MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	485698
Report Date :	12.01.2018

IDENTIFICATION DETAILS

Name :	MALLICK STRUCTURE AND ENGINEERS PRIVATE LIMITED

Registered Office :	Shrutineer 23/2/1/1, Bhagaban Chatterjee Lane, Kadamtala, Howrah – 711101, West Bengal
Tel. No.:	91-33-26775149/ 5152/ 5153

Country :	India

Financials (as on) :	31.03.2016

Date of Incorporation :	07.03.2014

Com. Reg. No.:	21-200747

Capital Investment / Paid-up Capital :	INR 0.311 Million

CIN No.: [Company Identification No.]	U45400WB2014PTC200747

IEC No.:	Not Divulged

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAJCM1476C

GSTIN/UIN :	Not Divulged

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer and exporter of transmission, distribution and substation line materials, transmission and telecommunication towers, heavy engineering products, etc. (Confirmed by management) Wholesale Trade Services of Tower. (Registered Activity)

No. of Employees :	100 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

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 incorporated in the year 2014 and it is having moderate track. Management of the company has not filed its financials of 2017 with government department. For the financial year 2016, the company has increased its revenue from operation as compared to previous year and reported minimal profitability margin 0.53%. However, rating takes into consideration moderate financial profile of the company marked by very low reserves level along with excess of borrowings recorded. Rating remains constrained on account of short track records of business operation, modest liquidity position and intensely competitive nature of the industry. Trade relations are reported to be fair. Business is active. Payment terms are slow but correct. The company 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

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 12.01.2018

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 (GENERAL DETAILS)

Name :	Mr. Debashish
Designation :	Accounts Manager
Contact No.:	91-9830550254
Date :	11.01.2018

LOCATIONS

Registered Office/ Corporate Office :	Shrutineer 23/2/1/1, Bhagaban Chatterjee Lane, Kadamtala, Howrah – 711101, West Bengal, India
Tel. No.:	91-33-26775149/ 5152/ 5153
Mobile No.:	91-9830550254 (Mr. Debashish)
Fax No.:	91-33-26775147
E-Mail :	mallickstructure@gmail.com info@msengpl.com
Area :	1700 sq. ft.
Location :	Owned

Factory :	Amta Road, Kantalia, Jahtalo, Howrah – 711409, West Bengal, India
Area :	1500 sq. ft.
Location :	Owned

DIRECTORS

As on 31.03.2017

Name :

Mrs. Suchandra Mallick

Designation :

Director

Address :

6/9, Nabin Benerjee Lane, Shibpur, Howrah – 711104, West Bengal, India

Date of Birth/Age :

10.10.1980

Date of Appointment :

07.03.2014

DIN No.:

06590910

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U70100WB2010PTC150459	MALLICK INFRACON PRIVATE LIMITED	29/09/2015	-
U51909WB2011PTC160212	GAINWELL VYAPAAR PRIVATE LIMITED	29/05/2013	-
U70109WB2011PTC168901	OITIJHYA ESTATE PRIVATE LIMITED	16/04/2013	-
U74999WB2011PTC170162	OVIA MECHATRONICS PRIVATE LIMITED	30/09/2015	-
U74900WB2014PTC199861	AKI TRANSHARDWARE PRIVATE LIMITED	30/09/2015	-

Name :

Mr. Amarendra Nath Mallick

Designation :

Director

Address :

6/9, Nabin Banerjee Lane, Shibpur, Howrah – 711104, West Bengal, India

Date of Birth/Age :

16.01.1946

Date of Appointment :

07.03.2014

DIN No.:

06591612

Other Directorship:

CIN/FCRN	Company Name	Begin Date	End Date
U70100WB2010PTC150459	MALLICK INFRACON PRIVATE LIMITED	29/09/2015	-
U51909WB2011PTC160212	GAINWELL VYAPAAR PRIVATE LIMITED	29/05/2013	-
U70109WB2011PTC168901	OITIJHYA ESTATE PRIVATE LIMITED	29/09/2015	-
U74999WB2011PTC170162	OVIA MECHATRONICS PRIVATE LIMITED	30/09/2015	-
U74900WB2014PTC199861	AKI TRANSHARDWARE PRIVATE LIMITED	30/09/2015	-
U70109WB2012PLC172539	MOONTREE REAL ESTATES LIMITED	29/09/2015	-

