MIRA INFORM REPORT
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Report Date : |
10.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAXIMUMS MODULAR SYSTEMS |
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Registered Office : |
Plot No. 69/70, Pednekar Industrial Estate, Gate No. 1, Umella Phata,
Papdy Industrial Estate, Vasai [West], Thane – 401207, Maharashtra,
India |
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Country : |
India |
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Date of Incorporation : |
01.09.2008 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer of Modular Furniture and its Components. |
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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Status : |
New Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern promoted by experienced and respectable
promoters having satisfactory means of their own. Trade relations are fair.
No complaints have been heard. In view of the satisfactory financial position of the partners,
concern can be considered normal for business dealings. However, it would be advisable to take adequate securities white
dealing with the subject. |
LOCATIONS
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Registered Office : |
Plot No. 69/70, Pednekar Industrial Estate, Gate No. 1, Umella Phata,
Papdy Industrial Estate, Vasai [West], Thane – 401207, Maharashtra,
India |
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Mobile No.: |
91-9820804619 / 9890586693 |
PARTNERS
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Name : |
Mr. Pradeep Dungarraj Kawedia |
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Designation : |
Partner |
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Address : |
C/211, Shubh Kamana Apartment, Near Kamla Vihar Club, Mahavir Nagar,
Kandivali [West], Mumbai – 400067, Maharashtra, India |
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PAN No.: |
AFKPK6056K |
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Date of Birth/Age : |
19.10.1971 |
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Name : |
Smt. Priti Pradeep Kawedia |
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Designation : |
Partner |
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Address : |
C/211, Shubh Kamana Apartment, Near Kamla Vihar Club, Mahavir Nagar,
Kandivali [West], Mumbai – 400067, Maharashtra, India |
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PAN No.: |
ALRPK7065M |
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Date of Birth/Age : |
13.06.1974 |
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Name : |
Mr. Dungarraj Motilal Kawedia |
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Designation : |
Partner |
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Address : |
4/204, Rambaug Co-op Housing Society Limited, Near Eye Hospital,
Parnake Azad Road, Vasai [West], Thane – 401201 |
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PAN No.: |
AGRPK9066D |
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Name : |
Mr. Abhishek S. Punamiya |
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Designation : |
Partner |
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Address : |
E – 6, Surat Textiles Market, Ring Road, Surat – 395002 |
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PAN No.: |
AIXPP7149J |
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Date of Birth/Age : |
09.05.1981 |
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Name : |
Mrs. Sanjay R. Shah |
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Designation : |
Partner |
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Address : |
Zenda Bazar, Opposite Jain Temple, Vasai [West], Thane – 401201 |
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PAN No.: |
AFCPS7794A |
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Date of Birth/Age : |
15.09.1972 |
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Name : |
Mrs. Deepali S. Shah |
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Designation : |
Partner |
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Address : |
01, Behind M. K. Shah Jewellers, Zenda Bazar, Vasai [W], Thane –
401201 |
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PAN No.: |
ACEPK3368B |
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Date of Birth/Age : |
30.09.1974
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BUSINESS DETAILS
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Line of Business : |
Manufacturer of Modular Furniture and its Components. |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
-- |
FINANCIAL DATA
[all figures are in Rupees Millions]
New Company
LOCAL AGENCY
FURTHER INFORMATION
PROJECT
AT A GLANCE
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COST OF PROJECT |
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Plant and Machinery |
Rs. 5.110 Millions |
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MEANS OF FINANCE
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Repayment of Loan |
7 Years |
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Interest on Term Loan |
13.00 % |
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Raw Material Requirement |
Medium Density fibre Board, Marine ply, etc. |
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FINANCE REQUIRED |
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Term Loan |
Rs. 4.000 Millions |
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Expected Date of commencement of Production |
1st December, 2008 |
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INTRODUCTION 1.
TERM FIRM Maximum Modular System is a partnership firm established on 1st
September 2008 under the Indian Partnership Act with the objective to set up
an unit to Manufacturer Modular Furniture. The registered office of the firm
is situated at Plot No 69-70, Pednekar Industrial Estate, Umela Phatta, Vasai
[West], District – Thane – 401207 2.
DETAILS OF PROJECT PROPOSED TO BE UNDERTAKEN The firm at present is in the process to establish a unit to
manufacture Modular Furniture and it’s components. To capitalize on the said opportunity, the Firm has proposed to set up
a manufacturing unit of Modular Furniture at Plot No. 69/70, Pednekar
Industrial Estate, Umela Phata, Papdy, Vasai [West], Thane – 401207. The
final products of the proposed project will be sold to retail outlets of
Modular Furniture. 3.
ACHIEVEMENTS / PROGRESS MADE SO FAR The firm has already taken the factory gala on Leave and Licence basis
for a period of 24 months for the said project. It has also finalized the
suppliers of machineries. 4.
IMPLEMENTATION SCHEDULE Latest Completion
Date
5.
LOCATIONAL BENEFITS ·
Easy availability of raw material ·
Water is easily to the industrial area ·
Availability Of skilled and semi-skilled labour from nearby areas at
comparatively cheaper wages. ·
All the modern communication facilities are also available ·
Well developed State Transport services are easily available ·
Vasai being close to Mumbai, which is the hearts of the markets, all
the national markets are easily accessible ·
Lower Power Cost 6.
RATIONAL BEHIND THE PROJECT With the shift from the traditional furniture to modern kitchen
shutters, the demand for modern furniture material is on the upswing. The
increased use of modern shutters for household and commercial purpose instead
of traditional furniture has resulted a great opportunity for the
entrepreneurs of small and medium size to venture into this field. The partners are already in the said segment and have gained
widespread recognition for its modern kitchen cabinets and other related
items in Mumbai and other near by areas. Thus the decision of the firm to
manufacture kitchen cabinets would prove to the rewarding in the future. |
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MANAGEMENT
EVOLUTION
- PARTNERS AND OTHER BACKGROUND
The company is
managed by the Partners comprising of the following persons :
MR. PRADEEP
KAWEDIA
Mr. Pradeep Kawedia, aged 37 years, is a businessman having rich
experience in the Kitchen Furniture business. By qualification he is a Chemical
Engineer, residing at C-211 Shubh Kamna Apt, Mahavir Nagar, Near Kamla Vihar
Club, Kandivali [W]
Mr. Dungarraj
Kawedia
Mr. Dungarraj Kawedia, aged 58 years, Father of Mr. Pradeep Kawedia, is
a very energetic and enthusiastic person. He is owner of Kawedia Jewellers. He
has earned very good reputation in the market over the period and he will manage
all administrative works of the firm. Residing at 4, Rambaug co-op Housing
Society, Parnaka, Azad Road, Vasai [West]
Mr. Sanjay Shah
Mr. Sanjay Shah, aged 36 Years, is a dynamic young person. He has good
hands of knowledge of the field and also has well known Motilal Kasturchand
Shah and Sons Jewellery Shop at Vasai. By qualification he is Electronic
Engineer Residing at Zenda Bazar, Opp: Jain Temple, Vasai [West]
Mr. Abhishek
Punamiya
Mr. Abhishek Punamiya, aged 27 years, Counsin of Mr. Pradeep Kawedia, is
a very energetic and enthusiastic person. He is the man behind the overall
functioning, sales and marketing. By qualification he is M. Com. Residing a E –
6, Surat Textile Market Ring Road, Surat – 395002
The other partners of the firm are Mrs. Priti Kawedia and Mrs. Deepali
Shah who will assist the partners in handling day today activities of the
business.
