MIRA INFORM REPORT
|
Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
H K GARMENT AND EMBROIDERY WORKS |
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|
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Registered Office : |
Gala No.105, Parvati Industrial Estate, Sun Mill Compound, Lower Parel,
Mumbai – 400013, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment: |
1998 |
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|
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PAN No.: [Permanent
Account No.] |
ABFPD3969H |
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|
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Legal Form : |
Sole Proprietory Concern |
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|
|
Line of Business : |
Manufacturer of making computerised embroidery |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 concern. Proprietor is
reported as experienced, respectable and having satisfactory means of his
own. Trade relations are fair. Business is active. Payments are reported as
usually correct and as per commitments. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Vilas Darade |
|
Designation : |
Proprietor |
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Contact No.: |
91-9821533812 |
|
Date : |
20.09.2008 |
LOCATIONS
|
Registered Office/ Factory : |
Gala No.105, Parvati Industrial Estate, Sun Mill Compound, Lower
Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24945610/ 24126453 |
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Mobile No.: |
91-9821533812 |
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E-Mail : |
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|
Area : |
729 sq. ft. Carpet |
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Location : |
Owned |
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Residence Office : |
B-201, Nirlep House, G D Ambekar Road, Parel, Mumbai – 400012,
Maharashtra, India |
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Area : |
400 sq. ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Vilas Darade |
|
Designation : |
Proprietor |
|
Address : |
Gala No.105, Parvati Industrial Estate, Sun Mill Compound, Lower
Parel, Mumbai – 400013, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1969 |
|
Qualification : |
BA |
|
Experience : |
17 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of making computerised embroidery |
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|
|
|
Products : |
Computerized Embroideries |
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|
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|
Terms : |
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Selling : |
Credit (90 days) |
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|
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Purchasing : |
Credit (30 days) |
PRODUCTION STATUS
|
Particulars |
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|
Installed
Capacity |
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|
|
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|
Computerized Embroideries |
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|
21 Heads |
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Tajima Machines |
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|
21 Heads |
GENERAL INFORMATION
|
Suppliers : |
Mr. Rahul
Mr. Kuverji, Tel No.:91-22-24941115
Mr. Viral, 91-22-32000588
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|
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Customers : |
Exports/ Garment Manufacturers
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No. of Employees : |
15 |
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Bankers : |
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|
|
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Facilities : |
C/C and T/L of Rs.0.600 Million from Corporation Bank |
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|
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Banking
Relations : |
Satisfactory |
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|
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Auditors : |
|
|
Name : |
D. D. Jain and Associates Chartered Accountant |
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Address : |
11, Ground Florr, Rukhmini Niwas, Near RM Bhatt School, Gokhale
Society Lane, Parel, Mumbai – 400012, Maharashtra, India |
|
Tel No.: |
91-22-24173839 |
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Fax No.: |
