MIRA
INFORM REPORT
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Report Date : |
03.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHREE RAM GRANIMARMO PRIVATE
LIMITED |
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Registered Office : |
Shree Ram Industrial Estate, Near RIICO Industrial Area, Bagoda Road, Jalore
– 343 001, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
19.05.1993 |
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Com. Reg. No.: |
17-7411 |
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CIN No.: [Company
Identification No.] |
U14102RJ1993PTC007411 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Granite ,Marble, Sandstone, Slates, Lime
Stones like Yorky, Bronte, Rainbow, Teak, etc. |
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 94124 |
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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. 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/Factory : |
Shree Ram Industrial Estate, Near RIICO Industrial Area, Bagoda Road,
Jalore – 343 001, Rajasthan |
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Tel. No.: |
91-2973-225551 / 53 / 223302 |
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Mobile No.: |
91-9414151555 |
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Fax No.: |
91-2973-225552 |
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E-Mail : |
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Website : |
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Corporate Office : |
A/7, Shakti Apartment, C G Road, Chakala, Andheri (East), Mumbai – 400
099, Maharashtra |
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Tel. No.: |
91-22-28374069 / 28396410 |
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Fax No.: |
91-22-28374538 / 28374538 |
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Mobile No: |
91-9819831105 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Raju Choudhary |
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Designation : |
Executive director |
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Address : |
Shivaji Nagar, Jalore – 343 001, Rajasthan |
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Date of Birth/Age : |
14.05.1967 |
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Date of Appointment : |
19.05.1993 |
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Email ID: |
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Name : |
Mr. Ajay Nair |
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Designation : |
Marketing Director |
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Name : |
Mr. Anil Choudhary |
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Designation : |
Managing director |
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Address : |
Shivaji Nagar, Jalore – 343 001, Rajasthan |
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Date of Birth/Age : |
02.09.1970 |
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Date of Appointment : |
19.05.1993 |
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Email ID: |
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Name : |
Mrs. Bhanwari Devi Chaudhary |
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Designation : |
Director |
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Address : |
Shivaji Nagar, Jalore – 343 001, Rajasthan |
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Date of Birth/Age : |
10.06.1938 |
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Date of Appointment : |
19.05.1993 |
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Email ID: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mrs. Bhanwari Devi Choudhary |
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40100 |
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Mr. Raju Choudhary |
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33400 |
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Mr. Anil Choudahry |
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43100 |
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Mr. Sukhram ji Choudhary |
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15100 |
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Mrs. Kiran Choudhary |
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8300 |
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Mr. Sukhramji Choudhary (HUF) |
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13500 |
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Mr. Mishrimal Suthar |
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1500 |
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Mr. Anil Choudhary (HUF) |
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10000 |
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Mr. Raju Choudahry (HUF) |
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5000 |
Equity Shares Breakup (Percentage of Total Equity):
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
99.12 |
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2 |
Other top fifty (50) shareholders |
0.88 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Granite ,Marble, Sandstone, Slates, Lime
Stones like Yorky, Bronte, Rainbow, Teak, etc. |
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Products : |
· Marbles · Sand stones · Slate · Granites · Lime stones · Cobbles · Pebbles · Articles |
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Exports : |
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Countries : |
Africa, Middle East, US, United Kingdom, Australia |
GENERAL
INFORMATION
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No. of Employees : |
175 |
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Bankers : |
· ABN Amro Bank NV Address: 9th
Floor, Tower C, Cyber Green, DLF City, sector 25A, Gurgaon – 122 002,
Haryana, India Email ID: ruchi.mehta@in.abnamro.com |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ummed Jain and company Chartered Accountants |
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Address : |
R -12, Yudhishter Marg, C – Scheme, Jaipur – 302 005, Rajasthan |
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Group Companies : |
· Inaniya Exports Private Limited · Shree Ram International · Annu Granites · Shree Ram Granites |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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550000 |
Equity shares |
Rs.10/- each |
Rs. 5.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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510000 |
Equity shares |
Rs.10/- each |
Rs. 5.100
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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5.100 |
1.700 |
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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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18.431 |
22.519 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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23.531 |
24.219 |
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LOAN FUNDS |
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1] Secured Loans |
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20.898 |
15.191 |
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2] Unsecured Loans |
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1.283 |
3.833 |
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TOTAL BORROWING |
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22.181 |
19.024 |
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DEFERRED TAX LIABILITIES |
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0.603 |
1.392 |
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TOTAL |
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46.315 |
44.635 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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21.773 |
21.210 |
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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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0.032 |
0.032 |
