MIRA
INFORM REPORT
|
Report Date : |
03.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SHREE RAM GRANIMARMO PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Shree Ram Industrial Estate, Near Riico Industrial Area, Bagoda Road, Jalore
-343 001 , Rajasthan |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
19.05.1993 |
|
|
|
|
Com. Reg. No.: |
17-7411 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U14102RJ1993PTC007411 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Granite Slabs and Tiles. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 94128 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established company having satisfactory track.
Trade relations are fair. Financial positions is satisfactory. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Shree Ram Industrial Estate, Near Riico Industrial Area, Bagoda Road,
Jalore -343 001 , Rajasthan |
|
Tel. No.: |
91-2973-223302 |
|
Fax No.: |
91-2973-225552 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Raju Choudhary |
|
Designation : |
Director |
|
Address : |
Shivaji Nagar, jalore – 343 001, Rajasthan, India |
|
Date of Birth/Age : |
14.05.1967 |
|
Date of Appointment : |
19.05.1993 |
|
|
|
|
Name : |
Mrs. Devi Bhanwari |
|
Designation : |
Director |
|
Address : |
Shivaji Nagar, jalore – 343 001, Rajasthan, India |
|
Date of Birth/Age : |
10.06.1938 |
|
Date of Appointment : |
19.05.1993 |
|
|
|
|
Name : |
Mr. Anil Choudhary |
|
Designation : |
Director |
|
Address : |
Shivaji Nagar, jalore – 343 001, Rajasthan, India |
|
Date of Birth/Age : |
02.09.1970 |
|
Date of Appointment : |
19.05.1993 |
KEY EXECUTIVES
|
Name : |
Mr. Babulal Sethi |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Devi Bhanwari |
|
40100 |
|
Mr. Raju Choudhary |
|
33400 |
|
Mr. Anil Choudhary |
|
43100 |
|
Mr. Sukhram Choudhary |
|
15100 |
|
Mrs. Kiran Choudhary |
|
8300 |
|
Mr. Sukhramji Choudhary HUF |
|
13500 |
|
Mr. Mishrimal Suthar |
|
1500 |
|
Mr. Anil Choudhary HUF |
|
10000 |
|
Mr. Raju Choudhary |
|
5000 |
Equity Shares Breakup (Percentage of Total Equity):
|
Sr No. |
Category |
Percentage |
|
1 |
Directors or relatives of directors |
99.12 |
|
2 |
Other top fifty (50) shareholders |
0.88 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Granite Slabs and Tiles. |
||||
|
|
|
||||
|
Products: |
|
GENERAL
INFORMATION
|
No. of Employees : |
150 |
|
|
|
|
Bankers : |
· Bank of Rajasthan · HDFC Bank · ICICI Bank · ABN Amro Bank NV Address: m9th
Floor, Tower C, Cyber Greens, DLF Cyber city, Sector 25A, Gurgaon – 122 002, Haryana,
India Email ID: ruchi.mehta@in.abnamro.com |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Ummed Jain and Company Chartered Accountants |
|
Address : |
R-12, Yudhishter Marg, C – Scheme, Jaipur – 302 005, Rajasthan |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
550000 |
Equity shares |
Rs. 10/- each |
Rs. 5.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
510000 |
Equity shares |
Rs. 10/-
each |
Rs. 5.100
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
5.100 |
1.700 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
18.432 |
22.519 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
23.532 |
24.219 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
20.898 |
15.191 |
|
|
2] Unsecured Loans |
|
1.283 |
3.833 |
|
|
TOTAL BORROWING |
|
22.181 |
19.024 |
|
|
DEFERRED TAX LIABILITIES |
|
0.603 |
1.392 |
|
|
|
|
|
|
|
|
TOTAL |
|
46.316 |
44.635 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
21.774 |
21.211 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.032 |
0.032 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
13.436 |
15.610 |
|
|
Sundry Debtors |
|
41.572 |
28.210 |
|
|
Cash & Bank Balances |
|
1.178 |
2.875 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
9.074 |
6.191 |
|
Total
Current Assets |
|
65.260 |
52.886 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
39.665 |
29.492 |
|
|
Provisions |
|
1.085 |
0.002 |
|
Total
Current Liabilities |
|
40.750 |
29.494 |
|
|
Net Current Assets |
|
24.510 |
23.392 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
46.316 |
44.635 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
|
154.134 |
94.135 |
