|
|
|
MIRA INFORM REPORT
|
Report No. : |
514728 |
|
Report Date : |
27.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
TIRUMALA TEXTILES |
|
|
|
|
Registered
Office : |
Shop at Barrack No. 2029, Room No. 14/15, Sai Vasan Shah Bazar Link
Road, Opposite Vasanshah Darbar, Ulhasnagar, Thane – 421005, Maharashtra |
|
Mobile No.: |
91-9890178555 [Mr. Mukesh Vishindas Wadhwa] |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2018 [Provisional] |
|
|
|
|
Year of
Establishment : |
1998 |
|
|
|
|
Capital
Investment : |
INR 16.592 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable [As informed by the management that firm does not
have export and import] |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADPW6513B |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AADPW6513B1ZU |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Trader of Denim Fabric. [Confirmed by Management] |
|
|
|
|
No. of Employees
: |
04 [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 |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a proprietorship concern established in the year 1998. It is a Trader of Denim Fabric. As per the financial records of 2017, the concern has achieved 37.02% growth in its revenue as compared to the previous year revenue along with average profit margin of 2.75%. The satisfactory financial profile of the concern is marked by comfortable capital base along with negligible debt level. Rating takes into consideration long established track record of the concern. Further, Supplier (Nova Textile Private Limited) has claimed that they are satisfied with the subject’s payment behavior and market goodwill. Customers (Dwarka Enterprise and J K Fabrics) also gave positive feedback and claimed that they are satisfied with subject’s product quality and delivery. Banker (The Konark Urban Co- Operative Bank Limited) has given positive feedback and is satisfied with concern’s banking transaction. As per the provisional financial records of 2018, the revenue of the concern has increased by 82.06% along with average profit margin of 2.79%. Business is active. Payment seems to be usually correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. NOTE: Site Visit was conducted at the given address and our executive has successfully traced the subject at the given address. At the premises, our executive met Mr. Mukesh Wadhwa (Proprietor) and he confirmed that the subject is situated on the given address. As per our executive’s observation, it is a 1 storey building entire premises belongs to the subject. Location was easy to find and locality appears to be residential. Area seems to be neutral. Area of premises is approximately 3500 sq. ft. and 05 employees were sighted. Name board of the subject was not sighted. |
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 (31.12.2017) |
Current Rating (01.04.2018) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 27.06.2018
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
|
Name : |
Mr. Mukesh Vishindas Wadhwa |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9890178555 |
|
Date : |
26.06.2018 |
LOCATIONS
|
Registered Office : |
Shop at Barrack No. 2029, Room No. 14/15, Sai Vasan Shah Bazar Link
Road, Opposite Vasanshah Darbar, Ulhasnagar, Thane – 421005, Maharashtra,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9890178555 [Mr. Mukesh Vishindas Wadhwa] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
8500 Sq. Ft. |
|
Location : |
Owned |
|
Locality: |
Residential |
SOLE PROPRIETOR
|
Name : |
Mr. Mukesh Vishindas Wadhwa |
|
Designation : |
Proprietor |
|
Address: |
602, Matmandir Apartment, Opposite Vasanshah Darbar, Ulhasnagar, Thane
– 421005, Maharashtra, India |
