|
Report No. : |
339612 |
|
Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
S.V. OVERSEAS PTE. LTD. |
|
|
|
|
Registered Office : |
10, Anson Road, 14-09, International Plaza, 079903 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.11.2014 |
|
|
|
|
Date of Incorporation : |
13.12.2011 |
|
|
|
|
Com. Reg. No.: |
201135559-W |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Wholesale of electronic components,
minerals, coal. |
|
|
|
|
No. of Employees : |
5 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
201135559-W |
|
COMPANY NAME |
: |
S.V. OVERSEAS PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
13/12/2011 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
10, ANSON ROAD, 14-09, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
10, ANSON ROAD, 14-09, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
|
TEL.NO. |
: |
65-64109641/62257851 |
|
FAX.NO. |
: |
65-64109642 |
|
CONTACT PERSON |
: |
ABISHEK MEHTA ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF ELECTRONIC COMPONENTS, MINERALS, COAL |
|
ISSUED AND PAID UP CAPITAL |
: |
6,607,010.00 ORDINARY SHARE, OF A VALUE OF USD 6,607,010.00 |
|
SALES |
: |
USD 148,105,245 [2014] |
|
NET WORTH |
: |
USD 11,109,826 [2014] |
|
STAFF STRENGTH |
: |
5 [2015] |
|
BANKER (S) |
|
CITIBANK N.A. |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The
Subject is an exempt private company whose shares are not held by any corporate
body and has no more than 20 shareholders who are all
natural persons. An exempt company is a type of private limited company. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, suing or be sued by other companies. An exempt private company with
an annual turnover of less than SGD5 million are exempted from statutory
auditing requirements. Instead of filing audited annual accounts, the Subject
has to file in a document duly signed by its director in charge of its finance
and the company secretary stating that the Subject is able to meet all its
obligations as and when they fall due. The Subject is not required to have
their accounts audited. However, the Subject will prepare unaudited accounts
for purposes of AGMs and filing with Registry Office if it is unable to meet
all its obligations as and when they fall due .
The Subject is principally engaged in the (as a / as an) wholesale of electronic components, minerals, coal.
Share Capital History
|
Date |
Issue & Paid Up
Capital |
|
29/06/2015 |
USD 6,607,010.00 |
The major shareholder(s)
of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. ABISHEK MEHTA + |
31, AMBER GARDENS, 01-02, THE ESTA, 439967, SINGAPORE. |
G5258505N |
6,607,010.00 |
100.00 |
|
--------------- |
------ |
|||
|
6,607,010.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR
1
|
Name
Of Subject |
: |
MR.
ABISHEK MEHTA |
|
Address |
: |
31,
AMBER GARDENS, 01-02, THE ESTA, 439967, SINGAPORE. |
|
IC
/ PP No |
: |
G5258505N |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
14/12/2011 |
|
1)
|
Name
of Subject |
: |
ABISHEK
MEHTA |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
STAMFORD
ASSOCIATES LLP |
|
Auditor'
Address |
: |
N/A |
|
1)
|
Company
Secretary |
: |
M.
VIMALAL |
|
IC
/ PP No |
: |
S2015125J |
|
|
Address |
: |
3,
EVERTON PARK, 05-71, 080003, SINGAPORE. |
Banking relations are maintained principally with :
|
1)
|
Name |
: |
CITIBANK
N.A. |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201500056 |
02/01/2015 |
N/A |
MALAYAN BANKING
BERHAD |
- |
Unsatisfied |
|
C201500059 |
02/01/2015 |
N/A |
MALAYAN BANKING
BERHAD |
- |
Unsatisfied |
|
C201505792 |
19/05/2015 |
N/A |
CITIBANK N.A. |
- |
Unsatisfied |
|
C201505795 |
19/05/2015 |
N/A |
CITIBANK N.A. |
- |
Unsatisfied |
*
A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
X |
] |
Average
61-90 Days |
[ |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
Goods
Traded |
: |
ELECTRONIC
COMPONENTS, MINERALS, COAL |
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
5 |
5 |
|||||||
|
Branch |
: |
|
Other
Information:
The Subject is principally engaged in the (as a / as an) wholesale of
electronic components, minerals, coal.
