MIRA INFORM REPORT

 

 

Report Date :

17.11.2014

 

IDENTIFICATION DETAILS

 

Name :

GAUTAM EXIM PRIVATE LIMITED

 

 

Registered Office :

C7 / 57, 59, Mirgasir Complex, Opposite Advance Complex, N H No. 8, GIDC, Vapi – 396195, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

05.08.2005

 

 

Com. Reg. No.:

04-046562

 

 

Capital Investment / Paid-up Capital :

Rs.2.500 Millions

 

 

CIN No.:

[Company Identification No.]

U51100GJ2005PTC046562

 

 

TIN No.:

Not Available

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

SRTG01806A

 

 

PAN No.:

[Permanent Account No.]

AACCG7701P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and importer of waste paper recycle machine, paper fibre for recycling and metal scrap.

 

 

No. of Employees :

15 (Approximately)

 

 

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 Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

The rating takes into consideration the company moderate financial risk profile and low profit margin.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct.

 

The company 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.

 

 

INDIAN ECONOMIC OVERVIEW

 

N E W S

 

Verdict Implications: Apex court order may alter coal import dynamics. Traders go slowly 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. Balasubramanian Raman

Designation :

Director

Contact No.:

91-260-2431988

Date :

294181

 

LOCATIONS

 

Registered Office/ Warehouse :

C7 / 57, 59, Mirgasir Complex, Opposite Advance Complex, N H No. 8, GIDC, Vapi – 396195, Gujarat, India

Tel. No.:

91-260-2431988

Mobile No.:

91-9824101950 (Mr. Balasubramanian Raman)

Fax No.:

Not Available

E-Mail :

grrpl1850@gmail.com

Location :

Owned

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Balasubramanian Raman

Designation :

Director

Address :

29, Pavitra, GIDC, Vapi – 396195, Gujarat, India

Date of Appointment :

05.08.2005

PAN No.:

ABEPR9439B

PAN No.:

ABEPR9439B

DIN No.:

00410443

 

 

Name :

Mrs. Nagalaxmi Balasubramanian

Designation :

Director

Address :

29, Pavitra, GIDC, Vapi – 396195, Gujarat, India

Date of Appointment :

05.08.2005

PAN No.:

AEGPB3803G

PAN No.:

AEGPB3803G

DIN No.:

00410495

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

% of Holding

Gautam Balasubramanian

4900

1.96

Nagalaxmi Balasubramanian

110100

44.04

Rajalaxmi G. Balasubramanian

4900

1.96

Raman Balasubramanian

130100

52.04

Total

250000

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and importer of waste paper recycle machine, paper fibre for recycling and metal scrap.

 

 

Products :
  • Waste paper recycle machine
  • Paper fibre for recycling
  • Metal scrap

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged 

 

 

Imports :

 

Products :

Raw Material

Countries :
  • USA
  • European Countries
  • Middle East
  • Far East
  • UK

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS – NOT APPLICABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Shah Paper Mills Limited

Address :

Vapi, Gujarat, India

Name of the Person :

Mr. Hemant Modi (Director Finance)

Contact No.:

91-9825137780

Since How Long Known :

20 Years

Experience :

Excellent

Maximum Limit Dealt :

Not Divulged

Remark :

They give a positive response about subject company. They are satisfied with the subject services.  

 

 

Customers :

Reference :

G. P. Harmon Inc.

Name of the Person :

USA

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

15 (Approximately)

 

 

Bankers :

Bank Name :

Yes Bank Limited

Branch :

9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

Person Name (With Designation)

Ms. Nikita Mehra (Relationship Manager)

Contact Number

91-9619028543

Name of Account Holder

Gautam Exim Private Limited

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

2 Years

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Very Good

Remarks (If any)

Banker give us positive feedback. The subject having very good track record for banking transaction.

