|
Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
BASAR GLOBAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
201, Standard House, 83, Maharshi Karve Road, Marine Lines,
Mumbai-400002, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 [Provisional] |
|
|
|
|
Date of
Incorporation : |
09.02.2012 |
|
|
|
|
Com. Reg. No.: |
11-226626 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.150.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29100MH2012PTC226626 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECB8706H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Stainless Steel Kitchenware Items, Straight Threaded Nut
Faster Made of Alloy Steel, Cup Washer Made of Ally Steel Readymade Garments,
Textile Products, Top Cut Nut and Universal Jack Nut, Spanner, other
commodity products. |
|
|
|
|
No. of Employees
: |
33 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 750000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “The Basar Group”. It is a relatively new company having a satisfactory track record. It
has achieved a healthy income from its operation in its first year of
operation. i.e. 2013. The profitability is also good. Trade relations are reported as decent. Business is active. Payment
terms are 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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
|
Name : |
Ms. Bhavika Gandhi |
|
Designation : |
Senior Manager in Finance |
|
Contact No.: |
91-9833534713 |
|
Date : |
12.03.2013 |
LOCATIONS
|
Registered Office : |
201, Standard House, 83, Maharshi Karve Road, Marine Lines,
Mumbai-400002, Maharashtra, India |
|
Tel. No.: |
91-22-61409900 |
|
Mobile No.: |
91-9833534713 [Ms. Bhavika Gandhi] |
|
Fax No.: |
91-22-61409999 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Administrative / Corporate Office
: |
1, Peninsula Corporate Park, B Wing, Ganpat Rao Kadam Marg, Lower
Parel, Mumbai-400013, Maharashtra, India |
|
Area : |
4400 sq. ft. |
|
Location : |
Rented |
DIRECTORS
|
Name : |
Mr. Umer Basar |
|
Designation : |
Director |
|
Address : |
23A – Belvedre Court, B Wing, Mahalaxmi, Mumbai – 400011, Maharashtra,
India |
|
Date of Birth/Age : |
13.10.1983 |
|
Qualification : |
Undergraduate |
|
Experience : |
13 Years |
|
PAN No: |
AAECB8706H AEZPB5152K |
|
Din No.: |
00780824 |
|
|
|
|
Name : |
Mrs. Rashida Mohamed Farooq Basar |
|
Designation : |
Director |
|
Address : |
8th Floor, 82 – Kalpataru Height, Dr. A.R. Nair Road,
Agripada, Mumbai – 400011, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1960 |
|
Qualification : |
Undergraduate |
|
Experience : |
10 Years |
|
PAN No: |
AERPB1079D |
|
Din No.: |
00294587 |
|
|
|
|
Name : |
Mr. Ahmed Iqbal Abed Shaikh |
|
Designation : |
Director |
|
Address : |
8/66, Motilal Nagar No.1, Goregaon (west), Mumbai – 400104, Maharashtra,
India |
|
Date of Birth/Age : |
17.09.1984 |
|
Qualification : |
Undergraduate |
|
Experience : |
10 Years |
|
PAN No: |
BCOPS3868M |
|
Din No.: |
03464352 |
KEY EXECUTIVES
|
Name : |
Ms. Bhavika Gandhi |
|
Designation : |
Senior Manager in Finance |
|
|
|
|
Name : |
Mr. Vilas Unavane |
|
Designation : |
Chief Financial
Officer |
|
|
|
|
Name : |
Mr. Y.S. Rao |
|
Designation : |
Chief Executive
Officer |
|
|
|
|
Name : |
Mr. Peerzade |
|
Designation : |
H.R. and Admin
Department [Director] |
|
|
|
|
Name : |
Mr. Mujib Sayed |
|
Designation : |
Chief Operating
Officer |
|
|
|
|
Name : |
Ms. Julie Debnath |
|
Designation : |
Assistant Manager
Finance |
|
|
|
|
Name : |
Mr. Kishor More |
|
Designation : |
Assistant Manager
Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.02.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Umer Basar |
1497500 |
99.83 |
|
Rashida Mohamed Farooq Basar |
2500 |
0.17 |
|
|
|
|
|
TOTAL
|
1500000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Stainless Steel Kitchenware Items, Straight Threaded Nut
