MIRA INFORM REPORT

 

 

Report No. :

328271

Report Date :

22.06.2015

 

IDENTIFICATION DETAILS

 

Name :

CELLO HOUSEHOLD APPLIANCES PRIVATE LIMITED

 

 

Registered Office :

Plot No. 685/686/687, Somnath Road, Dabhel, Daman – 396210, Daman and Diu (U.T.)

Tel. No.:

91-22-26853444

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

08.07.1992

 

 

Com. Reg. No.:

56-001251

 

 

Capital Investment / Paid-up Capital :

Rs. 8.000 Million

 

 

CIN No.:

[Company Identification No.]

U25207DD1992PTC001251

 

 

IEC No.:

0393019837

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCC2210N 

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Trader and Importer of Plastics Materials and Household Appliances.

 

 

No. of Employees :

150 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (52)

 

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 is a well-established company having satisfactory track record.

 

It was incorporated in 1992. Subject is a Manufacturer, Trader and Importer of Plastics Materials and Household Appliances.

 

Rating takes into consideration healthy financial risk profile marked by strong liquidity position supported by healthy networth base.

 

Rating also takes into consideration, acceptable reported cash balance and debt free balance sheet of the company.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

Subject 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.

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Navneet

Designation :

Accounts Executive

Contact No.:

91-260-2241933

Date :

20.06.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Plot No. 685/686/687, Somnath Road, Dabhel, Daman – 396210, Daman and Diu (U.T.), India

Tel. No.:

91-260-2241933/ 2241934

Fax No.:

91-260-2242719

E-Mail :

kvr.reddy@celloworld.com

Website :

www.celloworld.com

Area :

10000 Sq. ft.

Location :

Owned

 

 

Administrative Office :

Cello House, Corporate Avenue 1st Floor, ‘B’ Wing, Sonawala Road, Goregaon (East), Mumbai – 400063, Maharashtra. India

Tel. No.:

91-22-26853444/ 26851027/ 26853080

Fax No.:

91-22-26853333

 

 

DIRECTORS

 

AS ON 25.09.2014

 

Name :

Venkata Ramana Reddy Karri

Designation :

Director

Address :

O-003, Saraswati, Suchidham, Film City Road, Malad (East), Mumbai – 400097, Maharashtra, India

Date of Birth/Age :

14.12.1963

Date of Appointment :

21.12.2002

DIN No.:

01603418

 

 

Name :

Mr. Mahendra Pukhraj Jain

Designation :

Director

Address :

101, Moksh Darshan Cooperative Housing Society, Behind Kumar Shala, Vapi, Valsad – 396191, Gujarat, India

Date of Birth/Age :

26.06.1966

Date of Appointment :

21.12.2002

DIN No.:

01665539

 

 

Name :

Mr. Sanjay Mohan Rajavat

Designation :

Director

Address :

103, Awas Apartment, Irani Road, Dahanu Road, Dahanu – 401602, Maharashtra, India

Date of Birth/Age :

26.02.1969

Date of Appointment :

21.12.2002

DIN No.:

01881696

 

 

KEY EXECUTIVES

 

Name :

Mr. Navneet

Designation :

Accounts Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 25.09.2014

 

Names of Shareholders

 

No. of Shares

 

Ghisulal D Rathod

 

15790

Pradeep G Rathod

 

15950

Pankaj G Rathod

 

15690

Sangeeta P Rathod

 

3800

Babita P Rathod

 

3400

Gaurav P Rathod

 

14400

Karishma P Rathod

 

1200

Pannalal J Sharma

 

4800

Jayantilal W Jain

 

2700

Yogeshkumar J Jain

 

500

Ghisulal D Rathod (HUF)

 

10

Pankaj G Rathod (HUF)

 

10

Pampuben G Rathod

 

1750

 

 

 

Total

 

 

80000

 

 

AS ON 25.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Other top fifty shareholders

100.00

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Trader and Importer of Plastics Materials and Household Appliances.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Germany

·         Japan 

 

 

Terms :

 

Selling :

Cash and Credit (30 Days, 60 Days and 90 Days)

 

 

Purchasing :

Cash and Credit (30 Days, 60 Days and 90 Days)

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

End users and OEMs

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

150 (Approximately)

 

 

Bankers :

Bank Name:

IDBI Bank Limited

Branch:

Marigold House, Plot No.A-34, Cross Road No.2, Marol, MIDC, Andheri (East), Mumbai - 400093, 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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Cash Credit = Rs. 50.000 Million

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Indusind Bank Limited

425; Lamington Road, Bombay - 400004, Maharashtra, India

 

 

Facilities :

--

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Jeswani and Rathore

Chartered Accountants

Address :

408/C, Niranjan, 99, Marine Drive, Mumbai – 400002, Maharashtra, India

Tel. No.:

91-22-22834451/ 22816968

Fax No.:

91-22-22819435

E-Mail :

jeswani_rathore@vsnl.net

Income-tax PAN of auditor or auditor's firm :

