|
|
|
MIRA
INFORM REPORT
|
Report No. : |
500055 |
|
Report Date : |
28.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BEST UNITED
INDIA COMFORTS PRIVATE LIMITED (w.e.f.18.06.2009) |
|
|
|
|
Formerly Known
As : |
UNITED INDIA COMFORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
The Lalit Residency, 2nd Floor, The Lalit Mumbai, Sahar
Airport Road, Sahar, Andheri (East), Mumbai – 400059, Maharashtra |
|
Mob. No.: |
91-9967067069 (Mr. Amey Salunke) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.07.2016 |
|
|
|
|
Date of Incorporation
: |
04.03.2009 |
|
|
|
|
Com. Reg. No.: |
11-190686 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 732.996 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52390MH2009PTC190686 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TIN No.: |
27690711888 |
|
|
|
|
GST No.: |
27AABCU0772F1ZG |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCU0772F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of Readymade Garments and Accessories Items. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 770000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Bestseller United Singapore Pte Limited,
Singapore” and was incorporated in the year 2009 having satisfactory track
record. Bestseller has a number of different brands under which it sells its
clothing. The brands are sold both in the company’s own stores and through
independent retailers. Management has failed to file its financials for the year 2017 with
Registrar of Companies. As per the financial records of 2016, the company has achieved top lone
sales growth compared to its previous year but has reported continues losses
which has resulted in negative reserves. Rating takes into consideration, the satisfactory financial risk
profile of the company is marked by improving net worth base due to equity
infusion by its holding company along with comfortable liquidity position. Rating also takes into account, the strong financial and managerial
support that company receives from its holding entity backed by its well
experienced management team. Rating strength is
partially offset by highly competitive nature of the industry with presence
of other large players and unorganized sector marked by profit margins
exposed to fluctuations in the input prices. Business is active.
Payments are reported to be slow but correct. In view of aforesaid, the
company can be considered for business dealings usual trade terms and
conditions. NOTE: The management of the
company has prepared a internal financial controls over financial reporting
under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013. As of July 31, 2016 in
conjunction with audited standalone financial statements of the Company for
the four months period ended on that date, shows improved profitability margins
along with equity infused by its promoters to meet its working capital
requirement which has maintained fair net worth base. |
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 28.03.2018
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 DECLINED BY
|
Name : |
Mr. Santosh Dubey |
|
Designation : |
Project Head |
|
Contact No.: |
91-9819676845 |
|
Date : |
27.03.2018 |
LOCATIONS
|
Registered / Correspondence Office: |
The Lalit Residency, 2nd Floor, The Lalit Mumbai, Sahar
Airport Road, Sahar, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9819676845 (Mr. Santosh Dubey) 91-9967067069 (Mr. Amey Salunke) |
|
Fax No.: |
91-22-28476992 |
|
E-Mail : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Anders Holch Povlsen |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
Storskovvej 20 B Ormslev 8260 Viby J 000000 DK |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.04.1972 |
||||||||||||||||||||||||||||
|
Qualification: |
Bachelor Degree in Business Administration |
||||||||||||||||||||||||||||
|
Date of Appointment : |
06.02.2016 |
||||||||||||||||||||||||||||
|
DIN No.: |
03346052 |
||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Lise Kaae |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
Jorgasvej 11, Dk- 7120, Vejle Ost Denmark - 7120 DK |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.07.1969 |
||||||||||||||||||||||||||||
|
Qualification: |
State- Authorised Public Accountant |
||||||||||||||||||||||||||||
|
Date of Appointment : |
06.02.2016 |
||||||||||||||||||||||||||||
|
DIN No.: |
03346079 |
||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Vineet Gautam |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
402, A Wing, Oberoi Woods, Mohan Gokhale Road, Goregaon East, Mumbai – 400063, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.12.1976 |
||||||||||||||||||||||||||||
|
Qualification: |
A Hotel Management Graduate from IHM Delhi |
||||||||||||||||||||||||||||
|
Date of Appointment : |
06.02.2016 |
||||||||||||||||||||||||||||
|
DIN No.: |
07263326 |
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|
Other Directorship:
|
|||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Pratap Swarup |
|
Designation : |
Chief Finance Officer |
|
Address : |
1804, C Wing, Oberoi Splendor, JVLR, Opposite Majas Depot, Jogeshwari (East) Mumbai 400060, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1972 |
|
Qualification: |
ICWA |
|
Date of Appointment : |
01.03.2006 |
|
PAN No.: |
ANJPS0754K |
|
|
|
|
Name : |
Mr. Santosh Dubey |
|
