MIRA
INFORM REPORT
|
Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
YASH PULSES INDUSTRIES |
|
|
|
|
Registered Office : |
24, East Industrial Area Scheme, Kalamna Market, Nagpur-440008,
Maharashtra |
|
|
|
|
Country : |
India |
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|
|
|
Financials (as on) : |
31.03.2008 |
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|
|
|
Year of Establishment : |
1991 |
|
|
|
|
IEC No.: |
0396057004 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAMPB9388C |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
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|
|
|
Line of Business : |
Manufacturer of Dall |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Trade relations are fair. Business is active. No complaints have been
heard from the market sources. It would be advisable to take adequate securities while dealing with
the subject. |
INFORMATION PARTED
BY
|
Name : |
Mr. Krishna Bhojwani |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9423683770 |
|
Date : |
29.11.2008 |
LOCATIONS
|
Registered Office/ Factory : |
24, East Industrial Area Scheme, Kalamna Market, Nagpur-440008,
Maharashtra, India |
|
Tel. No.: |
91-712-790514/ 780230 |
|
Mobile No.: |
91-9422102024 |
|
Fax No.: |
91-712-780230 |
|
E-Mail : |
|
|
Area : |
8000 sq.ft (Owned) |
SOLE PROPRIETOR
|
Name : |
Mr. Krishnakumar Bhojwani |
|
Designation : |
Proprietor |
|
Address : |
“Shri Laxmi’, 4, East Wardhaman Nagar, Nagpur-440008, Maharashtra,
India |
|
Date of Birth/Age : |
37 Years |
|
Qualification : |
MBBS DNB |
|
Experience : |
17 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Dall |
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Products : |
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Terms : |
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Selling : |
Credit ( 10-15 Days) |
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Purchasing : |
Credit (15 Days ) |
PRODUCTION STATUS
|
Particulars |
|
|
|
Actual
Production |
|
Pulses |
|
|
|
120 Bags/ Day
Average |
GENERAL
INFORMATION
|
Suppliers : |
·
Deepak Pulses Industries ·
Gangan Trading Company ·
Gurudev Traders ·
Heda Traders ·
Laxmi Trading Company ·
Ramesh Traders ·
Purushottam Super Shop ·
Santoshi Dhanya Bhandar ·
Shrikrishna Anaj Bhandar ·
Yogesh Industries |
|
|
|
|
Customers : |
·
Arvind Kumar and Company ·
B.R. Rathi ·
Balaji Provision ·
Chamudeshwara Enterprises ·
Dadumal Motumal ·
Dhanalaxmi Kiran Stores ·
Hanuman Trading Company ·
Harichand Dadumal ·
Ishwar Traders ·
Jamandas Janimal ·
Kailash Anaj Bhandar ·
Kailash Trading Company ·
Madhuban Gorakshan ·
Mahalaxmi Anaj Bhandar ·
Maruti General Stores ·
Nandkishor Khandelwal ·
Narayandas Mangumal ·
Ramesh Dhanya Bhandar ·
Sagar Restaurant ·
Santosh Shahu ·
Shahu Traders ·
Somnath Agro Industries ·
Udhamdas Deomal Motwani ·
Uttam Trading Company ·
V.K. Traders ·
Vijay Anaj Bhandar ·
Vishwas Nitya Udyog Vastu |
|
|
|
|
No. of Employees : |
8 ( Office 2, Factory 6) |
|
|
|
|
Bankers : |
·
Akola Janta Commercial Co-operative Bank, Gandhi Bagh Nagpur ·
HDFC Bank |
|
|
|
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Facilities : |
CC Rs. 10.000 Millions |
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|
|
|
Banking
Relations : |
Satisfactory |
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|
|
|
Auditors : |
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|
Name : |
Taipuriya and Associates Chartered Accountant |
|
Address : |
23-A, Wholesale Cloth Market, Gandhi bagh Market, Nagpur, Maharashtra,
India |
|
Tel. No.: |
91-712-2763397 |
CAPITAL STRUCTURE
Capital Account
As on 31.03.2008
|
PARTICULARS |
AMOUNT Rs. In Millions |
PARTICULARS |
AMOUNT Rs. In Millions |
|
CR. |
|
DR. |
|
|
Opening Balance |
3.065 |
L.I.C. |
0.090 |
|
Interest From Saving A/G |
0.001 |
School Fees |
0.013 |
|
Share Dividend |
0.011 |
Mediclame Policy |
0.005 |
|
Profit From Plot Sale |
0.216 |
ING Vesya Life Insurance |
