|
Report Date : |
09.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
PICASSO CERAMICS AND COLOURS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
401, VIP Plaza 0/7, Veera Industrial Estate, Off Andheri – Malad Link
Road, Andheri (West), Mumbai-400053, Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
17.07.1992 |
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|
|
|
Com. Reg. No.: |
11-67765 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.300
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26939MH1992PTC067765 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP07541C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCP1564D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader and Importer of a Ceramics Tiles. |
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|
|
|
No. of Employees
: |
30 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7400 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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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 but correct. The company can be considered for small 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. Anil |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9820368492 |
|
Date : |
08.05.2012 |
LOCATIONS
|
Registered Office : |
401, VIP Plaza 0/7, Veera Industrial Estate, Off Andheri – Malad Link
Road, Andheri (West), Mumbai-400053, Maharashtra, India |
|
Tel. No.: |
91-22-26747801/ 802/ 806/ 811 |
|
Fax No.: |
91-22-26747800/ 810/ 26742805 |
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E-Mail : |
|
|
Area : |
550 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Warehouse : |
Located at Bhiwandi, Maharashtra, India |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Shishir Shyamlal Betharia |
|
Designation : |
Director |
|
Address : |
401, VIP Plaza 0/7, Veera Industrial Estate, Off Andheri – Malad Link Road,
Andheri (West), Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
14.02.1962 |
|
Date of Appointment : |
17.07.1992 |
|
Din No.: |
00289062 |
|
|
|
|
Name : |
Mrs. Pallavi Shishir Betharia |
|
Designation : |
Director |
|
Address : |
401, VIP Plaza 0/7, Veera Industrial Estate, Off Andheri – Malad Link
Road, Andheri (West), Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
05.12.1966 |
|
Date of Appointment : |
17.07.1992 |
|
Din No.: |
00094651 |
KEY EXECUTIVES
|
Name : |
Mr. Anil |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Shishir Shyamlal Betharia |
|
4500 |
|
Pallavi Shishir Betharia |
|
10500 |
|
Shishir Shyamlal Betharia - HUF |
|
3000 |
|
Kshitij Betharia |
|
6000 |
|
Amita Betharia |
|
3000 |
|
Rashmi Verma |
|
3000 |
|
|
|
|
|
Total |
|
30000 |
As on 29.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of a Ceramics Tiles. |
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|
|
|
Imports : |
|
|
Products : |
Ceramics Tiles |
|
Countries : |
·
European Countries ·
China |
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|
|
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Terms : |
|
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Selling : |
L/C / Cash and Credit |
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|
|
|
Purchasing : |
L/C / Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s ·
Johnson and Johnson ·
Somani |
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No. of Employees : |
30 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
CVK and Associates Chartered Accountants |
|
Address : |
2, Samartha Apartments, D S Babrekar Marg, Dadar West, Mumbai-400028, |
|
Tel. No.: |
91-22-24468717/ 24451488 |
|
Fax No.: |
91-22-24666139 |
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E-Mail : |
|
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Pan No.: |
AAAFC3657K |
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|
|
|
Associates: |
·
Meca Betharia, Navi Mumbai, Maharashtra, India Line of Business: Manufacturer of Ceramics
Tiles. |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity Shares |
Rs.10/- each |
Rs.0.300
Million |
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 |
0.300 |
0.300 |
0.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.559 |
1.356 |
1.325 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.859 |
1.656 |
1.625 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
12.150 |
12.150 |
8.250 |
|
|
TOTAL BORROWING |
12.150 |
12.150 |
8.250 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14.009 |
13.806 |
9.875 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.223 |
0.248 |
0.311 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
10.012 |
|
|
DEFERREX TAX ASSETS |
0.050 |
0.050 |
0.038 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
19.959
|
16.249
|
11.519
|
|
|
Sundry Debtors |
4.879
|
3.486
|
0.904
|
|
|
Cash & Bank Balances |
2.705
|
1.239
|
4.129
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
1.000
|
0.591
|
0.617
|
|
Total
Current Assets |
28.543
|
21.565
|
17.169
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.228
|
5.308 |
14.628 |
|
|
Other Current Liabilities |
4.429
|
1.073
|
2.115
|
|
|
Provisions |
2.150
|
1.676
|
0.912
|
|
Total
Current Liabilities |
14.807
|
8.057
|
17.655
|
|
|
Net Current Assets |
13.736
|
13.508
|
(0.486)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14.009 |
13.806 |
9.875 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
42.420 |
25.386 |
49.777 |
|
|
|
Other Income |
0.980 |
1.170 |
0.440 |
|
|
|
TOTAL (A) |
43.400 |
26.556 |
50.217 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
30.401 |
18.126 |
39.762 |
|
|
|
Administrative Overheads |
7.946 |
6.080 |
6.950 |
|
|
|
Directors Remunerations |
2.411 |
0.800 |
1.500 |
|
|
|
Foreign Exchange Fluctuation Loss |
0.000 |
0.211 |
0.000 |
|
|
|
Capital Gains Loss |
0.046 |
0.010 |
0.000 |
|
|
|
TOTAL (B) |
40.804 |
25.227 |
48.212 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.596 |
1.329 |
2.005 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.249 |
1.175 |
1.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.347 |
0.154 |
0.340 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.082 |
0.134 |
0.128 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.265 |
0.020 |
0.212 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.062 |
(0.011) |
0.151 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.203 |
0.031 |
0.061 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.203 |
0.031 |
0.061 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
11.684 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
23.277 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
20.30 |
-- |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover [Approximately] |
|
|
55.000 |
Expected Sales (2012-13) : Rs.65.000 Millions.
The above information has been parted by Mr. Anil.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.47
|
0.12 |
0.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.62
|
0.07 |
0.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.92
|
0.09 |
1.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.01 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
14.50
|
12.20 |
15.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.93
|
2.67 |
0.97 |
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 |
8.228
|
5.308 |
14.628 |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
NOTE:
The Registered office of the company has been shifted from 603, Silver
Islemahatarpada, Amboli, Andheri (West), Mumbai,
RESULTS AND FUTURE
OUTLOOK:
The performance of the company during the year is satisfactory. The
sales turnover has increased from Rs.25.386 millions to Rs.42.421 millions. The
company has made a profit before tax of Rs.0.265 million.
FIXED ASSETS
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.52.85 |
|
|
1 |
Rs.85.44 |
|
Euro |
1 |
Rs.68.80 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.