|
Report Date : |
05.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARIHANT IMPEX |
|
|
|
|
Registered
Office : |
101/102, Joshi Chamber, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
03.01.2014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
IEC No.: |
0314007989 |
|
|
|
|
PAN No.: [Permanent Account No.] |
ADSPS6416P |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Importer and Trader of Colour Coated Coils/Sheets (Steel) and HR Coils. |
|
|
|
|
No. of Employees
: |
8 (Approximately) (Office – 3 and Factory – 5) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new proprietary concern and establishing itself
gradually. Mr. Amar Shah (Proprietor) has provided us with all information. Payment terms are unknown. The concern can be considered for business dealings on a safe and
secured 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
NEWS
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes that many things such as apartment
sales, luxury products, etc. were largely bought with dirty money. And it is
now beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 %! Equities came in second with annualized return of
15.5 %! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Amar Dinesh Shah |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9870262225 |
|
Date : |
05.08.2014 |
LOCATIONS
|
Registered Office : |
101/102, Joshi Chamber, Ahmedabad Street, Carnac Bunder, Mumbai – 400009,
Maharashtra, India |
|
Tel. No.: |
91-22-43117777 |
|
Mobile No.: |
91-9870262225 (Mr. Amar Dinesh Shah) |
|
Fax No.: |
91-22-23485197 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Godown/ Factory : |
D-15, MIDC Industrial Area Taloja District Raigad, Navi Mumbai –
410208, Maharashtra, India |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Amar Dinesh Shah |
|
Designation : |
Proprietor |
|
Address : |
A-601/602, Pratap Heritage, Opposite Veer Savarkar Udyog, L. T. Road,
Borivali (West), Mumbai – 400092, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1979 |
|
Qualification : |
B. Com |
|
Experience : |
15 years |
|
PAN No.: |
ADSPS6416P |
BUSINESS DETAILS
|
Line of Business : |
Importer and Trader of Colour Coated Coils/Sheets (Steel) and HR Coils. |
|
|
|
|
Products : |
· Colour Coated Coils and Sheets · HR Coils |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (60-90 days) |
|
|
|
|
Purchasing : |
L/C |
GENERAL INFORMATION
|
No. of Employees : |
8 (Approximately) (Office – 3 and Factory – 5) |
|
|
|
|
Bankers : |
· Bank of India Nariman Point Branch, Air-India
Building, Mumbai, Maharashtra, India · HDFC Bank Limited Elphinstone House, 17 Murzban Road, Near C S T – VT, Mumbai – 400001, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. M. Kathariya and Company Chartered Accountants |
|
Address : |
Room No.6, Kermani Building, 4th Floor, 27 Sir P. M. Road,
Fort, Mumbai – 400001, Maharashtra, India
|
|
Tel No.: |
91-22-66315862 |
|
Fax No.: |
91-22-22856615 |
|
Mobile No.: |
91-9821034665 |
|
Email : |
|
|
|
|
|
Associates/Subsidiaries : |
· Anmol Steel and Infra Private Limited Address: D-15, MIDC Industrial
Area, Taloja, District Raigad, Navi Mumbai – 410208, Maharashtra, India Line of
Business: Trading of Iron and Steel
especially in HR Coils (locally) |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[All figures are
in Rupees Millions]
NEW CONCERN
Note: Sole Proprietary 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 |
No |
|
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 |
No |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister concerns |
Yes |
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
PROFIT AND LOSS ACCOUNTS
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Projections) |