91-22-24173990 |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.1.452 Millions |
|
Borrowed : |
- |
|
Total : |
Rs.1.452 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietors Capital |
1.452 |
0.947 |
1.223 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.452 |
0.947 |
1.223 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.586 |
3.758 |
1.709 |
|
|
2] Unsecured Loans |
0.673 |
1.097 |
0.479 |
|
|
TOTAL BORROWING |
4.259 |
4.855 |
2.188 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.711 |
5.802 |
3.411 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.336 |
5.151 |
2.769 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.932 |
0.000 |
0.521 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.165 |
1.190 |
0.193 |
|
|
Sundry Debtors |
1.136 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.643 |
0.016 |
0.010 |
|
|
Other Current Assets |
0.070 |
0.066 |
0.844 |
|
|
Loans & Advances |
0.009 |
0.059 |
0.009 |
|
Total
Current Assets |
2.023 |
1.331 |
1.056 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
1.551 |
0.680 |
0.935 |
|
|
Provisions |
0.029 |
0.000 |
0.000 |
|
Total
Current Liabilities |
1.580 |
0.680 |
0.935 |
|
|
Net Current Assets |
0.443 |
0.651 |
0.121 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.711 |
5.802 |
3.411 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
3.978 |
3.631 |
3.064 |
|
|
Other Income |
0.000 |
0.000 |
0.003 |
|
|
Total Income |
3.978 |
3.631 |
3.067 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.154 |
0.185 |
0.180 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
0.154 |
0.185 |
0.180 |
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|
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
0.359 |
0.323 |
0.222 |
|
|
Manufacturing Expenses |
1.791 |
1.862 |
0.000 |
|
|
Administrative Expenses |
0.493 |
0.333 |
0.000 |
|
|
Interest |
0.463 |
0.314 |
0.273 |
|
|
Depreciation & Amortization |
0.718 |
0.614 |
0.415 |
|
|
Other Expenses |
0.000 |
0.000 |
1.977 |
|
Total Expenditure |
3.824 |
3.446 |
2.887 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
3.87 |
4.82 |
5.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.87 |
4.82 |
5.87 |
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|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.42 |
2.85 |
4.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.14 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.02 |
4.29 |
2.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.96 |
1.13 |
LOCAL AGENCY FURTHER
INFORMATION
PROJECTIONS OF PERFORMANCE, PROFITABILITY AND REPAYMENT
[Rs in Millions]
|
Particulars |
Projected |
||
|
|
2008-09 |
2009-10 |
2010-11 |
|
A. Production during the year (Qty) |
NA |
NA |
NA |
|
% utilization of installed cap. |
NA |
NA |
NA |
|
|
|
|
|
|
B. Revenue |
5.048 |
5.300 |
5.565 |
|
|
|
|
|
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C. Cost of Production |
|
|
|
|
1. Raw Materials/ Purchases |
0.753 |
0.791 |
0.830 |
|
2. Power and Fuel |
0.268 |
0.282 |
0.296 |
|
3. Wages and Salaries |
1.782 |
1.871 |
1.964 |
|
4. Factory Rent/ Maintenances |
0.046 |
0.048 |
0.051 |
|
5.Job Work Charge |
0.000 |
0.000 |
0.000 |
|
6. Other Manufacturer Expenses including Repairs and
Maintenances |
0.130 |
0.136 |
0.143 |
|
7. Depreciation |
0.619 |
0.529 |
0.453 |
|
Total
Cost of Production |
3.598 |
3.657 |
3.737 |
|
8.Add: Opening Stock in Process and Finished Goods |
0.000 |
0.000 |
0.000 |
|
9.Less: Closing Stock in Process and Finished Goods |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
D. Cost of Sales |
3.598 |
3.656 |
3.737 |
|
|
|
|
|
|
E.
Gross Profit (B-D) |
1.450 |
1.644 |
1.829 |
|
Total |
2.872 |
3.102 |
3.286 |
|
|
|
|
|
|
F. Interests On |
|
|
|
|
Term Loans |
0.213 |
0.129 |
0.074 |
|
Working Capital |
0.063 |
0.063 |
0.063 |
|
Other Loans, if any |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
G. Selling,
General and Administrative Expenses |
0.356 |
0.374 |
0.392 |
|
|
|
|
|
|
H. Profit
Before Taxation (E-F+G) |
0.818 |
1.078 |
0.130 |
|
|
|
|
|
|
I. Provision for Taxes |
0.168 |
0.225 |
0.269 |
|
|
|
|
|
|
J.
Net Profit (H-I) |
0.650 |
0.853 |
1.031 |
|
|
|
|
|
|
K. Depreciation added back |
0.619 |
0.529 |
0.453 |
|
L/ Net Cash Accruals |
1.269 |
1.382 |
1.484 |
|
M. Repayment Obligations |
NA |
NA |
NA |
|
N. Debt Service Ratio |
NA |
NA |
NA |
CASH FLOW
STATEMENT
[Rs in Millions]
|
Particulars |
Projected |
|||
|
Assets
|
2008-09 |
2009-10 |
2010-11 |
|
|
|
|
|
|
|
|
A.
