MIRA
INFORM REPORT
|
Report Date : |
01.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
H. B. GUM INDUSTRIES PIRVATE LIMITED |
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Registered Office : |
86, New Commercial Co- operative Society, |
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Country : |
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Date of Incorporation : |
26.02.1980 |
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Com. Reg. No.: |
022260 |
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CIN No.: [Company
Identification No.] |
U15100MH1980GAT022260 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH07115D |
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PAN No.: [Permanent
Account No.] |
AAACH6988B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and exporters of Guar Gum and
various types of other products which find application in the sectors like
food, printing, explosives and paints |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
-- |
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Comments : |
Subject is a well
established and reputed company having satisfactory track. Directors are reported as experienced,
respectable and having satisfactory means of their own. Their trade relations are reported as
fair. Payments are reported as slow
but correct. The company can
be considered normal for business dealings at usual trade terms and
conditions. No clean credit
can be granted. |
LOCATIONS
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Registered Office : |
86, New Commercial Co- operative Society, |
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Tel. No.: |
91-2764-220053/223198/ 22- |
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Fax No.: |
91-2764-220057 |
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E-Mail : |
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Factory 1 : |
GIDC, Plot No.
11, Kalol, |
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Tel. No.: |
91-2764-20053 |
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Fax No.: |
91-2764-20057 |
DIRECTORS
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Name : |
Mr. Shah Kanaiyalal Devidas |
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Designation : |
Director |
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Address : |
Block B/27, Peerbhoy Mansion, 1st Floor, 460, S.V.P. Road,
Opposite Marwadi Vidhyalay Prathana Samaj, Mumbai - 400004 |
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Date of Birth/Age : |
22.11.1937 |
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Date of Appointment : |
26.02.1980 |
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Name : |
Mr. Shah Bipinchandra Devidas |
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Designation : |
Director |
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Address : |
28, New Buildings, Block No.5, Jitekarwadi, Takurdwar, Mumbai - 400002 |
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Date of Birth/Age : |
20.03.1943 |
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Date of Appointment : |
06.05.1981 |
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Name : |
Mr. Shah Kiritkumar Navinchandra |
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Designation : |
Director |
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Address : |
Vidhani Cottage CHS limited, Flat No. 37, 3rd Floor, 244, |
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Date of Birth/Age : |
14.02.1954 |
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Date of Appointment : |
06.05.1981 |
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Name : |
Mr. Shah Kirankumar Chandulal |
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Designation : |
Director |
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Address : |
76, Maniyar A-1, |
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Date of Birth/Age : |
12.04.1951 |
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Date of Appointment : |
26.02.1980 |
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Name : |
Mr. Shah Harishadkumar Devidas |
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Designation : |
Director |
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Address : |
2 A, New Building, Block No. 10, Jitekarwadi, Thakurdwar,
Mumbai-400002 |
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Date of Birth/Age : |
11.04.1954 |
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Date of Appointment : |
06.12.1998 |
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Name: |
Mr. Rajesh Kumar Navinchandra |
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Designation: |
Director |
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Adress: |
5/29, Shreeniketan, Chowpatty Band Stand, Mumbai400006 |
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Date of Birth/Age: |
18.10.1963 |
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Date of Appointment: |
18.05.2004 |
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Name: |
Mr. Shah Jayesh Vinodchandra |
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Designation: |
Director |
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Adress: |
A/30, |
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Date of Birth/Age: |
03.01.1968 |
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Date of Appointment: |
18.05.2004 |
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Name: |
Mr. Shah Deepak kumar Bipinchandra |
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Designation: |
Director |
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Adress: |
2 A, New Building, Block No. 10, Jitekarwadi, Thakurdwar, Mumbai-400002 |
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Date of Birth/Age: |
18.12.1970 |
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Date of Appointment: |
18.05.2004 |
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Mobile No.: |
91-9327008827 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
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Shah Kanaiyalal Devidas |
1050 |
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Shah Kirankumar Chandulal |
1209 |
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Arvindaben D.
