MIRA
INFORM REPORT
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Report Date : |
13.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
IMPERIAL GRANITES PRIVATE LIMITED |
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Registered Office : |
76, Cathedral Road, Chennai – 600 086, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
24.02.1986 |
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Com. Reg. No.: |
18-12729 |
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CIN No.: [Company
Identification No.] |
U13206TN1986PTC012729 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHE100228E |
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Legal Form : |
Private limited liability
company |
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Line of Business : |
Manufacturer and exporter of granites tiles, granites furniture,
marbles and granite slabs |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2300000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having fine track. Directors are reported as experienced,
respectable and having huge resources. Their trade relations are fair.
Payments are correct and as per commitments. The company can be considered good for any normal business dealings at
usual trade term sand conditions. |
LOCATIONS
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Registered Office : |
76, Cathedral Road, Chennai – 600 086, Tamilnadu, India |
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Tel. No.: |
91-44-28115190 / 28112333 / 28112411 /
28225772 / 28116107 |
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Fax No.: |
91-44-28117338 / 28111636 |
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Telex : |
41 7492 KACU IN, 041 6844 GRAN IN |
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E-Mail : |
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Website : |
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Area : |
5000 sq.fts |
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Location : |
Owned |
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Cable : |
Gemgran |
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Godown : |
3/51, Pariwakkam Village, Chennai - 600 056, Tamilnadu, India |
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Tel. No.: |
91-44-2627 3289 |
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Factory 1 : |
Venkateswarapuram H/O, Valavadi, M. Kothur Post 517590, Nagari,
Chitoor District, Andhra Pradesh, India |
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Tel. No.: |
91-8577-234541/235447 |
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Fax No.: |
91-8577-271537 |
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E-Mail : |
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Factory 2 : |
Injambakkam, Chennai – 600041, Tamilnadu, India |
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Tel. No.: |
91-44-24490885/24491835 |
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Factory 3 : |
Old Mahabalipuram Road, Chengai MGR District, Padur – 603103,
Tamilnadu, India |
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Tel. No.: |
91-4114-2474210 |
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Branch Office : |
Hoodi Apartments, 120, Cunningham Road, Bangalore – 560052, Karnataka,
India |
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Tel. No.: |
91-80-2257824 |
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Fax No.: |
91-80-2259704 |
DIRECTORS
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Name : |
Mr. Rangaswami Veeramani |
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Designation : |
Director |
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Address : |
304, Avvai Shanmugam Road, Royapettah,
Chennai – 600 014, Tamilnadu, India |
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Date of Birth/Age : |
15.05.1942 |
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Date of Appointment : |
24.02.1986 |
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Name : |
Mr. R. Sekar |
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Designation : |
Director |
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Address : |
120 Hoodi Apartments, Cunningham Road,
Bangalore – 560 052, Karnataka, India |
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Date of Birth/Age : |
04.03.1952 |
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Date of Appointment : |
24.02.1986 |
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Name : |
Mr. Salem Rangasamy Asaithambi |
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Designation : |
Director |
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Address : |
78, Cathedral Road, Chennai – 600086,
Tamilnadu, India |
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Date of Birth/Age : |
01.12.1948 |
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Date of Appointment : |
02.02.1988 |
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Name : |
Mr. Salem Rangasamy Kumar |
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Designation : |
Director |
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Address : |
18, Cenetoph Road, 2nd Lane, Teynampet,
Chennai – 600 018, Tamilnadu, India |
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Date of Birth/Age : |
02.04.1954 |
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Date of Appointment : |
02.02.1988 |
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Name : |
Mr. G. Subramaniyan |
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Designation : |
Director |
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Address : |
120 Hoodi Apartments, Cunningham Road, Bangalore
– 560 052, Karnataka, India |
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Date of Birth/Age : |
10.04.1939 |
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Date of Appointment : |
02.02.1988 |
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Name : |
Mrs. Archana V Mugundhan |
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Designation : |
Director |
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Address : |
164, Lloyds Road, Chennai - 600 014,
Tamilnadu, India |
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Date of Birth/Age : |
28.11.1977 |
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Date of Appointment : |
19.09.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 04.09.2007)
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Names of Shareholders |
No. of Shares |
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R. Veeramani |
3628000 |
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S. R. Asaithambi |
2880000 |
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R. Sekar |
2620000 |
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S. R. Kumar |
2520000 |
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G. Subramaniyan |
6000 |
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Rangasamy Rajammal |
474000 |
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Mukundan V Archana |
72000 |
Equity share
breakup (percentage of total equity)
(As on
30.09.2007)
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Category |
Percentage |
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Directors or relatives of
directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of granites tiles, granites furniture,
marbles and granite slabs |
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Products : |
·
Granite Blocks ·
Granite Slabs ·
Granite Tiles ·
Marbles |
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Exports : |
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Countries : |
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U.S.A. ·
Canada ·
Japan ·
Singapore ·
Far East ·
Europe |
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Imports : |
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Countries : |
·
Germany ·
Italy ·
Japan ·
France ·
Spain |
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Terms : |
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Purchasing : |
L/C and Credit Terms |
PRODUCTION STATUS
(As on 31.03.2005)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Granite Blocks |
CBM |
-- |
-- |
10236.87 |
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Slabs |
CBM |
-- |
-- |
65219.55 |
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Tiles |
CBM |
225000 sq. m.
