MIRA INFORM REPORT

 

 

Report No. :

356153

Report Date :

21.12.2015

 

IDENTIFICATION DETAILS

 

Name :

DIN DAYAL PURSHOTTAM LAL

 

 

Registered Office :

CC III, 40-41, Janta Bhawan Road, Post Box-35, Sirsa – 125055, Haryana

Tel. No.:

91-1666-220628 / 280206

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Year of Establishment :

1971

 

 

Capital Investment :

Not Divulged

 

 

IEC No.:

3303003734

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACFD0107B

 

 

Legal Form :

Partnership Concern with an Unlimited Liability of the Partners

 

 

Line of Business :

Trader and Exporter of Cotton. (Confirmed by management)

 

 

No. of Employees :

40 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

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 is an established partnership concern started in the year 1971 having moderate track.

 

It is engaged in the business as trader and exporter of cotton.

 

Turnover of the concern has declined during FY 2015.

 

The rating further takes into consideration highly fragmented cotton industry, fluctuation in cotton price and foreign exchange rates.

 

Their trade relations are reported as fair. Business is active. Payments are reported as slow but correct.

 

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

 

Rating Agency Name

CRISIL

Rating

Cash Credit = B+

Rating Explanation

High risk of default.

Date

August, 2015

 

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. Raju Sharma

Designation :

Chief Manager in Accounts

Contact No.:

91-1666-220628

 

 

LOCATIONS

 

Registered Office :

CC III, 40-41, Janta Bhawan Road, Post Box-35, Sirsa – 125055, Haryana, India

Tel. No.:

91-1666-220628 / 280206

Fax No.:

91-1666-234056

E-Mail :

ddplcott@gmail.com

Website :

http://www.ddplcott.com

Location :

Owned

 

 

Branch Office 1 :

73, Swastik Society, 2nd, Floor M- Square Building, Off C.G.Road, Ahmedabad-380009,  Gujarat India

Tel No.:

91-79-64506470 / 64506480

Fax No.:

91-79-26420520

 

 

Branch Office 2 :

Above Northern India Cotton Association, Nai Basti, Gali No. 6 Bhatinda - 151001, Punjab India

Tel No.:

91-164-227945

Fax No.:

91-79-26420520

 

 

Branch Office 3 :

Shagun, 3rd Floor, 37-38 Old Dhan Mandi, Sri Ganaganagar - 335001, Rajasthan India

Tel No.:

91-154-2440391

Fax No.:

91-154-2441793

 

 

Branch Office 4 :

Plot No. 660, Udhyog Vihar, Phase 5, Gurgaon – 122016,  Haryana, India

Tel. No.:

91-124-4979797

Fax No.:

91-124-4067700

 

 

PARTNERS

 

Name :

Mr. Lalit Mohan Shraddha

Designation :

Partner

 

 

Name :

Mr. Mahesh Shraddha

Designation :

Partner

 

 

Name :

Mr. Pankaj Shraddha

Designation :

Partner

 

 

KEY EXECUTIVES

 

Name :

Mr. Raju Sharma

Designation :

Chief Manager in Accounts

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Exporter of Cotton. (Confirmed by management)

 

 

Products :

Cotton

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished goods

Countries :

·         China

·         Pakistan

·         Vietnam

·         Hong Kong

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

Customers :

Wholesalers, Manufacturer, OEM’s and End Users

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

No. of Employees :

40 (Approximately)

 

 

Bankers :

Bank Name:

Punjab National Bank

Branch:

Ashram Road, Ahmedabad, Gujarat, India

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

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

 

Auditors :

 

Name :

Badladiya and Company

Chartered Accountants

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister Concerns:

Shraddha Cotton Factory

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Not Divulged

Borrowed :

Not Divulged

Total :

Not Divulged

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

Sales Turnover (Approximately)

5000.000

6280.000

6900.000

 

(Due to fluctuation in cotton price)

 

The above information has been parted by Mr. Raju Sharma (Chief Manager in Accounts).

 

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

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 Turnover (Approximately)

6900.000

6280.000

5000.000

 

 

(8.986)

(20.382)

 

 

 

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

No

10

Date of Birth of Proprietor / Partners / Directors

No

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

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

No

25

Last accounts filed at ROC, if applicable

No

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

Yes

28

Estimation for coming financial year

No

29

Profitability for last three years

No

30

Major shareholders, if available

No

31

External Agency Rating, if available

Yes

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.62.42

UK Pound

1

Rs.99.17

Euro

1

Rs.72.13

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

PNM

 

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

30

 

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.