(Projections) |
(Projections) |
||
|
|
SALES |
|
|
|
|
1
|
Domestic Sales |
2,50.000 |
320.000 |
400.000 |
|
2
|
export sales |
- |
|
|
|
|
Gross Sales: |
250.000 |
320.000 |
400.000 |
|
|
Less: Excise Duty |
-- |
-- |
-- |
|
|
Net Sales: |
250.000 |
320.000 |
400.000 |
|
|
|
|
|
|
|
|
Increase in net sales (%) |
-- |
28.00% |
25.00% |
|
|
|
|
|
|
|
|
COST OF SALES: |
|
|
|
|
1
|
Raw Materials |
|
|
|
|
A |
Imported |
195.000 |
238.080 |
294.000 |
|
B |
Indigenous |
50.625 |
60.800 |
68.000 |
|
2
|
Other Spares |
-- |
-- |
-- |
|
3
|
Power & Fuel |
-- |
-- |
-- |
|
4
|
Salaries & Wages |
1.875 |
2.080 |
2.400 |
|
5
|
Other Direct Expenses |
0.500 |
0.640 |
0.800 |
|
6
|
Depreciation |
0.050 |
0.050 |
0.050 |
|
7
|
Octroi and Freight &Custom |
0.500 |
0.320 |
0.400 |
|
|
Sub Total: |
248.550 |
301.970 |
365.650 |
|
|
|
|
|
|
|
|
Add: Opening Stock in Process |
-- |
-- |
-- |
|
|
Deduct: Closing Stock in Process |
-- |
-- |
-- |
|
|
Cost of Production: |
248.550 |
301.970 |
365.650 |
|
|
C O P as % of Gross Sales |
99.42% |
94.37% |
91.41% |
|
|
|
|
|
|
|
|
Add: Opening Stock of Finished Goods |
- |
27.500 |
45.000 |
|
|
Deduct: Closing Stock of Finished Goods |
27.500 |
45.000 |
56.000 |
|
|
Cost of Sales: |
221.050 |
284.470 |
354.650 |
|
|
Cost of Sales as % of Gross Sales |
88.42% |
88.90% |
88.66% |
|
|
|
|
|
|
|
|
Selling, General and Administrative
Expenses |
5.000 |
5.600 |
8.000 |
|
|
|
|
|
|
|
|
Profit Before Interest and Tax (PBIT) |
23.950 |
29.930 |
37.350 |
|
|
|
|
|
|
|
|
PBIT as % of gross sales |
9.58% |
9.35% |
9.34% |
|
|
|
|
|
|
|
|
Interest on Term Loans |
-- |
-- |
-- |
|
|
Interest on Working Capital |
3.900 |
4.100 |
4.500 |
|
|
Other Finance Charges |
1.100 |
1.100 |
1.100 |
|
|
Total Interest Cost |
5.000 |
5.200 |
5.600 |
|
|
Interest and Finance charges as % of sales |
2.00% |
1.63% |
1.40% |
|
|
|
|
|
|
|
|
Operating Profit Before Tax (PBT) |
18.950 |
24.730 |
31.750 |
|
|
PBT as % of Gross Sales |
7.58% |
7.73% |
7.94% |
|
|
|
|
|
|
|
|
Add Other Non-Operative Income: |
|
|
|
|
1
|
Interest ON FD |
-- |
-- |
-- |
|
|
Sub-Total (Income) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Deduct Other Non-Operating Expenses |
|
|
|
|
1
|
Preliminary Exp. W/off |
-- |
-- |
-- |
|
2
|
Loss on Foreign Exchange |
-- |
-- |
-- |
|
|
Sub-Total (Expenses) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Profit Before Tax /
Loss |
18.950 |
24.730 |
31.750 |
|
|
|
|
|
|
|
|
Deferred Tax Liability |
-- |
-- |
-- |
|
|
Provision For Taxes |
5.685 |
7.419 |
9.525 |
|
|
|
|
|
|
|
|
NET Profit/Loss (PAT) |
13.265 |
17.311 |
22.225 |
|
|
|
|
|
|
|
|
PAT as % of Gross Sales |
5.31% |
5.41% |
5.56% |
|
|
Less:- Short Provision for Tax |
-- |
-- |
-- |
|
|
Dividend and Dividend Tax |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Retained Profit |
13.265 |
17.311 |
22.225 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Projections) |
(Projections) |
(Projections) |
||
|
|
LIABILITIES: |
|
|
|
|
|
CURRENT LIABILITIES: |
|
|
|
|
|
Short Term Borrowings
From Banks
(Including bill purchased/discounted) |
|
|
|
|
1 |
From Applicant Bank (CC /
WCDL) |
30.000 |
30.000 |
30.000 |
|
2 |
From Other Banks |
-- |
-- |
-- |
|
3 |
(Of which Bill purchased
& disc.) |
-- |
-- |
-- |
|
|
Sub Total |
30.000 |
30.000 |
30.000 |
|
|
|
|
|
|
|
|
Short Term Borrowings
From Others |
-- |
-- |
-- |
|
|
Acceptance & Sundry
Creditors (Trade) |
21.000 |
32.000 |
39.000 |
|
|
Sundry Creditors for
Expenses/Others |
-- |
-- |
-- |
|
|
Provision for Taxation |
-- |
-- |
-- |
|
|
Dividend Payable |
-- |
-- |
-- |
|
|
Other Statutory
Liabilities ( Due within 1 year) |
-- |
-- |
-- |
|
|
Instalments for Term
Loans / Debentures/ DPG's/ Deposits etc. (due within 1 year) |
