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MIRA INFORM REPORT
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Report No. : |
507440 |
|
Report Date : |
21.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
KAMLESH ELECTRICALS STORES |
|
|
|
|
Registered
Office : |
Opposite Budha Smriti Park, Chandani Chowk, Fraser Road, Patna –
800001, Bihar |
|
Mobile No.: |
91-9031071917 (Kaushal) |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2017 |
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Year of
Establishment: |
1998 |
|
|
|
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Capital Investment
/ Paid-up Capital : |
INR 13.693 Million |
|
|
|
|
TIN No.: |
Not Divulged |
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|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Dealer of
Home Appliances, Electrical Goods. [From Indirect Sources] |
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|
|
|
No. of Employees
: |
2 (Approximately) [At Site] |
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 30000 [In INR 2039550] |
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|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
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Litigation : |
Clear |
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Comments : |
Mr. Kaushal (Partner) only confirmed that the subject is a partnership concern. However as per indirect source we could find that the subject was established in the year 1998 and it is engaged as dealer of home appliances electrical goods. Further, as per financial figures of March 2017, the concern has achieved sales turnover of INR 157.60 million and has clocked a thin profit margin of 1.91% during the year. Rating takes into consideration, the satisfactory financial risk profile marked by adequate capital base and average debt protection metrics. Rating continues to derive strength from its long and established track record of its business operation backed by its considerable experience of the partners’. Payment seems to be usually correct. In view of aforesaid, the concern can be considered for business dealing at usual trade terms and conditions. Note: Site visit was conducted at the given address and our executive had successfully traced the subject. At the premise our executive met to one of the staff (Name and Designation not divulged) and he provided with contact number (#9031071917). As per our executive’s observation, it’s a ground+2 floor building and subject is situated on ground floor admeasuring total area of approximately 200 SQ.FT. Location was easy to find, locality seems to be commercial and area near the premise appears to be neutral. Landmark: Bhuda Smriti Park. Our executive sighted approximately 2 employees at the premise and also sighted the name board of the subject at the given premise address. On inquiry with Mr. Ram Kumar from “Mahavira Electric Co.” and one executive from “Havells” both the person from neighbour companies confirmed the existence of the subject on the 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
|
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 21.05.2018.
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 DENIED BY
|
Name : |
Mr. Kaushal |
|
Designation : |
Partner |
|
Contact No.: |
91-9031071917 |
|
Date : |
18.05.2018 |
LOCATIONS
|
Registered Office : |
Opposite Budha Smriti Park, Chandani Chowk, Fraser Road, Patna –
800001, Bihar, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9031071917 (Kaushal) |
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Fax No.: |
Not Available |
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E-Mail : |
|
|
Area : |
200 sq. ft. |
|
Locality : |
Commercial |
PARTNERS
|
Name : |
Mr. Kaushal |
|
Designation : |
Partner |
Note: Other Partner’s Name Not Divulged.
BUSINESS DETAILS
|
Line of Business : |
Dealer of
Home Appliances, Electrical Goods. [From Indirect Sources] |
|
|
|
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Products : |
|
|
|
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Brand Names : |
Not Divulged |
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Agencies Held : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
2 (Approximately) [At Site] |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
S.K. Prasad and Company Chartered Accountants |
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Membership No.: |
421621 |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern: |
Not Divulged |
CAPITAL STRUCTURE
As on 31.03.2017
|
Particular |
INR
In Million |
|
Partner’s Capital |
13.693 |
|
|
|
|
Total |
13.693 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
13.693 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
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4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
13.693 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
15.540 |
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|
2] Unsecured Loans |
|
|
8.076 |
|
|
TOTAL BORROWING |
|
|
23.616 |
|
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DEFERRED TAX LIABILITIES |
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|
0.000 |
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|
|
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|
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TOTAL |
|
|
37.309 |
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|
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|
|
|
|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
|
0.058 |
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|
Capital work-in-progress |
|
|
0.000 |
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|
|
|
|
|
|
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INVESTMENT |
|
|
3.188 |
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|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
9.333 |
|
|
Sundry Debtors |
|
|
36.508 |
|
|
Cash & Bank Balances |
|
|
1.152 |
|
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Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
3.782 |
|
Total
Current Assets |
|
|
50.775
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
16.700
|
|
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Other Current Liabilities |
|
|
0.012
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
16.712
|
|
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Net Current Assets |
|
|
34.063
|
|
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|
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|
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|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
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|
|
|
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TOTAL |
|
|
37.309 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
157.595 |
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Other Income |
|
|
0.143 |
|
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TOTAL |
|
|
157.738 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
151.509 |
|
|
Salary to Staff |
|
|
1.046 |
|
|
Shop Expenses |
|
|
0.026 |
|
|
Electrical Exp |
|
|
0.077 |
|
|
Telephone and Mobile
Expenses |
|
|
0.016 |
|
|
Professional Tax |
|
|
0.003 |
|
|
Freight Expenses |
|
|
0.015 |
|
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Printing and Stationary |
|
|
0.013 |
|
|
Postage and Stamp |
|
|
0.002 |
|
|
Miscelleneous Expenses |
|
|
0.023 |
|
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Rent |
|
|
0.167 |
|
|
Entry Tax Expenses |
|
|
0.152 |
|
|
Travelling and Conveyance |
|
|
0.025 |
|
|
Audit Fee |
|
|
0.012 |
|
|
Account Charges |
|
|
0.024 |
|
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Interest on Capital |
|
|
1.640 |
|
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Salary to Partners |
|
|
0.910 |
|
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TOTAL |
|
|
155.660 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
2.078 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
1.593 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
|
0.485 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
0.028 |
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
0.457 |
The above information has been taken from indirect sources.
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 / Income * 365 Days) |
|
|
84.55 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
|
4.32 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
|
40.23 |
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|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
|
0.22 |
|
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|
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|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
35.22 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
1.72 |
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Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
1.81 |
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|
|
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|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
0.00 |
|
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|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
1.30 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
|
|
0.29 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
0.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
3.34 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
2.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
|
1.67 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
1.72 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
2.05 |
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 – Legal Form |
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 |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 three years |
No |
|
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 LOAN
|
Unsecured Loan |
|
31.03.2017 (INR
in Million) |
|
From relatives and friend |
|
8.076 |
|
|
|
|
|
Total |
|
8.076 |
OBSERVATION FORM
|
COMPANY NAME: KAMLESH ELECTRICALS
STORE ADDRESS: Opposite Budha Smriti Park, Chandani Chowk, Fraser Road, Patna – 800001, Bihar, India CONTACT NO.: 91-9031071917 DESIGNATION: Staff (Name Not
Divulged)
o
Telephone o
Computer o
Air Conditioner o
Office Equipment
Name of company: Mahavir Electric Contact Person Name: Ramkumar Neighbour’s Overview: Subject company
exist on given address. Name of company: Havells Neighbour’s Overview: Subject company
exist on given address.
|
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 67.96 |
|
|
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
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.