Faster Made of Alloy Steel, Cup Washer Made of Ally Steel Readymade Garments,
Textile Products, Top Cut Nut and Universal Jack Nut, Spanner, other
commodity products. |
|
|
|
|
Exports : |
|
|
Products : |
·
Stainless Steel Kitchen Items ·
Ready Made Garments ·
Textile Products ·
Rice ·
Straight threaded nut faster made of alloy steel,
·
Cup washer made of alloy steel ·
Top Cut Nut ·
Universal Jack Nut ·
Spanner |
|
Countries : |
·
UAE ·
Saudi Arabia ·
Egypt ·
Cameroon ·
Zimbabwe ·
Ghana Sudan ·
Guatemala ·
Malaysia ·
UK ·
Hong Kong |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (90 - 180 Days) |
|
|
|
|
Purchasing : |
Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers / Retailers · Al Saaei Trading LLC · Calicom Trading · Sheeba General Trading LLC · H.S. IND (HK) Limited · Cedilla Trading LLC · Bhu Sampada General Trading LLC · Jay Bee Overseas LLC · Red Beacon General Trading LLC · Summerset Trading FZC |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
33 [Approximately] |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
Bank of Maharashtra, Nariman Point, Overseas
Branch, Mittal Court, Mumbai-400021, Maharashtra, India Credit
Limit: Rs.100.000 Millions Post Shipment Bill Discounting Limits. Tel
No.: 91-22-22843282/22045010/22044917 Fax
No.: 91-22-22881845 Email: bom1006@mahabank.co.in SWIFT: MAHBINBBOVM ·
United Bank of India, Overseas Branch, UBI
Building, 1st Floor, 25, Sir P.M. Road, Fort, Mumbai-400001,
Maharashtra, India Credit
Limit: Rs.100.000 Millions Post Shipment Bill Discounting Limits. Tel
No.: 91-22-22840502/22840429 Fax
No.:91-22-22040120 SWIFT: UTBIINBB ·
Andhra Bank, Fort Branch, 18, Homi Modi Street,
Nanavati Mahalaya, Fort, Mumbai-400001, Maharashtra, India Credit
Limit: Rs.100.000 Millions Post Shipment Bill Discounting Limits. |
|||||||||||||||
|
|
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C.V.K. and Associates Chartered Accountants |
|
Address : |
2, Samarth Apartments, D.S. Babrekar Road, Dadar (West),
Mumbai-400028, Maharashtra, India |
|
Tel. No.: |
91-22-24468717/24451488 |
|
Fax No.: |
91-22-24466139 |
|
E-Mail : |
|
|
PAN No: |
|
|
|
|
|
Sister Concern : |
·
Basar Steel
Private Limited Address: 1, Peninsula Corporate
Park, B Wing, Ganpat Rao Kadam Marg, Lower Parel, Mumbai-400013, Maharashtra,
India Line
of Business: Merchandized Export Trading of Commodity Products. |
|
|
|
|
Group Company : |
·
Basar Foods Private Limited ·
Basar Construction Private Limited |
|
|
|
|
Subsidiary : |
Basar Middle East FZE P.O. Box No. 8482, Saif Zone, Sharjah, UAE |
|
Tel. No.: |
00971552000902 [Mr. Fahad Reshamwala] |
|
Fax No.: |
0097143799970 |
|
E-Mail : |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 [Provisional] |
30.09.2012 [6 Months] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
150.000 |
5.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
37.556 |
6.168 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
187.556 |
11.168 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
327.143 |
119.142 |
|
|
2] Unsecured Loans |
|
4.385 |
4.527 |
|
|
TOTAL BORROWING |
|
331.528 |
123.669 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
519.084 |
134.837 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.711 |
1.032 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
2.226 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
85.146 |
|
|
Sundry Debtors |
|
457.618 |
279.968 |
|
|
Cash & Bank Balances |
|
26.550 |
1.505 |
|
|
Other Current Assets |
|
0.909 |
3.981 |
|
|
Loans & Advances |
|
146.080 |
32.135 |
|
Total
Current Assets |
|
631.157 |
402.735 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
110.599 |
263.821 |
|
|
Other Current Liabilities |
|
0.390 |
4.082 |
|
|
Provisions |
|
4.021 |
1.027 |
|
Total
