MIRA INFORM REPORT
|
Report No. : |
355977 |
|
Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHIVAM PETROCHEM |
|
|
|
|
Registered
Office : |
A/404 Shree Krishna, Poisar Gymkhana Road, Mahavir Nagar, Kandivali
(West), Mumbai – 400067, Maharashtra |
|
Tel. No.: |
91-22-28998418 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Year of
Establishment: |
1999 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.355 Million |
|
|
|
|
TIN No.: |
27660249166V |
|
|
|
|
IEC No.: |
0310006228 (As confirmed by the management, that currently subject is not
undertaking export and import activities of its products. However, the
subject has acquired IEC certification to start its export and import
activities in near future.) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
ALZPS4740B |
|
|
|
|
Legal Form : |
Sole Proprietary Concern. |
|
|
|
|
Line of Business
: |
Trader of Chemicals such as Toluene, Tetrahydrofuran, Dimethyl Formamide,
N-Butanol, Acetone, Cyclo Hexane, Methanol, Caustic Potash Flakes, Soda Ash,
Xanthan Gum. (Confirm by the management) |
|
|
|
|
No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a proprietorship concern established in the year 1999. It
is having satisfactory track. As per the available financials of the year 2015, the concern has reported
decrease in its sales turnover, however increase in net profit leading to
fair profit margin. Further, the concern has slightly high debt level in the
year under consideration. However the subject is in good liquidity position with its total current
liabilities well covered by its total current assets. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of long track record of business operations, the concern can
be considered for business dealings with usual trade terms and conditions. |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Himanshu Ramesh Sheth |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9820001071/ 9223370201 |
LOCATIONS
|
Registered Office : |
A/404 Shree Krishna, Poisar Gymkhana Road, Mahavir Nagar, Kandivali
(West), Mumbai - 400067, Maharashtra, India |
|
Tel. No.: |
91-22-28998418 |
|
Mobile No.: |
91-9820001071/ 9223370201 (Mr. Himanshu Ramesh Sheth) |
|
Fax No.: |
91-22-28998418 |
|
E-Mail : |
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|
Website : |
|
|
Area : |
600 Sq. Ft. |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Branch Office : |
D-309, Shiv Darshan, Shimpoli Road, Borivali (West), Mumbai – 400092,
Maharashtra, India |
SOLE PROPRIETOR
|
Name : |
Mr. Himanshu Ramesh Sheth |
|
Designation : |
Proprietor |
|
Address : |
D-309, Shiv Darshan, Shimpoli Road, Kastur Park, Borivali (East),
Mumbai – 400092, Maharashtra, India |
|
Date of Birth/Age : |
06.02.1974 |
|
Qualification : |
B.Com |
|
Experience : |
17 Years |
|
PAN No.: |
ALZPS4740B |
BUSINESS DETAILS
|
Line of Business : |
Trader of Chemicals such as Toluene, Tetrahydrofuran, Dimethyl
Formamide, N-Butanol, Acetone, Cyclo Hexane, Methanol, Caustic Potash Flakes,
Soda Ash, Xanthan Gum. (Confirm by the management) |
|
|
|
|
Products : |
|
|
|
|
|
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 : |
|
|
Selling : |
L/C, Cash and Credit (30/ 60/
90 Days) |
|
|
|
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Purchasing : |
Cash and Credit (30/ 60/ 90 Days) |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
5 (Approximately) |
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Bankers : |
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Facilities : |
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|
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|
Auditors : |
|
|
Name : |
Rashmee and Associates Chartered Accountants |
|
Tel No.: |
91-22-22630438 |
|
Mobile No.: |
91-9819998221 |
|
Fax No.: |
91-22-22630438 |
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E-Mail: |
|
|
Memberships No.: |
17933 |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern: |
Not Divulged |
CAPITAL STRUCTURE
As on 31.03.2015
|
Capital Investment : |
Amount (Rs.
