MIRA
INFORM REPORT
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Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
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Name : |
CORPORATE MILLENNIUM HYGIENE SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
C-24 Nutan Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.04.2003 |
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Com. Reg. No.: |
140183 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.850 Million |
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CIN No.: [Company Identification
No.] |
U51909MH2003PTC140183 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC12621A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributor of Hygiene Products |
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No. of Employees
: |
24 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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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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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. However, 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 caution.
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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
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Name : |
Mr. Chandrakant Birajdar |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9920798250 |
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Date : |
02.05.2012 |
LOCATIONS
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Registered Office : |
C-24 Nutan Nagar, 24 Turner Road, Bandra (W), Mumbai – 400050,
Maharashtra, India |
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Tel. No.: |
91-22-26553601 |
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Mobile No.: |
91-9920798250 (Mr. Chandrakant) |
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Fax No.: |
91-22-26400176 |
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E-Mail : |
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Area : |
300sq.fts |
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Location : |
Owned |
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Branches : |
Bangalore – Jayanagar |
DIRECTORS
AS ON 29.09.2011
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Name : |
Mr. Rajesh Shyamlal Rohira |
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Designation : |
Director |
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Address : |
402 Kenwood Apartment, Dr. B A Road, Bandra West, Mumbai – 400050,
Maharashtra, India |
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Date of Birth/Age : |
02.05.1965 |
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Date of Appointment : |
28.04.2003 |
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Name : |
Mr. Niloufer Rajesh Rohira |
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Designation : |
Director |
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Address : |
402 Kenwood Apartment, Dr. B A Road, Bandra West, Mumbai – 400050,
Maharashtra, India |
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Date of Birth/Age : |
21.12.1963 |
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Date of Appointment : |
28.04.2003 |
KEY EXECUTIVES
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Name : |
Mr. Chandrakant Birajdar |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
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Names of Shareholders |
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No. of Shares |
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Rajesh Shyamlal Rohira |
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8000 |
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Niloufer Rajesh Rohira |
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77000 |
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Total |
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85000 |
AS ON 29.09.2011
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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 : |
Distributor of Hygiene Products |
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Imports : |
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Products : |
Hygiene Products |
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Countries : |
United Kingdom |
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Trade
References: |
Vector Systems |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Suppliers : |
Kimberly Clark - USA |
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Customers : |
·
Corporate ·
Citi Bank, Andheri and Vashi Branch |
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No. of Employees
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24 (Approximately) |
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Bankers : |
UCO Bank, Worli Branch, |
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Facilities : |
CC – Rs.0.800 Million
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A H and Associates Chartered Accountant |
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Address : |
Swadeshi Market Bldg, 2nd Floor, R No. 185, Kalbadevi Road, Mumbai – 400002,
Maharashtra, India |
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Tel No.: |
91-22-22035120/28090082 |
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Email: |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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85000 |
Equity Shares |
Rs.10/- each |
Rs.0.850
Million |
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(Of which 85000 (Previous year 85000) equity
shares have been issued for consideration other than cash)
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2012 |
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Sales Turnover (Approximately) |
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|
150.000 |
Expected Sales (2012-2013) : Rs.180.000 Millions
The above information has been parted by Mr. Chandrakant Birajdar
(Accounts Manager)
ABRIDGED BALANCE
SHEET
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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 |
0.850 |
0.850 |
0.850 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.110 |
1.336 |
1.195 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.960 |
2.186 |
2.045 |
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LOAN FUNDS |
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1] Secured Loans |
7.581 |
7.572 |
8.409 |
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2] Unsecured Loans |
5.147 |
6.116 |
3.971 |
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TOTAL BORROWING |
12.728 |
13.688 |
12.380 |
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DEFERRED TAX LIABILITIES |
0.289 |
0.297 |
0.263 |
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TOTAL |
15.977 |
16.171 |
14.688 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.403 |
3.606 |
2.873 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.237 |
0.112 |
0.310 |
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DEFERREX TAX ASSETS |
0.083 |
0.083 |
0.083 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.434
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11.299
|
6.742 |
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Sundry Debtors |
18.420
|
18.025
|
15.279 |
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Cash & Bank Balances |
0.113
|
0.809
|
0.552 |
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Other Current Assets |
0.000
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0.000
|
0.000 |
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Loans & Advances |
4.943
|
5.460
|
3.901 |
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Total
Current Assets |
31.910
|
35.593
|
26.474 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
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Provisions |
0.605
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0.540
|
0.372 |
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Total
Current Liabilities |
19.656
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23.223
|
15.052 |
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Net Current Assets |
12.254
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12.370
|
11.422 |
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MISCELLANEOUS EXPENSES |
0.000
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0.000
|
0.000 |
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TOTAL |
15.977 |
16.171 |
14.688 |
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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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TOTAL TURNOVER |
133.169 |
113.642 |
107.872 |
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Less |
EXPENSES |
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TOTAL |
131.929 |
113.394 |
107.372 |
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PROFIT BEFORE
TAX |
1.240 |
0.248 |
0.500 |
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Less |
TAX |
0.466 |
0.107 |
0.408 |
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PROFIT AFTER TAX
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0.774 |
0.141 |
0.092 |
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Earnings Per
Share (Rs.) |
9.10 |
1.65 |
-- |
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NOTE: There is a typo
error in the 2011 Annual Report. The performance of the company is Amount in
000’Rs. Instead of Amount in Rs.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
0.58
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0.12
|
0.08 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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NA
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.51
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0.36
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0.31 |
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Return on Investment (ROI) (PBT/Networth) |
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0.41
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0.11
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0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
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10.94
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16.88
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13.41 |
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Current Ratio (Current Asset/Current Liability) |
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1.62
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1.53
|
1.76 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Sundry Creditors details are not available.
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Check List by
Info Agents |
Available in
Report (Yes / No) |
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1) Year of Establishment |
Yes |
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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 |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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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 |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if
applicable) |
Yes |
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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 |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
FIXED ASSETS:
·
Plant and Machinery
·
Goodwill
·
Furniture and Fittings
·
Vehicles
·
Office Equipment
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.52.93 |
|
|
1 |
Rs.85.85 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
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|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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|
--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.