MIRA
INFORM REPORT
|
Report Date : |
10.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
INABATA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
319, Time Tower, Sector 28, Main MG Road Near IFFCO Chowk, Gurgaon –
122002, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
23.06.2008 |
|
|
|
|
Com. Reg. No.: |
55-179913 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.200 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17291DL2008FTC179913 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELI07034G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI9109G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer and Exporter of Synthetic Resins, Machinery, Electronic
Material and Chemicals |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 477520 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears accumulated loss recorded by the company during 2013. However, trade relations are reported as fair. Business is active.
Payments are slow but correct. 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very
High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office : |
319, Time Tower, Sector 28, Main MG Road Near IFFCO Chowk, Gurgaon –
122002, Haryana, India |
|
Tel. No.: |
91-124-4372101 |
|
Fax No.: |
91-124-4372104 |
|
E-Mail : |
|
|
|
|
|
Warehouse : |
5 Kanal 13 Marla Tabru Road, |
|
Tel. No.: |
91-124-4372101/02 |
|
Fax No.: |
91-124-4372104 |
|
|
|
|
Branch : |
4th Floor, |
|
Tel No.: |
91-11-30410900 |
DIRECTORS
AS ON 30.06.2011
|
Name : |
Mr. Noriomi Yasue |
|
Designation : |
Director |
|
Address : |
263 River Valley Road, # 06-27, |
|
Date of Birth/Age : |
13.03.1957 |
|
Date of Appointment : |
23.06.2008 |
|
DIN No. : |
02128735 |
|
Name : |
Mr. Ichiro Ozaki |
|
Designation : |
Director |
|
Address : |
9 Jln Rumbia, # 08-14, |
|
Date of Birth/Age : |
28.02.1953 |
|
Date of Appointment : |
01.02.2010 |
|
DIN No. : |
02911227 |
|
Name : |
Mr. Hidehiro Kodama |
|
Designation : |
Director |
|
Address : |
Room No. 4B, MSI Tower 2, 45 Soi 31, Sukhumvit Raod, Klongton Nua,
Wattana Bangkok, 101 110, Thailand |
|
Date of Birth/Age : |
14.12.1970 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No. : |
02937635 |
|
Name : |
Mr. Kenichi Oba |
|
Designation : |
Director |
|
Address : |
4-15-7-201 Higashi Oizumi, Nerimaku, |
|
Date of Birth/Age : |
27.01.1965 |
|
Date of Appointment : |
01.02.2010 |
|
DIN No. : |
02942724 |
|
Name : |
Mr. Yasushi Akinaga |
|
Designation : |
Additional Director |
|
Address : |
Higashi Shinjuku, First B1.906, 2-2-12, Okubo, Shinjuku-Ku, |
|
Date of Birth/Age : |
22.11.1962 |
|
Date of Appointment : |
11.03.2011 |
|
DIN No. : |
03386904 |
|
Name : |
Mr. Motoo Ohashi |
|
Designation : |
Director |
|
Address : |
Plaza Residences Unit 251 Jakarta Pusar Indonesia |
|
Date of Birth/Age : |
18.12.1957 |
|
Date of Appointment : |
16.01.2012 |
|
DIN No. : |
05123172 |
|
Name : |
Mr. Naoya Kitamura |
|
Designation : |
Managing Director |
|
Address : |
B-6 Greenwood City, Sector 45, Gurgaon – 122003, Haryana India |
|
Date of Birth/Age : |
10.09.1970 |
|
Date of Appointment : |
19.04.2012 |
|
DIN No. : |
05257699 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Inabata |
|
151999 |
|
Noriomi Yasue |
|
01 |
|
Total |
|
152000 |
As on 30.06.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
99.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Exporter of Synthetic Resins, Machinery, Electronic
Material and Chemicals |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
Mizuho Corporate Bank, |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mayur Batra and Company Chartered Accountant |
|
Address : |
7, |
|
Tel. No.: |
91-11-43616263 / 23311809 |
|
Fax No.: |
91-11-43616222 |
|
E-Mail : |
|
|
Website : |
|
|
PAN : |
AEWPB7677N |
|
|
|
|
Associates : |
Inabata Thai Company Limited |
|
|
|
|
Holding Company : |
Inabata Tel No. : (65) 62200796 (12 Lines) Fax No. : (65) 62227972 |
|
|
|
|
Ultimate Holding Company : |
Inabata and Company Limited, Japan |
CAPITAL STRUCTURE
AS ON 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1400000 |
Equity Shares |
Rs.100/- each |
Rs.140.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.12.2011 (15
Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
140.000 |
15.200 |
|
(b) Reserves & Surplus |
|
(20.620) |
(7.548) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
