MIRA INFORM REPORT

 

 

Report No. :

346244

Report Date :

24.10.2015

 

IDENTIFICATION DETAILS

 

Name :

PANKAJ METALS

 

 

Registered Office :

3/18, A.C. Market, Tardeo, Mumbai – 400034, Maharashtra

Tel. No.:

91-22-23522462

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Year of Establishment :

2005

 

 

Capital Investment :

Rs. 20.007 Million

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Partnership Concern with an Unlimited Liability of the Partners

 

 

Line of Business :

Trader, Exporter and Importer of Ferrous and Non-Ferrous Metals.

 

 

No. of Employees :

25 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established partnership concern having satisfactory track record.

 

Mr. Hiren Shah (Partner) has claimed that the sales turnover of the company has increased due to expansion in facilities.

 

Rating further takes consideration on concerns steady growth into its operational activity backed by comfortable debt protection metrics.

 

Rating is constrained on highly competitive nature of metal industry, foreign exchange fluctuation risk along with constitution of the entity as a partnership firm.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The concern can be considered normal for business dealings at 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. Hiren Shah

Designation :

Partner

Contact No.:

91-9867042863

Date :

21.10.2015

 

 

LOCATIONS

 

Registered Office :

3/18, A.C. Market, Tardeo, Mumbai – 400034, Maharashtra, India

Tel. No.:

91-22-23522462

Mobile No.:

91-9867042863 (Mr. Hiren Shah)

Fax No.:

Not Available

E-Mail :

info@pankaj.co.in

Website :

http://www.pankajmetals.com

Location :

Owned

 

 

Warehouse :

Dapoda Village, Bhiwandi, Maharashtra, India

 

 

Branch Office :

Akota Stadium, Near PE Office, Vadodara, Gujarat, India

 

 

PARTNERS

 

Name :

Mr. Hiren Shah

Designation :

Partner

 

 

Name :

Mr. Harakchand Shah

Designation :

Partner

 

 

Name :

Mr. Jayesh Shah

Designation :

Partner

 

 

Name :

Mr. Hitesh Shah

Designation :

Partner

 

 

BUSINESS DETAILS

 

Line of Business :

Trader, Exporter and Importer of Ferrous and Non-Ferrous Metals.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Ferrous and Non-Ferrous

Countries :

UK

 

 

Imports :

 

Products :

Raw Material

Countries :

Middle East Country

 

 

Terms :

 

Selling :

Advance Payment and L/C

 

 

Purchasing :

Advance Payment and L/C

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

Nimit Steels Alloys Private Limited

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 :

Company Name :

Pratibha Industries Limited

Name of the Person (Designation):

Mr. Vikas Katian

Contact Number:

91-22-39559999 (Ringing)

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

25 (Approximately)

 

 

Bankers :

Bank Name:

Nagpur Nagrik Sahakari Bank Limited

Branch:

Dadar West, 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

 

 

Facilities :

--

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Shah and Associates

Chartered Accountants

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Sister Concerns:

·         Volition Trading Private Limited

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Capital Investment :

 

Owned :

Rs. 20.007 Million

Borrowed :

--

Total :

Rs. 20.007 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2015

SHAREHOLDERS FUNDS

 

 

 

1] Partner Capital

 

 

20.007

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

0.000

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

20.007

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

36.007

2] Unsecured Loans

 

 

0.000

TOTAL BORROWING

 

 

36.007

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

 

 

56.014

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

1.101

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT AND DEPOSITS

 

 

1.692

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

 

0.000

 

Sundry Debtors
 

 

223.367

 

Cash & Bank Balances
 

 

0.000

 

Other Current Assets

 

 

4.850

 

Loans & Advances
 

 

0.015

Total Current Assets
 

 

228.232

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 

 

0.000

 

Other Current Liabilities

 

 

174.753

 

Provisions
 

 

0.258

Total Current Liabilities
 

 

175.011

Net Current Assets
 

 

53.221

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

56.014

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2015

 

SALES

 

 

 

 

 

Sales

 

 

4080.721

 

 

Other Income

 

 

0.189

 

 

TOTAL                                    

 

 

4080.910

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

 

 

4059.999

 

 

Professsional Fees

 

 

0.194

 

 

Salary Expenses

 

 

0.831

 

 

Interest on C.C A/c.

 

 

4.962

 

 

L.C. Discounting Charges

 

 

9.385

 

 

Remuneration to Partner

 

 

0.961

 

 

Other Expenses

 

 

0.689

 

 

TOTAL                                    

 

 

4077.021

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION AND TAX

 

 

3.889

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

 

 

0.104

 

 

 

 

 

 

 

NET PROFIT/ (LOSS)                           

 

 

3.785

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

Sales Turnover (Approximately)

 

120.000

50.000

 

 

 

 

 

The above information has been parted by Mr. Hiren Shah (Partner)

 

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

KEY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2015

Net Profit Margin

(PAT / Sales)

(%)
 

 

0.09

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

 

1.65

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

 

0.19

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

 

1.80

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

1.30

 

 

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

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

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

No

29

Profitability for last one year

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 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. 64.88

UK Pound

1

Rs. 99.89

Euro

1

Rs. 72.06

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--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

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

 

45

 

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.