MIRA INFORM REPORT
|
Report No. : |
321912 |
|
Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
WATER PROOF CORPORATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Waco House, Masrani Lane, Kurla (West), Mumbai – 400070, Maharashtra |
|
Tel. No.: |
91-22-25034579 / 25144579 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.07.1942 |
|
|
|
|
Com. Reg. No.: |
11-003635 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17298MH1942PTC003635 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Supplier, Distributor and Exporter of Gummed
Paper Tapes. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
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 |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The rating takes into consideration company’s well-established track record
of business operations supported by healthy networth and adequate debt
protection metrics of the company. Trade relations are fair. Business is active. Payments are reported to
be 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.
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 DENIED BY
|
Name : |
Mr. Balakrishna |
|
Designation : |
Accounts manager |
|
Contact No.: |
91-22-25034579 |
|
Date : |
11.05.2015 |
LOCATIONS
|
Registered Office / Factory : |
Waco House, Masrani Lane, Kurla (West), Mumbai – 400070, Maharashtra, India |
|
Tel. No.: |
91-22-25034579 / 2503 3773 / 2503 8319 / 6575 2131 / 25144579 |
|
Fax No.: |
91-22 2503 4318 / 25038319 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 25.09.2014
|
Name : |
Jaivir Ranbir Singh |
|
Designation : |
Director |
|
Address : |
Vellard View, Peddar Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
21.12.1935 |
|
Date of Appointment : |
24.07.1990 |
|
Voter ID No.: |
MT/04/024/228191 |
|
DIN No.: |
00015467 |
|
|
|
|
Name : |
Indira Kamal Bhavnani |
|
Designation : |
Director |
|
Address : |
7, Hindustan House, 28, Altamount Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
14.06.1946 |
|
Date of Appointment : |
27.12.1993 |
|
Voter ID No.: |
MT/04/024/252329 |
|
DIN No.: |
00476820 |
|
|
|
|
Name : |
Kamal Kishin Chand Bhavnani |
|
Designation : |
Director |
|
Address : |
7, Hindustan House, 28,Altamount Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
20.05.14945 |
|
Date of Appointment : |
22.11.1968 |
|
Voter ID No.: |
MT/04/024/252464 |
|
DIN No.: |
00507490 |
|
|
|
|
Name : |
Yashwant Purushottam Kunte |
|
Designation : |
Additional director |
|
Address : |
C 201, Arihant Hills,, Sheelphata, Tal - Khalapur, Sajgaon, Raigad, Khopoli - 410203, Maharashtra, India |
|
Date of Appointment : |
11.03.2015 |
|
DIN No.: |
07113540 |
KEY EXECUTIVES
|
Name : |
Mr. Balakrishna |
|
Designation : |
Accounts manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Kamal Kishin Chand Bhavnani |
182402 |
50.67 |
|
Indira Kamal Bhavnani |
150 |
0.04 |
|
Jaivir Ranbir Singh |
45022 |
12.51 |
|
Mala Nikhil Advani |
75400 |
20.94 |
|
Jayati J Singh |
45022 |
12.51 |
|
Kamal K Bhavnani |
12004 |
3.33 |
|
Total |
360000 |
100.00 |
AS ON 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Supplier, Distributor and Exporter of Gummed
Paper Tapes. |
|
|
|
|
Products : |
Not Available |
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|
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|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Divulged |
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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 : |
|
|
Auditors : |
|
|
Name : |
N.M. Raiji and Company Chartered Accountants |
|
Address : |
Universal Insurance Building, P.M. Road, Mumbai – 400001, Maharashtra,
India |
|
Tel. No.: |
91-22-22870068 / 22873463 |
|
Fax No.: |
91-22-22828646 / 22650578 |
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E-Mail : |
|
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFN4217G |
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Memberships : |
-- |
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Collaborators : |
-- |
|
|
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|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
360,000 |
Equity Shares |
Rs.10/- each |
Rs.3.600
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3.600 |
3.600 |
3.600 |
|
(b) Reserves &
Surplus |
94.732 |
78.148 |
61.119 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
98.332 |
81.748 |
64.719 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.722 |
5.403 |
0.470 |
|
Total Non-current
Liabilities (3) |
5.722 |
5.403 |
0.470 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
4.403 |
4.035 |
7.125 |
|
(c) Other current liabilities |
17.367 |
15.635 |
10.879 |
|
(d) Short-term provisions |
0.895 |
1.001 |
4.321 |
|
Total Current Liabilities
(4) |
22.665 |
20.671 |
22.325 |
|
|
|
|
|
|
TOTAL |
126.719 |
107.822 |
87.514 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.251 |
5.278 |
4.771 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.774 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.370 |
0.277 |
0.261 |
|
(d) Long-term Loan and Advances |
3.858 |
1.241 |
0.958 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
8.479 |
6.796 |
6.764 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
23.295 |
21.718 |
21.306 |
|
(c) Trade receivables |
13.839 |
16.823 |
13.930 |
|
Other Bank Balance |
63.483 |
48.531 |
20.344 |
|
(d) Cash and cash
equivalents |
12.438 |
8.547 |
23.957 |
|
(e) Short-term loans and
advances |
2.508 |
3.100 |
0.770 |
|
(f) Other current assets |
2.677 |
2.307 |
0.443 |
|
Total Current Assets |
118.240 |
101.026 |
80.750 |
|
|
|
|
|
|
TOTAL |
126.719 |
107.822 |
87.514 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
25.008 |
23.305 |
12.715 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
69.47 |
64.74 |
35.32 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.22 |
4.89 |
3.62 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
3.600 |
3.600 |
3.600 |
|
Reserves & Surplus |
61.119 |
78.148 |
94.732 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
64.719 |
81.748 |
98.332 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:NOT AVAILABLE
|
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 |
No |
|
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 |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
FIXED ASSETS
Tangible assets
- Land
- Building
- Plant and machinery
- Furniture and fixture
- Vehicle
- Factory Equipment
- Computer
- Electrical Fitting
- Laboratory Equipment
Intangible Assets
- 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.63.85 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.