-- |
-- |
-- |
|
|
Other Current Liabilities
and Provisions (Due within 1 year) |
1.500 |
2.100 |
2.700 |
|
|
Advances from customers |
0.700 |
1.200 |
1.700 |
|
|
SUB TOTAL |
23.200 |
35.300 |
43.400 |
|
|
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES |
53.200 |
65.300 |
73.400 |
|
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
Term Loans (Excluding instalments
payable within one year) |
-- |
-- |
-- |
|
|
Unsecured Loans from
Others |
-- |
-- |
-- |
|
|
Car Loan/ Vehicle Loan |
-- |
-- |
-- |
|
|
TOTAL TERM LIABILITIES |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
TOTAL OUT SIDE
LAIBILITIES LIABILITIES |
532.00 |
653.00 |
734.00 |
|
|
|
|
|
|
|
|
Ordinary Share Capital |
9.980 |
9.980 |
9.980 |
|
|
Reserves
& Surplus |
|
|
|
|
|
General Reserve |
-- |
-- |
-- |
|
|
Share Application Money |
-- |
-- |
-- |
|
|
Share Premium |
-- |
-- |
-- |
|
|
Revaluation Reserve |
-- |
-- |
-- |
|
|
Surplus (+) or deficit (-) in P & L account |
13.265 |
30.576 |
52.801 |
|
|
Capital reserves and others |
-- |
-- |
-- |
|
|
Unsecured Loans from Promoters
- Quasi Equity/Capital Subsidy |
75.033 |
75.033 |
75.033 |
|
|
Deferred Tax Liability |
-- |
-- |
-- |
|
|
NET WORTH |
98.278 |
115.589 |
137.814 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
151.478 |
180.889 |
211.214 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
Cash & Bank Balances |
1.318 |
1.079 |
1.154 |
|
|
Investments (Other than
Long Term) |
-- |
-- |
-- |
|
1 |
Govt. and other
securities |
-- |
-- |
-- |
|
2 |
Fixed deposits with banks |
3.000 |
8.000 |
15.000 |
|
|
Receivables |
|
|
|
|
|
Receivables other than
deferred and exports (Including bills
purchased and discounted by banks) |
37.500 |
44.000 |
55.000 |
|
|
INVENTORY |
|
|
|
|
|
Raw Material - Indigenous |
-- |
-- |
-- |
|
|
Finished Goods |
27.500 |
45.000 |
56.000 |
|
|
Advance Payment of Tax |
-- |
-- |
-- |
|
|
Other Current Assets:- |
|
|
|
|
|
Advance Receivable |
-- |
-- |
-- |
|
|
Others |
1.200 |
1.500 |
2.200 |
|
|
Prepaid Expenses |
-- |
-- |
-- |
|
|
Advance to suppliers |
0.500 |
0.900 |
1.500 |
|
|
Loans & Advances |
-- |
-- |
-- |
|
|
Tax & Others refundable |
-- |
-- |
-- |
|
|
TOTAL CURRENT ASSETS |
71.018 |
100.479 |
130.854 |
|
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
GROSS BLOCK |
63.710 |
63.710 |
63.710 |
|
|
Less: Depreciation |
0.050 |
0.100 |
0.150 |
|
|
NET BLOCK |
63.660 |
63.610 |
63.560 |
|
|
|
|
|
|
|
|
OTHER NON CURRENT ASSETS |
|
|
|
|
1 |
Advances in income tax |
|
|
- |
|
2 |
Investments |
16.800 |
16.800 |
16.800 |
|
|
TOTAL OTHER NON CURRENT
ASSETS |
16.800 |
16.800 |
16.800 |
|
|
|
|
|
|
|
|
Intangible Assets
(Patents, Goodwill Prilim. Expenses,
Bad/Doubtful Expenses not provided for) |
- |
- |
- |
|
|
TOTAL ASSETS |
151.478 |
180.889 |
211.214 |
------------------------------------------------------------------------------------------------------------------------------
BUILD UP OF CURRENT ASSETS
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
(Projections) |
(Projections) |
(Projections) |
|
|
Raw Material - Indigenous |
0.000 |
0.000 |
0.000 |
|
Month's Consumption |
-- |
-- |
-- |
|
Raw Material - Imported |
0.000 |
0.000 |
0.000 |
|
Month's Consumption |
-- |
-- |
-- |
|
|
|
|
|
|
Consumable Spares - Indigenous |
0.000 |
0.000 |
0.000 |
|
Month's Consumption |
-- |
-- |
-- |
|
Consumable Spares - Imported |
0.000 |
0.000 |
0.000 |
|
Month's Consumption |
-- |
-- |
-- |
|
|
|
|
|
|
Stock In Process |
0.000 |
0.000 |
0.000 |
|
Month's Cost of Production |
-- |
-- |
-- |
|
|
|
|
|
|
Finished Goods |
27.500 |
45.000 |
56.000 |
|
Month's Cost of Sales |
1.49 |
1.90 |
1.89 |
|
|
|
|
|
|
Receivables Domestic (Other than deferred and exports )(Incl.
