MIRA
INFORM REPORT
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Report Date : |
24.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
GURIND INDIA PRIVATE LIMITED |
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Registered Office : |
60 Janpath, New Delhi - 110001 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.01.1987 |
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Com. Reg. No.: |
55 -26690 |
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CIN No.: [Company
Identification No.] |
U74899DL1987PTC026690 |
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IEC : |
0588162086 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELG06515F |
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PAN No.: [Permanent
Account No.] |
AAACG0769K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Glass Products |
RATING &
COMMENTS
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MIRAs 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 192168 |
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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 satisfactory track records. Directors are reported as experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. S. C. Madan |
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Designation : |
Chief Manager |
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Contact No.: |
91-9968072326 |
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Date : |
24.05.2008 |
LOCATIONS
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Registered Office/ Corporate Office : |
60, Janpath, New
Delhi -110001, India |
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Tel. No.: |
91-22-23320774 /
23322987/ 23324907 |
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Fax No.: |
91-22-23329084 |
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Mobile : |
91-9968072326 |
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E-Mail : |
janpath@gurindglass.com |
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Website : |
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Area : |
2500 sq. mtr. |
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Location : |
Commercial |
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Marketing
Office / Product Display: |
D-172, Okhla
Industrial Area, Phase-l, New Delhi-110020, India |
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Tel. No.: |
91-22-26812011 /
26818876 / 26810687 / 26819009 |
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Fax No.: |
91-22-26810683 |
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E-Mail : |
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Area : |
30000 sq. fts. |
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Location : |
Owned |
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Factory : |
W-34, 35, 36,
Sector-XI, Noida Distt, Gautambudh Nagar (Uttar Pradesh), India |
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Tel. No.: |
91-22-2551364,
2554218,2535659,5335830 |
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Fax No.: |
91-22-2555275 |
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E-Mail : |
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Area : |
65000 sq. ft. |
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Location : |
.Owned |
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Branches: |
Delhi Branch Kolkata Branch Fax No. :91-33 2475491 |
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Location : |
Commercial |
DIRECTORS
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Name : |
Mr. S. Gurmeet Singh |
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Designation : |
Managing Director |
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Address : |
R-14, Nehru Enclave, Delhi 110 019, India |
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Date of Birth/Age : |
09.08.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
15.01.1987 |
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Name : |
Ms. Arti Singh |
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Designation : |
Director |
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Address : |
R-14, Nehru Enclave, Delhi 110 019, India |
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Date of Birth/Age : |
10.05.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
15.01.1987 |
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Name : |
Mr. Jogesh Kumar |
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Designation : |
Director |
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Address : |
J -190, Rajouri Garden, New Delhi , India |
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Date of Birth/ Age : |
52 years |
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Qualification : |
Graduate |
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Date of Appointment : |
15.01.1987 |
KEY EXECUTIVES
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Name : |
H. J. and Company |
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Designation : |
Company Secretary |
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Address : |
G 221, Nanakpura, New Delhi - 110021, India |
SHAREHOLDING
PATTERN
(As on 31.03.2007)
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Name of Shareholders |
No of Shares |
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Mr. Gurmeet S. Singh |
390000 |
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Mrs. Kaman Singh |
105000 |
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Mrs. Rekha Singh |
105000 |
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Total |
600000 |
(As on 31.03.2007):-
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Category |
Percentage |
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Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Glass Products |
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Products : |
Architectural
Glass ·
Insulating Glass ·
Toughened Glass ·
Heat Strengthened Glass ·
Glass Bricks Mirrors ·
Float Mirror ·
Antique Mirror ·
Bevelled Mirror ·
Decorative Framed Mirror ·
Prismatic Mirror Table
Tops/Tables Etched Glass ·
Grooved Glass ·
Bend Glass Export
Products ·
Decorative Mirrors ·
Ornamental ·
Coloured Mirror Borders ·
Plain Mirror Borders ·
Antique Mirror Borders ·
Screen Printed ·
Grooved Photo
Frames ·
Bend ·
Colored ·
Etched ·
Glass to Glass ·
Edged ·
Mirrored Platters/Bowls ·
