MIRA
INFORM REPORT
|
Report Date : |
10.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
D J EXIM INDIA PRIVATE LIMITED |
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|
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Registered Office : |
A-1/116, Shah and Nahar Industrial Estate, Sitaram Jhadav Marg, Lower
Parel [West], Mumbai 400013, Maharashtra |
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Country : |
India |
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|
Financials (as on) : |
31.03.2008 |
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|
Date of Incorporation : |
19.09.2006 |
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Com. Reg. No.: |
164737 |
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CIN No.: [Company
Identification No.] |
U51494MH2006PTC164737 |
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IEC No.: |
0306057646 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD14501E |
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PAN No.: [Permanent
Account No.] |
AACCD4473F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Trader, Importer and Exporter of Fabrics and
Readymade Garments |
RATING &
COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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. It is progressing
well. Trade relations are fair. Directors are reported as experienced,
respectable and having satisfactory means of their own. Payments are reported
as usually correct and as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Dinesh Jaiswal |
|
Designation : |
Director |
|
Contact No.: |
91-9820709912 |
|
Date : |
07.07.2008 |
LOCATIONS
|
Registered Office / Administrative Office : |
A-1/116, Shah and Nahar Industrial Estate, Sitaram Jhadav Marg, Lower
Parel [West], Mumbai 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66103950 / 51 / 52 / 53 / 55 |
|
Mobile No.: |
91-9820709912 / 9323610071 [Mr. Dinesh Jaiswal] |
|
Fax No.: |
91-22-66103954 |
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E-Mail : |
djexport_1@rediffmail.com / sales@j-marksinternational.com
/ sales@djexim.com |
|
Website : |
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|
Area : |
780 sq. ft. [Leased] |
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|
|
|
Corporate Office : |
5, Vasant Niwas, R. R. T. Road, Mulund West, Mumbai 400013,
Maharashtra, India |
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Tel. No.: |
91-22-66103951 |
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Fax No.: |
91-22-66103954 |
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|
|
|
Factory : |
D. No. 9, 1st Floor, R Chetty Thottom, T. V. K Nagar
Estate, College Road, Tirupur 641602 |
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Mobile No.: |
91-9363011083 |
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Area : |
1900 sq. ft. [Leased] |
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|
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|
Wholesale and Retail Outlets : |
|
DIRECTORS
|
Name : |
Mr. Dinesh Jaiswal |
|
Designation : |
Director |
|
Address : |
A-204, Shree Mahavir Darshan, Opp. Penisula Corporate Park, V. S.
Marg, Lower Parel [West], Mumbai 400013, Maharashtra, India
|
|
PAN No.: |
ABVPJ5571B |
|
Date of Birth/Age : |
01.11.1970 |
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Qualification : |
Graduate |
|
Experience : |
10 Years |
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|
|
|
Name : |
Mrs. Sunita Jaiswal |
|
Designation : |
Director |
|
Address : |
A-204, Shree Mahavir Darshan, Opp. Penisula Corporate Park, V. S.
Marg, Lower Parel [West], Mumbai 400013, Maharashtra, India
|
|
Date of Birth/Age : |
23.01.1974 |
|
Qualification : |
Graduate |
|
Experience : |
7 Years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Dinesh Jaiswal |
|
2475000 |
|
Mrs. Sunita Jaiswal |
|
275000 |
|
Total |
|
2750000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Importer and Exporter of Fabrics and
Readymade Garments |
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|
|
|
Exports : |
|
|
Products : |
All types of Readymade Garments |
|
Countries : |
U.A.E., Singapore |
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|
|
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Terms : |
|
|
Selling : |
Credit [60-90 days] |
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|
|
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Purchasing : |
Credit [30 days] |
GENERAL
INFORMATION
|
Customers : |
Wholesalers and Retailers
|
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|
|
|
No. of Employees : |
108 [In Office : 10; In Factory : 10; In Branch : 88] |
|
` |
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|
Bankers : |
Branch Address : Mahim
Branch Credit Limit : Rs.
