MIRA INFORM REPORT
|
Report Date : |
13.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
COASTAL MINES AND MINERALS |
|
|
|
|
Registered
Office : |
1088/B, Prerana Hommes, Ranade Colony, Hindwadi, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.06.2010 |
|
|
|
|
Com. Reg. No.: |
BEL-F77-2010-11 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGFC8662E |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business
: |
Exporter and Trader of Minerals and Ores such as Iron |
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 |
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new concern and yet to established track. The valuation
report and networth statement provided seems to be satisfactory. No further
details or payment records could be made available. It would be advisable to take adequate securities while dealing with
the subject. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. M. N. Rajgolkar |
|
Designation : |
Partner |
|
Contact No.: |
91-9945333081 |
|
Date : |
06.04.2011 |
LOCATIONS
|
Registered Office : |
1088/B, Prerana Hommes, Ranade Colony, Hindwadi, |
|
Tel. No.: |
91-831-2466111/ 2404163 |
|
Mobile No.: |
91-9945333081 (91-9945333081) |
|
Fax No.: |
91-831-2466101 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Factory : |
Storage Plot No.99/1, |
|
Location : |
Rented |
|
|
|
|
Branch Office : |
302, Gouvei Chambers, 3rd Floor, |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mrs. Vilasini Vasude Ghotage |
|
Designation : |
Partner |
|
Address : |
202, Chidambar Nagar, Angol Extension, Tilakwadi, |
|
Date of Birth/Age : |
74 years |
|
Experience : |
20 years |
|
|
|
|
Name : |
Mr. Mallappa Narayan Rajgolkar |
|
Designation : |
Partner |
|
Address : |
Plot No.1, |
|
Date of Birth/Age : |
48 Years |
|
Qualification : |
B. Com |
|
Experience : |
5 Years |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Trader of Minerals and Ores such as Iron |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Exporters |
|
|
|
|
Suppliers : |
· V. G. Quenim 1st Floor,
Keni Building, Dr Dada Vaidya Road, Panaji- 403001, Goa, India · Damodar Mangaui and Company Limited M.G Road · Ahllalbal Sardesai SF-1, Navelkar Arcade, · MSPL Baldota Enclave, · V.M Salgoacar and Bros Private Limited Salgaocar House, Dr Fransico Luis Gomes Road, Vasco Da
Gama – 403802, Goa, India |
|
|
|
|
No. of Employees : |
6 (Approximately) (Office – 4 and Branch – 2) |
|
|
|
|
Bankers : |
· Corporation Bank KLS Gogte Collage Branch, Tilakwadi, |
|
|
|
|
Facilities : |
Credit Limit – Rs.90.000 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vinayak Mutagekar Chartered Accountant |
|
Address : |
1515/A, Haneshpur Galli, Shahapur, |
|
Tel. No.: |
91-831-2486688 |
|
Email : |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
|
Capital Investment : |
|
|
Owned : |
Rs.35.000 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.35.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
35.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
35.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
35.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
35.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.000 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
35.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.000 |
|
|
Net Current Assets |
|
|
35.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
35.000 |
|
LOCAL AGENCY FURTHER INFORMATION
COST
OF PROJECT
(RS. IN MILLIONS)
|
Particulars |
Amount |
|
|
|
|
Land |
-- |
|
Development and Acquisition |
-- |
|
Preliminary Expenses |
-- |
|
Margin for Working Capital |
40.000 |
|
|
|
|
Total |
40.000 |
MEANS OF FINANCE
(RS. IN MILLIONS)
|
Particulars |
Amount |
|
|
|
|
Equity Capital |
5.000 |
|
Unsecured Loans (Quasi Equity) |
35.000 |
|
|
|
|
Total |
40.000 |
------------------------------------------------------------------------------------------------------------------------------
OPERATING
STATEMENT AND PROFIT AND LOSS ACCOUNTS
(RS. IN MILLIONS)
|
Particulars |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
||
|
|
|
|
||
|
Gross Sales |
371.250 |
693.000 |
866.250 |
990.000 |
|
|
|
|
|
|
|
Total |
371.250 |
693.000 |
866.250 |
990.000 |
|
|
|
|
|
|
|
Less: Excise Duty |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Net Sales |
371.250 |
693.000 |
866.250 |
990.000 |
|
|
|
|
|
|
|
%age rise/ fall in net sales as compared to previous year |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Cost of Sales |
|
|
|
|
|
Raw Materials |
504.900 |
642.600 |
814.725 |
929.475 |
|
|
|
|
|
|
|
