MIRA INFORM REPORT
|
Report No. : |
309941 |
|
Report Date : |
04.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
M & W OVERSEAS LLP |
|
|
|
|
Registered
Office : |
PRM-PLAZA, 201, 2nd Floor, Plot No. 947, 10th “D”
Road, Sardarpura, Jodhpur – 342001, Rajasthan |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.05.2011 |
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Capital
Investment / Paid-up Capital : |
Rs.0.200 Million |
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|
|
LLPIN : |
AAA-4844 |
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|
|
IEC NO.: |
1313011851 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AATFM6821A |
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|
|
Legal Form : |
Limited Liability Partnership |
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Line of Business
: |
Wholesale Trading of Iron and Steel |
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No. of Employees
: |
Approximately 10 (In Office=6 + In Branch=4) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established Limited Liability Partnership concern having
satisfactory track record. The rating takes into consideration the decent operational growth and
sound financial risk profile of the concern. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The Limited Liability Partnership concern can considered normal 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Aditya Kushal Lodha |
|
Designation : |
Partner |
|
Contact No.: |
91-291-2621313 |
|
Date : |
28.02.2015 |
LOCATIONS
|
Registered Office : |
PRM-PLAZA, 201, 2nd Floor, Plot No. 947, 10th “D”
Road, Sardarpura, Jodhpur – 342001, Rajasthan, India |
|
Tel. No.: |
91-291-2621313 / 5108985 |
|
Mobile No.: |
91-9829021474 (Mr. Aditya Kushal Lodha) |
|
Fax No.: |
91-291-5108985 |
|
E-Mail : |
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|
Area : |
2500 Sq. Ft. |
|
Location : |
Rented |
|
|
|
|
Branch Office: |
Flat No. 704/A Senate Building No. 12, Lokhandwala, Kandivali (East), Mumbai
– 400061, Maharashtra, India |
|
Tel. No.: |
91-22-29650153 |
|
Fax No.: |
91-22-29650153 |
|
Area : |
1000 Sq. Ft. |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Aditya Kushal Lodha |
|
Designation : |
Designated Partner |
|
Address : |
Plot No. 947, 10th “D” Road, Sardarpura, Jodhpur – 342001,
Rajasthan, India |
|
Date of Birth/Age : |
26.03.1969 |
|
PAN No.: |
ABAPL1489P |
|
Qualification: |
Graduate |
|
Experience |
20 Years |
|
Passport No. : |
G6312133 |
|
DPIN No. : |
5016519 |
|
|
|
|
Name : |
Ms. Priti Lodha |
|
Designation : |
Designated Partner |
|
Address : |
Plot No. 947, 10th “D” Road, Sardarpura, Jodhpur – 342001,
Rajasthan, India |
|
Date of Birth/Age : |
02.10.1969 |
|
PAN No. : |
ABAPL1491M |
|
Qualification: |
Post Graduate |
|
Experience |
15 Years |
|
DPIN No. : |
5016520 |
BUSINESS DETAILS
|
Line of Business : |
Wholesale Trading of Iron and Steel |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Safety Shoes |
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Countries : |
UAE |
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Imports : |
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Products : |
Rock Phosphate |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30/60/90/180 Days) |
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Purchasing : |
L/C, Cash and Credit (30/60/90/180 Days) |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
Approximately 10 (In Office=6 + In Branch=4) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Balia Choudhary and Company Chartered Accountants |
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Address : |
Balia House, 737/B-1, Behind Oswal Community Centre, “C” Road,
Sardarpura, Jodhpur-342003, Rajasthan, India |
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Tel. No.: |
91-291-2628714/2626332 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
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CAPITAL STRUCTURE
CAPITAL ACCOUNT
FOR THE YEAR ENDED 31ST MARCH, 2014
(Rs. in million)
|
Particular |
Aditya Lodha |
Preeti Lodha |
Particular |
Aditya Lodha |
Preeti Lodha |
|
To Balance C/d |
0.100 |
0.100 |
By Balance B/d |
0.100 |
0.100 |
|
Total |
0.100 |
0.100 |
Total |
0.100 |
0.100 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
Partner Capital Account |
|
|
|
|
|
1] Partner Capital Account |
0.200 |
0.200 |
0.100 |
|
|
2] Partner Current Account |
