MIRA INFORM REPORT
|
Report No. : |
315608 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHOKSEY CHEMICALS PRIVATE LIMITED |
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|
|
Formerly Known
As : |
THE MINERAL MINING COMPANY PRIVATE LIMITED |
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Registered
Office : |
Plot No. 3-B, MIDC Industrial Area, Village Taloja, District Raigad,
Taluka Panvel, Mumbai – 410208, Maharashtra |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
16.11.1943 |
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Com. Reg. No.: |
11-019661 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1943PTC019661 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC11041C |
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|
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PAN No.: [Permanent Account No.] |
AAACC6303K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer
of Construction Chemicals, Sealants, Waterproof Coatings, Water
Repellents, etc. |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 14000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s weak operational
performance marked by leverage business risk profile and accumulated losses
incurred by the company. However, trade relations are fair. Business is active. Payments are
reported to be slow. 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = B- |
|
Rating Explanation |
Risk prone credit quality and carries very
high credit risk. |
|
Date |
March 11, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
March 11, 2014 |
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 DECLINED BY
|
Name : |
Mr. Pradeep Bhandarkar |
|
Designation : |
Senior Purchase Manager |
|
Contact No.: |
91-22-24090124 |
|
Date : |
13.03.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 3-B, MIDC Industrial Area, Village Taloja, District Raigad,
Taluka Panvel, Mumbai – 410208, Maharashtra, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office : |
111, Industrial Area, Sion (East), Near Cinemax, Mumbai – 400022, Maharashtra, India |
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Tel. No.: |
91-22-24090124/ 0127/ 0325 |
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Fax No.: |
91-22-24072949 |
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E-Mail : |
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Branch Offices : |
Located at: · Bangalore · Delhi · Guwahati · Indore · Kolkata · Jaipur ·
Ahmedabad |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Ankur Girish Choksey |
|
Designation : |
Managing director |
|
Address : |
Geetanjali, 9N, Gamadia Cross Road, Cumbala
Hill, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
04.08.1969 |
|
Date of Appointment : |
03.08.1995 |
|
DIN No.: |
00246144 |
|
|
|
|
Name : |
Mr. Amit Champaklal Choksey |
|
Designation : |
Director |
|
Address : |
Geetanjali, 9N, Gamadia Cross Road, Off
Peddar Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
14.10.1954 |
|
Date of Appointment : |
28.09.1994 |
|
DIN No.: |
00001470 |
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|
|
|
Name : |
Mr. Atul Champaklal Choksey |
|
Designation : |
Director |
|
Address : |
Geetanjali, 9N, Gamadia Cross Road, Off
Peddar Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
17.10.1951 |
|
Date of Appointment : |
25.03.1994 |
|
DIN No.: |
00002102 |
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|
|
|
Name : |
Mr. Prashant Girish Choksey |
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Designation : |
Director |
|
Address : |
Geetanjali, 9N, Gamadia Cross Road, Off
Peddar Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
07.08.1970 |
|
Date of Appointment : |
03.08.1995 |
|
DIN No.: |
00172025 |
|
|
|
|
Name : |
Mr. Girish Champaklal Choksey |
|
Designation : |
Director |
|
Address : |
Geetanjali, 9, Gamadia Cross Road,
Gamadevi, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
21.10.1942 |
|
Date of Appointment : |
31.12.1973 |
|
DIN No.: |
00246196 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Bhandarkar |
|
Designation : |
Senior Purchase Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kaur Shashi jointly with Kaur Chander Suresh |
|
5 |
|
Kaur Chander Ramesh jointly with Kaur Neerum |
|
13 |
|
Chhowala G Pravin |
|
9 |
|
Parikh V Uday jointly with Parikh B Vasant, Parikh V Avantika Tushar |
|
7 |
|
Choksey C Girish jointly with Choksey G Sunita |
|
592 |
|
Choksey G Sunita jointly with Choksey C Girish |
|
464 |
|
Kaur Devi Rani jointly with Kaur Madanlal |
|
7 |
|
Lukmani B M. |
|
5 |
|
Nanvati V Bhupendra jointly with Nanavati B Pratima |
|
9 |
|
Samant P Nilkant jointly with Samant N Anand |
|
5 |
|
Samant P Nilkant jointly with Samant N Leela |
|
5 |
|
Parikh H Hansa |
|
6 |
|
Raghu S C |
|
2 |
|
Choksey G Ankur jointly with Choksey C Girish, Choksey G Sunita |
|
43 |
|
Choksey Girish Ankur jointly with Choksey Ankur Hiloni |
|
951 |
|
Choksey C Girish (H U F) jointly with Choksey G Sunita |
|
91 |
|
Choksey G Prashant jointly with Choksey G Sunita |
|
45 |
|
Choksey G Ankur (HUF) jointly with Choksey C Girish |
|
2 |
|
Aquamarine Trading and Investments Private Limited, India |
|
930 |
|
Gauriputra Investment and Trading Company Private Limited, India |
|
465 |
|
Choksey Ankur Hiloni jointly with Choksey G Ankur |
|
1260 |
|
Choksey Girish Prashant jointly with Choksey Prashant Pooja |
|
15 |
|
Choksey Prashant Pooja jointly with Choksey Girish Prashant |
|
25 |
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Vartak K Sashikant jointly with Suhas Shashikant Vartak |
|
20 |
|
Naresh P Choksey |
|
5 |
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Rita Ashok Parekh jointly with Parekh A Janaki, Parekh A Devaki |
|
5 |
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Choksey J Bharat jointly with Choksey B. Meena |
|
5 |
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Nanavati V Balvant jointly with Nanavati Balwantrai Vipul, Ushma Vipul
Nanavati |
|
9 |
|
|
|
|
