MIRA
INFORM REPORT
|
Report Date : |
31.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ALUDECOR LAMINATIONS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
1 R N Mukherjee Road, 5th Floor, Room No.52, Kolkata –
700001, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
23.07.2004 |
|
|
|
|
Com. Reg. No.: |
21-99221 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27203WB2004PTC099221 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALA06799C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECA8253G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Textiles, Garments, Printing media and Polymer |
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 |
|
Maximum Credit Limit : |
USD 215868 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having satisfactory
track records. Directors are reported
as experienced and respectable businessman.
Trade relations are reported as fair.
Business is active. Payments
are reported as usually correct and as per commitments. The Company can be considered normal for business dealing at usual
trade terms and conditions |
LOCATIONS
|
Registered Office : |
1 R N Mukherjee Road, 5th Floor, Room No.52, Kolkata –
700001, West Bengal, India |
|
Email: |
|
|
|
|
|
Corporate Office : |
Aludecor House, 3E/8, Jhandewalan Extn. New Delhi 110055, India |
|
Tel. No.: |
91-11-4353-7777 |
|
Fax No.: |
91-11-4353-7799 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No. 95-96-97, Sector -5, IIE, Sidcul, Ranipur, Bhel, Haridwar
249403 |
|
Tel. No.: |
91-1334-239343 / 310050 |
|
Fax No.: |
91-1334-239342 |
|
E-Mail : |
|
|
|
|
|
Branches : |
·
Pune ·
Chennai ·
Noida |
DIRECTORS
|
Name : |
Mr. Ashok Kumar Bhaiya |
|
Designation : |
Director |
|
Address : |
1, Prince Gulam Mohammad Road, Lake Market, 3rd floor,
Kolkata 700026, West Bengal, India |
|
Date of Birth/Age : |
02.01.1955 |
|
Date of Appointment : |
10.02.2005 |
|
|
|
|
Name : |
Mr. Arun Kumar Bhaiya |
|
Designation : |
Director |
|
Address : |
AM/197, 2nd floor, Shalimar Bagh, New Delhi 110088, India |
|
Date of Birth/Age : |
09.04.1960 |
|
Date of Appointment : |
10.02.2005 |
|
|
|
|
Name : |
Mr. Nishant Kumar Gattani |
|
Designation : |
Director |
|
Address : |
AM 181, Shalimar Bagh, New Delhi 110088, India |
|
Date of Birth/Age : |
16.07.1977 |
|
Date of Appointment : |
23.07.2004 |
|
|
|
|
Name : |
Mr. Sunil Taparia |
|
Designation : |
Director |
|
Address : |
C/o. Mr. V. K. Lahoti AJ-47-A, Shalimar Bagh, New Delhi 110088, India |
|
Date of Birth/Age : |
08.10.1978 |
|
Date of Appointment : |
23.07.2004 |
|
|
|
|
Name : |
Mr. Vikash Maheshwari |
|
Designation : |
Director |
|
Address : |
26, P. K. Tagore Street, 3rd floor, Kolkata 700006, West
Bengal, India |
|
Date of Birth/Age : |
12.07.1979 |
|
Date of Appointment : |
23.07.2004 |
KEY EXECUTIVES
|
Name : |
Mr. Gautam Tibrewal |
|
Designation : |
Company Secretary |
|
Address : |
161, Chittaranjan Avenue, Kolkata – 700007 |
|
Tel No.: |
91-26726273 |
|
Mobile: |
91-9831256276 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Nishant Gattani |
|
15100 |
|
Sunil Taparia |
|
100 |
|
Vikash Maheshwari |
|
100 |
|
Bhaiya Fibres Limited |
|
100000 |
|
Silver Fibres Limited |
|
70000 |
|
Ashok Kumar Bhaiya |
|
59700 |
|
Arun Kumar Bhaiya |
|
50000 |
|
Keelee Kala Invest Private Limited |
|
10000 |
|
Lakhotia International Private Limited |
|
10000 |
|
Mid Est Vyapar Private Limited |
|
20000 |
|
Mayukh Construction Private Limited |
|
20000 |
|
Netscope Deal Communication Private Limited |
|
20000 |
|
Priya Nivesh Private limited |
|
20000 |
|
Peedee Finvest {Private] Limited |
|
16000 |
|
Remahay Stores [Private] Limited |
|
20000 |
|
|
|
|
|
Total |
|
431000 |
|
|
|
|
|
Equity Share
Break-up |
|
Percentage of
Holding |
|
Bodies corporate |
|
90.62 |
|
Directors or relatives of the Directors |
|
9.38 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Textiles, Garments, Printing media and Polymer |
|
|
|
|
Products : |
·
Protection Film ·
PVDF/Polyester Resin Based Coating ·