bills purchased and discounted by banks) |
37.500 |
44.000 |
55.000 |
|
Month's Domestic Sales |
1.80 |
1.65 |
1.65 |
|
|
|
|
|
|
Export Receivable (Including bills purchased and discounted
by banks) |
0.000 |
0.000 |
0.000 |
|
Month's Export Sales |
-- |
-- |
-- |
|
|
|
|
|
|
BUILD UP OF CURRENT LIABILITY |
|
|
|
|
(Other than bank borrowings for working
capital) |
|
|
|
|
Creditors for Purchases |
21.000 |
32.000 |
39.000 |
|
Month's Purchases |
1.03 |
1.28 |
1.29 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF FINANCIAL
CONDITION COMPANY AS A WHOLE
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
(Projections) |
(Projections) |
(Projections) |
|
|
Total Assets (Tangible) |
151.478 |
180.889 |
211.214 |
|
Total Outside Liabilities |
53.200 |
65.300 |
73.400 |
|
Tangible Networth |
98.278 |
115.589 |
137.814 |
|
Adjusted
Tangible Networth (TNW Minus Investments)-Revaluation Reserve |
81.478 |
98.789 |
121.014 |
|
Net Sales |
250.000 |
320.000 |
400.000 |
|
EBDITA |
24.000 |
29.980 |
37.400 |
|
Operating Profits (PBIT) |
23.950 |
29.930 |
37.350 |
|
Gross Profit (Sales Minus Cost of Sales ) |
28.950 |
35.530 |
45.350 |
|
Net Profits |
13.265 |
17.311 |
22.225 |
|
Gross Cash Accruals |
13.265 |
17.361 |
22.275 |
|
Net Working Capital |
17.818 |
35.179 |
57.454 |
|
|
|
|
|
|
Current Ratio |
1.33 |
1.54 |
1.78 |
|
Quick Ratio |
0.82 |
0.85 |
1.02 |
|
|
|
|
|
|
Gross Profit to Net Sales (%) |
11.58% |
11.10% |
11.34% |
|
EBIDTA/Sales (%) |
9.60% |
9.37% |
9.35% |
|
PBIT / Net Sales (%) |
9.58% |
9.35% |
9.34% |
|
PBT / Net Sales (%) |
7.58% |
7.73% |
7.94% |
|
NET Profit / Sales (%) |
5.31% |
5.41% |
5.56% |
|
NET Sales Growth (%) |
-- |
28.00% |
25.00% |
|
NET Profit Growth (%) |
-- |
30.50% |
28.39% |
|
Net Worth Growth (%) |
-- |
17.61% |
19.23% |
|
Return On Assets (%) |
8.76% |
9.57% |
10.52% |
|
Retained Profits/ Net Profits (%) |
100.00% |
100.00% |
100.00% |
|
Return On Net Worth (%) |
13.50% |
14.98% |
16.13% |
|
|
|
|
|
|
Recv. Turnover – Domestic |
5.500 |
5.000 |
5.000 |
|
Recv. Turnover – Export |
-- |
-- |
-- |
|
Inventory Turnover |
4.000 |
5.100 |
5.100 |
|
Accounts Payables Turnover |
3.100 |
3.900 |
3.900 |
|
Fixed Assets Turnover Ratio |
1.96 |
1.26 |
1.57 |
|
TOL / Tang. Networth |
0.54 |
0.56 |
0.53 |
|
Interest Cover |
0.614 |
0.731 |
0.831 |
|
DSCR (EBIDTA Minus Tax Divided by Instalment
Plus Interest) |
-- |
-- |
-- |
|
TNW To Total Assets |
0.65 |
0.64 |
0.65 |
|
Total Debt |
30.000 |
30.000 |
30.000 |
|
Total Debt / EBITDA |
1.25 |
1.00 |
0.80 |
|
DEBT/Equity |
0.31 |
0.26 |
0.22 |
------------------------------------------------------------------------------------------------------------------------------
CALCULATION OF MAXIMUM
PERMISSIBLE BANK
(RS. IN MILLIONS)
|
SECOND METHOD OF LENDING |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Projections) |
(Projections) |
(Projections) |
||
|
1 |
Total Current Assets |
71.018 |
100.479 |
130.854 |
|
|
|
|
|
|
|
2 |
Other Current Liabilities (Other than
Bank Borrowings and TL Instalments due within one Year) |