0.015 |
|
Deposit |
0.415 |
Income Tax |
0.015 |
|
Share of Profit |
0.131 |
Cheque Withdrawals |
0.107 |
|
|
|
Cash Withdrawals |
0.091 |
|
|
|
Closing Balance |
3.503 |
|
Total |
3.839 |
Total |
3.839 |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.503 |
3.066 |
2.437 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.503 |
3.066 |
2.437 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
15.891 |
22.803 |
15.627 |
|
|
2] Unsecured Loans |
1.468 |
2.867 |
1.715 |
|
|
TOTAL BORROWING |
17.359 |
25.670 |
17.342 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
20.862 |
28.736 |
19.779 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.764 |
1.417 |
1.448 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.480 |
0.475 |
0.218 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.560
|
17.651 |
14.721 |
|
|
Sundry Debtors |
1.800
|
8.231 |
4.179 |
|
|
Cash & Bank Balances |
0.319
|
0.821 |
0.144 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.818
|
3.989 |
3.568 |
|
Total
Current Assets |
22.497
|
30.692 |
22.612 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
3.879
|
3.848 |
4.499 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
3.879
|
3.848 |
4.499 |
|
|
Net Current Assets |
18.618
|
26.844 |
18.113 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
20.862 |
28.736 |
19.779 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
83.299 |
78.126 |
73.870 |
|
|
Other Income |
0.020 |
0.000 |
0.000 |
|
|
Total Income |
83.319 |
78.126 |
73.870 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.131 |
0.125 |
0.318 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
0.131 |
0.125 |
0.318 |
|
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
74.697 |
71.989 |
67.837 |
|
|
Accounting Charges |
0.020 |
0.018 |
0.016 |
|
|
Dalali Expenses |
0.229 |
0.233 |
0.423 |
|
|
Stationery Expenses |
0.007 |
0.000 |
0.010 |
|
|
Bank Commission |
0.578 |
0.099 |
0.104 |
|
|
Office Expenses |
0.311 |
0.269 |
0.240 |
|
|
Interest |
1.282 |
1.060 |
0.817 |
|
|
Insurance Expenses |
0.040 |
0.025 |
0.046 |
|
|
Depreciation & Amortization |
0.133 |
0.139 |
0.103 |
|
|
Other Expenditure |
5.891 |
4.169 |
3.956 |
|
Total Expenditure |
83.188 |
78.001 |
73.552 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
0.16
|
0.16 |
0.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.16
|
0.16 |
0.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.54
|
0.39 |
1.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.04 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.06
|
9.63 |
8.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.79
|
7.98 |
5.03 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Dadumal Motumal
Contact Name:
Mr. Tulsiyani
Address: Itwari Anaj Bazar, Nagpur
Tel No.: 91-712-2762546
·
Ramesh Anaj Bhandar
Contact Name: Mr. Agarwal
Address: Itwari Anaj Bazar, Nagpur
Tel No. : 91-712-2766727
·
Shankar Anaj Bhandar
Contact Name: Mr. Lalwani
Address: Itawari Anaj Bazar, Nagpur
Tel No.: 91-712-2762163
Fixed Assets:
·
Air Conditioner
·
Building and Shed
·
Car Purchase
·
Computer Purchase
·
Easy Call Pager Phone
·
Fax Machine
·
Furniture
·
Invertor
·
Land
·
Plant and Machinery
·
Scooter
·
Weight Machine
·
Plot At Ma Umiya ASV
INTRODUCTION OF THE PARTY
M/S YASH PULSES represented by prop. Sh.
Krishna Kumar Suresh Bhojwani operating a DALL MILL since 1993. The Mill is
situated in Wardhman Nagar, Small Factory Area; The Mill is working well since
inception with good financial track record.
The General Manager Sh. B.N. Satish has also
visited the unit during his recent visit to Nagpur and after detailed
discussions he instructed them to send the proposal to the office. The
applicant is having Net Worth of around of Rs. 20.000 Millions (including the
land and building of the mill). They are enjoying the limit of Rs. 10.000
Millions at present with the Akola Janta Comm. Co-operative Bank Limited,
Nagpur, and wanted To Shift it to the branch.
