MIRA INFORM REPORT

 

 

 

 

Report No. :

326889.2

Report Date :

20.06.2015

           

IDENTIFICATION DETAILS

 

Name :

MUKTA ENGINEERS

 

 

Registered Office :

A-604, Shiv Darshan Complex, Near Shree Complex, Adharwadi, Chanakya Nagar, Kalyan (West), Thane – 421301, Maharashtra

Mobile No.:

91-9930320048 / 9223601119 (Mr. Nileshkumar Anantlal Sinha)

 

 

Country :

India

 

 

Financial As On :

31.03.2014

 

 

Year of Establishment :

June, 2013

 

 

Capital Investment / Paid-up Capital :

Rs.2.996 Million

 

 

IEC No.:

Not Available

 

 

TIN No.:

27910989575

 

 

PAN No.:

[Permanent Account No.]

BHVPS8795P

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Manufacturers and Suppliers of Wind Ventilators, Roof Ventilators and Extractors.

 

 

No. of Employees :

40 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a relatively new proprietary concern having moderate track record.

 

Mr. Nilesh Sinha (Proprietor) has provided us with all information. It has achieved Sales Turnover of Rs.32.688 Million and Net Profit of Rs.1.060 Million from the first year of its operations i.e. 2013-2014.

 

However, trade relation is improving. Business is active. Payment terms are reported to be slow but correct.

 

The concern can be considered for business dealings with some caution. 

 

NOTE :

 

Mr. Nilesh Sinha (Proprietor) has earlier claimed that the subject was establishment in the year July, 2013 but now he confirmed that the year of establishment is June, 2013.

 

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

 

 

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 (GENERAL DETAILS)

 

Name :

Mr. Nileshkumar Anantlal Sinha

Designation :

Proprietor

Contact No.:

91-9930320048

Date :

10.06.2015

 

 

LOCATIONS

 

Registered Office/ Factory 1 :

A-604, Shiv Darshan Complex, Near Shree Complex, Adharwadi, Chanakya Nagar, Kalyan (West), Thane – 421301, Maharashtra, India

Tel. No.:

Not Available

Mobile No.:

91-9930320048 / 9223601119 (Mr. Nileshkumar Anantlal Sinha)

Fax No.:

Not Available

E-Mail :

nilesh@muktaengineers.com

response@windventilators.net

contact@muktaengineers.com

Website :

http://www.windventilators.net

Area :

600 Sq. Ft

Location :

Owned

Locality :

Residential

 

 

Factory 2:

Kandivali (West), Mumbai, Maharashtra, India

 

 

SOLE PROPRIETOR

 

Name :

Mr. Nileshkumar Anantlal Sinha

Designation :

Proprietor

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers and Suppliers of Wind Ventilators, Roof Ventilators and Extractors.

 

 

Products :

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Trisha Eco Systems

Name of the Person :

Mr. Vishal [Partner]

Contact No.:

91-9867083930

Since How Long Known :

1 Years

Maximum Limit Dealt :

Rs.9.000 Million Yearly

Experience :

Payment Behaviour

Market Goodwill

Overall

Good

Good

Good

Remark:

They gave us positive response about subject company they are satisfied with their payment behaviour and market goodwill.

 

 

Customers :

Reference :

Tata Blue Scope Limited

Name of the Person :

Mr. Sukanta Ghosh [Purchase Senior Executive]

Contact No.:

91-8600022431

Since How Long Known :

1 Years

Maximum Limit Dealt :

Rs.5.000 Million to 6.000 Million yearly

Experience :

Payment Behaviour

Market Goodwill

Overall

Good

Good

Good

Remark:

They gave us positive response about subject company they are satisfied with their product quality and delivery behaviour.