Current Liabilities |
|
115.010 |
268.930 |
|
|
Net Current Assets |
|
516.147 |
133.805 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
519.084 |
134.837 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 [Provisional] |
30.09.2012 [6 Months] |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
728.882 |
305.321 |
|
|
|
Other Income |
|
65.090 |
27.033 |
|
|
|
TOTAL (A) |
|
793.972 |
332.354 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-Trade |
|
676.953 |
378.111 |
|
|
|
Export Releated Expenses |
|
12.507 |
8.515 |
|
|
|
Employees Benefits Expense |
|
24.903 |
6.785 |
|
|
|
Other Expenses |
|
17.374 |
10.030 |
|
|
|
Changes in Inventories of Stock in Trade |
|
0.000 |
(85.042) |
|
|
|
TOTAL (B) |
|
731.737 |
318.399 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
62.235 |
13.955 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
24.452 |
5.037 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
37.783 |
8.918 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.227 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
37.556 |
8.918 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
2.756 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
37.556 |
6.162 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
25.04 |
123.25 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 [Provisional] |
30.09.2012 [6 Months] |
|
PAT / Total Income |
(%) |
|
4.73 |
1.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
5.15 |
2.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
5.94 |
2.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.20 |
0.80 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.77 |
11.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
5.49 |
1.50 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
|
31] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loan |
AS ON 31.03.2013 [Provisional] |
AS ON 30.09.2012 [6 Months] |
|
|
RS. IN MILLIONS |
|
|
Intercorporate
Loan |
|
|
|
Basar Impex Private Limited |
0.000 |
0.710 |
|
Basar Construction Private Limited |
0.000 |
2.308 |
|
Basar Steel Private Limited |
0.000 |
0.382 |
|
Loan From Directors |
4.385 |
1.127 |
|
TOTAL
|
4.385 |
4.527 |
TRADE REFERENCES:
· Al Saaei Trading LLC
· Calicom Trading
· Sheeba General Trading LLC
· H.S. IND (HK) Limited
· Cedilla Trading LLC
· Bhu Sampada General Trading LLC
· Jay Bee Overseas LLC
· Red Beacon General Trading LLC
· Summerset Trading FZC
·
Alis
Rice Exports FZC
·
Earnest
Impex SDN BHD
·
Million
Century Garment ltd
·
Top
Worth Corporation Limited
·
Fabrik
Desire SDN BHD
·
Kilaun
Sutera SDN BHD
·
Blue
shine General Trading LLC
OPERATING STATEMENT
Rs. in Millions
|
SR. NO. |
PARTICULAR |
2013-14 [PROJECTED] |
2014-15 [PROJECTED] |
|
|
|
|
|
|
|
Sales-Exports |
1500.000 |
2000.000 |
|
|
Sales-Local |
-- |
-- |
|
|
Export Incentives |
132.700 |
176.900 |
|
|
Export Incentives - Focus Marketing scheme |
-- |
-- |
|
1. |
Gross Sales |
1632.700 |
2176.900 |
|
2. |
Less: Sales Tax/Excise Paid |
-- |
-- |
|
3. |
Net Sales |
1632.700 |
2176.900 |
|
4. |
%age rise (+)or fall (-) in net sales as compared to previous year |
88% |
33% |
|
5. |
Cost of Sales |
|
|
|
|
i) Raw Material including stores and other items used in the process
of manufacture indigenous/Imported |
1526.500 |
1981.700 |
|
|
indigneous/Imported |
-- |
-- |
|
|
iii) Direct Labour |
-- |
-- |
|
|
iv) Power & Fuel |
-- |
-- |
|
|
Other Direct Expenses |
41.800 |
55.700 |
|
|
v) Depreciation |
01.000 |
01.000 |
|
|
1569.300 |
2038.400 |
|
|
|
vii) Add:
Opening WIP |
-- |
-- |
|
|
viii)Sub total |
1569.300 |
2038.400 |
|
|
ix) Less: Closing WIP |
-- |
-- |
|
|
x) Cost Of Production |
1569.300 |
2038.400 |
|
|
xi) Add: Opening Stock of Finished Goods |
98.800 |
185.300 |
|
|
Sub Total |
1668.100 |
2223.800 |
|
|
Less: Closing Stock of finished Goods |
