MIRA
INFORM REPORT
|
Report Date : |
06.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
FINGERPRINTS FASHIONS PRIVATE LIMITED |
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Registered
Office : |
B/205, Bulding No. 1, Kailash Industrial Complex, Off L.B.S Marg,
Parksite, Vikhroli (West), Mumbai-400079, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.04.2007 |
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Com. Reg. No.: |
11-169789 |
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Capital
Investment / Paid-up Capital : |
Rs.0.331
Million |
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CIN No.: [Company Identification
No.] |
U18109MH2007PTC169789 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF05073F |
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PAN No.: [Permanent Account No.] |
AABCF0780C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in trading and manufacturing of readymade garments
and other fashion accessories. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 390000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company is under pressure. There appears some accumulated losses
recorded by the company. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Kamal Upadya |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-22-42936800 |
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Date : |
02.02.2012 |
LOCATIONS
|
Registered Office : |
B/205, Bulding No. 1, Kailash Industrial Complex, Off L.B.S Marg,
Parksite, Vikhroli (West), Mumbai-400079, Maharashtra, India |
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Tel. No.: |
91-22-42936801/02 |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Kashyap Yogesh Dalal |
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Designation : |
Director |
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Address : |
Flat No. 1, Snehasadan, Opposite Ritz Hotel, Next to Satyam
Collection, Churchgate, Mumbai-400020, Maharashtra, India |
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Date of Birth/Age : |
24.02.1981 |
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Date of Appointment : |
09.04.2007 |
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Din No.: |
02183084 |
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Name : |
Mr. Navneet Dineshkumar Rai |
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Designation : |
Director |
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Address : |
G-L-4, Kaveri Apartments, Anupam Nagar, University Road, Gwalior-474006,
Madhya Pradesh, India |
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Date of Birth/Age : |
15.03.1980 |
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Date of Appointment : |
09.04.2007 |
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Din No.: |
02575572 |
KEY EXECUTIVES
|
Name : |
Mr. Kamal Upadya |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kashyap Yogesh Dalal |
|
4488 |
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Navneet Dineshkumar Rai |
|
4488 |
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Sushant Sreeram |
|
574 |
|
Karamveer Singh |
|
1163 |
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Gaurav Songara |
|
1163 |
|
Anand Lunia |
|
1828 |
|
Prafulla Krishna |
|
581 |
|
Paula Mariwala |
|
1163 |
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Mahesh Murthy |
|
1163 |
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Harminder Sahni |
|
330 |
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Small Industries Development Bank of India, India |
|
167 |
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Total |
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17108 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading and manufacturing of readymade garments
and other fashion accessories. |
GENERAL INFORMATION
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No. of Employees : |
Information denied by the management. |
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Bankers : |
·
Small
Industries Development Bank of India, 1 and 2, Dhanalaxmi Residency, Near
Hotel Tip-Top Plaza, L.B.S. Marg, Thane-400602, Maharashtra, India ·
Punjab
National Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
VMRS and Company Chartered Accountant |
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Address : |
202, Sona Chambers, 507/509, J.S.S. Road, Mumbai-400002, Maharashtra, India
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Pan No.: |
AADFV7105Q |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
33081 |
Equity Shares |
Rs.10/- each |
Rs.0.331
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
0.331 |
0.166 |
0.166 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
107.156 |
5.034 |
4.457 |
|
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4] (Accumulated Losses) |
(9.361) |
(3.068) |
0.000 |
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|
NETWORTH |
98.126 |
2.132 |
4.623 |
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|
LOAN FUNDS |
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|
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|
1] Secured Loans |
3.085 |
2.528 |
0.000 |
