MIRA
INFORM REPORT
|
Report Date : |
11.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
GLOBAL
MARKETING |
|
|
|
|
Registered Office : |
Plot
No.38, Building No.45, The Ichalkaranji Industrial Estate, shahu Putla Road,
Ichalkaranji -416115, Kolhapur, Maharashtra |
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Country : |
India |
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|
Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2001 |
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|
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Suppliers
of Textile based Dyes and Chemicals |
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
5000 |
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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 a well-established and reputed concern having satisfactory track.
Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
Plot
No.38, Building No.45, The Ichalkaranji Industrial Estate, shahu Putla Road,
Ichalkaranji -416115, Kolhapur, Maharashtra, India |
|
Tel. No.: |
91-230-2434062 |
|
Mobile No.: |
91-9422049234/
432 |
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E-Mail : |
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Area : |
3000
Sq.ft. |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr.
Damodar G. Jasu |
|
Designation : |
Proprietor |
|
Address : |
27/28,
Shraddha Colony, Near Mahesh Colony, Ichalkaranji, Kolhapur, Maharashtra,
India |
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Date of Birth/Age : |
38
years |
|
Qualification : |
B.Com. |
|
Experience : |
15
years |
KEY EXECUTIVES
|
Name
: |
Mr. G.
K. Jasu |
|
Designation
: |
Chief
Executive Officer |
|
Date
of Birth/Age : |
60
years |
|
Qualification
: |
H.S.C. |
|
Experience
: |
40
years |
BUSINESS DETAILS
|
Line of Business : |
Suppliers
of Textile based Dyes and Chemicals |
|
|
|
|
Products : |
Disperse
Dyes, Reactive Dyes/ Sulpher Dyes, Textile Auxiliaries |
|
|
|
|
Brand Names : |
Ø
Spectrum
Dyes and Chemicals Private Limited, Surat Ø
Mamta
Dye Chem, Mumbai Ø
SF
Dyes, Bangalore Ø
Zydex
Industries, Baroda |
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|
|
|
Agencies Held : |
Ø
Spectrum
Dyes and Chem Private Limited Ø
Zydex
Industries, Baroda Ø
SF
Dyes Private Limited, Bangalore |
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|
|
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Imports from : |
China |
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Terms : |
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Selling : |
Credit
(90 days) |
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|
|
|
Purchasing : |
Credit
(45 days) |
GENERAL
INFORMATION
|
No. of Employees : |
6 |
|
|
|
|
Bankers : |
Ø
Union
Bank of India, Main Branch, Ichalkaranji Ø
The
Vyebjateshwara Shakari Bank Limited, Ichalkaranji |
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Banking Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Ø
Tirupati
Dye Chem 38/45, Industrial Estate,
Ichalkaranji-416115, Kolhapur, Maharashtra, India Tel. No.: 91-230-2434062/ 3096123 Mobile No.: 91-9422049432 E-Mail : tirupatidyechem@hotmail.com Line of Business : Trading of Textile Dyes Ø
Tirupati
Industrial Corporation 38/45, Industrial Estate,
Ichalkaranji-416115, Kolhapur, Maharashtra, India Line of Business : Trading of Textile Dyes Ø
Tirupati
Agencies 38/45, Industrial Estate,
Ichalkaranji-416115, Kolhapur, Maharashtra, India Line of Business : Trading of Textile Dyes Ø
Manas
Audhyogik Rasayan 38/45, Industrial Estate,
Ichalkaranji-416115, Kolhapur,
Maharashtra, India Line of Business : Trading of Textile Dyes Ø
Mahatezaa
Marketing 38/45, Industrial Estate,
Ichalkaranji-416115, Kolhapur, Maharashtra, India Line of Business : Trading of Textile Dyes |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
0.281
millions |
|
Borrowed : |
-- |
|
Total : |
0.281
millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.281 |
0.329 |
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|
2] Share Application Money |
|
0.000 |
0.000 |
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|
3] Reserves & Surplus |
|
0.000 |
0.000 |
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|
4] (Accumulated Losses) |
|
0.000 |
0.043 |
|
|
NETWORTH |
|
0.281 |
0.603 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.179 |
0.231 |
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|
2] Unsecured Loans |
|
|
|
|
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TOTAL BORROWING |
|
0.179 |
0.231 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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|
|
|
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|
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TOTAL |
|
0.460 |
0.560 |
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APPLICATION OF FUNDS |
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|
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|
