MIRA INFORM REPORT
|
Report
Date : |
25.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
TAB INDIA GRANITES PRIVATE LIMITED |
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Registered
Office : |
502, 4th Floor, Apex
Mall, Lal Kothi, Tonk Road, Jaipur 302 015, Rajasthan |
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Country
: |
India |
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Financials
(as on) : |
31.03.2005 |
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Date
of Incorporation : |
14.08.2002 |
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Com.
Reg. No.: |
17-17765 |
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CIN
No.: [Company
Identification No.] |
U14101RJ2002PTC017765 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
CHET09586D |
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PAN
No.: [Permanent
Account No.] |
AABCT7634B |
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Legal
Form : |
Private Limited Liability Company |
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Line of
Business : |
Manufacture, Trader, Dealer and Exporter of Granite, Marble, Slate, Sand Stone, Tiles, Slabs,
etc. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum
Credit Limit : |
USD
1250000 |
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Status
: |
Satisfactory
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
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Comments
: |
Subject is now an established company and doing good
business. Directors are reported a experienced and respectable. Trade
relations are fair. Business is active. Payments are usually correct and as
per commitments. The company can be considered normal for business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered/Corporate/Head
Office : |
502, 4th Floor, Apex
Mall, Lal Kothi, Tonk Road, Jaipur 302 015, Rajasthan, India |
|
Tel.
No.: |
91-141-2744200, 2744300 |
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Fax
No.: |
91-141-2744500 |
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E-Mail
: |
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Website
: |
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Location : |
Commercial
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Head/Corporate
Office : |
Bangalore Office: Ph : 91-080-5115-5656/57 North Zone Office : 502, Apex Mall, Tonk Road, Jaipur – 302015, India Tel. No. : 91-141-2744200 / 2744300 Fax No. : 91-141-2744500 E-mail : info@tabindia.com |
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Sales & Marketing Offices and Warehouses , U.S.A |
AMSUM & ASH, INC. Los
Angeles: |
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South Zone Office and Granite Processing Plant |
N.H. 7,
Nallaganakothapally Village, Krishnagiri Road, Koneripalli, P. O., Hosur
Taluk, Tamil Nadu – 635 117 |
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Tel. No.: |
91-4344-309314, 309313, 257400, 257405 |
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Fax
No.: |
91-4344-257461 |
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E-mail : |
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Website
: |
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|
Location : |
Rural –
owned |
DIRECTORS
|
Name : |
Mr. Sumeet Gupta |
|
Designation
: |
Managing Director |
|
Address
: |
54, 55, 56 Taruchya Nagar, Jaipur, Rajasthan |
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Date
of Birth/Age : |
17/08/1975 |
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Date
of Appointment : |
14/08/2002 |
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Name : |
Mr. Vijaya Gupta |
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Designation
: |
Director |
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Address
: |
54, 55, 56 Taruchya Nagar, Jaipur, Rajasthan |
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Date
of Birth/Age : |
03/12/1952 |
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Date
of Appointment : |
14/08/2002 |
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Name : |
Ms. Devyani Gupta |
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Designation
: |
Director |
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Address
: |
54, 55, 56 Taruchya Nagar, Jaipur, Rajasthan |
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Date
of Birth/Age : |
18/07/1976 |
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Date
of Appointment : |
29/03/2005 |
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Name : |
Mr. Ashok Kumar Gupta |
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Designation
: |
Director |
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Experience
: |
54, 55, 56 Taruchya Nagar, Jaipur, Rajasthan |
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Date
of Birth/Age : |
17/06/1946 |
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Date
of Appointment : |
17/06/2003 |
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Name : |
Mr. Amit
Amar |
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Designation
: |
Company
Secretary |
|
Experience
: |
435 Devi
Nagar, Sodala, Jaipur 302 019, Rajasthan |
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Date
of Birth/Age : |
08/06/1977 |
|
Date of
Appointment : |
13/04/2005 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr. Sumit
Gupta |
2,702,460 |
|
Ms.
Vijaya Gupta |
1,000 |
|
Mr. Amit
Gupta |
92,000 |
|
Ms.
Devyani Gupta |
135 |
|
Ms.
Kanchan Kalro |
1 |
|
Mr. T
Damodar |
1 |
|
Mr. Seth
Pahlaj Rai Tikamdas |
1 |
|
Mr.
Sanjay Kumar Ramchand |
1 |
|
Mr. PK
Satish |
1 |
|
Mr. Manak
Bhai |
1 |
|
Mr.
Jayanti Lal |
1 |
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Mr. Dilip
R Parekh |
1 |
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Mr.
Ramesh Kumar |
1 |
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Mr.