|
Date of Birth/Age: |
30.09.1975 |
|
Qualification: |
SY B.Com |
|
Experience: |
20 Years |
|
PAN No.: |
AASPW6513B |
|
Aadhar No.: |
9455 1122 0495 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Denim Fabric. [Confirmed by Management] |
|
|
|
|
Products: |
Denim Fabric |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
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|
|
|
Terms : |
|
|
Selling : |
NEFT, Cheque and Credit [90/ 120 Days] |
|
|
|
|
Purchasing : |
Credit [30 Days] and RTGS |
GENERAL INFORMATION
|
Suppliers : |
· Kanchan Indian Limited · ETCO Denim Private Limited |
||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers
· Deeplaxmi Garments · N K Dresses · Ricky Garments · Sidhivinayak Enterprises · Sai Garments · Sundaram Clothings · Login Jeans |
||||||||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
04 [Approximately] |
||||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
R H Bawejas and Company Chartered Accountants |
|
Membership No.: |
36696 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2018 [PROVISIONAL]
|
Capital Investment : |
|
|
Owned : |
INR 16.592 Million |
|
Borrowed : |
-- |
|
Total : |
INR 16.592
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
16.592 |
10.792 |
7.570 |
|
|
2] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.592 |
10.792 |
7.570 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24.960 |
12.680 |
3.297 |
|
|
2] Unsecured Loans |
29.813 |
13.281 |
9.202 |
|
|
TOTAL BORROWING |
54.773 |
25.961 |
12.499 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
71.365 |
36.753 |
20.069 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.371 |
8.610 |
7.990 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.983 |
0.925 |
0.075 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
24.291
|
20.607
|
8.252
|
|
|
Sundry Debtors |
74.194
|
8.757
|
8.032
|
|
|
Cash & Bank Balances |
2.597
|
2.388
|
0.667
|
|
|
Other Current Assets |
3.693
|
0.644
|
0.000
|
|
|
Loans & Advances |
0.000
|
0.000
|
0.000
|
|
Total
Current Assets |
104.775
|
32.396
|
16.951
|
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
43.399
|
4.910
|
4.906
|
|
|
Other Current Liabilities |
0.365
|
0.268
|
0.041
|
|
|
Provisions |
0.000
|
0.000
|
0.000
|
|
Total
Current Liabilities |
43.764
|
5.178
|
4.947
|
|
|
Net Current Assets |
61.011
|
27.218
|
12.004
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
71.365 |
36.753 |
20.069 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
317.856 |
174.590 |
127.417 |
|
|
|
Other Income |
0.228 |
0.000 |
0.000 |
|
|
|
TOTAL |
318.084 |
174.590 |
127.417 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
296.733 |
162.526 |
118.653 |
|
|
|
Direct Expenses |
|
|
|
|
|
|
Freight and transport |
3.729 |
2.864 |
1.397 |
|
|
|
L B T a/c |
0.006 |
0.000 |
0.690 |
|
|
|
Indirect
Expenses |
|
|
|
|
|
|
Account writing charges |
0.048 |
0.048 |
0.030 |
|
|
|
Computer repair and maint. |
0.023 |
0.000 |
0.000 |
|
|
|
Conveyance expenses |
0.071 |
0.037 |
0.027 |
|
|
|
Discount a/c |
0.354 |
0.053 |
0.028 |
|
|
|
Diwali bonus |
0.080 |
0.040 |
0.035 |
|
|
|
Diwali expenses |
0.038 |
0.038 |
0.021 |
|
|
|
Elec. Bill |
0.036 |
0.061 |
0.057 |
|
|
|
Godown rent |
0.360 |
0.180 |
0.168 |
|
|
|
Hamali expenses |
0.221 |
0.145 |
0.092 |
|
|
|
Legal charges |
0.006 |
0.011 |
0.005 |
|
|
|
Loan insurance charges (o/d) |
0.000 |
0.015 |
0.000 |
|
|
|
Mobile expenses |
0.030 |
0.025 |
0.017 |
|
|
|
Printing and stationery |
0.040 |
0.011 |
0.004 |
|
|
|
Salary |
0.960 |
0.480 |
0.420 |
|
|
|
Shop rent |
0.300 |
0.180 |
0.168 |
|
|
|
Sundry expenses |
0.099 |
0.047 |
0.031 |
|
|
|
Loading and unloading |
0.150 |
0.000 |
0.000 |
|
