|
|
|
MIRA INFORM REPORT
|
Report No. : |
483057 |
|
Report Date : |
05.01.2018 |
IDENTIFICATION
DETAILS
|
Name : |
UNITY MOTOR BODY |
|
|
|
|
Registered Office : |
7, Sadumia Estate, G D Ambedkar Marg, Kalachowki, Mumbai - 400033, Maharashtra |
|
Mobile No.: |
91-22-26123209 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Establishment : |
20.09.2015 |
|
|
|
|
Capital Investment : |
INR 2.136 Million |
|
|
|
|
IEC No.: |
Not Applicable [As informed by the management that firm does not have export and import] |
|
|
|
|
TIN No.: |
27191160303 |
|
|
|
|
GST No.: |
27AAEFU4938P1ZE |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAEFU4938P |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business : |
Manufacturer of Vehicles Body like Container, Pick Van, Gas Body, Trailers, etc. [Confirmed by Management] |
|
|
|
|
No. of Employees : |
10 [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 |
|
|
|
|
Comments : |
Subject was
established on 20th September 2015 and it is manufacturer of Vehicle Body. Mr. Sandesh
Vasant Susvirkar (Partner)
has provided information and he claimed that the subject has commenced its
business operations from January 2016. As per
financials of March 2017, the subject has achieved a sales turnover of INR
22.80 million and has reported average profit margin of 1.67%. Rating
takes into consideration the company’s limited track record of business
operations along with moderate capital base and average liquidity position. Payments
are reported to be slow but correct. In view
of aforesaid, the subject can be considered for business dealings with some
caution. NOTE 1 Earlier,
there were 3 partners in the firm i.e. Mr. Sandesh Vasant Susvirkar,
Mr. Amit Yashwant Ashnikar and
Mr. Atmaram Sawardekar.
Later, Mr. Atmaram Sawardekar (Partner) got exits from the firm on 1st January 2018.
Now, there are only 2 partners of the firm. Note 2: Site visit
was conducted at the given address which you have provided. Our executive has
successfully traced the subject at the given address. At the
premises, our executive met Mr. Sandesh Vasant Susvirkar (Partner) and he provided his
contact details (09987870022) As per our executive’s observation, it is a ground + 1storey building and subject is situated at the ground floor. Location was easy to find and locality seems to be residential. Area of the premises is 200 SQ FT and 4 employees were sighted at the premises. Landmark-
Shivram Seth Govind Lakkha. Name
board of the subject was not sighted at 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 |
|
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 05.01.2018.
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. Sandesh Vasant Susvirkar |
|
Designation : |
Partner |
|
Contact No.: |
91-9987870022 |
|
Date : |
04.01.2018 |
LOCATIONS
|
Registered Office : |
7, Sadumia Estate, G D Ambedkar Marg, Kalachowki, Mumbai - 400033, Maharashtra, India |
|
Tel. No.: |
91-22-26123209 |
|
Mobile No.: |
91- 9987870022 [Mr. Sandesh Vasant Susvirkar] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
300 Sq. Ft. |
|
Location : |
Rented |
|
Locality : |
Residential |
|
|
|
|
Head Office/
Factory : |
Plot No 185/2, Opposite, Dumba, Near Bharat Weight Kata,
Uran - Panvel Road, Jasai, T Uran, Navi Mumbai, Raigad - 400702, Maharashtra,
India |
|
Area : |
5000 Sq. Ft. |
|
Location : |
Rented |
|
Locality : |
Industrial |
PARTNERS
|
Name : |
Mr. Sandesh Vasant Susvirkar |
|
Designation : |
Partner |
|
Address : |
Flat No. 201, Anadi CHS Limited, Opposite Jayganga Bus Stop, Sector 2, Charkop, Kandivali (West), Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
14.01.1974 |
|
Qualification : |
B.E |
|
Experience : |
3 Years |
|
PAN No.: |
AQEPS7830E |
|
Aadhar No.: |
4986 9381 9290 |
|
Profile: |
He is age 43 Years (Son in law of Mr. Atmaram Sawardekar) being a B.E. Mechanical from Mumbai University has worked with renowned Titagarh Wagans Limited for 10 years as a regional head from 1996 to 2005. From 2005 till 2015 he carried out trading business of welding and bearing material. After formation of Unity Motor Body in 2015, he looks after overall operations of the firm. |
|
|
|
|
Name : |
Mr. Amit Yashwant Ashnikar |
|
Designation : |
Partner |
|
Address : |
902/ 903, Tulip Building, Everest World, Kolshet Road, Thane - 400607, Maharashtra, India |
|
Date of Birth/Age : |
20.09.1978 |
|
Qualification : |
