|
Report Date : |
17.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHREEJI SALES COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
701 B, Nilesh Apartment, Haridas Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.10.1996 |
|
|
|
|
Com. Reg. No.: |
11-103125 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.428 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1996PTC103125 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS36558E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS6918O |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Tiles and Sanitary Ware. |
|
|
|
|
No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2300 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appears some accumulated losses recorded by the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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.
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 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 (General Details)
|
Name : |
Mr. Prakash H. Kothari |
|
Designation : |
Director |
|
Contact No.: |
91-22-22654762 |
|
Date : |
17.01.2014 |
LOCATIONS
|
Registered Office : |
701 B, Nilesh Apartment, Haridas Nagar, Shimpoli Road, Borivali
(West), Mumbai – 400092, Maharashtra, India |
|
Tel. No.: |
91-22-22654762 |
|
Fax No.: |
91-22-23530048 |
|
E-Mail : |
|
|
Area : |
600 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Warehouse : |
Located at: Vashi, Navi Mumbai, Maharashtra, India |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Prakash Hiralal Kothari |
|
Designation : |
Director |
|
Address : |
1/16, Navrang, |
|
Date of Birth/Age : |
28.01.1951 |
|
Date of Appointment : |
17.10.1996 |
|
DIN No.: |
00283663 |
|
|
|
|
Name : |
Mr. Kailash Prakash Kothari |
|
Designation : |
Director |
|
Address : |
1/16, Navrang, |
|
Date of Birth/Age : |
28.01.1951 |
|
Date of Appointment : |
17.10.1996 |
|
DIN No.: |
00283746 |
|
|
|
|
Name : |
Ms. Dixita Prakash Kothari |
|
Designation : |
Director |
|
Address : |
1/16, Navrang, |
|
Date of Birth/Age : |
17.10.1980 |
|
Date of Appointment : |
17.10.1999 |
|
DIN No.: |
00283789 |
|
|
|
|
Name : |
Mr. Mohit Kothari |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Prakash Hiralal Kothari |
|
72690 |
|
Kailash Prakash Kothari |
|
16620 |
|
Dixita Prakash Kothari |
|
25320 |
|
Mohit Kothari |
|
13410 |
|
Prakash Kothari (HUF) |
|
14720 |
|
|
|
|
|
Total |
|
142760 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Tiles and Sanitary Ware. |
|
|
|
|
Imports : |
|
|
Products : |
Ceramic Tiles and Sanitary Ware |
|
Countries : |
· Italy · Spain · China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
L/C and Credit, TT |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
4 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· The Cosmos Co-operative Bank Limited Zaveri Bazar Branch, Mumbai, Maharashtra, India · The Cosmos Co-operative Bank Limited 269/270 Shaniwar Peth, Pune, Maharashtra - 411030, India · Bank of Baroda Fort, Maharashtra, India · HDFC Bank · ICICI Bank |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Anil and Associates Chartered Accountants |
|
Address : |
32/34, Damodar Niwas, Block No.12, 2nd Floor, C. P. Tank Road,
Mumbai – 400004, Maharashtra, India |
|
PAN No.: |
AAGFM5242C |
|
|
|
|
Name : |
Mukesh P. Shah and Company Chartered Accountants |
|
Address : |
32/34, Damodar Niwas, Block No.12, 2nd Floor, C. P. Tank
Road, Mumbai – 400004, Maharashtra, India |
|
Tel No.: |
91-22-23886293/ 23822633 |
|
Fax No.: |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Share |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
142760 |
Equity Share |
Rs.10/- each |
Rs.1.427
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
1.428 |
1.428 |
1.428 |
|
(b) Reserves & Surplus |
(0.855) |
(0.927) |
(0.996) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
0.573 |
0.501 |
0.432 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.308 |
0.512 |
0.225 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.020 |
0.025 |
0.070 |
|
Total Non-current Liabilities (3) |
0.328 |
0.537 |
0.295 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7.919 |
8.053 |
5.701 |
|
(b) Trade payables |
3.410 |
2.675 |
4.091 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
11.329 |
10.728 |
9.792 |
|
|
|
|
|
|
TOTAL |
12.230 |
11.766 |
10.519 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.203 |
1.527 |
0.832 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.313 |
0.314 |
0.278 |
|
(c) Deferred tax assets (net) |
0.101 |
0.075 |
0.049 |
|
(d) Long-term Loan and Advances |
0.260 |
0.268 |
0.141 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1.877 |
2.184 |
1.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
8.260 |
7.162 |
6.525 |
|
(c) Trade receivables |
1.572 |
1.574 |
2.051 |
|
(d) Cash and cash
equivalents |
0.412 |
0.600 |
0.512 |
|
(e) Short-term loans and
advances |
0.109 |
0.246 |
0.131 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
10.353 |
9.582 |
9.219 |
|
|
|
|
|
|
TOTAL |
12.230 |
11.766 |
10.519 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
NA |
11.855 |
11.619 |
|
|
|
Other Income |
NA |
0.167 |
0.285 |
|
|
|
TOTAL |
NA |
12.022 |
11.904 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
11.896 |
11.626 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.091 |
0.126 |
0.278 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.019 |
0.056 |
0.121 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
0.072 |
0.070 |
0.157 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.50 |
0.49 |
1.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
0.58 |
1.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.06 |
2.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.77
|
1.11 |
2.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.25 |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
14.36
|
17.10 |
13.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91
|
0.89 |
0.94 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY OF
LONG TERM BORROWINGS DETAIL: NOT AVAILABLE
|
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 two 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 |
No |
|
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 |
Yes |
|
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
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
Loans from Related Parties |
5.213 |
5.256 |
|
Loan from Others |
0.000 |
0.031 |
|
|
|
|
|
Total |
5.213 |
5.287 |
BACKGROUND
The company is a private Limited company
domiciled in India and incorporated on 7th October, 1996, under the
provision of the company Act, 1956. The principal shareholders of the company
as at 31st March 2013 is its directors and their relatives.
OPERATIONS
During the year,
the company's Net Profit after taxation is Rs.0.072 Million as against Net
Profit of Rs.0.070 Million for the previous year. The Management of the company
is confident of gradual and consistent increase in turnover for the company in
the year head.
NOTE:
The Registered office of the company is
shifted from, Shree Krishna Cotton Press Compound Sewri M Godown, 156 Zakaria
Bunder Road, Mumbai, Maharashtra, India to the present address w.e.f.
05.02.2009.
INDEX OF CHARGES:
|
S.No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10312509 |
14/09/2011 |
3,500,000.00 |
The
Cosmos Co-operative Bank Limited |
269/270
SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA |
B23345366 |
FIXED ASSETS:
·
Furniture and
Fixture
·
Office Equipment
·
Telephone instrument
·
Typewriter
·
Motor Car (Ford)
·
Motor Car (Honda City)
·
Motor Car (Swift)
·
Mobile Phone
·
Air Conditioner
·
Computer
·
Xerox Machine
·
Dies and Mouldings
·
Television A/c.
·
Digital Camera
·
Laptop
·
Refrigerator
·
Washing Machine
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.61.53 |
|
|
1 |
Rs.100.73 |
|
Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.