MIRA INFORM REPORT
|
Report No. : |
357652 |
|
Report Date : |
29.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
BASANT MARKETING PRIVATE LIMITED |
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|
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Registered
Office : |
Imex Lohia Square, Office No. 4B, 4th Floor, Premises No.
23, Kolkata – 700012, West Bengal |
|
Mobile. No.: |
91-22-31909029 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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|
|
Date of
Incorporation : |
06.05.1982 |
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|
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Com. Reg. No.: |
21-034865 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.136.468 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32106WB1982PTC034865 |
|
|
|
|
IEC No.: |
Not Divulged |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALB01955C |
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|
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PAN No.: [Permanent Account No.] |
AABCB3077A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Iron Steel Angles, Plates, Bars, Aluminium Foil Fertilizers.
(Confirmed by management) |
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No. of Employees
: |
21 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum credit limit : |
USD 8800000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Basant Marketing Private Limited was incorporated in the year 1982 and
it is having a moderate track record. As per our old investigation with the subject company, Mr. Rajesh
Mehta. Chief Executive Officer has provided information and informed us, that
there was no business in the company from past 2 years due to internal conflicts
but they have again started its operations from April 28, 2014. As per available financial for the year ended 2015, the company
possess moderate financial profile along with decent capital structure and
debt coverage indicators. The company has achieved healthy sales turnover from its operation and
reported loss during FY-15. In view of aforesaid, the company can be considered for business
dealing 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 |
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. Rajesh Mehta |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9920756677 |
|
Date : |
24.12.2015 |
LOCATIONS
|
Registered Office : |
Imex Lohia Square, Office No. 4B, 4th Floor, Premises No.
23, Kolkata – 700012, West Bengal, India |
|
Tel. No.: |
91-22-31909029 |
|
Mobile No.: |
91-9920756677 (Mr. Rajesh) |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Area : |
400 Sq. Ft. |
|
Location : |
Leased |
|
Locality : |
Commercial |
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Warehouse : |
Located at :
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Branch Office 1 : |
1009, Maker Chember, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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Branch Office : |
Also Located At
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DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Bhavesh Ramesh Vora |
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Designation : |
Director |
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Address : |
A/702, Vasant Sadhna CHS, Mahavir Nagar, Dhanukar Wadi, Kandivali (West), Mumbai – 400067, Maharashtra, India |
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Date of Appointment : |
11.01.2013 |
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DIN No.: |
02365683 |
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Other
Directorship:
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Name : |
Mrs. Seema Pradeep Jadhav |
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Designation : |
Director |
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Address : |
B 01 Charkop Ekdant CHS, Plot No 835, RSC 24 Sector 8, Charkop Kandivali West, Mumbai - 400067, Maharashtra, India |
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Date of Appointment : |
17.09.2014 |
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DIN No.: |
03332022 |
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Other Directorship
:
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KEY EXECUTIVES
|
Name : |
Mr. Rajesh Mehta |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Lien Trading Private Limited, India (As assignee of HFCL) |
|
2811660 |
|
Dalmia Kumar Harsh |
|
100000 |
|
Lien Trading Private Limited, India (As Assignee of HFCL Kongsung Telecom Private Limited, India) |
|
80000 |
|
HFCL Infotel Limited, India, India |
|
200000 |
|
Parth Trade Links Private Limited, India, India |
|
175124 |
|
Arun Kumar Dalmia HUF |
|
400000 |
|
Raneka Industrial Limited, India |
|
35920 |
|
Pref Watermark Financial Consultant Limited, India |
|
359300 |
|
Indigo Edutainment Private Limited, India |
|
256192 |
|
Dalmia Devi Renu |
|
200000 |
|
Watermark System India Private Limited, India |
|
300000 |
|
Dalmia Kumar Rishabh |
|
100000 |
|
Dalmia Purshottam Satyabhama |
|
1076 |
|
VRB Capital Services India Private Limited, India |
|
1670431 |
|
Dalmia Kumar Ashok |
|
100 |
|
Database Software Technology Private Limited, India |
|
6957020 |
|
Total |
|
13646823 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
94.13 |
|
Others |
5.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Iron Steel Angles, Plates, Bars, Aluminium Foil Fertilizers.
