MIRA INFORM REPORT
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Report No. : |
306876 |
|
Report Date : |
11.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
PHARMAX ( |
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Formerly Known
As : |
PHARMAX PRIVATE LIMITED |
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Registered
Office : |
9 Kurla Industrial Estate, LBS Marg, Ghatkopar (West), Mumbai –
400086, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.07.1959 |
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Com. Reg. No.: |
11-011403 |
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Capital
Investment / Paid-up Capital : |
Rs.11.300 Millions |
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CIN No.: [Company Identification
No.] |
U24100MH1959PTC011403 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMP21914E |
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PAN No.: [Permanent Account No.] |
AAACP7205k |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceuticals, Medicines and Drugs. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Profitability of the company seems to be slow. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be slow but correct The company 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 – 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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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
31-03-2014.
LOCATIONS
|
Registered Office/ Factory : |
9 Kurla Industrial Estate, LBS Marg, Ghatkopar (West), Mumbai –
400086, |
|
Tel. No.: |
91-22-25106643 |
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Fax No.: |
91-22-67982898 |
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E-Mail : |
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Website : |
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Area : |
10000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Bimlesh Bansal |
|
Designation : |
Director |
|
Address : |
RH-2 Manavsthal,
Gokuldam, Goregaon (East), Mumbai - 400063, Maharashtra, India |
|
Date of Birth/Age : |
06.04.1955 |
|
Date of Appointment : |
14.03.1994 |
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DIN No.: |
01428009 |
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Name : |
Mr. Sarvesh Bansal |
|
Designation : |
Director |
|
Address : |
B-1703, Lakshandi
Heights, Gokuldham,, Goregaon (East), Mumbai - 400063, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1948 |
|
Date of Appointment : |
31.08.1994 |
|
DIN No.: |
02221751 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ajay Kumar Bansal |
|
300 |
|
Bimlesh Bansal |
|
455000 |
|
Chandravadan C. Modi |
|
100 |
|
Chirag V. Shah |
|
200 |
|
Dhunjishaw C. Gazder |
|
500 |
|
Dinesh V. Khandelwal |
|
100 |
|
Dipa V. Shah |
|
200 |
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Dr. Kishor Shukla |
|
1000 |
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Hemangi Mahambare |
|
1500 |
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Homi E. Marker |
|
1000 |
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Jayashree Mahambare |
|
1500 |
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Kiran Misra |
|
500 |
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Sarvesh Bansal |
|
197800 |
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Mamta D. Khandelwal |
|
100 |
|
Mohammed A. Siddiqi |
|
200 |
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Mahesh Khandelwal |
|
500 |
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Navneet Kumar Shukla |
|
500 |
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Navnit R. Ved |
|
300 |
|
Rama Bansal |
|
300 |
|
Sarvesh Bansal |
|
435200 |
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Salim S. Patel |
|
100 |
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Satishchandra R. Shrimali |
|
100 |
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Suresh Kumar J Joshi |
|
1000 |
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Sushila Fatnani |
|
500 |
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Vanaja Menon |
|
1000 |
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Vinay S. Jaising |
|
500 |
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Manjiri Bansal |
|
20000 |
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Suyash Bansal |
|
10000 |
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Total |
|
1130000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
98.94 |
|
Directors or relatives of Directors |
1.06 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20306879%2011-Feb-2015_files/image015.gif)
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pharmaceuticals, Medicines and Drugs. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
The Rupee Co-operative Bank, Naupada Branch, Thane,
Maharashtra, India |
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Facilities : |
Details of
Term Loan are as under: a) Rupee Co-op Bank – Loans The Company has not provided for Interest on the credit facilities of Term Loans of Rs.27.249 Millions and Cash Credit of Rs.8.539 Millions outstanding from Rupee Co-operative Bank Limited. Naupada Branch since March 2000. The Rupee Co-operative Bank Ltd, had called back the said faculties in year 2000 as the account had become non performing asset and accordingly stopped applying the interest to the said accounts. In view of the above it Is not feasible to quantify the exact effect on the loss for the year due to outstanding amount as on 31st March, 2013 The Company had made last payment on 26th September, 2008
b) HDFC Bank Limited Loan is against Hypothecation of Motor Car, Loan carries 14% interest. The loan Is repayable in 48 monthly installment bf Rs.0.010 Million each from 7th February 2011 c) Kotak Mahindra Prime Limited Loan is against Hypothecation of Motor Car. Loan carries 10.655% interest. The loan is repayable in 54 monthly installment of Rs.0.032 Millions each from 1st January 2014 |
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Auditors : |
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Name : |
Manish D Ladage and Company Chartered Accountants |
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Address : |
107-108, Regent Chambers, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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Tel. No.: |
91-22-42476600 |
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Fax No.: |
91-22-42476666 |
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E-Mail : |
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PAN No.: |
AAAPL2634H |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1130000 |
Equity Shares |
Rs.10/- each |
