MIRA
INFORM REPORT
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Report Date : |
01.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
KUSHALBAGH MARBLES PRIVATE LIMITED |
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Registered Office : |
G-76/78/85/89, Road No.5, Rico Industrial Area, Dahod Road, Banswara –
327 001, Rajastan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.07.1985 |
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Com. Reg. No.: |
17-03349 |
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CIN No.: [Company
Identification No.] |
U14101RJ1985PTC003349 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JDHK01360C |
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PAN No.: [Permanent
Account No.] |
AAACK6310L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of best quality natural stones |
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 210000 |
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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 having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually made as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
G-76/78/85/89, Road No.5, RICO Industrial Area, Dahod Road, Banswara –
327 001, Rajasthan, India |
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Tel. No.: |
91-2962-257752 |
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Mobile No.: |
91-9414103939 |
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E-Mail : |
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Factory : |
NH 8 Amberi, Udaipur, Rajastan, India |
DIRECTORS
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Name : |
Mr. Vikas Kumar Agrawal |
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Designation : |
Director |
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Address : |
Kushalbagh Palace, Banswara – 327 001, Rajasthan, India |
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Date of Birth/Age : |
19.09.1981 |
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Date of Appointment : |
02.04.2002 |
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Name : |
Mr. Vishamber Agrawal |
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Designation : |
Director |
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Address : |
Kushalbagh Palace, Banswara – 327 001, Rajasthan, India |
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Date of Birth/Age : |
07.063.1966 |
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Date of Appointment : |
06.02.1992 |
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Name : |
Mr. Vinod Kumar Agrawal |
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Designation : |
Director |
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Address : |
Kushalbagh Palace, Banswara – 327 001, Rajasthan, India |
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Date of Birth/Age : |
21.02.1958 |
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Date of Appointment : |
24.01.2006 |
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Name : |
Mr. Anuj Agrawal |
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Designation : |
Director |
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Address : |
Kushalbagh Palace, Banswara – 327 001, Rajasthan, India |
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Date of Birth/Age : |
13.09.1982 |
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Date of Appointment : |
24.01.2006 |
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Name : |
Mr. Parmeshwar Lal Agrawal |
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Designation : |
Director |
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Address : |
Kushalbagh Palace, Banswara – 327 001, Rajasthan, India |
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Date of Birth/Age : |
02.01.1961 |
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Date of Appointment : |
24.01.2006 |
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Date of Ceasing : |
18.07.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Bodies corporate (not mentioned above) |
61.75 |
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Directors or relatives of directors |
38.25 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of best quality natural stones |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
State Bank of India |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Anjani Rakesh and Associates Chartered Accountant |
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Address : |
Custom Road, Banswara – 327 001, Rajasthan, India |
CAPITAL STRUCTURE
(As On 29.09.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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99240 |
Equity Shares |
Rs.100/- each |
Rs.9.924
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
9.924 |
9.364 |
9.364 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
32.139 |
32.187 |
30.763 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
42.063 |
41.551 |
40.127 |
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LOAN FUNDS |
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1] Secured Loans |
34.527 |
27.525 |
15.566 |
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2] Unsecured Loans |
0.151 |
0.969 |
0.000 |
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TOTAL BORROWING |
34.678 |
28.494 |
15.566 |
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DEFERRED TAX LIABILITIES |
2.327 |
2.911 |
3.811 |
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TOTAL |
79.068 |
72.956 |
59.504 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.015 |
23.990 |
20.668 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.936 |
1.936 |
0.807 |
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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 |
51.553
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45.599 |
44.889 |
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Sundry Debtors |
15.072
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9.763 |
8.664 |
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Cash & Bank Balances |
1.942
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2.849 |
3.115 |
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Other Current Assets |
0.804
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0.490 |
0.477 |
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Loans & Advances |
5.174
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4.988 |
3.205 |
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Total
Current Assets |
74.545
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63.689 |
60.350 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
18.428
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16.659 |
22.321 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
18.428
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16.659 |
22.321 |
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Net Current Assets |
56.117
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47.030 |
38.029 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
79.068 |
72.956 |
59.504 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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50.445 |
89.778 |
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Other Income |
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0.206 |
0.016 |
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Total Income |
