MIRA INFORM REPORT

 

 

Report No. :

490586

Report Date :

10.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

YIZUMI PRECISION MACHINERY (INDIA) PRIVATE LIMITED

 

 

Registered Office :

C-803, Safal Parivesh, Prahaladnagar, Ahmedabad – 380015, Gujarat, India

Mobile No.:

91-7096361586 (Mr. Ramesh Varadan)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

04.08.2016

 

 

Com. Reg. No.:

04-093223

 

 

Capital Investment / Paid-up Capital :

INR 15.676 Million

 

 

CIN No.:

[Company Identification No.]

U29190GJ2016PTC093223

 

 

IEC No.:

Not Divulged

 

 

GSTIN/UIN:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACY8230D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Production, sale R and D of servo high precision plastics injection molding machines, die casting rubber injection and press machines, hydraulic, low-pressure, pipe packing, machines etc. (Registered Activity)

 

 

No. of Employees :

Information denied by the management

 

 

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

 

Status :

Yet to commence its business operations

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2016. It is a subsidiary of Guangdong Yizumi Precision Machinery Co Limited.

 

The company has not earned income from its operations during the year.

 

The overall financial position of the company seems to be moderate.

 

Rating takes into consideration the strength that the company derives from its holding company and it well experienced management team.

 

No payments terms are known.

 

In view of aforesaid, the company 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

(30.06.2017)

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 09.02.2018

 

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 DENIED BY

 

Name :

Mr. Ramesh Varadan

Designation :

Director

Contact No.:

91-7096361586

Date :

08.02.2018

 

 

LOCATIONS

 

Registered Office :

C-803, Safal Parivesh, Prahaladnagar, Ahmedabad – 380015, Gujarat, India

Tel. No.:

Not Available

Mobile No.:

91-7096361586 (Mr. Ramesh Varadan)

Fax No.:

Not Available

E-Mail :

ramesh@yizumi.com

vramesh.nb@gmail.com

zhangt@yizumi-group.com

Website :

 

 

 

Factory :

Plot No.7, Mahagujarat Industrial Estate, Moriya Patia, Village-Moraiya, Ahmedabad – 382210, Gujarat, India

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Ramesh Varadan

Designation :

Director

Address :

C-803, Safal Parivesh Prahladnagar, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

19.01.1971

Date of Appointment :

04.08.2016

DIN No.:

01940261

 

 

Name :

Mr. Tao Zhang

Designation :

Director

Address :

Suite 2a,Tower 10, Xinji Xinghe Mingju, No.15 Guipan Road, Daliang Sub District, Shund E District Foshan City Guangdong 528000, China

Date of Birth/Age :

25.09.1968

Date of Appointment :

04.08.2016

DIN No.:

07273096

Other Directorship:

CIN/FCRN

COMPANY NAME

BEGIN DATE

END DATE

U29190GJ2016PTC093223

YIZUMI PRECISION MACHINERY (INDIA) PRIVATE LIMITED

04/08/2016

-

 

 

Name :

Mr. Miaoyu Yu

Designation :

Director

Address :

No.604, Building 3, Yihu Yaju, Xingui Road South, Daliang Sub-District, Shunde District, G Uangdong, P Foshan, City Na Cn

Date of Appointment :

13.10.2017

DIN No.:

07919387

 

 

Name :

Mr. Zhuoyuan Mai

Designation :

Director

Address :

No. 2, Liangxia 3rd Alley, Maicun Xingtan Town, Shunde District, Guangdong Province Foshan City Na Cn

Date of Appointment :

13.10.2017

DIN No.:

07919388

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

No. of Shares

% of Holding

Ramesh Varadan

4900

3.13

Guangdong Yizumi Precision Machinery Co. Limited, China

151858

96.87

Total

156758

100.00

 

 

 

 

 

LIST OF ALLOTTEE:

 

AS ON 01.08.2017

 

Names of Shareholders

 

No. of Shares

Ramesh Varadan

 

11973

Total

 

11973

 

AS ON 15.11.2017

 

Names of Shareholders

 

No. of Shares

Guangdong Yizumi Precision Machinery Co. Limited, China

 

114355

Total

 

114355

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 17.08.2017

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

3.13

Promoters- Body corporate

96.87

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Production, sale R and D of servo high precision plastics injection molding machines, die casting rubber injection and press machines, hydraulic, low-pressure, pipe packing, machines etc. (Registered Activity)

 

 

Products / Services :

Name and Description of main products / services

ITC Code of the Product/service

Moulding, pressing, stamping, extruding and similar plastic manufacturing Machines

99892001

Production, sale R and D of servo high precision plastics injection molding machines, die casting rubber injection and press machines, hydraulic, low-pressure, pipe packing, machines etc.

