MIRA
INFORM REPORT
|
Report Date : |
09.09.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
701, |
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Country : |
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Financials (as
on) : |
31.03.2014 [Provisional] |
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Date of
Incorporation : |
19.06.2009 |
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Com. Reg. No.: |
11-193449 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.950 Millions |
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CIN No.: [Company Identification
No.] |
U15530MH2009PTC193449 |
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IEC No.: |
0313084793 |
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PAN No.: [Permanent Account No.] |
AANCS3826N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Country Liquor, Rum, Brandy and Whisky. |
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No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Very small company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a very small company in its field. Its scale of activities
are limited. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for small to medium business dealings
with great 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 |
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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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes that many things such as apartment
sales, luxury products, etc. were largely bought with dirty money. And it is
now beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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. Mukesh Umraomal Jain |
|
Designation : |
Director |
|
Contact No.: |
91-9823372347 |
|
Date : |
06.09.2014 |
LOCATIONS
|
Registered Office : |
701, Shri Marigold Valley of Flowers, Thakur Village, Kandivali
[East], Mumbai – 400101, Maharashtra, India |
|
Tel. No.: |
91-22-26366848 |
|
Mobile No.: |
91-9823372347 [Mr. Mukesh Umraomal Jain] |
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Fax No.: |
91-22-26364715 |
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E-Mail : |
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Location : |
Owned |
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|
Factory : |
Ground Floor, Simplear, Cuncolim, Salcete, Goa, India |
|
Tel. No.: |
91-832-2865590 |
|
Location : |
Rented |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Mukesh Umraomal Jain |
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Designation : |
Director |
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Address : |
Flat BS-1, Building 2B, Premabai Enclave, Borda, Margoa - 403602, Goa,
India |
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Date of Birth/Age : |
09.10.1969 |
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Qualification : |
B. Com |
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Experience : |
17 Years |
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Date of Appointment : |
19.06.2009 |
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DIN No.: |
01359491 |
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Other Directorship :
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Name : |
Mrs. Rina Mukesh Jain |
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Designation : |
Director |
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|
Address : |
Flat BS-1, Building 2B, Premabai Enclave, Borda, Margoa - 403602, Goa,
India |
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Date of Birth/Age : |
25.11.2010 |
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Qualification : |
B.A. |
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Experience : |
17 Years |
