MIRA INFORM REPORT
|
Report No. : |
347954 |
|
Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHOBHA MINERALS |
|
|
|
|
Registered
Office : |
765/1, Napier Town, Jabalpur - 482001, Madhya Pradesh |
|
Tel. No.: |
91-9425150894 (Mr. Nitin) |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
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|
|
|
Year of Establishment
: |
2005 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.156.199 Million |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TIN No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JBPS07382E |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABMFS5899N |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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|
|
|
Line of Business
: |
Subject is engaged into mining of iron |
|
|
|
|
No. of Employees
: |
64 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
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 |
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|
|
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Comments : |
Subject is an established partnerships concern started in the year
2005 having satisfactory track. Turnover and profit of the concern has declined during FY 2015. However,
profit margin of the concern is decent. General financial position of the
concern is sound. Trade relations are reported as fair. Business is active. Payment
terms are reported as slow but correct. The concern can considered normal 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 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Saurabh Nayak |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9993914363 |
|
Date : |
02.11.2015 |
LOCATIONS
|
Registered Office : |
765/1, Napier Town, Jabalpur - 482001, Madhya Pradesh, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9425150894 (Mr. Nitin) 91-9993914363 (Mr. Saurabh Nayak) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
Shop No.3, Bengali Club Market, Karamchand Chowk, Jabalpur – 482002,
Madhya Pradesh, India |
|
|
|
|
Mine Division : |
Qulan Gram, Ghosalpur, District Sehore, Jabalpur, Madhya Pradesh,
India |
PARTNERS
|
Name : |
Mr. Nitin Sharma |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Manish Kothari |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Ashish Bothra |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Saurabh Nayak |
|
Designation : |
Accounts Manager |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into mining of iron |
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|
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|
Products : |
Iron |
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|
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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 : |
Cash, L/C and Credit |
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|
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Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
64 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Rahul and Company Chartered Accountants |
|
Address : |
Near Shaskri Breeze, Jabalpur, Madhya Pradesh, India |
|
PAN No.: |
AAFFR0249D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
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|
|
|
Sister Concern : |
Sagar Stone
Industry Address: Jabalpur,
Madhya Pradesh, India |
CAPITAL STRUCTURE
As on 31.03.2015
Partner’s Capital
|
Particulars |
Ashish Bothra |
Manish Kothari |
Nitin Sharma |
Total |
|
PROFIT SHARING RATIO |
25% |
25% |
50% |
100% |
|
|
|
|
|
|
|
Opening Balance as on 01.04.2014 |
7.538 |
36.638 |
3.386 |
47.562 |
|
Add: Addition During the year |
27.204 |
25.300 |
29.282 |
81.786 |
|
Add: Salary to partners |
2.500 |
2.500 |
5.000 |
10.000 |
|
Add: Profit for 2014-2015 |
15.344 |
15.344 |
30.688 |
61.376 |
|
Less: Withdrawal/ Transfer |
2.248 |
0.100 |
42.127 |
44.475 |
|
Less: Life Insurance Policy |
0.000 |
0.050 |
0.000 |
0.050 |
|
Less: Income Tax (F.Y. 2014-2015) |
0.000 |
0.000 |
0.000 |
0.000 |
|
Less: Advance Tax (A.Y. 2014-2015) |
0.000 |
0.000 |
0.000 |
0.000 |
|
Closing Balance 31.03.2015 |
50.338 |
79.632 |
26.229 |
156.199 |
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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
156.199 |
47.562 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
156.199 |
47.562 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
8.855 |
6.753 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
8.855 |
6.753 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
165.054 |
54.315 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
9.050 |
10.097 |
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
Capital work-in-progress |
|
|
|
|
|
|
|
22.892 |
0.000 |
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
46.556 |
16.264 |
|
|
Sundry Debtors |
|
113.921 |
80.843 |
|
|
Cash & Bank Balances |
|
2.944 |
1.816 |
|
|
Other Current Assets |
|
0.000 |
0.004 |
|
|
Loans & Advances |
|
21.239 |
7.899 |
|
Total
Current Assets |
|
184.660 |
106.826 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
38.147 |
58.319 |
|
|
Other Current Liabilities |
|
10.134 |
0.000 |
|
|
Provisions |
|
3.267 |
4.289 |
|
Total
Current Liabilities |
|
51.548 |
62.608 |
|
|
Net Current Assets |
|
133.112 |
44.218 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
165.054 |
54.315 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
|
199.087 |
254.652 |
|
|
Other Income |
|
46.731 |
25.850 |
|
|
TOTAL |
|
245.818 |
280.502 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Audit Fees |
|
0.114 |
0.170 |
|
|
Accounting and Taxation Consultancy |
|
0.254 |
0.198 |
|
|
Bank Charges |
|
0.435 |
0.054 |
|
|
Miscellaneous Expenses |
|
0.082 |
0.023 |
|
|
Donation |
|
0.025 |
0.050 |
|
|
EPF |
|
0.074 |
0.100 |
|
|
Entry Tax |
|
0.095 |
0.071 |
|
|
Freight Expenses |
|
5.748 |
21.644 |
|
|
Loading and Unloading Charges |
|
3.348 |
2.563 |
|
|
Staff Welfare |
|
0.250 |
0.052 |
|
|
Tour and Travelling |
|
0.869 |
0.039 |
|
|
Salary |
|
3.314 |
1.776 |
|
|
Repair and Maintenance |
|
6.358 |
5.525 |
|
|
Royalty Expenses |
|
9.841 |
3.431 |
|
|
Machine and Dumper Rent |
|
17.481 |
10.199 |
|
|
Other Expenses |
|
124.756 |
150.266 |
|
|
TOTAL |
|
173.044 |
196.161 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
72.774 |
84.341 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.398 |
1.585 |
|
|
|
|
|
|
|
|
NET PROFIT |
|
71.376 |
82.756 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2015 |
31.03.2014 |
|
Net Profit Margin (PAT/Sales) |
(%) |
|
35.85 |
32.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
36.84 |
70.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.46 |
1.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.06 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.58 |
1.71 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Partner’s
Capital |
47.562 |
156.199 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Net worth |
47.562 |
156.199 |
|
|
|
|
|
Secured
Loans |
6.753 |
8.855 |
|
Unsecured
Loans |
0.000 |
0.000 |
|
Total borrowings |
6.753 |
8.855 |
|
Debt/Equity ratio |
0.142 |
0.057 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
254.652 |
199.087 |
|
|
-21.820 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
254.652 |
199.087 |
|
Profit |
82.756 |
71.376 |
|
|
32.50% |
35.85% |
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) |
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 |
Yes |
|
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 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 |
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.65.67 |
|
|
1 |
Rs.101.02 |
|
Euro |
1 |
Rs.71.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
-- PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
49 |
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.