MIRA
INFORM REPORT
|
Report Date : |
22.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
NIMIT IMPEX |
|
|
|
|
Registered
Office : |
192, Pushpa Kunj, Room – 3, Ground Floor, Station Road, Wadala, Mumbai
– 400031, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
2003 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.473 Millions |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Trader and Importer of Electrical Steel |
|
|
|
|
No. of Employees
: |
10 (5 In Office, 5 In Warehouse) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 42000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietary concern having a satisfactory
track record. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The concern can be considered for business dealings 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.
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. Prakash |
|
Designation : |
Proprietor |
|
Contact No.: |
91-24025193 |
|
Date : |
20.06.2013 |
LOCATIONS
|
Registered Office : |
192, Pushpa Kunj, Room – 3, Ground Floor, Station Road, Wadala, Mumbai
– 400031, Maharashtra, India |
|
Tel. No.: |
91-24025193 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Warehouse : |
Located At : Taloja |
SOLE PROPRIETOR
|
Name : |
Mr. Prakash |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Electrical Steel |
|
|
|
|
Imports : |
|
|
Products : |
Electrical Steel |
|
Countries : |
·
Western Countries ·
Poland ·
USA ·
African |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit (91 to 180 Days) |
|
|
|
|
Purchasing : |
L/C and Credit (91 to 180 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and OEM’s ·
AK Steel, USA
|
|
|
|
|
No. of Employees : |
10 (5 In Office, 5 In Warehouse) (Approximately) |
|
|
|
|
Bankers : |
Indian Bank, Wadala Branch, Mumbai, Maharashtra, India |
|
|
|
|
Facilities : |
Over Draft = Rs.10.000 Millions, LC = Rs.20.000 Millions |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.P. Nayak and Company Chartered Accountants |
|
|
|
|
Sister Concern : |
·
Dynamo Stamping Industries ·
Paravarsh Impex Private Limited |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 10.473 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 10.473
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
300.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.350.000 Millions
The above information has been parted by Mr. Prakash
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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietors Capital |
|
10.473 |
12.854 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
10.473 |
12.854 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
208.570 |
201.548 |
|
|
TOTAL BORROWING |
|
208.570 |
201.548 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
219.043 |
214.402 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4.631 |
5.163 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
15.509 |
66.996 |
|
|
Sundry Debtors |
|
268.316 |
106.507 |
|
|
Cash & Bank Balances |
|
2.235 |
10.878 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
100.818 |
130.996 |
|
Total
Current Assets |
|
386.878 |
315.377 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
|
172.466 |
106.138 |
|
|
Net Current Assets |
|
214.412 |
209.239 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
219.043 |
214.402 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
304.734 |
133.180 |
|
|
|
Other Income |
|
15.799 |
18.608 |
|
|
|
TOTAL (A) |
|
320.533 |
151.788 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
252.045 |
117.193 |
|
|
|
Loss On Foreign Exchange |
|
17.287 |
0.000 |
|
|
|
Carriage Inward |
|
0.944 |
0.821 |
|
|
|
Unloading Charges |
|
0.094 |
0.077 |
|
|
|
Wages & Bonus |
|
0.330 |
0.288 |
|
|
|
Spreading & Sorting
Charges |
|
0.090 |
0.072 |
|
|
|
Crane Charges |
|
0.055 |
0.090 |
|
|
|
Electricity Charges |
|
0.066 |
0.070 |
|
|
|
Repairs & Maintenance |
|
0.090 |
0.055 |
|
|
|
Salaries & Bonus |
|
0.419 |
0.585 |
|
|
|
Bank Charges |
|
0.211 |
0.305 |
|
|
|
Postage & Courier |
|
0.055 |
0.053 |
|
|
|
Loading Charges |
|
0.100 |
0.078 |
|
|
|
Conveyance |
|
0.080 |
0.064 |
|
|
|
Sundry Expenses |
|
0.075 |
0.072 |
|
|
|
Sales Tax |
|
8.754 |
3.075 |
|
|
|
Loss on Foreign Exchange
Fluctuations |
|
0.000 |
0.710 |
|
|
|
Interest Expenses |
|
24.848 |
22.460 |
|
|
|
Professional Fees |
|
0.033 |
0.035 |
|
|
|
Sales Promotion Exp |
|
0.089 |
0.089 |
|
|
|
Printing & Stationery |
|
0.064 |
0.042 |
|
|
|
Insurance Charges |
|
0.092 |
0.098 |
|
|
|
Motor Car Insurance |
|
0.021 |
0.000 |
|
|
|
Brokerage &
Commission |
|
0.605 |
0.236 |
|
|
|
Telephone Expenses |
|
0.163 |
0.080 |
|
|
|
Motor Car Running
Expenses |
|
0.091 |
0.105 |
|
|
|
Office & Staff
Welfare Exp |
|
0.065 |
0.053 |
|
|
|
Freight Charges |
|
0.000 |
0.201 |
|
|
|
Travelling Expenses |
|
0.379 |
0.294 |
|
|
|
Transportation Charges |
|
0.000 |
0.062 |
|
|
|
Rent Rates & Taxes |
|
0.016 |
0.017 |
|
|
|
Remuneration To Auditors |
|
0.080 |
0.060 |
|
|
|
Profession Tax |
|
0.002 |
0.002 |
|
|
|
Water Charges |
|
0.015 |
0.018 |
|
|
|
TOTAL |
|
307.258 |
147.460 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
13.275 |
4.328 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
0.628 |
0.716 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
12.647 |
3.612 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
3.94 |
2.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.15 |
2.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.23 |
1.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.21 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
19.91 |
15.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.24 |
2.97 |
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 |
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 two 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 |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
Yes |
|
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 |
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.59.35 |
|
|
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.