75.000 Millions Cash Credit
Branch Address : Dadar
[East] Branch
|
|
Banking
Relations : |
Satisfactory |
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|
|
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Auditors : |
|
|
Name : |
Dawda and Company Chartered Accountants |
|
Address : |
6, Bhavnagari Cottage, S. S. Wagh Marg, Naigaon, Dadar, Mumbai
400014 |
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Tel. No.: |
91-22-24187112 |
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E-Mail : |
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Associates/Subsidiaries : |
J-Marks Exim
[India] Private Limited Address : 58 and 59, 1st Floor, Nakshtra Cine Shoppe,
Ranade Road, Dadar [West], Mumbai 400013, Maharashtra, India Activities : Retail outlet of Readymade garments Bankers : 1. Central Bank of India 2. Axis
Bank D. J. Exports J- MARKS D. J. Exports and J-Marks |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2750000 |
Equity Shares |
Rs. 10/- each |
Rs. 27.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2750000 |
Equity Shares |
Rs. 10/- each |
Rs. 27.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
27.500 |
27.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
25.709 |
9.238 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
53.209 |
36.738 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
67.142 |
|
|
2] Unsecured Loans |
|
18.797 |
0.000 |
|
|
TOTAL BORROWING |
|
18.797 |
67.142 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
72.006 |
103.880 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
19.256 |
14.695 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.430 |
0.273 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
89.658 |
25.928 |
|
|
Sundry Debtors |
|
198.576 |
75.395 |
|
|
Cash & Bank Balances |
|
0.499 |
0.751 |
|
|
Other Current Assets |
|
0.150 |
0.000 |
|
|
Loans & Advances |
|
3.665 |
5.359 |
|
Total
Current Assets |
|
292.548 |
107.433 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
227.114 |
13.811 |
|
|
Provisions |
|
13.371 |
4.998 |
|
Total
Current Liabilities |
|
240.485 |
18.809 |
|
|
Net Current Assets |
|
52.063 |
88.624 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.257 |
0.288 |
|
|
|
|
|
|
|
|
TOTAL |
|
72.006 |
103.880 |
|
PROFIT & LO-SS
ACCOUNT
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
|
|
Sales Turnover |
|
517.928 |
79.401 |
|
|
Other Income |
|
3.996 |
1.609 |
|
|
Total Income |
|
521.924 |
81.010 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
24.829 |
3.785 |
|
|
Provision for Taxation |
|
8.357 |
1.256 |
|
|
Profit/(Loss) After Tax |
|
16.471 |
2.528 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency |
|
23.601 |
22.850 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
477.707 |
73.118 |
|
|
Administrative Expenses |
|
18.088 |
3.703 |
|
|
Depreciation & Amortization |
|
1.300 |
0.405 |
|
Total Expenditure |
|
497.095 |
77.226 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
|
3.16 |
3.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.79 |
4.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
7.96 |
3.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.47 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
4.87 |
2.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.22 |
5.71 |
D. J. EXPORTS [PROPRIETOR
DINESH GANGAPRASAD JAISWAL]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.11.2006 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietors Capital |
28.568 |
16.541 |
10.252 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.451 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
39.019 |
16.541 |
10.252 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31.977 |
35.493 |
10.018 |
|
|
2] Unsecured Loans |
2.500 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
34.477 |
35.493 |
10.018 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
73.496 |
52.034 |
20.270 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
14.864 |
3.599 |
3.971 |
|
|
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 |
24.481
|
11.048 |
9.925 |
|
|
Sundry Debtors |
54.518
|
27.202 |
15.035 |
|
|
Cash & Bank Balances |
4.410
|
0.857 |
0.654 |
|
|
Other Current Assets |
3.423
|
12.549 |
1.221 |
|
|
Loans & Advances |
0.527
|
0.216 |
0.150 |
|
Total
Current Assets |
87.359
|
51.872 |
26.985 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
28.727
|
3.437 |
10.686 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
28.727
|
3.437 |
10.686 |
|
|
Net Current Assets |
58.632
|
48.435 |
16.299 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
73.496 |
52.034 |
20.270 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
30.11.2006 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
106.503 |
80.056 |
45.975 |
|
|
Other Income |
0.956 |
1.143 |
1.220 |
|
|
Total Income |
107.459 |
81.199 |
47.195 |
|
|
|
|
|
|
|
|
Net Profit |
10.451 |
6.163 |
1.608 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
91.301 |
68.895 |
42.066 |
|
|
Export Expenses |
0.915 |
0.019 |
0.013 |
|
|
Audit Fees |
0.040 |
0.040 |
0.040 |
|
|
Depreciation & Amortization |
0.821 |
0.370 |
0.411 |
|
|
Other Expenses |
3.930 |
5.712 |
3.057 |
|
Total Expenditure |
97.007 |
75.036 |
45.587
|
|
KEY RATIOS
|
PARTICULARS |
|
30.11.2006 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
9.73
|
7.59 |
3.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.81
|
7.70 |
3.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.22
|
11.11 |
5.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
4.17 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.62
|
2.35 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.04
|
15.09 |
2.53 |
J- MARKS [PROPRIETOR
DINESH GANGAPRASAD JAISWAL]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietors Capital |
|
4.334 |
4.086 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
4.334 |
4.086 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.334 |
4.086 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.101 |
0.113 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
4.875 |
|
|
Sundry Debtors |
|
3.836 |
2.974 |
|
|
Cash & Bank Balances |
|
0.523 |
