MIRA
INFORM REPORT
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Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
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Name : |
BALAJI KITCHEN ACCESSORIES PRIVATE LIMITED |
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Registered
Office : |
B-17, M.I.D.C., Ahmednagar – 414111, Maharashtra |
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Country : |
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Date of
Incorporation : |
17.12.2012 |
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Com. Reg. No.: |
11-145743 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U32204PN2012PTC145743 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Assembling and Trading of Electronic Components. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated on 17th December,
2012, it has started its commercial operation from December 2013. It is
having a moderate track. Management has failed to file the financials for the year 2013 with
the government department. Mr. Ravi Deshpande, Accounts Manager provided us with general and also
provided us with sales turnover of Rs.35.000 Millions for the year 2014 which
is not verified. Trade relations are improving. Business is active. Payment terms are
reported to be unknown. The company can be considered for business dealings with some caution.
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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) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.2453.2 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 PARTED BY
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Name : |
Mr. Ravi Deshpande |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9326238004 |
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Date : |
21.05.2014 |
LOCATIONS
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Registered Office : |
B-17, M.I.D.C., Ahmednagar – 414111, Maharashtra, India |
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Tel. No.: |
91-241-2030887 |
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Mobile No.: |
91-9326238004 (Mr. Ravi Deshpande) |
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Fax No.: |
91-241-2030887 |
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E-Mail : |
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Area : |
3 Acres |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Narendra Madhusudan Mulay |
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Designation : |
Director |
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Address : |
Madhuswapna Bhistbag Road, Ahmednagar – 414003, Maharashtra, India |
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Date of Birth/Age : |
09.03.1972 |
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Date of Appointment : |
17.12.2012 |
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DIN No.: |
01192000 |
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Name : |
Mr. Arjun Bhagwan Pisal |
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Designation : |
Director |
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Address : |
103, Ekata Colony, Agarakar Mala, Kesaganv Devi Road, Agarakar Mala,
Ahmednagar – 414001, Maharashtra, India
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Date of Birth/Age : |
03.04.1965 |
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Date of Appointment : |
17.12.2012 |
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DIN No.: |
06408139 |
KEY EXECUTIVES
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Name : |
Mr. Ravi Deshpande |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 07.12.2012
|
Names of Shareholders |
No. of Shares |
% of Holding |
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Narendra Madhusudan Mulay |
5000 |
50.00 |
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Arjun Bhagwan Pisal |
5000 |
50.00 |
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Total |
10000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Assembling and Trading of Electronic Components. |
GENERAL INFORMATION
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Suppliers : |
·
Marks Ten Equipments India Private Limited ·
Tek Care
India Private Limited |
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Customers : |
Videocon Group |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
Federal Bank, Fort Branch, Mumbai, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
C K Patil and Sons Chartered Accountants |
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Sister Concern : |
·
Vinayak Home Electricity Appliances Private
Limited ·
Orient Appliance Private Limited ·
Inspire Appliances Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2014 |
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Sales Turnover (Approximately) |
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35.000 |
Expected Sales (2013-2014): Rs.450.000 Millions
The above information has been parted by Mr. Ravi Deshpande
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
Yes |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact
person |
Yes |
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11] |
Turnover of firm for last
one year |
Yes |
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12] |
Profitability for last
one year |
No |
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13] |
Reasons for variation
<> 20% |
----------- |
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14] |
Estimation for coming
financial year |
Yes |
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15] |
Capital in the business |
Yes |
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16] |
Details of sister
concerns |
Yes |
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17] |
Major suppliers |
Yes |
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18] |
Major customers |
Yes |
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19] |
Payments terms |
Yes |
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20] |
Export / Import details
(if applicable) |
Yes |
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21] |
Market information |
---------- |
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22] |
Litigations that the firm
/ promoter involved in |
---------- |
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23] |
Banking Details |
Yes |
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24] |
Banking facility details |
No |
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25] |
Conduct of the banking
account |
---------- |
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26] |
Buyer visit details |
---------- |
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27] |
Financials, if provided |
Yes |
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28] |
Incorporation details, if
applicable |
Yes |
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29] |
Last accounts filed at
ROC |
No |
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30] |
Major Shareholders, if
available |
Yes |
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31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
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32] |
PAN of
Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
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34] |
External Agency Rating,
if available |
No |
NO CHARES EXIST FOR THE 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.58.57 |
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|
1 |
Rs.98.88 |
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Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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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 |
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NB |
NEW BUSINESS |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.