MIRA INFORM REPORT

 

 

Report No. :

309232

Report Date :

25.02.2015 

 

IDENTIFICATION DETAILS

 

Name :

SUNDER ENTERPRISES

 

 

Registered Office :

# 104, 1st Floor, Shrinath Complex, New Cotton Market, Hubli – 580 029, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Year of Establishment :

2005

 

 

Capital Investment :

Rs.1.910 millions

 

 

IEC No.:

0712030425

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

TIN No.:

29260832323

 

 

PAN No.:

[Permanent Account No.]

ABRFS9587Q 

 

 

Legal Form :

Partnership Concern with an unlimited liability of the Partners

 

 

Line of Business :

Trader of coal, steam cones, cattle raw material etc.

 

 

No. of Employees :

6 (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 fair. Business is active. Payment terms are reported to be usually correct.

 

The concern can be considered for business dealings at usual trade terms and condition.

 

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

 

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. Sanjay Ramachandrasa Niranjan 

Designation :

Partner

Contact No.:

91-9448130877

Date :

23.02.2015

 

 

LOCATIONS

 

Registered Office :

# 104, 1st Floor, Shrinath Complex, New Cotton Market, Hubli – 580 029, Karnataka, India

Tel. No.:

91-836-2354959

Mobile No.:

91-9448130877 (Mr. Sanjay)

Fax No.:

91-836-2354958

E-Mail :

shrisai_niranjan@yahoo.com

Area :

600 sq. ft.

Location :

Owned

Locality :

Commercial

 

 

PARTNERS

 

Name :

Mr. Sanjay Ramachandrasa Niranjan 

Designation :

Partner

Address :

32, Badaminagar, Hubli – 580 031, Karnataka, India

PAN No.:

AAWPN1899E

 

 

Name :

Mr. Aravind Vishwanathsa Kalburgi 

Designation :

Partner

Address :

Prema Nilaya, Behind VRL House, Naveen Park, Keshwapur, Hubli – 580 031, Karnataka, India

 

 

Name :

Mr. Gajanan B. Habib

Designation :

Partner

 

BUSINESS DETAILS

 

Line of Business :

Trader of coal, steam cones, cattle raw material etc.

 

 

Products :

Coal, steam cones, cattle raw material, etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash, Credit (30 days) and Cheque

 

 

Purchasing :

Cash, Credit (30 days) and Cheque

 

 

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 :

Wholesalers and Retailers

 

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

 

 

No. of Employees :

6 (Approximately)

 

 

Bankers :

Banker Name

HDFC Bank Limited

Branch Address

TB Revankar Complex, Vivekanand Hospital Road, Hubli – 580 029, Karnataka, India

Person Name (With Designation)

Mr. Mahadev (Manager)

Contact Number

91-836-2217086/ 2217082

Name of Account Holder

SUNDER ENTERPRISES

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

6 to 7 Years

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Current Account

Account Operation

Not Divulged

Remarks (If any)

Having regular transaction with the Bank and valuable customer for Bank.

 

·         Bank of Baroda

·         Canara Bank 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

D.V. Joshi and Company

Chartered Accountants

Address :

Hare Krishna Chambers, Hubli, Karnataka, India

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister Concerns:

Not Available

 

 

CAPITAL STRUCTURE

 

Capital Investment :

31.03.2014

(Rs. in millions)

Partner’s Capital A/c

 

Mr. Gajanan B. Habib

0.500

Mr. Aravind Vishwanathsa Kalburgi 

0.650

Mr. Sanjay Ramachandrasa Niranjan 

0.760

Total

1.910

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2014

31.03.2013

SHAREHOLDERS FUNDS

 

 

 

1] Partner’s Capital

 

1.910

1.450

2] Partner’s Current A/c

 

2.289

2.278

3] Share Application Money

 

0.000

0.000

4] Reserves & Surplus

 

5.177

0.000

5] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

9.376

3.728

LOAN FUNDS

 

 

 

1] Secured Loans

 

2.752

3.780

2] Unsecured Loans

 

0.000

0.000

TOTAL BORROWING

 

2.752

3.780

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

12.128

7.508

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

2.096

1.431

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.181

0.175

DEFERRED TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

0.000

0.000

 

Sundry Debtors
 

17.376

13.418

 

Cash & Bank Balances
 

0.430

1.111

 

Other Current Assets
 

3.891

3.511

 

Loans & Advances
 

0.000

0.000

Total Current Assets
 

21.697

18.040

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 
9.883

11.242

 

Other Current Liabilities & Provisions
 
1.963

0.896

Total Current Liabilities
 

11.846

12.138

Net Current Assets
 

9.851

5.902

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

12.128

7.508

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

 

109.246

63.237

 

 

Other Income

 

0.000

0.001

 

 

TOTAL                                    

 

109.246

63.238

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchase A/c

 

93.185

53.993

 

 

Defective and Rejected Goods

 

1.630

1.874

 

 

Audit and Legal Fees

 

0.075

0.025

 

 

Bad Debtors

 

0.450

3.586

 

 

Bank Charges A/c

 

0.016

0.031

 

 

Consultant Fees

 

0.000

0.010

 

 

Electricity Charges

 

0.007

0.008

 

 

Freight Charges (Coal)

 

4.861

0.000

 

 

Insurance

 

0.029

0.032

 

 

Legal Fees

 

0.020

0.020

 

 

Office Maintenance

 

0.013

0.000

 

 

Postage and Courier Charges

 

0.007

0.004

 

 

Printing and Stationery

 

0.010

0.007

 

 

Salary A/c

 

0.867

0.240

 

 

Telephone Bill A/c

 

0.042

0.030

 

 

Traveling Expenses

 

0.084

0.053

 

 

Vehicle Maintenance

 

0.337

0.042

 

 

Other Expenses

 

2.146

2.230

 

 

TOTAL                                    

 

103.779

62.185

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

5.467

1.053

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION        

 

0.291

0.245

 

 

 

 

 

 

NET PROFIT/ (LOSS) 

 

5.176

0.808

 

Expected Sales (2014-2015): Rs.150.000 millions

 

The above information has been parted by Mr. Sanjay Niranjan (Partner).

 

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2014

31.03.2013

Net Profit Margin

(PAT/Sales)

(%)
 

4.74

1.28

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

21.75

4.15

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

0.55

0.22

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
 

0.29

1.01

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.83

1.49

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

 

31.03.2013

31.03.2014

 

 

(INR in Mlns.)

(INR in Mlns.)

Partner’s Capital

 

1.450

1.910

Partner’s Current A/c

 

2.278

2.289

Reserves & Surplus

 

0.000

5.177

Net worth

 

3.728

9.376

 

 

 

 

Secured Loans

 

3.780

2.752

Unsecured Loans

 

0.000

0.000

Total borrowings

 

3.780

2.752

Debt/Equity ratio

 

1.014

0.294

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

 

31.03.2013

31.03.2014

 

 

(INR in Mlns)

(INR in Mlns)

Income

 

63.237

109.246

 

 

 

72.756

 

 

NET PROFIT MARGIN

 

Net Profit Margin

 

31.03.2013

31.03.2014

 

 

(INR)

(INR)

Income

 

63.237

109.246

Profit

 

0.808

5.176

 

 

1.28%

4.74%

 

 

 

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

No

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%

-----

14]

Estimation for coming financial year

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

No

17]

Major suppliers

No

18]

Major customers

No

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

Yes

25]

Conduct of the banking account

Yes

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

Yes

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.62.28

UK Pound

1

Rs.96.21

Euro

1

Rs.70.60                              

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SMN

 

 

 

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

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

 

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

 

--

 

 

 

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.