The Guaranter of the proposal is further of
the Prop. Sh. Suresh Bhojwani having Net worth of Rs. 20.000 Millions
(Rs. In Millions)
|
PARAMETERS |
CURRENT YEAR 20007-2008 |
PRECEDING YEAR 2006-2007 |
|
Paid up share capital/ capital of partners/
proprietor |
3.503 |
3.066 |
|
Share Application Money/ Current Account of
Partners or Proprietor |
-- |
-- |
|
Reserve and Surplus / Subcidy / Profit and Loss
A/c |
15.891 |
22.804 |
|
Secured Loan |
1.468 |
2.867 |
|
Unsecured Loan |
3.879 |
3.848 |
|
Current Liabilities and Provisions |
27.741 |
32.584 |
|
Total of Balance Sheet |
83.299 |
78.126 |
|
Gross Turnover |
4.618 |
3.926 |
|
Gross Profit |
0.003 |
-- |
|
Commission Received |
0.285 |
0.232 |
|
Commission Paid |
-- |
-- |
|
Interest Received |
1.282 |
1.059 |
|
Interest Paid |
0.133 |
0.139 |
|
Depreciation as per books account |
0.131 |
0.124 |
|
Net Profit (or Loss) before tax |
-- |
-- |
|
Taxes on income paid/ provided for in the
books |
|
|
PARTICULARS OF ALL
PAYMENT MADE TO PERSONS SPECIFIED IN SEC. 40 A (2) (B)
INTEREST PAYMENT
|
Name |
Amount Rs. In Millions |
|
Ajay R Agarwal |
0.033 |
|
Chandadevi Kabra |
0.004 |
|
Dattatray S Pipmpalpure |
0.004 |
|
Jagdish Dall Mill |
0.003 |
|
Jhawar and Company |
0.023 |
|
Kashish Trading Company |
0.004 |
|
Kiran Chandhak |
0.004 |
|
Kirti Vakhariya |
0.020 |
|
Nilesh Traders |
0.014 |
|
Rameshwarlal Hurkat |
0.004 |
|
Ramgopal Krishna Bhojwani |
0.018 |
|
Ritika Krishna Bhojwani |
0.024 |
|
Rukmani Kishan Sugandh |
0.027 |
|
Saraf Family Trust |
0.017 |
|
Satyabhamdevi N Kabra |
0.005 |
|
Yashwankumar S Bhojwani |
0.099 |
|
Total |
0.303 |
COMMISION
|
Name |
Amount Rs. In Millions |
|
Yashwankumar S. Bhojwani |
0.093 |
|
Total |
0.093 |
YASH PULSES
INDUSTRIES
NAGPUR
PARTICULARS OF
EACH LOAN OR DEPOSIT OF RS. 0.020 MILLIONS OR MORE
(Rs. In Millions)
|
Name and Address
of the Lender/ Depositor |
Whether amount
borrowed on hundi |
Whether loan
deposit was squared up during the year |
Maximum amount
outstanding at any time during the year |
Amount of loan
or deposits taken or accepted |
Amount of Repayment |
Whether loan/ deposit
was taken or accepted in cash |
Has any loan
deposit of Rs. 0.020 Million or more been repaid in cash |
|
Ajay R Agarwal |
No |
Yes |
0.500 |
0.533 |
0.533 |
No |
No |
|
Chandadevi Kabra |
No |
Yes |
0.100 |
0.104 |
0.104 |
No |
No |
|
Dattatray S Pimpalpure |
No |
Yes |
0.100 |
0.104 |
0.104 |
No |
No |
|
Jagdish Dall Mill |
No |
Yes |
0.200 |
0.203 |
0.203 |
No |
No |
|
Jhawar and Company |
No |
Yes |
0.500 |
0.523 |
0.523 |
No |
No |
|
Kashish Trading Company |
No |
Yes |
0.100 |
0.104 |
0.104 |
No |
No |
|
Kiran Chandhak |
No |
Yes |
0.200 |
0.204 |
0.204 |
No |
No |
|
Kiriti VAkhariaya |
No |
No |
0.300 |
0.320 |
0.120 |
No |
No |
|
Krishan S Bhojwani HUF |
No |
Yes |
0.028 |
0.028 |
0.028 |
No |
No |
|
Lalitkumar Om Agarwal |
No |
Yes |
0.200 |
0.200 |
0.200 |
No |
No |
|
Narayandas Mangaldas |
No |
Yes |
0.200 |
0.200 |
0.200 |
No |
No |
|
Nilesh Traders |
No |
Yes |
0.100 |
1.014 |
1.014 |
No |
No |
|
Rameshwarlal Hurkat |
No |
Yes |
0.100 |
0.104 |
0.104 |
No |
No |
|
Ramgopal krishna Bhojwani |
