MIRA INFORM REPORT
|
Report No. : |
320297 |
|
Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
CELLO INTERNATIONAL PRIVATE LIMITED (w.e.f. May 2012) |
|
|
|
|
Formerly Known
As : |
CELLO THERMOWARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 720 / 5, Somnath Road, Dabhel, Daman – 396210, Daman and Diu |
|
Tel. No.: |
91-260-2253029 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
21.01.1991 |
|
|
|
|
Com. Reg. No.: |
56-001277 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209DD1991PTC001277 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of house hold plastic molding furniture
water bottles, hot pots, house hold containers, house hold dust bins and
house hold individual containers. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
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 company has incurred a loss from its operations. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
Note: As claimed by Ms. Priyanka that the company has changed their name
from “Cello thermoware Private limited” to “Cello International Private
Limited” with effect from (w.e.f. May 2012.) |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 DENIED BY
|
Name : |
Mr. Pralhad |
|
Designation : |
Marketing Department |
|
Contact No.: |
91-9849029959 |
|
Date : |
30.04.2015 |
LOCATIONS
|
Registered Office : |
Plot No. 720 / 5, Somnath Road, Dabhel, Daman – 396210, Daman and Diu,
India |
|
Tel. No.: |
91-260-2253029 |
|
Fax No.: |
91-260-2240074 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Mukesh Bhanwarlal Jain |
|
Designation : |
Director |
|
Address : |
A-2D, Devra Building, 53, Rani Sati Marg, Malad (East), Mumbai - 400097, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1969 |
|
Date of Appointment : |
21.12.2002 |
|
DIN No.: |
00625604 |
|
|
|
|
Name : |
Mr. Jayantiilal Walchand Jain |
|
Designation : |
Director |
|
Address : |
Mona Building, B-212, Near Navrang Cinema, Andheri (W), Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1944 |
|
Date of Appointment : |
21.12.2002 |
|
DIN No.: |
02362063 |
|
|
|
|
Name : |
Mr. Ashim Arunchandra Bose |
|
Designation : |
Whole-Time Director |
|
Address : |
1A-704, Ahimsa Dham, Off New Link Road, Opposite Shakti Industrial Estate, Malad (W), Mumbai - 400064, Maharashtra, India |
|
Date of Birth/Age : |
03.04.1959 |
|
Date of Appointment : |
13.04.2012 |
|
DIN No.: |
05247425 |
KEY EXECUTIVES
|
Name : |
Mr. Pralhad |
|
Designation : |
Marketing Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ghisulal D. Rathod |
|
9800 |
|
Pradeep G. Rathod |
|
30590 |
|
Pankaj G. Rathod |
|
20000 |
|
Pannalal J. Sharma |
|
400 |
|
Jayantilal W. Jain |
|
40 |
|
Sangeeta P. Rathod |
|
23000 |
|
Babita P. Rathod |
|
40000 |
|
Pankaj G. Rathod (Huf) |
|
400 |
|
Gaurav P. Rathod |
|
39680 |
|
Karishma P. Rathod |
|
8040 |
|
Ghisulal D. Rathod (Huf) |
|
20000 |
|
Snaha P. Rathod |
|
8040 |
|
Pradeep G. Rathod (Huf) |
|
10 |
|
Total |
|
200000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
0.02 |
|
Other top fifty shareholders |
99.98 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of house hold plastic molding furniture
water bottles, hot pots, house hold containers, house hold dust bins and
house hold individual containers. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
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|
Agencies Held : |
Not Available |
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|
|
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Exports : |
Not Divulged |
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|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
Not Available |
||||||||||||||
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|
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|
|
Auditors : |
|
|
Name : |
Bharat P Shah and Company Chartered Accountants |
|
Address : |
159/4 Smruti, Jawahar Nagar Road No. 02, Goregaon West, Mumbai-
400062,
Maharashtra, India |
|
Tel. No.: |
91-22-28767488/ 28737904/ 28732862 |
|
Mobile No.: |
91-9892166440 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAOFB1698P |
|
|
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Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Company : |
|
|
|
|
|
Associate Concern |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400,000 |
Equity Shares |
Rs.100/- each |
Rs. 40.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Million |
