MIRA INFORM REPORT

 

 

Report No. :

350415

Report Date :

17.11.2015

 

IDENTIFICATION DETAILS

 

Name :

SKILYTICS INDIA PRIVATE LIMITED (w.e.f. 26.03.2014)

 

 

Formerly Known As :

SAI VINYLS PRIVATE LIMITED

 

 

Registered Office :

28-GF Bhera Enclave, Paschim Vihar, New Delhi-110087

Tel. No.:

91-11-25476007

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.09.2007

 

 

Com. Reg. No.:

55-168712

 

 

Capital Investment / Paid-up Capital :

Rs. 0.300 Million

 

 

CIN No.:

[Company Identification No.]

U93000DL2007PTC168712

 

 

IEC No.:

0515050822

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELS56625C

 

 

 

PAN No.:

[Permanent Account No.]

AALCS2324M

 

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader of Footware Products such as Slippers, Chappal, Shoes, etc.

 

 

No. of Employees :

06 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 900

 

 

Status :

Small Company

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small company incorporated in the year 2007. The name of the company has been changed from SAI VINYLS PRIVATE LIMITED to SKILYTICS INDIA PRIVATE LIMITED with effect from 26th March 2014.

 

For the year 2014, the company has achieved minimal sales turnover and reported low profitability margin.

 

The company possesses small net worth base marked by low reserves and cash accruals which may act as a threat to the liquidity position of the company.

 

However, trade relations are fair. Business is active. Payments are slow but correct.

 

The company can be considered for business dealings 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

 

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 (GENERAL DETAILS)

 

Name :

Mr. Rakesh Bansal

Designation :

Accounts Manager

Contact No.:

91-9254174721

Date :

17.11.2015

 

 

 

LOCATIONS

 

Registered Office :

28-GF Bhera Enclave, Paschim Vihar, New Delhi-110087, India

Tel. No.:

91-11-25476007

Mobile No.:

91-9254174721 (Mr. Rakesh Bansal)

Fax No.:

Not Available

E-Mail :

skilyticsindia2007@yahoo.in

skilytics@gmail.com

lancerrakesh@gmail.com

Location :

Owned

Location :

Commercial cum Residential

 

 

Correspondence Address :

Plot No. 301, Sector-17, Footwear Park, HSIIDC, Bahadurgarh-124507, Haryana, India

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Satish Kumar Gupta

Designation :

Director

Address :

45 , Bhera Enclave, Paschim Vihar, New Delhi-110087, Delhi, India

Date of Birth/Age :

28.11.1968

Date of Appointment :

29.09.2014

DIN No.:

00766438

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1994PTC061602

NU FASHION FOOTWEAR PRIVATE LIMITED

Director

19/09/1994

19/09/1994

06/12/2014

Active

NO

2

U19200DL2010PTC198909

LANCER FOOTWEAR INDIA PRIVATE LIMITED

Director

10/02/2010

10/02/2010

-

Active

NO

3

U19201DL2011PTC223281

BAHADURGARH FOOTWEAR DEVELOPMENT SERVICES PRIVATE LIMITED

Director

04/08/2011

04/08/2011

-

Active

NO

4

U93000DL2007PTC168712

SKILYTICS INDIA PRIVATE LIMITED

Director

29/09/2014

28/06/2014

-

Active

NO

 

 

Name :

Mr. Sushil Sharma Kumar

Designation :

Director

Address :

200 CD Block, Pitam Pura, Delhi-110088, Delhi, India

Date of Birth/Age :

10.10.1956

Date of Appointment :

28.09.2013

DIN No.:

06446254

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U93000DL2007PTC168712

SKILYTICS INDIA PRIVATE LIMITED

Director

28/09/2013

10/12/2012

Active

NO

 

 

Name :

Mr. Vaibhav Gupta

Designation :

Director

Address :

23, Raghu Vihar, Durgapura, Ward No. 25, Jaipur-302018, Rajasthan, India

Date of Birth/Age :

23.06.1984

Date of Appointment :

29.09.2014

DIN No.:

06515766

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U72900RJ2013PTC041931

ARKLE CONSULTANCY PRIVATE LIMITED

Director

28/03/2013

28/03/2013

Active

NO

2

U93000DL2007PTC168712

SKILYTICS INDIA PRIVATE LIMITED

Director

29/09/2014

28/06/2014

Active

NO

3

U80302RJ2015PTC047668

COMITY EDUTECH SERVICES PRIVATE LIMITED

Director

05/06/2015

05/06/2015

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Rakesh Bansal

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

 

Atul Mittal

 

5000

Sunit Mittal

 

5000

Satish Kumar Gupta

 

5000

Reetu Gupta

 

