MIRA INFORM REPORT

 

 

Report No. :

322771

Report Date :

20.05.2015

 

IDENTIFICATION DETAILS

 

Name :

MERCURY IMPEX

 

 

Registered Office :

1st Floor, Keshavji, Naik Road, Mumbai – 400009, Maharashtra

Tel. No.:

91-22-23778153

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Year of Establishment:

1974

 

 

Capital Investment / Paid-up Capital :

Rs. (4.650) Million

 

 

TIN No.:

Not Available

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Processing, Trading of Pulses

 

 

No. of Employees :

7 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established proprietary concern having moderate track record.

 

Borrowings recorded by the company are huge and increasing

 

However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct.

 

The concern can considered normal for business dealings with some caution.

 

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.

 

Subject’s name has been found enlisted as a defaulter in the publicly available RBI Defaulters’ list and the details of the same are as under :

 

 

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. Pradeep Maru

Designation :

Proprietor

Contact No.:

91-9820067641

Date :

16.05.2015

 

 

LOCATIONS

 

Registered Office :

1st Floor, Keshavji, Naik Road, Mumbai – 400009, Maharashtra, India

Tel. No.:

91-22-23778153/40025861/23725861

Mobile No.:

91-9820067641 (Mr. Pradeep)

Fax No.:

Not Available

E-Mail :

esquire@vsnl.com

mercuryimpex@hotmail.com

 

 

Factory :

Near Bus Stand, Schahada, Dhulia, Maharashtra,India

 

 

SOLE PROPRIETOR

 

Name :

Mr. Pradeep Maru

Designation :

Proprietor

 

 

BUSINESS DETAILS

 

Line of Business :

Processing, Trading of pulses

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Good

Countries :

Middle east

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Canada
  • USA
  • Australia
  • Burma

 

 

Terms :

Not Divulged

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Hakan Agro DMCC, Dubai

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Murlidhar Ratan C and Company

Name of the Person :

Mr. Kalpesh (Proprietor)

Contact No.:

91-9920553355/67553355

Since How Long Known :

20 Years

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality

Delivery Behaviour

Overall

Excellent

Excellent

Excellent

Remark:

They gave us positive response about subject company they are satisfied with their product quality and delivery behavior.

 

 

No. of Employees :

7 (Approximately)

 

 

Bankers :

Bank Name

ICICI Bank

Branch

Javeri Bazar Branch, Kalbhadevi, Mumbai – 400002, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Bank Name

Union Bank of India

Branch

Bhat Bazar Branch, Mumbai – 400009, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Bank Name

Kotak Mahindra Bank

Branch

Kalbadevi Branch

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Mukesh M. Ganggar and Company

Chartered Accountants

Address :

Dadar (West), Mumbai, Maharashtra, India

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister Concern:

Mercury Startrading Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

Capital Account

 

Pradeep Dungershy Maroo

Rs.(3.230) Million

Pradeep Maroo Capital Account

Rs.(1.420) Million

Total

Rs. (4.650) Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

 

 

31.03.2015

31.03.2014

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

(4.650)

(1.420)

2] Share Application Money

 

0.000

0.00

3] Reserves & Surplus

 

5.073

2.275

4] (Accumulated Losses)

 

0.000

0.00

NETWORTH

 

0.423

0.855

LOAN FUNDS

 

 

 

1] Secured Loans

 

0.000

0.000

2] Unsecured Loans

 

24.805

3.290

TOTAL BORROWING

 

24.805

3.290

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

25.228

4.145

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

0.000

0.000

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.000

0.000

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 
16.769
6.040

 

Sundry Debtors
 
7.386
0.000

 

Cash & Bank Balances
 
1.088
(1.722)

 

Other Current Assets
 
0.029
0.030

 

Loans & Advances
 
0.000
0.000

Total Current Assets
 
25.272
4.348

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors
 
0.005
0.042

 

Other Current Liabilities
 
0.039
0.161

 

Provisions
 
0.000
0.000

Total Current Liabilities
 
0.044
0.203

Net Current Assets
 
25.228
4.145

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 
25.228
4.145

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

SALES

 

 

 

Income

 

216.350

72.563

Other Income

 

0.219

0.290

TOTAL

 

216.569

72.853

 

 

 

 

EXPENSES

 

 

 

Cost of Materials Consumed

 

201.785

67.640

Audit Fees

 

0.014

0.000

Bank charges

 

0.080

0.033

Clearing Agency

 

7.176

1.056

Electricity Charges

 

0.025

0.000

Interest Paid Account

 

1.408

0.838

License Fees

 

0.038

0.000

Misc. Expenses

 

0.005

0.003

Telephone charges

 

0.019

0.000

Travel Expenses

 

0.077

0.000

Broker Chargers

 

0.736

0.320

Other Expenses

 

2.408

0.682

TOTAL

 

213.771

70.572

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

2.798

2.281

 

 

 

 

DEPRECIATION/ AMORTISATION

 

 0.000

0.007

 

 

 

 

NET PROFIT/ (LOSS)  BEFORE TAX

 

2.798

2.274

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2015

31.03.2014

Net Profit Margin

(PAT / Sales)

(%)
 

1.29

3.13

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

11.07

52.30

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

6.61

2.66

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 
 

58.64

3.85

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.02

1.32

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

Share Capital

(1.420)

(4.650)

Reserves & Surplus

2.275

5.073

Money received against share warrants

0.000

0.000

 Share Application money pending allotment

0.000

0.000

Net worth

0.855

0.423

 

 

 

long-term borrowings

0.000

0.000

Short term borrowings

3.290

24.805

Current Maturities Of Long-Term Debts

0.000

0.000

Total borrowings

3.290

24.805

Debt/Equity ratio

3.848

58.641

 

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

Sales

72.563

216.350

 

198.155

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

Sales

72.563

216.350

Profit

2.274

2.798

 

3.13%

1.29%

 

 

 

 

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

No

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

No

10

Date of Birth of Proprietor / Partners / Directors

No

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

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

No

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

No

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

No

30

Major shareholders, if available

No

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.55

UK Pound

1

Rs.99.86

Euro

1

Rs.72.67

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ART

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

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

 

30

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.