MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
THAR MARBLES PRIVATE LIMITED |
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Registered Office : |
Khasra No. 329/5, Village savatsar, Tehsil Kishagarh, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.05.1991 |
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Com. Reg. No.: |
005977 |
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CIN No.: [Company
Identification No.] |
U14101RJ1991PTC005977 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRT00198C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Marbles, Granite Slabs, Tiles and Slabs |
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 : |
USD25000 |
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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 company having satisfactory
track records. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as 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 : |
Khasra No. 329/5, Village savatsar, Tehsil Kishangarh, |
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Tel. No.: |
91-1463-251545 |
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Fax No.: |
91-1463-250545 |
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E-Mail : |
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Website: |
http:/www.tharmarbles.com |
DIRECTORS
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Name : |
Mr. Shyam Sunder Kasat |
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Designation : |
Director |
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Address : |
New Colony, |
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Date of Birth/Age : |
30.11.1951 |
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E-Mail : |
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Date of Appointment : |
26.12.1992 |
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Name : |
Mr. Murli Dhar Kasat |
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Designation : |
Director |
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Address : |
New Colony, |
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Date of Birth/Age : |
01.04.1967 |
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E-Mail : |
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Date of Appointment : |
26.12.1992 |
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
P-4A, |
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Date of Birth/Age : |
12.12.1973 |
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E-Mail : |
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Date of Appointment : |
25.08.1997 |
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Name : |
Mr. Mahesh Kumar Kasat |
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Designation : |
Director |
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Address : |
10/1A, |
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Date of Birth/Age : |
11.11.1956 |
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E-Mail : |
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Date of Appointment : |
25.08.1997 |
KEY EXECUTIVES
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Name : |
Mr. Rishi Kasat |
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Address: |
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Phone No.: |
91-1463-251545 |
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Mobile No.: |
91-9829666666 |
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Website: |
http:/www.tharmarbles.com |
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Name : |
Mr. Sandeep Jain |
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Address: |
Practising Company Secretary |
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Phone No.: |
3426, First Crossin, Kalyan Ji Ka Raasta, Chandpole Bazar, Jaipur –
302 001, |
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Tel No.: |
91-41-2324833 |
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Mobile No.: |
91-9828050920 |
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E-Mail: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Shyam Sunder Kasat |
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3060 |
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Murli Dhar Kasat |
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3060 |
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1000 |
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Mohini Devi Kasat |
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650 |
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Bodu Lal Kasat |
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650 |
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Mohan Lal Kasat |
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650 |
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Rajni Kasat |
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2000 |
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Jamuna Devi Kasat |
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1000 |
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Madhu Devi Kasat |
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1000 |
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Reeta Kasat |
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2000 |
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Kanchan Kasat |
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3000 |
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Sumitra Devi Kasat |
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1501 |
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Shashi Kant Kasat |
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2000 |
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Vimla Devi Kasat |
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2001 |
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Bhavsagar Vypai Private Limited |
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3000 |
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Mukti Fab. Private Limited |
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5000 |
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Srikant Kasat |
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2001 |
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Jeevandarshi Marketing Private Limited |
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4000 |
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Rameshwari Devi Kasat |
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1 |
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Rajendra Kumar Kumawat |
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1 |
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Category |
Percentage of Holding |
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Directors or Relatives of Directors |
99.99 |
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Other top 50 Share Holders |
00.01 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Marbles, Granite Slabs, Tiles and Slabs |
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Products : |
Sandstone , Marble, Slate, Granite, ( Blocks, Slabes and Tiles),
Teakwood, Rainbow, Lady Only, 10MM
Tiles: Rainforest Brown and Onyx. |
GENERAL INFORMATION
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Bankers : |
v
State Bank of v
UCO Bank, Makrana v
Tamilnadu Mercantile Bank v
IDBI, Kishangarh v
State Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ghanshyam Rathi and Company Chartered Accountant |
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Address : |
B-3, Bapna House, New Colony, |
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Tel No.: |
91-41-2370150 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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42076 |
Equity Shares |
Rs. 100/- each |
Rs. 4.208 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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4.208 |
4.208 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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2.241 |
2.097 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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6.449 |
6.305 |
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LOAN FUNDS |