B.E. |
|
Experience : |
3 Years |
|
PAN No.: |
ADSPA5146L |
|
Aadhar No.: |
7030 3605 5333 |
|
Passport No.: |
J1264657 |
|
Profile: |
He is age 39 Years (son inlaw of Mr. Atmaram Sawardekar) being a B.R. Mechanical from Pune University. After completing his studies, he handled his family business of distribution of medicines of NOVARTIES Pharma Company from year 2001 till 2010. From 2010 till 2015 he worked with Essilor India Private Limited as production manager. From January 2015, being a partner of Unity Motor Body he is handing design and marketing area of the firm. |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Vehicles Body like Container, Pick Van, Gas Body, Trailers, etc. [Confirmed by Management] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
RTGS and Cheque |
|
|
|
|
Purchasing : |
RTGS and Cheque |
GENERAL
INFORMATION
|
Suppliers : |
· Pankaj Hardware and Elect. Limited · M R Engineering |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Transportation Industry
· Kamal Motors · Bafna Motors |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
10 [Approximately] |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
S S. Kandre and Associates Chartered Accountants |
|
Address : |
D-7, Varadvinayak, CHS, Plot No. 931, Sector No. 9, Charkop, Kandivali (West), Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries
: |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2017
PARTNERS
CAPITAL ACCOUNT
|
Capital Investment
: |
INR in Million |
|
Atmaram Sawardekar |
0.020 |
|
Sandesh Vasant Susvirkar |
0.015 |
|
Amit Yashwant Ashnikar |
0.015 |
|
|
|
|
TOTAL |
0.050 |
PARTNERS
CURRENT ACCOUNT
MR. ATMARAM
SAWARDEKAR
|
Particulars |
INR in Million |
Particulars |
INR in Million |
|
To Drawings |
0.200 |
By Opening balance |
0.380 |
|
|
|
By Introduction |
0.200 |
|
To closing balance |
0.852 |
By Remuneration |
0.319 |
|
|
|
By share of profit |
0.153 |
|
Total |
1.052 |
Total |
1.052 |
MR. SANDESH VASANT SUSVIRKAR
|
Particulars |
INR in Million |
Particulars |
INR in Million |
|
To Drawings |
0.684 |
By Opening balance |
0.648 |
|
|
|
By Introduction |
0.686 |
|
To closing balance |
1.003 |
By Remuneration |
0.239 |
|
|
|
By share of profit |
0.114 |
|
Total |
1.687 |
Total |
1.687 |
MR. AMIT
YASHWANT ASHNIKAR
|
Particulars |
INR in Million |
Particulars |
INR in Million |
|
To Drawings |
0.570 |
By Opening balance |
0.198 |
|
|
|
By Introduction |
0.250 |
|
To closing balance |
0.231 |
By Remuneration |
0.239 |
|
|
|
By share of profit |
0.114 |
|
Total |
0.801 |
Total |
0.801 |
FINANCIAL DATA
[all figures are in INR Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital Account |
|
|
0.050 |
|
|
2] Partners Current Account |
|
|
2.086 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
NETWORTH |
|
|
2.136 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2.500 |
|
|
TOTAL BORROWING |
|
|
2.500 |
|
|
DEFERRED TAX
LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4.636 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.601 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
15.508 |
|
|
Sundry Debtors |
|
|
1.360 |
|
|
Cash & Bank Balances |
|
|
0.548 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1.029 |
|
Total Current Assets |
|
|
18.445 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
9.937 |
|
|
Other Current Liabilities |
|
|
4.214 |
|
|
Provisions |
|
|
0.259 |
|
Total Current Liabilities |
|
|
14.410 |
|
|
Net Current Assets |
|
|
4.035 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4.636 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
|
22.802 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
22.802 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
13.809 |
|
|
|
Labour charges |
|
|
5.539 |
|
|
|
Electricity |
|
|
0.336 |
|
|
|
Freight and transport |
|
|
0.046 |
|
|
|
Fuel exp. |
|
|
0.076 |
|
|
|
Hire charges |
|
|
0.180 |
|
|
|
Conveyance and travelling |
|
|
0.099 |
|
|
|
Telephone and mobile |
|
|
0.038 |
|
|
|
Salaries |
|
|
0.785 |
|
|
|
Security charges |
|
|
0.120 |
|
|
|
Printing and stationery |
|
|
0.007 |
|
|
|
Website exp. |
|
|
0.020 |
|
|
|
Office exp. |
|
|
0.016 |
|
|
|
Rent, rates and taxes |
|
|
0.180 |
|
|
|
Sales tax |
|
|
0.253 |
|
|
|
Prof. fees |
|
|
0.005 |
|
|
|
Audit fees |
|
|
0.025 |
|
|
|
Sales promotion exp. |
|
|
0.018 |
|
|
|
Sundry exp. |
|
|
0.006 |
|
|
|
Repairs and maintenance |
