MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BERYLL STONE PRIVATE LIMITED |
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Registered Office : |
Sy. No. 119/1 and 2, Surajakkanahalli, Anekal Taluka, Bangalore
562106, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.05.2004 |
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Com. Reg. No.: |
08-33974 |
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CIN No.: [Company
Identification No.] |
U14102KA2004PTC033974 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRB04791D |
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PAN No.: [Permanent
Account No.] |
AAACB4011E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Granite and Marble Products |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
USD 60000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Payments are reported as slow and
delayed. Profit margin is thin. The Company’s Reserves and Surplus
position is low. Subject can be considered for small to mediocre business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Sy. No. 119/1 and 2, Surajakkanahalli, Anekal Taluka, Bangalore
562106, Karnataka, India |
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Tel. No.: |
91-80-22202065 / 329833 |
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E-Mail : |
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Website : |
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Corporate Office : |
21/1 2nd Floor, Eramma Layout,
1st A Main, Adugodi Post, Bannnerghetta Main Road, Bangalore - 560030, India |
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Tel. No.: |
91-80-32959422 |
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Fax No.: |
91-80-2213 1181 |
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E-Mail : |
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Branch : |
Mr. Sadhya Hakim |
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Mobile No.: |
91-98114 74128 |
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Fax No.: |
91-11-2710 2525 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Anjanil Gupta |
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Designation : |
Director |
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Address : |
2/55, West Punjabi Bagh, New Delhi 110026, India |
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Date of Birth/Age : |
05.09.1978 |
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Date of Appointment : |
20.05.2004 |
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Name : |
Ratan Kumar Gupta |
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Designation : |
Director |
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Address : |
2/55, West Punjabi Bagh, New Delhi 110026, India |
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Date of Birth/Age : |
07.07.1951 |
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Date of Appointment : |
01.07.2004 |
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Name : |
Mr. Devilal Goyal |
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Designation : |
Director |
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Address : |
277, 8th Cross Road, Sector 1, HSR Layout, Bangalore
560035, Karnataka, India |
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Date of Birth/Age : |
17.02.1972 |
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Date of Appointment : |
20.05.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
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Names of Shareholders |
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No. of Shares |
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Anjanli Gupta |
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35000 |
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Ratan Kumar Gupta |
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56700 |
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Ratan Kumar Gupta HUF |
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281100 |
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Uma Gupta |
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52000 |
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Mohini Devi |
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100 |
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Prahlad Rai |
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100 |
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Swata Gupta |
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50000 |
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Other relatives of the Directors |
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510300 |
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Total |
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985300 |
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Equity Share
Break-up [As on 31.03.2007] |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Granite and Marble Products |
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Products : |
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GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
35 |
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Bankers : |
Kasturba Road
Branch, Kasturba Road, Bangalore 560001, Karnataka, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
G. V. Acharya and Company Chartered Accountants |
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Address : |
310, Commerce House, 9/1, Cunningham Road, Bangalore 560052,
Karnataka, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
985300 |
Equity Shares |
Rs. 10/-
each |
Rs. 9.853
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.853 |
9.853 |
8.000 |
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2] Share Application Money |
5.100 |
0.008 |
1.861 |
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3] Reserves & Surplus |
0.287 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
[0.262] |
[0.457] |
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NETWORTH |
15.240 |
9.599 |
9.404 |
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LOAN FUNDS |
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1] Secured Loans |
15.157 |
19.310 |
20.477 |
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2] Unsecured Loans |
6.705 |
8.507 |
0.737 |
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TOTAL BORROWING |
21.862 |
27.817 |
21.214 |
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DEFERRED TAX LIABILITIES |
0.051 |
0.031 |
0.000 |
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TOTAL |
37.153 |
37.447 |
30.618 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
22.157 |
25.323 |
25.506 |
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Capital work-in-progress |
0.000
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0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.493
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8.237 |
1.418 |
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Sundry Debtors |
5.384
|
3.034 |
0.000 |
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Cash & Bank Balances |
0.126
|
0.400 |
0.401 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
3.190
|
2.749 |
4.963 |
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Total
Current Assets |
17.193
|
14.420 |
6.782 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
2.185
|
2.393 |
1.825 |
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Provisions |
0.090
|
0.020 |
0.000 |
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Total
Current Liabilities |
2.275
|
2.413 |
1.825 |
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Net Current Assets |
14.918
|
12.007 |
4.957 |
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MISCELLANEOUS EXPENSES |
0.078 |
0.117 |
0.155 |