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Date of Appointment : |
25.11.2010 |
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DIN No.: |
01594512 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mukesh Umraomal Jain |
30000 |
60.00 |
|
Rina Mukesh Jain |
20000 |
40.00 |
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Total |
50000 |
100.00 |
AS ON 29.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Country Liquor, Rum, Brandy and Whisky. |
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Terms : |
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Selling : |
Credit [60 Days] |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
5 (Approximately) |
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Bankers : |
· HDFC Bank Limited Shop No. 4, 5 and 6, M.J. Residency, Voddy, Cuncolim - 403703, Goa,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dinesh Bangar and Company Chartered Accountants |
|
Address : |
23, 3rd Floor, 22/24, Kanubhavan CHS Limited, 32Chewool Wadi,
Off Kolbhat Lane, Kalbadevi, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-22058797 |
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Mobile No.: |
91-9820478152 |
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Related Party : |
· Pramukh Closures Private Limited Address: SA-12, Cuncolim Industrial
Estate, Cunocolim, Salcete - 403703, Goa, India Activity: Manufacturing
of P.P. Caps. |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 1.950
Millions
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2014 [Provisional] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.950 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.444 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2.394 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.394 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
|
|
1.275 |
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|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2.421 |
|
|
Sundry Debtors |
|
|
2.233 |
|
|
Cash & Bank Balances |
|
|
0.007 |
|
|
Other Current Assets |
|
|
0.088 |
|
|
Loans & Advances |
|
|
0.125 |
|
Total
Current Assets |
|
|
4.874 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.027 |
|
|
Other Current Liabilities |
|
|
3.678 |
|
|
Provisions |
|
|
0.050 |
|
Total
Current Liabilities |
|
|
3.755 |
|
|
Net Current Assets |
|
|
1.119 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.394 |
|
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.500 |
0.500 |
|
(b) Reserves & Surplus |
|
0.047 |
0.007 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
0.547 |
0.507 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.739 |
1.117 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.739 |
1.117 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
3.157 |
5.464 |
|
(c)
Other current liabilities |
|
2.068 |
1.558 |
|
(d) Short-term
provisions |
|
0.167 |
0.085 |
|
Total Current
Liabilities (4) |
|
5.392 |
7.107 |
|
|
|
|
|
|
TOTAL |
|
6.678 |
8.731 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
0.000 |
0.000 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.080 |
1.080 |
|
(c) Deferred tax assets (net) |
|
0.006 |
0.007 |
|
(d) Long-term Loan and Advances |
|
0.264 |
0.264 |
|
(e) Other
Non-current assets |
|
0.413 |
0.413 |
|
Total Non-Current
Assets |
|
1.763 |
1.764 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3.621 |
3.538 |
|
(c)
Trade receivables |
|
0.921 |
2.840 |
|
(d) Cash
and cash equivalents |
|
0.095 |
0.589 |
|
(e)
Short-term loans and advances |
|
0.000 |
0.000 |
|
(f)
Other current assets |
|
0.278 |
0.000 |
|
Total
Current Assets |
|
4.915 |
6.967 |
|
|
|
|
|
|
TOTAL |
|
6.678 |
8.731 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 [Provisional] |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