185.300 |
247.100 |
|
|
xiii) Total Cost of Sales |
1482.800 |
1976.700 |
|
6. |
Selling, General and Administrative Exp. |
38.700 |
42.600 |
|
7. |
Sub Total (5+6) |
1521.500 |
2019.300 |
|
|
|
|
|
|
8. |
Operating Profit before Interest (3-7) |
111.200 |
157.600 |
|
|
% |
6.81% |
7.24% |
|
9. |
Financial Expenses (Bill Discounting Charges) |
50.400 |
68.000 |
|
10. |
Operating Profit after Interest (8-9) |
60.800 |
89.600 |
|
|
% |
4.056% |
4.48% |
|
11. |
i)Add: Other Non Operating Income |
|
|
|
|
Interest, Dividend,
Subsidy |
-- |
-- |
|
|
Profit on sale of Motor
Car |
-- |
-- |
|
|
ii) Less: Other Non Operating Expenses |
|
|
|
|
Loss on sale of Factory Buldg & Machinery |
-- |
-- |
|
|
Preliminary Expenses written/Off |
-- |
-- |
|
|
Sub-Total (Expenses) |
-- |
-- |
|
|
iii) Net of Other Non Operating Income/Exp. |
-- |
-- |
|
|
[Net of 11(i)&11(ii) |
-- |
-- |
|
12. |
Profit before Tax/Loss[10+11(iii)] |
60.800 |
89.600 |
|
13. |
Deferred Tax |
-- |
-- |
|
|
Provision for Taxation-Current Year |
18.800 |
27.700 |
|
14. |
Net Profit/Loss(12-13) |
42.000 |
61.900 |
|
|
Prior Period Adjustments |
|
|
|
|
|
42.000 |
61.900 |
|
15. |
a)Equity Dividend Paid |
|
|
|
|
b) Dividend Rate |
|
|
|
16. |
Retained Profit(14-15) |
42.000 |
61.900 |
|
|
Retained Profit % |
100% |
100% |
|
|
Net Profit % |
2.57% |
2.84% |
ANALYSIS OF BALANCE SHEET
Rs. in Millions
|
SR. NO. |
PARTICULAR |
2013-14 [PROJECTED] |
2014-15 [PROJECTED] |
|
|
|
|
|
|
1. |
Short Term Borrowings from banks (Incl. Bills purchased, discounted
and excess borrowings placed on
repayment basis) |
|
|
|
|
i) Packing Credits for Stock |
-- |
-- |
|
|
ii) Packing Credit for Advance |
-- |
-- |
|
|
iii) Post Shipment Finance |
700.000 |
850.000 |
|
|
iv) Bills Payable |
-- |
-- |
|
|
Sub Total (A) |
700.000 |
850.000 |
|
2. |
Short Term Borrowings from others |
-- |
-- |
|
3. |
Sundry Creditors (Trade) |
225.800 |
293.100 |
|
4. |
Advance Payments from Customers/ Deposits from dealers |
-- |
-- |
|
5. |
Provision for Taxation |
18.800 |
27.700 |
|
6. |
Dividend Payable |
-- |
-- |
|
7. |
Other Statutory Liabilities |
-- |
-- |
|
8. |
Deposits/Installments of term loans/DPGs/ Working Capital Term Loan
(Due within 1 year) |
-- |
-- |
|
9. |
Other Current Liabilities and Provisions |
-- |
-- |
|
|
Creditors for Others |
-- |
-- |
|
|
Sub Total (B) |
244.600 |
320.800 |
|
10. |
Total Current Liabilities (1 to 9) |
944.600 |
1170.800 |
|
|
TERM LIABILITIES |
|
|
|
11. |
Debentures (not maturing within one year) |
-- |
-- |
|
12. |
Preference Shares (redeemable after 1 year) |
-- |
-- |
|
13. |
Term Loans (excluding installments payable within one year) |
-- |
-- |
|
16. |
Unsecured Loans/Quasi Equity |
-- |
-- |
|
17. |
Total Term Liabilities (Total of 11 to 16) |
-- |
-- |
|
18. |
Total outside Liabilities (10+17) |
944.600 |
1170.800 |
|
|
NET WORTH |
|
|
|
19. |
Ordinary Share Capital |
200.000 |
250.000 |
|
19 a |
Share Application Money |
-- |
-- |
|
20 |
General Reserves |
-- |
-- |
|
21. |
Capital Reserves |
-- |
-- |
|
22. |
Unsecured Loan from Directors/ others Deferred Tax Liability |
-- |
-- |
|
23. |
Surplus (+) or Deficit (-) in Profit & Loss A/c |
63.000 |
124.900 |
|
24. |
Net worth |
263.000 |
374.900 |
|
25. |
Total
Liabilities (18+24) |
1207.600 |
1545.800 |
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
26. |
Cash and Bank balances |
36.700 |
36.700 |
|
27. |
Investments (Other than long term investment) |
-- |
-- |
|
|
i) Government and other trustee securities |
-- |
-- |
|
|
ii) fixed Deposits with Banks |
-- |
-- |
|
28. |
i) Receivables other than deferred and exports including bills
purchased & discounted by banks |
-- |
-- |
|
|
a) Drawback Receivable |
-- |
-- |
|
|
b) Market/Target Plus Licence Receivable |
-- |
-- |
|
|
ii) Export Receivables (including bills purchased discounted by Banks) |
