MIRA INFORM REPORT
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Report No. : |
332054 |
|
Report Date : |
16.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCED MOBILES INDIA PRIVATE LIMITED (w.e.f 02.01.2013) |
|
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Formerly Known
As : |
ADVANCED MOBILE TRADING COMPANY PRIVATE LIMITED |
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Registered
Office : |
Unit No.009,Yusuf Building, Ground Floor Junction of Mg Road and Veer
Nariman Road, Flora Fountain Mumbai – 400001, Maharashtra |
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Tel. No.: |
91-22-49190190/49202920 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.03.2003 |
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Com. Reg. No.: |
11-139780 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.300 Million |
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CIN No.: [Company Identification
No.] |
U51909MH2003PTC139780 |
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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.] |
AAECA7508E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in carrying on the business of distribution ship of
mobile handsets, data cards and its accessories. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established private limited company incorporated in the
year 2003, having moderate track. Company has incurred losses from its operations in FY14, which has eroded
the networth of the company. Further sales turnover of the company
drastically decreased in the year under consideration. However, trade relations are fair. Business is active. Payment terms
are reported to be slow. The company can be considered for business dealings with fully safe
and secured trade terms and conditions. |
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
|
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. Suresh Sharma |
|
Designation : |
Senior Manager – Accounts and finance |
|
Contact No.: |
91-9821257464 |
|
Date : |
15.07.2015 |
LOCATIONS
|
Registered Office : |
Unit No.009,Yusuf Building, Ground Floor Junction of Mg Road and Veer
Nariman Road, Flora Fountain Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-49190190/49202920 |
|
Mobile No.: |
91-9821257464 (Mr. Suresh Sharma) |
|
Fax No.: |
91-22-49202937 |
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E-Mail : |
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|
Website : |
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Area : |
2074 Sq. ft. |
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Location : |
Owned |
|
|
|
|
Branches |
8 – Office, floor 2nd, Plot – 111A, Currimjee Building,
Mahatma Gandhi road, Fort, Mumbai – 400001, Maharashtra, India |
|
Location : |
Rented |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Essa Ismail Merchant |
|
Designation : |
Director |
|
Address : |
B – 1604, Floor 16th, Plot 243, B Wing, Orchid enclaves,
Opposite to Mumbai Central Bus Depot, Mumbai- 400008, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1973 |
|
Qualification : |
Undergraduate |
|
Date of Appointment : |
28.03.2003 |
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DIN No.: |
02622803 |
|
|
|
|
Name : |
Mrs. Amina Essa Merchant |
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Designation : |
Director |
|
Address : |
B – 1604, Floor 16th, Plot 243, B Wing, Orchid enclaves, Opposite
to Mumbai Central Bus Depot, Mumbai- 400008, Maharashtra, India |
|
Date of Birth/Age : |
13.02.1981 |
|
Date of Appointment : |
28.03.2003 |
|
DIN No.: |
02622818 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Sharma |
|
Designation : |
Senior Manager – Accounts and finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Essa Ismail Merchant |
5000 |
3.85 |
|
Amina Essa Merchant |
125000 |
96.15 |
|
|
|
|
|
Total |
130000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in carrying on the business of distribution ship of
mobile handsets, data cards and its accessories. |
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Products : |
Not Available |
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Brand Names : |
Lenovo smart Phones |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Credit (30 Days) |
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Purchasing : |
Credit (45 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Khushalani and Company Chartered Accountants |
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Address : |
110-111,Vardhaman Industrial Complex, Near Royal Inn Hotel, Gokul Nagar, Thane – 400601, Maharashtra, India |
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Tel. No.: |
91-22-21721277 |
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Fax No.: |
91-21721278 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAMFK8602J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
130,000 |
Equity Shares |
Rs.10/- each |
Rs. 1.300
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
|
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I.