Shah |
1250 |
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Shah Bipinchandra Devidas |
1125 |
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Shah Rameshchandra Chandulal |
536 |
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Shah Harshadkumar Devidas |
1125 |
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Shah Pankajkumar Devidas |
525 |
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Shah Kiritkumar Navinchandra |
1750 |
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Shah Kaushikkumar Navinchandra |
1750 |
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Shah Vinaykumar Kanaiyalal |
440 |
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Shah Kaliashben Kanaiyalal |
260 |
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Shah Manjulaben Sureschandra |
1150 |
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Shah Surekaben Bipinchandra |
275 |
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Shah Nainaben Harshadkumar |
275 |
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Shah Maltiben Pankajkumar |
225 |
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Shah Sushilaben Vinodchandra |
1555 |
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Shah Dakshaben Kirankumar |
700 |
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Shah Amritaben Kiritkumar |
500 |
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Shah Shakuntalaben Rameshchandra |
300 |
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Shah Rajeshkumar Navinchandra |
2250 |
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Shah Shailaben kaushikkumar |
500 |
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Hathibhai Bulakhidas Private Limited |
11 |
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Shah Jayesh Vinodchandra |
700 |
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Shah Deepak Bipinchandra |
125 |
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Shah Amit Bipinchandra |
125 |
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Shah Jay Harshadkumar |
300 |
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Total |
20011 |
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Equity Share Capital Breakup
|
Category |
Percentage of Holdings |
|
Bodies Corporate |
0.05 |
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Directors/ Relatives of Directors |
99.95 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and exporters of Guar Gum and various types of other
products which find application in the sectors like food, printing,
explosives and paints |
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Products : |
·
Goma Gum ·
Printing Gum ·
Explosive Guar Gum, ·
Galactomannan Gum ·
Food Additives ·
Food Ingredients ·
Paper Gum ·
Gelling Agent ·
Thickeners ·
Psynopsis tetna Genalobus, |
GENERAL INFORMATION
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No. of Employees : |
8 |
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Bankers : |
Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
R. Chaturvedi
& Associates Chartered
Accountants |
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Memberships : |
APEDA, ATIRA, Export House |
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Associates/Subsidiaries : |
Ř
Hathibhai
Bulakhidas Private Limited 86, Tel. No. 91-22-373 8016 / 375 2136 / 37 Fax No. 91-22-373 8238 / 379 0505 E Mail : hbgum.shah@gems.vsnl.net.in - Manufacturer,
exporter and commission agent. Ř
H. B.
Investment & Trading Company Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22000 |
Equity Shares |
Rs 100/- each |
Rs. 2.200 Millions |
|
2000 |
Preference Shares |
Rs 100/- each |
Rs. 0.200 Millions |
|
1000 |
Un-classified Shares |
Rs 100/- each |
Rs. 0.100 Millions |
|
25000 |
Total |
|
Rs. 2.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20011 |
Equity Shares |
Rs 100/- each |
Rs. 2.001 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Mr. Deepak Shah,
Director of the company assured to provide up-dated details and as soon he provides,
we shall supplement the same.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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|
31.03.1999 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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|
2.001 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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33.900 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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|
35.901 |
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LOAN FUNDS |
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1] Secured Loans |
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15.456 |
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2] Unsecured Loans |
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|
2.366 |
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TOTAL BORROWING |
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17.822 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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53.723 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.345 |
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Capital work-in-progress |
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|
0.000 |
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INVESTMENT |
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|
0.200 |
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DEFERREX TAX ASSETS |
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|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
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Other Current Assets |
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Loans & Advances |
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48.178 |
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Total
Current Assets |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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Total
Current Liabilities |
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Net Current Assets |
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48.178 |
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MISCELLANEOUS EXPENSES |
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|
0.000 |
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TOTAL |
|
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53.723 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.1999 |
|
|
Sales Turnover |
|
|
286.222 |
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Other Income |
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|
0.000 |
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Total Income |
|
|
286.222 |
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Profit/(Loss) Before Tax |
|
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26.229 |
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Provision for Taxation |
|
|
0.749 |
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Profit/(Loss) After Tax |
|
|
25.480 |
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Expenditures : |
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Salaries & wages
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|
3.564 |
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Rent & royalty
|
|
|
2.185 |
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Other expenses
|
|
|
254.244 |
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Total Expenditure |
|
|
259.993 |
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KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.1999 |
|
PAT / Total Income |
(%) |
|
|
8.9 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
|
9.16 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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48.82 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.73 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
0.0 |
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Current Ratio (Current Asset/Current Liability) |
|
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|
0.0 |
LOCAL AGENCY FURTHER INFORMATION
Company Profile:
About Them
Subject is a leading and one of the most recognized
manufacturers and exporters of Guar Gum and various types of other products
which find application in the sectors like food, printing, explosives and
paints. Guar gum, a white to creamy colored, free flowing powder, is one of the
highly efficient water thickening agent manufactured as per the requirement to
suit the individual industry specifications. The reason behind their grand
reputation in the domestic as well international market is that they have
maintained a regular laboratory collaboration with Guar Gum manufacturers of
international repute.
