MIRA
INFORM REPORT
|
Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
EMMKAE TRADING CORPORATION PRIVATE LIMITED [w.e.f.08.07.2010] |
|
|
|
|
Formerly Known
As : |
AMANSI ARTS PRIVATE LIMITED |
|
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|
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Registered
Office : |
B/5, Anant Anand
Apartment, Malabar Hills Road, Mulund Colony, Mumbai – 400082, Maharashtra |
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
04.04.2008 |
|
|
|
|
Com. Reg. No.: |
11-197263 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH2008PTC197263 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Mouth Freshener. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 388000 |
|
|
|
|
Status : |
Moderate |
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|
|
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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 a moderate track record.
There appears drastic fall in sales and incurred loss during 2012. However, networth of the company seems to be strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for normal business dealings with some 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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : (CRISIL) A4 |
|
Rating Explanation |
Having minimal degree of safety regarding
timely payment of financial obligation it carry very high credit risk. |
|
Date |
August 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 [GENERAL DETAILS]
|
Name : |
Mr. Kiran |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-8980038804 |
|
Date : |
14.06.2013 |
LOCATIONS
|
Registered Office : |
B/5, Anant Anand
Apartment, Malabar Hills Road, Mulund Colony, Mumbai – 400082, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-8980038804 [Mr. Kiran] |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 832/1, G.I.D.C. Road No 8, Sachin, Surat - 394230, Gujarat,
India |
|
Tel. No.: |
91-261-2398518 |
|
Fax No.: |
91-261-2398519 |
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|
|
|
Branch Office 1 : |
2615, 5/A and 5/B, Road N. 8, GIDC Sachin, Surat, Gujarat, India |
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|
|
|
Branch Office 2 : |
A-505, Smita Towers, Opposite ALJDA Garden, Vishramnagar
Road, Gurukul, Ahmedabad – 380052, Gujarat, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Nimeshgiri Dineshgiri Goswami |
|
Designation : |
Director |
|
Address : |
D/203, Jaldarshan Flats, Near Kozway Singanpor Gam, Surat – 395006,
Gujarat |
|
Date of Birth/Age : |
09.03.1977 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
06393812 |
|
|
|
|
Name : |
Mr. Rushil Bhai Sevantilal Sanghavi |
|
Designation : |
Director |
|
Address : |
204/A 2nd Floor, Kapadia Wadi, Kohinoor Road, Shyamal Building, Varachha
Road, Surat – 395006, Gujarat |
|
Date of Birth/Age : |
26.09.1979 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
06393819 |
KEY EXECUTIVES
|
Name : |
Mr. Kiran |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Maheshbhai Mangukiya |
|
180000 |
|
Dhanjibhai Mangukiya |
|
180000 |
|
Labhuben Mangukiya |
|
211500 |
|
Alpaben Mangukiya |
|
58500 |
|
Aman Mangukiya |
|
58500 |
|
Purnata Mangukiya |
|
65000 |
|
Mansi Mangukiya |
|
58500 |
|
Pravinbhai Mangukiya |
|
180000 |
|
Alpaben Mangukiya |
|
949500 |
|
Vishu Mangukiya |
|
58500 |
|
|
|
|
|
Total |
|
2000000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Mouth Freshener. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Dubai Hong Kong |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Others |
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No. of Employees : |
Not Divulged |
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Bankers : |
State Bank of
India, Surat, Gujarat, India Bank of Baroda |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. Dak and Company Chartered Accountants |
|
Address : |
408-409, Empire State Building, Ring Road, Surat – 395002,
Gujarat, India |
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Tel. No.: |
91-261-2350566 |
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Income-tax
PAN of auditor or auditor's firm : |
AAXFS1780J |
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Sister Concern : |
Amansi Arts |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000
Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
20.000 |
20.000 |
|
(b) Reserves & Surplus |
|
76.984 |
77.424 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
63.792 |
59.893 |
|
(b) Deferred tax liabilities (Net) |
|
0.076 |
0.045 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
|
|
|
|
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(4)
Current liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
115.089 |
|
(b)
Trade payables |
|
193.847 |
656.091 |
|
(c)
Other current liabilities |
|
0.022 |
0.031 |
|
(d) Short-term
provisions |
|
11.797 |
17.298 |
|
TOTAL |
|
366.518 |
945.871 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible assets |
|
1.121 |
1.413 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
44.413 |
11.406 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
78.485 |
93.156 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1.069 |
8.041 |
|
(c) Trade receivables |
|
236.610 |
760.540 |
|
(d) Cash and cash equivalents |
|
1.288 |
22.866 |
|
(e) Short-term loans and advances |
|
2.998 |
47.917 |
|
(f) Other current assets |
|
0.534 |
0.532 |
|
TOTAL |
|
366.518 |
945.871 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
20.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
59.757 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
79.757 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
158.290 |
|
|
2] Unsecured Loans |
|
|
58.072 |
|
|
TOTAL BORROWING |
|
|
216.362 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
296.139 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.761 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
150.097 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
8.041 |
|
|
Sundry Debtors |
|
|
1121.908 |
|
|
Cash & Bank Balances |
|
|
23.562 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
82.028 |
|
Total
Current Assets |
|
|
1235.539 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1072.927 |
|
|
Other Current Liabilities |
|
|
0.006 |
|
|
Provisions |
|
|
18.872 |
|
Total
Current Liabilities |
|
|
1091.805 |
|
|
Net Current Assets |
|
|
143.734 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.547 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
296.139 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
180.925 |
587.259 |
1457.093 |
|
|
|
Other Income |
11.888 |
13.822 |
16.072 |
|
|
|
TOTAL |
192.813 |
601.081 |
1473.165 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
192.659 |
580.594 |
1452.690 |
|
|
|
|
|
|
|
|
|
PROFIT/
[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.154 |
20.487 |
[Including
Depreciation] |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.382 |
0.485 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
BEFORE TAX |
(0.228) |
20.002 |
20.475 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.213 |
2.335 |
2.224 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
AFTER TAX |
(0.441) |
17.667 |
18.251 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB Basis |
172.662 |
NA |
NA |
|
|
|
|
|
|
|
|
|
Earnings/ [Loss]
Per Share (Rs.) |
(0.22) |
8.83 |
9.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.23)
|
2.94 |
1.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.13)
|
3.41 |
1.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.09)
|
2.38 |
1.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.00)
|
0.21 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.66
|
1.80 |
2.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.07 |
1.13 |
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
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 |
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 |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS |
|
|
|
From Directors |
57.472 |
58.072 |
|
From Others |
5.916 |
1.000 |
|
Total |
63.388 |
59.072 |
PERFORMANCE DURING THE YEAR:
During the year, the
turnover of the company has decreased to Rs.180.925 Millions as against
Rs.587.259 Millions of previous year. The company has suffered loss of Rs.0.441
Million during the year. The year 2011-12 marked deterioration in the
fundamentals of both the global and the Indian economies. The wholesale as well
as retail trade industry has faced various challenges due to economic meltdown,
high levels of inflation and extremely volatile fluctuations in the market
conditions which had a consequential impact on the efficiency of the company.
The Management is taking initiatives so as to respond to the evolving market
dynamics by adopting intensive marketing and sustainable business strategy and
bring out the company with commendable performance.
Proper strategic planning
is being made by the management to analyze and evolve the future course of
action which will led the company way to progress
FIXED ASSETS:
Plant and
Machinery
Mobile
Vehicles
Computer and
Accessories
Furniture and
Fixtures
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. 57.74 |
|
|
1 |
Rs. 90.64 |
|
Euro |
1 |
Rs. 77.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.