Narain Das Manwani |
1 |
|
Mr. Mohan
Lal Kothari |
1 |
|
Mr. Hari
Ram Amarchand |
1 |
|
Ms.
Anupama Satram |
1 |
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Mr.
Jayesh Kothari |
1 |
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Ms.
Kashish D Bhatia |
1 |
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Mr.
Mohinder Goel |
1 |
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Mr.
Narayan T Nagpal |
1 |
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Mr.
Narain Das Bodaram |
1 |
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M/s.
Janak Credit & Leasing Private Limited |
1 |
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Ms.
Sunithija Bathija |
1 |
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Ms.
Lakshmi Chand |
1 |
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Mr. L
Sanjay |
1 |
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Ms. Kajol
Shroff |
1 |
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Mr.
Prakash B Talreja |
1 |
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Ms. Madhu
Motiram |
1 |
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Mr. Raj
Kumar Gokhlani |
1 |
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Ms. Veena
Kothari |
1 |
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Ms.
Chandrabai |
1 |
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Mr.
Aashish Chhabria |
1 |
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Ms.
Ramachand |
1 |
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Ms.
Rekhaa |
1 |
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Mr.
Chandra Shekaraiah |
1 |
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Ms. C
Mamatha |
1 |
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Ms.
Gajrabai |
1 |
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Mr. Gopal
Das |
1 |
|
Mr. S
Govind |
1 |
|
Mr.
Prakash Lachhimandas |
1 |
|
Mr. T
Lalchand |
1 |
|
Mr.
Rakesh Kumar Moti Ram |
1 |
|
Mr. Shyam
Ji |
1 |
|
Mr. G
Suresh |
1 |
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Ms. Kanta |
1 |
|
Mr. J
Shyam Lal |
1 |
|
Total |
2,795,638 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacture, Trader, Dealer and Exporter of Granite, Marble, Slate, Sand Stone, Tiles, Slabs,
etc. |
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Product
: |
·
Granite ·
Limestone ·
Marble ·
Mosaic ·
Polished
Stone ·
Quartzite
·
Sandstone ·
Slabs ·
Slates ·
Tumbled
Stones ·
Mahrani
Green (Marble) ·
Lady
Onyx (Onyx) ·
Autumn
gold (Marble) ·
Brass
Blue (Granite) ·
Vyara
Original (Granite) ·
Golden
Fantasy (Granite) |
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Export
to : |
USA |
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Terms
: |
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Purchasing : |
On Letter
of Credit basis |
PRODUCTION
STATUS
|
Particulars |
Unit |
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Actual Production In Millions |
|
Granites & Marble Slabs &
Tiles |
Sq. ft. |
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|
192851.1965 |
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Scrap & Wastage |
Sq. Ft. |
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|
3246.2164 |
GENERAL INFORMATION
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Bankers
: |
Bank of Baroda, International
Business Branch, Ahinsa Circle, C-Scheme, Jaipur 302 001 |
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Facilities : |
Cash Credit: Rs. 594.2 millions
from Bank of Baroda as per Hypothecation agreement dated 25.09.2006. First charge by way of hypothecation of
all stock of raw materials, stock in process, semi finished & finished goods,
stock in transit, packing material, consumable stores and spares, all present
& future book debts, outstanding monies, receivables, claims, bills and
all present & future movable plant & machinery and all other current
and fixed assets of the Company. It is further secured by equitable
mortgage extended on land & buildings of the subject company situated at
Survey No. 224/10, 224/11, Addagurukki Village of Hosur Taluk attached to
Shoolagiri, Sub Registration District & Krishnagiri Registration District
of Krishnagiri District. Survey No.
72/1A, 70/17, 75/2, 70/13, 70/15, 75/1, 70/5, 70/6, 70/14, 70/16 at Nallagana
Kothapalli Village of Hosur Talk attached to Shoolagiri, Sub Registration
District & Krishnagiri, Registration District of Krishnagiri District.
The particulars of facilities are given below
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Banking Relations : |
Satisfactory
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Auditors
: |
JSM &
Company Chartered
Accountants (Mr
Jitendra Agarwal, Partner, Membership No. 75339) “Shyam Apartment”,
C-77 Sarojini Marg, C-Scheme, Jaipur |
|
Tel.
