MIRA INFORM REPORT
|
Report No. : |
344882 |
|
Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
VBM CABLE CORPORATION |
|
|
|
|
Registered
Office : |
7-2-401, Mission School Street, R. P. Road, Secunderabad – 500003,
Telangana |
|
Mob. No.: |
91-9866551770 (Mr. Mukesh) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Year of
Establishment : |
2005 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 33.606 Million |
|
|
|
|
IEC No.: |
Not Applicable (As claimed by company management that
company does not export and import) |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHHM8873J |
|
|
|
|
Legal Form : |
Hindu Undivided Family [HUF] |
|
|
|
|
Line of Business
: |
Trading of Electrical Cables. [Confirmed by management] |
|
|
|
|
No. of Employees
: |
12 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
6700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established as Hindu Undivided Family in the year 2005 and
it is engaged in the trading business of electrical cables. For the financial year ended 2015, revenue of the firm has marginally
declined by 7.48% but it has able to maintained an average profit margin at
5.69% during the year under review. Rating takes into consideration firm’s established track record of
business operations marked by its average financial base and moderate debt
coverage indicators. Rating also takes into account of firm operating at small 900 sq. ft.
rented premises with staff strength of 12 employees. However, rating strength is partially offset by risk associated with
trading nature of business operations and intense competition from other
organized and unorganized players in the industry. Payments are reported to be slow but correct. In view of aforesaid, the firm can be considered for business dealings
at usual trade terms and condition. |
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
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Mukesh Patira |
|
Designation : |
Karta |
|
Contact No.: |
91-9866551770 |
|
Date : |
09.12.2015 |
LOCATIONS
|
Registered Office : |
7-2-401, Mission School Street, R. P. Road, Secunderabad – 500003,
Telangana, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9866551770 (Mr. Mukesh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
900 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Warehouse : |
Suchilra Junction, Secunderabad, Telangana, India |
|
Location : |
Rented |
HUF
|
Name : |
Mr. Mukesh Patira |
|
Designation : |
Karta |
|
Date of Birth / Age : |
14.03.1966 |
|
PAN No.: |
AGDPP2147E |
|
|
|
|
Name : |
Mrs. Vaishali Patira |
|
Designation : |
Member |
|
Address : |
3rd Floor, Sai Nivas, P G Road, Secunderabad, Telangana,
India |
|
PAN No.: |
BDYPP2386Q |
|
|
|
|
Name : |
Mr. Bhaviv Patira |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Mehul Patira |
|
Designation : |
Member |
|
Address : |
3rd Floor, Sai Nivas, P G Road, Secunderabad, Telangana,
India |
|
PAN No.: |
CPTPP9245Q |
BUSINESS DETAILS
|
Line of Business : |
Trading of Electrical Cables. [Confirmed by management] |
|
|
|
|
Products : |
Electrical Cables |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 / 60 Days) |
|
|
|
|
Purchasing : |
Credit (30 / 60 Days) |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Customers : |
End Users
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
No. of Employees : |
12 (Approximately) |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Gandhi and Gandhi Chartered Accountants |
|
Address : |
1002 Paigah Plaza, Basheerbagh, Hyderabad – 500063, Telangana, India |
|
Tel. No.: |
91-40-67018000 |
|
Fax No.: |
91-40-23237318 |
|
E-mail : |
|
|
Website : |
|
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Membership : |
Not Divulged |
|
|
|
|
Sister Concern : |
-- |
CAPITAL STRUCTURE
MUKESH G PATIRA –
HUF CAPITAL ACCOUNT
AS ON 31.03.2015
(Rs. In Million)
|
Particulars |
Amount
|
Particulars |
Amount
|
|
Drawings |
0.191 |
Balance B/F |
26.350 |
|
|
|
Profit for the year |
7.447 |
|
Balance C/F |
33.606 |
|
|
|
|
|
|
|
|
TOTAL |
33.797 |
TOTAL |
33.797 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2015 |
31.03.2014 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
33.606 |
26.350 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
33.606 |
26.350 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1.950 |
1.516 |
|
|
2] Unsecured Loans |
|
6.115 |
4.615 |
|
|
TOTAL BORROWING |
|
8.065 |
6.131 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
41.671 |
32.481 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.147 |
0.178 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
31.882 |
40.210 |
|
|
Sundry Debtors |
|
37.218 |
37.406 |
|
|
Cash & Bank Balances |
|
0.362 |
