MIRA INFORM REPORT
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Report No. : |
305503 |
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Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
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Name : |
KHUSHBU DYE-CHEM PRIVATE LIMITED (w.e.f. 30.05.2003) |
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Formerly Known
As : |
KHUSHBU CHEMICAL AND SOLVENTS PRIVATE LIMITED |
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Registered
Office : |
M-403, Vardhaman Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of Incorporation
: |
10.03.2003 |
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Com. Reg. No.: |
11-139518 |
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Capital
Investment / Paid-up Capital : |
Rs.15.005
millions |
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CIN No.: [Company Identification
No.] |
U51410MH2003PTC139518 |
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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.] |
AACCK1837C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Importer, Dealer and Distributor of Chemicals and Solvents. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 an established company having moderate track record. Management of the company has failed to file its financial for the
year 2014 with the Government Department. As per available financial of 2013, external borrowings of the company
seems to be increasing compared to previous year. However, trade relations are fair. Business is active. Payment terms
are 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. Darshan Shah |
|
Designation : |
Accounts Department |
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Contact No.: |
91-9773222422 |
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Date : |
29.01.2015 |
LOCATIONS
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Registered Office : |
M-403, Vardhaman Nagar, Dr. R.P. Road , Mulund (West), Mumbai – 400
080, Maharashtra, India |
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Tel. No.: |
91-67102828/ 3838 |
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Mobile No.: |
91-9773222422 (Mr. Darshan Shah) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office/ Corporate Office : |
Gala No.99, 2nd Floor, New Unique Industries Estate, Dr. R.P. Road, Opposite Jawahar Talkies, Mulund (West), Mumbai – 400 080, Maharashtra, India |
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Tel. No.: |
91-22-25939696/ 67102828/ 3838/ 66932266/ 66982277 |
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Fax No.: |
91-22-25929595 |
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E-Mail : |
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Branch Office 1/ Godown 1: |
Survey 161, Paiki, Plot No.1, Gala No.1, 2, and 3, N H No.8, B Veraval Shapar, Rajkot Bhakti Nagar, Rajkot – 360 002, Gujarat, India |
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Branch Office 2/ Godown 2: |
Plot No.5105, G.I.D.C., Ankleshwar, District Bharuch, Ankleshwar, Gujarat, India |
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Branch Office 3/ Godown 3: |
3-6-97, Shop No.5, Ground Floor, Ishan Surabhi Arcade, Shyeedyar Jung Lane, Basheer Bag, Hyderabad, Telangana, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ashok Manilal Dand |
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Designation : |
Director |
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Address : |
M-403, Vardhaman Nagar, Dr. R.P. Road , Mulund (West), Mumbai – 400
080, Maharashtra, India |
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Date of Birth/Age : |
24.11.1958 |
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Date of Appointment : |
10.03.2003 |
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DIN No.: |
01598980 |
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PAN No.: |
ADDPD9387M |
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Name : |
Mrs. Urmila Ashok Dand |
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Designation : |
Director |
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Address : |
M-403, Vardhaman Nagar, Dr. R.P. Road , Mulund (West), Mumbai – 400
080, Maharashtra, India |
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Date of Birth/Age : |
26.01.1968 |
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Date of Appointment : |
10.03.2003 |
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DIN No.: |
01439654 |
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PAN No.: |
ADPPD8200R |
KEY EXECUTIVES
|
Name : |
Mr. Darshan Shah |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
93.00 |
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Other
top fifty shareholders |
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7.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader, Importer, Dealer and Distributor of Chemicals and Solvents. |
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Products : |
Chemicals and Solvents |
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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 : |
·
Chemicals |
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Countries : |
·
France ·
China ·
Singapore ·
Taiwan ·
Korea |
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Terms : |
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Selling : |
L/C / Cash / Credit |
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Purchasing : |
L/C / Cash / Credit |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
20 (Approximately) |
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Bankers : |
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B. M. S. and Associates Chartered Accountants |
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Address : |
28, Shanti Shopping Centre, Dr. R.P. Road, Mulund (West),
Mumbai – 400 080, Maharashtra, India |
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PAN
No.: |
ABSPS4301D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs.45.000 millions
Issued, Subscribed & Paid-up Capital : Rs.28.006
millions
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150062 |
Equity Shares |
Rs.100/-
each |
Rs.15.006
millions |
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AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150050 |
