MIRA
INFORM REPORT
|
Report Date : |
18.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
P C BANGUR MINERALS LIMITED |
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Registered Office : |
L-43, Connaught Circus, New Delhi – 110 001 |
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Country : |
India |
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Financials (as
on) : |
31.03.2007 |
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Date of Incorporation : |
24.09.1987 |
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Com. Reg. No.: |
55-39310 |
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CIN No.: [Company
Identification No.] |
U14101DL1987PLC039310 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP02089D |
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Legal Form : |
Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Trader of Building Grade Lime Stone (Kota Stone) |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 65000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Its financial position is unfavorable. Trade relations are fair. Its payments are reported as slow but correct. The company can be considered for small to mediocre business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
L - 43, Connaught Circus, New Delhi – 110 001, India |
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Tel. No.: |
91-11-23323350 / 23323351/ 23416350/ 23413351 |
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Fax No.: |
91-11-23320357/ 23413446/ 23416357 |
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E-Mail : |
info@indiastones.com, arvind@del.vsnl.net.in, arvind@del3.vsnl.net.in , accl1@vsnl.com |
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Website : |
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Area : |
3,000 sq.ft. (Owned) |
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Location : |
Commercial |
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Factory 1 : |
Chechat Limestone Mines, P.O.Chechat – 326518, District Kota, Rajasthan, India |
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Tel. No.: |
91-7459-230229/329 |
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Area : |
15 heactares |
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Warehouse : |
Located at Mine Sites |
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Branches : |
No. 4, Chha – 10, Vigyan Nagar, Kota- 324005, Rajasthan, India |
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Tel. No.: |
91-744-421258 |
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Location : |
Industrial |
DIRECTORS
|
Name : |
Mr. Ashok Jain |
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Designation : |
Director |
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Address : |
32/ 4, Hanuman Lane, Connaught Place, New Delhi 110 001, India |
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Date of Birth/Age : |
27.02.1949 |
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Qualification : |
B. Tech |
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Date of Appointment : |
10.12.1987 |
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Name : |
Mr. Bimal Prasad Jain |
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Designation : |
Director |
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Address : |
32/ 1, Hanuman Lane, Connaught Place, New Delhi 110 001, India |
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Date of Birth/Age : |
10.02.1923 |
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Qualification : |
Intermediate |
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Date of Appointment : |
10.12.1987 |
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Name : |
Mr. Sirish Jain |
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Designation : |
Director |
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Address : |
32/ 2, Hanuman
Lane, Connaught Place, New Delhi 110 001, India |
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Date of Birth/Age : |
13.11.1953 |
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Qualification : |
B. Tech |
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Date of Appointment : |
10.12.1987 |
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Name : |
Mr. Gaurav Jain |
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Designation : |
Director |
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Address : |
32/ 2, Hanuman Lane, Connaught Place, New Delhi 110 001, India |
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Date of Birth/Age : |
04.07.1979 |
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Qualification : |
PGDBM |
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Date of Appointment : |
28.10.2003 |
KEY EXECUTIVES
|
Name : |
Mr. Mohit Kumar
Arora |
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Designation : |
Company Secretary |
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Address: |
B-41, Pink
Apartment, Paschim Vihar, Near White House, Outer Ring Road, New Delhi – 110
063, India |
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Date of Birth/Age : |
16.09.1982 |
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Date of Appointment : |
15.11.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Name of
Shareholders |
No. of Shares |
|
Mr. Bimal Pershad
Jain |
20 |
|
Mr. Ashok Jain |
20 |
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M. Sirish Jain |
20 |
|
Ms. Sarla Jain |
20 |
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Mr. P. C. Bangur |
10 |
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Mr. Sanjay Bangur |
10 |
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Mr. Ashok Jain |
20 |
|
Arvind Construction Company Private Limited |
2289900 |
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Total |
2290020 |
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Name of
Shareholders |
% of Holding |
|
Bodies Corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Building Grade Lime Stone (Kota Stone) |
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Products : |
Building Grade Lime Stone (Kota Stone) |
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Imports : |
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Products : |
Diamond Segments |
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Countries : |
Korea and China |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
L/C or Cash terms |
PRODUCTION STATUS
|
Products |
Unit
|
Actual Production |
|
Building Grade Lime Stone |
Sq.ft. |
6251974 |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
748 |
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Bankers : |
* Central Bank of India * State Bank of Bikaner and Jaipur * Oriental
Bank of Commerce * Indusind Bank
Limited, DR. Gopal Das Bhawan, 28, Barakhamba Road, Connaught Circus, New Delhi
– 110001, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K. K. Jain and Company Chartered Accountants |
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Address : |
711, Roots Tower, District Centre, Laxmi Nagar, New Delhi – 110 092,
India |
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Tel. No.: |
91-11-23276675 |
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Holding Company : |
· Arvind Construction Company Private Limited L-43, Connaught Circus, New Delhi Line of Business: Engineers, Contractors, Manufacturer, Importer and Exporters. |
