MIRA INFORM REPORT
|
Report No. : |
327357 |
|
Report Date : |
17.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CASABLANCA INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
704/2, DDA Building No.2, District Center, Janakpuri, Delhi - 110058 |
|
Tel. No.: |
91-11-46012990 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.08.2011 |
|
|
|
|
Com. Reg. No.: |
55-223576 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.54.481 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28113DL2011PTC223576 |
|
|
|
|
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
: |
Manufacturer, Importer and Exporter of all Sorts of Packaging Items Made Tin, Aluminum any Other Metal, Alloy, Glass, Fiber Glass, Plastics, Paper and Paper Board of any Kind and any Other Material. |
|
|
|
|
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 990000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behavior : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new private limited company incorporated in the
year 2011, having moderate track. Company has incurred losses in financial year 2014 and 2013. There seems improvement in reserves in FY 14 as compared to previous
year. Overall financial position of the company is moderate. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings with some 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
|
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 DENIED BY
|
Name : |
Mr. Umesh |
|
Designation : |
Excise Manager |
|
Contact No.: |
91-149-3520600 |
|
Date : |
16.06.2015 |
LOCATIONS
|
Registered Office : |
704/2, DDA Building No.2, District Center, Janakpuri, Delhi - 110058 |
|
Tel. No.: |
91-11-46012990 |
|
Fax No.: |
91-11-46012992 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 18.10.2014
|
Name : |
Mr. Rohit Wassan |
|
Designation : |
Managing Director |
|
Address : |
84, Akashneem Marg DLF Phase – II Gurgaon- 122001, Haryana, India |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
00074680 |
|
|
|
|
Name : |
Mr. Michael John Hoffman |
|
Designation : |
Director |
|
Address : |
3932 Montereale Drive Canfield - 44406 |
|
Date of Appointment : |
02.04.2014 |
|
DIN No.: |
06495592 |
|
|
|
|
Name : |
Mr. Delfin Gibert Ruigomez |
|
Designation : |
Director |
|
Address : |
Flat 15 3 Hans Crescent London SW1X0LN |
|
Date of Appointment : |
02.04.2014 |
|
DIN No.: |
06857519 |
|
|
|
|
Name : |
Mr. Herman Jacob Vismans |
|
Designation : |
Director |
|
Address : |
C J Visman – Vollebregt Ericastr 9 Oisterwyk – 5062hn |
|
Date of Appointment : |
02.04.2014 |
|
DIN No.: |
06790385 |
KEY EXECUTIVES
|
Name : |
Mr. Shashi Bala |
|
Designation : |
Secretary |
|
Address : |
Flat No. 963, Pkt – 1, Radhika Apartment, Sector – 14, Dwarka, Delhi –
78, India |
|
DIN No.: |
AOUPB5688R |
|
Date of Appointment : |
25.08.2014 |
|
|
|
|
Name : |
Mr. Umesh |
|
Designation : |
Excise Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.10.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Indicans Holdings B.V., Netherland |
326889 |
60.00 |
|
Exal India B.V., Netherland |
108963 |
20.00 |
|
Stella Industries Limited, India |
108963 |
20.00 |
|
Total |
544815 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 18.10.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companies(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
80.00 |
|
Bodies corporate |
20.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of all Sorts of Packaging Items Made Tin, Aluminum any Other Metal, Alloy, Glass, Fiber Glass, Plastics, Paper and Paper Board of any Kind and any Other Material. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Citibank N.A, DLF Square, M Block, Jacaranda Marg, DLF City Phase II, Gurgaon - 122002, Haryana, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Bhuvnesh Gaur Chartered Accountant |
|
Address : |
2952-53/2, Sangtrashan, D.B. Gupta Road, Paharganj, New Delhi-110055, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFB8409K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 18.10.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
544815 |
Equity Shares |
Rs.100/- each |
Rs.54.481 Million |
|
|
|
|
|
ABRIDGED
BALANCE SHEET
FINANCIAL DATA
[all figures are
in Rupees Million]
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
54.481 |
20.000 |
20.000 |
|
(b) Reserves & Surplus |
294.102 |
(17.013) |
0.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
107.929 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
348.583 |
110.916 |
20.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
450.325 |
