MIRA INFORM REPORT
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Report No. : |
311733 |
|
Report Date : |
28.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
YAP MARKETING PRIVATE LIMITED |
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Registered
Office : |
142/48, Ghaswala Industrial Estate, Near 24 Karat Theater, S. V. Road,
Jogeshwari (West), Mumbai - 400102, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.01.1996 |
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Com. Reg. No.: |
11-096405 |
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Capital
Investment / Paid-up Capital : |
Rs.0.902 Million |
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CIN No.: [Company Identification
No.] |
U51900MH1996PTC096405 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMY01693G |
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PAN No.: [Permanent Account No.] |
AAACY0945M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer Exporter and Supplier of Flexible Blow Moulded
Hoses, Collapsible Corrugated Hoses, Pipes / Profiles, Moulded Fittings,
Sanitaryware |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 326000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Management of the company has failed to file its latest financial for
the year 2014 with the Government Department. As per available financial of 2013, Financial position of the company
seems to be decent. Trade relations are reported as fair. Business is active. Payments
terms are usually correct. The company 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.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
31-03-2014.
LOCATIONS
|
Registered Office : |
142/48, Ghaswala Industrial Estate, Near 24 Karat Theater, S. V. Road,
Jogeshwari (West), Mumbai - 400102, Maharashtra, India |
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Tel. No. : |
91-22 - 26771301 |
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Fax No. : |
91-22 - 26771304 |
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E-Mail : |
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Website : |
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Area : |
700 Sq. Ft. |
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Location : |
Owned |
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Factory 1 : |
376/20 Zari caufway road, Kachi gam, Daman, India |
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Area : |
1000 Sq. Ft. |
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Location : |
Owned |
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Factory 2 : |
1st Floor, ‘D’ Type Building, Opposite Cinema, Somnath
Road, Dabhel, Daman, India Also Located At:
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DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ashwin Premchand Shah |
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Designation : |
Director |
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Address : |
198, Gujrat Society, 3rd Floor Sion (West) Mumbai - 400 022,
Maharashtra, India |
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Date of Birth/Age : |
06.04.1961 |
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Qualification : |
B.Com |
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Date of Appointment : |
18.01.1996 |
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DIN No. : |
00874386 |
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Other Directorship :
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Name : |
Mr. Yogesh Shah Premchand |
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Designation : |
Director |
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Address : |
Plot No. 152, Vishramalaya Building, Sion Mumbai - 400 022,
Maharashtra, India |
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Date of Birth/Age : |
09.02.1960 |
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Qualification : |
B.Com |
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Date of Appointment : |
18.01.1996 |
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DIN No. : |
00874447 |
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Other Directorship :
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MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Ashwin Premchnd Shah |
15100 |
|
Premchand Mepa Shah |
100 |
|
Yogesh Premchnd Shah |
15000 |
|
Saloni Ashwin Shah |
10000 |
|
Rushab Ashwin Shah |
10000 |
|
Jay Yogesh Shah |
10000 |
|
Minal Yogesh Shah |
10000 |
|
Harsh Yogesh Shah |
10000 |
|
Priti Ashwin Shah |
10000 |
|
Total |
90200 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer Exporter and Supplier of Flexible Blow
Moulded Hoses, Collapsible Corrugated Hoses, Pipes / Profiles, Moulded
Fittings, Sanitaryware |
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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 : |
Finished Goods |
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Countries : |
Sri Lanka |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
Ø HDFC Bank
Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai -
400013, Maharashtra, India Ø State Bank of
India, Industrial Finance Brnch, Sakinaka Mumbai, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Dipesh J. Mehta and Company Chartered Accountants |
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Address : |
201, Swasti House, 70, Kazi Sayed Street, Mumbai - 400 003,
Maharashtra, India |
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Tel. No. : |
91-22- 2343 8669 |
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Fax No. : |
91-22- 6634 6374 |
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E-Mail : |
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PAN
No. : |
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Sister Concern : |
Ashwin Plastic |
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Enterprises over which Major Shareholders, Key
Management Personnel and their relatives have significant influence : |
