MIRA INFORM REPORT

 

 

Report No. :

324730

Report Date :

03.06.2015

 

IDENTIFICATION DETAILS

 

Name :

POOJA FLOOR AND FURNISHING PRIVATE LIMITED

 

 

Registered Office :

SG-08-09, J.D.A. Complex, Shubhash Nagar, Jaipur – 302016, Rajasthan

Tel. No.:

91-141-2280701

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

31.07.2008

 

 

Com. Reg. No.:

17-027093

 

 

Capital Investment / Paid-up Capital :

Rs. 0.500 Million

 

 

CIN No.:

[Company Identification No.]

U17229RJ2008PTC027093

 

 

IEC No.:

1308008961

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

JPRP03263B

 

 

PAN No.:

[Permanent Account No.]

AAECP7619P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of Floor Coverning Carpets and Wall Papers.

 

 

No. of Employees :

15 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 20000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is established company and it is having satisfactory track record.

 

From the financial 2014, the company have performed above an average and reported top line growth of 42.25% in its sales turnover. The profitability margin also stood at 1.17% backed by its debt to equity at 1.50 times.

 

Rating takes account on company established track record of business operation’s and by sound financial of the company.

 

Trade relations are fair. Business is active and payment are reported to be usually correct.

 

In a view of sound operational, the company can be considered for business dealing with its usual 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.

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Shiv Shankar Kothari

Designation :

Director

Contact No.:

91-9829019701

Date :

28.05.2015

 

 

LOCATIONS

 

Registered Office :

SG-08-09, J.D.A. Complex, Shubhash Nagar, Jaipur – 302016, Rajasthan, India

Tel. No.:

91-141-2280701

Mobile No:

91-9829019701 (Mr. Shiv Shankar Kothari)

Fax No.:

Not Available

E-Mail :

poojafandf@gmail.com

Website :

www.gmdu.net

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Shiv Shanker Kothari

Designation :

Director

Address :

Plot No. 70, Sector – 6, Vidhyadhar Nagar, Jaipur – 302023, Rajasthan, India

Date of Birth/Age :

22.07.1974

Date of Appointment :

31.07.2008

DIN No.:

02256449

 

 

Name :

Mr. Manoj Kumar Kothari

Designation :

Director

Address :

Plot No. 70, Sector – 6, Vidhyadhar Nagar, Jaipur – 302023, Rajasthan, India

Date of Birth/Age :

10.05.1978

Date of Appointment :

31.07.2008

DIN No.:

02256454

 

 

Name :

Mr. Kishan Kumar Kothari

Designation :

Director

Address :

Plot No. 70, Sector – 6, Vidhyadhar Nagar, Jaipur – 302023, Rajasthan, India

Date of Birth/Age :

22.01.1984

Date of Appointment :

31.07.2008

DIN No.:

02256463

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

 

Manoj Kumar Kothari

 

7500

Shiv Shanker Kothari

 

7500

Kishan Kumar Kothari

 

7500

Shree Megh Raj Kothari

 

2500

Tara Devi Kothari

 

10000

Vijay Shankar Kothari

 

2500

Uma Shankar Kothari

 

2500

Madhuri Kothari

 

2500

Mamta Kothari

 

2500

Sushma Kothari

 

2500

Gavaraja Devi Kothari

 

2500

Total

 

50000

 

AS ON 29.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Floor Coverning Carpets and Wall Papers.

 

 

Products :

--

 

 

Brand Names :

---

 

 

Agencies Held :

---

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

·         Floor Coverning Carpets

·         Wall Papers

Countries :

·         Belgium

·         South Africa

·         China

 

 

Terms :

 

Selling :

Cheque and Credit

 

 

Purchasing :

Cheque and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Retailers and End Users

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

15 (Approximately)

 

 

Bankers :

Bank Name:

State Bank of Bikaner and Jaipur

Branch:

Shastri Nagar Branch, Jaipur-302006, Rajasthan, 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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

CC-Rs 10.000 Million

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         HDFC Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

SBBJ-Car Loan A/C

0.590

0.700

Bank OD A/C

8.461

8.766

Bank Balance at HDFC Bank Limited

0.217

0.000

 

 

 

Total

9.268

9.466

 

Banking Relations :

--

 

 

Auditors :

 

Name :

P.C. Bhansali and Company

Chartered Accountants

Address :

315, 3rd Floor, Krishna Square, Subhash Nagar Shopping Centre, Jaipur-302016, Rajasthan, India

Tel. No.:

91-141-2283795/ 2234923

Mobile No.:

91-9414051362

E-Mail :

bhansalipc01@rediffmail.com

Income-tax PAN of auditor or auditor's firm :

