|
Report No. : |
331264 |
|
Report Date : |
10.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SWARA GOLD |
|
|
|
|
Registered
Office : |
A-502, Janki Niwas CHS Limited, Tapovan, Rani Sati Marg, Pathanwadi,
Malad (East), Mumbai – 400 097, Maharashtra |
|
Tel. No.: |
91-22-28405007 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2015 (Provisional) |
|
|
|
|
Date of
Incorporation : |
04.02.2015 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.396 million |
|
|
|
|
IEC No.: |
0314089578 |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
ACSFS7866G |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Gold Bars and
Medallions. |
|
|
|
|
No. of Employees
: |
8 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
NB |
New Business |
|
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Mahesh
Pandurang Nalawade |
|
Designation : |
Partner |
|
Contact No.: |
91-9967648998 |
|
Date : |
09.07.2015 |
LOCATIONS
|
Registered Office : |
A-502, Janki Niwas CHS Limited, Tapovan, Rani Sati Marg, Pathanwadi,
Malad (East), Mumbai – 400 097, Maharashtra, India |
|
Tel. No.: |
91-22-28405007 |
|
Mobile No.: |
91-9967648998 (Mr.
Mahesh Pandurang Nalawade) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Gala No.117, First Floor, Kohinoor Industrial Estate, Western Express Highway,
Goregaon (East), Mumbai – 400 063, Maharashtra, India |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Girish
Pandurang Nalawade |
|
Designation : |
Partner |
|
Address : |
A-501, Janki Niwas
CHS Limited, Tapovan, Rani Sati Marg, Pathanwadi, Malad (East), Mumbai – 400 097,
Maharashtra, India |
|
Date of Birth/Age : |
16.06.1976 |
|
Qualification : |
B. Com |
|
Experience : |
10 Years |
|
PAN No.: |
ACLPN7104K |
|
|
|
|
Name : |
Mr. Mahesh
Pandurang Nalawade |
|
Designation : |
Partner |
|
Address : |
A-502, Janki Niwas
CHS Limited, Tapovan, Rani Sati Marg, Pathanwadi, Malad (East), Mumbai – 400 097,
Maharashtra, India |
|
Date of Birth/Age : |
05.09.1978 |
|
Qualification : |
B. Com |
|
Experience : |
14 Years |
|
PAN No.: |
ABZPN9736E |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Gold Bars and
Medallions. |
|
|
|
|
Products : |
Gold Bars and
Medallions |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
PRODUCTION STATUS (AS ON 30.06.2015):
|
Particulars |
Installed
Capacity |
|
Gold Bars and
Medallions |
15 Ton |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers
|
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
8 (Approximately) |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pranaay Ingle and Associates Chartered Accountants |
|
Address : |
C-73, Jay Nagar Society, Near Jankalyan Nagar, Off Marve Road, Malad
(West), Mumbai – 400 095, Maharashtra, India |
|
Mobile No.: |
91-9833001575 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
The Gem and
Jewellery Export Promotion Council |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Sister Concern : |
Not Available |
CAPITAL STRUCTURE
|
Capital Investment : |
30.06.2015 (Provisional) |
|
(Rs. in million)
|
|
|
Capital Account |
|
|
Girish Pandurang Nalawade |
0.400 |
|
Mahesh Pandurang Nalawade |
1.996 |
|
Total |
2.396 |
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
|
SOURCES OF FUNDS |
|
|
30.06.2015 (Provisional) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
|
2.396 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2.396 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.500 |
|
|
TOTAL BORROWING |
|
|
0.500 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.896 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.400 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
0.000
|
|
|
Cash & Bank Balances |
|
|
0.069
|
|
|
Other Current Assets |
|
|
0.230
|
|
|
Loans & Advances |
|
|
0.475
|
|
Total
Current Assets |
|
|
0.774
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000
|
|
|
Other Current Liabilities & Provisions |
|
|
(0.172)
|
|
Total
Current Liabilities |
|
|
(0.172)
|
|
|
Net Current Assets |
|
|
0.946
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.550 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.896 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
30.06.2015 (Provisional) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
0.000 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
|
0.000 |
|
KEY
RATIOS
|
PARTICULARS |
|
|
|
30.06.2015 (Provisional) |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
(4.50) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity-Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last about 5 months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last about 5 months |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OBSERVATION
