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MIRA INFORM REPORT
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Report No. : |
495842 |
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Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
RANK INTERNATIONAL |
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|
|
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Registered
Office : |
A-34, Nandjyot Industrial Estate, Safedphool, Andheri Kurla Road, Andheri
(East), Mumbai – 400072, Maharashtra |
|
Tel. No.: |
91-22-42442500 |
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Country : |
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Financials (as
on) : |
31.03.2017 [Turnover Figure] 31.03.2014 [Consolidated Detailed Financial] |
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Year of
Establishment : |
14.09.1994 |
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Capital
Investment / Paid-up Capital : |
INR 75.168 Million [As On 31.03.2014] |
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IEC No.: [Import-Export Code No.] |
0394056761 |
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|
GSTN : [Goods & Service Tax
Registration No.] |
27AAAFR5758G1Z0 |
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TIN No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAAFR5758G |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business
: |
Manufacturer and Exporter of Findings and Chains, Master Alloys,
etc.[Confirmed by
management] |
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|
|
|
No. of Employees
: |
85 (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 partnership firm established in the year 1994. It is a manufacturer, exporter of finding and chains, master alloys,
etc. Mr. Deepak Maheshwari (Chief Executive Officer) has claimed that the
subject achieved revenue of INR 920.000 million for the FY 2016 and INR
910.000 million for the FY 2017. Rating takes into account the subject’s long established track record
of business operations along with extensive experience of its promoters. Payment seems to be slow but correct. In view of aforesaid, the firm 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
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 06.03.2018.
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. Deepak Maheshwari |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9322641655 |
|
Date : |
04.03.2018 |
LOCATIONS
|
Registered Office : |
A-34, Nandjyot Industrial Estate, Safedphool, Andheri Kurla Road,
Andheri (East), Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-42442500 |
|
Mobile No.: |
91-9322641655 (Mr. Deepak Maheshwari) |
|
Fax No.: |
91-22-42442599 |
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E-Mail : |
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|
Website : |
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|
|
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Factory / Branch Office 1: |
G 44, Gems and Jewellery Complex- I, SEEPZ, Andheri
(East), Mumbai - 400096, Maharashtra, India |
|
Tel. No.: |
91-22-42442500 |
|
Mobile No.: |
91-9322641655 (Mr. Deepak Maheshwari) |
|
Fax No.: |
91-22-42442599 |
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E-Mail : |
|
|
Area : |
350 Sq. Ft |
|
Location : |
Leased |
|
|
|
|
Branch Office 2: |
314, 3rd Floor, 2/90/62, Shriji Mall, Naiwala Gurudwara Road,
Karol Bagh, Delhi-110005, India |
PARTNERS
|
Name : |
Mr. Rishabh Ruia |
|
Designation : |
Partner |
|
Address : |
A-606, Simla House, Napeansea Road, Mumbai – 400036, Maharashtra, India |
|
|
|
|
Name : |
Mr. Mohit kedia |
|
Designation : |
Partner |
|
Address : |
A-606, Simla House, Napeansea Road, Mumbai – 400036, Maharashtra, India |
|
|
|
|
Name : |
Mrs. Bharti Kedia |
|
Designation : |
Partner |
|
Date of Birth/Age : |
07.09.1954 |
|
Address : |
43, Ocean Crest CHSL, Bhulabhai Desai Road, Mumbai - 400036, Maharashtra,
India |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Maheshwari |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Findings and Chains, Master
Alloys, etc.[Confirmed by
management] |
|
|
|
|
Products/ Services : |
· Findings · Chains ·
Master Alloys |
|
|
|
|
Brand Names : |
Not Available |
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|
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|
Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished goods |
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Countries : |
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
· United States of America · Italy · Hong Kong · Thailand |
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Terms : |
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Selling : |
Cash, L/C and Credit [30/ 60 Days] |
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|
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Purchasing : |
Cash, L/C and Credit [30/ 60 Days] |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
85 (Approximately) |
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Bankers : |
|
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Auditors : |
|
|
Name : |
Banka and Banka Chartered Accountants |
|
Address : |
Malad (East), Mumbai - 400097,
Maharashtra, India |
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Membership No.: |
38800 |
|
|
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Collaborators : |
Not Available |
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|
|
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Membership : |
Not Available |
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Sister Concern : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 31.03.2014
|
Capital Investment : |
|
|
Owned : |
INR 75.168 Million |
|
Borrowed : |
-- |
|
Total : |
INR 75.168 Million |
FINANCIAL DATA
[all figures are
INR Million]
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Sales Turnover (Approximately) |
910.000 |
920.000 |
880.000 |
|
|
|
|
|
The above information has been parted by Mr. Deepak Maheshwari (Chief
Executive Officer).