737.500 |
983.300 |
|
29. |
Installments of deferred receivables |
-- |
-- |
|
|
(due within one year) |
-- |
-- |
|
30. |
Inventory: |
-- |
-- |
|
|
i) Packing Materials(including stores and other items used in the process of manufacture) |
-- |
-- |
|
|
Imported/indigenous |
-- |
-- |
|
|
ii) Stocks in Process |
-- |
-- |
|
|
iii) Finished Goods |
185.300 |
247.100 |
|
|
iv) Consumables Stores- Imported/ Indigenous |
-- |
-- |
|
31. |
Advances to suppliers |
222.000 |
244.500 |
|
32. |
Advance payment of Taxes |
18.800 |
27.700 |
|
33. |
Other current assets (Loans Given& ) |
05.000 |
05.000 |
|
|
|
|
|
|
34. |
Total Current Assets (Total of 26 to 33) |
1205.300 |
1544.300 |
|
|
FIXED ASSETS |
|
|
|
35. |
Gross Block (Land, Bldg., Machinery & WIP) |
03.500 |
03.500 |
|
36. |
Depreciation to Date |
01.200 |
02.000 |
|
37. |
Net Block (36-36) |
02.300 |
01.500 |
|
|
OTHER NON CURRENT ASSETS |
-- |
-- |
|
38. |
Investments / Book Debts/ Advances/ Deposits |
-- |
-- |
|
|
which are not current assets |
-- |
-- |
|
|
investments in subsidiary Company/ affiliates: |
-- |
-- |
|
|
Shares/ insurance policies |
-- |
-- |
|
|
Advances to Suppliers of capital goods and |
-- |
-- |
|
|
sundry Security Deposit |
-- |
-- |
|
|
Deferred Receivables (maturity above one year) |
-- |
-- |
|
|
Advances to associate companies |
-- |
-- |
|
|
Debtors above 6 months |
-- |
-- |
|
39. |
Non Consumable Stores and Spares |
-- |
-- |
|
40. |
Other noncurrent assets including dues from directors-Room Deposits |
-- |
-- |
|
41. |
Total Other Non Current Assets |
-- |
-- |
|
42. |
Intangible assets (Patents, Goodwill, Preliminary expenses, Bad/ Doubtful
debts provided for etc. |
-- |
-- |
|
43. |
Total Assets (34+37+41+42) |
1207.600 |
1545.800 |
|
44. |
Tangible Net Worth (24-42) |
263.000 |
374.900 |
|
45. |
Net Working Capital [(17+24)-(37+41+42)] |
260.700 |
373.400 |
|
|
To Tally with (34-10) |
260.700 |
373.500 |
|
46. |
Current Ratio (34/10) - Total |
1.28 |
1.32 |
|
47. |
Total Outside Liabilities/ Tangible Net worth (18/44) |
3.59 |
3.12 |
|
48. |
Debt Quasi Equity Ratio |
3.59 |
3.12 |
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
Packing Materials (including Stores and other items used in the
process of manufacture) |
-- |
-- |
|
|
Imported / Indigenous |
-- |
-- |
|
|
Months Consumption |
-- |
-- |
|
|
other Consumable Spares |
-- |
-- |
|
|
Imported / Indigenous |
-- |
-- |
|
|
Months Consumption |
-- |
-- |
|
|
Finished Goods |
185.300 |
247.100 |
|
|
Months Cost of Sales ( Figures in Months) |
15.000 |
15.000 |
|
|
Receivables other than export and deferred receivables (including
bills purchased and discounted by bankers) |
-- |
-- |
|
|
Months domestic sales |
-- |
-- |
|
|
Export Receivables (including bills purchased and Discounted ) |
737.500 |
983.300 |
|
|
Months Export Sales (Figures in Months) |
59.000 |
59.000 |
|
|
Advances to supplier |
222.000 |
244.500 |
|
|
Spares, consumables |
-- |
-- |
|
|
Other Current assets including cash and |
60.500 |
69.400 |
|
|
bank balance and deferred receivables due within 1 year |
-- |
-- |
|
|
(Specify Major Items) |
-- |
-- |
|
|
Total Current Assets |
1205.300 |
1544.300 |
|
|
(To agree with item 34 ) |
1205.300 |
1544.300 |
|
|
CURRENT LIABILITIES |
|
|
|
|
(Other than Bank Borrowing for W.C.) |
|
|
|
|
Creditors for purchase of Raw materials, stores and consumable spares |
225.800 |
293.100 |
|
|
Months Purchases (Figures in Months) |
17.800 |
17.800 |
|
|
Advances from customers |
-- |
-- |
|
|
Statutory Liabilities |
18.800 |
27.700 |
|
|
Other Current Liabilities |
-- |
-- |
|
|
Total Current Liabilities |
244.600 |
320.800 |
|
|
(To agree with Sub-total B) |
244.600 |
320.800 |
ABOUT BASAR GROUP
The Basar Group is 50 years old and
customer-driven Indian company.
