|
Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUPER AUTO |
|
|
|
|
Registered
Office : |
Bhimpur, P O Tarakeswar, District Hooghly – 712410, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Year of
Establishment : |
1998 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.319 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAAS4839G |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Trader and Dealer of Hero Motor Cycles, Hero Pump Set, Hero Generator,
Bajaj Mobile Generator Set. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having a satisfactory
track record. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
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) |
|
|
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 PARTED BY
|
Name : |
S. K. Pal |
|
Designation : |
Auditor |
|
Contact No.: |
91-9830276230 |
|
Date : |
14.02.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Bhimpur, P O Tarakeswar, District Hooghly – 712410, West Bengal, India
|
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9434026200 (Mr. Sintu Das) |
|
Fax No.: |
Not Available |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Sintu Das |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mrs. Mamta Das |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Trader and Dealer of Hero Motor Cycles, Hero Pump Set, Hero Generator,
Bajaj Mobile Generator Set. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Advances |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· Bank of India Tarakeshwar Branch, Hooghly, West Bengal, India (Current Account) · Punjab National Bank (CC Account and OD Account) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. K. Pal and Associates Chartered Accountant |
|
Address : |
9, A. K. Dutta Sarani (east), P. O. Chatra, Hooghly – 712204, West
Bengal, India |
|
Mobile No.: |
91-9830276230 |
|
Email : |
CAPITAL STRUCTURE
PARTNER’S CAPITAL ACCOUNT
(RS.
IN MILLIONS)
|
Particulars |
AS ON 31.03.2012 |
|
Mrs. Mamata Das |
|
|
Opening Balance |
1.035 |
|
Add: Share of Profit 49% |
0.061 |
|
Interest on Capital |
0.124 |
|
Remuneration |
0.248 |
|
|
1.468 |
|
Less: Drawings |
0.150 |
|
Total |
1.318 |
|
|
|
|
Mr. Sintu Das |
|
|
Opening Balance |
1.309 |
|
Add: Share of Profit 49% |
0.064 |
|
Interest on Capital |
0.157 |
|
Remuneration |
0.248 |
|
|
1.778 |
|
Less: Drawings |
0.150 |
|
Total |
1.628 |
|
|
|
|
SUB TOTAL |
2.946 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note: Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.946 |
2.343 |
1.873 |
|
|
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 |
2.946 |
2.343 |
1.873 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.946 |
2.343 |
1.873 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.636 |
0.732 |
0.057 |
|
|
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 |
8.857
|
9.310 |
8.013 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.964
|
0.330 |
0.391 |
|
|
Other Current Assets |
0.450
|
0.050 |
0.058 |
|
|
Loans & Advances |
0.423
|
0.060 |
0.000 |
|