per annum |
225000.00 sq. m.
per annum |
69246.62 |
GENERAL
INFORMATION
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Suppliers : |
·
Pedrini, Italy, ·
G. B. Abrasives, Italy |
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No. of Employees : |
500 persons - 300 persons in factory and 200 persons in office. |
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Bankers : |
Indian Overseas Bank C and IC Branch, 98A,
Radhakrishnan Salai, Chennai - 600 004, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
Good |
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Financial Institution : |
Sundaram Finance Limited 21, Patullos Road, Chennai – 600 002, Tamilnadu, India |
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Auditors : |
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Name : |
Vijai Sarathy and Company Chartered Accountants |
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Address : |
18 A, Raja Mannar Street, T Nagar, Chennai – 600 017, Tamilnadu, India
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Associates : |
·
Gem Granites ·
Galaxy Enterprises ·
Gem Granites Private Limited ·
Galaxy Rockmin Private Limited ·
Decan Trading Corporation ·
Gem Holiday Resorts Private Limited ·
Gem Leathers ·
Topaz Food Products ·
Rockfort Fasteners Limited ·
Gem Spinners India Limited ·
Stone Wonders (India) Limited Sirubinayur Village,
Salavakkam (PO), Uthiramerur Taluk, Kancheepuram District ·
Cauvery Enterprises, 3/400, Circle Thottam, Near by Pass Road, Salem –
636002, Tamilnadu, India Tel. No. 91-427-2270810 Fax. No. 91-427-2270811 ·
Coramandel Agencies 8, Second
Street, Ganapathy Colony, Chennai – 600086, Tamilnadu, India Tel. No.
91-44-28116107/28112333 Fax. No. 91-44-28117338 |
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Subsidiaries : |
Mckay Stones |
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Parent Company : |
Gem Granites, 76 and 78, Cathedral Road,
Chennai – 600086, Tamilnadu, India Tel. No. 91-44-28115190 (10 Lines) Fax. No. 91-44-28117338/28111636 E-mail. gemigpl@vsnl.com |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
120.000 |
120.000 |
120.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
340.035 |
293.833 |
262.861 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
460.035 |
413.833 |
382.861 |
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LOAN FUNDS |
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1] Secured Loans |
184.904 |
174.525 |
174.441 |
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2] Unsecured Loans |
66.756 |
46.852 |
25.751 |
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TOTAL BORROWING |
251.660 |
221.377 |
200.192 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
711.695 |
635.210 |
583.053 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
253.583 |
225.836 |
225.871 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
15.028 |
14.278 |
0.883 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
240.424
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192.212 |
189.686 |
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Sundry Debtors |
179.156
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195.218 |
160.221 |
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Cash & Bank Balances |
9.369
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4.103 |
2.214 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
248.742
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199.810 |
166.802 |
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Total
Current Assets |
677.691
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591.343 |
518.923 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
145.113
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137.535 |
122.558 |
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Provisions |
89.494
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58.712 |
40.066 |
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Total
Current Liabilities |
234.607
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196.247 |
162.624 |
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Net Current Assets |
443.084
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395.096 |
356.299 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
711.695 |
635.210 |
583.053 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
716.836 |
588.650 |
560.499 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
716.836 |
588.650 |
560.499 |
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Profit/(Loss) Before Tax |
75.041 |
49.762 |
45.353 |
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Total Expenditure |
641.795 |
538.888 |
515.146 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Net Profit Margin (PBT/Sales) |
(%) |
10.47
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8.45 |
8.09 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.06
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6.09 |
6.09 |
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Return on Investment (ROI) (PBT/Networth) |
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0.16
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0.12 |
0.12 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.06
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1.01 |
0.95 |
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Current Ratio (Current Asset/Current Liability) |
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2.89
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3.01 |
3.19 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Name of the company |
IMPERIAL GRANITES PRIVATE LIMITED |
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Presented By |
M/s. Sundaram Finance
Limited, No. 21, Patullos Road, Chennai – 600 002 |
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1) Date and description of instrument creating the change |
Loan Agreement
Dated 16.12.2005. Cont. No. AS-7213 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Total Repayable
Amount Rs.6.286 millions Finance Amount
Rs.5.453 millions Interest Rs.0.833 |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
