MIRA INFORM REPORT
|
Report No. : |
338912.2 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
PATEL ENTERPRISES |
|
|
|
|
Registered
Office : |
303/304 Gulmohar Complex, Opposite Anupam Cinema, Goregaon (East),
Mumbai – 400063, Maharashtra |
|
Tel. No.: |
91-22-26864946 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 (Unaudited) |
|
|
|
|
Year of
establishment : |
Since 1990 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 48.083 Million |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABTPP1702G |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Civil construction business, building contractors. |
|
|
|
|
No. of Employees
: |
15 (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 a proprietary concern, established in the year 1990. It has satisfactory track record. Management has reported a dip in its sales turnover in the year 2015, however it has healthy operational activity and maintained its revenue profile along with profitability margin of 18.75%. Further, the concern has established operations, experienced management and good capital structure. Trade relations are fair. Business is active. Payments terms are usually correct. In view of healthy and long business track record, the concern can be considered 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
|
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mrs. Aparna |
|
Designation : |
Accounts department |
|
|
|
|
Name : |
Mrs. Hansa Patel |
|
Designation : |
Proprietor |
|
|
|
|
Contact No.: |
91-22-26864946 |
|
Date : |
28.08.2015 |
LOCATIONS
|
Registered Office : |
303/304 Gulmohar Complex, Opposite Anupam Cinema, Goregaon (East),
Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-26864946 |
|
Mobile No.: |
91-9870937344 (Mr. Nimesh S Singh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
500 Sq ft |
|
Location : |
Owned |
|
Location: |
Commercial |
SOLE PROPRIETOR
|
Name : |
Mrs. Hansa Patel |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
55 Years |
|
Qualification : |
12th |
|
Experience : |
29 Years |
KEY EXECUTIVES
|
Name : |
Mrs. Aparna |
|
Designation : |
Accounts department |
BUSINESS DETAILS
|
Line of Business : |
Civil construction business, building contractors. |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Credit (30 Days) |
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
Building Contractor
|
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No. of Employees : |
12 (Approximately) |
||||||||||||||||||||||
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Thar and Company Vivek J Thar Chartered Accountants |
|
Address : |
209, Vardhman Chmabers Station Road, Vasai Road, Thane – 401202,
Maharashtra, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Sister Concern : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2015
|
Capital Account |
Rs In Million |
|
|
|
|
Hansa Nalim Patel |
48.083 |
|
|
|
|
Total |
48.083 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 (Unaudited) |
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
48.083 |
35.514 |
30.294 |
|
|
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 |
48.083 |
35.514 |
30.294 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
27.993 |
31.483 |
1.600 |
|
|
2] Unsecured Loans |
32.040 |
17.003 |
0.500 |
|
|
TOTAL BORROWING |
60.033 |
48.486 |
2.100 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108.116 |
84.000 |
32.394 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
52.543 |
28.683 |
29.197 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.507 |
3.052 |
2.971 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
33.857 |
9.829 |
10.844 |
|
|
Cash & Bank Balances |
(1.042) |
(1.166) |
7.607 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances, Deposite |
26.749 |
65.356 |
11.293 |
|
Total
Current Assets |
59.564
|
74.019
|
29.744
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.195 |
14.517 |
25.882 |
|
|
Other Current Liabilities |
0.320 |
1.701 |
0.000 |
|
|
Provisions |
1.983 |
5.536 |
3.636 |
|
Total
Current Liabilities |
6.498
|
21.754
|
29.518
|
|
|
Net Current Assets |
53.066 |
52.265 |
