MIRA INFORM REPORT

 

 

Report No. :

491366

Report Date :

13.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

AMEX RESOURCES

 

 

Registered Office :

312, 3rd Floor, Parekh Market, 39 J.S.S. Road, Opera House, Mumbai - 400004, Maharashtra

Tel. No.:

91-22-40065337/ 23855336

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Establishment :

01.06.2011

 

 

Capital Investment :

INR 21.472 Million

 

 

IEC No.:

0311088457

 

 

TIN No.:

27290855765

 

 

GSTIN:

27AATFA5430D1ZJ

 

 

PAN No.:

[Permanent Account No.]

AATFA5430D

 

 

Legal Form :

Partnership Concern with an Unlimited Liability of the Partners

 

 

Line of Business :

Trader of Copper Strips, Brass Strips, Tin Ingots, Lead Ingots, Zinc Ingots, Zinc Alloy Ingots, Aluminium Ingots, Aluminium Alloy Ingots, Nickel, etc. [Confirmed by Management]

 

 

No. of Employees :

08 (Approximately) [In Office: 06 and In Branch: 02]

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Amex resources was started in the year 2011 and is based in Mumbai, Maharashtra. It is an established partnership concern having satisfactory track record.

 

The concern has achieved decent revenue of INR 970.000 million during FY 2017. However, revenue figure could not be verified.

 

As per the available audited financials of 2016, the concern has witnessed a growth in its revenue and has achieved good profit margin.

 

The rating takes into consideration adequate capital base along with fair debt level of the concern.

 

Rating also considers positive feedback received from its customer (Gloster Cables Limited) for satisfactory product quality, supplier (Phoneix Industries Private Limited) for good payment behavior and market goodwill and from its banker (Yes Bank Limited) for satisfactory banking transactions.

 

However, these rating strengths are partially offset by risks associated with trading nature of business operations and intense competition from other organized and unorganized players in the industry.

 

Trade relations are reported as fair. Payments are reported to be usually correct.

 

In view of aforesaid, 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

 

Country Name

Previous Rating

(31.03.2017)

Current Rating

(30.06.2017)

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

 

 

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 28.09.2017

 

 

INFORMATION PARTED BY

 

Name :

Mr. Kapil Rathod

Designation :

Partner

Contact No.:

91-9820030384

Date :

07.09.2017

 


 

LOCATIONS

 

Registered Office :

312, 3rd Floor, Parekh Market, 39 J.S.S. Road, Opera House, Mumbai - 400004, Maharashtra, India

Tel. No.:

91-22-40065337/ 36

Mobile No.:

91-9820055337 (Mr. Tushar Jain)

91-9820030384 (Mr. Kapil Rathod)

Fax No.:

Not Available

E-Mail :

info@amexresources.in

Website :

http://www.amexresources.in

Area :

300 Sq. Ft.

Location :

Owned

Locality :

Commercial

 

 

Warehouse :

1505/3, Gala No. J-3, Ground Floor,  Phase – II, Shree Munisuvrat Complex,  Anjurphata, Rahanal, Bhiwandi, Thane -421302, Maharashtra, India

Area :

1800 Sq. Ft.

Location :

Owned

Locality :

Commercial

 

 

PARTNERS

 

Name :

Mr. Tushar Jain

Designation :

Partner

 

Flat 1001 Meru Tower, 10 th Floor, Sane Guruji Marg, Bellasis Road, Tardeo W, Mumbai-400034, Maharashtra, India

Date of Birth/Age :

20.03.1984

Qualification :

Graduate

Experience :

9 Years

 

 

Name :

Mr. Kapil Rathod

Designation :

Partner

 

Flat No. 52 Building, No. 1 Fifth Floor, Parijat Apartment, Mahavir Nagar, Kandivali W, Mumbai-400067, Maharashtra, India

Date of Birth/Age :

04.03.1979

Qualification :

Graduate

Experience :