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TOTAL |
37.153 |
37.447 |
30.618 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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32.832 |
17.729 |
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Total Income |
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32.832 |
17.729 |
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Profit/(Loss) Before Tax |
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0.660 |
0.246 |
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Provision for Taxation |
|
0.110 |
0.051 |
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Profit/(Loss) After Tax |
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0.550 |
0.195 |
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Earnings in Foreign Currency : |
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4.646 |
3.342 |
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Total Imports |
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18.600 |
NA |
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Total Expenditure |
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32.172 |
17.483 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total
Income |
(%) |
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1.67 |
1.09 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.01 |
1.38 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.01 |
0.61 |
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Return on Investment (ROI) (PBT/Networth) |
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0.04 |
0.02 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.58 |
3.14 |
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Current Ratio (Current Asset/Current Liability) |
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7.55 |
5.97 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
Bankers Charges
Report as per Registry
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This Form is for |
Modification of charge |
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Charge
identification number of the charge to be modified |
80006433 |
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Corporate identity
number of the company |
U14102KA2004PTC033974 |
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Name of the
company |
BERYLL STONE
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Sy. No. 119/1 and 2, Surajakkanahalli, Anekal Taluka, Bangalore
562106, Karnataka, India |
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Type of charge |
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Particular of
charge holder |
The Karnataka
Bank Limited Kasturba Road
Branch, Kasturba Road, Bangalore 560001, Karnataka, India |
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Nature of
description of the instrument creating or modifying the charge |
Hypothecation
agreement dated 14.07.2007 Letter of
authority for the deposit of title deeds of immovable property |
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Date of
instrument Creating the charge |
14.07.2007 |
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Amount secured by
the charge |
Rs. 7.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
interest For overdraft
facility PLR + 0.75% with a minimum of 14.75% p.a. For pre shipment
and Post Shipment as per head office circular [b] Terms of repayment Overdraft
Facility on demand Preshipment out
of Export Bills tendered for negotiation Post Shipment
realization of bills Import LC : As
per LC Terms [c] Margin Overdraft
Facility : 25% on stock and Book Debts Preshipment : 25%
on stocks meant for Export Post Shipment 10%
of Export Bills under non LC Import LC : 25%
Cash Margin [d] Extent and
operation of the charge Till the closure
of all the credit facilities [e] Others renewal of
overdraft facility with an existing limit of Rs. 5.000 Millions with a sub
limit of pre shipment /post shipment L/C/NLC DP/DA of Rs. 2.000 Millions Import LC Limit
of Rs. 2.000 Millions |
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Short particulars
of the property charged |
Primary : For OD facility:
Hypothecation of Stocks and Book debts at Sy. No. 119/1 and 2, 125/1,
Surajakkana Halli, Kasaba Hobli, Anekal Taluka, Bangalore For LC facility :
Hypothecation of Goods meant for Export Collateral Already
hypothecated plant and machineries belonging to the company Already mortgaged
by deposit of title deeds of property in Sy. No. 119/1 and 2, 125/1,
Surajakkana Halli, Kasaba Hobli, Anekal Taluka, Bangalore belonging to the
Company. |
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Date of latest
modification prior to the present modification |
09.06.2006 |
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Particulars of
the present modification |
Renewal of
Overdraft facility with an existing limit of Rs. 5.000 Millions with a sub
limit of pre shipment/post shipment L/C/NLC DP/DA of Rs. 2.000 Millions. Fresh import LC
Limit of Rs. 2.000 Millions |
AS PER WEBSITE DETAILS:
The saga of
the SAHUWALA
GROUP started way back in 1935 in a Pre-independent India from
a small village called Ellenabad. The group was a manufacturer and trader in
the cereal trade in Lahore (at the time a part of India). After independence
and partition of India in 1947 and loss of Lahore as a trading hub, the group
shifted its operation to Chennai in South India. With Mr. Vilayati Ram Gupta
at the helm of affairs the group quickly recovered from the shift and started
taking a leading role in the cereal trade in the South.
The next two decade saw an unprecedented growth in business of the Group. It added 5 manufacturing units all over the south and east of India. By now it was one of the largest processors and traders of Wheat and Dal in the country.
The 1970’s and
1980’s saw the next generation of brothers getting into the business. Keeping
pace with the growth of the previous decades the group started diversifying
businesses into other industries. With a textile factory in Coimbatore, an LPG
cylinder factory in Vishakapatnam and an international finance and trading
company in Calcutta, the group had expanded into a new realm of business
groups.
It was at this point in time that Mr. Ratan Gupta , the third
son of Mr. Vilayati Ram Gupta, ventured into the field of Granite and Marble
processing in the south city of Bangalore. With a Bachelors Degree in Engineering, and years of experience working
in the group companies, Mr. Gupta setup a state of the art, Italian
manufactured, Granite processing facility in Bangalore. Keeping up the Sahuwala
Group's values, Mr. Gupta envisions to take this business to newer heights and
establish himself as a leader in Granite and Marble processing in India.
With a dream to
take the Group international, Mr. Anjanil Gupta, Son of Mr.
Ratan Gupta, with a degree in Industrial Engineering and Management Sciences
from Northwestern University, USA has joined Mr. Ratan Gupta in the granite and
marble processing industry. Bringing in fresh blood to the management and
exposure to international standards and ideologies, Mr Gupta is currently
spearheading the group’s activities in exports and development of International
markets for the products manufactured at its world class facilities in
Bangalore. With a very strong conviction and a century of business experience
to guide, Mr. Gupta hopes the group would prosper to new heights and in the
process deliver goods and services to its clients, which are unparalleled and
unequaled by any other.
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. 39.97 |
|
UK Pound |
1 |
Rs. 79.53 |
|
Euro |
1 |
Rs. 63.09 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
32 |
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. |
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 |
|