MIRA
INFORM REPORT
|
Report Date : |
22.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
MIURA TRADING AND FINVEST PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
201 – Creative Estate 12 N M Joshi Marg, Lower Parel ( East), Mumbai
-400018 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
30.12.1994 |
|
|
|
|
Com. Reg. No.: |
11-084172 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1994PTC084172 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM21560A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM9750A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the National/ International distribution of
Petrochemicals, Pharmaceuticals, Intermediates, Catalysts, Rare Earths and
Metals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a well 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 : |
201 – Creative Estate 12 N M Joshi Marg, Lower Parel ( East), Mumbai
-400018 Maharashtra, India |
|
Tel. No.: |
91-22-23088624 / 23083820 |
|
Fax No.: |
91-22-23087449 |
|
E-Mail : |
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|
Website : |
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|
|
|
Kolkata Office : |
Unit 603, 5th Floor, Shilpangan Toy Park, Block LB1, Sector
3, Salt Lake City, Kolkata – 700098, West Bengal, India |
|
Tel. No.: |
91-33-23351818 / 23351819 |
|
Fax No.: |
91-33-23358181 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Gaurav Dipak Himatsingka |
|
Designation : |
Director |
|
Address : |
41 – Somerset House, Opposite Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
19.09.1970 |
|
Date of Appointment : |
06.06.2001 |
|
DIN No.: |
00050776 |
Other Directorship:
|
S.No. |
CIN |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U51900MH1994PTC084172 |
Director |
06-06-01 |
06-06-01 |
Active |
NO |
|
2 |
U31109WB1994PTC063578 |
Director |
14-09-04 |
14-09-04 |
Active |
NO |
|
3 |
U51909WB1995PTC072059 |
Director |
06-01-05 |
06-01-05 |
Active |
NO |
|
4 |
U23109WB2005PTC103594 |
Director |
07-06-05 |
07-06-05 |
Active |
NO |
|
5 |
L22219MH1991PLC059800 |
Director |
24-01-06 |
24-01-06 |
Active |
NO |
|
6 |
U70101WB2006PTC109596 |
Director |
29-09-07 |
12-02-07 |
Converted
to LLP and dissolved |
NO |
|
7 |
U51101WB2010PTC146344 |
Director |
30-04-10 |
30-04-10 |
Active |
NO |
|
Name : |
Mr. Vivek Dipak Himatsingka |
|
Designation : |
Director |
|
Address : |
41 – Somerset House, Opposite Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
25.01.1974 |
|
Date of Appointment : |
05.09.1995 |
|
DIN No.: |
00050717 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U51900MH1994PTC084172 |
MIURA
TRADING AND FINVEST PRIVATE LIMITED |
Director |
05-09-95 |
05-09-95 |
Active |
NO |
|
2 |
U23109WB2005PTC103594 |
MIURA
INFRASTRUCTURE PRIVATE LIMITED |
Director |
07-06-05 |
07-06-05 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Gaurav Himatsingka |
42000 |
|
Gaurav Himatsingka (HUF) |
3500 |
|
Payal Himatsingka |
4500 |
|
Vivek Himatsingka |
43500 |
|
Amisha Himatsingka |
6000 |
|
Vivek Himatsingka (HUF) |
500 |
|
Total |
100000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the National/ International distribution of
Petrochemicals, Pharmaceuticals, Intermediates, Catalysts, Rare Earths and
Metals |
|
|
|
|
Products : |
Commission Consultancy Chemicals
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
|
|
Name : |
Jawahar Mantri and Associates Chartered Accountant |
|
Address : |
217 – Great Eastern Galleria, sector 4 Nerul, Navi Mumbai - 400706,
Maharashtra, India |
|
Pan No.: |
AADFJ0157G |
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 |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
30.227 |
23.104 |
20.614 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
31.227 |
24.104 |
21.614 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.600 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.600 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
31.227 |
24.704 |
21.614 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.836 |
0.838 |
1.096 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
20.850 |
21.109 |
18.858 |
|
|
DEFERREX TAX ASSETS |
0.292 |
0.043 |
0.043 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
6.390
|
4.354 |
2.248 |
|
|
Cash & Bank Balances |
2.319
|
1.699 |
0.346 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
11.084
|
8.065 |
7.547 |
|
Total
Current Assets |
19.793
|
14.118 |
10.141 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.482
|
1.612 |
1.270 |
|
|
Other Current Liabilities |
5.112
|
2.051 |
0.000 |
|
|
Provisions |
2.950
|
7.741 |
7.254 |
|
Total
Current Liabilities |
10.544
|
11.404 |
8.524 |
|
|
Net Current Assets |
9.249
|
2.714 |
1.617 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
31.227 |
24.704 |
21.614 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
65.730 |
37.242 |
97.164 |
|
|
|
Other Income |
2.897 |
2.300 |
4.315 |
|
|
|
TOTAL |
68.627 |
39.542 |
101.479 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase and Direct Expenses |
49.216 |
29.001 |
78.262 |
|
|
|
Employees Cost |
2.217 |
1.879 |
1.647 |
|
|
|
Administrative Expenses |
7.836 |
5.151 |
6.364 |
|
|
|
TOTAL |
59.269 |
36.031 |
86.273 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.358 |
3.511 |
15.206 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.250 |
0.269 |
0.349 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.108 |
3.242 |
14.857 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.102 |
0.600 |
5.125 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.006 |
2.642 |
9.732 |
|
|
|
|
|
|
|
|
|
|
Earlier year
expenses / taxes |
0.117 |
(0.152) |
0.004 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
23.104 |
20.614 |
10.878 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
30.227 |
23.104 |
20.614 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
55.907 |
35.056 |
90.271 |
|
|
|
Commission Earnings |
2.794 |
2.031 |
3.449 |
|
|
TOTAL EARNINGS |
58.701 |
37.087 |
93.720 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
46.226 |
29.724 |
78.199 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
71.22 |
24.91 |
97.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
10.21
|
6.68 |
9.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.86
|
8.71 |
15.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
43.54
|
21.61 |
131.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.13 |
0.69 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.63
|
0.50 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.24 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
No |
|
9. Name of person contacted |
No |
|
10. Designation of contact person |
No |
|
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 |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
No |
|
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 |
WORKING RESULTS
During the year,
the Company has earned a Net Profit of Rs. 7.122 Millions. After adding the
carry forward Profits of previous years amounting to Rs. 23.104 Millions, Net
Profit carried over to the Balance Sheet amounts to Rs. 30.227 Millions. The
Directors are confident of not only maintaining the existing levels of
profitability but further expanding business operations having established the
Company's credentials with its customers and suppliers.
FIXED ASSETS
·
Office Equipments
·
Furniture and Fixture
·
Computer
·
Motor Car
·
Plant and Machinery
AS PER WEBSITE
PROFILE
- Subject is
part of the US$80 million HIMATSINGKA group of companies having diverse
business interests including Engineering Services, Technology Transfer,
Project Consulting Services, International and Domestic Marketing and
Distribution of Chemicals, Plastics, Steel, Rare Earths and Metals, among
others.
- Subject was
set up in 1994 and is head quartered in India's commercial capital city
Mumbai and is well geared for furthering common goals and objectives of
its principals, affiliates and customers in India, Asia, Middle East,
Europe and Americas well into the 21st century.
- Subject is
proud to present its corporate organization and looks forward to a close,
long term and mutually beneficial business relationship.
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. 54.68 |
|
|
1 |
Rs. 86.52 |
|
Euro |
1 |
Rs. 69.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPT |
|
|
|
|
Report Prepared
by : |
-- |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.