Designation : |
Project Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.01.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Prashant Agrawal |
5000 |
0.01 |
|
Aman Agrawal |
5000 |
0.01 |
|
B. R. Machine Tools Private Limited, India |
4935166 |
6.73 |
|
Bestseller United Singapore Pte. Limited, Singapore |
66702601 |
91.00 |
|
Bombay Rayon Clothing Limited, India |
1651794 |
2.25 |
|
|
|
|
|
Total |
73299561 |
100.00 |
AS ON: 31.01.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
0.01 |
|
Promoters (Body corporate) |
6.73 |
|
Promoters (Others - Foreign Body Corporate) |
91.00 |
|
Public/Other than promoters (Body corporate) |
2.26 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Readymade Garments and Accessories Items. (Registered
Activity) |
||||
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|
||||
|
Products : |
|
||||
|
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|
||||
|
Brand Names : |
Not Available |
||||
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|
||||
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Agencies Held : |
Not Available |
||||
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||||
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Exports : |
Not Divulged |
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|
||||
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Imports : |
Not Divulged |
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||||
|
Terms : |
|
||||
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Selling : |
Not Divulged |
||||
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|
||||
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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||||||||||||||||||||||
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Customers : |
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||||||||||||||||||||||
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No. of Employees : |
Not Divulged |
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Mr. Singhi Chugh and Kumar Chartered Accountants |
|
Address : |
1, Gf, B-7/107, A, Safdarjung Enclave Ext, New Delhi-110029, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAXFS9370A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Bestseller United Singapore Pte. Limited, Singapore |
|
|
|
|
Subsidiary company: |
Bestseller United China Limited |
|
|
|
|
Associates Company: |
· Bestseller Retail India Private Limited [U52390MH2009PTC190721] · Bestseller Wholesale India Private Limited [U51109MH2009PTC193223] · Bestseller Fashion India Private Limited [U51109MH2010PTC208285] · Reynold Shirting Limited [U17120MH2003PLC143303] · B R Machine Tools Private Limited [U29220KA1978PTC003427] · Bombay Rayon Clothing Limited [U18101MH2005PLC150375] · Best Seller United India Private Limited [U74899MH1994PTC289313] |
CAPITAL STRUCTURE
AFTER 31.07.2016
Authorised Capital : INR 1550.000 Million
Issued, Subscribed & Paid-up Capital : 1374.833
Million
AS ON 31.07.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
INR 10/- each |
INR 800.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
73299561 |
Equity Shares |
INR 10/- each |
INR 732.996 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
01.04.2016 to 31.07.2016 [4 Months] |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
|
(a) Share Capital |
732.996 |
340.525 |
10.100 |
10.100 |
|
(b) Reserves & Surplus |
(462.755) |
(233.658) |
(227.972) |
(149.868) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
270.241 |
106.867 |
(217.872) |
(139.768) |
|
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
17.878 |
3.081 |
0.924 |
0.356 |
|
Total
Non-current Liabilities (3) |
17.878 |
3.081 |
0.924 |
0.356 |
|
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
|
(a)
Short term borrowings |
950.000 |
55.400 |
55.400 |
62.193 |
|
(b)
Trade payables |
175.287 |
545.349 |
437.613 |
223.464 |
|
(c)
Other current liabilities |
54.508 |
7.123 |
7.398 |
16.081 |
|
(d)
Short-term provisions |
80.431 |
1.186 |
0.515 |
0.186 |
|
Total
Current Liabilities (4) |
1260.226 |
609.058 |
500.926 |
301.924 |
|
|
|
|
|
|
|
TOTAL |
1548.345 |
719.006 |
283.978 |
162.512 |
|
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
|
(i)
Tangible assets |
253.700 |
163.785 |
102.520 |
78.424 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
6.274 |
1.626 |
1.020 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
8.067 |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
141.549 |
90.387 |
47.333 |
18.632 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
403.316 |
260.450 |
151.479 |
98.076 |
|
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
309.063 |
121.404 |
92.555 |
59.029 |
|
(c)
Trade receivables |
673.213 |
0.000 |
1.474 |
1.791 |
|
(d)
Cash and cash equivalents |
143.635 |
334.090 |
38.059 |
3.460 |
|
(e)
Short-term loans and advances |
19.118 |
3.066 |
0.411 |
0.156 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1145.029 |
458.560 |
132.499 |
64.436 |
|
|
|
|
|
|
|
TOTAL |
1548.345 |
719.006 |
283.978 |
162.512 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
01.04.2016 to 31.07.2016 [4 Months] |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Revenue from Operations |
1491.102 |
720.797 |
424.173 |
219.177 |
|
|
|
Other Income |
1.309 |
0.034 |
0.215 |
0.754 |
|
|
|
TOTAL |
1492.411 |
720.831 |
