MIRA INFORM REPORT

 

 

Report No. :

496707

Report Date :

12.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ARIHANT ELECTRICALS

 

 

Registered Office :

24/4866, Harbans Singh Street, Ansari Road, Darya Ganj, New Delhi – 110 002

Mobile No.:

91-11-47637300

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Establishment :

12.04.1986

 

 

Capital Investment :

INR 189.339

 

 

IEC No.:

0588047457

 

 

TIN No.:

Not Divulged

 

 

GST No.:

07AAAFA2753N1ZF

 

 

PAN No.:

[Permanent Account No.]

AAAFA2753N

 

 

Legal Form :

Partnership Concern with an Unlimited Liability of the Partners

 

 

Line of Business :

Trader, Importer and Dealer of Electronic Components and Devices. (Confirmed by management)

 

 

No. of Employees :

70 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Arihant Electricals is a trader, importer and dealer of electronic components and devices. The concern was started in the year 1986 and is based in New Delhi, India. It is an established partnership concern having satisfactory track record.


For the financial year ended 2017, the concern has witnessed a growth in its revenue and has achieved fair profit margin at 2.33% (approx.)


Rating takes into consideration concern’s long established track record of business operation along with healthy capital base and fair debt level.


Trade relations are reported as fair. Business is active. Payment terms are seems to be usually correct and as per commitments.


In view of aforesaid, the concern 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.

 

 

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 12.03.2018.

 

 

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. Govind

Designation :

Accounts Manager

Contact No.:

91-11-47637300

Date :

09.03.2018

 

 

LOCATIONS

 

Registered Office / Warehouse  :

24/4866, Harbans Singh Street, Ansari Road, Darya Ganj, New Delhi – 110 002, India

Tel. No.:

91-11-23262176/ 23269011/ 23274427 / 47637300

Mobile No.:

91-9810881305 (Mr. Govind)

Fax No.:

91-11-23273554 / 23256918

E-Mail :

arihant@del2.vsnl.net.in

ajain@arihantelectricals.com

info@arihantelectricals.com

govind.kumar@arihantelectricals.com

Website :

http://www.arihantelectricals.com

Area :

1200 sq. ft.

Location :

Owned

Locality:

Commercial

 

 

Corporate Office :

A-82, Okhla Industrial Area, Phase – ll, New Delhi – 110020, India

 

 

Representative Office :

Located at:

 

  • Delhi
  • Mumbai
  • Kolkata
  • Bangalore
  • Kanpur
  • Hyderabad
  • Baroda
  • Chennai
  • Pune

 

 

Branch Offices :

Located at:

 

·         Vadodara

·         Bangalore

·         Kolkata

·         Bhopal

·         Lucknow

·         Bhubaneshwar

·         Mumbai

·         Pune

·         Hyderabad

·         Coimbatore

·         Jamshedpur

·         Ludhiana

·         Visakhapatnam

·         Chennai

 

 

PARTNERS

 

Name :

Mr. Amit Jain

Designation :

Managing Partner

Address:

U-23, Green Park Extension, New Delhi – 110 016, India

Qualification:

Graduate

PAN No.:

AAFPJ9609M

 

 

Name :

Mrs. Binu Jain

Designation :

Partner

Address:

U-23, Green Park Extension, New Delhi – 110 016, India

Qualification:

Graduate

 

 

KEY EXECUTIVES

 

Name :

Mr. Govind

Designation :

Accounts Manager

 

 

BUSINESS DETAILS

 

Line of Business :

Trader, Importer and Dealer of Electronic Components and Devices. (Confirmed by management)

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Italy

·         Taiwan

·         France

·         Germany

·         Singapore

·         China

 

 

Terms :

 

Selling :

Cash, Advance Payment, Cheque and Credit [30 Days]

 

 

Purchasing :

Cash, Advance Payment, Cheque and Credit [30 Days]

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

Customers :

Wholesalers, Retailers and End Users

 

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

No. of Employees :

70 [Approximately]

 

 

Bankers :

 

Bank Name:

HDFC Bank Limited

Branch:

Ansari Road Branch, New Delhi, India

Person Name (with Designation):

--

Contact Number:

91-11-61606101

Name of Account Holder:

--

Account Number:

--

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

Credit Facilities Enjoyed (CC/OD/Term Loan):

--

Account Operation:

Cash Credit = INR 200.000 Million

BG = INR 55.000 Million

(Not confirmed from bank)

Remarks:

Number is ringing

 

 

 

Auditors :

 

Name :

M.S.A and Associates

Chartered Accountants

Address :

Connaught Place, New Delhi, India

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister concern :

Arihant Elsys Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Capital Investment :

 

Owned :