POINTS
|
Name of Company : |
SWARA GOLD |
|
|
|
|
Address : |
A-502, Janki Niwas CHS Limited, Tapovan, Rani Sati Marg, Pathanwadi,
Malad (East), Mumbai – 400 097, Maharashtra, India |
|
|
|
|
Contact No.: |
91-9967648998 |
|
|
|
|
Name Board : |
Not Sighted |
|
|
|
|
Landmark (if any) : |
Omkar Building |
|
|
|
|
Total Floors of the building : |
7 |
|
|
|
|
Subject situated on : |
5th
Floor |
|
|
|
|
Locality : |
Residential |
|
|
|
|
Area : |
Neutral |
|
|
|
|
No. of Employees seen at premises : |
-- |
|
|
|
|
Visibility of Items : |
Air Conditioner |
|
|
|
|
Proof of Visit : |
Photograph |
------------------------------------------------------------------------------------------------------------------------------
DIAMOND INDUSTRY – INDIA
-
From
time immemorial, India is well known in the world as the birthplace for
diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The
achievement of the Indian diamond industry was possible only due to combination
of the manufacturing skills of the Indian workforce and the untiring and
unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
-
The
area of study of family owned diamond businesses derives its importance from
the huge conglomerate of family run organizations which operate in the diamond
industry since many generations.
-
Some
of the basic traits of family run business enterprises include spirit of
entrepreneurship, mutual trust lowers transaction costs, small, nimble and
quick to react, information as a source of advantage and philanthropy.
-
Family
owned diamond businesses need to improve on many fronts including higher
standard of corporate governance, long-term performance – focused strategies,
modern management and technology.
-
Utmost
caution is to be exercised while dealing with some medium and large diamond
traders which are usually engaged in fictitious import – export, inter-company
transactions, financially assisted by banks. In the process, several public
sector banks lost several hundred million rupees. They mostly diverted borrowed
money for diamond business into real estate and capital markets.
-
Excerpts
from Times of India dated 30th October 2010 is as under –
-
Gem
and Jewellery Export Promotion Council in its statistical data has shown the
export of polished diamonds to have increase by 28% in February 2013. Compared
to $ 1.4 bn worth of polished diamond export in February, 2012, India exported
$ 1.84 billion worth of polished diamonds in February 2013. A senior executive
of GJEPC said, “Export of cut and polished diamonds started falling month-wise
after the imposition of 2 % of import duty on the polished diamonds. But
February, 2013 has given a new ray of hope to the industry as the export of
polished diamonds has actually increased by 28%. It means the industry is on
the track of recovery and round tripping of diamonds has stopped completely.”
Demand has started coming from the US, the UK, Japan and China. India’s
polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The
banking sector has started exercising restraint while following prudent risk
management norms when lending money to gems and jewellery sector. This follows
the implementation of Basel III accord – a global voluntary regulatory standard
on bank capital adequacy, stress testing and market liquidity.
------------------------------------------------------------------------------------------------------------------------------
PROFILE
Subject was founded
during the year 2015 by Mr. Girish Nalawade and Mr. Mahesh Nalawade - Partners
in Mumbai and with a strong team of professionals. In order to take advantage
of the lucrative retail segment of Gold jewellery/Medallion. Its strong group of
efficient management team has within a year of its establishment, will take
Subject to a flying start by capturing a much larger and wider market than
expected. A separate manufacturing unit have been started in order to cater to
the continuously increasing demand from its various retail clients.
Subject has started
its manufacturing / Refinery of Gold, Silver and planning to start gold
jewellery, Medallion products to start with Asian and Middle East market as
well as to sell Bullion in domestic market.
MANAGEMENT
Mr. Girish
Nalawade - Partner (Production)
Aged 38, F.Y.B.Com, has a 10-year experience in the manufacturing of casted as well as machine made jewellery. He overlooks the production, technical requirement, administration and inventory management at the manufacturing units.
