|
|
|
MIRA INFORM REPORT
|
Report No. : |
486227 |
|
Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAF CLOTHING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
35/3/2, Adakamaranahalli, 21st KM of Tumkur Road, Next to Himalaya
Drugs, Makali Post, Bangalore-562123, Karnataka |
|
Mobile No.: |
91-9538146213 (Mr. Ronaldo) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
26.11.2008 |
|
|
|
|
Com. Reg. No.: |
08-068870 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 141.119 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101KA2008PTC068870 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN : |
29AAFCM8114M1Z1 |
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|
|
|
TIN No.: |
29300835890 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM8114M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacture, buy, sell, import, export, distribution and dealing in all kinds of readymade garments and apparels, to be appointed as agents and distributors on commission, allowance, retainer ship, incentive basis and in undertaking other allied business activities. [Registered activity and also confirmed by management] |
|
|
|
|
No. of Employees
: |
5000 (Approximately) |
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 1570000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
MAF Clothing Private Limited was incorporated in the year 2008. It is a manufacturer, exporter and importer of Gents Garments, Ladies
Garments, Non-Woven Garments, T-Shirt and Jeans. For the financial year 2017, there has been minimal growth in its
revenue by 0.34% along with average profit margin of 1.86%. The rating takes into consideration the sound financial profile of the
company marked by adequate networth base along with comfortable debt coverage
indicators. However, rating strengths are partially offset by working capital
intensive operations and low operating profitability. Business is active. Payments are reported to be usually correct. In view of aforesaid, MAF Clothing Private Limited 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 |
CARE |
|
Rating |
Long term = BBB- (Issuer not cooperative) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
06.12.2017 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short term = A3 (Issuer not cooperative) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
06.12.2017 |
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 16.01.2018.
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. Ronaldo |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9538146213 |
|
Date : |
14.01.2018 |
LOCATIONS
|
Registered Office / Factory : |
35/3/2, Adakamaranahalli, 21st KM of Tumkur Road, Next to Himalaya
Drugs, Makali Post, Bangalore-562123, Karnataka, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9538146213 (Mr. Ronaldo) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Rented |
|
Locality : |
Commercial |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Yunus Sattar Jaliwala |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
No. 8/9, Thambusamy Road, Kilpauk, Chennai-600010, Tamilnadu, India |
||||||||||||||||||||
|
Date of Birth/Age : |
05.09.1939 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
26.11.2008 |
||||||||||||||||||||
|
DIN No.: |
00500586 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Zohra Yunus Jaliwala |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
No. 8/9, Thambusamy Road, Kilpauk, Chennai-600010, Tamilnadu, India |
||||||||||||||||||||
|
Date of Birth/Age : |
04.10.1950 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
22.12.2008 |
||||||||||||||||||||
|
DIN No.: |
00500591 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Faizal Yunus Jaliwala |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
#41, 4th Floor, Pebble Bay Nagashettyhalli, Bangalore-560094, Karnataka, India |
||||||||||||||||||||
|
Date of Birth/Age : |
15.12.1974 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
26.11.2008 |
||||||||||||||||||||
|
DIN No.: |
02397025 |
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|
Other Directorship:
|
|||||||||||||||||||||
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|
|
||||||||||||||||||||
|
Name : |
Ms. Tasneem Munavar Jaliwala |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
Realadobe, 4th Floor, 8/9 Thambuswamy Road, Kilpauk, Chennai-600010, Tamilnadu, India |
||||||||||||||||||||
|
Date of Birth/Age : |
22.06.1975 |
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|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
22.12.2008 |
||||||||||||||||||||
|
DIN No.: |
02455279 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Ms. Ruksana Jaliwala |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
May Flower Apartments, 112 Atkinson Road, Vepery, Chennai-600007, Tamilnadu, India |
||||||||||||||||||||
|
Date of Birth/Age : |
22.01.1976 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
22.12.2008 |
||||||||||||||||||||
|
DIN No.: |
02455282 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Name : |
Mr. Munavar Yunus Jaliwala |
||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||
|
Address : |
#51, 5th Floor, Pebble Bay, Nagashettyhalli, Bangalore-560094, Karnataka, India |
||||||||||||||||||||
|
Date of Birth/Age : |
26.03.1972 |
||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||
