|
|
|
MIRA INFORM REPORT
|
Report No. : |
514726 |
|
Report Date : |
27.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
HARE KRISHNA TEXTILES |
|
|
|
|
Registered
Office : |
Shop At Barrack No. 2074, Room No. 9, Opposite Bank of India, Ulhasnagar,
Thane-421005, Maharashtra |
|
Mobile No.: |
91-9822340302 [Mr. Bachu Vishindas Wadhwa] |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2018 [Provisional] |
|
|
|
|
Year of
Establishment : |
1993 |
|
|
|
|
Capital Investment
: |
INR 12.451 Million |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADPW6482D |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AADPW6482D1ZE |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
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|
|
|
Line of Business
: |
Trader of Denim Cloth. [Confirmed by Management] |
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|
|
|
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 |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a proprietorship concern established in the year 1993 and it is a trader of denim cloth. As per financials of March 2017, the subject has a registered a growth of 17.89% in its revenue as compared to its previous year’s revenue and has reported average profit margin of 2.74%. Rating takes into consideration the subject’s established track record of business operations marked by comfortable capital base along with debt free balance sheet and decent liquidity position. Further, customers (Dwarka Enterprises and J K Fabrics) gave positive response about the subject they are satisfied with subject’s product quality and delivery behaviour along with supplier (Nova Textiles Private Limited) gave positive response about the subject and they are satisfied with the subject’s payment behaviour and market goodwill. Banker (The Konark Urban Co-operative Bank Limited) also gave positive response about the subject and they are satisfied with their banking transactions. As per provisional financials of March 2018, the subject has achieved revenue of INR 250.25 million from its operations and has reported average profit margin of 2.92%. Payments seems to be slow but correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. NOTE: Site visit was conducted on the given address which you have provided. Our executive had successfully traced the subject at the given address. At the premises, our executive met with Mr. Bachu V. Wadhwa (Proprietor) and he provided with his contact details (09822340302). As per our executive’s observation, it is a ground + 1 storey building and subject is occupied with whole premises. Area of the premises is 2,500 SQ FT and 3 employees were sighted at the premises. Location was easy to find and locality seems to be residential. Area seems to be down-market. Landmark- Opposite Bank of India. Name board of the subject was sighted at the premises. |
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. Bachu Vishindas Wadhwa |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9822340302 |
|
Date : |
26.06.2018 |
LOCATIONS
|
Registered Office : |
Shop At Barrack No. 2074, Room No. 9, Opposite Bank of India,
Ulhasnagar, Thane-421005, Maharashtra, India |
|
Tel. No.: |
91-251-2529600 |
|
Mobile No.: |
91-9822340302 [Mr. Bachu Vishindas Wadhwa] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
2500 Sq. Ft. |
|
Location : |
Owned |
|
Locality : |
Residential [As per site visit] |
SOLE PROPRIETOR
|
Name : |
Mr. Bachu Vishindas Wadhwa |
|
Designation : |
Proprietor |
|
Address : |
602, Matmandir Apartment, Opposite Vasan Shah Darbar, Ulhasnagar,
Thane-421005, Maharashtra, India |
|
Date of Birth/Age : |
06.12.1973 |
|
Qualification : |
S.Y.B. Com |
|
Experience : |
22 Years |
|
PAN No : |
AADPW6482D |
|
Aadhar Card No : |
6684 7288 6008 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Denim Cloth. [Confirmed by Management] |
|
|
|
|
Products/ Services : |
Denim Cloth |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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|
|
Imports : |
|
|
Products : |
Not Available |
|
Countries : |
Not Available |
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|
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|
Terms : |
|
|
Selling : |
Cheque and Credit [90/120 Days] and Others [NEFT] |
|
|
|
|
Purchasing : |
Credit [30 Days] and Others [RTGS] |
GENERAL INFORMATION
|
Suppliers : |
· G.P Designs Private Limited · ETCO Denim Private Limited |
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Customers : |
Wholesaler
· Jhulelal Traders · Kanya Garments · Jai Ganesh Dresses · R.R Jeans · Jai Mata Di Garments · M. Devidas Garments |
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No. of Employees : |
04 [Approximately] |
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Bankers : |
