MIRA INFORM REPORT
|
Report No. : |
325550 |
|
Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
NIKOO PRECISION CAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 4A/4B/5, Survey No. 215, Veraval Main Road, Behind Rajdhani Cinema, Veraval - 360024, Gujarat |
|
Tel. No.: |
91-2827-252020/253030 |
|
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|
|
Country : |
India |
|
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|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.08.2012 |
|
|
|
|
Com. Reg. No.: |
04-071601 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.750 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27300GJ2012PTC071601 |
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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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|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and supplier of ferrous and non ferrous investment
casting. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated on 21st August
2012, it has commenced its business operations from January 2014. It is
having a moderate track record. Mr. Parag Patel, Director has provided information to us and claimed
that company has achieved sales turnover of Rs.40.000 Million during 2014-15
which is not verified. As per the financial record of 2014, company has reported minimal
turnover and it has incurred loss from its operations. However, trade relations are fair. Business is active. Payments are
reported to be slow. In view of loss from operations along with limited history of business
operations, the company can be considering for business dealing with great
caution. |
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. Parag Makadia |
|
Designation : |
Director |
|
Contact No.: |
91-9825224826 |
|
Date : |
03.06.2015 |
LOCATIONS
|
Registered Office : |
Plot No. 4A/4B/5, Survey No. 215, Veraval Main Road, Behind Rajdhani Cinema, Veraval - 360024, Gujarat, India |
|
Tel. No.: |
91-2827-252020/253030 |
|
Mobile No.: |
91-9825224826 (Mr. Parag) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Parag Pravinbhai Makadia |
|
Designation : |
Director |
|
Address : |
Haridwar, 6-Yogi Nagar,, Gondal-360311, Gujarat, India |
|
Date of Birth/Age : |
02.01.1978 |
|
Date of Appointment : |
21.08.2012 |
|
DIN No.: |
01371340 |
|
|
|
|
Name : |
Mr. Shaileshbhai Vallabhbhai Dalsania |
|
Designation : |
Director |
|
Address : |
Vaikunth, Plot No-33, Silver Sebd, Rajkot-360007, Gujarat, India |
|
Date of Appointment : |
21.08.2012 |
|
DIN No.: |
01498846 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Shaileshbhai Vallabhbhai
|
|
80000 |
|
Dilipbahi Dalsania |
|
40000 |
|
Seemaben Dalsania |
|
40000 |
|
Vanitaben Dalsania |
|
40000 |
|
Vallabhbhai Dalsania |
|
30000 |
|
Aashokbhai Patel |
|
65000 |
|
Praveenbhai Patel |
|
50000 |
|
Sarlaben A. Patel |
|
50000 |
|
Mrudulaben Patel |
|
25000 |
|
Parag Pravinbhai Makadia |
|
40000 |
|
Kantibhai Dalsania |
|
57500 |
|
Rekhaben Dalsania |
|
57500 |
|
Total |
|
575000 |
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 : |
Manufacturer and supplier of ferrous and non ferrous investment
casting. |
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|
|
|
Products : |
Not Available |
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Brand Names : |
Not Available |
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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 : |
Cash / Credit (30/60/90 Days) |
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Purchasing : |
Cash / Credit (30/60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Kalaria and Sampat Chartered Accountants |
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Address : |
302-305, Star Avenue, Dr. Radhakrishnan Road, Opp : Rajkumar College, Rajkot-360001, Gujarat, India |
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Tel. No.: |
91-281-2468164/2464391 |
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Fax No.: |
91-291-2463078 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFK2045F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600,000 |
Equity Shares |
Rs.10/- each |
Rs. 6.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
575,000 |
Equity Shares |
Rs.10/- each |
Rs. 5.750
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5.750 |
5.000 |
|
(b) Reserves & Surplus |
|
3.374 |
4.619 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
9.124 |
9.619 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
37.623 |
3.008 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
37.623 |
3.008 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.779 |
0.000 |
|
(b) Trade
payables |
|
1.613 |
0.000 |
|
(c) Other
current liabilities |
|
8.674 |
0.156 |
|
(d) Short-term
provisions |
|
0.020 |
0.000 |
|
Total Current
Liabilities (4) |
|
11.086 |
0.156 |
|
|
|
|
|
|
TOTAL |
|
57.833 |
12.783 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
47.750 |
1.725 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
9.902 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
1.061 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.804 |
0.170 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
51.615 |
11.797 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3.289 |
0.000 |
|
(c) Trade
receivables |
|
0.279 |
0.000 |
|
(d) Cash
and cash equivalents |
|
1.112 |
0.986 |
|
(e)
Short-term loans and advances |
|
1.468 |
0.000 |
|
(f) Other current
assets |
|
0.070 |
0.000 |
|
Total
Current Assets |
|
6.218 |
0.986 |
|
|
|
|
|
|
TOTAL |
|
57.833 |
12.783 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.237 |
0.000 |
|
|
|
Other Income |
|
0.079 |
0.000 |
|
|
|
TOTAL (A) |
|
0.316 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
0.561 |
0.000 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
|
(1.432) |
0.000 |
|
|
|
Employees benefits expense |
|
0.271 |
0.000 |
|
|
|
Other expenses |
|
2.153 |
0.381 |
|
|
|
TOTAL (B) |
|
1.553 |
0.381 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(1.237) |
(0.381) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.206 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(2.443) |
(0.381) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.612 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
(3.055) |
(0.381) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(1.061) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX
(G-H) (I) |
|
(1.994) |
(0.381) |
|
|
|
|
|
|
|
|
|
|
CIF Value of
Imports |
|
2.726 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(3.64) |
(0.76) |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
40.000 |
The above information has been parted by Mr. Parag Makadia (Director).
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
|
6.000 |
0.000 |
|
Cash generated from operations |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
(841.35) |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
(521.94) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(5.38) |
(13.22) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.33) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
4.87 |
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.56 |
6.32 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
5.000 |
5.750 |
|
Reserves & Surplus |
4.619 |
3.374 |
|
Net
worth |
9.619 |
9.124 |
|
|
|
|
|
long-term borrowings |
3.008 |
37.623 |
|
Short term borrowings |
0.000 |
0.779 |
|
Current maturities of
long-term debts |
0.000 |
6.000 |
|
Total
borrowings |
3.008 |
44.402 |
|
Debt/Equity
ratio |
0.313 |
4.867 |
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 |
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last two 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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from Directors and their related parties |
11.938 |
1.508 |
|
Loans and advances from Shareholders |
4.735 |
1.500 |
|
Total |
16.673 |
3.008 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10446602 |
02/09/2013 |
47,500,000.00 |
Bank of Baroda |
Industrial Estate SME Branch, 2/12 Bhakti Nagar Station Plot 18,
Rajkot, Gujarat - 360002, INDIA |
B83799973 |
FIXED ASSETS
- Land
- Plant and machinery
- Factory
- Furniture and fixture
- Computer
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 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.69.18 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
-- |
|
--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 |
|
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.