Various shapes in Plain design and textured design Table
Tops ·
Various shapes in Beveled, Pencil/Flat edged and O.G. Edge Miscellaneous
Items ·
Clocks ·
Candle Stands ·
Incense Stick Stands ·
Flowers Vases ·
Napkin Holders ·
Ash Trays |
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Exports : |
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Products : |
Decorative Glass Mirror |
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Countries : |
· England · Australia · France · USA · UK · Australia · Sri Lanka |
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Imports : |
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Products : |
· Glass/ Mirror Sheet · Chemicals · Aluminium Channel |
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Countries : |
· Italy · Belgium · Chennai |
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Terms : |
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Selling : |
(30-60 days) |
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Purchases : |
(30-60 days) |
GENERAL
INFORMATION
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Customers : |
End Users ·
Indira Gandhi International Airport ·
American Embassy, New Delhi ·
Indira Gandhi Memorial Trust ·
British High Commission, New Delhi ·
D.L.F. Centre, New Delhi ·
Greece Embassy, New Delhi ·
Jawahar Bhawan ·
Qutar Embassy, New Delhi ·
Grindlays Bank, New Delhi ·
Brazil Embassy, New Delhi ·
Apollo Hospital, New Delhi ·
Jindal Strips Ltd., New Delhi ·
Charamwood, Faridabad ·
Oberoi, New Delhi ·
Allied Signal, Gurgaon ·
Royale Manor, Ahmedabad ·
Fortis Hospital, Mohali |
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No. of Employees : |
130 ( 10 Office and 120 Factory) |
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Bankers : |
M.41, Connay 40, Circw, New Delhi
54, Janpath, New Delhi- 110 001, India Email ID: sanjuprofessional@gmail.com |
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Facilities : |
The subject is enjoying the following facilities with Bank of India: · Packing Credit · Cash Credit |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Singhalmatta and Company Chartered Accountants |
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Address : |
B-21, Lajpath Nagar 1, New Delhi - 110024, India |
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Tel. No.: |
91-11-29810849/29818588 |
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E-Mail : |
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Name : |
D V Millal and Company Chartered Accountant |
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Address : |
101, Time House, Warirpur, Delhi, India |
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Tel. No.: |
91-11-27372313 |
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91-11-27372313 |
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Associates/Subsidiaries : |
Gurind Glass
Private Limited Trilokpur Road, Mozouzohron, Kulaamb (Manufacturer of Glass Products) Gurind Systems
Private Limited Trilokpur Road, Mozouzohron, Kulaamb (Manufacturer pf Aluminium Products) |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity shares |
Rs. 10/- each |
Rs. 10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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780000 |
Equity shares |
Rs. 10/-
each |
Rs. 7.800
millions |
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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 |
7.800 |
7.800 |
2.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
40.242 |
32.723 |
32.197 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
48.042 |
40.523 |
34.797 |
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LOAN FUNDS |
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1] Secured Loans |
57.494 |
41.416 |
21.735 |
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2] Unsecured Loans |
8.434 |
10.870 |
25.330 |
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TOTAL BORROWING |
65.928 |
52.286 |
47.065 |
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DEFERRED TAX LIABILITIES |
5.272 |
5.531 |
5.495 |
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TOTAL |
119.242 |
98.340 |
87.357 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
41.761 |
45.091 |
42.093 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.367 |
1.167 |
0.018 |
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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 |
27.302
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27.001
|
25.425 |
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Sundry Debtors |
67.339
|
31.658
|
25.662 |
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Cash & Bank Balances |
1.694
|
8.869
|
8.828 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
18.961
|
21.584
|
11.602 |
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Total
Current Assets |
115.296
|
89.112
|
71.517 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
34.880
|
33.654
|
23.792 |
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Provisions |
4.302
|
3.376
|
2.479 |
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Total
Current Liabilities |
39.182
|
37.030
|
26.271 |
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Net Current Assets |
76.114
|
52.082
|
45.246 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
119.242 |
98.340 |
87.357 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
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Sales Turnover |
|
|
229.096 |
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Other Income |
|
|
1.029 |
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Total Income |
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|
230.125 |
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Profit/(Loss) Before Tax |
|
|
11.798 |
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Provision for Taxation |
|
|
4.279 |
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Profit/(Loss) After Tax |
|
|
7.519 |
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Import Value |
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25.412 |
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Expenditures : |
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Cost of Goods Sold |
|
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195.251 |
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Depreciation |
|
|
3.762 |