23.200 |
35.300 |
43.400 |
|
|
|
|
|
|
|
3 |
Working Capital Gap |
47.818 |
65.179 |
87.454 |
|
|
|
|
|
|
|
4 |
Min. Stipulated net working capital ( 25% of Total Current Assets excluding
Export Receivables) |
17.755 |
25.120 |
32.714 |
|
|
|
|
|
|
|
5 |
Actual / Projected NWC |
17.818 |
35.179 |
57.454 |
|
|
|
|
|
|
|
6 |
Item 3 Minus Item 4 |
30.064 |
40.059 |
54.741 |
|
|
|
|
|
|
|
7 |
Item 3 Minus Item 5 |
30.000 |
30.000 |
30.000 |
|
|
|
|
|
|
|
8 |
Maximum Permissible Bank Finance (Lower of 6 or 7) |
30.000 |
30.000 |
30.000 |
|
|
|
|
|
|
|
9 |
Excess Borrowings Representing Shortfall in
NWC |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
FUNDS FLOW STATEMENT COMPANY AS A WHOLE
(RS. IN MILLIONS)
|
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
(Projections) |
(Projections) |
(Projections) |
|
|
LONG TERM SOURCES |
|
|
|
|
1 |
Net Profit After Tax (Retained Earnings) |
13.265 |
17.311 |
22.225 |
|
2 |
Depreciation |
0.000 |
0.050 |
0.050 |
|
3 |
Increase in TNW |
85.013 |
0.000 |
0.000 |
|
4 |
Increase in Term Liabilities |
0.000 |
0.000 |
0.000 |
|
|
Decrease In |
|
|
|
|
a) |
Fixed Assets |
0.000 |
0.000 |
0.000 |
|
b) |
Other Non-Current Assets |
0.000 |
0.000 |
0.000 |
|
c) |
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
d) |
Others (Prior Period ADJ) |
0.050 |
0.000 |
0.000 |
|
|
TOTAL LONG TERM SOURCES |
98.328 |
17.361 |
22.275 |
|
|
|
|
|
|
|
|
LONG TERM USES |
|
|
|
|
1 |
Net Loss |
0.000 |
0.000 |
0.000 |
|
2 |
Decrease in Term Liabilities |
0.000 |
0.000 |
0.000 |
|
3 |
Decrease in TNW |
0.000 |
0.000 |
0.000 |
|
4 |
Dividend Payment |
0.000 |
0.000 |
0.000 |
|
|
Increase in |
|
|
|
|
a) |
In Fixed Assets |
63.710 |
0.000 |
0.000 |
|
b) |
Other Non-Current Assets |
16.800 |
0.000 |
0.000 |
|
c) |
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
d) |
Others (Prior Period ADJ) |
0.000 |
0.000 |
0.000 |
|
|
TOTAL LONG TERM USES |
80.510 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Long Term Surplus /Deficit |
178.18 |
173.61 |
222.75 |
|
|
|
|
|
|
|
|
Short Term Sources |
|
|
|
|
1 |
Increase in Current Liabilities |
23.200 |
12.100 |
8.100 |
|
2 |
Decrease in Current Assets |
0.000 |
0.000 |
0.000 |
|
3 |
Increase in Bank Borrowings |
30.000 |
0.000 |
0.000 |
|
|
Total Short Term Sources |
53.200 |
12.100 |
8.100 |
|
|
|
|
|
|
|
|
SHORT TERM USES |
|
|
|
|
1 |
Decrease in Current Liabilities |
0.000 |
0.000 |
0.000 |
|
2 |
Increase in Current Assets |
71.018 |
29.461 |
30.375 |
|
3 |
Decrease in Bank Borrowings |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Total Short Term Uses |
71.018 |
29.461 |
30.375 |
|
|
Short Term Surplus (+)/ Deficit (-) |
(17.818) |
(17.361) |
(22.275) |
------------------------------------------------------------------------------------------------------------------------------
CASH
FLOW STATEMENT
(RS. IN MILLIONS)
|
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
(Projections) |
(Projections) |
(Projections) |
|
|
SOURCES OF FUNDS |
|
|
|
|
1 |
