MIRA
INFORM REPORT
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Report Date : |
29.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALIF GRANITE
PRIVATE LIMITED |
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Registered Office : |
3-6-157, Victory Vihar Apartments, Flat No. 103, Urdu Nagar
Lane, Himayatnagar, Hyderabad-500029, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
06.08.1991 |
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Com. Reg. No.: |
01-13032 |
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CIN No.: [Company
Identification No.] |
U15102AP1991PTC013032 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA01375D |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of Granite
Tiles and Monuments. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 90000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company engaged in the business of quarrying and exporting of rough granite blocks and monuments. It is a 100% export oriented unit. Though the company is not making any appreciable growth in terms of turnover and profits, business performances has been satisfactory. The company’s trade relations are reported as fair. Payments are slow, but correct. It can be considered normal for business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Bashil |
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Designation : |
Accountant |
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Date : |
29.05.2008 |
LOCATIONS
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Registered Office : |
3-6-157, Victory Vihar Apartments, Flat No. 103, Urdu Nagar
Lane, Himayatnagar, Hyderabad-500029, Andhra Pradesh, India |
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Tel. No.: |
91-40-55610950 |
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Email : |
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Website : |
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Administrative
Office : |
No. 18, Standage Road, Frazer Town, Bangalore, Karnataka 560005, India |
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Tel. No.: |
91-80- 25486800 / 25486808 |
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Fax No.: |
91-80- 25486445 |
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E-Mail : |
alif@bgl.vsnl.net.in |
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Factory : |
Industrial Eastate, Palmaner, Chittoor District, Andhra Pradesh, India |
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Tel. No.: |
91-8579-2251355 / 2254273 |
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Fax No.: |
91-8579-2251655 |
DIRECTORS
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Name : |
Mr. Mohamed Ishack |
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Designation : |
Managing Director |
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Address : |
21, Madhuliar Road, Frazer Town, Bangalore, Karnataka, India |
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Date of Birth/Age : |
15.06.1961 |
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Name : |
Mrs. Rahmatunnissa |
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Designation : |
Director |
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Address : |
21, Madhuliar Road, Frazer Town, Bangalore, Karnataka,
India |
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Name : |
Mr. Prasad Rao Velaga |
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Designation : |
Nominee Director
[APSFC] |
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Address : |
C/o. APSFC,
Tirupathi, Chittoor District, Andhra Pradesh, India |
KEY EXECUTIVES
|
Name : |
Mr. Bashil |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2003
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Names of
Shareholders |
No. of Shares |
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Mr. Padmaja Reddy |
1607 |
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Md Abdul Wahab |
16768 |
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Md. Ishack |
8260 |
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Mrs. Noor Zehra |
20764 |
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Mr. Rahamatunnissa |
1475 |
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World Trade Corporation |
14398 |
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Md. Aslam Dastagiri |
10 |
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Total |
63282 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of Granite
Tiles and Monuments. |
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Products : |
Ø Blocks Ø Slabs Ø Cut-To-Size Ø Tiles Ø Marble Ø Granite Ø Sandstone Ø Limestone Ø Slate Ø Tombstone/Gravestone Ø Monuments |
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Exports to : |
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Products : |
Monuments and granite tiles and products |
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Countries : |
Japan, United Kingdom, Australia, United States, France, Germany and China |
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Imports from : |
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Products : |
Granite
Accessories and Diamond Wire Rope |
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Countries : |
United Kingdom,
Sri Lanka, Italy and other countries |
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Terms : |
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Selling : |
On L/C basis |
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Purchasing : |
On L/C basis |
GENERAL
INFORMATION
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No. of Employees : |
About 15 |
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Bankers : |
Punjab and Sind Bank, Chickpet Branch, Bangalore – 560053, Karnataka, India |
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Facilities : |
Demand Cash Credit
: Rs. 13 millions [dated 30.08.2004] |
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Banking
Relations : |
Satisfactory |
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Auditors 1 : |
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Name : |
Jampani &
Kotelia Chartered
Accountant |
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Address : |
3-6-157, Victory
Vihar Apartments, Urdu Lane, Himayat Nagar, Hyderabad-500029, Andhra Pradesh,
India |
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Tel. No.: |
91-40-23224964 / 23225162 |
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Auditors 1 : |
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Name : |
N. M. Taher Chartered Accountants |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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75000 |
Equity Shares |
Rs. 100/- each |
Rs. 7.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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63282 |
Equity Shares |
Rs. 100/- each |
Rs. 6.328 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
No subsequent
financials could be available from any sources.
Management remained
non-cooperative during current investigation.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2003 |
31.03.2002 |
31.03.2001 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
6.328 |
6.328 |
6.328 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
16.980 |
19.628 |
18.085 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
23.308 |
25.956 |
24.413 |
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LOAN FUNDS |
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1] Secured Loans |
7.855 |
8.478 |
7.793 |
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2] Unsecured Loans |
0.880 |
0.360 |
0.335 |
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TOTAL BORROWING |
8.735 |
8.838 |
8.128 |
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DEFERRED TAX LIABILITIES |
3.078 |
0.000 |
0.000 |
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TOTAL |
35.121 |
34.794 |
32.541 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.029 |
18.035 |
17.842 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
6.741 |
4.530 |
0.000 |
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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 |
7.189 |
6.984 |
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Sundry Debtors |
2.463 |
2.389 |
20.089 |
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Cash & Bank Balances |
0.190 |
0.214 |
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Other Current Assets |
2.231 |
2.219 |
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Loans & Advances |
8.938 |
12.589 |
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Total Current Assets |
21.011
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24.395 |
20.089 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
13.786 |
12.308 |
5.605 |
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Total Current Liabilities |
13.786
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12.308 |
5.605 |
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Net Current Assets |
7.225
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12.087 |
14.484 |
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MISCELLANEOUS EXPENSES |
4.126 |
0.142 |
0.215 |
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TOTAL |
35.121 |
34.794 |
32.541 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2003 |
31.03.2002 |
31.03.2001 |
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Sales Turnover [including other income] |
23.441 |
26.777 |
23.097 |
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Profit/(Loss)
Before Tax |
0.459 |
1.594 |
2.318 |
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Provision for
Taxation |
0.029 |
0.051 |
0.000 |
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Profit/(Loss)
After Tax |
0.430 |
1.543 |
2.318 |
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Export Value |
16.744 |
N.A. |
N.A. |
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Import Value |
1.411 |
N.A. |
N.A. |
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Total Expenditure |
22.605 |
N.A. |
N.A. |
KEY RATIOS
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
31.03.2001 |
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PAT / Total Income |
(%) |
1.83
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5.76 |
10.03 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.95
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5.95 |
10.03 |
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Return on Total
Assets (PBT/Total Assets} |
(%) |
1.20
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3.75 |
6.11 |
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Return on Investment
(ROI) (PBT/Networth) |
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0.01
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0.06 |
0.09 |
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Debt Equity Ratio (Total
Liability/Networth) |
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0.96
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0.81 |
0.56 |
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Current Ratio (Current
Asset/Current Liability) |
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1.52
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1.98 |
3.58 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
- Hindustan
Granites, Bangalore
- Vivek
Exports, Bangalore
Subject is a 100%
EOU, equipped with Hitech, state of art technology for carving monuments with 100%
precision, very much to the delight, satisfaction and requirement of Japanese
market. A team of dedicated skilled
craftsmen with total commitment ensure quality of international standards,
specialised in making Japanese monuments.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.85 |
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UK Pound |
1 |
Rs.84.74 |
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Euro |
1 |
Rs.67.36 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
YES |
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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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42 |
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 |
|
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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