- NETWORTH OF PARTNERS
Rs in Millions
|
SR. NO. |
NAME OF THE
PARTNERS |
AGE |
NET WORTH AS ON 31.03.2008 |
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1 |
Mr. Pradeep D. Kawedia |
37 |
4.514 |
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2 |
Smt. Priti P Kawedia |
34 |
0.562 |
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3 |
Mr. Dungrraj M. Kawedia |
58 |
0.091 |
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4 |
Mr. Abhishek S. Punamiya |
27 |
1.541 |
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5 |
Mr. Sanjay M. Shah |
36 |
0.091 |
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6 |
Smt. Deepali S. Shah |
34 |
4.031 |
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Total |
|
10.830 |
- DETAILS OF GROUP CONCERNS
KITCHEN BOUTIQUE
Kitchen Boutique is a proprietary concern of Mr. Bharat D. Kawedia. The
firm is engaged in the business of dealing in modern furniture items viz.
kitchen cabinet and other house furniture items. The product today have high
demand in Mumbai and other near ny areas. Firm is situated at Trimurti Center,
Opp: B. C.C. Bank Limited, Manickpur Branch, Station Road, Vasai [West]. The
firm during the year ended March 2008 had achieved and turnover of Rs. 18.491
Millions with Net Profit of Rs. 0.769 Millions. The firm currently banking with
B.C.C. Bank, Vasai [W] Branch and enjoy credit facilities of Rs. 0.700 Million
from the said Bank.
VARUN IMPEX
Varun Impex is Partnership firm with the main object of carrying on
business of dealing in kitchen and other related furniture items. The firm is
managed by Pradeep D. Kawedia, Abhishek S. Punamiya, Dungarraj M. Kawedia. Firm
was established from 12th October 2007. Firm office is situated 216,
Purvee Chambers, Near Nagar parishad Office, Vasai [West] and Presently Banking
with Corporation Bank, Vasai [West] Branch and HDFC Bank Limited, Mahavir Nagar
Kandivali [West].
The firm imports kitchen accessories and components from counties like
Germany and Italy. Has also taken distributorship from Green Ply Limited. The firm
during the year ended March 2008 had achieved Turnover of Rs. 1.369 Millions
with he Net Profit of Rs. 0.029 Million
NIRVANA MODULAR
SYSTEMS
Nirvana Modular System is formed on 9th September, 2007 the
main business of the firm is manufacturing of modular furniture and its
components. The firm is Managed and control by Bharat D. Kawedia, Rakesh A.
Khokhani and Shantilal D. Punamiya.
TECHNICAL
EVALUATION
PRODUCT
Main Product and their advantages :
The Firm propose to manufacturer kitchen cabinets and other related
furniture items meant for various household and commercial purpose. The Main
advantages over traditional item are :
It is right thing that suits the changing needs of the customers.
It is readily available and reduces the restriction of time availability
It gives the recognition of status bin the society.
It has better quality and more shelf life.
RAW MATERIALS
MAIN RAW MATERIALS
REQUIRED
The main raw material required for the proposed project are Medium
Density fibre boards, Marine Ply, PVC Edge brands PVA Glue, High Pressure and
Post form grade laminates and other related items.
ARRANGEMENTS MADE
FOR PROCUREMENT OF RAW MATERIALS
The materials are available indigenously in large quantities. The
material is indigenously manufactured by many companies, which have wide
distribution network from where delivery can be picked up.
MARKETING
ARRANGEMENTS
The firm is promoted by the partners, having business interest in the
furniture house hold segment plastic industry fro more than 5 years. The
partners are already engaged in the similar line of business in their existing
concern viz; Kitchen Boutique and S. K. Enterprises and therefore the partners
do not foresee any problems in marketing of the products.
The firm has already has marketing set up and regular supply is made to
Sleek International which will also procure the maximum production of the firm.
Further the partners are in process to attract new customers by advertising and
other medias.
The firm also has the following advantages to overcome their
competitors.
- Lower Overheads :
The firm’s overheads would be lower than the offer entities as the
partners who are experts in the field of furniture’s themselves manage the
affairs of the firm, thus considerably reducing the cost of hiring experts.
- Locational Benefits :
The firm being situated at Vasai has locational advantages as discussed
earlier in this report.
- Existing Market set-up
Over the years the partners has developed a wide customers base, which will
enable it to sell the additional products.
GROWTH AND DEMAND
OF THE PRODUCT
The modern furniture segment in India has grown steadily over the years
with economic growth and improvement in the standard of living of middle and
upper middle class. Also, because of their unique, versatile and wide ranging
properties, they have been widely accepted as an extremely economically viable
market. Hence, it is not surprising that they are now the material of choice in
several applications.
Furniture is widely used for commercial as well as household purposes.
Consumption of the same are also linked with the industrial and economic growth
of the country. With the economy now gearing up for higher growth rates and
said segment is likely to grow at much higher rates and the demand for the same
varies directly with increase in population, consumerism and advertising.
Moreover, the Indian consumer has always demanded products that can
compete with the best in the world. A burgeoning middle class with high disposable
incomes has doubled the growth in the end use consumption sectors. India also
has a large rural population that may be in a different geographic location
from urbanities but is similar in their ownership, preferences and spending
habits. With sustained economic growth this group now has increasing disposable
income. This is an indicator for higher usage of modern furniture’s in the
years to come.
Further with government giving more benefits to housing loan at cheaper
rates there is a thrust in the demand in housing sector. The growing demand in
the housing sector will increase the demand of the product and therefore the
future of the said industry is high.