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Associates : |
· Arvind Overseas Project Services Private Limited L-39, Connaught Circus, New Delhi Line of
Business : Investments |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
2500000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2290000 |
Equity Shares |
Rs. 10/- each |
Rs. 22.900 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
22.900 |
22.900 |
22.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(6.647) |
(7.425) |
(8.854) |
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NETWORTH |
16.253 |
15.475 |
14.046 |
|
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
1.132 |
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2] Unsecured Loans |
2.750 |
2.750 |
2.750 |
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TOTAL BORROWING |
2.750 |
2.750 |
3.882 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
19.003 |
18.225 |
17.928 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11.123 |
8.843 |
9.660 |
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Capital work-in-progress |
0.000 |
0.525 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
2.769 |
3.730 |
5.160 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
7.483
|
6.685 |
7.783 |
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Sundry Debtors |
5.449
|
5.260 |
4.637 |
|
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Cash & Bank Balances |
2.620
|
3.111 |
0.937 |
|
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Other Current Assets |
0.049
|
0.032 |
2.268 |
|
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Loans & Advances |
2.899
|
2.894 |
0.025 |
|
Total
Current Assets |
18.500
|
17.982 |
15.650 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
11.602
|
11.504 |
11.375 |
|
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Provisions |
1.787
|
1.351 |
1.167 |
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Total
Current Liabilities |
13.389
|
12.855 |
12.542 |
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Net Current Assets |
5.111
|
5.127 |
3.108
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
19.003 |
18.225 |
17.928 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
56.965 |
59.178 |
42.346 |
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Other Income |
1.171 |
0.121 |
7.801 |
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Total Income |
58.136 |
59.299 |
50.147 |
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Profit/(Loss) Before Tax |
2.020 |
2.987 |
(2.877) |
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Provision for Taxation |
0.000 |
0.000 |
1.106 |
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Profit/(Loss) After Tax |
2.020 |
2.987 |
(1.771) |
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Imports : |
|
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Raw Materials |
NA |
NA |
NA |
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Stores & Spares |
NA |
NA |
NA |
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Capital Goods |
NA |
NA |
NA |
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Others |
NA |
NA |
0.529 |
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Total Imports |
NA |
NA |
0.529 |
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Expenditures : |
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Opening Stock |
0.000 |
0.000 |
6.729 |
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Manufacturing Expenses |
0.000 |
0.000 |
30.726 |
|
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Administrative Expenses |
0.000 |
0.000 |
1.088 |
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Royalty |
0.000 |
0.000 |
2.409 |
|
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Financial Charges |
0.000 |
0.000 |
0.163 |
|
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Selling Expenses |
0.000 |
0.000 |
1.910 |
|
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Raw Material Consumed |
35.888 |
37.821 |
0.000 |
|
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Salaries, Wages, Bonus, etc. |
8.511 |
7.829 |
6.920 |
|
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Provision for Gratuity |
0.000 |
0.000 |
0.132 |
|
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Depreciation & Amortization |
1.113 |
0.884 |
1.050 |
|
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Other Expenditure |
10.603 |
9.778 |
1.895 |
|
Total Expenditure |
56.115 |
56.312 |
53.022 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
3.47
|
5.03 |
(3.53) |
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|
Net Profit Margin (PBT/Sales) |
(%) |
3.47
|
5.03 |
(5.73) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.23
|
9.61 |
(11.36) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.19 |
(0.20) |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.99
|
2.01 |
1.16 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.40 |
1.24 |
LOCAL AGENCY
FURTHER INFORMATION
It is in trade terms with:
· Hindustan Marble,
Plot No. 79, Sector 20, Marble Market, Papankala, Delhi
· Faquirchandji Marble House
Amritsar Road, Landak, Moga, Punjab
· Shri Venkatesh Marble
Near Kodiyar Mata Mandir, Gandhi
Nagar, Sarkhej Highway, Chota Char Rasta, Ahmedabad, Gujarat
Fixed Assets
¯ Land
¯ Building
¯ Plant & Machinery
¯ Electrical Installations
¯ Vehicles
¯ Office Equipment
¯ Air Conditioners
¯ Coolers
AS PER WEB:
Subject is a professionally managed company, established in the year
1988 and are one of the leading Lime Stone Mine Owners in India. The company is
having a mechanized setup for processing of Lime Stone.
Group Profile
They are part of diverse business organisation whose business policy is based
on sound values and business ethics. Their parent oraganisation Arvind
Construction Company Ltd (ACCL) was established in the year 1962 with the main
objective of undertaking civil construction works in India and abroad. Since
then it has made an all-round growth in civil construction activities of
diversified nature in India And abroad. The Company is today one of the leading
construction organizations in Indian sub-continent and has successfully
executed various construction jobs with a high reputation both at home and
abroad.
Lime Stone Mines
They have distinct advantage of having their own mines from where Lime Stones
are quarried and processed at their own plant. All the processing works are
directly undertaken by the company without any involvement of the mediators or
the agents, thus offer maximum value for money to the customers.
Production Facilities
Their production facility is 100% mechanised and is blessed with the optimum
resources in complete sense. They have production of 200 M.T. of Limestones per
day and are in a position to supply up to 10 containers per day. They have, at
their plant, installed the latest machinery and equipment to meet the best of
international standards.
Lime Stones
* Kota Blue Natural
* Kota Blue Honed
* Kota Blue Polished
* Kota Brown Natural
* Kota Brown Polished
Lime Stone Cobbles
* Kota Blue Cobble
* Kota Brown Cobble
* Rainbow Cobble
* Chocolate Cobble
* Red Limestone Cobble
*
Brown Cobble
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.98 |
|
UK Pound |
1 |
Rs.78.57 |
|
Euro |
1 |
Rs.59.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
- |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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 |
|