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|
|
MIRA INFORM REPORT
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Report No. : |
499588 |
|
Report Date : |
22.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
VOLITION TRADING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
532, Arun Chambers, Next to A.C. Market, Tardeo Main Road,
Mumbai-400034, Maharashtra |
|
Tel. No.: |
91-22-23522462 |
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|
|
|
Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
24.02.1994 |
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|
|
|
Com. Reg. No.: |
11-076780 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 12.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1994PTC076780 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable (As informed by the management that firm
does not have export and import) |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACV5060E1ZJ |
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TIN No: |
27250168930 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAACV5060E |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader, dealer and supplier of Iron and Steel such as ferrous and non-ferrous metal, Aluminium, Fabrics, Nickel, Steel coils, channel, steel rods, steel angels, aluminium coils, foils, channel etc. (Registered Activity and also Confirmed by management) |
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|
|
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No. of Employees
: |
15 (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 : |
Volition Trading Private Limited was incorporated in the year 1994. It is a trader in Iron and Steel such as Ferrous and Non- Ferrous Metal, Steel Coils, Steel Rods, Steel Angels and Foils. For the financial year 2017, the company has reported decline in its revenue as compared to previous year but has managed to maintain low profit margin of 0.08%. The satisfactory financial profile of the company is marked by comfortable networth base along with average debt coverage indicators. The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. Furthermore, we have received satisfactory feedback regarding the business transactions from its Supplier (PEL Industries Limited). Customer (EMC Limited) also gave positive feedback and claimed that they are satisfied with subject’s product quality and delivery. Banker (Nagpur Nagrik Sahakari Bank Limited) has also given positive feedback and is satisfied with company’s banking transaction. However, these rating strengths are partially offset by highly competitive steel industry. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company 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
|
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 22.03.2018
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. Jayesh Shah |
|
Designation : |
General Manager |
|
Contact No.: |
91-9820135441 |
|
Date : |
22.03.2018 |
LOCATIONS
|
Registered Office : |
532, Arun Chambers, Next to A.C. Market, Tardeo Main Road,
Mumbai-400034, Maharashtra, India |
|
Tel. No.: |
91-22-23522462 |
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Mobile No.: |
91-9820135441 (Mr. Jayesh Shah) |
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Fax No.: |
91-22-23522462 |
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E-Mail : |
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Website: |
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|
Area : |
500 Sq. ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
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|
|
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Branch Office : |
3/18, A.C. Market, Tardeo Main Road, Mumbai-400034, Maharashtra, India |
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Area : |
300 Sq. ft. |
|
Location : |
Rented |
|
Locality : |
Commercial |
|
|
|
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Warehouse : |
Bhiwandi Mumbai Central Stock Yard, Bhiwandi Wada, Bhiwandi, Thane –
421303, Maharashtra, India |
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Location : |
Rented |
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Locality : |
Industrial |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Harakhchand Nagindas Shah |
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Designation : |
Director |
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Address : |
61 Gokul, 99, Walkeshwar Road, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
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Date of Birth/Age : |
08.12.1941 |
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Qualification : |
SSC |
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Date of Appointment : |
24.02.1994 |
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PAN No.: |
AAGPS6420G |
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DIN No.: |
00003369 |
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Other Directorship:
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Name : |
Mrs. Saloni Jayesh Shah |
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Designation : |
Additional Director |
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Address : |
504, Hira Panna Tower, Behind Alkapuri Arcade, R. C. Dutt Road,
Vadodara-390007 |
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Date of Birth/Age : |
08.01.1992 |
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Qualification : |
Graduate |
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Date of Appointment : |
28.04.2016 |
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DIN No.: |
07503760 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Jayesh Shah |
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Designation : |
General Manager |
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|
|
|
Name : |
Vijay S. Tiwari and Associates |
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Designation : |
Practicing Company Secretaries |
MAJOR SHAREHOLDERS
As on 29.09.2017
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Harakhchand Nagindas Shah |
1130000 |
90.40 |
|
Gunvanti Harakhchand Shah |
30000 |
2.40 |
|
Jayesh Harakhchand Shah |
30000 |
2.40 |
|
Hiren Harakhchand Shah |
30000 |
2.40 |
|
Hitesh Harakhchand Shah |
30000 |
2.40 |
|
Total |
1250000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, dealer and supplier of Iron and Steel such as ferrous and non-ferrous metal, Aluminium, Fabrics, Nickel, Steel coils, channel, steel rods, steel angels, aluminium coils, foils, channel etc. (Registered Activity and also Confirmed by management) |