INR 189.339 Million

Borrowed :

--

Total :

INR 189.339 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

 

 

 

1] Capital Account

189.339

174.645

167.079

2] Reserves & Surplus

0.000

0.000

0.000

NETWORTH

189.339

174.645

167.079

LOAN FUNDS

 

 

 

1] Secured Loans

214.959

210.070

241.107

2] Unsecured Loans

61.436

63.332

60.372

TOTAL BORROWING

276.395

273.402

301.479

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

465.734

448.047

468.558

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

7.434

8.367

9.542

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.800

1.949

1.500

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
239.747
226.966
212.415

 

Sundry Debtors
329.666
268.361
325.503

 

Cash & Bank Balances
6.652
4.909
4.190

 

Other Current Assets
0.000
0.000

0.000

 

Loans & Advances
26.473
33.657
17.158

Total Current Assets
602.538
533.893
559.266

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors
 

 

Other Current Liabilities
 
 

 

 

Provisions
 
 
 

Total Current Liabilities
145.038
96.162
101.750

Net Current Assets
457.500
437.731
457.516

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

465.734

448.047

468.558

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

856.087

790.280

738.585

 

Other Income

0.000

0.000

0.000

 

TOTAL

856.087

790.280

738.585

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Goods Sold

731.484

669.064

631.574

 

Audit Fees

0.144

0.115

0.114

 

Business Promotion

3.288

4.145

2.352

 

Bill Discounting Charges

1.088

0.000

0.000

 

Conveyance  and Travelling 

7.390

7.650

7.104

 

Electricity and Water Expenses

1.592

1.422

1.336

 

Exhibition and Seminar Expenses

0.099

0.328

0.132

 

Freight Cartage and Octroi

3.118

3.134

4.449

 

Insurance

1.281

1.389

1.079

 

Professional Charges

1.369

1.401

1.380

 

Establishment Expenses

33.756

30.116

27.804

 

EPF interest

0.075

0.000

0.000

 

EPF penalty

0.145

0.000

0.000

 

Miscellaneous Expenses

0.316

0.503

1.450

 

Postage and Courier

0.060

0.054

0.057

 

Printing and Stationery

0.433

0.495

0.426

 

Rate Fees and Taxes

0.729

0.678

0.568

 

Sale Tax Penalty

0.047

0.000

0.000

 

Rent

2.875

2.716

2.751

 

Repair and Maintenance

0.879

0.738

1.484

 

Salary to Partner

6.000

6.000

3.000

 

Staff Welfare

0.102

0.208

0.459

 

Security and House Keeping Expenses

1.252

0.880

0.875

 

Expenses on Sale

4.869

7.383

3.021

 

Telephone and Internet Charges

1.719

2.124

1.486

 

Car Expenses

0.193

0.112

0.000

 

Diwali Expenses

0.115

0.116

0.000

 

Office Maintenance

0.482

0.303

0.000

 

TOTAL

804.900

741.074

692.901

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, DEPRECIATION AND AMORTISATION 

51.187

49.206

45.684

 

 

 

 

 

Less

FINANCIAL EXPENSES

29.790

28.991

29.079

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION

21.397

20.215

16.605

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

1.423

1.683

1.309

 

 

 

 

 

 

NET PROFIT FOR THE YEAR

19.974

18.532

15.296

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

140.56

123.95

160.86

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

2.60

2.94

2.27

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

0.00

0.00

0.00

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.21

0.22

0.22

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

6.89

5.88

4.79

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.69

0.68

0.71

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.46

1.57

1.80

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.09

0.91

0.97

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.04

0.05

0.06

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.72

1.70

1.57

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

2.33

2.34

2.07

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

3.27

3.41

2.68

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

10.55

10.61

9.15

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

2.92

3.35

3.45

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.76

1.92

2.14

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.31

0.32

0.29

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

1.46

1.57

1.80

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.92

3.35

3.45

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

Capital Account

167.079

174.645

189.339

Reserves & Surplus

0.000

0.000

0.000

Net worth

167.079

174.645

189.339

 

 

 

 

Secured Loans

241.107

210.070

214.959

Unsecured Loans

60.372

63.332

61.436

Total borrowings

301.479

273.402

276.395

Debt/Equity ratio

1.804

1.565

1.460

 

 

 

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

738.585

790.280

856.087

 

 

6.999

8.327

 

 

 

 

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

738.585

790.280

856.087

Profit

15.296

18.532

19.974

 

2.07%

2.34%

2.33%

 

 

 

 

 

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

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

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, India Prisons Service, Interpol, etc.

 

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 65.08

UK Pound

1

INR 89.85

Euro

1

INR 80.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ARC

 

 

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

YES

--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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.