MIRA
INFORM REPORT
|
Report Date : |
31.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAJHANS NUTRIMENTS
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Rajhans House”, 3rd
Floor, Opposite Gitanjali Petrol Pump, |
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|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
26.08.2011 |
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|
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Com. Reg. No.: |
04-066906 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.0.101
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15490GJ2011PTC066906 |
|
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|
|
TIN No.: |
24222806163 |
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|
PAN No.: [Permanent Account No.] |
AAFCR4322Q |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Chocolate Confectioneries. |
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|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Yet to commence its business activity |
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|
|
Payment Behaviour : |
Unknown |
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|
|
Litigation : |
Clear |
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|
Comments : |
Even though, the company was incorporated during 26th
August, 2011 it is yet to commence its business activity. Mr. Pankaj Jain (Director) has provided us with the general
information and he also confirmed that the company has not yet started its
business activity. However, business is active as per the status shown in the registrar
of companies. Payment terms are reported to be unknown. The company can be considered for business dealings on safe and
secured 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.
HENKEL RATING
|
HENKEL’s Rating : |
500* (Doubtful accounts) |
|
Credit
Rating |
Henkel
Rating (Customer Risk Assesment- CRA) |
||
|
Mira
Inform |
Risk
Category |
Credit
Limit |
Description |
|
Aaa |
100 |
Inter Company, credit limit
not required |
Very low risk (blue ships) |
|
Aa |
200,
201 |
(120% of Gross Annualised
Sales/365)*Credit Term. |
Low risk |
|
A |
300,
301 |
(100% of Gross Annualised
Sales/365)*Credit Term. |
Moderate risk |
|
Ba |
350 |
(90% of Gross Annualised
Sales/365)*Credit Term. |
Significant risk |
|
B |
400 |
(80% of Gross Annualised
Sales/365)*Credit Term. |
High risk |
|
450 |
Very high risk |
||
|
Ca
or C |
500* |
NIL/ Legal/ Bad/No Transaction |
Doubtful accounts |
|
|
007* |
NIL |
Small unrated customers |
|
|
009* |
NIL |
Inactive customers |
|
|
999* |
Initially First Invoice vales,
CRA will be done and based on report the CL would get revised. |
New customer |
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20%! Equities came in second with annualized
return of 15.5%! However, while these returns may seem mouthwatering, the fact
is that the return from equities adjusted for inflation came down to just 7.1
%.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
.
. Ukrain’s clashes with rebels hinder MH17 crash investigation
.
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs.10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term: B+ |
|
Rating Explanation |
Have high risk of default. |
|
Date |
November, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term: A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
November, 2013 |
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. Pankaj Jain |
|
Designation : |
Director |
|
Contact No.: |
91-9824130920 |
|
Date : |
28.07.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
“Rajhans House”, 3rd
Floor, Opposite Gitanjali Petrol Pump, |
|
Tel. No.: |
91-261-2551129 2553307/ 2541456/ 2503041/ 42 |
|
Mobile No.: |
91-9824130920 (Mr. Pankaj Jain) |
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Fax No.: |
91-261-2541496 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory : |
Block No.555, Paikee 2, Mahuvej, |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Jayesh Batukbhai Desai |
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Designation : |
Director |
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|
Address : |
804, Amidhara Apartment, Behind Sarjan Society, Athwalines, |
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Date of Birth/Age : |
01.07.1969 |
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Date of Appointment : |
26.08.2011 |
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DIN No.: |
00060977 |
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Other Directorship:
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Name : |
Mr. Vijaykumar Batukbhai Desai |
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|
Designation : |
Director |
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|
Address : |
804, Amidhara Apartment, Behind Sarjan Society, Athwalines, |
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Date of Birth/Age : |
