MIRA INFORM REPORT
|
Report Date : |
03.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
PICASSO CERAMICS AND COLOURS PRIVATE LIMITED |
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Registered
Office : |
401, VIP Plaza 0/7, Veera Industrial Estate, Off Andheri – Malad Link
Road, Andheri (West), Mumbai-400053, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
17.07.1992 |
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Com. Reg. No.: |
11-067765 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.300
Million |
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CIN No.: [Company Identification
No.] |
U26939MH1992PTC067765 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP07541C |
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PAN No.: [Permanent Account No.] |
AACCP1564D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of a Ceramics Tiles. |
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No. of Employees
: |
30 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
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 8000 |
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Status : |
Moderate |
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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. The financial
position is moderate due to huge external borrowings. Profitability of the
company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
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. Anil |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9820368492 |
|
Date : |
27.04.2013 |
LOCATIONS
|
Registered Office : |
401, VIP Plaza 0/7, Veera Industrial Estate, Off Andheri – Malad Link
Road, Andheri (West), Mumbai-400053, Maharashtra, India |
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Tel. No.: |
91-22-26747801/ 802/ 806/ 811 |
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Fax No.: |
91-22-26747800/ 810/ 26742805 |
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E-Mail : |
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Area : |
550 sq. ft. |
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Location : |
Rented |
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Warehouse : |
Located at Bhiwandi, Maharashtra, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Shishir Shyamlal Betharia |
|
Designation : |
Director |
|
Address : |
401, Shivshankar Building, 29, Nutan Laxmi Co-operative Society, 10,
NS Road, Vileparle (West), Mumbai-400049, Maharashtra, India |
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Date of Birth/Age : |
14.02.1962 |
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Date of Appointment : |
17.07.1992 |
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Din No.: |
00289062 |
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Name : |
Mrs. Pallavi Shishir Betharia |
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Designation : |
Director |
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Address : |
401, Shivshankar Building, 29, Nutan Laxmi Co-operative Society, 10,
NS Road, Vileparle (West), Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
05.12.1966 |
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Date of Appointment : |
17.07.1992 |
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Din No.: |
00094651 |
KEY EXECUTIVES
|
Name : |
Mr. Anil |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Betharia Shishir |
|
4500 |
|
Betharia Pallavi |
|
10500 |
|
Shishir Betharia – HUF |
|
3000 |
|
Kshitij Betharia |
|
6000 |
|
Amita Betharia |
|
3000 |
|
Rashmi Verma |
|
3000 |
|
Total |
|
30000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of a Ceramics Tiles. |
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Imports : |
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Products : |
Ceramic Tiles |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
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No. of Employees : |
30 [Approximately] |
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Bankers : |
Tel. No.: 91-22-26327732
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
CVK and Associates Chartered Accountants |
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Address : |
2, Samartha Apartments, D S Babrekar Marg, Dadar (West), Mumbai-400028,
Maharashtra, India |
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Tel. No.: |
91-22-24468717/ 24451488 |
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Fax No.: |
91-22-24666139 |
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E-Mail : |
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Pan No.: |
AAAFC3657K |
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Relted Party : |
Kshitij Investment |
CAPITAL STRUCTURE
After 29.09.2012
Authorised Capital : Rs. 1.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 1.000 Million
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.10/- each |
Rs.0.300
Million |
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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 |
|
|
|
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|
1] Share Capital |
0.300 |
0.300 |
0.300 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
1.656 |
1.559 |
1.356 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.956 |
1.859 |
1.656 |
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|
LOAN FUNDS |
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
20.500 |
12.150 |
12.150 |
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TOTAL BORROWING |
20.500 |
12.150 |
12.150 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.0000 |
0.000 |
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|
|
|
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|
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TOTAL |
