MIRA INFORM REPORT
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Report No. : |
323195.2 |
|
Report Date : |
17.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MULCHAND LALJI AND COMPANY |
|
|
|
|
Registered
Office : |
Block No. 202/203, Bora Bazar Street, 1st Floor, Fort,
Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-22617299 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Establishment : |
19.12.1966 |
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|
|
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Capital Investment
/ Paid-up Capital : |
Rs. 7.576 Million |
|
|
|
|
TIN No.: |
Not Available |
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|
|
|
IEC No.: |
0389015881 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAIFM2038A |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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|
|
Line of Business
: |
Subject is engaged into paper products, new paper and magazines
printing machinery and services etc. |
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|
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No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a partnership concern established in the year 1966. It has
moderate track record. In the view of financials of the year 2014, the concern has decent sales
turnover marked by decline in the profits from previous years and it has
achieved minimal profits along with low profitability margin. Further, the concern has reported an increase in its borrowings. The concern has long history of business track record along with
respectable and experienced partners. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The concern can be considered for business dealings with some
cautions. |
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. Hitesh Mulchand shah |
|
Designation : |
Partner |
|
Contact No.: |
91-9820027299 |
|
Date : |
16.07.2015 |
LOCATIONS
|
Registered Office : |
Block No. 202/203, Bora Bazar Street, 1st Floor, Fort,
Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22617299/261787722617272/22617878 |
|
Mobile No.: |
91-9820027299 (Mr. Hitesh) |
|
Fax No.: |
91-22-22611207 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Hitesh Mulchand shah |
|
Designation : |
Partner |
|
Address : |
Flat No. 17/18, 4th Floor, Windsor Chambers, 7, Cawasji
Patal Street, Fort, Mumbai – 400001, Maharashtra, India |
|
Date of Birth : |
08.06.1970 |
|
Qualification : |
B.Com |
|
Experience : |
20 Years |
|
|
|
|
Name : |
Mr. Mulchand L. Shah |
|
Designation : |
Partner |
|
Address : |
Flat No. 17/18, 4th Floor, Windsor Chambers, 7, Cawasji
Patal Street, Fort, Mumbai – 400001, Maharashtra, India |
|
Date of Birth : |
05.07.1944 |
|
Experience : |
49 Years |
|
|
|
|
Name : |
Mr. Jayesh M. Shah |
|
Designation : |
Partner |
|
Address : |
Flat No. 17/18, 4th Floor, Windsor Chambers, 7, Cawasji
Patal Street, Fort, Mumbai – 400001, Maharashtra, India |
|
Date of Birth : |
18.05.1968 |
|
Qualification : |
B.Com |
|
Experience : |
22 Years |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into paper products, new paper and magazines
printing machinery and services etc. |
|
|
|
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Products : |
Not Available |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash and Credit (30 Days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
4 (Approximately) |
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Bankers : |
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Auditors : |
|
|
Name : |
R. Kabra and Company Chartered Accountants |
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Address : |
515, Tulsiani Chambers, Nariman Point, Mumbai- 400021, Maharashtra,
India |
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Tel. No.: |
91-22-22044737/22830990 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern: |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
|
Particulars |
Amount |
Amount |
|
Mulchand Lalji shah |
|
|
|
Fixed Capital |
0.030 |
|
|
Current Account |
|
|
|
Opening Balance |
3.785 |
|
|
Add: Additional Capital Introduced |
- |
|
|
Profit for the year |
0.330 |
|
|
Interest on current capital |
0.166 |
|
|
Salary |
1.440 |
|
|
Interest on fixed Capital |
0.004 |
|
|
|
|
5.725 |
|
Less: Drawing |
(4.965) |
|
|
|