No.: |
91-141-2374815, 2365549 |
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Fax
No.: |
91-141-2374815, 2365549 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
3,000,000 |
Equity
Shares |
Rs.10/- each |
Rs. 30.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
2,795,638 |
Equity
Shares |
Rs.10/- each |
Rs. 27.956 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS
FUNDS |
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|
|
|
|
1] Share
Capital |
27.956 |
19.956 |
5.498 |
|
|
2] Share
Application Money |
0.000 |
23.613 |
0.003 |
|
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3]
Reserves & Surplus |
329.345 |
111.620 |
10.796 |
|
|
4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
357.301 |
155.189 |
16.297 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
339.947 |
196.531 |
0.000 |
|
|
2]
Unsecured Loans |
37.773 |
80.425 |
0.000 |
|
TOTAL
BORROWING
|
377.720 |
276.956 |
0.000 |
|
|
DEFERRED
TAX LIABILITIES |
19.271 |
5.269 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
754.292 |
437.414 |
16.297 |
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|
|
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APPLICATION OF FUNDS
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block]
|
286.554 |
185.416 |
4.335 |
|
Capital work-in-progress
|
25.088 |
2.301 |
10.757 |
|
|
|
|
|
|
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INVESTMENT
|
0.005 |
0.005 |
0.000 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
85.204
|
69.518 |
0.000 |
|
|
Sundry Debtors
|
373.931
|
203.300 |
0.000 |
|
|
Cash & Bank Balances
|
42.271
|
18.426 |
0.754 |
|
|
Other Current Assets
|
6.310
|
3.874 |
0.000 |
|
|
Loans & Advances
|
29.033
|
20.309 |
0.050 |
Total Current Assets
|
536.749
|
315.427 |
0.804 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
94.414
|
65.350 |
0.047 |
|
|
Provisions
|
0.138
|
0.844 |
0.000 |
Total Current Liabilities
|
94.552
|
66.194 |
0.047 |
|
Net
Current Assets
|
442.237
|
249.233 |
0.757 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.408 |
0.459 |
0.448 |
|
|
|
|
|
|
|
TOTAL
|
754.292 |
437.414 |
16.297 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales
Turnover [including other income] |
|
705.984 |
280.001 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
120.417 |
36.831 |
|
Provision for Taxation |
|
14.140 |
6.113 |
|
Profit/(Loss) After Tax |
|
106.277 |
30.718 |
|
|
|
|
|
|
Export Value |
|
673.174 |
242.911 |
|
|
|
|
|
|
Import Value |
|
128.312 |
111.566 |
|
|
|
|
|
|
Total Expenditure |
|
544.448 |
234.628 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT /
Total Income |
(%) |
15.05
|
10.97 |
-- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.06
|
13.15 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.63
|
7.53 |
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.24 |
-- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.32
|
2.21 |
-- |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.68
|
4.77 |
17.11 |
LOCAL AGENCY FURTHER INFORMATION
The
subject has shifted their Registered Office from S-205, Sangam Tower, Second Floor,
Church Road, Jaipur 302 001, Rajasthan, India to the above mentioned address
with effect from May 26, 2006
Incorporated on August 14, 2002 the
subject is engaged in the business of Manufacturing and Exporting Polished
Marble, Granite, Slate & Sand Stone, Slabs & Tiles
The production capacity of the
subject company was enhanced during the financial year 2004-05 to meet the
increasing demands of Granite Slabs & Tiles in US market. The subject is concentrating on export of
polished Granite Slabs & tiles in USA and received good orders.
Subject imports Abrasive, Blades, Segments & Saw Resin
Bond and Hardener Steel Grit.
As per Website Details :
Profile :
Tab India has always stood out for its progressive
achievements in stone markets all over the world; its benchmark being constant
activity towards efficiency and punctuality on the delivery of materials,
continuous updating of its processing technology, and its constant search for
new products. Headquartered in Jaipur, India, Tab India has been recognized as
the largest manufacturer from India, in Granite , Marble, Slate, Quartzite,
Sandstone and Limestone. It produces several variations of tiles, slabs, cut to
size, and mosaics. Service, quality, integrity and excellence in all respects
have been the driving force for all related to the organization.
They
manufacture world class products
They package our materials with utmost care
They provide all options of finishes in stone
They mix containers per your requirements
They carry backup inventory in two U.S. locations
They handle everything from order to delivery
They are Tab India and Amsum & Ash
Factory/Equipments
TAB INDIA OPENS A NEW GRANITE PROCESSING PLANT
IN NOV 2003!
TAB India is the largest stone company from India with
corporate headquarters in Jaipur, India. They produce Marble,
Granite,
Slate, Quartzite,
Limestone
and Sandstone
in tiles, slabs and cut to size. Polished, honed, brushed, flamed, sandblasted
are some of the finishes while they have a large collection of mosaics and some
unique exclusive colors. Their processing facilities are located all over India
with two main hubs for shipping purposes – Jaipur and Banglore. With over 300
various stones that they produce, they have divided the process of
manufacturing into various steps to minimize costs and maximize efficiency.