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Facilities : |
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|
|
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Auditors : |
|
|
Name : |
R. H. Baweja and Company Chartered Accountants |
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|
|
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Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
CAPITAL
ACCOUNT AS ON 31.03.2018 [PROVISIONAL]
|
Capital Investment : |
|
|
Owned : |
INR 12.451 Million |
|
Borrowed : |
--- |
|
Total : |
INR 12.451
Million |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
12.451 |
7.471 |
4.643 |
|
|
2] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12.451 |
7.471 |
4.643 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.197 |
0.000 |
3.030 |
|
|
2] Unsecured Loans |
17.790 |
7.056 |
5.836 |
|
|
TOTAL BORROWING |
31.987 |
7.056 |
8.866 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
44.438 |
14.527 |
13.509 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.290 |
3.592 |
7.015 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.190 |
0.085 |
0.075 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
26.076
|
3.944
|
2.304
|
|
|
Sundry Debtors |
57.804
|
16.465
|
7.658
|
|
|
Cash & Bank Balances |
0.567
|
2.066
|
1.959
|
|
|
Other Current Assets |
0.651
|
0.000
|
0.000
|
|
|
Loans & Advances |
0.000
|
0.000
|
0.000
|
|
Total
Current Assets |
85.098
|
22.475
|
11.921
|
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
44.878
|
11.466
|
5.458
|
|
|
Other Current Liabilities |
0.262
|
0.159
|
0.044
|
|
|
Provisions |
0.000
|
0.000
|
0.000
|
|
Total
Current Liabilities |
45.140
|
11.625
|
5.502
|
|
|
Net Current Assets |
39.958
|
10.850
|
6.419
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
44.438 |
14.527 |
13.509 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
250.252 |
114.339 |
96.988 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
250.252 |
114.339 |
96.988 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
234.963 |
107.544 |
91.487 |
|
|
|
Freight A/c |
0.002 |
0.852 |
0.451 |
|
|
|
Freight A/c (Rcm) |
2.256 |
0.000 |
0.000 |
|
|
|
L.B.T. Paid |
0.018 |
0.000 |
0.492 |
|
|
|
Account Writing Chgs |
0.048 |
0.048 |
0.048 |
|
|
|
Audit Fees |
0.009 |
0.013 |
0.009 |
|
|
|
Computer Repair and Maint |
0.005 |
0.000 |
0.000 |
|
|
|
Conveyance Exp. |
0.122 |
0.082 |
0.080 |
|
|
|
Discount |
0.032 |
0.039 |
0.034 |
|
|
|
Diwali Bonus |
0.063 |
0.040 |
0.040 |
|
|
|
Diwali Exp |
0.042 |
0.021 |
0.019 |
|
|
|
Elec Bills |
0.017 |
0.016 |
0.013 |
|
|
|
Hamali Exp |
0.297 |
0.209 |
0.193 |
|
|
|
Legal Chgs |
0.006 |
0.005 |
0.005 |
|
|
|
Loading and Unloading |
0.231 |
0.000 |
0.000 |
|
|
|
Mis. Expenses |
0.134 |
0.072 |
0.056 |
|
|
|
Mobile Exp. |
0.042 |
0.022 |
0.021 |
|
|
|
Petrol and Diesel Exp. |
0.136 |
0.079 |
0.065 |
|
|
|
Printing and Stationary |
0.019 |
0.010 |
0.008 |
|
|
|
Rent Paid |
0.000 |
0.348 |
0.300 |
|
|
|
Rent Paid (Mukesh Tex) |
0.144 |
0.000 |
0.000 |
|
|
|
Rent Paid (Tirumala Tex) |
0.144 |
0.000 |
0.000 |
|
|
|
Salary |
0.750 |
0.480 |
0.480 |
|
|
|
Shop Rent |
0.384 |
0.000 |
0.000 |
|
|
|
Telephone Bills |
0.003 |
0.011 |
0.009 |
|
|
|
Travelling Exp. |
0.117 |
0.097 |
0.083 |
|
|
|
Vehicle Exp. |
0.120 |
0.049 |
0.033 |
|
|
|
TOTAL |
240.104 |
110.037 |
93.926 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, DEPRECIATION AND AMORTISATION |
10.148 |
4.302 |
3.062 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.806 |
1.139 |
1.026 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE DEPRECIATION AND AMORTISATION |
7.342 |
3.163 |
2.036 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.025 |
0.030 |
0.029 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
7.317 |
3.133 |
2.007 |
|
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
84.31 |
52.56 |
28.82 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.33 |
6.94 |
12.66 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
69.72 |
38.92 |
21.78 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.39 |
1.09 |
1.33 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.37 |
1.20 |
0.44 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.86 |
0.71 |
0.76 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.57 |
0.94 |
1.91 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
5.05 |
2.50 |
2.44 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.34 |
0.48 |
1.51 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.62 |
3.78 |
2.98 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.92 |
2.74 |
2.07 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.17 |
11.98 |
10.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
58.77 |
41.94 |
43.23 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 [Provisional] |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.35 |
1.20 |
