MIRA
INFORM REPORT
|
Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
AASSEM MULTITRADE PRIVATE LIMITED |
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Registered
Office : |
204, 2nd Floor, Marine Chambers, Opposite S.N.D.T., Mahila
College, New Marine Lines, Mumbai – 400020, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
31.05.2011 |
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Com. Reg. No.: |
11-218095 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 million |
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CIN No.: [Company Identification
No.] |
U52399MH2011PTC218095 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Fabric. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 700 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company having a moderate track record. In its first year of business operation the company has achieved
sizeable turnover. However, the profit margin seems to be minimal. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow. The company can be considered for business dealings with great
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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Anita |
|
Designation : |
Accountant |
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Contact No.: |
91-22-65040987 |
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Date : |
23.07.2013 |
LOCATIONS
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Registered Office/ Factory : |
204, 2nd Floor, Marine Chambers, Opposite S.N.D.T., Mahila
College, New Marine Lines, Mumbai – 400020, Maharashtra, India |
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Tel. No. : |
91-22-65040987 |
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Fax No. : |
91-22-22003912 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Baikunthnath Pritamji Chaturvedi |
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Designation : |
Director |
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Address : |
105, Churchgate Chambers, 5, New Marine Lines, 1st Floor, Churchgate Mumbai – 400020, Maharashtra, India |
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Date of Birth/Age : |
01.07.1950 |
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Date of Appointment : |
04.10.2012 |
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DIN No. : |
01423812 |
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Other Directorship
:
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Name : |
Mr. Basheer D Ahmed |
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Designation : |
Director |
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Address : |
8, Husalli Factory Area, Husalli, Koppal – 583234, Karnataka, India |
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Date of Birth/Age : |
04.07.1948 |
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Date of Appointment : |
04.10.2012 |
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DIN No. : |
02569145 |
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Other Directorship
:
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KEY EXECUTIVES
|
Name : |
Ms. Anita |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Abhishek Sushil Morarka |
|
5000 |
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Vandana Sushil Morarka |
|
5000 |
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Total |
|
10000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Fabric. |
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Products : |
Cothes |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
· HDFC Bank Limited, Mumbai, Maharashtra, India Axis Bank Limited |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vishnu Kumar Agarwal Chartered Accountant |
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Address : |
145, Dady Seth Agiary Lane, 8, Shiv Niwas, Mumbai – 400002,
Maharashtra, India |
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Tel. No. : |
91-11-22082442 / 40227571 |
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E-Mail : |
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PAN No. : |
ABJPA2377E |
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Associates : |
· Hemkurta Ind. Investment Company Limited Aquastel Water Purification Systems Private Limited Bell Tools Limited Realstone Exports Private Limited Candy Filters (Delhi) Limited Dura Alloys Cutters Limited Hemkuta Sugar and Allied Ind. Limited ParkTools Limited Pranami Trading Private Limited Candy Filters (Bombay) Limited Rigveda Properties Limited City Base Multitrade Private Limited Candy Holding Limited Tungbhadra Pulp and Board Mills Limited Utkantha Trading Limited Dura Barrel Packaging Limited Toshiba Consultancy Private Limited Muniradad Trading Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
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|
0.100 |
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(b) Reserves & Surplus |
|
|
0.066 |
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(c) Money
received against share warrants |
|
|
0.000 |
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(2) Share Application money pending allotment |
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|
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
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|
0.166 |
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(3)
Non-Current Liabilities |
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|
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(a) long-term borrowings |
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|
0.040 |
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(b) Deferred tax liabilities (Net) |
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|
0.000 |
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(c) Other long term liabilities |
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|
0.000 |
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(d) long-term provisions |
|
|
0.000 |
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Total Non-current Liabilities (3) |
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|
0.040 |
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(4) Current Liabilities |
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(a) Short term borrowings |
|
|
0.000 |
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(b) Trade payables |
|
|
542.810 |
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(c) Other current
liabilities |
|
|
0.020 |
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(d) Short-term provisions |
|
|
0.030 |
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Total Current Liabilities (4) |
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|
542.860 |
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TOTAL |
|
|
543.066 |
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II.
ASSETS |
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|
|
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(1) Non-current assets |
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(a) Fixed Assets |
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|
|
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(i) Tangible assets |
|
|
0.000 |
|
(ii) Intangible Assets |
|
|
0.000 |
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(iii) Capital work-in-progress |
|
|
0.000 |
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(iv)
Intangible assets under development |
|
|
0.000 |
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(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
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(d) Long-term Loan and Advances |
|
|
0.000 |
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(e) Other Non-current assets |
|
|
0.000 |
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Total Non-Current Assets |
|
|
0.000 |
|
|
|
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|
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(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
43.946 |
|
(c) Trade receivables |
|
|
351.891 |
|
(d) Cash and cash
equivalents |
|
|
0.429 |
|
(e) Short-term loans and
advances |
|
|
146.800 |
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(f) Other current assets |
|
|
0.000 |
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Total Current Assets |
|
|
543.066 |
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|
|
|
|
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TOTAL |
|
|
543.066 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
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SALES |
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Income |
|
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Other Income |
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TOTAL |
|
|
612.425 |
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Less |
EXPENSES |
|
|
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TOTAL |
|
|
612.329 |
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PROFIT BEFORE
TAX |
|
|
0.096 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.030 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
0.066 |
|
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|
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|
|
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Earnings Per
Share (Rs.) |
|
|
6.62 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
0.01 |
|
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.02 |
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.58 |
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|
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|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.24 |
|
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|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.00 |
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
one year |
Yes |
|
12] |
Profitability for last
one year |
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) |
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 |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
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 |
UNSECURED LOANS
|
Particulars |
|
31.03.2012 (Rs.
in Millions) |
|
Long term
borrowings |
|
|
|
From Directors |
|
0.040 |
|
Total |
|
0.040
|
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.59.69 |
|
|
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.