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MIRA INFORM REPORT
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Report No. : |
494462 |
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Report Date : |
28.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
UNIRAY MEDICAL LLP |
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Registered
Office : |
4, Floor 1st, Plot 102, Yashwant Sadan, Dr. M.B. Raut Marg, Shivaji Park, Dadar (West), Mumbai – 400028, Maharashtra |
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Mobile No.: |
91-7045301109 [Madam Nisha] |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Establishment
: |
04.07.2014 |
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Capital
Investment : |
INR 10.000 Million |
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LLPIN : |
AAC-4300 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AADFU9880H1ZL |
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TIN No.: |
27515287186 |
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GSTIN/UIN: |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADFU9880H |
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Legal Form : |
Limited Liability Partnership |
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Line of Business
: |
Manufacture of medical, precision and optical instruments, watches and clocks. [Registered Activity] |
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No. of Employees
: |
Information denied by the management
|
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 |
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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 Limited Liability Partnership firm established on 4th
July 2014. It is a manufacture of medical, precision and optical instruments,
watches and clocks. As per the financial records of 2017, the subject has achieved 13.74%
growth in its revenue and has reported an average profitability margin of
3.37%. Rating takes into consideration the subject’s healthy capital base and
fair liquidity position. However, rating is considered on account of negative reserve base. Business is active. Payment seems to be slow but correct. In view of aforesaid, the subject can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 28.02.2018.
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 : |
Madam Nisha |
|
Designation : |
Not Divulged |
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Contact No.: |
91-7045301109 |
|
Date : |
26.02.2018 |
Tel No.: [91-22-67900751] – Continuously ringing.
LOCATIONS
|
Registered Office : |
4, Floor 1st, Plot 102, Yashwant Sadan, Dr. M.B. Raut Marg, Shivaji Park, Dadar (West), Mumbai – 400028, Maharashtra, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-7045301109 [Madam Nisha] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory: |
C 97, TTC Industrial Area, Turbhe, Turbhe Mahape Road Navi Mumbai - 400705, Maharashtra, India |
PARTNERS
|
Name : |
Mr. Shivram Venkatachalam Iyer |
|
Designation : |
Designated Partner |
|
Address : |
A/8, Kumkum Apartment 161, S.V. Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Appointment : |
12.08.2017 |
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DPIN No.: |
00226085 |
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|
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Name : |
Mr. Mohan Atmaram Gore |
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Designation : |
Designated Partner |
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Address : |
102, Anandi, Dr.M.B.Raut Road, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India |
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Date of Appointment : |
04.07.2014 |
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DPIN No.: |
00350175 |
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|
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Name : |
Mr. Bhat Guruprasad |
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Designation : |
Designated Partner |
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Address : |
K 702, Hawares Splendor, Corporate Housing Society Limited, Plot - 52/56, Sec - 20, Kharghar, Navi Mumbai – 410210, Maharashtra, India |
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Date of Appointment : |
12.08.2017 |
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DPIN No.: |
07933078 |
CONTRIBUTION DETAILS
As On 31.03.2017
|
Names of Persons |
INR in Million |
|
Minoti Aniket Gore |
0.010 |
|
Nikhil Mohan Gore |
0.010 |
|
Mohan Atmaram Gore |
0.080 |
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Total |
0.100 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of medical, precision and optical instruments, watches and
clocks. [Registered Activity] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management
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Bankers : |
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Auditors : |
Not Available |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
Not Available |
CONTRIBUTION
As On 31.03.2017
|
Total Obligation of contribution |
INR 10.000 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
1] Contribution received |
10.000 |
0.050 |
0.050 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
(2.490) |
(6.333) |
(5.817) |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
7.510 |
(6.283) |
(5.767) |
|
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LOAN FUNDS |
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
62.126 |
65.017 |
0.000 |
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TOTAL
BORROWING |
62.126 |
65.017 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
69.636 |
58.734 |
(5.767) |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
43.271 |
11.816 |
8.980 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
