|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARNIMA VENTURES LLP |
|
|
|
|
Registered Office
: |
7/16, Parekh Farm, Opposite Gulmohar Horizon, Near Sai
Service Station, Kondhwa Budruk,
Pune – 411048, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.12.2009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
|
|
|
|
TIN : |
27730790145 |
|
|
|
|
LLPIN : |
AAA-0484 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter, Importer and Trader of Solar Water Heating and
Lighting Systems and related products. |
|
|
|
|
No. of Employees
: |
50 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Limited Liability Partnership, concern having moderate
track record. Management of the company has filed its financials up to the year 2012
with the Government department whereas financials till the year 2011 are only
available with us. As per year 2011, financial the company seems to have recorded huge
accumulated losses from its operations. However, Business is active. Payment terms are unknown. The company can be considered for business dealings on a 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.
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Nandini Ghosh |
|
Designation : |
Head of marketing |
|
Contact No.: |
91-9212192824 |
|
Date : |
16.04.2014 |
LOCATIONS
|
Registered Office : |
7/16, Parekh Farm, Opposite Gulmohar Horizon, Near Sai
Service Station, Kondhwa Budruk,
Pune – 411048, Maharashtra,
India |
|
Tel. No.: |
91-20-26831513 |
|
Mobile No.: |
91-9873128610 [Mr. Naveen Mittal] 91-9212192824 [Mr. Nandini Ghosh] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office 1 : |
1/19, Evershine Mall, Mindspace,
Malad [West], Mumbai – 400064, Maharashtra,
India |
|
|
|
|
Corporate Office : |
Suit No. 007, 4th Floor, Time square Sushant
Lokvan, Gurgaon – 122002,
Haryana, India |
|
|
|
|
Branch Office 2 : |
Located At ·
Noida |
PARTNERS
As on 31.03.2011
|
Name : |
Mr. Naveen Mittal |
|
Designation : |
Designated Partner |
|
Address : |
258 Prateet Nagar,
Raiwala – 249205, India |
|
Date of Birth/Age : |
04.07.1962 |
|
Qualification : |
BUSINESS |
|
PAN No.: : |
AGIPM8619D |
|
Date of Appointment : |
25.05.2010 |
|
DPIN No.: |
02463896 |
|
|
|
|
|
|
|
Name : |
Mr. Sandeep Mishra
|
|
Designation : |
Designated Partner |
|
Address : |
Flat No. 704, Plot No. 57, Sector – 56, Gurgaon
– 122002, Haryana, India |
|
Date of Appointment : |
01.08.2011 |
|
DPIN No.: |
03547481 |
|
|
|
|
Name : |
Mr. Narendra Kumar Verma |
|
Designation : |
Designated Partner |
|
Address : |
Flat No. 8, LE Royal ], Wanowrie, Pune, Maharashtra, India |
|
Date of Appointment : |
25.05.2010 |
|
DPIN No.: |
05007226 |
|
|
|
|
Name : |
Mr. Pawan Desai |
|
Designation : |
Designated Partner |
|
Address : |
Flat No. 605, A-Wing, Orchid Complex CHSL Valley of Flowers, Thakur Village, Kandivali
(East), Mumbai - 400101, Maharashtra, India |
|
Date of Appointment : |
01.08.2011 |
|
PAN No.: : |
ABNPD5237A |
|
|
|
|
Name : |
Mr. Samrendra Mohan Kumar |
|
Designation : |
Partner |
|
Address : |
R-1003, AWHO Sispal Vihar,
Sector – 49, Gurgaon, Haryana,
India |
|
Date of Appointment : |
01.08.2011 |
|
PAN No.: : |
AAAGIPK4564F |
|
|
|
|
Name : |
Mr. Sunil Prem Prakash |
|
Designation : |
Designated Partner |
|
|
E-211, Pocket-H, Sarita Vihar,
Delhi - 110076, India |
|
|
|
|
DPIN No.: |
05007228 |
|
|
|
|
|
|
|
Name : |
Mr. Jaideep Hargurusharan
Singh |
|
Designation : |
Designated Partner |
|
|
A/8, Durga Mandir
Road, Rudrapur Udham
Singh Nagar, Rudrapur,
India |
|
|
25.05.2010 |
|
|
|
|
DPIN No.: |
05007227 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Importer and Trader of Solar Water Heating and
Lighting Systems and related products |
|
|
|
|
Products : |
§
Smart LED Indoor Lights §
Street Lights §
LED Flood Lights and Industrial High Bay
Lights §
Solar Home Products §
Energy Efficient State of Art Lighting
Solutions based on Light |
|
|
|
|
Services : |
§
Solar PV Systems
§
Waste Water Management §
Rain Water Harvesting §
Solar Water Heating §
Audits And Consultancy §
Turnkey Projects And PM §
Consultancy and Project Management in
Renewable Energy §
Emitting Diodes §
Solar Photo Voltaic Rooftop Systems §
Solar Charge Controllers and Inverters §
Hybrid Micro Wind Power Systems §
Waste Water Management and Recycling §
Repair, Rehabilitation and AMC of Systems §
Solar based Lanterns, Home / Field Lights,