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50.651 |
89.794 |
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Profit/(Loss) Before Tax |
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0.051 |
1.219 |
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Provision for Taxation |
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0.683 |
0.694 |
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Profit/(Loss) After Tax |
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(0.632) |
0.525 |
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Expenditures : |
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Manufacturing Expenses |
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4.526 |
0.726 |
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Administrative Expenses |
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5.294 |
0.715 |
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Raw Material Consumed |
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4.976 |
7.499 |
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Increase/(Decrease) in Finished Goods |
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(17.389) |
(0.834) |
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Insurance Expenses |
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4.308 |
0.355 |
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Depreciation & Amortization |
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4.095 |
0.409 |
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Other Expenditure |
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44.790 |
79.705 |
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Total Expenditure |
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50.600 |
88.575 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.24
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0.58 |
N.A |
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Net Profit Margin (PBT/Sales) |
(%) |
0.10
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1.35 |
N.A |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.05
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1.39 |
N.A |
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Return on Investment (ROI) (PBT/Networth) |
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0.00
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0.02 |
N.A |
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Debt Equity Ratio (Total Liability/Networth) |
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1.26
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1.08 |
0.94 |
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Current Ratio (Current Asset/Current Liability) |
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4.04
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3.82 |
2.70 |
LOCAL AGENCY
FURTHER INFORMATION
Note: The
registered office of the company has been shifted from Kushalbagh Palace, Banswara
– 327 001, Rajasthan, India to the present address with effect from 27.07.2006
Form 8
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Name of the company |
Kushalbagh
Marbles Private Limited |
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Presented By |
Shri Vishamber
Agrawal |
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1) Date and description of instrument creating the change |
07.12.1994 Agreement for DDP
Limit |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.100 Million |
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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 |
Whole of the
stock of Marbles Blocks, Leffars and Marbles Tiles at godown or premises at
Industrial Area, Dahod Road, Banswara. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
@16.50% per annum |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India, Banswara, Rajasthan |
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6) Date and brief description of instrument modifying the charge |
25.07.1996 Scheme for
Advances to small scale Industries. |
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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. |
The DDP Limit to
Rs.0.400 Million Interest @2.25%
above SBI Advance rate minimum 18.75% P.A. will be charged on the accounts
with quarterly rates. |
Progress of the
Company
During the year 2006-07 turnover of the company has been decreased from
Rs.89.800 Millions to Rs.50.400 Millions mainly it is on account of ceramic
based products supported with the publicity in National Television Media are
getting popularity in construction industry consequently profit decreased from
Rs.1.219 Millions to Rs.0.051 Million respectively.
Finance and
Expansion
The company has renewed the cash credit facility as per the standard
norms of the bank amounting to Rs.30.000 Millions (previous year Rs.30.000
Millions) during the year.
Your company has incurred additional capital expenditure of Rs.1.365
Millions during the year and disposed of fixed assets amounting to rs.0.245
Million. Therefore gross amount of fixed assets has been reached to Rs.56.296
Millions (Previous year Rs.1.936 Million)
Share Capital
There is increased of Rs.0.560 Million in the paid up share capital of
the company during the year.
As Per Websites
Lifeless harbingers of the unspoken grandeur of royalty, natural stones have enlivened various architectural monuments, since time immemorial. Choice of great emperors in the days of yore, stones such as marble, granite, slate, sandstone are now available to the masses, enabling them to convert their houses into little palaces, courtesy Subject name to reckon with in the manufacture and export of best quality natural stones.
Kushalbagh Marbles world class state-of-art technology and equipment coupled with skilled manpower and excellent resources is the core competency of the company. Kushalbagh Marbles is totally focused on providing quality products manufactured in the modernised plant in access of the company.
They supply building natural stone for commercial and residential projects,
ranging from hotels, office buildings, shopping malls, pools and gardens to
fine residences.
A varied range of products provide the architects and designers a variety of high quality building stones to work with. With their superior material selection and value engineering experience, they can furnish quality stone at competitive prices.
Quality and customer service are their foremost concerns. They employ the most efficient and modern machinery to process the stones. They follow rigid quality control procedures, from the quarrying stage to the packing stage. Moreover, they offer their services of quality control and inspection to their buyers, for goods exported by other factories in India. They are dedicated to total customer satisfaction.
They look forward to the opportunity to furnish the specific requirements.
Fixed Assets
- Land
- Building
(Office)
- Building
(Factory)
- Plant and
Machinery
- Miscellaneous
Fixed Assets
- Furniture and
Fixtures
- Vehicles
- Computers
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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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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48 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
|
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 |
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