MIRA INFORM REPORT

 

 

Report No. :

346778

Report Date :

28.10.2015

 

IDENTIFICATION DETAILS

 

Name :

N.V. ELECTROTECHNICA PRIVATE LIMITED

 

 

Registered Office :

‘Orient Chambers’, 2163/B/20, Sadashiv Peth, Near Neelayam Cinema, Pune – 411030, Maharashtra

Tel. No.:

91-20-24331551 / 24332184

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.09.2006

 

 

Com. Reg. No.:

11-129034

 

 

Capital Investment / Paid-up Capital :

Rs.0.100 Million

 

 

CIN No.:

[Company Identification No.]

U31103PN2006PTC129034

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into trading in electrical items and engaged into providing consultancy services.

 

 

No. of Employees :

10 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

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 an established company incorporated in the year 2006. It has satisfactory track.

 

The rating takes into consideration above average financial risk profile of the company marked by decent increase in its revenue base and net profit in FY 2014. However, it has modest networth base.

 

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

 

In view of aforesaid, the company 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. Satyen Narke

Designation :

Director

Contact No.:

91-20-24331551

Date :

26.10.2015

 

 

LOCATIONS

 

Registered Office :

‘Orient Chambers’, 2163/B/20, Sadashiv Peth, Near Neelayam Cinema, Pune – 411030, Maharashtra, India

Tel. No.:

91-20-24331551 / 24332184

Mobile No.:

91-9028812389 (Office)

Fax No.:

91-20-24331551 / 24332184

E-Mail :

info@nvepl.com

Website :

www.nvepl.com

Area :

2000 Sq. Ft.

Location :

Owned

Locality :

Commercial

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Prakash Balasaheb Narke

Designation :

Director

Address :

Bunglow No. 404, Mahatma Co-Operating Housing Society, Kothrud, Pune -411038, Maharashtra, India 

Date of Birth/Age :

09.08.1948

Date of Appointment :

11.09.2006

DIN No.:

00583874

 

 

Name :

Ms. Prutha Prakash Narke

Designation :

Director

Address :

Bunglow No. 404, Mahatma Co-Operating Housing Society, Kothrud, Pune -411038, Maharashtra, India 

Date of Birth/Age :

05.01.1986

Date of Appointment :

11.09.2006

DIN No.:

00583910

 

 

Name :

Mrs. Sandhya Narke Prakash

Designation :

Director

Address :

Bunglow No. 404, Mahatma Co-Operating Housing Society, Kothrud, Pune -411038, Maharashtra, India 

Date of Birth/Age :

23.03.1953

Date of Appointment :

11.09.2006

DIN No.:

00583932

 

 

Name :

Mr. Satyen Prakash Narke

Designation :

Director

Address :

Bunglow No. 404, Mahatma Co-Operating Housing Society, Kothrud, Pune -411038, Maharashtra, India 

Date of Birth/Age :

07.02.1978

Date of Appointment :

11.09.2006

DIN No.:

00583949

 

 

Name :

Mr. Shantanu Prakash Narke

Designation :

Director

Address :

Bunglow No. 404, Mahatma Co-Operating Housing Society, Kothrud, Pune -411038, Maharashtra, India 

Date of Birth/Age :

18.01.1980

Date of Appointment :

11.09.2006

DIN No.:

00583963

 

 

KEY EXECUTIVES

 

Name :

Mr. C. S. Kelkar

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Prakash Balasaheb Narke

5000

50.00

Prutha Prakash Narke

1250

12.50

Sandhya Narke Prakash

1250

12.50

Satyen Prakash Narke

1250

12.50

Shantanu Prakash Narke

1250

12.50

Total

10000

100.00

 

 

As on 30.09.2014

 

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 :

Subject is engaged into trading in electrical items and engaged into providing consultancy services.

