MIRA INFORM REPORT
|
Report No. : |
343435 |
|
Report Date : |
03.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KAPILA COLOURS PRIVATE LIMITED |
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|
|
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Registered
Office : |
2174, Tilak Bazar, Khari Baoli, Delhi – 110006 |
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Tel. No.: |
91-11-23978492 |
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Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
13.07.1990 |
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Com. Reg. No.: |
55-040815 |
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Capital
Investment / Paid-up Capital : |
Rs.0.870 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1990PTC040815 |
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|
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IEC No.: |
0592060560 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACK0246P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Supplier and Importer of Textile dyes, pigments, textile
chemicals, allied. |
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No. of Employees
: |
10 (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 15500 |
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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 is an established company incorporated in the year 1990. For the financial year ended 2014, the company has above an average operational
activity and inclined its top line growth by 32%. However its profitability
margin stood at 0.7%. The rating is constrained on account of company’s moderate financial
base, stretched liquidity profiles and huge borrowings taken by the company. Trade relations are fair. Business is active. Payment 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 |
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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. Bhupendra Shah |
|
Designation : |
Director |
|
Contact No.: |
91-11-23978492 |
|
Date : |
01.10.2015 |
LOCATIONS
|
Registered Office : |
2174, Tilak Bazar, Khari Baoli, Delhi – 110006, India |
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Tel. No.: |
91-11-23978492 |
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Fax No.: |
Not Available |
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E-Mail : |
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Branch Office : |
Located At:
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DIRECTORS
As on 28.09.2014
|
Name : |
Mr. Bhupendra S. Shah |
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Designation : |
Director |
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Address : |
10B-66, Rang Rasayan Apartment, Sector 13, Rohni, New Delhi - 110085, India |
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Date of Birth/Age : |
05.12.1956 |
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Date of Appointment : |
16.07.1990 |
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DIN No.: |
00326351 |
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Other Directorship :
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Name : |
Mr. Pradeep S. Shah |
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Designation : |
Director |
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Address : |
10B/67, Rang Rangsayan Apartment, Sector 13, Rohni, New Delhi - 110085, India |
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Date of Birth/Age : |
22.09.1960 |
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Date of Appointment : |
16.07.1990 |
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DIN No.: |
00326410 |
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Other Directorship :
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Name : |
Mr. Nitin S. Shah |
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Designation : |
Director |
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Address : |
1B-08, Rang Rasayan Apartment, Sector 13, Rohni, New Delhi - 110085, India |
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Date of Birth/Age : |
12.11.1958 |
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Date of Appointment : |
16.07.1990 |
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DIN No.: |
00326454 |
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Other Directorship :
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Name : |
Mr. Karan Shah |
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Designation : |
Additional Director |
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Address : |
10B-67, Rang Rasayan Apartment, Rohni, Sector 13, Delhi - 110085, India |
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Date of Appointment : |
30.03.2015 |
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DIN No.: |
07143047 |
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Name : |
Meghal B. Shah |
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Designation : |
Additional Director |
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Address : |
B-10/66 Rang Rasyan Apartment, Rohini, Sector 13, Delhi - 110085, India |
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Date of Appointment : |
30.03.2015 |
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DIN No.: |
07143327 |
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Name : |
Mr. Dhawal Shah |
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Designation : |
Additional Director |
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Address : |
B-10/66, Rang Rasayan Apartment, Rohini, Sector -13, Delhi - 110085, India |
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Date of Appointment : |
01.04.2015 |
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DIN No.: |
07147252 |
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MAJOR SHAREHOLDERS
As on 28.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bhupendra S. Shah |
|
60 |
|
Nitin S. Shah |
|
60 |
|
Pradeep S. Shah |
|
60 |
|
Rajnibala S. Shah |
|
1620 |
|
Nayan S. Shah |
|
80 |
|
Sanjay S. Shah |
|
100 |
|
Ketki P. Shah |
|
1200 |
|
Devangi N. Shah |
|
300 |
|
Smita B. Shah |
|
300 |
|
Reshma S. Shah |
|
300 |
|
Preeti N. Shah |
|
20 |
|
Dhawal B. Shah |
|
900 |
|
Nayan S. Shah (HUF) |
|
500 |
|
Sanjay S. Shah (HUF) |
|
500 |
|
Sureshbhai C. Shah (HUF) |
|
1800 |
|
Nitin S. Shah (HUF) |
|
900 |
|
Total |
|
