|
|
|
MIRA INFORM REPORT
|
Report No. : |
485669 |
|
Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
NIDHI PHARMA DISTRIBUTORS |
|
|
|
|
Registered
Office : |
16/B, Gordhannagar, B/H Little Star English Medium School, Opposite Kalyanbaug, Old Dhor Bazar Cross Road, Kankaria, Ahmedabad-380028, Gujarat |
|
Mobile No.: |
91-9879246108 (Mr. Dhiren H. Shah) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Establishment : |
2015 01.04.2016 (Activity started) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 3.729 Million |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm
does not have export and import) |
|
|
|
|
GSTIN : |
24AAMFN6395F1ZX |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMFN6395F |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Distributor of all types of allopathic medicine. [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 |
|
Maximum Credit Limit : |
USD 11000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a partnership firm established in the year 2015 and it is a
distributor of all types of allopathic medicine. As per financials of March 2017, the subject has commenced its
business operation and has reported minimal profit margin of 0.70%. Rating takes into consideration the subject’s limited track record of
business operations and average capital base. Payments are reported to be slow but correct. In view of aforesaid, subject can be considered for business dealings
with some caution. Note 1: Subject was commenced its commercial operation w.e.f 1st April 2016. 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 has met Mr. Dhiren Shah (Partner) and
he provided his contact details (079-20197051) and visiting card. As per our executive’s observation, it is a ground+1 storey building
and whole premises belongs to subject. Location is easy to find and locality seems
to be residential. Area seems to be neutral and 5 employees were sighted at
the premises. Name board of the subject was sighted at the premises. |
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 15.01.2018.
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. Dhiren H. Shah |
|
Designation : |
Partner |
|
Contact No.: |
91-9879246108 |
|
Date : |
13.01.2018 |
LOCATIONS
|
Registered Office : |
16/B, Gordhan Nagar, Behind Little Star English Medium School, Opposite Kalyanbaug, Old Dhor Bazar Cross Road, Kankaria, Ahmedabad-380028, Gujarat, India |
|
Tel. No.: |
91-79-20197051 |
|
Mobile No.: |
91-9879246108 (Mr. Dhiren H. Shah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
1000 Sq. ft. |
|
Locality: |
Residential |
PARTNERS
|
Name : |
Mr. Dhiren H. Shah |
|
Designation : |
Partner |
|
Address : |
D/18, Sunil Society, Canal Garden Road, Maninagar, Ahmedabad-380008,
Gujarat, India |
|
Date of Birth/Age : |
46 Years |
|
Qualification : |
B.B.A |
|
Experience : |
17 Years |
|
|
|
|
Name : |
Ms. Sejal N. Shah |
|
Designation : |
Partner |
|
Address : |
65, Nirmal Society, Canal Garden Road, Maninagar, Ahmedabad-380008,
Gujarat, India |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
B.SC., D.M.L.T. |
|
Experience : |
10 Years |
|
|
|
|
Name : |
Mr. Sahil N. Shah |
|
Designation : |
Partner |
|
Address : |
8/A, Gordhan Nagar, Kankaria, Ahmedabad-380028, Gujarat, India |
|
Date of Birth/Age : |
21 Years |
|
Qualification : |
Diploma Civil Engg. |
|
Experience : |
2 Years |
BUSINESS DETAILS
|
Line of Business : |
Distributor of all types of allopathic medicine. [Confirmed by management] |
|
|
|
|
Products : |
Allopathic Medicine |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
NEFT, RTGS |
|
|
|
|
Purchasing : |
NEFT, RTGS |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Retailers
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
10 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
J.S. Shah and Company Chartered Accountants |
|
Address : |
15, Municipal Shopping Center, Near BSNL Telephone Office, Kankariya,
Ahmedabad-380022, Gujarat, India |
|
Tel. No.: |
91-79-25322635 |
|
Mobile No.: |
91-9998460572 |
|
E-Mail.: |
|
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Membership : |
Not Available |
|
|
|
|
Sister Concern : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2017
PARTNERS CAPITAL
ACCOUNT
(INR
in Million)
|
Sr.No |
Name of Partner |
Opening Balance as on 01.04.2016 |
Interest during the year |
Addition during the year |
Partners Salary |
Withdrawal |
Profit/Loss during the year |
Closing Balance As on 31.03.2017 |
|
1 |
Dhirenkumar Hasmukhlal Shah |
0.031 |
0.000 |
0.000 |
0.435 |
0.102 |
0.212 |
0.575 |
|
2 |
Sahil Nikhilkumar Shah |
0.029 |
0.068 |
0.700 |
0.507 |
0.000 |
0.247 |
1.552 |
|
3 |
Sejalben Niravkumar Shah |
0.028 |
0.017 |
