MIRA
INFORM REPORT
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Report Date : |
12.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
GAUTAM RECYLING RESOURCES PRIVATE LIMITED |
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Registered Office : |
C7/57-59, Mrigsir Complex, Opposite Advance Complex, N. H.
No. 8, GIDC, District Valsad, Vapi - 396 195, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 (Gautam Enterprises) |
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Date of Incorporation : |
05.07.1993 |
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Com. Reg. No.: |
19775 |
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CIN No.: [Company
Identification No.] |
U25209GJ1993PTC019775 |
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Legal Form : |
Started in 1990 as a Sole Proprietory Concern but w.e.f. 1st April 2008 has turned
to Private Limited under the name Gautam Recycling Resources Private
Limited |
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Line of Business : |
Importer of Waste Papers, OCC, NDLKC, Mix Waste, Office Waste Pulp, Colour And White Paper Sulphite, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 65000 |
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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 has taken over the running business of erstwhile Sole
Proprietory Concern Gautam Enterprises, w.e.f, 01.04.2008, as confirmed by
Mr. R Subramaniam, Managing Director of the company. Subject was a dormant
company till 31.03.2008, as further confirmed by the management. Trade relations are fair. Business is active. Payments are reported as
usually correct and as per commitments. In view of the strong back ground, the company can be considered
normal for business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. R Balasubramaniam |
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Designation : |
Managing Director |
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Contact No.: |
91-9824101950 |
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Date : |
12.05.2008 |
LOCATIONS
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Registered Office : |
C7/57-59, Mrigsir Complex, Opposite Advance Complex, N. H. No. 8, GIDC, District Valsad, Vapi - 396 195, Gujarat, India |
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Tel. No.: |
91-260-2432998/ 2430106 |
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Fax No.: |
91-260-2431988 |
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Mobile No.: |
91-9824101950 |
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E-Mail : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
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Administrative Office : |
C7/57-59, Mrigsir Complex, Opposite Advance Complex, N. H. No. 8, GIDC, District Valsad, Vapi - 396 195, Gujarat, India |
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Tel. No.: |
91-260-2432998/ 2430106 |
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Fax No.: |
91-260-2431988 |
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Mobile No.: |
91-9824101950 |
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E-Mail : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
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Branches : |
No. 31, Kolsawala Building, 16 Cawasji Patel Street, Fort, Mumbai –
400 001, Maharashtra, India |
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Tel. No.: |
91-22-22020084 |
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Area : |
1000 Sq.fts (approximately) |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. R Balasubramaniam |
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Designation : |
Managing Director |
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Qualification : |
Post Graduate Diploma in Business Administration and Member of Institute of Management
Consultants of India |
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Date of Birth/Age : |
58 years |
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Name : |
Mrs. Nagalaxmi Balasubramaniam |
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Designation : |
Director |
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Date of Birth/Age : |
54 years |
BUSINESS DETAILS
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Line of Business : |
Importer of Waste Papers, OCC, NDLKC, Mix Waste, Office Waste Pulp, Colour And White Paper Sulphite, etc. |
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Products : |
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Imports : |
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Countries : |
USA Europe, Middle East, Australia, Singapore, China |
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Terms : |
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Selling : |
Cash, Credit (90 Days) |
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Purchasing : |
D/P |
GENERAL
INFORMATION
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Suppliers : |
Some of its' major suppliers are : Ø North West Fibres, USA Ø Connecticut Fibres, USA Ø Paper Chase Limited, Sharjah Ø Van Gelder, The Netherlands Ø Pacific Forest Resources, The Netherlands Ø Global Impex Inc., USA Ø General Industrial Supply Company, USA Ø Allan & Company, USA Ø Harmonn Associates, USA Ø Euro Overseas, Antwerp Ø Anthon B. Nelson, France Ø EGT BVBA, Belgium Ø Cellmark Agencies, USA |
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Customers : |
Its' major customers include paper manufacturers and end users in India. Some of its major customers are : Ø Aqfa Marketing, Kerala Ø Agrashakti Paper Mills Limited Ø Arya Paper Mills Limited Ø Brown Paper Technologies Limited Ø Gayatri Shakti Paper Mill Ø N.R. Agarwal Industries Limited Ø Nachiketa Paper Mills Limited Ø Shah Pulp and Paper Mills Limited Ø Shree Swami Harigiri Paper Mill Ø Suman Paper and Board Limited Ø Shree Ambeshwar Paper Mill Ø Super Deluxe Paper Mills Private Limited Ø Mani Polymers Limited Ø N R Paper Mills Limited |
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No. of Employees : |
Around 20 |
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Bankers : |
Ø State Bank of India Vapi Industrial Township Branch, GIDC, Vapi, Gujarat, India Ø Indusind Bank Limited Maker Chambers IV, Ground Floor, Nariman Point, Mumbai - 400 021, Maharashtra, India |
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Facilities : |
The concern enjoys banking facility of Rs. 20.000 millions from State Bank of India. The concern enjoys banking facility of Rs. 55.000 millions from Indusind Bank Limited. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B. A. Desai and Associates Chartered Accountants |
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Address : |
103, Khatri House, Opposite Heena Motors, GIDC, Char
Rasta, Vapi, Gujarat, India |
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Tel. No.: |
91-2638-220125 / 228825 |
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Associates/Subsidiaries : |
MAF Plast India Private Limited Address: C7/57-59, Mrigsir Complex, Opposite Advance Complex, N. H. No. 8, GIDC, District Valsad, Vapi - 396 195, Gujarat, India Activity: Importer of Waste Papers, OCC, NDLKC, Mix Waste,
Office Waste Pulp, Colour And White Paper Sulphite, etc. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 16.177 millions |
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Borrowed : |
--- |
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Total : |
Rs. 16.177 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
[GAUTAM
ENTERPRISES]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Proprietor’s Capital |
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16.177 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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16.177 |
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LOAN FUNDS |
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1] Secured Loans |
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446.016 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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446.016 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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462.193 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.909 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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9.377 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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420.702 |
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Cash & Bank Balances |
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3.505 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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185.068 |
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Total
Current Assets |
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609.275 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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158.368 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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158.368 |
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Net Current Assets |
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450.907 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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462.193 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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1871.052 |
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Other Income |
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0.000 |
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Total Income |
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1871.052 |
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Profit/(Loss) Before Tax |
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5.936 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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5.936 |
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Expenditures : |
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Administrative Expenses |
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0.125 |
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Salaries, Wages, Bonus, etc. |
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1.088 |
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Payment to Auditors |
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0.012 |
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Interest |
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12.980 |
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Insurance Expenses |
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0.045 |
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Depreciation & Amortization |
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0.425 |
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Other Expenditure |
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1856.644 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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0.32 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.32 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.96 |
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Return on Investment (ROI) (PBT/Networth) |
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0.37 |
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Debt Equity Ratio (Total Liability/Networth) |
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37.36 |
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Current Ratio (Current Asset/Current Liability) |
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3.84 |
LOCAL AGENCY
FURTHER INFORMATION
Nil
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.38 |
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UK Pound |
1 |
Rs.80.76 |
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Euro |
1 |
Rs.63.89 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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63 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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