Other Spares |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Power and Fuel |
0.100 |
0.200 |
0.220 |
0.250 |
|
Direct Labour (Factory, wages and salaries) |
0.300 |
0.600 |
0.660 |
0.726 |
|
Other Manufacturing Expenses |
-- |
-- |
-- |
-- |
|
Depreciation |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Sub – Total |
505.300 |
643.400 |
815.605 |
930.451 |
|
|
|
|
|
|
|
Add: Opening Stocks in Process |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Total |
505.300 |
643.400 |
815.605 |
930.451 |
|
|
|
|
|
|
|
Deduct: Closing Stocks in Process |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Cost of
Production |
505.300 |
643.400 |
815.605 |
930.451 |
|
|
|
|
|
|
|
Add: Opening Stock of Finished Goods |
-- |
160.650 |
160.650 |
172.125 |
|
|
|
|
|
|
|
Sub Total |
505.300 |
804.050 |
976.255 |
1102.576 |
|
|
|
|
|
|
|
Deduct: Closing Stock of Finished Goods |
160.650 |
160.650 |
172.125 |
183.600 |
|
|
|
|
|
|
|
Sub Total (Total Cost of
Sales) |
344.650 |
643.400 |
804.130 |
918.976 |
|
|
|
|
|
|
|
Gross Profit |
26.600 |
49.600 |
62.120 |
71.024 |
|
|
|
|
|
|
|
Interests |
-- |
-- |
-- |
-- |
|
Cash Credit Limit |
6.750 |
14.850 |
16.088 |
17.325 |
|
|
|
|
|
|
|
General, Administrative and selling Expenses |
5.569 |
10.395 |
12.994 |
14.850 |
|
|
|
|
|
|
|
Sub- Total |
12.319 |
25.245 |
29.081 |
32.175 |
|
|
|
|
|
|
|
Operating Profit |
14.281 |
24.355 |
33.039 |
38.849 |
|
|
|
|
|
|
|
Other Income/ Expenses |
|
|
|
|
|
Add: Income |
-- |
-- |
-- |
-- |
|
Less: Expenses |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Sub Total |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Profit before tax |
14.281 |
24.355 |
33.039 |
38.849 |
|
|
|
|
|
|
|
Provision for taxes |
4.570 |
7.794 |
10.572 |
12.432 |
|
|
|
|
|
|
|
Net Profit/ loss |
9.711 |
16.561 |
22.466 |
26.417 |
|
|
|
|
|
|
|
Dividends (Including Tax) |
-- |
2.000 |
3.000 |
4.000 |
|
|
|
|
|
|
|
Profit Transferee to Reserve |
9.711 |
14.561 |
19.466 |
22.417 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE
SHEET
(RS. IN MILLIONS)
|
Particulars |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
||
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
Short term bank borrowings |
|
|
|
|
|
- From Applicant Bank |
120.000 |
120.000 |
130.000 |
140.000 |
|
- From Other Banks |
-- |
-- |
-- |
-- |
|
(Of which BP and BD) |
|
|
|
|
|
|
|
|
|
|
|
Sub Total (A) |
120.000 |
120.000 |
130.000 |
140.000 |
|
|
|
|
|
|
|
Short Term borrowing- others |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Creditors |
1.500 |
2.000 |
2.500 |
3.000 |
|
|
|
|
|
|
|
Current Liabilities |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Security Deposits and Payable to Dealers |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Provision for Doubtful Debt |
4.570 |
7.794 |
10.572 |
12.432 |
|
|
|
|
|
|
|
Other Current Liabilities |
0.500 |
1.000 |
1.500 |
2.000 |
|
|
|
|
|
|
|
SUB TOTAL (B) |
6.570 |
10.794 |
14.572 |
17.432 |
|
|
|
|
|
|
|
TOTAL CURRENT
LIABILITIES |
126.570 |
130.794 |
144.572 |
157.432 |
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
Debentures |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Creditors for Capital Goods |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Term Loan |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Deferred sales Tax liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Term Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Other Term Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL TERM
LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL OUTSIDE LIABILITIES
|
126.570 |
130.794 |
144.572 |
157.432 |
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
|
|
|
|
Ordinary Share Capital |
5.000 |
14.711 |
29.273 |
48.739 |
|
|
|
|
|
|
|
Loan from Directors and Share Holders |
35.000 |
35.000 |
25.000 |
10.000 |
|
|
|
|
|
|
|
Share Application Money |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Deferred Tax Liability |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Reserve and Surplus |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Surplus (+) Deficit (-) in Profit and Loss A/c |
9.711 |
14.561 |
19.466 |
22.417 |
|
|
|
|
|
|
|
TOTAL NET WORTH |
49.711 |
64.273 |
73.739 |
81.156 |
|
|
|
|
|
|
|
TOTAL
LIABILITIES |
176.281 |
195.066 |
218.311 |
238.588 |
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
Cash and bank balances |
5.061 |
10.123 |
13.614 |
15.056 |
|
|
|
|
|
|
|
Investment |
0.000 |
0.000 |
0.000 |
0.000 |
|
Receivables |
|
|
|
|
|
- Domestic Receivables |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