AAIFP3814D

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs. 10/- each

Rs. 0.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs. 10/- each

Rs. 0.500 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.500

0.500

0.500

(b) Reserves & Surplus

6.450

5.271

4.393

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

6.950

5.771

4.893

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(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

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

17.950

16.083

11.858

(b) Trade payables

24.530

24.793

29.751

(c) Other current liabilities

0.591

0.450

0.518

(d) Short-term provisions

0.064

0.058

0.050

Total Current Liabilities (4)

43.135

41.384

42.177

 

 

 

 

TOTAL

50.085

47.155

47.070

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.898

1.111

0.248

(ii) Intangible Assets

0.000

0.000

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

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

0.898

1.111

0.248

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

14.951

15.854

15.713

(c) Trade receivables

32.966

28.927

29.881

(d) Cash and cash equivalents

0.147

0.394

0.493

(e) Short-term loans and advances

0.057

0.041

0.046

(f) Other current assets

1.066

0.828

0.689

Total Current Assets

49.187

46.044

46.822

 

 

 

 

TOTAL

50.085

47.155

47.070

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

GROSS TURNOVER

100.738

70.813

72.165

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION                                  

2.085

1.477

1.953

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.278

0.052

0.050

 

 

 

 

 

 

PROFIT BEFORE TAX

1.807

1.425

1.903

 

 

 

 

 

Less

TAX                                                                 

0.629

0.546

0.611

 

 

 

 

 

 

PROFIT AFTER TAX

1.178

0.879

1.292

 

 

 

 

 

 

Earnings Per Share (Rs.)

23.56

17.58

25.84

 

Expected Sales (2014-15) : Rs 120.000 Million

 

The above information has been parted by Mr. Shiv Shankar Kothari (Director)

 

 

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

Return on Total Assets

(PBT/Total Assets}

(%)

3.61

3.02

4.04

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.26

0.25

0.39

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

2.58

2.79

2.42

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.14

1.11

1.11

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

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

0.500

0.500

0.500

Reserves & Surplus

4.393

5.271

6.450

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

4.893

5.771

6.950

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

11.858

16.083

17.950

Total borrowings

11.858

16.083

17.950

Debt/Equity ratio

2.423

2.787

2.583

 

 

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)

Gross Turnover

72.165

70.813

100.738

 

 

(1.873)

42.259

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Gross Turnover

72.165

70.813

100.738

Profit

1.292

0.879

1.178

 

1.79%

1.24%

1.17%

 

 

 

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)

Yes

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 three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10418743

18/03/2013

700,000.00

STATE BANK OF BIKANER AND JAIPUR

SHASTRI NAGAR BRANCH, JAIPUR- 302006, RAJASTHAN,
INDIA

B72894934

2

10147284

03/07/2012 *

10,000,000.00

STATE BANK OF BIKANER AND JAIPUR

SMALL ENTERPRISES CITY CREDIT CENTER, GROUND FLOOR
,WESTERN WING, LIC DIV OFFICE BUILDING, JAIPUR- 302005, RAJASTHAN , INDIA

B44205128

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

Garavaja Devi Kothari

0.642

0.565

Kishan Kumar Kothari

1.155

1.017

Madhuri Kothari

0.192

0.170

Mamta Kothari

0.242

0.213

Manoj Kumar Kothari

0.762

0.671

Shiv Shankar Kothari

1.285

0.020

Sushma Kothari

0.192

0.169

Tara Devi Kothari

3.583

3.237

Vijay Shankar Kothari

0.629

0.555

Total

8.682

6.617

 

OPERATION:

 

During the Period the company’s performance was very good. The company has worked very effectively which has shown in company’s financial data. During the year the company has achieved turnover Receipts target of Rs. 100.738 Million in spite of recessionary and sluggish market condition and Rs. 1.178 Million has PBDT and Rs 0.549 Million Net Profit. The company has cashed some good contract in this period from some major organization, which increases company working and receipts in few years. The directors are hopeful to achieve better results in forthcoming year.

 

The company’s focus continues to be on improving operational efficiencies in every sphere of its business operation.


FIXED ASSETS:

 

·         Air Conditioner

·         Plant and Machinery

·         Bike

·         Camera Sony

·         Furniture

·         Computer

·         Cycle

·         DVD

·         Fridge

·         TV

·         Office Equipment

·         Mobile

·         Geyser

·         Batteries

·         Etios Car

 

 

 

 

 

 

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 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. 63.85

UK Pound

1

Rs. 98.12

Euro

1

Rs. 71.28

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

42

 

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.