MIRA
INFORM REPORT
|
Report Date : |
28.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
BRAMHA IMPEX PRIVATE LIMITED |
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Registered
Office : |
A-30, New Putlibai Kapol Niwas Co-operative Housing Society Limited,
167/ C S V Road, Vile Parle (West), Mumbai – 400056, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
27.04.2006 |
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Com. Reg. No.: |
11-161445 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
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CIN No.: [Company Identification
No.] |
U52190MH2006PTC161445 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB18368A |
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PAN No.: [Permanent Account No.] |
AACCB8480G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Steel. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 120000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
A-30, New Putlibai Kapol Niwas Co-operative Housing Society Limited,
167/ C S V Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office : |
A/54, New P K Niwas, 167, C S V Road, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
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Tel. No.: |
91-22-26247369 |
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Fax No.: |
91-22-26247369 |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Jayesh Mansukhlal Mehta |
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Designation : |
Director |
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Address : |
703, Crystal Classic, 154 – B, S. V. Road, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
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Date of Birth/Age : |
17.10.1961 |
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Date of Appointment : |
01.04.2008 |
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DIN No.: |
02601932 |
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Name : |
Mr. Manoj Nandlal Mehta |
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Designation : |
Director |
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Address : |
30, Putalibai Kapol Niwas, Ground Floor, S. V. Road, Vile Parle
(West), Mumbai – 400056, Maharashtra, India |
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Date of Birth/Age : |
20.10.1954 |
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Date of Appointment : |
27.04.2006 |
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DIN No.: |
00238416 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Manoj N. Mehta |
45000 |
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Jayesh M. Mehta (HUF) |
55000 |
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Total |
100000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Steel. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of Patiala, Inder Tower, Gokhley Road
(South), Dadar (West), Mumbai – 400025, Maharashtra, India ·
The Federal Bank Limited, Mumbai Vile Parle
Branch, Wembly Ground Floor, Off Nehru Road, Vile Parle (East), Mumbai –
400057, Maharashtra, India ·
Central Bank of India ·
Citi Bank ·
Kapol Co-operative Bank Limited ·
ABN Amro Bank ·
Standard Chartered Bank |
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Facilities : |
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Financial Institute : |
·
Relicare Finvest Limited ·
Barclays Investment and Loans · lndia Bulls Financial Services · Cholamandal DBS Finance Limited · Tata Capital |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. G. Vashi and Company Chartered Accountants |
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Address : |
801-A, Sunflower Gundecha’s Vally of Flowers, Thakur Village,
Kandivali (East), Mumbai – 400101, Maharashtra, India |
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Tel. No.: |
91-22-65250008 |
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Mobile No.: |
91-9819557007 |
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PAN.: |
AGAPV1671J |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital
: Rs.7.000 Millions
Issued Capital :
Rs.1.000 Million
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
30.138 |
10.075 |
8.598 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
31.138 |
11.075 |
9.598 |
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LOAN FUNDS |
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1] Secured Loans |
28.181 |
14.942 |
15.175 |
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2] Unsecured Loans |
19.201 |
18.865 |
16.796 |
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TOTAL BORROWING |
47.382 |
33.807 |
31.971 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
78.520 |
44.882 |
41.569 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
0.001 |
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 |
39.932
|
24.971 |
18.210 |
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Sundry Debtors |
103.683
|
164.048 |
105.376 |
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Cash & Bank Balances |
0.161
|
12.605 |
0.389 |
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Other Current Assets |
0.916
|
0.542 |
0.000 |
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Loans & Advances |
0.100
|
0.000 |
0.000 |
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Total
Current Assets |
144.792
|
202.166 |
123.975 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
65.302
|
156.620 |
81.834 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.981
|
0.677 |
0.588 |
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Total
Current Liabilities |
66.283
|
157.297 |
82.422 |
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Net Current Assets |
78.509
|
44.869 |
41.553 |
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MISCELLANEOUS EXPENSES |
0.010 |
0.012 |
0.016 |
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TOTAL |
78.520 |
44.882 |
41.569 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PROFIT BEFORE
TAX |
3.144 |
2.153 |
1.652 |
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Less |
TAX |
0.982 |
0.677 |
0.589 |
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PROFIT AFTER TAX
|
2.162 |
1.476 |
1.063 |
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Earnings Per
Share (Rs.) |
21.62 |
14.76 |
10.63 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.17
|
1.06 |
1.33 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.19 |
0.17 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.65
|
17.25 |
11.92 |
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Current Ratio (Current Asset/Current Liability) |
|
2.18
|
1.28 |
1.50 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
During the year, the Directors do not recommend any dividend on Equity
Shares for the year 2010.
FORM 8
|
Corporate
identity number of the company |
U52190MH2006PTC161445 |
|
Name of the
company |
BRAMHA IMPEX
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-30,New Putlibai
Kapol Niwas Co-Operative Housing Society Limited, 167/C S V Road, Vile Parle West,
Mumbai-400056, Maharashtra, India Email Id : bramhaimpex.mehta@gmail.com |
|
This form is for |
Creation
of charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Stock |
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Particular of
charge holder |
State Bank of Patiala, Inder Tower, Gokhley Road (South), Dadar (West), Mumbai – 400025, Maharashtra, India Email Id : b5529@sbp.co.in |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of goods and assets dated 30th November 2011 |
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Date of
instrument Creating the charge |
30.11.2011 |
|
Amount secured by
the charge |
Rs.130.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate + 4.50%
i.e. presently 15.00% p.a. with monthly rests Terms of
repayment As stipulated by
Bank from time to time Margin 25% on stock and
debtors Extent and
operation of the charge First Charge over
Stock and Book Debts |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of the
entire stocks. machinery books debts, current and fixed assets
lying/installed in the factory premises/godown/shop present and future |
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.49.65 |
|
|
1 |
Rs.77.80 |
|
Euro |
1 |
Rs.65.05 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.