424.388 |
219.931 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
1070.665 |
429.981 |
337.429 |
181.195 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(175.088) |
(28.849) |
(33.526) |
(37.553) |
|
|
|
Employees benefits expense |
113.824 |
65.285 |
35.617 |
18.926 |
|
|
|
Other expenses |
223.653 |
221.455 |
132.261 |
90.446 |
|
|
|
TOTAL |
1233.054 |
687.872 |
471.781 |
253.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
259.357 |
32.959 |
(47.393) |
(33.083) |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6.211 |
0.000 |
0.702 |
0.417 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
253.146 |
32.959 |
(48.095) |
(33.500) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.652 |
38.646 |
30.009 |
40.518 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
223.494 |
(5.687) |
(78.104) |
(74.018) |
|
|
|
|
|
|
|
|
|
|
Less |
TAX |
66.934 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
156.560 |
(5.687) |
(78.104) |
(74.018) |
|
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
2.96 |
(5.17) |
(77.33) |
(73.28) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
01.04.2016 to 31.07.2016 [4 Months] |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
NA |
|
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
(1294.120) |
114.432 |
126.260 |
33.392 |
|
|
|
|
|
|
|
Net Cash flow from (used in) Operating activities |
(13691.20) |
114.451 |
126.239 |
33.390 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
01.04.2016 to 31.07.2016 [4 Months] |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
164.79 |
0.00 |
1.27 |
2.98 |
|
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.21 |
0.00 |
287.77 |
122.38 |
|
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
59.76 |
462.93 |
473.37 |
450.15 |
|
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.84 |
0.27 |
-0.51 |
-0.56 |
|
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.02 |
0.19 |
-0.46 |
-0.42 |
LEVERAGE RATIOS
|
PARTICULARS |
01.04.2016 to 31.07.2016 [4 Months] |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.81 |
0.85 |
1.76 |
1.86 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
3.52 |
0.52 |
(0.25) |
(0.44) |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.66 |
5.70 |
(2.30) |
(2.16) |
|
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.94 |
1.59 |
(0.48) |
(0.57) |
|
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
41.76 |
0.00 |
(67.51) |
(79.34) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
01.04.2016 to 31.07.2016 [4 Months] |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
10.50 |
(0.79) |
(18.41) |
(33.77) |
|
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
10.11 |
(0.79) |
(27.50) |
(45.55) |
|
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
57.93 |
(5.32) |
35.85 |
52.96 |
SOLVENCY RATIOS
|
PARTICULARS |
01.04.2016 to 31.07.2016 [4 Months] |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.91 |
0.75 |
0.26 |
0.21 |
|
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.66 |
0.55 |
0.08 |
0.02 |
|
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.17 |
0.15 |
-0.77 |
-0.86 |
|
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.30 |
0.16 |
5.49 |
6.16 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.91 |
0.75 |
0.26 |
0.21 |
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
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
10.100 |
10.100 |
340.525 |
|
Reserves & Surplus |
(149.868) |
(227.972) |
(233.658) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(139.768) |
(217.872) |
106.867 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
62.193 |
55.400 |
55.400 |
|
Total
borrowings |
62.193 |
55.400 |
55.400 |
|
Debt/Equity
ratio |
(0.445) |
(0.254) |
0.518 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
219.177 |
424.173 |
720.797 |
|
|
|
93.530 |
69.930 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
219.177 |
424.173 |
720.797 |
|
Profit/(Loss) |
(74.018) |
(78.104) |
(5.687) |
|
|
(33.77%) |
(18.41%) |
(0.79%) |
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 |
No |
|
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 |
Yes |
|
26 |
Turnover of firm for last three years and
four months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years and
four months |
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 CHARGES: NO CHARGES
EXISTS FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
01.04.2016
to 31.07.2016 (INR
In Million) [4
Months] |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from others |
0.000 |
55.400 |
|
|
|
|
|
Total |
0.000 |
55.400 |
OPERATIONS AND BUSINESS PERFORMANCE
For the period ended 31st July 2016, the Company’s Revenue from operations stood INR 1490.782 as against INR 720.111 million in previous financial year and Other Income for the given period stood INR 1.630 million as against INR 0.719 million in the previous Financial Year
The Company has incurred Net Profit after tax of INR. 156.560 million for the said Period ended 31st July, 2016 as against Net Loss of INR 5.686 million in the previous financial year.
FIXED ASSETS:
·
Furniture and fixtures
·
Office equipment
·
Leasehold improvements
·
Computer equipment’s
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 64.80 |
|
UK Pound |
1 |
INR 92.26 |
|
Euro |
1 |
INR 80.76 |
INFORMATION
DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.