5000

Lajwanti Devi

 

5000

Madhu Goel

 

5000

Total

 

30000

 

 

AS ON 29.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

66.67

Other top fifty shareholders

33.33

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Footware Products such as Slippers, Chappal, Shoes, etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

--

Countries :

--

 

 

Terms :

 

Selling :

Cheque

 

 

Purchasing :

Cheque

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

06 (Approximately)

 

 

Bankers :

Bank Name:

Axis Bank Limited

Branch:

Rajouri Garden, New Delhi, India

Person Name (with Designation):

Not Divulged

Contact Number:

91-11-25163114 (Ringing)

Name of Account Holder:

Not Divulged

Account Number:

914020036409778 (Not Confirmed)

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Gupta Jalan and Associates

Chartered Accountants

Address :

405, Crown Heights (Hotel Crown Plaza Complex), Twin District Centre, Sector- 10, Rohini, Delhi-110085, India

Tel. No.:

91-11-45610610/ 43043878

E-Mail :

rnjalan@gmail.com

Income-tax PAN of auditor or auditor's firm :

AAIPJ6981B

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Lancer Footware India Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500,000

Equity Shares

Rs. 10/- each

Rs. 5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30,000

Equity Shares

Rs. 10/- each

Rs. 0.300 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

0.300

0.100

(b) Reserves & Surplus

 

0.031

0.003

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.200

Total Shareholders’ Funds (1) + (2)

 

0.331

0.303

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

0.000

0.000

Total Non-current Liabilities (3)

 

0.000

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

0.000

0.000

(b) Trade payables

 

3.027

3.365

(c) Other current liabilities

 

0.031

0.036

(d) Short-term provisions

 

0.010

0.005

Total Current Liabilities (4)

 

3.068

3.406

 

 

 

 

TOTAL

 

3.399

3.709

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

0.000

0.000

(ii) Intangible Assets

 

0.000

0.000

(iii) Capital work-in-progress

 

0.000

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

0.000

0.000

(e) Other Non-current assets

 

0.041

0.068

Total Non-Current Assets

 

0.041

0.068

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

0.000

1.255

(c) Trade receivables

 

2.988

1.635

(d) Cash and cash equivalents

 

0.342

0.723

(e) Short-term loans and advances

 

0.000

0.000

(f) Other current assets

 

0.028

0.028

Total Current Assets

 

3.358

3.641

 

 

 

 

TOTAL

 

3.399

3.709

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

TOTAL                                    

 

42.193

26.827

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

 

42.156

26.798

 

 

 

 

 

 

PROFIT BEFORE TAX

 

0.037

0.029

 

 

 

 

 

Less

TAX                                                                 

 

0.009

0.006

 

 

 

 

 

 

PROFIT AFTER TAX

 

0.028

0.023

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

0.93

2.30

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

31.03.2014

31.03.2013

Current Maturities of Long term debt

 

NA

NA

 

 

 

 

Cash Generated from Operations

 

NA

NA

 

 

 

 

Net Cash Flow from used in Operations

 

NA

NA

 

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

 

31.03.2014

31.03.2013

Return on Total Assets

(PBT/Total Assets}

(%)
 

1.09

0.78

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

0.11

0.10

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
 

0.00

0.00

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.09

1.07

 

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Share Capital

0.100

0.300

Reserves & Surplus

0.003

0.031

Money received against share warrants

0.000

0.000

Share Application money pending allotment

0.200

0.000

Net worth

0.303

0.331

 

 

 

Long-term borrowings

0.000

0.000

Short term borrowings

0.000

0.000

Total borrowings

0.000

0.000

Debt/Equity ratio

0.000

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Total Income

26.827

42.193

 

 

57.278

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Total Income

26.827

42.193

Profit

0.023

0.028

 

0.09%

0.07%

 

 

 

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

Yes

18

Major suppliers

No

19

Major customers

No

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

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

 

 

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

 

PERFORMANCE REVIEW :

 

During the year, the company has earned a net profit after tax of Rs. 0.028 Million. The details of financial performance of the company are appearing in the Balance Sheet and Profit and Loss account for the year.

 

 

OPERATIONS AND FUTURE OUTLOOK:

 

The Company continues to take effective steps in broad-basing its range of activities, but the performance of the Company during the period has been satisfactory.

 

In the current year, the directors are putting up efforts and it is hoped that the company will do better in the current year. The outlook for the current year is also very bright and the directors are hopeful of doing a good business during the current year.

 

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 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. 66.17

UK Pound

1

Rs. 100.66

Euro

1

       Rs. 70.97

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

AMR

 

 

Report Prepared by :

IND

 

 

SCORE & 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

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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 & 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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.