|
Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
LONGSHINE GLOBAL ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
13-F, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.10.2008 |
|
|
|
|
Com. Reg. No.: |
11-187830 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.691 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109MH2008PTC187830 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML07302B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL5352L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributing and Importing of Bicycle and Spare parts Accessories. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 33000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 commitment. The company can be considered for small to mediocre 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 : |
Ms. Pratiksha |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-24376883 |
|
Date : |
01.06.2012 |
LOCATIONS
|
Registered Office : |
13-F, Kasturchand Building, Gokhale Road (South), Dadar (West), Mumbai
– 400028, Maharashtra, India |
|
Tel. No.: |
91-22-24376883/24311683/24311684 |
|
Fax No.: |
91-22-24311687 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 06.07.2011
|
Name : |
Mr. Arvind V Jain |
|
Designation : |
Director |
|
Address : |
7 Shah Mansion, 103 Collage Road, Ghokale Road (N), Dadr (West),
Mumbai – 400028, Maharashtra, India |
|
Date of Birth/Age : |
03.04.1976 |
|
Date of Appointment : |
29.10.2008 |
|
DIN No.: |
02247365 |
|
|
|
|
Name : |
Mr. Yiangliang Z Wu |
|
Designation : |
Director |
|
Address : |
486 Heping West Road, Xinhua District, Snijiazhuang Hebie, Province,
Hebe, China |
|
Date of Birth/Age : |
06.05.1971 |
|
Date of Appointment : |
29.10.2008 |
|
DIN No.: |
02267816 |
|
|
|
|
Name : |
Mrs. Alka Arvind Jain |
|
Designation : |
Director |
|
Address : |
7 Shah Mansion, 103 Collage Road, Ghokale Road (N), Dadr (West),
Mumbai – 400028, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1976 |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
03123704 |
KEY EXECUTIVES
|
Name : |
Ms. Pratiksha |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Arvind V Jain |
|
200 |
|
Yiangliang Z Wu |
|
168950 |
|
|
|
|
|
Total |
|
169150 |
Equity Share Break up (Percentage of Total Equity)
As on 06.07.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributing and Importing of Bicycle and Spare parts Accessories. |
|
|
|
|
Brand Name: |
“Fomascycle” |
|
|
|
|
Imports : |
|
|
Products : |
Spare Parts |
|
Countries : |
China, Taiwan, Italy, France, Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Terger Logo |
|
|
|
|
Customers : |
End Users ·
Parth Enterprises |
|
|
|
|
No. of Employees : |
20 (Approximately) |
|
|
|
|
Bankers : |
HDFC Bank, Dadar Branch, Mumbai, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Girish P. Jain and Company Chartered Accountant |
|
Address : |
101-102, Peace Haven, NM Kale Marg, Off Gokhale Road (South), Dadar
(West), Mumbai – 400028, Maharashtra, India |
|
PAN.: |
AABPJ9868J |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
169150 |
Equity Shares |
Rs.10/- each |
Rs.1.691
Millions |
|
|
|
|
|
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 |
1.691 |
1.691 |
0.724 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.579 |
4.276 |
0.113 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.270 |
5.967 |
0.837 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.714 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.714 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8.984 |
5.967 |
0.837 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.736 |
1.092 |
0.212 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.011 |
0.009 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.348
|
31.996 |
3.344 |
|
|
Sundry Debtors |
19.566
|
17.005 |
3.345 |
|
|
Cash & Bank Balances |
0.660
|
1.898 |
0.792 |
|
|
Other Current Assets |
0.032
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.463
|
0.403 |
0.095 |
|
Total
Current Assets |
52.069
|
51.302 |
7.576 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000 |
0.000 |
0.000 |
|
|
Other Current Liabilities |
45.926
|
45.288 |
7.091 |
|
|
Provisions |
0.000 |
1.289 |
0.048 |
|
Total
Current Liabilities |
45.926
|
46.577 |
7.139 |
|
|
Net Current Assets |
6.143
|
4.725 |
0.437 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.094 |
0.141 |
0.188 |
|
|
|
|
|
|
|
|
TOTAL |
8.984 |
5.967 |
0.837 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
62.763 |
58.198 |
5.690 |
|
|
|
Other Income |
2.516 |
2.647 |
0.000 |
|
|
|
Increase /(Decrease) in stock |
(0.648) |
28.651 |
3.344 |
|
|
|
TOTAL |
64.631 |
89.496 |
9.034 |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENDITURE |
61.213 |
83.472 |
8.837 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.418 |
6.024 |
0.197 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.115 |
1.861 |
0.084 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.303 |
4.163 |
0.113 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.276 |
0.113 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.579 |
4.276 |
0.113 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
13.62 |
NA |
NA |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
69.000 |
Expected Sales (2012-2013): Rs.70.000 Millions
The above information has been parted by Ms. Pratiksha – Finance
Executive
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.56
|
4.65 |
1.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.45
|
10.35 |
3.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.56
|
11.74 |
2.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
1.01 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.55
|
7.81 |
8.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.10 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors details are not available
|
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 |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
Note: Registered office of the company has been
shifted from 7-F, Kasturchand Building, Gokhale Road (South), Dadar (West), Mumbai –
400028, Maharashtra to the present address w.e.f 01.12.2009
FINANCIAL HIGHLIGHT
The turnover of the Company has increased by 108% as
compared to last year’s turnover mainly on account of last year’s turnover is
being only for six months and the profit is also increased to Rs.2.303
Millions. The directors expect that the performance of the company shall be
more prospering in the ensuing year.
TRADE REFERENCE
·
Parth Enterprises
·
Terger Logo
AS PER WEBSITE DETAILS
COMPANY PROFILE
Subject is an ISO 9001:2008 certified (UKAS quality management certified)
Indian private limited company, promoted by Mr. Arvind Kumar
Jain, Managing Director of the company. Mr. Arvind Kumar Jain comes from
family running bicycle business since last 60 years. He is from the third
generation to continue the same business with a vision and mission to take the
business to the new heights.
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.55.19 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
|
44 |
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.