13 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Copper Strips, Brass Strips, Tin Ingots, Lead Ingots, Zinc Ingots, Zinc Alloy Ingots, Aluminium Ingots, Aluminium Alloy Ingots, Nickel, etc. [Confirmed by Management]

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

·         Lead Ingots

·         Lead Shots

Countries :

·         Spain

·         Maldives

 

 

Imports :

 

Products :

·         Lead Ingots

·         Shg Zinc Ingots

·         Hg Zinc Ingots

Countries :

·         Dubai

·         Korea

·         Italy

·         United Kingdom

 

 

Terms :

 

Selling :

L/C, Cheque, Advance Payment and Credit (30 days, 60 days and 90 days)

 

 

Purchasing :

L/C, Cheque, Advance Payment and Credit (30 days, 60 days and 90 days)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Phoenix Industries Private Limited

Name of the Person (Designation):

Mr. Ramanand Sangai (Director)

Contact Number:

91-9821166620

Since how long known:

5 Years

Maximum limit dealt:

INR 10.000 Million (above)

Experience:

Payment Behaviour

Market Goodwill

Overall

Good

Good

Good

Remark

They gave us positive response about subject company. They are satisfied with their payment behaviour and market goodwill.

 

 

Customers :

End Users

Reference:

Gloster Cables Limited

Name of the Person (Designation):

Mr. Sudhakaran (Purchase Manager)

Contact Number:

91-9948149240

Since how long known:

6 Years

Maximum limit dealt:

INR 3.000 Million (Monthly)

Experience:

Product Quality

Delivery Behaviour

Overall

Good

Good

Good

Remark

They gave us positive response about subject company. They are satisfied with their product quality and delivery behaviour.

 

 

No. of Employees :

08 (Approximately) [In Office: 06 and In Branch: 02]

 

 

Bankers :

Banker Name :

Yes Bank Limited

Branch :

Ground and Mezzanine Floor, Shop No. G-01, 893 Notan Chamber Turner Road, Bandra (West), Mumabi-400050, Maharashtra, India

Person Name (With Designation) :

Mr. Kunal Jain (Relationship Manager)

Contact Number :

91-7506122933

Name of Account Holder :

AMEX RESOURCES

Account Number :

Not Divulged

Account Since (Date/Year of Account Opening) :

4 Years

Average Balance Maintained :

Not Divulged

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

Cash Credit=INR 95.000 Million

Account Operation :

Satisfactory

Remark :

Banker gave us satisfactory feedback about subject company. They are satisfied with their banking transaction.

 

 

Auditors :

 

Name :

Bafna Karia and Associates

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Collaborators :

Not Available

 

 

Membership :

Not Available

 

 

Sister Concern :

--

 


 

CAPITAL STRUCTURE

 

AS ON 31.03.2016

 

PARTICULARS

AMOUNT IN MILLION

Kapil Rathod

10.243

Tushar Jain

11.229

Total

21.472

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2016

31.03.2015

31.03.2014

SHAREHOLDERS FUNDS

 

 

 

1] Partner Capital

21.472

20.457

13.661

2] Reserves & Surplus

0.000

0.000

0.000

NETWORTH

21.472

20.457

13.661

LOAN FUNDS

 

 

 

1] Secured Loans

21.714

0.000

0.000

2] Unsecured Loans

19.546

9.846

9.446

TOTAL BORROWING

41.260

9.846

9.446

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

62.732

30.303

23.107

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

8.012

1.235

0.927

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

50.903

10.722

24.348

 

Sundry Debtors

59.700

74.538

34.763

 

Cash & Bank Balances

0.602

0.394

0.390

 

Other Current Assets

6.852

8.682

2.821

 

Loans & Advances

0.000

6.927

0.370

Total Current Assets

118.057

101.263

62.692

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

60.923

59.161

34.634

 

Other Current Liabilities

0.026

12.660

4.050

 

Provisions

2.388

0.374

1.828

Total Current Liabilities

63.337

72.195

40.512

Net Current Assets

54.720

29.068

22.180

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

62.732

30.303

23.107

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

 