0.033 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
4.359 |
7.882 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.126 |
3.909 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.126 |
3.909 |
|
|
Net Current Assets |
|
4.233 |
3.973 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.334 |
4.086 |
|
PROFIT & LOSS
ACCOUNT
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
2.26 |
2.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
2.26 |
2.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
7.60 |
5.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.08 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.03 |
0.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
34.60 |
2.02 |
D. J. EXPORTS AND J-MARKS
[PROPRIETOR DINESH GANGAPRASAD JAISWAL]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 [Consolidated] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietors Capital |
|
20.875 |
14.338 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
20.875 |
14.338 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
35.493 |
10.018 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
35.493 |
10.018 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
56.368 |
24.356 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3.701 |
4.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
11.048 |
0.000 |
|
|
Sundry Debtors |
|
31.038 |
34.029 |
|
|
Cash & Bank Balances |
|
1.380 |
0.772 |
|
|
Other Current Assets |
|
12.549 |
0.000 |
|
|
Loans & Advances |
|
0.216 |
0.150 |
|
Total
Current Assets |
|
56.231 |
34.951 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
3.564 |
14.595 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
3.564 |
14.595 |
|
|
Net Current Assets |
|
52.667 |
20.356 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
56.368 |
24.356 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 [Consolidated] |
|
|
|
|
|
|
|
|
Sales Turnover |
|
95.054 |
62.498 |
|
|
Other Income |
|
1.143 |
1.220 |
|
|
Total Income |
|
96.197 |
63.718 |
|
|
|
|
|
|
|
|
Net Profit |
|
6.502 |
2.045 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
83.202 |
57.554 |
|
|
Accounting Charges |
|
0.072 |
0.072 |
|
|
Legal and Professional Expenses |
|
0.035 |
0.080 |
|
|
Office Expenses |
|
0.036 |
0.083 |
|
|
Printing and Stationery |
|
0.012 |
0.013 |
|
|
Salary |
|
0.496 |
0.470 |
|
|
Telephone Expenses |
|
0.067 |
0.050 |
|
|
Depreciation & Amortization |
|
0.383 |
0.424 |
|
|
Other Expenditure |
|
5.392 |
2.927 |
|
Total Expenditure |
|
89.695 |
61.673 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 [Consolidated] |
|
PAT / Total Income |
(%) |
|
6.75 |
3.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
6.84 |
3.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
10.85 |
5.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.31 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.87 |
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
15.78 |
2.39 |
LOCAL AGENCY
FURTHER INFORMATION
Details of Fixed
Assets
Land and Buildings Rs.
16.010 Millions
Plant and Machinery --
Furniture and Fixture Rs.
0.536 Million
Other Assets Rs.
2.576 Millions
Insurance Details
|
Units Assets Covered |
Policy No. / Cover Note |
Validity |
Sum Assured |
|
Retail Outlage and Office and Tirupur |
111200/11/08/11/00000068 |
07-04-08 to 06-04-09 |
Rs. 53.000 Millions |
|
Money in Transit |
111200/48/08/07/00000018 |
07-04-08 to 06-04-09 |
Rs. 1.000 Million |
Background
The company is dealing in 100 % cotton knitted
hosiery fabrics and readymade garments. Company is having wholesale and retail
chain outlets in Mumbai and Tirupur, [Tamilnadu].
Promoters Background
Mr. Dinesh Jaiswal started as a sub dealer in
1995 an dafter gaining sufficient experience in the fabrics and garment
industry, they started with a vision of Crop to Customers as wholesale and
retail chain outlets of garments business since 1997 in Mumbai at Dadar Manish
A/C Market under the Trademark of J-Marks International.
Current Banking Exposure of D. J. Exim India Private Limited
|
Present Bankers |
Corporation Bank, Mahim Branch, Mumbai |
|
|
|
|
Facility Enjoyed |
· Cash Credit Facility of Rs. 75.000 Millions from Corporation Bank · Mortgage Loan of Rs. 3.940 Millions from Corporation Bank |
|
|
|
|
Facility Required |
· Cash Credit Facility of Rs. 100.000 Millions · Continue Mortgage Loan of Rs. 3.940 Millions |
Sourcing of the Products
The Major items made of 100 % cotton knitted
hosiery fabrics in mens, childrens, Inner, Sports, Night and winder wears.
The per the vision of Crop to customers and the serialization in the above
field. They arrange and outsource with their dedicated and experienced staff
networks, with total backward integration in their product range. They are very
much conscious to implements their Crop to customers motto for that they
arrange knitting, dyeing, product planning, design etc. then after for cutting
and stitching, finishing, checking for quality control. Hence they are
outsourcing major varieties and quantities from Tirupur [Tamilnadu] it is
spread over to various well established workers for the fastest production and
dispatch of the ready goods from the knits city Tirupur Tamilnadu.
As their product requirements in this so many
varieties are involved i.e. mens Ladies, childerns Inner, Sports, Night and
Winter wear. They require varieties and huge quantities to hold the stocks for
dispatch their wholesales and Retail chain outlets.
Business Plan
At present D. J. Exim [India] Private Limited
having 9 chain outlets of wholesale and retail. They are also proposed to open
retail chain outlets around 40 Outlets in Mumbai, Thane, New Mumbai and all
other parts of Maharashtra, and in other metro cities in India, due to 85 % of
Indias retail market is concentrated in the 8 major cities. The top six cities
Mumbai, Delhi, Chennai, Kolkata, Bangalore and Hyderabad represent 6 % of
population and contribute 14 % of Indias GDP. Besides the 6 metros, India has
61 other cities with population greater than 0.5 million these cities represent
80 % of Indias population and contributes about 14 % to the countrys GDP.
