MIRA
INFORM REPORT
|
Report Date : |
07.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
TAJIR PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
20.06.1950 |
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Com. Reg. No.: |
11-008129 |
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Capital
Investment / Paid-up Capital : |
Rs.7.926
Millions |
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CIN No.: [Company Identification
No.] |
U51109MH1950PTC008129 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMTO9552E |
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PAN No.: [Permanent Account No.] |
AAACT1959Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributor and Importer of Food Items. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 124000 |
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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 old, small and medium sized company having satisfactory
track. The company is progressing steadily. Trade relations are reported as decent. 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.
INFORMATION PARTED BY
|
Name : |
Mr. Aziz |
|
Designation : |
Logistics Manager |
|
Contact No.: |
91-22-23010446 |
|
Date : |
06.07.2012 |
LOCATIONS
|
Registered Office : |
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Tel. No.: |
91-22-23010446/ 23090244/ 23086077 |
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Fax No.: |
91-22-23078761 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Yusuf Gulamally |
|
Designation : |
Director |
|
Address : |
184, Mehr DRD Cuffe Parade, Colaba, Mumbai – 400 005, |
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Date of Birth/Age : |
07.03.1940 |
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Date of Appointment : |
10.12.1963 |
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DIN No.: |
00023671 |
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Name : |
Mr. Mufaddal Yusuf |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
26.10.1976 |
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Date of Appointment : |
26.12.1994 |
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DIN No.: |
00023687 |
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|
|
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Name : |
Mr. Aliasger Yusuf |
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Designation : |
Director |
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Address : |
|
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Date of Birth/Age : |
16.12.1974 |
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Date of Appointment : |
05.03.1993 |
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DIN No.: |
00023697 |
KEY EXECUTIVES
|
Name : |
Mr. Aziz |
|
Designation : |
Logistics Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ali Asger Yusuf jointly with Yusuf Gulamally |
|
124808 |
|
Dilshad Yusuf jointly with Yusuf Gulamally |
|
147297 |
|
|
|
28 |
|
Mufaddal Yusuf jointly with Dilshad Yusuf |
|
132160 |
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R.S. Abidali jointly with Dilshad Yusuf |
|
3076 |
|
Yusuf Gulamally jointly with Ali Asger Yusuf |
|
50000 |
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Yusuf Gullamally jointly with Dilshad Yusuf |
|
244232 |
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Yusuf Gullamally jointly with Mufaddal Yusuf |
|
50000 |
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Kanhaiyalal Kathotia (HUF) |
|
5 |
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Ali Asger Yusuf jointly with Mufaddal Yusuf |
|
19600 |
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Mufaddal Yusuf jointly with Ali Asger Yusuf |
|
21380 |
|
Aliasger Kalimuddin |
|
17 |
|
Faisal A. Merchant |
|
5 |
|
Total
|
|
792608 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor and Importer of Food Items. |
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Imports : |
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Products : |
Food Items |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30/ 60 days) |
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Purchasing : |
L/C, Cash and Credit (30/ 60 days)
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GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
HDFC Bank Limited, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lakhani and Company Chartered Accountants |
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Address : |
Hemsharsaka, 19, |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFL1302L |
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Related Parties : |
v
Champion Supermarket Private Limited v
Champion Tea Mart |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital : Rs.50.000 millions
Issued, Subscribed & Paid-up Capital : Rs.7.926
millions
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
792608 |
Equity Shares |
Rs.10/- each |
Rs.7.926
Millions |
|
|
|
|
|
(Out of above
370814 Equity Shares of Rs.10/- each are issued as bonus shares)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.926 |
7.926 |
7.416 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
22.958 |
14.630 |
2.643 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
30.884 |
22.556 |