Mr. Mahesh
Nalawade - Partner (Finance, Export, Import and Marketing)
Aged 36, has a 14 years’ experience, to build a strong foundation in business management and the study of Finance, he has a Master in Commerce in Finance from Mumbai University. Along with his educational background, and experience of working with various jewellery manufacturing units in India regarding Import Export and Marketing of Jewellery and a research base in the mining industry, he plays a key role in the day-to-day management, planning of the company. He has handled forex transactions for both import and Exports including forward Cover
FINANCIAL PERFORMANCE:
|
Particulars |
FY
2014-15 (Rs.
in million) |
|
Partner Capital |
2.300 |
|
Unsecured Loan (Friends and Relatives) |
0.500 |
|
Investment in Fixed Assets |
1.400 |
MARKETING AND
SALES
The Firm has separate marketing arrangement for its Local and Export
Markets:
Export Marketing
and Sales
The Partner of the Company act as the Marketing and Sales personnel when
it comes to foreign markets. The partner personally approach all the Company's
clients in the Gulf and Asia. Personal marketing efforts help them understand
the intricacies of the foreign markets and serve these markets in better way by
manufacturing designs accepted by the customers in foreign markets.
Local Marketing
and Sales
The Firm has a local sales team which comprises of 2 people. This team
is headed by Mrs. Tanvi Nalawade and looks after the Indian market. The team
markets its products on a personal basis. The marketing and sales team follows
the personal approach while interacting with clients. This helps they designers
to create new designs and makes the job easier for the sales team
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Capital Investment : |
30.06.2015 (Provisional) |
|
(Rs. in million)
|
|
|
Pandurang M. Nalawade |
0.500 |
|
Total |
0.500 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF
WORKING CAPITAL REQUIREMENTS
(RS. IN
MILLION)
|
Particulars |
|
2015-16 |
2016-17 |
2017-18 |
2018-19 |
|
|
Estimated |
Projected |
Projected |
Projected |
|
|
|
|
|
|
|
|
|
Gross Sales |
|
140.000 |
175.000 |
220.000 |
275.000 |
|
Export Sales |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
Domestic Sales |
140.000 |
175.000 |
220.000 |
275.000 |
|
|
Other income |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
Total (sales + other income) |
140.000 |
175.000 |
220.000 |
275.000 |
|
|
Profit Before Tax |
1.600 |
2.100 |
2.700 |
3.500 |
|
|
Profit after Tax |
1.300 |
1.700 |
2.300 |
3.000 |
|
|
Cash Accruals |
1.400 |
1.800 |
2.500 |
3.600 |
|
|
Tangible Net Worth |
5.500 |
9.600 |
12.900 |
182 |
|
|
Overall gross Profit |
|
11.07% |
13.94% |
13.27% |
12.33% |
|
On export gross profit |
NA |
NA |
NA |
NA |
|
|
On local gross profit |
109.64% |
103.71% |
103.09% |
102.44% |
|
|
NPBT (%) |
|
1.14% |
1.20% |
1.23% |
1.27% |
|
NPAT (%) |
|
0.91% |
0.97% |
1.05% |
1.09% |
|
Current Ratio |
|
1.40 |
1.55 |
1.59 |
1.61 |
|
TOL/TNW |
|
1.83 |
1.57 |
1.55 |
1.37 |
|
Working Capital |
1.72 |
2.00 |
2.00 |
2.00 |
|
|
Days |
|
|
|
|
|
|
Debtors |
|
0.000 |
0.000 |
0.000 |
0.000 |
|
Creditors |
|
0.000 |
0.000 |
0.000 |
0.000 |
|
Total Liabilities |
|
15.500 |
24.600 |
32.900 |
43.200 |
|
Total Assets |
|
15.500 |
24.600 |
32.900 |
43.200 |
|
Fund based |
10.000 |
15.000 |
20.000 |
25.000 |
|
|
Non Fund Based |
