MIRA
INFORM REPORT
|
Report No. : |
307550 |
|
Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
AVNI CABLE INDUSTRIES |
|
|
|
|
Registered
Office : |
Gala No. 12 and 13, Building No.4, Raj Prabha, Minakshi Industrial
Estate, Thane – 400103, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of
establishment : |
2008 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 3.008 Millions |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAOFA5889K |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturer of cables and wires. |
|
|
|
|
No. of Employees
: |
12 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 reported to be usually correct and as per commitment. The concern can considered normal for 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 |
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. Ritesh Dilipbhai Gandhi |
|
Designation : |
Partner |
|
Contact No.: |
91-9867227903 |
|
Date : |
12.02.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Gala No. 12 and 13, Building No.4, Raj Prabha, Minakshi Industrial Estate,
Thane – 400103, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9867227903 (Mr. Ritesh Dilipbhai Gandhi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
3000 sq. ft. |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Ritesh Dilipbhai Gandhi |
|
Designation : |
Partner |
|
Address : |
A-201/202, Chanda Appartments, S.V.P. Road, Borivali (West), Mumbai –
400103, Maharashtra, India |
|
Date of Birth/Age : |
31 Years |
|
Qualification : |
S. Y. B.Com |
|
PAN No.: |
AJGPG6079E |
|
|
|
|
Name : |
Mrs. Purnima N. Gandhi |
|
Designation : |
Partner |
|
Address : |
A-201/202, Chanda Appartments, S.V.P. Road, Borivali (West), Mumbai – 400103,
Maharashtra, India |
|
Date of Birth/Age : |
55 Years |
|
PAN No.: |
ANPPG1195C |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of cables and wires. |
|
|
|
|
Products : |
·
Cables ·
Wires |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Belt Centre ·
Kalika Sales Corporation ·
G.N. Wires ·
Hi Tech Metals ·
Ocean Wire Ind. ·
Pooja Industries ·
R.N. Industries ·
R.P. Plastic Ind. ·
Shreerang
Plastics |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
·
Ahilyadevi Electricals ·
Ambika Electricals ·
Amit Electricals ·
Ankit
Traders ·
Ashish sales Corp ·
Ashwini Trading Company ·
Century Electricals ·
Decent Elec Nanded ·
Fire Works Engineering |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
12 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
·
ICICI Bank |
||||||||||||||||||||||
|
|
|
|
|
|
|
Auditors : |
|
|
Name : |
Kastury and Talati Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
|
Particulars |
31.03.2014 (Rs.
In Million) |
|
Purnima D.
Gandhi |
0.280 |
|
Ritesh D. Gandhi |
0.079 |
|
Purnima D.
Gandhi |
1.575 |
|
Ritesh D. Gandhi |
1.075 |
|
|
|
|
Total |
3.009 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.008 |
2.652 |
3.026 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.008 |
2.651 |
3.026 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.506 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.210 |
0.050 |
0.050 |
|
|
TOTAL BORROWING |
0.716 |
0.050 |
0.050 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.724 |
2.702 |
3.076 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.340 |
0.759 |
0.847 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.383
|
2.097 |
1.731 |
|
|
Sundry Debtors |
3.166
|
1.216 |
1.169 |
|
|
Cash & Bank Balances |
0.483
|
0.832 |
0.834 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.305
|
0.354 |
0.276 |
|
Total
Current Assets |
5.337
|
4.499 |
4.010 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.940
|
2.546 |
1.756 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.013
|
0.010 |
0.025 |
|
Total
Current Liabilities |
2.953
|
2.556 |
1.781 |
|
|
Net Current Assets |
2.384
|
1.943 |
