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MIRA INFORM REPORT
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Report No. : |
498399 |
|
Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MI GROUP PRIVATE LIMITED |
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|
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Registered
Office : |
29, LGF, World Trade Center, Babar Lane Connaught Place, New
Delhi - 110001 |
|
Mobile No.: |
91-9818334444 (Mr. Rajesh Sarat) |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
29.04.2016 |
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Com. Reg. No.: |
55- 298726 |
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Capital Investment
/ Paid-up Capital : |
INR 0.100 Million |
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CIN No.: [Company Identification
No.] |
U74999DL2016PTC298726 |
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|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAKCM3544N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealing in providing clearing and forwarding services. [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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
USD 2000 |
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|
Status : |
Relatively new business |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated during April 2016 and it is engaged in
business of clearing and forwarding services. As per financials of March 2017, the company has commenced its
operation and has reported minimal profile margin. Rating takes into consideration the company’s limited track record of
business operations along with moderate net worth base and unfavourable gap
between its trade payables to its trade receivables. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
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 17.03.2018
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 DENIED BY
|
Name : |
Mr. Rajesh Sarat |
|
Designation : |
Director |
|
Contact No.: |
91-9818334444 |
|
Date : |
16.03.2018 |
LOCATIONS
|
Registered Office : |
29, LGF, World Trade Center, Babar Lane Connaught Place,
New Delhi – 110001, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9818334444 (Mr. Rajesh Sarat) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Head Office: |
509, World Trade Centre, Babar Road, Connaught Place, New Delhi
-110001, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Neeraj Makhija |
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|
Designation : |
Managing Director |
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Address : |
13/61 New Rajnagar, Ghaziabad – 201001, Uttar Pradesh,
India |
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Date of Birth/Age : |
20.08.1971 |
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Date of Appointment : |
29.04.2016 |
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DIN No.: |
01577546 |
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Other Directorship:
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Name : |
Mr. Rajesh Sarat |
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|
Designation : |
Director |
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Address : |
13/61 New Rajnagar, Ghaziabad – 201001, Uttar Pradesh,
India |
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Date of Birth/Age : |
24.03.1963 |
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Date of Appointment : |
29.04.2016 |
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DIN No.: |
01577541 |
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Other Directorship:
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Neeraj Makhija |
9900 |
99.00 |
|
Rajesh Sarat |
100 |
1.00 |
|
Total |
10000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealing in providing clearing and forwarding services. [Registered Activity] |
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Products / Services
: |
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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 |
PRODUCTION STATUS – (NOT AVAILABLE)
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 : |
|
|
Name : |
Hari Ram Agarwala and Associates Chartered Accountants |
|
Address : |
204-A Hans Bhawan, B S Zafar
Marg, ITO New Delhi – 110002, India |
|
Tel. No.: |
91-11-23379326 |
|
Mobile No.: |
91-9811027404 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADPA2757P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Enterprises over which KMP or relatives of KMP have significant
influence: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
29.04.2016 to 31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.100 |
|
(b) Reserves &
Surplus |
|
|
0.599 |
|
(c) Money received
against share warrants |
|
|
0.000 |
|
|
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|
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|
(2) Share Application
money pending allotment |
|
|
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
|
0.699 |
|
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|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.519 |
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(b) Deferred tax
liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
0.519 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
41.318 |
|
(c) Other current
liabilities |
|
|
0.950 |
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(d) Short-term provisions |
|
|
0.000 |
|
Total Current Liabilities
(4) |
|
|
42.268 |
|
|
|
|
|
|
TOTAL |
|
|
43.486 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
0.682 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets
under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
0.021 |
|
(d) Long-term Loan and Advances |
|
|
0.400 |
|
(e) Other Non-current
assets |
|
|
0.000 |
|
Total Non-Current Assets |
|
|
1.103 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
38.690 |
|
(d) Cash and cash
equivalents |
|
|
2.792 |
|
(e) Short-term loans and
advances |
|
|
0.901 |
|
(f) Other current assets |
|
|
0.000 |
|
Total Current Assets |
|
|
42.383 |
|
|
|
|
|
|
TOTAL |
|
|
43.486 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
29.04.2016 to 31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
117.499 |
|
|
Other Income |
|
|
0.000 |
|
|
TOTAL |
|
|
117.499 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Services |
|
|
107.194 |
|
|
Employees benefits
expense |
|
|
7.184 |
|
|
Other expenses |
|
|
2.258 |
|
|
TOTAL |
|
|
116.636 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
0.863 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.073 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
0.790 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.191 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
|
0.599 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
59.94 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
29.04.2016 to 31.03.2017 |
|
Current Maturities of Long term debt |
|
|
NA |
|
Cash generated from operations |
|
|
NA |
|
Net cash flows from (used in) operations |
|
|
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
29.04.2016 to 31.03.2017 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
|
120.19 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
3.04 |
|
|
|
|
|
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Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
140.69 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
29.04.2016 to 31.03.2017 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
0.98 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
0.74 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
60.47 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.98 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
29.04.2016 to 31.03.2017 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
|
0.51 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
1.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
85.69 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
29.04.2016 to 31.03.2017 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
|
1.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
1.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.02 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
5.19 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
1.00 |
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 |
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 |
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 |
No |
|
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 about one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about one year |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
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: No Charges Exists for Company
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
|
As
on 31.03.2017 |
|
LONG TERM
BORROWING |
|
|
|
From related party |
|
0.519 |
|
Total |
|
0.519 |
|
Note: Term and conditions of the loan Term loans represents borrowings from Neeraj Makhija, director of the company amounting to INR 0.520 million carry interest at the rate nil and is repayable on demand. |
||
FIXED ASSETS:
- Office Equipment’s
- Furniture and Fixture
- Computer and Software
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 64.87 |
|
|
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KVT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.