MIRA
INFORM REPORT
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Report Date : |
20.11.2008 |
IDENTIFICATION DETAILS
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Name : |
MALVIYA CRAFTS PRIVATE LIMITED |
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Registered Office : |
77, Gandhi Nagar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
25.04.1997 |
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Com. Reg. No.: |
013632 |
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CIN No.: [Company
Identification No.] |
U14219RJ1997PTC013632 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JDHM04238D |
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PAN No.: [Permanent
Account No.] |
AACCM9700G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Marble Granite and Other Stones Slab and
Articles. |
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 14000 |
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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 but its profit margin is under
pressure. Payments are reported as slow. Trade relations are fair. The company can be considered for small to
mediocre business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
77, Gandhi Nagar, |
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Tel. No.: |
91-2974-222822 |
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Mobile No.: |
91-9414152350/ 9414152305 |
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Fax No.: |
91-2974-221305 |
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E-Mail : |
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Website : |
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Factory : |
G-106, Arbuda Industrial Area, Gandhi
Nagar, |
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Tel. No.: |
91-2974-222822/ 221305/ 221150 |
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Fax No.: |
91-2974-221305 |
DIRECTORS
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Name : |
Mr. Ashok Kumar Malviya |
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Designation : |
Director |
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Address : |
45, Gandhi Nagar, |
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Date of Birth/Age : |
15.08.1966 |
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Date of Appointment : |
25.04.1997 |
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Name : |
Mr. Anil Kumar Malviya |
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Designation : |
Director |
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Address : |
45, Gandhi Nagar, |
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Date of Birth/Age : |
28.01.1972 |
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Date of Appointment : |
27.09.2001 |
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Name : |
Mr. Hitesh Kumar Malviya |
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Designation : |
Director |
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Address : |
45, Gandhi Nagar, |
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Date of Birth/Age : |
20.09.1984 |
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Date of Appointment : |
29.09.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2007
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Names of Shareholders |
No. of Shares |
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Ashok Kumar Malviya |
29750 |
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Kanku Ben Malviya |
28800 |
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Uma Malviya |
23450 |
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Anil Kumar Malviya |
11000 |
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Shilpa Malviya |
7000 |
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Hitesh Malviya |
8000 |
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Geeta Malviya |
12000 |
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Total |
120000 |
As on 29.09.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Marble Granite and Other Stones Slab and
Articles. |
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Products : |
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GENERAL INFORMATION
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Suppliers : |
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Bankers : |
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Facilities : |
Secured Loans :
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Banking
Relations : |
Satisfactory |
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Financial Institution : |
Rajasthan Financial Corporation, Udyog Bhawan, Tilak Marg, Jaipur, |
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Auditors : |
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Name : |
Vipin Jain and Company Chartered Accountants |
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Address : |
Banarasi Niwas, Sadar Bazar, |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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120000 |
Equity Shares |
Rs.10/- each |
Rs.1.200 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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120000 |
Equity Shares |
Rs.10/- each |
Rs.1.200 millions |
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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 |
1.200 |
1.200 |
1.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.678 |
1.354 |
0.975 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.878 |
2.554 |
2.175 |
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LOAN FUNDS |
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1] Secured Loans |
1.424 |
2.174 |
2.147 |
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2] Unsecured Loans |
0.000 |
0.064 |
0.064 |
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TOTAL BORROWING |
1.424 |
2.238 |
2.211 |
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DEFERRED TAX LIABILITIES |
0.182 |
0.263 |
0.347 |
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TOTAL |
4.484 |
5.055 |
4.733 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.404 |
4.033 |
2.396 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
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 |
0.860
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1.089 |
1.108 |
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Sundry Debtors |
3.882
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1.304 |
0.415 |
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Cash & Bank Balances |
0.114
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1.647 |
0.412 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
5.536
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6.200 |
3.803 |
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Total
Current Assets |
10.392
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10.240 |
5.738 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.335
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0.163 |
3.408 |
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Provisions |
8.980
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9.059 |
0.000 |
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Total
Current Liabilities |
9.315
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9.222 |
3.408 |
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Net Current Assets |
1.077
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1.018 |
2.330 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.004 |
0.007 |
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TOTAL |
4.484 |
5.055 |
4.733 |
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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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26.734 |
21.228 |
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Other Income |
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FDR Interest |
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0.003 |
0.033 |
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Interest on IT Refund |
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0.023 |
0.009 |
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Rebate and Discount |
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0.009 |
0.000 |
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Total Income |
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26.769 |
21.270 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.73
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4.49 |
2.58 |
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Current Ratio (Current Asset/Current Liability) |
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1.12
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1.11 |
1.68 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
MALVIYA CRAFTS PRIVATE LIMITED |
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Presented By |
Mr. Ashok Kumar
Malviya, Director |
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1) Date and description of instrument creating the change |
Condition Deed of
Conveyance dated 11.02.1998 to secure term loan of deferred payment basis. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.200 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 |
Equitable
Mortgage by deposit of title documents of the land and building situated at
Plot No. G-1-106, Abuda Industrial Area, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest: 13.75%
p.a. payable on quarterly basis. Repayment: with
in 5 years 6 months in quarterly instrument shall be after expiry of 12
months pre-production period and last date of repayment shall be 01.08.2003. |
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5) Name and Address and description of the person entitled to the charge. |
Rajasthan
Financial Corporation, Udyog Bhawan, Tilak Marg, Jaipur Branch, |
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6) Date and brief description of instrument modifying the charge |
Dated 31.12.2001
Agreement of further rollover Loan of Rs.0.395 million. |
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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. |
An equitable
mortgage by deposit to title documents of the land building and hypothecation
of plant and machinery pretent a further situated at Plot No. G-1-106, Abuda
Industrial Area, |
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This form is for |
Modification of
charge |
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Charge
identification number of the modified |
90067158 |
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Corporate
identity number of the company |
U14219RJ1997PTC013632 |
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Name of the
company |
MALVIYA CRAFTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
77, Gandhi Nagar, |
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Type of charge |
Immovable
Property Movable Property |
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Particular of
charge holder |
Bank of E-Mail: aburoad@bankofbaroda.com |
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Nature of description
of the instrument creating or modifying the charge |
Memorandum of
Entry |
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Date of
instrument Creating the charge |
08.03.2008 |
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Amount secured by
the charge |
Rs.2.000 millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent and
Operation of the charge: The Charge will operate as first charge to the
extent of Rs.2.000 millions to secure cash credit facility. |
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Short particulars
of the property charged |
Equitable
mortgage is created on land and building, constructed or to be constructed,
present and future, plant and machinery erected or to be erected at factory
situated at G-1-106, Abuda Industrial Area, Abu Road , District (Rajasthan),
to cover the cash credit facilities of Rs.2.000 millions. |
FIXED ASSETS:
- Building
- Elect Installation
- Land
- Office Equipments
- Computers
- Plant and Machinery
- Tube Well
- Vehicles
FINANCE:
TERM LOAN:
The Director has repaid working capital term loan
of Rs.0.433 million to
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.49.74 |
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1 |
Rs.74.37 |
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Euro |
1 |
Rs.62.78 |
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 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
YES |
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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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44 |
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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