|
|
|
MIRA
INFORM REPORT
|
Report No. : |
509496 |
|
Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
H.K. ENTERPRISE AND SONS |
|
|
|
|
Registered Office : |
1 and 2 Alaknanda Complex, Near Meghnai Circle, Bhavnagar – 364001, Gujarat |
|
Mobile No.: |
91-9727688111 (Mr. Ibrahim Bhai Kalva) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 (Sales Turnover Figure) 31.03.2016 (Detailed Financial) |
|
|
|
|
Year of
Establishment: |
February, 2015 (Partnership Firm) 2010 (Proprietorship Firm) |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 23.771 Million (As on 31.03.2016) |
|
|
|
|
TIN No.: |
24140401404 |
|
|
|
|
CST No.: |
24640401404 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
2415902624 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAIFH5017J |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
24AAIFH5017J1ZH |
|
|
|
|
Service Tax No.: |
AAIFH5017JSD001 |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Trader, Importer and Dealer of Stainless Steel. (Confirmed by
management) |
|
|
|
|
No. of Employees
: |
14 (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 |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a partnership concern established in the year 2015. It is a
trader, dealer and importer of stainless steel. The concern has reported a decline in its revenue as compared to the
previous financial year 2016 but has managed to maintain a low profit margin
of 0.53%. Rating is constrained on account of highly competitive nature of steel
industry. Payment seems to be slow. In view of aforesaid, the concern can be considered for business
dealing at usual trade terms and condition. NOTE: As claimed by Mr. Abdulsattar Kalva, subject was established as
a proprietary concern in the year 2010 with the name of “H.K. ENTERPRISE” and
later in February 2015, it got converted in to partnership concern with the
name of “H.K. ENTERPRISE AND SONS” |
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
31-03-2018.
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 16.05.2018
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. Abdulsattar Kalva |
|
Designation : |
Partner |
|
Contact No.: |
91-9727688111 |
|
Date : |
16.05.2018 |
LOCATIONS
|
Registered Office : |
1 and 2 Alaknanda Complex, Near Meghnai Circle, Bhavnagar – 364001, Gujarat,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9727688111 (Mr. Ibrahim Bhai Kalva) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
6 acres |
|
Location : |
Owned |
|
|
|
|
Godown : |
2 and 3, Survey No. 183/1-2/1, Talaja Road, Adhewada, Bhavnagar –
364002, Gujarat, India |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Abdulsattar Kalva |
|
Designation : |
Partner |
|
Address : |
Plot No. 36/B, Near Meghani Circle, Bhavnagar - 364001, Gujarat, India |
|
Date of Birth/Age : |
30 Years |
|
Qualification : |
B.E.Ech, DIP.INT. Trade |
|
Experience : |
8 Years |
|
|
|
|
Name : |
Mr. Ibrahim Bhai Kalva |
|
Designation : |
Partner |
|
Address : |
Plot No. 36/B, Near Meghani Circle, Bhavnagar - 364001, Gujarat, India |
|
Date of Birth/Age : |
52 Years |
|
Qualification : |
HSC |
|
Experience : |
25 Years |
|
|
|
|
Name : |
Mr. Ismial Bhai Kalva |
|
Designation : |
Partner |
|
Address : |
Plot No. 36/B, Near Meghani Circle, Bhavnagar - 364001, Gujarat, India |
|
Date of Birth/Age : |
25 Years |
|
Qualification : |
B.B.A. |
|
Experience : |
5 Years |
BUSINESS DETAILS
|
Line of Business : |
Trader, Importer and Dealer of Stainless Steel. (Confirmed by
management) |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
Stainless Steel |
|
Countries : |
United Arab Emirates |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Credit (90 Days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (90 Days) |
PRODUCTION STATUS AS ON 31.03.2017
|
Particulars |
Installed
Capacity |
|
Stainless Steel |
100MT |
|
|
|
GENERAL INFORMATION
|
Suppliers : (As on 2016) |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
14 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
B. R. Popat and Company Chartered Accountants |
|
Address : |
S-1, Swastik, Near Dawn Chowk, Bhavnagar, Gujarat, India |
|
Tel. No.: |
91-278-2212099 / 2211009 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Sister Concern: |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2016
|
Name of Partners |
Profit Sharing
ration |
Opening balance |
Capital
Introduces |
Interest to
partners |
Remuneration to
partners |
Profit for the
year |
Sub total |
Deduction during
year |
Closing balance |
|
Ibrahim Bhai Kalva |
50.00% |
0.000 |