Many of their factories are located at the quarry itself where the raw material
is sorted and cut into various sizes and the finishing touches may be given at
the main processing plant. A combination of very efficient Managers, Dedicated
Staff The Best In The Industry, Technical Knowledge And Commitment To Not Just
Prices And Quality, But Timing Make Us An Irreplaceable Option.
The
Following Machines Are Used By The Company:
Granite Tiles
– Pedrini S.P.A Italy, Tile Line.
Granite Slabs – Breton & Gaspari Menotti Jumbo Gangsaws, Breton &
Gaspari – 20 Head Line Poilishers.
Marble Tiles - Pedrini S.P.A Italy, Tile Line.
Marble Slabs – Giorgini Maggi Gangsaw & Breton Bridge Polisher.
Slate, Sandstone, Limestone & Quartzite – Cal-Ii By M/S M.L Shah Machinery
Limited Of Mumbai For Gauging As Well As Polishing Line From Them.
TAB India Inc. is truly a complete “Indian” stone company,
since they supply almost all the export worthy natural stones from India. Their
range offers a multitude of stone materials to their clients worldwide, be it
Granite, Marble, Slate, Sandstone, Limestone, or Quartzite. They cover it all.
Company’s strength to meet deadlines is also supported by
the Company’s own fleet of trucks and open body trailors, which transport raw
material to packaged crates from one point to another, without any
complications.
Known for their packing standards, TAB India Inc. uses one
of the best packing materials from the most reputed companies in India. Their
average cost of packaging is approximately 30-40% higher than anyone in the
trade, and it shows. Their pallets use the best wood, and are strong enough to
be stacked up to 5 units high. They are treated and fumigated against pests,
termites, or any other infestations.
All the containers are braced/lashed properly. Pictures are
taken of each container for as a safeguard against any mis-happenings. TAB
India Inc. guarantees against any breakage or broken pieces, a guarantee that
they stand by or they will replace the entire order.
Their Projects
Tab India Inc./ Amsum & Ash Inc. has a large presence in
the U.S. construction industry providing natural stone material for hundreds of
projects per year. In the last two years, their company has averaged over 50
cut-to-size projects in 2000 and 2001. They specialize in Commercial office
buildings, Hotels, College campuses, Stadiums, Airport facilities, Medical
Facilities, Residential projects, etc. Amsum & Ash Inc., the U.S. sales and
marketing office, provides support in the form of digital photo libraries,
sample boards, sample kits, ASTM data, etc… to educate consumers of their
remarkable products. They have the capacity to produce 200,000 ft2-1,000,000
ft2 of material per month, depending upon the material. A project of any size
is manageable. Shipping over 1200 containers of material per year, they utilize
the world’s largest shipping company- American President Lines for timely
shipments. Tab India Inc./ Amsum & Ash Inc. prides itself on providing
timely, comprehensive and quality service. This has been the key to their
success.
Office
To serve a network of 300+ distributors and
their ongoing projects in USA & Canada, they have 3 factory warehouses for
back up inventory & support. All logistics paperwork, documentation,
containers clearance, and delivery are handled through their US sales offices.
They have an inflow of about 100 containers a month, which can take care of any
contingencies that may arise. Over 2 million sq. ft. of inventory is kept at
its US locations of all its product lines in various sizes and finishes. This
gives Tab India a unique edge over any other factory in the world possibly and
gives its clients the service they deserve.
News
CAPEXIL (CHEMICALS & ALLIED PRODUCTS EXPORT PROMOTION
COUNCIL), under the department of Government of India, has awarded TAB
INDIA/AMSUM & ASH, with the most prestigious award from India in their
Industry & category. Since 1996 and the 5th year in a row, they have been
deemed ‘Exporter of the Year’, ‘Largest Granite Manufacturer of the Year, ‘Best
Export Performance’ – by various Organizations. This is the best possible
recognition any organization in India can receive in this industry.
QUALITY - guaranteed, TIMELINESS – under their
control & SERVICE – their broad client base is testimony to their success.
They will cater to your needs and dealing directly with the factory allows for
unbeatable pricing and cost effective engineering among other factors.
Spotlight ( New Products )
As the leading manufacturer of natural stone
products from India, they constantly look for new materials and new finishes on
existing materials. The products featured in this section may be exclusive
products of Tab India Inc./ Amsum & Ash Inc.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.87 |
|
UK Pound |
1 |
Rs.85.99 |
|
Euro |
1 |
Rs.58.15 |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital.
No caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base
are regarded healthy. General unfavourable factors will not cause fatal
effect. Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment
of interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |