MIRA INFORM REPORT
|
Report No. : |
338185 |
|
Report Date : |
25.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHRI SIDDHIVINAYAK ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Real Tech Park, Office No-1407, 14th Floor, Plot No-39/2, Sector-30A, Navi
Mumbai- 400705, Maharashtra |
|
Tel. No.: |
91-22-27813666 |
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|
|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
07.08.2006 |
|
|
|
|
Com. Reg. No.: |
11-163627 |
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|
Capital
Investment / Paid-up Capital : |
Rs. 142.852 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201MH2006PTC163627 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAKCS1004P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
To acquire, buy, purchase, lease, develop, renovate, improver
maintain, exchange or otherwise own lease, rent out Agriculture and
Non-agriculture lands, farms, properties states, buildings, hereditarnents,
residential accommodation, commercial and business premises, mills,
factories, chawls, dwelling houses, other immovable properties. |
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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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Management of the company has failed to file financial for the year
2014 with the Government Department. As per available financial of 2013, external borrowings of the company
seems to be huge. The company has incurred loss from its operations. 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.
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 : |
Ms. Shruti |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-27813666 |
|
Date : |
24.08.2015 |
LOCATIONS
|
Registered Office : |
Real Tech Park, Office No-1407, 14th Floor, Plot No-39/2, Sector-30A, Navi
Mumbai- 400705, Maharashtra, India |
|
Tel. No.: |
91-22-27813666 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Vinayak Subhash Sonavane |
|
Designation : |
Director |
|
Address : |
Plot No 4, Flat No 502, Sector 6, Airoli, Navi Mumbai-400708, Maharashtra, India |
|
Date of Birth/Age : |
16.12.1980 |
|
Date of Appointment : |
07.08.2006 |
|
DIN No.: |
02151130 |
|
|
|
|
Name : |
Mr. Vikrant Subhash Sonavane |
|
Designation : |
Director |
|
Address : |
14/524, Narayan Niwas, 52, Bunglow Society, Panvel, Navi Mumbai-410206, Thane, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1981 |
|
Date of Appointment : |
07.08.2006 |
|
DIN No.: |
02551042 |
KEY EXECUTIVES
|
Name : |
Ms. Shruti |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vinayak Subhash Sonavane |
|
691750 |
|
Vikrant Subhash Sonavane |
|
691750 |
|
Garnet Construction |
|
45026 |
|
Total |
|
1428526 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
96.84 |
|
Other top fifty shareholders |
3.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To acquire, buy, purchase, lease, develop, renovate, improver
maintain, exchange or otherwise own lease, rent out Agriculture and Non-agriculture
lands, farms, properties states, buildings, hereditarnents, residential
accommodation, commercial and business premises, mills, factories, chawls,
dwelling houses, other immovable properties. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Bank of India, MID Corporate Branch, Bank of India Building, Shivaji Path,, Thane - 400601, Maharashtra, India |
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Facilities : |
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Auditors : |
|
|
Name : |
Dargar and Company Chartered Accountants |
|
Address : |
58,Maharstra Bhavan,4th Floor Near Handloom House Bora Masjid Street, Fort, Mumbai 400001, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAHPD2444G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs.100/- each |
Rs. 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,428,520 |
Equity Shares |
Rs.10/- each |
Rs. 142.852
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
142.852 |
99.503 |
95.000 |
|
(b) Reserves & Surplus |
(124.360) |
(17.398) |
3.024 |
|
(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) |
18.492 |
82.105 |
98.024 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
209.722 |
237.653 |
217.685 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
178.670 |
75.803 |
30.760 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
388.392 |
313.456 |
248.445 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
4.986 |
|
(b) Trade
payables |
35.903 |
1.999 |
0.015 |
|
(c) Other current
liabilities |
7.154 |
3.909 |
0.000 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
43.057 |
5.908 |
5.001 |
|
|
|
|
|
|
TOTAL |
449.941 |
401.469 |
351.470 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
356.348 |
352.004 |
315.140 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
356.348 |
352.004 |
315.140 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
17.347 |
28.507 |
16.339 |
|
(c) Trade
receivables |
11.270 |
0.000 |
0.119 |
|
(d) Cash
and cash equivalents |
1.628 |
2.863 |
1.826 |
|
(e)
Short-term loans and advances |
47.964 |
1.614 |
1.614 |
|
(f) Other
current assets |
15.384 |
16.481 |
16.432 |
|
Total
Current Assets |
93.593 |
49.465 |
36.330 |
|
|
|
|
|
|
TOTAL |
449.941 |
401.469 |
351.470 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
12.799 |
31.991 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
86.261 |
30.834 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
(73.462) |
1.157 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
2.117 |
1.124 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
(75.579) |
0.033 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(106.961) |
(75.579) |
0.033 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
-- |
-- |
2.991 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(106.961) |
(75.579) |
3.024 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(74.87) |
(75.95) |
0.03 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
(590.51) |
0.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(18.83) |
0.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
(0.92) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
11.34 |
2.89 |
2.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17 |
8.37 |
7.26 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
95.000 |
99.503 |
142.852 |
|
Reserves & Surplus |
3.024 |
(17.398) |
(124.360) |
|
Net
worth |
98.024 |
82.105 |
18.492 |
|
|
|
|
|
|
long-term borrowings |
217.685 |
237.653 |
209.722 |
|
Short term borrowings |
4.986 |
0.000 |
0.000 |
|
Total
borrowings |
222.671 |
237.653 |
209.722 |
|
Debt/Equity
ratio |
2.272 |
2.895 |
11.341 |
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 |
No |
|
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 two years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
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 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10247600 |
30/08/2010 |
250,000,000.00 |
BANK OF INDIA |
THANE MID CORPORATE BANKING BRANCH, BANK OF INDIA BLDG, SHIVAJI
PATH,, THANE WEST, Maharashtra - 400601, INDIA |
A97040851 |
|
2 |
10247596 |
05/07/2012 * |
375,000,000.00 |
Thane MID Corporate Banking Branch, Shop no. G-5, Gr Floor, Akruti
SMC, Khopat Junction Off LBS Marg, Thane West, Maharashtra - 400601, INDIA |
B56647399 |
* Date of charge modification
FIXED ASSETS
- Land
- Factory building
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Computer
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.66.51 |
|
|
1 |
Rs.104.00 |
|
Euro |
1 |
Rs.54.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--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 |
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.