COST
OF PROJECT
Rs in Millions
|
Indegeniuos
Plant and Machinery |
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|
J-3400 Spindle Moulder Snt |
0.175 |
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J-2400 Post Forming |
0.438 |
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Pc Pnematic Clamping For Sliding Panel Saw |
0.032 |
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J-50t Hydraulic Cold Press |
0.485 |
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Dc-31 Dust Collector |
0.060 |
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Si 300 Nova Panel Saw |
0.478 |
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Multitech 3 Plus Multiple Boring |
0.816 |
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Throughfeed Edgebanding Machine |
2.240 |
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Air Compressor and Air Dryer |
0.212 |
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Auxilary Machinery – Mitre Saw / router |
0.075 |
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Tooling For Machinery |
0.100 |
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Total Cost of
Project |
5.111 |
MEANS
OF FINANCE
|
PROMOTERS AND
OWNER’S CONTRIBUTION |
|
|
Partners Capital Account |
1.110 |
|
Sub Total |
1.110 |
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PROPOSED LOAN |
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Corporation Bank |
4.000 |
|
Sub Total |
4.000 |
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Total Means of
Finance |
5.110 |
OPERATING
STATEMENT
Rs in Millions
|
PARTICULARS |
ESTIMATED |
PROJECTED |
|
|
|
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
1.
Gross Sales |
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Sales – Export |
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Sales – Local |
5.500 |
18.000 |
22.500 |
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Total |
5.500 |
18.000 |
22.500 |
|
2.
Net Sales [1-2] |
5.500 |
18.000 |
22.500 |
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3. Other Income |
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Total Income |
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4. %
rise [+] or fall [-] in net sales as compared to previous year |
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5.
COST OF SALES |
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i] Raw Materials [Including stores and other items used in
the process of manufacture] |
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[a] Imported |
3.465 |
12.731 |
16.204 |
|
[b] Indigenous |
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ii] Job work and other manufacturing expenses |
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iii] Other Spares |
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[a] Imported |
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[b] Indigenous |
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iv] Power and Fuel |
0.135 |
0.320 |
0.519 |
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v] Direct labour |
0.289 |
0.591 |
0.709 |
|
[Factory Wages and Salaries] |
|
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vi] Depreciation |
0.383 |
0.709 |
0.603 |
|
vii] SUB TOTAL [i to iv] |
4.272 |
14.351 |
18.035 |
|
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viii] Add : Opening Stocks – in – process |
0.000 |
0.292 |
0.328 |
|
Sub Total |
4.272 |
14.643 |
18.363 |
|
ix] Deduct : Closing Stock – in – Process |
0.292 |
0.328 |
0.409 |
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x] Cost of production |
3.980 |
14.315 |
17.954 |
|
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xi] Add : Opening Stock of finished goods |
-- |
-- |
-- |
|
Sub – total |
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xii] Deduct: Closing Stock – in - finished goods |
-- |
-- |
-- |
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xiii] Total Cost of Sales |
3.980 |
14.315 |
17.954 |
|
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6.
Selling general and administrative expenses |
1.063 |
2.087 |
2.294 |
|
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7.
SUB – TOTAL [5+6] |
5.043 |
16.402 |
20.248 |
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8.
Operation profit before interest [3-7] |
0.457 |
1.598 |
2.252 |
|
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9.
Interest |
0.213 |
0.478 |
0.422 |
|
10.
Operating profit after interest [8-9] |
0.244 |
1.120 |
1.830 |
|
11.
i] Add : other non-operating income |
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Sub – total [Income] |
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ii] Deduct other non-operating expenses |
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Sub total [Expenses] |
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iii] Net of other non-operating income / expenses |
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12.
Profit before tax / Loss [10+11[iii]] |
0.244 |
1.120 |
1.830 |
|
13.
Provision for taxes |
|
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|
Partners Salary |
|
|
|
|
|
|
|
|
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14.
Net profit / loss [12-13] |
0.244 |
1.120 |
1.830 |
|
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|
15
[a] Equity Dividend Paid |
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[b] Dividend Rate |
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16.
Retained profit [14-15] |
0.244 |
1.120 |
1.830 |
|
17.
Retained profit / Net profit [%] |
10.000 |
10.000 |
10.000 |
ANALYSIS
OF BALANCE SHEET
|
PARTICULARS |
ESTIMATED |
PROJECTED |
|
|
|
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