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1] Secured Loans |
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1.979 |
1.978 |
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2] Unsecured Loans |
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7.502 |
4.924 |
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TOTAL BORROWING |
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9.481 |
6.902 |
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DEFERRED TAX LIABILITIES |
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0.166 |
0.085 |
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TOTAL |
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16.096 |
13.292 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.538 |
5.085 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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9.639 |
5.510 |
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Sundry Debtors |
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5.586 |
1.500 |
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Cash & Bank Balances |
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0.658 |
1.783 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.963 |
1.125 |
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Total
Current Assets |
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16.846 |
9.918 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.252 |
1.680 |
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Provisions |
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0.036 |
0.031 |
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Total
Current Liabilities |
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5.288 |
1.711 |
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Net Current Assets |
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11.558 |
8.207 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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16.097 |
13.292 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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18.637 |
13.121 |
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Other Income |
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0.166 |
1.852 |
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Stock Adjustments |
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(0.182) |
1.251 |
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Total Income |
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18.803 |
14.973 |
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Profit/(Loss) Before Tax |
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0.261 |
0.386 |
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Provision for Taxation |
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0.118 |
0.172 |
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Profit/(Loss) After Tax |
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0.143 |
0.214 |
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Expenditures : |
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Total Expenses |
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17.762 |
15.195 |
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Depreciation |
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0.598 |
0.643 |
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Total Expenditure |
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18.360 |
15.838 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.76 |
1.43 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.40 |
2.94 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.22 |
2.57 |
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Return on Investment (ROI) (PBT/Networth) |
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0.04 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.29 |
1.27 |
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Current Ratio (Current Asset/Current Liability) |
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3.19 |
5.79 |
LOCAL AGENCY FURTHER INFORMATION
Company Profile:
Transform the houses into little royal
palaces with the touch of the majestic marbles and sandstones. Lifeless
harbingers of the unspoken grandeur of royalty, natural stones have brought
various architectural monuments to life, since time immemorial. Choice of great
emperors in the days of yore, stones such as marble, slate, sandstone are now
the masses' reach...they provide you this luxury of opulence. They are Thar
Marbles (P) Ltd.
About Them
Thar Marbles (P) Ltd. is a leading company
since its incorporation in 1990, in the field of quarrying, finishing and stone
export. Their products have stolen the show at most international exhibitions.
Quality from
Their Products
They have a very professional, experienced
and qualified team. Their export department is fully equipped with most modern
communication systems like computers, fax, modem and e-mail, etc. to provide
you with lucrative services. They are basically dealing in the following:
- Sandstone
(Teakwood and Rainbow)
- Slate
- Marble (Rain
Forest Brown, Rain Forest Green, Green Onyx and Pink Onyx)
- Granite.
Their Competencies
Their distinctive features are extreme
competence and caution taken in the excavation, selection and processing of the
material, using the world class techniques and state-of-the-art machines.
Their marble and sandstone quarries in various parts of the country with vast
deposits of good quality stones give them an edge over their competitors.
Their Deliverance
They have updated and most modern advanced,
state-of-the-art, technology for making marble tiles, as per international
specification and standards. Their plant consists of latest technology, which
produces huge quantity of products to embellish the dwellings. The colour and
texture of natural stones may vary slightly in the deposits but the quality and
composition remains of high class standard.
Their Commitment
They believe in providing high value to
their clientele. To meet this goal successfully, they have engaged a team of
highly skilled craftsmen, who dexterously process the natural stones, slates,
lime stones and quartzite tiles, to create artistic wonders. The use of
technically advanced machines for executing highly sophisticated cutting,
polishing, has resulted in the quality and elegance, which is simply
outstanding.
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Name of the company |
THAR MARBLES PRIVATE LIMITED |
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Presented By |
Murli Dhar Kasat |
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1) Date and description of instrument creating the change |
All Documents Dated 26-12-200 Agreement for Cash Credit. Hypothecation of Goods DP Note ( thired party Co-obligates) Letter of continuity Letter of undertaking by company not to be create any further charge
over their property and assets including uncalled capital Agreement of cash credit hypothecation of debts and assets Sanction Letter dated 21.08.2002 Certified copy of resolution |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Limit
of Rs. 2.000 million |
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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 |
Hypothecation of
Stocks of stock of Marble/Granite/Sand
Stone. Blocks and luffers, Tiles, slabs, stock in process. Finished Goods.
Stores. Blades and Segments and Sundry Debtors |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin Raw Material 25% Finished Goods 30% Book Debts 100% Rate of Interest
: 2.00% above the SBBJ-PLR with a minimum 13.00%p.a. Repayment for 12
months w. e. f. 10.08.2002 |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
NIL |
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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. |
N.A. |
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.40.71 |
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|
1 |
Rs.81.24 |
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Euro |
1 |
Rs.54.63 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
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 |
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