MIRA
INFORM REPORT
|
Report Date : |
02.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHUBH LABH NIRMAAN PRIVATE LIMITED |
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Registered
Office : |
1108, 11th Floor, Om Tower, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.09.2007 |
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Com. Reg. No.: |
118623 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U45400WB2007PTC118623 |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Trading of Pulses |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1316 |
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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 appears to be low. 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
cautions. |
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 |
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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 : |
1108, 11th Floor, Om Tower, 32 Chowringhee Road, Kolkata
700071, West Bengal, India |
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Tel. No.: |
91-33-22266193 |
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Fax No.: |
91-33-22266192 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Bimalsingh Raichand Kothari |
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Designation : |
Director |
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Date of Birth/Age : |
27.08.1959 |
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Date of Appointment : |
31.01.2008 |
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Name : |
Mrs. Sushma Bimalsingh Kothari |
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Designation : |
Director |
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Date of Birth/Age : |
13.08.1961 |
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Date of Appointment : |
31.01.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mr. Bimalsingh Raichand Kothari |
500 |
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Mrs. Sushma Bimalsingh Kothari |
500 |
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Total |
1000 |
AS ON 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
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Category |
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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 : |
Trading of Pulses |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Standard Chartered Bank, Chowringhee Road, Kolkata, West Bengal,
India |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S S Rathi Chartered Accountant |
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Address : |
C/103-104, Pranay Nagar, Ram Mandir Road Extn., Vazira Naka, Borivali (West),
Mumbai 400091, Maharashtra, India |
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Tel. No.: |
91-22-28337953 |
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E-Mail : |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs. 100 each |
Rs.1.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
1000 |
Equity Shares |
Rs. 100 each |
Rs.0.100 million |
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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 |
0.100 |
0.100 |
0.052 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.229 |
0.079 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.329 |
0.179 |
0.052 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.127 |
0.112 |
3.112 |
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TOTAL BORROWING |
0.127 |
0.112 |
3.112 |
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DEFERRED TAX LIABILITIES |
0.235 |
0.166 |
0.088 |
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TOTAL |
0.691 |
0.457 |
3.252 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.278 |
3.320 |
3.376 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
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 |
0.000 |
0.000 |
0.000 |
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Sundry Debtors |
58.841
|
75.687 |
0.000 |
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Cash & Bank Balances |
0.019
|
0.003 |
0.013 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
3.619
|
2.090 |
0.225 |
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Total
Current Assets |
62.479
|
77.780 |
0.238 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
65.036
|
80.635 |
0.397 |
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Other Current Liabilities |
0.000 |
0.000 |
0.000 |
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Provisions |
0.050
|
0.037 |
0.005 |
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Total
Current Liabilities |
65.086
|
80.672 |
0.402 |
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Net Current Assets |
(2.607)
|
(2.892) |
(0.164) |
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MISCELLANEOUS EXPENSES |
0.020 |
0.029 |
0.040 |
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TOTAL |
0.691 |
0.457 |
3.252 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Sales |
NA |
136.670 |
5.598 |
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Other Income |
NA |
0.000 |
0.129 |
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TOTAL (A) |
NA |
136.670 |
5.727 |
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Less |
EXPENSES |
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Selling and Distribution Expenses |
NA |
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Office Expenses |
NA |
136.367 |
5.627 |
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Administrative Expenses |
NA |
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Advertising Expenses |
NA |
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TOTAL (B) |
NA |
136.367 |
5.627 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
0.303 |
0.100 |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
0.005 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.273 |
0.298 |
0.100 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
0.055 |
0.055 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.273 |
0.243 |
0.045 |
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Less |
TAX (H) |
0.124 |
0.116 |
0.092 |
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PROFIT AFTER TAX
(G-H) (I) |
0.149 |
0.127 |
(0.047) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.079 |
(0.047) |
NA |
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BALANCE CARRIED
TO THE B/S |
0.229 |
0.079 |
(0.047) |
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Earnings Per
Share (Rs.) |
149.00 |
-- |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
0.09 |
(0.82) |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.17 |
0.80 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.41
|
0.29 |
1.24 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.82
|
1.35 |
0.86 |
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Debt Equity Ratio (Total Liability/Networth) |
|
198.93
|
452.23 |
69.26 |
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Current Ratio (Current Asset/Current Liability) |
|
0.95
|
0.96 |
0.59 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The directors inform that the company has suffered net profit of Rs.
0.229 million during the year. The directors hope to show better results in the
coming years.
FIXED ASSETS:
·
Office Premises
|
Check List by
Info Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter's background |
Yes |
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8) No. of employees |
No |
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9) Name of person contacted |
No |
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10) Designation of contact person |
No |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
No |
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20) Export / Import details (if
applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
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.52.52 |
|
|
1 |
Rs.85.49 |
|
Euro |
1 |
Rs.69.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
NO |
|
--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 |
|
26 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.