3.531 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
3.531 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
|
2.968 |
|
|
|
Direct Expenses |
|
|
0.007 |
|
|
|
Indirect Expenses |
|
|
0.159 |
|
|
|
TOTAL |
|
|
3.134 |
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
0.397 |
|
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
3.072 |
5.822 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL (A) |
|
3.072 |
5.822 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
|
2.713 |
7.450 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(0.083) |
(2.179) |
|
|
|
Employees benefits expense |
|
0.089 |
0.182 |
|
|
|
Other expenses |
|
0.263 |
0.181 |
|
|
|
TOTAL (B) |
|
2.982 |
5.634 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.090 |
0.188 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.003 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.087 |
0.188 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
0.087 |
0.188 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.050 |
0.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
0.037 |
0.118 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.74 |
2.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
11.24
|
1.20 |
2.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.24
|
2.83 |
3.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.46
|
1.56 |
2.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.16 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
1.35 |
2.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
0.91 |
0.98 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014
[Provisional] |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
5.822 |
3.072 |
3.531 |
|
|
|
(47.235) |
14.941 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014
[Provisional] |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
5.822 |
3.072 |
3.531 |
|
Profit |
0.118 |
0.037 |
0.397 |
|
|
2.03% |
1.20% |
11.24% |
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
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
Loans and advances from related parties Mukesh Jain |
0.362 |
|
|
|
|
Total |
0.362 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF INCOME
[RS. IN MILLIONS]
|
PARTICULARS |
31.03.2013 |
|
|
·
Profits
and gains of Business or Profession |
|
|
|
Net Profit before tax as per P & L A/c |
0.087 |
|
|
Total income from Business and Profession |
0.087 |
|
|
Income chargeable under the head “Business and Profession” |
|
0.087 |
|
·
Total
Income |
|
0.087 |
|
|
|
|
|
Total Income rounded off u/s/ 288A |
|
0.087 |
|
|
|
|
|
·
Tax on
Total Income |
|
0.026 |
|
|
|
|
|
Add: Education Cess |
|
0.001 |
|
|
|
|
|
Tax with Cess |
|
0.027 |
|
|
|
|
|
Minimum alternative tax |
0.017 |
|
|
|
|
|
|
Net Tax |
|
0.027 |
|
TDS |
0.035 |
|
|
Total Prepaid Taxes |
|
0.035 |
|
|
|
|
|
Self-Assessment Tax Paid |
|
0.012 |
|
|
|
|
|
·
Refund
Due |
|
0.020 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED
BALANCE SHEET
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
|
|
|
Sales |
90.000 |
108.000 |
129.600 |
|
Total |
90.000 |
108.000 |
129.600 |
|
|
|
|
|
|
Raw Material Consumed |
21.600 |
25.920 |
31.104 |
|
Packing Material Consumed |
29.160 |
34.992 |
41.990 |
|
Manufacturing Expenses |
3.240 |
3.888 |
4.666 |
|
Total |
54.000 |
64.800 |
77.760 |
|
|
|
|
|
|
Gross Profit |
36.000 |
43.200 |
51.840 |
|
|
|
|
|
|
Administrative and Selling Expenses |
6.000 |
6.600 |
7.260 |
|
|
|
|
|
|
Financial Expenses |
2.025 |
2.025 |
2.025 |
|
|
|
|
|
|
Marketing Expenses |
18.000 |
21.600 |
25.920 |
|
|
|
|
|
|
Total |
26.025 |
30.225 |
35.205 |
|
|
|
|
|
|
Profit before tax |
9.975 |
12.975 |
16.635 |
|
|
|
|
|
|
Less: Provision for tax |
3.325 |
4.325 |
5.545 |
|
|
|
|
|
|
Profit after tax
|
6.650 |
