|
|
|
MIRA INFORM REPORT
|
Report No. : |
486906 |
|
Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
COMET CABLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-Wing, 1st Floor, Vini Classic Building, Maharashtra Nagar, M.G.
Road, Near
Dahanukar Wadi, Kandivali [West], Mumbai – 400067, Maharashtra |
|
Tel. No.: |
91-22-28694177 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
07.06.1996 |
|
|
|
|
Com. Reg. No.: |
11-100076 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.947
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31100MH1996PTC100076 |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm does
not have export and import) |
|
|
|
|
GSTIN: |
27AAACC4372Q1Z8 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACC4372Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
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|
|
No. of Employees
: |
08 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Exists |
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|
|
Comments : |
Subject was incorporated in the year 1996 and it is a manufacturer of
electric motors, generators and transformers. As per financials of March 2017, the company has registered a growth
of 23.75% in its revenue as compared to its previous year’s revenue and has
reported fair profit margin of 3.51% under review. Rating takes into consideration the company’s established track record
of business operations marked by sound networth base along with low solvency
indicators and decent liquidity position.
Further, the company has reported a good earnings per share of INR
105.88 million against its face value of INR 10. Payments are reported to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions.
|
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 19.01.2018
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. Hemendra Sawant |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-28694177 |
|
Date : |
18.01.2018 |
LOCATIONS
|
Registered Office : |
A-Wing, 1st Floor, Vini Classic Building, Maharashtra Nagar,
M.G. Road, Near
Dahanukar Wadi, Kandivali [West], Mumbai – 400067, Maharashtra, India |
|
Tel. No.: |
91-22-28694177/ 28694377/ 28694977 |
|
Mobile No.: |
91-9322231158 [Mr. Jayesh] |
|
Fax No.: |
91-22-28695977 |
|
E-Mail : |
|
|
|
|
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Warehouse: |
Located:
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Jayesh Narandas Kotak |
|
Designation : |
Director |
|
Address : |
B-704, Raj Residency I CHS Limited, Mahavir Nagar, Dahanukarwadi, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
05.02.1962 |
|
Date of Appointment : |
07.06.1996 |
|
PAN No.: |
ABZPK6935G |
|
DIN No.: |
02194816 |
|
|
|
|
Name : |
Mrs. Hema Jayesh Kotak |
|
Designation : |
Director |
|
Address : |
B-704, Raj Residency I CHS Limited, Mahavir Nagar, Dahanukarwadi, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
16.10.1968 |
|
Date of Appointment : |
01.04.1997 |
|
PAN No.: |
AAXPK1661N |
|
DIN No.: |
02194842 |
KEY EXECUTIVES
|
Name : |
Mr. Hemendra Sawant |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Jayesh N. Kotak |
|
34500 |
|
Hema J. Kotak |
|
25500 |
|
Narandas D. Kotak |
|
31500 |
|
Jayaben N. Kotak |
|
3000 |
|
Mukesh N. Kotak |
|
1 |
|
Meghna M. Kotak |
|
50 |
|
Pankaj Thakkar |
|
1 |
|
Ajay N. Kotak |
|
50 |
|
Harsha A. Kotak |
|
50 |
|
Total |
|
94652 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
|
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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 : |
|
|
Selling : |
L/C, Cheque and Credit (30 Days) |
|
|
|
|
Purchasing : |
L/C, Cheque and Credit (30 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
08 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
A.G. Thakkar and Company Chartered Accountants |
|
Address : |
213, Stanford Plaza, Plot No.B-65, Off Andheri Link Road, Andheri
[West], Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26733066/ 66916775 |
|
Mobile No.: |
91-9324242916 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABPT4275B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
--- |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
INR 10/- each |
INR 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94,652 |
Equity Shares |
INR 10/- each |
INR 0.947
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.947 |
0.947 |
0.947 |
|
(b) Reserves & Surplus |
81.437 |
71.415 |
61.515 |
|
(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) |
82.384 |
72.362 |
62.462 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
34.498 |
61.411 |
41.862 |
|
(b) Deferred tax liabilities (Net) |
0.264 |
0.254 |
0.226 |
|
(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) |
34.762 |