- |
- |
- |
- |
|
|
Total Proposed Loan Facility |
10.000 |
15.000 |
20.000 |
25.000 |
|
------------------------------------------------------------------------------------------------------------------------------
OPERATIVE STATEMENT
(RS. IN
MILLION)
|
FORM II - |
|
|
|
|
|
|
Year |
|
2015-16 |
2016-17 |
2017-18 |
2014-15 |
|
Particulars |
|
Estimated |
Projected |
Projected |
Projected |
|
|
|
|
|
|
|
|
1. Gross Sales |
140.000 |
175.000 |
220.000 |
275.000 |
|
|
(i) Export |
-- |
-- |
-- |
0 |
|
|
(ii) Local |
140.000 |
175.000 |
220.000 |
275.000 |
|
|
(iii) Other Income |
-- |
-- |
-- |
0 |
|
|
2. (a) Less Excise duty |
-- |
-- |
-- |
-- |
|
|
2. Gross Income ( I + ii+ iii) |
140.000 |
175.000 |
220.000 |
275.000 |
|
|
3. % age rise (+) or fall (-) |
96% |
25% |
26% |
25% |
|
|
4. Cost of sales |
|
|
|
|
|
|
(i) Raw materials (including stores and other |
|
138.000 |
157.100 |
197.600 |
247.800 |
|
items used in the process of manufacture) (in terms of %) |
|
98.57 |
89.77 |
89.82 |
90.11 |
|
(a) Imported |
138.000 |
157.100 |
197.600 |
247.800 |
|
|
(b) Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
(ii) Other |
- |
- |
- |
- |
|
|
(iii) Salary & Wages |
1.800 |
2.000 |
2.400 |
3.000 |
|
|
(iv) Power Expenses |
0.200 |
0.300 |
0.300 |
0.400 |
|
|
(v) Depreciation |
0.100 |
0.100 |
0.200 |
0.600 |
|
|
(vi) Manufacturing Expenses. |
0.800 |
1.400 |
1.500 |
1.500 |
|
|
(vii) Sub Total (i to vi) |
140.900 |
160.900 |
202.000 |
253.300 |
|
|
(x) Cost of production |
140.900 |
160.900 |
202.000 |
253.300 |
|
|
|
|
|
|
|
|
|
(xi) Add : Opening stock -Finished goods |
0.000 |
13.500 |
20.000 |
26.800 |
|
|
Sub total |
|
|
|
|
|
|
(Xii) Closing stock -Finished Goods |
13.500 |
20.000 |
26.800 |
33.500 |
|
|
(Xiii) Sub Total(Total Cost of sales) |
127.400 |
154.400 |
195.200 |
246.600 |
|
|
|
|
|
|
|
|
|
5. Selling, general and admin expenses |
9.700 |
16.500 |
19.400 |
21.600 |
|
|
6. Sub Total (5+6) |
137.100 |
170.900 |
214.600 |
268.200 |
|
|
7. Operating profit before interest (3-7) |
2.900 |
4.100 |
5.400 |
6.800 |
|
|
8. Interest on Working capital |
1.300 |
2.000 |
2.700 |
3.300 |
|
|
9. Operating profit after interest (8-9) |
1.600 |
2.100 |
2.700 |
3.500 |
|
|
10.Profit Before tax (10+11(iii)) |
1.600 |
2.100 |
2.700 |
3.500 |
|
|
11. Provision for taxes |
|
|
|
|
|
|
(i) current tax |
0.300 |
0.400 |
0.400 |
0.500 |
|
|
(ii) wealth tax |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
(iii) deferred tax |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
(iv) MAT credit entitlement |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
(v)
short/ excess provision for tax |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
12.(a) Equity Dividend paid |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
13. Retained Profit (14-15a) |
1.300 |
1.700 |
2.300 |
3.000 |
|
|
14. PBDIT |
3.000 |
4.200 |
5.600 |
7.400 |
|
|
15. Retained Profit/Net Profit(%age) |
100% |
100% |
100% |
100% |
|
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN
MILLION)
|
FORM III : |
2015-16 |
2016-17 |
2017-18 |
2014-15 |
|
|
Estimated |
Projected |
Projected |
Projected |
|
CURRENT LIABILITIES |
|
|
|
|
|
1. Short term borrowing from banks |
-- |
-- |
-- |
-- |
|
(Including bills purchased, discounted &
excess borrowings placed on repayment basis) |
-- |
-- |
-- |
-- |
|
(i) From Applicants bank |