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Interests |
|
|
5.536 |
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Admn. And Selling Expenses |
|
|
13.778 |
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Other Expenditure |
|
|
0.000 |
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Total Expenditure |
|
|
218.327 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007
|
31.03.2006
|
31.03.2005 |
|
PAT / Total Income |
(%) |
3.27
|
NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
5.15
|
NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.51
|
NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.19
|
2.21
|
2.11 |
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Current Ratio (Current Asset/Current Liability) |
|
2.94
|
2.40
|
2.72 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
·
DGM Bank of India
54, Janpath, New Delhi, India
Mr. P K Bansal
·
Conunential and
urnilum
Near Institute of Blind, Panchkuco Road, New Delhi, India
Mr. Sanjay Lamba
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U74899DL1987PTC026690 |
|
Name of the company |
GURIND INDIA PRIVATE LIMITED |
|
Address |
60, Janpath, New
Delhi -110001 |
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This Form is for |
Modification of charge |
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Type of Charges |
Immovable Property |
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Particular of the charge holder
|
Bank of India Address: 54 Janpath, New Delhi 110 001 Email ID: sanjuprofessional@gmail.com |
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Nature or description of the instrument creating charge |
Copy of oral assent for extension of
charge on cos immovable properties |
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Date of the instrument creating charge |
02.02.2007 |
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Amount Secure by the charge |
Rs. 83.400 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest: On term Loans and cash credit stock and book debts 1.25% below the BPLR
presently effective @ 10.25% p.a on monthly rest (s) or such other rate (s)
specified by the bank from time to time Packing credit /FBN/IBN DA/DP extent guideline for export finance FCL -250 BPS over six months libor (all inclusive) at monthly +
Forward Cover. Term of repayment: Term loan will be repaid as per exiting terms and condition Working capital on demand FCL- Rollover every six month Margin: Term loan 25% Cash credit -25% PCL-15% FBN-NIL FCL-25% LC-10% BG-10% Extent and operation of
charge Extension of charge on Company immovable properties consisting land
and building situated at W -34 Sector XI Noida Uttar Pradesh together with
all the Plant and Machinery attached to the earth. |
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Shorts particulars of the
Property charged |
Extension of charge on Company immovable properties consisting land
and building situated at W -34 Sector XI Noida Uttar Pradesh together with
all the Plant and Machinery attached to the earth. |
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Particulars of the present modification |
Total credit facilities enhanced from Rs. 78.500 millions to Rs.
83.400 millions. The details of limit per annexure A . |
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Name of the
company |
GURIND INDIA PRIVATE LIMITED |
|
Presented By |
Bank of India,
54 Janpath New Delhi , India |
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1) Date and
description of instrument creating the change |
No document (only
oral assent) Charge created on
24.04.1993 Regd on 27.0.81993 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 19.280
millions |
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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 |
Equitable
mortgage in favour of Bank by deposit of title deeds of the company immovable
property consisting of land and building,
fixed machinery and plant , fixtures and fittings (both present and
future) situated at W 34, Sec XI Noida, Uttar Pradesh, India |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
First charge by way of equitable mortgage
of the assets as mentioned in item 3 above |
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5) Name and
Address and description of the person entitled to the charge. |
Bank of India, 54 Janpath, New Delhi,
India |
|
6) Date and brief description of instrument
modifying the charge |
No document (oral
assent) dated 25.06.2004 |
|
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. |
Further modified
on 05.11.1993 and regd. On 17.01.1994 to enhance. The total limits from Rs.
19.280 millions to Rs. 19.708 millions as per details Vide Annexure I Further modified
on 03.08.1995 and regd. On 22.11.1995 to reduce the total limits from Rs.
19.708 millions to Rs. 18.763 millions as per details vide annexure II |
WEBSITE DETAILS:
Subject is market leaders for a variety of processed glass products and
have the largest facilities for beveling in India. They have the largest range
of products which are processed on state-of-the art imported equipment
including CNC Machines.
They have an All India dealer network with an office at Calcutta. The
total number of employees are over 300 which includes skilled Work Force,
Engineers and Management Personnel. Their products are being regularly exported
to U.S.A, U.K., Australia, Sri Lanka etc. and have a wide acceptability in the
International Market
The company sales, Manufacturing Division at Okhla was established in
1986 and has covered area exceeding 30000 Sq. Ft including a Showroom where the
entire range is on display. This unit is engaged in manufacturing custom made
glass products and have been credited with introducing number of products for
the first time in the Indian Market and has also featured in Television on
National Network, for 15 minutes in programme "HAMMARE KAMGAR HAMMARE
UDYOG" translated in English as "THEIR WORKERS THEIR INDUSTRY"
and subsequently also featured in 'INDIAN BUSINESS REPORT" on B.B.C.
The company at Noida started its operation in March 1990. The present
covered are exceeds 50,000 Sq. ft. This is the most Modern and Fully mechanised
unit with latest machines equipped with hoist cranes and goods elevator for
efficient material handling and producing bulk quantities of selective Glass
products with a in-house laboratory for Quality Control + R and D.