Ø Oswin Plastics
Private Limited Ø Ashwin Plastic
Industries Ø JHR Industries Ø Oswal
Engineering Corporation Ø Halari Poly
Extrusion LLP |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90200 |
Equity Shares |
Rs.10/- each |
Rs.0.902 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
0.902 |
0.902 |
0.902 |
|
(b) Reserves & Surplus |
80.821 |
70.137 |
56.365 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
81.723 |
71.039 |
57.267 |
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(3)
Non-Current Liabilities |
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|
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.014 |
0.276 |
0.306 |
|
(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) |
0.014 |
0.276 |
0.306 |
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(4)
Current Liabilities |
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|
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(a) Short
term borrowings |
14.215 |
13.089 |
16.681 |
|
(b) Trade payables |
2.306 |
3.211 |
1.256 |
|
(c) Other
current liabilities |
5.436 |
2.884 |
2.997 |
|
(d) Short-term
provisions |
7.190 |
7.884 |
5.242 |
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Total Current
Liabilities (4) |
29.147 |
27.068 |
26.176 |
|
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TOTAL |
110.884 |
98.383 |
83.749 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
26.442 |
21.132 |
18.895 |
|
(ii)
Intangible Assets |
0.190 |
0.233 |
0.257 |
|
(iii) Capital
work-in-progress |
4.603 |
2.010 |
0.529 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.555 |
0.496 |
0.575 |
|
(e) Other
Non-current assets |
5.740 |
7.193 |
6.095 |
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Total Non-Current
Assets |
40.530 |
31.064 |
26.351 |
|
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
17.530 |
19.470 |
14.523 |
|
(c) Trade
receivables |
34.746 |
31.237 |
30.213 |
|
(d) Cash
and cash equivalents |
15.507 |
15.070 |
10.728 |
|
(e)
Short-term loans and advances |
2.571 |
1.542 |
1.934 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
70.354 |
67.319 |
57.398 |
|
|
|
|
|
|
TOTAL |
110.884 |
98.383 |
83.749 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
169.922 |
142.136 |
130.239 |
|
|
|
Other Income |
1.775 |
1.283 |
0.789 |
|
|
|
TOTAL |
171.697 |
143.419 |
131.028 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
79.525 |
71.805 |
|
|
|
Purchase of Traded Goods |
|
1.255 |
3.278 |
|
|
|
(Increase)/Decrease
in Inventories of Finished Goods, Work-in-Progress and Traded Goods |
|
(4.210) |
(0.332) |
|
|
|
Employee Benefits Expense |
|
13.614 |
11.153 |
|
|
|
Other Expenses |
|
25.523 |
24.628 |
|
|
|
TOTAL |
148.199 |
115.707 |
110.532 |
|
|
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|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(Including Financial and Depreciation Expenses) |
27.712 |
20.496 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
1.742 |
1.828 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
25.970 |
18.668 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.846 |
1.598 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
23.498 |
24.124 |
17.070 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.538 |
5.111 |
3.977 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
15.960 |
19.013 |
13.093 |
|
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|
EARNINGS IN
FOREIGN CURRENCY |
Nil |
Nil |
Nil |
|
|
|
|
|
|
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|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3.182 |
1.707 |
3.927 |
|
|
TOTAL IMPORTS |
3.182 |
1.707 |
3.927 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
176.94 |
210.79 |
145.16 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/Sales) |
(%) |
9.39
|
13.37 |
10.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.32
|
25.03 |
20.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.34 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.17
|
0.18 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.41
|
2.49 |
2.19 |
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 |
0.902 |
0.902 |
0.902 |
|
Reserves & Surplus |
56.365 |
70.137 |
80.821 |
|
Net worth |
57.267 |
71.039 |
81.723 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
16.681 |
13.089 |
14.215 |
|
Total borrowings |
16.681 |
13.089 |
14.215 |
|
Debt/Equity ratio |
0.291 |
0.184 |
0.174 |
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 |
130.239 |
142.136 |
169.922 |
|
|
|
9.135 |
19.549 |
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 |
130.239 |
142.136 |
169.922 |
|
Profit |
13.093 |
19.013 |
15.960 |
|
|
10.05% |
13.38% |
9.39% |
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 |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: The registered office
of the company has been shifted from K Lekhraj Building, 1st Floor,
20 Carnac Road, Mumbai – 400003, Maharashtra India
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related Parties |
11.365 |
12.298 |
|
|
|
|
|
Total |
11.365 |
12.298 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10257269 |
11/10/2010 |
22,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B00200303 |
OPERATIONS
During the year the
company has achieved Sales Turnover of Rs. 169.922 Million (Previous year Rs.
142.135 Million) there is a growth of 19.55% over a previous financial year.
The growth is remarkable in the competitive circumstances in the industry.
Board of Directors
have set-up new manufacturing unit at Ranjangaon and Pune to manufacture
refrigerator gasket, extruded plastic pipe and profiles.
FIXED ASSETS
Ø Land Leasehold
Ø Flats at Daman
Ø Factory Building
Ø Plant and
Machinery
Ø Dies and Moulds
Ø Computers
Ø Furniture and
Fittings
Ø Vehicles
Ø Computer Software
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.62.60 |
|
|
1 |
Rs.92.95 |
|
Euro |
1 |
Rs.68.14 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
47 |
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.