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|
MIRA INFORM REPORT
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Report No. : |
486467 |
|
Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE TRADING LIMITED (w.e.f. 21.01.2014) |
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|
|
|
Formerly Known
As : |
RELIANCE TRENDS LIMITED (w.e.f. 17.12.2007) RELIANCE TRENDS PRIVATE LIMITED (w.e.f. 02.08.2007) RELIANCE TRADECOM PRIVATE LIMITED |
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Registered
Office : |
3rd Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao,
Mumbai – 400002, Maharashtra |
|
Tel. No.: |
91-22-44770000 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
13.12.2006 |
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Com. Reg. No.: |
11- 166165 |
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Capital
Investment / Paid-up Capital : |
INR 10.500 Million |
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CIN No.: [Company Identification
No.] |
U51909MH2006PLC166165 |
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IEC No.: |
0388066415 |
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GSTIN: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACR5055K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of trading in IT hardware/ Security system and other products. (Registered activity) |
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No. of Employees
: |
Information denied by the management |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a step down subsidiary of “Reliance Retail Limited”. It is
an established company incorporated in the year 2006. Management has not filed its financial record with government
department for the year 2017 and same are not available from any other
sources. For the financial year ended 2016, the company has reported a decline
in its revenue and has incurred operational losses. However, the rating takes into consideration healthy net worth base
and debt free balance sheet of the company. The company also derives strength from its strong holding and its
experienced management. Business is active. Payment terms are reported to be slow but correct.
In view of strong promoters, the company can be considered normal 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.
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 DENIED
MANAGEMENT NON-COOPERATIVE (91-22-44770000)
LOCATIONS
|
Registered Office : |
3rd Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao,
Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-44770000 |
|
Fax No.: |
91-22-44771882 |
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E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Pankaj Mohan Pawar |
|
Designation : |
Director |
|
Address : |
302, Archana Saurabh, Plot No. 20 Sector 7, Koparkhairne, Navi
Mumbai – 400709, Maharashtra, India |
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Date of Birth/Age : |
14.07.1972 |
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Qualification : |
BE, MBA |
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Date of Appointment : |
24.03.2012 |
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DIN No.: |
00085077 |
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PAN No.: |
AEAPP7976A |
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|
|
|
Name : |
Mr. Sriram Srinivasan |
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Designation : |
Director |
|
Address : |
354, 6th Main, I Block Koramangala, Bangalore – 560034,
Karnataka, India |
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Date of Birth/Age : |
02.12.1955 |
|
Qualification : |
B-Tech, MBA Finance, Marketing |
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Date of Appointment : |
13.04.2012 |
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DIN No.: |
00473346 |
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PAN No.: |
AKAPS9225R |
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|
|
|
Name : |
Mr. Anand Balasundaram |
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Designation : |
Director |
|
Address : |
D 814 Paradise, Raheja Vihar, Powai, Mumbai – 400072,
Maharashtra, India |
|
Date of Birth/Age : |
12.03.1964 |
|
Qualification : |
CA, B. Com |
|
Date of Appointment : |
27.03.2015 |
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DIN No.: |
02792009 |
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PAN No.: |
AAEPB9965H |
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|
|
|
Name : |
Mr. Raman Seshadri |
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Designation : |
Director |
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Address : |
Prabhat Cooperative Housing Society, Flat #601, 415A, D K Sandu
Marg, Road, Mahalakshmi, Tiles Shop In Basement, Chembur, Mumbai – 400071,
Maharashtra, India |
|
Date of Birth/Age : |
05.07.1956 |
|
Qualification : |
B. Com. |
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Date of Appointment : |
01.12.2014 |
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DIN No.: |
05244442 |
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PAN No.: |
ABYPS2113H |
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|
|
|
Name : |
Mr. Jagmohanlal Bhamri |
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Designation : |
Additional Director |
|
Address : |
803 - A, 8th Floor, Ashok Towers, Dr. Babasaheb Ambedkar Road, Parel Mumbai - 400012, Maharashtra, India |
|
Date of Appointment : |
17.04.2017 |
|
DIN No.: |
07169306 |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
No. of Shares |
|
Sudhakar
Saraswatula Jointly with Reliance Retail Limited, India |
1 |
|
Madhavan
Ganesan Jointly with Reliance Retail Limited, India |
1 |
|
A Ramaswamy
Jointly with Reliance Retail Limited, India |
1 |
|
Rajendra
Madhav Kamath Jointly with Reliance Retail Limited, India |
1 |
|
Pankaj Mohan Pawar Jointly with Reliance Retail Limited, India |
1 |
|
Sridhar
Kothandaraman Jointly with Reliance Retail Limited, India |
1 |
|
Reliance
Retail Limited, India |
1049994 |
|
Total |
1050000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 15.09.2016
|
Category |
Percentage |
|
Promoters-Body corporate (not mentioned above) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of trading in IT hardware/ Security system and other products. (Registered activity) |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
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Name : |
Chaturvedi and Shah Chartered Accountants |
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Address : |