1.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.94 |
0.99 |
0.85 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.14 |
0.29 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.57 |
0.94 |
1.91 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.35 |
1.20 |
1.05 |
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 |
31.03.2018 |
31.03.2017 |
31.03.2018 [Provisional] |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Capital Account |
4.643 |
7.471 |
12.451 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4.643 |
7.471 |
12.451 |
|
Secured Loans |
3.030 |
0.000 |
14.197 |
|
Unsecured Loans |
5.836 |
7.056 |
17.790 |
|
Total
borrowings |
8.866 |
7.056 |
31.987 |
|
Debt/Equity
ratio |
1.910 |
0.944 |
2.569 |
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 |
96.988 |
114.339 |
250.252 |
|
|
|
17.890 |
118.868 |
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 |
96.988 |
114.339 |
250.252 |
|
Profit |
2.007 |
3.133 |
7.317 |
|
|
2.07% |
2.74% |
2.92% |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 : |
HARE KRISHNA TEXTILES |
|
|
|
|
Address : |
Shop At Barrack No. 2074, Room No. 9, Opposite Bank of India,
Ulhasnagar, Thane-421005, Maharashtra, India |
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Contact No.: |
91-9822340302 |
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E-Mail : |
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Person to whom we met: |
Mr. Bachu Vishindas Wadhwa [Proprietor] |
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Name Board : |
Sighted |
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Location: |
Easy |
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Landmark (If Any): |
Opposite Bank of India |
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Total Floors of the Building : |
Ground + 1 storey building |
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Subject situated on: |
Whole premises belong to the subject company |
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Locality: |
Residential |
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Area of Premises : |
2500 Sq. Ft |
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Area : |
Down-market |
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No. of employees seen at premises: |
03 [Approximately] |
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Visibility of
Items: |
·
Telephone ·
Fax Machine ·
Computers ·
Air Conditioner ·
Office Equipment |
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Furniture Items
Sighted : |
Yes |
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Proof of visit: |
Photos |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
PARTICULARS |
31.03.2018 (INR In Million) |
31.03.2017 (INR
In Million) |
|
Anil Vishindas Wadhwa (HUF) |
1.775 |
1.750 |
|
Ashok Thakurdas Madnani (HUF) |
1.000 |
0.000 |
|
Bachu Vishindas (HUF) |
0.056 |
0.056 |
|
Bhavika M Wadhwa |
0.105 |
0.200 |
|
Bhojraj Panjumal Lilwani |
1.000 |
0.000 |
|
Harjasrai H. Badlani |
2.500 |
0.000 |
|
Harsha T Khatri |
1.500 |
0.000 |
|
Hitesh P Khatri |
0.600 |
0.000 |
|
Kanchan Srichand Makhija |
0.500 |
0.500 |
|
Kanyalal Dhanwani HUF (Loan) |
1.500 |
0.000 |
|
Kashish Sunil Chhodya |
0.800 |
0.000 |
|
Komal A. Wadhwa |
0.204 |
0.300 |
|
Mahadev Textiles |
0.900 |
0.900 |
|
Manish Makhija |
0.600 |
0.600 |
|
Manoj Santumal Motwani (HUF) |
0.400 |
0.000 |
|
Mukesh Vishindas Wadhwa (HUF) |
1.500 |
1.500 |
|
Srichand Balchand Makhija (HUF) |
0.400 |
0.400 |
|
Sunil Chhodya |
0.900 |
0.000 |
|
Tirlok Bhojraj Lilwani |
0.700 |
0.000 |
|
Vishindas T. (HUF) |
0.850 |
0.850 |
|
|
|
|
|
Total |
17.790 |
7.056 |
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PROJECTED CASH FLOW STATEMENT
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
||
|
2018-19 Projected |
2019-20 Projected |
2020-21 Projected |
|
|
CASH
IN FLOW |
|
|
|
|
|
|
|
|
|
Net
profit |
9.632 |
10.838 |
12.455 |
|
|
|
|
|
|
Depreciation |
0.021 |
0.018 |
0.015 |
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Increase
in |
|
|
|
|
Capital |
0.070 |
0.077 |
0.085 |
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|
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|
Unsecured
Loans |
0.000 |
0.000 |
0.000 |
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|
Secured
Loan |
0.000 |
0.000 |
0.000 |
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Current
Liabilities |
0.000 |
0.763 |
0.776 |
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Bank
OD |
0.000 |
0.000 |
0.000 |
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Cash
credit |
40.000 |
0.000 |
0.000 |
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Decrease
in |
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|
Fixed
Assets |
0.000 |
0.000 |
0.000 |
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Deposits |
0.000 |