SALES

 

 

 

 

 

Sales

599.833

491.151

626.602

 

 

Other Income

0.492

2.085

5.282

 

 

TOTAL                                    

600.325

493.236

631.884

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

574.265

472.049

602.718

 

 

Audit Fees

0.000

0.101

0.101

 

 

Bank Charges

2.017

1.248

0.558

 

 

Bank Interest

0.930

1.268

4.747

 

 

Commission Paid

0.596

2.475

5.172

 

 

Conveyance Expenses

0.170

0.126

0.127

 

 

Discount and Rate Difficers

0.000

0.383

0.080

 

 

Advertisement

0.000

0.005

0.000

 

 

Electricity Charges

0.064

0.010

0.008

 

 

Forex Control Charges

0.000

0.004

0.031

 

 

Freight Charges

1.510

1.119

1.060

 

 

General Expenses

0.082

0.058

0.000

 

 

Hemali and Packing Expense

0.543

0.332

0.789

 

 

Insurance Charges

0.193

0.046

0.025

 

 

Interest Paid

2.424

1.383

1.472

 

 

Internet Expenses

0.002

0.020

0.000

 

 

Packing Expenses

0.910

0.512

0.000

 

 

Office Rent

0.278

0.406

0.210

 

 

Postage & Courier Expenses

0.046

0.035

0.038

 

 

Printing & Stationery

0.055

0.044

0.032

 

 

Professional Fees

0.265

0.039

0.037

 

 

Profession Tax

0.000

0.005

0.000

 

 

Salary & Bonus

3.452

3.150

3.535

 

 

Repairs & Maintainace

0.008

0.004

0.090

 

 

Sales Promotion Expenses

0.667

0.109

0..922

 

 

Service Tax

0.126

0.073

0.221

 

 

Other Expenses

4.213

1.337

3.783

 

 

TOTAL                                    

592.816

486.341

625.756

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION

7.509

6.895

6.128

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.098

0.124

0.201

 

 

 

 

 

 

NET PROFIT/ (LOSS)

7.411

6.771

5.927

 

Particulars

 

 

 

31.03.2017

Sales Turnover (Approximately)

 

 

970.000

 

 

 

 

 

The above information has been parted by Mr. Kapil Rathod (Partner)

 

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

36.33

55.39

20.25

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

10.05

6.59

18.02

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

38.59

45.62

20.95

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.15

0.64

0.25

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.94

5.58

6.61

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.83

0.80

0.79

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.92

0.48

0.69

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

3.86

4.01

3.66

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.37

0.06

0.07

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

0.00

0.00

0.00

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

31.03.2014

PAT to sales Income

((PAT /sales) * 100)

%

1.24

1.38

0.95

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

5.88

6.61

9.32

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

34.51

33.10

43.39

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

1.42

1.23

1.25

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.81

1.10

0.77

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.17

0.20

0.21

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

1.92

0.48

0.69

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.42

1.23

1.25

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

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Partners Capital

13.661

20.457

21.472

Reserves & Surplus

0.000

0.000

0.000

Net worth

13.661

20.457

21.472

 

 

 

 

Secured Loans

0.000

0.000

21.714

Unsecured Loans

9.446

9.846

19.546

Total borrowings

9.446

9.846

41.260

Debt/Equity ratio

0.691

0.481

1.922

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Sales

626.602

491.151

599.833

 

 

(21.617)

22.128

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Sales

626.602

491.151

599.833

Profit

5.927

6.771

7.411

 

0.95%

1.38%

1.24%

 

 

 

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)

Yes

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

Yes

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 four 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

Litigations that the firm/promoter involved in

--

32

Market information

--

33

Payments terms

Yes

34

Negative Reporting by Auditors in the Annual Report

No

 


 

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 64.28

UK Pound

1

INR 89.02

Euro

1

INR 78.93

 

 

INFORMATION DETAILS

 

Information Gathered by :

GAY

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NKTS

 


 

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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

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.