|
Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SPEED TRADING ENTERPRISES |
|
|
|
|
Registered
Office : |
“Shailesh Smruti”, Akton Sandor, Vasai West, Thane –
401201, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Date of
Incorporation : |
01.04.2010 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABSFS2274D |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturer and Distributor of Liquid Oxygen, Liquid Carbon-dioxide
and Liquid Argon. |
|
|
|
|
No. of Employees
: |
9 (Approximately) (Office – 3 and Factory – 6) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small partnership concern in its field. Its scale of
activities are limited. Company has achieved minimal sales turnover in the year 2013. However, trade relations are reported to be fair. Business sis active.
Payment terms are reported to be slow but correct. The concern can be considered for small to medium business dealing
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 |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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. Prasad Raut |
|
Designation : |
Administration Manager |
|
Contact No.: |
91-9823910625 |
|
Date : |
13.11.2013 |
LOCATIONS
|
Registered Office : |
“Shailesh Smruti”, Akton Sandor, Vasai West, Thane –
401201, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9823910625 (Mr. Prasad Raut) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
3000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
84/1, Pelhar Sopara Phata, National Highway No.1, Nallasopara East,
Thane, Maharashtra, India |
|
Area : |
11000 sq. ft. |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Shailesh Deepak Thakur |
|
Designation : |
Partner |
|
Address : |
Akton Sandor, Vasai (West), Thane, Maharashtra, India |
|
Date of Birth/Age : |
17.11.1988 |
|
Qualification : |
B. Com |
|
Experience : |
5 years |
|
PAN No.: |
AIAPT8694H |
|
|
|
|
Name : |
Mrs. Pradnya Prasad Raut |
|
Designation : |
Partner |
|
Address : |
2193, Saishilpa, Akton Sandor, Vasai (West), Thane - 401201,
Maharashtra, India |
|
Date of Birth/Age : |
19.03.1984 |
|
Qualification : |
B. Sc. |
|
Experience : |
7 years |
|
PAN No.: |
AULPR0489F |
KEY EXECUTIVES
|
Name : |
Mr. Prasad Raut |
|
Designation : |
Administration Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Distributor of Liquid Oxygen, Liquid Carbon-dioxide
and Liquid Argon. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days) |
|
|
|
|
Purchasing : |
Credit (60 days) |
PRODUCTION STATUS
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
Liquid Oxygen |
Ltr. |
20000 |
As per Order |
|
Liquid Carbon-dioxide |
Ltr. |
14000 |
As per Order |
|
Liquid Argon |
Ltr. |
20000 |
As per Order |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
9 (Approximately) (Office – 3 and Factory – 6) |
|
|
|
|
Bankers : |
· Bassien Catholic Co-operative Bank Limited |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Devendra Patil and Company Chartered Accountant |
|
Address : |
Vasai, Thane, Maharashtra, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[All figures are
in Rupees Millions]
NOT DIVULGED
The above information has been declined by Mr. Prasad Raut.
Note: Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
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 |
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 |
No |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
PROJECT
REPORT
INTRODUCTION
Subject is a partnership firm retained them to
prepare project report of their venture. Detailed of project report is based
upon the detailed discussion they had with partners.
ABOUT FIRM
Subject is a registered partnership firm since
1st April, 2010. Firm is having following two partner
· Mr. Shailesh D. Thakur
Pradnya
P. Raut
They are successfully running the firm for
last 3 years. Firm deals in supply of oxygen and other gases that required for
daily use by Industrial and medical sectors. Now firm intends to set up its own
plant for generation of Oxygen and other gases. Firm during three years of span
have developed good business relationships in medical and business sector.
MARKETING:
The ever – increasing demand of oxygen
has opened doors for this business. A number of allied businesses thrive on the
back of the fast growth in this segment. Industrial and healthcare sector,
which require oxygen, remained recession – Proof over the last years. The
demand for oxygen throughout these two sectors has been high. These demands are
not catered to its need. As such subject aims to bridge the gap between the
needs of the customers and the supply of oxygen.