01 Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
I] Cash Credit |
-- |
-- |
-- |
|
|
|
|
|
|
Sub Total [A] |
|
|
|
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02 Short Term Borrowings from others |
|
|
|
|
03 Sundry creditors [Trade] |
0.184 |
0.417 |
0.596 |
|
04 Advance payments from customers / Deposits from
dealers |
-- |
-- |
-- |
|
05 Provision for tax [net of Tax paid] |
-- |
-- |
-- |
|
06 Dividend and Dividend Tax payable |
-- |
-- |
-- |
|
07 other statutory liabilities [due within one year] |
-- |
-- |
-- |
|
08 Deposits / Installments of term loans / DPGs /
debentures, etc [due within one year] |
0.398 |
0.454 |
0.516 |
|
09 Other current liabilities and provisions [due within
one year] |
-- |
-- |
-- |
|
|
|
|
|
|
Sub – Total [B] |
0.582 |
0.871 |
1.112 |
|
10 TERM LIABILITIES [Total of 1 to 9] |
0.582 |
0.871 |
1.112 |
|
|
|
|
|
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11 Debentures [not maturing within one year] |
-- |
-- |
-- |
|
12 Preference Shares [Redeemable after 1 year] |
-- |
-- |
-- |
|
13 Term loans [excluding installments payable within
one year] |
3.480 |
3.026 |
2.510 |
|
14 Deferred Sales Tax / Deferred Loan Deferred Payment
Credit [Excluding installments due within one year] |
-- |
-- |
-- |
|
15 Term deposit [repayable after one year] |
-- |
-- |
-- |
|
16 other Term Liabilities |
-- |
-- |
-- |
|
17 TOTAL TERM LIABILITIES [Total of 11 to 16] |
3.480 |
3.026 |
2.510 |
|
18 TOTAL OUTSIDE LIABILITIES [10 + 17] |
4.062 |
3.397 |
3.622 |
|
|
|
|
|
|
NET WORTH |
|
|
|
|
19 Proprietor’s Capital Account |
-- |
-- |
-- |
|
20 General Reserve |
-- |
-- |
-- |
|
21 Revaluation Reserve |
-- |
-- |
-- |
|
22 Other Reserves [Excluding provisions] |
-- |
-- |
-- |
|
23 Surplus [+] or deficit [-] in Profit and Loss Account |
-- |
-- |
-- |
|
|
|
|
|
|
Less : Drawings |
|
|
|
|
|
|
|
|
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24 NET WORTH [19+23] |
1.633 |
2.466 |
3.954 |
|
25 TOTAL LIABILITIES [18+24] |
5.695 |
6.363 |
7.576 |
|
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CURRENT ASSETS |
|
|
|
|
|
|
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26 Cash and Bank Balance |
0.056 |
0.962 |
2.541 |
|
27 Investments [Other than long term investments]
Government and other Trustee securities |
|
|
|
|
I] Fixed deposit with bank |
-- |
-- |
-- |
|
II] Share with Co-operative Bank |
-- |
-- |
-- |
|
|
|
|
|
|
28 I] Receivables other than deferred and exports
[Including bills purchased and discounted by banks] |
0.223 |
0.683 |
0.826 |
|
II] Export receivables [Including bills purchased /
discounted by banks] |
-- |
-- |
-- |
|
29 Instalments of Deferred receivables [due within
one year] |
-- |
-- |
-- |
|
30 Inventory |
|
|
|
|
I] Raw materials [Including stores and other items used in
the process of manufacture] |
-- |
-- |
-- |
|
Imported |
|
|
|
|
Indigenous |
0.147 |
0.122 |
0.135 |
|
II] Stock – in – process |
0.292 |
0.326 |
0.409 |
|
II] Finished Goods |
-- |
-- |
-- |
|
IV] Other consumable spares |
-- |
-- |
-- |
|
Imported |
|
|
|
|
Indigenous |
|
|
|
|
31 Advances recordable in Cash or kind |
-- |
-- |
-- |
|
32 Advance payment of taxes [NET] |
-- |
-- |
-- |
|
33 Excise and Sales Tax Refund |
-- |
-- |
-- |
|
Other current assets |
0.250 |
0.250 |
0.250 |
|
34 TOTAL CURRENT ASSETS [Total of 26 to 33] |
0.968 |
2.345 |
4.161 |
|
FIXED ASSETS |
|
|
|
|
35 Gross Block |
5.110 |
4.727 |
4.018 |
|
36. Depreciation to date |
0.383 |
0.709 |
0.603 |
|
|
|
|
|
|
37 NET BLOCK [35-36] |
4.727 |
4.018 |
3.415 |
|
|
|
|
|
|
OTHER NON – CURRENT ASSETS |
|
|
|
|
38 Investments / book / debts / advances / deposits which
are not Current Assts |
|
|
|
|
I] [a] Others Investments in Subsidiary |
-- |
-- |
-- |
|
[b] Others companies / affiliates |
-- |
-- |
-- |
|
II] Advances to suppliers of capital goods and contractors
|
-- |
-- |
-- |
|
III} Deferred receivables [maturity exceeding one year] |
-- |
-- |
-- |
|
IV] Others |
|
|
|
|
39 Non consumables Stores and Spares |
-- |
-- |
-- |
|
40 Other non – current assets including dues from
directors |
-- |
-- |
-- |
|
|
|
|
|
|
41 TOTAL OTHER NON – CURRENT ASSETS [total of 38 to 40] |
-- |
-- |
-- |
|
42 Intangible assets [Patents, goodwill, prelim, expenses,
bad / doubtful debts Not provided for etc.] |
-- |
-- |
-- |
|
|
|
|
|
|
43 TOTAL ASSETS [Total of 34, 37, 41 and 42] |
5.695 |
6.363 |
7.576 |
|
44 TANGIBLE NET WORTH [24-22] |
1.633 |
2.466 |
3.954 |
|
45 NET WORKING CAPITAL |
0.386 |
1.474 |
3.049 |
|
[17 + 24]-[37+41+42] |
0.386 |
1.474 |
3.049 |
|
to tally with [34-10] |
|
|
|
|
|
|
|
|
|
46 Current Ratio [Items 34/10] |
1.66 |
2.69 |
3.74 |
|
47 Total Outside Liabilities / Tangible Net Worth |
2.49 |
1.58 |
0.92 |
FUND FLOW STATEMENT
Rs in Millions
|
PARTICULARS |
|
PROJECTED |
|
|
|
|
31.03.2010 |
31.03.2011 |
|
|
|
|
|
|
SOURCES |
|
|
|
|
1 Net Profit [after tax] |
|
1.120 |
1.830 |
|
[a] Depreciation |
|
0.709 |
0.603 |
|
[b] Increase in [i] Partner’s Capital |
|
(0.288) |
(0.342) |
|
[c] [ii] Other Term Liabilities |
|
-- |
-- |
|
Increase in Unsecured Loans |
|
|
|
|
[d] Increase in Deferred Payment Credits Decrease in |
|
-- |
-- |
|
[e] Other non-current assets |
|
-- |
-- |
|
Fixed Assets |
|
|
|
|
[f] Others |
|
-- |
-- |
|
|
|
|
|
|
[g] TOTAL |
|
1.541 |
2.091 |
|
|
|
|
|
|
2 USES [a] Net Loss |
|
|
|
|
[b] Decrease in Term Liabilities [Including A Closely Held Public
Limited Liability Company Deposits] |
|
0.454 |
0.516 |
|
[c] Increase in |
|
-- |
-- |
|
Other Non Current Assets |
|
|
|
|
Fixed Assets [Net] |
|
|
|
|
[d] Dividend |
|
-- |
-- |
|
[e] Others |
|
-- |
-- |
|
|
|
|
|
|
[f] Total |
|
0.454 |
0.516 |
|
|
|
|
|
|