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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 Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
RTGS |
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Purchasing : |
RTGS |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
R. J. Kothari and Associates Chartered Accountants |
|
Address : |
35- Kesar Building, 201- Princess Street, Mumbai-400002, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AGBPK9803E |
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Memberships No: |
031012 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
INR 10/- each |
INR 12.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
INR 10/- each |
INR 12.500
Million |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
12.500 |
12.500 |
12.500 |
|
(b) Reserves and Surplus |
41.843 |
37.668 |
32.408 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
43.303 |
43.303 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
97.646 |
93.471 |
44.908 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
108.731 |
88.963 |
0.858 |
|
(b) Deferred tax liabilities (Net) |
0.030 |
0.030 |
0.014 |
|
(c) Other long-term
liabilities |
20.054 |
49.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
128.815 |
137.993 |
0.872 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
65.178 |
|
(b) Trade
payables |
479.071 |
77.091 |
243.749 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
127.303 |
|
(d) Short-term
provisions |
1.049 |
0.670 |
0.337 |
|
Total Current
Liabilities (4) |
480.120 |
77.761 |
436.567 |
|
|
|
|
|
|
TOTAL |
706.581 |
309.225 |
482.347 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1.318 |
1.293 |
1.212 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.531 |
2.531 |
4.064 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3.849 |
3.824 |
5.276 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
2.564 |
|
(c) Trade
receivables |
702.429 |
305.053 |
465.671 |
|
(d) Cash and
bank balances |
0.011 |
0.048 |
0.326 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.292 |
0.300 |
8.510 |
|
Total
Current Assets |
702.732 |
305.401 |
477.071 |
|
|
|
|
|
|
TOTAL |
706.581 |
309.225 |
482.347 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4919.338 |
5996.669 |
6534.508 |
|
|
Other Income |
0.023 |
0.085 |
1.046 |
|
|
TOTAL |
4919.361 |
5996.754 |
6535.554 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4885.853 |
5971.921 |
0.000 |
|
|
Purchases of stock-in-trade |
0.000 |
0.000 |
6505.311 |
|
|
Employee benefit expense |
2.775 |
3.452 |
3.285 |
|
|
Other expenses |
14.151 |
1.565 |
9.451 |
|
|
TOTAL |
4902.779 |
5976.938 |
6518.047 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION,
DEPLETION AND AMORTISATION EXPENSE |
16.582 |
19.816 |
17.507 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
10.235 |
11.759 |
9.511 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION, DEPLETION AND AMORTISATION
EXPENSE |
6.347 |
8.057 |
7.996 |
|
|
|
|
|
|
|
Less |
DEPRECIATION, DEPLETION AND AMORTISATION EXPENSE |
0.171 |
0.262 |
0.050 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
6.176 |
7.795 |
7.946 |
|
|
|
|
|
|
|
Less |
TAX |
2.001 |
2.454 |
2.410 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
4.175 |
5.340 |
5.536 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.34 |
4.27 |
4.43 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(17.778) |
(65.505) |
(37.916) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(19.779) |
(67.959) |
(40.327) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
52.12 |
18.57 |
26.01 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
7.00 |
19.66 |
14.03 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors / Purchases * 365] |
|
35.79 |
4.71 |
13.68 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income / Inventories] |
|
0.00 |
0.00 |
6.83 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed Assets] |
|
12.58 |
15.33 |
14.45 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.83 |
0.54 |
0.91 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
1.11 |
0.95 |
1.47 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / NetWorth) |
|
4.92 |
0.83 |
9.72 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets / NetWorth) |
|
0.01 |
0.01 |
0.03 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial Charges] |
|
1.62 |
1.69 |
1.84 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
0.08 |
0.09 |
0.08 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets) * 100] |
(%) |
0.59 |
1.73 |
1.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth) * 100] |
(%) |
4.28 |
5.71 |
12.33 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.46 |
3.93 |
1.09 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) / Current
Liabilities] |
|
1.46 |
3.93 |
1.09 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total Assets] |
|
0.14 |
0.30 |
0.09 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
8.70 |
7.12 |
5.28 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets / Total Current
Liabilities] |
|
1.46 |
3.93 |
1.09 |
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 |
12.500 |
12.500 |
12.500 |
|
Reserves & Surplus |
32.408 |
37.668 |
41.843 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
43.303 |
43.303 |
|
Net
worth |
44.908 |
93.471 |
97.646 |
|
|
|
|
|
|
Long-term borrowings |
0.858 |
88.963 |
108.731 |
|
Short term borrowings |
65.178 |
0.000 |
0.000 |
|
Total
borrowings |
66.036 |
88.963 |
108.731 |
|
Debt/Equity
ratio |
1.470 |
0.952 |
1.114 |
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 |
6534.508 |
5996.669 |
4919.338 |
|
|
|
(8.231) |
(17.965) |
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 |
6534.508 |
5996.669 |
4919.338 |
|
Profit/ (Loss) |
5.536 |
5.341 |
4.175 |
|
|
0.08
% |
0.09
% |
0.08
% |
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 |
Yes |
|
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 |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
Yes |
|
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
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C81190407 |
10421638 |
Nagpur Nagarik Sahakari Bank Limited |
13/03/2013 |
11/02/2016 |
- |
110000000.0 |
Dadar Branch, Gyansagar Building, 1st Floor, S. K. Bhole Road, Dadar (West), Mumbai - 400028, Maharashtra, India |
FIXED ASSETS
Tangible assets
- Vehicles
- Office equipment
- Computer equipments
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 65.22 |
|
|
1 |
INR 91.33 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
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.