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|
MIRA INFORM REPORT
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Report No. : |
482922.2 |
|
Report Date : |
03.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
LATEST ENTERPRISES |
|
|
|
|
Registered
Office : |
31/1, D -1, D-2, Pragati Vihar, Civil Lines, (U. S. Nagar), Rudrapur – 263153, Uttarakhand |
|
Mobile No.: |
91-9837312170 [Aamir Husain] |
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Country : |
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Financials (as
on) : |
31.03.2017 [Unaudited] |
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Year of
Establishment : |
November, 2015 |
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|
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Capital
Investment / Paid-up Capital : |
INR 1.878 Million |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm
does not have export and import) |
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|
|
|
GSTIN No.: |
05ADVPH9530Q1ZP |
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|
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TIN No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
ADVPH9530Q |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Trader of
Veterinary Medicine. [Confirmed by management] |
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|
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No. of Employees
: |
2 (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 |
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Maximum Credit Limit : |
USD 5400 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Latest Enterprises is a proprietorship firm established in the year 2015. It is a trader of Veterinary Medicine. As per the unaudited financial of 2017, the concern has achieved a massive growth in its revenue as compared to previous year and has reported healthy profit margin of 17.56%. The moderate financial profile of the firm is marked by modest capital base along with negligible debt level. Rating is constrained on account of limited track record of the firm. Payments are reported to be slow but correct. In view of aforesaid, the firm can be considered for business dealings with some caution. Note: Site Visit was conducted at the given address and our executive has successfully traced the subject on the given address. At the premises our executive met Mr. Aamir Husain (Proprietor) and he confirmed that subject is situated at the given address. During the site visit our executive also enquired with Mr. Ajay Anand (Ajay Anand and Associates) and Mr. Masrur Ali (Asian Computers) and they confirmed that subject is situated on the given address. As per our executive’s observation, it is a 3 storey building and the subject situated on the ground floor. Location was easy to find and locality appears to be commercial. Area seems to be neutral. Total area of premises is (3150) sq.ft and 05 employees were sighted at the premises. Name board of the subject was sighted on the 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 |
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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 03.01.2018.
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. Aamir Husain |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9837312170 |
|
Date : |
28.12.2017 |
LOCATIONS
|
Registered Office : |
31/1, D -1, D-2, Pragati Vihar, Civil Lines, (U. S. Nagar), Rudrapur – 263153, Uttarakhand, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9837312170 [Aamir Husain] |
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Fax No.: |
Not Available |
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E-Mail : |
|
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Area: |
3150 Sq. Ft. [As per site visit] |
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Location : |
Owned |
|
Locality : |
Commercial |
SOLE PROPRIETOR
|
Name : |
Mr. Aamir Husain |
|
Designation : |
Proprietor |
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Date of Birth: |
01.07.1987 |
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PAN No.: |
ADVPH9530Q |
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Aadhar Card No.: |
3471 5698 8412 |
BUSINESS DETAILS
|
Line of Business : |
Trader of
Veterinary Medicine. [Confirmed by management] |
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|
|
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Products/ Services : |
Veterinary
Medicine |
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|
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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 : |
Credit [30 Days] |
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Purchasing : |
Credit [30 Days] |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
2 (Approximately) |
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Bankers : |
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Auditors : |
|
|
Name : |
Mr. Amit Arora Chartered Accountant |
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Collaborators : |
Not Available |
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Membership : |
Not Available |
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Sister Concern : |
Latest Medico Agencies |
CAPITAL STRUCTURE
AS ON 31.03.2017
|
Capital Investment : |
|
|
Owned : |
INR 1.878 Million |
|
Borrowed : |
-- |
|
Total : |
INR 1.878 Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
|
|
|
[Unaudited] |
|
|
SHAREHOLDERS FUNDS |
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|
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1] Proprietor’s Capital |
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|
1.878 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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|
0.000 |
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4] (Accumulated Losses) |
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|
0.000 |
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NETWORTH |
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|
1.878 |
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LOAN FUNDS |
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1] Secured Loans |
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|
0.392 |
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2] Unsecured Loans |
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|
0.200 |
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TOTAL
BORROWING |
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|
0.592 |
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DEFERRED TAX LIABILITIES |
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|
0.000 |
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TOTAL |
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2.470 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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|
0.684 |
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Capital work-in-progress |
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|
0.000 |
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|
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INVESTMENT |
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|
0.342 |
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DEFERRED TAX ASSETS |
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|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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|
0.521 |
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Sundry Debtors |
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|
0.051 |
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Cash & Bank Balances |
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|
1.632 |
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Other Current Assets |
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|
0.000 |
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Loans & Advances |
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|
0.000 |
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Total Current Assets |
|
|
2.204 |
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Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
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|
0.501 |
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Other Current Liabilities & Provisions |
|
|
0.259 |
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Total Current Liabilities |
|
|
0.760 |
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Net Current
Assets |
|
|
1.444 |
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MISCELLANEOUS EXPENSES |
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|
0.000 |
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|
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TOTAL |
|
|
2.470 |
|
Note: Balance Sheet for the year 2016 is not available only Profit & Loss A/c is available.
