MIRA INFORM REPORT
|
Report No. : |
325383 |
|
Report Date : |
30.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
GREEN SHIELD ENTERPRISES PRIVATE LIMITED (w.e.f. 11.07.2012) |
|
|
|
|
Formerly Known
As : |
MEALTREE E-SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Room No. 5, Hetal Apartment, N.S. Road, Mulund (West), Mumbai –
400080, Maharashtra |
|
Tel. No.: |
91-22-25684733 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.07.2008 |
|
|
|
|
Com. Reg. No.: |
11-184619 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2008PTC184619 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEG14650G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECG8284B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Textiles. |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appears a huge external borrowing recorded by the company during
2014. Profitability of the company also appears to be low. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. In the view of extensive experience of promoters, the company can be
considered for business dealing 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating (B+) |
|
Rating Explanation |
Risk prone credit quality and carries vary high credit risk. |
|
Date |
August 05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating (A4) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
August 05.2014 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Sandeep Agrahari |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-25684733 |
|
Date : |
30.05.2015 |
LOCATIONS
|
Registered Office : |
Room No. 5, Hetal Apartment, N.S. Road, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Tel. No.: |
91-22-25684733 |
|
Mobile No.: |
91-9322426322 [Mr. Ashish Kanodia] |
|
Fax No.: |
91-22-25684733 |
|
E-Mail : |
|
|
Location: |
Owned |
|
|
|
|
Warehouse: |
V-27, Patra Shed, Raj Laxmi Commercial Complex, Village Kalher,
Bhiwandi, Thane, Maharashtra, India |
|
Location : |
Rented |
|
Locality : |
Commercial |
DIRECTORS
As on 30.09.2014
|
Name : |
Mrs. Arti Ashish Kanodia |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-9/10, Ekta Appartment, LBS Marg, Opposite Santoshi Mata Mandir,
Mulund (West), Mumbai – 400080, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.02.1974 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.06.2012 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
03190189 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sudhir Vijay Goyal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
303 Naintara Apts., Sant Gyaneshawar, Road, Plot No. 20, Airoli, Navi Mumbai
– 400708, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.05.1974 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.01.2014 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
02252270 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Agrahari |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Arti
Kanodia |
1539000 |
76.95 |
|
Ashish
Kanodia |
460000 |
23.00 |
|
Sandeep
Pol |
1000 |
0.05 |
|
Total |
2000000 |
100.00 |
As on 30.09.2014
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 of Textiles. |
|
|
|
|
Products : |
Textiles |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
35 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
H.K. Agarwal Chartered Accountants |
|
Address : |
8 , Cosmos Tower,1st Floor, Near Navneet Motors, L.B.S. Marg, Thane (West) – 400607, Maharashtra, India |
|
PAN No.: |
AARPA9128N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
20.000 |
20.000 |
0.100 |
|
(b) Reserves &
Surplus |
3.718 |
1.606 |
0.000 |
|
(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) |
23.718 |
21.606 |
0.100 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.011 |
0.008 |
0.000 |
|
(c) Other long term
liabilities |
25.317 |
126.860 |
0.000 |
|
(d) long-term provisions |
0.910 |
0.820 |
0.000 |
|
Total Non-current
Liabilities (3) |
26.238 |
127.688 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
83.904 |
87.854 |
0.000 |
|
(b) Trade payables |
42.538 |
1.854 |
0.000 |
|
(c) Other current
liabilities |
1.251 |
0.322 |
0.000 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
127.693 |
90.030 |
0.000 |
|
|
|
|
|
|
TOTAL |
177.649 |
239.324 |
0.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.194 |
0.061 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.009 |
0.012 |
0.015 |
|
Total Non-Current Assets |
0.203 |
0.073 |
0.015 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
128.587 |
106.390 |
0.000 |
|
(c) Trade receivables |
44.005 |
15.777 |
0.000 |
|
(d) Cash and cash
equivalents |
4.691 |
4.170 |
0.085 |
|
(e) Short-term loans and
advances |
0.000 |
104.485 |
0.000 |
|
(f) Other current assets |
0.163 |
8.429 |
0.000 |
|
Total Current Assets |
177.446 |
239.251 |
0.085 |
|
|
|
|
|
|
TOTAL |
177.649 |
239.324 |
0.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES TURNOVER |
|
2400.000
(Approximately) |
1729.600
(Approximately) |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
3.057 |
2.442 |
|
|
|
|
|
|
|
Less |
TAX |
|
0.945 |
0.836 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
2.112 |
1.606 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
1.056 |
0.803 |
Expected Sales (2014-2015) : Rs. 2000.000 Million
The above information has been parted by Mr. Sandeep Agrahari
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.72 |
1.02 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.11 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.54 |
4.07 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
2.66 |
NA |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.100 |
20.000 |
20.000 |
|
Reserves & Surplus |
0.000 |
1.606 |
3.718 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
0.100 |
21.606 |
23.718 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
87.854 |
83.904 |
|
Total borrowings |
0.000 |
87.854 |
83.904 |
|
Debt/Equity ratio |
0.000 |
4.066 |
3.538 |
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 |
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) |
No |
|
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
NOTE: Registered office of the company has been shifted from B-9, Ekta Appt, L.B.S. Marg, Mulund (West), Mumbai – 400080, Maharashtra, India to the present address w.e.f. 01.09.2013
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10400810 |
24/12/2012 |
95,000,000.00 |
PUNJAB NATIONAL BANK |
JAY APARTMENTS , LINKING ROAD, SANTACRUZ (WEST), MUMBAI, Maharashtra - 400054, INDIA |
B67182501 |
* Date of charge modification
FIXED ASSETS
- Office equipment
- Computer Equipments
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. 63.76 |
|
|
1 |
Rs. 97.80 |
|
Euro |
1 |
Rs. 69.91 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.