0.226 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108.116 |
84.000 |
32.394 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 (Unaudited) |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
60.737 |
158.484 |
110.870 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Closing Stock |
12.864 |
0.175 |
0.000 |
|
|
TOTAL
|
73.601 |
158.659 |
110.870 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Expenses for Karjat |
2.230 |
0.000 |
0.000 |
|
|
Expenses for Kandiali Site |
6.402 |
83.364 |
36.757 |
|
|
Expenses for Podar Site |
9.555 |
58.385 |
61.943 |
|
|
Expenses for Borivali Site |
40.455 |
0.176 |
0.000 |
|
|
Opening Stock |
0.176 |
0.000 |
0.000 |
|
|
Advertisement Expense |
0.011 |
0.000 |
0.000 |
|
|
Audit Fees |
0.100 |
0.058 |
0.054 |
|
|
Bank Charges |
0.001 |
0.008 |
0.006 |
|
|
Commission and Brokerage |
0.020 |
0.060 |
0.000 |
|
|
Computer Expenses - Office |
0.001 |
0.018 |
0.023 |
|
|
Computer Maintenance |
0.010 |
0.000 |
0.000 |
|
|
Conveyance |
0.001 |
0.031 |
0.000 |
|
|
Courier and Postage |
0.003 |
0.000 |
0.000 |
|
|
Electricity Expenses |
0.148 |
0.116 |
0.074 |
|
|
Legal and Professional Fees |
0.114 |
0.247 |
0.168 |
|
|
Loan Processing fees |
0.010 |
0.451 |
0.000 |
|
|
Motor Car Expenses |
0.128 |
0.088 |
0.008 |
|
|
Motor Car Insurance |
0.054 |
0.315 |
0.006 |
|
|
Notary and Franking Charges |
0.001 |
0.000 |
0.000 |
|
|
Office Expenses |
0.003 |
0.014 |
0.014 |
|
|
Office Maintenance |
0.046 |
0.309 |
0.041 |
|
|
Petrol Expenses |
0.371 |
0.000 |
0.230 |
|
|
Printing and Stationery |
0.045 |
0.089 |
0.040 |
|
|
Professional Tax |
0.109 |
0.234 |
0.007 |
|
|
Repairing and Maintenance |
0.055 |
0.048 |
0.016 |
|
|
Salary |
0.000 |
0.250 |
0.212 |
|
|
Sales Tax Penalty |
0.010 |
0.151 |
0.032 |
|
|
Professional Tax Paid by us of
wages - labour |
0.000 |
0.000 |
0.088 |
|
|
Rent |
0.000 |
0.000 |
0.180 |
|
|
Staff Welfare |
0.008 |
0.044 |
0.000 |
|
|
Telephone Expense |
0.130 |
0.116 |
0.086 |
|
|
Xerox |
0.030 |
0.000 |
0.000 |
|
|
Vat Paid |
1.193 |
0.000 |
0.000 |
|
|
Interest Expenses |
0.000 |
0.314 |
0.000 |
|
|
Valuation Charges |
0.000 |
0.020 |
0.000 |
|
|
TOTAL
|
61.420 |
144.906 |
99.985 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.181 |
13.753 |
10.885 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.795 |
0.919 |
0.997 |
|
|
|
|
|
|
|
|
NET PROFIT |
11.386 |
12.834 |
9.888 |
The above information has been parted by Mrs. Aparna
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 (Unaudited) |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
18.75 |
8.10 |
8.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.93 |
12.14 |
15.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.36 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.25 |
1.37 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61 |
1.99 |
1.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
30.294 |
35.514 |
48.083 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
30.294 |
35.514 |
48.083 |
|
|
|
|
|
|
Secured Loans |
1.600 |
31.483 |
27.993 |
|
Unsecured Loans |
0.500 |
17.003 |
32.040 |
|
Total
borrowings |
2.100 |
48.486 |
60.033 |
|
Debt/Equity
ratio |
0.069 |
1.365 |
1.249 |
%2004-Sep-2015_files/image011.gif)
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 |
110.870 |
158.484 |
60.737 |
|
|
|
42.946 |
(61.676) |
%2004-Sep-2015_files/image013.gif)
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 |
110.870 |
158.484 |
60.737 |
|
Profit |
9.888 |
12.834 |
11.386 |
|
|
8.92% |
8.10% |
18.75% |
%2004-Sep-2015_files/image015.gif)
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 |
No |
|
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 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 |
TRADE REFERENCE
- VAS Infrastructure Limited
- Aatharva Realtors
- Prem Leela Developers
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.66.23 |
|
UK Pound |
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
0 |
|
--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 |
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 |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.