|
Date of Appointment : |
11.11.2009 |
||||||||||||||||||||
|
DIN No.: |
02834128 |
||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Ronaldo |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
Mr. Jagdish |
|
Designation : |
Marketing Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Yunus Sattar Jaliwala |
|
172500 |
|
Zohra Yunus Jaliwala |
|
172500 |
|
Faizal Yunus Jaliwala |
|
6337500 |
|
Tasneem Munavar Jaliwala |
|
115000 |
|
Ruksana Jaliwala |
|
115000 |
|
Munavar Yunus Jaliwala |
|
6337500 |
|
Elara India Opportunities Fund Limited, Mauritius |
|
861888 |
|
Total |
|
14111888 |
AS ON 28.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
93.89 |
|
Public/Other than promoters - Bodies corporate |
6.11 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacture, buy, sell, import, export, distribution and dealing in all kinds of readymade garments and apparels, to be appointed as agents and distributors on commission, allowance, retainer ship, incentive basis and in undertaking other allied business activities. [Registered activity and also confirmed by management] |
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Products / Services
: |
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||||
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||||
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Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Available |
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Exports : |
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||||
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw material |
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Countries : |
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|
||||
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Terms : |
|
||||
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Selling : |
Advance Payment |
||||
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|
||||
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Purchasing : |
Advance Payment |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
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Customers : |
Manufacturer
|
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|
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No. of Employees : |
5000 (Approximately) |
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|
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Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Dundlodia and Company Chartered Accountants |
|
Address : |
# 400, Amarjyothi HBCS Layout, Off Inner Ring Road, Domlur Layout, Bangalore-560071, Karnataka, India |
|
PAN No.: |
AIUPD8626P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates Companies: |
|
CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
INR 10/- each |
INR 170.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14111888 |
Equity Shares |
INR 10/- each |
INR 141.119 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 |
141.119 |
141.119 |
132.500 |
|
(b) Reserves and Surplus |
388.501 |
331.507 |
153.444 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
20.000 |
0.000 |
61.776 |
|
Total
Shareholders’ Funds (1) + (2) |
549.620 |
472.626 |
347.720 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
215.838 |
1.437 |
0.398 |
|
(b) Deferred tax liabilities (Net) |
32.020 |
23.297 |
17.790 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
26.660 |
16.502 |
14.965 |
|
Total Non-current
Liabilities (3) |
274.518 |
41.236 |
33.153 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
493.948 |
470.924 |
339.298 |
|
(b) Trade
payables |
296.776 |
194.258 |
322.997 |
|
(c) Other
current liabilities |
123.279 |
95.588 |
129.639 |
|
(d) Short-term
provisions |
56.125 |
49.582 |
28.778 |
|
Total Current
Liabilities (4) |
970.128 |
810.352 |
820.712 |
|
|
|
|
|
|
TOTAL |
1794.266 |
1324.214 |
1201.585 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
445.437 |
309.349 |
290.271 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
24.326 |
0.000 |
6.482 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
134.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
31.590 |
28.558 |
31.558 |
|
(e) Other
Non-current assets |
0.383 |
0.589 |
0.795 |
|
Total Non-Current
Assets |
635.736 |
338.496 |
329.106 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
188.056 |
127.269 |
134.911 |
|
(c) Trade
receivables |
598.258 |
616.780 |
441.643 |
|
(d) Cash and
bank balances |
33.884 |
17.036 |
70.350 |
|
(e)
Short-term loans and advances |
338.332 |
224.633 |
225.575 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1158.530 |
985.718 |
872.479 |
|
|
|
|
|
|
TOTAL |
1794.266 |
1324.214 |
1201.585 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3067.475 |
3057.147 |
3497.989 |
|
|
Other Income |
52.590 |
69.854 |
46.713 |
|
|
TOTAL |
3120.065 |
3127.001 |
3544.702 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1922.557 |
2046.438 |
2384.539 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(14.338) |
(34.230) |
9.857 |
|
|
Employee benefit expense |
732.383 |
635.741 |
435.828 |
|
|
Prior period items before tax |
1.651 |
0.603 |
0.183 |
|
|
Other expenses |
321.524 |
333.781 |
574.088 |
|
|
TOTAL |
2963.777 |
2982.333 |
3404.495 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
156.288 |
