MIRA
INFORM REPORT
|
Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
GO SPORTZ GLOBAL INFRATECH PRIVATE LIMITED (w.e.f. 17.09.2012) |
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Formerly Known
As : |
AARESS FLOOR ZONE PRIVATE LIMITED |
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Registered
Office : |
1, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
19.04.2006 |
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Com. Reg. No.: |
11-161242 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U51109MH2006PTC161242 |
|
|
|
|
IEC No.: |
0306070278 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA28435B MUMN11852B |
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PAN No.: [Permanent Account No.] |
AAFCA6964M AABCN9831C |
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|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Importer of Rephouse
(Rubber Flooring), Balterio (Laminate Flooring) |
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|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5200 |
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Status : |
Small company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activates are
limited. Trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small to medicore business dealing
with slight caution. Note: Profit and Loss account for the current year is not available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries, and a
multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rehan
Abdulraue Sumar |
|
Designation : |
Director |
|
Contact No.: |
91-9821322674 |
|
Date : |
24.11.2012 |
LOCATIONS
|
Registered Office : |
1, |
|
Tel. No.: |
91-22-22040351 / 22151809 / 22151859 |
|
Mobile No.: |
91-9821322674 (Mr.
Rehan Abdulraue Sumar) |
|
Fax No.: |
91-22-22040350 / 21322674
/
22151809 / 22151809- Ext. 12 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
77, Arsiwala Building, Wodehouse Road, Mumbai - 400 005, Maharashtra,
India |
|
Tel. No.: |
91-22-22626106 / 33 |
|
Fax No.: |
91-22-22626106 EXT. 12 |
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E-Mail : |
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|
Area : |
1600 sq. ft |
|
Location : |
Rented |
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|
|
|
Godown : |
M-1, M-2, M-3,
Raj Laxmi Commercial Complex Compound, |
|
Area : |
800 sq. ft |
|
Location : |
Rented |
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Show Room 1 : |
R Mall, 2nd
Floor, # 24, L.B.S. Marg, Mulund (West), Mumbai – 400 080, |
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Tel. No.: |
91-22-67107050/51 |
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Show Room 2: |
Ishanya, Arcade 02,
Second Level, Opposite Golf Course, Yerwada, Pune - 411 006, Maharashtra,
India |
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Tel No.: |
91-20-41280114 |
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|
|
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Show Room 3: |
Empire Shopping
Center, 1st Floor, Shop # F10, M.G. Road, Mangalore - 575 003,
Karnataka, India |
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Tel No.: |
91-824-2494545 |
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|
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Branch Office : |
Located at:
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DIRECTORS
As on 05.09.2011
|
Name : |
Mr. Rehan
Abdulraue Sumar |
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Designation : |
Director |
|
Address : |
1 Tulip Building,
Ground Floor, 3rd |
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Date of Birth/Age : |
30.06.1970 |
|
Qualification : |
B. Com. |
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Date of Appointment : |
19.04.2006 |
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PAN No.: [Permanent Account No.] |
ANUPS7296P |
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DIN No.: |
01900848 |
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|
|
|
Name : |
Mrs. Amberin
Rehan. Sumar |
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Designation : |
Director |
|
Address : |
1 Tulip Building,
Ground Floor, 3rd |
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Date of Birth/Age : |
23.12.1974 |
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Qualification : |
B. Com. |
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Date of Appointment : |
19.04.2006 |
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PAN No.: [Permanent Account No.] |
AVWPS3737M |
|
DIN No.: |
01966532 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rehan Abdulraue Sumar |
|
25000 |
|
Amberin Rehan. Sumar |
|
25000 |
|
Total |
|
50000 |
As on 05.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer of
Rephouse (Rubber Flooring), Balterio (Laminate Flooring) |
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Products : |
· Laminate Flooring · Rubber Flooring · Wall Covering |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Customers : |
End Users ·
Lodha Builders Parel ·
