1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SAMIR AGENCIES |
Principal Name 1 |
Mr. Hemant Kanakia |
|
Status |
Undetermined |
Principal Name 2 |
Mr. Samir Kanakia |
|
|
|
Registration # |
-- |
|
Street Address |
8
Khimji Meghji House, 1st Floor, 11/15, Issaji Street,
Vadgadi, Mumbai – 400 003, Maharashtra, India |
||
|
Established Date |
1993 |
SIC Code |
-- |
|
Telephone# |
91-22-2342 4063 / 2342 4064 / 2346 2331 |
Business Style 1 |
Importers |
|
Fax # |
91-22-2341 0788 |
Business Style 2 |
Traders |
|
Homepage |
-- |
Product Name 1 |
Chemicals |
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 80,631,000 /- |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
Union
Bank of India |
|
Public Limited Corp. |
No |
Business Period |
20 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
C |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates/Subsidiaries |
-- |
Samir Enterprises |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2007 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
64,024,000 |
Current Liabilities |
31,935,000 |
|
Inventories |
55,936,000 |
Long-term Liabilities |
8,204,000 |
|
Fixed Assets |
810,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
40,139,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
0 |
|
|
|
Net Worth |
80,631,000 |
|
Total Assets |
120,770,000 |
Total Liab. & Equity |
120,770,000 |
|
Total Assets (Previous Year) |
59,444,000 |
|
|
|
P/L Statement as of |
31.03.2007 |
(Unit: Indian Rs.) |
|
|
Sales |
208,792,000 |
Net Profit |
15,094,000 |
|
Sales(Previous yr) |
169,041,000 |
Net Profit(Prev.yr) |
3,682,000 |
MIRA
INFORM REPORT
|
Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMIR AGENCIES |
|
|
|
|
Registered Office : |
8 Khimji Meghji House, 1st Floor, 11/15,
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1993 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 80.631 Millions (As on 31.03.2007) |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS18875D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABFS2988J |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners |
|
|
|
|
Line of Business : |
Importers and Traders of Chemicals. |
|
|
|
|
No. of Employees : |
7 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Undetermined |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
|
|
|
|
Comments : |
Mr. Hemant, a partner has denied to disclose any detail of the subject
to us. As per our old database, we found that the subject is an established
partnership concern which is engaged in the business of chemicals. No other detail could be made available. The subject 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.
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 DECLINED BY
|
Name : |
Mr. Hemant Kanakia |
|
Designation : |
Partner |
|
Date : |
12.02.2013 |
LOCATIONS
|
Registered Office : |
8 Khimji Meghji House, 1st Floor, 11/15,
|
|
Tel. No.: |
91-22-2342 4063 / 2342 4064 / 2346 2331 |
|
Fax No.: |
91-22-2341 0788 |
|
E-Mail : |
|
|
Area : |
550 Sq.fts |
|
Location : |
Owned |
|
|
|
|
Corporate Office
: |
104, 1st Floor, Runwal and Omkar Esquare, Opposite Sion Chunnabhatti Signal, Eastern Express Highway, Sion (East), Mumbai-400022, Maharashtra, India |
|
Tel. No.: |
91-22-66001111 |
PARTNERS
|
Name : |
Mr. Hemant Kanakia |
|
Designation : |
Partner |
|
Qualification : |
B.Com., LL.B. |
|
|
|
|
Name : |
Mr. Samir Kanakia |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mrs. Bina Kanakia |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mrs. Chhaya Kanakia |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Importers and Traders of Chemicals. |
GENERAL INFORMATION
|
Customers : |
Traders and actual users |
|
|
|
|
No. of Employees : |
7 (Approximately) |
|
|
|
|
Bankers : |
Ř Union Bank of India, 105/109 Kazi Sayed Street, Khand Bazar, Mumbai – 400 003, Maharashtra, India Ř Bank
of Ř ICICI Bank Ř HDFC Bank Limited |
|
|
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
C. K. Prusty and Associates Chartered Accountants |
|
|
|
|
Memberships : |
Ř Chemicals and Alkali Merchants Association Ř Indian Resin Manufacturers’ Association |
|
|
|
|
Associates/Subsidiaries : (As on 31.03.2007) |
Ř Samir Enterprises -- Acts as importers and traders of Chemicals
Ř Rajnikant Shantilal
Ř Samir Dye Chem |
CAPITAL STRUCTURE
As on 31.03.2007
|
Capital Investment : |
|
|
Owned : |
Rs. 80.631 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 80.631 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
PARTNERS FUNDS |
|
|
|
|
|
1] Partners Capital |
80.631 |
46.852 |
39.379 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
80.631 |
46.852 |
39.379 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
8.204 |
4.856 |
11.255 |
|
|
TOTAL BORROWING |
8.204 |
4.856 |
11.255 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
88.835 |
51.708 |
50.634 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.810 |
0.911 |
1.051 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
55.936
|
28.458
|
26.281
|
|
|
Sundry Debtors |
49.654
|
29.895
|
34.872
|
|
|
Cash & Bank Balances |
14.230
|
0.109
|
0.133
|
|
|
Other Current Assets |
0.140
|
0.071
|
1.627
|
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
119.960
|
58.533 |
62.913
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
31.935
|
0.631
|
6.950
|
|
|
Provisions |
|
7.105
|
6.380
|
|
Total
Current Liabilities |
31.935
|
7.736 |
13.330
|
|
|
Net Current Assets |
88.025
|
50.797 |
49.583
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
88.835 |
51.708 |
50.634 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
208.792 |
169.041 |
164.041 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
208.792 |
169.041 |
164.041 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
15.094 |
3.682 |
9.419 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
15.094 |
3.682 |
9.419 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Payment to Auditors |
0.016 |
|
|
|
|
Insurance Expenses |
0.270 |
165.359 |
180.902 |
|
|
Depreciation & Amortization |
0.131 |
|
|
|
|
Other Expenditure |
193.281 |
|
|
|
Total Expenditure |
193.698 |
165.359 |
180.902 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
7.23
|
2.18 |
5.74
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.23
|
2.18 |
5.74
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.50
|
6.19 |
14.73
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.08 |
0.24
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.10
|
0.10 |
0.29
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.76
|
7.57 |
4.72
|
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
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 |
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 |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
No |
The concerns’ 90% of the products are sold to Actual Users and the remaining 10% to the Traders.
It is in trade terms with:-
Ř Engineering and
Chemical Corporation,
Ř K. Rasiklal and
Company,
Ř Chemet,
Ř BASF (
Ř BASF,
Ř
Ř
Ř
Ř
Delamine, The
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. 54.29 |
|
|
1 |
Rs. 84.09 |
|
Euro |
1 |
Rs. 72.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
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.