Rs.11.300 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
11.300 |
11.300 |
6.500 |
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(b) Reserves & Surplus |
2.114 |
1.735 |
-0.980 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
13.414 |
13.035 |
5.520 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
22.409 |
20.673 |
25.500 |
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(b) Deferred tax liabilities (Net) |
1.419 |
1.279 |
3.596 |
|
(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) |
23.828 |
21.952 |
29.096 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
0.000 |
0.113 |
0.313 |
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(b) Trade
payables |
25.322 |
14.409 |
21.204 |
|
(c) Other
current liabilities |
2.714 |
3.744 |
1.148 |
|
(d) Short-term
provisions |
1.466 |
0.771 |
0.491 |
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Total Current
Liabilities (4) |
29.502 |
19.037 |
23.156 |
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TOTAL |
66.744 |
54.024 |
57.772 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
24.277 |
15.575 |
15.110 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.503 |
0.503 |
0.662 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.847 |
0.754 |
1.290 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
25.627 |
16.832 |
17.062 |
|
|
|
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|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
10.697 |
20.313 |
17.248 |
|
(c) Trade
receivables |
18.218 |
10.004 |
15.237 |
|
(d) Cash
and cash equivalents |
1.286 |
0.793 |
0.599 |
|
(e)
Short-term loans and advances |
10.838 |
9.063 |
7.327 |
|
(f) Other
current assets |
0.078 |
0.019 |
0.299 |
|
Total
Current Assets |
41.117 |
40.192 |
40.710 |
|
|
|
|
|
|
TOTAL |
66.744 |
57.024 |
57.772 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
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Income |
|
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Other Income |
|
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|
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TOTAL |
119.256 |
77.446 |
95.403 |
|
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|
|
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|
Less |
EXPENSES |
116.574 |
75.999 |
94.143 |
|
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.682 |
1.447 |
1.260 |
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|
|
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|
Less |
DEPRECIATION/
AMORTISATION |
1.375 |
0.941 |
0.992 |
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Less |
LOSS ON SALE
OF CAR |
0.406 |
0.000 |
0.000 |
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|
PROFIT/(LOSS)
BEFORE TAX |
0.901 |
0.506 |
0.268 |
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Less |
TAX |
0.264 |
0.079 |
0.021 |
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|
PROFIT/(LOSS)
AFTER TAX |
0.637 |
0.427 |
0.247 |
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PROVISION
FOR CURRENT YEAR DEFERRED TAX |
0.140 |
(2.317) |
0.158 |
|
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INCOME TAX EARLIER
YEAR |
0.051 |
0.000 |
0.000 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(8.136) |
(10.880) |
(10.969) |
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|
BALANCE CARRIED
TO THE B/S |
(7.690) |
(8.136) |
(10.880) |
|
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|
Earnings / (Loss)
Per Share (Rs.) |
0.56 |
NA |
NA |
|
%20PRIVATE%20LIMITED%20-%20306879%2011-Feb-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20306879%2011-Feb-2015_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.36 |
0.90 |
0.47 |
|
|
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|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.04 |
0.05 |
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|
Debt Equity Ratio (Total Debt /Networth) |
|
1.67 |
1.59 |
4.68 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
2.11 |
1.76 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
6.500 |
11.300 |
11.300 |
|
Reserves & Surplus |
(0.980) |
1.735 |
2.114 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5.520 |
13.035 |
13.414 |
|
|
|
|
|
|
Long Term borrowings |
25.500 |
20.673 |
22.409 |
|
Short Term borrowings |
0.313 |
0.113 |
0.000 |
|
Total
borrowings |
25.813 |
20.786 |
22.409 |
|
Debt/Equity
ratio |
4.676 |
1.595 |
1.671 |
%20PRIVATE%20LIMITED%20-%20306879%2011-Feb-2015_files/image017.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
95.403 |
77.446 |
119.256 |
|
|
|
-18.822 |
53.986 |
%20PRIVATE%20LIMITED%20-%20306879%2011-Feb-2015_files/image019.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
95.403 |
77.446 |
119.256 |
|
Profit |
0.247 |
0.427 |
0.637 |
|
|
0.26% |
0.55% |
0.53% |
%20PRIVATE%20LIMITED%20-%20306879%2011-Feb-2015_files/image021.gif)
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Loans From
Directors |
0.000 |
0.000 |
|
Sarvesh Bansal |
0.934 |
0.772 |
|
Bimlesh Bansal |
1.884 |
1.259 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable
on demand |
0.000 |
0.112 |
|
Total |
2.818 |
2.143 |
OPERATIONS:
During the year the gross revenue has increased and the company has made a profit of Rs.0.901 Million as compared to the previous year profit of Rs.0.506 Million.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90364963 |
07/06/2001 |
5,000,000.00 |
Rupee Co. Op. Bank Limited |
Naupada Branch, Thane, Maharashtra, India |
- |
|
2 |
90364961 |
30/03/2001 |
500,000.00 |
Rupee Co. Op. Bank Limited |
Naupada Branch, Thane, Maharashtra, India |
- |
|
3 |
90366092 |
30/03/2001 |
5,000,000.00 |
Rupee Co. Op. Bank Limited |
Naupada Branch, Thane, Maharashtra, India |
- |
|
4 |
90364948 |
30/06/2000 |
1,000,000.00 |
Rupee Co. Op. Bank Limited |
Naupada Branch, Thane, Maharashtra, India |
- |
|
5 |
90366084 |
18/04/2000 |
25,800,000.00 |
Rupee Co. Op. Bank Limited |
Naupada Branch, Thane, Maharashtra, India |
- |
|
6 |
90364945 |
30/03/2001 * |
6,500,000.00 |
Rupee Co. Op. Bank Limited |
Naupada Branch, Thane, Maharashtra, India |
- |
|
7 |
90366083 |
17/04/2000 |
6,500,000.00 |
Rupee Co. Op. Bank Limited |
Naupada Branch, Thane, Maharashtra, India |
- |
|
8 |
90366035 |
10/06/1994 * |
3,000,000.00 |
Rupee Co. Op. Bank Limited |
Naupada Branch, Thane, Maharashtra, India |
- |
|
9 |
90363119 |
12/05/1988 |
45,000.00 |
Rupee Co. Op. Bank Limited |
Naupada Branch, Thane, Maharashtra, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.62.14 |
|
|
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--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 |
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 |
|
32 |
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.