8.650 |
11.090 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED
PROFIT AND LOSS ACCOUNT
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
|
|
|
Capital |
8.500 |
8.500 |
8.500 |
|
|
|
|
|
|
Reserves and Surplus |
6.843 |
15.493 |
26.583 |
|
|
|
|
|
|
Secured loan |
|
|
|
|
C/C |
15.000 |
15.000 |
15.000 |
|
T/L |
-- |
-- |
-- |
|
|
|
|
|
|
Unsecured loan |
0.363 |
0.363 |
0.363 |
|
|
|
|
|
|
Current
Liabilities |
|
|
|
|
Sundry Creditors |
6.345 |
7.614 |
9.137 |
|
Provisions |
3.325 |
4.325 |
5.545 |
|
Other Current Liabilities |
2.422 |
2.578 |
2.600 |
|
Total |
42.798 |
53.873 |
67.728 |
|
|
|
|
|
|
Investment |
2.800 |
6.000 |
10.500 |
|
|
|
|
|
|
Current Assets |
|
|
|
|
Closing stock |
8.460 |
10.152 |
12.182 |
|
Debtors |
30.000 |
36.000 |
43.200 |
|
Cash and Bank |
0.450 |
0.550 |
0.650 |
|
Advances |
0.810 |
0.893 |
0.918 |
|
Other Current Assets |
0.278 |
0.278 |
0.278 |
|
Total |
42.798 |
53.873 |
67.728 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING
CAPITAL REQUIREMENTS
OPERATING STATEMENT
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
|
|
|
|
1 |
Gross Sales |
|
|
|
|
|
i. Domestic Sales |
90.000 |
108.000 |
129.600 |
|
|
ii. Export Sales |
-- |
-- |
-- |
|
|
|
|
|
|
|
2 |
Net Sales |
90.000 |
108.000 |
129.600 |
|
|
|
|
|
|
|
3 |
Cost of Sales |
|
|
|
|
|
i. Purchase |
55.183 |
62.604 |
75.125 |
|
|
ii. Add: Opening Stock |
4.037 |
8.460 |
10.152 |
|
|
iii. Less : Closing Stock |
8.460 |
10.152 |
12.182 |
|
|
iv. Add: Manufacturing Expenses |
3.240 |
3.888 |
4.666 |
|
|
|
|
|
|
|
|
Sub Total (Total
Cost of Sales) |
54.000 |
64.800 |
77.760 |
|
|
|
|
|
|
|
4 |
Selling, General and Administrative Expenses |
24.000 |
28.200 |
33.180 |
|
|
|
|
|
|
|
5 |
Sub Total [3+4] |
78.000 |
93.000 |
110.940 |
|
|
|
|
|
|
|
6 |
Operating Profit before interest [2-5] |
12.000 |
15.000 |
18.660 |
|
|
|
|
|
|
|
7 |
Interest |
2.025 |
2.025 |
2.025 |
|
|
|
|
|
|
|
8 |
Operating Profit after Interest |
9.975 |
12.975 |
16.635 |
|
|
|
|
|
|
|
9 |
(i) Add: Other non-operating Income |
|
|
|
|
|
Misc. Income |
-- |
-- |
-- |
|
|
Export Benefit |
-- |
-- |
-- |
|
|
Sub Total
[Income] |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(ii) Deduct other non-operating expenses |
|
|
|
|
|
Depreciation |
-- |
-- |
-- |
|
|
Prior Period Expenses |
-- |
-- |
-- |
|
|
Sub Total
[Expenses] |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(iii) Net of other
non-operating Income/Expenses |
-- |
-- |
-- |
|
|
|
|
|
|
|
10 |
Profit before Taxes |
9.975 |
12.975 |
16.635 |
|
|
|
|
|
|
|
11 |
Provision for Taxes |
3.325 |
4.325 |
5.545 |
|
|
|
|
|
|
|
12 |
Net Profit/Loss [10-11] |
6.650 |
8.650 |
11.090 |
|
|
|
|
|
|
|
13 |
Retained Profit |
10.000 |
10.000 |
10.000 |
|
|
|
|
|
|
|
14 |
Retained Profits/ Net Profit % |
100.00% |
100.00% |
100.00% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
Current Liabilities |
|
|
|
|
1 |
Short term Borrowings from Bank [Including bills purchased, discounted
and excess borrowing placed on repayment basis] |
|
|
|
|
|
From Applicant bank |
15.000 |
15.000 |
15.000 |
|
|
From other Bank |
-- |
-- |
-- |
|
|
From which BP and BD |
-- |
-- |
-- |
|
|
Sub Total (A) |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
|
2 |
Short Term Borrowings from Others |
-- |
-- |
-- |
|
|
|
|
|
|
|
3 |
Sundry Creditors (Trade) |
6.345 |
7.614 |
9.137 |
|
|
|
|
|
|
|
4 |
Advance Payment from Customers/ deposits from dealers |
-- |
-- |
-- |
|
|
|
|
|
|
|
5 |
Provision for Taxation and gratuity |
3.325 |
4.325 |
5.545 |
|
|
|
|
|
|
|
6 |
Dividend Payable |
-- |
-- |
-- |
|
|
|
|
|
|
|
7 |
Other Liabilities (Due within one Year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
8 |
Deposits/ Installments of term Loan/ DPGs/ debentures, etc. [due
within one year] |
-- |
-- |
-- |