10.000 |
15.000 |
20.000 |
25.000 |
|
(ii) from other bank |
-- |
-- |
-- |
-- |
|
(iii) Term loan |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub Total A |
10.000 |
15.000 |
20.000 |
25.000 |
|
|
|
|
|
|
|
2. Short term borrowings from others |
0.000 |
0.000 |
0.000 |
0.000 |
|
3. Sundry Creditors |
0.000 |
0.000 |
0.000 |
0.000 |
|
Import |
0.000 |
0.000 |
0.000 |
0.000 |
|
local |
0.000 |
0.000 |
0.000 |
0.000 |
|
4. Advance payment from customer/deposit |
0.000 |
0.000 |
0.000 |
0.000 |
|
from dealers |
- |
- |
- |
- |
|
5. Provision for taxation |
- |
- |
- |
- |
|
5.1 deferred tax liability (assets) |
- |
- |
- |
- |
|
6. Dividend payable |
- |
- |
- |
- |
|
7. Other Statutory Liabilities (due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
|
8. Deposit/ Installment of term loan (due within 1 year) |
0.000 |
0.000 |
0.000 |
- |
|
9 Other Current liabilities/provisions (due within year) |
-- |
0.000 |
0.000 |
0.000 |
|
Sub Total (B) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
10. Total Current Liabilities (1 to 9) |
10.000 |
15.000 |
20.000 |
25.000 |
|
11. Debentures ( not maturing within 1 year) |
- |
- |
- |
- |
|
12. Preference shares |
- |
- |
- |
- |
|
13. Term loan (excluding installment
due within year) |
- |
- |
- |
- |
|
14. Deferred payment credits |
|
|
|
|
|
15. Deposit/Unsecured loans |
- |
0.000 |
0.000 |
0.000 |
|
16. Total Term liabilities (11 to 16) |
0.000 |
|
- |
- |
|
17. Total Outside Liabilities (10+17) |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Worth |
|
|
|
|
|
18. Partners’ Capital |
2.700 |
5.500 |
9.600 |
10.200 |
|
19. Share premium |
0.000 |
0.000 |
0.000 |
0.000 |
|
20. Share Application money |
- |
- |
- |
- |
|
21. Reserve & Surplus |
- |
- |
- |
- |
|
22.Capital Introduce |
1.500 |
2.400 |
1.000 |
5.000 |
|
23. Surplus/deficit in P&L A/c |
1.300 |
1.700 |
2.300 |
3.000 |
|
24. Net Worth |
5.500 |
9.600 |
12.900 |
18.200 |
|
25. Total Liabilities (18+24) |
15.500 |
24.600 |
32.900 |
43..200 |
|
26. Cash & Bank balances |
0.200 |
2.800 |
4.500 |
6400 |
|
27. Investments (Other than long term Inv.) |
-- |
-- |
-- |
-- |
|
(i)
Government/Other trust securities |
-- |
-- |
-- |
-- |
|
(ii) Fixed deposit with banks |
-- |
-- |
-- |
-- |
|
28. (i) Receivables other than deferred
& export (incl. bills purchased & discounted by banks) |
0.000 |
0.000 |
0.000 |
0.000 |
|
(ii)
Export/domestic receivables (incl. bills purchased /discounted by banks) |
0.000 |
0.000 |
0.000 |
0.000 |
|
(iii) Debtors more than 6 months (Local) |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total receivables |
0.000 |
0.000 |
0.000 |
0.000 |
|
29. Installment of deferred receivables (due within one year) |
-- |
-- |
-- |
-- |
|
30. Inventory |
|
|
|
|
|
(I) Raw materials (incl. stores & others
items used in the Process of
manufacture) |
-- |
-- |
-- |
-- |
|
(a) Imported |
-- |
-- |
-- |
-- |
|
(b) Indigenous |
-- |
-- |
-- |
-- |
|
(ii) Stocks in trade |
-- |
-- |
-- |
-- |
|
(iii) Stock of finished goods |
13.500 |
20.000 |
26.800 |
33.500 |
|
(iv) Other Consumable spares |
-- |
-- |
-- |
-- |
|
(a) Imported |
-- |
-- |
-- |
-- |
|
(b) Ingenious |
-- |
-- |
-- |
-- |
|
31. Advance to suppliers of raw materials
& stores/spare |
-- |
-- |
-- |
-- |
|
(i) Short term loans & advances |
- |
- |
- |
- |
|
32. Advance Payment of taxes |
0.200 |
0.200 |
0.200 |