8700 |
As on 28.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Supplier and Importer of Textile dyes, pigments, textile
chemicals, allied. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Credit (60 Days) |
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Purchasing : |
Credit (60 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
10 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Sandeep Bhatnagar Chartered Accountant |
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Address : |
Flat No.12, 2 Floor, Sheel Tara House, 4866/24, Ansari Road,
Daryaganj, New Delhi – 110002, India |
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PAN No.: |
AACPB3468K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties
where control exists and related parties with whom transactions have taken
place and relationships : |
S B Shah and Company Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000 |
Equity Shares |
Rs.100/- each |
Rs.1.500 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8700 |
Equity Shares |
Rs.100/-
each |
Rs.0.870
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 |
0.870 |
0.870 |
0.870 |
|
(b) Reserves &
Surplus |
4.555 |
3.671 |
3.091 |
|
(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) |
5.425 |
4.541 |
3.961 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1.219 |
1.702 |
0.504 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1.219 |
1.702 |
0.504 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
36.197 |
31.866 |
29.039 |
|
(b) Trade payables |
21.255 |
12.474 |
7.942 |
|
(c) Other current
liabilities |
2.467 |
1.524 |
0.598 |
|
(d) Short-term provisions |
0.433 |
0.239 |
0.218 |
|
Total Current Liabilities
(4) |
60.352 |
46.103 |
37.797 |
|
|
|
|
|
|
TOTAL |
66.996 |
52.346 |
42.262 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.648 |
4.208 |
3.031 |
|
(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) |
0.109 |
0.081 |
0.110 |
|
(d) Long-term Loan and Advances |
2.575 |
2.371 |
1.551 |
|
(e) Other Non-current
assets |
0.284 |
0.265 |
0.250 |
|
Total Non-Current Assets |
6.616 |
6.925 |
4.942 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
24.528 |
17.018 |
15.783 |
|
(c) Trade receivables |
32.683 |
27.024 |
20.692 |
|
(d) Cash and cash
equivalents |
2.592 |
1.111 |
0.608 |
|
(e) Short-term loans and
advances |
0.577 |
0.268 |
0.237 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
60.380 |
45.421 |
37.320 |
|
|
|
|
|
|
TOTAL |
66.996 |
52.346 |
42.262 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
125.139 |
94.264 |
68.448 |
|
|
Other Income |
0.298 |
0.242 |
0.181 |
|
|
TOTAL |
125.437 |
94.506 |
68.629 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
115.278 |
81.945 |
57.556 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.509) |
(1.234) |
1.562 |
|
|
Employees benefits
expense |
4.406 |
3.997 |
3.389 |
|
|
Other expenses |
4.759 |
3.329 |
1.084 |
|
|
TOTAL |
116.934 |
88.037 |
63.591 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
8.503 |
6.469 |
5.038 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
6.505 |
5.176 |
3.882 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
1.998 |
1.293 |
1.156 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.711 |
0.448 |
0.508 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.287 |
0.845 |
0.648 |
|
|
|
|
|
|
|
Less |
TAX |
0.405 |
0.266 |
0.208 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.882 |
0.579 |
0.440 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
19.422 |
11.875 |
10.620 |
|
|
TOTAL IMPORTS |
19.422 |
11.875 |
10.620 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
101.37 |
66.55 |
50.57 |
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 |
|
Net cash flows from operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.70 |
0.61 |
0.64 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
6.79 |
6.86 |
7.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.92 |
1.62 |
1.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.19 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.90 |
7.39 |
7.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
0.99 |
0.99 |
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 |
0.870 |
0.870 |
0.870 |
|
Reserves & Surplus |
3.091 |
3.671 |
4.555 |
|
Net worth |
3.961 |
4.541 |
5.425 |
|
|
|
|
|
|
long-term borrowings |
0.504 |
1.702 |
1.219 |
|
Short term borrowings |
29.039 |
31.866 |
36.197 |
|
Total borrowings |
29.543 |
33.568 |
37.416 |
|
Debt/Equity ratio |
7.458 |
7.392 |
6.897 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
68.448 |
94.264 |
125.139 |
|
|
|
37.716 |
32.754 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
68.448 |
94.264 |
125.139 |
|
Profit |
0.440 |
0.579 |
0.882 |
|
|
0.64% |
0.61% |
0.70% |
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) |
Yes |
|
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 |
No |
|
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 three 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 |
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 |
CORPORATE INFORMATION
Subject is Private Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. It shares are not listed in any Stock Exchange in India. The Company is engaged in the Trading of Dyes and Chemicals.
RESULTS OF OPERATIONS
During the year, Company made a total turnover of Rs.125.139 Million as compare to Rs.94.264 Million in the previous year. Although the company is on progressive lines, it is still below the expectation but the directors are hopeful to improve more in future. Further, no material changes have occurred from the date of the Balance Sheet till the date of this report, which have any adverse effect on the affairs of the company.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Vehicle Loans |
1.219 |
1.702 |
|
SHORT TERM
BORROWING |
|
|
|
From Directors |
7.294 |
6.023 |
|
From Others |
28.903 |
25.843 |
|
Total |
37.416 |
33.568 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Air Conditioner
- Building
- Fire Instrument
- Mobile and Phones
- Office Equipment
- Furniture and Fixture
- Computer
- Land
- Electrical Fans and Fitting
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 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.65.55 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--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 |
|
30 |
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.