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
[Unaudited] |
|
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|
SALES |
|
|
|
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Income |
|
1.327 |
0.206 |
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Other Income |
|
0.417 |
0.401 |
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TOTAL |
|
1.744 |
0.607 |
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|
|
|
|
|
Less |
EXPENSES |
|
|
|
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|
Cost of Materials
Consumed |
|
1.083 |
0.164 |
|
|
Bank charges and
Commission |
|
0.008 |
0.005 |
|
|
Car insurance |
|
0.024 |
0.000 |
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Cash Discount |
|
0.029 |
0.006 |
|
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Communication expenses |
|
0.013 |
0.011 |
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Freight |
|
0.017 |
0.008 |
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Hotel and Boarding
Expenses |
|
0.006 |
0.002 |
|
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Misc. Expenses |
|
0.000 |
0.012 |
|
|
Office expenses |
|
0.006 |
0.008 |
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Packing expenses |
|
0.017 |
0.012 |
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Salary and Wages |
|
0.072 |
0.036 |
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Shop rent |
|
0.061 |
0.018 |
|
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Telephone and mobile
expenses |
|
0.007 |
0.000 |
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Traveling expenses |
|
0.005 |
0.026 |
|
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TOTAL |
|
1.348 |
0.308 |
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PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
0.396 |
0.299 |
|
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|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
0.043 |
0.014 |
|
|
|
|
|
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|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
0.353 |
0.285 |
|
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|
|
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|
Less |
DEPRECIATION/
AMORTISATION |
|
0.120 |
0.060 |
|
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|
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|
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|
NET PROFIT/ (LOSS) |
|
0.233 |
0.225 |
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 |
31.03.2016 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
|
14.03 |
NA |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
26.02 |
NA |
|
|
|
|
|
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Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
168.85 |
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
0.76 |
NA |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
0.58 |
NA |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
0.42 |
NA |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
0.32 |
NA |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
0.51 |
NA |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
0.36 |
NA |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
9.21 |
21.36 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
|
17.56 |
109.22 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
7.21 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
12.41 |
NA |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
2.30 |
NA |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
|
1.75 |
NA |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
0.58 |
NA |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
0.32 |
NA |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
2.30 |
NA |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR In
Million |
|
Sales
|
0.206 |
1.327 |
|
|
|
544.175 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
0.206 |
1.327 |
|
Profit |
0.225 |
0.233 |
|
|
109.22% |
17.56% |
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 |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
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 one year and
four months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year and four
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 |
|
OBSERVATION POINTS |
|
Name of Company : |
LATEST ENTERPRISES |
|
|
|
|
Address : |
31/1, D -1, D-2, Pragati Vihar, Civil Lines, (U. S. Nagar), Rudrapur – 263153, Uttarakhand, India |
|
|
|
|
Contact No.: |
91-9719590900 |
|
|
|
|
Email: |
|
|
|
|
|
Person to whom we met: |
Mr. Aamir Husain Hotel |
|
|
|
|
Designation : |
Proprietor |
|
|
|
|
Name Board : |
Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark (If Any): |
Near Mid Town |
|
|
|
|
Total Floors of the building: |
3 |
|
|
|
|
Subject situated on: |
Ground Floor |
|
|
|
|
Locality: |
Commercial |
|
|
|
|
Area of premises : |
3150 Sq. Ft. |
|
|
|
|
Area : |
Neutral |
|
|
|
|
No. of employees seen at premises: |
5 |
|
|
|
|
Visibility of
Items: |
·
Telephone ·
Computers ·
Air Conditioner ·
Office Equipment ·
Xerox Machine |
|
|
|
|
Furniture Item
Sighted: |
Table, Chairs, Stools, etc. |
|
|
|
|
Sister concerns (Other
Name on Name Board): |
Latest Medico Agencies |
|
|
|
|
Neighbour’s
Interview: |
|
|
Name of Company: |
Ajay Anand and Associates |
|
Contact Person
Name: |
Ajay Anand [91-7895504004] |
|
|
|
|
Name of Company: |
Asian Computers |
|
Contact Person Name: |
Mr. Masrur Ali [91-9897672547] |
|
|
|
|
Neighbour’s
Overview: |
During the site visit our executive also enquired with Mr. Ajay Anand (Ajay Anand and Associates) and Mr. Masrur Ali (Asian Computers) and they confirmed that subject is situated on the given address. |
|
|
|
|
Proof of visit: |
Photograph/ Visiting Card |
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 63.67 |
|
|
1 |
INR 86.11 |
|
Euro |
1 |
INR 76.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
PUJ |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
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.