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|
MIRA INFORM REPORT
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Report No. : |
486471 |
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Report Date : |
01.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
S. KANT AGENCIES |
|
|
|
|
Registered
Office : |
Office No. 6 to 14 and 37, Ground Floor, Rahul Apartment Plot No
E-125, Sector 12, Kharghar, Navi Mumbai - 410210, Maharashtra |
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Mobile No.: |
91-9619861714 (Mr. Nirav Patel) |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Year of
Establishment: |
1983 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 80.914 Million |
|
|
|
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TIN No.: |
Not Available |
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IEC No.: |
Not Applicable (As informed by the management that firm
does not have export and import) |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACFS3459B |
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GSTIN : |
27AACFS3459B1ZD |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Trader and Distributor of Pharmaceutical Drugs. (Confirmed by
management) |
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|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
Maximum Credit Limit : |
USD 200000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a partnership firm established in the year 1983 and it is a
trader and distributor of pharmaceutical drugs. As per financial of March 2017, the subject has registered growth of
18.75% in its sales turnover as compared to its previous year’s sales
turnover and has reported minimal profit margin of 0.34%. Rating takes into consideration the subject’s established track record
of business operations marked by sound capital base along with low solvency
indicators and decent liquidity position. Payments seems to be usually correct. In view of aforesaid, the subject can be considered for business
dealings at usual trade terms and conditions.
Note : Site visit was conducted at the registered address. Our executive has
successfully traced the subject at the given address. At the premises, our executive has met Mr. Nirav Patel (Manager) and
he provided his contact details. (9619861714) As per our executive’s observation, it is a ground + 4 storey building
and subject is situated at the ground floor. Location was easy to find and
locality seems to be residential cum commercial. Area seems to be upmarket.
10 employees were sighted at the premises Landmark – Kharghar Market. Name board of the subject was sighted at the given address. |
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
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
31-03-2016.
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 01.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
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. Nirav Patel |
|
Designation : |
Manager |
|
Contact No.: |
91-9619861714 |
|
Date : |
24.01.2018 |
LOCATIONS
|
Registered Office / Warehouse : |
Office No. 6 to 14 and 37, Ground Floor, Rahul Apartment Plot No E-125,
Sector 12, Kharghar, Navi Mumbai - 410210, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9619861714 (Mr. Nirav Patel) |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Location : |
Owned |
|
Locality : |
Residential cum Commercial |
PARTNERS
|
Name : |
Mr. Rohan M. Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Praful K. Shah |
|
Designation : |
Partner |
|
|
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|
Name : |
Mr. Mahesh K. Shah |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mrs. Mrudula P. Shah |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Nirav Patel |
|
Designation : |
Manager |
BUSINESS DETAILS
|
Line of Business : |
Trader and Distributor of Pharmaceutical Drugs. (Confirmed by
management) |
|
|
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Brand Names : |
Not Divulged |
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Agencies Held : |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Credit (60 Days), RTGS |
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Purchasing : |
Credit (21 Days), RTGS, NEFT |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailer, OEM’s, Manufacturer
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No. of Employees : |
80 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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||||
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Name : |
Krishan and Associates Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern: |
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CAPITAL STRUCTURE
As on 31.03.2017
|
Partner’s Capital |
Amount in INR |
|
Fixed Capital |
|
|
Mahesh K. Shah |
0.013 |
|
Mrudula P. Shah |
0.013 |
|
Prafula K. Shah |
0.013 |
|
Rohan Mahesh Shah |
0.013 |
|
|
|
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Current Capital |
|
|
Mahesh K. Shah |
6.604 |
|
Mrudula P. Shah |
36.995 |
|
Prafula K. Shah |
34.335 |
|
Rohan Mahesh Shah |
2.928 |
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|
|
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Total |
80.914 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
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I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
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(a) Partner's Capital |
|
80.914 |
56.659 |
|
(b) Reserves &
Surplus |
|
0.000 |
0.000 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
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|
|
|
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|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
|
80.914 |
56.659 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
21.974 |
38.204 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
21.974 |
38.204 |
|
|
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|
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(4) Current Liabilities |
|
|
|
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(a) Short term borrowings |
|
42.514 |
26.689 |
|
(b) Trade payables |
|
19.843 |
25.054 |
|
(c) Other current
liabilities |
|
(0.150) |
(0.477) |
|
(d) Short-term provisions |
|
4.651 |
4.551 |
|
Total Current Liabilities
(4) |
|
66.858 |
55.817 |
|
|
|
|
|
|
TOTAL |
|
169.746 |
150.680 |
|
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|
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II.
