MIRA INFORM REPORT
|
Report No. : |
325470 |
|
Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
VHV BEVERAGES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat No. 7228, Sector D, Pocket-7, Vasant Kunj, New Delhi - 110070 |
|
Mobile No.: |
91-9971038866 (Mr. Vishnoo) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.09.2012 |
|
|
|
|
Com. Reg. No.: |
55-242587 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 48.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15494DL2012PTC242587 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in manufacturing of packaged drinking water and
carbonated soft drinks. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 50000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new private limited company established in the
year 2012, having moderate track. Company has incurred huge losses from its 2nd year of operations
in FY14 as compare to previous year, further company has recorded huge
external borrowings in FY14 as compare to previous year. Rating also takes into consideration limited track record of company’s
operations and weak financial risk profile in a highly competitive industry. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealings with 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.
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 |
CRISIL |
|
Rating |
Long term : B |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk. |
|
Date |
28.02.2014 |
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. Vishnoo |
|
Designation : |
Admin Incharge |
|
Contact No.: |
91-9971038866 |
|
Date : |
02.06.2015 |
LOCATIONS
|
Registered Office : |
Flat No. 7228, Sector D, Pocket-7, Vasant Kunj, New Delhi - 110070, India |
|
Tel. No.: |
91-11-41064041 |
|
Mobile No.: |
91-9971038866 (Mr. Vishnoo) |
|
Fax No.: |
91-11-41064041 |
|
E-Mail : |
|
|
Website : |
http://www.vhvbeverages.com [Under Construction] |
|
|
|
|
Manufacturing Unit : |
Located at : Jhajjar, Haryana, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Vinod Sehwag |
|
Designation : |
Director |
|
Address : |
X-12, Hauz Khas, New Delhi, 110016, India |
|
Date of Birth/Age : |
27.01.1979 |
|
Date of Appointment : |
20.09.2012 |
|
DIN No.: |
03322721 |
|
|
|
|
Name : |
Homi |
|
Designation : |
Director |
|
Address : |
37A, Rati Ram Park, Naya Bazar, Najafgarh, Dharampura Extn., New Delhi - 110043, India |
|
Date of Birth/Age : |
14.07.1980 |
|
Date of Appointment : |
20.09.2012 |
|
DIN No.: |
05218452 |
|
|
|
|
Name : |
Pooja Malhotra |
|
Designation : |
Director |
|
Address : |
D-7/7018, Vasant Kunj, New Delhi - 110070, India |
|
Date of Birth/Age : |
24.09.1979 |
|
Date of Appointment : |
25.09.2012 |
|
DIN No.: |
06387987 |
KEY EXECUTIVES
|
Name : |
Mr. Vishnoo |
|
Designation : |
Admin Incharge |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
V&V Corporation Private Limited, India |
|
4850000 |
|
Total |
|
4850000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in manufacturing of packaged drinking water and
carbonated soft drinks. |
|
|
|
|
Brand Names : |
Xalta |
|
|
|
|
Agencies Held : |
-- |
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|
|
|
Exports : |
Not Divulged |
|
|
|
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Imports : |
Not Divulged |
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|
|
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Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Surender Kumar and Associates Chartered Accountants |
|
Address : |
168/6, Shri Krishna Apartment, Vasundra, Ghaziabad – 201012, Uttar
Pradesh, India |
|
Tel. No.: |
91-120-4107622 |
|
Mobile No.: |
91-9810648946 |
|
PAN No.: |
AETPG8064K |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
|
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Holding Company: |
V&V Corporation Private Limited [U63000DL2012PTC236652] |
CAPITAL STRUCTURE
AFTER AS ON
30.09.2014
Authorised Capital :
Rs.75.000 Million
Issued, Subscribed & Paid-up Capital : Rs.75.000 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4850000 |
Equity Shares |
Rs.10/- each |
Rs.48.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
20.09.2012 TO 31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
48.500 |
9.920 |
|
(b) Reserves &
Surplus |
|
(37.688) |
0.150 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
7.500 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
18.312 |
10.070 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
214.403 |
0.010 |
|
(b) Deferred tax
liabilities (Net) |
|
4.162 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
218.565 |
0.010 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
10.059 |
0.030 |
|
(b) Trade payables |
|
12.191 |
2.356 |
|
(c) Other current
liabilities |
|
3.933 |
1.062 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
|
26.183 |
3.448 |
|
|
|
|
|
|
TOTAL |
|
263.060 |
13.528 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
170.944 |
0.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.127 |
1.752 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
173.071 |
1.752 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3.611 |
0.000 |
|
(c) Trade receivables |
|
17.376 |
0.000 |
|
(d) Cash and cash
equivalents |
|
2.538 |
4.043 |
|
(e) Short-term loans and
advances |
|
55.322 |
4.106 |
|
(f) Other current assets |
|
11.142 |
3.627 |
|
Total Current Assets |
|
89.989 |
11.776 |
|
|
|
|
|
|
TOTAL |
|
263.060 |
13.528 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
20.09.2012 TO 31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
|
12.675 |
4.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
|
46.351 |
4.283 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
(33.676) |
0.217 |
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.067 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
(33.676) |
0.150 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
(7.80) |
0.15 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
20.09.2012 TO 31.03.2013 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
20.09.2012 TO 31.03.2013 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(12.80) |
1.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(1.84) |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
12.26 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.44 |
3.42 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
|
20.09.2012 TO 31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
|
9.920 |
48.500 |
|
Reserves & Surplus |
|
0.150 |
(37.688) |
|
Share Application money
pending allotment |
|
0.000 |
7.500 |
|
Net worth |
|
10.070 |
18.312 |
|
|
|
|
|
|
long-term borrowings |
|
0.010 |
214.403 |
|
Short term borrowings |
|
0.030 |
10.059 |
|
Total borrowings |
|
0.040 |
224.462 |
|
Debt/Equity ratio |
|
0.004 |
12.258 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
20.09.2012 TO 31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
|
4.500 |
12.675 |
|
|
|
181.667 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
20.09.2012 TO 31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
|
4.500 |
12.675 |
|
Profit/Loss |
|
0.150 |
(33.676) |
|
|
|
3.33% |
(265.69%) |
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 |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from other parties |
6.882 |
0.000 |
|
Loans from V&V Corporation Private Limited |
51.238 |
0.010 |
|
Short-term
borrowings |
|
|
|
Loans from related parties |
|
|
|
Vinod Sehwag |
0.000 |
0.030 |
|
Total |
58.120 |
0.040 |
INDEX OF CHARGES :
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10486301 |
01/01/2015 * |
105,000,000.00 |
VIJAYA BANK |
1488-89, CHANDNI CHOWK, DELHI, DELHI - 110006, IND |
C43450329 |
|
2 |
10458523 |
11/10/2013 |
10,000,000.00 |
VIJAYA BANK |
1488-89, CHANDNI CHOWK, DELHI, DELHI - 110006, IN |
B88863915 |
|
3 |
10425979 |
03/05/2013 |
123,000,000.00 |
VIJAYA BANK |
CHANDNI CHOWK BRANCH, DELHI, DELHI - 110006, INDIA |
B75216382 |
* Date of charge modification
FINANCIAL REVIEW
The accounts for the year ended on 31.03.2014 shows
a Net Loss of Rs.33.676 Million. The turnover of the company during the year
aggregating Rs.12.667 Million. The management is hopeful of maintaining steady
growth and earning better profits in the next financial year.
NOTE :
The registered office of the company has been
shifted from Flat No- 7228, Sector-D, Pocket-7, New Delhi -110070, India to the
present address w.e.f. 24.08.2013.
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.63.83 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.