MIRA INFORM REPORT

 

 

Report No. :

337636

Report Date :

21.08.2015

 

IDENTIFICATION DETAILS

 

Name :

MBG COMMODITIES PRIVATE LIMITED

 

 

Registered Office :

6-2-902/C, 4th Floor, Maruthi Complex, Rajbhavan Road, Somajiguda, Hyderabad – 500082, Telangana

Tel. No.:

91-40-67330750

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

21.08.2012

 

 

Com. Reg. No.:

36-082575

 

 

Capital Investment / Paid-up Capital :

Rs. 530.000 Million

 

 

CIN No.:

[Company Identification No.]

U51101TG2012PTC082575

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAICM1188N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of trading of coal and providing Cargo Handling and Logistics Transportation

 

 

No. of Employees :

Not Divulged

 

 

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

 

Maximum Credit Limit :

USD 2100000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

Management of the company has failed to file its financial for the year 2014 with the government Department.

 

As per available financial 2013, Reserves of the company of the company seems to be low. Profitability of the company seems to be decent.

 

However, Trade relations are fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for business dealings with some cautions.

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

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 31-03-2013.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Akhil Sodhnani

Designation :

Account Executive

Contact No.:

91-40-67330750

Date :

20.08.2015

 

LOCATIONS

 

Registered Office :

6-2-902/C, 4th Floor, Maruthi Complex, Rajbhavan Road, Somajiguda, Hyderabad – 500082, Telangana, India

Tel. No.:

91-40-67330750

Fax No.:

91-40-67330699

E-Mail :

info@maheswaribrothers.com \mail@mbgcommodities.com

Website :

http://mbgcommodities.com

 

 

Branch Office :

1-81 Ganpathi Niwas, NCS Road, Srinivasa Nagar, Vizianagaram – 535001, Andhra PRadesh, India

 

 

DIRECTORS

 

As on 30.09.2013

 

Name :

Mr. Amitkumar Mandhani

Designation :

Director

Address :

11-113, MAruti Apartments, Somajiguda, Raj Bhavan Road, Hyderabad – 500029, Telangana, India

Date of Birth/Age :

16.06.1979

Date of Appointment :

21.08.2012

DIN No.:

00544006

 

 

Name :

Mr. Ashok Kumar Mandhani

Designation :

Director

Address :

Ganapati Nivas, 1-81, Behind NCS Theatre, Vizianagaram – 535003, Telangana, India

Date of Birth/Age :

16.09.1967

Date of Appointment :

21.08.2012

DIN No.:

00544070

 

 

Name :

Mr. Rajkumar Mandhani

Designation :

Director

Address :

7, Temple Street, New Avadi Road, Kilpauk, Chennai – 600010, Tamilnadu, India

Date of Birth/Age :

04.02.1957

Date of Appointment :

21.08.2012

DIN No.:

02104405

 

 

Name :

Anju Devi Mandhani

Designation :

Director

Address :

D. No. 6-3-856/A (357), 2nd floor, Ameerpet, Hyderabad – 500016, Telangana, India

Date of Birth/Age :

15.07.1962

Date of Appointment :

21.08.2012

DIN No.:

00302178

 

 

KEY EXECUTIVES

 

Name :

Mr. Akhil Sodhnani

Designation :

Account Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2013

 

Names of Shareholders

 

No. of Shares

Raj Kumar Mandhani

 

13500000

Ashok Kumar Mandhani

 

13000000

Amit Kumar Mandhani

 

1500000

Nirmala Devi Mandhani

 

2500000

Archana Devi Mandhani

 

4500000

Anju Devi Mandhani

 

17500000

Suchitra Putcha

 

500000

 

 

 

Total

 

53000000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2013

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of trading of coal and providing Cargo Handling and Logistics Transportation

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :
  • The Karur Vysya Bank Limited, Central Processing Cell (Loans), 5-8-363 to 365, First Floor, chirag Ali Lane, ABIDS, Hyderabad – 500001, Telangana, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

 

As on

31.03.2013

LONG TERM BORROWING

 

 

Other loan and advances

 

3.000

 

 

 

Total

 

3.000

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Somayajulu and Associates

Chartered Accountants

Address :

4-4-5, Srirama, Kothagraharam, m3rd Lane, Vizianagaram – 535001, Andhra Pradesh, India

PAN N Income-tax PAN of auditor or auditor's firm :

