MIRA INFORM REPORT
|
Report No. : |
312488 |
|
Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
VEER ENTERPRISES |
|
|
|
|
Registered
Office : |
45-B, Parkash Nagar, Jalandhar – 141003, Punjab |
|
Tel. No.: |
91-181-4627645 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 [Provisional] |
|
|
|
|
Year of
Establishment : |
15.05.2009 |
|
|
|
|
Capital
Investment : |
Rs. 4.915 Million |
|
|
|
|
TIN No.: |
03232063165 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHFV4607R |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
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|
|
|
Line of Business
: |
Trader and Dealer of Pharma Products. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
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 |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject was established as a partnership concern during July 2009 but
later it got converted to proprietary concern on 1st April 2014. Mr. Sanju Verma (Chief Executive Officer) gave us all the information
about subject. As per available financial of 2014 of partnership concern, it
has fair profit margin. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The concern 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 |
|
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. Sanju Verma |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9855151616 |
|
Date : |
06.05.2015 |
LOCATIONS
|
Registered Office : |
45-B, Parkash Nagar, Jalandhar – 141003, Punjab, India |
|
Tel. No.: |
91-181-4627645 |
|
Mobile No.: |
91-9855151616 [Mr. Sanju Verma] |
|
Fax No.: |
91-181-4629646 |
|
E-Mail : |
|
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mrs. Neetu Verma |
|
Designation : |
Proprietor |
|
Address : |
45-B, Parkash Nagar, Jalandhar – 141003, Punjab, India |
|
Date of Birth/Age : |
08.01.1976 |
|
Qualification : |
M.A. |
|
Experience : |
6 Years |
KEY EXECUTIVES
|
Name : |
Mr. Sanju Verma |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Mr. Manpreet |
|
Designation : |
Marketing Department |
BUSINESS DETAILS
|
Line of Business : |
Trader and Dealer of Pharma Products. |
|
|
|
|
Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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|
Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
|
Countries : |
-- |
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Terms : |
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|
Selling : |
-- |
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|
|
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Purchasing : |
-- |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers and Medical Specialties
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No. of Employees : |
10 (Approximately) |
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Bankers : |
· Axis Bank Limited |
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Facilities : |
(RS. IN MILLION)
|
||||||||||||||||||||||||||||||||||||||||||||
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|
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Auditors : |
|
|
Name : |
H.S. Makkar Chartered Accountant |
|
Mobile No.: |
91-9815320424 |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
· Gentle Technologies Services Address: 62-A, Ground
Floor, Rajiv Vihar, Surya Enclave, Jalandhar, Punjab, India Activity: Medical
Equipments. |
CAPITAL STRUCTURE
AS ON 31.03.2015 [PROVISIONAL]
(RS.
IN MILLION)
|
PARTICULARS |
AMOUNT |
|
NEETU VERMA |
|
|
Opening Balance |
2.987 |
|
Additions |
0.900 |
|
Drawings |
0.449 |
|
Profit |
1.477 |
|
|
|
|
Closing Balance |
4.915 |
FINANCIAL DATA
[all figures are
in Rupees Million]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF
FUNDS |
31.03.2015 [Provisional] |
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
[PARTNERSHIP FIRM] |
||
|
1] Capital |
4.915 |
6.341 |
5.035 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.915 |
6.341 |
5.035 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.992 |
1.473 |
1.088 |
|
|
2] Unsecured Loans |
5.721 |
1.476 |
1.699 |
|
|
TOTAL BORROWING |
6.713 |
2.949 |
2.787 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11.628 |
9.290 |
7.822 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.621 |
0.144 |
0.147 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.021
|
6.633 |
5.938 |
|
|
Sundry Debtors |
9.773
|
6.800 |
5.481 |
|
|
Cash & Bank Balances |
2.633
|
2.925 |
0.860 |
|
|
Other Current Assets |
0.492
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.376
|
0.625 |
0.516 |
|
Total
Current Assets |
16.295
|
16.983 |
12.795 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.043
|
6.384 |
4.653 |
|
|
Other Current Liabilities |
0.245
|
1.445 |
0.423 |
|
|
Provisions |
0.000
|
0.008 |
0.044 |
|
Total
Current Liabilities |
5.288
|
7.837 |
5.120 |
|
|
Net Current Assets |
11.007
|
9.146 |
7.675 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11.628 |
9.290 |
7.822 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 [Provisional] |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