No |
Yes |
0.250 |
0.518 |
0.518 |
No |
No |
|
Ritika Krishna Bhojwani |
No |
No |
0.176 |
0.220 |
0.070 |
No |
No |
|
Rukani Kishna Sugandh |
No |
No |
0.200 |
0.227 |
0.027 |
No |
No |
|
Saraf Family Trust |
No |
Yes |
0.500 |
0.517 |
0.517 |
No |
No |
|
Satyabhamadevi N Kabra |
No |
Yes |
0.200 |
0.205 |
0.205 |
No |
No |
|
Sun Poly Trap O Private Lijmited |
No |
Yes |
0.720 |
0.720 |
0.720 |
No |
No |
|
Warshkumari S. Bhojwani |
No |
No |
0.290 |
0.291 |
Nil |
No |
No |
|
Yashwankumar S Bhojwani |
No |
No |
0.658 |
0.955 |
0.327 |
No |
No |
DETAILS OF
QUANTITY FOR YEAR ENDING ON 31.03.2008
|
Particulars |
Opening Stock |
Purchases |
M.F.G |
Total |
Process |
|
Toor |
6406.000 |
28026.370 |
-- |
34432.370 |
28632.370 |
|
Toor Dall |
591.000 |
1113.500 |
21597.900 |
23302.400 |
-- |
|
Toor chunni, Bhusi |
1300.000 |
0.000 |
6667.070 |
7967.070 |
-- |
|
Total |
8297.000 |
29139.870 |
28264.970 |
65701.840 |
28632.370 |
|
Sales |
Short Qty. |
Closing Stock |
Yield |
Shortage |
|
-- |
-- |
5800.000 |
-- |
-- |
|
23302.400 |
367.400 |
-- |
75.43% |
1.28% |
|
6243.070 |
-- |
1724.000 |
23.29% |
-- |
|
29545.470 |
367.400 |
7524.000 |
98.72% |
1.28% |
|
Items |
Opening Stock |
Purchases |
Sales |
Closing Stock |
||||
|
|
Qty |
Amount Rs. In Millions |
Qty |
Amount Rs. In Millions |
Qty |
Amount Rs. In Millions |
Qty |
Amount Rs. In Millions |
|
Moong Dall |
-- |
-- |
95.000 |
0.212 |
54.760 |
0.136 |
40.240 |
0.101 |
|
Moong Mogar |
-- |
-- |
272.000 |
0.798 |
-- |
-- |
272.000 |
0.898 |
|
Toor |
6406.000 |
13.453 |
28026.370 |
70.218 |
-- |
-- |
5800.000 |
15.527 |
|
Toor Dall |
591.000 |
1.950 |
1113.500 |
3.379 |
23302.400 |
78.281 |
-- |
-- |
|
Toor Chunni, Bhusi |
1300.000 |
2.249 |
-- |
-- |
6243.070 |
4.713 |
1724.000 |
1.036 |
|
Toor Khanda |
-- |
-- |
-- |
|
82.000 |
0.168 |
-- |
-- |
|
Total |
8297.000 |
17.652 |
29506.870 |
74.607 |
29682.230 |
83.299 |
7836.240 |
17.561 |
MR. KRISHNA SURESH BHOJWANI
STATEMENT OF ASSETS AND LIABILITIES:
Investment in Business Capital:
|
Name of the concern in which investment in made |
Amount invested Rs. In Millions |
|
Yash Pulses Industries |
3.503 |
Deposits held with Banks:
|
Name of Bank |
Nature of Deposit held |
Amount of
Deposit |
|
Punjab National Bank |
Saving A/C |
Rs. 0.057 Millions |
Immovable Properties:
|
Name of the owner |
Description of Property |
Location/ Address of property (Please furnish full details with survey No. door No. etc) |
Extent of Kand |
|
Mr. Krishnakumar Bhojwani |
Plot |
Plot No. 24 Kamna , Nagpur |
8000 sq.ft |
|
Extent of building area constructed |
Type of property i.e. whether residential/ agricultural/ industrial/
commercial etc |
Details of documents conferring right |
Date of purchase of property |
|
4000 sq.ft |
Industrial |
Lease Deed |
1990 |
|
Original purchase Cost (Rs. In Millions) |
Present market value as on |
Details of
encurninrances, if any, on the property |
|
0.563 |
15.000 |
Mortgage of Janta Akola Bank |
Other Assets:
(Rs. In Millions)
|
Nature/ Details of Assets |
Market value of assets as on 31.03.2008 |
Details of encumbrance,
if any |
|
Plant and Machinery |
