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MIRA INFORM REPORT
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Report No. : |
507935 |
|
Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARK CHEMICALS PRIVATE LIMITED |
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|
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|
Registered
Office : |
Office No.603, Eco House, Plot No. 8, Vishweshwar Nagar, 1st
Cross Road, Goregaon (East), Mumbai – 400063, Maharashtra |
|
Tel. No.: |
91-22-42576000 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
17.10.2007 |
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Com. Reg. No.: |
11-175116 |
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Capital
Investment / Paid-up Capital : |
INR 20.000 Million |
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CIN No.: [Company Identification
No.] |
U24100MH2007PTC175116 |
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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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TIN No.: |
27800634858 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAGCA6004R1ZD |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAGCA6004R |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Wholesale Trader of Industrial Chemicals such Silicon Oils and Agro Chemicals. [Registered Activity and also Confirmed by Management] |
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No. of Employees
: |
45 [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 : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2007. It is a trader of industrial
chemicals such silicon oils and agro chemicals. For the financial year 2017, the company has achieved 19.42% growth in
its revenue as compared as compared to the previous year revenue along with
average profit margin of 2.67%. The rating takes into consideration the satisfactory financial profile
of the company marked by sufficient networth base along with comfortable debt
coverage indicators. Business is active. Payment seems to be usually 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.
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
31-03-2018.
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 10.04.2018.
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 [ GENERAL DETAILS]
|
Name : |
Mrs. Sanika |
|
Designation : |
Admin and Accounts Assistant |
|
Contact No.: |
91-22-42576000 |
|
Date : |
08.05.2018 |
LOCATIONS
|
Registered Office : |
Office No.603, Eco House, Plot No. 8, Vishweshwar Nagar, 1st
Cross Road, Goregaon (East), Mumbai – 400 063, Maharashtra, India |
|
Tel. No.: |
91-22-42576000 / 42576045 |
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Fax No.: |
91-22-42576040 / 28354002 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Anilkumar Jugalkishore Wadhwa |
|
Designation : |
Director |
|
Address : |
C-117, Samir Apartment, 169, S.V. Road, Andheri (West), Mumbai – 400
058, Maharashtra, India |
|
Date of Birth/ Age : |
16.07.1958 |
|
Date of Appointment : |
17.10.2007 |
|
PAN No.: |
AAAPW2027R |
|
DIN No.: |
01534847 |
|
|
|
|
Name : |
Mrs. Renuka Anilkumar Wadhwa |
|
Designation : |
Director |
|
Address : |
C-117, Samir Apartment, 169, S.V. Road, Andheri (West), Mumbai – 400
058, Maharashtra, India |
|
Date of Birth/ Age : |
25.11.1959 |
|
Date of Appointment : |
17.10.2007 |
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PAN No.: |
AAAPW2027R |
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DIN No.: |
01534855 |
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|
|
|
Name : |
Mr. Kunal Anil Kumar Wadhwa |
|
Designation : |
Director |
|
Address : |
C-117, Samir Apartment, 169, S.V. Road, Andheri (West), Mumbai – 400
058, Maharashtra, India |
|
Date of Birth/ Age : |
24.02.1983 |
|
Date of Appointment : |
01.09.2008 |
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PAN No.: |
AAKPW1696G |
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DIN No.: |
02287084 |
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|
|
|
Name : |
Mr. Anmol Anilkumar Wadhwa |
|
Designation : |
Director |
|
Address : |
C-117, Samir Apartment, 169, S.V. Road, Andheri (West), Mumbai – 400
058, Maharashtra, India |
|
Date of Birth/ Age : |
11.12.1988 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No.: |
03460452 |
|
PAN No.: |
AAZPW6770E |
KEY EXECUTIVES
|
Name : |
Mrs. Sanika |
|
Designation : |
Admin and Accounts Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
Anil Kumar Wadhwa |
1100000 |
55.00 |
|
Renuka Wadhwa |
300000 |
15.00 |
|
Kunal Wadhwa |
200000 |
10.00 |
|
Anmol Wadhwa |
200000 |
10.00 |
|
Neha Wadhwa |
200000 |
10.00 |
|
|
|
|
|
Total |
2000000 |
100.00 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Wholesale Trader of Industrial Chemicals such Silicon Oils and Agro Chemicals. [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 : |
Advance Payment, L/C and Cheque |
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Purchasing : |
Advance Payment, L/C, NEFT, REGS and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
· VVS · Sunshide |
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Customers : |
Wholesalers and Manufacturer and Dealers
· ITC · Wipro |
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No. of Employees : |
45 [Approximately] |
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Bankers : |
· Citi Bank N.A. Trent House, 2nd Floor, G Block, Plot NO.C60, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India |
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Facilities : |
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Financial Institution: |
· The Hong Kong and Shanghai Banking Corporation Limited 52/60, Mahatma Gandhi Road, Fort, Mumbai-400063,
Maharashtra, India |
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Auditors : |
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|
Name : |
Prakash Madlecha and Company Chartered Accountants |
|
Address : |
Office No. 7, Shree Vikas Co-Operative Society, 7th Golibar Road, Mumbai, Maharashtra, India |
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Tel. No.: |
91-22-2613953 |
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Income-tax
PAN of auditor or auditor's firm : |
AAMFP5308G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Proprietorship Firm
of Director : |
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|
Enterprises which
are owned, or have significant influence of or are