0.200 |
|
33. Other Current Assets |
0.200 |
0.200 |
0.200 |
0.200 |
|
34. Total Current Assets (26 to 33) |
14.000 |
23.200 |
31.700 |
40.300 |
|
35. Gross Block/WDV |
1.400 |
1.300 |
1.200 |
3.200 |
|
36. Depreciation to date |
0.100 |
0.100 |
0.200 |
0.600 |
|
37. Net Block (35-36) |
1.300 |
1.200 |
1.000 |
2.600 |
|
Other Non-Current Assets |
|
|
|
|
|
38. Investments /book
debts/advances/deposits |
-- |
-- |
-- |
-- |
|
(i) (a) Investment in subsidiary
companies/affiliates |
-- |
-- |
-- |
-- |
|
(b) Others(NSC) |
0.000 |
0.000 |
0.000 |
0.000 |
|
(ii) Advances to suppliers of capital
goods/contractors |
-- |
-- |
-- |
-- |
|
(iii) Others-Long term Loans & Advances |
0.000 |
0.000 |
0.000 |
0.000 |
|
(iii) Deferred receivables (Maturity exceeding
1 year) |
-- |
-- |
-- |
-- |
|
(iv) Others-Deposits |
0.230 |
0.230 |
0.2300 |
0.230 |
|
(v) preliminary expenses To the extent not
written off |
0.000 |
0.000 |
- |
- |
|
39. Deferred tax assets |
0.000 |
-- |
-- |
-- |
|
40.Other non-current assets 38 to 40 |
0.230 |
0.230 |
0.2300 |
0.230 |
|
41. Intangible Assets |
-- |
-- |
-- |
-- |
|
42. Total Assets-34,37,41,42 |
15.500 |
24.600 |
32.900 |
43.200 |
|
43. Tangible net Worth (24-42) |
5.500 |
9.600 |
12.900 |
18.200 |
|
44. Net Working capital (17+24)-(37+41+42) |
4.000 |
8.200 |
11.700 |
15.300 |
|
ADDITIONAL INFORMATION |
2015-16 |
2016-17 |
2017-18 |
Projected |
|
|
Estimated |
Projected |
Projected |
2014-2015 |
|
|
|
|||
|
45.Current ratio |
1.40 |
1.55 |
1.59 |
1.61 |
|
46. TOL/TNW |
1.83 |
1.57 |
1.55 |
1.37 |
|
47. Interest Coverage (PBDIT/Int) |
2.36 |
2.10 |
2.07 |
2.24 |
|
48. PAT/SALES (IN TERMS OF %) |
0.91 |
0.97 |
1.05 |
1.09 |
|
49. Debt Equity ratio |
1.83 |
1.57 |
1.55 |
1.37 |
COMPARATIVE
STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
(RS. IN
MILLION)
FORM IV:
|
1) Inventory |
13.500 |
20.000 |
26.800 |
33.500 |
|
(a) Imported |
13.500 |
20.000 |
26.800 |
33.500 |
|
(b) Indigenous |
- |
- |
- |
- |
|
2) Total receivables (incl. bills purchased/ discounted by banks) |
0.000 |
0.000 |
0.000 |
0.000 |
|
(a) Export receivables |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b) domestics receivables |
0.000 |
0.000 |
0.000 |
0.000 |
|
( c ) debtors more than 6 months (in local) |
0.000 |
0.000 |
0.000 |
0.000 |
|
3) Advances to suppliers of raw material/etc. |
0.000 |
0.000 |
0.000 |
0.000 |
|
4) Advance payments of taxes |
0.200 |
0.200 |
0.200 |
0.200 |
|
5) Other current assets (including cash/bank balances & deferred receivables due within one
year |
0.200 |
0.200 |
0.200 |
0.200 |
|
Cash & Bank Balance |
0.200 |
2.800 |
4.500 |
-- |
|
6) Total Current
Assets |
14.100 |
23.200 |
31.700 |
40.300 |
|
7) Creditors for purchases of raw material , stores & consumables
spares months purchases |
0.000 |
0.000 |
0.000 |
0.000 |
|
( a ) import creditors |
0.000 |
0.000 |
0.000 |
0.000 |
|
(i) import creditors days |
-- |
- |
- |
- |
|
( b ) local creditors |
0.000 |
0.000 |
0.000 |
0.000 |
|
(ii) local creditors days |
-- |
-- |
-- |
-- |
|
8) Advances from customers |
- |
- |
- |
- |
|
9) Statutory Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
|
10) Other Current liabilities/short term borrowing |
0.000 |
0.000 |
0.000 |
0.000 |
|
14) Total |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE WORKING CAPITAL
(RS. IN
MILLION)
FORM V:
|
|
2015-16 |
2016-17 |
2017-18 |
2014-15 |