Net Profit Before Tax Depreciation and
Interest |
24.000 |
29.980 |
37.400 |
|
2 |
Other Income |
-- |
-- |
-- |
|
3 |
Increase In Term Loans |
-- |
-- |
-- |
|
4 |
Increase In Other Term Liability |
-- |
-- |
-- |
|
5 |
Increase in Bank Borrowings |
30.000 |
-- |
-- |
|
6 |
Increase in Quasi Equity/Share Premium |
85.013 |
0.000 |
-- |
|
7 |
Increase in Other Current Liabilities |
23.200 |
12.100 |
8.100 |
|
|
TOTAL |
162.213 |
42.080 |
45.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
1 |
Capital Expenditure |
63.710 |
-- |
-- |
|
2 |
Increase in Net Current Assets |
69.700 |
29.700 |
30.300 |
|
3 |
Repayment of Term Debt |
-- |
-- |
-- |
|
4 |
Interest on Term Loan |
-- |
-- |
-- |
|
5 |
Working Capital Interest |
5.000 |
5.200 |
5.600 |
|
6 |
Investment in Subsidiaries/ Non-Current
Assets and Others |
16.800 |
-- |
-- |
|
7 |
Taxation |
5.685 |
7.419 |
9.525 |
|
8 |
Extra Ordinary Items |
-- |
-- |
-- |
|
9 |
Dividend |
-- |
-- |
-- |
|
|
TOTAL |
160.895 |
42.319 |
45.425 |
|
|
|
|
|
|
|
|
Opening Balance |
-- |
1.318 |
1.079 |
|
|
|
|
|
|
|
|
Surplus / Deficit |
1.318 |
(0.239) |
0.075 |
|
|
|
|
|
|
|
|
Closing balance as per balance sheet |
1.318 |
1.079 |
1.154 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF ASSETS AND LIABILITIES
MR.
AMAR SINESH SHAH
(RS. IN MILLIONS)
|
Liabilities |
Amount |
Assets |
Amount |
|
Bajaj Finance
Limited |
1.542 |
Cash |
0.086 |
|
Reliance Capital
Limited |
39.654 |
Bank Balance |
0.170 |
|
Sundry Payable |
0.124 |
Deposits |
0.490 |
|
Unsecured Loans |
42.834 |
Capital
Investment |
8.908 |
|
|
|
Insurance
Investment |
2.344 |
|
|
|
Shares/
Debentures |
16.889 |
|
|
|
Mutual Funds |
0.042 |
|
|
|
Bonds |
0.040 |
|
|
|
Bank of Baroda
Recurring |
0.020 |
|
|
|
P.P.F. Balance (Including
) |
1.014 |
|
|
|
Loans and
Advance |
9.253 |
|
|
|
Sundry
Receivables |
0.200 |
|
|
|
Immovable
Properties |
|
|
|
|
Land at Virar |
18.354 |
|
|
|
Flat at Venus
Tower – Andheri |
42.986 |
|
|
|
|
|
|
|
|
Other Assets |
|
|
|
|
Motor Bike |
0.081 |
|
|
|
Gold Furniture
and Other House Hold Items |
0.159 |
|
|
|
|
|
|
Total |
84.154 |
Total |
101.036 |
|
ASSETS –
LIABILITY = NETWORTH RS.101.036
MILLIONS – RS.84.154 MILLIONS = RS.16.882 MILLIONS |
|||
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
|
Name of the
Bank/ Branch |
To the Chief
Manager, Bank of India, Nariman Point Branch |
|
|
|
|
Purpose of Which
valuation is made |
To ascertain
current main market value |
|
|
|
|
Date of visit |
24.03.2014 |
|
|
|
|
Name of the
owner |
Mr. Amar Dinesh
Shah |
|
|
|
|
If the property is
under Joint ownership/ co-ownership, share of each such purchaser are the
shares undivided |
Sole Ownership |
|
|
|
|
Brief
description of the Property |
Commercial |
|
|
|
|
Property Address |
Shop No.101, 1st
Floor, Venus Tower, Above Axis Bank, Azad Nagar Road No.2, Off. Veera Desai
Road, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
|
|
|
Survey/ Plot No.
of Land |
Survey No.
133(pt.) and CTS No.837 (pt.), Off Veera Desai Road, Andheri (West), Mumbai.