EQUITY AND LIABILITIES |
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|
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(1)Shareholders' Funds |
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|
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(a) Share Capital |
1.300 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
(28.003) |
0.654 |
(0.001) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
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(2) Share Application money
pending allotment |
0.000 |
1.200 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
(26.703) |
1.954 |
0.099 |
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(3) Non-Current Liabilities |
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
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(4) Current Liabilities |
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|
|
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(a) Short term borrowings |
76.038 |
73.351 |
0.000 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current liabilities |
14.856 |
0.058 |
0.000 |
|
(d) Short-term provisions |
1.502 |
0.456 |
0.000 |
|
Total
Current Liabilities (4) |
92.396 |
73.865 |
0.000 |
|
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|
|
|
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TOTAL |
65.693 |
75.819 |
0.099 |
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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 |
|
|
|
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(ii) Intangible Assets |
1.880 |
1.879 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.025 |
0.025 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
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Total
Non-Current Assets |
1.905 |
1.904 |
0.000 |
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
7.829 |
12.805 |
0.000 |
|
(c) Trade receivables |
12.906 |
36.856 |
0.000 |
|
(d) Cash and cash equivalents |
2.167 |
0.406 |
0.099 |
|
(e) Short-term loans and
advances |
40.810 |
2.225 |
0.000 |
|
(f) Other current assets |
0.076 |
21.623 |
0.000 |
|
Total
Current Assets |
63.788 |
73.915 |
0.099 |
|
|
|
|
|
|
TOTAL |
65.693 |
75.819 |
0.099 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
77.092 |
107.830 |
NA |
|
|
Other Income |
2.500 |
0.000 |
NA |
|
|
TOTAL
(A) |
79.592 |
107.830 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
67.688 |
112.577 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
4.976 |
(12.804) |
|
|
|
Employees benefits expense |
17.258 |
1.057 |
|
|
|
Other expenses |
6.731 |
0.852 |
|
|
|
TOTAL
(B) |
96.653 |
101.682 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(17.061) |
6.148 |
NA |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.605 |
5.164 |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(28.666) |
0.984 |
NA |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(28.666) |
0.984 |
(0.002) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.287 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(28.666) |
0.697 |
(0.002) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(220.51) |
5.36 |
NA |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
40.000 |
(Doing more activity in sister concern Company but from 2015-2016 they
are going to increasing their activity in this company)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(37.18) |
0.65 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(22.13) |
5.70 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(43.64) |
1.30 |
(2.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.07 |
0.50 |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(2.85) |
37.54 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69 |
1.00 |
NA |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.100 |
0.100 |
1.300 |
|
Reserves & Surplus |
(0.001) |
0.654 |
(28.003) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
1.200 |
0.000 |
|
Net
worth |
0.099 |
1.954 |
(26.703) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
73.351 |
76.038 |
|
Total
borrowings |
0.000 |
73.351 |
76.038 |
|
Debt/Equity
ratio |
0.000 |
37.539 |
(2.848) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
107.830 |
77.092 |
|
|
(28.506) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
107.830 |
77.092 |
|
Profit |
0.697 |
(28.666) |
|
|
0.65% |
(37.18%) |
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
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 |
No |
|
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
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 |
NOTE: Registered office of the company has been shifted from 123 Zakaria Masjid Street Ground Floor, Mumbai – 400009, Maharashtra, India to the present address w.e.f. 29.06.2012
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10382435 |
30/03/2013 * |
27,500,000.00 |
BOMBAY MERCANTILE CO-OPERATIVE BANK LIMITED |
Colaba Branch, Garden Road,, Colaba Causeway, Opp |
B72211030 |
|
2 |
10382433 |
30/03/2013 * |
30,000,000.00 |
BOMBAY MERCANTILE CO-OPERATIVE BANK LIMITED |
Colaba Branch, Garden Road,, Colaba Causeway, Opp |
B72209547 |
*Date of charge modification
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 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.63.46 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.70.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.