On the security of
1. No-Earth Moving Equipment. Identity No.
NL30189 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rs.6.286 millions
is repayable in 47 monthly installments as under:
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5) Name and Address and description of the person entitled to the charge. |
Sundaram Finance Limited 21, Patullos Road, Chennai – 600 002, Tamilnadu, India |
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6) Date and brief description of instrument modifying the charge |
Not Available |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Available |
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Corporate
identity number of the company |
U13206TN1986PTC012729 |
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Name of the
company |
IMPERIAL GRANITES PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
76, Cathedral Road, Chennai – 600 086, Tamilnadu, India |
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This form is for |
Creation of
charge |
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Type of charge |
Others ·
Hypothecation
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Particular of
charge holder |
Sundaram Finance Limited 21, Patullos Road, Chennai – 600 002, Tamilnadu, India |
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Nature of
instrument creating charge |
Hypothecation
Agreement (18.10.2006) bearing Cont No. BX-4460 |
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Date of
instrument Creating the charge |
18.10.2006 |
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Amount secured by
the charge |
Rs.6.974 millions
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest 11.39% p.a. ·
Terms of
repayment The total amount of Rs.6.974 millions (Finance amount Rs.5.597 millions)
+ Interest Rs.1.377 millions) is repayable in 47 monthly installments. 1st
Installment (22.11.2006) of Rs.0.148 million and 46 installments of Rs.0.148
million each. ·
Margin Rs.0.622 million ·
Extent and
operation of the charge The total amount of Rs.6.974 millions (Finance amount Rs.5.597
millions + Interest Rs.1.377 millions) is repayable in 47 monthly
installments. 1st Installment (22.11.2006) of Rs.0.148 million and
46 installments of Rs.0.148 million each. |
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Particulars of
the property charged |
1 No. L and T
Komatsu Hydraulic Excavator bearing Serial No. 20185012F locating at 46,
Cathedral Road, Chennai – 86. |
Contingent
Liabilities
All known liabilities of material nature have been provided for in the accounts
except liabilities of a contingent nature, which have been disclosed at their
estimated value in the notes on accounts.
Notes on Accounts
·
Estimated amount of contracts remaining to be executed on capital account
and not provided for Rs.0.400 million.
·
Guarantees given by the company for loans taken by other bodies
corporate
o
Gem Sugars Limited Rs.1856.200 millions
o
Gem Spinners Limited Rs.121.500 millions
·
Guarantees given by bankers for
o
Central Excise Rs.0.050 million
o
Sales Tax Rs.0.049 million
·
Bills under negotiation discounted with bank Rs.42.345 millions
·
Letters of Credit Outstanding on account of
o
Import Rs.14.156 millions
o
Inland Rs.0.242 million
·
Term Loan from State Bank of India is secured by first mortgage of
Quarries Equipments.
·
Working Capital finance from State Bank of India is secured by
o
hypothecation of Inventories
o
documents of title to goods and extension of charge over current assets
o
collateral security of E M of company’s building and hypothecation of
Plant and Machinery and
o
personal guarantees of directors
·
The company has a 100% subsidiary M/S Mckay Stones Inc USA.
Fixed Assets :
·
Land
·
Building
·
Building (Under Construction)
·
Hosur Building
·
Flat
·
Plant And Machinery
·
E.O.T. Crane
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Excavator
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Crane
·
Generator
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Flat Fork Lift
·
Gantry Crane
·
Electrical Installation
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Tippers
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Vehicles
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Furniture And Fittings
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Air Conditioner
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Refrigerator
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Compressor
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Generator Under Installation
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Machinery
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Typewriter And Officer Equipments
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Computer
·
Derrick Crane
·
Hindusthan dumber
Web Details
The Best Quality Granites From India
Products
The Product range of GEM includes Rough
Dimensional Blocks, Polished, Flammed, Honed and
Cut to size structural building Slabs, monuments, memorials and
mausoleum for different countries in exclusive designs. GEM group also produces
modular tiles, Vanity and Counter tops, table tops and Sculptured pieces in
different colours in natural granite stones.