Total
Current Assets |
10.694 |
9.750 |
8.462 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.252
|
0.317 |
0.544 |
|
|
Other Current Liabilities |
13.077
|
7.788 |
0.009 |
|
|
Provisions |
0.055
|
0.034 |
6.093 |
|
Total
Current Liabilities |
13.384
|
8.139 |
6.646 |
|
|
Net Current Assets |
(2.690)
|
1.611 |
1.816 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.946 |
2.343 |
1.873 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
43.139 |
35.800 |
28.588 |
|
|
|
Other Income |
1.404 |
1.002 |
0.633 |
|
|
|
TOTAL |
44.543 |
36.802 |
29.221 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
40.858 |
34.142 |
27.562 |
|
|
|
Wages |
0.497 |
0.000 |
0.000 |
|
|
|
Salary |
0.082 |
0.072 |
0.060 |
|
|
|
Electric and Generator Charges |
0.128 |
0.061 |
0.053 |
|
|
|
Travelling and Conveyance |
0.040 |
0.021 |
0.019 |
|
|
|
Insurance |
0.062 |
0.054 |
0.053 |
|
|
|
Postage and Telephone (Including Machinery) |
0.023 |
0.018 |
0.017 |
|
|
|
Accounting Charges |
0.048 |
0.030 |
0.024 |
|
|
|
Advertisement |
0.035 |
0.000 |
0.000 |
|
|
|
Vat |
0.049 |
0.000 |
0.000 |
|
|
|
Customer Care Service |
0.369 |
0.000 |
0.000 |
|
|
|
Interest on Capital |
0.281 |
0.225 |
0.187 |
|
|
|
Remuneration |
0.496 |
0.378 |
0.266 |
|
|
|
Depreciation |
0.000 |
0.000 |
0.010 |
|
|
|
Other Expenses |
1.394 |
1.699 |
0.937 |
|
|
|
TOTAL |
44.362 |
36.700 |
29.188 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.181 |
0.102 |
0.033 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.056 |
0.034 |
0.013 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.125 |
0.068 |
0.020 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.28 |
0.18 |
0.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.42 |
0.28 |
0.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.11 |
0.97 |
0.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.04 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80 |
1.20 |
1.27 |
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 |
No |
|
8] |
No. of employees |
No |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT
OF FINANCIAL REQUIREMENT
OPERATING STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
2012-13 |
2013-14 |
2014-15 |
|
|
|
|
|
|
Gross Sales |
|
|
|
|
Domestic Sales |
78.096 |
142.760 |
169.653 |
|
Other Service |
2.250 |
2.560 |
2.535 |
|
Export Sales |
-- |
-- |
-- |
|
Total |
80.346 |
145.320 |
172.188 |
|
|
|
|
|
|
Less: Excise Duty |
-- |
-- |
-- |
|
|
|
|
|
|
Net Sales |
80.346 |
145.320 |
172.188 |
|
|
|
|
|
|
%age rise/ fall in net sales as compared to previous year |
80.40 |
80.87 |
18.49 |
|
|
|
|
|
|
Cost of Sales |
|
|
|
|
Raw Materials (Including Stores and Other Items used in the process of
Manufacturer) |
|
|
|
|
Imported |
-- |
-- |
-- |
|
Indigenous |
82.271 |
134.175 |
156.991 |
|
|
|
|
|
|
Other Spares/ Carriage |
|
|
|
|
Imported |
-- |
-- |
-- |
|
Indigenous |
-- |
-- |
-- |
|
|
|
|
|
|
Power and Fuel |
-- |
-- |
-- |
|
Direct Labour (Factory, wages and salaries) |
-- |
-- |
-- |
|
Repairs and Maintenance |
-- |
-- |
