|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
GURUKRUPA PLASTICS |
|
|
|
|
Registered Office
: |
Unit No. 15, Sonal Industrial Estate, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
1995 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.11.216 Millions (As on 31.03.2012) |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADFG5179 |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Trader and Importer of Polymers |
|
|
|
|
No. of Employees
: |
31 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 45000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having a moderate track
record. As per the audited financials as on 2012 provided by Mr. Shailesh Shah
a partner the profit margin of the company appears to be low. The above named partner has also confirmed that there is a dip in the
sales turnover during 2012-13. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. The company can be considered for 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.
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 : |
Mr. Shailesh Shah |
|
Designation : |
Partner |
|
Contact No.: |
91-9821111673 |
|
Date : |
18.06.2013 |
LOCATIONS
|
Registered Office : |
Unit No. 15, Sonal Industrial Estate, |
|
Tel. No.: |
91-22-66951140 / 66951150 / 66951160 |
|
Mobile No.: |
91-9821111673 (Mr. Shailesh Shah) |
|
Fax No.: |
91-22-66951150 |
|
E-Mail : |
|
|
Area : |
1500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Warehouse : |
Unit No. K – 1, K 16, Sonal Industrial Estate, Link Road, Malad
(West), Mumbai – 400 064, Maharashtra, India Also Located at ·
Vasai ·
·
Silvassa |
PARTNERS
|
Name : |
Mr. Shailesh Shah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
45 Years |
|
Qualification : |
B.Sc. |
|
|
|
|
Name : |
Mr. Jayesh Shah |
|
Designation : |
Partner |
|
Date of Birth/Age : |
47 Years |
|
Qualification : |
B.Com |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Polymers |
|
|
|
|
Imports : |
|
|
Products : |
Polymers |
|
Countries : |
·
·
·
Iran ·
Europe ·
Saudi Arabia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers: |
·
Bhadresh Enterprises ·
Bhakti Cleford Private Limited ·
Bombay Auto Garage and Welding Works ·
Concept Distribution Company ·
D.P Consultancy ·
Hazel Mercantile Limited ·
IOC Polymer Terminal ·
Jai Ambe Logistics ·
J.M. Textile Limited – Hemang ·
Kajal Transports ·
Kuloday Technopack Private Limited |
|||||||||
|
|
|
|||||||||
|
Customers : |
End Users ·
Abhishree Packaging Private Limited ·
Akshar Extrusions Private Limited ·
Alcare Container Company ·
Amardeep Industries ·
Anand Trade Link Private Limited ·
Aristo Exports ·
Arya Industries |
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
31 (Approximately) |
|||||||||
|
|
|
|||||||||
|
Bankers : |
·
Kotak Mahindra Bank, Malad Link Road Branch,
Mumbai, Maharashtra, India ·
Bank of India |
|||||||||
|
|
|
|||||||||
|
Facilities : |
Rs. 50.000 Millions
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
PV Paresh and Company Chartered Accountants |
|
Address : |
17/B, Ajanta Shopping Centre, 1st Floor, Daftary Road,
Malad (East), Mumbai – 400097, Maharashtra, India |
|
Tel. No.: |
91-22-28823309/28890113 |
|
Mobile No.: |
91-9820045739 |
|
E-Mail : |
|
|
|
|
|
Sister Concern : |
Surja Plastics Address: Unit No. K-1,
Sonal Industrial Estate, Link Road, Malad(W), Mumbai 400064, Maharashtra,