|
|
0.003 |
|
|
|
Remuneration to partners |
|
|
0.797 |
|
|
|
TOTAL |
|
|
22.358 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION |
|
|
0.444 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
0.009 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE DEPRECIATION AND AMORTISATION |
|
|
0.435 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
|
|
0.054 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
|
|
0.381 |
|
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
||
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
21.77 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
16.77 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
262.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
0.03 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
0.74 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
||
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
|
|
0.89 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
1.17 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
7.92 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.28 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
49.33 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
|
1.67 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
2.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
17.84 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
||
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.09 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
0.17 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.11 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
50.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
1.09 |
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 |
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) |
Yes |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
Yes |
|
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% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last one year |
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 : |
UNITY MOTOR BODY |
|
|
|
|
Address : |
7, Sadumia Estate, G D Ambedkar Marg, Kalachowki, Mumbai - 400033, Maharashtra, India |
|
|
|
|
Date of Visit : |
27.12.2017 |
|
|
|
|
Person to whom we
met: |
Mr. Sandesh Vasant Susvirkar (Partner) |
|
|
|
|
Name Board : |
Not Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark (If Any): |
Shivram Seth Govind Lakkha |
|
|
|
|
Total Floors of the
Building : |
Ground + 1st Floor |
|
|
|
|
Subject situated
on: |
Ground Floor |
|
|
|
|
Locality: |
Residential |
|
|
|
|
Area of Premises : |
200 Sq. Ft. |
|
|
|
|
Area : |
Upmarket |
|
|
|
|
No. of employees
seen at premises: |
04 (Approx.) |
|
|
|
|
Visibility of Items: |
· Telephone · Fax Machine · Computers · Office Equipment |
|
|
|
|
Furniture Items: |
Table and Chairs |
|
|
|
|
Proof of visit: |
Photos |
-----------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME
(INR IN MILLION)
|
Particulars |
|
Amount |
|
Income from business |
|
0.381 |
|
|
|
|
|
Net profit as
per profit and loss account |
|
0.797 |
|
Add:
Remuneration to partner debited to P & L a/c |
|
--------- |
|
Book profit |
|
1.178 |
|
|
|
|
|
Less:
Remuneration to partner allowable: |
|
|
|
Mr. Atmaram
Sawardekar |
0.319 |
|
|
Mr. Sandesh
Susvirkar |
0.239 |
|
|
Mr. Amit
Ashinkar |
0.239 |
|
|
|
--------- |
0.797 |
|
|
|
|
|
Taxable
income |
|
0.381 |
|
Rounded |
|
0.381 |
|
Income tax
payable |
|
0.114 |
|
Add:
Education cess @ 3% |
|
0.003 |
|
|
|
--------- |
|
Total Income
tax payable |
|
0.117 |
|
Less: TDC on
contract |
|
0.117 |
|
|
|
--------- |
|
Balance payable |
|
0.000 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
OPERATING STATEMENT
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
|
|
|
2017-18 [Estimated] |
2018-19 [Projected] |
|
Operating statement |
|
|
|
a) Domestic
sale |
80.000 |
85.000 |
|
b) Export
sale |
-- |
-- |
|
Total gross sales |
80.000 |
85.000 |
|
|
|
|
|
Less: Excise
duty |
-- |
-- |
|
|
|
|
|
Net sales |
80.000 |
85.000 |
|
|
|
|
|
Growth in sales |
251% |
6% |
|
|
|
|
|
COST OF SALES |
|
|
|
Raw material |
|
|
|
Imported |
-- |
-- |
|
Indigenous |
70.500 |
69.000 |
|
|
|
|
|
Stores and
spares |
|
|
|
Imported |
-- |
-- |
|
|
|
|
|
Indigenous |
-- |
-- |
|
Power and
fuel |
0.800 |
0.800 |
|
|
|
|
|
Direct labour
|
9.000 |
10.000 |
|
|
|
|
|
Repair and
maintenance |
0.004 |
0.005 |
|
Other mfg.