BASAR GROUP have commitment to highest quality standards,
deep understanding of customers' need and developing products that not only
fulfills user's current requirement but also future needs, efficient delivery
schedules, competitive prices, innovation, integrity and excellent after sales
service have been corner stone of our success.
BASAR GLOBAL
PRIVATE LIMITED
Basar Global Private Limited, is a newly established company
incorporated on 9th Feb 2012 with a vision to export quality
products such as garments, textiles, leather goods, steel, engineering goods
and commodities like rice, sugar etc. across the world. Mr. Umer Basar, a dynamic personality
possessing 13 years of rich experience in industrial export business. He has
travelled widely and has acquired excellent business acumen. Mrs. Rashida
Basar, mother of Mr. Umer Basar, has relevant experience into business
activities and is a Founder Promoter.
At present, the company exports to UAE, Saudi Arabia, Egypt, Cameroon,
Zimbabwe, Ghana, Sudan, Guatemala, Malaysia, U.K., Hong Kong. They propose to
broad- base the export area by exporting to New Zealand, Australia, Latin
America, U.K, Turkey, China etc.
PRODUCTS AND
PROCUREMENT:
Products dealt are rice, pulses,
spices, various engineering parts, machineries, cotton textiles, fabrics -
silk, polyester etc. The Company is procuring goods from the supplier with
25-30 payment terms. The goods are procured from domestic supplier and pack,
labelled, co- labelled and branded under “Basar
Brand” at suppliers destination as per buyer specification. This would lead
to reduce the logistic cost and lead time.
The average inventory holding level is at 45 to 50 days in case of time
consumed by the supplier for Packing, Branding and goods in transit or
commercial transit.
SALES:
The Company proposes to procure this merchandise product from domestic
market and will be exported to countries like New Zealand, Australia, Latin
America, U.K, Turkey, China etc. to existing customer base which are covered
under ECGC buyer wise policy. The products are shipped to buyer on DA 90-180
day’s credit period.
BOARD OF
DIRECTORS:
MR. UMER BASAR:
He is a Founder Promoter, and Managing Director of Basar Group of
Companies. Mr. Umer Basar, is Chairman & Managing Director of the company.
He belongs to the promoter group of Basar Group of Companies who are well
established into industrial export business of Stainless Steel Kitchenware and
other commodities since last four decades. The group company mainly includes
Basar Steel Private Limited., Basar Global Private Limited, Basar Foods Private
Limited and Basar Construction Private Limited. Mr. Umer Basar possesses 13
years of relevant experience into industrial export business, and is proficient
in English. An entrepreneur by the core, he is the chief visionary behind
“Basar Group of Companies”, who visualizes it to be one of the largest business
and continues to lead the organization towards this goal.
As co-founder-promoter of BASAR, Mr. Umer Basar has identified the tremendous
opportunity ahead in the field of Stainless steel, Food processing units in the
present times of globalization and convergence and worked hard to bring the
Company to a level where it has reached today and he looks forward to continue
to do so in years to come. With a blend of hands-on experience ranging from
Construction, Steel trading and with the proposed integration into
manufacturing of steel, Food production/processing, and, he is confident of
creating a niche to his group with the worldwide presence.
MRS. RASHIDA BASAR:
Mrs. Rashida Basar is a Founder Promoter, and Director of Basar Group.
She has 10 years of relevant experience into business activities. Her constant
support and guidance has helped consolidation of the organization’s achievements.
In addition to the business activities, Mrs. Rashida Basar is also engaged in
social activities under Basar Foundation.
MR. ABED SHAIKH:
He is associated with the group since 10 years. He is Indian
graduate with extensive experience in the trading of steel and other
merchandised commodity products on international level. His conceptual
strategies in the business are contributing significant value addition. He is a professional director.
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.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.