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2] Unsecured Loans |
1.000 |
3.800 |
1.100 |
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|
TOTAL BORROWING |
4.085 |
6.328 |
1.100 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
102.211 |
8.460 |
5.723 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.085 |
1.794 |
0.129 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
10.092 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
9.178
|
2.711 |
1.661 |
|
|
Sundry Debtors |
17.219
|
6.417 |
1.649 |
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|
Cash & Bank Balances |
62.126
|
0.734 |
0.526 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.421
|
1.222 |
2.326 |
|
Total
Current Assets |
95.944
|
11.084 |
6.162 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
7.739
|
4.238 |
0.580 |
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Other Current Liabilities |
4.171
|
1.170 |
0.009 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
11.910
|
5.408 |
0.589 |
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Net Current Assets |
84.034
|
5.676 |
5.573 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.990 |
0.021 |
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TOTAL |
102.211 |
8.460 |
5.723 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income From Operations |
38.514 |
16.001 |
2.630 |
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|
Increase / (Decrease) in Stock |
5.965 |
1.049 |
0.000 |
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TOTAL |
44.479 |
17.050 |
2.630 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
50.771 |
19.542 |
3.006 |
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Business Expenditure |
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TOTAL |
50.771 |
19.542 |
3.006 |
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PROFIT / (LOSS)
BEFORE TAX |
(6.292) |
(2.492) |
(0.376) |
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Less |
TAX |
0.000 |
0.000 |
0.000 |
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PROFIT / (LOSS)
AFTER TAX |
(6.292) |
(2.492) |
(0.376) |
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|
Earnings /
(Loss) Per Share (Rs.) |
(332.21) |
(150.02) |
(22.64) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(14.15)
|
(14.62) |
(14.30) |
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Net Profit Margin (PBT/Sales) |
(%) |
(16.34)
|
(15.57) |
(14.30) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(6.05)
|
(19.35) |
(5.97) |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.06)
|
(1.17) |
(0.08) |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
0.16
|
5.50 |
0.37 |
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|
Current Ratio (Current Asset/Current Liability) |
|
8.05
|
2.05 |
10.46 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
For Goods |
6.595
|
3.959 |
0.580 |
|
For Expenses |
1.144
|
0.279 |
0.000 |
|
Total |
7.739
|
4.238 |
0.580 |
PERFORMANCE:
The Company has achieved
income from operation of Rs. 38.514 Millions as compared to Rs. 16.001 Millions
in the previous year. The Company has incurred a net loss of Rs. 6.292 Millions
as compared to net loss of Rs. 2.492 Millions in the previous year. The
directors are hopeful of better performance in the current financial year.
NATURE OF OPERATIONS:
The company is engaged in trading and manufacturing of readymade
garments and other fashion accessories.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U18109MH2007PTC169789 |
|
Name of the
company |
FINGERPRINTS
FASHIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B/205, Bulding No. 1, Kailash Industrial Complex, Off L.B.S Marg,
Parksite, Vikhroli (West), Mumbai-400079, Maharashtra, India |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
Small Industries Development
Bank of India, 1 and 2, Dhanalaxmi Residency, Near Hotel Tip-Top Plaza,
L.B.S. Marg, Thane-400602, Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Loan Agreement
and Deed of Hypothecation |
|
Date of
instrument Creating the charge |
06.04.2010 |
|
Amount secured by
the charge |
Rs.10.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 14% p.a. with
monthly rests, on the principal amount of the Loan outstanding from time to
time. Terms of
Repayment The loan shall be
repaid by the borrower in 16 quarterly installments of Rs.0.625 million each
commencing from the end of 36 months from the date of first disbursement. Extent and
Operation of the charge Loan of subject
to maximum of Rs. 10.000 millions. The loan together with all interest, further
interest, additional interest, penal interest, premia on prepayment, costs,
expenses and all other monies whatsoever payable by the borrower. |
|
Short particulars
of the property charged |
All the Movable
including the movable, plant, machinery, machinery spare, tools and
accessories, office equipment, computers, furniture and fixtures, intangible
and current assets, book debts receivable etc |
FIXED ASSETS:
·
Computer
·
Furniture and Fixtures
·
Plant and Machinery
·
Office Equipments
·
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.96 |
|
|
1 |
Rs.77.47 |
|
Euro |
1 |
Rs.64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.