MIRA
INFORM REPORT
|
Report Date : |
11.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
Chintan Sales |
|
|
|
|
Registered
Office : |
D-409 Shivalik Corporate Park Behind
IOC Pump, 132 Feet Ring Road, Satellite, Ahemdabad – 380 015, Gujarat |
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|
Country : |
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|
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|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
13.01.1987 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.789 Millions |
|
|
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|
Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Trader of Instrumentation Products |
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|
|
No. of Employees
: |
21 (In office 11 + In factory 10) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba ( 49 ) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 19156 |
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|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established proprietory concern having satisfactory
track records. Trade relations are reported as fair. Business is active.
Payments are reported as usually made as per commitments. The concern 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.
INFORMATION PARTED BY
|
Name : |
Mr. Apurva |
|
Designation : |
Accounts Executive |
|
Contact No. : |
91-9327112331 |
|
Date : |
11.05.2012 |
LOCATIONS
|
Registered Office : |
D-409 Shivalik Corporate Park Behind
IOC Pump, 132 Feet Ring Road, Satellite, Ahemdabad – 380 015, Gujarat,
India |
|
Tel. No.: |
91-79-40064020 / 30487070 |
|
Mobile No. : |
91-9327112331 (Mr. Apurva) 91-9327012331 / 9428502840 [Mr. Nitin Shah] |
|
Fax No.: |
91-79-40064060 |
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E-Mail : |
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Website : |
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Area : |
1200 sq.fts |
|
Location : |
Owned |
|
|
|
|
Factory: |
Vikas, Plot No.273/1/8, Phase – II, GIDC, Vatva, Ahmedabad – 382345,
Gujarat, India |
SOLE PROPRIETOR
|
Name : |
Mr. Nitin Shah |
|
Designation : |
Proprietor |
|
Address: |
19, Hilton Residency, Opp. Reliance Petrol Pump, 100 Feet Anandnagar
Road, Satellite, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
16.11.1963 |
|
Qualification : |
Graduate |
|
Qualification : |
31 years |
KEY EXECUTIVES
|
Name : |
Mr. Apurva |
|
Designation : |
Accounts Executive |
BUSINESS DETAILS
|
Line of Business : |
Trader of Instrumentation Products |
|
|
|
|
Agencies Held : |
·
Rotork Control Private Limited - India, / UK ·
Barksdale GMBH, Germany ·
Deltech Controls Private Limited - Pune, India ·
K.Mass Control Private Limited, Savli, India ·
Bestow Industries - Faridabad ·
Rothenberger, Germany. ·
Flocon Systems Private Limited.- Chennai,India ·
Micro Process Contro- Chhatral, India |
|
|
|
|
Exports : |
|
|
Products : |
·
Incinerator Systems
(For Hazardous and Bio-Medical Solid and Liquid Combined Waste) ·
Incinerator Systems
(For Hazarsous Liquid Waste) |
|
Countries : |
|
|
Trade
References: |
Po No.: 77/Landfill Projects For USD: 147,000.00 (Bl No.: Epirindasd101074 - July 2008)
Po No.: P12861 For USD: 325,000.00 (Bl No.: Aplu054458918 April 2011) |
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Imports : |
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Products : |
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Countries : |
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|
Trade
References: |
Inv. No: R133562/ Dt. 23.11.2011 EURO: 2705.00 (B/L No: 5200875761 Dt. 24.11.2011)
Inv. No: R132737/ Dt. 27.10.2011 EURO1627.00 (B/L No: 5198718662 Dt. 27.10.2011)
Inv. No: R134338/ Dt. 20.12.2011 EURO 4551.00 (B/L No: 5203702534 Dt. 20.12.2011)
Inv. No: R911814 Dt. 25.02.2009 EURO 1922.00 Through Foreign Post.