61.665 |
42.088 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
47.776 |
42.874 |
89.076 |
|
(c) Other
current liabilities |
3.044 |
3.063 |
3.928 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
50.820 |
45.937 |
93.004 |
|
|
|
|
|
|
TOTAL |
167.966 |
179.964 |
197.554 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2.715 |
2.865 |
2.624 |
|
(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 |
0.035 |
0.035 |
0.035 |
|
(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 |
2.750 |
2.900 |
2.659 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
25.613 |
37.881 |
45.727 |
|
(c) Trade
receivables |
100.749 |
91.487 |
107.882 |
|
(d) Cash
and cash equivalents |
37.836 |
43.785 |
34.008 |
|
(e) Short-term
loans and advances |
0.069 |
0.908 |
1.585 |
|
(f) Other
current assets |
0.949 |
3.003 |
5.693 |
|
Total
Current Assets |
165.216 |
177.064 |
194.895 |
|
|
|
|
|
|
TOTAL |
167.966 |
179.964 |
197.554 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
285.814 |
230.957 |
299.450 |
|
|
Other Income |
18.697 |
33.222 |
14.356 |
|
|
TOTAL |
304.511 |
264.179 |
313.806 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
265.920 |
224.457 |
280.895 |
|
|
Employees benefits
expense |
6.544 |
10.210 |
6.710 |
|
|
Manufacturing,
Administration and Other Expenses |
11.235 |
10.163 |
5.370 |
|
|
TOTAL |
283.699 |
244.830 |
292.975 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
20.812 |
19.349 |
20.831 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
5.319 |
4.960 |
8.322 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
15.493 |
14.389 |
12.509 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.243 |
0.268 |
0.227 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
15.250 |
14.121 |
12.282 |
|
|
|
|
|
|
|
Less |
TAX |
5.228 |
4.700 |
4.076 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
10.022 |
9.421 |
8.206 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
105.88 |
99.53 |
86.70 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
128.66 |
144.58 |
131.50 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.84 |
2.52 |
2.78 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
65.58 |
69.72 |
115.75 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.81 |
0.51 |
0.46 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
7.67 |
6.75 |
7.94 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.51 |
0.60 |
0.68 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.42 |
0.85 |
0.67 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.62 |
0.63 |
1.49 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.03 |
0.04 |
0.04 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.91 |
3.90 |
2.50 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
3.51 |
4.08 |
2.74 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.97 |
5.23 |
4.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
12.16 |
13.02 |
13.14 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.25 |
3.85 |
2.10 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.75 |
3.03 |
1.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.49 |
0.40 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
36.43 |
64.85 |
44.20 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.25 |
3.85 |
2.10 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR In
Million |
INR
In Million |
|
Share Capital |
0.947 |
0.947 |
0.947 |
|
Reserves & Surplus |
61.515 |
71.415 |
81.437 |
|
Net
worth |
62.462 |
72.362 |
82.384 |
|
|
|
|
|
|
long-term borrowings |
41.862 |
61.411 |
34.498 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
41.862 |
61.411 |
34.498 |
|
Debt/Equity
ratio |
0.670 |
0.849 |
0.419 |
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 |
299.450 |
230.957 |
285.814 |
|
|
|
(22.873) |
23.752 |
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 |
299.450 |
230.957 |
285.814 |
|
Profit |
8.206 |
9.421 |
10.022 |
|
|
2.74% |
4.08% |
3.51% |
LEGALS
FILE
|
Case Details |
|
Bench:-Bombay |
||
|
Presentation Date:- |
21/09/2017 |
||||||||
|
Lodging
No.:- |
CHSCDL/286/2017 |
Filing
Date:- |
21/09/2017 |
||||||
|
Main Matter |
|
Lodging
No.:- |
Reg
No.:- |
CARBP/442/2017 |
|
Petitioner:- |
PRYSMIAN
CAVI E SISTEMI S.R.L. |
Respondent:- |
COMET CABLES PRIVATE LIMITED |
|
Resp.Adv.:- |
VIMADALAL
ND COMPANY (0) |
|
District:- |
OUTSIDE
MAHARASHTRA |
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
CHAMBER
SUMMONS IN COMMERCIAL DIVISION MATTERS |
|
Last
Date:- |
28/09/2017 |
Stage:- |
AT
3.00 PM |
|
Last
Coram:- |
HON'BLE
SHRI JUSTICE M.S. SANKLECHA |
|
Act
:- |
Arbitration
and Conciliation Act 1996 |
|
Bench:-Bombay |
|
Presentation Date:- |
09/08/2017 |
|||||||
|
Lodging
No.:- |
CARBPL/358/2017 |
Filing
Date:- |
09/08/2017 |
Reg.