3 Long – Term Surplus [+] / Deficit [-] [Item 1 minus Item
2] |
|
1.087 |
1.575 |
|
|
|
|
|
|
4 Increase / Decrease in Current Assets [As per details
given below] |
|
1.377 |
1.816 |
|
|
|
|
|
|
5 Increase / Decrease in Current Liabilities other than
bank borrowings. |
|
0.289 |
0.241 |
|
|
|
|
|
|
6 Increase / Decrease in Working Capital Gap |
|
1.088 |
1.575 |
|
|
|
|
|
|
7 Net Surplus [+] / Deficit [-] [Difference of 3 & 6] |
|
0.001 |
0.000 |
|
|
|
|
|
|
8 Increase / Decrease in Bank Borrowings |
|
- |
-- |
|
|
|
|
|
|
INCREASE / DECREASE IN NET SALES |
|
12.500 |
4.500 |
|
|
|
|
|
|
BREAK UP OF [4] |
|
|
|
|
[i] Increase / Decrease in raw Materials |
|
(0.025) |
0.013 |
|
|
|
|
|
|
[ii] Increase / Decrease stock – in – process |
|
0.036 |
0.081 |
|
|
|
|
|
|
[iii] Increase / Decrease in Finished goods |
|
-- |
-- |
|
|
|
|
|
|
[iii] Increase / Decrease in Receivables |
|
|
|
|
[a] Domestic |
|
-- |
-- |
|
[b] Exports |
|
0.460 |
0.143 |
|
|
|
|
|
|
[v] Increase / Decrease in Store and Spares |
|
-- |
-- |
|
|
|
|
|
|
[vi] Increase / Decrease in other Current Assets |
|
0.906 |
1.579 |
|
|
|
|
|
CASH
FLOW
|
PARTICULARS |
|
PROJECTED |
||
|
|
|
31.03.2010 |
31.03.2011 |
|
|
|
|
|
|
|
|
1 Cash flows
from operating activities |
|
|
|
|
|
Add : |
Net profit before taxation |
|
1.120 |
1.830 |
|
Add : |
Depreciation |
|
0.709 |
0.603 |
|
Add : |
Increase in current liabilities |
|
0.289 |
0.241 |
|
Less : |
Decrease in current liabilities |
|
--- |
--- |
|
Less : |
Increase in current assets |
|
0.471 |
0.237 |
|
Add : |
Decrease in current assets |
|
-- |
-- |
|
Cash
generated from operations |
|
1.547 |
2.437 |
|
|
Less : |
Income tax payable |
|
-- |
-- |
|
Net
cash from operations |
|
1.647 |
2.437 |
|
|
2 Cash flows
from investing activities |
|
|
|
|
|
Add : |
Sale of fixed assets |
|
-- |
-- |
|
Less : |
Purchase of fixed assets |
|
-- |
-- |
|
Add : |
Change in non current assets |
|
-- |
-- |
|
Add : |
Change in tangible assets |
|
-- |
-- |
|
Cash
from investing activities |
|
-- |
-- |
|
|
3
Cash flows from financing activities |
|
|
|
|
|
Add : |
Issue of capital |
|
(0.288) |
(0.342) |
|
Add : |
[+]/[-] in term liabilities |
|
(0.454) |
(0.516) |
|
Less : |
Dividend paid |
|
|
|
|
Cash
from financing activities |
|
(0.742) |
(0.858) |
|
|
4
Cash flows from other activities |
|
-- |
-- |
|
|
5
opening cash and cash equivalents |
|
0.056 |
0.962 |
|
|
Closing cash and cash equivalents [1 to 5] |
|
0.961 |
2.541 |
|
FINANCIAL RATIOS - DSCR AND ICR
|
PARTICULARS
|
ESTIMATED
|
PROJECTED |
|
|
|
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
|
|
|
|
A. Funds available for Debt – Coverage |
|
|
|
|
0.244 |
1.120 |
1.830 |
|
0.383 |
0.709 |
0.603 |
|
0.213 |
0.478 |
0.422 |
|
0.840 |
2.307 |
2.855 |
|
|
|
|
|
|
B. Debts to be serviced |
|
|
|
|
0.122 |
0.398 |
0.454 |
|
0.213 |
0.478 |
0.422 |
|
0.335 |
0.876 |
0.876 |
|
|
|
|
|
|
Interest coverage ratio A / B |
3.94 |
4.83 |
6.77 |
|
Debts service coverage ratio |
2.51 |
2.63 |
3.26 |
STATEMENT OF
ASSETS AND LIABILITIES
Mr.
Pradeep Dungarraj Kawedia
Annual Income :
|
Source |
Annual Income
[Rs in Millions] |
|
Income from Varun Inc. |
0.138 |
|
Income from Partnership |
0.121 |
|
Capital gains – Shares |
0.051 |
|
Bank Interest |
0.000 |
|
Total |
0.310 |
IMMOVABLE ASSETS
|
Particulars |
Year of
Acquisition |
Location and
Boundaries |
Acre / Sq. Ft. |
Details of
document Conferring right |
Approximate
Value |
|
|
|
|
|
|
|
|
Building |
2002-03 |
Kandivali [W] |
565 sq. ft. app. |
Ownership Agreement |
Rs. 4.300 Millions |
|
|
|
|
|
|
|
Movable Assets
|
Sl. No. |
Particulars |
Purchase
/ Date of Policy |
Approximate
Present Value or Surrender Value as on date
|
|
|
|
|
|
|
1 |
Motor Vehicles |
2006-07 |
0.224 |
|
2 |
Furniture and Fixtures / Machineries |
-- |
0.007 |
|
3 |
Government Securities – NSC, NSS, IVP etc. |
-- |
-- |
|
4 |
Shares, Debentures of Limited Companies / Units |
2008-09 |
0.192 |
|
5 |
Deposits with banks / Institutions / Post Office |
-- |
-- |
|
6 |
Jewels |
-- |
-- |
|
7 |
Cash on Hand |
-- |
0.118 |
|
8 |
Investment in Business Capital |
-- |
-- |
|
9 |
Life Insurance Policies |
-- |
-- |
|
10 |
Other Assets if any |
-- |
0.531 |
|
|
Total |
|
1.072 |
LIABILITIES
|
Sl. No. |
Nature of
Borrowing |
Source / Name of
Institution |
Security Offered
|
Amount Rs in Millions |
|
|
|
|
|
|
|
1 |
Loan against flat |
LIC Housing Fiancés Limited |
Flat |
0.368 |
|
2 |
Loan from Relatives |
Priti Kawedia and Kitchen Bath |
|
0.350 |
|
3 |
Loan against Car |
ICICI Car Loan |
Car |
0.140 |
|
|
Total |
|
|
0.858 |
NETWORTH
Rs in Millions
|
Immovable Assets |
Movable Assets |
Liabilities |
Networth |
|
|
|
|
|
|
4.300 |
1.072 |
0.858 |
4.514 |
|
|
|
|
|
Mrs.
Priti Pradeep Kawedia
Annual Income :
|
Source |
Annual Income
[Rs in Millions] |
|
Business Income |
0.072 |
|
Capital gains – Shares |
0.063 |
|
Interest Income |
0.033 |
|
Total |
0.168 |
Movable Assets
|
Sl. No. |
Particulars |
Purchase
/ Date of Policy |
Approximate
Present Value or Surrender Value as on date
|
|
|
|
|
|
|
1 |
Motor Vehicles |
-- |
-- |
|
2 |
Furniture and Fixtures / Machineries |
-- |
-- |
|
3 |
Government Securities – NSC, NSS, IVP etc. |
-- |
-- |
|
4 |
Shares, Debentures of Limited Companies / Units |
-- |
0.147 |
|
5 |
Deposits with banks / Institutions / Post Office |
-- |
-- |
|
6 |
Jewels |
-- |
-- |
|
7 |
Cash on Hand |
-- |
0.140 |
|
8 |
Investment in Business Capital |
-- |
-- |
|
9 |
Life Insurance Policies |
-- |
-- |
|
10 |
Other Assets if any |
-- |
0.275 |
|
|
Total |
-- |
0.562 |
NETWORTH
Rs in Millions
|
Immovable Assets |
Movable Assets |
Liabilities |
Networth |
|
|
|
|
|
|
Nil |
0.562 |
Nil |
0.562 |
Mr.