exp. |
-- |
-- |
|
|
|
|
|
Depreciation |
0.050 |
0.046 |
|
|
|
|
|
Others exp. |
1.500 |
1.900 |
|
|
|
|
|
a) Rent and
taxes |
0.700 |
0.900 |
|
|
|
|
|
b) Partners
remuneration |
0.800 |
1.000 |
|
|
|
|
|
Sub-Total |
81.854 |
81.751 |
|
|
|
|
|
Add:
Operating stock in process |
-- |
-- |
|
|
|
|
|
Sub-Total |
81.854 |
81.751 |
|
|
|
|
|
Deduct:
Closing stock in process |
-- |
-- |
|
|
|
|
|
Cost of
production |
81.854 |
81.751 |
|
|
|
|
|
Add: Opening
stock of finished goods |
11.507 |
17.000 |
|
|
|
|
|
Sub-Total |
93.361 |
98.700 |
|
|
|
|
|
Deduct: Closing
stock of finished goods |
17.000 |
18.700 |
|
|
|
|
|
Sub-Total
(Cost of sales) |
76.361 |
80.051 |
|
|
|
|
|
Gross Profit |
3.639 |
4.949 |
|
|
|
|
|
Gross profit/sales |
4.55% |
5.82% |
|
|
|
|
|
Selling exp. |
0.020 |
0.025 |
|
|
|
|
|
Administrative
exp. |
0.080 |
1.000 |
|
|
|
|
|
Sub Total |
77.181 |
81.076 |
|
|
|
|
|
Operating
profit before interest |
2.819 |
3.924 |
|
|
|
|
|
a) Interest
on CC |
0.788 |
1.575 |
|
|
|
|
|
b) Interest
on TL |
-- |
-- |
|
|
|
|
|
c) Other interest
|
-- |
-- |
|
|
|
|
|
Total interest |
0.788 |
1.575 |
|
|
|
|
|
Operating
profit after interest |
2.032 |
2.349 |
|
|
|
|
|
Add: other
non-operating income |
-- |
-- |
|
|
|
|
|
Deduct other
non-operating expenses |
-- |
-- |
|
|
|
|
|
Net of other
non-operating income /expenses |
-- |
-- |
|
|
|
|
|
Profit before tax/loss (PBT) |
2.032 |
2.349 |
|
|
|
|
|
Provision for
taxes |
-- |
-- |
|
|
|
|
|
Net profit/(loss) (PAT) |
2.032 |
2.349 |
|
|
|
|
|
Cash accruals
|
2.082 |
2.395 |
|
|
|
|
|
Dividend paid
+ IT on dividend |
2.032 |
2.349 |
|
|
|
|
|
Retained
profit |
-- |
-- |
|
|
|
|
|
Retained cash
profits |
0.050 |
0.46 |
|
|
|
|
|
RMJ content
in sales |
82% |
80% |
|
|
|
|
|
PBDIT |
28.69 |
39.70 |
|
|
|
|
|
PBDIT/sales |
3.59% |
4.67% |
|
|
|
|
|
Operating
profit/sales |
2.54% |
2.76% |
|
|
|
|
|
PBT/sales |
2.54% |
2.76% |
|
|
|
|
|
PAT/sales |
2.54% |
2.76% |
|
|
|
|
|
Cash
accruals/sales |
2.60% |
2.82% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
|
|
|
2017-18 [Estimated] |
2018-19 [Projected] |
|
CURRENT LIABILITIES |
|
|
|
Short-Term borrowings from applicant |
20.000 |
2.000 |
|
|
|
|
|
Bank
including BP & BD short term loans from other banks including BP & BD
|
-- |
-- |
|
|
|
|
|
Sub Total |
20.000 |
2.000 |
|
|
|
|
|
Short term borrowing from others
|
-- |
-- |
|
|
|
|
|
Sundry
creditors (Trade) |
2.000 |
2.200 |
|
|
|
|
|
Advance
payment from customers |
1.500 |
1.800 |
|
|
|
|
|
Net provision from taxation (if positive) |
-- |
-- |
|
|
|
|
|
Dividend
payable |
-- |
-- |
|
|
|
|
|
Other
statutory liab. |
0.700 |
0.900 |
|
|
|
|
|
Overdue term
liabilities Installments
of term loan/DPGs/ deposits/ debentures due within next year |
-- |
-- |
|
|
|
|
|
Other current
liabilities and provisions (due within
in one year) |
0.400 |
0.500 |
|
|
|
|
|
Provisions |
0.400 |
0.500 |
|
|
|
|
|
Sunday
creditors exp. |
-- |
-- |
|
|
|
|
|
Sub Total |
4.600 |
5.400 |
|
|
|
|
|
Total current liabilities |
24.600 |
25.400 |
|
|
|
|
|
Term
