|
Report Date : |
21.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
CREATIVE BUSINESS INTERNATIONAL |
|
|
|
|
Registered
Office : |
E 16, Sriramnagar, S. No. 138, Opposite ITI Aundh, Pune - 411007, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
2007 |
|
|
|
|
Com. Reg. No.: |
AUNDH/II/3476 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.498 Millions |
|
|
|
|
IEC No.: |
3106001348 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AMVPS5210R |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Processing Machinery. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietary concern having satisfactory
track record. Profitability of the concern seems to be fair. 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. Note: Earlier Mr. Sam, Chief Operating Officer had confirmed the year
of establishment is 2007 and now he claimed that the year of establishment is
2005. |
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic
product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces
a 119 year old registration. The Securities and Exchange Board of India has
approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
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. Sam |
|
Designation : |
Chief Operating Officer |
|
Contact No.: |
91-9890440989 |
|
Date : |
08.01.2014 |
LOCATIONS
|
Registered Office : |
E 16, Sriramager, S. No. 138, Opposite ITI Aundh, Pune-411007, |
|
Tel. No.: |
91-20-25886197 |
|
Mobile No.: |
91-9890440989 (Mr. Sam) |
|
Fax No.: |
91-20-25886197 |
|
E-Mail : |
|
|
Area : |
1500 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
H – Block, A 101, MIDC, Pimpari, Pune – 411018, Maharashtra,
India |
|
Area : |
1000 Sq. Ft |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mrs. Annie Samual |
|
Designation : |
Proprietor |
|
Address : |
B 904, Prism Society, Near Spicer Memorial College, Aundh, Pune –
411007, Maharashtra, India |
|
Date of Birth/Age : |
48 Years |
|
Qualification : |
B. Com, Bed. |
|
Experience : |
20 Years |
KEY EXECUTIVES
|
Name : |
Mr. Sam |
|
Designation : |
Chief Operating Officer |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Processing Machinery. |
|
|
|
|
Agencies Held : |
Hyperthem, Singapore |
|
|
|
|
Exports : |
|
|
Products : |
·
Plasma OE Consumables ·
CNC Plasma ·
Welding Machines |
|
Countries : |
Middle East Countries |
|
|
|
|
Imports : |
|
|
Products : |
Laser and Plasma OE Parts and Consumables |
|
Countries : |
·
USA ·
Germany ·
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
10 (Approximately) |
|
|
|
|
Bankers : |
· IDBI Bank, Aundh, Pune - 411007, Maharashtra, India Tel No.: 91-20-25882488/25893534 · Axis Bank, Aundh, Pune - 411007, Maharashtra, India Tel No.: 91-20-25888716 |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jairaman and Associates Chartered Accountants |
|
Address : |
Flat No.14, Anuradha Society, 41 A Bhau Patil Road, Bopodi, Pune - 411020, Maharashtra, India |
|
Tel. No.: |
91-20-25875068 |
|
E-Mail : |
|
|
|
|
|
Sister Concerns : |
·
Pathfinder
Future Solutions Limited Address: E 16,
Sriramager, S. No. 138, Opposite ITI Aundh, Pune-411007, Maharashtra, India Line
of Business : Start-up business for laser machines – fiber coupled, commodity
trading ·
Princeglobal
Future Solutions Limited Address:
Hongkong Line
of Business : Infra projects in food preservations and processing, commodity trading |
CAPITAL STRUCTURE
As on 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs.3.498 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.3.498
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
3.498 |
3.697 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1.517 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
5.015 |
3.697 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.879 |
4.518 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.879 |
4.518 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.894 |