-- |
|
Other Manufacturing Expenses |
-- |
-- |
-- |
|
Depreciation |
0.601 |
0.444 |
0.401 |
|
|
|
|
|
|
Sub – Total |
82.872 |
134.619 |
157.392 |
|
|
|
|
|
|
Add: Opening Stocks in Process |
-- |
-- |
-- |
|
|
|
|
|
|
Total |
82.872 |
134.619 |
157.392 |
|
|
|
|
|
|
Deduct: Closing Stocks in Process |
-- |
-- |
-- |
|
|
|
|
|
|
Cost of
Production |
82.872 |
134.619 |
157.392 |
|
|
|
|
|
|
Add: Opening Stock of Finished Goods |
8.857 |
17.460 |
19.370 |
|
|
|
|
|
|
Sub Total |
91.729 |
152.079 |
176.762 |
|
|
|
|
|
|
Deduct: Closing Stock of Finished Goods |
17.460 |
19.370 |
20.521 |
|
|
|
|
|
|
Sub Total (Total Cost of
Sales) |
74.269 |
132.709 |
156.241 |
|
|
|
|
|
|
General, Administrative and selling Expenses |
3.653 |
8.799 |
11.562 |
|
|
|
|
|
|
Sub- Total |
77.922 |
141.508 |
167.803 |
|
|
|
|
|
|
Operating Profit before Interests |
2.424 |
3.812 |
4.385 |
|
|
|
|
|
|
Interests |
1.868 |
2.626 |
2.537 |
|
Provision for Taxation |
0.166 |
0.315 |
0.539 |
|
|
|
|
|
|
Operating Profit After Interests |
0.390 |
0.871 |
1.309 |
|
|
|
|
|
|
Add Remuneration and Interest on Capital |
1.409 |
2.536 |
3.741 |
|
Retained Profit |
1.799 |
3.407 |
5.050 |
|
|
|
|
|
|
Add: Other
Non-operating Income |
|
|
|
|
Sale of Fixed Assets |
-- |
-- |
-- |
|
Others |
-- |
-- |
-- |
|
Sub Total
(Income) |
-- |
-- |
-- |
|
|
|
|
|
|
Deduct: Other
Non-operating Expenses |
|
|
|
|
Miscellaneous Expenses |
-- |
-- |
-- |
|
W.O. of Preliminary and Pre-operative Expenses |
-- |
-- |
-- |
|
Sub Total
(Expenses) |
-- |
-- |
-- |
|
|
|
|
|
|
Net of Other
non-operating income/ Expenses |
-- |
-- |
-- |
|
|
|
|
|
|
Profit before tax |
1.799 |
3.407 |
5.050 |
|
|
|
|
|
|
Net Profit/ loss |
1.799 |
3.407 |
5.050 |
|
|
|
|
|
|
Add: Interests on term Loan |
0.592 |
0.486 |
0.362 |
|
Dividend Paid/ Drawings |
0.300 |
0.500 |
0.700 |
|
Retained Profit |
1.499 |
2.907 |
4.350 |
|
Retained Profit/ Net Profit (%age) |
100% |
100% |
100% |
|
Depreciation and Others |
0.601 |
0.444 |
0.401 |
|
|
|
|
|
|
Total |
2.692 |
3.837 |
5.113 |
|
|
|
|
|
|
Term Loan Interests |
0.592 |
0.486 |
0.362 |
|
Term Lon Instalment |
1.256 |
1.256 |
1.256 |
|
Gross DSCR (Average DSCR) |
1.46 |
2.20 |
3.16 |
|
Net DSCR |
-- |
-- |
-- |
|
|
|
|
|
|
Average DCR |
2.27 |
||
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars |
2012-13 |
2013-14 |
2014-15 |
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
|
Short term borrowings banks (Including bills purchased, discounted and
excess borrowing placed on repayment basis) |
|
|
|
|
- From C/C Account |
15.000 |
15.000 |
15.000 |
|
- From SLC A/c |
-- |
-- |
-- |
|
- FNCR |
-- |
-- |
-- |
|
|
|
|
|
|
Sub Total (A) |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
Short Term borrowing- others |
-- |
-- |
-- |
|
Sundry Creditors |
0.613 |
0.515 |
0.420 |
|
Advance/ Progress Payments from Customers/ deposits from Dealers,
Selling agents |
-- |
-- |
-- |
|
Provision for taxation |
0.166 |
0.315 |
0.539 |
|
Other Statutory Liabilities (Due within one year) |
|
|
|
|
