|
Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZYMO COSMETICS |
|
|
|
|
Registered
Office : |
Block No.115, Opposite Harihar Mahadev Temple, Santej Vadsar Road, Santej,
Taluka Kalol, District Gandhinagar – 382 721, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.06.2009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 12.251 Millions |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Cosmetics, Toiletry and Beauty Products. |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 49000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track record. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The concern can be considered for business dealing 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
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. Tarak Patel |
|
Designation : |
Marketing Executive |
|
Contact No.: |
91-9925151701 |
|
Date : |
29.01.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Block No.115, Opposite Harihar Mahadev Temple, Santej Vadsar Road, Santej,
Taluka Kalol, District Gandhinagar – 382 721, Gujarat, India |
|
Tel. No.: |
91-2764-268088 |
|
Mobile No.: |
91-9925151701 (Mr. Tarak Patel) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 sq. ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Ankit Natvarlal Patel |
|
Designation : |
Partner |
|
Address : |
14, Uma Society, Near Umiyamata Temple, Unjha – 384 170, District
Mehsana, Gujarat, India |
|
Date of Birth/Age : |
02.06.1978 |
|
Qualification : |
B. Pharma. |
|
|
|
|
Name : |
Mr. Chaitanya Vikrambhai Patel |
|
Designation : |
Partner |
|
Address : |
33, Vrundavan Bungalows, Near C.K. Kanya Vidyalaya, Gulab Tower Road,
Thaltej, Ahmedabad – 380 061, Gujarat, India |
|
Date of Birth/Age : |
23.01.1980 |
|
Qualification : |
B. Com |
|
|
|
|
Name : |
Mr. Bharatbhai Chunilal Patel |
|
Designation : |
Partner |
|
Address : |
23, Vrundavan Bungalows, Near C.K. Kanya Vidyalaya, Gulab Tower Road,
Thaltej, Ahmedabad – 380 061, Gujarat, India |
|
Date of Birth/Age : |
22.03.1960 |
|
Qualification : |
B.Sc. |
|
|
|
|
Name : |
Mr. Natvarlal Shivramdas Patel |
|
Designation : |
Partner |
|
Address : |
14, Uma Society, Near Umiyamata Temple, Unjha – 384 170, District
Mehsana, Gujarat, India |
|
Date of Birth/Age : |
26.11.1955 |
|
|
|
|
Name : |
Mrs. Hetal Chaitanya Patel |
|
Designation : |
Partner |
|
Address : |
33 Vrundavan Bungalows, Near C.K. Kanya Vidyalaya, Gulab Tower Road,
Thaltej, Ahmedabad – 380 061, Gujarat, India |
|
Date of Birth/Age : |
31.07.1981 |
|
|
|
|
Name : |
Mrs. Manjari Tarak Patel |
|
Designation : |
Partner |
|
Address : |
14, Uma Society, Near Umiyamata Temple, Unjha – 384 170, District
Mehsana, Gujarat, India |
|
Date of Birth/Age : |
16.11.1987 |
KEY EXECUTIVES
|
Name : |
Mr. Tarak Patel |
|
Designation : |
Marketing Executive |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cosmetics, Toiletry and Beauty Products. |
|
|
|
|
Products : |
·
Skin Whitening Cream (Kojic Acid, Arbutin,
Vitamin C, Glycolic Acid etc.) ·
Sun Screen Cream / Lotion / Gel ·
Anti Ageing Cream / Gel ·
Skin Lightening Cream (2% Hydroquinone) ·
Fairness Cream / Gel ·
Body Lotion / Cream ·
Moisturizing (Cold) Cream / Lotion ·
Apricot / Walnut Scrub ·
Face Wash ·
Body Wash / Gel ·
Hand Wash ·
Shaving Cream / Gel ·
Toothpaste (White, Gel, Herbal, Tartar
Control, Soda Bicarbonate, Kid's) ·
Natural Toothpaste
·
Shampoo ·
Hair Conditioner
·
Hair Relaxer Cream
·
Hair Food / Pomade
·
Hair Serum ·
Hair Styling Gel / Cream ·
Baby Products (Shampoo, Massage Oil / Cream,
Hair Oil) ·
Herbal Products (Shampoo, Toothpaste, Fairness
Cream / Lotion) ·
Hair Oil |
|
|
|
|
Exports : |
|
|
Products : |
·
Cosmetics ·
Toiletry ·
Beauty Products |
|
Countries : |
·
Nepal ·
Philippines ·
Nigeria ·
