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%2013-Feb-2018_files/image009.jpg){kind=small}
%2013-Feb-2018_files/image010.jpg)
%2013-Feb-2018_files/image012.gif)
MIRA INFORM REPORT
|
Report No. : |
489055.2 |
|
Report Date : |
13.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
H. M. DISTRIBUTORS |
|
|
|
|
Registered
Office : |
E-3 / 112, Shraddha Complex, Arera Colony, Near 10 No Bus Stop, Bhopal - 462016, Madhya Pradesh |
|
Mobile No.: |
91-9893022224/ 9425022222 (Mr. Sanjay Soni) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Year of
Establishment : |
2000 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm does
not have export and import) |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Distributors of Mobile Phones. (Confirmed by
management) |
|
|
|
|
No. of Employees
: |
18 (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 60000 (INR 3853500.000) |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 2000 as proprietorship firm and it is having satisfactory track records. It is a distributor of mobile phones. For the financial year 2017, the firm has achieved healthy revenue from its operations and maintained minimal profitability margin of 0.76%. Rating takes into consideration firm’s sound financial profile marked by adequate capital base along with negligible debt balance sheet. The firm also derives strength from its long standing track records of business operation and healthy revenue profile during the year. Trade relations are reported as fair. Business is active. Payments are seems to be usually correct. The firm can be considered for business dealings at usual trade terms and condition. Note: Site visit was conducted at the registered address of the firm. Our executive has successfully traced the firm on the given address. At the premises our executive met to one of the employee of the firm but he denied to provide any information. As per our executive observation, location of the firm is easy to find. Landmark was SBI Bank. It is a 2 storey building and firm is situated on ground floor. Locality appears to be commercial. Area seems to be upmarket. Area of the premises was 400 (SQ.FT) 07 employees were sighted into premises. Name board of the firm was not sighted at the given address. Further, our executive also enquired from neighbours i.e. (Colosseum Gymnasiums) and (Avnipari’s Beauty Parlour) and they were also confirmed that firm exists on 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 13.02.2018
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. Sanjay Soni |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9893022224 |
|
Date : |
30.01.2018 |
LOCATIONS
|
Registered Office : |
E-3 / 112, Shraddha Complex, Arera Colony, Near 10 No Bus Stop, Bhopal - 462016, Madhya Pradesh, India |
|
Tel. No.: |
91-755-4246224 |
|
Mobile No.: |
91-9893022224/ 9425022222 (Mr. Sanjay Soni) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
400 Sq.ft ( As per site visit) |
|
Location : |
Owned |
|
Locality : |
Commercial |
SOLE PROPRIETOR
|
Name : |
Mr. Sanjay Soni |
|
Designation : |
Proprietor |
|
Qualification : |
B.Com |
BUSINESS DETAILS
|
Line of Business : |
Distributors of Mobile Phones. (Confirmed by
management) |
|
|
|
|
Products : |
Mobile
Phones |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Others (NEFT) |
|
|
|
|
Purchasing : |
Others (NEFT) |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers and End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
18 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Ayachit and Associates Chartered Accountants |
|
Membership No : |
78474 |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Membership : |
Not Available |
|
|
|
|
Sister Concern : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2017
PROPRIETOR
CAPITAL ACCOUNT
(INR IN MILLION)
|
Particulars : |
Amount |
|
Opening Balance
: |
INR 21.188 Million |
|
Add: Net Profit
: |
INR 3.693 Million |
|
Less : drawing : |
INR 3.788 Million |
|
Closings Balance |
INR
21.093 Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
EQUITY
AND LIABILITIES |
|
|
|
|
|
1] Share Capital |
|
|
21.093 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
21.093 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.435 |
|
|
TOTAL BORROWING |
|
|
0.435 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
21.528 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6.758 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.615 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
8.336 |
|
|
Sundry Debtors |
|
|
12.682 |
|
|
Cash & Bank Balances |
|
|
28.271 |
|
|
Other Current Assets |
|
|
88.237 |
|
|
Loans & Advances |
|
|
5.636 |
|
Total
Current Assets |
|
|
143.162 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
