|
Report Date : |
17.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
B S ENTERPRISES |
|
|
|
|
Registered
Office : |
11/60, Kashi Bhawan, Near Old Radhaswami Satsang Ghar, Kapurthala –
144601, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of
Establishment : |
September 2012 |
|
|
|
|
Capital
Investment : |
Not Divulged |
|
|
|
|
IEC No.: |
3013003723 |
|
|
|
|
TIN No.: |
03222110458 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMFB1871G |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Trader, Dealer, Exporter and Importer of Yarns and Fabrics. |
|
|
|
|
No. of Employees
: |
9 (Approximately) [In Office: 5 + In Branch: 4] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behavior : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a partnership concern with limited operational history
having moderate track record. Mr. Rahul Kashyap, a partner parted that the management has reported
an improvement in its business profile owing to witnessing an acceptable
revenue base during FY 14. Moreover, the concern possesses an acceptable financial profile marked
by adequate capitalization levels as well as favorable gap between trade
receivable and payables with average liquidity scenario along with low profit
margin as a result of limited value adding nature of the business during FY
13. The ratings also take into consideration, the extensive experience of
the promoters, albeit subject’s modest scale of 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 the concern being in embryonic stages, it can be considered
for business dealings 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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. Ratul Kashyap |
|
Designation : |
Partner |
|
Contact No.: |
91-9910239997 |
|
Date : |
13.11.2014 |
LOCATIONS
|
Registered Office : |
11/60, Kashi Bhawan, Near Old Radhaswami Satsang Ghar, Kapurthala –
144601, Punjab |
|
Tel. No.: |
91-120-4547758 |
|
Mobile No.: |
91-9910239997 (Mr. Ratul Kashyap) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Branch Office 1: |
S.C.O – 18, First Floor, M.D. Complex, Chandigarh Road, Near Samrala Chowk,
Opposite Allahabad Bank, Ludhiana – 141010, Punjab, India |
|
Tel. No.: |
91-161-5069824 |
|
|
|
|
Branch Office 2: |
B-15, Sec 64, Noida – 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4547758 |
PARTNERS
|
Name : |
Mr. Ratul Kashyap |
|
Designation : |
Partner |
|
Address : |
553, Plot No. F-28, Sector 50, Noida – 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
27.07.1969 |
|
Qualification : |
Graduation |
|
Experience : |
25 Years |
|
|
|
|
Name : |
Mr. Randhir Singh Kashyap |
|
Designation : |
Partner |
|
Address : |
11/60, Near Devi Talab, Kapurthala, Punjab, India |
|
Date of Birth/Age : |
08.01.1945 |
|
Qualification : |
Graduation |
|
Experience : |
45 Years |
BUSINESS DETAILS
|
Line of Business : |
Trader, Dealer, Exporter and Importer of Yarns and Fabrics. |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Yarns and Fabrics |
|
Countries : |
· Bangladesh · Egypt · China · US · Europe, etc. |
|
|
|
|
Imports : |
|
|
Products : |
100% Linen Yarn and Fabric |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 Days and 60 Days) and Others |
|
|
|
|
Purchasing : |
L/C and Credit (30 Days) |
GENERAL INFORMATION
|
Suppliers : |
· Cheran Spinners, Erode · Alps Industries · Compare Exports Private Limited · Gajanaya Silk Fibers · R.K. Overseas · Supreme Cotspin Mills Private Limited · Umesh Yarn Agency · G.G.S. Industry
|
||||||||||||||||||||||||||
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|
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Customers : |
|
||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||
|
No. of Employees : |
9 (Approximately) [In Office: 5 + In Branch: 4] |
||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kalbhushan and Associates Chartered Accountants |
|
Address : |
Bajwa Market, Aman Nagar, Kapurthala – 144601, Punjab, India |
|
Tel. No.: |
91-1822-505252 |
|
E-Mail: |
|
|
|
|
|
Associates/Subsidiaries : |
Not Available |
|
|
|
|
Sister Concerns : |
· B.S. Overseas Address: B-15, Sec-64, Noida, Uttar Pradesh, India · FAFA International Address : B-15, Sec-64, Noida, Uttar Pradesh, India |
CAPITAL STRUCTURE
As on 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs. 1.059 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 1.059
Millions |
FINANCIAL DATA
[All figures are
in Rupees Millions]
|
Particulars |
31.03.2014 |
|
|
|
|
Sales Turnover (Approximately) |
100.000 |
|
|
|
Expected Sales (2014-2015): Rs. 200.000 Millions
The above information has been parted by Me. Ratul Kashyap (Partner)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
|
1.059 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.059 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1.059 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.069 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.051 |
|
|
Sundry Debtors |
|
|
1.324 |
|
|
Cash & Bank Balances |
|
|
0.728 |
|
|
Other Current Assets |
|
|
0.004 |
|
|
Loans & Advances |
|
|
0.096 |
|
Total
Current Assets |
|
|
2.203 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.973 |
|
|
Other Current Liabilities |
|
|
0.061 |
|
|
Provisions |
|
|
0.179 |
|
Total
Current Liabilities |
|
|
1.213 |
|
|
Net Current Assets |
|
|
0.990 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1.059 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
21.635 |
|
|
|
Other Income |
|
|
0.640 |
|
|
|
TOTAL |
|
|
22.275 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
19.742 |
|
|
|
Freight |
|
|
0.427 |
|
|
|
Accounting Charges |
|
|
0.026 |
|
|
|
Audit Fees |
|
|
0.005 |
|
|
|
Business Promotion Expenses |
|
|
0.082 |
|
|
|
Computer Repair |
|
|
0.003 |
|
|
|
Entertainment |
|
|
0.013 |
|
|
|
General Expenses |
|
|
0.007 |
|
|
|
Interest on Capital |
|
|
0.024 |
|
|
|
Partners Salary |
|
|
0.438 |
|
|
|
Petrol Expenses |
|
|
0.022 |
|
|
|
Salary |
|
|
1.191 |
|
|
|
Software Expenses |
|
|
0.004 |
|
|
|
Travelling Expenses |
|
|
0.016 |
|
|
|
Other Expenses |
|
|
0.048 |
|
|
|
TOTAL |
|
|
22.048 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION |
|
|
0.227 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.100 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
|
|
0.127 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
|
|
0.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
5.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.82 |
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 two years |
Yes |
|
12] |
Profitability for last one years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
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 |
FIXED ASSETS
· Furniture and Fixtures
· Laptop
· Mobile Set
· Printer
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 records 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.61.65 |
|
|
1 |
Rs.96.54 |
|
Euro |
1 |
Rs.76.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
--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 |
|
32 |
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.