1.922 |
0.311 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.122 |
0.511 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.513 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
6.285 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
11.798 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
13.920 |
0.511 |
0.100 |
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|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
62.314
|
0.000
|
0.000
|
|
|
Sundry Debtors |
85.574
|
0.000
|
0.000
|
|
|
Cash & Bank Balances |
0.346
|
0.495
|
0.080
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
81.193
|
0.000
|
0.000
|
|
Total
Current Assets |
229.427
|
0.495
|
0.080
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Current Liabilities and Provision |
215.519
|
0.000
|
0.000
|
|
Total
Current Liabilities |
215.519
|
0.000
|
0.000
|
|
|
Net Current Assets |
13.908
|
0.459
|
0.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.012 |
0.016 |
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
13.920 |
0.511 |
0.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Income |
2871.126 |
46.800 |
0.000 |
|
|
|
Other Income |
0.026 |
0.000 |
0.000 |
|
|
|
Total |
2871.152 |
46.800 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
2867.748 |
46.450 |
0.000 |
|
|
|
Transport Expense |
0.000 |
0.018 |
0.000 |
|
|
|
Audit Fees |
0.013 |
0.000 |
0.000 |
|
|
|
Audit fees (Transfer
Pricing |
0.012 |
0.000 |
0.000 |
|
|
|
Consultancy Expenses |
0.000 |
0.004 |
0.000 |
|
|
|
Bank Charges |
0.011 |
0.001 |
0.000 |
|
|
|
Computer Expenses |
0.004 |
0.000 |
0.000 |
|
|
|
Insurance Expenses |
0.006 |
0.000 |
0.000 |
|
|
|
Loan Processing Charges |
0.100 |
0.000 |
0.000 |
|
|
|
Office Expenses |
0.016 |
0.001 |
0.000 |
|
|
|
Postage Expenses |
0.004 |
0.000 |
0.000 |
|
|
|
Preliminary Expenses |
0.004 |
0.004 |
0.000 |
|
|
|
Printing and Stationery |
0.002 |
0.002 |
0.000 |
|
|
|
Salaries |
0.923 |
0.009 |
0.000 |
|
|
|
Sales Promotion Expenses |
0.052 |
0.000 |
0.000 |
|
|
|
Staff Welfare Expenses |
0.026 |
0.000 |
0.000 |
|
|
|
Telephone Expenses |
0.027 |
0.000 |
0.000 |
|
|
|
Tour and Travelling
Expenses |
0.065 |
0.000 |
0.000 |
|
|
|
Vehicle Petrol |
0.029 |
0.000 |
0.000 |
|
|
|
Interest to Bank |
0.387 |
0.000 |
0.000 |
|
|
|
Remuneration to Partners |
0.400 |
0.000 |
0.000 |
|
|
|
Interest to Partner |
0.000 |
0.012 |
0.000 |
|
|
|
Partner Salary |
0.000 |
0.269 |
0.000 |
|
|
Total
Expenses |
2869.829 |
46.770 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Net
Profit |
1.323 |
0.030 |
0.000 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.05 |
0.06 |
0.000 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.31 |
5.87 |
0.000 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.62 |
0.06 |
0.000 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.56 |
0.00 |
0.000 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
0.000 |
0.000 |
0
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Partner capital |
0.000 |
0.511 |
2.122 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
0.000 |
0.511 |
2.122 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
5.513 |
|
Unsecured Loans |
0.000 |
0.000 |
6.285 |
|
Total
borrowings |
0.000 |
0.000 |
11.798 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
5.560 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
0.000 |
46.800 |
2871.126 |
|
|
|
|
6034.885 |
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 |
0.000 |
46.800 |
2871.126 |
|
Profit |
0.000 |
0.030 |
1.323 |
|
|
|
0.06% |
0.05% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FUTURE PROSPECTUS:
- In
future would like to export to Middle East and Africa
- Interest
in Establishing cement manufacturing unit in Central Africa.
TRADE REFERENCES
|
Company Name |
Contact
Person |
Contact
Number |
|
KPR Fertilizers Limited |
Mr. Kishan Sharma |
91-8142336120 |
|
Great Padfic General Trading Company LLP |
Mr. Aditya Prakash |
91-9419084428 |
|
A S Enterprises |
Mr. Ajeet Mehta |
91-9829021474 |
|
Devendra Construction Company |
- |
91-9414128780 |
UNSECURED LOAN
|
Unsecured Loan |
|
31.03.2014 (Rs.
in Millions) |
|
AKCL Export |
|
0.100 |
|
Devashish Enterprises |
|
1.650 |
|
Naushad Ali |
|
1.935 |
|
Rahul Mehta |
|
2.600 |
|
Total
|
|
6.285 |
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.61.84 |
|
|
1 |
Rs.95.14 |
|
Euro |
1 |
Rs.69.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.