0.901 |
0.508 |
0.100 |
0.247 |
1.602 |
|
|
Total |
0.088 |
0.085 |
1.601 |
1.450 |
0.202 |
0.706 |
3.729 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
3.729 |
0.088 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
3.729 |
0.088 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
6.716 |
0.000 |
|
|
TOTAL
BORROWING |
|
6.716 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
10.445 |
0.088 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.040 |
0.048 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
16.977 |
7.928 |
|
|
Sundry Debtors |
|
9.212 |
0.000 |
|
|
Cash & Bank Balances |
|
1.087 |
0.006 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.833 |
0.460 |
|
Total Current Assets |
|
28.109 |
8.394 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
17.692 |
8.354 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.012 |
0.000 |
|
Total Current Liabilities |
|
17.704 |
8.354 |
|
|
Net Current
Assets |
|
10.405 |
0.040 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
10.445 |
0.088 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
101.007 |
0.000 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
TOTAL |
|
101.007 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Goods sold |
|
96.632 |
0.000 |
|
|
Employees benefits
expense |
|
0.702 |
0.000 |
|
|
Partner salary |
|
1.450 |
0.000 |
|
|
Partner interest |
|
0.084 |
0.000 |
|
|
Other expenses |
|
1.025 |
0.000 |
|
|
TOTAL |
|
99.893 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, DEPRECIATION AND AMORTISATION |
|
1.114 |
0.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
0.378 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
DEPRECIATION AND AMORTISATION |
|
0.736 |
0.000 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
0.030 |
0.000 |
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.706 |
0.000 |
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
|
33.29 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
|
10.96 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
66.83 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
0.07 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
27.85 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
0.87 |
0.99 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
1.80 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
6.55 |
94.93 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
0.01 |
0.55 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
2.95 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
|
0.70 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
2.51 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
18.93 |
0.00 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
1.15 |
1.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
0.46 |
0.06 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
0.13 |
0.01 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
1.80 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
1.15 |
1.00 |
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 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
|
Partners Capital |
0.088 |
3.729 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Money received against
share warrants |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
|
Net worth |
0.088 |
3.729 |
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
6.716 |
|
Total borrowings |
0.000 |
6.716 |
|
Debt/Equity ratio |
0.000 |
1.801 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
|
Sales |
0.000 |
101.007 |
|
Profit |
0.000 |
0.706 |
|
|
0.70% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
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 : |
NIDHI PHARMA DISTRIBUTORS |
|
|
|
|
Address : |
16/B, Gordhan Nagar, Behind Little Star English Medium School, Opposite Kalyanbaug, Old Dhor Bazar Cross Road, Kankaria, Ahmedabad-380028, Gujarat, India |
|
|
|
|
Person to whom we met: |
Mr. Dhiren H. Shah
Designation: Partner |
|
|
|
|
Name Board: |
Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Total Floors of the building: |
Ground Floor + 1st Floor |
|
|
|
|
Subject situated on : |
Whole premises belongs to subject |
|
|
|
|
Locality: |
Residential |
|
|
|
|
Area : |
Neutral |
|
|
|
|
No. of Employees
seen at Premises : |
5 |
|
|
|
|
Visibility of
Items: |
|
|
|
|
|
Proof of visit: |
Photograph/ Visiting card |
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
From relatives |
6.716 |
0.000 |
|
Total |
6.716 |
0.000 |
FIXED ASSETS:
- Bike
- Computer
- Freez
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 63.53 |
|
UK Pound |
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
BHG |
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.