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MIRA INFORM REPORT
|
Report No. : |
507424.2 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
HARI OM TRADING CO. |
|
|
|
|
Registered
Office : |
2222, Chah Indara, Bhagirath Palace, Delhi - 110006 |
|
Tel. No.: |
91-11-23874032/ 23874338 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Year of
Establishment : |
1995 |
|
|
|
|
Capital
Investment : |
INR 4.438 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFPC2086H |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Dealer of House
Electrical Fitting Wire, Industrial Cable, Aluminium Wire, Multi core Wire
& Cables, Modular Switches, Electronic Circuit Breaker, etc. [From Indirect Source] |
|
|
|
|
No. of Employees
: |
10 [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 13000 [INR 8,84,065.00] |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Mr. Praveen
Choudhary (Contacted Person) has flatly denied to provide any information
about the subject. As per
indirect sources we could find that subject was established in the year 1995
as proprietorship firm and it is a dealer of house electrical fitting wire,
industrial cable, aluminium wire, multi core wire & cables, modular
switches, etc. As per
provided financials of 2017, the firm has achieved decent revenue from its
operations but reported average profitability margin of 1.35%. Rating
takes into consideration firm’s sound financial risk profile marked by
adequate capital base and low debt balance sheet. The firm
also derives strength from its long standing track records of business
operations. Trade
relations are reported as fair. Business is active. Payment terms are seems
to be slow but correct. In view of
aforesaid, the firm can be considered for business dealings at usual trade
terms and conditions. Note: Site visit was conducted at the
address which you have provided. Our executive has successfully traced the
firm on the given address. At the
premises our executive met to Mr. Praveen Choudhary of the firm and he
provided contact number i.e. 011-23874032 and email id i.e. hotc2222@gmail.com. As per our
executive observation, location of the firm is easy to find. Landmark was
near Bhagirath palace. It is a 1 storey building and firm is situated on
ground floor. Locality appears to be commercial. Area seems to be neutral. Area of the
premises was 150 (SQ. FT) and 06 employees were sighted into premises. Name board
of the firm was sighted at the given address. Further, our executive enquired from neighbouring entity i.e. Mr. Rajendra (RK Enterprise) and Mr. S.K. Sharma (Ujala Electrical) and they were also confirmed that firm exists on given address. |
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
31-03-2018.
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 18.05.2018.
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 DECLINED BY
|
Name : |
Mr. Praveen
Choudhary |
|
Designation : |
Not
Divulged |
|
Contact No.: |
91-9910171700 |
|
Date : |
08.05.2018 |
LOCATIONS
|
Registered Office : |
2222, Chah Indara, Bhagirath Palace, Delhi - 110006, India |
|
Tel. No.: |
91-11-23874032/ 23874338 |
|
Mobile No.: |
91-9910171700/ 9871705554 [Mr. Praveen Choudhary] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
150 Sq. Ft [As per site visit] |
|
Locality : |
Commercial [As per site visit] |
SOLE PROPRIETOR [From Indirect Sources]
|
Name : |
Mr. Praveen
Choudhary |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Dealer of House
Electrical Fitting Wire, Industrial Cable, Aluminium Wire, Multi core Wire
& Cables, Modular Switches, Electronic Circuit Breaker, etc. [From Indirect Source] |
|
|
|
|
Products/ Services : |
·
Electrical
Fitting Wire ·
Industrial
Cable ·
Aluminium
Wire ·
Multi
core Wire & Cables ·
Modular
Switches, etc. |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
· Havells Switches · Rao Switches · Anchor |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, DD and Cheque |
|
|
|
|
Purchasing : |
Cash, DD and Cheque |
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
10 [Approximately] |
||||||||||||||||||||||
|
|
|
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Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name: |
J Bhagwan and Associates Chartered Accountants |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 31.03.2017
|
Proprietor Capital Account: |
INR in Million |
|
Mr. Praveen Choudhary |
3.364 |
|
Add: Deposits |
0.252 |
|
Add: Net profit |
1.235 |
|
|
------------- |
|
|
4.851 |
|
Less: Income tax |
0.269 |
|
Less: Drawings |
0.144 |
|
|
------------- |
|
Total : |
4.438 |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
|
|
4.438 |
|
|
2] Reserves & Surplus |
|
|
0.000 |
|
|
NETWORTH |
|
|
4.438 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3.044 |
|
|
2] Unsecured Loans |
|
|
0.640 |
|
|
TOTAL BORROWING |
|
|
3.684 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8.122 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.737 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1.842
|
|
|
Sundry Debtors |
|
|
22.623
|
|
|
Cash & Bank Balances |
|
|
0.483
|
|
|
Other Current Assets |
|
|
1.138
|
|
|
Loans & Advances |
|
|
1.005
|
|
Total