Primer Coating(Used In Case of PVDF
Only) ·
Aluminium Coil ·
Adhesive Film(Polyolefin) ·
Polyethylene Core(L.D.P.E.) ·
Adhesive Film(Polyolefin) ·
Aluminium Coil ·
Service Coating(Anti-corrosive) |
GENERAL
INFORMATION
|
Bankers : |
·
Tamilnad Mercantile Bank Limited 58-D, Netaji Subhash Road, 2nd floor, Kolkata 700001 ·
State Bank of India Commercial Branch, 8, N S. Road, Kolkata, West Bengal |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
R. Bhutra and Company Chartered Accountants |
|
Address : |
11 A. M. D. Road, 6th floor, Room No. 605, Kolkata 700007,
West Bengal, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1333000 |
Equity Shares |
Rs. 10/- each |
Rs.13.330
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
29.430 |
13.330 |
6.570 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24.537 |
23.528 |
14.480 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
[0.038] |
|
|
NETWORTH |
53.967 |
36.858 |
21.012 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
105.600 |
1.988 |
0.000 |
|
|
2] Unsecured Loans |
9.037 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
114.637 |
1.988 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.656 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
169.260 |
38.846 |
21.012 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
96.993 |
0.023 |
0.004 |
|
|
Capital work-in-progress |
0.000 |
23.300 |
4.763 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
102.510
|
0.000 |
0.000 |
|
|
Sundry Debtors |
19.129
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.521
|
0.638 |
0.317 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.682
|
17.333 |
18.355 |
|
Total
Current Assets |
130.842
|
17.971 |
18.672 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
58.556
|
2.828 |
2.635 |
|
|
Provisions |
0.370
|
0.084 |
0.000 |
|
Total
Current Liabilities |
58.926
|
2.912 |
2.635 |
|
|
Net Current Assets |
71.916
|
15.059 |
16.037 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.351 |
0.464 |
0.208 |
|
|
|
|
|
|
|
|
TOTAL |
169.260 |
38.846 |
21.012 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
165.437 |
N.A. |
N.A. |
|
|
Other Income |
0.000 |
N.A. |
N.A. |
|
|
Total Income |
165.437 |
N.A. |
N.A. |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
1.950 |
0.131 |
(0.038) |
|
|
Provision for Taxation |
0.941 |
0.085 |
0.000 |
|
|
Profit/(Loss) After Tax |
1.009 |
0.046 |
(0.038) |
|
|
|
|
|
|
|
|
Export Value |
N.A. |
N.A. |
N.A. |
|
|
|
|
|
|
|
|
Import Value |
N.A. |
N.A. |
N.A. |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
0.000 |
0.000 |
0.000 |
|
|
Depreciation & Amortization |
5.754 |
0.004 |
0.000 |
|
|
Other Expenditure |
151.979 |
0.000 |
0.000 |
|
Total Expenditure |
157.733 |
0.004 |
0.000 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.61
|
N.A. |
N.A. |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.18
|
N.A. |
N.A. |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.85
|
0.73 |
(0.20) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.00 |
(0.00) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.21
|
0.13 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.22
|
6.17 |
7.08 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
|
Corporate
identity number of the company |
U2703WD2004PTC099221 |
|
Name of the
company |
ALUDECOR
LAMINATIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
1 R. N. Mukherjee
Road, 5th floor, Suit 52, Kolkata 700001 |
|
This form is for |
Creation of
charge |
|
Type of charge |
Hypothecation |
|
Particular of
charge holder |
State Bank of
India Commercial
Branch, 8, N. S. Road, Kolkata 700001, West Bengal |
|
Nature of instrument
creating charge |
Agreement of
hypothecation of goods and assets read with letter regarding the grant of
individual limits within the overall limit |
|
Date of
instrument Creating the charge |
15.02.2000 |
|
Amount secured by
the charge |
Rs. 156.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Interest Cash Credit Rs.