liabilities |
-- |
-- |
|
|
|
|
|
Debentures |
-- |
-- |
|
|
|
|
|
Preference
shares |
-- |
-- |
|
|
|
|
|
Term loan
from bank |
-- |
-- |
|
|
|
|
|
Term loan
from other banks/inst |
-- |
-- |
|
|
|
|
|
Deferred
payments credits |
-- |
-- |
|
|
|
|
|
Term deposits
|
-- |
-- |
|
|
|
|
|
Other term
liabilities |
-- |
-- |
|
|
|
|
|
Total term liabilities |
24.600 |
25.400 |
|
|
|
|
|
Total of outside liabilities |
-- |
-- |
|
|
|
|
|
NET WORTH |
|
|
|
Share capital |
4.168 |
6.517 |
|
|
|
|
|
General
reserve |
-- |
-- |
|
|
|
|
|
Revaluation
reserve |
-- |
-- |
|
|
|
|
|
Adjustment
for previous year costs |
-- |
-- |
|
|
|
|
|
Other
reserves (excluding provision) |
-- |
-- |
|
|
|
|
|
Others |
2.500 |
2.500 |
|
|
|
|
|
DTP |
-- |
-- |
|
|
|
|
|
Unsecured loan
from friends/ relative |
2.500 |
2.500 |
|
|
|
|
|
Share premium
|
-- |
-- |
|
|
|
|
|
Surplus (+)
or deficit (-) in profit and loss a/c |
0.000 |
0.000 |
|
|
|
|
|
NET WORTH |
6.667 |
9.016 |
|
|
|
|
|
Total Liabilities |
31.267 |
34.416 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
Cash and bank balances |
0.800 |
0.900 |
|
Investment (other than long-term investments |
|
|
|
i) Government & other Trust securities |
-- |
-- |
|
ii) Fixed deposits with banks |
-- |
-- |
|
|
|
|
|
Domestic receivables including BP/BD |
10.000 |
10.350 |
|
Export receivables including BP/BD |
-- |
-- |
|
|
|
|
|
Deferred
receivables (due within one year) |
-- |
-- |
|
|
|
|
|
Raw material |
|
|
|
Imported |
-- |
-- |
|
Indigenous |
-- |
-- |
|
|
|
|
|
Stock-in process |
-- |
-- |
|
|
|
|
|
Finished goods |
17.000 |
18.700 |
|
Imported |
-- |
-- |
|
Indigenous |
-- |
-- |
|
|
|
|
|
Packing material |
-- |
-- |
|
|
|
|
|
Advances to suppliers |
1.315 |
2.060 |
|
|
|
|
|
Net advance payment of taxes |
-- |
-- |
|
|
|
|
|
Other current assets |
1.600 |
1.900 |
|
|
|
|
|
a) Adv. For exp. Staff others |
1.200 |
1.500 |
|
b) Other adv. 9duties and taxes adjustable/ int FDR) |
0.400 |
0.400 |
|
Total Current Assets |
30.715 |
33.910 |
|
|
|
|
|
FIXED ASSETS |
|
|
|
Gross block (land and building machinery) |
0.659 |
0.659 |
|
|
|
|
|
Add capital expenditure n work in process |
-- |
-- |
|
|
|
|
|
Depreciation to date |
0.107 |
0.153 |
|
|
|
|
|
Net Block |
0.552 |
0.506 |
|
|
|
|
|
Other non-current assets |
-- |
-- |
|
|
|
|
|
Intangible assets |
-- |
-- |
|
|
|
|
|
TOTAL ASSETS |
31.267 |
34.416 |
-----------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR. AMIT YASHWANT ASHINKAR (PARTNER)
(INR IN MILLION)
|
Particulars |
Amount |
|
Assets |
|
|
Residential Flat No. 902/903, tulip Building, Everest World, Koishet Road, Thane - 400607, Maharashtra, India |
10.000 |
|
Investment in business |
0.246 |
|
Vehicle |
1.000 |
|
Jewellary and other liquid assets |
0.800 |
|
Cash and bank |
0.400 |
|
|
------------ |
|
Total |
12.446 |
|
|
|
|
Less: Liabilities |
|
|
Loan from bank/Fl and others |
5.625 |
|
|
------------ |
|
NET WORTH |
6.821 |
-----------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR. SANDESH VASANT SUSVIRKAR (PARTNER)
