|
Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
POLO GIFTS CREATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.38, Building No.1, Rock Industrial Estate, Nirmal Rubber Compound, I.B.
Patel Road, Goregaon (East), Mumbai – 400 063, Maharashtra |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
06.08.2002 |
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|
|
|
Com. Reg. No.: |
11-136744 |
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|
|
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36998MH2002PTC136744 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP20605E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCP8008Q |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer of Corporate Gifts. |
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|
|
|
No. of Employees
: |
6 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 200 |
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|
|
|
Status : |
Moderate |
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|
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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. There appears
some accumulated losses recorded by the company. 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
cautions. |
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. Mohit Ramesh Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-22-65291193 |
|
Date : |
23.05.2012 |
LOCATIONS
|
Registered Office/ Factory : |
No.38, Building No.1, Rock Industrial Estate, Nirmal Rubber Compound,
I.B. Patel Road, Goregaon (East), Mumbai – 400 063, Maharashtra, India |
|
Tel. No.: |
91-22-65291193/ 6972 |
|
Mobile No.: |
91-9820364494 (Mr. Mohit Ramesh Gupta) |
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Fax No.: |
91-22-26866832 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mohit Ramesh Gupta |
|
Designation : |
Director |
|
Address : |
B-43, |
|
Date of Birth/Age : |
23.08.1979 |
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Date of Appointment : |
06.08.2002 |
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DIN No.: |
01276206 |
|
|
|
|
Name : |
Ms. Niharika Mohit Gupta |
|
Designation : |
Director |
|
Address : |
B-43, |
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Date of Birth/Age : |
10.06.1979 |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
02620351 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Ramesh Gupta |
|
500 |
|
Mohit Gupta |
|
500 |
|
Total |
|
1000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Corporate Gifts. |
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Terms : |
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Selling : |
Cash and Credit (30/ 60 days) |
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|
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Purchasing : |
Cash and Credit (30/ 60 days) |
GENERAL INFORMATION
|
Suppliers : |
v Jash Packer v Jineshwar Writing Instrument
Limited v Mahesh Time Industries v Ohm Infosolutions v Shardha Enterprises v Soham International |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Customers : |
Wholesalers, Retailers, End Users and Corporate v
Abbott India Limited v
All v
Cadila Healthcare Limited v
Chamundra Products and Solution v
Deutsche Bank AG v
Galderma India Private Limited v
IPCA Laboratories Limited v
Macleods Pharma v
Miltex Apparels v
Naresh Pen Company v
Novartis India Limited v
Unichem Laboratories Limited |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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No. of Employees : |
6 (Approximately) |
||||||||||||||||||||||||
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Bankers : |
v Syndicate Bank,
Shop No-1-6, Dheeraj Heritage Daulat Nagar, Santacruz (West), Mumbai – 400
054, v Union Bank of v Punjab Maharashtra Co-Operative Bank
Limited v Central Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
J.V. Mehta and Company Chartered Accountants (Jayant V. Mehta) |
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Address : |
601, Balarama, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, |
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Tel. No.: |
91-22-30686900/ 01 |
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Income-tax
PAN of auditor or auditor's firm : |
AAAPM8762H |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100 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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.113 |
|
|
4] (Accumulated Losses) |
(0.060) |
(0.073) |
0.000 |
|
|
NETWORTH |
0.040 |
0.027 |
0.213 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.848 |
0.830 |
0.837 |
|
|
2] Unsecured Loans |
2.337 |
2.974 |
3.844 |
|
|
TOTAL BORROWING |
3.185 |
3.804 |
4.681 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.225 |
3.831 |
4.894 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.145 |
