|
|
|
MIRA INFORM REPORT
|
Report No. : |
498827.3 |
|
Report Date : |
27.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
DHARA TECHNOSYSTEM LLP |
|
|
|
|
Registered
Office : |
11/92, Motilal Nagar No.1, Link Road, Near M. N. School, Motilal Nagar, Goregoan (West), Mumbai - 400104, Maharashtra |
|
Mobile No.: |
91-8879918682 [Mr. Rupesh Kokate] |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
19.01.2015 |
|
|
|
|
Capital Investment : |
INR 2.294 Million |
|
|
|
|
LLPIN No.: |
AAD-2225 |
|
|
|
|
IEC No.: |
0316964034 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALFD0256E |
|
|
|
|
GST No.: |
27AALFD0256E1ZO |
|
|
|
|
TIN No.: |
27041133759 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Trader of Electrical Parts and Components, Industrial Wires and
Cables, Organics and Inorganics Chemicals, Parts of Fire Panel, Switchgear
and also Importer of Spices and Rice. [Registered Activity and also Confirmed
by Management] |
|
|
|
|
No. of Employees
: |
04 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 6500 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Limited Liability Partnership firm established in January 2015 and it started its activity from the same month.
It is a trader of electrical parts and components, industrial wires and cables, organic and inorganic chemicals, part of fire panel and switchgear. It is also an importer of spices and rice. As per the financial records of 2017, the subject has achieved a massive growth in its revenue as compared to the previous year’s revenue and has reported a low net profit margin of 0.20%. The moderate financial position of the subject is marked by average net worth base along with high debt balance sheet profile. The subject’s customer (Orbit Electro Equipment Private Limited) has given positive feedback and is satisfied with the subject’s product quality and delivery behaviour. Suppliers (Eurotech Cylinders Private Limited and Nitin Fire and Protection Industries Limited) have also given positive feedback and are satisfied with the subject’s payment behaviour. Subject’s bank (ICICI Bank Limited) has given a positive feedback and is satisfied with the firm’s banking transaction. Payment seems to be slow. In view of aforesaid, the firm 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 27.03.2018
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. Rupesh Kokate |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-8879918682/ 9664407706 |
|
Date : |
21.03.2018 |
LOCATIONS
|
Registered Office : |
11/92, Motilal Nagar No.1, Link Road, Near M. N. School, Motilal Nagar, Goregoan (West), Mumbai - 400104, Maharashtra, India |
|
Tel. No.: |
91-22-28710544/ 28506677 |
|
Mobile No.: |
91-8879918682/ 9664407706 [Mr. Rupesh
Kokate] |
|
Fax No.: |
91-22-28506677 |
|
E-Mail : |
|
|
Area : |
700 Sq. Ft. |
|
Location : |
Rented |
|
Locality: |
Commercial |
|
|
|
|
Warehouse: |
Chawl No. 12, C Block, Sector 4, Airoli, Navi Mumbai-400104,
Maharashtra, India |
|
Area : |
2500 Sq. Ft. |
|
Location : |
Rented |
|
Locality: |
Commercial |
PARTNERS
|
Name : |
Mr. Palak Bipin Shah |
|
Designation : |
Designated Partner |
|
Address : |
Flat No. 301,Gada Residency, JVPD Scheme, Vile Parle (West), Mumbai-400056, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1992 |
|
Qualification : |
CA |
|
Date of Appointment : |
29.03.2017 |
|
DPIN No.: |
03392059 |
|
|
|
|
Name : |
Ms. Bhavika Siddharth Shah |
|
Designation : |
Designated Partner |
|
Address : |
5, Kalyani Building, N.S., 4th Road, JVPD Scheme, Vile Parle (West), Mumbai -400056, Maharashtra, India |
|
Date of Birth/Age : |
02.09.1979 |
|
Qualification : |
B. Com |
|
Experience : |
4 Years |
|
Date of Appointment : |
19.09.2015 |
|
DPIN No.: |
05183297 |
KEY EXECUTIVES
|
Name : |
Mr. Rupesh Kokate |
|
Designation : |
Accounts Manager |
CONTRIBUTION DETAILS
|
Names of Persons |
Monetary value of
contribution (INR In Million) |
|
Bhavika Siddharth Shah |
0.025 |
|
Ruchita Bipin Shah |
0.025 |
|
|
|
|
Total |
0.050 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Electrical Parts and Components, Industrial Wires and Cables,
Organics and Inorganics Chemicals, Parts of Fire Panel, Switchgear and also
Importer of Spices and Rice. [Registered Activity and also Confirmed by
Management] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
Spices and Rice |
|
Countries : |
Sri Lanka |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit [30, 60 and 90 Days] |
|
|
|
|
Purchasing : |
L/C and Credit [30, 60 and 90 Days] |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||||||
|
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|
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Customers : |
Others (Corporate)
|
||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
04 [Approximately] |
||||||||||||||||||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||||||||||||||||||
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Bankers : |
|
