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MIRA INFORM REPORT
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Report No. : |
515627 |
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Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
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Name : |
RIDDHI SIDDHI TRACTORS |
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Registered
Office : |
37, Silver Hill Colony, District Dhar – 454001, Madhya Pradesh |
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Mob. No.: |
91-9893006262 (Mr. Chetan Rao) |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Year of
Establishment: |
January 2016 |
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Capital
Investment : |
Not Divulged |
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IEC No.: [Import-Export Code No.] |
Not Applicable (As informed by the management that firm does not have export and import) |
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PAN No.: [Permanent Account No.] |
AARFR7943J |
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GSTN : [Goods & Service Tax
Registration No.] |
23AARFR7943J1ZL |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Dealer of Tractors. [Confirmed by Management] |
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No. of Employees
: |
24 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 34000 [INR 2307406.60] |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a partnership firm established in the year 2016. It is a
dealer of tractors and holds an agency of Escorts Limited. Mr. Chetan Rao [Partner] has claimed that the firm has achieved
revenue of INR 110.000 Million for the financial year 2017 and INR 120.000
Million for the financial year 2018. Rating is constrained on account of limited track record of the
subject. Payment seems to be slow but correct. In view of aforesaid, the firm can be considered for business dealings
with some caution. NOTE: Site visit was
conducted at the address which you have provided and our executive has
successfully traced the subject on the given address. At the premises our executive met Mr. Arjun Patidar [Partner] who
confirmed the subject existence on the given address. During the visit our executive inquired with the neighbor
company-Astral Pipe who claimed that the subject exist on the given address. As per our executive’s observation, it is 1 storey building and
subject is situated on the ground floor of the building. Location was easy to
find. Locality appears to be commercial. Area seems to be neutral. Area of
premises is 1500 Sq. ft. and 04 employees were sighted in the premises. Name board of the subject was sighted at the given address. |
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
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Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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
31-03-2018.
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 23.06.2018
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
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Name : |
Mr. Chetan Rao |
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Designation : |
Partner |
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Contact No.: |
91-9893006262 |
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Date : |
22.06.2018 |
LOCATIONS
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Registered Office : |
37, Silver Hill Colony, District Dhar – 454001, Madhya Pradesh, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9893006262 (Mr. Chetan Rao) |
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Fax No.: |
Not Available |
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E-Mail : |
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Area : |
1500 Sq. ft. |
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Location : |
Rented |
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Locality : |
Commercial |
PARTNERS
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Name : |
Mr. Chetan Rao |
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Designation : |
Partner |
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Name : |
Mr. Arjun Patidar |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Dealer of Tractors. [Confirmed by Management] |
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Products/ Services : |
Tractors |
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Brand Names : |
Not Available |
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Agencies Held : |
Escorts Limited |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Advance Payment, Cheque and Credit |
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Purchasing : |
Advance Payment, Cheque and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
24 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Mr. Ashok Sujan Chartered Accountant |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in INR Million]
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PARTICULARS |
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31.03.2018 |
31.03.2017 |
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Sales Turnover (Approximately) |
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120.000 |
110.000 |
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Expected Sales (2018-2019) : INR 140.000 Million
The above information has been parted by Mr. Chetan Rao [Partner]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
FINANCIAL ANALYSIS
[all figures are
in INR Million]
YEAR-ON-YEAR GROWTH
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Year
on Year Growth |
31.03.2017 |
31.03.2018 |
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INR
In Million |
INR
In Million |
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Sales Turnover (Approximately) |
110.000 |
120.000 |
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9.091 |
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
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1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
Yes |
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5 |
Buyer visit details |
Yes |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
No |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
No |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
No |
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18 |
Major suppliers |
No |
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19 |
Major customers |
No |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
No |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last two years |
Yes |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
Yes |
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29 |
Profitability for last two years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
No |
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32 |
Litigations that the firm/promoter
involved in |
-- |
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33 |
Market information |
-- |
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34 |
Payments terms |
Yes |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OBSERVATION POINTS
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Name of Company : |
RIDDHI SIDDHI TRACTORS |
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Address : |
37, Silver Hill Colony, District Dhar – 454001, Madhya Pradesh,
India |
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Contact No.: |
91-9893006262 |
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Person to whom we met: |
Mr. Arjun Patidar [Partner] |
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Name Board : |
Sighted |
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Location: |
Easy |
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Landmark (If Any): |
Silver Hills |
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Total Floors of the Building : |
1 Storey Building |
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Subject situated on: |
Ground Floor |
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Locality: |
Commercial |
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Area of Premises : |
1500 Sq. ft. |
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Area : |
Neutral |
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No. of employees seen at premises: |
4 [Approx.] |
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Visibility of
Items: |
·
Telephone ·
Computers ·
Office Equipment ·
Xerox Machine |
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Neighbours Interview : |
During the visit our executive inquired with the neighbor company-Astral
Pipe who claimed that the subject exist on the given address. |
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Proof of visit: |
Photos |
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
|
Indian Rupees |
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US Dollar |
1 |
INR 67.77 |
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UK Pound |
1 |
INR 89.96 |
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Euro |
1 |
INR 78.86 |
INFORMATION DETAILS
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Information Gathered
by : |
SAV |
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Analysis Done by
: |
NIY |
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Report Prepared
by : |
BVA |
SCORE FACTORS
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.