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MIRA INFORM REPORT
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Report No. : |
492188 |
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Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
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Name : |
MYGENE LIFE SOLUTIONS LLP |
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Registered
Office : |
LG-12, Westend Plaza, Kapashera, South Delhi, New Delhi - 110037 |
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Tel. No.: |
91-11-25063168 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
27.08.2014 |
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Total Obligation
of Contribution : |
INR 0.010 Million |
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LLPIN : |
AAC-6389 |
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GST No.: |
07AAZFM3339B1Z3 |
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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.] |
AAZFM3339B |
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Legal Form : |
Limited Liability Partnership Firm |
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Line of Business
: |
·
Trader of Chemicals and Chemical Product. [Confirmed by
Management] · The principle activities of LLP are Import, Export, Marketing, Trading and Distribution of laboratory instruments & chemicals related to biotechnology and life sciences provide consultancy and service. [Registered Activity] |
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|
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No. of Employees
: |
08 (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 |
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Maximum Credit Limit : |
USD 39200 |
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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 : |
Mygene Life Solutions LLP was incorporated in the year 2014. It is a Trader of Chemicals and Chemical Product. For the financial year 2017, the subject has achieved a massive growth
in its revenue as compared to previous year and has reported fair profit
margin of 23.63%. The satisfactory financial profile of the firm marked by confortable
capital base along with strong debt coverage indicators due to low debt
balance sheet profile. Business is active. Payment seems to be usually correct. In view of aforesaid, the subject 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 (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
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 16.02.2018
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. Brij Singh |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-7530803008 |
|
Date : |
15.02.2018 |
Given number [0112506318]
incorrect number
LOCATIONS
|
Registered Office : |
LG-12, Westend Plaza, Kapashera, South Delhi, New Delhi – 110037,
India |
|
Tel. No.: |
91-11-25063168 |
|
Mobile No.: |
91-7530303008 (Mr. Brij Singh) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Locality : |
Commercial |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Suruchika Soni |
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Designation : |
Designated Partner |
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Address : |
Bg-5/44-A, Paschim Vihar, Near Cremenation Ground,
Delhi-110063, India |
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Date of Birth/Age : |
24.12.1979 |
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Date of Appointment : |
27.08.2014 |
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DPIN No.: |
06922323 |
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Other Directorship : LIST OF COMPANIES
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Name : |
Mrs. Meena Yadav |
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Designation : |
Designated Partner |
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Address : |
439, Sector – 21, Urban Estate, Gurgaon-122016, Haryana,
India |
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Date of Birth/Age : |
08.10.1985 |
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Date of Appointment : |
27.08.2014 |
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DPIN No.: |
06933707 |
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KEY EXECUTIVES
|
Name : |
Mr. Brij Singh |
|
Designation : |
Accounts Manager |
CONTRIBUTION DETAILS
|
Names of Persons |
INR in Million |
|
Meena Yadav |
0.005 |
|
Suruchika Soni |
0.005 |
|
|
|
|
Total |
0.010 |
BUSINESS DETAILS
|
Line of Business : |
·
Trader of Chemicals and Chemical Product. [Confirmed by
Management] · The principle activities of LLP are Import, Export, Marketing, Trading and Distribution of laboratory instruments & chemicals related to biotechnology and life sciences provide consultancy and service. [Registered Activity] |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Cash, Advance Payment, Cheque and Credit [60,90 Days] and Others
[RTGS] |
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Purchasing : |
Cash, Advance Payment, Cheque and Credit [60,90 Days] and Others
[RTGS] |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesaler and Retailers
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No. of Employees : |
08 (Approximately) |
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Bankers : |
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Facilities : |
--- |
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Auditors : |
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Name : |
Mr. Satish Garg Chartered Accountant |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
|
Particular |
INR in Million |
|
|
|
|
Total Obligation of
Contribution: |
INR 0.010 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Contribution received |
0.010 |
0.010 |
0.010 |
|
|
2] Reserves & Surplus |
13.740 |
3.770 |
0.904 |
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NETWORTH |
13.750 |
3.780 |
0.914 |
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LOAN FUNDS |
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