Cathedral and John Conon School ·
Ecole Mondiale World School ·
Fazlani L Academie Globale ·
American School of Bombay ·
Celebrations Club ·
Oberoi International School ·
Lodha International School ·
Hiranandani Gardens ·
Cricket Club of India ·
Fitness First ·
Gold’s Gym ·
True Fitness ·
Malabar Hill Club ·
Talwalkars ·
Seth Builders ·
Godfrey Philips India Limited ·
Sumeet Appliances Private Limited ·
Dilip Chabbria Design |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
L. K. Jain and Company Chartered
Accountant |
|
Address : |
9/303, Pavan Baug, |
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Tel. No.: |
91-22-28742511 |
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Mobile No.: |
91-9821056558 |
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E-Mail : |
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PAN No.: [Permanent Account No.] |
AABPJ8686L |
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Associates: |
· Associated Weavers · Balta · Prime · Al- Soriya Carpet Factory · Balsan · Rep House · Nelca · Prado · Balterio |
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|
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Subsidiaries: |
·
Aar Ess Address: 19 A/ 308, Grants Building Annex, 1st Floor, Behind Strand
Cinema, Colaba, Mumbai – 400 005, Maharashtra, India. Line of
Business: Flooring · S. R. Enterprises Address: 37, Grants Building Annex, 1st Floor,
Behind Strand Cinema, Colaba, Mumbai – 400 005, Maharashtra, India. Line of Business : Flooring |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
Million |
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|
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 |
0.500 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.818 |
0.141 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.489) |
|
|
NETWORTH |
1.318 |
0.641 |
0.011 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
8.400 |
6.770 |
6.670 |
|
|
TOTAL BORROWING |
8.400 |
6.770 |
6.670 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9.718 |
7.411 |
6.681 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.541 |
0.547 |
0.528 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.025 |
0.020 |
0.013 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18.603
|
15.950 |
16.819 |
|
|
Sundry Debtors |
5.867
|
2.424 |
1.720 |
|
|
Cash & Bank Balances |
0.237
|
0.401 |
0.338 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.790
|
2.501 |
1.601 |
|
Total
Current Assets |
27.497
|
21.276 |
20.478 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.844 |
7.286 |
8.833 |
|
|
Other Current Liabilities |
8.257
|
4.569 |
2.358 |
|
|
Provisions |
1.264
|
2.600 |
3.174 |
|
Total
Current Liabilities |
18.365
|
14.455 |
14.365 |
|
|
Net Current Assets |
9.132
|
6.821 |
6.113
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.020 |
0.023 |
0.027 |
|
|
|
|
|
|
|
|
TOTAL |
9.718 |
7.411 |
6.681 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales Turnover |
|
26.400 |
25.734 |
|
|
|
Other Income |
|
NA |
1.650 |
|
|
|
TOTAL |
|
NA |
27.384 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Provision and Operational Expenses |
|
|
18.050 |
|
|
|
Administrative Expenses |
|
|
9.969 |
|
|
|
TOTAL |
|
NA |
28.019 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
NA |
(0.635) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
NA |
0.137 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
0.880 |
(0.772) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.630 |
0.166 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
0.250 |
(0.938) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
|
5.00 |
(18.76) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
0.95 |
(3.43)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
(2.99)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
4.03 |
(3.68)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
1.37 |
(70.18)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
20.31
|
33.11 |
1912.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.47 |
1.43 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors for Goods and Expenses |
8.844 |
7.286 |
8.833 |
|
Total |
8.844 |
7.286 |
8.833 |
|
Sr. No. |
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
Yes |
|
17] |
Major suppliers |
No |
|
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FUTURE PROSPECTS
During the current year Company has made substantial growth in turnover. The Directors has approached foreigner supplier for the reimbursement of sales promotion expenses and also for the incentive for selling their products. The Company has also started taking up installation job work for all results.
TRADE REFERENCES:
·
Lodha Builders Parel
FIXED ASSETS:
- Computer
- Electrical Installments
- Furniture and
Fixture
- Laptop
- Plant and
Machinery
- Printer
- Rack
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 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 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.55.34 |
|
|
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.