MIRA INFORM REPORT
|
Report No. : |
320439 |
|
Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
BODY DRENCH INDIA PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Dev Plaza, 9th Floor, No. 906, S V Road, Andheri (West),
Mumbai – 400053, Maharashtra |
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Tel. No.: |
91-22-42642395 |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
22.12.2000 |
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Com. Reg. No.: |
11-130181 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.137 Million |
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|
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CIN No.: [Company Identification
No.] |
U99999MH2000PTC130181 |
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|
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IEC No.: |
0301035563 |
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|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCB6243J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Exporter and Importer of Technogym Equipments. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Management of the company has failed to file its financial after 2012
with government department. Mr. S. S. Appaji (Finance Manager) has provided us with all
information and he also confirmed that the company has sales turnover of Rs.
230.000 Million for the year 2014 which is not verified. However, business is active as per the status shown in the registrar
of companies. Payment are reported to be unknown. The company can be considered for business dealings on safe and
secured 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
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. S.S. Appasi |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-80-41126068 |
|
Date : |
30.04.2015 |
LOCATIONS
|
Registered Office : |
Dev Plaza, 9th Floor, No. 906, S V Road, Andheri (West),
Mumbai – 400053, Maharashtra, India |
|
Tel. No. : |
91-22-42642395 |
|
Fax No. : |
91-22-42642396 |
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E-Mail : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
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|
Sales Office : |
553, Phase 5, Udyog Vihar, Gurgaon – 122016, Haryana, India |
|
|
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Head Office : |
1/15, The Presidency No.2, 1st Floor, St. Mark Road,
Bangalore – 560001, Karnataka, India |
|
Tel. No.: |
91-80-41126068 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Pankaj Arora |
|
Designation : |
Managing Director |
|
Address : |
C-II/926, Palam Vihar, Gurgaon - 122017, Haryana, India |
|
Date of Birth/Age : |
15.12.1972 |
|
Date of Appointment : |
01.08.2006 |
|
DIN No. : |
01804229 |
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|
|
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Name : |
Mr. Satwinder Kaur Kundhi |
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Designation : |
Director |
|
Address : |
Apartments 52, Convent Court, Hatch Lane, Windsor, SL43QR, United Kingdom |
|
Date of Appointment : |
22.12.2000 |
|
DIN No. : |
02484220 |
|
|
|
|
Name : |
Mr. Pavindar Singh Mahal |
|
Designation : |
Director |
|
Address : |
22, Ambleside Gardens, South Kenton, Harrow, HA38TL, United Kingdom |
|
Date of Appointment : |
22.12.2000 |
|
DIN No. : |
02484245 |
KEY EXECUTIVES
|
Name : |
Mr. S.S. Appasi |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Fatehjung Singh |
5 |
|
Jasmin Singh |
5 |
|
Satwinder Kaur Kundhi |
1360 |
|
Total |
1370 |
As on 29.09.2012
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 : |
Trader, Exporter and Importer of Technogym Equipments. |
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Products : |
Technogym Equipments |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Italy |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
60 (Approximately) |
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Bankers : |
· ABN Amro Bank N V, 74, Sakhar Bhavan, 7th Floor, Nariman Point, Mumbai - 400021, Maharashtra, India ·
United Bank of India, Khanpur Branch, B-10, Develi
Road, New Delhi Region, New Delhi - 110062, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ananthaswamy Srinivasa Rao Chartered Accountants |
|
Address : |
2nd Cross, 6th Main, Srinidhi Layout Konankunte, Bangalore – 560062, Karnataka, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAMPA4269M |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000 |
Equity Shares |
Rs.100/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,370 |
Equity Shares |
Rs.100/- each |
Rs. 0.137 Million |
|
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.137 |
0.137 |
0.137 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.460 |
11.757 |
8.203 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
14.597 |
11.894 |
8.340 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.583 |
3.299 |
0.168 |
|
|
2] Unsecured Loans |
8.474 |
8.473 |
8.474 |
|
|
TOTAL BORROWING |
11.057 |
11.772 |
8.642 |
|
|
DEFERRED TAX LIABILITIES |
1.627 |
1.175 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
27.281 |
24.841 |
16.982 |
|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.665 |
11.973 |
11.076 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
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|
|
|
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|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
19.468
|
41.968 |
30.268 |
|
|
Sundry Debtors |
27.836
|
25.221 |
48.426 |
|
|
Cash & Bank Balances |
21.555
|
12.233 |
2.868 |
|
|
Other Current Assets |
0.195
|
0.533 |
0.130 |
|
|
Loans & Advances |
8.592
|
8.590 |
6.299 |
|
Total
Current Assets |
77.646
|
88.545 |
87.991 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.511
|
3.618 |
4.270 |
|
|
Other Current Liabilities |
51.182
|
68.633 |
75.788 |
|
|
Provisions |
2.337
|
3.426 |
2.028 |
|
Total
Current Liabilities |
60.030
|
75.677 |
82.086 |
|
|
Net Current Assets |
17.616
|
12.868 |
5.906 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27.281 |
24.841 |
16.982 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
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|
TURNOVER
|
181.004 |
111.259 |
153.988 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) |
2.703 |
3.553 |
3.109 |
|
|
|
|
|
|
|
|
DEPRECIATION |
2.578 |
3.314 |
2.585 |
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
230.000 |
200.000 |
|
|
|
|
|
Expected Sales (2014-2015): Rs. 250.000 Millions
The above information has been parted by Mr. S. S. Appasi (Finance
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.29
|
1.17 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76
|
0.99 |
0.97 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.137 |
0.137 |
0.137 |
|
Reserves & Surplus |
8.203 |
11.757 |
14.46 |
|
Net
worth |
8.340 |
11.894 |
14.597 |
|
|
|
|
|
|
Secured Loans |
0.168 |
3.299 |
2.583 |
|
Unsecured Loans |
8.474 |
8.473 |
8.474 |
|
Total
borrowings |
8.642 |
11.772 |
11.057 |
|
Debt/Equity
ratio |
1.036 |
0.990 |
0.757 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Turnover |
153.988 |
111.259 |
181.004 |
|
|
|
-27.748 |
62.687 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Turnover |
153.988 |
111.259 |
181.004 |
|
Profit |
3.109 |
3.553 |
2.703 |
|
|
2.02% |
3.19% |
1.49% |
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 |
No |
|
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
five years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10433299 |
10/12/2012 |
4,000,000.00 |
UNITED BANK OF INDIA |
KHANPUR BRANCH, B-10, DEVELI ROAD, NEW DELHI REGION, NEW DELHI - 110062, INDIA |
B68633775 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2012 (Rs.
In Million) |
31.03.2011 (Rs.
In Million) |
|
Jardine Roche |
6.555 |
6.554 |
|
Loan from Directors |
1.919 |
1.919 |
|
Total |
8.474 |
8.473 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from Suite B-304, Atlantis, Oshiwara, Opposite Shantivanamhada, Andheri (West), Mumbai – 400053, Maharashtra, India to the present address w.e.f. 15.01.2010.
FIXED ASSETS
· Computers and Printers
· Electrical Equipments
· Furniture and Fittings
· Office Equipments
· Motor Vehicles
· Fitness Equipments
· Plant and Machinery
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. 63.58 |
|
|
1 |
Rs. 97.99 |
|
Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.