|
|
|
|
|
|
|
9 |
Other Current Liabilities & Provisions (due within one year) - Deferred Liabilities |
2.422 |
2.578 |
2.600 |
|
|
|
|
|
|
|
|
Sub Total (B) |
12.092 |
14.517 |
17.282 |
|
|
|
|
|
|
|
10 |
TOTAL CURRENT LIABILITIES |
27.092 |
29.517 |
32.282 |
|
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
11 |
Debentures (not maturing within one Year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
12 |
Preference Shares (redeemable after 1 year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
13 |
Term Loan (excluding installments payable within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
14 |
Deferred Payments Credits (excluding installments due within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
|
15 |
Term deposits (repayable within one year) |
|
|
|
|
|
Unsecured Loan |
-- |
-- |
-- |
|
|
|
|
|
|
|
16 |
Other term Liabilities [Unsecured Loan] |
0.363 |
0.363 |
0.363 |
|
|
|
|
|
|
|
17 |
TOTAL TERM LIABILITIES [Total to 11 to 16] |
0.363 |
0.363 |
0.363 |
|
|
|
|
|
|
|
18 |
TOTAL OF OUTSIDE LIABILITIES [item 10+17] |
27.455 |
29.880 |
32.645 |
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
19 |
Ordinary Share Capital |
8.500 |
8.500 |
8.500 |
|
|
|
|
|
|
|
20 |
General Reserve |
6.843 |
15.493 |
26.583 |
|
|
|
|
|
|
|
21 |
Revaluation Reserve |
-- |
-- |
-- |
|
|
|
|
|
|
|
22 |
Other Reserves |
-- |
-- |
-- |
|
|
|
|
|
|
|
23 |
Surplus or deficit in Profit and Loss account |
-- |
-- |
-- |
|
|
|
|
|
|
|
24 |
NET WORTH |
15.343 |
23.993 |
35.083 |
|
|
|
|
|
|
|
25 |
TOTAL LIABILITIES [18+24] |
42.798 |
53.873 |
67.728 |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
Current Assets |
|
|
|
|
26 |
Cash & Bank Balances |
0.450 |
0.550 |
0.650 |
|
|
|
|
|
|
|
27 |
Investment [Other than long term investment] |
|
|
|
|
|
(i) Government and other Trustee Securities |
-- |
-- |
-- |
|
|
(ii) Fixed Deposit with Bank |
-- |
-- |
-- |
|
|
|
|
|
|
|
28 |
(i) Receivables other than deferred and exports [including bills
purchases and discounted by bank] |
30.000 |
36.000 |
43.200 |
|
|
|
|
|
|
|
|
(ii) Export Receivables [including bills purchases and discounted by
bank] |
-- |
-- |
-- |
|
|
|
|
|
|
|
29 |
Installments of deferred receivables [due within one year] |
-- |
-- |
-- |
|
|
|
|
|
|
|
30 |
Inventory |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Closing stock |
8.460 |
10.152 |
12.182 |
|
|
|
|
|
|
|
|
(iv) Other Consumables spares |
-- |
-- |
-- |
|
|
|
|
|
|
|
31 |
Advances to suppliers of raw materials and stores/ spares |
0.810 |
0.893 |
0.918 |
|
|
|
|
|
|
|
32 |
Advance payment of taxes |
-- |
-- |
-- |
|
|
|
|
|
|
|
33 |
Other Current Assets (specify major items) |
0.278 |
0.278 |
0.278 |
|
|
|
|
|
|
|
34 |
TOTAL CURRENT ASSETS |
39.998 |
47.873 |
57.228 |
|
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
35 |
Gross Block |
-- |
-- |
-- |
|
|
|
|
|
|
|
36 |
Depreciation to Date |
-- |
-- |
-- |
|
|
|
|
|
|
|
37 |
Net Block |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
OTHER NON CURRENT ASSETS |
|
|
|
|
38 |
Investment/ book debts/advances/ deposits which are not current assets |
|
|
|
|
|
(i) (a) Investment in subsidiary companies |
-- |
-- |
-- |
|
|
(b) Others |
2.800 |
6.000 |
10.500 |
|
|
|
|
|
|
|
|
(ii) Advance to suppliers of Capital goods & Contractors |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(iii) Deferred Receivables |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
(iv) Other loans and advances |
-- |
-- |
-- |
|
|
|
|
|
|
|
39 |
Non Consumable Stores & Spares |
-- |
-- |
-- |
|
|
|
|
|
|
|
40 |
Other non-current assets including dues from directors |
-- |
-- |
-- |
|
|
|
|
|
|
|
41 |
TOTAL OTHER NON CURRENT ASSETS [Total of 38 to 40] |
2.800 |
6.000 |
10.500 |
|
|
|
|
|
|
|
42 |
Intangible Assets [patents, goodwill,