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|
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FIXED ASSETS [Net Block] |
|
0.048 |
0.021 |
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|
Capital work-in-progress |
|
0.000 |
0.000 |
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|
|
|
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INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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|
Inventories |
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Sundry Debtors |
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|
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|
Cash & Bank Balances |
|
0.494
|
|
|
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Other Current Assets |
|
|
2.050 |
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|
Loans & Advances |
|
|
|
|
|
Branch/ Divisions |
|
0.058
|
|
|
Total Current Assets |
|
0.552 |
2.050 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
1.468 |
|
|
Provisions |
|
|
|
|
Total Current Liabilities |
|
0.140 |
1.468 |
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|
Net Current Assets |
|
0.412 |
0.582 |
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|
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|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.460 |
0.603 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover [including other income] |
|
0.472 |
3.910 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
0.001 |
0.043 |
|
Provision
for Taxation |
|
0.000 |
0.000 |
|
Profit/(Loss)
After Tax |
|
0.001 |
0.043 |
|
|
|
|
|
|
Total
Expenditure |
|
0.471 |
0.541 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
0.21 |
0.01 |
|
|
|
|
|
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|
Net
Profit Margin (PBT/Sales) |
(%) |
|
0.21 |
0.01 |
|
|
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|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
0.17 |
2.08 |
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Return
on Investment (ROI) (PBT/Networth) |
|
|
0.00 |
0.07 |
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|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
1.13 |
2.82 |
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|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
3.94 |
1.40 |
LOCAL AGENCY
FURTHER INFORMATION
They act
as suppliers of Textile based Dyes and Chemicals. They are dealing within
Ichalkaranji and surrounding area for last 25 years. In future they are
planning for Distributorship of Atul Limited for Vat and Reactive Dyes.
They are
authorised Distributors of :
Ø
Spectrum
Dyes and Chemicals, Surat
Ø
Zydex
Industries, Baroda
Ø
SF
Dyes Private Limited, Bangalore
Trade References :
Mamta
Dye Chem, Mumbai
SHRI DAMODAR
GOPALKRISHNA JASU, ICHALKARANJI
Capital Account
(Rs. In millions)
|
Particulars |
31.03.2006 |
Particulars |
31.03.2006 |
|
Balance
b/f |
0.869 |
Personal
Drawings |
0.008 |
|
Income |
0.295 |
Personal
Drawings (GM) |
0.086 |
|
Dividend |
0.000 |
L.I.C.
Premium |
0.059 |
|
Refund
from Income Tax |
0.008 |
Expenses
Incurred |
0.025 |
|
Ganeshji
Account |
0.000 |
T.D.S. |
0.014 |
|
|
|
Balance
b/f |
0.980 |
|
Total |
1.172 |
Total |
1.172 |
Balance Sheet as on
31.03.2006
|
Particulars |
31.03.2006 |
Particulars |
31.03.2006 |
|
Capital
Account |
0.979 |
Tirupati
Dye Chem |
0.470 |
|
|
|
Slalasar
Enterprise |
0.196 |
|
|
|
Global
Marketing |
0.282 |
|
|
|
Investment
in shares |
0.022 |
|
|
|
T.D.S. |
0.008 |
|
|
|
U.B.I.
(Saving Account) |
0.001 |
|
Total |
0.979 |
Total |
0.979 |
TIRUPATI DYE CHEM
Profit and Loss
Account
|
Particulars |
31.03.2005 |
Particulars |
31.03.2005 |
|
Purchase
Accounts |
16.121 |
Sales
Accounts |
18.185 |
|
Direct
Expenses |
0.000 |
Indirect
Incomes |
0.478 |
|
Indirect
Expenses |
2.396 |
|
|
|
Net
Profit |
0.146 |
|
|
|
Total |
18.663 |
Total |
18.663 |
MAHATEZAA
MARKETING
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
Sales Turnover [including other income] |
|
|
1.016 |
|
|
|
|
|
|
Profit/Loss for the year |
|
|
0.166 |
|
|
|
|
|
|
Total Expenditure |
|
|
0.249 |
TIRUPATI INDUSTRIAL
CORPORATION
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
Sales Turnover [including other income] |
|
|
1.062 |
|
|
|
|
|
|
Profit/Loss for the year |
|
|
0.121 |
|
|
|
|
|
|
Total Expenditure |
|
|
0.941 |
MANAS AUDHYOGIK
RASAYAN
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
Sales Turnover [including other income] |
|
|
0.539 |
|
|
|
|
|
|
Profit/Loss for the year |
|
|
0.006 |
|
|
|
|
|
|
Total Expenditure |
|
|
0.198 |
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.44.61 |
|
UK
Pound |
1 |
Rs.86.80 |
|
Euro |
1 |
Rs.57.54 |
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 |
NO |
|
--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 |
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/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 |
|