MIRA INFORM REPORT

 

 

Report No. :

355610

Report Date :

19.12.2015

 

IDENTIFICATION DETAILS

 

Name :

P.P. MINEMET

 

 

Registered Office :

B-802, Satellite Tower, Film City Road, Goregaon (East), Mumbai-400063, Maharashtra

Tel. No.:

91-22-40037227

 

 

Country :

India

 

 

Financials (as on) :

30.09.2015 (Provisional)

 

 

Year of Establishment :

2013

 

 

Capital Investment :

Rs. 1.753 Million

 

 

IEC No.:

0312011938

 

 

PAN No.:

[Permanent Account No.]

AEAPS9053H

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Trader of Ferrous and Non Ferrous Scrap Metal, Mill Scale and Lime. (Confirmed by Management)

 

 

No. of Employees :

04 (Approximately)

 

 

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

 

 

Litigation :

--

 

 

Comments :

Subject is a proprietary concern established in the year 2013. It has moderate track.

 

Mr. Narendra Modi, Manager has provided all the information and claimed that the concern has achieved turnover of Rs. 18.041 million in the year 2015, which are the provisional financials and could not be verified.

 

Business is active. Payments are slow.

 

In view of limited business track, 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

 

 

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. Narendra Somani

Designation :

Manager

Contact No.:

91-9619653377

Date :

17.12.2015

 

 

LOCATIONS

 

Registered Office :

B-802, Satellite Tower, Film City Road, Goregaon (East), Mumbai-400063, Maharashtra, India

Tel. No.:

91-22-40037227

Mobile No.:

91-9619653377 (Mr. Narendra Somani)

Fax No.:

Not Available

E-Mail :

ppminemet@gmail.com

Location :

Owned

Locality :

Residential

 

 

SOLE PROPRIETOR

 

Name :

Mrs. Uma Somani

Designation :

Proprietor

Address :

B-802, Satellite Tower, Film City Road, Goregaon (East), Mumbai-400063, Maharashtra, India

Date of Birth/Age :

42 Years

Qualification :

B. Com and Computer Diploma

PAN No:

AEAPS9053H

 

 

KEY EXECUTIVES

 

Name :

Mr. Narendra Somani

Designation :

Manager

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Ferrous and Non Ferrous Scrap Metal, Mill Scale and Lime. (Confirmed by Management)

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

--

Countries :

--

 

 

Terms :

 

Selling :

Credit (30 days)

 

 

Purchasing :

Cash

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Jagetiya and Company

Name of the Person (Designation):

Mr. Ramesh Jagetiya (Partner)

Contact Number:

91-9869469224

Since how long known:

1.5 Years

Maximum limit dealt:

Not Divulged

Experience:

Payment Behaviour

Market Goodwill

Overall

Good

Good

Good

Remark

As claimed by Mr. Ramesh (Partner) that he is satisfied with subject company.

 

 

Customers :

End Users

 

Reference:

Mahalaxmi TMT Private Limited

Name of the Person (Designation):

Mr. Ladulal Soni (Vice President in Finance)

Contact Number:

91-9867651000

Since how long known:

1.5 Years

Maximum limit dealt:

Rs. 20.000 Million (Approximately)

Experience:

Payment Behaviour

Market Goodwill

Overall

Good

Good

Good

Remark

As claimed by Mr. Ladulal Soni (Vice President in Finance) that he is satisfied with subject company.

 

 

No. of Employees :

04 (Approximately)

 

 

Bankers :

Bank Name:

ICICI Bank Limited

Branch:

Shagun, Mall, Film City Road, Goregaon (East), Mumbai-400063, Maharashtra, India

Person Name (with Designation):

Not Divulged

Contact Number:

91-22-67574322 (Ringing)

Name of Account Holder:

028105500128 (Not Confirmed by bankar)

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks: Not Divulged

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Ramesh Toshniwal

Chartered Accountant

Address :

Navjivan Society, Grant Road, Mumbai, Maharashtra, India

Mob. No:

91-9819080571

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2015 (Provisional)

 

Capital Investment :

 

Owned :

Rs. 1.753 Million

Borrowed :

--

Total :

Rs. 1.753 Million

 

 

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 Records.

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

30.09.2015

(Provisional)

31.03.2015

SHAREHOLDERS FUNDS

 

 

 

1] Proprietor Capital Account

 

1.753

0.602

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

0.000

0.000

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

1.753

0.602

LOAN FUNDS

 

 

 

1] Secured Loans

 

0.000

0.000

2] Unsecured Loans

 

3.701

0.508

TOTAL BORROWING

 

3.701

0.508

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

5.454

1.110

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

0.144

0.144

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.000

0.000

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

 

0.000

0.000

 

Sundry Debtors

 

5.448

0.000

 

Cash & Bank Balances

 

0.266

0.246

 

Other Current Assets

 

0.000

0.000

 

Loans & Advances

 

3.566

0.750

Total Current Assets
 
9.280

0.996

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors

 

0.000

0.000

 

Other Current Liabilities

 
3.970
0.030

 

Provisions

 

0.000

0.000

Total Current Liabilities
 
3.970

3.970

Net Current Assets
 
5.310

0.966

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

5.454

1.110

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

30.09.2015

(Provisional)

31.03.2015

 

SALES

 

 

 

 

 

Sales

 

18.042

0.000

 

 

Other Income

 

0.574

0.911

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

Cost of Goods Sold

 

15.685

0.000

 

 

Administrative Expenses

 

1.644

0.409

 

 

Interest

 

0.137

0.000

 

 

 

 

 

 

PROFIT BEFORE TAX

 

NA

NA

 

 

 

 

 

 

TAX                                                                 

 

NA

NA

 

 

 

 

 

 

PROFIT AFTER TAX

 

NA

NA

 

 

 

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

Yes

17

Details of sister concerns

No

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

Yes

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

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 two years

No

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, India Prisons Service, Interpol, etc.

 

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. 66.42

UK Pound

1

Rs. 99.17

Euro

1

Rs. 72.14

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

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

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

 

--

 

 

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.