19.223 |
25.319 |
14.424 |
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Sundry Debtors |
14.088 |
12.983 |
6.802 |
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Cash & Bank Balances |
11.868 |
8.055 |
4.725 |
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Other Current Assets |
10.570 |
18.413 |
5.119 |
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Loans & Advances |
2.661 |
2.425 |
3.730 |
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Total Current Assets |
58.410 |
67.195 |
34.800 |
|
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditors |
11.198 |
18.136 |
3.133 |
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Other Current Liabilities |
20.709 |
1.553 |
45.359 |
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Provisions |
0.138 |
0.588 |
1.055 |
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Total Current Liabilities |
32.045 |
20.277 |
49.547 |
|
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Net Current
Assets |
26.365 |
46.918 |
(14.747) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
69.636 |
58.734 |
(5.767) |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
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Income |
113.923 |
100.164 |
14.371 |
|
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Other Income |
1.192 |
2.602 |
0.188 |
|
|
TOTAL |
115.115 |
102.766 |
14.559 |
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|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
64.347 |
59.363 |
24.580 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
1.979 |
|
|
Increase/(decrease) in stocks [including for raw materials, work in progress and finished goods |
(2.214) |
1.368 |
(14.424) |
|
|
Employees benefits
expense |
0.000 |
0.000 |
0.000 |
|
|
Other expenses |
36.060 |
36.007 |
5.724 |
|
|
TOTAL |
98.193 |
96.738 |
17.859 |
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PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
16.922 |
6.028 |
(3.300) |
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|
|
|
|
|
Less |
INTEREST |
8.250 |
4.728 |
1.001 |
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|
|
|
|
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|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
8.672 |
1.300 |
(4.301) |
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|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4.829 |
1.816 |
1.516 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
3.843 |
(0.516) |
(5.817) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
3.843 |
(0.516) |
(5.817) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
38.02 |
29.35 |
120.01 |
|
|
|
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|
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Account Receivables Turnover (Income / Sundry Debtors) |
9.60 |
12.44 |
3.04 |
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|
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Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
63.52 |
111.51 |
43.06 |
|
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Inventory Turnover (Operating Income / Inventories) |
1.20 |
0.46 |
(0.49) |
|
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|
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|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.39 |
0.51 |
(0.37) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.93 |
1.08 |
1.13 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
8.27 |
(10.35) |
0.00 |
|
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|
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|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
12.54 |
(13.58) |
(8.59) |
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Fixed Assets to Networth (Net Fixed Assets / Networth) |
5.76 |
(1.88) |
(1.56) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.05 |
1.27 |
(3.30) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.37 |
(0.52) |
(40.48) |
|
|
|
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|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.78 |
(0.65) |
(13.29) |
|
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|
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|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
51.17 |
8.21 |
100.87 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.62 |
0.79 |
0.70 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.47 |
0.64 |
0.57 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.07 |
(0.08) |
(0.13) |
|
|
|
|
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|
G-Score Ratio Debt (Debts / Equity Capital) |
6.21 |
1300.34 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.62 |
0.79 |
0.70 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.050 |
0.050 |
10.000 |
|
Reserves & Surplus |
(5.817) |
(6.333) |
(2.490) |
|
Net
worth |
(5.767) |
(6.283) |
7.510 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
65.017 |
62.126 |
|
Total
borrowings |
0.000 |
65.017 |
62.126 |
|
Debt/Equity
ratio |
0.000 |
(10.348) |
8.272 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
14.371 |
100.164 |
113.923 |
|
|
|
596.987 |
13.736 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
14.371 |
100.164 |
113.923 |
|
Profit/ (Loss) |
(5.817) |
(0.516) |
3.843 |
|
|
(40.48%) |
(0.52%) |
3.37% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
M05887211 |
100144681 |
ORIENTAL BANK OF COMMERCE |
03/11/2017 |
- |
- |
40000000.0 |
VASHI SECTOR 28 BRANCH, PLOT NO. 1C, NISHANT MILLENNIUM, SECTOR 28,VASHI NAVI MUMBAI THANE – 400705, MAHARASHTRA, INDIA |
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 64.85 |
|
|
1 |
INR 79.97 |
|
Euro |
1 |
INR 90.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
GEET |
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.