|
Other Income |
|
0.000 |
0.000 |
|
Total Income |
|
154.134 |
94.135 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
1.825 |
1.087 |
|
Provision for Taxation |
|
0.574 |
0.000 |
|
Profit/(Loss) After Tax |
|
1.251 |
1.087 |
|
|
|
|
|
|
Total Expenditure |
|
152.309 |
93.048 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
0.81 |
1.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.81 |
1.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.09 |
1.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.07 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.67 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.60 |
1.79 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U14102RJ1993PTC007411 |
|
Name of the company |
SHREE RAM
GRANIMARMO PRIVATE LIMITED |
|
Address |
Shree Ram Industrial Estate, Near Riico Industrial Area, Bagoda Road,
Jalore -343 001 , Rajasthan |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Movable property |
|
Particular of the charge holder
|
ABN Amro Bank NV Address: m9th Floor, Tower C, Cyber Greens, DLF Cyber city, Sector
25A, Gurgaon – 122 002, Haryana, India Email ID: ruchi.mehta@in.abnamro.com
|
|
Nature or description of the instrument creating charge |
Facility cum hypothecation agreement |
|
Date of the instrument creating charge |
21.02.2007 |
|
Amount Secure by the charge |
Rs. 1.000 million |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of interest: Interest @10.57% p.a Term of repayment: Repayable in 18 installment (1st installment of Rs.
64,380/- and rest 17 installment of Rs.0.060 million) Margin: Margin money of Rs. 0.775 millions contributed by the customer. Extent and operation of the
charge: First and Exclusive charge on the assets financed by the way of
facility cum hypothecation agreement Details of the Equipment is mentioned in
the column -14 Below. Others: N/A |
|
Shorts particulars of the
Property charged |
One No. BEMLBE 220 LC Loan No. 9385639 Invoice No:- E66552 Machine No:- ZIIII550828 |
|
Name of the
company |
SHREE RAM
GRANIMARMO PRIVATE LIMITED |
|
Presented
By |
Shri of Raju Chaudhary |
|
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 refereed to as the company) in favour of ABN Amro
Bank NV (therein and hereinafter referred to as “ABN AMRO Bank”) a copy of
which is enclosed. |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Banking facility
of Rs. 4.500 millions ( hereinafter referred to as “ the said Banking
facilities”) |
|
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 |
One No. ELGI
Compressor Invoice No.
43/000018 (hereinafter
referred to as “the Construction Equipment”) |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
In consideration of ABN Amro Bank having agreed to provide the said
Banking facilities to the company, agreement and declaration by the company,
interalia, as follows:- · Covenant by the company to repay the said Banking facilities and pay interest and all other monies in the manner set out in the facility cum Hypothecation Agreement dated 30th April 2005 (hereinafter referred to as “the Facility Agreement “) between the Company and ABN Amro and to comply with the terms and conditions of the facility agreement. · The construction equipment were thereby hypothecated to ABN Amro Bank, as and by way of first charge , premia on prepayment or on redemption, costs, charges and expenses and all other monies payable by the company to ABN Amro Bank in respects thereof. · The company to keep the Construction Equipment marketable and good condition and also insured as provided therein. · Power of entry power to take charge and / or possession of seize, recover, receive, appoint receives of remove and / or sale by public auction or private contract, dispatch for realization or otherwise dispose off or deal with all or any part of the Construction , etc. as provided there. |
|
5) Name and
Address and description of the person entitled to the charge. |
ABN Amro Bank NV, DLF Centre Address: Sansad Marg, New Delhi – 110 001 |
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.39.33 |
|
UK Pound |
1 |
Rs.81.70 |
|
Euro |
1 |
Rs.57.67 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|