The Subject refused to disclose its operation.
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-64109641/62257851 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
10
ANSON ROAD, 14-09, INTERNATIONAL PLAZA,079903,SINGAPORE |
|
Current
Address |
: |
10,
ANSON ROAD, 14-09, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
27.25% |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
64.13% |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
4.82% |
] |
|
|
Return
on Net Assets |
: |
Acceptable |
[ |
14.72% |
] |
|
|
The higher turnover could be attributed to the
favourable market condition and the Subject could be gaining the market share
progressively.The higher profit could be attributed to the increase in
turnover. The unfavourable return on shareholders' funds could indicate that
the Subject was inefficient in utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Nil |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
26
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
4
Days |
] |
|
|
As the Subject is a service oriented
company, the Subject does not need to keep stocks. The favourable debtors'
days could be due to the good credit control measures implemented by the Subject.
The Subject had a favourable creditors' ratio where the Subject could be
taking advantage of the cash discounts and also wanting to maintain goodwill
with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
2.05
Times |
] |
|
|
Current
Ratio |
: |
Favourable |
[ |
2.05
Times |
] |
|
|
A minimum liquid ratio of 1 should be
maintained by the Subject in order to assure its creditors of its ability to meet
short term obligations and the Subject was in a good liquidity position.
Thus, we believe the Subject is able to meet all its short term obligations
as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Unfavourable |
[ |
1.56
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.69
Times |
] |
|
|
The Subject's interest cover was low. If
its profits fall or when interest rate rises, it may not be able to meet
all its interest payment. The Subject was lowly geared thus it had a low
financial risk. The Subject was mainly financed by its shareholders' funds
and internally generated funds. In times of economic slowdown / downturn, the
Subject being a lowly geared company, will be able to compete better than
those companies which are highly geared in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Generally, the Subject's performance has improved
with higher turnover and profit. The Subject was in good liquidity position
with its total current liabilities well covered by its total current assets.
With its current net assets, the Subject should be able to repay its short
term obligations. If there is a fall in the Subject's profit or any increase
in interest rate, the Subject may not be able to generate sufficient
cash-flow to service its interest. The Subject as a lowly geared company,
will be more secured compared to those highly geared companies. It has the
ability to meet all its long term obligations. |
||||||
|
Overall
financial condition of the Subject : LIMITED |
||||||
|
Major
Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population
(Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross
Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer
Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total
Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total
Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment
Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist
Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel
Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular
Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration
of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration
of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation
of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation
of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration
of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration
of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation
of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation
of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy
Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy
Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy
Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy
Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish
Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing
* |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food,
Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing
Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather
Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood
& Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper
& Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing
& Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude
Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical
& Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical
Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber
& Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic
Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic
Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated
Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery
& Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical
Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic
Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport
Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real
Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport,
Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance
& Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government
Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education
Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
*
Based on Index of Industrial Production (2011 = 100) |
|
INDUSTRY
: |
TRADING |
|
The wholesale and retail trade sectors have
expanded by 2.0% in the third quarter of 2014, extending the 1.8 per cent
growth in the previous quarter. In 2013, the wholesale and retail sector expanded
by 5.0%, after declining by 1.4% the year before. Growth of the sector was
driven by the wholesale trade segment. |
|
|
The domestic wholesale trade index has
increased by 3.2% in the fourth quarter of 2013, moderating from the 6.6%
growth in the previous quarter. The slower growth was due to a decline in the
sales of furniture and household equipment (-12%) and petroleum and petroleum
products (-0.6%). For the full year, the domestic wholesale trade index grew
by 5.2% reversing the 2.2% decline in 2012. On the other hand, the foreign
wholesale trade index has increased by a slower pace of 5.6% in the fourth
quarter, compared to the 7.7% expansion in the preceding quarter. The
slowdown was due to a fall in the sales of telecommunication equipment and
computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full
year, the growth of the foreign wholesale trade index moderated slightly to
8.6% from 9.1% in the previous year. |
|
|
In the fourth quarter of 2013, retail sales
volume fell by 6.2%, extending the 5.6% decline in the previous quarter.