 

 

No. of Employees :

40 (Approximately)

 

 

Bankers :

Banker Name

ICICI Bank

Branch Address

Kalyan (West), Thane, Maharashtra, India

Person Name (With Designation)

Not Divulged 

Contact Number

Not Divulged 

Name of Account Holder

Not Divulged 

Account Number

Not Divulged 

Account Since (Date/Year of Account Opening)

Not Divulged 

Average Balance Maintained (If Possible)

Not Divulged 

Credit Facilities Enjoyed (If any)

Not Divulged 

Account Operation

Not Divulged 

Remarks (If any)

Not Divulged 

 

Auditors :

 

Name :

Vipul R Shah

Chartered Accountant

Address :

Kalyan (West), Thane, Maharashtra, India

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Sister Concern :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Capital Investment :

 

Owned :

Rs.2.996 Million

Borrowed :

--

Total :

Rs.2.996 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2014

 

 

 

 

PROPRIETOR FUNDS

 

 

 

1] Capital Account 

 

 

2.996

2] Share Application Money

 

 

0.000

3] Profit and Loss Account

 

 

0.000

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

2.996

 

 

 

 

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

0.000

2] Unsecured Loans

 

 

0.018

TOTAL BORROWING

 

 

0.018

 

 

 

 

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

 

 

3.014

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

0.122

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

0.155

DEFERRED TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

Inventories

 

 

0.000

Sundry Debtors

 

 

15.459

Cash & Bank Balances

 

 

1.912

Other Current Assets

 

 

0.000

Loans & Advances and Deposits

 

 

0.527

Total Current Assets

 

 

17.898

 

 

 

 

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

Sundry Creditors

 

 

14.696

Other Current Liabilities / Duty and Taxes

 

 

0.355

Provisions

 

 

0.110

Total Current Liabilities

 

 

15.161

 

 

 

 

Net Current Assets

 

 

2.737

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

3.014

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

 

 

31.03.2014

 

SALES

 

 

 

 

Income

 

 

32.688

 

Other Income

 

 

0.007

 

TOTAL

 

 

32.695

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Goods Sold

 

 

29.506

 

Audit fees

 

 

0.156

 

Bank Charges

 

 

0.005

 

Advertisement

 

 

0.135

 

Commission and Brokerage

 

 

0.052

 

Computers Repairs and Maintenance

 

 

0.011

 

Refreshment Expenses

 

 

0.010

 

Insurance

 

 

0.007

 

Municipal Tax

 

 

0.006

 

Postage and Courier Charges

 

 

0.007

 

Sundry Expenses

 

 

0.006

 

Petrol Diesel Expenses

 

 

0.032

 

Printing and Stationery

 

 

0.036

 

Professional Charges

 

 

0.010

 

Rates and Taxes

 

 

0.005

 

Salaries and Bonus

 

 

1.515

 

Society Maintenance

 

 

0.007

 

Staff Welfare

 

 

0.010

 

Repairs and Maintenance Expenses

 

 

0.006

 

Telephone and Mobile Expenses

 

 

0.040

 

Transport Expenses

 

 

0.034

 

Vehicle Repairs and Maintenance Expenses

 

 

0.013

 

Other expenses

 

 

 0.000

 

TOTAL

 

 

31.609

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION

 

 

1.086

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

 

0.026

 

 

 

 

 

 

NET PROFIT/ (LOSS) 

 

 

1.060

 

 

The above information has been parted by Mr. Nileshkumar Anantlal Sinha

 

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2014

Net Profit Margin

(PAT / Sales)

(%)
 

 

3.24

 

 
 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)
 

 

3.32

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

 

5.88

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

 

0.35

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 
 

 

0.01

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

1.18

 

 

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

Yes

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

----------

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 one year

Yes

27

Reasons for variation <> 20%

----------

28

Estimation for coming financial year

No

29

Profitability for last one year

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, India Prisons Service, Interpol, etc.

 

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.63.82

UK Pound

1

Rs.101.26

Euro

1

Rs.72.36

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA / PRT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

4

--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

 

28

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.