MIRA INFORM REPORT
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Report No. : |
347884 |
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Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEKI PROJECTS AND INFRASTRUCTURE PRIVATE LIMITED |
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Registered
Office : |
111, A Wing, Boomerang, Near Chandivali Studio, Chandivali Farm Road,
Andheri East, Mumbai - 400072, Maharashtra |
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Tel. No.: |
91-22-28576991/92 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
13.06.2012 |
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Com. Reg. No.: |
11-232105 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U74999MH2012PTC232105 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction and
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Stainless Steel |
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No. of Employees
: |
30 (Approximately) |
RATING and COMMENTS
|
MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2012 and it has commenced it
business activities from March 2014. Ms. Kirti, Accountant of the company has provided information us. Financial year 2014 the sales turnover is Rs. 4.202 million and net
profit is Rs. 0.219 Million along with small net worth position and moderate
financial risk profile. However, trade relations are fair. Business is active. Payments are
slow but correct. In view of aforesaid, the company can be considered for business
dealing with some cautions. Note: The financials for the year ended 31st March 2015 provided by the management has not been stamped and signed by the statutory authorities, which is provided for your mere reference. |
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Kirti |
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Designation : |
Accountant |
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Contact No.: |
91-22-28576991 |
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Date : |
31.10.2015 |
LOCATIONS
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Registered Office : |
111, A Wing, Boomerang, Near Chandivali Studio, Chandivali Farm Road,
Andheri East, Mumbai - 400072, Maharashtra, India |
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Tel. No.: |
91-22-28576991/92 |
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Mobile No.: |
Not Available |
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Fax No.: |
91-22-28472037 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Warehouse : |
Locate at
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DIRECTORS
AS ON 31.03.2015
|
Name : |
Mrs. Chetna Jagdish Mistry |
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Designation : |
Director |
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Address : |
182/1c, Kalpatru Estate, J. V. Link Road,, Nr. Majas Bus Depot, Jogeshwari East, Mumbai - 400093, Maharashtra, India |
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Date of Appointment : |
13.06.2012 |
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DIN No.: |
05007319 |
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Other Directorship :
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Name : |
Mr. Sohil Jagdish Mistry |
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Designation : |
Director |
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Address : |
Flat No 181-182, Kalpataru Estate, Bldg. No. 1c, Jogeshwari Vikhroli Link Road, Andheri East, Mumbai - 400093, Maharashtra, India |
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Date of Appointment : |
13.06.2012 |
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DIN No.: |
05255226
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Kirti |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
|
Sohil Jagdish Mistry |
|
4900 |
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Chetna Jagdish Mistry |
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5100 |
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Total |
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10000 |
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Stainless Steel |
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Products : |
Stainless Steel |
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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 Available |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Auditors : |
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Name : |
Narendra Patel and Associates Chartered Accountants |
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Address : |
8/A, Sagar Apartment, Old Nagardas Road, Andheri - East., Mumbai –
400069, Maharashtra, India |
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E-Mail : |
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PAN No. of
Auditors Firm: |
AAJPP7002L |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Sister concern : |
Neki Concept LLP |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
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Issued, Subscribed and Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
|
0.100 |
0.100 |
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(b) Reserves and Surplus |
|
1.487 |
0.175 |
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(c) Money
received against share warrants |
|
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
1.587 |
0.275 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
|
1.543 |
0.051 |
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(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
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(c) Other long term
liabilities |
|
0.000 |
0.000 |
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(d) long-term
provisions |
|
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
|
1.543 |
0.051 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
|
0.000 |
0.035 |
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(b) Trade
payables |
|
28.732 |
0.714 |
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(c) Other
current liabilities |
|
0.266 |
0.000 |
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(d) Short-term
provisions |
|
3.818 |
0.166 |
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Total Current
Liabilities (4) |
|
32.816 |