Maharashtra, India |
|
|
|
|
Is the property
situated in residential./ commercial/ mixed area/ industrial |
Commercial |
|
|
|
|
Classification
of locality high class |
Middle Class |
|
|
|
|
Proximity to civic
amenities like schools, hospitals, offices, market cinemas |
Civic amenities
available within 10 mins |
|
|
|
|
Means and
Proximity to surface communication by which |
Buses, Taxi, Auto
Rickshaw, Train Approximately 1.5 km distance from Andheri (West) Railway
Station |
|
|
|
|
Property Bounded
As |
North: Minu
Minar Building South: Dominos East: Road West: A wing |
|
|
|
|
Landmark |
Near Andheri
Sports Club |
|
|
|
|
Area of Property
|
Carpet Area =
1292 sq. ft. Saleable Area =
2067 sq. ft. |
|
|
|
|
Whether owner
occupied or tenant occupied |
At present not
occupied |
|
|
|
|
Roads, Streets
or Lanes on which the land abutting. |
Veera Desai Road
|
|
|
|
|
Does the land
fall in an area included in any Town planning scheme or any development plan
of Government or any statutory body? If so, Given particulars. |
K/W Ward in BMC
Limits |
|
|
|
|
IMPROVEMENTS |
|
|
Document
inspected and perused |
C.C. Agreement
of sale dated 24.09.2012 between M/s. Milind Developers 1st part
and Mr. Amar Dinesh Shah, 2nd Part (As per agreement 1292 sq. ft.
Carpet Area) |
|
|
|
|
Give details of
water and electricity charges, if any, to be borne by the owner. |
Owner bear the
cost |
|
|
|
|
Has the tenant
to bear the whole or part of the cost of repairs and maintenance? Particulars
|
Owner bear the
cost |
|
|
|
|
If
a lift is installed, who has to bear the cost of maintenance and operation
owner or tenant? |
Owner bear the
cost |
|
|
|
|
If
a pump is installed, who has to bear the cost of maintenance and operation
owner or tenant? |
Owner bear the
cost |
|
|
|
|
Who
has to bear the cost of electricity charges for lighting of common space like
entrance hall, stairs, passages, compound, etc. owner of tenant? |
Owner bear the
cost |
|
|
|
|
What
is the amount of property tax? Who is to bear is? Give details with
documentary proof. |
Owner bear the
cost |
|
|
|
|
VALUATION |
|
|
Comparable
sale value (in the vicinity) |
Rs.0.019 Million to Rs.0.024 Million |
|
|
|
|
Estimated fair market rate |
Rs.0.023 Millions |
|
|
|
|
Estimated fair market value |
2067 Sq. ft. x Rs.23000/- = Rs.47.541
Millions |
|
|
|
|
Estimated
Realizable/ Distress Value |
Rs.47.541 x 90% = Rs.42.787 Millions |
|
|
|
|
Remarks
Reinstatement Value of the flat for insurance purposes only |
Saleable Area x
Reinstatement Value 2067 sq. fy. X
Rs.0.003 Million = Rs.5.168 Millions |
|
|
|
|
Current Government
approved value |
Built up area
1500 sq, ft. + Rs.0.017 = 25.617 Millions
|
|
|
|
|
TECHNICAL
DETAILS |
|
|
No of Floors |
Stilt + 13 Upper
Floors |
|
|
|
|
No of Lift |
02 |
|
|
|
|
Floor in which
the shop is situated |
1st
Floor |
|
|
|
|
Type of Property
|
Shop |
|
|
|
|
Year of
Construction |
---- |
|
|
|
|
Age of Building |
02 years Old |
|
|
|
|
Estimated future
lift |
58 year (Subject
to proper care and maintenance) |
|
|
|
|
Value purchases
price paid |
---- |
|
|
|
|
No. of Shop on
each floor |
04 |
|
|
|
|
Type of
Construction |
RCC Frame
Structure |
|
|
|
|
Amenities/ Extra
Fittings |
Ceramic
Flooring, Concealed Wiring, Wooden Main Door |
|
|
|
|
Remark |
---- |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
|
Name of the
Bank/ Branch |
To the Chief Manager,
Bank of India, Nariman Point Branch |
|
|
|
|
Purpose of Which
valuation is made |
To ascertain
current main market value |
|
|
|
|
Date of visit |
24.03.2014 |
|
|
|
|
Name of the
owner |
Mr. Amar Dinesh
Shah |
|
|
|
|
If the property is
under Joint ownership/ co-ownership, share of each such purchaser are the
shares undivided |
Sole Ownership |
|
|
|
|
Brief
description of the Property |
Commercial |
|
|
|
|
Property Address |
Shop No.102, 1st
Floor, Venus Tower, Above Axis Bank, Azad Nagar Road No.2, Off. Veera Desai
Road, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
|
|
|
Survey/ Plot No.
of Land |
Survey No.
