|
Report Date : |
11.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ENIGMA COMMUNICATIONS |
|
|
|
|
Registered
Office : |
No. 43, Ground Floor, , Nutan Laxmi, Road No. 9, Co-operative Society,
Juhu, Vile Parle Scheme, Mumbai – 400049, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.04.2006 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.116 Millions |
|
|
|
|
IEC No.: |
0312065728 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AEPPB3701AFT001 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Distributor of Coca Cola Products, Schweppes Tonic Water, Soda Water, Coke
Diet, Minute Maid Juices. |
|
|
|
|
No. of Employees
: |
15 (Approximately) [In Office] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (22) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small proprietory concern in its field. Its scale of
activities is limited. It has a moderate track record. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The concern can be considered for business dealings on a safe and
secured 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.
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 : |
Mr. Girish Bajaj |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9821115189 |
LOCATIONS
|
Registered Office : |
No. 43, Ground Floor, , Nutan Laxmi, Road No. 9, Co-operative Society,
Juhu, Vile Parle Scheme, Mumbai – 400049, Maharashtra |
|
Tel. No.: |
91-22-65778690/ 26705716 |
|
Mobile No.: |
91-9821115189 (Mr. Girish Bajaj) |
|
Fax No.: |
91-22-23522748/ 26206126 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Girish Bajaj |
|
Designation : |
Proprietor |
|
Address : |
Gitanjali 43, Road No. 9, Nutan Laxmi Society, Juhu Scheme, Vile Parle
(West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
35 Years |
|
Qualification : |
B.Com |
|
PAN No.: |
AEPPB3701A |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Coca Cola Products, Schweppes Tonic Water, Soda Water,
Coke Diet, Minute Maid Juices. |
|
|
|
|
Agencies Held : |
Hindustan Coca Cola Beverages Private Limited |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (60 days) |
|
|
|
|
Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
|
Supplier : |
J.W. Marriott |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
Wholesalers and Retailers ·
Anant Foodland ·
ASmita Supermarkets Private Limited ·
Banana Bar ·
Biscuitwala and sons ·
Chandan Station ·
Chhedar Dry Fruits ·
Chunilal Prabhudas and Company Bomabay Private
Limited ·
Consume Supermarket ·
Ganesh Store ·
Gringo Restaurant ·
Haiko Supermarket ·
Hyatt Regency ·
Hyber City Big Thane ·
Hyber City Retail ·
Hyber City Vadapa DC ·
Mazda Associates ·
Mirzaghalib ·
Mocha Restaurant ·
New Rakhangi General Bandra ·
Olive Bar and Kitchen ·
Premsons Bazaar ·
Rakhangi General Stores ·
Ramas Sweets and Snacks ·
Sante Gourmand Private Limited ·
Shanti Supermarket ·
Spencer Retail Limited ·
S. R. Enterprises ·
Urvashi Stationery ·
Vicky Foods ·
Vijay Stores ·
Wellness Forever ·
Wellness Forever Lifestyle Chemist and Super ·
Wellness Forever Lifestyle ·
Wellness Forever Lifestyle Chemist ·
Wellness Forever Life Stule ·
Wellness Forever ·
Willingdon Sports Club |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
15 (Approximately) [In Office] |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· ICICI Bank Limited, Juhu Branch, Mumbai, Maharashtra, India Tel No. 91-22-26204597 · Kotak Mahindra Bank Tel No. 91-22-26713126/ 26714047 · State Bank of India · Jankalyan Bank · HSBC Bank · RBS Bank |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Amit Jain and Company Chartered Accountants |
|
|
|
|
Sister Concern : |
Pegasus Imports |
CAPITAL STRUCTURE
As on: 31.03.2012
(Rs in Millions)
|
Particular |
Amount |
Particular |
Amount |
|
To Drawing (Including Insurance) |
0.282 |
By Balance B/F |
1.179 |
|
To Mediclaim Premium |