ABCFS0120Q

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :
  • Mandhani Carriers Private Limited
  • Global Coal and Mining Private Limited
  • Jahnavi and Avantika Mandhani Marrige Trust
  • Jahnavi and Dakshata Mandhani Edu.Trust
  • Mandhani Marrige Trust
  • Mandhani Securities Limited
  • Monisha and Avantika Mandhani Marrige Trust
  • Monisha and Dakshita Mandhani Marrige Trust
  • Monisha and Jahanavi Mandhani Edu.Trust

 

 

CAPITAL STRUCTURE

 

As on 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

75,000,000

Equity Shares

Rs.10/- each

Rs. 750.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

53,000,000

Equity Shares

Rs.10/- each

Rs. 530.000 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

530.000

(b) Reserves & Surplus

 

 

220.199

(c) Money received against share warrants

 

 

0.000

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Total Shareholders’ Funds (1) + (2)

 

 

750.199

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

574.035

(b) Deferred tax liabilities (Net)

 

 

0.065

(c) Other long term liabilities

 

 

0.000

(d) long-term provisions

 

 

0.000

Total Non-current Liabilities (3)

 

 

574.100

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

93.363

(b) Trade payables

 

 

11532.517

(c) Other current liabilities

 

 

133.391

(d) Short-term provisions

 

 

136.249

Total Current Liabilities (4)

 

 

11895.520

 

 

 

 

TOTAL

 

 

13219.819

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

11.340

(ii) Intangible Assets

 

 

0.000

(iii) Capital work-in-progress

 

 

0.000

(iv) Intangible assets under development

 

 

0.000

(b) Non-current Investments

 

 

2.405

(c) Deferred tax assets (net)

 

 

0.000

(d)  Long-term Loan and Advances

 

 

936.184

(e) Other Non-current assets

 

 

0.000

Total Non-Current Assets

 

 

949.929

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

0.000

(b) Inventories

 

 

1618.936

(c) Trade receivables

 

 

9464.617

(d) Cash and cash equivalents

 

 

909.534

(e) Short-term loans and advances

 

 

51.230

(f) Other current assets

 

 

225.573

Total Current Assets

 

 

12269.890

 

 

 

 

TOTAL

 

 

13219.819

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2013

 

SALES

 

 

 

 

Income

 

 

11674.225

 

Other Income

 

 

16.896

 

TOTAL

 

 

11691.121

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

 

 

11364.683

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

 

326.438

 

 

 

 

 

Less

TAX

 

 

106.240

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

 

220.198

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

 

 4.15

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

 

31.03.2013

Current Maturities of Long term debt

 

 

NA

Cash generated from operations

 

 

NA

Net cash flows from (used in) operations

 

 

(102.549)

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

 

 

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)
 

 

1.89

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

 

2.47

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

 

0.44

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 
 

 

0.89

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

1.03

 

 

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

Yes

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

No

26

Turnover of firm for last one year

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last one year

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

 

As on

31.03.2013

LONG TERM BORROWING

 

 

Loan and advances from related parties

 

571.035

 

 

 

SHORT TERM BORROWING

 

 

Intercorporate Borrowing

 

72.215

Loan and advances from related parties

 

21.148

Total

 

664.398

 

 

 

INDEX OF CHARGES:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10494764

18/03/2014

500,000,000.00

THE KARUR VYSYA BANK LIMITED

THE KARUR VYSYA BANK LIMITED, R P ROAD, SECUNDERA 
BAD, Andhra Pradesh - 500003, INDIA

C03159431

2

10401516

15/12/2012

500,000,000.00

THE KARUR VYSYA BANK LIMITED

CENTRAL PROCESSING CELL (LOANS), 5-8-363 TO 365,, 
FIRST FLOOR, CHIRAG ALI LANE, ABIDS, HYDERABAD, Andhra Pradesh - 500001, INDIA

B67456020

3

10381689

18/07/2014 *

3,910,000,000.00

THE KARUR VYSYA BANK LIMITED

# 5-2-176, R P ROAD, SECUNDERABAD, Telangana - 50 
0003, INDIA

C18693606

 

*Date of charge modification

 

 

FIXED ASSETS

  • Buildings
  • Furniture and fixtures
  • Motor vehicles
  • Office Equipment
  • Computer equipments

 

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 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.65.24

UK Pound

1

Rs.102.21

Euro

1

Rs.72.57

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

RAS

 

 

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

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

2

--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

 

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.