48.500 Millions 11.75% p.a. Term Loan Rs.
70.000 Millions monthly rests Letter of Credit
RS. 38.000 Millions Margin 25% of raw
materials, Stock in process, Finished goods 40% of receivable
upto 90 days 15% of Letter of
Credit 100% of
preliminary Expenses/working capital margin Repayment Term loan of Rs.
70.000 Millions is repayable in 18 quarterly installments commencing from 31.12.2006
the first installments of Rs. 4.000 Millions and the remaining 15 instalments
of Rs. 4.400 Millions |
|
Description of
the property charged |
Stock in trade Book debts Plant and
machinery |
|
Particulars of
the property charged |
All the current assets,
present and future, including plant and machinery as per Appendix – IV and
Appendix V to the Agreement |
AS PER WEBSITE
DETAILS :
PROFIE :
Subject is an organization that is growing fast and aggressively since 2002.
It is a part of Bhaiya Fibres Limited Group known popularly as BFL, a
multi-billion unit with an impressive portfolio of manufacturing, marketing,
export and import of Textiles, Garments, Printing media and Polymers with a
turnover of 2000 Millions.
With a Head Office in Kolkata and Regional Office in New Delhi, Mumbai
and Bangalore and Branch Offices in Noida, Pune and Chennai Aludecor reaches a
huge customer base to help them in translating their dream building into
reality.
As the proverb goes, ‘great minds work together’ Aludecor has a team of
highly dedicated professionals working together towards fulfilling every
customer’s needs and requirements.
\
At Aludecor, they believe their strength lies in their products. Therefore,
a lot of research and innovation has gone into their current range that caters
to each and every need of today’s changing times. Currently, the Aludecor range
of ACPs has been divided into four broad categories, namely Select, Reach,
Masterwork and Firewall. They are used for Interiors and Exteriors in new
constructions and for even refurbishing the look of existing structures into an
urbane design.
Their Vision
Their Vision is to be the face of modern architecture that gets
motivation from all set standards, national or international, and dreams to
surpass them to be respected, globally!
Their Mission
With the will to deliver quality products and the means to carry it out,
their mission is to be a pioneer in ACP manufacturing, driven to understand its
customers and deliver at any cost with a strong sense of responsibility towards
its employees and the society at large. And in due time, Aludecor will surely
be the name that spells modern architecture in India.
BRANCHES
PUNE
Address: Plot No: 438/41, Ganraj Market, Market Yard, Room
No. 308, Pune – 411037
Tel: 91
20 24266452/9373137352
Mobile:91 9324272962.
Fax: +91
20 24267292
E-Mail: info@aludecor.com
Chennai
Address : 443, Mint Street, 4th
floor, Chennai 660079
Mobile : 91-9380002711
E-mail : info@aludecor.com
NOIDA
Address : B – 17, Sector 59, Noida
Mobile : 91-9310208705
Fax : 91-26860521
E-mail : info@aludecor.com
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. 39.44 |
|
UK Pound |
1 |
Rs. 78.73 |
|
Euro |
1 |
Rs. 57.69 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
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. |
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 |
|