|
|
Travelling expenses |
0.099 |
0.045 |
0.033 |
|
|
|
Vehicle expenses |
0.077 |
0.055 |
0.031 |
|
|
|
Telephone Bills |
0.017 |
0.005 |
0.009 |
|
|
|
Other Expenses |
0.010 |
0.014 |
0.017 |
|
|
|
TOTAL |
303.487 |
166.880 |
121.933 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
INTEREST, DEPRECIATION AND
AMORTISATION |
14.597 |
7.710 |
5.484 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
5.731 |
2.892 |
2.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE DEPRECIATION AND AMORTISATION |
8.866 |
4.818 |
3.371 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
0.007 |
0.009 |
0.010 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
8.859 |
4.809 |
3.361 |
|
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
85.20 |
18.31 |
23.01 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.28 |
19.94 |
15.86 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
53.38 |
11.03 |
15.09 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.60 |
0.37 |
0.66 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.56 |
0.90 |
0.69 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.86 |
0.74 |
0.70 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
3.30 |
2.41 |
1.65 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.43 |
1.71 |
1.87 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.56 |
0.80 |
1.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.55 |
2.67 |
2.60 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.79 |
2.75 |
2.64 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.69 |
11.47 |
13.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
53.39 |
44.56 |
44.40 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.42 |
1.76 |
1.20 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.09 |
0.64 |
0.61 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.14 |
0.26 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.30 |
2.41 |
1.65 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.42 |
1.76 |
1.20 |
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
|
Particulars |
31.03.2016 |
31.03.2017 |
31.03.2018
[Provisional] |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Capital Account |
7.570 |
10.792 |
16.592 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
7.570 |
10.792 |
16.592 |
|
|
|
|
|
|
Secured Loans |
3.297 |
12.680 |
24.960 |
|
Unsecured Loans |
9.202 |
13.281 |
29.813 |
|
Total
borrowings |
12.499 |
25.961 |
54.773 |
|
Debt/Equity
ratio |
1.651 |
2.406 |
3.301 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018
[Provisional] |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
127.417 |
174.590 |
317.856 |
|
|
|
37.023 |
82.059 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018
[Provisional] |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
127.417 |
174.590 |
317.856 |
|
Profit |
3.361 |
4.809 |
8.859 |
|
|
2.64% |
2.75% |
2.79% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
------------------------------------------------------------------------------------------------------------------------------
OBSERVATION POINTS
|
Name of Company : |
TIRUMALA TEXTILES |
|
|
|
|
Address : |
Shop at Barrack No. 2029, Room No. 14/15, Sai Vasan Shah Bazar Link
Road, Opposite Vasanshah Darbar, Ulhasnagar, Thane – 421005, Maharashtra |
|
Contact No.: |
91-9890178555 |
|
|
|
|
Person to whom we met: |
Mr. Mukesh Vishindas Wadhwa [Proprietor] |
|
|
|
|
Name Board : |
Not Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Total Floors of the Building : |
1 Storey Building |
|
|
|
|
Subject situated on: |
Whole Premises |
|
|
|
|
Locality: |
Residential |
|
|
|
|
Area of Premises : |
3500 Sq. Ft. |
|
|
|
|
Area : |
Neutral |
|
|
|
|
No. of employees seen at premises: |
