MIRA INFORM REPORT
|
Report No. : |
325384 |
|
Report Date : |
30.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRADHVI MULTITRADE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Room No.12, Mata Ramdevi Niwas, N. S. Road, Mulund (West), Mumbai – 400080,
Maharashtra |
|
Mobile No.: |
91-9987784523 (Ms. Dipeeka Patel) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.02.2011 |
|
|
|
|
Com. Reg. No.: |
11-214077 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.20.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101MH2011PTC214077 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP33055B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCP9967N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Cotton Fabrics. |
|
|
|
|
No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
C (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track. The rating takes into consideration the delay in interest servicing on
the cash credit facility due to the stretched working capital profile of the
company. The rating also takes into consideration relatively low reserves and
low profitability of the company. However, business is active. Payment terms are reported to be slow but
correct. The company can be considered for business dealings on safe and secured
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 – 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 |
ICRA |
|
Rating |
Fund Based Cash Credit: D |
|
Rating Explanation |
Lowest Credit quality very low prospects of recovery. |
|
Date |
March, 2015 |
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 : |
Ms. Dipeeka Patel |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9987784523 |
|
Date : |
30.05.2015 |
LOCATIONS
|
Registered Office : |
Room No.12, Mata Ramdevi Niwas, N. S. Road, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9594965614 (Mr. Sandeep Pol) 91-9987784523 (Ms. Dipeeka Patel) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area: |
1000 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Kalathilal Ravindran |
|
Designation : |
Additional Director |
|
Address : |
A 204, Satyam Co-operative Housing Society Limited, Link Road, HESD
Post Office, Borivali (West), Mumbai – 400091, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1951 |
|
Date of Appointment : |
28.01.2013 |
|
DIN No.: |
05133368 |
|
|
|
|
Name : |
Mr. Rajpal Singh Gurdayal Singh Daudhar |
|
Designation : |
Additional Director |
|
Address : |
Gurunanak Co-operative Housing Society Limited, LBS Marg, Ghatkopar (West),
Mumbai – 400086, Maharashtra, India |
|
Date of Birth/Age : |
04.01.1968 |
|
Date of Appointment : |
03.12.2012 |
|
DIN No.: |
06448756 |
|
|
|
|
Name : |
Ms. Anita Sandeep Shriya |
|
Designation : |
Director |
|
Address : |
17, Jaldarshan, 51, Nepeansea Road,, Mumbai, 400026,
Maharashtra, India |
|
Date of Appointment : |
01.04.2015 |
|
DIN No.: |
06992663 |
KEY EXECUTIVES
|
Name : |
Ms. Dipeeka Patel |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Arti Kanodia |
100500 |
5.03 |
|
Ashish Kanodia |
100500 |
5.03 |
|
Ashish Kanodia (HUF) |
100500 |
5.03 |
|
Deokinandan Kanodia (HUF) |
100500 |
5.03 |
|
Green Financial Services Private Limited |
100500 |
5.03 |
|
Rachit Ashish Kanodia |
100500 |
5.03 |
|
Raghav Kanodia |
100500 |
5.03 |
|
Rajpal Singh |
1291500 |
64.58 |
|
Ravi Menon |
5000 |
0.25 |
|
Total |
2000000 |
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 : |
Trader of Cotton Fabrics. |
|
|
|
|
Products : |
Cotton Fabrics |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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Exports : |
Not Available |
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|
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Imports : |
Not Available |
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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
|
Suppliers : |
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Customers : |
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No. of Employees : |
5 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Hari Kumar Agarwal Chartered Accountants |
|
Address : |
8, Cosmos Tower, 1st Floor, Near Navneet Motors, L.B.S. Marg,
Thane (West), Thane – 400607, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AARPA9128N |
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|
|
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Memberships : |
-- |
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|
|
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Collaborators : |
-- |
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|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 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 |
|
|
|
|
(a) Share Capital |
20.000 |
20.000 |
0.100 |
|
(b) Reserves & Surplus |
2.622 |
0.638 |
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) |
22.622 |
20.638 |
0.100 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.010 |
0.005 |
0.000 |
|
(c) Other long term
liabilities |
50.460 |
56.225 |
0.000 |
|
(d) long-term provisions |
0.825 |
0.327 |
0.000 |
|
Total
Non-current Liabilities (3) |
51.295 |
56.557 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
99.724 |
100.079 |
0.000 |
|
(b) Trade payables |
63.929 |
0.000 |
0.000 |
|
(c) Other current liabilities |
1.047 |
0.030 |
0.002 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
164.700 |
100.109 |
0.002 |
|
|
|
|
|
|
TOTAL |
238.617 |
177.304 |
0.102 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.087 |
0.101 |
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 |
0.008 |
0.011 |
0.014 |
|
Total
Non-Current Assets |
0.095 |
0.112 |
0.014 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
172.435 |
130.066 |
0.000 |
|
(c) Trade receivables |
54.104 |
17.029 |
0.000 |
|
(d) Cash and cash equivalents |
5.296 |
13.490 |
0.088 |
|
(e) Short-term loans and
advances |
6.582 |
16.557 |
0.000 |
|
(f) Other current assets |
0.105 |
0.050 |
0.000 |
|
Total
Current Assets |
238.522 |
177.192 |
0.088 |
|
|
|
|
|
|
TOTAL |
238.617 |
177.304 |
0.102 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2380.000 (Approximately) |
742.040 |
0.000 |
|
|
Other Income |
NA |
0.000 |
0.000 |
|
|
TOTAL
(A) |
NA |
742.040 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
869.628 |
0.000 |
|
|
Changes in Inventory |
|
(130.066) |
0.000 |
|
|
Employee Benefits Expenses |
|
0.404 |
0.000 |
|
|
Other Expenses |
|
0.959 |
0.000 |
|
|
TOTAL
(B) |
NA |
740.925 |
0.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
1.115 |
0.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.134 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.981 |
0.000 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.011 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
2.872 |
0.970 |
0.000 |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.887 |
0.332 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
1.985 |
0.638 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.00 |
0.32 |
0.00 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
2500.000 |
The above information has been parted by Mr. Dipeeka Patel
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 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
0.09 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
0.15 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.20 |
0.55 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.05 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.41 |
4.85 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.77 |
44.00 |
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 |
0.100 |
20.000 |
20.000 |
|
Reserves & Surplus |
0.000 |
0.638 |
2.622 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
0.100 |
20.638 |
22.622 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
100.079 |
99.724 |
|
Total
borrowings |
0.000 |
100.079 |
99.724 |
|
Debt/Equity
ratio |
0.000 |
4.849 |
4.408 |
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) |
No |
|
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 |
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 four 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 |
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 304-Bhagirathi Cottage, M V Road, Andheri (East), Mumbai – 400069, Maharashtra, India to the present address w.e.f. 22.02.2013
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10428322 |
30/03/2013 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
82/5, JAY APARTMENT, LINKING ROAD, SANTACRUZ, MUM |
B75952952 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
Office Equipment
·
Vehicle
·
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, 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 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.63.76 |
|
UK Pound |
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
11 |
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.