MIRA INFORM REPORT
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Report No. : |
322711 |
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Report Date : |
18.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
YOGESH ENTERPRISES PRIVATE LIMITED |
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Registered
Office : |
632, Ghat Road, Near Mokshadham, Nagpur – 440018, Maharashtra |
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Tel No.: |
91-712-2722532 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.11.2003 |
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Com. Reg. No.: |
11-143059 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Million |
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CIN No.: [Company Identification
No.] |
U51420MH2003PTC143059 |
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TIN No.: |
27130347476 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
NGPY02386G |
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PAN No.: [Permanent Account No.] |
AAACY2180N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading and Profiling of Steels. |
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No. of Employees
: |
6 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
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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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. The company has reported a better increase in its sales volume, but net
profitability has declined during FY 2014. However, it has fair liquidity
position marked by favorable gap between trade receivable and payables. Trade relations reported to be fair. Business is active. Payments are
reported to be slow but 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
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 (GENERAL DETAILS)
|
Name : |
Mr. Ravi |
|
Designation : |
Admin Head |
|
Contact No.: |
91-712-2722532 |
|
Date : |
15.05.2015 |
LOCATIONS
|
Registered Office : |
632, Ghat Road, Near Mokshadham, Nagpur – 440018, Maharashtra, India |
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Tel. No.: |
91-712-2722532 |
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Fax No.: |
91-712-2721640 |
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E-Mail : |
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Area : |
4000 Sq. Ft. |
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Location : |
Owned |
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|
|
Shop : |
143, Small Factory Area, Near Prabhu Steel, Bagadgunj, Nagpur -
440008, Maharashtra, India |
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Tel. No.: |
91-712-3539000 / 2763771 |
|
Fax No.: |
91-712-2721640 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Sunil Kumar Tulsyan |
|
Designation : |
Managing Director |
|
Address : |
654 B, Ghat Road, Nagpur - 440018, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1958 |
|
Date of Appointment : |
10.11.2003 |
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DIN No.: |
01956794 |
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|
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|
Name : |
Mr. Sameer Prakashchand Agrawal |
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Designation : |
Director |
|
Address : |
House No. 580, Godavari, Tekdi Road, Sadar, Nagpur - 440001,
Maharashtra, India |
|
Date of Birth/Age : |
01.11.1974 |
|
Date of Appointment : |
12.06.2008 |
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DIN No.: |
00170957 |
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Name : |
Mrs. Vanita Sunil Tulsyan |
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Designation : |
Director |
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Address : |
654 B, Ghat Road, Nagpur - 440018, Maharashtra, India |
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Date of Birth/Age : |
20.12.1963 |
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Date of Appointment : |
10.11.2003 |
|
DIN No.: |
02624132 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi |
|
Designation : |
Admin Head |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Sunil Kumar Tulsyan |
10000 |
2.00 |
|
Vanita Sunil Tulsyan |
490000 |
98.00 |
|
Total |
500000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading and Profiling of Steels. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
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Countries : |
China |
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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 : |
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No. of Employees : |
6 (Approximately) |
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Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India · Canara Bank, Residency Road, Sadar Bazar, Nagpur - 440001, Maharashtra, India · Shaikshak Sahakari Bank Limited, Medical Branch, Nagpur, Maharashtra, India · HDFC Bank Limited, Nagpur, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Sawalkar and Bonde Chartered Accountants |
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Address : |
3rd Floor, Sawalkar Bhawan, Opposite Jhulelal Mandir, Nagpur – 440018, Maharashtra, India |
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Tel. No.: |
91-712-3012300 / 2720081 |
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E-Mail : |
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PAN No.: |
ABRFS5035R |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 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 |
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|
|
|
(a) Share Capital |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
35.271 |
32.032 |
22.639 |
|
(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) |
40.271 |
37.032 |
27.639 |
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(3)
Non-Current Liabilities |
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.026 |
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(b) Deferred tax liabilities (Net) |
1.599 |
1.418 |
1.308 |
|
(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) |
