1. Summary Information
|
|
|
Country |
|
|
Company Name |
ESKAY – BEE
INTERNATIONAL PRIVATE LIMITED |
Principal Name 1 |
Mr. Kevin Minesh Shah |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Jitendra Shah |
|
|
|
Registration # |
11-111059 |
|
Street Address |
304/305, Sahker
Bhuwan, 340/348, |
||
|
Established Date |
03.10.1997 |
SIC Code |
-- |
|
Telephone# |
91-22-40225555 |
Business Style 1 |
Trader |
|
Fax # |
91-22-40225585 |
Business Style 2 |
Importer |
|
Homepage |
Product Name 1 |
Plastic Raw Materials. |
|
|
# of employees |
20 Approximately |
Product Name 2 |
- |
|
Paid up capital |
Rs.9,394,000/- |
Product Name 3 |
- |
|
Shareholders |
- |
Banking |
Oriental Bank of Commerce |
|
Public Limited Corp. |
NO |
Business Period |
15 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
- |
- |
- |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
182,580,000 |
Current Liabilities |
389,228,000 |
|
Inventories |
583,226,000 |
Long-term Liabilities |
3,013,000 |
|
Fixed Assets |
1,509,000 |
Other Liabilities |
353,216,000 |
|
Deferred Assets |
712,000 |
Total Liabilities |
745,457,000 |
|
Invest& other Assets |
11,296,000 |
Retained Earnings |
24,472,000 |
|
|
|
Net Worth |
33,866,000 |
|
Total Assets |
779,323,000 |
Total Liab. & Equity |
779,323,000 |
|
Total Assets (Previous Year) |
208,348,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
705,989,000 |
Net Profit |
15,595,000 |
|
Sales(Previous yr) |
1,280,000 |
Net Profit(Prev.yr) |
(14,995,000) |
|
Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ESKAY – BEE INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
304/305, Sahker Bhuwan, 340/348, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
03.03.2010 |
|
|
|
|
Date of
Incorporation : |
03.10.1997 |
|
|
|
|
Com. Reg. No.: |
11-111059 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.394 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55100MH1997PTC111059 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Plastic Raw Materials. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
304/305, Sahker Bhuwan, 340/348, |
|
Tel. No.: |
91-22-40225555 |
|
Mobile No.: |
91-9820048493 (Mr. Kalpesh) |
|
Fax No.: |
91-22-40225585 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office: |
320, 321, Siddhivinayak Housing Society, 1st Floor, Room
No.7, Hingwala Lane, Pant Nagar, Ghatkopar (East), Mumbai-400 075,
Maharashtra, India |
DIRECTORS
|
Name : |
Mr. Kevin Minesh Shah |
|
Designation : |
Director |
|
Address : |
701, New |
|
Date of Birth/Age : |
13.10.1987 |
|
Date of Appointment : |
17.08.2010 |
|
|
|
|
Name : |
Mr. Jitendra Shah |
|
Designation : |
Director |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Plastic Raw Materials. |
|
|
|
|
Exports : |
|
|
Products : |
Plastic |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Plastic Raw Materials |
|
Countries : |
·
·
·
·
|
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|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
20 Approximately |
|
|
|
|
Bankers : |
Oriental Bank of Commerce, Fort, Mumbai, |
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Financial Institution: |
Bajaj Auto Finance Limited, Akurdi Pune, Pune-411 035, |
|
|
|
|
Auditors : |
|
|
Name : |
Chandresh Gandhi and Company Chartered Accountants |
CAPITAL STRUCTURE
As on 30.09.2005
Authorised Capital : Rs.10.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.9.394
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.394 |
9.394 |
9.394 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24.472 |
8.877 |
23.743 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
33.866 |
18.271 |
33.137 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.755 |
0.000 |
2.912 |
|
|
0.0002] Unsecured Loans |
2.258 |
(23.822) |
0.000 |
|
|
TOTAL BORROWING |
3.013 |
(23.822) |
2.912 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
Inter corporate Deposits |
349.361 |
0.394 |
0.394 |
|
|
|
|
|
|
|
|
TOTAL |
386.240 |
(5.157) |
36.443 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
1.509 |
11.308 |
10.787 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
11.296 |
0.000 |
0.706 |
|
|
DEFERREX TAX ASSETS |
0.712 |
1.134 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
583.226 |
44.652 |
53.771 |
|
|
Sundry Debtors |
154.356 |
144.968 |
45.804 |
|
|
Cash & Bank Balances |
4.167 |
0.794 |
7.049 |
|
|
Other Current Assets |
0.264 |
0.488 |
0.000 |
|
|
Loans & Advances |
23.793 |
5.004 |
49.935 |
|
Total
Current Assets |
765.806
|
195.906 |
156.559 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
380.100
|
208.778 |
124.100 |
|
|
Other Current Liabilities |
9.128
|
3.413 |
5.569 |
|
|
Provisions |
3.855
|
1.314 |
1.951 |
|
Total
Current Liabilities |
393.083
|
213.505 |
131.620 |
|
|
Net Current Assets |
372.723
|
(17.599) |
24.939 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.011 |
|
|
|
|
|
|
|
|
TOTAL |
386.240 |
(5.157) |
36.443 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
705.898 |
179.662 |
158.007 |
|
|
|
Other Income |
1.280 |
1.604 |
0.379 |
|
|
|
TOTAL (A) |
707.178 |
181.266 |
158.386 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Trading Expenses |
623.429 |
187.608 |
149.656 |
|
|
|
Payments and Benefits to
Employees |
0.402 |
0.673 |
0.450 |
|
|
|
Administration Expenses |
48.629 |
5.960 |
4.427 |
|
|
|
TOTAL (B) |
672.460 |
194.241 |
154.533 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.718 |
(12.975) |
3.853 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.720 |
2.443 |
1.700 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18.998 |
(15.418) |
2.153 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.053 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
18.945 |
(15.418) |
2.153 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.350 |
(0.423) |
0.603 |
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
15.595 |
(14.995) |
1.550 |
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(13.429) |
1.437 |
(0.113) |
|
|
|
|
|
|
|
|
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|
BALANCE CARRIED
TO THE B/S |
2.166 |
(13.429) |
1.437 |
|
Expected Sales (2010-2011) : Rs.1400.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.21
|
(8.27) |
0.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.68
|
(8.58) |
1.36 |
|
|
|
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.47
|
(7.44) |
1.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.56
|
(0.84) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.70
|
10.38 |
4.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.95
|
0.92 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from
16,
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U55100MH1997PTC111059 |
|
Name of the
company |
ESKAY-BEE
INTERNATIONAL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
304/305, Sahker Bhuwan, 340/348, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Oriental Bank of Commerce, Fort, Mumbai, |
|
Nature of
description of the instrument creating or modifying the charge |
Loan agreement against
immovable property. |
|
Date of
instrument Creating the charge |
17.01.2009 |
|
Amount secured by
the charge |
Rs.20.750
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Bajaj FRR as
applicable at the time of disbursement plus margin of 0.25% per annum
(currently 16.75%) Terms of
Repayment EMI of Rs.0.031
millions to be paid in 180 Months Margin 0.25% Extent and
Operation of the charge 100% |
|
Short particulars
of the property charged |
Office no.501 to
505, 5th FLR, Monterossa, 90 feet road, Pant Nagar, Ghatkopar-East,
Mumbai-400 086. |
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.50.12 |
|
|
1 |
Rs.79.37 |
|
Euro |
1 |
Rs.66.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
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.