KEY EXECUTIVES

Name :	Mr. Debashish
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2016

Names of Shareholders	No. of Shares	%age
Amarendra Nath Mallick	26100	83.92
Suchandra Mallick	5000	16.08
Total	31100	100.00

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2016

Category	Percentage
Promoters (Individual/Hindu Undivided Family-Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and exporter of transmission, distribution and substation line materials, transmission and telecommunication towers, heavy engineering products, etc. (Confirmed by management)

Wholesale Trade Services of Tower. (Registered Activity)

Products/ Services :

Item Code No.	Product/ Services Description
99611149	Wholesale Trade Services Tower

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

Finished Goods

Countries :

Bangladesh

Imports :

Products :

Raw Materials

Countries :

China

Terms :

Selling :

Advance Payment, L/C, Cheque and Credit (30/ 60/ 90 Days)

Purchasing :

Advance Payment, L/C, Cheque and Credit (30/ 60/ 90 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

End Users and OEMs

Reference :	ABB Limited
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

AMR Construction Limited
Anand Electricals
Areva T&D India Limited
A.K. Power Industries Private Limited
Aquapure Beverages and Food
B.S. Traders
Oscar Equipments Private Limited
Poly Trade (India)

No. of Employees :

100 (Approximately)

Bankers :

Bank Name	HDFC Bank Limited
Branch	Kolkata, West Bengal, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Axis Bank Limited
Bank of Baroda
IndusInd Bank Limited
Lakshmi Vilas Bank

Auditors :
Name :	J Jain and Company Chartered Accountants
Address :	23A, Netaji Subhas Road, 11th Floor Room No 44, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22302243/ 22420308
Fax No.:	91-33-40015422
E-Mail :	ho@jjainco.com
Website :	www.jjainco.com
Income-tax PAN of auditor or auditor's firm :	AABFJ8069K

Memberships :	Not Available

Collaborators :	Not Available

Associated Companies/ Firms : (As on 31.03.2016)	A.K. Power Industries Private Limited Mallick Projects Private Limited Mallick Infracon Private Limited Meridian Towers Private Limited Oitijhya Estate Private Limited Summit Entertaiment Private Limited AKPI Merchatronics Private Limited AKI Transhardware Private Limited Gainwell Vyapaar Private Limited Moontree Real Estates Limited A&A Engineering AS Viddut Works

CAPITAL STRUCTURE

As on 30.09.2016

Authorised Capital :

No. of Shares	Type	Value	Amount

1000000	Equity Shares	INR 10/- each	INR 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

31100	Equity Shares	INR 10/- each	INR 0.311 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2016	31.03.2015	31.03.2014
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.311	0.311	0.311
(b) Reserves & Surplus	0.294	0.003	0.004
(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)	0.605	0.314	0.315

(3) Non-Current Liabilities
(a) Long-term borrowings	1.680	0.000	0.000
(b) Deferred tax liabilities (Net)	0.013	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1.693	0.000	0.000

(4) Current Liabilities
(a) Short term borrowings	102.371	0.000	0.000
(b) Trade payables	69.036	3.194	0.006
(c) Other current liabilities	2.220	48.555	0.002
(d) Short-term provisions	0.160	0.006	0.000
Total Current Liabilities (4)	173.787	51.755	0.008

TOTAL	176.085	52.069	0.323

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.206	2.266	0.000
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.001	0.001	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.700	0.025	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	2.907	2.292	0.000

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	7.976	0.169	0.000
(c) Trade receivables	25.628	3.031	0.000
(d) Cash and cash equivalents	2.037	1.119	0.323
(e) Short-term loans and advances	136.660	45.200	0.000
(f) Other current assets	0.877	0.258	0.000
Total Current Assets	173.178	49.777	0.323

TOTAL	176.085	52.069	0.323

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2016	31.03.2015	31.03.2014
	SALES
	Income	55.111	3.031	0.000
	Other Income	0.000	0.954	0.229
	TOTAL	55.111	3.985	0.229

Less	EXPENSES
	Cost of Materials Consumed	2.751	0.000	0.000
	Purchases	52.466	3.194	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(4.643)	(0.169)	0.000
	Employees benefits expense	0.120	0.072	0.005
	Other expenses	3.525	0.487	0.218
	TOTAL	54.219	3.584	0.223