Sources of Funds |
|
|
|
|
|
1.Cash
Accruals(NP before Taxes (Item H of Annexure – III+ interests (Item F of
Annex III) |
1.094 |
1.270 |
1.436 |
|
|
2.Increase in Capital |
0.000 |
0.000 |
0.000 |
|
|
3.
Depreciation |
0.619 |
0.529 |
0.453 |
|
|
4.Increase
in long term loans |
(0.824) |
(0.852) |
(0.723) |
|
|
5. Increase in deferred payment facilities |
0.000 |
0.000 |
0.000 |
|
|
6. Increase in Current Liabilities |
(0.006) |
0.073 |
0.059 |
|
|
7. Increase in Unsecured Loans/ Deposit |
0.000 |
0.000 |
0.000 |
|
|
8. Increase in bank borrowing for working capital |
0.000 |
0.000 |
0.000 |
|
|
9.Sales of fixed assets/
Investment |
0.000 |
0.000 |
0.000 |
|
|
10.others/ Profit |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Total Sources(A) |
0.883 |
1.020 |
1.225 |
|
|
|
|
|
|
|
|
B. Disposition of Finds |
|
|
|
|
|
Preliminary and Pre-Operative
Expenses |
0.000 |
0.000 |
0.000 |
|
|
Increase in Capital
Expenditures |
0.000 |
0.000 |
0.000 |
|
|
Increase in Current Assets |
|
|
|
|
|
Inventories |
0.009 |
0.009 |
0.010 |
|
|
Others |
0.114 |
0.110 |
0.099 |
|
|
Decrease in Loan term Loans/
Debentures |
0.000 |
0.000 |
0.000 |
|
|
Decrease in deferred payment facilities |
0.000 |
0.000 |
0.000 |
|
|
Increase in Investment/ Advances
and Loan |
0.000 |
0.000 |
0.000 |
|
|
Interests |
0.276 |
0.192 |
0.137 |
|
|
Taxation |
0.168 |
0.225 |
0.269 |
|
|
Withdrawals / TDS W/off |
0.100 |
0.115 |
0.132 |
|
|
Other Expenses |
0.000 |
0.000 |
0.000 |
|
|
Total Disposition (B) |
0.667 |
0.652 |
0.646 |
|
|
|
|
|
|
|
|
C. Opening Balance |
0.011 |
0.227 |
0.595 |
|
|
D. Net Surplus (A-B) |
0.216 |
0.368 |
0.579 |
|
|
E. Closing Balance |
0.227 |
0.595 |
1.174 |
|
BALANCE SHEET (RS.
IN MILLIONS)
|
CURRENT
LIABILITIES |
Projected |
||
|
|
2008-09 |
2009-10 |
2010-11 |
|
A.
Liabilities |
|
|
|
|
Proprietors Capital |
2.394 |
3.132 |
4.031 |
|
Quasi Capital – Unsecured Loan |
0.822 |
0.822 |
0.822 |
|
Terms Loans From Bank |
1.671 |
0.842 |
0.144 |
|
Bank Borrowing for working
Capital |
0.600 |
0.600 |
0.600 |
|
Housing Loan From Dena Bank (50% Shares with Wife) |
0.275 |
0.252 |
0.227 |
|
Current
Liabilities: |
|
|
|
|
Sundry Creditors |
0.126 |
0.132 |
0.138 |
|
Provision for Tax |
0.168 |
0.225 |
0.269 |
|
Outstanding Expenses |
0.178 |
0.187 |
0.196 |
|
Advances Against Sale of machine |
0.000 |
0.000 |
0.000 |
|
|
0.471 |
0.544 |
0.604 |
|
|
|
|
|
|
Total
Liabilities |
6.233 |
6.193 |
6.428 |
|
|
|
|
|
|
B.