05 [Approx.] |
|
|
|
|
Visibility of
Items: |
·
Telephone ·
Fax Machine ·
Computers ·
Air Conditioner ·
Office Equipment |
|
|
|
|
Proof of visit: |
Photos and Visiting Card |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
PARTICULARS |
31.03.2018 [Provisional] (INR
In Million) |
31.03.2017 (INR
In Million) |
|
|
|
0.112 |
|
Anil Wadhwa (HUF) |
|
2.194 |
|
Bachu Vishindas (HUF) |
|
2.500 |
|
Hassanand Vishindas |
|
0.500 |
|
Komal Anil Wadhwa |
|
0.500 |
|
Mukesh Textiles |
|
1.200 |
|
Mukesh Wadhwa (HUF) |
|
0.950 |
|
Preeti B Wadhwa |
|
1.650 |
|
Rajkumari Pahilajrai Watwani |
|
0.112 |
|
Vinod K Wadhwa |
|
0.750 |
|
Vishamber P Watwani |
|
0.443 |
|
Vishindas T (HUF) |
|
2.370 |
|
|
|
|
|
Total |
29.813 |
13.281 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BALANCE SHEET
(INR
IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
|
|
|
2019 (Projected) |
2020 (Projected) |
|
SHAREHOLDERS
FUNDS |
|
|
|
Proprietor’s Capital |
22.401 |
27.724 |
|
|
|
|
|
Unsecured Loans - Quasi Equity |
29.814 |
29.814 |
|
|
|
|
|
Equity capital |
52.215 |
57.538 |
|
|
|
|
|
Borrowed Funds |
|
|
|
Secured Loan |
2.575 |
2.157 |
|
|
|
|
|
Total Borrowed
funds |
2.575 |
2.157 |
|
|
|
|
|
Current Liabilities |
|
|
|
Creditors |
26.201 |
27.604 |
|
|
|
|
|
Provision for Tax |
3.873 |
4.045 |
|
|
|
|
|
Other current Liab. |
0.402 |
0.442 |
|
|
|
|
|
Bank Borrowings-OD |
0.000 |
0.000 |
|
|
|
|
|
CC - Bank of India |
45.000 |
45.000 |
|
|
|
|
|
Total |
75.476 |
77.090 |
|
|
|
|
|
TOTAL LIABILITIES |
130.266 |
136.785 |
|
|
|
|
|
ASSETS: |
|
|
|
FIXED ASSETS |
|
|
|
Gross Block |
9.371 |
9.365 |
|
|
|
|
|
Less: Accumulated Depreciation |
0.006 |
0.005 |
|
|
|
|
|
Net Block |
9.365 |
9.359 |
|
|
|
|
|
Investments & Deposits |
1.081 |
1.189 |
|
|
|
|
|
Current Assets |
|
|
|
Stock |
23.948 |
25.145 |
|
|
|
|
|
Debtors |
91.781 |
95.146 |
|
|
|
|
|
Loans and Advances |
0.000 |
0.000 |
|
|
|
|
|
Advance Tax |
3.125 |
3.906 |
|
|
|
|
|
Other Current Assets |
0.764 |
0.840 |
|
|
|
|
|
Cash & Bank |
0.203 |
1.199 |
|
|
|
|
|
Total |
119.820 |
126.236 |
|
|
|
|
|
Profit & Loss Account |
0.000 |
0.000 |
|
|
|
|
|
TOTAL ASSETS |
130.266 |
136.785 |
|
|
|
|
|
Net Working Capital |
44.344 |
49.146 |
|
|
|
|
|
Current Ratio |
1.59 |
1.64 |
|
|
|
|
|
Average Current
Ratio |
1.61 |
|
------------------------------------------------------------------------------------------------------------------------------
PROJECTED PROFIT AND LOSS
(INR
IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
|
|
|
2019 (Projected) |
2020 (Projected) |
|
Income |
|
|
|
Sales |
349.641 |
367.123 |
|
|
|
|
|
Other Income |
0.000 |
0.000 |
|
|
|
|
|
Net Sales |
349.641 |
367.123 |
|
|
|
|
|
Opening Stock |
24.291 |
23.948 |
|
|
|
|
|
Purchase |
318.779 |
335.846 |
|
|
|
|
|
Direct Expenses |
4.296 |
4.940 |
|
|
|
|
|
Less: Closing Stock |
23.948 |
25.145 |
|
|
|
|
|
Cost of Goods Sold |
323.418 |
339.589 |
|
|
|
|
|
Cost of goods |
323.418 |
339.589 |
|
|
|
|
|
Gross Profit |
26.223 |
27.534 |
|
|
|
|
|
GP Ratio (%) |
7.50% |
7.50% |
|
|
|
|
|
Indirect Income |
0.000 |
0.000 |
|
|
|
|
|
Overheads |
|
|
|
Administrative, Selling & Distribution Cost |
4.901 |
5.391 |
|
|
|
|
|
Operating Profit
before Interest & Tax |
21.322 |
22.143 |
|
|
|
|
|
Financial Expenses |
7.828 |
8.078 |
|
|
|
|
|
Operating Profit
After Interest before Tax |
13.494 |
14.065 |
|
|
|
|
|
Add: Interest Income |
0.000 |
0.000 |
|
|
|
|
|
Net profit before
tax |
13.494 |
14.065 |
|
|
|
|
|
Less: Provision for Income Tax |
3.873 |
4.045 |
|
|
|
|
|
Net Profit after Interest
& Tax |
9.621 |
10.021 |
|
|
|
|
|
NP % |
2.75 |
2.73 |
------------------------------------------------------------------------------------------------------------------------------