Abhishek Shantilal Punamiya
Annual Income :
|
Source |
Annual Income
[Rs in Millions] |
|
Salary |
0.084 |
|
Business |
0.176 |
|
Or Source |
0.057 |
|
Total |
0.317 |
Movable Assets
|
Sl. No. |
Particulars |
Approximate
Present Value or Surrender Value as on date
|
|
|
|
|
|
1 |
Motor Vehicles |
Nil |
|
2 |
Furniture and Fixtures / Machineries |
Nil |
|
3 |
Government Securities – NSC, NSS, IVP etc. |
0.038 |
|
4 |
Shares, Debentures of Limited Companies / Units |
0.078 |
|
5 |
Deposits with banks / Institutions / Post Office |
0.185 |
|
6 |
Jewels |
-- |
|
7 |
Cash on Hand |
0.136 |
|
8 |
Investment in Business Capital |
-- |
|
9 |
Life Insurance Policies |
0.050 |
|
10 |
Other Assets if any |
1.057 |
|
|
Total |
1.541 |
NETWORTH
Rs in Millions
|
Immovable Assets |
Movable Assets |
Liabilities |
Networth |
|
|
|
|
|
|
Nil |
1.541 |
Nil |
1.541 |
|
|
|
|
|
Mr.
Dungarraj Motilal Kawedia
Annual Income :
|
Source |
Annual Income
[Rs in Millions] |
|
|
|
|
Business Income |
0.150 |
|
|
|
Movable Assets
|
Sl. No. |
Particulars |
Purchase
/ Date of Policy |
Approximate
Present Value or Surrender Value as on date
|
|
|
|
|
|
|
1 |
Motor Vehicles |
-- |
-- |
|
2 |
Furniture and Fixtures / Machineries |
1996-1997 |
0.023 |
|
3 |
Government Securities – NSC, NSS, IVP etc. |
-- |
-- |
|
4 |
Shares, Debentures of Limited Companies / Units |
-- |
-- |
|
5 |
Deposits with banks / Institutions / Post Office |
-- |
-- |
|
6 |
Jewels |
-- |
-- |
|
7 |
Cash on Hand |
-- |
0.060 |
|
8 |
Investment in Business Capital |
-- |
0.560 |
|
9 |
Life Insurance Policies |
-- |
-- |
|
10 |
Other Assets if any |
-- |
-- |
|
|
Total |
-- |
0.643 |
LIABILITIES
|
Sl. No. |
Nature of
Borrowing |
Source / Name of
Institution |
Security Offered
|
Amount Rs in Millions |
|
|
|
|
|
|
|
1 |
Loan from Relatives |
V. M. Kawedia, P. M. Kawedia and T. R. Punawmia |
-- |
0.552 |
|
|
|
|
|
|
NETWORTH
Rs in Millions
|
Immovable Assets |
Movable Assets |
Liabilities |
Networth |
|
|
|
|
|
|
-- |
0.643 |
0.552 |
0.091 |
|
|
|
|
|
Mr.
Sanjay Ramanlal Shah
Annual Income :
|
Source |
Annual
Income [Rs in Millions] |
|
Rent |
0.138 |
|
Business |
0.838 |
|
Office Income |
0.017 |
|
Total |
0.993 |
|
|
|
IMMOVABLE ASSETS
|
Sl. No. |
Particulars |
Year of
Acquisition |
Survey No. |
Location and
Boundaries |
Approximate
Value |
|
|
|
|
|
|
|
|
1. |
Land : Agriculture, Farm, Estate, Site |
2008-09 |
Vasai [W] |
Papdi |
1.000 |
|
2. |
Building : House / Flat, Factory / Shed / Office Complex ˝ Shares |
2002-03 |
Vasai |
-- |
1.200 |
|
|
Total |
|
|
|
2.200 |
Movable Assets
|
Sl. No. |
Particulars |
Approximate
Present Value or Surrender Value as on date
|
|
|
|
|
|
1 |
Motor Vehicles |
-- |
|
2 |
Furniture and Fixtures / Machineries |
-- |
|
3 |
Government Securities – NSC, NSS, IVP etc. |
0.010 |
|
4 |
Shares, Debentures of Limited Companies / Units |
0.099 |
|
5 |
Deposits with banks / Institutions / Post Office |
0.067 |
|
6 |
Jewels |
-- |
|
7 |
Cash on Hand |
3.122 |
|
8 |
Investment in Business Capital |
2.711 |
|
9 |
Life Insurance Policies |
-- |
|
10 |
Other Assets if any |
0.026 |
|
|
Total |
6.035 |
LIABILITIES
|
Sl. No. |
Nature of
Borrowing |
Amount
Rs
in Millions |
|
|
|
|
|
1 |
Loan from Relatives |
4.983 |
|
|
|
|
NETWORTH
Rs in Millions
|
Immovable Assets |
Movable Assets |
Liabilities |
Networth |
|
|
|
|
|
|
2.200 |
6.035 |
4.983 |
3.252 |
|
|
|
|
|
Mrs.