Rs. 5.000 |
Hypothecation of Akola Janta Co-operativae
Bank |
Total Assets: Rs. 3.503 Millions
Net Worth: Rs. 23.503 Millions
ASSESSMENT OF
WORKING CAPITAL REQUIREMENTS
OPERATING
STATEMENT
(Rs. In Millions)
|
Particulars |
31.03.2009 Estimated |
31.03.2010 Projected |
|
1. Gross Sales |
|
|
|
(a) Domestic Sales |
90.000 |
100.000 |
|
(b) Other Income |
0.020 |
0.025 |
|
TOTAL |
90.020 |
100.025 |
|
|
|
|
|
2. Less Excise Duty |
0.000 |
0.000 |
|
|
|
|
|
3. Net Sales (1-2) |
90.000 |
100.000 |
|
|
|
|
|
4. %age of rise (+) or fall (-) in net sales
as compared to previous year. |
8% |
11% |
|
|
|
|
|
5. Cost fo Sales |
|
|
|
(i) Raw Materials (Including stores and
other items) |
|
|
|
(a) Imported |
|
|
|
(b) Indigenous |
84.333 |
92.084 |
|
(ii) Consumables |
1.839 |
2.004 |
|
(iii) Power and Fuel |
0.605 |
0.620 |
|
(iv) Direct Labour (Factory Wages and
Salaries) |
0.150 |
0.160 |
|
(v) Repairs and Maintenance |
0.300 |
0.350 |
|
(vi) Depreciation |
0.110 |
0.100 |
|
(vii) SUB-TOTAL (I To vii) |
87.337 |
95.318 |
|
(Viii) Add: Opening stock in process |
0.000 |
0.000 |
|
Sub Total |
87.337 |
95.318 |
|
(Ix) Less: Closing Stock in process |
0.000 |
0.000 |
|
(x) COST OF PRODUCTION |
87.337 |
95.318 |
|
|
|
|
|
(xi) Add: Opening stock in finished goods |
2.034 |
4.000 |
|
Sub – Total |
89.371 |
99.318 |
|
(xii) Less: Closing Stock of Finished goods |
4.000 |
4.200 |
|
(xiii) Sub-Total (Total cost of Sales) |
85.371 |
95.118 |
|
|
|
|
|
6. Selling general and administrative expenses |
2.900 |
3.000 |
|
7. SUB – TOTAL [5+6] |
88.271 |
98.118 |
|
8. Operation profit before interest [3-7] |
1.729 |
1.882 |
|
|
|
|
|
9. Interest |
1.300 |
1.350 |
|
10. Operating profit after interest [8-9] |
0.429 |
0.532 |
|
11 |
|
|
|
(i) Add other non-operating income |
0.000 |
0.000 |
|
(ii) Interest on Deposit and Miscellaneous
Receipts |
0.000 |
0.000 |
|
(iii) Deferred Tax |
0.000 |
0.000 |
|
|
|
|
|
SUB TOTAL (INCOME) |
0.000 |
0.000 |
|
|
|
|
|
(iii) Deduct other non-operating Expenses |
0.000 |
0.000 |
|
|
|
|
|
Sub –Total (Expenses |
0.000 |
0.000 |
|
|
|
|
|
(iii) Net of other non-operating income
expenses |
0.000 |
0.000 |
|
|
|
|
|
12 Profit before tax/ loss |
0.429 |
0.532 |
|
|
|
|
|
13 Provision for Taxes |
0.000 |
0.000 |
|
|
|
|
|
14 Net Profit |
0.429 |
0.532 |
|
|
|
|
|
15(a) Equity dividend paid |
0.000 |
0.000 |
|
(b) Dividend rate |
0.00% |
0.00% |
|
|
|
|
|
16 Retained Profit |
0.429 |
0.532 |
|
|
|
|
|
17 Retained profit/ Net Profit (%) |
100% |
100% |
ANALYSIS OF
BALANCE SHEET
(Rs. In Millions)
|
Particulars |
31.03.2009 Estimated |
31.03.2010 Projected |
|
CURRENT LIABILITIES |
|
|
|
01 Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
|
|
|
(i) From Application bank (Hypothecation) |
10.000 |
10.000 |
|
(ii) From Other Bank (Warehousing Finance) |
5.000 |
5.000 |
|
(iii) of which BP and BD |
|
|
|
|
|
|
|
Sub- Total (A) |
15.000 |
15.000 |
|
|
|
|
|
02 Short Term Borrowings from others |
|
|
|
|
|
|
|
03 Sundry creditors [Trade] |
4.000 |
4.000 |
|
04 Advance payments from customers / Deposits from
dealers |
0.000 |
0.000 |
|
05 Provision for tax [net of Tax paid] |