714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400021, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFC0662N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company (AS
ON 31.03.2016): |
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Ultimate holding
company (AS ON 31.03.2016): |
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Fellow Subsidiary
company (AS ON 31.03.2016): |
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CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52,10,000 |
Equity Shares |
INR 10/- each |
INR 52.100 Million |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,50,000 |
Equity Shares |
INR 10/- each |
INR 10.500 Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
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 |
10.500 |
10.500 |
10.500 |
|
(b) Reserves & Surplus |
10.450 |
11.904 |
10.930 |
|
(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) |
20.950 |
22.404 |
21.430 |
|
|
|
|
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|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
1.243 |
1.078 |
|
Total
Non-current Liabilities (3) |
0.000 |
1.243 |
1.078 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
43.889 |
73.698 |
37.221 |
|
(c) Other current liabilities |
3.488 |
1.421 |
5.852 |
|
(d) Short-term provisions |
0.000 |
0.267 |
0.504 |
|
Total
Current Liabilities (4) |
47.377 |
75.386 |
43.577 |
|
|
|
|
|
|
TOTAL |
68.327 |
99.033 |
66.085 |
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.000 |
0.000 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
33.923 |
37.069 |
45.554 |
|
(d) Cash and cash equivalents |
0.833 |
2.777 |
0.157 |
|
(e) Short-term loans and
advances |
33.571 |
59.187 |
20.374 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
68.327 |
99.033 |
66.085 |
|
|
|
|
|
|
TOTAL |
68.327 |
99.033 |
66.085 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
466.547 |
508.686 |
1567.825 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
|
466.547 |
508.686 |
1567.825 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
461.750 |
490.675 |
1506.824 |
|
|
Employees benefits expense |
(0.741) |
9.785 |
12.147 |
|
|
Other expenses |
6.992 |
7.022 |
46.526 |
|
|
TOTAL
|
468.001 |
507.482 |
1565.497 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(1.454) |
1.204 |
2.328 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1.454) |
1.204 |
2.328 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(1.454) |
1.204 |
2.328 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.230 |
0.444 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(1.454) |
0.974 |
1.884 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
367.809 |
397.430 |
1183.293 |
|
|
TOTAL
IMPORTS |
367.809 |
397.430 |
1183.293 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(1.38) |
0.93 |
1.79 |
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 flows from (used in) operations |
(1.714) |
3.064 |
0.157 |
|
Net cash flows from (used in) operating activities |
(1.944) |
2.620 |
0.157 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
26.54 |
26.60 |
10.61 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
13.75 |
13.72 |
34.42 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
34.69 |
54.82 |
9.02 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.00 |
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.69 |
0.76 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.26 |
3.36 |
2.03 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(0.31) |
0.19 |
0.12 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(2.13) |
0.98 |
2.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(6.94) |
4.35 |
8.79 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.44 |
1.31 |
1.52 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.44 |
1.31 |
1.52 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.31 |
0.23 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.44 |
1.31 |
1.52 |
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 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
10.500 |
10.500 |
10.500 |
|
Reserves & Surplus |
10.930 |
11.904 |
10.450 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
21.430 |
22.404 |
20.950 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1567.825 |
508.686 |
466.547 |
|
|
|
(67.555) |
(8.284) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1567.825 |
508.686 |
466.547 |
|
Profit |
1.884 |
0.974 |
(1.454) |
|
|
0.12% |
0.19% |
(0.31%) |
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 |
Yes |
|
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 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 |
STATE OF COMPANY’S AFFAIRS (AS ON 31.03.2016)
The Company is
engaged in the business of trading in IT hardware/ Security system and other
products. The Company achieved lower revenue from operations during the current
year as compared to the previous year and has incurred loss of INR 1.454
Million as against profit after tax of INR 0.974 Million for the previous year.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B62563937 |
10388008 |
HDFC
BANK LIMITED |
31/10/2012 |
- |
15000000.0 |
HDFC
BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
B62563267 |
10388004 |
HDFC
BANK LIMITED |
31/10/2012 |
- |
30000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
B62563614 |
10388007 |
HDFC
BANK LIMITED |
31/10/2012 |
- |
5000000.0 |
HDFC
BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
4 |
A60806825 |
10154319 |
HDFC
BANK LIMITED |
30/03/2009 |
- |
5000000.0 |
HDFC
BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
A60806817 |
10154318 |
HDFC
BANK LIMITED |
30/03/2009 |
- |
10000000.0 |
HDFC
BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
6 |
B86626561 |
10282089 |
HDFC
BANK LIMITED |
31/03/2011 |
24/09/2013 |
316817.25 |
HDFC
BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
7 |
B86617784 |
10282082 |
HDFC
BANK LIMITED |
31/03/2011 |
24/09/2013 |
626790.4 |
HDFC BANK
HOUSE, SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
8 |
B86624178 |
10282083 |
HDFC
BANK LIMITED |
31/03/2011 |
24/09/2013 |
316847.79 |
HDFC
BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
9 |
B86625811 |
10282087 |
HDFC BANK
LIMITED |
31/03/2011 |
24/09/2013 |
264365.53 |
HDFC
BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
10 |
B86624970 |
10282085 |
HDFC
BANK LIMITED |
31/03/2011 |
24/09/2013 |
90986.06 |
HDFC BANK
HOUSE, SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
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 63.53 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared by
: |
KVT |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.