|
Report Date : |
13.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
POOJA TECHNOCAST |
|
|
|
|
Registered
Office : |
Survey No.259, Plot No.1, Behind Best Agro Food, Opposite Prevail Casting,
Village: Shapar (Veraval), Taluka: Kotada Sangani, District Rajkot – 360 024,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
2006 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.29.619 millions |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Automobile, Tractors and Agricultural
Products. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 118000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track record. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million
in September, 2012, according to Deloitte report. The number of transactions
has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Hiren Pithadiya |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9979852255 |
|
Date : |
21.07.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Survey No.259, Plot No.1, Behind Best Agro Food, Opposite Prevail Casting,
Village: Shapar (Veraval), Taluka: Kotada Sangani, District Rajkot – 360 024,
Gujarat, India |
|
Tel. No.: |
91-2827-293939/ 293333 |
|
Mobile No.: |
91-9825420831 (Mr. Kirit Moliya) 91-9979852255 (Mr. Hiren Pithadiya) |
|
Fax No.: |
91-281-2389182 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
100000 sq. ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Kirit Babubhai Moliya |
|
Designation : |
Partner |
|
Address : |
106, Mehul Nagar – 5, Kotharia Road, Behind Nilkantha Talkies, Rajkot,
Gujarat, India |
|
Date of Birth/ Age : |
36 Years |
|
Voter ID No.: |
JWH2821874 |
|
|
|
|
Name : |
Mr. Bhavesh Babubhai Moliya |
|
Designation : |
Partner |
|
Address : |
106, Mehul Nagar – 5, Kotharia Road, Behind Nilkantha Talkies, Rajkot,
Gujarat, India |
|
Date of Birth/ Age : |
35 Years |
|
Voter ID No.: |
JWH2821692 |
|
|
|
|
Name : |
Mr. Vashram Ranchodbhai Moliya |
|
Designation : |
Partner |
|
Address : |
106, Mehul Nagar – 5, Kotharia Road, Behind Nilkantha Talkies, Rajkot,
Gujarat, India |
|
Date of Birth/ Age : |
49 Years |
|
Voter ID No.: |
GJ/04/017/531817 |
|
|
|
|
Name : |
Mr. Makanbhai Ranchodbhai Moliya |
|
Designation : |
Partner |
|
Address : |
69, Old Gamtal, Mahika, Rajkot, Gujarat, India |
|
Date of Birth/ Age : |
52 Years |
|
Voter ID No.: |
GJ/02/015/531819 |
KEY EXECUTIVES
|
Name : |
Mr. Hiren Pithadiya |
|
Designation : |
Accounts Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Automobile, Tractors and Agricultural
Products. |
|
|
|
|
Exports : |
|
|
Products : |
·
Machines |
|
Countries : |
·
Italy ·
Germany |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Materials |
|
Countries : |
·
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Pankaj Steel |
|
|
|
|
Customers : |
Wholesalers and Retailers ·
TAFE Motors and Tractors
Limited Contact Person: Mr. Sachin Dhote Mobile No.: 91-9302612141 Reported: He rated company as very good. |
|
|
|
|
No. of Employees : |
350 (Approximately) |
|
|
|
|
Bankers : |
· Bank of India, Rajkot, Gujarat, India Tel. No.: 91-281-2231788 Contact Person: Mr. K.M. Patel (Credit Manager) Banker Report: He informed that they are our best client. He rated company as very good. · HDFC Bank Limited, Rajkot, Gujarat, India |
|
|
|
|
Facilities : |
Term Loan – Rs.25.000 millions and Cash Credit - Rs.35.000 millions
(From Bank of India) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M.B. Sardhara and Associates Chartered Accountants |
|
Address : |
Rajkot, Gujarat, India |
CAPITAL STRUCTURE
AS ON 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs.29.619 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.29.619 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Expected Sales (2013-2014): Rs.300.000 millions
The above information has been parted by Mr. Hiren Pithadiya (Accounts
Manager).
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
29.619 |
23.565 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
29.619 |
23.565 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
67.433 |
64.400 |
|
|
2] Unsecured Loans |
|
32.784 |
18.732 |
|
|
TOTAL BORROWING |
|
100.217 |
83.132 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
129.836 |
106.697 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
47.523 |
49.490 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
26.327 |
15.517 |
|
|
Sundry Debtors |
|
51.784 |
33.157 |
|
|
Cash & Bank Balances |
|
0.007 |
0.969 |
|
|
Other Current Assets |
|
9.887 |
13.531 |
|
|
Loans, Advances and Deposits |
|
4.318 |
4.318 |
|
Total
Current Assets |
|
92.323 |
67.492 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
8.373 |
10.030 |
|
|
Other Current Liabilities |
|
1.399 |
0.290 |
|
|
Provisions |
|
0.786 |
0.695 |
|
Total
Current Liabilities |
|
10.558 |
11.015 |
|
|
Net Current Assets |
|
81.765 |
56.477 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.548 |
0.730 |
|
|
|
|
|
|
|
|
TOTAL |
|
129.836 |
106.697 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
215.677 |
153.949 |
|
|
|
Other Income |
|
0.784 |
0.270 |
|
|
|
TOTAL |
|
216.461 |
154.219 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
152.565 |
99.940 |
|
|
|
Clearing and Handling Charges |
|
1.051 |
0.000 |
|
|
|
Transport and Freight Expenses |
|
6.252 |
6.080 |
|
|
|
Electricity Expenses |
|
26.974 |
20.457 |
|
|
|
Office Salary Expenses |
|
0.639 |
0.530 |
|
|
|
Repair and Maintenance Charges |
|
0.143 |
0.079 |
|
|
|
Salary to Partners |
|
0.300 |
0.150 |
|
|
|
Interest to Partners |
|
2.881 |
0.923 |
|
|
|
Other Expenses |
|
15.389 |
10.938 |
|
|
|
TOTAL |
|
206.194 |
139.097 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
10.267 |
15.122 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
7.560 |
7.240 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) |
|
2.707 |
7.882 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
1.25 |
5.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
1.26 |
5.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.94 |
6.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.09 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
3.38 |
3.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
8.74 |
6.13 |
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last two 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 |
Yes |
|
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 |
Yes |
|
34)
External Agency Rating, if available |
No |
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.61.94 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
47 |
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.