133(pt.) and CTS No.837 (pt.), Off Veera Desai Road, Andheri (West), Mumbai.
Maharashtra, India |
|
|
|
|
Is the property
situated in residential./ commercial/ mixed area/ industrial |
Commercial |
|
|
|
|
Classification
of locality high class |
Middle Class |
|
|
|
|
Proximity to
civic amenities like schools, hospitals, offices, market cinemas |
Civic amenities
available within 10 mins |
|
|
|
|
Means and
Proximity to surface communication by which |
Buses, Taxi, Auto
Rickshaw, Train Approximately 1.5 km distance from Andheri (West) Railway
Station |
|
|
|
|
Property Bounded
As |
North: Minu
Minar Building South: Dominos East: Road West: A wing |
|
|
|
|
Landmark |
Near Andheri
Sports Club |
|
|
|
|
Area of Property
|
Carpet Area =
607 sq. ft. Saleable Area =
971 sq. ft. |
|
|
|
|
Whether owner
occupied or tenant occupied |
At present not
occupied |
|
|
|
|
Roads, Streets
or Lanes on which the land abutting. |
Veera Desai Road
|
|
|
|
|
Does the land
fall in an area included in any Town planning scheme or any development plan
of Government or any statutory body? If so, Given particulars. |
K/W Ward in BMC
Limits |
|
|
|
|
IMPROVEMENTS |
|
|
Document
inspected and perused |
C.C. Agreement
of sale dated 24.09.2012 between M/s. Milind Developers and Mr. Amar Dinesh
Shah (As per
agreement 607 sq. ft. Carpet Area) |
|
|
|
|
Give details of
water and electricity charges, if any, to be borne by the owner. |
Owner bear the
cost |
|
|
|
|
Has the tenant
to bear the whole or part of the cost of repairs and maintenance? Particulars
|
Owner bear the
cost |
|
|
|
|
If
a lift is installed, who has to bear the cost of maintenance and operation
owner or tenant? |
Owner bear the
cost |
|
|
|
|
If
a pump is installed, who has to bear the cost of maintenance and operation
owner or tenant? |
Owner bear the
cost |
|
|
|
|
Who
has to bear the cost of electricity charges for lighting of common space like
entrance hall, stairs, passages, compound, etc. owner of tenant? |
Owner bear the
cost |
|
|
|
|
What
is the amount of property tax? Who is to bear is? Give details with
documentary proof. |
Owner bear the
cost |
|
|
|
|
VALUATION |
|
|
Comparable
sale value (in the vicinity) |
Rs.0.019 Million to Rs.0.024 Million |
|
|
|
|
Estimated fair market rate |
Rs.0.023 Millions |
|
|
|
|
Estimated fair market value |
971 Sq. ft. x Rs.0.023 Million = Rs.23.333
Millions |
|
|
|
|
Estimated
Realizable/ Distress Value |
Rs.22.333 x 90% = Rs.20.100 Millions |
|
|
|
|
Remarks
Reinstatement Value of the flat for insurance purposes only |
Saleable Area x
Reinstatement Value 971 sq. ft. x
Rs.0.003 Million = Rs.2.428 Millions |
|
|
|
|
Current
Government approved value |
Built up area
728 sq. ft. x Rs.0.017 Million = Rs.12.032 Millions |
|
|
|
|
TECHNICAL
DETAILS |
|
|
No of Floors |
Stilt + 13 Upper
Floors |
|
|
|
|
No of Lift |
02 |
|
|
|
|
Floor in which
the shop is situated |
1st
Floor |
|
|
|
|
Type of Property
|
Shop |
|
|
|
|
Year of
Construction |
---- |
|
|
|
|
Age of Building |
02 years Old |
|
|
|
|
Estimated future
lift |
58 year (Subject
to proper care and maintenance) |
|
|
|
|
Value purchases
price paid |
---- |
|
|
|
|
No. of Shop on
each floor |
04 |
|
|
|
|
Type of
Construction |
RCC Frame
Structure |
|
|
|
|
Amenities/ Extra
Fittings |
Ceramic
Flooring, Concealed Wiring, Wooden Main Door |
|
|
|
|
Remark |
---- |
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.61.02 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.