144.668 |
140.207 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
31.912 |
25.474 |
33.531 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
124.376 |
119.194 |
106.676 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
35.146 |
29.630 |
22.642 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
89.230 |
89.564 |
84.034 |
|
|
|
|
|
|
|
Less |
TAX |
32.236 |
28.989 |
26.547 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
56.994 |
60.575 |
57.486 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2656.487 |
2707.739 |
3151.033 |
|
|
TOTAL EARNINGS |
2656.487 |
2707.739 |
3151.033 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.04 |
4.39 |
4.34 |
Expected Sales (2017-2018): INR 3500.000 Million (Due to business
growth)
The above information has been parted by Mr. Ronaldo (Accounts
Department)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
16.176 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
138.032 |
(167.298) |
95.549 |
|
Net cash flows from (used in) operating activities |
105.797 |
(196.922) |
69.001 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
71.19 |
73.64 |
46.08 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
5.13 |
4.96 |
7.92 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
56.34 |
34.65 |
49.44 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.83 |
1.14 |
1.04 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.33 |
0.47 |
0.47 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.61 |
0.68 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.32 |
1.00 |
0.98 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.77 |
1.71 |
2.36 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.85 |
0.65 |
0.85 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.90 |
5.68 |
4.18 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
1.86 |
1.98 |
1.64 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.18 |
4.57 |
4.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.37 |
12.82 |
16.53 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.19 |
1.22 |
1.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.00 |
1.06 |
0.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.31 |
0.36 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.14 |
3.35 |
2.56 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.19 |
1.22 |
1.06 |
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 |
132.500 |
141.119 |
141.119 |
|
Reserves & Surplus |
153.444 |
331.507 |
388.501 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
61.776 |
0.000 |
20.000 |
|
Net
worth |
347.720 |
472.626 |
549.620 |
|
|
|
|
|
|
Long-term borrowings |
0.398 |
1.437 |
215.837 |
|
Short term borrowings |
339.298 |
470.924 |
493.948 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
16.176 |
|
Total
borrowings |
339.696 |
472.361 |
725.961 |
|
Debt/Equity
ratio |
0.977 |
0.999 |
1.321 |
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 |
3497.989 |
3057.147 |
3067.475 |
|
|
|
(12.603) |
0.338 |
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 |
3497.989 |
3057.147 |
3067.475 |
|
Profit/ (Loss) |
57.486 |
60.575 |
56.994 |
|
|
1.64% |
1.98% |
1.86% |
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 |
No |
|
20 |
Banking Details |
Yes |
|
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% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
NOTE: Registered office of the company has been
shifted from 8/9, Thambusamy Road, Real Adobe Apartments, Kilpauk,
Chennai-600010, Tamilnadu, India to the
present address w.e.f. 20.03.2013.
COMPANY OVERVIEW
The Company was incorporated on 26 November 2008 and is engaged in the business of manufacture, buy, sell, import, export, distribute or otherwise deal in all kinds of readymade garments and apparels, to be appointed as agents and or distributors on commission, allowance, retainer ship, incentive basis and in undertaking other allied business activities.
STATE OF COMPANY’S
AFFAIRS AND FUTURE OUTLOOK
During the year the Company registered a profit (after tax) of INR 56.994 million. Hence, in comparison to the previous Financial Year ended 31 March 2016 there has been as decrease in profit during the Financial Year ended 31 March 2017 to the extent to INR 3.581 million. The Directors are continuously looking for avenues for future growth and are hopeful that the Company will continue to perform better in the coming years.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
Other loans and advances, others |
107.500 |
0.000 |
|
Total |
107.500 |
0.000 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G35626373 |
100077101 |
Kotak Mahindra Bank Limited |
21/01/2017 |
- |
150000000.0 |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
2 |
G46299871 |
10215690 |
State Bank of India |
17/07/2009 |
19/05/2017 |
677000000.0 |
Specialised Mid Corporate Branch, No.97,Railway Parallel Road, Kumara Park West, Bangalore-560020, Karnataka, India |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and equipment
- Furniture and Fixture
- Computer
- Office equipment
- Motor Vehicles
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 63.41 |
|
|
1 |
INR 88.18 |
|
Euro |
1 |
INR 77.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
BHG |
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 |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.