673.425 |
271.600 |
|
(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) |
450.325 |
673.425 |
271.600 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
86.669 |
48.219 |
0.000 |
|
(c) Other
current liabilities |
11.699 |
2.767 |
1.223 |
|
(d) Short-term
provisions |
0.000 |
22.800 |
0.000 |
|
Total Current
Liabilities (4) |
98.368 |
73.786 |
1.223 |
|
|
|
|
|
|
TOTAL |
897.276 |
858.127 |
292.823 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
726.014 |
776.505 |
94.248 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
47.596 |
|
(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) |
22.337 |
7.085 |
0.000 |
|
(d) Long-term Loan and Advances |
3.177 |
0.645 |
143.586 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
751.528 |
784.235 |
285.430 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
29.465 |
38.874 |
0.000 |
|
(c) Trade
receivables |
88.373 |
16.047 |
0.000 |
|
(d) Cash
and cash equivalents |
5.416 |
13.398 |
5.528 |
|
(e) Short-term
loans and advances |
0.137 |
0.692 |
0.765 |
|
(f) Other
current assets |
22.357 |
4.881 |
1.100 |
|
Total
Current Assets |
145.748 |
73.892 |
7.393 |
|
|
|
|
|
|
TOTAL |
897.276 |
858.127 |
292.823 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
|
446.648 |
27.265 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
|
429.112 |
31.435 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
17.536 |
-4.170 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
88.791 |
19.928 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(71.255) |
(24.098) |
|
|
|
|
|
|
|
Less |
TAX |
|
(15.252) |
(7.085) |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(56.003) |
(17.013) |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(102.79) |
(31.23) |
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 |
|
PAT / Total Income |
(%) |
(12.54) |
(62.40) |
--- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.93 |
(15.29) |
--- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.14) |
(2.83) |
--- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.20) |
(0.22) |
--- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.29 |
6.07 |
13.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48 |
1.00 |
6.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
20.000 |
20.000 |
54.481 |
|
Reserves & Surplus |
0.000 |
(17.013) |
294.102 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
107.929 |
0.000 |
|
Net worth |
20.000 |
110.916 |
348.583 |
|
|
|
|
|
|
long-term borrowings |
271.600 |
673.425 |
450.325 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
271.600 |
673.425 |
450.325 |
|
Debt/Equity ratio |
13.580 |
6.071 |
1.292 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
27.265 |
446.648 |
|
|
---- |
1,538.173 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
27.265 |
446.648 |
|
Profit |
(17.013) |
(56.003) |
|
|
(62.40)% |
(12.54)% |
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 |
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 |
No |
|
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 |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
Registered office of the company has been
shifted from 236, Okhla Industrial Estate, Phase – III, New Delhi - 110020,
India to the present address w.e.f.
03.02.2014.
CORPORATE INFORMATION
Casablanca Industries Private Limited was incorporated on 10th August 2011. To carry on the business in India and elsewhere as manufacturer, importer and exporter of all sorts of packaging items made Tin, Aluminum any other metal, alloy, glass, fiber glass, plastics, paper and paper board of any kind and any other material.
PERFORMANCE
During this year the Company has not generated revenue from operations and incurred a loss of Rs.56.003 Million during the financial year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and
advances from related parties |
0.850 |
265.500 |
|
Total |
0.850 |
265.500 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
Air Conditioner
Bio Metric Device
Building
Computers
EPBAX System
Fire Alarm
Furniture and Fixtures
Generator
Mobile
Office Equipments RO System
Printer
Plant and Machinery
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.100.31 |
|
Euro |
1 |
Rs.72.16 |
INFORMATION DETAILS
|
Information Gathered
by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
DDD |
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 |
|
--PROFITABILIRY |
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 |
NO |
|
--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
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.