Deposits / Installments of Term Loans DPGs/ Debentures/ ECB/ ADR/ GDR
(Due Within One Year) |
|
|
|
|
Other Current Liabilities |
0.084 |
0.090 |
0.098 |
|
|
|
|
|
|
SUB TOTAL (B) |
0.863 |
0.920 |
1.057 |
|
|
|
|
|
|
TOTAL CURRENT
LIABILITIES |
15.863 |
15.920 |
16.057 |
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
|
|
Preference Shares (Redeemable after one year) |
-- |
-- |
-- |
|
Term Loan (Excluding installment payable within one year) |
3.831 |
3.061 |
2.167 |
|
Unsecured Loan From Promoters |
2.000 |
2.000 |
-- |
|
Bridge Loan |
-- |
-- |
-- |
|
Other Terms Liabilities- Unsecured Loan (Interest Free) |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL TERM
LIABILITIES |
5.831 |
0.061 |
2.167 |
|
|
|
|
|
|
TOTAL OUTSIDE
LIABILITIES |
21.694 |
20.981 |
18.224 |
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
|
|
Share Capital |
6.443 |
9.350 |
13.609 |
|
Share Application Money |
-- |
-- |
-- |
|
State Capital Subidy |
-- |
-- |
-- |
|
Share Premium |
-- |
-- |
-- |
|
Surplus (+) Deficit (-) in Profit and Loss A/c |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL NET WORTH |
6.443 |
9.350 |
13.609 |
|
|
|
|
|
|
TOTAL
LIABILITIES |
28.137 |
30.331 |
31.833 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
Cash and bank balances |
0.271 |
0.278 |
0.311 |
|
|
|
|
|
|
Investment |
|
|
|
|
- Receivables |
|
|
|
|
- Export Receivables |
|
|
|
|
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
|
|
Raw Materials |
|
|
|
|
-Trading Stock |
-- |
-- |
-- |
|
-Indigenous |
-- |
-- |
-- |
|
|
|
|
|
|
Stock in Process |
-- |
-- |
-- |
|
Finished Goods |
17.460 |
19.370 |
20.521 |
|
Other Consumable Spares |
-- |
-- |
-- |
|
Advance Payment of Taxes |
4.393 |
4.985 |
5.504 |
|
Other Current Assets |
0.150 |
0.280 |
0.480 |
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
22.274 |
24.913 |
26.816 |
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
|
|
Gross Block |
6.014 |
5.412 |
4.968 |
|
|
|
|
|
|
Depreciation to date |
0.601 |
0.444 |
0.401 |
|
|
|
|
|
|
Net Block |
5.413 |
4.968 |
4.567 |
|
|
|
|
|
|
OTHER NON
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
Investment/ Book Debts/ Advances/ Deposits Goods and Contractors |
0.450 |
0.450 |
0.450 |
|
Investment/ Book Debts Advance Deposits, which are not current Assets |
-- |
-- |
-- |
|
Long term investments (In Subsidiaries) |
-- |
-- |
-- |
|
Other non Current assets |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL OTHER NON
CURRENT ASSETS |
0.450 |
0.450 |
0.450 |
|
|
|
|
|
|
Intangible Assets |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL ASSETS |
28.137 |
30.331 |
31.833 |
|
|
|
|
|
|
Tangible Net worth |
6.443 |
9.350 |
13.609 |
|
|
|
|
|
|
Net Working Capital |
6.411 |
8.993 |
10.759 |
|
|
|
|
|
|
Current Ratio |
1.40 |
1.56 |
1.67 |
|
|
|
|
|
|
Total Outside Liabilities/ Tangible Net
worth |
3.37 |
2.24 |
1.34 |
|
|
|
|
|
|
Debt Equity Ratio |
0.59 |
0.33 |
0.16 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF MAXIMUM
PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS.
