MIRA
INFORM REPORT
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Report No. : |
345764 |
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Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
VEEKAY VIKRAM AND CO. LLP |
|
|
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Registered
Office : |
D/102, First Floor, Shivalik Business Centre, |
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Tel. No.: |
91-79-40506111 |
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Country : |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.08.2012 |
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|
|
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Total Obligation
of Contribution: |
Rs. 0.300 Million |
|
|
|
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LLPIN : |
AAB-0542 |
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IEC No.: |
Not Available |
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|
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TIN No.: |
Not Available |
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|
|
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TAN No.: [Tax Deduction & Collection
Account No.] |
AHMV00401C |
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|
|
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PAN No.: [Permanent Account No.] |
AABFV5098C |
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|
|
Legal Form : |
Limited Liability Partnership |
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Line of Business
: |
Manufacturer of Pipeline engineering and Polyurethane products. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 : |
Veekay Vikram and Co, established as a proprietorship concern in the year 1969 and later it reconstituted as a partnership firm in 1990 with the current name “Veekay Vikram and Co LLP". For 2013-14 (refers to financial year, April 1 to March 31), VKVC reported a net profit of Rs. 35.700 million on sales of Rs. 383.170 million, against a net profit of Rs. 22.600 million on sales of Rs. 294.300 million for 2012-13. The ratings reflect the extensive experience of the promoters in providing pipeline engineering and pigging services to the oil and gas industry, the firm's established relationships with customers along with a diversified revenue mix. The rating is constrained by the unavailability of financial to evaluate the risk associated with the subject LLP. However, trade relations seems to fair. Business is active. Payment terms are reported to be slow but correct. In view of aforesaid, the subject can be considered for business dealings with some cautions. Note:- The partial financials information is taken from indirect source i.e. CRISIL |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term bank facilities: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
May 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term bank facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
May 2015 |
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 : |
Ms. Aarti C K |
|
Designation : |
Export Import Manager |
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Contact No.: |
91-9879208943 |
|
Date : |
16.10.2015 |
LOCATIONS
|
Registered Office : |
D/102, First Floor, Shivalik Business Centre, S.G. Highway, Behind
Rajpath Club, Bodakdev, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-40506111 |
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Mobile No.: |
91-9879208943 (Ms. Aarti C K) |
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Fax No.: |
91-79-40506110 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality:: |
Commercial |
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|
|
|
Factory : |
C-1/3322/1, Phase – IV, GIDC Chhatral – 382729, Gujarat, India |
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Tel. No.: |
91-2764-233158 |
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Fax No.: |
91-2764-234158 |
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E-Mail : |
|
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Location: |
Owned |
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Office Address: |
VKVC House, D Shivalik Business Center, Rajpath Club, X-Road S. G.
Highway, Ahmedabad – 380054, Gujarat, India |
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Tel. No.: |
91-79-40506111 |
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E-Mail : |
PARTNERS
|
Name : |
Mr. Vineet Devraj Sood |
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Designation : |
Designated Partner |
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Address : |
Bunglow -5, Someshwara Complex -1,, Satellite Road,
Ahmedabad - 380015, Gujarat, India |
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Date of Birth/Age : |
04.10.1974 |
|
Date of Appointment : |
07.08.2012 |
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DPIN No.: |
00997337 |
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PAN No.: |
AMEPS2953E |
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|
|
|
Name : |
Mr. Vikram Vineet Sood |
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Designation : |
Designated Partner |
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Address : |
5 Someshwar Complex, Near Shyamal Raw House, 132ft Ring Road,
Ahmedabad - 380015, Gujarat, India |
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Date of Birth/Age : |
20.01.1965 |
|
Date of Appointment : |
23.12.2014 |
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DPIN No.: |
02910161 |
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PAN No.: |
ACLPS2707P |
|
|
|
|
Name : |
Mr. Viraen Vineet Sood |
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Designation : |
Designated Partner |
|
Address : |
5 Someshwar Complex, Near Shyamal Raw House, 132ft Ring
Road, Ahmedabad - 380015, Gujarat, India |
|
Date of Appointment : |
07.08.2012 |
|
DPIN No.: |
02910210 |
KEY EXECUTIVES
|
Name : |
Ms. Aarti C K |
|
Designation : |
Export Import Manager |
CONTRIBUTION DETAILS
|
Names of Partners |
|
Rs. In Million |
|
Vineet Devraj Sood |
|
17.500 |
|
Viraen Vineet Sood |
|
17.500 |
|
Vikram Vineet Sood |
|
17.500 |
|
Kamlesh Vineetbhai Sood |
|
17.500 |
|
Total |
|
70.000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pipeline engineering and Polyurethane products. |
|
|
|
|
Products : |
·
Pipeline engineering ·
Polyurethane products |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Gulf Countries ·
Middle East ·
South Africa |
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
·
China ·
Australia |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Auditors : |
Not Divulged |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
-- |
CAPITAL STRUCTURE
|
Total Obligation
of Contribution |
Rs. 0.300
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Sales |
|
383.170 |
294.300 |
|
|
|
|
|
|
Net profit |
|
35.700 |
22.600 |
NOTE: The partial financials information is taken from indirect source i.e. CRISIL
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
294.300 |
383.170 |
|
|
|
30.197 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
294.300 |
383.170 |
|
Profit |
22.600 |
35.700 |
|
|
7.68% |
9.32% |
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 |
No |
|
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 |
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 |
Yes |
|
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
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED
|
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10533982 |
18/11/2014 |
10,570,000.00 |
UNION BANK OF INDIA, JODHPUR TEKRA BRANCH |
ASHIRWAD, MOTIPARK SOCIETY, SATELLITE ROAD, JODHPU |
L02098465 |
|
2 |
10533986 |
20/10/2014 |
9,570,000.00 |
UNION BANK OF INDIA, JODHPUR TEKRA BRANCH |
ASHIRWAD, MOTI PARK SOCIETY,,SATELLITE ROAD,, JOD |
L02098572 |
|
3 |
10535215 |
20/10/2014 |
1,000,000.00 |
UNION BANK OF INDIA, JODHPUR TEKRA BRANCH |
ASHIRWAD, MOTI PARK SOCIETY,,SATELLITE ROAD,, JOD |
L02122372 |
|
4 |
10489320 |
30/03/2013 |
55,000,000.00 |
UNION BANK OF INDIA |
ASHIRWAD, MOTI PARK SOCIETY, SATELLITE ROAD, AHME |
L01368307 |
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.64.82 |
|
UK Pound |
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.