2.229 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.724 |
2.702 |
3.076 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
11.189 |
10.637 |
9.577 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
(A) |
11.189 |
10.637 |
9.577 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of goods sold |
8.778 |
8.228 |
7.371 |
|
|
LBT Tax |
0.091 |
0.117 |
0.102 |
|
|
Packing Material |
0.000 |
0.000 |
0.032 |
|
|
Wages |
0.368 |
0.369 |
0.369 |
|
|
Audit Fees |
0.041 |
0.034 |
0.034 |
|
|
Electricity charges |
0.219 |
0.236 |
0.177 |
|
|
Bank Charges |
0.005 |
0.010 |
0.003 |
|
|
Conveyance |
0.101 |
0.093 |
0.079 |
|
|
Water Charges |
0.020 |
0.020 |
0.008 |
|
|
Freight |
0.000 |
0.000 |
0.070 |
|
|
Hell and Mukadami |
0.115 |
0.091 |
0.000 |
|
|
Interest on Bank OD |
0.001 |
0.002 |
0.005 |
|
|
Interest to Partners |
0.318 |
0.280 |
0.280 |
|
|
Interest to Car loan |
0.009 |
0.000 |
0.000 |
|
|
ISI Testing Fees |
0.075 |
0.060 |
0.061 |
|
|
Printing and Stationery |
0.000 |
0.000 |
0.000 |
|
|
Calibration charges |
0.011 |
0.011 |
0.012 |
|
|
Postage |
0.026 |
0.000 |
0.000 |
|
|
Legal and Prof. Charges |
0.010 |
0.012 |
0.010 |
|
|
Rent |
0.240 |
0.240 |
0.240 |
|
|
Travelling Expenses |
0.035 |
0.031 |
0.033 |
|
|
Discount |
0.020 |
0.052 |
0.000 |
|
|
MVAT |
0.015 |
0.119 |
0.000 |
|
|
Repairs and Maintenance |
0.000 |
0.055 |
0.001 |
|
|
Salaries |
0.045 |
0.045 |
0.045 |
|
|
Salary to Partners |
0.289 |
0.270 |
0.334 |
|
|
Sundry Expenses |
0.080 |
0.061 |
0.061 |
|
|
Motorcar Expenses |
0.019 |
0.000 |
0.000 |
|
|
Staff Welfare |
0.030 |
0.030 |
0.032 |
|
|
Telephone Charges |
0.011 |
0.014 |
0.000 |
|
|
Trade Mark Charges |
0.007 |
0.000 |
0.000 |
|
|
Provision for income tax |
0.013 |
0.010 |
0.025 |
|
|
Inspection Charges |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
|
10.992 |
10.490 |
9.384 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION |
0.197 |
0.147 |
0.193 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION
|
0.168 |
0.128 |
0.145 |
|
|
|
|
|
|
|
|
NET
PROFIT |
0.029 |
0.019 |
0.048 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
0.26
|
0.18 |
0.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.78
|
0.70 |
1.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.01 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.24
|
0.02 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
1.76 |
2.25 |
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 |
3.026 |
2.652 |
3.008 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3.026 |
2.652 |
3.008 |
|
|
|
|
|
|
Secured Loan |
0.000 |
0.000 |
0.506 |
|
Unsecured Loan |
0.050 |
0.050 |
0.210 |
|
Total
borrowings |
0.050 |
0.050 |
0.716 |
|
Debt/Equity
ratio |
0.017 |
0.019 |
0.238 |
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) |
|
Sales |
9.577 |
10.637 |
11.189 |
|
|
|
11.068 |
5.189 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
9.577 |
10.637 |
11.189 |
|
Profit |
0.047 |
0.019 |
0.029 |
|
|
0.49% |
0.18% |
0.26% |
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 |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
No |
|
8] |
No. of
employees |
Yes |
|
9] |
Name of
person contacted |
Ye |
|
10] |
Designation
of contact person |
Yes |
|
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 |
Yes |
|
18] |
Major
customers |
Yes |
|
19] |
Payments
terms |
Yes |
|
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 |
No |
|
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 |
FIXED ASSETS
·
Plant and machinery
·
Air conditioner
·
Furniture
·
Car
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. 62.15 |
|
|
1 |
Rs. 94.72 |
|
Euro |
1 |
Rs. 70.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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 |
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 |
|
45 |
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.