2823

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

Not Divulged

Branch :

 

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Auditors :

 

Name :

M/s Devadiya & Associates

Chartered Accountants

Address :

A-203, Narnarayan Complex, Near Swastik Cross Road, Navrangpura, Ahmedabad – 380009, Gujarat, India 

PAN N Income-tax PAN of auditor or auditor's firm :

AAFFD4780K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company:

Guangdong Yizumi Precision Machinery Co. Limited, China

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000

Equity Shares

INR 100/- each

INR 25.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

156758

Equity Shares

INR 100/- each

INR 15.676 Million

 

 

 

 

 

 

AS ON 17.08.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

300000

Equity Shares

INR 100/- each

INR 30.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

283086

Equity Shares

INR 100/- each

INR 28.309 Million

 

 

 

 

 


 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2017

(8 Months)

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

15.676

(b) Reserves & Surplus

 

 

0.010

(c) Money received against share warrants

 

 

41.733

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Total Shareholders’ Funds (1) + (2)

 

 

57.419

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

0.990

(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)

 

 

0.990

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

0.000

(b) Trade payables

 

 

7.875

(c) Other current liabilities

 

 

0.000

(d) Short-term provisions

 

 

0.000

Total Current Liabilities (4)

 

 

7.875

 

 

 

 

TOTAL

 

 

66.284

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

0.731

(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)

 

 

0.612

(d)  Long-term Loan and Advances

 

 

0.000

(e) Other Non-current assets

 

 

7.756

Total Non-Current Assets

 

 

9.099

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

0.000

(b) Inventories

 

 

2.285

(c) Trade receivables

 

 

0.000

(d) Cash and cash equivalents

 

 

51.101

(e) Short-term loans and advances

 

 

3.799

(f) Other current assets

 

 

0.000

Total Current Assets

 

 

57.185

 

 

 

 

TOTAL

 

 

66.284

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2017

(8 Months)

 

SALES

 

 

 

 

Income

 

 

0.000

 

Other Income

 

 

0.106

 

TOTAL

 

 

0.106

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

 

 

2.440

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

 

(2.285)

 

Employees benefits expense

 

 

0.158

 

Other expenses

 

 

1.731

 

TOTAL

 

 

2.044

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

 

(1.938)

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

 

0.009

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

 

(1.947)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

 

0.035

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

 

(1.982)

 

 

 

 

 

Less

TAX

 

 

(0.613)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

 

(1.369)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

 

 

0.018

 

TOTAL EARNINGS

 

 

0.018

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

(38.44)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

 

31.03.2017

(8 Months)

Current Maturities of Long term debt

 

 

NA

Cash generated from operations

 

 

NA

Net cash flows from (used in) operations

 

 

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

 

 

31.03.2017

(8 Months)

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

 

 

1178.02

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

 

 

(0.85)

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

 

 

(2.65)

 

LEVERAGE RATIOS

 

PARTICULARS

 

 

 

31.03.2017

(8 Months)

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

 

 

0.13

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

 

 

0.02

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

 

 

0.14

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

 

 

0.01

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

 

 

(215.33)

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2017

(8 Months)

Net Profit Margin

((PAT / Sales) * 100)

%

 

 

0.00

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

 

 

(2.07)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

 

 

(2.38)

 

SOLVENCY RATIOS

 

PARTICULARS

 

 

 

31.03.2017

(8 Months)

Current Ratio

(Current Assets / Current Liabilities)

 

 

7.26

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

 

 

6.97

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

 

 

0.87

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

 

 

0.06

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

 

 

7.26

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

No

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

No

17

Details of sister concerns

Yes

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

Yes

26

Turnover of firm for last one year

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last one year

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOANS:

 

Particulars

31.03.2017

INR In Million

LONG TERM BORROWINGS

 

Loans and advances from related parties

0.990

Total

0.990

 

 

INDEX OF CHARGE: No Charges Exists for Company

 

 

FIXED ASSETS:

 

  • Air Conditioner
  • Furniture
  • Computer
  • Software

 

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

INR

US Dollar

1

INR 64.36

UK Pound

1

INR 89.71

Euro

1

INR 78.89

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHW

 

 

Analysis Done by :

NIY

 

 

Report Prepared by :

NKTS

 


 

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)

 

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.