 

 

Products :

Electrical Items

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Arihant Electricals

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

  • Bajaj Electrical Limited
  • Namonkar Electricals Private Limited
  • National Electric Poles Manufacturers
  • Reliable Switching Devices
  • Starlite Electricals
  • Vijay Battery Agency
  • Vodafone
  • Idea

 

 

Customers :

Wholesalers and Retailers

Reference :

A-One Engineering Services

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

  • Asian Colour Coated Ispat Limited
  • Cargil India Private Limited
  • Forbes Marshall Private Limited
  • Leena Powertech Eng. Private Limited
  • Phinix Engineering Services
  • Sheetal Enterprises
  • Thyssenkrupp Industries Private Limited

 

 

No. of Employees :

10 (Approximately)

 

 

Bankers :

Banker Name

HDFC Bank Limited

Branch Address

Laxmi Road, Pune, 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 Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • IDBI Bank Limited

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

HDFC OD A/C (Secured against office premises owned by director)

0.211

0.818

IDBI Bank OD A/C

17.581

0.000

Term loans

 

 

Saraswat Bank – Vehicle Loan SX-4 (Secured by vehicle)

0.000

0.187

Total

17.792

1.005

 

Auditors :

 

Name :

Mujumdar and Dixit

Chartered Accountants

Address :

C-I/201, Swamipuram, 20160/B, Sadashiv Peth, Pune – 411030, Maharashtra, India

PAN No.:

AAIFM0539N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.10/- each

Rs.0.500 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/- each

Rs.0.100 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

0.100

0.100

0.100

(b) Reserves & Surplus

12.218

10.829

10.399

(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)

12.318

10.929

10.499

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.875

(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)

0.000

0.000

0.875

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

18.490

1.766

2.836

(b) Trade payables

43.455

13.913

43.033

(c) Other current liabilities

1.106

0.217

1.529

(d) Short-term provisions

2.482

1.069

2.518

Total Current Liabilities (4)

65.533

16.965

49.916

 

 

 

 

TOTAL

77.851

27.894

61.290

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2.175

2.690

3.520

(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)

0.334

0.282

0.207

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2.509

2.972

3.727

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.179

0.000

0.000

(c) Trade receivables

47.539

16.302

48.975

(d) Cash and cash equivalents

0.377

3.271

2.952

(e) Short-term loans and advances

27.236

5.340

5.624

(f) Other current assets

0.011

0.009

0.012

Total Current Assets

75.342

24.922

57.563

 

 

 

 

TOTAL

77.851

27.894

61.290

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

111.970

73.944

162.439

 

Other Income

0.966

1.315

1.013

 

TOTAL

112.936

75.259

163.452

 

 

 

 

 

Less

EXPENSES

110.143

73.114

158.091

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

2.793

2.145

5.361

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

0.699

0.873

1.106

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2.094

1.272

4.255

 

 

 

 

 

Less

TAX

0.708

0.445

1.308

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1.386

0.827

2.947

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

138.60

82.70

294.70

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

270.000

 

Expected Sales (2015-16): Rs.270.000 Million

 

The above information has been parted by Mr. Satyen Narke (Director).

 

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)

(%)

1.24

1.12

1.81

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.70

4.61

6.97

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.17

0.12

0.41

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.50

0.16

0.35

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.15

1.47

1.15

 

 

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

0.100

0.100

0.100

Reserves & Surplus

10.399

10.829

12.218

Net worth

10.499

10.929

12.318

 

 

 

 

long-term borrowings

0.875

0.000

0.000

Short term borrowings

2.836

1.766

18.490

Total borrowings

3.711

1.766

18.490

Debt/Equity ratio

0.353

0.162

1.501

 

 

 

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

162.439

73.944

111.970

 

 

-54.479

51.425

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

162.439

73.944

111.970

Profit

2.947

0.827

1.386

 

1.81%

1.12%

1.24%

 

 

 

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)

No

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

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

Yes

26

Turnover of firm for last four 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

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

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Loans from Directors

 

 

Mr. P.B. Narke

0.215

0.306

Mrs. Sandhya Narke

0.315

0.104

Mr. Satyen Narke

0.053

0.045

Mr. Shantanu Narke

0.092

0.083

Sanpratrade

0.000

0.195

Miss Prutha Narke

0.023

0.028

Total

0.698

0.761

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

 

FIXED ASSETS

 

  • Air Conditioner
  • Furniture and Fixture
  • Computer
  • Vehicles
  • Motor Cycle
  • Office Equipment
  • Telephone and Mobile

 

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.64.95

UK Pound

1

Rs.99.73

Euro

1

Rs.71.84

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

PNM

 

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

4

--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

YES

--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

 

42

 

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.