MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADVANCE LAMP COMPONENTS AND TABLE WARES PRIVATE LIMITED |
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Registered Office : |
E-24 II Floor, Jawahar Parlaxmi Nagar, Vikas Marg, Delhi-110092 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
11.12.1991 |
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Com. Reg. No.: |
55-46731 |
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CIN No.: [Company
Identification No.] |
U74899DL1991PTC046731 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Glass Bulb Shells and High Class Tumblers and Dinner
Sets |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 250000 |
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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. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajeev Singh |
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Designation : |
Export Manager |
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Contact No.: |
91-979048045 |
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Date : |
03.08.2008 |
LOCATIONS
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Registered Office : |
E-24 II Floor, Jawahar Parlaxmi Nagar, Vikas Marg, Delhi-110092, India |
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E-Mail : |
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Website : |
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Area : |
300 sq.ft ( Rented) |
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Corporate Office : |
Coal Siding Station Road, Firozabad, Uttar Pradesh, India |
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Tel. No.: |
91-5612-240570/ 241576/ 261131 |
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Fax No.: |
91-5612-244764 |
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Factory 1 : |
Village Mohammadpur, Navada, Makkhanpur, Firozabad – 283203,
Uttar Pradesh, India |
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Tel. No.: |
91-5612-244764 |
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Fax No.: |
91-5612-261131 |
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Area : |
Owned |
DIRECTORS
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Name : |
Mr. Bal Krishan Gupta |
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Designation : |
Director |
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Address : |
105, Jaurmay Ganj Firozabad, Uttar Pradesh, India |
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Date of Birth/Age : |
31.12.1922 |
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Qualification : |
Matric |
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Experience : |
60 Years |
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Date of Appointment : |
15.07.1992 |
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Name : |
Mr. Pradeep Kumar Gupta |
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Designation : |
Director |
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Address : |
105, Hauwar Gauj, Firozabad, Uttar Pradesh, India |
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Date of Birth/Age : |
09.06.1953 |
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Qualification : |
Graduate |
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Experience : |
30 Years |
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Date of Appointment : |
15.07.1992 |
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Name : |
Mr. Suresh Chandra Bansal |
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Designation : |
Director |
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Address : |
663, Jalsas Road, Firozabad, Uttar Pradesh, India |
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Date of Birth/Age : |
04.12.1947 |
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Qualification : |
Graduate |
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Experience : |
45 Years |
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Date of Appointment : |
11.12.1991 |
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Name : |
Mr. Ashish Bansal |
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Designation : |
Director |
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Address : |
662, Jalsass Road, Firozabad, Uttar Pradesh, India |
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Date of Birth/Age : |
20.06.1971 |
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Qualification : |
Graduate |
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Experience : |
18 Years |
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Date of Appointment : |
15.07.1992 |
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Name : |
Late Mr. Ravindra Kumar |
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Designation : |
Director |
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Date of Birth/Age : |
06.12.1945 |
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Date of Appointment : |
11.12.1991 |
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Date of Ceasing: |
09.09.2001 |
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Name : |
Late Mr. Sridharlal Bansal |
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Designation : |
Director |
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Date of Birth/Age : |
30.07.1922 |
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Date of Appointment : |
15.07.1992 |
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Date of Ceasing: |
07.12.2002 |
KEY EXECUTIVES
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Name : |
Mr. Ajay Kalra |
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Designation : |
Secretary |
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Address : |
2/21\A, Moti Nagar, New Delhi-110015, India |
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Date of Birth/Age : |
19.08.1979 |
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Date of Appointment : |
10.08.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
|
No. of Shares |
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Akshay Portfolios Limited |
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5000 |
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Akshay Travels Limited |
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5000 |
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Anurag Gupta |
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2700 |
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Arun Finvest Private Limited |
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5000 |
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Ashish Bansal |
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1750 |
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Chanakya Holdings Limited |
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3000 |
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Cosmos Holdings Limited |
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73000 |
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Dhanesh Capital Invetment Limited |
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5780 |
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Dhanesh Capital Services Limited |
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5000 |
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Divya Secfin Private Limited |
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10000 |
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Ethenic Creations Private Limited |
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11500 |
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Gastle India Limited |
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2495 |
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Honey Portfoio Private Limited |
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6000 |
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Intermarket Electroplaters Private Limited |
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47250 |
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Lokesh Secfin Private Limited |
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10000 |
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Mastro Marketing Private Limited |
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5000 |
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Neena Properties Limited |
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27690 |
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PCB Consultants Private Limited |
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5000 |
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Pradeep Kumar Gupta, HUF |
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1500 |
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Pradeep Kumar Gupta |
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6850 |
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Probosh Chandra Gupta |
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20000 |
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Ramsons Proteins Limited |
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6500 |
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Ramsons Drugs Limited |
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5000 |
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Satwant Singh Sodhi Construction Private Limited |
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9800 |
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Sneh Gupta |
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23000 |
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Steering Securites and Finance Private Limited |
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4000 |
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Suresh Chandra Bansal |
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20034 |
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Urmila Bansal |
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8700 |
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Varindra Hosiery India Limited |
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5000 |
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Viniyas Capital Investment Private Limited |
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6500 |
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Webnet Systems India Limited |
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5000 |
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Others |
