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MIRA
INFORM REPORT
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Report No. : |
508127 |
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Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
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Name : |
MORTEX (INDIA) |
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Registered
Office : |
9, Jagmohan, Malick Lane, Kolkata - 700069, West Bengal |
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Tel. No.: |
91-33-22430764 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Year of
establishment : |
1977 - Proprietorship Firm 1985 – Partnership Firm |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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IEC No.: |
0288026845 |
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TIN No.: |
19360897070 |
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GSTIN No : |
19AAFFM1720Q1ZY |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAFFM1720Q |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Trader and Exporter of Ferro Alloys, Iron and Steel. (Confirmed by management) |
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No. of Employees
: |
55 (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 |
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Maximum Credit Limit : |
USD 4000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1977 as a proprietorship concern
and later got converted into partnership firm in the year 1985. It is a
trader and exporter of Ferro Alloys, Iron and Steel. Mr. Mahesh Keyal (Partner) has provided general information to us and
he claimed that the subject has achieved a healthy revenue of INR 14000.000
million in the FY 2018 but the figure is not verified. Rating takes into consideration the subject’s established track record
of business operations and healthy revenue profile. Rating strength derives from experienced promoters, diversified client
profile and stable financial performance. However, rating strength is partially offset by low profit margin due
to trading nature of operations of the subject. Payments terms are reported to be slow but correct. In view of aforesaid, the subject 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 (30.06.2017) |
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 |
CARE |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
16.03.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
16.03.2018 |
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 14.05.2018.
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. Mahesh Chandra Keyal |
|
Designation : |
Partner |
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Contact No.: |
91-33-22430764 |
|
Date : |
10.05.2018 |
LOCATIONS
|
Registered Office : |
9, Jagmohan, Malick Lane, Kolkata - 700069, West Bengal, India |
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Tel. No.: |
91-33-22430764 |
|
Mobile No. : |
91-9831038364 (Mr. Mahesh Chandra Keyal) |
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Fax No.: |
91-33-22486310 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Leased |
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Locality : |
Commercial |
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|
|
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Corporate
Office: |
No. 1A, East India House, 20, British India Street, Kolkata – 700069,
West Bengal, India |
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Area : |
5600 sq. ft. |
|
Location : |
Owned |
|
|
|
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Warehouse : |
149 - 6, J.N. Mukharjee Road, Bandhaghat, Near Maya Cinema, Howrah –
711106, West Bengal, India |
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Area : |
25000 sq. ft. |
|
Location : |
Leased |
PARTNERS
|
Name : |
Mr. Mahesh Chandra Keyal |
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Designation : |
Partner |
|
Address : |
12 A, Rawdon Street, Kolkata – 700017, West Bengal, India |
|
|
|
|
Name : |
Mrs. Rashmi Keyal |
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Designation : |
Partner |
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Address : |
12 A, Rawdon Street, Kolkata – 700017, West Bengal, India |
|
|
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Name : |
Mrs. Sharda Devi Keyal |
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Designation : |
Partner |
|
Address : |
12 A, Rawdon Street, Kolkata – 700017, West Bengal, India |
BUSINESS DETAILS
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Line of Business : |
Trader and Exporter of Ferro Alloys, Iron and Steel. (Confirmed by management) |
|
|
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Products : |
· Ferro Alloys · Iron · Metal |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Asian Counties ·
African Countries ·
European Countries |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cheque and Credit (30 Days) |
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Purchasing : |
Cheque and Credit (30 Days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers
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No. of Employees : |
55 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Zaver and Company Chartered Accountants |
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Address : |
West Bengal, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
|
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Owned : |
Not Divulged |
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Borrowed : |
-- |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in INR Million]
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Sales Turnover (Approximately) |
14000.000 |
12000.000 |
7800.000 |
|
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(Due to business
growth) |
|
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The above information has been parted by Mr. Mahesh Chandra Keyal
(Partner)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
FINANCIAL ANALYSIS
[all figures are
INR Million]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales Turnover (Approximately) |
7800.000 |
12000.000 |
14000.000 |
|
|
|
53.846 |
16.667 |
%20-%20508127%2014-May-2018_files/image008.gif)
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 |
No |
|
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 |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
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 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 67.22 |
|
|
1 |
INR 90.87 |
|
Euro |
1 |
INR 80.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
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Analysis Done by
: |
VIV |
|
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|
Report Prepared
by : |
TRUP |
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 |
YES |
|
--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.