|
Report Date : |
23.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ZEN INTRATRADE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-2, Leela Apartments, Opposite GTC Industries Limited, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.11.2002 |
|
|
|
|
Com. Reg. No.: |
11-138017 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH2002PTC138017 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMZ00952A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer and Exporter of Chemicals. |
|
|
|
|
No. of Employees
: |
12 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 35000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profit
and loss statement for the year 2012 is not available. As per available
financials it seems that there appears continuous dip in the profitability of
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
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A4 (Short Term Bank Facilities) |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
25.01.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
B (Long Term Bank Facilities) |
|
Rating Explanation |
High risk of default. |
|
Date |
25.01.2013 |
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. Manjari |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-67426742 |
|
Date : |
18.04.2013 |
LOCATIONS
|
Registered Office : |
G-2, Leela Apartments, Opposite GTC Industries Limited, |
|
Tel. No.: |
91-22-67426742 / 26288860 |
|
Fax No.: |
91-22-67426743 / 26288719 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Kishor Vijay Sanghavi |
|
Designation : |
Managing Director |
|
Address : |
501/502, Purnaurmi, |
|
Date of Birth/Age : |
22.04.1961 |
|
Date of Appointment : |
27.11.2002 |
|
DIN No.: |
00234464 |
|
|
|
|
Name : |
Mrs. Dipti Kishor Sanghavi |
|
Designation : |
Director |
|
Address : |
501/502, |
|
Date of Birth/Age : |
23.09.1961 |
|
Date of Appointment : |
27.11.2002 |
|
DIN No.: |
00234594 |
KEY EXECUTIVES
|
Name : |
Ms. Manjari |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Kishor Vijay Sanghavi |
175000 |
|
Dipti Kishor Sanghavi |
75000 |
|
TOTAL
|
250000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Exporter of Chemicals. |
|
|
|
|
Exports : |
|
|
Products : |
Chemicals |
|
Countries : |
·
Malaysia |
|
|
|
|
Imports : |
|
|
Products : |
Chemicals |
|
Countries : |
·
Japan ·
Germany ·
Taiwan ·
Malaysia ·
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit |
|
|
|
|
Purchasing : |
L/C, Cash, Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
12 (Approximately) |
|
|
|
|
Bankers : |
·
Corporation Bank, Commercial Banking Branch, Gold
Mahur Building, 18, Princess Street, Mumbai-400002, Maharashtra, India Tel No.:- 91-824-2426416 ·
ICICI Bank Limited ·
HDFC Bank Limited ·
Vijaya Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. Sanghani and Company Chartered Accountant |
|
Address : |
B-4, Parekh Apartment, Sarojini Road, Vile Parle, (West),
Mumbai-400053, Maharashtra, India. |
|
Tel. No.: |
91-22-26103065 / 65223065 / 32633065 |
|
Telefax No.: |
91-22-26103066 |
|
E-Mail : |
|
|
PAN No.: |
AAGPS0419P |
|
|
|
|
Sister Concern : |
Address: Marine Lines, Mumbai Line of Business: Clearings and forwarding
agent. |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.287 |
5.619 |
(1.275) |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.787 |
8.119 |
1.225 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
9.848 |
11.779 |
21.010 |
|
|
TOTAL BORROWING |
9.848 |
11.779 |
21.010 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18.635 |
19.898 |
22.235 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.466 |
0.579 |
0.593 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.613 |
0.587 |
0.810 |
|
|
DEFERREX TAX ASSETS |
0.036 |
0.031 |
0.031 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
19.514
|
20.763 |
10.732 |
|
|
Sundry Debtors |
36.591
|
33.114 |
57.463 |
|
|
Cash & Bank Balances |
3.723
|
4.215 |
4.601 |
|
|
Other Current Assets |
1.120
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.957
|
1.199 |
1.793 |
|
Total
Current Assets |
63.905
|
59.291 |
74.589 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
45.807
|
39.957 |
50.549 |
|
|
Other Current Liabilities |
0.578
|
0.633 |
0.805 |
|
|
Provisions |
0.000
|
0.000 |
2.434 |
|
Total
Current Liabilities |
46.385
|
40.590 |
53.788 |
|
|
Net Current Assets |
17.520
|
18.701 |
20.801 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18.635 |
19.898 |
22.235 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
220.482 |
224.114 |
|
|
|
Other Income |
|
0.288 |
7.781 |
|
|
|
TOTAL |
|
220.770 |
216.333 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
222.199 |
204.208 |
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
0.142 |
0.166 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
8.459 |
12.125 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
TAX |
|
1.565 |
1.995 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
6.894 |
10.130 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(1.275) |
(11.521) |
|
|
|
|
|
|
|
|
|
|
Excess Provision
of IT |
|
0.000 |
0.116 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
5.619 |
(1.275) |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
|
NA |
124.195 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
27.58 |
14.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
3.12 |
4.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.84 |
5.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
14.12 |
16.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
1.04 |
9.90 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.12
|
1.45 |
17.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.46 |
1.39 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Loans and
Advances from Related Parties |
|
|
|
Loan From Directors |
|
|
|
-
Kishor V Sanghavi* |
0.072 |
2.353 |
|
-
Kishor V Sanghavi (HUF Loan) * |
9.776 |
9.426 |
|
|
|
|
|
TOTAL |
9.848 |
11.779 |
|
*No repayment
terms have been determined |
||
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
|
|
|
|
Due to Micro, Small and Medium Enterprises |
0.000 |
0.000 |
0.000 |
|
Other Payables |
45.807
|
39.957 |
50.549 |
|
|
|
|
|
|
TOTAL |
45.807
|
39.957 |
50.549 |
FIXED ASSETS
·
Air Conditioner
·
Computers System
·
Electrical Fittings
·
Furniture and Fixtures
·
Motor Car
·
Office Equipments
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. 54.16 |
|
|
1 |
Rs. 82.45 |
|
Euro |
1 |
Rs. 70.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.