8.215 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.341 |
0.399 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
3.962 |
3.882 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
(0.279) |
|
|
Cash & Bank Balances |
|
2.224 |
0.671 |
|
|
Other Current Assets |
|
0.186 |
0.031 |
|
|
Loans & Advances |
|
0.320 |
4.119 |
|
Total
Current Assets |
|
2.730 |
4.542 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.890 |
0.592 |
|
|
Other Current Liabilities |
|
0.249 |
0.016 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
1.139 |
0.608 |
|
|
Net Current Assets |
|
1.591 |
3.934 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.894 |
8.215 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
12.152 |
1.384 |
|
|
|
Other Income |
|
0.383 |
0.321 |
|
|
|
TOTAL |
|
12.535 |
1.705 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
8.700 |
0.986 |
|
|
|
Staff salary |
|
0.240 |
0.000 |
|
|
|
Direct Expenses |
|
0.007 |
0.050 |
|
|
|
Accounting charges |
|
0.015 |
0.005 |
|
|
|
Audit fees |
|
0.028 |
0.000 |
|
|
|
Bank charges |
|
0.001 |
0.001 |
|
|
|
Books and periodicals |
|
0.002 |
0.000 |
|
|
|
Business promotions |
|
0.170 |
0.000 |
|
|
|
Corporation tax |
|
0.006 |
0.006 |
|
|
|
Designing charges |
|
0.301 |
0.000 |
|
|
|
Electricity expenses |
|
0.009 |
0.000 |
|
|
|
Insurance |
|
0.010 |
0.011 |
|
|
|
Interest on overdraft |
|
0.130 |
0.000 |
|
|
|
Interest on Vat |
|
0.000 |
0.000 |
|
|
|
Misc Expenses |
|
0.016 |
0.000 |
|
|
|
Newspaper |
|
0.001 |
0.000 |
|
|
|
Office Expenses |
|
0.006 |
0.000 |
|
|
|
Office rent |
|
0.058 |
0.000 |
|
|
|
Postage and courier |
|
0.002 |
0.000 |
|
|
|
Printing and stationery |
|
0.005 |
0.000 |
|
|
|
Professional fees |
|
0.004 |
0.011 |
|
|
|
Professional tax |
|
0.003 |
0.003 |
|
|
|
Repairs and maintenance |
|
0.106 |
0.000 |
|
|
|
Staff salary |
|
0.775 |
0.000 |
|
|
|
Staff welfare |
|
0.042 |
0.000 |
|
|
|
Society maintenance |
|
0.000 |
0.016 |
|
|
|
Telephone charges |
|
0.026 |
0.038 |
|
|
|
Tours and travelling expenses |
|
0.000 |
0.059 |
|
|
|
Training expenses |
|
0.048 |
0.010 |
|
|
|
Travelling expenses |
|
0.207 |
0.000 |
|
|
|
Vat demand paid |
|
0.032 |
0.000 |
|
|
|
Vehicle maintenance |
|
0.010 |
0.000 |
|
|
|
TOTAL |
|
10.960 |
1.196 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1.575 |
0.509 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
0.058 |
0.074 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
1.517 |
0.435 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
12.10 |
25.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
12.48 |
31.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
49.40 |
8.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.30 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.18 |
1.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.40 |
7.47 |
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
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 |
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 |
TRADE REFERENCES:
·
Name: Proarc Welding and
Cutting System Private Limited
Address:
Pune,
Maharashtra, India
Person
Name: Mr. Purshottam Peswani, Director
Contact
No.: 91-9730089173
·
Name: Pentagon Assembly
Automation Private Limited
Address:
Pune,
Maharashtra, India
Person
Name: Manoi Mathew, Director
Contact
No.: 91-7507422009
·
Name: Larsen and Toubro
Limited
Address:
Ranoli
Works, Vadodara, Gujarat, India
Person
Name: Mr. Tarak Parekh, Dy, General Manager Purchase
Contact
No.: 91-9909026780
·
Name: Research and
Development Estt.
Address:
Dighi,
Pune, Maharashtra, India
Person
Name: Dr. Makarand Joshi, Head CRC
Contact
No.: 91-9423013785
FIXED ASSETS:
·
Air Conditioner
·
Computer
·
Furniture
·
Motor Car
·
Office Equipment
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.61.35 |
|
|
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
48 |
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.