IN MILLIONS)
|
PARTICULARS |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
|
|
|
|
|
|
|
|
|
Total Current Assets |
22.274 |
24.913 |
26.415 |
|
|
|
|
|
|
Other Current Liabilities (other than bank borrowings |
0.863 |
0.920 |
1.057 |
|
|
|
|
|
|
Working Capital Gap (WCG) (1-2) |
21.411 |
23.993 |
25.358 |
|
|
|
|
|
|
Min. stipulated net working capital: (25% of WCG excluding export receivables) |
5.569 |
6.228 |
6.604 |
|
|
|
|
|
|
Actual / Projected net working capital |
6.411 |
8.993 |
10.358 |
|
|
|
|
|
|
Item-3 minus Item-4 |
15.843 |
17.765 |
18.754 |
|
|
|
|
|
|
Item-3 minus Item-5 |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
Max. permissible bank finance |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
Excess borrowings representing shortfall in NWC (4 - 5) |
-- |
-- |
-- |
|
|
|
|
|
|
Turnover Method |
|
|
|
|
Gross Sale |
80.346 |
145.320 |
172.188 |
|
25% of Gross Sale |
20.087 |
36.330 |
43.047 |
|
5% of Gross Sale |
4.017 |
7.266 |
8.609 |
|
Actual/ Projected W. Capital (C. Assets- Liabilities) |
6.411 |
8.993 |
10.358 |
|
Item 2 Minus Item 3 |
16.069 |
29.064 |
34.438 |
|
Item Minus Item 4 |
13.676 |
27.337 |
32.689 |
|
Permissible Bank Finance Item 5 or 6 Which ever lower |
13.676 |
27.337 |
32.689 |
------------------------------------------------------------------------------------------------------------------------------
CASH
FLOW STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
2012-13 |
2013-14 |
2014-15 |
|
|
|
|
|
|
Net Profit |
0.388 |
0.870 |
1.317 |
|
Add Remuneration |
1.056 |
2.003 |
2.859 |
|
Interest on Capital |
0.354 |
0.533 |
0.882 |
|
Add: Capital Introduced |
-- |
-- |
-- |
|
Unsecured Loan |
4.000 |
-- |
-- |
|
Interest on Term Loan |
0.593 |
0.486 |
0.363 |
|
Term Loan |
-- |
-- |
-- |
|
Cash Credit |
6.472 |
-- |
-- |
|
Income Tax |
-- |
0.150 |
0.284 |
|
Depreciation |
0.602 |
0.448 |
0.400 |
|
Provision for Taxation |
0.166 |
0.316 |
0.539 |
|
Creditor |
0.613 |
0.515 |
0.420 |
|
Creditors for Expenses |
0.084 |
0.090 |
0.098 |
|
Adjustment |
0.423 |
04.393 |
25.000 |
|
Opening Balance |
0.964 |
0.271 |
0.278 |
|
|
|
|
|
|
Total |
15.715 |
10.075 |
32.442 |
|
|
|
|
|
|
Less: |
|
|
|
|
Drawings |
0.300 |
0.500 |
0.700 |
|
Increase of Assets |
0.378 |
-- |
-- |
|
Advance Tax Paid |
0.150 |
0.284 |
0.480 |
|
Income Tax Paid |
0.056 |
0.166 |
0.316 |
|
Increase in Stock |
8.602 |
1.911 |
1.151 |
|
Security Deposit |
-- |
-- |
-- |
|
Payment of Term Loan |
1.256 |
1.256 |
1.256 |
|
Payment to Creditor |
0.252 |
0.612 |
0.515 |
|
Payment of Unsecured Loan |
- |
-- |
-- |
|
Payment to Creditor for Expenses |
0.055 |
0.084 |
0.090 |
|
Advance against Purchase |
4.394 |
4.984 |
27.623 |
|
|
|
|
|
|
Cash and Bank
Balance |
0.271 |
0.278 |
0.311 |
|
|
|
|
|
|
Total |
15.715 |
10.075 |
32.442 |
Partner Capital invested in Business
|
Remuneration |
1.056 |
2.003 |
2.859 |
|
Interests on Capital |
0.353 |
0.533 |
0.882 |
|
Less Drawings |
0.300 |
0.500 |
0.700 |
|
|
|
|
|
|
Total |
1.110 |
2.036 |
3.041 |
Calculation of DSCR
|
Net Profit |
0.388 |
0.870 |
1.317 |
|
Remuneration etc |
1.110 |
2.036 |
3.041 |
|
Depreciation |
0.601 |
0.447 |
0.401 |
|
Interest of Term Loan |
0.593 |
0.486 |
0.363 |
|
Less: Provision for Taxation |
0.166 |
0.316 |
0.539 |
|
Total |
2.526 |
3.524 |
4.584 |
|
|
|
|
|
|
Interests Term Loan |
0.593 |
0.486 |
0363 |
|
Repayment of Loan |
1.256 |
1.256 |
1.256 |
|
|
|
|
|
|
DSCR |
1.37 |
2.02 |
2.83 |
|
|
|
|
|
|
Average DSCR |
2.07 |
||
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
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.