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|
|
MIRA INFORM REPORT
|
Report No. : |
506362 |
|
Report Date : |
27.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
CHEMSTAR GLOBAL PRODUCTS LLP |
|
|
|
|
Registered
Office : |
A/303, Koldongri Cooperative Housing Society Limited, Parsiwada,
Opposite Airport Colony, Sahara Road, Andheri (East), Mumbai – 400099,
Maharashtra |
|
Tel. No.: |
91-22-28200790 |
|
|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Establishment : |
13.01.2017 |
|
|
|
|
Capital
Investment : |
INR 1.757 Million |
|
|
|
|
LLPIN : |
AAI-2693 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AALFC9998C1ZU |
|
|
|
|
TIN No.: |
27711495249 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALFC9998C |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Trader and Supplier of Polyurethane chemicals, food and feed,
specialty chemicals, petrochemicals, flavours and fragrances etc. [Confirmed by management ] |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 5000 |
|
|
|
|
Status : |
Relatively New Business |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new Limited Liability Partnership firm started
in January 2017. The firm is based in Mumbai, Mr. Nilesh Vinod Jhaveri (Partner) provided information and also
claimed that firm has achieved revenue of INR 20.000 million during FY 2018
(revenue figure could not be verified.) Further, the firm has achieved a revenue of INR 0.345 million and
reported profit margin at 15.94% (approx.) from January 2017 to March 2017. However, rating is constrained on account of limited track record of
business operation. Payment terms are slow but correct. The Limited Liability Partnership firm can be considered for business
dealings with some caution. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 27.04.2018
IBBI (Insolvency and Bankruptcy Board of
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Nilesh Vinod Jhaveri |
|
Designation : |
Designated Partner |
|
Contact No.: |
91-9769047655 |
|
Date : |
27.04.2018 |
LOCATIONS
|
Registered Office : |
A/303, Koldongri Cooperative Housing Society Limited, Parsiwada,
Opposite Airport Colony, Sahara Road, Andheri East, Mumbai – 400099,
Maharashtra, India |
|
Tel. No.: |
91-22-28200790 |
|
Mob. No: |
91-9769047655 (Mr. Nilesh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 Sq. ft. |
|
Location : |
Rented |
|
Locality: |
Residential |
|
|
|
|
Warehouse : |
Kasturi Complex, H-5, |
PARTNERS
|
Name : |
Mr. Nilesh Vinod Jhaveri |
|
Designation : |
Designated Partner |
|
Address : |
43, Presidency Society, 201, Padmanabh Building, Juhu Scheme,
Road No.8, Vile Parle (West), Mumbai -400049, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1964 |
|
Date of Appointment : |
13.01.2017 |
|
DPIN No.: |
01257659 |
|
PAN No.: |
AACPJ0679E |
|
|
|
|
Name : |
Mrs. Apurva Nilesh Jhaveri |
|
Designation : |
Designated Partner |
|
Address : |
6, Vallabh Nagar, 1 Nimish Apartments, Juhu Scheme, Road
No.5, Vile Parle (West), Mumbai-400056, |
|
Date of Birth/Age : |
27.07.1989 |
|
Date of Appointment : |
13.01.2017 |
|
DPIN No.: |
07668186 |
KEY EXECUTIVES
|
Name : |
Mr. Sundar Pille |
|
Designation : |
Account Executive |
CONTRIBUTION DETAILS
AS ON 31.03.2017
|
Names of Persons |
INR in Million |
|
Nilesh Vinod Jhaveri |
0.075 |
|
Apurva Nilesh Jhaveri |
0.025 |
|
Total |
0.100 |
BUSINESS DETAILS
|
Line of Business
: |
Trader and Supplier of Polyurethane chemicals, food and feed,
specialty chemicals, petrochemicals, flavours and fragrances etc. [Confirmed by management ] |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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|
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Exports : |
Not Available |
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|
|
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Imports : |
Not Available |
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|
|
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Terms : |
|
|
Selling : |
Cash, Advance Payment and Cheque |
|
|
|
|
Purchasing : |
Cash, Advance Payment and Cheque |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
10 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
R. K. Desai and Company Chartered Accountants |
|
Address : |