0.000 |
0.000 |
|
06 Dividend and Dividend Tax payable |
0.000 |
0.000 |
|
07 other statutory liabilities [due within one year] |
0.125 |
0.130 |
|
08 Deposits / Installments of term loans / DPGs /
debentures, etc [due within one year] |
0.000 |
0.000 |
|
09 Other current liabilities and provisions [due within
one year] |
0.000 |
0.000 |
|
|
|
|
|
Sub
– Total [B] |
4.125 |
4.130 |
|
|
|
|
|
10 TOTAL CURRENT LIABILITIES (A+ B) |
19.125 |
19.130 |
|
|
|
|
|
Term Liabilities |
|
|
|
|
|
|
|
11 Debentures (not maturing within one year) |
0.000 |
0.000 |
|
12 Preference Shares [Redeemable after 1 year] |
0.000 |
0.000 |
|
13 Term loans [excluding installments payable within
one year] |
0.000 |
0.000 |
|
14 Deferred Sales Tax / Deferred Loan Deferred Payment
Credit [Excluding installments due within one year] |
0.000 |
0.000 |
|
15 Term deposit [repayable after one year] |
0.000 |
0.000 |
|
16 other Term Liabilities |
0.000 |
0.000 |
|
17 TOTAL TERM LIABILITIES [Total of 11 to 16]19.125 |
0.000 |
0.000 |
|
18
TOTAL OUTSIDE LIABILITIES [10 + 17] |
19.125 |
19.130 |
|
19 Ordinary Shares Capital |
3.932 |
4.464 |
|
20 General Reserve |
0.000 |
0.000 |
|
21 Revaluation Reserve |
|
|
|
22 Other Loans/ Unsecured Loans Subsidy Provisions |
3.300 |
3.800 |
|
Subsidy Provisions |
0.000 |
0.000 |
|
23 Surplus (+) or deficit (-) in Profit and
Loss Account |
0.000 |
0.000 |
|
|
|
|
|
24 NET WORTH |
7.232 |
8.264 |
|
|
|
|
|
25 TOTAL LIABILITIES ( 18 + 24) |
26.357 |
27.394 |
|
|
|
|
|
ASSETS |
|
|
|
CURRENT ASSETS |
|
|
|
26 Cash and Bank Balance |
0.444 |
0.660 |
|
27 Investments [Other than long term investments] Government
and other Trustee securities |
|
|
|
I] Fixed deposit with bank |
0.000 |
0.000 |
|
II] Share with Co-operative Bank |
|
|
|
|
|
|
|
28 I] Receivables other than deferred and exports
[Including bills purchased and discounted by banks] |
2.500 |
2.900 |
|
II] Export receivables [Including bills purchased /
discounted by banks] |
0.000 |
0.000 |
|
|
|
|
|
29 Instalments of Deferred receivables [due within
one year] |
0.000 |
0.000 |
|
30 Inventory |
|
|
|
I] Raw materials [Including stores and other items used in
the process of manufacture] |
|
|
|
Imported |
0.000 |
0.000 |
|
Indigenous |
16.867 |
17.500 |
|
II] Stock – in – process |
0.000 |
0.000 |
|
II] Finished Goods |
4.000 |
4.200 |
|
IV] Other consumable spares |
|
|
|
Imported |
0.000 |
0.000 |
|
Indigenous |
0.000 |
0.000 |
|
|
|
|
|
Total |
20.867 |
21.700 |
|
|
|
|
|
31 Advances to Suppliers of Raw Material and
Stores / Spares |
0.000 |
0.000 |
|
32 Advance payment of Taxes |
0.000 |
0.000 |
|
33 Other current assets Misc. Advances |
0.412 |
0.100 |
|
(Specify major items) Investment |
0.000 |
0.000 |
|
|
|
|
|
34 TOTAL CURRENT ASSETS (26 to 33) |
24.223 |
25.360 |
|
FIXED ASSETS |
|
|
|
|
|
|
|
35 Gross Block ( Land and Building
Machinery, Work-in Process) |
2.036 |
2.036 |
|
|
|
|
|
36 Depreciation to date |
0.382 |
0.482 |
|
|
|
|
|
37 NET Block ( 35-36) |
1.654 |
1.554 |
|
|
|
|
|
OTHER NON-CURRENT ASSETS |
|
|
|
|
|
|
|
38 Investments / book / debts / advances / deposits which
are not Current Assts |