Properties
The properties that make Guar Gum essential in a wide variety of applications
are:
- Easy solubility in cold and hot water
- Fine film forming property
- Resistance to oils, greases and solvents
- Better thickening action
- Physiologically inert nature
- Non-ionic, an-ionic or cationic
character
- Water binding by Hydrogen Bonding
Application
The purified grade of Guar gum is used in the following industries:
- Pharmaceuticals
- Cosmetics
- Food
- Textile
- Paper
- Oil Well Drilling
Guar
Gum is also used in making of Insecticides and Pesticides, Detergent and Soaps,
Paint, Electrode & Brazing Fluxes, Plywood, Leather, Foundry, Tobacco
Processing, Pencils and Crayons, Adhesives, etc.
Quality
They take the following quality control measures to assure the production of
hundred percent pure Gum:
- Round the clock quality control checks
by qualified laboratory staff
- At every half an htheir, processed
material from the plant is tested by lab chemist who instructs plant
efficiency to the plant supervisor
- All analysis reports are computerized
so as to get quality feedback and quality assurance to buyers abroad
- 100 percent quality assurance as
incoming raw materials are also tested for specifications
- Guaranteed supply within contacted
period
Infrastructure
The plants and equipments at their production house are all designed and
fabricated by experts, skilled and trained personnels who are masters in
operating fully automatic operations.
Packaging
Great importance is given to the packaging of the products so as to avoid
any kind of damage while transportation. Before the products are packed, the
paper bags are tested for their strength capacity. The products are packed by
automatic bag packer without hand touch, in six ply paper bags. All shipments
are made in containers which are cleaned and fully fumigated before and after
stuffing at the warehouse by a specially trained staff.
|
Name of the company |
H. B. GUM INDUSTRIES PIRVATE LIMITED |
|
Presented By |
Senior Manager,
Bank of |
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1) Date and description of instrument creating the change |
Hypothecation of Moveable Machinery dated 7th day of
October 1991 xacted by H. B. GUM INDUSTRIES PIRVATE LIMITED in favour of
BANK OF BAORDA, KALOL. No. instrument was executed, but on the 7th
day of October 1991 the company created an Equitable Mortgage in favour of
BANK OF BARODA by release and redeposite of title Deeds relating to the
companies immovable property altuate at Plot no. 11/B, GIDC, Industrial
Estate, Kalol and Bank of Baroda with intent to create a security thereon and
by way of an equitable Mortgage pursuant to the resolution passed by theboard
of directors of the company on 5th day of Septemeber 1991 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.111
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All the company’s
moveable machineries including steeks and spares parts both present and
future installed and to be installed at plot no.11/B, GIDC, Industrial
Estate, Kalol. All the company’s
lease hold land and other immovable properties situate at Kalol Boaring Plot
no.11/B, Kalol, GIDC, Industrial Estate of
Kalol Taluka in the registration District |
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4) Gist of the terms and conditions and extent and operation of the charge. |
All the
securities described in the column No.3 herein above are given as securities
for various facilities Packing credit
Hypothycation limit of Rs. 9.000 Millions Sub limit of cash
credit hypothecation limit of Rs 2.000 Millions Documentary BP/RD
to 90 days limit of Rs. 0.500 Millions Demand
documentary Foreign bills Purchased at Mandvi Branch, Documentry
Foreign Letter of credit DA limitof Rs 0.500 Millions Guarantee limit
of Rs.0.250 Millions and Specific
Guarantee limit of Rs.0.250 Millions aggregating to Rs. 20.500 Miillions Plus interest,
commission, Ceets, Charge and expenses payable by the company to the Bank of
Baroda. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Kalol Branch, Kalol- 382 721 |
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6) Date and brief description of instrument modifying the charge |
No instrument was
excuted, but on |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
All the
securities described in Column No. 3 herein above and given as per securities
for the various facilities by document described in column No. 1 herein above
shall also be a security for packing credit limit of Rs. 0.500 Millions plus
interest, costs, charge, expenses and other monies payable by the company to
the Bank, Aggregate limits secured is now increased to Rs. 21.000 Millions |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.55 |
|
|
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.54.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
|
|
PAID-UP CAPITAL |
1~10 |
|
|
OPERATING SCALE |
1~10 |
|
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
|
|
--PROFITABILIRY |
1~10 |
|
|
--LIQUIDITY |
1~10 |
|
|
--LEVERAGE |
1~10 |
|
|
--RESERVES |
1~10 |
|
|
--CREDIT LINES |
1~10 |
|
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
|
|
--LITIGATION |
YES/NO |
|
|
--OTHER ADVERSE INFORMATION |
YES/NO |
|
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
|
|
--EXPORT ACTIVITIES |
YES/NO |
|
|
--AFFILIATION |
YES/NO |
|
|
--LISTED |
YES/NO |
|
|
--OTHER MERIT FACTORS |
YES/NO |
|
|
TOTAL |
|
|
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 |
|