|
Report Date : |
22.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
GASTRADE INTERNATIONAL |
|
|
|
|
Registered
Office : |
2nd Floor, Dhiraj Chamber, Plot
No. 30, Sector 9, Gandhidham, District Kutch –
370201, |
|
|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
May, 2009 |
|
|
|
|
Capital
Investment : |
Rs. 11.800 Millions |
|
|
|
|
IEC Code No.: |
0509050531 |
|
|
|
|
PAN No.: |
AHKPA6145K |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Importer and Trader of Petroleum Products and Multi Commodities. |
|
|
|
|
No. of Employees
: |
10 (Approximately) [In Office : 5 + In Branches : 5] |
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 47000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. However, trade relations are fair. Business is active. Payment terms
are reported as usually 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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. Deepak Aggarwal |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9811776634 |
|
Date : |
24.09.2013 |
LOCATIONS
|
Registered Office : |
2nd Floor, Dhiraj Chamber, Plot
No. 30, Sector 9, Gandhidham, District Kutch –
370201, Gujarat, India |
|
Tel. No.: |
91-2836-239128 |
|
Mobile No.: |
91-9811776634 (Mr. Deepak Agarwal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 sq.ft. |
|
Location : |
Rented |
|
|
|
|
Corporate Office : |
443 (Basement), |
|
Tel. No.: |
91-11-43576612/ 43576600 |
|
Fax No.: |
91-11-43576629/ 43576619 |
|
Area : |
1260 sq.ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Deepak Aggarwal |
|
Designation : |
Proprietor |
|
Address : |
443, |
|
Date of Birth/Age : |
11.02.1986 |
|
Qualification : |
MBA |
|
Experience : |
7 Years |
BUSINESS DETAILS
|
Line of Business : |
Importer and Trader of Petroleum Products and Multi Commodities. |
|
|
|
|
Imports : |
|
|
Products : |
Low Aromatic White Spirit, Fuel Oil, Solvents |
|
Countries : |
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
Cash, Advance and Remittance |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users · Ashok Cable Industries · Coral Panitochem Private Limited · Shree Shree International · Shree Sidhbali Industries Limited |
|
|
|
|
Supplier : |
· Shambhoo Petrochem Private Limited · Al- Barakah Factory · Universal Lubricants FZE · DHL Express India Private Limited · Anand Roadways · Gujrat Logistics · Jain Bulk Carrier · Shiv Ambey Transport Company · Shree Ram Logistics |
|
|
|
|
No. of Employees : |
10 (Approximately) [In Office : 5 + In Branches : 5] |
|
|
|
|
Bankers : |
·
Development Credit Bank Limited, ·
ICICI Bank Limited, · IDBI Bank Limited · State Bank of India, Nizamuddin Branch, New Delhi, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Akhilesh Chandra and Associates Chartered Accountants |
|
Address : |
206, A, 1st Floor, Jeewan Nagar, Near
MTNL, Opposite Maharani Bagh, New Delhi – 110014,
India |
|
Tel. No.: |
91-11-26346105 |
|
Fax No.: |
91-11-26346105 |
|
|
|
|
Sister Concerns: |
· Bajrang Petro Chem · Bajrang Industries · Banjrang Chemical |
CAPITAL STRUCTURE
As on 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs. 11.800 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 11.800
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note: Sole Proprietory and Partnership
concerns are exempted from filing their financials with the Government
Authorities or Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietors Capital |
|
11.800 |
11.311 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
11.800 |
11.311 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
16.027 |
8.942 |
|
|
2] Unsecured Loans |
|
17.559 |
14.530 |
|
|
TOTAL BORROWING |
|
33.586 |
23.472 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
45.386 |
34.783 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.997 |
3.449 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
10.953 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
7.573 |
14.216 |
|
|
Sundry Debtors |
|
24.898 |
0.961 |
|
|
Cash & Bank Balances |
|
3.755 |
0.250 |
|
|
Other Current Assets |
|
0.783 |
0.112 |
|
|
Loans & Advances |
|
12.463 |
9.396 |
|
Total
Current Assets |
|
49.472 |
24.935 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1.393 |
3.759 |
|
|
Other Current Liabilities |
|
1.318 |
0.795 |
|
|
Provisions |
|
4.372 |
0.000 |
|
Total
Current Liabilities |
|
7.083 |
4.554 |
|
|
Net Current Assets |
|
42.389 |
20.381 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
45.386 |
34.783 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
141.170 |
48.792 |
|
|
|
Other Income |
|
0.291 |
1.124 |
|
|
|
TOTAL |
|
141.461 |
49.916 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
109.569 |
33.763 |
|
|
|
CFS Charges |
|
1.545 |
0.404 |
|
|
|
Clearing and Handling Charges |
|
0.000 |
0.366 |
|
|
|
Custom Duty |
|
20.475 |
8.950 |
|
|
|
Freight Inwards |
|
0.892 |
0.472 |
|
|
|
Shipping line Charges |
|
0.142 |
0.344 |
|
|
|
Storage Tank Rent |
|
2.721 |
0.877 |
|
|
|
Interest on O.D. |
|
0.053 |
0.229 |
|
|
|
Interest on LC |
|
0.000 |
0.158 |
|
|
|
Freight Outwards |
|
0.067 |
0.456 |
|
|
|
Salary and Wages |
|
0.151 |
0.239 |
|
|
|
Short and Excess |
|
0.304 |
0.000 |
|
|
|
Telephone Expenses |
|
0.135 |
|
|
|
|
Other Expenses |
|
4.170 |
2.212 |
|
|
|
TOTAL |
|
140.224 |
48.470 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1.237 |
1.446 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.522 |
0.605 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.715 |
0.841 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
0.51 |
1.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.51 |
1.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.36 |
2.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.06 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
2.85 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
6.98 |
5.48 |
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
two years |
Yes |
|
12] |
Profitability for last
two year |
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 |
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] |
Incorporatio |
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.53.63 |
|
|
1 |
Rs.86.17 |
|
Euro |
1 |
Rs.69.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.