|
Auditors : |
|
|
Name : |
N. K. Shah and Associates Chartered Accountants |
|
Address : |
112, Damji Shamji Udyog Bhavan, Opposite Courtyard Restaurant, Veera
Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
E-Mail : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2017
|
Partner’s Capital Account |
INR
in Million |
|
|
|
|
Bhavika Shah |
0.109 |
|
Ruchita Shah |
0.018 |
|
Palak Shah |
0.025 |
|
|
|
|
Total |
0.152 |
|
Partner’s Current Account |
INR
in Million |
|
|
|
|
Bhavika Shah |
1.719 |
|
Ruchita Shah |
0.423 |
|
|
|
|
Total |
2.142 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Partners Capital account |
|
0.152 |
0.050 |
|
(b) Partners Current account |
|
2.142 |
0.100 |
|
(b) Reserves & Surplus |
|
0.000 |
0.132 |
|
Total
Shareholders’ Funds |
|
2.294 |
0.282 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
23.200 |
0.000 |
|
(b)
Trade payables |
|
95.316 |
140.240 |
|
(c)
Other current liabilities |
|
66.169 |
0.000 |
|
(d)
Short-term provisions |
|
0.512 |
0.000 |
|
Total
Current Liabilities |
|
185.197 |
140.240 |
|
|
|
|
|
|
TOTAL |
|
187.491 |
140.522 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
9.645 |
0.000 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
0.000 |
0.000 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
9.645 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
80.613 |
48.768 |
|
(c)
Trade receivables |
|
65.748 |
89.872 |
|
(d)
Cash and cash equivalents |
|
0.297 |
0.633 |
|
(e)
Short-term loans and advances |
|
31.188 |
1.249 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
177.846 |
140.522 |
|
|
|
|
|
|
TOTAL |
|
187.491 |
140.522 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
1027.067 |
151.628 |
|
|
|
Other Income |
|
0.237 |
0.000 |
|
|
|
TOTAL |
|
1027.304 |
151.628 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of sales |
|
1001.521 |
151.274 |
|
|
|
Other expenses |
|
1.504 |
0.221 |
|
|
|
TOTAL |
|
1003.025 |
151.495 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
24.279 |
0.133 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
15.548 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
8.731 |
0.132 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION |
|
6.177 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
2.554 |
0.132 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.486 |
0.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
2.068 |
0.087 |
|
Expected Sales (2017-2018): INR 160.000 Million
The above information has been parted by Mr. Rupesh Kokate [Account
Manager]
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
23.37 |
216.34 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
15.62 |
1.69 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
34.74 |
338.38 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
0.30 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
2.52 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
0.99 |
1.00 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
10.11 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
80.73 |
497.30 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
4.20 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
1.56 |
133.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
0.20 |
0.06 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
1.10 |
0.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
90.15 |
30.85 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
0.96 |
1.00 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
0.53 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
0.01 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
10.11 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
0.96 |
1.00 |
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 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Partners’ Capital account |
0.050 |
0.152 |
|
Partners’ Current account |
0.100 |
2.142 |
|
Reserves & Surplus |
0.132 |
0.000 |
|
Net
worth |
0.282 |
2.294 |
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
23.200 |
|
Total
borrowings |
0.000 |
23.200 |
|
Debt/Equity
ratio |
0.000 |
10.113 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
151.628 |
1027.067 |
|
|
|
577.360 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
151.628 |
1027.067 |
|
Profit/ (Loss) |
0.087 |
2.068 |
|
|
0.06% |
0.20% |
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 |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
Yes |
|
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 two year |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
INDEX OF CHARGES: NO CHARGES
EXISTS FOR COMPANY
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 64.91 |
|
UK Pound |
1 |
INR 91.87 |
|
Euro |
1 |
INR 80.26 |
INFORMATION DETAILS
|
Information
Gathered by: |
SHA |
|
|
|
|
Analysis Done
by: |
NIY |
|
|
|
|
Report Prepared
by: |
RUP |
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 |
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.