Excluding motor vehicles, retail sales volume increased by 0.4%, a slower
pace of expansion as compared to the 1.6% gain in the preceding quarter. The
sales volume of motor vehicles fell by 33% in the fourth quarter of 2013,
extending the 32% decline in the previous quarter. Meanwhile, the sales of
several discretionary items also fell in the fourth quarter of 2013. For
instance, the sales of telecommunications apparatus and computers fell by 12%,
while the sales of furniture and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume
contracted by 4.3%, a reversal from the 1.3% expansion in 2012. Excluding motor
vehicle sales, the retail sales volume grew by 1.1% in 2013, slower than the
1.7% increase in 2012. Watches and jewellery recorded the largest increase
(11%) in sales in 2013, followed by optical goods and book (3%) and medical
goods and toiletries (3%). By contrast, the sales of telecommunications
apparatus and computer (-7.3%), furniture and household equipment (-4.2%) and
petrol service stations (-1.4) declined in 2013. |
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
Incorporated in 2011, the Subject is an Exempt Private company, focusing
on wholesale of electronic components, minerals, coal. The Subject has been in
business for less than 5 years and it has slowly been building up contact with
its clients while competing in the industry. However, it has yet to enjoy a
stable market shares as it need to compete many well established players in the
same field. A paid up capital of USD 6,607,010 allows the Subject to expand its
business more comfortably. We considered that the Subject's business position
in the market is much dependent on the efforts of its directors.
Investigation revealed, the Subject has penetrated into both the local and
overseas market. The Subject has positioned itself in the global market and is
competing in the industry. Its stable clientele base will enable the Subject to
further enhance its business in the near term. Being a small company, the
Subject's business operation is supported by 5 employees. Overall, we regard
that the Subject's management capability is average. This indicates that the
Subject has greater potential to improve its business performance and raising
income for the Subject.
We noted that both the turnover and profits have increased compared to the
previous year. The higher profit could be due to increase in turnover and
better control over its operating costs. The Subject has generated an
unfavourable return on shareholders' funds indicating that the management was
inefficient in utilising its funds to generate return. The Subject is in good
liquidity position with its current liabilities well covered by it current
assets. Hence, it has sufficient working capital to meet its short term
financial obligations. Being a lowly geared company, the Subject is exposed to
low financial risk as it is mainly dependent on its internal funds to finance
its business needs. Given a positive net worth standing at USD 11,109,826, the
Subject should be able to maintain its business in the near terms.
Without a strong assets backing, the Subject may face difficulties in getting
loans for its future expansion and continued growth .
Overall, the Subject's payment habit is good as the Subject has a good
credit control and it could be taking advantage of the cash discounts while
maintaining a good reputation with its creditors.
The industry shows an upward trend and this trend is very likely to sustain in
the near terms. Hence, the Subject is expected to benefit from the favourable
outlook of the industry.
Based on the above condition, we recommend credit be granted to the Subject
normally.