|
|
Estimated |
Projected |
Projected |
Projected |
|
|
|
|
|
|
|
|
|
|
|
|
|
1. Total Current Assets (9 in
form IV) |
14.100 |
23.200 |
31.700 |
40.300 |
|
2) Other current liabilities (Other than bank borrowing) (14 of form
IV) |
0.000 |
0.000 |
0.000 |
0.000 |
|
3) Working capital Gap (WCG) (1-2) |
14.100 |
23.200 |
31.700 |
40.300 |
|
4) Minimum Stipulated net working capital i.e. 25% of WCG WCG/25% of
total current assets as the case may be depending upon the method (export
receivable to be excluded under both the methods) |
3.500 |
5.800 |
7.900 |
10.100 |
|
5) Actual/Projected net working capital (45 in form III) |
4.000 |
8.200 |
11.700 |
15.300 |
|
6.) Item 3 minus 4 |
10.600 |
17.400 |
23.800 |
30.200 |
|
7) Item 3 minus 5 |
10.000 |
15.000 |
20.000 |
25.000 |
|
(A) of form III (Maximum
permissible bank finance item 6 or 7 whichever Is lower) |
10.000 |
15.000 |
20.000 |
25.000 |
|
9. Excess Borrowings representing short fall in NWC (4-5) |
|
|
|
|
|
|
|
|
|
|
|
Schedule I |
2015-16 |
2016-17 |
2017-18 |
2015 |
|
Interest Cost
Schedule |
Estimated |
Projected |
Projected |
Provisional |
|
Particulars |
10.000 |
15.000 |
20.000 |
25.000 |
|
interest on borrowing |
1.300 |
1.400 |
1.400 |
71.900 |
|
Short term Borrowing |
12.80% |
9.00% |
6.75% |
287.40% |
|
|
|
|
|
|
|
Schedule II |
2015-16 |
2016-17 |
2017-18 |
2015 |
|
Inventory |
Estimated |
Projected |
Projected |
Provisional |
|
Inventories |
|
|
|
|
|
import |
0.000 |
0.000 |
0.000 |
0.000 |
|
domestic |
0.000 |
0.000 |
0.000 |
0.000 |
|
Raw Material |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Schedule III |
2015-16 |
2016-17 |
2017-18 |
2015 |
|
Raw material
consumed |
Estimated |
Projected |
Projected |
Provisional |
|
|
|
|
|
|
|
Opening stock of Raw Material |
-- |
-- |
-- |
-- |
|
Import |
-- |
-- |
-- |
-- |
|
Domestic |
-- |
-- |
-- |
-- |
|
Purchase of Raw material |
138.000 |
157.100 |
197.600 |
247.800 |
|
Import |
138.000 |
157.100 |
197.600 |
247.800 |
|
Domestic |
-- |
-- |
-- |
-- |
|
Closing stock of Raw material |
-- |
-- |
-- |
-- |
|
Import |
-- |
-- |
-- |
-- |
|
Domestic |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Total |
138.000 |
157.100 |
197.600 |
247.800 |
|
import consumed |
138.000 |
157.100 |
197.600 |
247.800 |
|
domestic consumed |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Schedule IV |
2015-16 |
2016-17 |
2017-18 |
2015 |
|
Working Capital
Assessment |
Estimated |
Projected |
Projected |
Provisional |
|
|
|
|
|
|
|
Total Current Assets |
14.100 |
23.200 |
31.700 |
40.300 |
|
Current Liability other than bank Borrowing |
-- |
-- |
-- |
-- |
|
Working Capital Gap |
14.100 |
23.200 |
31.700 |
40.300 |
|
Actual/Projected NWC |
4.000 |
8.200 |
11.700 |
15.300 |
|
Flexible Bank
finance |
10.000 |
15.000 |
20.000 |
25.000 |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Air Compressor
· Air Conditioner
· Camera
· Chiller Plant
· Computer
· Water Tank
· Electric Balance Scale
· Fan
· Furniture and Fixture
· Machinery
· Muffle Furnace
· Printer
· T.V.
· Chairs
------------------------------------------------------------------------------------------------------------------------------
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.63.51 |
|
UK Pound |
1 |
Rs.97.85 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
SMN |
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.