Now a day every multinational company is
venturing into retail corporate in the country, as margin and turnover is also
excellent. Due to increase in above operating area and increase in working
capital limit they would easily achieve more than targeted turnover. They have
taken targeted sales is very conservatively. Currently as above they are
operating 9 chain outlets and they are planning and working to expand further
40 outlets.
Collateral Security
|
Nature of Security |
Total Value [In Millions] at the time of renewal on 31.12.2007 |
Total Value [In Millions] current Market value dated 09.03.2008 |
Basis |
|
|
|
|
|
|
EMG / First charge of Premises G 65 and 66,
Dadar Manish Market, Senapati Bapat Marg, Dadar [West], Mumbai 400028 |
14.000 |
23.700 |
Valuation by P. B. Jadhav and Associates |
|
|
|
|
|
|
Shop No. 55A, 55B, 56 A, Nakshatra Cine Shoppe, Ranade Road, Dadar
[West], Mumbai 400028 |
21.800 |
31.000 |
Valuation by P. B. Jadhav and Associates |
|
|
|
|
|
|
EMG of Flat No. A/203, Mahavir Darshan, veer
Santanji Marg, Opp. Peninusula Towers, Lower Parel [West], Mumbai 400013 |
5.100 |
9.600 |
Valuation by P. B. Jadhav and Associates |
|
|
|
|
|
|
EMG of Flat No. A/204, Mahavir Darshan, veer
Santanji Marg, Opp. Peninusula Towers, Lower Parel [West], Mumbai 400013 |
5.100 |
9.600 |
Valuation by P. B. Jadhav and Associates |
|
Total |
46.000 |
73.900 |
|
Guarantors
|
Name of Guarantors |
Networth [Rs in Millions] at the time of renewal |
Networth [Rs in Millions] current as on 31.03.2008 |
|
Shri Prakash Mishrilal Kanojia |
19.800 |
21.100 |
|
Dinesh Ganga Prasad Jaiswal |
41.400 |
59.200 |
|
Sunita Dinesh Jaiswal |
9.500 |
12.400 |
OPERATING STATEMENT
Rs in Millions
|
PARTICULAR |
31.03.2008 Provisional |
31.03.2009 Estimated |
31.03.2010 Projected |
|
|
|
|
|
|
Gross Sales |
|
|
|
|
Sales Export |
0.000 |
0.000 |
0.000 |
|
Sales Local |
517.928 |
800.000 |
950.000 |
|
Total Gross Sales |
517.928 |
800.000 |
950.000 |
|
|
|
|
|
|
Excise Duty |
|
|
|
|
|
|
|
|
|
Net
Sales |
517.928 |
800.000 |
950.000 |
|
Growth in sales |
179 % |
54 % |
19 % |
|
COST OF SALES |
|
|
|
|
i] Raw Materials [Including stores and other items used in
the process of manufacture] |
|
|
|
|
[a] Imported |
|
|
|
|
[b] Indigenous |
541.437 |
736.000 |
870.000 |
|
ii] Stores and Spares |
|
|
|
|
iii] Other Spares |
|
|
|
|
[a] Imported |
|
|
|
|
[b] Indigenous |
|
|
|
|
iv] Power and Fuel |
1.244 |
1.375 |
1.525 |
|
v] Direct labour |
1.923 |
2.125 |
2.350 |
|
Repairs and Maintenance |
|
|
|
|
Other Manufacturing Expenses |
|
|
|
|
vi] Depreciation |
1.300 |
1.170 |
1.050 |
|
vii] SUB TOTAL |
545.904 |
740.670 |
874.925 |
|
|
|
|
|
|
viii] Add : Opening Stocks in process |
|
|
|
|
Sub Total |
545.904 |
740.670 |
874.925 |
|
ix] Deduct : Closing Stock in Process |
|
|
|
|
|
|
|
|
|
x]
Cost of production |
545.904 |
740.670 |
874.925 |
|
|
|
|
|
|
xi] Add : Opening Stock of finished goods |
25.927 |
89.658 |
120.000 |
|
Sub total |
571.831 |
830.328 |
994.925 |
|
xii] Deduct: Closing Stock in - finished goods |
89.658 |
120.000 |
150.000 |
|
|
|
|
|
|
xiii] Total Cost of Sales |
482.173 |
710.328 |
844.925 |
|
Gross Profit |
35.755 |
89.672 |
105.075 |
|
Gross Profit / Loss |
6.90 % |
11.21 % |
11.06 % |
|
Selling general |
|
|
|
|
administrative expenses |
6.393 |
24.000 |
28.500 |
|
SUB TOTAL |
488.566 |
734.328 |
873.425 |
|
Operation profit before interest |
29.362 |
65.672 |
76.575 |
|
Interest on CC |
8.497 |
18.900 |
21.600 |
|
Interest on TL |
|
|
|
|
Other Interests |
|
|
|
|
Total Interest |
8.497 |
18.900 |
21.600 |
|
