MIRA
INFORM REPORT
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Report Date : |
13.04.2007 |
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
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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
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Registered Office : |
502, 4th Floor, Apex Mall, Lal
Kothi, Tonk Road, Jaipur 302 015, Rajasthan, India |
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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 Office : |
Bangalore Office: Ph : 91-80-5115-5656/57 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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Location : |
Rural – owned |
DIRECTORS
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Name : |
Mr. Sumeet Gupta |
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Designation : |
Managing Director
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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 |
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Experience : |
435 Devi Nagar,
Sodala, Jaipur 302 019, Rajasthan |
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Date of
Birth/Age : |
08/06/1977 |
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Date of
Appointment : |
13/04/2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
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Mr. Sumit Gupta |
2,702,460 |
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Ms. Vijaya Gupta |
1,000 |
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Mr. Amit Gupta |
92,000 |
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Ms. Devyani Gupta |
135 |
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Ms. Kanchan Kalro |
1 |
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Mr. T Damodar |
1 |
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Mr. Seth Pahlaj
Rai Tikamdas |
1 |
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Mr. Sanjay Kumar
Ramchand |
1 |
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Mr. PK Satish |
1 |
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Mr. Manak Bhai |
1 |
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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 |
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Mr. Mohan Lal
Kothari |
1 |
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Mr. Hari Ram
Amarchand |
1 |
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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 |
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Mr. S Govind |
1 |
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Mr. Prakash
Lachhimandas |
1 |
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Mr. T Lalchand |
1 |
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Mr. Rakesh Kumar
Moti Ram |
1 |
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Mr. Shyam Ji |
1 |
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Mr. G Suresh |
1 |
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Ms. Kanta |
1 |
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Mr. J Shyam Lal |
1 |
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Total |
2,795,638 |
BUSINESS DETAILS
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Line of Business : |
Manufacture,
Trader, Dealer and Exporter of
Granite, Marble, Slate, Sand Stone, Tiles, Slabs, etc. |
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Products : |
v Granite v Limestone v Marble v Mosaic v Polished Stone v Quartzite v Sandstone v Slabs v Slates v Tumbled Stones v Mahrani Green (Marble) v Lady Onyx (Onyx) v Autumn gold (Marble) v Brass Blue (Granite) v Vyara Original (Granite) v Golden Fantasy (Granite) |
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Exports : |
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Countries : |
USA |
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Terms : |
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Purchasing : |
On Letter of
Credit basis |
PRODUCTION STATUS
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Particulars |
Unit |
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Actual
Production In Millions |
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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 : |
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Name : |
JSM & Company Chartered
Accountants (Mr Jitendra
Agarwal, Partner, Membership No. 75339) |
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Address : |
“Shyam Apartment”, C-77 Sarojini Marg,
C-Scheme, Jaipur |
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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 |
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SHAREHOLDERS
FUNDS |
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1] Share Capital |
27.956 |
19.956 |
5.498 |
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2] Share
Application Money |
0.000 |
23.613 |
0.003 |
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3] Reserves &
Surplus |
329.345 |
111.620 |
10.796 |
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4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
357.301 |
155.189 |
16.297 |
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LOAN FUNDS |
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1] Secured Loans |
339.947 |
196.531 |
0.000 |
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2] Unsecured
Loans |
37.773 |
80.425 |
0.000 |
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TOTAL
BORROWING
|
377.720 |
276.956 |
0.000 |
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DEFERRED TAX
LIABILITIES |
19.271 |
5.269 |
0.000 |
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TOTAL
|
754.292 |
437.414 |
16.297 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
286.554 |
185.416 |
4.335 |
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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
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Inventories
|
85.204
|
69.518 |
0.000 |
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Sundry Debtors
|
373.931
|
203.300 |
0.000 |
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Cash & Bank Balances
|
42.271
|
18.426 |
0.754 |
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Other Current Assets
|
6.310
|
3.874 |
0.000 |
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Loans & Advances
|
29.033
|
20.309 |
0.050 |
Total Current Assets
|
536.749
|
315.427 |
0.804 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
|
94.414
|
65.350 |
0.047 |
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Provisions
|
0.138
|
0.844 |
0.000 |
Total Current Liabilities
|
94.552
|
66.194 |
0.047 |
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Net
Current Assets
|
442.237
|
249.233 |
0.757 |
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MISCELLANEOUS EXPENSES
|
0.408 |
0.459 |
0.448 |
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TOTAL
|
754.292 |
437.414 |
16.297 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
705.984 |
280.001 |
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Profit/(Loss) Before Tax |
|
120.417 |
36.831 |
|
Provision for Taxation |
|
14.140 |
6.113 |
|
Profit/(Loss) After Tax |
|
106.277 |
30.718 |
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Export Value |
|
673.174 |
242.911 |
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Import Value |
|
128.312 |
111.566 |
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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 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
17.06
|
13.15 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.63
|
7.53 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.24 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.32
|
2.21 |
-- |
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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 their materials with utmost care
They provide all options of finishes in stone
They mix containers per the 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 the 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.42.30 |
|
UK Pound |
1 |
Rs.84.11 |
|
Euro |
1 |
Rs.57.33 |
RATING EXPLANATIONS
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|