MIRA INFORM REPORT
|
Report No. : |
324436.2 |
|
Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
GANAPATI TRADING CO. |
|
|
|
|
Registered
Office : |
31, G.I.D.C. Estate, Highway, Mehsana – 384002, Gujarat |
|
Tel. No.: |
91-2762-251913 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 (Provisional Financial) |
|
|
|
|
Year of
Establishment: |
17.08.2005 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.11.244 Million |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Trader of Edible Oil. |
|
|
|
|
No. of Employees
: |
3 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 was established in the year 2005 as proprietary concern. It is
a trader of Edible Oil. It is a well-established concern having satisfactory
track record. Mr. Vikram Accounts Manager has provided information to us. Rating takes into consideration sound operational risk terms are
reported to be usually correct. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of sound operational base, the concern can be considered 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
|
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. Vikram |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9879104190 |
|
Date : |
06.06.2015 |
LOCATIONS
|
Registered Office : |
31, G.I.D.C. Estate, Highway, Mehsana – 384002, Gujarat, India |
|
Tel. No.: |
91-2762-251913 |
|
Mobile No.: |
91-9879104190 (Mr. Vikram) 91-9879104107 |
|
Fax No.: |
Not Available |
|
E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. Vishnubhai Kishorbhai Patel |
|
Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. Vikram |
|
Designation : |
Accounts Manager |
BUSINESS DETAILS
|
Line of Business : |
Trader of Edible Oil. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Cheque |
|
|
|
|
Purchasing : |
Cash, L/C and Cheque |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
3 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
M. V. Patel and Company Chartered Accountants |
|
Address : |
Ahmedabad, Gujarat, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Sister Concern: |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
|
Capital Investment : |
|
|
Owned : |
Rs.11.244 Million |
|
Borrowed : |
-- |
|
Total : |
Rs.11.244 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12.665 |
11.244 |
10.595 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12.665 |
11.244 |
10.595 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
20.270 |
0.014 |
0.014 |
|
|
2] Unsecured Loans |
14.545 |
143.256 |
2.899 |
|
|
TOTAL BORROWING |
34.815 |
143.270 |
2.913 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.480 |
154.514 |
13.508 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.855 |
7.856 |
4.104 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
469.293
|
0.094 |
0.000 |
|
|
Cash & Bank Balances |
24.236
|
3.216 |
2.418 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
99.107
|
246.578 |
100.495 |
|
Total
Current Assets |
592.636
|
249.888 |
102.913 |
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
552.142
|
101.306 |
87.632 |
|
|
Other Current Liabilities |
0.869
|
1.924 |
5.877 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
553.011
|
103.230 |
93.509 |
|
|
Net Current Assets |
39.625
|
146.658 |
9.404 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.480 |
154.514 |
13.508 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7294.202 |
5189.793 |
1263.618 |
|
|
|
Other Income |
0.291 |
22.627 |
0.809 |
|
|
|
TOTAL |
7294.493 |
5212.420 |
1264.427 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
7289.052 |
5184.555 |
1261.864 |
|
|
|
Fright Expenses |
2.826 |
5.069 |
0.908 |
|
|
|
Brokerage and Dalali |
0.274 |
0.520 |
0.304 |
|
|
|
Godown Rent Expenses |
0.000 |
0.000 |
0.104 |
|
|
|
Audit Fees |
0.028 |
0.028 |
0.011 |
|
|
|
Salary and Bonus Expenses |
0.104 |
0.116 |
0.132 |
|
|
|
Stationery and Printing Expenses |
0.000 |
0.003 |
0.001 |
|
|
|
Telephone Expenses |
0.006 |
0.005 |
0.004 |
|
|
|
Postage Expenses |
0.003 |
0.002 |
0.005 |
|
|
|
Insurance Expenses |
0.030 |
0.035 |
0.000 |
|
|
|
Consultancy Expenses |
0.028 |
0.011 |
0.000 |
|
|
|
Penalty Expenses |
0.000 |
0.008 |
0.000 |
|
|
|
Demat Charges |
0.000 |
0.001 |
0.000 |
|
|
|
Round off Account |
0.000 |
0.000 |
0.000 |
|
|
|
Stamping charges |
0.188 |
0.900 |
0.000 |
|
|
|
Interest Expenses |
0.967 |
21.015 |
0.834 |
|
|
|
Bank Charges |
0.050 |
0.074 |
0.023 |
|
|
|
Colour Shortage / Rate difference |
(0.373) |
(0.755) |
(0.210) |
|
|
|
TOTAL |
7293.183 |
5211.587 |
1263.980 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.310 |
0.833 |
0.447 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
1.310 |
0.833 |
0.447 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.02
|
0.02 |
0.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.22
|
0.33 |
0.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.07 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /Networth) |
|
2.75
|
12.74 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
2.42 |
1.10 |
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
10.595 |
11.244 |
12.665 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net worth |
10.595 |
11.244 |
12.665 |
|
|
|
|
|
|
Secured Loans |
0.014 |
0.014 |
20.270 |
|
Unsecured Loans |
2.899 |
143.256 |
14.545 |
|
Total borrowings |
2.913 |
143.270 |
34.815 |
|
Debt/Equity ratio |
0.275 |
12.742 |
2.749 |
%2011-Jun-2015_files/image011.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1263.618 |
5189.793 |
7294.202 |
|
|
|
310.709 |
40.549 |
%2011-Jun-2015_files/image013.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1263.618 |
5189.793 |
7294.202 |
|
Profit |
0.447 |
0.833 |
1.310 |
|
|
0.04% |
0.02% |
0.02% |
%2011-Jun-2015_files/image015.gif)
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 |
No |
|
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) |
No |
|
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 |
No |
|
22 |
Conduct of the banking account |
No |
|
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 |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
No |
|
33 |
Market information |
No |
|
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 records 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.63.88 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.72.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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 unfavorable
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.