Operating Profit after Interest |
20.865 |
46.772 |
54.975 |
|
Add : Other non operating Income |
|
|
|
|
Interest / Dividend / Royalties etc |
|
|
|
|
Other Income |
3.996 |
|
|
|
Sub Total |
3.996 |
|
|
|
Deduct other Non Operating Expenses |
|
|
|
|
Interest / Dividend / Royalties etc |
|
|
|
|
Other Income |
|
|
|
|
Intangibles written off I |
0.032 |
0.032 |
0.032 |
|
Sub Total |
0.032 |
0.032 |
0.032 |
|
Net of other non operating |
|
|
|
|
Income / Expenses |
3.964 |
[0.032] |
[0.032] |
|
Profit before Tax / Loss [PBT ] |
24.829 |
46.740 |
54.943 |
|
Provision for Taxes |
8.357 |
16.340 |
19.280 |
|
Net Profit / Loss [PAT] |
16.472 |
30.400 |
35.663 |
|
Cash Accruals |
17.804 |
31.602 |
36.745 |
|
Dividend Paid + IT on Dividend |
|
|
4.765 |
|
Retained Profit |
16.472 |
30.400 |
30.898 |
|
Retained Cash Profit |
17.804 |
31.602 |
31.980 |
|
RM Content in sales |
93 % |
89 % |
89 % |
|
PBDIT / Sales |
6.69 % |
8.35 % |
8.17 % |
|
Operating Profits / Sales |
4.03 % |
5.85 % |
5.79 % |
|
PBT / sales |
4.79 % |
5.84 % |
5.78 % |
|
PAT / Sales |
3.18 % |
3.80 % |
3.75 % |
|
Cash Accruals / Sales |
3.44 % |
3.95 % |
3.87 % |
ANALYSIS OF BALANCE SHEET
Rs in Millions
|
PARTICULARS |
31.03.2008 Provisional |
31.03.2009 Estimated |
31.03.2010 Projected |
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
01 Short Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
79.947 |
100.000 |
160.000 |
|
|
|
|
|
|
Sub
Total [A] |
79.947 |
100.000 |
160.000 |
|
|
|
|
|
|
02 Short Term Borrowings from others |
|
|
|
|
03 Sundry creditors [Trade] |
147.011 |
92.000 |
55.500 |
|
04 Advance payments from customers / Deposits from
dealers |
|
|
|
|
05 Provision for tax [net of Tax paid] |
13.371 |
0.000 |
0.000 |
|
06 Dividend and Dividend Tax payable |
|
|
|
|
07 other statutory liabilities [due within one year] |
0.156 |
0.250 |
0.300 |
|
08 Deposits / Installments of term loans / DPGs /
debentures, etc [due within one year] |
|
|
|
|
09 Other current liabilities and provisions [due within
one year] |
|
|
|
|
|
|
|
|
|
Sub Total [B] |
160.538 |
92.250 |
55.800 |
|
10 TERM LIABILITIES [Total of 1 to 9] |
240.485 |
192.250 |
215.800 |
|
|
|
|
|
|
11 Debentures [not maturing within one year] |
|
|
|
|
12 Preference Shares [Redeemable after 1 year] |
|
|
|
|
13 Term loans [excluding installments payable within
one year] |
|
|
|
|
14 Deferred Sales Tax / Deferred Loan Deferred Payment
Credit [Excluding installments due within one year] |
|
|
|
|
15 Term deposit [repayable after one year] |
18.796 |
0.000 |
0.000 |
|
16 other Term Liabilities |
|
|
|
|
17 TOTAL TERM LIABILITIES [Total of 11 to 16] |
18.796 |
|
|
|
18 TOTAL OUTSIDE LIABILITIES [10 + 17] |
259.281 |
192.250 |
215.800 |
|
|
|
|
|
|
NET WORTH |
|
|
|
|
19 Share Capital Account |
27.500 |
27.500 |
27.500 |
|
20 General Reserve |
|
|
|
|
21 Revaluation Reserve |
|
|
|
|
22 Other Reserves [Excluding provisions] |
|
|
|
|
23 Surplus [+] or deficit [-] in Profit and Loss Account |
25.710 |
56.110 |
87.008 |
|
|
|
|
|
|
24 NET WORTH [19+23] |
53.210 |
83.610 |
114.508 |
|
25 TOTAL LIABILITIES [18+24] |
312.491 |
275.860 |
330.308 |
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
26 Cash and Bank Balance |
0.500 |
0.750 |
0.780 |
|
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] |
198.576 |
133.500 |
158.500 |
|
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 |
|
|
|
|
II] Stock in process |
|
|
|
|
II] Finished Goods |
89.658 |
120.000 |
150.000 |
|
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 |
3.666 |
2.000 |
2.000 |
|
34 TOTAL CURRENT ASSETS [Total of 26 to 33] |