PROFITABILITY
From the attached project profitability
statement, the returns on sales are expected to be 21.25% over the year. As can
be seen from the Cash flow statement, Liquidity of the business is also good
and therefore the firm will not find it difficult to pay interest and other
Bank charges on the working capital and Term Loan. They have calculated profit
on most conservative basis and partners are going to earn much more than what
is projected.
PROJECT COST
|
Particulars |
Rs. In Millions |
|
|
|
|
Tank |
2.620 |
|
Tank Erection and Other Equipment’s
cost |
2.835 |
|
|
|
|
Total |
5.455 |
SECURITY
Term Loan will be secured by mortgaging total;
property in favour of the Bank and all the partners will give their personal
guarantee to the bank.
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING
CAPITAL REQUIREMENT
OPERATING
STATEMENT
(RS. IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
Actual |
Estimated |
Projected |
||
|
Gross Sales |
|
|
|
|
|
|
Domestic Sales |
|
|
|
|
|
|
Sales |
0.782 |
3.200 |
16.390 |
18.029 |
19.832 |
|
Labour Charges |
-- |
-- |
-- |
-- |
-- |
|
Other Income |
0.000 |
0.026 |
0.412 |
0.453 |
0.499 |
|
Export Sales |
-- |
-- |
-- |
-- |
-- |
|
Total |
0.782 |
3.226 |
16.802 |
18.482 |
20.330 |
|
|
|
|
|
|
|
|
Less: Excise Duty |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Net Sales |
0.782 |
3.226 |
16.802 |
18.482 |
20.330 |
|
|
|
|
|
|
|
|
% age rise (+) or Fall (-) in Net Sales as compared to previous
year |
-- |
312.49 |
420.83 |
10.00 |
10.00 |
|
|
|
|
|
|
|
|
COST
OF SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Material (Including Stored and Other items used in the process of Manufacture) |
|
|
|
|
|
|
Imported |
-- |
-- |
-- |
-- |
-- |
|
Indigenous |
-- |
1.160 |
6.575 |
7.233 |
7.956 |
|
|
|
|
|
|
|
|
Purchases |
|
|
|
|
|
|
Imported |
0.532 |
0.585 |
0.643 |
0.707 |
0.778 |
|
Indigenous |
-- |
--- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Power and Fuel |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Transportation and wages |
0.082 |
0.336 |
1.747 |
1.922 |
2.114 |
|
|
|
|
|
|
|
|
Other Manufacturing Expenses |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Depreciation |
0.01 |
0.488 |
0.903 |
0.768 |
0.652 |
|
|
|
|
|
|
|
|
Sub Total |
0.615 |
2.569 |
9.868 |
10.629 |
11.500 |
|
|
|
|
|
|
|
|
Add: Opening Stock in Process |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Sub
Total |
0.615 |
2.569 |
9.868 |
10.629 |
11.500 |
|
|
|
|
|
|
|
|
Deduct : Closing Stock in Process |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Cost
of Production |
0.615 |
2.569 |
9.868 |
10.629 |
11.500 |
|
|
|
|
|
|
|
|
Add : Opening Stock of Finished Goods |
0.570 |
0.844 |
1.200 |
1.366 |
1.502 |
|
|
|
|
|
|
|
|
Sub
Total |
1.184 |
3.414 |
11.068 |
11.995 |
13.003 |
|
|
|
|
|
|
|
|
Less: Closing Stock of Finished Goods |
0.844 |
1.200 |
1.366 |
1.502 |
1.653 |
|
|
|
|
|
|
|
|
Sub Total (Total
Cost of Sales) |
0.340 |
2.214 |
9.702 |
10.493 |
11.350 |
|
|
|
|
|
|
|
|
Selling, General and Administrative Expenses |
0.312 |
0.468 |
3.433 |
3.776 |
4.154 |
|
|
|
|
|
|
|
|
Sub total |
0.652 |
2.682 |
13.135 |
14.269 |
15.504 |
|
|
|
|
|
|
|
|
Operating Profit before Interests
|
0.130 |
0.544 |