In Million) |
|
Proprietor’s Capital A/C |
|
|
Shri Himanshu Ramesh
Sheth |
|
|
Opening Balance |
3.639 |
|
Add: Net Profit |
1.152 |
|
Dividend |
0.044 |
|
SB Account
Transfer |
0.148 |
|
|
4.983 |
|
Less: Withdrawals |
0.211 |
|
L.I.P. |
0.044 |
|
TDS |
0.035 |
|
Donation |
0.001 |
|
HSG Loan Interest (BOB) |
0.337 |
|
|
0.628 |
|
Closing Balance |
4.355 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
4.355 |
3.639 |
3.423 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.355 |
3.639 |
3.423 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.341 |
4.021 |
3.640 |
|
|
2] Unsecured Loans |
7.067 |
3.994 |
3.340 |
|
|
TOTAL BORROWING |
11.408 |
8.015 |
6.980 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
15.763 |
11.654 |
10.403 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.180 |
7.040 |
6.669 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.456 |
0.419 |
0.314 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.441 |
3.145 |
10.831 |
|
|
Sundry Debtors |
21.490 |
19.975 |
21.703 |
|
|
Cash & Bank Balances |
0.054 |
0.450 |
0.517 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
0.460
|
0.867
|
2.045
|
|
Total
Current Assets |
23.445
|
24.437
|
35.096
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.463 |
19.562 |
|
|
|
Other Current Liabilities and Provisions |
0.855
|
0.680
|
31.676
|
|
Total
Current Liabilities |
15.318
|
20.242
|
31.676
|
|
|
Net Current Assets |
8.127
|
4.195
|
3.420
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
15.763 |
11.654 |
10.403 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
66.624 |
70.588 |
70.952 |
|
|
Other Income |
0.564 |
0.186 |
0.778 |
|
|
TOTAL
|
67.188 |
70.774 |
71.730 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
63.089 |
66.817 |
68.263 |
|
|
Administrative Expenses |
1.124 |
1.261 |
0.998 |
|
|
Selling and Distribution
Expenses |
1.531 |
1.607 |
1.220 |
|
|
TOTAL
|
65.744 |
69.685 |
70.481 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1.444 |
1.089 |
1.249 |
|
|
|
|
|
|
|
Less |
INTEREST
AND BANK CHARGES |
0.266 |
0.071 |
0.228 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.178 |
1.018 |
1.021 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.026 |
0.015 |
0.030 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.152 |
1.003 |
0.991 |
|
|
|
|
|
|
|
|
TAX |
0.089 |
0.120 |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LSS) AFTER TAX |
1.063 |
0.883 |
NA |
Expected Sales ( 2015 - 2016 ) : Rs.180.000 Million
The above information has been parted by Mr. Himanshu Ramesh Sheth
(Proprietor).
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.73 |
1.42 |
1.40 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.17 |
1.54 |
1.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.91 |
4.10 |
2.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.28 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.62 |
2.20 |
2.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53 |
1.21 |
1.11 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
3.423 |
3.639 |
4.355 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3.423 |
3.639 |
4.355 |
|
|
|
|
|
|
Secured Loans |
3.640 |
4.021 |
4.341 |
|
Unsecured Loans |
3.340 |
3.994 |
7.067 |
|
Total
borrowings |
6.980 |
8.015 |
11.408 |
|
Debt/Equity
ratio |
2.039 |
2.203 |
2.620 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
70.952 |
70.588 |
66.624 |
|
|
|
(0.513) |
(5.616) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
70.952 |
70.588 |
66.624 |
|
Profit Before |
0.991 |
1.003 |
1.152 |
|
|
1.40% |
1.42% |
1.73% |
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 |
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 three 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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Aarya Industrial Products Private Limited |
4.010 |
|
|
Bajaj Finanace |
0.004 |
|
|
Chetna D. Sanghavi |
0.196 |
0.196 |
|
Falguni Himanshu Mehta |
0.020 |
0.000 |
|
Hem Plast |
0.400 |
0.000 |
|
Hemal Mehta |
0.050 |
0.050 |
|
Jay Sheth |
0.020 |
0.000 |
|
Keyur Doshi |
0.019 |
0.000 |
|
N Senthil Raja |
0.196 |
0.068 |
|
Paresh Mehta |
0.148 |
0.107 |
|
Ramesh J. Sheth |
2.004 |
3.517 |
|
Neela Ramesh Sheth |
|
0.056 |
|
Total |
7.067 |
3.994 |
FIXED ASSETS
- Flat
- Furniture
- Television
- Ornaments
- Mobile Phone
- Computer and Printer
- Fax Machine
- Air Conditioner
- Furniture and Fixture
- Motor Bike
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 records 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.66.84 |
|
|
1 |
Rs.100.57 |
|
Euro |
1 |
Rs.73.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
43 |
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.