3.849 |
2.500 |
0.000 |
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TOTAL BORROWING |
3.849 |
2.500 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
17.599 |
6.280 |
0.914 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.270 |
0.085 |
0.037 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.341
|
0.000
|
0.000 |
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Sundry Debtors |
5.004
|
9.510
|
0.765 |
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Cash & Bank Balances |
14.929
|
0.459
|
0.231 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
0.524
|
0.510
|
0.069 |
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Total
Current Assets |
25.798
|
10.479
|
1.065 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Sundry Creditors |
6.489
|
2.250
|
0.000 |
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Other Current Liabilities |
0.030
|
0.866
|
0.103 |
|
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Provisions |
2.950
|
1.168
|
0.085 |
|
Total
Current Liabilities |
9.469
|
4.284
|
0.188 |
|
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Net Current Assets |
16.329
|
6.195
|
0.877 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
17.599 |
6.280 |
0.914 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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SALES |
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|
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Revenue from Operations |
56.408 |
12.027 |
0.680 |
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Other Income |
0.207 |
2.606 |
0.000 |
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TOTAL (A) |
56.615 |
14.633 |
0.680 |
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ (decrease) in stocks [including for raw materials, work in
progress and finished goods] |
(5.341) |
0.000 |
0.000 |
|
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|
Purchases made for re-sale |
43.254 |
8.829 |
0.605 |
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Payment to auditors |
0.030 |
0.029 |
0.005 |
|
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Insurance Expenses |
0.042 |
0.000 |
0.000 |
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Other Expenses |
5.132 |
4.031 |
0.066 |
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TOTAL (B) |
43.117 |
12.889 |
0.676 |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13.498 |
1.744 |
0.004 |
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|
Less |
FINANCIAL
EXPENSES (D) |
0.033 |
0.000 |
0.000 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.465 |
1.744 |
0.004 |
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.134 |
0.028 |
0.000 |
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|
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PROFIT BEFORE
TAX (E-F) (G) |
13.331 |
1.716 |
0.004 |
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|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
13.331 |
1.716 |
0.004 |
|
Expected Sales (2017-2018): INR 120.000 Million [Due to Business Growth]
The above information has been parted by Mr. Brij Singh [Accounts
Manager]
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
32.38 |
288.61 |
410.63 |
|
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|
|
Account Receivables Turnover (Income / Sundry Debtors) |
11.27 |
1.26 |
0.89 |
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Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
54.76 |
93.02 |
0.00 |
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Inventory Turnover (Operating Income / Inventories) |
2.53 |
0.00 |
0.00 |
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|
Asset Turnover (Operating Income / Net Fixed Assets) |
10.63 |
20.52 |
0.11 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.49 |
0.64 |
0.17 |
|
|
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|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.28 |
0.66 |
0.00 |
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Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.97 |
1.79 |
0.21 |
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Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.09 |
0.02 |
0.04 |
|
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|
Interest Coverage Ratio (PBIT / Financial Charges) |
409.03 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
23.63 |
14.27 |
0.59 |
|
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|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
49.25 |
16.24 |
0.36 |
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|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
96.95 |
45.40 |
0.44 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.94 |
1.54 |
5.66 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.54 |
1.54 |
5.66 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.51 |
0.36 |
0.83 |
|
|
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|
G-Score Ratio Debt (Debts / Equity Capital) |
384.90 |
250.00 |
0.00 |
|
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|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.94 |
1.54 |
5.66 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Contribution received |
0.010 |
0.010 |
0.010 |
|
Reserves & Surplus |
0.904 |
3.770 |
13.740 |
|
Net
worth |
0.914 |
3.780 |
13.750 |
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
2.500 |
3.849 |
|
Total
borrowings |
0.000 |
2.500 |
3.849 |
|
Debt/Equity
ratio |
0.000 |
0.661 |
0.280 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
0.680 |
12.027 |
56.408 |
|
|
|
1,668.676 |
369.011 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
0.680 |
12.027 |
56.408 |
|
Profit |
0.004 |
1.716 |
13.331 |
|
|
0.59% |
14.27% |
23.63% |
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three 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 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.92 |
|
UK Pound |
1 |
INR 89.55 |
|
Euro |
1 |
INR 79.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
IND |
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.