MIRA INFORM REPORT
|
Report No. : |
308288 |
|
Report Date : |
18.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRANSFIX (INDIA) PRIVATE LIMITED (w.e.f. 09.02.2010) |
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Formerly Known
As : |
CAHORS ELECTRICALS ( |
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Registered
Office : |
E-90, Ranjangaon MIDC, Taluka Shirur, Pune - 412208, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
26.10.2007 |
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Com. Reg. No.: |
25-130901 |
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Capital
Investment / Paid-up Capital : |
Rs.401.210 Millions |
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CIN No.: [Company Identification
No.] |
U32109PN2007PTC130901 |
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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.] |
PNEC07431E |
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PAN No.: [Permanent Account No.] |
AADCC1941J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Electronic Goods. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 : |
Subject is incorporated in the year 2007, whereas has commenced its
commercial operations from December 2011. It is having moderate track. Management has failed to file latest financials for FY 2014, with the
statutory authorities. As per available, the management has reported some accumulated losses
during FY 2013, which are slightly mitigated by infusion of equity capital
from the part of promoters. Trade relations seems to be fair. Business is active. Payment terms
are reported as 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.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Reshma Shere |
|
Designation : |
Assistance Manager (Accounts) |
|
Contact No.: |
91-2138-612000 |
|
Date : |
16.02.2015 |
LOCATIONS
|
Registered Office/ Factory : |
E-90, Ranjangaon MIDC, Taluka Shirur, Pune-412208, Maharashtra,
India |
|
Tel. No.: |
91-20-30261703 / 2138-612000 |
|
Fax No.: |
91-20-30261712 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Pierre Raymond Rene Willams |
|
Designation : |
Director |
|
Address : |
Bungalow No.311, |
|
Date of Birth/Age : |
25.01.1970 |
|
Date of Appointment : |
23.10.2009 |
|
DIN No.: |
02810486 |
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|
|
|
Name : |
Mr. Alexandre Samy Ramat |
|
Designation : |
Managing Director |
|
Address : |
206 Chemin Dela Chapelle, 07500, Guilherand-Granges, France |
|
Date of Birth/Age : |
07.04.1960 |
|
Date of Appointment : |
25.04.2013 |
|
DIN No.: |
06566962 |
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|
|
|
Name : |
Mr. Michel Andre Pierre Hibon |
|
Designation : |
Director |
|
Address : |
696 Chemin N Du Pont De Champagne, Cahors - 46000, France |
|
Date of Birth/Age : |
24.05.1950 |
|
Date of Appointment : |
15.10.2009 |
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DIN No.: |
01403834 |
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|
|
Name : |
Philippe Alain Gerard Claude Rostain |
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Designation : |
Director |
|
Address : |
53 Rue De Lechiquies, |
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Date of Birth/Age : |
01.06.1943 |
|
Date of Appointment : |
15.10.2009 |
|
DIN No.: |
01404663 |
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|
|
|
Name : |
Gregory Stephen Flyn |
|
Designation : |
Director |
|
Address : |
Bunglow No. 3/8, Kumar City, Kalyaninagar, Pune - 410014, Maharashtra,
India |
|
Date of Birth/Age : |
26.12.1970 |
|
Date of Appointment : |
01.08.2011 |
|
DIN No.: |
02860916 |
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|
|
|
Name : |
Mr. Francoise Brigitte Genevieve Bacqueyrisses Gacs |
|
Designation : |
Director |
|
Address : |
157, Boulevard George, 5 Talence, France – 033400 |
|
Date of Birth/Age : |
25.06.1945 |
|
Date of Appointment : |
08.06.2012 |
|
DIN No.: |
05293089 |
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|
|
|
Name : |
Mr. Philippe Bourrieres |
|
Designation : |
Director |
|
Address : |
38 Rue Arnaud Beraldy, Pradines, 46090, France |
|
Date of Birth/Age : |
20.02.1955 |
|
Date of Appointment : |
08.06.2012 |
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DIN No.: |
05293132 |
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|
Name : |
Jean Bertrand Andre Bacqueyrisses |
|
Designation : |
Director |
|
Address : |
22 Ave Pierre Brossolette, Le Bouscat, 033110, France |
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Date of Birth/Age : |
12.05.1948 |
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Date of Appointment : |
08.06.2012 |
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DIN No.: |
05297247 |
KEY EXECUTIVES
|
Name : |
Ms. Reshma Shere |
|
Designation : |
Assistance Manager (Accounts) |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Marc Gilles Andre Simon |
|
9999 |
|
Societe Nouvelle Transfix, France |
|
40110999 |
|
Devesh Sharad Tudekar |
|
1 |
|
Total |
|
40120999 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20308288_MIRA%2018-Feb-2015_files/image013.gif)
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Electronic Goods. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
France |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
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 : |