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43001 |
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Total |
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396050 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2005
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Category |
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Percentage |
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Bodies Corporate (not mentioned above) |
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69.69 |
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Directors or relatives of directors |
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30.31 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Glass Bulb Shells and High Class Tumblers and Dinner
Sets |
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Products : |
·
Glass Set : Step Glass Set, Plain Glass Set, Half Cut Glass Set ·
Glass Tumblers ·
Glass Bowl Sets ·
Glass Plates ·
Glass Pudding Sets ·
Glass Tumblers and Bowls
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Exports : |
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Products : |
Glass Bulb Shells and High Class Tumblers |
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Countries : |
·
Bangladesh ·
Kenya |
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Terms : |
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Selling : |
Credit ( 60 Days) |
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Purchasing : |
Credit ( 60 Days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers and End Users |
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No. of Employees : |
155 (Office 10, Factory 145) |
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Bankers : |
Bank of Baroda, Firozabad |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
R P Goel and Company Chartered Accountant |
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Address : |
Second Floor, Jain Market, Sadar Bazar, Firozabad-283203, India |
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Name : |
Mr. Rajiv Chaturvedi Charterd Accountant |
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Memberships : |
Chemicals and Allied Products Export Promotion Council (CAPXIL) |
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Associates/Subsidiaries : |
Adarsh Kanch Udyog Private Limited |
CAPITAL STRUCTURE
As on 30.09.2005
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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600000 |
Equity Shares |
Rs. 100/- each |
60.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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396050 |
Equity Shares |
Rs. 100/-
each |
Rs. 39.605
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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39.605 |
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2] Share Application Money |
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5.085 |
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3] Reserves & Surplus |
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5.341 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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50.031 |
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LOAN FUNDS |
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1] Secured Loans |
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35.004 |
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2] Unsecured Loans |
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6.818 |
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TOTAL BORROWING |
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41.822 |
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DEFERRED TAX LIABILITIES |
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1.788 |
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TOTAL |
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93.641 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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59.699 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.828 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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37.640 |
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Sundry Debtors |
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22.180 |
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Cash & Bank Balances |
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2.020 |
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Other Current Assets |
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0.479 |
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Loans & Advances |
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14.006 |
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Total
Current Assets |
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76.325 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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46.183 |
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Provisions |
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0.869 |
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Total
Current Liabilities |
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47.052 |
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Net Current Assets |
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29.273 |
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MISCELLANEOUS EXPENSES |
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3.841 |
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TOTAL |
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93.641 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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792.287 |
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Other Income |
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0.077 |
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Total Income |
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792.364 |
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Profit/(Loss) Before Tax |
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3.317 |
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Provision for Taxation |
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0.446 |
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Profit/(Loss) After Tax |
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2.871 |
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Expenditures : |
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Cost of Goods Sold |
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162.806 |
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Administrative Expenses |
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11.181 |
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Interest |
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6.733 |
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Depreciation & Amortization |
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9.164 |
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Other Expenditure |
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599.163 |
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Total Expenditure |
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789.047 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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0.36 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.42 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.13 |
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Return on Investment (ROI) (PBT/Networth) |
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0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.78 |
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Current Ratio (Current Asset/Current Liability) |
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1.62 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile:
Adarsh Kanch Group of Companies is in business for the last 4 decades
and attained steady, sustainable and envious growth with tireless modernization
and development in a spectrum of Glass Wares ranging from Containers, Cosmetic
and Perfume Bottles, Lamp Shells and Tubes, Table Wares, Kitchen wares and
other Technical Glass.
The table ware division, (Advance Lamp Component and Table wares Private
Limited) under the trade name Plus+© is the latest member of the
family, and this unit is incorporated with modern technologically advanced
plant and machinery.
The activity of the company involve in-house planning, designing,
engineering, erection and commission of plants, by adapting world class
Technology and Technical know how. the company's product presence is widely
felt in cosmopolitan cities and remote villages in India as well as overseas
countries. The company has highly result oriented professional management,
supported by competent, dedicated, qualified and experienced fleet of employee;
and their contribution are greatly valued. Company's 5 separate manufacturing
centers are produced more then 300 distinguished items. the utilization of the
present installed capacity of manufacturing facilities are at peak, and the
company is in the process of expanding its facilities for new range of
products.
The company's goal is to achieve business excellency and Customer
satisfaction through continual improvement in process and skill by adopting
cost conscious, and environmental friendly International Quality Management
procedure and process.
The company's brand name "Plus+©" speaks for
international Quality products with zero defects and it gives a sense of
achievement and pride.
The company has accredited with International Quality Certification ISO
9001 : 2000 and also in the process of getting ISO 14001 Certification. With
the vast support of the valued customers, dealers, suppliers and unmatched
devoted skill of the employees, the Adarsh Kanch Group and "Plus+©"
us forwarding its march through enviable path and continue to delight millions
of customers globally.
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 |
|
US Dollar |
1 |
Rs.47.46 |
|
UK Pound |
1 |
Rs.83.37 |
|
Euro |
1 |
Rs.64.46 |
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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
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 |
|
|
>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. |
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 |
|