3.667 |
4.213 |
4.827 |
|
|
|
|
|
|
|
|
Interest |
0.022 |
0.309 |
0.799 |
0.743 |
0.681 |
|
|
|
|
|
|
|
|
Operating Profit After Interests
|
0.108 |
0.236 |
2.868 |
3.470 |
4.146 |
|
|
|
|
|
|
|
|
Deduct Other Non-Operating Expenses |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Net of Other Non-Operating Income/ Expenses |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Profit before
Taxes |
0.108 |
0.236 |
2.868 |
3.470 |
4.146 |
|
|
|
|
|
|
|
|
Less: Tax Provision |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Net Profit After
Tax |
0.108 |
0.236 |
2.868 |
3.470 |
4.146 |
|
|
|
|
|
|
|
|
Retained Profit |
1.08 |
2.36 |
16.68 |
15.70 |
12.46 |
|
|
|
|
|
|
|
|
Retained Profit/
Net profit (% age) |
100.00 |
100.00 |
58.15 |
45.25 |
30.05 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
Actual |
Estimated |
Projected |
||
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
|
|
From applicant Banks |
-- |
2.500 |
2.500 |
2.500 |
2.500 |
|
From Other Banks |
0.402 |
-- |
-- |
-- |
-- |
|
Of which BP and BD |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Sub
Total (A) |
0.402 |
2.500 |
2.500 |
2.500 |
2.500 |
|
|
|
|
|
|
|
|
Short Term Borrowings from others |
-- |
-- |
-- |
-- |
-- |
|
Sundry creditors [Trade] |
0.113 |
0.287 |
0.890 |
0.653 |
0.718 |
|
Sundry creditors [Expenses] |
-- |
-- |
-- |
-- |
-- |
|
Advance payments from customers/ deposits from dealers |
-- |
-- |
-- |
-- |
-- |
|
Provision of taxes |
-- |
-- |
-- |
-- |
-- |
|
Dividend Payable |
-- |
-- |
-- |
-- |
-- |
|
Other Statutory Liabilities (Due within one year) |
0.026 |
0.031 |
0.038 |
0.041 |
0.045 |
|
Deposits/ Installments of Term/ loans/DPGs/Debentures etc. (Due within one year) |
0.017 |
0.017 |
0.017 |
0.017 |
0.017 |
|
Other current liabilities and provision (Due within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Sub
– Total (B) |
0.156 |
0.335 |
0.944 |
0.710 |
0.780 |
|
|
|
|
|
|
|
|
Total
Current Liabilities |
0.558 |
2.835 |
3.444 |
3.210 |
3.280 |
|
|
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debentures (Not Maturing within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Preferences Shares (Redeemable after one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Prop. Term Loan excluding installments < 1 year |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Term Loans (Excluding Installment) |
-- |
4.414 |
3.930 |
3.391 |
2.789 |
|
|
|
|
|
|
|
|
Deferred Installment (Due within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Term deposit (repayable one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Other Term Liabilities |
0.644 |
0.160 |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Total
Term Liabilities |
0.644 |
4.574 |
3.930 |
3.391 |
2.789 |
|
Total
of Outside Liabilities |
1.201 |
7.408 |
7.374 |
6.601 |
6.068 |
|
|
|
|
|
|
|
|
Net
Worth |
|
|
|
|
|
|
Ordinary Share Capital |
0.364 |
1.973 |
2.208 |
3.876 |
5.446 |
|
General Reserve |
-- |
-- |
-- |
-- |
-- |
|
Shares Premium Account |
-- |
-- |
-- |
-- |
-- |
|
Plus (+) or deficit (-) in Profit and Loss Account others (Specify) |
0.108 |
0.236 |
1.668 |
1.570 |
1.246 |
|
Differed Tax Liability |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Net Worth |
