MIRA
INFORM REPORT
|
Report Date : |
07.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MIURA TRADING AND FINVEST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
201 – Creative Estate 12 N M Joshi Marg, Lower Parel (East), Mumbai -
400018 Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.12.1994 |
|
|
|
|
Com. Reg. No.: |
11-084172 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1994PTC084172 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM21560A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM9750A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the National/ International distribution of
Petrochemicals, Pharmaceuticals, Intermediates, Catalysts, Rare Earths and
Metals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. There
appears slight dip in the profitability and sales turnover during 2012. However, general financial position seems to be good. There appears no
external borrowing. Trade relations are reported to be fair. Business is
active. Payments are reported to be usually correct and as per commitment. The company can be considered for business at usual trade terms and
condition. |
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
LOCATIONS
|
Registered Office : |
201 – Creative Estate 12 N M Joshi Marg, Lower Parel ( East), Mumbai
-400018 Maharashtra, India |
|
Tel. No.: |
91-22-23088624 / 23083820 / 23020031 |
|
Fax No.: |
91-22-23087449 / 23050032 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Kolkata Office : |
Unit 603, 5th Floor, Shilpangan Toy Park, Block LB1, Sector
3, Salt Lake City, Kolkata – 700098, West Bengal, India |
|
Tel. No.: |
91-33-23351818 / 23351819 |
|
Fax No.: |
91-33-23358181 |
|
E-Mail : |
DIRECTORS
As on 05.09.2012
|
Name : |
Mr. Vivek Dipak Himatsingka |
|
Designation : |
Director |
|
Address : |
41 – Somerset House, Opposite Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
25.01.1974 |
|
Date of Appointment : |
05.09.1995 |
|
DIN No.: |
00050717 |
|
|
|
|
Name : |
Mr. Gaurav Dipak Himatsingka |
|
Designation : |
Director |
|
Address : |
41 – Somerset House, Opposite Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
19.09.1970 |
|
Date of Appointment : |
06.06.2001 |
|
DIN No.: |
00050776 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Gaurav Himatsingka |
|
42000 |
|
Gaurav Himatsingka (HUF) |
|
3500 |
|
Payal Himatsingka |
|
4500 |
|
Vivek Himatsingka |
|
43500 |
|
Amisha Himatsingka |
|
6000 |
|
Vivek Himatsingka (HUF) |
|
500 |
|
Total |
|
100000 |
As on 05.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the National/ International distribution of
Petrochemicals, Pharmaceuticals, Intermediates, Catalysts, Rare Earths and
Metals |
|
|
|
|
Products : |
Commission Consultancy Chemicals
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jawahar Mantri and Associates Chartered Accountants |
|
Address : |
217 – Great Eastern Galleria, sector 4 Nerul, Navi Mumbai - 400706,
Maharashtra, India |
|
Pan No.: |
AADFJ0157G |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
36.274 |
30.227 |
23.104 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
37.274 |
31.227 |
24.104 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.600 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.600 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
37.274 |
31.227 |
24.704 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.740 |
0.836 |
0.838 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
38.076 |
20.850 |
21.109 |
|
|
DEFERREX TAX ASSETS |
0.341 |
0.292 |
0.043 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.231
|
1.570 |
4.354 |
|
|
Cash & Bank Balances |
2.342
|
2.319 |
1.699 |
|
|
Other Current Assets |
4.345
|
8.270 |
0.000 |
|
|
Loans & Advances |
0.037
|
7.556 |
8.065 |
|
Total
Current Assets |
6.955
|
19.715 |
14.118 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.942
|
1.316 |
1.612 |
|
|
Other Current Liabilities |
5.996
|
6.200 |
2.051 |
|
|
Provisions |
2.900
|
2.950 |
7.741 |
|
Total
Current Liabilities |
9.838
|
10.466 |
11.404 |
|
|
Net Current Assets |
(2.883)
|
9.249 |
2.714 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
37.274 |
31.227 |
24.704 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
58.851 |
65.730 |
37.242 |
|
|
|
Other Income |
0.580 |
4.433 |
2.300 |
|
|
|
TOTAL (A) |
59.431 |
70.163 |
39.542 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-Trade |
33.558 |
|
|
|
|
|
Employees benefit Expenses |
3.324 |
2.217 |
36.031 |
|
|
|
Other Expenses |
13.250 |
12.363 |
|
|
|
|
TOTAL (B) |
50.132 |
60.806 |
36.031 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.299 |
9.357 |
3.511 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.020 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.279 |
9.357 |
3.511 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.410 |
0.250 |
0.269 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
8.869 |
9.107 |
3.242 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.822 |
1.985 |
0.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6.047 |
7.122 |
2.642 |
|
|
|
|
|
|
|
|
|
|
Earlier year
expenses / taxes |
0.000 |
0.000 |
(0.152) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
30.226 |
23.104 |
20.614 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
36.273 |
30.226 |
23.104 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
40.767 |
55.907 |
35.056 |
|
|
|
Commission Earnings |
9.866 |
2.794 |
2.031 |
|
|
TOTAL EARNINGS |
50.633 |
58.701 |
37.087 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
33.558 |
46.226 |
29.724 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
60.47 |
71.22 |
24.91 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
10.17
|
10.15 |
6.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.07
|
13.86 |
8.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
102.00
|
44.31 |
21.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.29 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.71
|
1.88 |
1.24 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
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 |
WORKING RESULTS
The Company has earned a Net Profit of Rs. 6.047 Millions After adding the carry forward Profits of previous years amounting to Rs. 30.226 Millions. Net Profit tarried over lo the Balance Sheet amounts Rs. 36.273 Millions. The Directors are confident of not only maintaining the existing levels of profitability but further expanding business operations having established the Company’s credentials with its customers and suppliers.
FIXED ASSETS
·
Office Equipments
·
Furniture and Fixture
·
Computer
·
Motor Car
·
Plant and Machinery
AS PER WEBSITE
PROFILE
- Subject is
part of the US$80 million HIMATSINGKA group of companies having diverse
business interests including Engineering Services, Technology Transfer,
Project Consulting Services, International and Domestic Marketing and
Distribution of Chemicals, Plastics, Steel, Rare Earths and Metals, among
others.
- Subject was
set up in 1994 and is head quartered in India's commercial capital city
Mumbai and is well geared for furthering common goals and objectives of
its principals, affiliates and customers in India, Asia, Middle East,
Europe and Americas well into the 21st century.
- Subject is
proud to present its corporate organization and looks forward to a close,
long term and mutually beneficial business relationship.
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.56.87 |
|
|
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.74.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.