MIRA INFORM REPORT
|
Report No. : |
344451 |
|
Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
GAZELLE ENTERPRISE |
|
|
|
|
Registered Office
: |
504/A, Sussex Industrial Estate, D K Cross Road, Byculla, Mumbai –
400027, Maharashtra |
|
Tel. No.: |
91-22-66578358 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Year of
establishment : |
1984 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.695 Million |
|
|
|
|
IEC No.: |
0395063515 |
|
|
|
|
TIN No.: |
27400017285 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADFG0283G |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Commercial printers and Tattoo printing
etc. |
|
|
|
|
No. of Employees
: |
19 (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 11000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having moderate track. It was established in the year 1984 and it is engaged in manufacturing and exporting of commercial printers and tattoo printing, etc. Mr. Nayani, (Finance Controller) has provided all information of the subject to us. The concern’s financial position seems to be weak due to below average profit margins reported during the year 2015 and has moderate financial risk profile marked by low capital position and leverage balance sheet profile of the concern. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The concern 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
|
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. Nayani |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-9833884223 |
|
Date : |
10.10.2015 |
LOCATIONS
|
Registered Office : |
504/A, Sussex Industrial Estate, D K Cross Road, Byculla, Mumbai –
400027, Maharashtra, India |
|
Tel. No.: |
91-22-66578358 |
|
Mobile No.: |
91-9833884223 (Mr. Nayani) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
750 Sq ft |
|
Location : |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Factory : |
11/16-A, Sussex Industrial Estate, D K Cross Road, Byculla, Mumbai –
400027, Maharashtra, India |
PARTNERS
|
Name : |
Mr. Riyaz Karim Merchant |
|
Designation : |
Partner |
|
Date of Birth / Age: |
27.02.1996 |
|
|
|
|
Name : |
Mr. Sajjad Merchant |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Karim Merchant |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Nayani |
|
Designation : |
Finance Controller |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Commercial printers and Tattoo printing
etc. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque and Credit |
|
|
|
|
Purchasing : |
Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
End users and OEMS
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
19 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Contrator Nayak and Kishnadwala Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Sister Concern : |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
|
Capital Investment : |
|
|
Owned : |
Rs. 3.695 Million |
|
Borrowed : |
-- |
|
Total : |
Rs. 3.695 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2015 |
31.03.2014 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
3.695 |
6.381 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
3.695 |
6.381 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
10.991 |
10.949 |
|
|
2] Unsecured Loans |
|
0.058 |
0.058 |
|
|
TOTAL BORROWING |
|
11.049 |
11.007 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
14.744 |
17.388 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.685 |
1.744 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.075 |
0.075 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
4.876 |
3.883 |
|
|
Sundry Debtors |
|
6.400 |
11.115 |
|
|
Cash & Bank Balances |
|
1.330 |
0.459 |
|
|
Other Current Assets |
|
5.039 |
5.039 |
|
|
Loans & Advances |
|
2.225 |
2.459 |
|
Total
Current Assets |
|
19.870
|
22.955
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
6.886 |
7.386 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
6.886
|
7.386
|
|
|
Net Current Assets |
|
12.984 |
15.569 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
14.744 |
17.388 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
|
27.337 |
30.764 |
|
|
Other Income |
|
0.378 |
0.039 |
|
|
TOTAL
(A) |
|
27.715 |
30.803 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Goods Sold |
|
22.215 |
25.611 |
|
|
Establishment Expenses |
|
3.358 |
3.551 |
|
|
Remuneration of partners |
|
0.200 |
0.292 |
|
|
TOTAL
(B) |
|
25.773 |
29.454 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
1.942 |
1.349 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.547 |
1.065 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.395 |
0.284 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.338 |
0.304 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
0.057 |
(0.020) |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
0.057 |
(0.020) |
Expected Sales (2015-2016) : Rs.35.000 Million
The above information has been parted by Mr. Nayani
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2015 |
31.03.2014 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
0.21 |
(0.07) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
7.10 |
4.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.26 |
-0.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.02 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
2.99 |
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.87 |
3.09 |
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 |
6.381 |
3.695 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Net
worth |
6.381 |
3.695 |
|
|
|
|
|
Secured Loans |
10.949 |
10.991 |
|
Unsecured Loans |
0.058 |
0.058 |
|
Total
borrowings |
11.007 |
11.049 |
|
Debt/Equity
ratio |
1.725 |
2.990 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
30.764 |
27.337 |
|
|
(11.140) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
30.764 |
27.337 |
|
Profit |
(0.020) |
0.057 |
|
|
(0.07%) |
0.21% |
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 |
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) |
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 |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
No |
|
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 |
Yes |
|
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, India Prisons Service,
Interpol, etc.
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.64.78 |
|
UK Pound |
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--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 |
YES |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.