|
Report No. : |
353753 |
|
Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
VEENA ENTERPRISE |
|
|
|
|
Registered
Office : |
A-102, Shubhakamna, Mahavir Nagar, Gaothan Market Road, Kamala Vihar
Sports Club, Kandivali (West), Mumbai – 400067, Maharashtra |
|
Tel. No.: |
91-22-28640469 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Year of Establishment
: |
November 2014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.712 Million |
|
|
|
|
IEC No.: |
Not Applicable (As claimed by company management that
company does not export and import) |
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|
|
|
TIN No.: |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AMEPS2763R |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Subject is engaged into civil construction activities.(Confirmed by management ) |
|
|
|
|
No. of Employees
: |
Approximately (25 Staff and 150 Contract Labour) |
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 was established on November 2014 and it is having moderate track
record. It has started its business activities from the date it got
established. Mr. Manoj, Chief Executive Officer of the concern has provided the
information to us and also claimed that it has started its operation from
November, 2014. As per audited financial of 2015, the concern has achieved Rs.10.000
Million sales turnover and Net Profit Rs.0.622 Million. (For the period from
November, 2014 – March, 2015) However, trade relations are improving. Business is active. Payments
terms are slow but correct. In view of aforesaid, 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.
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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Manoj |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9820804941 |
|
Date : |
10.12.2015 |
LOCATIONS
|
Registered Office : |
A-102, Shubhakamna, Mahavir Nagar, Gaothan Market Road, Kamala Vihar
Sports Club, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Tel. No.: |
91-22-28640469 |
|
Mobile No.: |
91-9820804941 (Mr. Manoj) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
565 Sq. Ft. |
|
Location : |
Owned |
|
Locality : |
Residential |
SOLE PROPRIETOR
|
Name : |
Mrs. Veena Manoj Savani |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
47 Years |
|
Qualification : |
B.Com |
|
Experience : |
17 Years |
KEY EXECUTIVES
|
Name : |
Mr. Manoj |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into civil construction activities.(Confirmed by management ) |
|
|
|
|
Products / Services : |
Civil Construction |
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|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cheque |
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|
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Purchasing : |
Cheque |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Approximately (25 Staff and 150 Contract Labour) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
K. Kumar Jain and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
Membership No. : |
075754 |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Parent Company : |
Tulsi Enterprises |
CAPITAL STRUCTURE
As on 31.03.2015
|
Capital Account |
Rs.
In Million |
|
Opening Balance |
0.614 |
|
Add: LIC Money Back |
0.057 |
|
Add: Profit during the year |
0.623 |
|
|
1.294 |
|
Less: Drawings |
0.291 |
|
School Fees |
0.100 |
|
LIP |
0.191 |
|
Total |
0.712 |
FINANCIAL DATA
[all figures are
in Rupees Million]
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2015 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
|
|
0.712 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.712 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
4.951 |
|
|
TOTAL BORROWING |
|
|
4.951 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5.663 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
3.613 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.880 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
3.798 |
|
|
Cash & Bank Balances |
|
|
3.336 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.070 |
|
Total
Current Assets |
|
|
7.204 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
5.717 |
|
|
Other Current Liabilities and Provisions |
|
|
0.317 |
|
Total
Current Liabilities |
|
|
6.034 |
|
|
Net Current Assets |
|
|
1.170 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5.663 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Civil Work |
|
|
6.427 |
|
|
Work in Progress |
|
|
3.613 |
|
|
Term Deposit Interest |
|
|
0.003 |
|
|
TOTAL |
|
|
10.043 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchase of Materials |
|
|
8.557 |
|
|
Labour Charges Paid |
|
|
0.639 |
|
|
Audit Fees |
|
|
0.025 |
|
|
Bank Charges |
|
|
0.004 |
|
|
General Expenses |
|
|
0.025 |
|
|
Telephone Expenses |
|
|
0.015 |
|
|
Travelling Expenses |
|
|
0.048 |
|
|
Office Expenses |
|
|
0.042 |
|
|
Conveyance |
|
|
0.066 |
|
|
TOTAL |
|
|
9.421 |
|
|
|
|
|
|
|
|
NET
PROFIT |
|
|
0.622 |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2015 |
|
Net Profit Margin (PAT/Sales) |
(%) |
|
|
6.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
7.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.87 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
6.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.74 |
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 |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 one year and
about 4 Months |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year and about
4 Months |
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 |
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 records 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.66.99 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.73.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
KYP |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.