MIRA INFORM REPORT
|
Report No. : |
329520 |
|
Report Date : |
30.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
NUMEN INDIA SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
House No. 2/2, Shiv Nagar, South Sundervas, Opp. SBI Bank Udaipur -
313001, Rajasthan |
|
Tel. No.: |
91-20-64001118 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.11.2012 |
|
|
|
|
Com. Reg. No.: |
17-040726 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.42.350 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15500RJ2012PTC040726 |
|
|
|
|
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, Exporter and Supplier of Frozen Sweet Corn, Frozen Corn
on Cob, Canned Broccoli etc. |
|
|
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
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|
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Comments : |
Even though, the company was incorporated on 20th November 2011,
it had started its activities in October 2013. It is having moderate track
record. Mr. Rajhans (Director) denied to provide any information about the
subject to us. Company has incurred losses in its first year of operations. Further, there seem unfavorable gap between trade payables and trade
receivables which may affect company’s liquidity profile. However, trade relations are fair. Business is active. Payments 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. Rajhans |
|
Designation : |
Director |
|
Contact No.: |
91-20-64000118 |
|
Date : |
30.06.2015 |
LOCATIONS
|
Registered Office : |
House No. 2/2, Shiv Nagar, South Sundervas, Opp. SBI Bank Udaipur -
313001, Rajasthan, India |
|
Tel. No.: |
91-20-64000118 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No. J-03, Khed City (MIDC), Kansarser, Near Rajguru Nagar, Pune,
Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Mohammad Zaki Khan |
|
Designation : |
Director |
|
Address : |
15/1, Juna Risala, Indore – 452001, Madhya Pradesh, India |
|
Date of Birth/Age : |
09.01.1962 |
|
Date of Appointment : |
20.11.2012 |
|
DIN No.: |
05327869 |
|
|
|
|
Name : |
Mr. Sudeep Kumar Wig |
|
Designation : |
Director |
|
Address : |
23, Lia Cross, 16th C Main, 4th Block,
Koramangala, Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
11.06.1956 |
|
Date of Appointment : |
20.11.2012 |
|
DIN No.: |
06388710 |
|
|
|
|
Name : |
Mr. Raj Hans Saraswat |
|
Designation : |
Director |
|
Address : |
Near Head PO Office, Kamore, Udaipur- 313604, Rajasthan, India |
|
Date of Birth/Age : |
01.07.1979 |
|
Date of Appointment : |
20.11.2012 |
|
DIN No.: |
06422314 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Raj Hans Saraswat |
365000 |
8.62 |
|
Sudeep Kumar Wig |
3400000 |
80.28 |
|
Mohammad Zaki Khan |
270000 |
6.38 |
|
Himanshu Wig |
200000 |
4.72 |
|
Total |
4235000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Frozen Sweet Corn, Frozen Corn
on Cob, Canned Broccoli etc. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
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Agencies Held : |
Not Divulged |
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|
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Exports : |
Not Divulged |
|
Imports : |
Not Divulged |
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|
|
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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|
Name : |
S B Ohara and Company Chartered Accountants |
|
Address : |
F-11, Ganatra Complex, Bibwewadi Kondhwa Road, Marketyard, Pune –
411037, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor’s firm : |
AAJPO0986E |
|
|
|
|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4250000 |
Equity Shares |
Rs.10/- each |
Rs.42.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4235000 |
Equity Shares |
Rs.10/- each |
Rs.42.350
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
42.350 |
0.167 |
|
(b) Reserves & Surplus |
|
(2.984) |
(0.795) |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
4.800 |
18.133 |
|
Total
Shareholders’ Funds (1) + (2) |
|
44.166 |
17.505 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
20.328 |
1.018 |
|
(b) Deferred tax liabilities
(Net) |
|
0.774 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
21.102 |
1.018 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
7.174 |
0.000 |
|
(b) Trade payables |
|
7.439 |
0.000 |
|
(c) Other current liabilities |
|
0.269 |
0.000 |
|
(d) Short-term provisions |
|
1.243 |
0.257 |
|
Total
Current Liabilities (4) |
|
16.125 |
0.257 |
|
|
|
|
|
|
TOTAL |
|
81.393 |
18.780 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
53.486 |
13.633 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.928 |
0.100 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
54.414 |
13.733 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
12.731 |
0.000 |
|
(c) Trade receivables |
|
5.506 |
0.000 |
|
(d) Cash and cash equivalents |
|
1.197 |
3.489 |
|
(e) Short-term loans and
advances |
|
4.850 |
0.000 |
|
(f) Other current assets |
|
2.695 |
1.558 |
|
Total
Current Assets |
|
26.979 |
5.047 |
|
|
|
|
|
|
TOTAL |
|
81.393 |
18.780 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
TOTAL INCOME |
|
28.724 |
0.000 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
|
30.139 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(1.415) |
(0.795) |
|
|
|
|
|
|
|
Less |
TAX |
|
0.774 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(2.189) |
(0.795) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
0.52 |
0.19 |
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 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
(7.62) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(1.74) |
(4.23) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.03) |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.62 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.67 |
19.64 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.167 |
42.350 |
|
Reserves & Surplus |
(0.795) |
(2.984) |
|
Share Application money pending allotment |
18.133 |
4.800 |
|
Net
worth |
17.505 |
44.166 |
|
|
|
|
|
long-term borrowings |
1.018 |
20.328 |
|
Short term borrowings |
0.000 |
7.174 |
|
Total
borrowings |
1.018 |
27.502 |
|
Debt/Equity
ratio |
0.058 |
0.623 |
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) |
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 |
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 |
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 |
PERFORMANCE OF THE
COMPANY
The company has been incorporated on 20th November 2012. The
Company deals in processed food mainly frozen food, packed food, preserved food
etc. After examining the food processing industry in India, Directors selected
Pune, Maharashtra as the best strategic location to set up business. In the
month of March 2013, the Company has acquired land for setting up food
processing plant at Khed, near Pune. The erection work of the plants has
already commenced and the Directors are hopeful that the plant will be
operationalized by the end of October, 2013.
During the period under report, as mentioned above, the company was in
the process of setting up of operations and hence could not generated any
revenues and it incurred a loss of Rs. 0.795 Million. The loss is mainly on
account of the expenses incurred for business established and administrative
overheads.
During the current year, Company started its Commercials operations and
it has taken a plant on losses basis for processing the commercial orders procured.
The company has seen a good start and it received the orders for frozen foods
mainly Green peas, mushrooms, corn etc. The Directors are exploring various
business opportunities and hopeful of posting improve results in the current
year.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10495443 |
19/06/2014 * |
44,800,000.00 |
State Bank of India |
Agri Commercial Branch, Erandavana, Pune, Maharashtra - 411004, INDIA |
C09320664 |
FIXED ASSETS
- Factory Land
- Factory
Building
- Plant and
Machinery
- Office
Equipment
- Furniture and
Fixture
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 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.63.91 |
|
|
1 |
Rs.100.40 |
|
Euro |
1 |
Rs.70.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
3 |
|
--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 |
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 |
|
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
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.