0.258 |
0.228 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.255
|
2.150 |
3.121 |
|
|
Sundry Debtors |
3.642
|
1.178 |
1.298 |
|
|
Cash & Bank Balances |
0.261
|
0.306 |
0.664 |
|
|
Other Current Assets |
0.000
|
0.005 |
0.004 |
|
|
Loans, Advances & Deposits |
0.361
|
0.488 |
0.415 |
|
Total
Current Assets |
6.519
|
4.127 |
5.502 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.872
|
0.212 |
0.616 |
|
|
Other Current Liabilities & Provisions |
0.569
|
0.346 |
0.225 |
|
Total
Current Liabilities |
3.441
|
0.558 |
0.841 |
|
|
Net Current Assets |
3.078
|
3.569 |
4.661 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.002 |
0.004 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
3.225 |
3.831 |
4.894 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
TOTAL TURNOVER |
12.923 |
8.969 |
12.267 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
0.070 |
(0.185) |
0.082 |
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
13.500 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.20.000 millions
The above information has been parted by Mr. Mohit Ramesh Gupta
(Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.05
|
(4.22) |
1.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.75
|
(6.85) |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
165.65
|
161.56 |
25.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.89
|
7.40 |
6.54 |
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 |
|
|
|
|
Alaan Leather |
0.000 |
0.048 |
0.000 |
|
Archon Overseas |
0.000 |
0.025 |
0.000 |
|
|
0.000 |
0.002 |
0.000 |
|
Multi Media Impex |
0.000 |
0.087 |
0.087 |
|
Pooja Promotions |
0.000 |
0.032 |
0.000 |
|
Time Promotions |
0.000 |
0.018 |
0.000 |
|
Jash Packer |
(0.001) |
0.000 |
0.000 |
|
Jineshwar Writing Instrument Limited |
(0.011) |
0.000 |
0.000 |
|
Mahesh Time Industries |
2.702 |
0.000 |
0.000 |
|
Ohm Infosolutions |
0.008 |
0.000 |
0.000 |
|
Shardha Enterprises |
0.179 |
0.000 |
0.000 |
|
Soham International |
(0.005) |
0.000 |
0.000 |
|
Ankur Creations-02 |
0.000 |
0.000 |
0.252 |
|
Arihant Gift |
0.000 |
0.000 |
0.021 |
|
Bhuva Brass Components |
0.000 |
0.000 |
0.151 |
|
Designer Watches Private Limited |
0.000 |
0.000 |
0.099 |
|
Laser Imprez |
0.000 |
0.000 |
(0.030) |
|
Moraya Sajwat |
0.000 |
0.000 |
0.002 |
|
Shree Vinayaka Traders |
0.000 |
0.000 |
0.022 |
|
Soham International |
0.000 |
0.000 |
(0.050) |
|
Sundeep Associates-PUR |
0.000 |
0.000 |
0.062 |
|
Total |
2.872 |
0.212 |
0.616 |
|
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 |
No |
|
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 |
No |
|
17) Major
suppliers |
Yes |
|
18) Major
customers |
Yes |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
No |
|
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 Queens Park Building, Opposite Lido Cinema, Juhu Road, Santacruz (West), Mumbai – 400 049, Maharashtra to the present address as confirmed by Mr. Mohit (Director).
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U36998MH2002PTC136744 |
|
Name of the
company |
POLO GIFTS CREATIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
E-Mail: sharadgawade@ymail.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Syndicate Bank, Shop No-1-6, Dheeraj Heritage Daulat Nagar, Santacruz
(West), Mumbai – 400 054, E-Mail: svg1959@yahoo.com |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Agreement. |
|
Date of
instrument Creating the charge |
24.09.2011 |
|
Amount secured by
the charge |
Rs.1.000 million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: BR + 4% - 0.25%
=14.50% Margin: 30% Extent and
Operation of the charge: The Charge will
operate to the extent of Rs.1.000 million on the security offered by the
Company. |
|
Short particulars
of the property charged |
The borrower
hereby hypothecate all goods, stock, raw materials, finished goods,
unfinished goods, moveable property of any kind plant machinery, fixture,
implements, fittings and other installations furniture, vehicles, computers
and all other articles and things both present and future whether installed
or not whether lying loose or in transit or installed at No.38, Rocky
Co-operative Industrial Estate, Building No.1 Nirmal Rubber Compound, I.B.
Patel Road, Goregaon (East), Mumbai-400063. All the borrowers
present and future other debts ,outstanding
monies,receivables.claims,bills,contracts,securities,investments,goodwill,rights
and assets offered as security by the Company. |
FIXED ASSETS:
v Fax Machine
v Mobile
Phone
v Computer
v Motor Car
v Trade Mark
Regn. Fees
v Air
Condition
v Water
Purifier
v Furniture
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.55.93 |
|
|
1 |
Rs.88.15 |
|
Euro |
1 |
Rs.70.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
YES |
|
--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 |
|
- |
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.