1. Summary Information
|
Country |
India |
||
|
Company Name |
SPACETHETICS |
Principal Name 1 |
Ms. Snehal Sushil Mantri |
|
Status |
Moderate |
Principal Name 2 |
Mr. Manoj Kumar Gilada |
|
Registration # |
AAA-9225 |
||
|
Street Address |
#41, Vittal Mallya Road, Mantri House, Bangalore-560001, Karnataka |
||
|
Established Date |
15.05.2012 |
SIC Code |
-- |
|
Telephone# |
91-80-65475751/52 |
Business Style 1 |
Importer |
|
Fax # |
Not Available |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Furniture |
|
|
# of employees |
Not Divulged |
Product Name 2 |
Interior Products |
|
Paid up capital |
Rs.100,000/- |
Product Name 3 |
Construction Materials |
|
Shareholders |
-- |
Banking |
Punjab National
Bank |
|
Public Limited Corp. |
No |
Business Period |
2 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
22,326,000 |
Current Liabilities |
34,523,000 |
|
Inventories |
30,713,000 |
Long-term Liabilities |
17,237,000 |
|
Fixed Assets |
140,000 |
Other Liabilities |
240,000 |
|
Deferred Assets |
000 |
Total Liabilities |
52,000,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
1,079,000 |
|
|
|
Net Worth |
1,179,000 |
|
Total Assets |
53,179,000 |
Total Liab. & Equity |
53,179,000 |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales/ Total Income |
43,413,000 |
Net Profit |
494,000 |
|
Sales(Previous yr)/ Total Income |
-- |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SPACETHETICS |
|
|
|
|
Registered
Office : |
#41, Vittal Mallya Road, Mantri House, Bangalore-560001, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.05.2012 |
|
|
|
|
LLPIN : |
AAA-9225 |
|
|
|
|
Obligation of Contribution
: |
Rs.0.100 Million |
|
|
|
|
PAN No.: [Permanent Account No.] |
ACDFS1342Q |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Importer and Trader of Furniture, Interior Products, Construction Materials
and Related Inventory. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established limited liability partnership concern having
moderate track. The concern is under developing phase and in its first year of
operations the management has witnessed a decent turnover whereas has
reported a thin profit margin due to its trading nature of business during
2013. The ratings also takes into consideration the moderate working capital
intensive operations during the year under review. However, trade relations seems to be fair. Business is active. Payment
terms are reported as slow but correct. In view of reputed partners, the subject 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 DECLINED
Management non co-operative [91-80-41300000]
LOCATIONS
|
Registered Office : |
#41, Vittal Mallya Road, Mantri House, Bangalore-560001, Karnataka,
India |
|
Tel. No.: |
91-80-65475751/52 / 41300000 /
41345712 |
|
Mobile No.: |
91-9989399879 (Mr. Manoj Kumar Gilda) |
|
Fax No.: |
Not Available |
|
Email: |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
“Mantri Espana” Opposite Intel Site, Outer Ring Road,
Devarabisanahalli, Bangalore -560037, Karnataka, India |
|
|
|
|
Branch Office : |
HYDERABAD: Plot No.143, Beside, Ratandeep Super Market, Srinagar Colony Road No.2,
Banjara Hills, Hyderabad – 500073 , Andhra Pradesh India Tel No.: 91-40-20000886 BANGALORE: 271, Chowdiah Road, 18th Cross, Malleshwaram,
Bangalore-560003, Karnataka, India Tel No.: 91-80-65475751 CHENNAI: No. 5, Palm Garden, 4th Cross Street, ECR, Akkarai,
Chennai-600119, Tamilnadu, India Tel No.: 91-44-66705500 |
PARTNERS
AS ON 31.03.2013
|
Name : |
Ms. Snehal Sushil Mantri |
||
|
Designation : |
Designated Partner |
||
|
Address : |
Radhika, 121/3, Prabhat Road, Deccan Gymkhana, Pune, Maharashtra,
India |
||
|
Date of Birth/Age : |
12.11.1963 |
||
|
Date of Appointment : |
15.05.2012 |
||
|
Other Director |
Mantri Developers Private Limited |
||
|
PAN No.: |
ADXPM8073H |
||
|
DPIN No.: |
00166900 |
||
|
|
|
||
|
Name : |
Mr. Manoj Kumar Gilada |
||
|
Designation : |
Designated Partner |
||
|
Address : |
3-5-141/A/1/a, EDEN Bagh, Ramkoti, Nampally, Hyderabad, Andhra
Pradesh, India |
||
|
Date of Birth/Age : |
18.09.1979 |
||
|
Qualification : |
MBA |
||
|
Date of Appointment : |
15.05.2012 |
||
|
PAN No.: |