Several
prestigious buildings in the world have used granite stones from GEM. The
Organisation is managed and run by highly qualified professionals
and skilled engineers.
Imperial Granites Limited,
a member of the gem group of Companies which specialises in the
production
of calibrated tiles and slabs for the
international market is the first Indian Granite
Company to receive
ISO 9002 certification from M/s. KPMG
DIVERSIFICATION
The GEM group has diversified
in to the following industrial and commercial areas.
Textiles
Gem Spinners India Limited is a
Modern Cotton Yarn Spinning mill with knitting facility
having modern
machines imported from Germany and other European Countries at a project cost
of 31 Million DM.
Hotels and Resorts
Gem
Holiday Resort Limited
has established a hotel "Holiday Inn Gem Park Ooty",
a hill resort located
at an altitude of 2400 metres (7800 ft) from the sea level.
Information Technology
GEM has promoted Pronet
System Limited in 1997 to provide customs business software solutions in
the areas of manufacturing, Finance, Purchase, Inventory,
Sales management, Customers service, Human
resource management, Internet, E-commerce and many more. In Sep 2004 the name
of the company has changed as Gem Software Solutions Limited.
Service
Granite is a very dense, durable and hard natural stone. Men may go but
the items carved from granite will remain for ever-as a standing
symbol of identity for a particular period-to be witnessed by the generations
to come. So, it is important to select the high quality granite.
They are providing not only high quality granite products but also an
outstanding service. They have independent and competent controller's worldwide
who'll check and fulfill the job requirements.
Design Services
Choosing the proper material for each
application is essential to the long
term success of each project. We'll coordinate right
from overall design theme-suggesting appropriate
materials, colours, textures, details and ensuring a quality
finish.
Fabrication Services
Stonework is an unique art. It needs years
of training. Having two decades of resourceful and robust
experience coupled with modern tools, equipment
and techniques-providing innovative and eye
capturing products decorated finest custom
homes in the west, they are prepared to provide the finest fabrication of
dimensional stone,resulting in old world Craftmanship.
Installation Services
A poor installation may simply ruin the
quality fabricated stone work. Apart from
the technical knowledge to install a project, it needs a creative
skill too. They-being a quality monger entrusted this job to the reputed persons,
near by the customer's place on the behalf.
Achievements
A number of granite Companies around the World have used the
materials from the Gem Group for their prestigious buildings and memorials
worldwide. Some of them are listed below:
Ankuk Insurance
Building,Seoul
Material :
New Imperial Red
Jam Won Building, Korea , Japan
Material :
New Imperial Red
Matsushita Sangyo Company Limited
Office
Building Tokyo, Japan
Material :
New Mahogany
Nichido Insurance Building, Tokyo, Japan
Material : New Imperial Red
SamSung Building ,Seoul, Korea
Material :
New Imperial Red
SamSung Fire and Insurance Building,
Pusan, Korea
Material :
New Imperial Red and Saphire Brown
Hyundai Villa, Seoul, Korea
Material :
New Imperial Red
Mitsui OSK Building, Nagoya Japan
Material :
Saphire Brown
Philips Building, Taipai
Material :
Saphire Brown
Happy World Inc., Office
Building, Tokyo, Japan
Material :
New Imperial Red
Changi Airport -Terminal I, D-pier, Singapore
Material :
Bahama Blue
Holocaust Memorial Building, WashingtonD.C.
Material : Absolute Black, Pink Rose
International Monetary Fund, Washington D.C.
Material: Tropical Green, Goldstar, Saphire Brown,
Himalayan Blue
AMGEN Center, Cambridge, Boston, U.S.A.
Material : New Imperial Red
Ministry of Attorney General Building, Trinidad
Material : Twilight Red, Indian Ivory
Amercian Embassy Building, Oman
Material : New Imperial Red
Tower, Hyundai Office Building, Seoul, Korea
Material : Oyster Pearl, New Mahogany
Bayan Palace, Kuwait
Material : Royal Brown
Urban Bank, Manila
Material : Seaweed Green, Raw Silk
Currency Operation Centre, Bank of China
Material : New Mahogany, Red Multi Colour
Hongkong Electricity Supply co., Hongkong
Material : Paradiso
Kingswood Villa, Hongkong
Material : Tropical Apricot, Red Multi Colour
Eastern Insurance Building, Malaysia
Material : Red Multi Colour
Fat Cheong project, Hongkong
Material : Imperial White, Silver Pearl
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.48.71 |
|
UK Pound |
1 |
Rs.72.86 |
|
Euro |
1 |
Rs.64.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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 |
|