Mobile Chargers, etc §
Solar Water Purifiers |
|
|
|
|
Exports : |
|
|
Products : |
Solar Water Heating and Lighting Systems |
|
Countries : |
Sri Lanka |
|
|
|
|
Terms : |
|
|
Selling : |
Advance Credit and L/C |
|
|
|
|
Purchasing : |
Advance Credit and L/C |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
|
|
|
|
No. of Employees : |
50 [Approximately] |
|
|
|
|
Bankers : |
ICICI Bank Limited, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Suresh Shankar Ingale Chartered Accountant |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.0.100 million |
|
Borrowed : |
-- |
|
Total : |
Rs.0.100 million |
Partners’
Contribution
|
Partners |
|
Contribution [Rs.in millions] |
|
Naveen Mittal |
|
0.040 |
|
Sunil Prem Prakash |
|
0.020 |
|
Narendra Kumar Verma |
|
0.020 |
|
Jaideep Hargurusharan
Singh |
|
0.020 |
|
Total |
|
0.100 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Partners' Funds |
|
|
|
|
(a) Contribution |
|
|
0.100 |
|
(b) Reserves & Surplus |
|
|
(1.205) |
|
(c) Money received against share
warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
|
|
|
|
|
(3) Liabilities |
|
|
|
|
(a) Secured Loans |
|
|
0.000 |
|
(b) Unsecured Loans |
|
|
3.241 |
|
(c) Short term borrowings |
|
|
0.000 |
|
(d) Trade payables/Creditors |
|
|
0.173 |
|
(e) Other current liabilities |
|
|
0.034 |
|
(f) Provisions |
|
|
|
|
For Taxation |
|
|
0.000 |
|
For Contingency |
|
|
0.000 |
|
For Insurance |
|
|
0.000 |
|
Other Provision |
|
|
0.037 |
|
|
|
|
|
|
TOTAL |
|
|
2.380 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
( |
|
|
|
|
(a) Fixed Assets |
|
|
0.042 |
|
(b) investments |
|
|
0.000 |
|
(c) Long-term Loan and Advances |
|
|
0.581 |
|
(d) Inventories |
|
|
0.187 |
|
(e) Trade receivables |
|
|
1.370 |
|
(f) Cash and Cash Equivalent |
|
|
0.165 |
|
(g) Other assets |
|
|
0.035 |
|
|
|
|
|
|
TOTAL |
|
|
2.380 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
1.969 |
|
|
Other Income |
|
|
0.133 |
|
|
TOTAL
(A) |
|
|
2.102 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Other Expenses |
|
|
0.148 |
|
|
Purchases of Stock-in-Trade |
|
|
1.414 |
|
|
Personal Expenses |
|
|
0.812 |
|
|
Administrative Expenses |
|
|
0.353 |
|
|
Selling Expenses |
|
|
0.342 |
|
|
TOTAL
(B) |
|
|
3.069 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
|
(0.967) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(0.967) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.011 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
|
|
(0.978) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
|
|
(0.978) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
(97.800) |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
(46.53) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
(49.67) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(41.09) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
(2.93) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
7.20 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
----- |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last one years |
Yes |
|
Profitability
for last one years |
Yes |
|
Reasons
for variation <> 20% |
No |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
No |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
------ |
|
Litigations
that the firm / promoter involved in |
------ |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
Conduct
of the banking account |
------ |
|
Buyer
visit details |
----- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
No |
|
Major
Shareholders, if applicable |
No |
|
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
PAN of Proprietor/Partner/Director, if available |
Yes |
|
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency Rating, if available |
No |
Note:
As confirmed by management, the registered
office of the company has been shifted from Shop No.4, 1st Floor,
Commercial Brahma Aangan Salunke
Vihar, Rod Kondhwa, Pune – 411048, Maharashtra, India
to 7/16,
Parekh Farm, Opposite Gulmohar
Horizon, Near Sai Service Station, Kondhwa Budruk, Pune – 411048, Maharashtra, India
but the same has not been in the Government registry.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 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.59.99 |
|
UK Pound |
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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.