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|
MIRA INFORM REPORT
|
Report No. : |
507411 |
|
Report Date : |
21.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
KIRANDEEP ELECTRICALS |
|
|
|
|
Registered
Office : |
Chandani Chowk, Electricals Market, Fraser Road, Patna – 800001, Bihar |
|
Mobile No.: |
91-9835804350 [Mr. Rahul Agarwal] |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Year of
Establishment : |
2013 [From Indirect Source] |
|
|
|
|
Capital
Investment : |
INR 5.985 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
Not Divulged |
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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 : |
Sole Proprietary Concern [From Indirect Source] |
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Line of Business
: |
Dealer and Supplier of Copper Pipes, Pipe Junction, Pipes Elbow,
Plastic Pipes and Steel Pipes and also Electrical Goods, etc. [From Indirect
Source] |
|
|
|
|
No. of Employees
: |
03 [Approximately] [As per site visit] |
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 but Correct |
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|
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Litigation : |
Clear |
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Comments : |
Mr. Rahul Agarwal (09835804350) has denied to disclose any information about the subject. As per indirect sources, we could find that the subject is a proprietorship concern established in the year 2013 and it is a dealer and supplier of copper pipes, pipe junction, pipes elbow, plastic pipes and steel pipes. As per available financials of March 2016, the subject has achieved a sales turnover of INR 94.66 and has reported average profit margin of 2.54%. Rating takes into consideration the subject’s sound capital base along with low solvency indicators and average liquidity position. Payments seems to be slow but correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. Note: Site visit was conducted on the given address which you have provided. Our executive has traced at the given address. At the premises, our executive met with one of the employee (Name Not Divulged) and he claimed that the subject exists on the given address. As per our executive’s observation, it is a ground + 3 storey building and subject is situated on ground floor. Area of the premises is 100 SQ FT and 3 employees were sighted at the premises. Location was easy to find and locality seems to be commercial. Area seems to be neutral. Landmark- Chandani Chowk. During the visit, our executive met with neighbour companies (K.K. Electricals Company and Great White Electricals) and they both claimed that the subject exists on the given address. Name board of the subject was 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
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 DECLINED BY
|
Name : |
Mr. Rahul Agarwal |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9835804350 |
|
Date : |
18.05.2018 |
LOCATIONS
|
Registered Office : |
Chandani Chowk ,Electricals Market, Fraser Road, Patna – 800001, Bihar,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9835804350 [Mr. Rahul Agarwal] 91-9334296640 [Mr. Parmananad Agarwal] |
|
Fax No.: |
Not Available |
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Area: |
100 Sq. Ft. [As per site visit] |
|
Locality: |
Commercial [As per site visit] |
SOLE PROPRIETOR
NOT DIVULGED
BUSINESS DETAILS
|
Line of Business : |
Dealer and Supplier of Copper Pipes, Pipe Junction, Pipes Elbow, Plastic
Pipes and Steel Pipes and also Electrical Goods, etc. [From Indirect Source] |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : [As per site visit] |
· Harvells · Philips · Bajaj · Anchor |
|
|
|
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Exports : |
Not Divulged |
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|
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Imports : |
Not Divulged |
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|
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Terms : [From Indirect Source] |
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Selling : |
Cash, Master Card, Visa Card and Debit/ Credit Cards |
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|
|
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Purchasing : |
Cash, Master Card, Visa Card and Debit/ Credit Cards |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
03 [Approximately] [As per site visit] |
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Bankers : |
|
|
|
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Auditors : |
Not Divulged |
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Name: |
Sanjay Kumar Jha and Associates Chartered Accountants |
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|
|
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 31.03.2016
|
Capital Investment : |
|
|
Owned : |
INR 5.985 Million |
|
Borrowed : |
-- |
|
Total : |
INR 5.985
Million |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2016 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
|
|
5.985 |
