MIRA
INFORM REPORT
|
Report No. : |
308146 |
|
Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
CEAT SPECIALTY TYRES LIMITED (w.e.f. 25.11.2014) |
|
|
|
|
Formerly Known
As : |
CEAT SPECIALTY TYRES PRIVATE LIMITED (w.e.f. 03.02.2014) UNITGRO COMTRADE PRIVATE LIMITED |
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|
Registered
Office : |
RPG House, 463, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.10.2012 |
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|
Com. Reg. No.: |
11-236623 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U25199MH2012PLC236623 |
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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.] |
MUMC20868B |
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|
|
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PAN No.: [Permanent Account No.] |
AABCU5142M |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Tyres. |
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|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Yet to commence its commercial operations |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated on 09.10.2012 it is Yet to
commence its commercial operations. Mr. Sandeep Sarkhot, Chief Financial Officer has denied to disclose any
information about the subject to us. Business is active as per the status shown in the registrar of
companies. Payment terms are reported to be unknown. The company can be considered for business dealings on safe ans
secured 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.
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.
INFORMATION DENIED BY
|
Name : |
Mr. Sandeep Sarkhot |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-9820267803 |
|
Date : |
14.02.2015 |
LOCATIONS
|
Registered Office : |
RPG House, 463, Dr. Annie Besant Road, Worli, Mumbai – 400030, Maharashtra, India |
|
Tel. No.: |
91-22-25292152 / 53 / 54 |
|
Mobile No.: |
91-9820267803 (Mr. Sandeep Sarkhot) |
|
Fax No.: |
91-22-25297241 |
|
E-Mail : |
DIRECTORS
As on 19.09.2014
|
Name : |
Mr. Asis Mishra |
|
Designation : |
Director |
|
Address : |
Flat No.1502,15th Floor, Millennium Avanish, A-Wing, Sector10-A,Plot
No.09/10/11, Near D Mart, Airoli, Navi Mumbai - 400708, Maharashtra, India |
|
Date of Birth/Age : |
23.08.1968 |
|
Date of Appointment : |
09.10.2012 |
|
DIN No.: |
00435077 |
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|
|
|
Name : |
Mrs. Shruti Ratnakar Joshi |
|
Designation : |
Director |
|
Address : |
PA-6, Mu.H.No.134, Plot No. 167,(B) Date Bhavan C), Dr. Babasaheb Ambedkar
Road, Mu.H.No.116,Dadar (East), Mumbai - 400014, Maharashtra, India |
|
Date of Birth/Age : |
05.09.1979 |
|
Date of Appointment : |
09.10.2012 |
|
DIN No.: |
05277759 |
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|
|
|
Name : |
Mr. Kunal Hari Mundra |
|
Designation : |
Additional Director |
|
Address : |
A61, Twin Towers, Off. Veer Savarkar Marg, Prabhadevi, Mumbai 400025,
Mumbai - 400025, Maharashtra, India |
|
Date of Appointment : |
31.12.2014 |
|
DIN No.: |
07041572 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Sarkhot |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS
As on 19.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Parasmal Rakhecha |
|
3000 |
|
Shruti Ratnakar Joshi |
|
4000 |
|
Sunil Vaity |
|
3000 |
|
Total |
|
10000 |
As on 28.01.2015
|
Names of Allottees |
|
No. of Shares |
|
Ceat Limited, India |
|
39960 |
|
Kunal Mundra |
|
10 |
|
Govind Sharma |
|
10 |
|
Sandeep Sarkhot |
|
10 |
|
Geeta Bandekar |
|
10 |
|
Total |
|
40000 |
Equity Share Break up (Percentage of Total Equity)
As on 19.09.2014
|
Category |
Percentage |
|
Bodies corporate |
40.00 |
|
Directors or relatives of Directors |
60.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Tyres. |
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Products : |
Tyres |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
-- |
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Auditors : |
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|
Name : |
V. S. Somani and Company Chartered Accountants |
|
Address : |
17, Datrutva Society, Dasturwadi, M.M.G.S Marg, Dadar (East), Mumbai –
400014, Maharashtra, India |
|
Tel. No.: |
91-22-32586162 |
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E-Mail : |
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PAN No.: |
AERPS0853G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Not Divulged |
CAPITAL STRUCTURE
After 19.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.100 |
0.100 |
|
(b) Reserves & Surplus |
|
(0.092) |
(0.038) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
0.008 |
0.062 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
0.000 |
0.000 |
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|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
0.000 |
0.000 |
|
(c) Other current
liabilities |
|
0.003 |
0.030 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities (4) |
|
0.003 |
0.030 |
|
|
|
|
|
|
TOTAL |
|
0.011 |
0.092 |
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|
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|
II.
ASSETS |
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|
|
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(1) Non-current assets |
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(a) Fixed Assets |
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|
|
|
(i) Tangible assets |
|
0.000 |
0.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
|
0.011 |
0.093 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
0.011 |
0.093 |
|
|
|
|
|
|
TOTAL |
|
0.011 |
0.093 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL (A) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
|
0.054 |
0.038 |
|
|
|
TOTAL (B) |
|
0.054 |
0.038 |
|
|
|
|
|
|
|
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|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(0.054) |
(0.038) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
(0.054) |
(0.038) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
|
(0.054) |
(0.038) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
(0.054) |
(0.038) |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(0.038) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(0.092) |
(0.038) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
|
(5.41) |
(3.75) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(490.91) |
(40.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(6.75) |
(0.61) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.67 |
3.10 |
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 |
|
0.100 |
0.100 |
|
Reserves & Surplus |
|
(0.038) |
(0.092) |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net
worth |
|
0.062 |
0.008 |
|
|
|
|
|
|
Long Term borrowings |
|
0.000 |
0.000 |
|
Short Term borrowings |
|
0.000 |
0.000 |
|
Total
borrowings |
|
0.000 |
0.000 |
|
Debt/Equity
ratio |
|
0.000 |
0.000 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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 |
Yes |
|
8] |
No. of employees |
No |
|
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% |
----------- |
|
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 |
No |
|
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 |
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 |
NO CHARGES EXIST
FOR THE COMPANY
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.62.43 |
|
|
1 |
Rs.95.02 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.