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
|
31.03.2014 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
|
75.168 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
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4] (Accumulated Losses) |
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|
0.000 |
|
|
NETWORTH |
|
|
75.168 |
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LOAN FUNDS |
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|
|
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|
1] Secured Loans |
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|
|
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2] Unsecured Loans |
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|
|
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TOTAL
BORROWING |
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|
42.440 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
|
117.608 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
37.676 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.640 |
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|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
137.928 |
|
|
Sundry Debtors |
|
|
92.561 |
|
|
Cash & Bank Balances |
|
|
3.634 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans, Advances & Deposits |
|
|
23.718 |
|
Total Current Assets |
|
|
257.841 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
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|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total Current Liabilities |
|
|
178.549 |
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Net Current
Assets |
|
|
79.292 |
|
|
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|
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MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
|
117.608 |
|
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
|
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
806.088 |
|
|
Other Income |
|
|
0.950 |
|
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TOTAL |
|
|
807.038 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of goods sold |
|
|
722.023 |
|
|
Factory rent |
|
|
1.988 |
|
|
Wages |
|
|
6.695 |
|
|
Power and fuel |
|
|
2.782 |
|
|
Testing charges |
|
|
0.016 |
|
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Loading and unloading |
|
|
0.007 |
|
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Transport charges |
|
|
0.063 |
|
|
Factory expenses |
|
|
0.009 |
|
|
Repairs and maintenance |
|
|
0.364 |
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Labour charges |
|
|
0.327 |
|
|
Packaging materials |
|
|
0.276 |
|
|
Consumable and stores |
|
|
0.213 |
|
|
Assaying charges [import] |
|
|
0.001 |
|
|
Salary |
|
|
10.276 |
|
|
Telephone |
|
|
0.488 |
|
|
Electricity |
|
|
0.646 |
|
|
Printing and stationery |
|
|
0.560 |
|
|
Conveyance |
|
|
0.275 |
|
|
Travelling |
|
|
1.488 |
|
|
Water charges |
|
|
0.218 |
|
|
Security charges |
|
|
0.595 |
|
|
Postage and courier |
|
|
1.158 |
|
|
Society maintenance |
|
|
0.162 |
|
|
Office rent |
|
|
0.813 |
|
|
Office expenses |
|
|
0.273 |
|
|
Insurance |
|
|
1.106 |
|
|
Computer expenses |
|
|
0.016 |
|
|
Software expenses |
|
|
0.013 |
|
|
Repairs and maintenance |
|
|
0.471 |
|
|
Tea and tiffin |
|
|
0.043 |
|
|
Staff welfare |
|
|
0.407 |
|
|
Pooja expenses |
|
|
0.028 |
|
|
Books and periodicals |
|
|
0.001 |
|
|
Assaying charges |
|
|
0.097 |
|
|
Motor car expense |
|
|
0.141 |
|
|
Octroi |
|
|
0.000 |
|
|
License and registration |
|
|
0.020 |
|
|
Membership and
subscription |
|
|
0.011 |
|
|
Liasoning charges |
|
|
0.300 |
|
|
Advertisement |
|
|
0.062 |
|
|
Exhibition expenses |
|
|
0.858 |
|
|
Discount allowed |
|
|
0.092 |
|
|
Sales promotion expenses |
|
|
0.493 |
|
|
Commission |
|
|
1.235 |
|
|
Clearing and forwarding |
|
|
0.952 |
|
|
Fright charges |
|
|
0.043 |
|
|
Exchange rate difference |
|
|
2.557 |
|
|
Legal and professional
charges |
|
|
0.353 |
|
|
Consultancy charges |
|
|
0.902 |
|
|
Donation |
|
|
0.011 |
|
|
Sales tax |
|
|
0.019 |
|
|
Custom duty |
|
|
1.060 |
|
|
Auditors remuneration |
|
|
0.719 |
|
|
Interest on capital |
|
|
1.747 |
|
|
TOTAL |
|
|
765.473 |
|
|
|
|
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|
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|
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
41.565 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
5.640 |
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
35.925 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
6.129 |
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
29.796 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
|
|
41.91 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
|
8.71 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
|
0.30 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
1.10 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
0.56 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
2.38 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
0.50 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
7.37 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
|
|
3.70 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
10.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
39.64 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.45 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
|
0.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
0.56 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
1.45 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
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 Turnover (Approximately) |
880.000 |
920.000 |
910.000 |
|
|
|
4.545 |
(1.087) |
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 |
Yes |
|
9 |
Promoter’s background |
No |
|
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) |
Yes |
|
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 |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year |
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 |
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 65.05 |
|
|
1 |
INR 80.03 |
|
Euro |
1 |
INR 89.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
YES |
|
--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.