292.400 |
256.250 |
311.280 |
|
FIXED ASSETS |
|
|
|
|
35 Gross Block |
21.779 |
22.500 |
23.000 |
|
36. Depreciation to date |
2.524 |
3.694 |
4.744 |
|
|
|
|
|
|
37 NET BLOCK [35-36] |
19.255 |
18.806 |
18.256 |
|
|
|
|
|
|
OTHER NON CURRENT ASSETS |
|
|
|
|
38 Investments / book / debts / advances / deposits which
are not Current Assts |
|
|
|
|
I] [a] Others Investments in Subsidiary |
|
|
|
|
[b] Investment in Others |
0.430 |
0.430 |
0.430 |
|
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 investments |
0.150 |
0.150 |
0.150 |
|
|
|
|
|
|
41 TOTAL OTHER NON CURRENT ASSETS [total of 38 to 40] |
0.580 |
0.580 |
0.580 |
|
42 Intangible assets [Patents, goodwill, prelim, expenses,
bad / doubtful debts Not provided for etc.] |
0.256 |
0.224 |
0.192 |
|
|
|
|
|
|
43 TOTAL ASSETS [Total of 34, 37, 41 and 42] |
312.491 |
275.860 |
330.308 |
|
44 TANGIBLE NET WORTH [24-22] |
52.954 |
83.386 |
114.316 |
|
45 NET WORKING CAPITAL |
51.915 |
64.000 |
95.480 |
MOVEMENT OF TNW
Rs in Millions
|
PARTICULAR |
31.03.2008 Provisional |
31.03.2009 Estimated |
31.03.2010 Projected |
|
|
|
|
|
|
Opening TNW |
36.450 |
52.954 |
83.386 |
|
Plough back of profit |
16.472 |
30.400 |
30.898 |
|
Increase in capital / reserve |
0.000 |
|
0.000 |
|
Intangibles written off |
0.032 |
0.032 |
0.032 |
|
Closing TNW |
52.954 |
83.386 |
114.316 |
|
Current Ratio |
0.122 |
0.133 |
0.144 |
|
Debt / Equity |
0.035 |
|
|
|
TOL / Equity |
0.490 |
0.231 |
0.189 |
|
Current assets / Tangible Assets |
93.65 % |
92.97 % |
94.29 % |
|
ROCE [PBDIT including other income / TTA] |
0.011 |
0.024 |
0.024 |
|
Inventory + Receivables as date of Net
Sales |
20.000 |
11.600 |
11.900 |
FUND FLOW ANALYSIS
Rs in Millions
|
PARTICULAR |
31.03.2008 Provisional |
31.03.2009 Estimated |
31.03.2010 Projected |
|
|
|
|
|
|
Long Term Sources |
|
|
|
|
Profit after Tax |
16.472 |
30.400 |
35.663 |
|
Depreciation |
1.300 |
1.170 |
1.050 |
|
Intangible written off |
0.032 |
0.032 |
0.032 |
|
Increase in capital and reserve |
|
|
0.000 |
|
Increase in term Liability |
15.098 |
|
|
|
Decrease in Fixed Assets |
|
|
|
|
Decrease in Other non current assets |
3.277 |
|
|
|
|
36.179 |
31.602 |
36.745 |
|
Long tern uses |
|
|
|
|
Net loss |
|
|
|
|
Increase in Intangibles |
|
|
|
|
Decrease in capital and Reserve /Share
Buybacks |
0.000 |
|
|
|
Decrease in Term Liabilities |
|
18.796 |
|
|
Increase in Fixed Assets |
5.585 |
0.721 |
0.500 |
|
Increase in Non current assets |
|
|
|
|
Increase in Intangible |
|
|
|
|
Dividend paid |
|
|
4.765 |
|
|
5.585 |
19.517 |
5.265 |
|
Surplus / Deficit |
30.594 |
12.085 |
31.480 |
|
Short Term Sources |
|
|
|
|
Increase in Bank Borrowing |
16.505 |
20.053 |
60.000 |
|
Increase in other current liability |
141.728 |
|
|
|
Decrease in Inventory |
|
|
|
|
Decrease in Receivables |
|
65.076 |
|
|
Decrease in cash / deposit s/ Govt sec. |
1.751 |
|
|
|
Decrease in other current assets |
|
1.666 |
|
|
|
159.984 |
86.795 |
60.000 |
|
Short tern uses |
|
|
|
|
Increase
in Inventory |
63.731 |
30.342 |
30.000 |
|
Increase in Receivables |
123.182 |
|
25.000 |
|
Increase in cash / deposit s/ Govt sec. |
|
0.250 |
0.030 |
|
Increase in other current assets |
3.665 |
|
|
|
Decrease in other current liabilities |
|
68.288 |
36.450 |
|
Decrease in Bank Borrowings |
|
|
|
|
|
190.578 |
98.880 |
91.480 |
|
Summary in fund Flow Analysis |
|
|
|
|
Long Term Sources |
36.179 |
31.602 |
36.745 |
|
Surplus / Deficit |
5.585 |
19.517 |
5.265 |
|
Short term sources |
30.594 |
12.085 |
31.480 |
|
Short term uses |
159.984 |
86.795 |
60.000 |
|
Surplus / Deficits |