preliminary exps, bad/ doubtful debts not provided for etc.] |
-- |
-- |
-- |
|
|
|
|
|
|
|
43 |
TOTAL ASSETS [34+37+41+42] |
42.798 |
53.873 |
67.728 |
|
|
|
|
|
|
|
44 |
TANGIBLE NET
WORTH (24-42) |
15.343 |
23.993 |
35.083 |
|
|
|
|
|
|
|
45 |
NET WORKING
CAPITAL (17+24) – (37+41+42) to tally with (34-10) |
12.906 |
18.356 |
24.946 |
|
|
|
|
|
|
|
46 |
Current Ratio |
1.48 |
1.62 |
1.77 |
|
|
|
|
|
|
|
47 |
Total Outside Liabilities Tangible Net Worth [10/43] |
0.63 |
0.55 |
0.48 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
A. CURRENT ASSETS |
|
|
|
|
1.Stock in Progress: Months cost of Production |
8.460 |
10.152 |
12.182 |
|
|
|
|
|
|
2. Receivables other than export and deferred receivables (including bills purchased and discounted by bankers) |
30.000 |
36.000 |
43.200 |
|
|
|
|
|
|
3. Export receivables(including bills purchased and discounted) |
-- |
-- |
-- |
|
Month's export sales |
-- |
-- |
-- |
|
|
|
|
|
|
4. Advances to suppliers or raw materials and stores/spares, consumables |
0.810 |
0.893 |
0.918 |
|
|
|
|
|
|
5. Other current assets including cash and bank balances and deferred receivables due within one year (specify major items) |
0.728 |
0.828 |
0.928 |
|
|
|
|
|
|
6. Total current
Assets |
39.998 |
47.873 |
57.228 |
|
(To agree with item 34 in form III) |
|
|
|
|
|
|
|
|
|
B. CURRENT
LIABILITES |
|
|
|
|
Other than bank borrowings for working capital |
-- |
-- |
-- |
|
|
|
|
|
|
7. Creditors for purchase of raw materials, stores and consumables spares |
6.345 |
7.614 |
9.137 |
|
Month's Purchase |
-- |
-- |
-- |
|
|
|
|
|
|
8. Advance from customers |
-- |
-- |
-- |
|
|
|
|
|
|
9. Statutory Liabilities |
3.325 |
4.325 |
5.545 |
|
|
|
|
|
|
10. Other current liabilities (specify major items) |
2.422 |
2.578 |
2.600 |
|
Short term borrowings, unsecured loans, dividend payable, installments of TL, DPG, public deposits debentures etc. |
|
|
|
|
|
|
|
|
|
11. Total (To agree
with sub-total B-form III) |
12.092 |
14.517 |
17.282 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
|
|
|
|
1. Total current assets (6 in for, IV) |
39.998 |
47.873 |
57.228 |
|
|
|
|
|
|
2. Current Liabilities |
12.092 |
14.517 |
17.282 |
|
(Other than bank borrowings) (11 of Form IV) |
|
|
|
|
|
|
|
|
|
3. Working Capital gap (WCG) (1-2) |
27.906 |
33.356 |
39.946 |
|
|
|
|
|
|
4. Min. stipulated Net working Capital i.e. 25% of WCG/25% of total
current assets as case may depending upon the method of lending being applied
(Export receivable to be excluded under both method) |
6.977 |
8.339 |
9.986 |
|
|
|
|
|
|
5. Actual/Projected net working capital (45 in form III) |
12.906 |
18.356 |
24.946 |
|
|
|
|
|
|
6. Item 3 minus item 4 |
20.930 |
25.017 |
29.959 |
|
|
|
|
|
|
7. Item 3 minus item 5 |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
8. Maximum permissible bank finance (item 6 or 7, whichever is lower) |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
9. Excess borrowings representing short fall in NWC (4-5) |
(5.930) |
(10.017) |
(14.960) |
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
TRADE REFERENCES
· Tom Wine and Liquor, Panjim
Wine
Palace, Panjim
------------------------------------------------------------------------------------------------------------------------------
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 :
Chrges 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. 60.26 |
|
|
1 |
Rs. 97.51 |
|
Euro |
1 |
Rs. 77.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
2 |
|
--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 |
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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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 |
|
-- |
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.