0.473 |
2.208 |
3.876 |
5.446 |
6.692 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
1.674 |
9.616 |
11.250 |
12.047 |
12.760 |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.077 |
0.012 |
0.096 |
0.063 |
0.117 |
|
|
|
|
|
|
|
|
Fixed deposit with bank |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Receivable Other than Exports |
0.041 |
2.133 |
4.098 |
5.509 |
6.611 |
|
|
|
|
|
|
|
|
Installment of deferred receivable (due within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
INVENTORY: |
|
|
|
|
|
|
Raw materials
(including stores and other item used in the process of manufacturing) |
|
|
|
|
|
|
Imported |
-- |
-- |
-- |
-- |
-- |
|
Indigenous |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Stock – in – process |
-- |
-- |
-- |
-- |
-- |
|
Finished Goods |
0.844 |
1.200 |
1.366 |
1.502 |
1.653 |
|
|
|
|
|
|
|
|
Other Consumable Spares |
|
|
|
|
|
|
Imported Consumables |
-- |
-- |
-- |
-- |
-- |
|
Indigenous Consumables |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Advance to Suppliers of Raw materials and stores and
spares |
-- |
-- |
-- |
-- |
-- |
|
Advances Payments Taxes |
-- |
-- |
0.322 |
0.371 |
0.432 |
|
Other current assets (specify major items ) |
0.707 |
0.250 |
0.250 |
0.250 |
0.250 |
|
|
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
1.669 |
3.595 |
6.131 |
7.696 |
9.062 |
|
|
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
Gross Block |
0.005 |
6.510 |
6.022 |
5.119 |
4.351 |
|
Depreciation to date |
0.001 |
0.488 |
0.903 |
0.768 |
0.652 |
|
|
|
|
|
|
|
|
NET
BLOCK |
0.005 |
6.022 |
5.119 |
4.351 |
3.698 |
|
|
|
|
|
|
|
|
Investment/ books debts/ advances/ exposits which are not
current assets |
-- |
-- |
-- |
-- |
-- |
|
Investment in subsidiary company |
-- |
-- |
-- |
-- |
-- |
|
Others Investment |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Others
Debtors (6 month) |
|
|
|
|
|
|
Security Deposits |
-- |
-- |
-- |
-- |
-- |
|
Others |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
TOTAL
OTHER NON – CURRENT ASSETS |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Intangible assets |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
TOTAL
ASSETS |
1.674 |
9.616 |
11.250 |
12.047 |
12.760 |
|
|
|
|
|
|
|
|
Tangible Net Worth |
0.473 |
2.208 |
3.876 |
5.446 |
6.692 |
|
|
|
|
|
|
|
|
Net Working Capital |
1.111 |
0.760 |
2.687 |
4.486 |
5.782 |
|
|
|
|
|
|
|
|
Current Ratio |
2.99 |
1.27 |
1.78 |
2.40 |
2.76 |
|
|
|
|
|
|
|
|
Total Outside Liabilities/ Tangible Net Worth |
16.74 |
96.16 |
112.50 |
120.47 |
127.60 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
(RS. IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
Actual |
Estimated |
Projected |
||
|
Raw Materials (Including Stores, and Other
Items used in the Process of Manufacture) |
|
|
|
|
|
|
[a] Imported |
-- |
-- |
-- |
-- |
-- |
|
Months Consumption |
-- |
-- |
-- |
-- |
-- |
|
[b] Indigenous |
-- |
-- |
-- |
-- |
-- |
|
Months Consumption |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Other consumable spares, Excluding those
included 1 above |
|
|
|
|
|
|
[a] Imported |
-- |
-- |
-- |
-- |
-- |
|
Months Consumption |
-- |
-- |
-- |
-- |
-- |
|
[b] Indigenous |
-- |
-- |
-- |
-- |
-- |
|