CASH FLOW STATEMENT
(INR
IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
|
|
|
2019 (Projected) |
2020 (Projected) |
|
CASH IN FLOW |
|
|
|
Net profit before Tax |
9.621 |
10.021 |
|
|
|
|
|
Depreciation |
0.006 |
0.005 |
|
|
|
|
|
Increase in |
|
|
|
Capital |
0.234 |
0.258 |
|
|
|
|
|
Unsecured Loans |
0.000 |
0.000 |
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
|
|
|
|
|
Current Liabilities |
0.000 |
1.614 |
|
|
|
|
|
Bank Borrowings - OD |
0.000 |
0.000 |
|
|
|
|
|
CC - Bank of India |
45.000 |
0.000 |
|
|
|
|
|
Decrease in |
|
|
|
Fixed Assets |
0.000 |
0.000 |
|
|
|
|
|
Deposits & Investments |
0.000 |
0.000 |
|
|
|
|
|
Adv. Tax |
0.000 |
0.000 |
|
|
|
|
|
Current assets other than cash & bank balance |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
CASH-IN-FLOW |
54.862 |
11.898 |
|
|
|
|
|
CASH OUT
FLOW |
|
|
|
Decrease in |
|
|
|
Capital |
4.046 |
4.956 |
|
|
|
|
|
Unsecured Loans |
0.000 |
0.000 |
|
|
|
|
|
Secured Loans |
0.420 |
0.418 |
|
|
|
|
|
Other Current Liabilities |
13.288 |
0.000 |
|
|
|
|
|
Bank Borrowings - OD |
21.965 |
0.000 |
|
|
|
|
|
CC - Bank of India |
0.000 |
0.000 |
|
|
|
|
|
Increase in |
|
|
|
Fixed Assets |
0.000 |
0.000 |
|
|
|
|
|
Deposits and Investments |
0.098 |
0.108 |
|
|
|
|
|
Prepaid Insurance |
0.000 |
0.000 |
|
|
|
|
|
Current Assets other than cash & Bank balance |
17.438 |
5.420 |
|
|
|
|
|
TOTAL CASH
OUT FLOW |
57.256 |
10.902 |
|
|
|
|
|
Opening Cash balance |
2.597 |
0.203 |
|
|
|
|
|
Surplus/Deficit |
(2.394) |
0.996 |
|
|
|
|
|
Closing Cash balance |
0.203 |
1.199 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR.
MUKESH VISHINDAS WADHWA
(INR IN MILLION)
|
PARTICULARS |
28.02.2018 |
|
Capital as on
31.03.2018 |
16.592 |
|
|
|
|
Less: other assets as per CBD 23 |
10.350 |
|
|
------------ |
|
|
6.242 |
|
|
|
|
Add: Present market value of assets of CBD-23 |
19.755 |
|
|
------------ |
|
|
|
|
NET WORTH |
25.997 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
(GENERAL DETAILS)
|
Date as on which valuation is made |
16.06.2016 |
|
|
|
|
Name of the Owner |
Mr. Anil Vishindas
Wadhwa Mr. Mukesh
Vishindas Wadhwa |
|
|
|
|
Location of the property |
Near Old Post Office, Ulhasnagar-421005,
Thane, Maharashtra, India |
|
Description |
Area |
UOM |
Rate INR |
Amount |
|
Cost of Land |
396 |
Sq. Ft. |
45000/- |
INR 17.820 Million |
|
Cost of Construction |
712 |
S. Ft. |
1200/- |
INR 0.854 Million |
|
|
|
|
|
|
|
Total |
|
|
|
INR 18.674 Million |
------------------------------------------------------------------------------------------------------------------------------
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 records exist designating subject or any
of its beneficial owners, controlling shareholders or senior officers as
terrorist or terrorist organization or whom notice had been received that all
financial transactions involving their assets have been blocked or convicted,
found guilty or against whom a judgement or order had been entered in a
proceedings for violating money-laundering, anti-corruption or bribery or
international economic or anti-terrorism sanction laws or whose assets were
seized, blocked, frozen or ordered forfeited for violation of money laundering
or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the
property or assets of the subject are derived from criminal conduct or a
prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No
record exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 68.15 |
|
UK Pound |
1 |
INR 90.27 |
|
Euro |
1 |
INR 79.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
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.
·