No.:- |
CARBP/442/2017 |
Reg.
Date:- |
28/08/2017 |
|
|
Petitioner:- |
PRYSMIAN
CAVI E SISTEMI S.R.L. |
|
Respondent:- |
COMET CABLES PRIVATE LIMITED |
|
|
Petn.Adv.:- |
Bharucha
and partners (190) |
Resp.Adv.:- |
VIMADALAL
ND COMPANY (0) |
|
|
District:- |
OUTSIDE
MAHARASHTRA |
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
ARBITRATION
PETITION U/S 47 OF ARBITRATION AND CONCILIATION ACT, 1996 |
|
Next
Date:- |
21/02/2018 |
Stage:- |
ARBP
FOR ADMISSION U/S 34 FRESH |
|
Coram:- |
HON'BLE
SHRI JUSTICE R.D. DHANUKA |
|
Last
Date:- |
11/01/2018 |
Stage:- |
ARBP
FOR ADMISSION U/S 34 FRESH |
|
Last
Coram:- |
HON'BLE
SHRI JUSTICE R.D. DHANUKA |
|
Act
:- |
Arbitration
and Conciliation Act 1996 |
Under
Section:- |
47 |
|
Presentation Date:- |
06/09/2017 |
|
|||||||
|
Lodging No.:- |
NMCDL/561/2017 |
Filing Date:- |
06/09/2017 |
Reg. No.:- |
NMCD/555/2017 |
Reg. Date:- |
14/09/2017 |
||
|
Main Matter |
|
Lodging No.:- |
Reg No.:- |
CARBP/442/2017 |
|
Petitioner:- |
PRYSMIAN CAVI E SISTEMI S.R.L |
Respondent:- |
COMET CABLES
PRIVATE LIMITED |
|
Petn.Adv.:- |
Bharucha and partners (190) |
|
District:- |
OUTSIDE MAHARASHTRA |
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
NOTICE OF MOTIONS IN COMMERCIAL DIVISION
MATTERS |
|
Last Date:- |
28/09/2017 |
Stage:- |
AT 3.00 PM |
|
Last Coram:- |
HON'BLE SHRI JUSTICE M.S. SANKLECHA |
|
Act :- |
Arbitration and Conciliation Act 1996 |
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 |
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 |
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
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% |
-- |
|
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 |
Yes |
|
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
During the year the Company reported the total revenue of INR 304.511 million as compared to INR 264.179 million previous years. As a result of this the Company could achieve a Profit after tax of INR 10.022 million as against the profit of INR 9.421 million in the corresponding period of the previous year.
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Terms Loan |
30.588 |
33.267 |
|
|
|
|
|
Total |
30.588 |
33.267 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
Z01586729 |
80065335 |
INDIAN BANK |
16/03/2005 |
- |
- |
3000000.0 |
Malad Branch, 679, S.V. Road, Malad (West), Mumbai-400064, Maharashtra, India |
|
2 |
B30074157 |
90240686 |
THE KUPOL CO-OP BANK LTD. |
30/05/2000 |
- |
03/01/2012 |
2500000.0 |
Kupol Wadi, Marul Road, Malad (West), Mumbai-400064, Maharashtra, India |
FIXED ASSETS:
v
Furniture & Fixtures
v
Computers
v
Motor Car
v
Air Conditioner
v
Office Equipment
v
Office Premises
v
Distribution Network Rights
v Software
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 63.84 |
|
|
1 |
INR 88.28 |
|
Euro |
1 |
INR 77.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPY |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.