22.456 |
14.009 |
13.806 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.202 |
0.223 |
0.248 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.051 |
0.050 |
0.050 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
22.328
|
19.959 |
16.249
|
|
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Sundry Debtors |
5.499
|
4.879 |
3.486
|
|
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Cash & Bank Balances |
2.789
|
2.700 |
1.239
|
|
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Other Current Assets |
1.473
|
0.000 |
0.000
|
|
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Loans & Advances |
0.502
|
1.005 |
0.591
|
|
Total
Current Assets |
32.591
|
28.543 |
21.565 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
7.698
|
8.419 |
5.308 |
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Other Current Liabilities |
1.938
|
4.471 |
1.073
|
|
|
Provisions |
0.752
|
1.917 |
1.676
|
|
Total
Current Liabilities |
10.388
|
14.807 |
8.057
|
|
|
Net Current Assets |
22.203
|
13.736 |
13.508
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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|
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TOTAL |
22.456 |
14.009 |
13.806 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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|
|
|
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Income |
52.480 |
42.420 |
25.386 |
|
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Other Income |
NA |
0.980 |
1.170 |
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TOTAL (A) |
NA |
43.400 |
26.556 |
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|
|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
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|
NA |
30.401 |
18.126 |
|
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Administrative Overheads |
|
7.946 |
6.080 |
|
|
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Directors Remunerations |
|
2.411 |
0.800 |
|
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Foreign Exchange Fluctuation Loss |
|
0.000 |
0.211 |
|
|
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Capital Gains Loss |
|
0.046 |
0.010 |
|
|
|
TOTAL (B) |
NA |
40.804 |
25.227 |
|
|
|
|
|
|
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|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
2.596 |
1.329 |
|
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|
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Less |
FINANCIAL
EXPENSES (D) |
NA |
2.249 |
1.175 |
|
|
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|
|
|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
0.347 |
0.154 |
|
|
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
0.082 |
0.134 |
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|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.141 |
0.265 |
0.020 |
|
|
|
|
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|
|
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|
Less |
TAX (H) |
0.044 |
0.062 |
(0.011) |
|
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|
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|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.097 |
0.203 |
0.031 |
|
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|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
14.859 |
11.684 |
NA |
|
|
|
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|
|
|
|
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|
IMPORTS |
NA |
23.277 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.23 |
20.30 |
1.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
0.47
|
0.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.27
|
0.62
|
0.08 |
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|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.43
|
0.92
|
0.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.14
|
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
10.48
|
6.54
|
7.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.14
|
1.93
|
2.68 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
6.958 |
8.169 |
|
|
Deposits From Customer |
0.740 |
0.250 |
|
|
|
|
|
|
|
Total |
7.698
|
8.419 |
5.308 |
|
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
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 |
No |
NOTE
The Registered office of the company has been shifted from 603, Silver
Islemahatarpada, Amboli, Andheri (West), Mumbai- 400058, Maharashtra, India to present
address w.e.f. 01.04.2008.
COMPANY INFORMATION
Subject is a dealer in ceramic colours and products. The Company is a Small and Medium Sized Company (SMC) as defined in the General Instructions in respect of Accounting Standards notified under the Companies Act, 1956. Accordingly, the Company has complied with the Accounting Standards as applicable to a Small and Medium Sized Company.
RESULTS AND FUTURE
OUTLOOK
The performance of the company during the year is satisfactory. The
sales turnover has increased from Rs. 42.421 millions to Rs. 52.480 millions.
The company has made a profit before tax of Rs. 0.141 millions
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Kanak Betharia |
6.500 |
3.600 |
|
Kshitij Investment |
11.800 |
8.550 |
|
Shishir Betharia - HUF |
2.200 |
0.000 |
|
Total |
20.500 |
12.150 |
FIXED ASSETS
- Air
Conditioner
- Barcode
Printer
- Computer
- Furniture
- Cooler
- Digital
Camera
- Cycle
- Fan A/C
- L.G.
Television
- Telephone
Instrument
- Two Wheeler
- Mobile Phone
- Vacuum Vessel
- Water Cooler
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.53.74 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--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 |
|
29 |
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.