(Confirmed by management) |
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Products : |
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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 : |
Cash, Advance Payment, L/C and Credit (30 / 60 Days) |
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Purchasing : |
Cash, Advance Payment, L/C and Credit (30 / 60 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
21 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Sanjay N Shah and Company Chartered Accountants |
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Address : |
108, Sujata Niketan, Rani Sati Marg, Malad (East), Mumbai -.400097, Maharashtra, India |
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Tel. No.: |
91-22-28814240 |
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Mobile No.: |
91-9833879188 |
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E-Mail : |
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Website : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AVUPS1786L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13646823 |
Equity Shares |
Rs.10/- each |
Rs.136.468 Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
136.468 |
136.468 |
136.468 |
|
(b) Reserves & Surplus |
2957.833 |
2962.822 |
2987.318 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3094.301 |
3099.290 |
3123.786 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
306.309 |
0.400 |
28.085 |
|
(b) Trade payables |
741.286 |
8.939 |
294.628 |
|
(c) Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
0.309 |
0.264 |
0.249 |
|
Total
Current Liabilities (4) |
1047.904 |
9.603 |
322.962 |
|
|
|
|
|
|
TOTAL |
4142.205 |
3108.893 |
3446.748 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.035 |
12.301 |
14.584 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1071.474 |
1017.067 |
1648.945 |
|
(c) Deferred tax assets (net) |
1.069 |
0.922 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
23.109 |
|
Total
Non-Current Assets |
1083.578 |
1030.290 |
1686.638 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
383.857 |
383.857 |
383.857 |
|
(c) Trade receivables |
769.853 |
121.550 |
112.125 |
|
(d) Cash and cash equivalents |
3.193 |
1.954 |
1.655 |
|
(e) Short-term loans and
advances |
1901.724 |
1571.242 |
1262.473 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3058.627 |
2078.603 |
1760.110 |
|
|
|
|
|
|
TOTAL |
4142.205 |
3108.893 |
3446.748 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
919.171 |
0.000 |
0.000 |
|
|
Other Income |
0.217 |
0.000 |
0.000 |
|
|
TOTAL
(A) |
919.388 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
922.602 |
0.000 |
0.000 |
|
|
Other expenses |
0.597 |
0.020 |
0.021 |
|
|
TOTAL
(B) |
923.199 |
0.020 |
0.021 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(3.811) |
(0.020) |
(0.021) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.059 |
0.007 |
0.004 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(3.870) |
(0.027) |
(0.025) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1.266 |
2.283 |
1.340 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(5.136) |
(2.310) |
(1.365) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.147 |
(0.923) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(5.283) |
(1.387) |
(1.365) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.38) |
(0.10) |
23.00 |
Expected Sales (2015-2016) : Rs. 3000.000 Million
The above information has been parted by Mr. Rajesh Mehta (Chief
Executive Officer)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(0.57) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
|
(0.41) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.17) |
(0.11) |
(0.08) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.92 |
216.45 |
5.45 |
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 |
136.468 |
136.468 |
136.468 |
|
Reserves & Surplus |
2987.318 |
2962.822 |
2957.833 |
|
Net
worth |
3123.786 |
3099.290 |
3094.301 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
28.085 |
0.400 |
306.309 |
|
Total
borrowings |
28.085 |
0.400 |
306.309 |
|
Debt/Equity
ratio |
0.009 |
0.000 |
0.099 |
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 |
0.000 |
0.000 |
919.171 |
|
|
|
|
|
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 |
0.000 |
0.000 |
919.171 |
|
Profit |
(1.365) |
(1.387) |
(5.283) |
|
|
|
|
(0.57%) |
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 |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
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 |
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 |
INDEX
OF CHARGES : NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Furniture and
Fixture
- Office
Equipment
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.66.13 |
|
|
1 |
Rs.98.69 |
|
Euro |
1 |
Rs.72.55 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.