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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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13.436 |
15.609 |
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Sundry Debtors |
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41.571 |
28.210 |
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Cash & Bank Balances |
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1.177 |
2.875 |
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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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9.074 |
6.191 |
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Total
Current Assets |
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65.258 |
52.885 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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39.664 |
29.491 |
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Provisions |
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1.084 |
0.001 |
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Total
Current Liabilities |
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40.748 |
29.492 |
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Net Current Assets |
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24.510 |
23.393 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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46.315 |
44.635 |
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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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2.67 |
2.00 |
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Current Ratio (Current Asset/Current Liability) |
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1.60 |
1.79 |
LOCAL AGENCY
FURTHER INFORMATION
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Corporation identity number or foreign company registrations number of
the company |
U14102RJ1993007411 |
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Name of the company |
SHREE RAM GRANIMARMO PRIVATE LIMITED |
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Address |
Shree Ram Industrial Estate, Near RIICO Industrial Area, Bagoda Road,
Jalore – 343 001, Rajasthan |
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This Form is for |
Creation of charge |
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Type of Charges |
Movable property |
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Particular of the charge holder
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ABN Amro Bank NV Address: 9th Floor, Tower C,
Cyber Green, DLF City, sector 25A, Gurgaon – 122 002, Haryana, India Email ID: ruchi.mehta@in.abnamro.com |
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Nature or description of the instrument creating charge |
Facility cum hypothecation agreement |
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Date of the instrument creating charge |
21.02.2007 |
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Amount Secure by the charge |
Rate
of interest: Interest @10.57%p.a Terms
of repayment: Repayable in 18 installments (1st
installments of Rs. 0.064 millions And rest 17 installments of Rs. 0.060
millions each) Margin: Margin Money of Rs. 0.775 millions
contributed by the customer Extent
and operation of charge : Fist and exclusive charge on assets
financed by the way of facility cum hypothecation agreement. Details of the
equipment is mentioned in the column – 14 Below |
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Particulars of the Property charged
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One No. BEMLBe 220 LC Loan No.9385639 Invoice No.E66552 Machine No:ZIIII550828 |
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Name of the company |
SHREE RAM GRANIMARMO PRIVATE LIMITED |
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Presented By |
Shri Raju Chaudhary |
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1) Date and description of instrument creating the change |
Facility cum hypothecation agreement dated
the 30th day of April 2005
executed by limited (Therein and hereinafter referred to as the company”) in
favour of ABN Amro Bank N V (therein and hereinafter referred to as
ABN Amro Bank”) a copy of which is enclosed |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Banking facility of Rs. 0.450 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 |
Herein after referred to as “the construction Equipment “) |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
In consideration of ABN Amro Bank having
agreed to provided the said Banking facilities to the company, agreement and
the said Banking facilities to the Company, interalia as follow:
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5) Name and Address and description of the person entitled to the
charge. |
ABN Amro Bank NV DLF Centre, Sansad Marg,
New Delhi – 110 001 |
WEBSITE DETAILS:
Subject from very humble beginnings in 1985 has come a long way to become one of the leading granite processors and exporters of India. It can be considered the only fully integrated granite processing units in the whole of North India.
The company process more than 40 popular shades of granite in their
fully automatic granite factory. SUBJECT
has all the facilities under one roof for processing of Tiles, Slabs, Vertical Cutter Slabs, Cut to
Sizes, Counter Tops, Steps,
Risers, Skirting etc. The production process involves a combination of
Imported and Indigenous machines and the final quality meets the international
specifications surpassing the expectations of the client. The factory is
managed and operated by qualified and experienced staff.
SUBJECT own and operate 15 quarries in INDIA and some of the shades are
exclusive. All the excavation is semi mechanized and they are aiming for 100%
mechanization by April 2007. Quarrying is carried out scientifically by
experienced people. The blocks from other parts of India is also inspected and
transported by road to the factory for processing. Since they have leased out
facilities at Bangalore, Madurai and Hyderabad they process all south based
shades in these facilities which gives them a cutting edge in cost saving.
They cater to the diverse need of their clients, whom they consider
their partners, to the point of rare perfection and setting new standards in
excellence. This has won subject wide appreciation from leading
distributors, importers, exporters, Architects and major contracting companies.
They are keen to expand their business and be associated with reputed
companies to market their products in the territory for which they assure you
all necessary assistance and services.
Production
Process:
A. Blocks : SUBJECT is using most modern machines at their quarries to maintain International Standard. Established in quarrying and miming for over 28 years. SUBJECT has over 15 quarries of their own and few more are in the pipeline. SUBJECT through their own research and survey has identified unique granite deposit in provinces of Indian. Many granite verities were explored and have exclusive trademarks. Some of branded colors are: Green Pearl, Royal Cream, Lakha Red, Rabbit Pearl, Brown Pearl, Classic White, Rosy Pink, Bala Flower, Purple Green, Royal Green, K-blue, Italian Red and Italian Brownx. Approx. Block production 1000 CBM/Month.
(a) Slicing :-
All processing starts from the selection of right blocks. The blocks are then inspected, dressed and loaded to the trolley for cutting / slicing into rough slabs of desired thickness. Usually slabs are of 2cm and 3 cm but can be of any thickness, which need only adjustments of the spacers in the gang saw. SUBJECT uses Barsanti 350 and Gaspari Jumbo Gang Saw - M 450, of Italian origin for cutting slabs of 5’+ x 9'+ and also indigenous vertical cutters to cut slabs of 3’ height. Vertical Cutters are machines, which use diamond tipped Circular blades for cutting the block into slices. The slices are inspected to remove any slices with cracks, patches, unusual coloring, major variations in shades etc.
