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%2016-May-2018_files/image007.jpg){kind=small}
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%2016-May-2018_files/image010.gif)
MIRA INFORM REPORT
|
Report No. : |
507456.2 |
|
Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
NAVA DURGA ENTERPRISES |
|
|
|
|
Registered
Office : |
4-2-82/83, 1st Floor, Old Boiguda, RP Road, Secunderabad - 500003,
Telangana |
|
Mobile No.: |
91-9246558014 (Mr. Bherulal Dhelarya) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Year of
Establishment : |
2013 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 6.054 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
GSTIN : [Goods & Service Tax Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Trader, Supplier and Distributor of Wires, Cables,
Electrical Products, Control Panels etc. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
25 (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 |
|
Maximum Credit Limit : |
USD 17000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a partnership firm established in the year 2013 and it is a trader, supplier and distributor of wires, cables, electrical products and control panels. Mr. Bherulal (Partner) has provided general information but he denied to provide any financials information about the subject. As per available financials of March 2017, the subject has achieved a sales turnover of INR 154.04 million and has reported average profit margin of 1.04%. Rating is constrained on account of no trace of the subject. Payments seems to be unknown. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. Note: Site visit was conducted at the given address which you had provide. However, our executive has not found the subject at the given address. As per our executive’s observation, location was easy to find and locality seems to be commercial. Area seems to be neutral. Landmark- Near City Light Hotel. During the visit, our executive met with neighbour companies (S.K. Gupta Valves Private Limited and Maheshwari Engineering) but they were also not aware about the subject. Further, our executive contacted Mr. Bherulal (Partner) but he denied to guide through the subject. Name board of the subject was not sighted at the premises. |
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 (GENERAL DETAILS)
|
Name : |
Mr. Bherulal Dhelarya |
|
Designation : |
Partner |
|
Contact No.: |
91-9246558014 |
|
Date : |
07.05.2018 |
LOCATIONS
|
Registered Office / Warehouses : |
4-2-82/83, 1st Floor, Old Boiguda, RP Road, Secunderabad - 500003,
Telangana, India |
|
Tel. No.: |
91-40-66562814 |
|
Mobile No.: |
91-9246558014 (Mr. Bherulal Dhelarya) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
PARTNERS
|
Name : |
Mr. Praksh Kumar Bengani |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Bherulal Dhelarya |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Trader, Supplier and Distributor of Wires,
Cables, Electrical Products, Control Panels etc. (Confirmed by management) |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Advance Payment, L/C, Cash, Cheque and Credit (30 Days) |
|
|
|
|
Purchasing : |
Advance Payment, L/C, Cash, Cheque and Credit (30 Days) |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
25 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Ramavatar and Associates Chartered Accountants |
|
Address : |
Kolkata, West Bengal, India |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Membership : |
Not Available |
|
|
|
|
Sister Concern : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2017
PRAKASH KUMAR BENGANI
|
Particulars |
Amount |
|
Old Balance |
1.832 |
|
Add : Capital this year |
0.300 |
|
Less : Drawing |
0.156 |
|
Add : Remuneration |
0.104 |
|
Add : Interest on Capital |
0.319 |
|
Add : Net profit |
0.279 |
|
Total |
2.679 |
BHERULAL BENGANI
|
Particulars |
Amount |
|
Old Balance |
2.971 |
|
Add : Capital this year |
0.695 |
|
Less : Drawing |
0.156 |
|
Add : Remuneration |
0.104 |
|
Add : Interest on Capital |
0.518 |
|
Add : Net profit |
0.279 |
|
Total |
3.375 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
EQUITY
AND LIABILITIES |
|
|
|
|
|
1Partner’s Capital |
|
|
6.054 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
6.054 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
27.276 |
|
|
TOTAL BORROWING |
|
|
27.276 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
33.330 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.127 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS,
LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
30.938 |
|
|
Sundry Debtors |
|
|
37.805 |
|
|
Cash & Bank Balances |
|
|
2.612 |
|
|
Other Current Assets |
|
|
0.110 |
|
|
Loans & Advances and Deposits |
|
|
0.790 |
|
Total
Current Assets |
|
|
72.255
|