Yemen |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Shah
Agency, Ahmedabad (Mr. Chandrakant – Contact No.: 91-9825244082) |
|
|
|
|
Customers : |
Retailers and End Users ·
Ethicare
Remedies, Rajkot (Mr. Ilesh Kahkar – Contact No.: 91-9879522210) |
|
|
|
|
No. of Employees : |
35 (Approximately) |
|
|
|
|
Bankers : |
Punjab National Bank, Sola Road, Ahmedabad, Gujarat, India |
|
|
|
|
Facilities : |
Cash Credit – Rs.3.000 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V.V. Patel and Company Chartered Accountants |
|
Address : |
101, 1st Floor, Shanti Arcade, 132 Ft. Ring Road, Near Akash-III,
Naranpura, Ahmedabad – 380 013,
Gujarat, India |
|
Tel. No.: |
91-79-27430594 |
|
Fax No.: |
91-79-27430595 |
|
E-Mail : |
CAPITAL STRUCTURE
As on: 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs. 12.251 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 12.251 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
12.251 |
4.149 |
|
(b) Reserves & Surplus |
|
0.000 |
0.000 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
12.251 |
4.149 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
10.021 |
10.217 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
10.021 |
10.217 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2.474 |
0.000 |
|
(b) Trade payables |
|
5.135 |
4.874 |
|
(c) Other current liabilities |
|
2.939 |
3.011 |
|
(d) Short-term provisions |
|
0.000 |
0.189 |
|
Total Current Liabilities (4) |
|
10.548 |
8.074 |
|
|
|
|
|
|
TOTAL |
|
32.820 |
22.440 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
14.607 |
10.289 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.832 |
2.148 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
17.439 |
12.437 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
6.388 |
6.976 |
|
(c) Trade receivables |
|
7.149 |
2.509 |
|
(d) Cash and cash equivalents |
|
0.020 |
0.181 |
|
(e) Short-term loans and advances |
|
1.824 |
0.337 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
15.381 |
10.003 |
|
|
|
|
|
|
TOTAL |
|
32.820 |
22.440 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
68.713 |
23.836 |
|
|
|
Other Income |
|
0.467 |
0.966 |
|
|
|
TOTAL |
|
69.180 |
24.802 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
|
43.340 |
18.442 |
|
|
|
Changes in inventories |
|
(0.025) |
(2.465) |
|
|
|
Employee benefit expenses |
|
1.887 |
1.386 |
|
|
|
Commission and Brokerage |
|
3.523 |
0.0000 |
|
|
|
Other expenses |
|
13.188 |
2.889 |
|
|
|
TOTAL |
|
61.913 |
20.252 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
7.267 |
4.550 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
1.424 |
1.623 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
5.843 |
2.927 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.630 |
1.307 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
4.213 |
1.620 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
15.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.70.000 millions
The above information has been parted by Mr. Tarak Patel (Marketing
Executive)
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
6.09 |
6.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
6.13 |
6.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
12.83 |
7.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.35 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.01 |
2.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.46 |
1.23 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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] |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
TRADE REFERENCES:
·
Ethicare
Remedies, Rajkot
· Shah Agency, Ahmedabad
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. 62.48 |
|
|
1 |
Rs. 102.95 |
|
Euro |
1 |
Rs. 84.60 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.