 

 

Bank Name :

Kotak Mahindra Bank Limited

Branch :

36-38A, Nariman Bhavan, 227D, Nariman Point,  Mumbai – 400021, Maharashtra, India

Person Name (With Designation)

Mr. Omkar Ranade

Contact Number

91-9167490369 (Constantly Ringing)

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

SHORT TERM BORROWINGS

 

 

Foreign currency term loans from others

148.301

465.330

Total

148.301

465.330

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

B A Desai and Associates

Chartered Accountants

Address :

103, Khatri House, Near Heena Arcade, GIDC, Char Rasta, Vapi – 396195, Gujarat, India

PAN No. :

ABZPD0789P

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Sister Concern :

Not Divulged

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000

Equity Shares

Rs.10/- each

Rs.2.500 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000

Equity Shares

Rs.10/- each

Rs.2.500 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2.500

2.500

2.500

(b) Reserves & Surplus

26.429

21.558

16.436

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

28.929

24.058

18.936

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

4.990

2.511

8.222

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

2.836

Total Non-current Liabilities (3)

4.990

2.511

11.058

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

148.301

465.330

236.152

(b) Trade payables

107.624

248.625

228.695

(c) Other current liabilities

4.040

99.878

1.475

(d) Short-term provisions

0.000

0.000

1.290

Total Current Liabilities (4)

259.965

813.833

467.612

 

 

 

 

TOTAL

293.884

840.402

497.606

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2.247

1.314

1.191

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.254

0.138

0.138

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2.501

1.452

1.329

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

229.427

315.137

254.919

(d) Cash and cash equivalents

54.490

475.024

164.199

(e) Short-term loans and advances

7.466

48.784

77.147

(f) Other current assets

0.000

0.005

0.012

Total Current Assets

291.383

838.950

496.277

 

 

 

 

TOTAL

293.884

840.402

497.606

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

 

 

Other Income

 

 

 

 

 

TOTAL                                       

2,214.253

2,393.572

1,915.638

 

 

 

 

 

Less

EXPENSES

2,206.643

2,386.160

1,911.471

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX 

7.610

7.412

4.167

 

 

 

 

 

Less

TAX                                                                 

2.352

2.29

1.29

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

5.258

5.122

2.877

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

21.03

20.49

11.51

 

 

Particulars

 

 

 

31.03.2014

Sales Turnover (Approximately)

 

 

2190.000

 

Expected Sales (2014-2015): Rs.3000.000 Millions

 

The above information has been parted by Mr. Balasubramanian Raman

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

2.59

0.88

0.84

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.26

0.31

0.22

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

5.30

19.45

12.91

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.12

1.03

1.06

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Share Capital

2.500

2.500

2.500

Reserves & Surplus

16.436

21.558

26.429

Share Application money pending allotment

0.000

0.000

0.000

Net worth

18.936

24.058

28.929

 

 

 

 

Long Term borrowings

8.222

2.511

4.990

Short Term borrowings

236.152

465.330

148.301

Total borrowings

244.374

467.841

153.291

Debt/Equity ratio

12.905

19.446

5.299

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Total Income

1,915.638

2,393.572

2,214.253

 

 

24.949

-7.492

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Total Income

1,915.638

2,393.572

2,214.253

Profit

2.877

5.122

5.258

 

0.15%

0.21%

0.24%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS NOT AVAILABLE

 

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

Yes

12]

Profitability for last three 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

Yes

25]

Conduct of the banking account

Yes

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]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN 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

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

LONG TERM BORROWINGS

 

 

Rupee term loans from others

4.990

2.511

Total

4.990

2.511

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10434244

09/05/2013

70,000,000.00

Yes Bank Limited

9th Floor, Nehru Centre, Discovery Of India,, Dr.
Annie Besant Road, Worli,, Mumbai, Maharashtra - 
400018, India 

B78470812

2

10302654

10/08/2011

350,000,000.00

Kotak Mahindra Bank Limited

36-38a, Nariman Bhavan, 227,D,, Nariman Point,, Mumbai, Maharashtra - 400021, India

B18974105

*Date of modification Charges

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

 

 

 

 

 

 

 

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 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.6164

UK Pound

1

Rs.96.54

Euro

1

Rs.76.70

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

VNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--CREDIT LINES

1~10

3

--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

NO

--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

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.