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|
MIRA INFORM REPORT
|
Report No. : |
491758 |
|
Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
YASH AGROKEM SYSTEM LLP |
|
|
|
|
Registered
Office : |
S.No. 268/1, Building No. CI, Flat No. 24, Phase I, Shri Swami Samarth Nagar, Link Road, Chinchwad, Pune-411033, Maharashtra |
|
Mobile No : |
91-9096375014 (Mr. Deepak Bendale) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
13.04.2016 |
|
|
|
|
LLPIN : |
AAG-1731 |
|
|
|
|
Total
Obligation of Contribution: |
INR 1.059 Million |
|
|
|
|
IEC No.: |
3116906793 |
|
|
|
|
GSTIN : |
27AABFY7499Q1ZX |
|
|
|
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PAN No.: [Permanent Account No.] |
AABFY7499Q |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Trader and Importer of Water Soluble Fertilizers. (Confirmed by
Management) |
|
|
|
|
No. of Employees
: |
01 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Relatively New Business |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
-- |
|
|
|
|
Comments : |
Subject is a relatively new limited liability firm (LLP) which was
established during April 2016. As per financials of March 2017, the subject has commenced its
business operations. Rating takes into consideration the subject’s limited track record of
business operation along with moderate capital base and below average
liquidity position. Payments seems to be slow. In view of aforesaid, the
subject can be considered for business dealings at safe secured trade terms
and condition. |
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 15.02.2018
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. Deepak Bendale |
|
Designation : |
Designed Partner |
|
Contact No.: |
91-909637514 |
|
Date : |
12.02.2018 |
LOCATIONS
|
Registered Office : |
S.No. 268/1, Building No. CI, Flat No. 24, Phase I, Shri Swami Samarth Nagar, Link Road, Chinchwad, Pune-411033, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9096375014 (Mr. Deepak Bendale) |
|
Fax No.: |
Not Available |
|
E-Mail : |
PARTNERS
As on: 31.03.2017
|
Name : |
Mr. Deepak Yashwant Bendale |
|
Designation : |
Designated Partner |
|
Address : |
C1/24, Shree Swami Samarth Nagar, Chinchwad, Pune – 411033, Maharashtra, India |
|
Date of Birth/Age : |
03.03.1984 |
|
PAN No: |
ARSPB8871B |
|
Aadhar No : |
5059 4851 6950 |
|
Date of Appointment : |
13.04.2016 |
|
DPIN No.: |
07029253 |
|
|
|
|
Name : |
Mrs. Reshma Bendale |
|
Designation : |
Designated Partner |
|
Address : |
C1/24, Shree Swami Samarth Nagar, Chinchwad, Pune – 411033, Maharashtra, India |
|
Date of Birth/Age : |
03.12.1983 |
|
PAN No: |
BUBPB6405Q |
|
Aadhar No : |
5862 6028 8200 |
|
Date of Appointment : |
13.04.2016 |
|
DPIN No.: |
07431761 |
|
|
|
|
Name : |
Mr. Vipin L. Bendale |
|
Designation : |
Partner |
|
Address : |
Plot No. 13, Kalpataru Niwas, Swami Samarth Mandir,
Javal Dhage Colony, |
|
Date of Birth/Age : |
17.08.1968 |
|
PAN No: |
ABRPB9342C |
|
Date of Appointment : |
13.04.2016 |
OBLIGATION DETAILS
As on: 31.03.2017
|
Names of Parson |
Obligation
of Contribution (INR In Million) |
|
Reshma Bendale |
0.030 |
|
Deepak Yashwant Bendale |
0.030 |
|
Vipin L Bendale |
0.040 |
|
|
0.100 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Water Soluble Fertilizers. (Confirmed by
Management) |
|
|
|
|
Products : |
Soluble Fertilizers |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Advance Payment and Credit |
|
|
|
|
Purchasing : |
Advance Payment and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
01 (Approximately) |
||||||||||||||||||||||
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Sarode Firake and Company Chartered Accountants |
|
Address : |
2666/A, Near Saibaba Mandir, Jilha Peth, Jalgaon-425001, Maharashtra, India |
|
Tel. No.: |
91-257-2238703 |
|
Mobile No.: |
91-9823796232 |
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E-Mail : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Sister Concern : |
Laxmi Narayan Krushi Agencies |
CAPITAL STRUCTURE
As on 31.03.2017
PARTNER’S CAPITAL
ACCOUNT
FIXED CONTRIBUTION
(INR in Million)
|
Particulars |
Amount |
|
Deepak Yashwant Bendale |
0.030 |
|
Reshma Deepak Bendale |
0.030 |
|
Vipin Liladhar Bendale |
0.040 |
|
TOTAL |
0.100 |
CURRENT CONTRIBUTION
(INR in Million)
|
Particulars |
Amount |
|
Deepak Yashwant Bendale |
0.469 |
|
Reshma Deepak Bendale |
0.286 |
|
Vipin Liladhar Bendale |
0.204 |
|
TOTAL |
0.959 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2017 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner's Capital |
|
|
1.059 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.059 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
6.216 |
|
|
TOTAL
BORROWING |
|
|
6.216 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7.275 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.131 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
8.354 |
|
|
Sundry Debtors |
|
|
3.284 |
|
|
Cash & Bank Balances |
|
|
0.441 |
|
|
Other Current Assets |
|
|
1.360 |
|
|
Loans & Advances |
|
|
0.022 |
|
Total
Current Assets |
|
|
13.461 |
|
|
Less : CURRENT LIABILITIES &
PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
6.173 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.144 |
|
Total
Current Liabilities |
|
|
6.317 |
|
|
Net
Current Assets |
|
|
7.144 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7.275 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
5.264 |
|
|
Other Income |
|
|
0.000 |
|
|
TOTAL
|
|
|
5.264 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
11.682 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
(8.354) |
|
|
Consumption of Packing
Material |
|
|
0.211 |
|
|
Personnel Expenses |
|
|
0.056 |
|
|
Trading Expenses |
|
|
0.987 |
|
|
Payment to Auditors |
|
|
0.010 |
|
|
Other expenses |
|
|
0.576 |
|
|
TOTAL |
|
|
5.168 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
0.096 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
0.079 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.017 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
0.017 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
0.000 |
Expected Sales (2016-2017): INR 20.000 Million (Approximately) (Due to
business growth)
The above information has been parted by Mr. Deepak Bandale (Proprietor)
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
|
|
227.71 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
|
|
1.60 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
192.87 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
0.01 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
0.73 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
0.92 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
5.87 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
11.83 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.12 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
1.22 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
0.00 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
|
1.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
0.41 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.08 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
5.87 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
1.07 |
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
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% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last one year |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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
|
PARTICULARS |
|
31.03.2017 (INR
in Million) |
|
|
|
|
|
Mohini Rajendra Kulkarni, |
|
0.545 |
|
Narayan Shashikant Chaudhari |
|
2.150 |
|
Rajendra Pandit Kulkarni |
|
0.221 |
|
Ramesh G. Mahajan |
|
2.800 |
|
Santosh Kadu Bendale |
|
0.500 |
|
Total |
|
6.216 |
INDEX OF CAHREGS:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
M04592317 |
100112652 |
VIJAYA BANK |
11/07/2017 |
7500000.0 |
CTS NO-1631, NEAR MUNICIPAL COUNCIL OFFICE SAVDA, TALUKA-RAVER, AT POST SAAVDA SAVADA JALGAON MH 425502 IN |
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 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 64.12 |
|
|
1 |
INR 89.17 |
|
Euro |
1 |
INR 79.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
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 |
YES |
|
--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.