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
Financial Year End |
2014-11-30 |
2013-11-30 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
148,105,245 |
116,386,537 |
|
Other Income |
12,114 |
15,660 |
|
---------------- |
---------------- |
|
|
Total Turnover |
148,117,359 |
116,402,197 |
|
Costs of Goods Sold |
(146,012,995) |
(115,115,425) |
|
---------------- |
---------------- |
|
|
Gross Profit |
2,104,364 |
1,286,772 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
589,434 |
359,130 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
589,434 |
359,130 |
|
Taxation |
(53,390) |
(23,795) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
536,044 |
335,335 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
536,044 |
335,335 |
|
Extraordinary items |
31 |
32 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
536,075 |
335,367 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
616,741 |
281,374 |
|
---------------- |
---------------- |
|
|
As restated |
616,741 |
281,374 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,152,816 |
616,741 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,152,816 |
616,741 |
|
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
||
|
Others |
1,045,949 |
328,052 |
|
---------------- |
---------------- |
|
|
1,045,949 |
328,052 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
3,421 |
2,196 |
|
---------------- |
---------------- |
|
|
3,421 |
2,196 |
|
|
============= |
============= |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
7,154 |
3,787 |
|
Investment properties |
116,470 |
- |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
116,470 |
- |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
123,624 |
3,787 |
|
Trade debtors |
10,422,803 |
14,290,725 |
|
Other debtors, deposits & prepayments |
8,636,285 |
5,228,524 |
|
Cash & bank balances |
2,378,354 |
1,877,536 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
21,437,442 |
21,396,785 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
21,561,066 |
21,400,572 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade creditors |
1,491,951 |
1,980,150 |
|
Other creditors & accruals |
1,255,863 |
215,772 |
|
Short term borrowings/Term loans |
7,650,036 |
2,500,000 |
|
Amounts owing to director |
- |
2,717 |
|
Provision for taxation |
53,390 |
25,312 |
|
Other liabilities |
- |
9,452,839 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
10,451,240 |
14,176,790 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
10,986,202 |
7,219,995 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
11,109,826 |
7,223,782 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
9,957,010 |
6,607,010 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
9,957,010 |
6,607,010 |
|
Retained profit/(loss) carried forward |
1,152,816 |
616,741 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,152,816 |
616,741 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
11,109,826 |
7,223,751 |
|
Deferred taxation |
- |
31 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
- |
31 |
|
---------------- |
---------------- |
|
|
11,109,826 |
7,223,782 |
|
|
============= |
============= |
|
TYPES OF FUNDS |
||
|
Cash |
2,378,354 |
1,877,536 |
|
Net Liquid Funds |
2,378,354 |
1,877,536 |
|
Net Liquid Assets |
10,986,202 |
7,219,995 |
|
Net Current Assets/(Liabilities) |
10,986,202 |
7,219,995 |
|
Net Tangible Assets |
11,109,826 |
7,223,782 |
|
Net Monetary Assets |
10,986,202 |
7,219,964 |
|
PROFIT &
LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
0 |
0 |
|
Earnings Before Interest, Taxes, Depreciation
And Amortization (EBITDA) |
1,638,804 |
689,378 |
|
BALANCE SHEET
ITEMS |
||
|
Total Borrowings |
7,650,036 |
2,500,000 |
|
Total Liabilities |
10,451,240 |
14,176,821 |
|
Total Assets |
21,561,066 |
21,400,572 |
|
Net Assets |
11,109,826 |
7,223,782 |
|
Net Assets Backing |
11,109,826 |
7,223,751 |
|
Shareholders' Funds |
11,109,826 |
7,223,751 |
|
Total Share Capital |
9,957,010 |
6,607,010 |
|
Total Reserves |
1,152,816 |
616,741 |
|
LIQUIDITY
(Times) |
||
|
Cash Ratio |
0.23 |
0.13 |
|
Liquid Ratio |
2.05 |
1.51 |
|
Current Ratio |
2.05 |
1.51 |
|
WORKING CAPITAL
CONTROL (Days) |
||
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
26 |
45 |
|
Creditors Ratio |
4 |
6 |
|
SOLVENCY RATIOS
(Times) |
||
|
Gearing Ratio |
0.69 |
0.35 |
|
Liabilities Ratio |
0.94 |
1.96 |
|
Times Interest Earned Ratio |
1.56 |
2.09 |
|
Assets Backing Ratio |
1.12 |
1.09 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating Profit Margin |
0.40 |
0.31 |
|
Net Profit Margin |
0.36 |
0.29 |
|
Return On Net Assets |
14.72 |
9.51 |
|
Return On Capital Employed |
14.72 |
9.51 |
|
Return On Shareholders' Funds/Equity |
4.82 |
4.64 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO
ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
UK Pound |
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
DPT |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.