MIRA
INFORM REPORT
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Report Date : |
22nd March 2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
HILL TOP GRANITES PRIVATE LIMITED |
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Registered Office : |
14/1, Bannerghatta Road, Near Mico Back Gate, Bangalore – 560 030,
Karnataka, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
14.01.1991 |
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Com. Reg. No.: |
08-11567 |
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CIN No.: [Company
Identification No.] |
U26912KA1991PTC011567 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRH00335G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporter, Importer, Processor or Fabricator of Granite Slabs, Title,
Monuments, Pillars, Cubes, Balls and Fancy Articles. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 20000 |
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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 fair. Business is active. Payments are
reported as usually correct and as per commitments. The company can be
considered normal for business dealings at usual trade terms and conditions. A with Profit and Loss figures for 2006 will be sent soon. |
LOCATIONS
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Registered Office : |
14/1, Bannerghatta Road, Near Mico Back Gate, Bangalore – 560 030,
Karnataka, India |
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E-Mail : |
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Head Office : |
Plot No. 44, KIADB Industrial Area, Malur, Distt.-Kolar,
Karnataka, India |
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Factory 1 : |
Plot No. 44, KIADB Industrial Area, Malur, Distt.-Kolar,
Karnataka, India |
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Showroom / Stockyard : |
No. 7 Bannerghatta Main Road, Bangalore, Karnataka 560030,
India |
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Tel. No.: |
91- 80-22291366/ 22227778/ 22227779 |
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Fax No.: |
91-80-22228026 |
DIRECTORS
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Name : |
Mr. Kamal Giria |
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Designation : |
Director |
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Name : |
Mr. Nilesh Giria |
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Designation : |
Director |
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Name : |
Mr. Kamlesh Kumar Jain |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Exporter, Importer, Processor or Fabricator of Granite Slabs, Title,
Monuments, Pillars, Cubes, Balls and Fancy Articles. |
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Products : |
Þ Granite Slabs Þ Title Þ Monuments Þ Pillars Þ Cubes Þ Balls and Fancy
Articles |
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GENERAL
INFORMATION
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No. of Employees : |
About 10 |
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Bankers : |
Not Available |
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Auditors : |
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Name : |
M C Ravindra and Company Chartered Accountants |
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Address : |
113/B, 2nd Floor, Infantry Road, Bangalore – 560 001,
Karnataka, India |
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Sister Concerns : |
Þ Hilltop Exports Þ Hilltop Stones |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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230890 |
Equity Shares |
Rs. 10/- |
Rs. 2.309 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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2.309 |
2.309 |
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2] Reserves & Surplus |
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2.171 |
1.485 |
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NETWORTH |
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4.480 |
3.794 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.100 |
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TOTAL BORROWING |
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0.000 |
0.100 |
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DEFERRED TAX LIABILITIES |
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0.255 |
0.310 |
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State Subsidy |
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1.625 |
1.625 |
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TOTAL |
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6.360 |
5.829 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.115 |
4.765 |
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Capital work-in-progress |
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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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0.780 |
0.837 |
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Sundry Debtors |
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5.121 |
2.830 |
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Cash & Bank Balances |
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1.037 |
0.135 |
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Loans & Advances |
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1.919 |
2.388 |
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Total
Current Assets |
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8.857 |
6.190 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.305 |
3.903 |
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Provisions |
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1.307 |
1.223 |
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Total
Current Liabilities |
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4.612 |
5.126 |
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Net Current Assets |
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4.245 |
1.064 |
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TOTAL |
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6.360 |
5.829 |
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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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Debt Equity Ratio (Total Liability/Networth) |
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2.45 |
2.88 |
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Current Ratio (Current Asset/Current Liability) |
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1.92 |
1.20 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Web:
The company is a well established name in the field of granites, setup and run by the renowned and trusted business house of GIRIA'S-well known for its retailing strengths in Electronics and Consumer Durables with four showrooms in Bangalore alone. After initiating operations in Granite Trading, in 1990 they integrated backwards in cutting and polishing of GRANITE SLABS/TILES. They are having three comprehensive state-of-the-art granite manufacturing units:
Þ Unit No. 1. Hilltop Exports: Manufacturer of Gangsaw sizes Granite Slabs.
Þ Unit No.2. Hilltop Granites Pvt. Ltd: Block Cutter slabs up to 3ft. height.
Þ Unit No.3. Maruti Industrial Corporation: Tiles plant up to 3ft.x 1.5ft. sizes
The production capacity is more than 200,000 Sq.Ft. per month and we are also having four big stockyards of approximately 50,000 Sq.Ft. at Bannerghatta Road, Bangalore, (One of the main international markets for granites.) An amazing display of the classic range of granites can be seen at these most spacious stockyards.
They have own mines of Black and Red Multi Color.
They have been in this business for more than 30 years and are having good human resources with well experienced staff.
A wide range of world-class granites are procured from various selected quarries from South India. Their current product range includes over 44 different qualities, all of which are amongst the most popular and sought after Indian granite qualities. The products are offered in polished and flamed finishes. They are also equipped to supply granite table tops and counters in different sizes as per the client's specifications.
They work in large volume with low margin of profit. They insure that our prices are most competitive without compromising in quality and timely delivery.
For the first time in South India we have introduced SOLID GRANITE Door Frames which are a better alternative to wood. This product has met with overwhelming success in Mumbai.
Advantages of Granite Door Frames:
MAINTENANCE FREE
Granite is 100% maintenance free and also UVstabilised, non-discoloring or
fading, besides being scratch and stain resistant. While, wood requires
maintenance, discolors and is susceptible to scratches and stains.
LIFELONG DURABILITY
Granite by nature is much more durable than wood.
DECORATIVE
Granite Frame is more decorative and its finishing is of excellent quality.
VIBRATION RESISTANT
Granite frames being made from a single piece has absolutely no effect of
vibration.
ECO FRIENDLY - Save Trees.
Hilltop Exports is the export arm of the group. They are exporting granite slabs, tiles, monuments, pillars, cubes, balls and fancy articles to Singapore,USA,Australia,Nigeria,Germany,France, Dubai and many other countries.
Providing total solutions in Granite.
Products
Blocks
Þ Marble
Þ Granite
Þ Sandstone
Þ Limestone
Slabs
Þ Marble
Þ Granite
Þ Sandstone
Þ Limestone
Cut-To-Size
Þ Marble
Þ Granite
Þ Sandstone
Þ Limestone
Þ Slate
Tiles
Þ Marble
Þ Granite
Þ Sandstone
Þ Limestone
Þ Slate
Contacts
Headquarters
Plot No. 52, ADB Industrial Area, Malur, District Kolar, Karnataka 563130,
India
Showroom / Stockyard
No. 7 Bannerghatta Main Road, Bangalore, Karnataka 560030, India
Tel: 91- 80-22291366/ 22227778/ 22227779
Fax: 91-80-22228026
Contact:
Name: Kamal Giria, Director
Mobile: 91-9845025011
Factory
Hilltop Granites Private Limited
Plot No. 44, KIADB
Industrial Area, Malur, Distt.-Kolar, Karnataka, India
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.70 |
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UK Pound |
1 |
Rs.85.90 |
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Euro |
1 |
Rs.58.25 |
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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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