MIRA INFORM REPORT

 

 

Report No. :

345178

Report Date :

14.10.2015

 

IDENTIFICATION DETAILS

 

Name :

KGN ENTERPRISES

 

 

Registered Office :

626, Sadashiv Peth, Opposite Bizziland, Pune – 411030, Maharashtra

Mob. No.:

91-9820023294 (Mr. Anis Punjabi)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Year of Establishment :

2007

 

 

Capital Investment :

Rs. 17.667 Million

 

 

IEC No.:

3107005100

 

 

PAN No.:

[Permanent Account No.]

AJBPP7043C

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Trader and Importer of Spices and Dates.

 

 

No. of Employees :

12 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

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 proprietorship concern established in the year 2007. It has a satisfactory track.

 

The ratings takes into consideration adequate newtworth base and comfortable gearing of the concern which is leading to sound financial risk profile.

 

However, there has been reported continues decrease in its sales turnover since last few couple of years. Further, profit margin also reported to be low.

 

However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In view of aforesaid, the concern can be considered for business dealings with 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

 

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. Anis Punjabi

Designation :

Proprietor

Contact No.:

91-9820023294

Date :

13.10.2015

 

 

LOCATIONS

 

Registered Office :

626, Sadashiv Peth, Opposite Bizziland, Pune – 411030, Maharashtra, India

Tel. No.:

Not Available

Mobile No.:

91-9820023294 (Mr. Anis Punjabi)

Fax No.:

Not Available

E-Mail :

anispunjabi@gmail.com

Area :

2800 sq. ft.

Location:

Owned

Locality:

Commercial

 

 

Administrative Office :

Shop No. 67, E Kalinidi Building, Opposite Central Facility, APMC, Sector – 19, Vashi, Navi Mumbai – 400705, Maharashtra, India

Tel. No. :

91-22-27800690/ 1/ 2/ 3

Area :

2000 sq.ft.

Location:

Owned

 

 

Warehouses :

·         MIDC, Turbe, Vashi, Navi Mumbai, Maharashtra, India (3 Warehouses)

Location:

Rented

 

 

SOLE PROPRIETOR

 

Name :

Mr. Anis Punjabi

Designation :

Proprietor

Address :

Flat No. B-601, Plot 20, Sector-02, Sai Swar, Jharghar, Near Little World Mall, Navi Mumbai – 410210, Maharashtra, India

Date of Birth/Age :

15.07.1977

Qualification :

Graduate

Experience :

20 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Spices and Dates.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

 

Products :

Spices and Dates

Countries :

·         Iran

·         Dubai

·         Vietnam

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Pioneer International - Dubai

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:

Alsafa International – Mumbai Maharashtra, India 

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 :

12 (Approximately)

 

 

Bankers :

Bank Name:

HDFC Bank Limited

Branch:

APMC, Vashi, Navi Mumbai, Maharashtra, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

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

 

 

Auditors :

 

Name :

Umrani and Company

Chartered Accountants

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Capital Investment :

 

Owned :

Rs. 17.667 Million

Borrowed :

--

Total :

Rs. 17.667 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

Expected Sales (2015-2016) : Rs. 600.000 Million

 

The above information has been parted by Mr. Anis Punjabi (Proprietor).

 

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

SHAREHOLDERS FUNDS

 

 

 

1] Capital Account

17.667

8.253

7.239

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

17.667

8.253

7.239

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

15.526

12.023

11.424

TOTAL BORROWING

15.526

12.023

11.424

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

33.193

20.276

18.663

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.000

0.000

0.001

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
52.221

24.600

44.443

 

Sundry Debtors
65.005

89.744

69.115

 

Cash & Bank Balances
4.359

11.474

8.724

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
3.550

4.162

4.150

Total Current Assets
125.135

129.980

126.432

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
90.529

109.323

106.704

 

Other Current Liabilities
0.000

0.000

0.000

 

Provisions
1.413

0.381

1.065

Total Current Liabilities
91.942

109.704

107.769

Net Current Assets
33.193

20.276

18.663

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL
33.193

20.276

18.663

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

494.556

530.444

1076.370

 

 

Other Income

0.452

1.139

3.092

 

 

TOTAL                                    

495.008

531.583

1079.462

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

348.530

409.237

951.582

 

 

Direct Expenses

137.215

113.257

116.490

 

 

Administrative Expenses

7.795

8.259

10.591

 

 

Auditor’s Remuneration

0.055

0.055

0.030

 

 

TOTAL                                    

493.595

530.808

1078.693

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

1.413

0.775

0.769

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.000

0.001

0.002

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1.413

0.774

0.767

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

0.29

0.15

0.07

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.13

0.60

0.61

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.08

0.09

0.11

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.88

1.46

1.58

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.16

1.07

1.06

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Capital Account

7.239

8.253

17.667

Reserves & Surplus

0.000

0.000

0.000

Net worth

7.239

8.253

17.667

 

 

 

 

Secured Loans

0.000

0.000

0.000

Unsecured Loans

11.424

12.023

15.526

Total borrowings

11.424

12.023

15.526

Debt/Equity ratio

1.578

1.457

0.879

 

 

 

 

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

1076.370

530.444

494.556

 

 

(50.719)

(6.766)

 

 

 

 

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

1076.370

530.444

494.556

Profit

0.767

0.774

1.413

 

0.07%

0.15%

0.29%

 

 

 

 

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

No

18

Major suppliers

Yes

19

Major customers

Yes

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

Yes

29

Profitability for last three 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.65.02

UK Pound

1

Rs.99.89

Euro

1

Rs.73.92

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

44

 

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.