MIRA INFORM REPORT
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Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
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Name : |
SUMIT EXIM PRIVATE LIMITED |
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Registered
Office : |
320, Daulat Bhavan, 407, Kalbadevi Road, Mumbai – 400 002, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
19.04.2000 |
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Com. Reg. No.: |
11-125958 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100
Million |
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CIN No.: [Company Identification
No.] |
U51900MH2000PTC125958 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Fabrics. |
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No. of Employees
: |
6 (Approximately) |
ECGC Country Risk Classification List – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the Companies
Act is the latest manifestation of a messy fight between a father and his
adopted son for the control of Rs 40000 mn business empire. The Central Bureau
of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as
bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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 DENIED BY
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Name : |
Mr. Arjun |
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Designation : |
Accountant |
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Contact No.: |
91-22-22078197 |
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Date : |
16.10.2014 |
LOCATIONS
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Registered Office : |
320, Daulat Bhavan, 407, Kalbadevi Road, Mumbai – 400 002,
Maharashtra, India |
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Tel. No.: |
91-22-22078197 |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
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Name : |
Mr. Deepakkumar Shrigopal Agrawal |
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Designation : |
Director |
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Address : |
36/1302, Subhash Nagar, Chembur, Mumbai – 400 071, Maharashtra, India |
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Date of Birth/Age : |
30.10.1959 |
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Date of Appointment : |
19.04.2000 |
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DIN No.: |
01621216 |
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Other Directorship:
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Name : |
Mr. Vishwanath Prasadrao Balijepalli |
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Designation : |
Director |
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Address : |
14/221, Adarsh Nagar, Worli, Mumbai – 400 025, Maharashtra, India |
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Date of Birth/Age : |
02.01.1959 |
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Date of Appointment : |
20.09.2001 |
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DIN No.: |
01621241 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Arjun |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
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Deepakkumar Shrigopal Agrawal |
5000 |
50.00 |
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Vishwanath Prasadrao Balijepalli |
5000 |
50.00 |
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Total
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10000 |
100.00 |
%2002-Dec-2014_files/image002.gif)
AS ON 30.09.2013
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Fabrics. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
Axis Bank Limited, Fort, Mumbai, Maharashtra, India (Contact No.:
91-22-40867324) |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Prashant S. Mehta and Associates Chartered Accountants |
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Address : |
201, Reddy's Shree Shiv Datta, Station Road, Goregaon (West), Mumbai –
400 062, Maharashtra, India |
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Mobile No.: |
91-9820038268 |
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PAN No.: |
AAFPM0644M |
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Enterprises over which management personnel and their relatives are
able to exercise significant influence : |
v Beautiful Fabric
Fashions Private Limited v Beevee Clothings
Private Limited v Kripa Textile
Private Limited v Raimaladitya
Textile Private Limited v Parikrama
Textile Private Limited v Deepjyoti
Textile Traders Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs.10/- each
|
Rs.0.100
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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I.
EQUITY AND LIABILITIES |
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(1) Shareholders' Funds |
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(a) Share Capital |
0.100 |
0.100 |
0.100 |
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(b) Reserves & Surplus |
6.636 |
4.959 |
3.455 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
6.736 |
5.059 |
3.555 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
800.000 |
690.962 |
631.800 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
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(d)
Long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
800.000 |
690.962 |
631.800 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b)
Trade payables |
38.325 |
130.599 |
105.850 |
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(c)
Other current liabilities |
78.935 |
129.043 |
89.065 |
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(d)
Short-term provisions |
0.750 |
0.913 |
0.108 |
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Total
Current Liabilities (4) |
118.010 |
260.555 |
195.023 |
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TOTAL |
924.746 |
956.576 |
830.378 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i)
Tangible assets |
0.001 |
0.001 |
0.001 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
789.845 |
684.400 |
634.400 |
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(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
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Total
Non-Current Assets |
789.846 |
684.401 |
634.401 |
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(2) Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
50.305 |
131.737 |
106.175 |
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(d)
Cash and cash equivalents |
0.197 |
0.112 |
0.489 |
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(e)
Short-term loans and advances |
0.075 |
0.087 |
0.002 |
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(f)
Other current assets |
84.323 |
140.239 |
89.311 |
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Total
Current Assets |
134.900 |
272.175 |
195.977 |
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TOTAL |
924.746 |
956.576 |
830.378 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Revenue from operations |
419.886 |
367.101 |
154.638 |
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Other Income |
80.195 |
51.038 |
89.311 |
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TOTAL (A) |
500.081 |
418.139 |
243.949 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-Trade |
418.017 |
365.544 |
154.052 |
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Employee benefit expense |
0.465 |
0.488 |
0.429 |
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|
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Other expenses |
0.264 |
0.269 |
0.076 |
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TOTAL (B) |
418.746 |
366.301 |
154.557 |
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|
|
|
|
|
|
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Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
81.335 |
51.838 |
89.392 |
|
|
|
|
|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
78.909 |
49.418 |
89.040 |
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|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.426 |
2.420 |
0.352 |
|
|
|
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|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
2.426 |
2.420 |
0.352 |
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Less |
TAX (H) |
0.750 |
0.916 |
0.108 |
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PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.676 |
1.504 |
0.244 |
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Earnings /
(Loss) Per Share (Rs.) |
167.63 |
150.44 |
24.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.34
|
0.36 |
0.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.58
|
0.66 |
0.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.26
|
0.25 |
0.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.48 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
118.76
|
136.58 |
177.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.04 |
1.00 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
3.455 |
4.959 |
6.636 |
|
Net worth |
3.555 |
5.059 |
6.736 |
|
|
|
|
|
|
long-term borrowings |
631.800 |
690.962 |
800.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
631.800 |
690.962 |
800.000 |
|
Debt/Equity ratio |
177.722 |
136.581 |
118.765 |
%2002-Dec-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
154.638 |
367.101 |
419.886 |
|
|
|
137.394 |
14.379 |
%2002-Dec-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
154.638 |
367.101 |
419.886 |
|
Profit |
0.244 |
1.504 |
1.676 |
|
|
0.16% |
0.41% |
0.40% |
%2002-Dec-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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) |
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 |
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 |
UNSECURED LOANS
|
Particular |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Inter-corporate Deposit |
800.000 |
690.962 |
|
|
|
|
|
Total
|
800.000 |
690.962 |
INDEX OF CHARGES
No Charges Exist for Company.
OPERATIONS:
During the year,
the company has achieved a turnover of Rs.419.800 millions and made a profit of
Rs.1.676 millions after making provision for tax. The company is hopeful of
achieving better performance in the next year.
FIXED ASSETS:
Tangible Assets
·
Computer and Peripherals
·
Furniture
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 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.62.14 |
|
|
1 |
Rs.97.05 |
|
Euro |
1 |
Rs. 77.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.