Months Consumption |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Stock in process |
-- |
-- |
-- |
-- |
-- |
|
Months cost of production |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Finished goods |
0.844 |
1.200 |
1.366 |
1.502 |
1.653 |
|
Days of sales |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Receivable other than export and deferred
receivables [including bills purchased and discounted by bankers] |
0.041 |
2.133 |
4.098 |
5.509 |
6.611 |
|
Days of domestic sales |
19.35 |
40.00 |
90.00 |
110.00 |
120.00 |
|
|
|
|
|
|
|
|
Export receivables [including bills
purchased and discounted by bankers months export sales] |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Advances to suppliers of raw materials and
stores/ spares consumable |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Other current Assets including cash and bank
balances and deferred receivable due within one year |
0.783 |
0.262 |
0.668 |
0.685 |
0.799 |
|
|
|
|
|
|
|
|
TOTAL CURRENT ASSETS |
1.669 |
3.595 |
6.131 |
7.696 |
9.062 |
|
|
|
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
|
|
|
[Other than bank borrowing for working
capital] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
0.113 |
0.287 |
0.890 |
0.653 |
0.718 |
|
Days Purchases |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Credit for than Suppliers |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Advances from customers |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Statutory liabilities |
0.026 |
0.031 |
0.038 |
0.041 |
0.045 |
|
|
|
|
|
|
|
|
Other current liability including short term
borrowing dividend payable, installment of DPG public deposit, debentures
etc. |
0.017 |
0.017 |
0.017 |
0.017 |
0.017 |
|
|
|
|
|
|
|
|
TOTAL |
0.156 |
0.335 |
0.944 |
0.710 |
0.780 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
Actual |
Estimated |
Projected |
||
|
|
|
|
|
|
|
|
FIRST METHOD OF LENDING |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Current Assets |
1.669 |
3.595 |
6.131 |
7.696 |
9.062 |
|
|
|
|
|
|
|
|
Other Current Liabilities (Other than bank borrowings) |
0.156 |
0.335 |
0.944 |
0.710 |
0.780 |
|
|
|
|
|
|
|
|
Working Capital Gap (WCG) |
1.514 |
3.260 |
5.187 |
6.986 |
8.282 |
|
|
|
|
|
|
|
|
Minimum stipulated net working capital i.e.
25% of WCG/ 25% of total current assets as the case may be depending upon the
method of lending being applied (Export receivables to be excluded under both
methods) |
0.378 |
0.815 |
1.297 |
1.746 |
2.071 |
|
|
|
|
|
|
|
|
Actual / projected net working capital |
1.111 |
0.760 |
2.687 |
4.486 |
5.782 |
|
|
|
|
|
|
|
|
Item 3 minus item 4 |
1.135 |
2.445 |
3.891 |
5.239 |
6.212 |
|
|
|
|
|
|
|
|
Item 3 minus item 5 |
0.402 |
2.500 |
2.500 |
2.500 |
2.500 |
|
|
|
|
|
|
|
|
Maximum permissible bank finance (Item 6 or 7 whichever is lower) |
0.402 |
2.500 |
2.500 |
2.500 |
2.500 |
|
|
|
|
|
|
|
|
Excess Borrowing Representing Short falling
NWC |
NIL |
NIL |
NIL |
NIL |
NIL |
------------------------------------------------------------------------------------------------------------------------------
FUNDS FLOW STATEMENT
(RS IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
Actual |
Estimated |
Projected |
||
|
|
|
|
|
|
|
|