0.915 |
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TOTAL |
|
35.946 |
1.241 |
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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 |
|
0.039 |
0.000 |
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(ii)
Intangible Assets |
|
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
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(iv)
Intangible assets under development |
|
0.000 |
0.000 |
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(b) Non-current Investments |
|
0.590 |
0.000 |
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(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
|
6.254 |
0.000 |
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(e) Other
Non-current assets |
|
0.019 |
0.019 |
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Total Non-Current
Assets |
|
6.902 |
0.019 |
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(2)
Current assets |
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(a)
Current investments |
|
0.000 |
0.000 |
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(b)
Inventories |
|
7.193 |
0.062 |
|
(c) Trade receivables |
|
17.265 |
0.562 |
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(d) Cash
and cash equivalents |
|
3.924 |
0.574 |
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(e)
Short-term loans and advances |
|
0.000 |
0.000 |
|
(f) Other
current assets |
|
0.662 |
0.024 |
|
Total
Current Assets |
|
29.044 |
1.222 |
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TOTAL |
|
35.946 |
1.241 |
PROFIT
and LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
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SALES |
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Income |
90.372 |
4.203 |
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Other Income |
1.499 |
0.000 |
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TOTAL SALES |
91.871 |
4.203 |
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|||
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Less |
EXPENSES |
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Cost of Materials
Consumed |
69.196 |
3.861 |
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Purchases of
Stock-in-Trade |
0.000 |
0.000 |
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Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
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Employees benefits expense |
5.152 |
0.000 |
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Other expenses |
16.170 |
0.116 |
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TOTAL EXPENSES |
90.518 |
3.977 |
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1.353 |
0.226 |
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|
Less |
FINANCIAL EXPENSES |
0.040 |
0.001 |
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|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1.313 |
0.225 |
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|
Less |
DEPRECIATION/
AMORTISATION |
0.001 |
0.005 |
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|
PROFIT/ (LOSS) BEFORE TAX |
1.312 |
0.220 |
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Less |
TAX |
0.000 |
0.000 |
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PROFIT/ (LOSS) AFTER TAX
|
1.312 |
0.220 |
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EARNINGS / (LOSS) PER
SHARE (RS.) |
13.12 |
2.20 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Cash generated from (Used) operations |
|
NA |
NA |
|
Cash generated from Operating Activities |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2015 |
31.03.2014 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
1.45 |
5.23 |
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Operating Profit Margin (PBIDT/Sales) |
(%) |
|
1.50 |
5.38 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.71 |
17.73 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.83 |
0.80 |
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|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.97 |
0.31 |
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Current Ratio (Current Asset/Current Liability) |
|
|
0.89 |
1.34 |
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 |
|
0.100 |
0.100 |
|
Reserves and Surplus |
|
0.175 |
1.487 |
|
Money received against share warrants |
|
0.000 |
0.000 |
|
Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Net
worth |
|
0.275 |
1.587 |
|
|
|
|
|
|
long-term borrowings |
|
0.051 |
1.543 |
|
Short term borrowings |
|
0.035 |
0.000 |
|
Current Maturities of Long term debt |
|
0.000 |
0.000 |
|
Total
borrowings |
|
0.086 |
1.543 |
|
Debt/Equity
ratio |
|
0.313 |
0.972 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2014 |
31.03.2015 |
|
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
|
4.203 |
90.372 |
|
|
|
-- |
2,050.178 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2014 |
31.03.2015 |
|
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales
|
|
4.203 |
90.372 |
|
Profit |
|
0.220 |
1.312 |
|
|
|
5.23% |
1.45% |
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 |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
No |
|
29 |
Profitability for last two 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 |
Note: Registered office of the company is shifted from 103/104, 1st Floor, Sharaton Heights, Charatsingh Road, Off Andheri Kurla Road, Chakala, Andheri (East), Mumbai - 400093, Maharashtra, India To Present Address w.e.f. 15.11.2013.
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10590665 |
24/07/2015 |
20,000,000.00 |
DEUTSCHE
BANK AG |
Sidrah,
110 Swami Vivekanand Road, Khar(W), MUMBAI, Maharashtra - 400052, INDIA |
C63677017 |
FIXED ASSETS
- Land and Building
- Furniture’s and Fixtures
- Office Equipment
- Computer
- Vehicles
CMT REPORT (Corruption, Money Laundering and 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. 65.48 |
|
|
1 |
Rs. 101.06 |
|
Euro |
1 |
Rs. 72.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KSP |
|
|
|
|
Report Prepared
by : |
SYL |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
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 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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 and 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.