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Total |
|
5000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
27.90 |
|
Directors
or relatives of directors |
69.76 |
|
Other
top fifty shareholders |
2.34 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Construction Chemicals, Sealants, Waterproof Coatings, Water
Repellents, etc. |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
· Afcons Infrastructure Limited · Larsen and Toubro Co. Limited · Hindustan Construction Company · Reliance Constructions Company · Gammon India Limited · Kalpataru Constructions · ACC |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Punjab National Bank Large Corporate Branch, V.N. Road, Fort, Mumbai - 400023,
Maharashtra, India |
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Facilities : |
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Financial Institution : |
· Bajaj Finance Limited Akurdi Pune, Mumbai Pune Road, Pune – 411035, Maharashtra, India |
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Auditors : |
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Name : |
Ravi A. Shah and Associates Chartered Accountants |
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Address : |
10, Shriniket Apartments, 23 Bajaj Road, Vile Parle
(West), Mumbai – 400056, Maharashtra, India |
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Tel. No.: |
91-22-26135613 |
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Mobile No.: |
91-9819063558 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AWCPS3095F |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,500 |
Equity Shares |
Rs. 1000/- each |
Rs. 12.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000 |
Equity Shares |
Rs. 1000/- each |
Rs. 5.000 Million |
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|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
(0.260) |
19.206 |
40.909 |
|
(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) |
4.740 |
24.206 |
45.909 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
43.027 |
46.675 |
49.233 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.152 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
1.440 |
2.344 |
2.420 |
|
Total
Non-current Liabilities (3) |
44.467 |
49.019 |
51.805 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
49.331 |
43.773 |
30.104 |
|
(b)
Trade payables |
84.716 |
71.996 |
61.660 |
|
(c)
Other current liabilities |
20.838 |
18.973 |
16.937 |
|
(d)
Short-term provisions |
6.310 |
5.993 |
5.879 |
|
Total
Current Liabilities (4) |
161.195 |
140.735 |
114.580 |
|
|
|
|
|
|
TOTAL |
210.402 |
213.960 |
212.294 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
46.651 |
53.045 |
21.878 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
31.672 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
4.265 |
4.266 |
4.266 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
1.820 |
2.466 |
1.656 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
52.736 |
59.777 |
59.472 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
53.824 |
54.500 |
46.767 |
|
(c)
Trade receivables |
89.245 |
89.112 |
77.837 |
|
(d)
Cash and cash equivalents |
8.616 |
4.360 |
23.488 |
|
(e)
Short-term loans and advances |
5.981 |
6.211 |
4.730 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
157.666 |
154.183 |
152.822 |
|
|
|
|
|
|
TOTAL |
210.402 |
213.960 |
212.294 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
300.900 |
272.000 |
270.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
300.904 |
273.195 |
265.859 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(0.004) |
(1.195) |
5.041 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.995 |
13.658 |
7.988 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(12.999) |
(14.853) |
(2.947) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.493 |
6.988 |
4.429 |
|
|
|
|
|
|
|
|
|
|
EXTRAORDINARY ITEMS |
(0.026) |
0.014 |
1.210 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(19.466) |
(21.855) |
(8.586) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(0.152) |
(0.206) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(19.466) |
(21.703) |
(8.380) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
9.031 |
NA |
NA |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(3893.2) |
(4340.6) |
(1676.0) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.44) |
(10.42) |
(4.87) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(4.11) |
(0.90) |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
19.48 |
3.74 |
1.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.10 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
40.909 |
19.206 |
-0.260 |
|
Net
worth |
45.909 |
24.206 |
4.740 |
|
|
|
|
|
|
Long-term borrowings |
49.233 |
46.675 |
43.027 |
|
Short term borrowings |
30.104 |
43.773 |
49.331 |
|
Total
borrowings |
79.337 |
90.448 |
92.358 |
|
Debt/Equity ratio |
1.728 |
3.737 |
19.485 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
270.900 |
272.000 |
300.900 |
|
|
|
0.406 |
10.625 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
270.900 |
272.000 |
300.900 |
|
Profit/ (Loss) |
(8.380) |
(21.703) |
(19.466) |
|
|
(3.09%) |
(7.98%) |
(6.47%) |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
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 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from 111, Industrial
Area, Sion, Mumbai – 400002, Maharashtra, India to the present address
w.e.f.26.09.2013.
OPERATIONS
The Company during the year earned a total income of Rs. 300.900 Million
as against Rs. 272.000 Million in the previous year. The Company has made net
loss after tax stood to Rs. 19.466 Million as compared to net loss of Rs.
21.703 Million in the previous year.
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 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. 62.59 |
|
|
1 |
Rs. 92.45 |
|
Euro |
1 |
Rs. 67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
-- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.