[PARTNERSHIP FIRM] |
||
|
|
|
Income |
69.672 |
54.780 |
49.640 |
|
|
|
Other Income |
0.000 |
0.198 |
0.051 |
|
|
|
TOTAL |
69.672 |
54.978 |
49.691 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
65.623 |
51.351 |
46.551 |
|
|
|
Freight and T.T |
0.183 |
0.016 |
0.008 |
|
|
|
Bank Interest |
0.149 |
0.162 |
0.055 |
|
|
|
Festival Expenses |
0.045 |
0.059 |
0.056 |
|
|
|
Interest to Depositors |
0.512 |
0.167 |
0.152 |
|
|
|
Petrol for Car |
0.136 |
0.000 |
0.000 |
|
|
|
Salary |
0.938 |
1.032 |
1.002 |
|
|
|
Sales Promotion |
0.085 |
0.079 |
0.054 |
|
|
|
Scooter Maintenance |
0.096 |
0.090 |
0.089 |
|
|
|
Special discount |
0.063 |
0.000 |
0.000 |
|
|
|
Staff Welfare |
0.055 |
0.044 |
0.043 |
|
|
|
Other Expenses |
0.201 |
1.244 |
1.098 |
|
|
|
TOTAL |
68.086 |
54.244 |
49.108 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
1.586 |
0.734 |
0.583 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.109 |
0.028 |
0.038 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
1.477 |
0.706 |
0.545 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2015 [Provisional] |
31.03.2014 |
31.03.2013 |
|
|
|
|
[PARTNERSHIP FIRM] |
|
|
Net Profit Margin (PAT/Sales) |
(%) |
2.12
|
1.29 |
1.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.73
|
4.12 |
4.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.11 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.37
|
0.47 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.08
|
2.17 |
2.50 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015
[Provisional] |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
5.035 |
6.341 |
4.915 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5.035 |
6.341 |
4.915 |
|
|
|
|
|
|
Long-term borrowings |
1.088 |
1.473 |
0.992 |
|
Short term borrowings |
1.699 |
1.476 |
5.721 |
|
Total
borrowings |
2.787 |
2.949 |
6.713 |
|
Debt/Equity ratio |
0.554 |
0.465 |
1.366 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015
[Provisional] |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
49.640 |
54.780 |
69.672 |
|
|
|
10.355 |
27.185 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015
[Provisional] |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
49.640 |
54.780 |
69.672 |
|
Profit |
0.545 |
0.706 |
1.477 |
|
|
1.10% |
1.29% |
2.12% |
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 |
No |
|
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 |
No |
|
12] |
Profitability for last
three years |
No |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
No |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
(RS.
IN MILLION)
|
PARTICULARS |
31.03.2015 (Provisional) |
|
|
|
|
Sanju Verma HUF |
0.868 |
|
Sanju Verma |
4.853 |
|
|
|
|
Total |
5.721 |
------------------------------------------------------------------------------------------------------------------------------
VEER ENTERPRISES
SUMMARIZED PROJECTED BALANCE SHEET FIGURES
(RS. IN MILLION)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
LIABILITIES |
|
|
|
Proprietor’s Capital Account |
7.009 |
6.737 |
|
|
|
|
|
Secured Loans |
0.850 |
0.900 |
|
|
|
|
|
Unsecured Loans |
7.176 |
6.408 |
|
|
|
|
|
Sundry Creditors |
5.535 |
5.181 |
|
|
|
|
|
Other Current Liabilities |
0.253 |
0.248 |
|
|
|
|
|
ASSETS |
|
|
|
Fixed Assets |
0.452 |
0.529 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
Closing Stock |
4.175 |
3.649 |
|
|
|
|
|
Sundry Debtors |
15.750 |
11.576 |
|
|
|
|
|
Cash and Bank Balances |
1.345 |
4.596 |
|
|
|
|
|
Other Current Liabilities |
0.491 |
0.491 |
|
|
|
|
|
Loans and Advances |
0.406 |
0.385 |
------------------------------------------------------------------------------------------------------------------------------
VEER ENTERPRISES
PROJECTED PROFIT & LOSS ACCOUNT
(RS. IN MILLION)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
81.784 |
72.555 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL |
|
81.784 |
72.555 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
|
77.246 |
68.528 |
|
|
|
Bank Interest |
|
0.162 |
0.155 |
|
|
|
Festival Expenses |
|
0.047 |
0.046 |
|
|
|
Interest to Depositors |
|
0.769 |
0.687 |
|
|
|
Petrol for Car |
|
0.145 |
0.138 |
|
|
|
Salary |
|
0.966 |
0.948 |
|
|
|
Sales Promotion |
|
0.088 |
0.087 |
|
|
|
Scooter Maintenance |
|
0.099 |
0.098 |
|
|
|
Special discount |
|
0.065 |
0.064 |
|
|
|
Staff Welfare |
|
0.057 |
0.057 |
|
|
|
Other Expenses |
|
0.218 |
0.208 |
|
|
|
TOTAL |
|
79.862 |
71.016 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
|
1.922 |
1.539 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.078 |
0.092 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
1.844 |
1.447 |
|
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Plant and Machinery
· Furniture
· 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 records 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. 63.64 |
|
|
1 |
Rs. 96.81 |
|
Euro |
1 |
Rs. 71.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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.