Assets |
|
|
|
|
Gross Block |
6.181 |
6.181 |
6.181 |
|
Depreciation (Accumulated) |
2.380 |
2.908 |
3.361 |
|
Net
Block |
3.801 |
3.273 |
2.820 |
|
Investment |
|
|
|
|
Advance for Flat at Nashik |
0.200 |
0.200 |
0.200 |
|
Jewellery |
0.021 |
0.021 |
0.021 |
|
Residential Flat at Parel |
0.511 |
0.511 |
0.511 |
|
|
0.732 |
0.732 |
0.732 |
|
|
|
|
|
|
Current
Assets and Loans and Advances: |
|
|
|
|
Inventory |
0.188 |
0.198 |
0.208 |
|
Receivable |
1.052 |
1.104 |
1.159 |
|
Advances Tax and TDS |
0.233 |
0.290 |
0.334 |
|
Loans and Advances Including Deposits |
0.000 |
0.000 |
0.000 |
|
Advances Paid for New Machine |
0.000 |
0.000 |
0.000 |
|
|
1.473 |
1.592 |
1.701 |
|
Cash and Bank Balance |
0.227 |
0.595 |
1.175 |
|
|
|
|
|
|
Total
Assets |
6.234 |
6.193 |
6.428 |
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS:
[Rs in Millions]
|
CURRENT
LIABILITIES |
Projected |
||
|
|
2008-09 |
2009-10 |
2009-10 |
|
1.Raw Materials Including stores |
|
|
|
|
Imported – Value |
0.000 |
0.000 |
0.000 |
|
Month’s Consumptions |
0.000 |
0.000 |
0.000 |
|
Indigenous – Value |
0.188 |
0.198 |
0.208 |
|
Month’s Consumptions |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
2. Other consumable Spares |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
3.Stock – In - Process |
0.000 |
0.000 |
0.000 |
|
(Month’s Cost of Production) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
4.Finished Goods |
0.000 |
0.000 |
0.000 |
|
Months Cost of sales |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
5.Receivables other than export and deferred receivables
(Including bills purchased by Bankers) |
1.052 |
1.104 |
1.159 |
|
Months Domestic Sales (Excluding Deferred Payment Sales) |
0.250 |
0.250 |
0.250 |
|
6.Export Receivables(Including bills purchased and
discounted |
0.000 |
0.000 |
0.000 |
|
Months Export Sales |
0.000 |
0.000 |
0.000 |
|
7. Advances to suppliers of raw materials and stores and
spares consumable |
0.000 |
0.000 |
0.000 |
|
8. Other Current assets including Cash and Bank Balance,
deferred receivable due within one years |
0.460 |
0.886 |
1.508 |
|
Total
Current Assets |
1.700 |
2.188 |
2.876 |
|
|
|
|
|
|
Current
Liabilities |
|
|
|
|
Creditors for Purchased |
0.126 |
0.132 |
0.138 |
|
Months Purchases |
0.200 |
0.200 |
0.200 |
|
Advance From Customers |
0.000 |
0.000 |
0.000 |
|
Outstanding Expenses |
0.178 |
0.187 |
0.196 |
|
Statutory Liability |
0.168 |
0.225 |
0.269 |
|
Other Current Liabilities |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities |
0.471 |
0.544 |
0.604 |
|
|
|
|
|
|
Working
Capital |
1.229 |
1.643 |
2.272 |
|
|
|
|
|
|
Margin
for Working Capital @ 30% |
0.369 |
0.493 |
0.682 |
|
|
|
|
|
|
Bank
Borrowing |
0.860 |
1.150 |
1.590 |
OTHER PARTICULARS:
[Rs in Millions]
|
Months (During the Current years) |
Purchases |
Sales |
|
|
|
|
|
April 08 to August 08 |
0.212 |
1.803 |
SWOT ANALYSIS OF THE UNIT:
|
1. Strengths |
Located in best Industrial Area, in Lower
Parel when lot of exporter and garments manufacturer one located which gives
easy excess to readymade customers Japanese machines – Tajima Embroidery
machines – world’s best |
|
|
|
|
2. Opportunities |
Growing use of embroidery in local market
and retail bourn in apparels |
|
|
|
|
3. Threats |
Decline in Garments Exports |
PERSONAL ASSETS OF THE PROPRIETOR: (RS. IN MILLIONS)
|
Name |
Description of the assets owned by them |
Market Value |
Whether Offered as Security |
|
|
|
|
|
|
Mr. Vilas Darade |
1. Factory at
Lower Parel |
15.000 |
YES |
|
|
2. Res. And
Factory at Nirlep House, Parel |
4.000 |
YES |
|
|
3. Res. And
Factory at Nashik |
5.000 |
HL O/S of 0.300 |
REVIEW OF BANK STATEMENT FOR THE LAST SIX MONTHS:
- Municipal and Corporation Taxes: Rs.0.003 Millions
- Last Utility Payment Made (Electricity): Rs.0.031 Millions
FOR MANUFACTURING ENTITIES/ FACTORY SITES:
|
Principal raw materials and sources |
Thread, Intentioned |
|
Major Branded and Imported Machines,
Installed |
Tajima, Japanese Machines |
|
Power |
3 Phase Power |
STATEMENT OF ASSETS AND
LIABILITY
(MR. VILAS N.