SOURCES OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Profit (after deferred tax) |
0.108 |
0.236 |
2.868 |
3.470 |
4.146 |
|
Depreciation |
0.001 |
0.488 |
0.903 |
0.768 |
0.652 |
|
Increase in share capital/appln./premium |
0.296 |
1.500 |
-- |
-- |
-- |
|
Increase in term liabilities (including public deposits) |
0.077 |
3.930 |
-- |
-- |
-- |
|
Decrease in |
|
|
|
|
|
|
-Fixed assets and capital WIP |
-- |
-- |
-- |
-- |
-- |
|
-Other non-current assets |
-- |
-- |
-- |
-- |
-- |
|
Inc./(dec.) in deferred tax liability /
(asset) |
-- |
-- |
-- |
-- |
-- |
|
Other |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
TOTAL |
0.482 |
6.154 |
3.771 |
4.238 |
4.798 |
|
|
|
|
|
|
|
|
USES |
|
|
|
|
|
|
Net Loss |
-- |
-- |
-- |
-- |
-- |
|
Decrease in term liabilities (including public deposits) |
-- |
-- |
0.644 |
0.540 |
0.602 |
|
Increase in |
|
|
|
|
|
|
-Fixed assets and capital WIP |
-- |
6.505 |
-- |
-- |
|
|
-Other non-current assets |
-- |
-- |
-- |
-- |
-- |
|
Dividend payments |
-- |
-- |
1.200 |
1.900 |
2.900 |
|
Inc./(Dec.) in deferred tax
assets/(liability) |
-- |
-- |
-- |
-- |
-- |
|
Others |
-- |
-- |
-- |
-- |
-- |
|
TOTAL |
-- |
6.505 |
1.844 |
2.440 |
3.502 |
|
|
|
|
|
|
|
|
Long term surplus (+) / Deficit (-) |
0.482 |
(0.351) |
1.927 |
1.798 |
1.296 |
|
Increase/decrease in current assets * (as per details given below) |
1.024 |
1.926 |
2.536 |
1.565 |
1.366 |
|
Increase/decrease in current liabilities
other than bank borrowings |
(0.131) |
(1.79) |
(0.609) |
0.234 |
(0.069) |
|
Increase/decrease in working capital gap |
0.893 |
1.747 |
1.927 |
1.798 |
1.296 |
|
Net surplus/ deficit |
(0.411) |
(2.098) |
0.000 |
0.000 |
0.000 |
|
Increase/decrease in bank borrowings |
(0.411) |
(2.098) |
0.000 |
0.000 |
0.000 |
|
Increase/decrease in net sales |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Break Up of Items |
|
|
|
|
|
|
Increase/decrease in raw materials |
|
|
|
|
|
|
Increase/decrease in stock-in-process |
|
|
|
|
|
|
Increase/decrease in finished goods |
0.275 |
0.356 |
0.166 |
0.137 |
0.150 |
|
Increase/decrease in receivables Domestic/ Exports |
0.041 |
2.092 |
1.964 |
1.411 |
1.102 |
|
Increase/decrease in stores and spares |
-- |
-- |
-- |
-- |
-- |
|
Increase/decrease in other current assets |
0.708 |
(0.522) |
0.406 |
0.017 |
0.114 |
|
NET INCREASE/DECREASE |
1.024 |
1.926 |
2.536 |
1.565 |
1.366 |
------------------------------------------------------------------------------------------------------------------------------
DETAILS OF ITEMS/
ITEMS TO BE MANUFACTURED
|
Items of
Manufacturer |
Capacity in case
of manufacturer/ Annum |
Initial date of
production/ Commencement of service. |
|
|
|
|
|
Manufacturer of Industrial and Medical Gases |
As per Order |
01.04.2010 |
|
|
|
|
DETAILS OF PLANT
AND MACHINERY AS PER DATE – WISE INVESTMENT
|
Investment in
Plant and M/c / Equipment |
Date of
Investment |
|
|
|
|
Rs.4.500 Millions / NIL |
01.04.2010 |
|
|
|
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.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
No |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
--RBI |
YES/NO |
No |
|
--EPF |
YES/NO |
No |
|
TOTAL |
|
27 |
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 |
-- |