190.578 |
98.880 |
91.480 |
|
|
[30.594] |
[12.085] |
[31.480] |
RATIO ANALYSIS
Rs in Lakhs
|
Particulars |
31.03.2008 Provisional |
31.03.2009 Estimated |
31.03.2010 Projected |
|
|
|
|
|
|
Ratios |
|
|
|
|
1 Growth in sales |
179% |
54% |
19% |
|
2 Gross Profit Ratio |
6.90% |
11.21% |
11.06% |
|
3 PBDIT/sales |
4.03% |
5.85% |
5.79% |
|
4 Operating Profits/Sales |
4.03% |
5.85% |
5.79% |
|
5 PBT/Sales |
4.79% |
5.84% |
5.78% |
|
6 PAT/Sales |
3.18% |
3.80% |
3.75% |
|
7 Cash Accruals/Sales |
3.44% |
3.95% |
3.87% |
|
8 Sales/Equity |
9.78 |
9.59 |
8.31 |
|
9 Sales/TTA |
1.66 |
2.90 |
2.88 |
|
10 Interests Coverage (Interests/PBDIT) |
28.94% |
287.78% |
28.21% |
|
11 PBDIT/ Interest (Times) |
333.73 |
656.78 |
765.80 |
|
12 Deferred Debts/ Equity |
0.35 |
|
|
|
13 TOL/ Equity |
4.90 |
2.31 |
1.89 |
|
14 Current Ratio (CA/CL) |
1.22 |
1.33 |
1.44 |
|
15 Current Ratio Excluding TL Installments |
1.22 |
1.33 |
1.44 |
|
16 CA/ TTA (%) |
93.65% |
92.97% |
94.29% |
|
17 Inventory + Receivables as days of Net Sales |
203 |
116 |
119 |
|
18 Bank Borrowings/ Current Assets |
27.34% |
39.02% |
51.40% |
|
19 RM Content in Sales |
93% |
89% |
89% |
|
20 ROCE (PBDIT incl. Other income/ TTA) |
11.09% |
24.24% |
23.50% |
KEY INDICATORS
|
Particulars |
31.03.2008 Provisional |
31.03.2009 Estimated |
31.03.2010 Projected |
|
|
|
|
|
|
Net sales |
517.928 |
800.000 |
950.000 |
|
Operating Profit |
20.865 |
46.772 |
54.975 |
|
(Net) Other income |
3.964 |
[0.032] |
[0.032] |
|
PBDIT/ Sales |
4.03% |
5.85% |
5.79% |
|
PBT/ Sales |
4.79% |
5.84% |
5.78% |
|
PAT |
16.472 |
30.400 |
35.663 |
|
PAT/ Net Sales |
3.18% |
3.80% |
3.75% |
|
Cash Accruals |
17.804 |
31.602 |
31.980 |
|
Cash Accruals / Sales |
3.44% |
3.95% |
3.87% |
|
Paid up Capital |
27.500 |
27.500 |
27.500 |
|
TNW |
52.954 |
83.386 |
114.316 |
|
TOL / TNW |
0.490 |
0.231 |
0.189 |
|
C/R |
0.122 |
0.133 |
0.144 |
|
C/R excluding T/ L installments due in 1 year |
0.122 |
0.133 |
0.144 |
|
Net sales / TTA (Times) |
0.166 |
0.290 |
0.288 |
|
PBT / TTA (%) |
7.95% |
16.96% |
16.64% |
|
Operating costs / Sales (%) |
95.97% |
94.15% |
94.21% |
|
Bank Finance / Current Assets (%) |
27.34% |
39.02% |
51.40% |
|
Inv + Rec. / N.S. (DAYS) |
203 |
116 |
119 |
|
NWC/ CA (%) |
17.75% |
24.98% |
30.67% |
PROFIT AND LOSS ACCOUNT
Rs in Millions
|
PARTICULAR |
31.03.2008 Provisional |
31.03.2009 Estimated |
31.03.2010 Projected |
|
|
|
|
|
|
Actual duration of Accounting |
|
|
|
|
|
|
|
|
|
Gross Sales |
|
|
|
|
-
Domestic |
517.900 |
800.000 |
950.000 |
|
-
Export |
0.000 |
|
|
|
Sub Total [Gross Sales] |
517.900 |
800.000 |
950.000 |
|
|
|
|
|
|
Less Excise Duty |
|
|
|
|
|
|
|
|
|
Net Sales |
517.900 |
800.000 |
950.000 |
|
|
|
|
|
|
% wise rise / fall in net sale as compared
to previous year |
1785.900 |
544.700 |
187.500 |
|
|
|
|
|
|
Other Operating Income |
|
|
|
|
Export Incentives |
|
|
|
|
Duty Drawback |
4.000 |
0.000 |
0.000 |
|
Others |
|
|
|
|
|
|
|
|
|
Total Operating Income |
521.900 |
800.000 |
950.000 |
|
|
|
|
|
|
Cost of Sales |
|
|
|
|
Raw materials consumed |
|
|
|
|
Imported |
|
|
|
|
Indigenous |
541.400 |
736.000 |
870.000 |
|
|
|
|
|
|
Other Spares Consumed |
|
|
|
|
Imported |
|
|
|
|
Indigenous |
|
|
|
|
|
|
|
|
|
Export Expenses |
|
|
|
|
Direct labour and wages |
1.900 |
2.100 |
2.300 |
|
Other manufacturing expenses |
|
|
|
|
Depreciation |
1.300 |
1.200 |
1.100 |
|
Sub Total |
544.600 |
739.300 |
873.400 |
|
|
|
|
|
|
Add : Op. Stock of WIP |
|
|
|
|
Less : Cl. Stock of WIP |
|
|
|
|
|
|
|
|
|
Total Cost of Production |
544.600 |
739.300 |
873.400 |
|
|
|
|
|
|
