MIRA
INFORM REPORT
|
Report Date : |
29.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHRI MANOHAR BALKRISHNA JATHAR |
|
|
|
|
Registered
Office : |
House No. 2147, Gat No. 634 Hatkanangale – |
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Country : |
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Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of
Establishment : |
2002 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.416 Millions |
|
|
|
|
IEC No.: |
3102002412 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
PAN No.: [Permanent Account No.] |
ABAPJ6646E |
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|
Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Manufacturer of Fabrics |
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|
No. of Employees
: |
6 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 58000 |
|
|
|
|
Status : |
Small Concern |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a small proprietary concern in its field. Its scale of
activities are limited. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The concern can be considered for small business dealings 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
Not Available
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. Satish Jathar |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9822260643 |
|
Date : |
22.12.2014 |
LOCATIONS
|
Registered Office / Factory : |
House No. 2147, Gat No. 634 Hatkanangale – |
|
Tel. No.: |
91-230-2422025 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
SOLE PROPRIETOR
|
Name : |
Mr. Manohar Balkrishna Jathar |
|
Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. Satish Jathar |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Fabrics |
|
|
|
|
Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Machinery |
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Countries : |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
6 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
N.D. Jaju and Company Chartered Accountants |
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|
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Memberships : |
Not Divulged |
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|
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Collaborators : |
Not Divulged |
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Group Companies : |
Shri Satish Manohar Jathar Sou Shubhangi Vishnu Jathar Sou Geeta Sachin Jathar SOU Vasanti Manohar Jathar Shri Deepak Manohar Jathar |
CAPITAL STRUCTURE
As on 31.03.2014
M/S SHRI AMIT
SIZERS, ICHALKARANJI
|
|
|
|
|
|
To Balance B/D |
0.356 |
By Shares of Tax : A.Y. 2013-2014 |
0.006 |
|
To Share of Profit |
0.018 |
By Balance C/F |
0.368 |
|
|
0.374 |
|
0.374 |
SHRI ADITYA WARPERS,
ICHALKARANJI
|
|
|
|
|
|
To Balance B/D |
1.598 |
By Shares of Tax : A.Y. 2012-2013 |
0.038 |
|
To Interest on Capital |
0.188 |
|
|
|
To Salary |
0.591 |
|
|
|
To Share of Profit |
0.318 |
By Balance C/F |
2.657 |
|
|
2.695 |
|
2.695 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
20.416 |
18.584 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
20.416 |
18.584 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.070 |
|
|
TOTAL BORROWING |
|
0.000 |
0.070 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
20.416 |
18.654 |
|
|
|
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|
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APPLICATION OF FUNDS |
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|
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|
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|
FIXED ASSETS [Net Block] |
|
5.587 |
5.672 |
|
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Capital work-in-progress |
|
0.000 |
0.000 |
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|
|
|
|
|
|
|
INVESTMENT |
|
12.559 |
10.866 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.035 |
0.134 |
|
|
Sundry Debtors |
|
0.389 |
0.193 |
|
|
Cash & Bank Balances |
|
0.334 |
0.086 |
|
|
Other Current Assets |
|
0.190 |
0.141 |
|
|
Loans & Advances |
|
2.257 |
3.202 |
|
Total
Current Assets |
|
3.205 |
3.756 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.000 |
0.706 |
|
|
Other Current Liabilities |
|
0.860 |
0.860 |
|
|
Provisions |
|
0.075 |
0.074 |
|
Total
Current Liabilities |
|
0.935 |
1.640 |
|
|
Net Current Assets |
|
2.270 |
2.116 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
20.416 |
18.654 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
1.724 |
1.579 |
|
|
Other Income |
|
0.669 |
0.747 |
|
|
TOTAL |
|
2.393 |
2.326 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Closing Stock |
|
0.035 |
0.134 |
|
|
Bank Commission and
Charges |
|
0.002 |
0.001 |
|
|
Bonus, Leave Pay and
Bonus |
|
0.026 |
0.051 |
|
|
Consultation Fees |
|
0.001 |
0.001 |
|
|
Office Expenses |
|
0.012 |
0.018 |
|
|
Office Salary |
|
0.013 |
0.013 |
|
|
Petrol and Vehicle
Expenses |
|
0.096 |
0.023 |
|
|
Printing and Stationery |
|
0.001 |
0.000 |
|
|
Profession Tax |
|
0.003 |
0.003 |
|
|
Telephone Charges |
|
0.014 |
0.019 |
|
|
Other expenses |
|
1.250 |
1.091 |
|
|
TOTAL |
|
1.453 |
1.354 |
|
|
|
|
|
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|
PROFIT / (LOSS) BEFORE
DEPRECIATION AND AMORTISATION |
|
0.940 |
0.972 |
|
|
|
|
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|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.085 |
0.099 |
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.855 |
0.873 |
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
49.59
|
55.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
9.72
|
9.26 |
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.04
|
0.05 |
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|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.00
|
0.00 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.43
|
2.29 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1.579 |
1.724 |
|
|
|
9.183 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1.579 |
1.724 |
|
Profit |
0.873 |
0.855 |
|
|
55.29% |
49.59% |
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 |
No |
|
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 years |
Yes |
|
13] |
Reasons for
variation <> 20% |
-------------------- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
Yes |
|
20] |
Export /
Import details (if applicable) |
Yes |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
---------------------- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
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] |
Date of Birth
of Proprietor/Partner/Director, if available |
No |
|
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 |
FIXED ASSETS
·
Land and Building
·
Plot
·
Plant and Machinery
·
Office equipment
·
Vehicle
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. 63.63 |
|
|
1 |
Rs. 98.97 |
|
Euro |
1 |
Rs. 77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.