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|
MIRA INFORM REPORT
|
Report No. : |
492396 |
|
Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PASSION AUTOMATION AND ENGINEERING LLP |
|
|
|
|
Registered
Office : |
Plot No. H-2/14, MIDC, Ambad, Nashik – 422010, Maharashtra |
|
Mobile No.: |
91-7038825453 [Mr. Raj] |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Establishment : |
12.09.2016 |
|
|
|
|
Capital
Investment : |
INR 1.348 Million |
|
|
|
|
LLPIN : |
AAH-3785 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable (As informed by the management that firm
does not have export and import) |
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|
|
|
TIN No.: |
27231432948 |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
27AATFP0982D1ZX |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AATFP0982D |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
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|
|
|
Line of Business
: |
·
Manufacturing of Machinery and Equipments ·
Subject is an Automation, Repairs and Maintenance
Workshop. [Registered
Activity] ·
Manufacturing of Equipments used in Food and
Pharmaceutical companies and Providing Services for Turnkey Projects. [Confirmed by management] |
|
|
|
|
No. of Employees
: |
14 (Approximately) |
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject was incorporated in the year 2016. It is engaged in manufacturing
of equipments used in food and pharmaceutical industry. It is also service
provider of turnkey projects. As per the financial of 2017, the subject has achieved sales turnover
of INR 4.159 million. The overall financial position of the subject seems to be moderate
marked by average capital base along with debt free balance sheet profile and
modest profitability margin. Payment seems to be slow but correct. In view of aforesaid, the subject 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 24.02.2018.
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. Ganesh Sudhakar Petkar |
|
Designation : |
Designated Partner |
|
Contact No.: |
91-8149709400 |
|
Date : |
17.02.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. H-2/14, MIDC, Ambad, Nashik – 422010, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-7038825453 [Mr. Raj] 91-8149709400 [Mr. Ganesh] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
3000 Sq. Ft. |
|
Location : |
Rented |
|
Locality: |
Industrial |
PARTNERS
|
Name : |
Mr. Deepali Manik Aher |
|
Designation : |
Designated Partner |
|
Address : |
Devla Road, Niwane Kalwan, Nashik – 423501, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1979 |
|
Date of Appointment : |
12.09.2016 |
|
DPIN No.: |
07591394 |
|
|
|
|
Name : |
Mrs. Kamal Rodu Suryawanshi |
|
Designation : |
Designated Partner |
|
Address : |
Aarai Aarai, Satana, Nashik – 423301, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1957 |
|
Date of Appointment : |
12.09.2016 |
|
DPIN No.: |
07591412 |
|
|
|
|
Name : |
Mr. Ganesh Sudhakar Petkar |
|
Designation : |
Designated Partner |
|
Address : |
Ganaraj Apartment, B-1 Samarth Nagar, Avhad Mala, Pathardi Fata, CIDC, Nashik – 422003, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1980 |
|
Date of Appointment : |
12.09.2016 |
|
DPIN No.: |
07591453 |
|
|
|
|
Name : |
Ms. Kavita Chetan Chavan |
|
Designation : |
Designated Partner |
|
Address : |
Ganaraj Apartment, B-1 Samarth Nagar, Avhad Mala, Pathardi Fata, CIDC, Nashik – 422003, Maharashtra, India |
|
Date of Appointment : |
12.09.2016 |
|
DPIN No.: |
07591606 |
CONTRIBUTION DETAILS
|
Names of Persons |
INR in Million |
|
Ganesh Sudhakar Petkar |
0.025 |
|
Kamal Rodu Suryawanshi |
0.025 |
|
Deepali Manik Aher |
0.025 |
|
Kavita Chetan Chavan |
0.025 |
|
Total |
0.100 |
BUSINESS DETAILS
|
Line of Business : |
·
Manufacturing of Machinery and Equipments ·
Subject is an Automation, Repairs and Maintenance
Workshop. [Registered
Activity] ·
Manufacturing of Equipments used in Food and
Pharmaceutical companies and Providing Services for Turnkey Projects. [Confirmed by management] |
|
|
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|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
14 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Rakesh Jagtap and Company Chartered Accountants |
|
Address : |
Nashik, Maharashtra, India |
|
Membership No.: |
148172 |
|
Firm
Registration No.: |
136444W |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Sister Concern : |
Not Divulged |
CONTRIBUTION
As On 31.03.2017
|
Total Obligation of contribution |
INR 1.348 Million |
FINANCIAL DATA
[all figures are
in INR Million]
|
Particulars |
|
|
April 2017 to January 2018 |
|
Sales Turnover (Approximately) |
|
|
7.000 |
|
|
|
|
|
The above information has been parted by Ganesh Petkar [Designated
Partner]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital A/c |
|
|
1.348 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.348 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL
BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1.348 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.269 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.060 |
|
|
Sundry Debtors |
|
|
2.804 |
|
|
Cash & Bank Balances |
|
|
0.245 |
|
|
Other Current Assets |
|
|
0.014 |
|
|
Loans, Advances and Deposits |
|
|
0.327 |
|
Total Current Assets |
|
|
3.450 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1.877 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.494 |
|
Total Current Liabilities |
|
|
2.371 |
|
|
Net Current
Assets |
|
|
1.079 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1.348 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
4.159 |
|
|
Other Income |
|
|
0.000 |
|
|
Closing Stock |
|
|
0.060 |
|
|
TOTAL |
|
|
4.219 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchase |
|
|
2.680 |
|
|
Labour Charges Paid |
|
|
0.127 |
|
|
Wages Paid |
|
|
0.536 |
|
|
Accounting Charges Paid |
|
|
0.020 |
|
|
Audit & Consultation
Fee |
|
|
0.018 |
|
|
Interest Paid to Partners |
|
|
0.066 |
|
|
Office Expenses |
|
|
0.041 |
|
|
Packing & Forwarding |
|
|
0.000 |
|
|
Power & Fuel Expenses |
|
|
0.008 |
|
|
Printing & Stationary |
|
|
0.000 |
|
|
Remuneration Paid to
Partners |
|
|
0.164 |
|
|
Repairing &
Maintenance |
|
|
0.010 |
|
|
Salary Paid |
|
|
0.217 |
|
|
Shop Rent |
|
|
0.072 |
|
|
Telephone & Fax
Expenses |
|
|
0.015 |
|
|
Transportation Expenses |
|
|
0.050 |
|
|
Travelling and Conveyance
expenses |
|
|
0.035 |
|
|
Vat Reg Fees |
|
|
0.005 |
|
|
TOTAL |
|
|
4.064 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
0.155 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
0.022 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
0.133 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
0.044 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
0.089 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
|
246.08 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
1.48 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
255.64 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
2.58 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
0.58 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
0.64 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
1.76 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.20 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
7.05 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
|
2.14 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
2.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
6.60 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
|
1.46 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
1.43 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
1.46 |
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 |
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 |
No |
|
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 |
Yes |
|
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 about 6
months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last about 6 months |
Yes |
|
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 |
Note: The registered address of the company has been shifted
from “Plot
No. A-36, MIDC Ambad Nashik - 422010, Maharashtra, India” to the present
registered address but the same has not been updated
in the Government registry.
INDEX OF CHARGE: NO
CHARGES EXISTS FOR LLP
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 64.82 |
|
|
1 |
INR 79.94 |
|
Euro |
1 |
INR 90.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
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.