MIRA INFORM REPORT
|
Report No. : |
324473 |
|
Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOUTH END TRADE LINKS |
|
|
|
|
Registered
Office : |
T.C-13/1678(3) 1st Floor, Opposite G.G Hospital, Murinjapalam-Kumarapuram Road, Medical College P.O, Trivandrum – 695011, Kerala |
|
Tel. No.: |
91-471-4018 222 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Year of Establishment
: |
2005 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.445 Million |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturer, Wholesaler and Distributor of pharmaceutical products. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 16000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporate in the year 2005, it is an established
proprietary concern having satisfactory track. Mr. Lenin Raveendra N., Proprietor has provided all the information to
us. The concern is engaged into manufacturing, wholesaling and distribution
of pharmaceuticals. Further Mr. Lenin Raveendra N (Son of Proprietor) claimed that till
January 2013 balance sheet was prepared on the name of his father Mr.
Raveendra and after January 2013 he is looking after the activities of
business. Due to change in proprietorship financial are now prepared on the
name of Mr. Lenin Raveendra. The general financial position of the concern seems to be sound and
healthy. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. In a view aforesaid, the concern can be considered for business
dealings at 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
|
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. Lenin Raveendra N. |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9995822270 |
|
Date : |
03.06.2015 |
LOCATIONS
|
Registered Office / Head Office : |
T.C-13/1678(3) 1st Floor, Opposite G.G Hospital, Murinjapalam-Kumarapuram Road, Medical College P.O, Trivandrum – 695011, Kerala, India |
|
Tel. No.: |
91-471-4018 222 / 2442 822 |
|
Mobile No.: |
91-9995822270 (Mr. Lenin Ravendra N.) |
|
Fax No.: |
91-471-2442 822 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Branch Office : |
Mirus Biologicals , Door No. 1541, 386F, Radhakrishna Building, Kadappakkada, Kollam-8, Tamilnadu, India |
|
Tel. No.: |
91-474-6068 222 |
|
E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. Lenin Raveendra N. |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Wholesaler and Distributor of pharmaceutical products. |
|
|
|
|
Products : |
Pharmaceutical products |
|
|
|
|
Brand Names : |
-- |
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|
|
|
Agencies Held : |
--- |
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|
|
|
Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
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|
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Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
GSPU and Associates Chartered Accountants |
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|
|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
CAPITAL
ACCOUNT [AS ON 31.03.2014]
[RS.
IN MILLION]
|
PARTICULARS |
|
AMOUNT |
|
Opening Balance |
|
4.887 |
|
Add: Net Profit |
|
1.085 |
|
Less : Drawing |
|
(0.527) |
|
Total |
|
5.445 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 [2 Months] |
31.01.2013 [10 Months] |
31.03.2012 |
|
|
|
|
|
|
|
SOURCES OF FUNDS |
|
|
|
|
|
1] Capital Account |
5.445 |
4.887 |
4.666 |
2.451 |
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
NETWORTH |
5.445 |
4.887 |
4.666 |
2.451 |
|
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.247 |
3.141 |
1.622 |
1.795 |
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
0.000 |
|
TOTAL BORROWING |
6.247 |
3.141 |
1.622 |
1.795 |
|
|
|
|
|
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL |
11.692 |
8.028 |
6.288 |
4.246 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.808 |
0.142 |
0.012 |
0.013 |
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
Inventories |
6.501 |
4.272 |
3.767 |
6.857 |
|
Sundry Debtors |
7.076 |
4.950 |
3.399 |
0.808 |
|
Cash & Bank Balances |
0.110 |
0.128 |
0.272 |
2.445 |
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
Loans & Advances and Deposits |
0.150 |
0.030 |
0.030 |
0.034 |
|
Total Current Assets |
13.837 |
9.380 |
7.468 |
10.144 |
|
|
|
|
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
Sundry Creditors |