0.000 |
0.000 |
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Current assets other than
cash & bank balance |
3.510 |
0.000 |
0.000 |
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|
Miscellaneous
Expenditure |
0.000 |
0.000 |
0.000 |
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|
|
|
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TOTAL
CASH-IN-FLOW |
53.233 |
11.697 |
13.332 |
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CASH
OUT FLOW |
|
|
|
|
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|
|
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Decrease in |
|
|
|
|
Capital |
1.000 |
1.100 |
1.210 |
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Secured
loan |
0.000 |
0.000 |
0.000 |
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Current Liabilities |
38.001 |
0.000 |
0.000 |
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Bank
OD with Konark Bank |
14.197 |
0.000 |
0.000 |
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Increase
in |
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|
Fixed
Assets |
0.000 |
0.000 |
0.000 |
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Current Assets other than
cash & Bank balance |
0.000 |
9.364 |
11.814 |
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Investments |
0.019 |
0.021 |
0.023 |
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Miscellaneous
Expenditure |
0.000 |
0.000 |
0.000 |
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TOTAL
CASH OUT FLOW |
53.217 |
10.485 |
13.047 |
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Opening
Cash balance |
0.567 |
0.583 |
1.796 |
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Surplus/Deficit |
0.016 |
1.212 |
0.285 |
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Closing
Cash balance |
0.583 |
1.796 |
2.081 |
------------------------------------------------------------------------------------------------------------------------------
PROPRIETOR’S CAPITAL
ACCOUNT
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
||
|
2018-19 Projected |
2019-20 Projected |
2020-21 Projected |
|
|
Opening Balance |
12.451 |
21.153 |
30.969 |
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|
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Income |
0.070 |
0.077 |
0.085 |
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Drawings & other Expenses |
1.000 |
1.100 |
1.210 |
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Interest on Housing Loan |
--- |
--- |
--- |
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Net Profit after Tax |
9.632 |
10.838 |
12.455 |
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Closing Balance |
21.153 |
30.969 |
42.299 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BALANCE SHEET
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
||
|
2018-19 Projected |
2019-20 Projected |
2020-21 Projected |
|
|
ASSETS: |
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|
FIXED
ASSETS |
|
|
|
|
WDV
b/f |
4.290 |
4.269 |
4.251 |
|
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|
|
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Less:
Depreciation |
0.021 |
0.018 |
0.015 |
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WDV C/f |
4.269 |
4.251 |
4.235 |
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Investments |
0.209 |
0.230 |
0.253 |
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Current
Assets: |
|
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|
Stock |
26.396 |
29.036 |
31.940 |
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Debtors |
53.908 |
60.561 |
69.393 |
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Other
Assets |
0.716 |
0.788 |
0.866 |
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Cash
& Bank |
0.583 |
1.796 |
2.081 |
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Total
(A) |
81.604 |
92.181 |
104.280 |
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TOTAL
ASSETS |
86.082 |
96.661 |
108.768 |
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OWN
FUNDS |
|
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|
Capital
Account |
21.153 |
30.969 |
42.299 |
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|
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Unsecured Loans - Quasi Equity |
17.789 |
17.789 |
17.789 |
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|
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Owners
Equity |
38.942 |
48.758 |
60.088 |
|
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BORROWED
FUNDS |
|
|
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|
PNB
HSG Loan (1/2 Share) |
0.000 |
0.000 |
0.000 |
|
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Borrowed
Capital |
0.000 |
0.000 |
0.000 |
|
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Current
Liabilities: |
|
|
|
|
Creditors
for Goods |
