MIRA INFORM REPORT
|
Report No. : |
348348 |
|
Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
RATANLAL RAVINDRA KUMAR |
|
|
|
|
Registered
Office : |
204, Maharishi Devendra Road, Kolkata - 700006, West Bengal |
|
Tel. No.: |
91-33-22597676 / 22590287 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Year of
Establishment : |
1983 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.943 Million |
|
|
|
|
IEC No.: |
0214011291 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADFR7373N |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Trader of all kind of edible oils, pulses, food grains etc. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a partnership concern established in the year 1983, having
satisfactory track. For the financial year 2015, the concern has achieved decent sales
turnover, however reported low profit margin. The concern has adequate capital base marked by favorable gap between
trade payables and receivables, but it has huge borrowings. Trade relations are fair. Business is active. Payments are slow but
correct. The concern 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.
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 |
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.
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. Saurav Daruka |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9830026728 |
|
Date : |
05.11.2015 |
LOCATIONS
|
Registered Office : |
204, Maharishi Devendra Road, Kolkata - 700006, West Bengal, India |
|
Tel. No.: |
91-33-22597676 / 22590287 |
|
Mobile No.: |
91-9830026728 (Mr. Saurav Daruka) |
|
Fax No.: |
91-33-22590287 |
|
E-Mail : |
|
|
Area : |
1400 Sq.ft. |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Pradip Kumar Daruka |
|
Designation : |
Partner |
|
Address : |
CF-133, Salt Lake city, Sector-1, Kolkata - 700064, West
Bengal, India |
|
Date of Birth/Age : |
52 Years |
|
Qualification : |
B.Com |
|
Experience : |
30 Years |
|
|
|
|
Name : |
Mr. Ravindra Kumar Daruka |
|
Designation : |
Partner |
|
Address : |
CF-133, Salt Lake city, Sector-1, Kolkata - 700064, West
Bengal, India |
|
Date of Birth/Age : |
54 Years |
|
Qualification : |
B.Com |
|
Experience : |
30 Years |
|
|
|
|
Name : |
Mrs. Usha Devi Daruka |
|
Designation : |
Partner |
|
Address : |
CF-133, Salt Lake city, Sector-1, Kolkata - 700064, West
Bengal, India |
|
Date of Birth/Age : |
53 Years |
|
Qualification : |
B.Com |
KEY EXECUTIVES
|
Name : |
Mr. Saurav Daruka |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Trader of all kind of edible oils, pulses, food grains etc. |
|
|
|
|
Products : |
Edible Oils, Pulses, Food Grains |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
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|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailer |
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||||||||||||||||||||||
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No. of Employees : |
10 (Approximately) |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
HDFC Bank Limited, Shree Arcade, 1st Floor, 2, Jogendra
Kaviraj Row, Kolkata – 700007, West Bengal, India Contact No.: 91-33-22598983
/ 22597999 |
|
Auditors : |
|
|
Name : |
K. Baldewa and Company Chartered Accountants |
|
Address : |
Kolkata, West Bengal, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Sumit Infra
Builders Private Limited Address : Surat, Gujarat, India Line of Business : Construction activity |
CAPITAL STRUCTURE
PARTNERS CAPITAL
ACCOUNT
AS ON 31.03.2015
|
Particulars |
Amount (Rs. In Million) |
Amount (Rs. In Million) |
|
Pradip Kumar Daruka |
|
|
|
Credit balance as per the last account |
1.268 |
|
|
Add: Introduced during the year |
1.787 |
|
|
Remuneration |
1.693 |
|
|
Interest |
0.283 |
|
|
Share of profit |
0.702 |
|
|
Income tax refund |
0.109 |
|
|
Total |
5.842 |
|
|
Less : Withdrawal during the year |
2.277 |
|
|
Income tax |
0.298 |
3.267 |
|
|
|
|
|
Ravindra Kumar Daruka |
|
|
|
Credit balance as per the last account |
1.489 |
|
|
Add: Introduced during the year |
1.360 |
|
|
Remuneration |
1.693 |
|
|
Interest |
0.702 |
|
|
Share of profit |
0.257 |
|
|
Income tax refund |
0.109 |
|
|
Total |
5.610 |
|
|
Less : Withdrawal during the year |
1.878 |
|
|
Income tax |
0.298 |
3.434 |
|
|
|
|
|
Usha Devi Daruka |
|
|
|
Credit balance as per the last account |
0.569 |
|
|
Add: Introduced during the year |