1.599 |
1.418 |
1.334 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
121.922 |
92.916 |
94.056 |
|
(b) Trade
payables |
18.990 |
38.236 |
18.450 |
|
(c) Other current
liabilities |
0.457 |
1.694 |
1.597 |
|
(d) Short-term
provisions |
1.323 |
4.364 |
1.175 |
|
Total Current
Liabilities (4) |
142.692 |
137.210 |
115.278 |
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|
|
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TOTAL |
184.562 |
175.660 |
144.251 |
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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 |
15.890 |
15.996 |
10.442 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.077 |
12.129 |
3.270 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
21.967 |
28.125 |
13.712 |
|
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(2)
Current assets |
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|
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|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.085 |
89.826 |
79.027 |
|
(c) Trade
receivables |
80.585 |
57.376 |
51.218 |
|
(d) Cash
and cash equivalents |
0.925 |
0.333 |
0.294 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
162.595 |
147.535 |
130.539 |
|
|
|
|
|
|
TOTAL |
184.562 |
175.660 |
144.251 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
|
816.822 |
707.273 |
|
|
|
Other operating revenue |
|
1.422 |
2.100 |
|
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|
Other Income |
NA |
10.525 |
1.023 |
|
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|
TOTAL (A) |
NA |
828.769 |
710.396 |
|
|
|
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|
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Less |
EXPENSES |
|
|
|
|
|
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|
Cost of Material Consumed |
|
788.918 |
680.801 |
|
|
|
Operating Expenses |
|
7.110 |
13.631 |
|
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Employee Cost |
|
4.336 |
3.395 |
|
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|
Other Expenses |
|
3.009 |
2.214 |
|
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TOTAL (B) |
NA |
803.373 |
700.041 |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.141 |
25.396 |
10.355 |
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|
Less |
FINANCIAL
EXPENSES (D) |
12.605 |
10.939 |
10.732 |
|
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|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
5.536 |
14.457 |
(0.377) |
|
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|
|
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|
Less |
DEPRECIATION/
AMORTISATION (F) |
0.793 |
0.593 |
0.517 |
|
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PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
4.743 |
13.864 |
(0.894) |
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Less |
TAX (H) |
1.505 |
4.471 |
1.768 |
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|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
3.238 |
9.393 |
(2.662) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.48 |
18.79 |
(5.32) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.056 |
0.340 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
3.11 |
1.46 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
3.11 |
1.46 |
|
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|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
14.46 |
7.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
21.19 |
0.69 |
0.37 |
|
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|
|
|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
3.03 |
2.51 |
3.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.08 |
1.13 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
22.639 |
32.032 |
35.271 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
27.639 |
37.032 |
40.271 |
|
|
|
|
|
|
Long Term borrowings |
0.026 |
0.000 |
0.000 |
|
Short Term borrowings |
94.056 |
92.916 |
121.922 |
|
Current Maturities of Long term debt |
0.340 |
0.056 |
0.000 |
|
Total
borrowings |
94.422 |
92.972 |
121.922 |
|
Debt/Equity
ratio |
3.416 |
2.511 |
3.028 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
---------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter ID Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
no |
|
32 |
Litigations that the firm/promoter
involved in |
---------- |
|
33 |
Market information |
---------- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Unsecured loan from
Directors |
|
|
|
Sunil Kumar Tulsyan |
18.398 |
18.443 |
|
Sunil Kumar Tulsiyan HUF |
0.582 |
0.526 |
|
Samir Agrawal |
5.207 |
4.700 |
|
Total |
24.187 |
23.669 |
CORPORATE
INFORMATION
The main business activity of subject is to trading and profiling steel. The principal place of Company is Nagpur.
FINANCIAL
PERFORMANCE
During the period the company earned a net profit of Rs.3.238 Million as
competed to the net profit Rs.9.393 Million of the financial year. The
directors are of the view that they shall be in a position to achieve higher
growth rate in the future and shall strive for excellence in the industry.
The industrial growth which has come to a recession phase in witness a
new dawn and the hope of revival are being witnessed everywhere. Barring the
temporary phase of the downward trends, by the industry was stable and the net
results were quite encouraging.
The earing per share have been Rs.6.48 per share, which is reasonable
good. The board is confident of delivering further better result in days to
come.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10264825 |
19/11/2014 * |
121,800,000.00 |
HDFC Bank Limited |
HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
C33711011 |
*Date of modification Charges
FIXED ASSETS:
· Land
· Civil Construction
· Factory Building
· Furniture and Fixtures
· Plant and Machinery
· Scooter
· Vehicle
· Computers
· Cycle
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.63.58 |
|
|
1 |
Rs.100.38 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
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 |
|
41 |
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.