DARADE)
IMMOVABLE
PROPERTIES
|
Name
of the Owner |
Description of Property |
Location/ Address of the Property |
Extent of building area constructed |
Type of Property |
|
|
|
|
|
|
|
Mr. Vilas Darode |
Factory Gala |
105, Parvati Industrial Estate, Sun Mill Compound, Lower Parel, Mumbai |
Carpet Area =
729 sq. ft. |
Commercial |
|
Details of Documents Conferring Right |
Date of Purchases of Property |
Original Purchases Cost (Millions) |
Present market Value on 31.07.08 |
Details of encumbrances on the property |
|
|
|
|
|
|
|
Agreement for
Sale |
2002 |
2.000 |
15.000 |
Mortgage with Corporation Bank |
OTHER ASSETS:
|
Nature/ Details
of Assets |
Market Value of assets |
Details of encumbrances |
|
|
|
|
|
Gold |
0.500 |
0.500 |
|
Agricultural Law at Nashik |
8 Acres |
8.000 |
(TOTAL ASSETS: RS.31.804 MILLIONS)
IMMOVABLE PROPERTY:
Flat at Nashik: Area = 1485 sq. ft. Build up
(Purchases Cost = 1.700 Millions)
Market Value = Rs.5.000 Millions – 50% Shares
= Rs.2.500 Millions
Flat at Parel
Market Value = Rs.4.000 Millions – 50% shares
= Rs.2.000 Millions
CAPITAL INVESTED
IN BUSINESS:
|
Name of the
Company/ Firm/ Concern in which investment is made |
Rs.
In Millions |
|
|
|
|
H. K. Garments – Proprietor Capital Accounts |
0.947 |
|
Secured Loans with Bank and Accounts Coincident Separately |
3.758 |
|
Factory Premises Shown Sept. |
0.977 |
|
|
|
|
Total |
3.729 |
FACILITIES
WITH FINANCIAL INSTITUTE AND BANK:
|
Name of the
Institution/ Bank |
Nature of Credit Facility |
Extent (Rs. In Millions) |
|
|
|
|
|
Corporation Bank |
C/C |
0.600 |
|
|
T/L |
2.000 |
BORROWINGS
FROM OTHERS:
|
Name of the
Lender |
Amount Borrowed (Millions) |
Details of securities Furnished |
|
|
|
|
|
Dena Bank |
0.195 |
Housing Loan
(50%) |
TOTAL LIABILITY:
RS.2.795 MILLIONS
TOTAL NET WORTH:
RS.29.009 MILLIONS
STATEMENT OF ASSETS AND
LIABILITY
(MRS. VANDANA V.