0.300 |
|
|
Remuneration |
0.000 |
|
|
Interest |
0.702 |
|
|
Share of profit |
0.105 |
|
|
Income tax refund |
0.109 |
|
|
Total |
1.785 |
|
|
Less : Withdrawal during the year |
0.246 |
|
|
Income tax |
0.297 |
1.242 |
|
|
|
|
|
Total |
|
7.943 |
FINANCIAL DATA
[all figures are
in Rupees Million]
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
|
1] Partner’s Capital Account |
7.943 |
3.327 |
2.219 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.943 |
3.327 |
2.219 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
26.395 |
17.704 |
16.555 |
|
|
TOTAL
BORROWING |
26.395 |
17.704 |
16.555 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.338 |
21.031 |
18.774 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.996 |
1.183 |
1.320 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.119 |
1.119 |
0.965 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
39.395 |
20.153 |
14.377 |
|
|
Cash & Bank Balances |
6.389 |
0.530 |
4.079 |
|
|
Other Current Assets |
0.027 |
0.027 |
0.027 |
|
|
Loans & Advances |
1.671 |
1.837 |
2.429 |
|
Total Current Assets |
47.482 |
22.547 |
20.912 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.042 |
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total Current Liabilities |
15.259 |
3.818 |
4.423 |
|
|
Net Current
Assets |
32.223 |
18.729 |
16.489 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.338 |
21.031 |
18.774 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
1380.985 |
|
|
Other Income |
|
|
1.340 |
|
|
TOTAL |
|
|
1382.325 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchase |
|
|
1369.364 |
|
|
Freight |
|
|
1.107 |
|
|
Rent |
|
|
0.007 |
|
|
Repair and maintenance |
|
|
0.001 |
|
|
Souda Settlement |
|
|
0.402 |
|
|
Salary and Bonus |
|
|
0.537 |
|
|
Advertisement Expenses |
|
|
0.003 |
|
|
Brokerage and Commission |
|
|
0.614 |
|
|
Conveyance Expenses |
|
|
0.043 |
|
|
Telephone Expense |
|
|
0.043 |
|
|
Membership, Subscription
And Donation |
|
|
0.052 |
|
|
Rates and Taxes |
|
|
0.013 |
|
|
Insurance Charges |
|
|
0.234 |
|
|
Bank Charges |
|
|
0.183 |
|
|
Printing and Stationery |
|
|
0.026 |
|
|
Postage and Stamp |
|
|
0.017 |
|
|
Electric Charge |
|
|
0.033 |
|
|
Legal Expense |
|
|
0.027 |
|
|
General Expense |
|
|
0.081 |
|
|
Internet Expense |
|
|
0.026 |
|
|
Staff Welfare |
|
|
0.004 |
|
|
Computer Expense |
|
|
0.065 |
|
|
Sundry Balance Written
Off |
|
|
0.012 |
|
|
Motor Car Expenses |
|
|
0.311 |
|
|
Interest to Partners |
|
|
0.645 |
|
|
Audit Fees |
|
|
0.025 |
|
|
Remuneration to Partners |
|
|
3.385 |
|
|
TOTAL |
|
|
1377.260 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
5.065 |
|
|
|
|
|
|
|
Less |
INTEREST |
|
|
2.772 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
|
2.293 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.186 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
2.107 |
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
Sales |
856.245 |
709.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.15 |
NA |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
0.37 |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.35 |
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.32 |
5.32 |
7.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.11 |
5.91 |
4.73 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Partner’s Capital Account |
2.219 |
3.327 |
7.943 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2.219 |
3.327 |
7.943 |
|
|
|
|
|
|
Secured Loans |
|
|
|
|
Unsecured Loans |
16.555 |
17.704 |
26.395 |
|
Total borrowings |
16.555 |
17.704 |
26.395 |
|
Debt/Equity ratio |
7.461 |
5.321 |
3.323 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
709.000 |
856.245 |
1380.985 |
|
|
|
20.768 |
61.284 |
NET PROFIT MARGIN
{{{{{ copy & paste table & graph here from excel sheet net
profit margin section }}}}}
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 |
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 one year |
Yes |
|
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 |
Yes |
|
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,
1] INFORMATION ON DESIGNATED
PARTY
No records 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.65.68 |
|
|
1 |
Rs.101.02 |
|
Euro |
1 |
Rs.71.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
AMRT |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
43 |
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.