0.007 |
By PPF Interest |
0.015 |
|
To Balance c/d |
1.116 |
By Net Profit |
0.211 |
|
Total |
1.405 |
Total |
1.405 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor Capital |
|
1.116 |
1.179 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1.116 |
1.179 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.600 |
0.429 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.600 |
0.429 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1.716 |
1.608 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.696 |
0.821 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.071 |
0.030 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.153 |
0.097 |
|
|
Sundry Debtors |
|
1.358 |
1.287 |
|
|
Cash & Bank Balances |
|
0.275 |
0.148 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.000 |
0.150 |
|
Total
Current Assets |
|
1.786 |
1.682 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.702 |
0.152 |
|
|
Other Current Liabilities |
|
0.116 |
0.130 |
|
|
Provisions |
|
0.019 |
0.643 |
|
Total
Current Liabilities |
|
0.837 |
0.925 |
|
|
Net Current Assets |
|
0.949 |
0.757 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1.716 |
1.608 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
3.008 |
2.947 |
|
|
|
Other Income |
|
0.000 |
0.004 |
|
|
|
TOTAL |
|
3.008 |
2.951 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
1.423 |
1.665 |
|
|
|
Audit Fees |
|
0.000 |
0.007 |
|
|
|
Bank Charges |
|
0.026 |
0.049 |
|
|
|
Consultancy Expenses |
|
0.000 |
0.003 |
|
|
|
Interest on Car Loan |
|
0.000 |
0.013 |
|
|
|
Professional Fees |
|
0.000 |
0.006 |
|
|
|
Bank Interest |
|
0.063 |
0.000 |
|
|
|
Repairs and Maintenance |
|
0.000 |
0.021 |
|
|
|
Rent Paid |
|
0.000 |
0.127 |
|
|
|
Conveyances Expenses |
|
0.005 |
0.012 |
|
|
|
Sales Promotion Expenses |
|
0.000 |
0.050 |
|
|
|
Travelling Expenses |
|
0.000 |
0.018 |
|
|
|
Electricity Charges |
|
0.027 |
0.000 |
|
|
|
Foreign Tour Expenses |
|
0.031 |
0.000 |
|
|
|
Loan Processing Charges |
|
0.015 |
0.000 |
|
|
|
Miscellaneous Expenses |
|
0.008 |
0.031 |
|
|
|
Vehicles Expenses |
|
0.000 |
0.026 |
|
|
|
Vehicles Insurance |
|
0.000 |
0.012 |
|
|
|
Motor Car Expenses |
|
0.178 |
0.000 |
|
|
|
Motor Car Insurance Expenses |
|
0.010 |
0.000 |
|
|
|
Motor Car Loan Interest |
|
0.037 |
0.000 |
|
|
|
Office Expenses |
|
0.022 |
0.013 |
|
|
|
Salary |
|
0.764 |
0.455 |
|
|
|
Staff Welfare Expenses |
|
0.036 |
0.004 |
|
|
|
Telephone Expenses |
|
0.028 |
0.058 |
|
|
|
TOTAL |
|
2.673 |
2.570 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.335 |
0.381 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.124 |
0.112 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.211 |
0.269 |
|
Expected Sales ( 2012-2013 ) : Rs. 2.200 Millions
The above information has been parted by Mr. Girish Bajaj (Proprietor)
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
7.02 |
9.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
7.02 |
9.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
8.50 |
10.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.19 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.54 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.13 |
1.82 |
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 |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
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 |
No |
TRADE REFERENCES
· Hindustan Coca Cola Beverages Private Limited, Mirador Hotel, Chakala, Andheri (East), Mumbai - 400069, Maharashtra, India (Nitin Kothari)
· Ganesh Stores, Gurdwara Road, Opposite Khar Station (West), Mumbai, Maharashtra, India
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 53.57 |
|
|
1 |
Rs. 84.25 |
|
Euro |
1 |
Rs. 71.79 |
INFORMATION DETAILS
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
22 |
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.