44.800 |
|
Total
Shareholders’ Funds (1) + (2) |
|
119.380 |
52.452 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.238 |
0.550 |
|
Total Non-current Liabilities (3) |
|
0.238 |
0.550 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
80.000 |
41.000 |
|
(b) Trade payables |
|
84.913 |
28.938 |
|
(c) Other current
liabilities |
|
4.286 |
3.529 |
|
(d) Short-term provisions |
|
0.013 |
0.000 |
|
Total Current Liabilities (4) |
|
169.212 |
73.467 |
|
|
|
|
|
|
TOTAL |
|
288.830 |
126.469 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
10.044 |
2.901 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
2.755 |
|
(d) Long-term Loan and Advances |
|
5.618 |
3.053 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
15.662 |
8.709 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
114.710 |
54.954 |
|
(c) Trade receivables |
|
128.108 |
51.785 |
|
(d) Cash and cash
equivalents |
|
13.829 |
3.132 |
|
(e) Short-term loans and
advances |
|
16.462 |
7.889 |
|
(f) Other current assets |
|
0.059 |
0.000 |
|
Total Current Assets |
|
273.168 |
117.760 |
|
|
|
|
|
|
TOTAL |
|
288.830 |
126.469 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
15.200 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.778 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
17.978 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
3.000 |
|
|
TOTAL BORROWING |
|
|
3.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
20.978 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3.199 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.365 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
15.767
|
|
|
Sundry Debtors |
|
|
10.847
|
|
|
Cash & Bank Balances |
|
|
1.937
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
8.601
|
|
Total
Current Assets |
|
|
37.152
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
13.116
|
|
|
Other Current Liabilities |
|
|
1.212
|
|
|
Provisions |
|
|
5.410
|
|
Total
Current Liabilities |
|
|
19.738
|
|
|
Net Current Assets |
|
|
17.414
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
20.978 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2011 (15 Months) |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Service Income |
|
210.344 |
66.447 |
|
|
|
Other Income |
|
0.019 |
0.007 |
|
|
|
|
|
3.191 |
0.017 |
|
|
|
TOTAL (A) |
|
213.554 |
66.471 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
158.101 |
31.024 |
|
|
|
Personnel Costs |
|
33.692 |
11.261 |
|
|
|
Administrative Expenses |
|
32.972 |
15.955 |
|
|
|
TOTAL (B) |
NA |
224.765 |
(Including
Financial Charges) |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(11.211) |
|
|
|
|
|
|
|
|
|
|
Less |
BANK AND FINANCE
CHARGES (D) |
|
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(11.211) |
8.231 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.870 |
0.218 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(10.317) |
(12.081) |
8.013 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.755 |
(1.755) |
1.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(13.072) |
(10.326) |
6.329 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(7.548) |
2.778 |
(3.551) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(20.620) |
(7.548) |
2.778 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2011 (15 Months) |
31.12.2010 |
|
PAT / Total Income |
(%) |
NA
|
(4.83)
|
9.52
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(5.74)
|
12.06
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.57)
|
(9.76)
|
19.86
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09)
|
(0.23)
|
0.45
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.67
|
0.78
|
1.26
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
1.60
|
1.88
|
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
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 |
NOTE
The Registered Office of the company has been shifted from 408,Time
Tower, Sector-28, IFFCO Chowk, MG Road, Gurgaon – 122002, Haryana, India to the
present address w.e.f . 27.08.2012
FIXED ASSETS
·
Office Equipments
·
Computer and Software
·
Leasehold Improvements
·
Furniture and Fixtures
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 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.61.18 |
|
|
1 |
Rs.100.01 |
|
Euro |
1 |
Rs.83.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.