|
|
2] Reserves & Surplus |
|
|
0.000 |
|
|
NETWORTH |
|
|
5.985 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.723 |
|
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2] Unsecured Loans |
|
|
7.669 |
|
|
TOTAL BORROWING |
|
|
8.392 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
|
14.377 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
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|
|
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FIXED ASSETS [Net Block] |
|
|
1.151 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
|
|
19.422
|
|
|
Sundry Debtors |
|
|
4.821
|
|
|
Cash & Bank Balances |
|
|
0.227
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
1.838
|
|
Total
Current Assets |
|
|
26.308
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
10.726
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
2.356
|
|
Total
Current Liabilities |
|
|
13.082
|
|
|
Net Current Assets |
|
|
13.226
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
14.377 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
|
94.656 |
|
|
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Other Income |
|
|
5.528 |
|
|
|
TOTAL |
|
|
100.184 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
92.014 |
|
|
|
Coolle and cartage |
|
|
0.151 |
|
|
|
Salary and wages |
|
|
2.052 |
|
|
|
Printing and stationery |
|
|
0.032 |
|
|
|
Commission and brokerage |
|
|
0.957 |
|
|
|
Godown rent |
|
|
0.345 |
|
|
|
Office rent |
|
|
0.144 |
|
|
|
Freight our word |
|
|
0.194 |
|
|
|
Vehicle running expenses |
|
|
0.084 |
|
|
|
Mic. Expenses |
|
|
0.031 |
|
|
|
Packing Material |
|
|
0.138 |
|
|
|
Conveyance charges |
|
|
0.065 |
|
|
|
New paper and periodicals |
|
|
0.005 |
|
|
|
Repairs and maintenance |
|
|
0.087 |
|
|
|
Electricity charges and generator expenses |
|
|
0.096 |
|
|
|
Maintenance |
|
|
0.031 |
|
|
|
Selling expenses |
|
|
0.021 |
|
|
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Packing and courier charges |
|
|
0.010 |
|
|
|
Telephone and mobile charges |
|
|
0.057 |
|
|
|
Staff welfare |
|
|
0.145 |
|
|
|
Audit fee |
|
|
0.025 |
|
|
|
Consultancy charges |
|
|
0.018 |
|
|
|
Other charges |
|
|
0.018 |
|
|
|
TOTAL |
|
|
96.720 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE INTEREST AND DEPRECIATION AND AMORTISATION |
|
|
3.464 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
0.858 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE, DEPRECIATION AND AMORTISATION |
|
|
2.606 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
|
|
0.204 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/ (LOSS) |
|
|
2.402 |
|
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
18.59 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
19.63 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
|
42.55 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
0.18 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
3.01 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
|
|
0.78 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
1.40 |
|
|
|
|
|
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Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
3.47 |
|
|
|
|
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Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
4.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
|
2.54 |
|
|
|
|
|
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|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
8.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
40.13 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.27 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
0.33 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
0.22 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
1.40 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
1.27 |
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 |
No |
|
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 |
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 |
Yes |
|
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 of Company : |
KIRANDEEP ELECTRICAL'S |
|
|
|
|
Address : |
Chandani Chowk, Electricals Market, Fraser Road, Patna – 800001, Bihar,
India |
|
|
|
|
Person to whom we met: |
Employee [Name Refused] |
|
|
|
|
Name Board : |
Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark (If Any): |
Chandani Chowk |
|
|
|
|
Total Floors of the Building : |
3 Floors |
|
|
|
|
Subject situated on: |
Ground Floor |
|
|
|
|
Locality: |
Commercial |
|
|
|
|
Area of premises: |
100 Sq. Ft. |
|
|
|
|
Area : |
Neutral |
|
|
|
|
No. of employees
seen at premises: |
3 [Approx.] |
|
|
|
|
Visibility of
Items: |
·
Telephone ·
Computers ·
Air Conditioner ·
Office Equipment |
|
|
|
|
Neighbour’s
Interview: |
Our executive met with neighbour companies (K.K.
Electricals Company and Great White Electricals) and they both claimed that
the subject exists on the given address. |
|
|
|
|
Proof of visit: |
Photos |
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 : |
SHR |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
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.
·