0.068 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans, Advances & Deposits |
|
1.377 |
2.730 |
|
Total
Current Assets |
|
70.839 |
80.414 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
28.479 |
47.516 |
|
|
Other Current Liabilities |
|
0.836 |
0.595 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
29.315 |
48.111 |
|
|
Net Current Assets |
|
41.524 |
32.303 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
41.671 |
32.481 |
|
PROFIT
& LOSS ACCOUNT
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
150.000 |
|
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
130.840 |
141.431 |
|
|
|
Other Income |
|
0.164 |
0.057 |
|
|
|
TOTAL |
|
131.004 |
141.488 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Direct expenses |
|
112.215 |
133.239 |
|
|
|
Cost of goods sold |
|
8.329 |
(1.715) |
|
|
|
Bank Charges |
|
0.004 |
0.004 |
|
|
|
Commission & Sales Promotion |
|
0.335 |
0.334 |
|
|
|
Electricity Charges |
|
0.004 |
0.005 |
|
|
|
Insurance |
|
0.043 |
0.044 |
|
|
|
Loan processing charges |
|
0.037 |
0.034 |
|
|
|
Office Maintenance |
|
0.073 |
0.066 |
|
|
|
Postage & Telegram |
|
0.008 |
0.005 |
|
|
|
Printing & Stationery |
|
0.014 |
0.010 |
|
|
|
Professional Tax |
|
0.003 |
0.000 |
|
|
|
Rent |
|
0.407 |
0.411 |
|
|
|
Salaries |
|
1.553 |
1.406 |
|
|
|
Telephone Charges |
|
0.023 |
0.017 |
|
|
|
Travelling expenses |
|
0.005 |
0.031 |
|
|
|
Vehicle Maintenance |
|
0.001 |
0.003 |
|
|
|
TOTAL |
|
123.054 |
133.894 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST AND DEPRECIATION |
|
7.950 |
7.594 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.473 |
0.466 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE DEPRECIATION |
|
7.477 |
7.128 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION |
|
0.030 |
0.036 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
7.447 |
7.092 |
|
Expected Sales (2015-2016): Rs.160.000 Million
The above information has been parted by Mr. Mukesh
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2015 |
31.03.2014 |
|
Net Profit Margin PAT / Sales |
(%) |
|
5.69 |
5.01 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
|
6.08 |
5.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
|
10.49 |
8.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.22 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.24 |
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.42 |
1.67 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2014 |
31.03.2015 |
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
|
26.350 |
33.606 |
|
Reserves & Surplus |
|
0.000 |
0.000 |
|
Net
worth |
|
26.350 |
33.606 |
|
|
|
|
|
|
Secured Loans |
|
1.516 |
1.950 |
|
Unsecured Loans |
|
4.615 |
6.115 |
|
Total
borrowings |
|
6.131 |
8.065 |
|
Debt/Equity
ratio |
|
0.233 |
0.240 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2014 |
31.03.2015 |
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Sales |
|
141.431 |
130.840 |
|
|
|
|
(7.488) |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2014 |
31.03.2015 |
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Sales
|
|
141.431 |
130.840 |
|
Profit |
|
7.092 |
7.447 |
|
|
|
5.01% |
5.69% |
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 |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last two 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2015 Rs.
In Million |
31.03.2014 Rs.
In Million |
|
|
|
|
|
Alka H Patira |
0.000 |
0.500 |
|
Bhavik M Patira |
1.375 |
1.275 |
|
Gunvantray Patira HUF |
0.500 |
0.000 |
|
Manjari |
0.200 |
0.200 |
|
Mansi Shah |
0.050 |
0.050 |
|
Mehul Patira |
0.490 |
0.490 |
|
Rajesh G Patira |
0.200 |
0.200 |
|
Rajesh Patira - HUF |
0.100 |
0.100 |
|
Vaishali Patira |
3.200 |
1.800 |
|
|
|
|
|
Total |
6.115 |
4.615 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME
ASSESSMENT YEAR
2015-2016
YEAR ENDED
31.03.2015
(RS. IN MILLION)
|
PARTICULARS |
Amount |
|
|
|
|
|
|
INCOME FROM BUSINESS AND PROFESSION
|
|
|
|
Net Profit as per Profit & Loss A/c of M/s VBM Cable Corporation |
|
7.447 |
|
Gross Total lncome |
|
7.447 |
|
|
|
|
|
Total lncome |
|
7.447 |
|
|
|
|
|
Tax thereon |
|
2.059 |
|
|
|
|
|
Add : Education Cess @ 3% |
|
0.062 |
|
|
|
2.121 |
|
|
|
|
|
Less : TDS |
|
0.117 |
|
|
|
2.004 |
|
|
|
|
|
Less : Advance Tax paid |
|
|
|
|
|
|
|
September |
0.700 |
|
|
December |
0.700 |
|
|
March |
0.600 |
|
|
|
|
2.000 |
|
Total paid u/s 140A |
|
0.004 |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
·
Furniture
·
Vehicles
·
Mobile Phone
·
Air Conditioner
·
Computers
·
Printer
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.66.79 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.73.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.