Equity Shares |
Rs.100/-
each |
Rs.15.005
millions |
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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 |
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(1)
Shareholders' Funds |
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(a) Share Capital |
15.005 |
15.000 |
13.052 |
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(b) Reserves & Surplus |
18.367 |
12.365 |
6.815 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
33.372 |
27.365 |
19.867 |
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(3) Non-Current Liabilities |
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(a) Long-term borrowings |
199.232 |
156.289 |
61.993 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.010 |
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(c) Other long term liabilities |
0.000 |
0.000 |
0.031 |
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(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current Liabilities (3) |
199.232 |
156.289 |
62.034 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade payables |
484.684 |
337.239 |
374.336 |
|
(c) Other current
liabilities |
13.039 |
12.429 |
45.924 |
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(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
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Total Current Liabilities (4) |
497.723 |
349.668 |
420.260 |
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TOTAL |
730.327 |
533.322 |
502.161 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
3.579 |
2.483 |
1.967 |
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(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
28.524 |
|
(c) Deferred tax assets (net) |
0.092 |
0.006 |
0.000 |
|
(d) Long-term Loan and Advances |
0.216 |
0.161 |
17.717 |
|
(e) Other Non-current assets |
0.019 |
0.039 |
0.170 |
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Total Non-Current Assets |
4.006 |
2.789 |
48.378 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
37.691 |
9.929 |
31.053 |
|
(c) Trade receivables |
608.114 |
434.554 |
418.318 |
|
(d) Cash and cash
equivalents |
51.697 |
49.698 |
2.480 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
28.819 |
36.352 |
1.932 |
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Total Current Assets |
726.321 |
530.533 |
453.783 |
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|
|
|
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TOTAL |
730.327 |
533.322 |
502.161 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Income |
NA |
NA |
1555.393 |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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Less |
EXPENSES |
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TOTAL |
NA |
NA |
NA |
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PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
5.484 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
NA |
0.220 |
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PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
5.264 |
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Less |
TAX |
NA |
NA |
1.712 |
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PROFIT/
(LOSS) AFTER TAX |
6.002 |
5.550 |
3.552 |
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Earnings/ (Loss)
Per Share (Rs.) |
40.00 |
37.00 |
27.22 |
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Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
3600.000 |
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Expected Sales (2014-2015): Rs.4100.000 millions
The above information has been parted by Mr. Darshan Shah (Accounts
Department).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA
|
NA
|
0.23 |
|
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
1.11 |
|
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|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.26 |
|
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|
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|
Debt Equity Ratio (Total Debt/Networth) |
|
5.97 |
5.71 |
3.12 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46 |
1.52 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
13.052 |
15.000 |
15.005 |
|
Reserves & Surplus |
6.815 |
12.365 |
18.367 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
19.867 |
27.365 |
33.372 |
|
|
|
|
|
|
Long Term borrowings |
61.993 |
156.289 |
199.232 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
61.993 |
156.289 |
199.232 |
|
Debt/Equity ratio |
3.120 |
5.711 |
5.970 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current Maturities of Long Term Debts |
0.000 |
0.000 |
0.000 |
|
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 two
years |
Yes |
|
12] |
Profitability for last
three 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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances |
91.743 |
66.243 |
|
Total |
91.743 |
66.243 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10535968 |
25/10/2014 |
30,000,000.00 |
THE COSMOS CO- OPERATIVE
BANK LIMITED |
MULUND BRANCH, GOVERDHAN
NAGAR, L B S MARG, MULUND |
C36620920 |
|
2 |
10447730 |
31/08/2013 |
36,000,000.00 |
THE COSMOS CO- OPERATIVE
BANK LIMITED |
MULUND BRANCH, GOVERDHAN
NAGAR, L B S MARG, MULUND |
B84346451 |
|
3 |
10385416 |
08/10/2012 |
24,000,000.00 |
THE COSMOS CO- OPERATIVE
BANK LIMITED |
MULUND BRANCH, GOVERDHAN
NAGAR, L B S MARG, MULUND |
B61708558 |
|
4 |
10323779 |
23/11/2011 |
5,000,000.00 |
THE COSMOS CO- OPERATIVE
BANK LIMITED |
MULUND BRANCH, GOVERDHAN
NAGAR, L B S MARG, MULUND |
B28089787 |
|
5 |
10256766 |
25/11/2010 |
10,000,000.00 |
THE COSMOS CO- OPERATIVE
BANK LIMITED |
MULUND BRANCH, GOVERDHAN
NAGAR, L B S MARG, MULUND |
B00097170 |
|
6 |
10228817 |
25/06/2010 |
10,000,000.00 |
THE COSMOS CO- OPERATIVE
BANK LIMITED |
MULUND BRANCH, GOVERDHAN
NAGAR, L B S MARG, MULUND |
A89031090 |
|
7 |
10060176 |
03/02/2014 * |
315,000,000.00 |
THE COSMOS CO- OPERATIVE
BANK LIMITED |
MULUND BRANCH, GOVERDHAN
NAGAR, L B S MARG, MULUND |
B95890638 |
* Date of charge modification
FIXED ASSETS
· Furniture and Fixtures
· Plant and Equipment
· Vehicles
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.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
-- PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.