ASSETS |
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|
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(1) Non-current assets |
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|
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|
(a) Fixed Assets |
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|
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(i) Tangible assets |
|
24.225 |
22.621 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
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(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
9.714 |
6.714 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
0.821 |
0.446 |
|
Total Non-Current Assets |
|
34.760 |
29.781 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
65.031 |
63.384 |
|
(c) Trade receivables |
|
63.056 |
51.157 |
|
(d) Cash and cash
equivalents |
|
0.189 |
0.289 |
|
(e) Short-term loans and
advances |
|
6.482 |
5.823 |
|
(f) Other current assets |
|
0.228 |
0.246 |
|
Total Current Assets |
|
134.986 |
120.899 |
|
|
|
|
|
|
TOTAL |
|
169.746 |
150.680 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
694.681 |
585.001 |
|
|
Other Income |
|
0.745 |
0.713 |
|
|
TOTAL |
|
695.426 |
585.714 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
653.987 |
547.038 |
|
|
Employees benefits
expense |
|
10.865 |
10.313 |
|
|
Other expenses |
|
12.223 |
11.919 |
|
|
TOTAL |
|
677.075 |
569.270 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
18.351 |
16.444 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
11.741 |
9.981 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
6.610 |
6.463 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
3.163 |
3.189 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
3.447 |
3.274 |
|
|
|
|
|
|
|
Less |
TAX |
|
1.100 |
1.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
2.347 |
2.274 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
33.13 |
31.92 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
11.02 |
11.44 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
11.07 |
16.72 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
0.28 |
0.26 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
0.76 |
0.73 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
0.52 |
0.62 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
0.80 |
1.15 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
0.83 |
0.99 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
0.30 |
0.40 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
1.56 |
1.65 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
((PAT / Sales) * 100) |
% |
|
0.34 |
0.39 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
1.38 |
1.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
2.90 |
4.01 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
2.02 |
2.17 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
1.05 |
1.03 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
0.48 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
0.80 |
1.15 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
2.02 |
2.17 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Share Capital |
56.659 |
80.914 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
|
Net
worth |
56.659 |
80.914 |
|
|
|
|
|
Long Term borrowings |
38.204 |
21.974 |
|
Short Term borrowings |
26.689 |
42.514 |
|
Total
borrowings |
64.893 |
64.488 |
|
Debt/Equity
ratio |
1.145 |
0.797 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
585.001 |
694.681 |
|
|
|
18.749 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
585.001 |
694.681 |
|
Profit |
2.274 |
2.347 |
|
|
0.39% |
0.34% |
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
|
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans |
21.974 |
38.204 |
|
|
|
|
|
Total |
21.974 |
38.204 |
FIXED CAPITAL
- Furniture and Fittings
- Plant and Machinery
- Computer
- Building
OBSERVATION FORM
|
COMPANY NAME: S. KANT AGENCIES ADDRESS: OFFICE NO. 6 TO 14 AND 37, GROUND FLOOR, RAHUL APARTMENT PLOT NO E-125, SECTOR 12, KHARGHAR, NAVI MUMBAI - 410210, MAHARASHTRA, INDIA PERSON TO WHOM WE MET: MR. NIRAV PATEL DESIGNATION: MANAGER NAME BOARD: SIGHTED LOCATION: EASY LANDMARK (IF ANY): KHARGHAR MARKET TOTAL FLOORS OF THE BUILDING: GROUND + 4 FLOOR SUBJECT SITUATED ON : GROUND FLOOR LOCALITY: RESIDENTIAL CUM COMMERCIAL AREA: UPMARKET NO. OF EMPLOYEES SEEN AT PREMISES: 10 VISIBILITY OF
ITEMS: TELEPHONE: YES COMPUTERS: YES AIR CONDITIONER: YES OFFICE EQUIPMENT: YES FURNITURE ITEMS
SIGHTED: YES PROOF OF VISIT: PHOTOGRAPH |
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.75 |
|
|
1 |
INR 89.39 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
VIV |
|
|
|
|
Analysis Done by
: |
PON |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
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 |
YES |
|
--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.