|
|
|
I] [a] Others Investments in Subsidiary |
0.480 |
0.480 |
|
[b] Others companies / affiliates |
|
|
|
II] Advances to suppliers of capital goods and contractors
|
0.000 |
0.000 |
|
III} Deferred receivables [maturity exceeding one year] |
0.000 |
0.000 |
|
IV] Others |
0.000 |
0.000 |
|
39 Non consumables Stores and Spares |
0.000 |
0.000 |
|
40 Other non – current assets including dues from
directors |
0.000 |
0.000 |
|
|
|
|
|
41
TOTAL OTHER NON – CURRENT ASSETS [total of 38 to 40] |
0.480 |
0.480 |
|
42 Intangible assets [Patents, goodwill, prelim, expenses,
bad / doubtful debts Not provided for etc.] |
0.000 |
0.000 |
|
|
|
|
|
43 TOTAL ASSETS [Total of 34, 37, 41 and 42] |
26.357 |
27.394 |
|
44 TANGIBLE NET WORTH [24-22] |
7.232 |
8.264 |
|
45 NET WORKING CAPITAL |
5.098 |
6.230 |
|
[17 + 24]-[37+41+42] |
|
|
|
to tally with [34-10] |
|
|
|
|
|
|
|
46 Current Ratio [Items 34/10] |
0.127 |
0.133 |
|
47 Total outside liabilities / Tangible |
0.127 |
0.133 |
|
NET WORTH ( 18/44) |
0.264 |
0.231 |
COMPARITIVE STEMENT
OFCURRENT ASETS AND CURRENT LIABILITIES
(Rs. In Millions)
|
Particulars |
31.03.2009 Estimated |
31.03.2010 Projected |
|
1 Raw Material (including stores and other
items used in the process of manufacture) |
|
|
|
(a) Imported |
0.000 |
0.000 |
|
Month’s Consumption |
|
|
|
(b) Indigenous |
16.867 |
17.500 |
|
Month’s Consumption |
|
|
|
|
|
|
|
2 Other consumable spares, excluding those
included in 1 above |
|
|
|
|
|
|
|
(a) Imported |
0.000 |
0.000 |
|
Month’s Consumption |
|
|
|
(b) Indigenous |
0.000 |
0.000 |
|
|
|
|
|
3. Stock in process |
0.000 |
0.000 |
|
Month’s cost of sales |
|
|
|
|
|
|
|
4 Finished goods |
4.000 |
4.200 |
|
Month’s Cost of Sales |
|
|
|
|
|
|
|
5 Receivables other than export and deferred
receivables (including bills purchased and discounted by bankers) |
2.500 |
2.900 |
|
Month’s domestic sales : excluding deferred
payment sales |
|
|
|
|
|
|
|
6 Export receivable (including bills
purchase and discount) |
0.000 |
0.000 |
|
Month’s Export Sales |
|
|
|
|
|
|
|
7 Advance to suppliers or raw material and
stores/ spares consumable |
0.000 |
0.000 |
|
|
|
|
|
8 Other current assets including cash and
bank balance, deferred receivables due within on year (specify major items) |
0.856 |
0.760 |
|
|
|
|
|
9 TOTAL CURRENT ASSETS |
24.223 |
25.360 |
|
(To agree with item 34 in Form III) |
|
|
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
(Other than bank borrowing for working
capital) |
|
|
|
|
|
|
|
10 Creditors for purchase of raw materials,
stores and consumable spares |
4.000 |
4.000 |
|
Month’s purchase |
|
|
|
|
|
|
|
11 Advances from customers |
0.000 |
0.000 |
|
|
|
|
|
12 Other current liabilities (Specify major items)
Short term borrowings, unsecured loans, dividend payable, installments of TL
DPG, Public deposits, debentures etc. |
0.125 |
0.130 |
|
|
|
|
|
13 TOTAL CURRENT LIABILITIES (To agree with Sub-Total B From – III) |
4.125 |
4.130 |
COMPUTATION OF
MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(Rs. In Millions)
|
Particulars |
31.03.2009 Estimated |
31.03.2010 Projected |
|