Deepali Sanjay Shah
Annual Income :
|
Source |
Annual
Income [Rs in Millions] |
|
Rent |
0.072 |
|
Office Income |
0.240 |
|
Total |
0.312 |
|
|
|
IMMOVABLE ASSETS
|
Sl. No. |
Particulars |
Year of
Acquisition |
Survey No. |
Acre / Sq. Ft. |
Details of
document Conferring right |
Approximate
Value |
|
|
|
|
|
|
|
|
|
1. |
Building : House / Flat, Factory / Shed / Office Complex |
2002-03 |
At Vasat [W] |
350 sq.ft. [App] |
Ownership Agreement |
2.500 |
Movable Assets
|
Sl. No. |
Particulars |
Approximate
Present Value or Surrender Value as on date
|
|
|
|
|
|
1 |
Motor Vehicles |
0.015 |
|
2 |
Furniture and Fixtures / Machineries |
-- |
|
3 |
Government Securities – NSC, NSS, IVP etc. |
0.053 |
|
4 |
Shares, Debentures of Limited Companies / Units |
0.105 |
|
5 |
Deposits with banks / Institutions / Post Office |
0.125 |
|
6 |
Jewels |
0.600 |
|
7 |
Cash on Hand |
0.028 |
|
8 |
Investment in Business Capital |
-- |
|
9 |
Life Insurance Policies |
0.250 |
|
10 |
Other Assets if any |
0.635 |
|
|
Total |
1.811 |
LIABILITIES
|
Sl. No. |
Nature of
Borrowing |
Amount
Rs
in Millions |
|
|
|
|
|
|
|
|
|
|
|
|
|
Sl. No. |
Nature of
Borrowing |
Source / Name of
Institution |
Security Offered
|
Amount Rs in Millions |
|
|
|
|
|
|
|
1 |
Loan from Relatives |
Sudhir Khokhani |
-- |
0.080 |
|
2 |
Advance for Shop |
|
|
0.200 |
|
|
Total |
|
|
0.280 |
NETWORTH
Rs in Millions
|
Immovable Assets |
Movable Assets |
Liabilities |
Networth |
|
|
|
|
|
|
2.500 |
1.811 |
0.280 |
4.031 |
|
|
|
|
|
PARTNERS
PERSONAL BALANCE SHEET
Auditor
:
Rajesh
Gada and Associates - Chartered Accountants
MR. PRADEEP
DUNGARRAJ KAWEDIA
Capital Account
[As on 31.03.2008]
|
Particular |
Amount |
Particular |
Amount |
|
|
|
|
|
|
To LIC |
0.055 |
By Balance b/d |
0.759 |
|
Advance Tax |
0.010 |
Net Profit |
0.122 |
|
Drawings |
0.051 |
Profit from
Varun Inc. |
0.134 |
|
HDFC Policy |
0.025 |
Interest on
Capital |
0.001 |
|
Housing Loan
Interest |
0.041 |
Long term profit
on shares |
0.020 |
|
Income Tax |
0.011 |
Short Term
Capital Gain |
0.051 |
|
Mediclaim |
0.008 |
Remuneration |
0.037 |
|
S.T.T. |
0.001 |
Share of Profit |
0.010 |
|
School Fees |
0.019 |
Speculation Gain
|
0.004 |
|
Services Tax and
Other Charges |
0.000 |
|
|
|
Balance C/f |
0.917 |
|
|
|
|
|
|
|
|
Total |
1.138 |
Total |
1.138 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital [Pradeep Kawedia] |
0.917 |
0.759 |
0.574 |
|
|
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 |
0.917 |
0.759 |
0.574 |
|
|
|
|
|
|
|
|
1] Secured Loans |
0.856 |
0.860 |
0.913 |
|
|
2] Unsecured Loans |
||||
|
TOTAL BORROWING |
0.856 |
0.860 |
0.913 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.773 |
1.619 |
1.487 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.936 |
0.975 |
1.021 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.192 |
0.549 |
0.403 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.118
|
0.036 |
0.004 |
|
|
Deposits |
0.061
|
0.061 |
0.061 |
|
|
Loans & Advances |
0.468
|
0.000 |
0.000 |
|
Total
Current Assets |
0.647
|
0.097 |
0.065 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.002
|
0.002 |
0.002 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
0.002
|
0.002 |
0.002 |
|
|
Net Current Assets |
0.645
|
0.095 |
0.063 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.773 |
1.619 |
1.487 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
|
|
|
|
|
|
Brokerage / Commission from Gold and Diamond |
0.209 |
0.150 |
0.097 |
|
|
Total Income |
0.209 |
0.150 |
0.097 |
|
|
|
|
|
|
|
|
Net Profit |
0.122 |
0.054 |
0.016 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Bank Charges |
0.000 |
0.000 |
0.000 |
|
|
Interest on Car Loan |
0.016 |
0.021 |
0.021 |
|
|
Depreciation on Car |
0.040 |
0.047 |
0.055 |
|
|
Other Expenditure |
0.032 |
0.029 |
0.005 |
|
Total Expenditure |
0.088 |
0.097 |
0.081 |
|
VARUN
INC
Prop : Mr. Pradeep
Dungarraj Kawedia
Capital Account
[As on 31.03.2008]
|
Particular |
Amount |
Particular |
Amount |
|
|
|
|
|
|
To Drawing |
0.152 |
By Balance b/d |
0.500 |
|
Income Tax |
0.011 |
Bank |
0.025 |
|
LIC |
0.075 |
Net Profit |
0.134 |
|
School Fees |
0.019 |
|
|
|
Mediclaim |
0.009 |
|
|
|
Advance Tax |
0.003 |
|
|
|
Balance C/f |
0.390 |
|
|
|
|
|
|
|
|
Total |
0.659 |
Total |
0.659 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital [Mr.
Pradeep Dungarraj Kawedia] |
0.390 |
0.500 |
0.354 |
|
|
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 |
0.390 |
0.500 |
0.354 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
0.618 |
1.343 |
0.349 |
|
|
2] Unsecured Loans |
||||
|
TOTAL BORROWING |
0.618 |
1.343 |
0.349 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.008 |
1.843 |
0.703 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.550 |
0.573 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.136 |
0.100 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.453 |
0.009 |
|
|
Sundry Debtors |
0.043
|
0.890 |
1.106 |
|
|
Cash & Bank Balances |
0.048
|
0.199 |
0.095 |
|
|
Other Current Assets |
0.246
|
0.001 |
0.001 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
0.337
|
1.543 |
1.211 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.015
|
0.373 |
0.508 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
0.015
|
0.373 |
0.508 |
|
|
Net Current Assets |
0.322
|
1.170 |
0.703 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.008 |
1.843 |
0.703 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
|
|
|
|
|
|
Sales Turnover |
2.159 |
2.598 |
1.355 |
|
|
Other Income |
0.000 |
0.000 |
0.005 |
|
|
Total Income |
2.159 |
2.598 |
1.360 |
|
|
|
|
|
|
|
|
Net Profit |
0.134 |
0.305 |
0.322 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
1.216 |
1.401 |
0.743 |
|
|
Salaries, Wages, Bonus, etc. |
0.063 |
0.096 |
0.101 |
|
|
Interest |
0.112 |
0.120 |
0.030 |
|
|
Depreciation & Amortization |
0.023 |
0.016 |
0.000 |
|
|
Insurance |
0.000 |
0.009 |
0.000 |
|
|
Other Expenditure |
0.611 |
0.651 |
0.164 |
|
Total Expenditure |
2.025 |
2.293 |
1.038 |
|
Mrs.
Priti Pradeep Kawedia
Capital Account
[As on 31.03.2008]
|
Particular |
Amount |
Particular |
Amount |
|
|
|
|
|
|
To Drawings |
0.024 |
By Balance b/d |
0.449 |
|
L.I.C. |
0.012 |
Bank Interest |
0.000 |
|
Demat Charges |
0.000 |
Profit on sale
of share |
0.063 |
|
Society
Maintances |
0.018 |
Interest Received From |
0 |
|
Service Tax and
other charges |
0.000 |
Varun Inc |
0.009 |
|
S. T. T. |
0.000 |
Pradeep Kawedia |
0.024 |
|
Balance C/f |
0.563 |
Gross Income |
0.072 |
|
|
|
|
|
|
Total |
0.617 |
Total |
0.617 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital [Priti Kawedia] |
0.563 |
0.449 |
0.406 |
|
|
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 |
0.563 |
0.449 |
0.406 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.563 |
0.449 |
0.406 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.148 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.140
|
0.107 |
0.077 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.275
|
0.342 |
0.329 |
|
0.415 |
0.449 |
0.406 |
||
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.000 |
0.000 |
0.000 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Net Current Assets |
0.415
|
0.449 |
0.406 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.563 |
0.449 |
0.406 |
|
Mr.
