MIRA
INFORM REPORT
|
Report Date : |
15.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MBM TRADE-LINK PRIVATE LIMITED |
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Registered
Office : |
M-1, 100/104, Goradia House, Kazi Sayed Street, Mumbai – 400003, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.06.2009 |
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Com. Reg. No.: |
11-193584 |
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Capital
Investment/ Paid-up Capital: |
Rs.20.000 Millions |
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CIN No.: [Company Identification
No.] |
U51109MH2009PTC193584 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM36574G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Agree Produces, Pulses, Spices and Seeds |
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No. of
Employees: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 136000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate record.
Profitability of the company appears to be low. However trade relations are
reported to be fair. Business is active. Payments are reported to be fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
P4+ (Letter of credit and bank guarantee) |
|
Rating Explanation |
To Having minimal degree of safety regarding
timely payment of financial obligation it carry very high credit risk. |
|
Date |
27.08 2012 |
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. Neelima |
|
Designation : |
Accounts Head |
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Contact No.: |
91-22-23473031 |
LOCATIONS
|
Registered Office : |
M-1, 100/104, Goradia House, Kazi Sayed Street, Mumbai – 400003, |
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Tel. No.: |
91-22-23473031/32/33/34 |
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Fax No.: |
91-22-23403035 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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DIRECTORS
As on 10.08.2011
|
Name : |
Mr. Chandanmal Devichand Jain |
|
Designation : |
Director |
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Address : |
1601, |
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Date of Birth/Age : |
23.07.1957 |
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Date of Appointment : |
26.06.2009 |
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Din No.: |
01110695 |
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Name : |
Mr. Chirag Chandanmal Jain |
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Designation : |
Director |
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Address : |
B-1003, Vikas Palms, |
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Date of Birth/Age : |
23.02.1980 |
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Date of Appointment : |
26.06.2009 |
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Din No.: |
02492788 |
KEY EXECUTIVES
|
Name : |
Ms. Neelima |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Chandanmal Jain |
|
1860000 |
|
Manjudevi Chandanmal Jain |
|
80000 |
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Chiragkumar Chandanmal Jain |
|
30000 |
|
Mahipalkumar Jain |
|
30000 |
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|
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|
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Total |
|
2000000 |
Equity Share Break up (Percentage of Total Equity)
As on 10.08.2011
|
Category |
|
Percentage |
|
|
|
|
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Directors or relatives of directors |
|
100.00 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Agree Produces, Pulses, Spices and Seeds |
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Terms : |
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Selling : |
Cash/Credit |
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Purchasing : |
Cash/Credit |
GENERAL INFORMATION
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Suppliers : |
Vineet oils Private Limited |
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Customers : |
Retailers ·
Thuyha Commercial IM –Export Joint Stock Company |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K Kaveria and Company Chartered Accountant |
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Address : |
Office No.45, |
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Pan No.: |
AGSPK7594B |
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Memberships : |
IOPEPC - Indian Oil
Seeds and Produce Export Promotion Council ISEFA - Indian Spice
and Foodstuff Exporters Association APEDA - Agriculture
Produce Exports Development Authority Spices Board – SHEFEXIL - Shellac and |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
Millions |
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|
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
20.000 |
20.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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|
3] Reserves & Surplus |
|
13.979 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
(0.191) |
|
|
NETWORTH |
|
33.979 |
19.809 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
68.380 |
6.532 |
|
|
2] Unsecured Loans |
|
9.704 |
14.655 |
|
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TOTAL BORROWING |
|
78.084 |
21.187 |
|
|
DEFERRED TAX LIABILITIES |
|
0.034 |
(0.086) |
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|
|
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|
|
|
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TOTAL |
|
112.097 |
40.910 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.243 |
0.321 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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|
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Inventories |
|
29.676
|
22.985 |
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Sundry Debtors |
|
129.031
|
42.947 |
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Cash & Bank Balances |
|
7.002
|
8.738 |
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Other Current Assets |
|
0.000
|
0.000 |
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Loans & Advances |
|
36.178
|
17.434 |
|
Total