India Line of Business
: Trader and Importer of Polymers. |
CAPITAL STRUCTURE
As on 31.03.2012
|
Capital Investment : |
|
|
Owned : |
Rs.11.216 Millions |
|
Borrowed : |
|
|
Total : |
Rs.11.216 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
442.300 |
469.900 |
450.000 |
Expected Sales (2013-2014): Rs.460.000 Millions
The above information has been parted by Mr. Shailesh Shah
(Partner)
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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
11.216 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
11.216 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.716 |
|
|
2] Unsecured Loans |
|
|
12.564 |
|
|
TOTAL BORROWING |
|
|
13.280 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
24.496 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3.553 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
17.616
|
|
|
Sundry Debtors |
|
|
59.168
|
|
|
Cash & Bank Balances |
|
|
0.047
|
|
|
Other Current Assets |
|
|
4.482
|
|
|
Loans & Advances |
|
|
17.699
|
|
Total
Current Assets |
|
|
99.012
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
76.499
|
|
|
Other Current Liabilities |
|
|
1.553
|
|
|
Provisions |
|
|
0.017
|
|
Total
Current Liabilities |
|
|
78.069
|
|
|
Net Current Assets |
|
|
20.943
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
24.496 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
469.978 |
|
|
|
Other Income |
|
|
6.924 |
|
|
|
TOTAL |
|
|
476.902 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
451.011 |
|
|
|
A. C Repairs |
|
|
0.012 |
|
|
|
Bank Charges |
|
|
0.154 |
|
|
|
Business Promotion |
|
|
0.093 |
|
|
|
Computer Expenses |
|
|
0.072 |
|
|
|
Conveyance Expenses A/c |
|
|
0.007 |
|
|
|
Courier Charges |
|
|
0.038 |
|
|
|
Electric Expenses |
|
|
0.130 |
|
|
|
Insurance Charges |
|
|
0.169 |
|
|
|
Interest on car Loan |
|
|
0.113 |
|
|
|
Interest Paid |
|
|
0.345 |
|
|
|
Office Expenses A/c |
|
|
0.056 |
|
|
|
Petrol Expenses A/c Car |
|
|
0.437 |
|
|
|
Printing and Stationery |
|
|
0.016 |
|
|
|
Professional Charges |
|
|
0.061 |
|
|
|
Rent Gala |
|
|
0.422 |
|
|
|
Repair and Ment. – Vehicles |
|
|
0.141 |
|
|
|
Repair Maintenance-Gala |
|
|
0.037 |
|
|
|
Repair and Maintenance |
|
|
0.014 |
|
|
|
Salary Expenses A/c |
|
|
1.780 |
|
|
|
Telephone Expenses |
|
|
0.202 |
|
|
|
Tempo Petrol / Diesel Expenses |
|
|
0.758 |
|
|
|
Transport, Freight and Octroi |
|
|
0.456 |
|
|
|
Travelling Expenses |
|
|
0.184 |
|
|
|
Audit Fees |
|
|
0.030 |
|
|
|
Bank Interest Paid |
|
|
0.739 |
|
|
|
Commission Paid |
|
|
0.795 |
|
|
|
CST Paid-Daman |
|
|
0.438 |
|
|
|
CST Paid-Silvassa |
|
|
0.044 |
|
|
|
CST Paid-Vasai |
|
|
1.008 |
|
|
|
Discount Given |
|
|
0.014 |
|
|
|
Franking Charges |
|
|
0.031 |
|
|
|
Import Expenses |
|
|
0.210 |
|
|
|
Interest for Vat. Sales Tax |
|
|
0.001 |
|
|
|
Interest on Capital – Partner |
|
|
0.322 |
|
|
|
Interest Charges for Vasai |
|
|
0.009 |
|
|
|
Interest Charger Expenses |
|
|
0.014 |
|
|
|
L.C. Opening/ Amendment Charges/ Discount |
|
|
0.696 |
|
|
|
Loading and unloading Charges |
|
|
0.028 |
|
|
|
Loss on Sale of Assets (Car) |
|
|
0.228 |
|
|
|
Petrol Expenses |
|
|
0.034 |
|
|
|
Remuneration to partner |
|
|
3.678 |
|
|
|
Repair and Maintenance – Office
|
|
|
0.083 |
|
|
|
Repair and Maintenance – Vehicle |