Add : Opening Stock of Finished Goods |
25.900 |
89.700 |
120.000 |
|
Less : Cl. Stock of Finished Goods |
89.700 |
120.000 |
150.000 |
|
|
|
|
|
|
Total Cost of Sales |
480.800 |
709.000 |
843.400 |
|
|
|
|
|
|
Selling, Gen. and Administration Expenses |
7.700 |
25.500 |
30.100 |
|
Cost of Sales + SGA |
488.500 |
734.500 |
873.400 |
|
Operating Profit Before Interest |
33.400 |
65.500 |
76.600 |
|
Interest |
8.500 |
18.900 |
21.600 |
|
|
|
|
|
|
Operating Profit after Interest |
24.900 |
46.600 |
55.000 |
|
Non Operating Items |
|
|
|
|
Add Non Operating Income |
|
|
|
|
Profit on sale of assents / investments |
|
|
|
|
Investments and Dividend |
|
|
|
|
Forex Gains |
|
|
|
|
Non-Op Income from subsidiaries |
|
|
|
|
Tax Refund |
|
|
|
|
Other Non Operating Income |
0.000 |
0.00 |
0.000 |
|
Total Non Operating Income |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Deduct Non Operating Expenses |
|
|
|
|
Loss on sale of assets |
|
|
|
|
Prem. Expenses W/off |
|
|
|
|
Other Non-operating Expenses |
|
|
|
|
Total Non-operating Expenses |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net of Non operating Income / Expenses |
0.000 |
0.000 |
0.000 |
|
Profit Before Tax |
24.900 |
46.600 |
55.000 |
|
Provision for taxation |
|
|
|
|
Current |
8.300 |
16.300 |
19.300 |
|
Deferred |
|
|
|
|
Sub Total : Provision for Taxation |
8.300 |
16.300 |
19.300 |
|
|
|
|
|
|
Net Profit After Tax |
16.600 |
30.300 |
35.700 |
|
|
|
|
|
|
Extraordinary Items adjustments |
|
|
|
|
Extraordinary Income adjustments [+] |
|
|
|
|
|
|
|
|
|
Sub total Extraordinary Items Items |
0.00 |
0.00 |
0.00 |
|
Adjusted PAT [excl Extraordinary Items] |
16.600 |
30.300 |
35.700 |
|
|
|
|
|
|
Dividend Paid |
|
|
|
|
On Equity Capital |
|
|
4.800 |
|
On Preference Share Capital |
|
|
|
|
|
|
|
|
|
Dividend Tax |
|
|
|
|
Partners withdrawal |
|
|
|
|
Dividend [%] |
|
|
|
|
Retained Profit |
16.600 |
30.300 |
31.000 |
|
|
|
|
|
|
Cash Accruals |
17.900 |
31.500 |
36.800 |
|
|
|
|
|
|
BALANCE SHEET |
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
Short term borrowings from banks [Including
bills purchased, discounted and excess borrowings placed on repayment basis] Note : Bills negotiated under LC should be excluded
|
|
|
|
|
|
|
|
|
|
Bank Borrowings From the Bank |
79.900 |
100.000 |
160.000 |
|
Bank Borrowings From other Banks |
0.00 |
|
|
|
Sub Total |
79.900 |
100.000 |
160.000 |
|
|
|
|
|
|
Short term Borrowings from others |
|
|
|
|
Creditors for purchases |
147.000 |
92.000 |
55.500 |
|
|
|
|
|
|
Advance / payments from customers / deposits
from dealers |
|
|
|
|
|
|
|
|
|
Provisions
|
|
|
|
|
Tax |
13.400 |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Dividends payable |
|
|
|
|
|
|
|
|
|
Statutory liabilities due within one year |
0.200 |
0.300 |
0.300 |
|
|
|
|
|
|
Installments of Term Loans / Deferred
payment credits / Debentures / deposits / redeemable preference shares [due within
one year] |
|
|
|
|
|
|
|
|
|
Deposits |
|
|
|
|
|
|
|
|
|
Other current Liabilities due within one
year |
|
|
|
|
|
|
|
|
|
Total current liabilities |
240.500 |
192.300 |
215.800 |
FIXED ASSETS
- Building
- Office Equipments
- Computer
- Furniture and Fixture
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 Intl
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 companys 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.43.13 |
|
UK Pound |
1 |
Rs.85.02 |
|
Euro |
1 |
Rs.67.77 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
This score serves as a reference to assess SCs 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 |
|