MIRA INFORM REPORT

 

 

Report No. :

337533

Report Date :

20.08.2015

 

IDENTIFICATION DETAILS

 

Name :

PV LUMENS LLP

 

 

Registered Office :

205, Unique Industrial Estate, CHS Limited, Chakala Road, Andheri (East) Mumbai – 400099, Maharashtra

Tel. No.:

91-22-42292255/ 56/ 28046277

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

03.11.2012

 

 

Total Obligation of Contribution :

Rs. 0.050 Million

 

 

LLPIN No.:

AAB-2023

 

 

IEC No.:

0312062273

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAOFP1723H

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Distributor of LED Lights.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

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 a relatively new limited liability partnership concern established in the year 2012. It is having moderate track record.

 

Rating takes into consideration moderate financial risk profile of the company marked by huge external borrowings and relatively modest scale of operations.

 

However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In view of limited track record of business operations, the concern 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.

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Varun Bajaj

Designation :

Partner

Contact No.:

91-9819757810

Date :

18.08.2015

 

 

LOCATIONS

 

Registered Office :

205, Unique Industrial Estate, CHS Limited, Chakala Road, Andheri (East) Mumbai – 400099, Maharashtra, India

Tel. No.:

91-22-42292255/ 56/ 28046277

Mobile No.:

91-9819757810 [Mr. Varun Bajaj]

Fax No.:

Not Available

E-Mail :

navina@rptechindia.com

info@pvlumens.com

varun.bajaj@rptechindia.com

Website :

http://www.pvlumens.com

 

 

Warehouse :

Rashi Complex, A Building, Survey 186, Dongaripada, Poman Village, Vasai Bhiwandi Road, Thane – 401208, Maharashtra, India

 

 

PARTNERS

 

Name :

Mr. Sureshkumar Pansari

Designation :

Designated Partner

Address :

6A, Shatrunjay, Lalubhai Park Road, Andheri (West), Mumbai – 400058, Maharashtra, India

Date of Appointment :

03.11.2012

DPIN No.:

00215712

 

 

Name :

Mrs. Priyanka Kapal Pansari

Designation :

Partner

Address :

801, Shubh Aangan, 5th N.S. Road, J.V.P.D Scheme, Vile Parle (West), Mumbai – 400056, Maharashtra, India

Date of Appointment :

03.11.2012

DPIN No.:

06413177

 

 

Name :

Mr. Varun Virendra Bajaj

Designation :

Designated Partner

Address :

D-2/B, Jolly Highrise Apartment, 241-A, Pali Mala Road, Bandra [West], Mumbai – 400050, Maharashtra, India

Date of Appointment :

03.11.2012

DPIN No.:

06413184

 

 

CONTRIBUTION DETAILS

 

Names of Persons

 

Amount of Million

Sureshkumar Pansari

 

0.025

Priyanka Kapal Pansari

 

0.013

Varun Virendra Bajaj

 

0.012

 

 

 

Total

 

 

0.050

 

 

BUSINESS DETAILS

 

Line of Business :

Distributor of LED Lights.

 

 

Brand Names :

--

 

 

Agencies Held :

·         FSL

·         ADATA

·         CNHIDEE

·         FLUKE 

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers, Retailers and End Users 

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         HDFC Bank Limited

HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India

 

 

Facilities :

--

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Saurabh Shah

Chartered Accountant

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Total Obligation of Contribution

 

Rs. 0.050 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Contribution received

 

0.050

0.050

(b) Reserves & Surplus

 

0.000

0.000

(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)

 

0.050

0.050

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

 

14.003

5.543

(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)

 

14.003

5.543

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

0.000

0.000

(b) Trade payables

 

0.197

0.093

(c) Other current liabilities

 

1.029

0.005

(d) Short-term provisions

 

0.008

0.000

Total Current Liabilities (4)

 

1.234

0.098

 

 

 

 

TOTAL

 

15.287

5.691

 

 

 

 

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

 

0.000

0.000

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

1.325

3.915

(e) Other Non-current assets

 

0.000

0.000

Total Non-Current Assets

 

1.325

3.915

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

11.211

0.168

(c) Trade receivables

 

2.211

0.000

(d) Cash and cash equivalents

 

0.512

1.571

(e) Short-term loans and advances

 

0.000

0.000

(f) Other current assets

 

0.028

0.037

Total Current Assets

 

13.962

1.776

 

 

 

 

TOTAL

 

15.287

5.691

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

 

9.417

0.000

 

 

Other Income

 

0.092

0.065

 

 

TOTAL                                    

 

9.509

0.065

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases made for re-sale

 

17.622

0.168

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

(11.043)

(0.168)

 

 

Consumption of stores and spare parts

 

0.026

0.002

 

 

Power and Fuel

 

0.016

0.006

 

 

Personnel expense

 

1.815

0.128

 

 

Administrative expenses

 

0.067

0.079

 

 

Payment to auditors

 

0.059

0.005

 

 

Selling Expenses

 

0.159

0.000

 

 

Other Expenses

 

0.676

0.052

 

 

TOTAL                                    

 

9.397

0.272

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

 

0.112

(0.207)

 

 

 

 

 

Less

TAX                                                                 

 

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

 

0.112

(0.207)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

Current Maturities of Long term debt

 

NA

NA

 

 

 

 

Cash generated from operations

 

NA

NA

 

 

 

 

Net Cash flow from (used in) Operations

 

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

 

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)
 

1.19

0.00

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

0.73

(3.64)

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

2.24

(4.14)

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

280.06

110.86

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

11.31

18.12

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Share Capital

0.050

0.050

Reserves & Surplus

0.000

0.000

Money received against share warrants

0.000

0.000

Share Application money pending allotment

0.000

0.000

Net worth

0.050

0.050

 

 

 

Long-term borrowings

5.543

14.003

Short term borrowings

0.000

0.000

Total borrowings

5.543

14.003

Debt/Equity ratio

110.860

280.060

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

0.000

9.417

 

 

 

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

0.000

9.417

Profit/ (Loss)

(0.207)

0.112

 

 

1.19%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last two years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last two years

Yes

30

Major shareholders, if available

No

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10548793

26/12/2014

40,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL 
W, MUMBAI, MAHARASHTRA - 400013, INDIA

L02355501

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Unsecured Loans

14.003

5.543

 

 

 

Total

 

14.003

5.543

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No 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. 65.25

UK Pound

1

Rs. 102.25

Euro

1

Rs. 72.20

 

 

INFORMATION DETAILS

 

Information Gathered by :

KIN

 

 

Analysis Done by :

DIP

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

27

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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

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