MIRA INFORM REPORT

 

 

 

 

Report No. :

306335.2

Report Date :

09.02.2015

 

IDENTIFICATION DETAILS

 

Name :

ANEERKA INDUSTRIES

 

 

Registered Office :

J 1103, Phase 3rd,  Sitapura Industrial Area, Jaipur - 302022, Rajasthan

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Year of Establishment :

2008

 

 

Capital Investment / Paid-up Capital :

Rs. 3.575 Millions

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Partnership Concern with an Unlimited Liability of the Partners

 

 

Line of Business :

Manufacturer and Trader of non Glare Finest Surgical Instruments, Surgical Instrument, General Surgery, Obstetrics Instrument, Micro Instrument, Titanium Instrument

 

 

No. of Employees :

9  (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established partnership concern having satisfactory track record.

 

Trade relations are reported as fair. Business is active. Payment terms are usually correct.

 

The concern can be considered for the business dealings at 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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Kawal Arjani

Designation :

Chief Executive Officer

Contact No.:

91-9414076888

Date :

03.02.2015

 

 

LOCATIONS

 

Registered Office / Factory  :

J 1103, Phase 3rd,  Sitapura Industrial Area, Jaipur - 302022, Rajasthan, India

Tel. No.:

91-1741-2374564/2379559

Mobile No.:

91-9414076888 (Mr. Kawal Arjani)

Fax No.:

91-141-2362731

E-Mail :

kawal@tufftsurgical.in

export@tufftsurgical.in

Area :

250 Sq. mt.

Location :

Owned

 

 

Branch Office :

44, Mission compound, Ajmer Road, Jaipur – 302006, Rajasthan, India

Tel. No.:

91-141-2373125/2379559/2368568

Fax No.:

91-141-2362731

 

 

PARTNERS

 

Name :

Neerja Arjani

Designation :

Proprietor

Address :

Jaipur, Rajasthan, India

Date of Birth/Age :

51 Years

Qualification :

M.Com

 

 

KEY EXECUTIVES

 

Name :

Mr. Kawal Arjani

Designation :

Chief Executive Officer

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Trader of non Glare Finest Surgical Instruments, Surgical Instrument, General Surgery, Obstetrics Instrument, Micro Instrument, Titanium Instrument

 

 

Products :

·         Non Glare Finest Surgical Instruments

·         Surgical Instrument

·         General Surgery

·         Obstetrics Instrument

·         Micro Instrument

·         Titanium Instrument

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

·         Non Glare Finest Surgical Instruments

·         Surgical Instrument

·         General Surgery

·         Obstetrics Instrument

·         Micro Instrument

·         Titanium Instrument

Countries :

·         UAE

·         Australia

·         Bangladesh

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Pakistan

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Not Divulged

 

Reference :

Medico International, Bhubaneshwar

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

9  (Approximately)

 

 

Bankers :

Banker Name

Bank of Maharashtra

Branch Address

Jaipur Branch

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Millions)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

Loan SBBJ Bank of Metropolis

2.335

NA

 

 

 

Total

2.335

NA

 

Auditors :

 

Name :

Gupta Dhami and Company

Chartered Accountants

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Name :

Sales Corporate

Address :

44, Mission compound, Ajmer Road, Jaipur – 302006, Rajasthan, India

LOB :

Manufacturer and trader of non Glare Finest Surgical Instruments, Surgical Instrument, General Surgery, Obstetrics Instrument, Micro Instrument, Titanium Instrument

 

CAPITAL STRUCTURE

 

 As on 31.03.2014

 

Particulars

Amt

Neeraj Arjani

2.602

Add : Net Profit

1.296

Total

3.898

 

 

Less : LIC                                   0.047

 

Mediclaim Insurance                 0.015

 

Drawing                                      0.261

 

Total

0.323

 

 

Capital Account

3.575

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

 

 

31.03.2014

31.03.2013

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

3.575

2.602

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

0.000

0.000

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

3.575

2.602

LOAN FUNDS

 

 

 

1] Secured Loans

 

2.335

0.000

2] Unsecured Loans

 

1.180

0.680

TOTAL BORROWING

 

3.515

0.680

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

7.090

3.282

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

1.504

1.685

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.000

0.000

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Sundry Advances
 

8.195

3.379

 

Sundry Debtors
 

3.038

4.289

 

Cash in Hand
 

1.428

0.084

 

Stock in Hand
 

0.070

0.226

 

Cash at bank
 

1.056

0.050

Total Current Assets
 

13.787

8.028

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 

8.201

6.431

 

Other Current Liabilities
 

0.000

0.000

 

Provisions
 

0.000

0.000

Total Current Liabilities
 

8.201

6.431

Net Current Assets
 

5.586

1.597

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

7.090

3.282

 

 

 

PROFIT AND LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

 

14.165

12.578

 

Other Income

 

0.002

0.016

 

TOTAL

 

14.167

12.594

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

8.744

8.617

 

Custom Duties

 

1.354

0.675

 

Freight Charges

 

0.501

0.211

 

Labor Charges

 

0.415

0.273

 

Salary

 

0.873

0.865

 

Bank charges

 

0.066

0.024

 

Conveyance Expenses

 

0.043

0.030

 

Electricity Charges

 

0.008

0.007

 

Exchange Rate difference

 

0.181

0.053

 

Insurance Expenses

 

0.016

0.179

 

Interest on sales tax

 

0.002

0.003

 

Leave and Overtime Charges

 

 0.000

0.010

 

Repairing and Maintains Expenses

 

0.026

0.052

 

Sales Tax Demand

 

 0.000

0.003

 

Telephone Expenses

 

0.006

0.013

 

Travelling Expenses

 

0.015

0.209

 

Water Expenses

 

0.004

0.004

 

Bonus

 

0.075

0.000

 

Audit Fees

 

0.250

0.000

 

Brokerage

 

0.005

0.000

 

Consultancy Charges

 

0.014

0.000

 

General office Expenses

 

0.035

0.000

 

Interest on Loan

 

0.048

0.000

 

Printing and Stationery

 

0.000

0.000

 

TOTAL

 

12.681

11.228

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

1.486

1.366

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

0.191

0.217

 

 

 

 

 

 

NET PROFIT

 

1.295

1.149

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2014

31.03.2013

Net Profit Margin

(PAT/Sales)

(%)

 

9.14

9.13

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

8.47

11.83

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

0.36

0.44

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 
 

0.98

0.26

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.47

1.13

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

Share Capital

2.602

3.575

Reserves & Surplus

0.000

0.000

Net worth

2.602

3.575

 

 

 

Secured Loans

0.000

2.335

Unsecured Loans

0.680

1.180

Total borrowings

0.680

3.515

Debt/Equity ratio

0.261

0.983

 

 

 

 

YEAR ON YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

Sales

12.578

14.165

 

 

12.617

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

Sales

12.578

14.165

Profit

1.149

1.295

 

9.13%

9.14%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

Yes

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last two years

Yes

12]

Profitability for last two years

Yes

13]

Reasons for variation <> 20%

Yes

14]

Estimation for coming financial year

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

Yes

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

21]

Market information

-----------

22]

Litigations that the firm / promoter involved in

-----------

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

-----------

26]

Buyer visit details

-----------

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

No

29]

Last accounts filed at ROC

No

30]

Major Shareholders, if available

No

31]

Date of Birth of Proprietor/Partner/Director, if available

No

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

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 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.61.74

UK Pound

1

Rs.94.65

Euro

1

Rs.70.79

 

 

INFORMATION DETAILS

 

Information Gathered by :

HNA

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ART

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

-- PROFITABILITY 

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--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

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

 

47

 

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.