MIRA INFORM REPORT
|
Report No. : |
302395 |
|
Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
A.S. MOLOOBHOY AND SONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Anchor House BPPT Plot No. 58 1st Magazine Cross Street, Darukhan, Mumbai –
400010, Maharashtra |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.06.2002 |
|
|
|
|
Com. Reg. No.: |
11-136272 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.102 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2002PTC136272 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject engaged into Service Provider of Shipping and Marine
Industries |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial with government
department for the year 2014. As per available financial of 2013, the rating is constrained on
account of company’s moderate scale of business operation and moderate
financial risk profile of the company. However, trade relations are fair. Business is active. Payments 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.
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. Sandesh |
|
Designation : |
Accountants Department |
|
Contact No.: |
91-22-23786800 |
|
Date : |
09.01.2015 |
LOCATIONS
|
Registered Office : |
Anchor House BPPT Plot No. 58 1st Magazine Cross Street, Darukhan, Mumbai –
400010, Maharashtra, India |
|
Tel. No.: |
91-22-23786800 |
|
Fax No.: |
91-22-23742678/23745168 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Rented |
|
|
|
|
Branch : |
Vishakhapatnam, Kolkata, Port-Blair, India |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Adil Shareef Moloobhoy |
|
Designation : |
Director |
|
Address : |
11, Grosvenor
House, Peddar Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
26.02.1995 |
|
Date of Appointment : |
20.06.2002 |
|
DIN No.: |
00546666 |
|
|
|
|
Name : |
Mrs. Nafeesa Adil Moloobhoy |
|
Designation : |
Director |
|
Address : |
Flat No. 5, 3rd Floor,, Grosvenor House, Peddar Road, Mumbai, 400026, Maharashtra, India |
|
Date of Birth/Age : |
29.08.1962 |
|
Date of Appointment : |
20.06.2006 |
|
DIN No.: |
01052240 |
|
|
|
|
Name : |
Ms. Tehzeeb Adil
Moloobhoy |
|
Designation : |
Additional
Director |
|
Address : |
Grosvenor House,
3rd Floor, Peddar Road, Mumbai, 400026, Maharashtra, India |
|
Date of Appointment : |
15.01.2012 |
|
DIN No.: |
05206146 |
|
|
|
|
Name : |
Ms. Ghazalah Adil
Moloobhoy |
|
Designation : |
Director |
|
Address : |
Grosvenor House,
3rd Floor, Peddar Road, Mumbai, 400026, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1987 |
|
Date of Appointment : |
04.01.2000 |
|
DIN No.: |
02715473 |
KEY EXECUTIVES
|
Name : |
Mr. Sandesh |
|
Designation : |
Accountants Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Mr. Adil Shareef Moloobhoy |
5000 |
0.98 |
|
Mrs. Nafeesa Adil Moloobhoy |
230000 |
45.08 |
|
Ms. Ghazalah Adil
Moloobhoy |
225000 |
44.10 |
|
Ms. Tehzeeb Adil
Moloobhoy |
50204 |
9.84 |
|
Total |
510204 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged into Service Provider of Shipping and Marine
Industries |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Shipping Related Product |
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Countries : |
Japan |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Others
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No. of Employees : |
120 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Auditors : |
|
|
Name : |
Karvy and Company Chartered Accountants |
|
Address : |
6D/2, Court Chambers, Sir Vithaldas Thackersey Marg, 35, New Marine
Line, Mumbai-400020, Maharashtra, India |
|
PAN No.: |
AAEFK5073F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
510204 |
Equity Shares |
Rs.10/- each |
Rs. 5.102
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 |
5.102 |
5.102 |
0.100 |
|
(b) Reserves & Surplus |
15.582 |
12.529 |
-0.448 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
15.563 |
|
Total
Shareholders’ Funds (1) + (2) |
20.684 |
17.631 |
15.215 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.300 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.305 |
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) |
1.605 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
0.296 |
0.262 |
0.078 |
|
(c) Other
current liabilities |
0.178 |
0.259 |
0.002 |
|
(d) Short-term
provisions |
0.105 |
0.058 |
0.000 |
|
Total Current
Liabilities (4) |
0.579 |
0.579 |
0.080 |
|
|
|
|
|
|
TOTAL |
22.868 |
18.210 |
15.295 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3.724 |
0.095 |
0.007 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.486 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
16.572 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.616 |
0.215 |
0.212 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
21.398 |
0.335 |
0.244 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
1.326 |
|
(c) Trade
receivables |
0.444 |
0.142 |
13.066 |
|
(d) Cash
and cash equivalents |
0.918 |
17.733 |
0.659 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.108 |
0.000 |
0.000 |
|
Total
Current Assets |
1.470 |
17.875 |
15.051 |
|
|
|
|
|
|
TOTAL |
22.868 |
18.210 |
15.295 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
0.381 |
|
|
|
Other Income |
|
|
0.174 |
|
|
|
TOTAL |
N.A |
N.A |
0.555 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
0.000 |
0.031 |
|
|
|
Purchases of Stock-in-Trade |
|
1.325 |
2.705 |
|
|
|
Employees benefits expense |
|
0.470 |
0.036 |
|
|
|
Other expenses |
|
0.285 |
0.326 |
|
|
|
TOTAL |
|
2.080 |
3.098 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
N.A |
(2.080) |
(2.543) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.003 |
0.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX |
3.053 |
(2.083) |
(2.546) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX |
3.053 |
(2.083) |
(2.625) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.532) |
(0.448) |
2.177 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.521 |
(2.532) |
(0.448) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.98 |
(4.08) |
(262.52) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
N.A |
N.A |
(688.98) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
N.A |
N.A |
(667.45) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
N.A |
(11.45) |
(16.67) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
N.A |
(0.12) |
(0.17) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.54 |
30.87 |
188.14 |
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 |
0.100 |
5.102 |
5.102 |
|
Reserves & Surplus |
(0.448) |
12.529 |
15.582 |
|
Net
worth |
(0.348) |
17.631 |
20.684 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
1.300 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
1.300 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.063 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT 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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one year |
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 |
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 |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
UNSECURED LOAN |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long Term
Borrowing |
|
|
|
Kunthunath Trading and Investments Private Limited |
1.300 |
0.000 |
|
Total |
1.300 |
0.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90144287 |
24/01/2003 |
400,000.00 |
BANK OF PUNJAB LIMITED |
NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Computers
- Air Conditoners
- Office Equipments
- Furniture and Fixtures
- Scooter
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.62.39 |
|
|
1 |
Rs.94.16 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.