|
|
0.065 |
|
|
|
Staff Welefare Expenses |
|
|
0.045 |
|
|
|
Sundry Expenses |
|
|
0.046 |
|
|
|
Tempo Expenses |
|
|
0.070 |
|
|
|
Vatav / Kasar |
|
|
0.031 |
|
|
|
Vat Tax Paid – Daman |
|
|
1.629 |
|
|
|
Vat Tax Paid – Silvassa |
|
|
2.025 |
|
|
|
Vat Tax Paid - Vasai |
|
|
4.946 |
|
|
|
TOTAL |
|
|
473.967 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
2.935 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.633 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
2.302 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
0.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
2.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.27 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
|
|
|
Debit |
Credit |
|
APMC FZE |
2.068 |
0.000 |
|
Bhadresh Enterprises |
0.000 |
0.011 |
|
Bhakti Cleford Private Limited |
|
0.001 |
|
Bombay Auto Garage and Welding Works |
|
0.020 |
|
Concept Distribution Company |
|
0.001 |
|
D.P Consultancy |
|
0.012 |
|
Harshil Doshi – Comm. Ledg. |
|
0.226 |
|
Hazel Mercantile Limited |
4.391 |
|
|
IOC Polymer Terminal |
0.029 |
|
|
Jai Ambe Logistics |
|
0.047 |
|
J.M. Textile Limited – Hemang |
|
1.175 |
|
Kajal Transports |
|
0.257 |
|
Kuloday Technopack Private Limited |
|
3.317 |
|
Megha Plast – Pankaj Mithani |
|
0.112 |
|
Mody Resins Private Limited |
|
0.536 |
|
Nikhil Adhesives Limited |
|
0.004 |
|
Nilkamal Limited |
|
0.020 |
|
Plasto Polychem Industries |
|
0.443 |
|
Pratik Enterprises – Bhadresh |
|
0.016 |
|
Premier Clearing Agencies Private Limited |
|
0.459 |
|
P.V Parekh and Company |
|
0.030 |
|
Rajesh N Gandhi |
|
0.010 |
|
RBI A/c Commissioner of Custom |
0.571 |
|
|
R.D. Shipping and Forwarding Private Limited |
|
0.024 |
|
Rotomac Global Private Limited |
|
3.469 |
|
Rotomac Polymers Private Limited |
|
29.863 |
|
R.S Overseas Private Limited |
|
3.099 |
|
Sanjay Enterprises |
|
0.024 |
|
Sejal Consultancy (D.P. Consultancy) |
|
0.015 |
|
Shakti Agencies |
|
0.458 |
|
Sigma Chemtrade Private Limited |
|
0.239 |
|
Surya Exim Limited |
|
0.301 |
|
Time Techno Plast Limited |
|
13.550 |
|
Total Petrochemicals France |
|
22.556 |
|
Varsha Corporation Limited |
2.688 |
|
|
Vifor Pharma Private Limited |
0.049 |
|
|
Vishesh Poly Impex Private Limited |
|
6.000 |
|
|
|
|
|
Total |
9.796 |
86.295 |
|
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
one year |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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 LOAN
|
PARTICULARS |
|
31.03.2012 (Rs.
in Millions) |
|
Chaitali Shah – 65182832 |
|
0.096 |
|
Harish B Parekh |
|
0.280 |
|
Hitesh P Talsania |
|
0.166 |
|
Interplast – Chandubhai |
|
0.007 |
|
Kasturben K Shah |
|
1.000 |
|
Kusum H Parekh |
|
0.280 |
|
Manish M Shah |
|
0.150 |
|
Rajesh K Shah |
|
0.063 |
|
Time Techno Plast Limited – Loan Account |
|
10.000 |
|
Kotak Mahindra Prime Limited I 20ASTA |
|
0.250 |
|
Sundaram Finance – FZ408146 – TEMPO-3551 |
|
0.065 |
|
Sundaram Finance Limited – EM4517 – TEMPO – 9684 |
|
0.013 |
|
Sundaram Finance Limited – Tempo No 1867 |
|
0.194 |
|
|
|
|
|
Total |
|
12.564 |
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 records 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.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
33 |
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.