AGGPG1834N |
||
|
DPIN No.: |
05103423 |
||
|
|
|
||
|
Name : |
Mr. Srikumar Inani |
||
|
Designation : |
Designated Partner |
||
|
Address : |
15-9-56, Maharaj Gunj, Begum Bazar, Hyderabad, Andhra Pradesh, India |
|
|
|
Date of Birth/Age : |
13.04.1982 |
||
|
Qualification : |
MBA Engineer |
||
|
Date of Appointment : |
15.05.2012 |
||
|
PAN No.: |
AAHPI6696R |
||
|
Experience : |
9 Years |
||
KEY EXECUTIVES
|
Name : |
Mr. Prakash Gajanan Hegde |
|
Address : |
1951, 53/B, 10th B cross, Rajajinagar, Bangalore – 560010,
Karnataka, India |
|
Date of Birth/Age : |
08.06.1958 |
|
Date of Appointment : |
15.05.2012 |
|
PAN No.: |
AAHPH6792D |
BUSINESS DETAILS
|
Line of Business : |
Importer and Trader of Furniture, Interior Products, Construction
Materials and Related Inventory. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|
|
|
|
Bankers : |
Punjab National Bank, Cantonment Branch, Bangalore, Karnataka, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Mutakana Surendra Reddy Chartered Accountant |
CAPITAL STRUCTURE
AS ON 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs.0.100 Million |
|
Borrowed : |
-- |
|
Total : |
Rs.0.100 Million |
PARTNERS
CONTRIBUTION DETAILS:
|
Particular |
Contribution Amount In Millions |
|
|
|
|
Snehla Sushil Mantri |
0.010 |
|
Manoj Kumar Gilada |
0.020 |
|
Srikumar Inani |
0.020 |
|
Mantri Developers Private Limited |
0.050 |
|
TOTAL |
0.100 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2013 |
|
|
|
|
|
|
I.
CONTRIBUTION AND LIABILITIES |
|
|
|
|
(1) Partner’s Funds |
|
|
|
|
(a) Contribution Received |
|
|
0.100 |
|
(b) Reserves & Surplus |
|
|
1.079 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
|
|
|
|
|
Liabilities |
|
|
|
|
Secured |
|
|
0.000 |
|
Unsecured |
|
|
0.000 |
|
Short term borrowings |
|
|
17.237 |
|
Trade payables/Creditors |
|
|
23.706 |
|
Other liabilities |
|
|
10.817 |
|
Other provisions |
|
|
0.240 |
|
|
|
|
|
|
TOTAL |
|
|
53.179 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
|
|
||
|
Fixed Assets |
|
|
0.140 |
|
Long-term Loan and Advances |
|
|
7.487 |
|
investments |
|
|
0.000 |
|
Inventories |
|
|
30.713 |
|
Trade receivables/Debtors |
|
|
7.412 |
|
Cash and cash equivalents |
|
|
7.427 |
|
Other assets |
|
|
0.000 |
|
|
|
|
|
|
TOTAL |
|
|
53.179 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
43.413 |
|
|
Other Income |
|
|
0.321 |
|
|
TOTAL
(A) |
|
|
43.734 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Personal Expenses |
|
|
2.375 |
|
|
Purchases of Stock-in-Trade |
|
|
65.153 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
(30.713) |
|
|
Payment to Auditors |
|
|
0.070 |
|
|
Insurance Expenses |
|
|
0.001 |
|
|
Power and Fuel |
|
|
0.053 |
|
|
Other expenses |
|
|
4.459 |
|
|
TOTAL
(B) |
|
|
41.398 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
|
2.336 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
1.542 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
0.794 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.060 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
|
|
0.734 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
|
|
0.240 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
|
|
0.494 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
---- |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
PAT / Total Income |
(%) |
|
|
1.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
1.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
1.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.62 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
14.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.87 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last one years |
Yes |
|
12] |
Profitability for last one 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 |
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 |
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 |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
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 |
No |
NOTE : No Charges Exist for Company.
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.60.04 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.