28.04.1971 |
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Date of Appointment : |
26.08.2011 |
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DIN No.: |
00061000 |
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Other Directorship:
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Name : |
Mr. Shivlal Gokulchand Jain |
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|
Designation : |
Director |
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Address : |
A/57, Saifi Society, |
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Date of Birth/Age : |
01.01.1958 |
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Date of Appointment : |
26.08.2011 |
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DIN No.: |
00061146 |
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Other Directorship:
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Name : |
Mr. Pankaj Shivlal Jain |
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|
Designation : |
Director |
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Address : |
A/57, Saifi Society, |
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Date of Birth/Age : |
08.06.1989 |
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Date of Appointment : |
26.08.2011 |
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DIN No.: |
03597235 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Jayesh B. Desai |
|
4002500 |
|
Shivlal Gokulchand Jain |
|
4002500 |
|
Vijaykumar B. Desai |
|
2502500 |
|
Pankaj Shivlal Jain |
|
502500 |
|
Flutron Marketing and Advertising Private Limited, |
|
100 |
|
Bhumiben Desai |
|
500000 |
|
Truptiben Desai |
|
500000 |
|
Sunilbhai Jain |
|
1250000 |
|
Sanjaybhai Jain |
|
1000000 |
|
Seemaben Jain |
|
250000 |
|
Rinkuben Jain |
|
250000 |
|
Sushilaben Jain |
|
250000 |
|
Total
|
|
15010100 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
0.99 |
|
Directors
or relatives of directors |
|
99.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chocolate Confectioneries. |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
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|
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|
Bankers : |
·
State Bank of ·
HDFC
Bank Limited ·
ICICI
Bank Limited ·
The Varachha Co-operative Bank Limited |
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|
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|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
PKMG and Company Chartered Accountants |
|
Address : |
4021, World Trade Centre, |
|
Tel. No.: |
91-261-2302334/ 3912334 |
|
Fax No.: |
91-291-3912333 |
|
PAN No.: |
AALFP0373J |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15010100 |
Equity Shares |
Rs.10/- each
|
Rs.150.101
millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10100 |
Equity Shares |
Rs.10/- each
|
Rs.0.101
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
Note:
Financial Details File Attached.
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
|
0.100 |
0.101 |
|
Reserves & Surplus |
|
0.000 |
0.000 |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net worth |
|
0.100 |
0.101 |
|
|
|
|
|
|
Long-term borrowings |
|
10.950 |
210.228 |
|
Short term borrowings |
|
0.000 |
0.471 |
|
Total borrowings |
|
10.950 |
210.699 |
|
Debt/Equity ratio |
|
109.500 |
2086.129 |
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 |
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 |
No |
|
12] |
Profitability for last three years |
No |
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10471507 |
28/12/2013 |
45,000,000.00 |
STATE BANK OF |
MID CORPORATE BRANCH,
TRADE HOUSE, |
B93993343 |
|
2 |
10426298 |
18/06/2014 * |
689,000,000.00 |
STATE BANK OF |
MID CORPORATE BRANCH,
TRADE HOUSE, OPPOSITE MANDRAWAJA FIRE STATION, |
C09392895 |
|
3 |
10426295 |
24/05/2014 * |
689,000,000.00 |
STATE BANK OF |
MID CORPORATE BRANCH,
TRADE HOUSE, OPPOSITE MANDRAWAJA FIRE STATION, |
C07221864 |
|
4 |
10413275 |
31/01/2013 |
204,000,000.00 |
STATE BANK OF |
MID CORPORATE BRANCH,
TRADE HOUSE, OPPOSITE MANDARWAJA FIRE STATION, |
B71284921 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
From Directors (Loan from
directors carry interest @ 12% p.a. and are repayable in demand) |
36.646 |
10.950 |
|
From
shareholders, relatives and others |
156.776 |
0.000 |
|
Total |
193.422 |
10.950 |
FINANCIAL RESULTS:
During the year, the company has not carried
on any operational activities.
FIXED ASSETS:
·
Air Condition
·
Computer and Printer
·
Innova Car
·
Land
·
Laptop
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.60.15 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.80.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--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 |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
|
14 |
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.