Abhishek Shantilal Punamiya
Capital Account
[As on 31.03.2008]
|
Particular |
Amount |
Particular |
Amount |
|
|
|
|
|
|
To Withdrawals |
0.056 |
By Balance b/d |
0.830 |
|
L.I.C. |
0.080 |
Salary |
0.084 |
|
Mediclaim
Premium |
0.002 |
Commission
Income |
0.102 |
|
T. D. S. Kapat |
0.013 |
Bank Interest |
0.003 |
|
|
|
Interest from V.
S. C. |
0.005 |
|
|
|
Dividend Income |
0.005 |
|
Balance C/f |
1.506 |
P.P.F. Interest |
0.010 |
|
|
|
Interest from
Loans and Advances |
0.044 |
|
|
|
Interest
Income [R.F.] [Varun Impex] |
0.027 |
|
|
|
Salary
Income [R.F.] [Varun Impex] |
0.037 |
|
|
|
Profit [R.F.] |
0.010 |
|
|
|
Gift Received |
0.500 |
|
|
|
|
|
|
Total |
1.657 |
Total |
1.657 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.506 |
0.830 |
0.781 |
|
|
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 |
1.506 |
0.830 |
0.781 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.506 |
0.830 |
0.781 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.367 |
0.668 |
0.291 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.139 |
0.162 |
0.490 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
0.139
|
0.162 |
0.490 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Net Current Assets |
0.139
|
0.162 |
0.490 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.506 |
0.830 |
0.781 |
|
KAWEDIA
JEWELLERS
PROP
: Mr. Dungarraj Motilal Kawedia
Capital Account
[As on 31.03.2007]
|
Particular |
Amount |
Particular |
Amount |
|
|
|
|
|
|
To Drawings |
0.071 |
By Balance B/F |
0.360 |
|
To Loss |
0.198 |
|
|
|
|
0.091 |
|
|
|
Balance C/f |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
0.360 |
Total |
0.360 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.091 |
0.360 |
0.321 |
|
|
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 |
0.091 |
0.360 |
0.321 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.553 |
0.525 |
0.466 |
|
|
TOTAL BORROWING |
0.553 |
0.525 |
0.466 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.644 |
0.885 |
0.787 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.024 |
0.026 |
0.029 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.549
|
0.790 |
0.719 |
|
|
Sundry Debtors |
0.011
|
0.011 |
0.011 |
|
|
Cash & Bank Balances |
0.060
|
0.058 |
0.028 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
0.620
|
0.859 |
0.758 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Net Current Assets |
0.620
|
0.859 |
0.758 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.644 |
0.885 |
0.787 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
|
|
|
|
|
|
Sales Turnover |
0.194 |
0.237 |
0.128 |
|
|
Other Income |
0.903 |
0.095 |
0.051 |
|
|
Total Income |
1.097 |
0.332 |
0.179 |
|
|
|
|
|
|
|
|
Net Profit/(Loss) |
(0.198) |
0.093 |
0.060 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
0.313 |
0.071 |
[0.013] |
|
|
Telephone Charges |
0.016 |
0.014 |
0.010 |
|
|
Electricity Charges |
0.005 |
0.006 |
0.005 |
|
|
Bank Commission Charges |
0.001 |
0.001 |
0.000 |
|
|
Salary Paid |
0.060 |
0.048 |
0.048 |
|
|
Bullion Wt. Stamp |
0.001 |
0.001 |
0.001 |
|
|
Depreciation |
0.003 |
0.003 |
0.003 |
|
|
Interest |
0.045 |
0.026 |
0.038 |
|
|
Other Expenses |
0.851 |
0.069 |
0.027 |
|
Total Expenditure |
1.295 |
0.239 |
0.119 |
|
Mrs.
Sanjay M. Shah
Capital Account
[As on 31.03.2006]
|
Particular |
Amount |
Particular |
Amount |
|
|
|
|
|
|
Drawings |
0.048 |
Bal B/d |
1.143 |
|
Adv. I Tax. |
0.010 |
Rent Received |
0.102 |
|
Mediclaim |
0.002 |
Bank Interest |
0.001 |
|
LIP |
0.081 |
PPF Interest |
0.002 |
|
Prof. Tax |
0.002 |
Dividend [UTI] |
0.003 |
|
Firm Tax |
0.030 |
Interest from
Firm |
0.078 |
|
Bal C. F. |
1.420 |
Salary from Firm
|
0.114 |
|
|
|
Share Profits |
0.105 |
|
|
|
NSC Interest
Received on Maturity |
0.009 |
|
|
|
Repairing and
Remarking Gold Ornaments |
0.036 |
|
|
|
|
|
|
Total |
1.593 |
Total |
1.593 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.420 |
1.143 |
1.044 |
|
|
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 |
1.420 |
1.143 |
1.044 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.928 |
0.940 |
0.781 |
|
|
TOTAL BORROWING |
0.928 |
0.940 |
0.781 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.348 |
2.083 |
1.825 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.074 |
1.062 |
1.034 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.077 |
0.065 |
0.057 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.051
|
0.049 |
0.157 |
|
|
Other Current Assets |
0.045
|
0.045 |
0.077 |
|
|
Loans & Advances |
1.101
|
0.862 |
0.500 |
|
Total
Current Assets |
1.197
|
0.956 |
0.734 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Net Current Assets |
1.197
|
0.956 |
0.734 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.348 |
2.083 |
1.825 |
|
Mrs.
Deepali S. Shah
Capital Account
[As on 31.03.2008]
|
Particular |
Amount |
Particular |
Amount |
|
|
|
|
|
|
To Drawings |
0.036 |
By Balance b/d |
0.982 |
|
To S A Tax |
0.003 |
By Gross Income |
0.099 |
|
To TDS |
0.002 |
By Rent Income |
0.072 |
|
To LIC |
0.087 |
By Interest on
Loan |
0.019 |
|
Balance C/f |
1.169 |
By Bank and
other Inc. |
0.122 |
|
|
|
By PPF Int |
0.003 |
|
|
|
|
|
|
Total |
1.297 |
Total |
1.297 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.169 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.169 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.080 |
|
|
TOTAL BORROWING |
|
|
0.080 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1.249 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.367 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.392 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.126 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.564 |
|
Total
Current Assets |
|
|
0.690 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
0.200 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.200 |
|
|
Net Current Assets |
|
|
0.490 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1.249 |
|
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 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.49.22 |
|
UK Pound |
1 |
Rs.73.03 |
|
Euro |
1 |
Rs.63.14 |
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 |
|