74.449 |
|
|
Other Current Liabilities |
|
|
55.558 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
130.007 |
|
|
Net Current Assets |
|
|
13.155 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
21.528 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
483.091 |
|
|
Other Income |
|
|
13.000 |
|
|
TOTAL
|
|
|
496.091 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
483.904 |
|
|
Direct Expenses |
|
|
3.139 |
|
|
Advertisement Expenses |
|
|
0.131 |
|
|
Audit Fees |
|
|
0.130 |
|
|
conveyance Expenses |
|
|
0.109 |
|
|
Courier Charges |
|
|
0.268 |
|
|
Entry Tax Expenses |
|
|
0.020 |
|
|
General Expenses |
|
|
0.004 |
|
|
Incentive |
|
|
0.033 |
|
|
Insurance Charged |
|
|
0.042 |
|
|
Misc. Expenses |
|
|
0.091 |
|
|
Office Expenses |
|
|
0.051 |
|
|
Printing and Stationery
Expenses |
|
|
0.020 |
|
|
rent paid |
|
|
0.272 |
|
|
Repair |
|
|
0.047 |
|
|
Salary |
|
|
2.302 |
|
Tour and travels |
|
|
0.344 |
|
|
|
Security Charged |
|
|
0.179 |
|
|
Vehicle Expenses |
|
|
0.014 |
|
|
TOTAL |
|
|
491.100 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
4.991 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
0.499 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
4.492 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
0.799 |
|
|
|
|
|
|
|
|
PROFIT/
FOR THE YEAR |
|
|
3.693 |
|
Particulars |
|
|
31.03.2016 |
|
Sales Turnover (Approximately) |
|
|
470.000 |
|
|
|
|
|
Expected Sales (2017-2018): INR 500.000 Million (Due to business growth)
The above information has been parted by Mr. Sanjay Soni (Proprietor)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry Debtors / Operating Income * 365
Days) |
|
|
9.58 |
|
|
|
|
|
|
Account Receivables Turnover (Operating Income
/ Sundry Debtors) |
|
|
38.09 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
|
55.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
|
0.60 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
0.74 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.86 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
0.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
6.18 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
0.32 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
10.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin ((PAT
/ Sales) * 100) |
% |
|
|
0.76 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
2.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
17.51 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.10 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
|
|
1.03 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.14 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
0.02 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
1.10 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2016 |
31.03.2017 |
|
|
|
INR
In Million |
INR
In Million |
|
Sales |
|
470.000 |
483.091 |
|
|
|
2.785 |
%2013-Feb-2018_files/image014.gif)
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 |
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
No |
|
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 |
|
OBSERVATION
POINTS |
|
Name : |
H. M. DISTRIBUTORS |
|
|
|
|
Address : |
E-3 / 112, Shraddha Complex, Arera Colony, Near 10 No Bus Stop, Bhopal - 462016, Madhya Pradesh, India |
|
|
|
|
Person to whom we met: |
Employee (Name not divulged) |
|
|
|
|
Name Board: |
Not Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark : |
Near State Bank of India |
|
|
|
|
Total Floors of the building: |
2 Floor |
|
|
|
|
Subject situated on : |
Ground Floor |
|
|
|
|
Locality: |
Commercial |
|
|
|
|
Area of premises : |
400 Sq.ft |
|
|
|
|
Area: |
Upmarket |
|
|
|
|
No. of employee
seen at premises : |
07 |
|
|
|
|
Visibility of
Item : |
·
Telephone ·
Computer ·
Air Conditioner ·
Office Equipment ·
Xerox Machine |
|
|
|
|
Sister Concern : |
Custom Home |
|
|
|
|
Furniture items
sighted : |
Table, Chair
etc. |
|
|
|
|
Neighbor’s
Interview : |
|
|
Name of Company
1: |
The Colosseum
Gymnasiums |
|
|
|
|
Name of Company
2: |
Avnipari’s
Beauty Parlour |
|
|
|
|
Proof of visit: |
Photographs |
UNSECURED LOAN
|
PARTICULARS |
|
31.03.2017 (INR
in Million) |
|
Ashok Agencies |
|
0.200 |
|
Sangatram Bhagwandas |
|
0.200 |
|
Sonal Construction |
|
0.035 |
|
Total |
|
0.435 |
Fixed
Asset
- Computers and Pheripherals
- Building
- Furniture and Fixture
- Vehicle
- Office Equipment
- Plant and
Machinery
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 : |
SHL |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
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Report Prepared
by : |
TRUP |
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 |
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.