Inv. No: R818364 Dt. 11.08.2008 EURO 7435.00 Through Foreign Post
Inv. No.: 1606 Dt. 13-04-2007 DHL Post Airway Bill No.: 7360308023
Inv.: No. I549 31st Jan. 2006 Airway Bill No. 8103630994368 By FADEX
Inv.: No. 9000254045 21st Sept. 2008 Airway Bill No. 5426970356 By DHL
Inv.: No. 09 Dt. 15th Sept. 2009 EURO 15168.00 Airway Bill No. 5426970356 By DHL
Inv. No: 246747 /Dt. 30.11.2010 EURO: 1720.00 (B/L No: 2000292770 Dt. 06.12.2010)
Inv. No. 1001 Dt. 21st Oct. 2011 USD 1989.75
Dispatch under process. expected end of this |
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Terms : |
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|
Selling : |
L/C, Cash |
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Purchasing : |
L/C, Cash, Credit |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Incinerator Systems, Waste Management Products, Valves, Precision Components. |
Tons |
|
50 |
50 |
GENERAL INFORMATION
|
Suppliers : |
Rotork Controls India Private Limited |
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Customers : |
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No. of Employees : |
21 (In office 11 + In factory 10) |
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|
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Bankers : |
· Kotak Mahindra Bank, Shivranjani Char Rasta, Satellite, Ahmedabad - 380015 · Bank of Baroda, Maninagar Main Branch, Maninagar Char Rasta, Ahmedabad - 380008 |
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|
|
Facilities : |
· Kotak Mahindra Bank - Credit Limit : 3.000 Million. ·
Bank of Baroda - Credit: Non Funding Limit:
2.000 Million, CC: 0.300 Million |
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|
|
Banking
Relations : |
---- |
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|
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Auditors : |
|
|
Name : |
N K Aswani and Company Chartered Accountants |
|
Address : |
701/A, Block, Wall Street-1, Opp. Orient Club, Nr. Gujarat College
Crossing, Ellisbridge, Ahmedabad - 380006 |
|
Tel. No.: |
91-79-26402552 |
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|
|
|
Associates/Subsidiaries : |
1] Name : Zylok Valves and Engineering Industries Address : D-409, Shivalik Corporate Park, Behind IOC Petrol Pump, 132 Feet Ring Road, Satellite, Ahmedabad - 380015 Line of Business : Valves and Engineering Products. 2] Name : Vikas Engineering Address : 273/1/8, Phase-II, GIDC, Vatva, Ahmedabad - 382345 Line of Business : Chemical Machinery |
CAPITAL STRUCTURE
|
Particulars |
31.03.2011 Rs.
In Millions |
|
Proprietors Capital |
4.789 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
35.000 |
Expected Sales ( 2012-2013 ) : Rs.40.000 millions
The above information has been parted by Mr. Apurva [Accounts Executive]
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietors Capital |
|
4.789 |
5.776 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
4.789 |
5.776 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.451 |
(0.160) |
|
|
2] Unsecured Loans |
|
5.959 |
0.691 |
|
|
TOTAL BORROWING |
|
6.410 |
0.531 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
11.199 |
6.307 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
6.206 |
5.350 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
1.259 |
1.372 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
|
|
|
Sundry Debtors |
|
|
|
|
|
Cash & Bank Balances |
|
29.361 |
12.683 |
|
|
Other Current Assets |
|
|
|
|
|
Loans & Advances |
|
|
|
|
Total
Current Assets |
|
29.361 |
12.683 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
25.627 |
13.098 |
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
|
25.627 |
13.098 |
|
|
Net Current Assets |
|
3.734 |
(0.415) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
11.199 |
6.307 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income and other Income |
|
90.998 |
34.066 |
|
|
|
Closing Stock |
|
16.973 |
7.638 |
|
|
|
TOTAL |
|
107.971 |
41.704 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Opening Stock |
|
7.638 |
3.338 |
|
|
|
Purchase Import |
|
1.224 |
2.537 |
|
|
|
Purchase LR Sold. |
|
1.543 |
0.196 |
|
|
|
Purchase of Shares |
|
3.783 |
16.360 |
|
|
|
Purchase of Shares FO |
|
65.840 |
7.956 |
|
|
|
Purchase OGS |
|
4.068 |
1.283 |
|
|
|
Purchase Tax |
|
8.640 |
1.624 |
|
|
|
Purchase Against Form
"H" |
|
8.152 |
0.00 |
|
|
|
Purchase of Fustek Option |
|
0.043 |
0.000 |
|
|
|
Purchase Import: Custom
Duty |
|
0.567 |
0.319 |
|
|
|
Purchase Import: Ser.
Charge |
|
0.000 |
0.011 |
|
|
|
Purchase Import: Trans.
Charges |
|
0.040 |
0.020 |
|
|
|
General & Administrative Expenses |
|
4.729 |
3.814 |
|
|
|
TOTAL |
|
106.267 |
37.458 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1.704 |
4.246 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.331 |
0.174 |
|
|
|
|
|
|
|
|
|
|
PROFIT FOR THE
YEAR |
|
1.373 |
4.072 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
6.69 |
2.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.14 |
0.96 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Sundry Creditors 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 |
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 |
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
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
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 |
-- |
|
30) Major Shareholders, if available |
-- |
TRADE REFERENCES:
·
Adani Power
Limited, PO Mundra,Mr. Pavanraj Shinde GM-C&I (M):09687660429
·
Nuclear
Power Corporation Of India (All India), Mr. Dheeresh Jain –AGM-Purchase (M):
01475-242128
·
Reliance
Indistries Limited, Jamnagar, Mr. Axay Shah (Purchase) (O): 2884-4012479
·
ABG Kandla
Container terminal, Kandala, Mr. Rakesh Thapa MGR-Eng. (M): 9979876547
·
GSECL,
UKAI (Gujarat Electricity Board), Mr. D H Chaudhary (Executive Engineer) (M):
09925213085
·
Suzlon
Structures Limited, Mr. Vijay Kumar Patel
(Purchase) M: 098795 24268
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.53.33 |
|
|
1 |
Rs.86.10 |
|
Euro |
1 |
Rs.69.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YEs |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
no |
|
--OTHER MERIT FACTORS |
YES/NO |
yes |
|
TOTAL |
|
49 |
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.