|
|
|
MIRA INFORM REPORT
|
Report No. : |
493865 |
|
Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
HARSHVARDHAN COMMERCIALS LLP |
|
|
|
|
Registered
Office : |
NX 5-1, Sanjiva Chawl, Tirandaj Village, Opposite I.I.T. Main Gate, Powai, Mumbai-400076, Maharashtra |
|
Tel. No.: |
91-22-67087288/ 89/ 90/ 91 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.01.2018 [Provisional] |
|
|
|
|
Date of
Incorporation : |
01.05.2017 |
|
|
|
|
Total Obligation
of Contribution : |
INR 0.050 Million |
|
|
|
|
LLPIN: |
AAJ-3059 |
|
|
|
|
IEC No.: |
Not Applicable (As informed by the management that firm does not have export and import) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKFH3071J |
|
|
|
|
GST No.: |
27AAKFH3071J127 |
|
|
|
|
Legal Form : |
Limited Liability Partnership Firm |
|
|
|
|
Line of Business
: |
Trader and Wholesaler of Petroleum Coke, petroleum Bitumen and Other Residues
of Petroleum Oils or of Oils obtained from Bituminous Minerals, Angles,
Shapes and Sections of Iron or Non-Alloy Steel, Aluminium Bars, Rods and
Profiles, Other Plates, Sheets, Film, Foil and Strip, of Plastics,
Non-Cellular and not Reinforced, Laminated, Supported or similarly combined
with other Materials, Woven Fabrics of Cotton. [Confirmed by Management] |
|
|
|
|
No. of Employees
: |
05 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
NB |
|
Credit Rating |
Explanation |
Rating Comments |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new limited liability partnership (LLP) and was established in May, 2017. It is a Trader and Wholesaler of Petroleum Coke, petroleum Bitumen and Other Residues of Petroleum Oils or of Oils obtained from Bituminous Minerals, Angles, Shapes and Sections of Iron or Non-Alloy Steel, Aluminium Bars, Rods and Profiles, Other Plates, Sheets, Film, Foil and Strip, of Plastics, Non-Cellular and not Reinforced, Laminated, Supported or similarly combined with other Materials, Woven Fabrics of Cotton. For the financial year 2017, the firm has achieved sales turnover of INR 143.73 (Audited Figures for 9 Months) along with low profit margin of 0.26%. The moderate financial profile of the firm is marked by modest capital base. Rating is constrained on account of limited track record of the firm. However, we have received satisfactory feedback regarding the business transactions from its Supplier (Blue Cross Commodities Private Limited). Banker (IndusInd Bank Limited) has also given positive feedback and is satisfied with subject’s banking transaction. Payment seems to be slow but correct. In the view of subject’s infancy, dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable. |
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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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
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 01.03.2018
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. Prakash Bihani |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9769990787 |
|
Date : |
21.02.2018 |
LOCATIONS
|
Registered Office : |
NX 5-1, Sanjiva Chawl, Tirandaj Village, Opposite I.I.T. Main Gate, Powai, Mumbai-400076, Maharashtra, India |
|
Tel. No.: |
91-22-67087288/ 89/ 90/ 91 |
|
Mobile No.: |
91-9769990787 [Mr. Prakash Bihani] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
450 Sq. Ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
116/3, Taloja Majkur, Taluka Panvel, District Raigad-410208, Maharashtra, India |
|
Location : |
Owned |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Santosh Balwant Hutke |
||||||||||||||||
|
Designation : |
Designated Partner |
||||||||||||||||
|
Address : |
NX 5-1, Sanjiva Chawl, Tirandaz Gavthan, Powai (East) Mumbai-400076, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
06.04.1972 |
||||||||||||||||
|
Date of Appointment : |
01.05.2017 |
||||||||||||||||
|
DIN No.: |
05106801 |
||||||||||||||||
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Umesh Govind Raut |
||||||||||||||||
|
Designation : |
Designated Partner |
||||||||||||||||
|
Address : |
Room No.1380, Shri Krishna Welfare Society, Palhar Road, Bilala Pada, Nalasopara
(East), Palghar-401209, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
03.04.1973 |
||||||||||||||||
|
Date of Appointment : |
01.05.2017 |
||||||||||||||||
|
DIN No.: |
05106810 |
||||||||||||||||
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Prakash Bihani |
|
Designation : |
Chief Executive Officer |
CONTRIBUTION DETAILS
|
Names of Persons |
|
Amount in
Million |
|
Santosh Balwant Hutke |
|
0.029 |
|
Umesh Govind Raut |
|
0.001 |
|
|
|
|
|
Total |
|
0.030 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Wholesaler of Petroleum Coke, petroleum Bitumen and Other Residues
of Petroleum Oils or of Oils obtained from Bituminous Minerals, Angles,