(b) Polishing of
slices :-
The sawn slices after inspection for any defects like cracks, patches irregular shades or patterns etc. The slices are then sent for polishing. They use automatic polishing machine Breton form Italy. All the polishing bricks are imported which ensures uniform and high gloss polish. The polish will be usually 80 gloss and above and for certain material 100 + on gloss meter. The polished slabs are again inspected and if needed given a protective epoxy coating. The edges of the polished slabs are usually random but can be cut if required by the client. The slabs are then stacked in lots based on the final quality.
(c) Packing :-
The export packing is usually in strong seaworthy wooden frames. But for local transportation within India they are stacked on the trucks and lashed.
B. TILES
The tiles are cut from smaller blocks referred as Khandas,
which are sized, to the specific requirement of the tile. The standard tile
size is generally 305x305mm, 300x300mm, 300x600mm, 400x400mm, and 450x450mm.
These sizes are standardized because of the requirement of the international
market and also availability of cutting machines to cut these sizes. All other
sizes are referred as “Cut To Size”. The thickness of these tiles starts from
10mm and above. (Any thickness above 30mm again comes in the range of cut to
size or monument finish)
(b) Slicing :-
The Khandas are inspected and loaded to the smaller cutters
and sliced to strips of respective thickness and dimensions with tolerance for
final finish. For Tile cutting they are using Simec NT-2/50S machine of Italian
make. The thickness may be 10 to 20 % higher to arrive at the final thickness.
Say, if they need a final thickness of 10mm the slices will be 11-12mm. The
dimensions will be 3 to 4 cm more to get the required sizes after final
trimming. (Say a to get a finished tile of 300x600mm the sawn strip will be
330x630-640mm). The strips are again inspected for the defects referred above
and segregated. They use indigenous cutting machines that are unique
inventions, which now is being appreciated by other granite processing
countries.
(c) Calibration
:-
The approved strips are forwarded to the calibration. The strips are calibrated to the required thickness. (A strip of 11-12 mm thickness will be leveled and brought to a thickness of 10 mm etc
(d) Polishing
:-
The strips are inspected on line and passed to the polishing machine. The strips are polished on a 9 Head Auto Line Polishing Machine using water as lubricant. They use imported polishing bricks and the polish is above 80 gloss above on gloss meter. The polished strips are again inspected for uniformity, scratches, Patches.
(e) Edge cutting
: -
The approved polished strips are then cut to the required size using an imported double blade edge-cutting machine. First the length is cut and then width or to the final dimensions. (Usually the polished strips are 65cms long and 33cms wide. The length is trimmed to 30.5cms and width trimmed to 30.5cms to arrive at a final dimension of 305x305 tile.)
(f) Chamfering
:-
The polished strips are then moved to the chamfering unit, which includes side calibration unit as well. The tiles pass through the side calibrator, which levels the four sides of the tile and moves to the chamfering point, which chamfers the four edges of the polished face.
(g) Inspection and
Sorting :-
This is the final stage of processing of tiles. Though the product is inspected at every stage of production the finished tiles are inspected thoroughly by experienced inspectors. The tiles are also segregated in lots based on their variations in shades or patterns. The tiles are then sorted out as 1st choice, 2nd choice, 1st commercial and commercial choice. The buyer then is offered the products for their inspection before packing.
(h) Packing and
Crating :-
The tiles for exports are packed in Styrofoam boxes. 10 tiles of 305x305x 10mm thickness are packed in one box, 36 such boxes in one crate. The crates are strong and sea worthy made of wood. Some clients prefer packing in corrugated boxes to reduce the cost. One container can carry 20 crates i.e. 7200sft.
Quality Assurance:-
At the company, quality is a culture. The quality check starts from selection of the right raw material and the quality is inspected at every stage of production. Quality control is strictly maintained and is not compromised at any cost. The quality check is carried out in house by highly experience inspectors before the material is packed for exports. The client can also depute his inspection agents to reconfirm the quality.
OTHER INFORMATION:-
Sole Selling
Agents are:-
·
S R Granite and Marble Ltd. - London -(Uk)
· Shree Ram Granimarmo Pvt. Ltd.(Usa)
·
Sabta Granite & Marble Trading Est, Sharjah. (Uae)
·
Servotek Group Building Material W.L.L., Doha. (Qatar)
·
Shree Ram International, Jakarta. (Indonesia)
·
Stone Studio India Sdn. Bhd. - Kuala Lumpur ( Malaysia)
- (REG. NO. 727216-A)
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.37 |
|
UK Pound |
1 |
Rs.81.82 |
|
Euro |
1 |
Rs.56.83 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|