Current Assets |
|
201.887
|
92.104 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
81.415
|
51.376 |
|
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Other Current Liabilities |
|
1.401
|
0.328 |
|
|
Provisions |
|
7.378
|
0.025 |
|
Total
Current Liabilities |
|
90.194
|
51.729 |
|
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Net Current Assets |
|
111.693
|
40.375 |
|
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MISCELLANEOUS EXPENSES |
|
0.161 |
0.214 |
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|
|
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|
|
|
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TOTAL |
|
112.097 |
40.910 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
1033.946 |
|
|
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Other Income |
|
|
19.227 |
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|
|
TOTAL |
|
2811.700 |
1053.173 |
|
|
|
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|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
|
1021.741 |
|
|
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Administrative selling other expenses |
|
|
31.622 |
|
|
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TOTAL |
|
2790.170 |
1053.363 |
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
Including
Deprecation |
(0.190) |
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|
|
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||
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.087 |
||
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|
PROFIT/(LOSS)
BEFORE TAX |
|
21.530 |
(0.277) |
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|
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|
|
|
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Less |
TAX |
|
7.360 |
(0.086) |
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|
|
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|
|
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|
|
PROFIT/(LOSS)
AFTER TAX |
|
14.170 |
(0.191) |
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|
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EARNINGS IN
FOREIGN CURRENCY |
|
2715.300 |
1033.947 |
|
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|
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Earnings Per
Share (Rs.) |
|
7.09 |
- |
|
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Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
3880.000 |
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|
|
|
|
Expected Sales (2012-2013) : Rs.4000.000 Millions
The above information has been parted by Ms. Neelima
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
0.50 |
(0.02) |
|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
(0.03) |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
10.65 |
(0.30) |
|
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.64 |
(0.01) |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
4.95 |
3.69 |
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Current Ratio (Current Asset/Current Liability) |
|
|
2.24 |
1.78 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last two years |
Yes |
|
Profitability
for last two years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
Yes |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
SUNDRY CREDITORS
DETAILS:
(Rs. In Millions)
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
|
|
|
|
Due to Micro, Small and Medium Enterprises |
|
0.000 |
0.000 |
|
Due to Others |
|
81.415 |
51.376 |
|
Total |
|
81.415 |
51.376 |
CONTINGENT
LIABILITY NOT PROVIDED FOR IN RESPECT OF:
(Rs. In Millions )
|
Particular |
31.03.2011 |
31.03.2010 |
|
Bank Guarantee issued favouring The controller of Rationing |
3.870 |
3.870 |
FORM 8
|
Corporate
identity number of the company |
U51109MH2009PTC193584 |
|
Name of the
company |
MBM
TRADE-LINK PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
M-1, 100/104, Goradia House, Email: chandand23@yahoo.co.in
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
10201136 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) · Floating charge |
|
Particular of
charge holder |
State Bank Of Email: vlaxman@vsnl.com
|
|
Nature of
instrument creating charge |
a)
Supplemental Agreement of Hypothecation of Goods and Assets for increase in
the Overall Limit b)
Supplemental Agreement of Loan for increase in the overall limit, c)
Letter regarding the grant of Individual Limit within the Overall limit. d)
Memorandum of Deposit for creation of Further charge for Term Loan/Overall
Limit whether the initial charge is created by way of Mortgage by deposit of
Title Deeds e)
Memorandum. (Collectively
constitute a single charge). |
|
Date of
instrument Creating the charge |
02.11.2011 |
|
Amount secured by
the charge |
Rs.100.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest : 1.75% above Base Rate of the bank subject to
change from time to time as per Bank's Rule. Term
of Payment: On Demand Margin 15% against Raw Materials, Stock-In-Process, Finished
goods, Book Debts/receivables Extent and operation
of the charge Hypothecation
by way of First charge of all Goods, Book debts and Other Movable Assets
security for repayment and discharge by the Borrower to the Bank on demand of
the principal and all other moneys at any time payable by the Borrower to the
Bank. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of all the present and future goods, book debts & all other movable
assets of the borrower including documents of title to the goods Extention
charge on Equitable Mortgage of
immovable properties bearing Flat No.1601, 16th Floor, Girnar Tower
Co-Op Housing Limited CS No.1/397, Near Telephone Exchange M-L,
Garodia House, 100/104, Kazi Sayed Street, Mumbai - 400003. |
|
Date of last modification prior to the present modification |
22.03.2011 |
|
Particulars of the present modification |
The
charge shall stand increased from
Rs.70.000 Millions to Rs.100.000 Millions in favour of the Bank. |
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.53.87 |
|
|
1 |
Rs.83.59 |
|
Euro |
1 |
Rs.72.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
26 |
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.