Dealers such as:-
North Region
·
Jammu
·
Amritsar
·
Jalandhar
·
Ludhiana
·
Patiala
·
Chandigarh
·
Punchkula
·
Gurgaon
·
Faridabad
·
Noida
·
Ghaziabad
·
Moradabad
·
Kanpur
·
Lucknow
·
Varanasi
·
Allahabad
·
New Delhi
·
Phagwara
·
Dehradun
·
Gwalior
·
Jaipur
·
South Region
·
Chennai
·
Hyderabad
·
Bangalore
·
Trivandrum
·
Coimbatore
West Region
·
Mumbai
·
Surat
·
Ahmedabad
·
Vadodara
·
Anand
East Region
·
Patna
·
Gauhati
·
Calcutta
·
Bhubaneshwar
·
Ranchi
Some of their
esteemed clients and prestigious projects
Corporate
·
Indira Gandhi International Airport
·
Indira Gandhi Memorial Trust
·
D.L.F. Centre, New Delhi
·
Jawahar Bhawan
·
Grindlays Bank, New Delhi
·
Apollo Hospital, New Delhi
·
Jindal Strips Limited, New Delhi
·
Charamwood, Faridabad
·
Allied Signal, Gurgaon
·
Fortis Hospital, Mohali
·
Maruti Udyog Limited
·
Hyundai
·
Telco
·
Unitech Limited
·
Motorola
Hotels
·
Grand Hayatt Delhi
·
Hotel Park, New Delhi
·
Hotel Park Royal, New Delhi
·
Hotel Ashoka, New Delhi
·
Hotel Le Meridien, New Delhi
·
Hotel Hyatt Regency, New Delhi
·
Hotel Sidhartha, New Delhi
·
Hotel Vasant Continental, New Delhi
·
Hotel Radisson , New Delhi/Jalandhar
·
Marwar Hotels Limited, Jodhpur
·
Hotel Intercontinental, New Delhi/Srinagar
·
Majestic Hotel, Ludhiana
·
Hotel Clarks Shiraz, Agra
·
Hotel Clarks Avadh, Lucknow
·
Hotel Soaltee, Kathmandu
·
Hotel Malla, Kathmandu
·
Hotel Yak + Yeti, Kathmandu
·
Hotel Annapurna, Kathmandu
·
Hotel Oriental, Kathmandu
·
Jaypeehotel, Agra
·
Hotel Grand Kakatiya,
Embassy
·
American Embassy, New Delhi
·
British High Commission, New Delhi
·
Greece Embassy, New Delhi
·
Qutar Embassy, New Delhi
·
Brazil Embassy, New Delhi
Oberoi Group Of Hotels
·
Oberoi, New Delhi
·
Royale Manor, Ahmedabad
·
Oberoi, Jaipur
·
Oberoi Maidens, Delhi
·
Oberoi , Shimla
·
The Trident, Jaipur
Taj Group of Hotels
·
Taj Mahal, New Delhi
·
Taj Palace, New Delhi
·
Taj Bengal, Calcutta
·
Taj View, Agra
·
Taj Residency, Cochin
·
Taj Lucknow
·
Taj Coromandal, Madras
·
Taj West End, Bangalore
·
Connemara, Madras
·
Annapuruna Hotel, Kathmandu
·
Taj Khajuraho
Welcome Group of Hotels
·
Itc- Maurya Sheraton, New Delhi
·
Mughal Sheraton, Agra
·
Itc - Park Sheraton Hotel and Towers, Chennai
·
Rajputana Palace, Jaipur
·
Srinivas Resorts, Hyderabad
·
Windsor Manor, Bangalore
India's largest
decorative mirror and glass product manufacturer and export offers :
Decorative
Mirrors :
Ornamental
Coloured Mirror Borders
Plain Mirror Borders
Antique Mirror Borders
Screen Printed
Grooved
Photo
Frames :
Bend
Colored
Etched
Glass to Glass
Edged
Mirrored
Platters/Bowls
:
Various shapes in Plain design and textured design.
Table
Tops :
Various shapes in Beveled, Pencil / Flat edged and O.G. edge.
Misc. Items :
Clocks
Candle Stands
Coasters
Incense Stick Stands
Flowers Vases
Napkin Holders
Ash Trays
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 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.42.84 |
|
UK Pound |
1 |
Rs.84.78 |
|
Euro |
1 |
Rs.67.32 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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/normal. |
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 |
|