DARADE)
IMMOVABLE
PROPERTIES
|
Name
of the Owner |
Description of Property |
Location/ Address of the Property |
Extent of building area constructed |
Type of Property |
|
|
|
|
|
|
|
Mrs. Vandana Darode |
Res. Factory |
Nirlep House, Parel |
400 sq. ft. |
Residential |
|
|
Res. Factory |
Nashik |
1485 sq. ft. |
Residential |
|
Details of Documents Conferring Right |
Date of Purchases of Property |
Original Purchases Cost (Millions) |
Present market Value on 31.07.08 |
Details of encumbrances on the property |
|
|
|
|
|
|
|
Agreement for
Sale |
2001 |
1.600 |
2.000 |
Dena Bank Housing Loans |
|
Agreement for
Sale |
2007 |
1.700 |
2.500 |
Dena Bank Housing Loans |
Government
Security/ National Savings Certificates/ Shares of listed companies/ Units of
Unit Trust of India
|
Description of
Security |
Face Value (Millions) |
Market Value (Millions) |
|
|
|
|
|
ICICI Bank |
0.005 |
0.005 |
OTHER ASSETS:
|
Nature/ Details
of Assets |
Market Value of assets |
Details of encumbrances |
|
|
|
|
|
Gold |
0.200 |
- |
|
Loans and Advance |
0.360 |
- |
|
Activa - Honda |
0.048 |
- |
(TOTAL ASSETS: RS.5.113 MILLIONS)
FACILITIES WITH
FINANCIAL INSTITUTE AND BANK:
|
Name of the
Institution/ Bank |
Nature of Credit Facility |
Extent (Rs. In Millions) |
|
|
|
|
|
Dena Bank |
Housing Loan |
50% 0.195 Flat
at Parel |
TOTAL LIABILITY:
RS.0.195 MILLIONS
TOTAL NET WORTH:
RS.4.918 MILLIONS
STATEMENT OF ASSETS AND
LIABILITY
(MR. KARTIK
GOPINATH BODKE)
CAPITAL INVESTED IN BUSINESS:
|
Name of the Company/
Firm/ Concern in which investment is made |
Rs.
In Millions |
|
|
|
|
Kirtika Fashion |
0.315 |
|
Bank Loan |
0.606 |
|
Residence Flat at Nashik |
0.285 |
|
|
|
|
Total |
1.206 |
IMMOVABLE
PROPERTIES
|
Name
of the Owner |
Description of Property |
Location/ Address of the Property |
Extent of building area constructed |
Type of Property |
|
|
|
|
|
|
|
Mr. Kartik Bodke |
Flat at Nashik |
9, Ambika Shakti CHL, Peth Road, Nashik |
700 sq. ft. |
Residential |
|
|
|
|
|
|
|
Details of Documents Conferring Right |
Date of Purchases of Property |
Original Purchases Cost (Millions) |
Present market Value on 31.07.08 |
Details of encumbrances on the property |
|
|
|
|
|
|
|
Agreement for
Sale |
2004 |
0.285 |
1.100 |
Dena Bank Housing Loans |
|
|
|
|
|
|
(TOTAL ASSETS: RS.1.736 MILLIONS)
FACILITIES WITH
FINANCIAL INSTITUTE AND BANK:
|
Name of the
Institution/ Bank |
Nature of Credit Facility |
Extent (Rs. In Millions) |
|
|
|
|
|
Dena Bank |
Term Loans |
0.283 |
|
Dena Bank |
Housing Loans |
0.100 |
TOTAL LIABILITY:
RS.0.383 MILLIONS
TOTAL NET WORTH:
RS.1.353 MILLIONS
SALES STATEMENT: (01.03.2008 TO 01.08.2008)
|
|
(Rs. In Millions) |
|
March |
0.292 |
|
April |
0.312 |
|
May |
0.289 |
|
June |
0.306 |
|
July |
0.327 |
|
August |
0.342 |
|
|
|
|
Total |
1.868 |
TRADE REFERENCE:
- Jay Enterprises
- Jal Exports
FIXED ASSETS
- Air Conditioner
- Aquaguard Purifier
- Comp. Emb. Machine – NE
- New Com. EMB. Machine Tajima
- Weaver Comp EMB Machine
- C. C. Cameras
- Computer and Printer
- Punching/ Editing Software’s
- Factory Premises
- Factory Renovation
- Furniture
- Motor Car – Maruti Zen
- Motor Cycle
- Single Head Toyota Machine
- Stabiliser
- Mobile
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.46.32 |
|
UK Pound |
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.65.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|