MIRA
INFORM REPORT
|
Report Date : |
23.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIPIKA ENTERPRISES |
|
|
|
|
Registered
Office : |
Plot No : 50-51, Zonal Shopping Complex, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
1995 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.550 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADFD9156F |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Trader and Distributor of Pharmaceuticals. |
|
|
|
|
No. of Employees
: |
5 (Approximately) (In office: 3 + Branch: 2) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 18000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The concern can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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.
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. Dilip Kumar Jain |
|
Designation : |
Partner |
|
Contact No.: |
91-9434011100 |
|
Date : |
18.09.2014 |
LOCATIONS
|
Registered Office : |
Plot No : 50-51, Zonal Shopping Complex, Parasar Road, A-Zone,
Durgapur, District.-Burdwan -
713204, West Bengal |
|
Tel. No.: |
91-343-2562336 |
|
Mobile No.: |
91-9434011100 (Mr. Dilip Kumar Jain) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
450 Sq. ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Rajendra Kumar Jain |
|
Designation : |
Partner |
|
Address : |
Plot No : 50-51, Zonal Shopping Complex, Parasar Road, A-Zone,
Durgapur – 713204, Dist.-Burdwan, West Bengal, India |
|
Date of Birth/Age : |
80 Years |
|
Qualification : |
B.A. |
|
|
|
|
Name : |
Mr. Dilip Kumar Jain |
|
Designation : |
Partner |
|
Address : |
Plot No : 50-51, Zonal Shopping Complex, Parasar Road, A-Zone,
Durgapur – 713204, Dist.-Burdwan, West Bengal, India |
|
Date of Birth/Age : |
55 Years |
|
Qualification : |
B. Sc. |
|
|
|
|
Name : |
Mrs. Sarita Jain |
|
Designation : |
Partner |
|
Address : |
Plot No : 50-51, Zonal Shopping Complex, Parasar Road, A-Zone,
Durgapur – 713204, Dist.-Burdwan, West Bengal, India |
|
Date of Birth/Age : |
51 Years |
|
Qualification : |
B.A. |
BUSINESS DETAILS
|
Line of Business : |
Trader and Distributor of Pharmaceuticals. |
|
|
|
|
Agencies Held : |
·
Torrent Pharmaceuticals Limited ·
Nipro India Corporation Private Limited ·
Karnataka
Antibiotics and Pharmaceuticals Limited ·
Biochem Pharmaceuticals Limited |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (90-120 Days) |
GENERAL INFORMATION
|
Customers : |
Government and Corporate Hospitals |
|
|
|
|
No. of Employees : |
5 (Approximately) (In office: 3 + Branch: 2) |
|
|
|
|
Bankers : |
Canara Bank, Benachity, Durgapur, District Burdwan – 713213, West
Bengal, India |
|
|
|
|
Facilities : |
Credit Limit = Rs.3.000 Millions |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sen and Ray Company Chartered Accountants |
|
Address : |
Surya Sen Sarani, Berhampur, Dist Murshidabad, west Bengal, India |
|
|
|
CAPITAL STRUCTURE
As on: 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs. 4.550 Millions |
|
Borrowed : |
- |
|
Total : |
Rs. 4.550 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
4.550 |
3.781 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
4.550 |
3.781 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
3.996 |
2.444 |
|
|
TOTAL BORROWING |
|
3.996 |
2.444 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
8.546 |
6.225 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.184 |
0.211 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.110 |
0.110 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
2.440 |
1.528 |
|
|
Sundry Debtors |
|
4.188 |
3.763 |
|
|
Cash & Bank Balances |
|
0.190 |
0.638 |
|
|
Other Current Assets |
|
0.243 |
0.189 |
|
|
Loans & Advances |
|
1.500 |
0.000 |
|
Total
Current Assets |
|
8.560 |
6.118 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.206 |
0.083 |
|
|
Other Current Liabilities |
|
0.000 |
0.005 |
|
|
Provisions |
|
0.103 |
0.126 |
|
Total
Current Liabilities |
|
0.309 |
0.214 |
|
|
Net Current Assets |
|
8.252 |
5.904 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
8.546 |
6.225 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
18.750 |
19.358 |
|
|
|
Other Income |
|
0.023 |
0.010 |
|
|
|
TOTAL |
|
18.773 |
19.368 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
16.963 |
17.677 |
|
|
|
Salary |
|
0.198 |
0.198 |
|
|
|
Bonus |
|
0.016 |
0.017 |
|
|
|
Rent |
|
0.114 |
0.114 |
|
|
|
Insurance |
|
0.014 |
0.014 |
|
|
|
Travelling |
|
0.024 |
0.025 |
|
|
|
Audit Fees |
|
0.007 |
0.005 |
|
|
|
Interest to Bank |
|
0.114 |
0.042 |
|
|
|
Interest on Partner's Capital |
|
0.454 |
0.416 |
|
|
|
Repair to plant and
Machinery |
|
0.025 |
0.023 |
|
|
|
Salary to Partner |
|
0.406 |
0.406 |
|
|
|
Other expenses |
|
0.245 |
0.232 |
|
|
|
TOTAL |
|
18.580 |
19.169 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.193 |
0.199 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.027 |
0.033 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.166 |
0.166 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.88 |
0.86 |
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.88 |
0.86 |
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.01 |
2.81 |
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.65 |
4.39 |
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.88 |
0.65 |
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
27.70 |
28.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3.781 |
4.550 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Net
worth |
3.781 |
4.550 |
|
|
|
|
|
Secured Loans |
3.996 |
2.444 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Total
borrowings |
3.996 |
2.444 |
|
Debt/Equity
ratio |
1.057 |
0.537 |
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
19.358 |
18.750 |
|
|
|
(3.141) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
19.358 |
18.750 |
|
Profit |
0.166 |
0.166 |
|
|
0.86% |
0.89% |
S
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 |
Yes |
|
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 two years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
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 |
Trade References
M2HSDSP Hospital
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.60.78 |
|
|
1 |
Rs.99.29 |
|
Euro |
1 |
Rs.78.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.