4, Bhimrao House, 1st Floor, 281, |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Sister Concern : |
-- |
CONTRIBUTION
AS O N 31.03.2017
|
Partners’ capital |
INR IN Million |
|
|
|
|
Apurva Nilesh Jhaveri |
0.025 |
|
Nilesh Vinod Jhaveri |
0.075 |
|
Total |
0.100 |
|
|
|
|
Current Capital |
|
|
Apurva Nilesh Jhaveri |
0.014 |
|
Nilesh Vinod Jhaveri |
1.643 |
|
Total |
1.657 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
|
13.01.2017 to 31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Contribution
Received |
|
|
|
|
(a) Partners Capital |
|
|
1.757 |
|
(b) Reserves & Surplus |
|
|
0.000 |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
1.757 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
0.000 |
|
(c) Other current liabilities |
|
|
0.081 |
|
(d) Short-term provisions |
|
|
0.012 |
|
Total
Current Liabilities (4) |
|
|
0.093 |
|
|
|
|
|
|
TOTAL |
|
|
1.850 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
0.128 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other Non-current assets |
|
|
0.027 |
|
Total
Non-Current Assets |
|
|
0.155 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
0.000 |
|
(d) Cash and cash equivalents |
|
|
1.537 |
|
(e) Short-term loans and
advances |
|
|
0.000 |
|
(f) Other current assets |
|
|
0.158 |
|
Total
Current Assets |
|
|
1.695 |
|
|
|
|
|
|
TOTAL |
|
|
1.850 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
13.01.2017 to 31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
0.345 |
|
|
Other Income |
|
|
0.000 |
|
|
TOTAL
|
|
|
0.345 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
0.000 |
|
|
Other expenses |
|
|
0.244 |
|
|
TOTAL |
|
|
0.244 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.101 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
0.046 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
0.055 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
0.055 |
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
20.000 |
|
|
|
|
|
The above information has been parted by Mr. Nilesh Vinod Jhaveri
(Partner)
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
13.01.2017 to 31.03.2017 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
|
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
13.01.2017 to 31.03.2017 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
0.05 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
0.05 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.07 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
13.01.2017 to 31.03.2017 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
|
15.94 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
2.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
3.13 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
13.01.2017 to 31.03.2017 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
|
18.23 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
18.23 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.95 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
18.23 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
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 |
Yes |
|
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 |
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 about 1 year
and three months |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about three months |
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 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
M04972766 |
100124011 |
THE SARASWAT COOPERATIVE BANK LTD |
19/09/2017 |
5000000.0 |
VILE PARLE WEST BRANCH,NISARG APARTMENT,GROUND FL BESANT ROAD,VILE PARLE WEST MUMBAI MUMBAI CITY MH 400056 IN |
|
2 |
M04973145 |
100124147 |
THE SARASWAT COOPERATIVE BANK LTD |
19/09/2017 |
15000000.0 |
VILE PARLE WEST BRANCH,NISARG APARTMENT,GROUND FL BESANT ROAD,VILE PARLE WEST MUMBAI MUMBAI CITY MH 400056 IN |
|
3 |
M06236475 |
100160459 |
THE SARASWAT COOPERATIVE BANK LTD |
05/03/2018 |
4000000.0 |
VILE PARLE WEST BRANCH,NISARG APARTMENT,GROUND FL BESANT ROAD,VILE PARLE WEST MUMBAI MUMBAI CITY MH 400056 IN |
FIXED ASSETS
- Computer / Printer
- Software
- Telephone
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
|
INR |
|
US Dollar |
1 |
INR 66.83 |
|
|
1 |
INR 93.17 |
|
Euro |
1 |
INR 81.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.