6.872 |
7.622 |
8.384 |
|
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|
|
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Other
Current Liabilities |
0.269 |
0.282 |
0.296 |
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Provision
for Tax |
0.000 |
0.000 |
0.000 |
|
|
|
|
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|
Bank
OD |
0.000 |
0.000 |
0.000 |
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|
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Bank
Borrowings CC Limit |
40.000 |
40.000 |
40.000 |
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Total
(B) |
47.141 |
47.904 |
48.680 |
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TOTAL
LIABILITIES |
86.082 |
96.661 |
108.768 |
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Net
Working Capital |
34.464 |
44.277 |
55.600 |
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Current
Ratio |
1.73 |
1.92 |
2.14 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED PROFIT
& LOSS ACCOUNT
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
||
|
2018-19 Projected |
2019-20 Projected |
2020-21 Projected |
|
|
Income |
|
|
|
|
Sales |
275.277 |
302.805 |
333.085 |
|
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Net
Sales |
275.277 |
302.805 |
333.085 |
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|
Opening
Stock |
26.076 |
26.396 |
29.036 |
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Purchase |
250.823 |
278.192 |
306.011 |
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Less:
Closing Stock |
26.396 |
29.036 |
31.940 |
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Cost
of Goods Sold |
250.502 |
275.552 |
303.108 |
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Direct
Expenses |
|
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Freight |
2.483 |
2.607 |
2.660 |
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LBT |
0.000 |
0.000 |
0.000 |
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Depreciation |
0.021 |
0.018 |
0.015 |
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Total |
2.505 |
2.626 |
2.675 |
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Gross
Profit |
22.270 |
24.627 |
27.303 |
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|
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GP
Ratio (%) |
8.09% |
8.13% |
8.20% |
|
|
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Indirect
Incomes |
0.000 |
0.000 |
0.000 |
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Overheads |
|
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Administrative
Expenses |
3.326 |
3.659 |
4.025 |
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Operating
Profit before Interest & Tax |
18.944 |
20.968 |
23.278 |
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Financial
Expenses- Int on CC& Unsecured Loan |
5.435 |
5.735 |
5.735 |
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Operating Profit After
Interest before Tax |
13.509 |
15.233 |
17.543 |
|
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Net
profit before tax |
13.509 |
15.233 |
17.543 |
|
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|
Less: Provision for
Income Tax |
3.878 |
4.395 |
5.088 |
|
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|
Net Profit after Interest
& Tax |
9.632 |
10.838 |
12.455 |
-----------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR. BACHU VISHINDAS
WADHWA
(INR IN MILLION)
|
PARTICULARS |
AMOUNT |
|
Capital as on 31.03.2018 |
12.451 |
|
|
|
|
Less: Other Assets as per CBD-23 |
4.480 |
|
|
---------- |
|
Total |
7.971 |
|
|
|
|
Add: Present Market Value of Assets of CBD-23 |
14.869 |
|
|
---------- |
|
NETWORTH |
22.840 |
-----------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
(GENERAL DETAILS)
|
Date as on which valuation is made |
10.06.2017 |
|
|
|
|
Name of the Owner |
Mrs. Komal
Anilkumar Wadhwa and Mrs. Bhavika Mukesh
Wadhwa |
|
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|
Brief description of the property |
It is a commercial premises being Land &/Or Building having a Ground and 1 upper floor, bearing “Room No. 9”, situated in Barrack No. 2074 |
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|
Location, street, ward no. |
Near Old Post Office, Ulhasnagar-421005, District Thane, Maharashtra |
|
Fair Market Value |
INR 25.170 Million |
|
|
|
|
Open Market Price (a+5%) |
INR 26.429 Million |
|
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|
Distress/ Forced Sale Value (a-10%) |
INR 22.654 Million |
|
|
|
|
Replacement Value for insurance purpose |
INR 0.968 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
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.17 |
|
|
1 |
INR 90.47 |
|
Euro |
1 |
INR 79.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
IND |
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.