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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

485583

Report Date :

11.01.2018

 

IDENTIFICATION DETAILS

 

Name :

MARKETING SOLUTIONS AND SERVICES PRIVATE LIMITED

 

 

Registered Office :

Ground Floor, Gajel Apartments, 58, Greams Road, Chennai-600006, Tamilnadu

Tel. No.:

91-80-41325227

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

26.06.2003

 

 

Com. Reg. No.:

18-051098

 

 

Capital Investment / Paid-up Capital :

INR 0.100 Million

 

 

CIN No.:

[Company Identification No.]

U74992TN2003PTC051098

 

 

IEC No.:

Not Available

 

 

GSTIN/UIN:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AADCM7511N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The company is in the business of Trading in Roofing Material, Providing Labour Contract Services and Acting as Commission Agents. (Registered Activity)

 

 

No. of Employees :

Not Available

 

 

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

 

Maximum Credit Limit:

USD 31000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 2003 having good track.

 

For the financial year ended 2017, the company has witnessed a growth in its revenue and has achieved profit margin at 7.04% (approx.)

 

The company possesses sound financial profile marked by healthy net worth base along with fair debt level and favorable gap between trade payables to its trade receivables. 

 

The company also derives strength from its long standing track record of business operation.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitments.

 

In view of aforesaid, the company 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

 

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 11.01.2018

 

 

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.

 

 

LOCATIONS

 

Registered Office :

Ground Floor, Gajel Apartments, 58, Greams Road, Chennai-600006, Tamilnadu, India

Tel. No.:

91-80-41325227

Fax No.:

Not Available

E-Mail :

mathew@mssindia.com

sales@mssindia.in

Website :

http://www.mssin.in

 

 

Corporate Office :

101, Ramanashree Arcade,  Opposite Hotel Oberoi, 18, M. G. Road, Bangalore-560001, Karnataka, India 

Tel. No.:

91-80-4132 5227

 

Godown :

Located at :

  • Bangalore, Karnataka, India
  • Puzal - Cheenai

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. George Mathew

Designation :

Director

Address :

Sangaraman Galam, Muttamralam-PO, Kottayam– 686004, Kerala, India

Date of Birth/Age :

09.04.1940

Date of Appointment :

26.06.2003

DIN No.:

00657588

 

 

Name :

Mr. Mathew George

Designation :

Whole-time director

Address :

Sangaraman Galam, Muttamralam-PO, Kottayam– 686004, Kerala, India

Date of Birth/Age :

21.12.1967

Date of Appointment :

26.06.2003

DIN No.:

00855802

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

No. of Shares

% of Holding

George Mathew

5000

50.00

Mathew George

5000

50.00

Total

10000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2017

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

The company is in the business of Trading in Roofing Material, Providing Labour Contract Services and Acting as Commission Agents. (Registered Activity)

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Business support services activates

829

Marketing management consulting services

99831140

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Available

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Not Available

 

 

Bankers :

Banker Name :

Not Available

Branch :

--

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2017

As on

31.03.2016

SHORT TERM BORROWING

 

 

From Banks

(secured by Hypothecation of Motor Car)

(there is no overdue amount on the borrowing)

0.175

0.172

Total

0.175

0.172

 

 

Auditors :

 

Name :

Jain Bafna and Associates

Chartered Accountants

Address :

F1, Gajel Apartments, 58 Greams Road, Chennai – 600006, Tamilnadu, India

Tel. No.:

91-44-28292857/ 28294228

E-Mail :

main@jainbafna.com

Income-tax PAN of auditor or auditor's firm :

AAAFJ0417A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

INR 10/- each

INR 0.100 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

INR 10/- each

INR 0.100 Million

 

 

 

 

 


 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.100

0.100

0.100

(b) Reserves & Surplus

10.834

6.902

5.855

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

10.934

7.002

5.955

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.365

(b) Deferred tax liabilities (Net)