3.661 |
1.486 |
1.187 |
5.905 |
|
Other Current Liabilities / Duty and Taxes |
0.292 |
0.008 |
0.005 |
0.006 |
|
Provisions |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities |
3.953 |
1.494 |
1.192 |
5.911 |
|
|
|
|
|
|
|
Net Current Assets |
9.884 |
7.886 |
6.276 |
4.233 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL |
11.692 |
8.028 |
6.288 |
4.246 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 [2 Months] |
31.01.2013 [10 Months] |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
|
Income |
61.032 |
8.257 |
44.726 |
33.284 |
|
|
Other Income |
0.369 |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
61.401 |
8.257 |
44.726 |
33.284 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Goods Sold |
52.324 |
7.593 |
35.501 |
31.419 |
|
|
Wages |
0.824 |
0.000 |
0.000 |
0.000 |
|
|
Freight |
1.533 |
0.000 |
0.000 |
0.000 |
|
|
Salary and Allowance |
0.680 |
0.058 |
1.255 |
0.412 |
|
|
Staff Wale fare Expenses |
0.079 |
0.000 |
0.000 |
0.000 |
|
|
Bata to Staff |
0.115 |
0.009 |
0.180 |
0.000 |
|
|
Bank Interest and charges
|
0.417 |
0.039 |
0.198 |
0.275 |
|
|
Audit Fees |
0.028 |
0.000 |
0.000 |
0.000 |
|
|
Accounting Charges |
0.060 |
0.000 |
0.000 |
0.000 |
|
|
Carriage Inward and
Outward |
0.490 |
0.000 |
0.000 |
0.000 |
|
|
Postage and Courier
Expenses |
0.070 |
0.000 |
0.046 |
0.056 |
|
|
Electricity and Water
Charges |
0.193 |
0.010 |
0.076 |
0.049 |
|
|
Sales Commission |
0.332 |
0.000 |
0.538 |
0.142 |
|
|
Interest on Vehicle Loans
|
0.105 |
0.000 |
0.000 |
0.000 |
|
|
Fuel Expenses |
0.489 |
0.000 |
0.000 |
0.000 |
|
|
Office Expenses |
0.191 |
0.000 |
0.000 |
0.000 |
|
|
Printing and Stationery |
0.199 |
0.005 |
0.073 |
0.050 |
|
|
Repairs and Maintenance |
0.439 |
0.000 |
0.000 |
0.000 |
|
|
General Expenses |
0.204 |
0.000 |
0.000 |
0.000 |
|
|
Rent |
0.175 |
0.014 |
0.070 |
0.180 |
|
|
Shop Expenses |
0.176 |
0.015 |
0.071 |
0.000 |
|
|
Travelling Expenses |
0.209 |
0.015 |
0.162 |
0.190 |
|
|
Transportation Expenses |
0.490 |
0.000 |
6.093 |
0.000 |
|
|
Vat Paid |
0.000 |
0.012 |
0.000 |
0.000 |
|
|
Vat And Renewal Fees |
0.000 |
0.001 |
0.002 |
0.002 |
|
|
Telephone Charges |
0.139 |
0.014 |
0.087 |
0.000 |
|
|
Other Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
59.961 |
7.785 |
44.352 |
32.775 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
DEPRECIATION AND AMORTISATION |
1.440 |
0.472 |
0.374 |
0.509 |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.355 |
0.001 |
0.001 |
0.001 |
|
|
|
|
|
|
|
|
|
NET PROFIT/ (LOSS) |
1.085 |
0.471 |
0.373 |
0.508 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 [2 Months] |
31.01.2013 [10 Months] |
31.03.2012 |
|
Net Profit Margin |
(%) |
1.78 |
5.70 |
0.83 |
1.53 |
|
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
2.36 |
5.72 |
0.84 |
1.53 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.94 |
4.95 |
4.99 |
5.00 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.10 |
0.08 |
0.21 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.15 |
0.64 |
0.35 |
0.73 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.50 |
6.28 |
6.27 |
1.72 |
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) |
|
Capital Account |
2.451 |
9.553 |
5.445 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net worth |
2.451 |
9.553 |
5.445 |
|
|
|
|
|
|
Secured Loans |
1.795 |
4.763 |
6.247 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
1.795 |
4.763 |
6.247 |
|
Debt/Equity ratio |
0.732 |
0.499 |
1.147 |
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 |
33.284 |
52.983 |
61.032 |
|
|
|
59.185 |
15.192 |
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 |
33.284 |
52.983 |
61.032 |
|
Profit |
0.508 |
0.844 |
1.085 |
|
|
1.53% |
1.59% |
1.78% |
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 |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
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 |
No |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last four 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.64.11 |
|
|
1 |
Rs.97.84 |
|
Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
KAS / KAR |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
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 |
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 |
|
45 |
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.