10.059 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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|
2] Unsecured Loans |
9.875 |
3.400 |
4.110 |
|
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TOTAL BORROWING |
9.875 |
3.400 |
4.110 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
40.759 |
25.956 |
14.169 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.795 |
12.811 |
6.499 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.484 |
0.001 |
0.001 |
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DEFERRED TAX ASSETS |
0.268 |
0.168 |
0.087 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
Inventories |
21.731
|
5.156
|
8.009 |
|
|
Sundry Debtors |
15.499
|
5.021
|
5.032 |
|
|
Cash & Bank Balances |
0.861
|
9.549
|
2.818 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
4.094
|
2.076
|
2.512 |
|
Total
Current Assets |
42.185
|
21.802 |
18.371 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
20.347
|
6.292 |
7.084 |
|
|
Other Current Liabilities |
2.483
|
2.131
|
3.700 |
|
|
Provisions |
0.143
|
0.403
|
0.005 |
|
Total
Current Liabilities |
22.973
|
8.826 |
10.789 |
|
|
Net Current Assets |
19.212
|
12.976
|
7.582 |
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
40.759 |
25.956 |
14.169 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Income |
114.405 |
65.804 |
57.148 |
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Other Income |
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TOTAL |
114.405 |
65.804 |
57.148 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
98.594 |
59.540 |
53.105 |
|
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Administrative Expenses |
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Advertising Expenses |
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Financial Expenses |
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TOTAL |
98.594 |
59.540 |
53.105 |
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PROFIT BEFORE
TAX, DEPRECIATION AND AMORTISATION |
15.811 |
6.264 |
4.043 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
2.291 |
0.821 |
0.947 |
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PROFIT BEFORE
TAX |
13.520 |
5.443 |
3.096 |
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|
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Less |
TAX |
4.777 |
1.768 |
1.269 |
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PROFIT AFTER TAX
|
8.743 |
3.675 |
1.827 |
|
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PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
6.168 |
2.493 |
4.374 |
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|
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BALANCE CARRIED
TO THE B/S |
14.911 |
6.168 |
6.201 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
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|
Commission Received |
14.556 |
11.474 |
10.046 |
|
|
TOTAL EARNINGS |
14.556 |
11.474 |
10.046 |
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IMPORT VALUE |
82.737 |
30.333 |
26.510 |
|
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|
Earnings Per
Share (Rs.) |
11.03 |
4.87 |
4.55 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
140.000 |
|
|
|
|
|
Expected Sales (2012-2013): More than Rs.170.000 millions
The above information has been parted by Mr. Aziz (Logistics Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.64
|
5.58
|
3.20 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.47
|
15.73
|
12.45 |
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.44
|
0.24
|
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.06
|
0.54
|
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
2.47
|
1.70 |
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 |
18.805 |
5.568 |
6.633 |
|
Sundry Creditors For Expenses |
1.542 |
0.724 |
0.451 |
|
Total |
20.347 |
6.292 |
7.084 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the firm |
Yes |
|
3) Constitutions
of the firm |
Yes |
|
4) Premises
details |
No |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
Yes |
|
8) No. of
employees |
Yes |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm for last three years |
Yes |
|
12) Profitability
for last three years |
Yes |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
Yes |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
Yes |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
Yes |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
Yes |
|
28) Incorporation
details, if applicable |
Yes |
|
29) Last accounts
filed at ROC |
Yes |
|
30) Major
Shareholders, if available |
Yes |
OPERATIONS AND FUTURE PROSPECTS
The Company has reported total turnover, including other income, of
Rs.114.404 millions as compared to the last year’s turnover of Rs.65.804
millions, which has an increase of 73.86% over the last year’s turnover.
The Company has earned a net Profit of Rs.8.743 millions as compared to
the last year’s net profit of Rs.3.675 millions after providing for
depreciation, taxes and for deferred taxes.
FIXED ASSETS:
v Air Conditioners
v Computers
v Electrical Installations
v Furniture and Fixtures
v Plant and Machinery
v Office Equipments
v Motor Car
v Tempo – TATA Ace
v Property
v Leasehold Improvement
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.55.42 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.