9.810 |
0.286 |
0.000 |
0.473 |
10.569 |
1.019 |
9.550 |
|
Abdulsattar Kalva |
25.00% |
0.000 |
10.075 |
0.341 |
0.000 |
0.236 |
10.652 |
1.022 |
9.630 |
|
Ismial Bhai Kalva |
25.00% |
0.000 |
3.505 |
0.265 |
0.378 |
0.236 |
4.384 |
0.000 |
4.384 |
|
TOTAL |
100.00% |
0.000 |
23.390 |
0.892 |
0.378 |
0.945 |
25.604 |
2.041 |
23.564 |
|
Name of Partners |
Profit Sharing
ration |
Opening balance |
Capital
Introduces |
Interest to
partners |
Remuneration to
partners |
Profit for the
year |
Sub total |
Deduction during
year |
Closing balance |
|
H. K. Enterprise (Proprietor Ibrahim Bhai Kalva) |
|
0.000 |
27.535 |
0.207 |
0.000 |
0.000 |
27.742 |
27.535 |
0.207 |
|
TOTAL |
|
0.000 |
27.535 |
0.207 |
0.000 |
0.000 |
27.742 |
27.535 |
0.207 |
|
Grand Total |
|
0.000 |
50.925 |
1.098 |
0.378 |
0.945 |
53.347 |
29.576 |
23.771 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2016 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
|
23.771 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
23.771 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
45.862 |
|
|
2] Unsecured Loans |
|
|
0.008 |
|
|
TOTAL BORROWING |
|
|
45.870 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
69.641 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.004 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3.867 |
|
|
Sundry Debtors |
|
|
75.835 |
|
|
Cash & Bank Balances |
|
|
3.929 |
|
|
Other Current Assets |
|
|
0.430 |
|
|
Loans & Advances |
|
|
1.416 |
|
Total
Current Assets |
|
|
85.477 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
14.584 |
|
|
Other Current Liabilities |
|
|
0.834 |
|
|
Provisions |
|
|
0.422 |
|
Total
Current Liabilities |
|
|
15.840 |
|
|
Net Current Assets |
|
|
69.637 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
69.641 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
198.298 |
|
|
Other Income |
|
|
0.878 |
|
|
TOTAL
|
|
|
199.176 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
191.683 |
|
|
Duties and Taxes |
|
|
0.467 |
|
|
Administrative and Other
expense |
|
|
2.854 |
|
|
Remuneration to partner |
|
|
0.378 |
|
|
TOTAL |
|
|
195.382 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
3.794 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
2.426 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
1.368 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
|
0.001 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
1.367 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.422 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
0.945 |
|
Particulars |
|
|
31.03.2017 |
|
Sales |
|
|
180.559 |
|
|
|
|
|
|
Profit/Loss for the year |
|
|
0.959 |
|
|
|
|
|
The above information has been parted by Mr. Abdulsattar Kalva (Partner)
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
139.59 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
|
2.61 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
|
27.77 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
|
0.98 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
948.50 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.72 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
1.93 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
0.67 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
1.56 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2016 |
|
((PAT / Sales) * 100) |
% |
|
|
0.48 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
1.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
3.98 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
5.39 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
|
5.15 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.28 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
1.93 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
5.39 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
198.298 |
180.559 |
|
|
|
(8.946) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
198.298 |
180.559 |
|
Profit |
0.945 |
0.959 |
|
|
0.48% |
0.53% |
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 – Legal Form |
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 |
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 |
No |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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 |
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 67.38 |
|
|
1 |
INR 91.39 |
|
Euro |
1 |
INR 79.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
RUB |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
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.