AAEFJ3978L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises over which these persons are able to exercise significant influence during the year :

·         Cello Writing Instruments and Containers Private Limited

·         Cello International Private Limited

·         Cello Pens and Stationery Private Limited

·         Cello Pens Private Limited

·         Cello Capital Private Limited

·         Cello Properties Private Limited

·         Cello Infrastructure Limited 

·         Cello Plastic Product Private Limited

·         Cello Tips and Pens Private Limited

·         Cello Stationery Products Private Limited

·         Pentek Pen and Stationery Private Limited

·         WIM Plast Limited

·         Cello Plastotech

·         Cello Oral Hygiene Products

·         Cello Home Products

·         Cello Houseware

·         Cello Plast

·         Cello Plastic Industrial Works 

·         Cello Sales and Marketing

·         Cello Paper Products

·         Cello World

·         Cello Marketing

·         Cello Writing Aids Private Limited

·         Cello Heights 

·         Cello Bakre Realty

·         Cello Arth Green

·         Cello Arth Crown

·         Cello Arth Plaza

·         Cello Arth Links

·         Arth Penninsula

·         Cello Sonal Construction

·         Cello Industries

·         Pennisula Properties

·         Cello Finance Corporation

·         Millennium Houseware

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

80,000

Equity Shares

Rs. 100/- each

Rs. 8.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

80,000

Equity Shares

Rs. 100/- each

Rs. 8.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

8.000

8.000

8.000

(b) Reserves & Surplus

408.457

382.249

364.884

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

416.457

390.249

372.884

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

1.867

2.753

3.585

(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)

1.867

2.753

3.585

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

54.886

43.898

145.580

(c) Other current liabilities

2.638

2.117

3.327

(d) Short-term provisions

11.512

9.875

5.937

Total Current Liabilities (4)

69.036

55.890

154.844

 

 

 

 

TOTAL

487.360

448.892

531.313

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

184.712

144.376

128.932

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

20.394

101.775

212.347

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

205.106

246.151

341.279

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

0.678

2.069

31.045

(d) Cash and cash equivalents

202.937

51.454

26.271

(e) Short-term loans and advances

78.627

149.159

132.708

(f) Other current assets

0.012

0.059

0.010

Total Current Assets

282.254

202.741

190.034

 

 

 

 

TOTAL

487.360

448.892

531.313

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

932.674

884.661

1026.345

 

 

Other Income

37.617

29.129

NA

 

 

TOTAL                                    

970.291

913.790

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

938.123

889.755

NA

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

(Including Depreciation Expenses)

24.035

14.490

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

 

3.602

3.755

 

 

 

 

 

 

PROFIT BEFORE TAX

32.168

20.433

10.735

 

 

 

 

 

Less

TAX                                                                 

5.960

3.068

0.774

 

 

 

 

 

 

PROFIT AFTER TAX

26.208

17.365

9.961

 

 

 

 

 

 

Earnings Per Share (Rs.)

327.60

217.07

124.51

 

Expected Sales (2014-2015): Rs. 1100.000 Million

 

The above information has been parted by Mr. Navneet (Accounts Executive)

 

 

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

76.560

(95.311)

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.81

1.96

0.97

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.89

5.89

3.37

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.08

0.05

0.03

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

4.09

3.63

1.23

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

 

 

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)

Share Capital

8.000

8.000

8.000

Reserves & Surplus

364.884

382.249

408.457

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

372.884

390.249

416.457

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

 

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

1026.345

884.661

932.674

 

 

(13.805)

5.427

 

 

G

 

 

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

1026.345

884.661

932.674

Profit

9.961

17.365

26.208

 

0.97%

1.96%

2.81%

 

 

 

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

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 three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three 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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10150379

21/08/2008

50,000,000.00

IDBI BANK LIMITED

MARIGOLD HOUSE, PLOT NO.A-34, CROSS ROAD NO.2, MAROL MIDC, ANDHERI (E), MUMBAI, MAHARASHTRA - 400093, INDIA

A48092480

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the company has been shifted from Plot No. 720/5, Somnath Road, Dhabel, Daman - 396210, Daman and Diu (U.T.), India to the present address w.e.f.06.03.2012

 

 

FINANCIAL OPERATIONS

 

The Company recorded a turnover of Rs. 932.675 Million and a Net Profit before tax of Rs. 32.168 Million during the year as against a turnover of Rs. 884.661 Million and Net Profit before tax of Rs. 20.433 Million in the previous year. 


FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Vehicle

·         Office Equipment

·         Furniture and Fixture

·         Electric Installation

·         Air Conditioner

·         Tools and Equipments

·         Fire Extinguisher

 

 

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 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. 63.82

UK Pound

1

Rs. 101.26

Euro

1

Rs. 72.36

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

5

--RESERVES

1~10

7

--CREDIT LINES

1~10

6

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

52

 

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.