0.053

0.000

0.000

(c) Other long term liabilities

0.000

0.175

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

0.053

0.175

0.365

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

18.576

8.248

12.008

(b) Trade payables

3.748

0.852

0.585

(c) Other current liabilities

6.358

7.855

3.932

(d) Short-term provisions

1.895

0.430

0.515

Total Current Liabilities (4)

30.577

17.385

17.040

 

 

 

 

TOTAL

41.564

24.562

23.360

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

12.806

0.994

1.212

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

3.957

0.995

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.115

0.076

(d)  Long-term Loan and Advances

0.710

0.709

0.709

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

13.516

5.775

2.992

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

19.221

6.188

10.957

(c) Trade receivables

6.100

7.467

5.056

(d) Cash and cash equivalents

0.736

2.009

3.302

(e) Short-term loans and advances

1.991

3.123

1.053

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

28.048

18.787

20.368

 

 

 

 

TOTAL

41.564

24.562

23.360

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

55.890

42.651

66.121

 

Other Income

1.698

0.326

0.302

 

TOTAL

57.588

42.977

66.423

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

0.000

0.000

0.000

 

Purchases of Stock-in-Trade

44.158

19.844

39.005

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(13.034)

4.769

5.852

 

Employees benefits expense

7.983

6.482

7.099

 

Other expenses

10.206

8.066

10.784

 

TOTAL

49.313

39.161

62.740

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

8.275

3.816

3.683

 

 

 

 

 

Less

FINANCIAL EXPENSES

1.828

1.789

1.216

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

6.447

2.027

2.467

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

0.382

0.415

0.582

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

6.065

1.612

1.885

 

 

 

 

 

Less

TAX

2.133

0.566

0.811

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

3.932

1.046

1.074

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

393.24

104.69

107.37

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

(2.689)

6.506

(0.335)

Net cash flows from (used in) operations

(3.189)

5.816

(2.043)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

39.84

63.90

27.91

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

9.16

5.71

13.08

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

30.98

15.67

5.47

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.43

0.62

0.34

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.65

0.77

1.67

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.74

0.71

0.75

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.70

1.18

2.08

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

2.80

2.48

2.86

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.17

0.71

0.37

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

4.53

2.13

3.03

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

7.04

2.45

1.62

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

9.46

4.26

4.60

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

35.96

14.94

18.04

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

0.92

1.08

1.20

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.29

0.72

0.55

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.26

0.29

0.25

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

185.76

82.48

123.73

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.92

1.08

1.20

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

0.100

0.100

0.100

Reserves & Surplus

5.855

6.902

10.834

Net worth

5.955

7.002

10.934

 

 

 

 

long-term borrowings

0.365

0.000

0.000

Short term borrowings

12.008

8.248

18.576

Total borrowings

12.373

8.248

18.576

Debt/Equity ratio

2.078

1.178

1.699

 

 

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

66.121

42.651

55.890

 

 

(35.496)

31.040

 

 

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

66.121

42.651

55.890

Profit/(Loss)

1.074

1.046

3.932

 

1.62%

2.45%

7.04%

 

 

 

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

No

7

Name of the person contacted

No

8

Designation of contact person

No

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

No

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

No

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%

--

28

Estimation for coming financial year

No

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

Note: The Registered Office of the company has been shifted from 7C, Owners Court, Montieth Lane, Chennai – 600008, Tamilnadu, India to the present address w.e.f. 01.12.2010.

 

 

CORPORATE INFORMATION

 

The company is in the business of Trading in Roofing Material, Providing Labour Contract Services and Acting as Commission Agents.

 

 

UNSECURED LOANS:

 

Particulars

31.03.2017

INR In Million

31.03.2016

INR In Million

SHORT TERM BORROWINGS

 

 

Loans and advances from related parties

18.401

8.076

Total

18.401

8.076

 

 

INDEX OF CHARGE: No Charges Exists for Company

 

 

FIXED ASSETS:

 

·         Motor Car

·         Computer

·         Office Equipment

·         Electrical Installation

·         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, 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

INR

US Dollar

1

INR 63.82

UK Pound

1

INR 86.28

Euro

1

INR 76.13

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NKTS

 


 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.