Shapes and Sections of Iron or Non-Alloy Steel, Aluminium Bars, Rods and
Profiles, Other Plates, Sheets, Film, Foil and Strip, of Plastics,
Non-Cellular and not Reinforced, Laminated, Supported or similarly combined
with other Materials, Woven Fabrics of Cotton. [Confirmed by Management] |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Products : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Brand Names : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Agencies Held : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Exports : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Imports : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Terms : |
|
||||||||||||||||||
|
Selling : |
Credit |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Purchasing : |
Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesaler, Retailers and Others
[Traders]
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
05 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S M Bhat and Associates Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
|
Total Obligation of Concern |
INR 0.030 Million |
AS ON: 31.03.2018 [PROVISIONAL]
|
Capital Investment : |
|
|
Owned : |
INR 0.050 Million |
|
Borrowed : |
-- |
|
Total : |
INR 0.050
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.01.2018 [Provisional] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
|
|
0.050 |
|
|
2] Reserves & Surplus |
|
|
0.000 |
|
|
3] (Accumulated Losses) |
|
|
0.369 |
|
|
NETWORTH |
|
|
0.419 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.419 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
24.806
|
|
|
Cash & Bank Balances |
|
|
0.363
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
0.150
|
|
Total
Current Assets |
|
|
25.319
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
24.807
|
|
|
Other Current Liabilities |
|
|
0.093
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
24.900
|
|
|
Net Current Assets |
|
|
0.419
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.419 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.01.2018 [Provisional] |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
|
143.731 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
143.731 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Goods Sold |
|
|
143.216 |
|
|
|
|
Conveyance A/C |
|
|
0.024 |
|
|
|
Printing and Stationery A/c |
|
|
0.019 |
|
|
|
Salary A/c |
|
|
0.093 |
|
|
|
Sundry Expenses A/c |
|
|
0.001 |
|
|
|
Tea and Refreshment A/c |
|
|
0.008 |
|
|
|
TOTAL |
|
|
143.361 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE INTEREST AND
DEPRECIATION AND AMORTISATION |
|
|
0.370 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE, DEPRECIATION AND AMORTISATION |
|
|
0.369 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/ (LOSS) |
|
|
0.369 |
|
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.01.2018 [Provisional] |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
|
0.92 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
395.95 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
63.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
0.01 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.01.2018 [Provisional] |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
0.98 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
59.43 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
370.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.01.2018 [Provisional] |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
|
0.26 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
1.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
88.07 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.01.2018 [Provisional] |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
|
1.02 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
0.02 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.02 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
1.02 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
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 |
No |
|
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 Nine Months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last Nine Months |
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 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
CHANGE OF ADDRESS:
As Confirmed by Mr. Prakash Bihani [Chief Executive Officer] that the Registered address of the company has been shifted from “35, Queens Lawn, 967, S.V. Road, Vile Parle (West), Mumbai-400056, Maharashtra, India” to present address but not updated in Government Registry.
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 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 65.10 |
|
UK Pound |
1 |
INR 90.45 |
|
Euro |
1 |
INR 79.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.