|
|
|
|
|
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 |
20.000 |
20.000 |
20.000 |
|
(b) Reserves & Surplus |
128.158 |
145.916 |
210.759 |
|
(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) |
148.158 |
165.916 |
230.759 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
2.236 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
2.236 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
28.939 |
0.000 |
101.420 |
|
(b) Trade
payables |
177.215 |
232.189 |
424.279 |
|
(c) Other
current liabilities |
27.696 |
29.430 |
32.567 |
|
(d) Short-term
provisions |
6.026 |
2.997 |
12.951 |
|
Total Current
Liabilities (4) |
239.876 |
264.616 |
571.217 |
|
|
|
|
|
|
TOTAL |
388.034 |
430.532 |
804.212 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
19.591 |
22.138 |
20.357 |
|
(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) |
19.159 |
30.443 |
0.000 |
|
(d)
Long-term Loan and Advances |
5.111 |
5.519 |
5.149 |
|
(e) Other
Non-current assets |
38.667 |
9.496 |
138.406 |
|
Total Non-Current
Assets |
82.528 |
67.596 |
163.912 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6.666 |
12.811 |
29.593 |
|
(c) Trade
receivables |
198.786 |
237.347 |
355.658 |
|
(d) Cash
and cash equivalents |
4.151 |
-11.915 |
142.534 |
|
(e)
Short-term loans and advances |
95.903 |
124.693 |
112.515 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
305.506 |
362.936 |
640.300 |
|
|
|
|
|
|
TOTAL |
388.034 |
430.532 |
804.212 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
551.774 |
641.031 |
1619.114 |
|
|
|
Other Income |
34.527 |
22.363 |
100.945 |
|
|
|
TOTAL |
586.301 |
663.394 |
1720.059 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
|
479.029 |
1497.549 |
|
|
|
Employees benefits expense |
|
8.995 |
22.458 |
|
|
|
Other expenses |
|
268.959 |
183.012 |
|
|
|
TOTAL |
NA |
756.983 |
1703.019 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
NA |
(93.589) |
17.040 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
NA |
1.043 |
0.886 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
(94.632) |
16.154 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
NA |
2.889 |
2.503 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
(97.522) |
13.651 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
(32.679) |
6.326 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(17.758) |
(64.843) |
7.325 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
760.148 |
1752.820 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(88.79) |
(324.21) |
36.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(3.22) |
(10.12) |
0.45 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
(14.60) |
1.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(24.38) |
1.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
(0.59) |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.20 |
0.00 |
0.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.37 |
1.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
20.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
210.759 |
145.916 |
128.158 |
|
Net worth |
230.759 |
165.916 |
148.158 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
101.420 |
0.000 |
28.939 |
|
Total borrowings |
101.420 |
0.000 |
28.939 |
|
Debt/Equity ratio |
0.440 |
0.000 |
0.195 |
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) |
|
Sales |
1619.114 |
641.031 |
551.774 |
|
|
|
-60.409 |
(13.924) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1619.114 |
641.031 |
551.774 |
|
Profit/Loss |
7.325 |
(64.843) |
(17.758) |
|
|
0.45% |
(10.12%) |
(3.22%) |
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 |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
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 LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Pradeep G. Rathod |
25.000 |
0.000 |
|
Cello Finance Corporation |
2.539 |
0.000 |
|
Gaurav P. Rathod |
1.400 |
0.000 |
|
Total |
28.939 |
0.000 |
INDEX OF CAHREGS: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
- Freehold Land
- Factory Building
- Plant and Machinery
- Office Equipments
- 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,
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.63.20 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--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 |
|
29 |
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.