|
0.760 |
|
Closing Balance
(A) |
|
0.790 |
|
|
|
|
|
Jayesh M. Shah |
|
|
|
Fixed Capital |
0.010 |
|
|
Current Account |
|
|
|
Opening Balance |
0.838 |
|
|
Add: Additional Capital Introduced |
2.400 |
|
|
Profit for the year |
0.110 |
|
|
Interest on current capital |
0.229 |
|
|
Interest on fixed capital |
0.001 |
|
|
|
|
3.578 |
|
Less: Drawing |
(1.340) |
|
|
|
|
2.238 |
|
Closing Balance
(B) |
|
2.248 |
|
|
|
|
|
Hitesh M. Shah |
|
|
|
Fixed Capital |
0.010 |
|
|
Current Account |
|
|
|
Opening Balance |
6.257 |
|
|
Add: Additional Capital Introduced |
4.900 |
|
|
Profit for the year |
0.110 |
|
|
Interest on current capital |
0.463 |
|
|
Interest on fixed capital |
0.001 |
|
|
|
|
11.731 |
|
Less: Drawing |
(7.205) |
|
|
|
|
4.526 |
|
Closing Balance
(C) |
|
4.537 |
|
|
|
|
|
Total Capital
(A+B+C) |
|
7.576 |
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
7.576 |
10.931 |
5.728 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.576 |
10.931 |
5.728 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
27.909 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
21.805 |
16.535 |
22.686 |
|
|
TOTAL BORROWING |
49.714 |
16.535 |
22.686 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
57.290 |
27.466 |
28.414 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.640 |
0.726 |
0.821 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.103 |
0.103 |
0.103 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.886
|
1.804
|
2.746
|
|
|
Sundry Debtors |
34.089
|
20.462
|
22.852
|
|
|
Cash & Bank Balances |
22.314
|
3.105
|
0.819
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
6.174
|
5.522
|
4.343
|
|
Total
Current Assets |
68.463
|
30.893
|
30.760
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
11.916
|
4.256
|
3.270
|
|
|
Net Current Assets |
56.547
|
26.637
|
27.490
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
57.290 |
27.466 |
28.414 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
185.765 |
128.038 |
98.220 |
|
|
Other Income |
1.058 |
0.474 |
1.173 |
|
|
Interest and commission
received |
1.702 |
3.072 |
3.100 |
|
|
TOTAL
|
188.525 |
131.584 |
102.493 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of goods sold |
179.061 |
122.788 |
95.159 |
|
|
Administration, Selling and
Distribution expenses |
2.421 |
1.200 |
1.200 |
|
|
Interest and financial charges |
4.695 |
3.822 |
4.484 |
|
|
Salary to Partner |
1.440 |
1.680 |
0.450 |
|
|
TOTAL
|
187.617 |
129.490 |
101.293 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.908 |
2.094 |
1.200 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.111 |
0.128 |
0.139 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
0.797 |
1.966 |
1.061 |
|
|
|
|
|
|
|
Less |
TAX |
0.246 |
0.609 |
0.287 |
|
|
|
|
|
|
|
|
NET PROFIT/ (LOSS)
AFTER TAX |
0.551 |
1.357 |
0.774 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.30 |
1.06 |
0.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.58 |
3.14 |
1.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.18 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.56 |
1.51 |
3.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03 |
1.49 |
1.19 |
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 |
5.728 |
10.931 |
7.576 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5.728 |
10.931 |
7.576 |
|
|
|
|
|
|
Secured Loan |
0.000 |
0.000 |
27.909 |
|
Unsecured Loan |
22.686 |
16.535 |
21.805 |
|
Total
borrowings |
22.686 |
16.535 |
49.714 |
|
Debt/Equity
ratio |
3.961 |
1.513 |
6.562 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
98.220 |
128.038 |
185.765 |
|
|
|
30.358 |
45.086 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
98.220 |
128.038 |
185.765 |
|
Profit |
0.774 |
1.357 |
0.551 |
|
|
0.79% |
1.06% |
0.30% |
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 |
No |
|
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 |
No |
|
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 |
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 |
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.63.50 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.69.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ART |
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 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
27 |
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.