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
38.500 |
|
|
Other Current Liabilities |
|
|
0.552 |
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
39.052
|
|
|
Net Current Assets |
|
|
33.203
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
33.330 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
154.037 |
|
|
Other Income |
|
|
5.450 |
|
|
TOTAL
|
|
|
159.487 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
149.256 |
|
|
Freight Expenses |
|
|
0.062 |
|
|
Salary |
|
|
0.531 |
|
|
General Expenses |
|
|
0.038 |
|
|
Telephone Charges |
|
|
0.015 |
|
|
Electricity Expenses |
|
|
0.031 |
|
|
Rent Paid |
|
|
0.118 |
|
|
Shop Rent |
|
|
0.450 |
|
|
Property Tax |
|
|
0.038 |
|
|
Profession Tax |
|
|
0.005 |
|
|
Printing & Stationery |
|
|
0.033 |
|
|
Postage & Courier expenses |
|
|
0.032 |
|
|
Vehicle Maintenance |
|
|
0.109 |
|
|
Legal expenses |
|
|
0.021 |
|
|
Sales promotion |
|
|
0.012 |
|
|
Travelling expenses |
|
|
0.005 |
|
|
Commission |
|
|
3.979 |
|
|
TOTAL |
|
|
154.735 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
4.752 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
3.115 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
1.637 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
0.032 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) FOR THE PERIOS |
|
|
1.605 |
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry
Records.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry Debtors / Operating Income * 365
Days) |
|
|
89.58 |
|
|
|
|
|
|
Account Receivables Turnover (Operating Income
/ Sundry Debtors) |
|
|
4.07 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
|
94.15 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
|
0.15 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
37.42 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.92 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
4.51 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
6.45 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
0.02 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
1.53 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin ((PAT
/ Sales) * 100) |
% |
|
|
1.04 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
2.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
26.51 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.83 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
|
|
1.04 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.08 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
4.51 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
1.83 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
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 |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
No |
|
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) |
No |
|
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 one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
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 |
|
OBSERVATION
POINTS |
|
Name : |
Nava Durga Enterprises |
|
|
|
|
Address : |
4-2-82/83, 1st Floor, Old Boiguda, RP Road, Secunderabad - 500003,
Telangana, India |
|
|
|
|
Name Board: |
Not Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark : |
City Light Hotel and Bakery |
|
|
|
|
Locality: |
Commercial |
|
|
|
|
Area: |
Neutral |
|
|
|
|
Neighbor’s
Interview : |
|
|
Name of Company
1: |
S. K Gupta Valves Private Limited |
|
|
|
|
Name of Company
2: |
Maheshwari Engineering |
|
|
|
|
Proof of visit: |
Photographs |
UNSECURED LOAN
|
PARTICULARS |
|
31.03.2017 (INR
in Million) |
|
Anita Agarwal |
|
0.567 |
|
Babulla Bengani – HUF |
|
0.651 |
|
Bherulal Dhelriya |
|
2.535 |
|
HSc Trading Company |
|
0.509 |
|
Kanta Devi bengani |
|
0.300 |
|
Khushbu Bengani |
|
1.354 |
|
Master Sorav Bengani |
|
0.928 |
|
Navratnlal |
|
0.195 |
|
Naveen |
|
0.282 |
|
Neetu Devi |
|
2.775 |
|
Neha Begani |
|
1.317 |
|
Nikitha Begani |
|
1.381 |
|
Prakash Kumar – HUF |
|
0.245 |
|
Pratibha Begani |
|
1.413 |
|
Priyanka Begani |
|
1.123 |
|
Purva Begani |
|
1.128 |
|
Rakesh Begani |
|
0.200 |
|
Ranjana Devi Begani |
|
2.992 |
|
Renu Agarwal |
|
0.908 |
|
Sampat |
|
0.052 |
|
Sampatlal Begani – HUF |
|
0.422 |
|
Sangeetha |
|
0.236 |
|
Shilpa |
|
0.623 |
|
Siddharth |
|
1.791 |
|
Swapna Choridya |
|
1.457 |
|
Swati |
|
1.892 |
|
Total |
|
27.276 |
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.
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 67.52 |
|
UK Pound |
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
RUB |
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|
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Analysis Done by
: |
VIV |
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Report Prepared
by : |
TRUP |
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.