1 Total Current Assets ( 9 in form IV) |
24.223 |
25.360 |
|
|
|
|
|
2 Other Current Liabilities |
4.125 |
4.130 |
|
(Other than bank borrowing) |
|
|
|
(14 of From IV) |
|
|
|
|
|
|
|
3 Working Capital Gap (WCG) |
20.098 |
21.230 |
|
(1-2) |
|
|
|
|
|
|
|
4 Min. Stipulated net working capital i.e. 25%
of WCG / 25% of Total current assets as the case may be depending upon the
method of lending being applied (Export receivables to be excluded under both
methods) |
5.024 |
5.308 |
|
|
|
|
|
5 Actuals / Projected net working capital |
5.098 |
6.230 |
|
|
|
|
|
6 Item 3 Minus item 4 |
15.073 |
15.923 |
|
|
|
|
|
7 Item 3 minus item 5 |
15.000 |
15.000 |
|
|
|
|
|
8 Maximum Permissible bank finance |
15.000 |
15.000 |
|
|
|
|
|
9 Excess borrowing representing short fall
in NWC |
0.000 |
0.000 |
FUND FLOW
STATEMENT
(Rs. In Millions)
|
Particulars |
31.03.2009 Estimated |
31.03.2010 Projected |
|
1 SOURCES |
|
|
|
(a) Net Profit (After Tax) |
0.429 |
0.532 |
|
(b) Depreciation |
0.110 |
0.100 |
|
(c) Increase in Capital / Incentive |
0.000 |
0.000 |
|
(d) Increase in Term Liabilities (including
Public Deposits) |
0.000 |
0.000 |
|
(e) Decrease in |
|
|
|
(i) Fixed Assets |
0.000 |
0.000 |
|
(ii) Other Non-Current Assets |
0.000 |
0.000 |
|
(iii) Others |
1.832 |
0.500 |
|
|
|
|
|
TOTAL |
2.371 |
1.132 |
|
|
|
|
|
2 USES |
|
|
|
(a) Net Loss |
0.000 |
0.000 |
|
(b) Decrease in Term Liabilities (Including
Public Deposits) |
0.617 |
0.000 |
|
(c) Increase in |
|
|
|
(i) Fixed Assets |
0.000 |
0.000 |
|
(ii) Other Non-current Assets |
0.001 |
0.000 |
|
(d) Dividend Payments |
0.000 |
0.000 |
|
(e) Other Decrease in Capital |
0.000 |
0.000 |
|
|
|
|
|
TOTAL |
|
|
|
|
|
|
|
3 Long Term Surplus ( +) Deficit (-) (1-2) |
1.753 |
1.132 |
|
|
|
|
|
4 Increase/ Decrease in current assets |
1.726 |
1.137 |
|
(as per details in current liabilities other
than bank borrowing) |
|
|
|
|
|
|
|
5 Increase/ Decrease in current liabilities
other than Bank borrowing |
0.246 |
0.005 |
|
|
|
|
|
6 Increase/ Decrease in working capital GAP |
1.480 |
1.132 |
|
|
|
|
|
7 Net Surplus (+) / deficit (-) |
0.273 |
0.000 |
|
(Difference of 3 and 6) |
|
|
|
|
|
|
|
8 Increase / Decrease in Bank borrowing |
[0.273] |
0.000 |
|
INCREASE / DECREASE IN NET SALES |
10.000 |
211.837 |
|
|
|
|
|
Break of (4) |
|
|
|
|
|
|
|
(i) Increase / Decrease in Raw Materials |
1.340 |
0.633 |
|
(ii) Increase/ Decrease in Stock-in –process |
0.000 |
0.000 |
|
(iii) Increase / Decrease in Finished goods |
1.966 |
0.200 |
|
(iv)Increase/ Decrease in Receivables |
0.701 |
0.400 |
|
(a) Domestic |
0.000 |
0.000 |
|
(b) Export |
0.000 |
0.000 |
|
(v) Increase/ Decrease in stores and Spares |
[2.406] |
[0.312] |
|
(vi) Increase/ Decrease in other current
assets |
0.000 |
0.000 |
|
(vii) Increase / Decrease in cash and Bank
balance |
0.125 |
0.216 |
|
Total |
1.726 |
1.137 |
|
Increase/ Decrease under items 4 to 8 as
also under |
||
|
(4) Should be indicate by (+) (-) |
0.000 |
0.000 |
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.50.52 |
|
UK Pound |
1 |
Rs.75.08 |
|
Euro |
1 |
Rs.63.72 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|