MIRA INFORM REPORT

 

 

Report No. :

325223

Report Date :

01.06.2015

 

IDENTIFICATION DETAILS

 

Name :

AVIS INDIA

 

 

Registered Office :

Off No. 21 and 22, 2nd Floor, Royal Chambers, Paud Road, Pune – 411038, Maharashtra

Tel. No.:

91-20-25431843 / 25436840

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Year of Establishment :

1997

 

 

Com. Reg. No.:

11-8797

 

 

Capital Investment / Paid-up Capital :

Rs.99.596 Million

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AGWPK0971G

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Manufacturer of different types of industrial buildings with heavy machinery foundation for sugar factories, distilleries, co-generation for sugar factories, power plants, wastewater treatment plants, boiling house equipment for sugar plants and also engaged in construction activity.

 

 

No. of Employees :

15 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established proprietary concern having satisfactory track record.

 

Trade relations are fair. Business is active. Payment terms are usually correct.

 

The concern can be considered normal for business dealings at usual trade terms and condition.

 

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

 

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. Vijay Kulkarni

Designation :

Proprietor

Contact No.:

91-9890999461

Date :

29.05.2015

 

 

LOCATIONS

 

Registered Office :

Off No. 21 and 22, 2nd Floor, Royal Chambers, Paud Road, Pune – 411038, Maharashtra

Tel. No.:

91-20-25431843 / 25436840

Mobile No.:

91-9890999461 (Mr. Vijay Kulkarni)

Fax No.:

91-20-25431843 / 25436840

E-Mail :

avisindia@vsnl.net

Website :

www.avisindia.org

Location :

Owned

 

 

Factory :

C/9-4, M.I.D.C. Jejur Tal – Purandar District, Pune, Maharashtra, India

Tel. No.:

91-2115-254029

E-Mail :

avisindia@vsnl.net

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. Vijay Narayan Kulkarni

Designation :

Proprietor

Address :

15, Apline, Bloom Field, Near Mumbai – Bangalore Highway, Ambegaon, Bangalore, Karnataka, India

Date of Birth/Age :

01.06.1955

Qualification :

Graduate

Experience :

39 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of different types of industrial buildings with heavy machinery foundation for sugar factories, distilleries, co-generation for sugar factories, power plants, wastewater treatment plants, boiling house equipment for sugar plants and also engaged in construction activity.

 

 

Products / Services :
  • Sugar Machineries
  • Civil Work

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

90 Days

 

 

Purchasing :

Credit (30 Days)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

15 (Approximately)

 

 

Bankers :

Banker Name

Bank of Maharashtra

Branch Address

Paud Phata, Kothrud, Pune, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Credit Limit = Rs.92.000 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Auditors :

 

Name :

Bhushan S. Bapat

Chartered Accountant

Address :

Shukrwar Peth, Pune, Maharashtra, India

Tel. No.:

91-20-24459390

E-Mail :

bhushanbapat27@gmail.com

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Particulars

Rs. In Million

Opening Balance

86.627

Add : Additions (Rent Received)

0.000

Add : Net Profit / (Loss) for the year

26.005

Add : Interest on IT Refund

0.000

Total

112.632

Less : Drawings

13.036

Closing Balance

99.596

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2014

31.03.2013

SHAREHOLDERS FUNDS

 

 

 

1] Proprietor’s Capital

 

99.596

86.627

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

0.000

0.000

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

96.596

86.627

LOAN FUNDS

 

 

 

1] Secured Loans

 

97.668

57.314

2] Unsecured Loans

 

0.000

0.000

TOTAL BORROWING

 

97.668

57.314

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

197.264

143.941

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

62.465

30.273

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

78.391

68.118

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

38.043

55.578

 

Sundry Debtors
 

37.140

4.767

 

Cash & Bank Balances
 

27.794

33.815

 

Other Current Assets
 

32.341

42.962

 

Loans & Advances
 

0.000

0.000

Total Current Assets
 

135.318

137.122

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 

61.193

38.968

 

Other Current Liabilities
 

0.000

0.000

 

Provisions
 

17.717

52.604

Total Current Liabilities
 

78.910

91.572

Net Current Assets
 

56.408

45.550

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

197.264

143.941

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

 

350.147

323.981

 

 

Other Income

 

6.226

4.995

 

 

TOTAL                                    

 

356.373

328.976

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

 

223.687

214.194

 

 

Factory Overheads

 

25.036

13.340

 

 

Labour Overheads

 

62.903

70.676

 

 

Administrative Overheads

 

7.532

10.256

 

 

Financial Overheads

 

8.090

3.796

 

 

TOTAL                                    

 

327.248

312.262

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

 

29.125

16.714

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

 

3.120

2.994

 

 

 

 

 

 

NET PROFIT

 

26.005

13.720

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2014

31.03.2013

Net Profit Margin

(PAT/Sales)

(%)

 

7.42

4.23

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

13.14

8.19

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

0.26

0.16

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
 

1.01

0.66

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.71

1.49

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Proprietor’s Capital

86.627

99.596

Reserves & Surplus

0.000

0.000

Net worth

86.627

99.596

 

 

 

Secured Loans

57.314

97.668

Unsecured Loans

0.000

0.000

Total borrowings

57.314

97.668

Debt/Equity ratio

0.662

0.981

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

323.981

350.147

 

 

8.076

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

323.981

350.147

Profit

13.720

26.005

 

4.23%

7.43%

 

 

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

----------------------

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

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 two years

Yes

27

Reasons for variation <> 20%

----------------------

28

Estimation for coming financial year

No

29

Profitability for last two 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

 

TRADE REFERENCES

 

Shri Vithal S. S. K. Limited

Address: Tal. Pandharpur, District Solapur, Maharashtra, India

Tel. No.: 91-2186-249550

Shri Sant Tukaram S. S. K. Limited

Address: Kasarsai, Tal. Mulshi, District Pune, Maharashtra, India

Tel. No.: 91-20-2029300

 

 

FIXED ASSETS

 

  • Furniture
  • Computer
  • Office Equipment
  • Plant and Machinery

 

 

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.63.76

UK Pound

1

Rs.97.79

Euro

1

Rs.69.90

 

 

INFORMATION DETAILS

 

Information Gathered by :

RKH

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

PNM

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY 

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

6

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

 

47

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.