(INR IN MILLION)
|
Particulars |
Amount |
|
Assets |
|
|
Residential Flat No. B/401, Harishabh Building, Bolinj, Vasai, District Thane - 400607, Maharashtra, India |
5.500 |
|
Investment in business |
1.018 |
|
Jewellary and other liquid assets |
0.500 |
|
Cash and bank |
0.400 |
|
|
------------ |
|
Total |
7.418 |
|
|
|
|
Less: Liabilities |
|
|
Loan from bank/Fl and others |
0.000 |
|
|
------------ |
|
NET WORTH |
7.418 |
-----------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE
The company is partnership firm has been Incorporated on 20.09.2015 by Mr. Atmaram Sawardekar and his two son in-law Mr. Sandesh Susvirkar and Mr. Amit Ashinkar. The firm is engaged in body building of all types of commercial vehicles. The firm is having its manufacturing unit at Plot No. 185/2, Opposite Dumba, Near Bharat Weight Kata, Uran Panvel road, Jasai, Taluka Uran. The firm manufacturers cabins of vehicles, cabins and container body, container body on LCV, trailer, indore body of vehicles, belgaum body, vas cylinder vehicles, half body vehicles etc. In the current financial year, Mr. Atmaram Sawardekar retired from the firm and remaining 2 partners i.e. Mr. Sandesh Susvirkar and Mr. Amit Ashinkar are running the firm.
-----------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
(GENERAL DETAILS)
|
Name of the Owners |
Mrs. Vrushali
Sandesh Susvirkar |
|
|
|
|
Date on which the valuation
is made |
04.10.2017 |
|
|
|
|
Location, street,
ward no. |
Plot No. 931, Survey No. 41, House No. A-15, Ground + Mezzanine Floor, Village - Kandivali, Charkop, Taluka - Borivali, Mumbai - 400067, Maharashtra, India |
|
Estimated value |
INR 6.070 Million |
|
|
|
|
Realizable/forced
sale value 90% of property |
INR 5.463 Million |
|
|
|
|
Distress sale value
80%of property |
INR 4.856 Million |
|
|
|
|
Construction cost
for insurance: |
INR 1.500 Million |
-----------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
(GENERAL DETAILS)
|
Name of the Owners |
Mr. Sandesh
Susvirkar |
|
|
|
|
Date on which the valuation
is made |
04.10.2017 |
|
|
|
|
Location, street,
ward no. |
Survey No. 194, 361, 362, Flat No. B/401, 4th Floor, Village - Bolinj, Virar, Taluka - Vasai, Thane - 400615, Maharashtra, India |
|
Estimated value |
INR 5.429 Million |
|
|
|
|
Realizable/forced
sale value 90% of property |
INR 4.886 Million |
|
|
|
|
Distress sale value
80%of property |
INR 4.343 Million |
|
|
|
|
Construction cost
for insurance: |
INR 1.500 Million |
-----------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Factory shed
· Plant and Machinery
· CCTV Camera
· Computer
· Furniture and Fixture
-----------------------------------------------------------------------------------------------------------------------------
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 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 63.39 |
|
UK Pound |
1 |
INR 85.74 |
|
Euro |
1 |
INR 76.25 |
INFORMATION
DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
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.