partners with Key management
personnel and their relatives : |
JKW Chemicals Private Limited [U74120MH2011PTC225618] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000
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 |
20.000 |
20.000 |
10.000 |
|
(b) Reserves and Surplus |
102.821 |
70.043 |
56.961 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
122.821 |
90.043 |
66.961 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
88.059 |
83.809 |
40.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
88.059 |
83.809 |
40.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
41.666 |
11.838 |
32.093 |
|
(b) Trade
payables |
191.528 |
168.979 |
147.967 |
|
(c) Other
current liabilities |
4.608 |
4.206 |
2.961 |
|
(d) Short-term
provisions |
46.647 |
26.933 |
19.774 |
|
Total Current
Liabilities (4) |
284.449 |
211.956 |
202.795 |
|
|
|
|
|
|
TOTAL |
495.329 |
385.808 |
309.756 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
24.273 |
26.141 |
6.519 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
43.867 |
25.265 |
13.335 |
|
(e) Other
Non-current assets |
0.170 |
0.256 |
0.106 |
|
Total Non-Current
Assets |
68.310 |
51.662 |
19.960 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
157.222 |
105.247 |
91.316 |
|
(c) Trade
receivables |
254.427 |
217.307 |
191.702 |
|
(d) Cash and
bank balances |
9.704 |
10.767 |
2.788 |
|
(e)
Short-term loans and advances |
5.580 |
0.739 |
0.400 |
|
(f) Other
current assets |
0.086 |
0.086 |
3.590 |
|
Total
Current Assets |
427.019 |
334.146 |
289.796 |
|
|
|
|
|
|
TOTAL |
495.329 |
385.808 |
309.756 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
1225.378 |
1026.139 |
965.855 |
|
|
Other Income |
21.221 |
14.724 |
45.755 |
|
|
TOTAL |
1246.599 |
1040.863 |
1011.610 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
1049.214 |
874.989 |
867.901 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(51.975) |
(13.931) |
(8.949) |
|
|
Employee benefit expense |
44.413 |
33.353 |
19.716 |
|
|
Other expenses |
139.506 |
97.099 |
86.394 |
|
|
TOTAL |
1181.158 |
991.510 |
965.062 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
65.441 |
49.353 |
46.548 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
10.986 |
9.475 |
8.439 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
54.455 |
39.878 |
38.109 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.578 |
2.359 |
1.630 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
49.877 |
37.519 |
36.479 |
|
|
|
|
|
|
|
Less |
TAX |
17.100 |
14.437 |
12.325 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
32.777 |
23.082 |
24.154 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
14.863 |
0.560 |
0.000 |
|
|
|
|
|
|
|
|
Earnings Per Share (INR) |
16.389 |
11.541 |
12.077 |
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 |
(21.447) |
16.319 |
36.479 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(21.447) |
15.882 |
36.479 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
75.79 |
77.30 |
72.44 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.82 |
4.72 |
5.04 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
66.63 |
70.49 |
62.23 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.42 |
0.47 |
0.51 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.70 |
1.89 |
7.14 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.75 |
0.77 |
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.06 |
1.06 |
1.08 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.32 |
2.35 |
3.03 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.20 |
0.29 |
0.10 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.96 |
5.21 |
5.52 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.67 |
2.25 |
2.50 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.62 |
5.98 |
7.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
26.69 |
25.63 |
36.07 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.50 |
1.58 |
1.43 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.95 |
1.08 |
0.98 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.25 |
0.23 |
0.22 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.49 |
4.78 |
7.21 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.50 |
1.58 |
1.43 |
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 |
10.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
56.961 |
70.043 |
102.821 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
66.961 |
90.043 |
122.821 |
|
|
|
|
|
|
Long-term borrowings |
40.000 |
83.809 |
88.059 |
|
Short term borrowings |
32.093 |
11.838 |
41.666 |
|
Total
borrowings |
72.093 |
95.647 |
129.725 |
|
Debt/Equity
ratio |
1.077 |
1.062 |
1.056 |
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 |
965.855 |
1026.139 |
1225.378 |
|
|
|
6.242 |
19.416 |
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 |
965.855 |
1026.139 |
1225.378 |
|
Profit |
24.154 |
23.082 |
32.777 |
|
|
2.50
% |
2.25
% |
2.67
% |
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 |
G42164731 |
100093072 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
27/02/2017 |
- |
- |
120000000.0 |
52/60, MAHATMA GANDHI ROAD,FORTMUMBAIMH400063IN |
|
2 |
G01936368 |
100021389 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
01/03/2016 |
- |
- |
11500000.0 |
52/60, MAHATMA GANDHI ROAD,FORTMUMBAIMH400001IN |
|
3 |
G01937572 |
100021391 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
01/03/2016 |
- |
- |
120000000.0 |
52/60, MAHATMA GANDHI ROAD,FORTMUMBAIMH400001IN |
|
4 |
C75067702 |
10116620 |
CITI BANK N.A. |
17/07/2008 |
31/08/2015 |
- |
100000000.0 |
FIRST INTERNATIONAL FINANCIAL CENTRE, 9TH FLOOR,PLOT NO. C-54 & 55, G-BLOCK, BKC, BANDRA (E)MUMBAIMH400051IN |
BRIEF DESCRIPTION OF THE COMPANY'S WORKING
DURING THE YEAR/STATE OF COMPANY'S AFFAIR:-
The company achieved 19.42% growth in gross revenue which increased from INR 1026.139 million in FY 2015-16 to INR 1225.378 million in FY 2016-17 and profit after tax increased by 42.00% from INR 23.082 million to INR 32.777 million
FIXED ASSETS:
- Buildings
- Office building
- Factory building
- Furniture and fixtures
- Vehicles
- Office equipment
- 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, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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 67.38 |
|
UK Pound |
1 |
INR 91.09 |
|
Euro |
1 |
INR 79.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SRY |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
ARC |
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.