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	0.892	0.401	0.006

Less	FINANCIAL EXPENSES	0.024	0.003	0.000

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	0.868	0.398	0.006

Less/ Add	DEPRECIATION/ AMORTISATION	0.410	0.394	0.000

	PROFIT/ (LOSS) BEFORE TAX	0.458	0.004	0.006

Less	TAX	0.167	0.005	0.002

	PROFIT/ (LOSS) AFTER TAX	0.291	(0.001)	0.004

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	0.003	0.004	0.000

	Balance Carried to the B/S	0.294	0.003	0.004

	Earnings / (Loss) Per Share (INR)	9.35	(0.03)	0.13

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2016	31.03.2015	31.03.2014
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	NA	NA	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Average Collection Days (Sundry Debtors / Income 365 Days)*	169.73	365.00	0.00

Account Receivables Turnover ( Income / Sundry Debtors)	2.15	1.00	0.00

Average Payment Days (Sundry Creditors / Purchases 365 Days)*	456.35	365.00	0.00

Inventory Turnover (Operating Income / Inventories)	0.11	2.37	0.00

Asset Turnover (Operating Income / Net Fixed Assets)	0.40	0.18	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	1.00	0.99	0.02

Debt Equity Ratio (Total Liability / Networth)	171.99	0.00	0.00

Current Liabilities to Networth (Current Liabilities / Net Worth)	287.25	164.82	0.03

Fixed Assets to Networth (Net Fixed Assets / Networth)	3.65	7.22	0.00

Interest Coverage Ratio (PBIT / Financial Charges)	37.17	133.67	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2016	31.03.2015	31.03.2014
Net Profit Margin [(PAT / Sales) 100]*	%	0.53	(0.03)	0.00

Return on Total Assets ((PAT / Total Assets) 100)*	%	0.17	0.00	1.24

Return on Investment (ROI) ((PAT / Networth) 100)*	%	48.10	(0.32)	1.27

SOLVENCY RATIOS

PARTICULARS	31.03.2016	31.03.2015	31.03.2014
Current Ratio (Current Assets / Current Liabilities)	1.00	0.96	40.38

Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.95	0.96	40.38

G-Score Ratio Financial (Networth / Total Assets)	0.00	0.01	0.98

G-Score Ratio Debt (Debts / Equity Capital)	334.57	0.00	0.00

G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.00	0.96	40.38

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Share Capital	0.311	0.311	0.311
Reserves & Surplus	0.004	0.003	0.294
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	0.315	0.314	0.605

long-term borrowings	0.000	0.000	1.680
Short term borrowings	0.000	0.000	102.371
Total borrowings	0.000	0.000	104.051
Debt/Equity ratio	0.000	0.000	171.985

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Total Income	0.229	3.985	55.111
		1640.175	1282.961

NET PROFIT MARGIN

Net Profit Margin	31.03.2014	31.03.2015	31.03.2016
	INR In Million	INR In Million	INR In Million
Total Income	0.229	3.985	55.111
Profit/(Loss)	0.004	(0.001)	0.291
	1.75%	(0.03%)	0.53%

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	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)	Yes
16	No. of employees	Yes
17	Details of sister concerns	Yes
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 two years and one month	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last about two years and one month	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIR : (As on 31.03.2016)

The company’s growth has increased by 94.25% in gross revenue which increased from INR 3.031 Million in FY 2014-15 to INR 55.111 Million FY 2015-16 and profit after tax increased by INR 0.291 Million from INR 0.003 Million to INR 0.294 Million.

UNSECURED LOAN

PARTICULARS	31.03.2016 (INR in Million)	31.03.2015 (INR in Million)
Long-term Borrowings
From Corporate Bodies	1.680	0.000
Short-term borrowings
Advance from Suppliers	102.371	0.000
Total	104.051	0.000

INDEX OF CHARGES

No Charges Exists for Company

FIXED ASSETS

Plant and Machinery
Motor Vehicle

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 63.73
UK Pound	1	INR 86.01
Euro	1	INR 76.13

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	PSD

Report Prepared by :	SUD

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	YES
--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)

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.