Current Assets |
|
|
27.091
|
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
19.655
|
|
|
Other Current Liabilities |
|
|
0.051
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
19.706
|
|
|
Net Current Assets |
|
|
7.385
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8.122 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
|
91.197 |
|
|
|
Other Income |
|
|
5.224 |
|
|
|
TOTAL |
|
|
96.421 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
89.611 |
|
|
|
Accountancy charges |
|
|
0.072 |
|
|
|
Advertisement |
|
|
0.014 |
|
|
|
Discount |
|
|
1.097 |
|
|
|
Commission on sales |
|
|
1.420 |
|
|
|
Car running and maintains |
|
|
0.064 |
|
|
|
Travelling expenses |
|
|
0.005 |
|
|
|
Charity and donations |
|
|
0.020 |
|
|
|
Chokidar expenses |
|
|
0.024 |
|
|
|
Conveyance |
|
|
0.052 |
|
|
|
Electric expenses |
|
|
0.177 |
|
|
|
Bonus |
|
|
0.067 |
|
|
|
Professional charges |
|
|
0.023 |
|
|
|
Miscellances expenses |
|
|
0.034 |
|
|
|
Packing and forwarding |
|
|
0.184 |
|
|
|
Postal expenses |
|
|
0.026 |
|
|
|
Printing and stationery |
|
|
0.044 |
|
|
|
Rent |
|
|
0.216 |
|
|
|
Salaries |
|
|
1.208 |
|
|
|
Sales promotion |
|
|
0.052 |
|
|
|
Shop insurance |
|
|
0.006 |
|
|
|
Staff welfare |
|
|
0.044 |
|
|
|
Sweeper |
|
|
0.023 |
|
|
|
Telephone expenses |
|
|
0.027 |
|
|
|
Loading and unloading |
|
|
0.029 |
|
|
|
Water expenses |
|
|
0.022 |
|
|
|
TOTAL |
|
|
94.561 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE INTEREST,
DEPRECIATION AND AMORTISATION |
|
|
1.860 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
0.495 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE DEPRECIATION AND AMORTISATION |
|
|
1.365 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
|
|
0.130 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
1.235 |
|
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
||
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
90.54 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
4.03 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
80.06 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
1.01 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
2.52 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
||
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
|
|
0.84 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
0.83 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
4.58 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.17 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
3.76 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
||
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
|
1.35 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
4.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
27.83 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.33 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
1.24 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.16 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
0.83 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
1.33 |
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 |
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 |
No |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 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 |
UNSECURED LOANS
|
PARTICULARS |
|
31.03.2017 (INR
In Million) |
|
Deepak Chopra |
|
0.128 |
|
K T S Chits Private Limited |
|
0.382 |
|
Kushgar Kkaer |
|
0.030 |
|
Praveen Choudhary (HUF) |
|
0.100 |
|
|
|
|
|
Total |
|
0.640 |
OBSERVATION POINTS
|
Name of Company : |
HARI OM TRADING CO. |
||||||||
|
|
|
||||||||
|
Address : |
2222, Chah Indara, Bhagirath Palace, Delhi - 110006, India |
||||||||
|
Contact No.: |
91-11-23874032 |
||||||||
|
|
|
||||||||
|
Person to whom we met: |
Mr. Praveen Choudhary [Owner] |
||||||||
|
|
|
||||||||
|
Name Board : |
Sighted |
||||||||
|
|
|
||||||||
|
Location: |
Easy |
||||||||
|
|
|
||||||||
|
Landmark (If Any): |
Near Bhagirath Palace |
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|
|
|
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|
Total Floors of the Building : |
Ground + 1 Floor |
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|
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|
Subject situated on: |
Ground Floor |
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|
|
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|
Locality: |
Commercial |
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|
|
|
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|
Area of premises: |
150 Sq. Ft. |
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|
|
|
||||||||
|
Area : |
Upmarket |
||||||||
|
|
|
||||||||
|
No. of employees seen at premises: |
03 [Approx.] |
||||||||
|
|
|
||||||||
|
Visibility of
Items: |
·
Telex ·
Computers ·
Office Equipment |
||||||||
|
|
|
||||||||
|
Neighbours
Interview : |
|
||||||||
|
|
|
||||||||
|
Proof of visit: |
Photos and Visiting Card |
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 67.22 |
|
UK Pound |
1 |
INR 90.88 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
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 |
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.