S N J and Company Chartered Accountants |
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Address : |
Office: # 25, Manisha Terrace,1st Floor, 2A, Moledina
Road, Camp, Opposite SGS Mall , Pune - 411001, Maharashtra, India |
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PAN No.: |
AACFJ1826D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
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Fellow Subsidiary Company : |
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CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40250000 |
Equity Shares |
Rs.10/- each |
Rs.402.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40120999 |
Equity Shares |
Rs.10/- each |
Rs.401.210 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
401.210 |
280.064 |
154.943 |
|
(b) Reserves & Surplus |
(26.208) |
(3.778) |
(1.620) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
53.363 |
48.129 |
|
Total
Shareholders’ Funds (1) + (2) |
375.002 |
329.649 |
201.452 |
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(3)
Non-Current Liabilities |
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|
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.756 |
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) |
0.756 |
0.000 |
0.000 |
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.022 |
0.000 |
0.000 |
|
(b) Trade
payables |
28.872 |
4.923 |
0.000 |
|
(c) Other
current liabilities |
10.295 |
10.569 |
9.893 |
|
(d) Short-term
provisions |
34.354 |
0.687 |
0.090 |
|
Total Current
Liabilities (4) |
73.543 |
16.179 |
9.983 |
|
|
|
|
|
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TOTAL |
449.301 |
345.828 |
211.435 |
|
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II.
ASSETS |
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|
|
|
(1)
Non-current assets |
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|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
322.886 |
110.138 |
48.958 |
|
(ii)
Intangible Assets |
0.333 |
0.094 |
0.281 |
|
(iii)
Capital work-in-progress |
0.209 |
183.302 |
122.800 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.101 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.484 |
0.483 |
|
Total Non-Current
Assets |
323.428 |
294.119 |
172.522 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.155 |
0.000 |
23.186 |
|
(b)
Inventories |
44.383 |
26.762 |
0.000 |
|
(c) Trade
receivables |
14.750 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
4.214 |
5.333 |
9.115 |
|
(e)
Short-term loans and advances |
33.124 |
1.388 |
3.388 |
|
(f) Other
current assets |
29.247 |
18.226 |
3.224 |
|
Total
Current Assets |
125.873 |
51.709 |
38.913 |
|
|
|
|
|
|
TOTAL |
449.301 |
345.828 |
211.435 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
35.685 |
0.835 |
0.000 |
|
|
|
Other Income |
8.691 |
0.000 |
0.000 |
|
|
|
TOTAL |
44.376 |
0.835 |
0.000 |
|
|
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|
|
|
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|
Less |
EXPENSES |
65.949 |
3.093 |
0.971 |
|
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|
|
PROFIT/(LOSS)
BEFORE TAX |
(21.573) |
(2.258) |
(0.971) |
|
|
|
|
|
|
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|
Less |
TAX |
0.857 |
(0.101) |
0.000 |
|
|
|
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|
|
PROFIT/(LOSS)
AFTER TAX |
(22.430) |
(2.157) |
(0.971) |
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|
EARNINGS IN
FOREIGN CURRENCY |
25.035 |
0.000 |
0.000 |
|
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|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.56) |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(62.86) |
(258.32) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.80) |
(1.39) |
(1.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06) |
(0.01) |
0.00 |
|
|
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|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71 |
3.20 |
3.90 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
154.943 |
280.064 |
401.210 |
|
Reserves & Surplus |
(1.620) |
(3.778) |
(26.208) |
|
Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
48.129 |
53.363 |
0.000 |
|
Net
worth |
201.452 |
329.649 |
375.002 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.022 |
|
Total
borrowings |
0.000 |
0.000 |
0.022 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20308288_MIRA%2018-Feb-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
0.000 |
0.835 |
35.685 |
|
|
|
0.00 |
4,173.653 |
%20PRIVATE%20LIMITED%20-%20308288_MIRA%2018-Feb-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
0.000 |
0.835 |
35.685 |
|
Profit |
(0.971) |
(2.157) |
(22.430) |
|
|
0.00% |
(258.32%) |
(62.86%) |
%20PRIVATE%20LIMITED%20-%20308288_MIRA%2018-Feb-2015_files/image019.gif)
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
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and advances, others |
0.022 |
0.000 |
|
Total |
0.022 |
0.000 |
NO CHARGES EXIST
FOR THE COMPANY
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 records 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.62.14 |
|
|
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--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 |
NO |
|
--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 |
|
29 |
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.