|
|
|
|
Raw Materials |
160.650 |
160.650 |
172.125 |
183.600 |
|
|
|
|
|
|
|
Stock in Process |
-- |
-- |
-- |
-- |
|
Finished Goods |
-- |
-- |
-- |
-- |
|
Other Consumable Spares |
-- |
-- |
-- |
-- |
|
Advances to suppliers |
5.000 |
15.000 |
20.000 |
25.000 |
|
Advance Payment of Taxes |
4.570 |
7.794 |
10.572 |
12.432 |
|
Other Current Assets |
1.000 |
1.500 |
2.000 |
2.500 |
|
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
176.281 |
195.066 |
218.311 |
238.588 |
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
|
|
|
|
Gross Block |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Capital Work in Progress |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Depreciation to date |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Net Block |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
OTHER NON
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
Long term investments (In Subsidiaries) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Other non Current assets |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Total other non
Current Assets |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Intangible Assets |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
TOTAL ASSETS |
176.281 |
19.5.066 |
218.311 |
238.588 |
|
|
|
|
|
|
|
Tangible Net worth |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Net Working Capital |
49.711 |
64.273 |
73.739 |
81.156 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF
MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS IN MILLIONS)
|
Particulars |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
||
|
|
|
|
||
|
Working capital gap [WCG] |
169.711 |
184.273 |
203.739 |
221.156 |
|
|
|
|
|
|
|
Min. stipulated Net Working Capital – 25 % of total current assets other than Export Receivables |
42.428 |
46.068 |
50.935 |
55.289 |
|
|
|
|
|
|
|
Actual/ Projected net working capital |
49.711 |
64.273 |
73.739 |
81.156 |
|
|
|
|
|
|
|
Item 1 minus item 2 |
127.283 |
138.204 |
152.804 |
165.867 |
|
|
|
|
|
|
|
Item 1 minus item 3 |
120.000 |
120.000 |
130.000 |
140.000 |
|
|
|
|
|
|
|
Maximum permissible bank finance |
120.000 |
120.000 |
130.000 |
140.000 |
|
|
|
|
|
|
|
Excess borrowings, if any representing shortfall in NWC |
-- |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
(RS IN MILLIONS)
|
Particulars |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
||
|
|
|
|
||
|
A CURRENT ASSETS |
|
|
|
|
|
Raw Materials |
|
|
|
|
|
[a] Imported |
-- |
-- |
-- |
-- |
|
[b] Indigenous |
160.650 |
160.650 |
172.125 |
183.600 |
|
|
|
|
|
|
|
Other consumable spares |
|
|
|
|
|
[a] Imported |
-- |
-- |
-- |
-- |
|
[b] Indigenous |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Stock in process |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Finished goods |
-- |
-- |
-- |
-- |
|
Months cost of sales |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Receivable other than export and deferred receivables
[including bills purchased and discounted by bankers] |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Export receivables [including bills
purchased and discounted by bankers months export sales] |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Tax Paid in Advance |
4.570 |
7.794 |
10.572 |
12.432 |
|
|
|
|
|
|
|
Advances to suppliers of raw materials and
stores/ spares consumable |
5.000 |
15.000 |
20.000 |
25.000 |
|
|
|
|
|
|
|
Other current Assets including cash and bank
balances and deferred receivable due within one year |
6.061 |
11.623 |
15.614 |
17.556 |
|
|
|
|
|
|
|
TOTAL CURRENT ASSETS |
176.281 |
195.066 |
218.311 |
238.588 |
|
|
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
|
|
[Other than bank borrowing for working capital] |
|
|
|
|
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
1.500 |
2.000 |
2.500 |
3.000 |
|
|
|
|
|
|
|
Advances from customers |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Accrued Expenses |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Provision For Taxes |
4.570 |
7.794 |
10.572 |
12.432 |
|
|
|
|
|
|
|
Statutory liabilities |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Other Current Liabilities |
0.500 |
1.000 |
1.500 |
2.000 |
|
|
|
|
|
|
|
TOTAL |
6.570 |
10.794 |
14.572 |
17.432 |
|
|
|
|
|
|
|
Working Capital |
169.711 |
184.273 |
203.739 |
221.156 |
|
|
|
|
|
|
|
Actual/ Projected Bank Borrowings for W/c Excl. L/C Utilised |
120.000 |
120.000 |
130.000 |
140.000 |
|
|
|
|
|
|
|
Total Current Liabilities |
126.570 |
130.794 |
144.572 |
157.432 |
|
|
|
|
|
|
|
Net Working Capita |
49.711 |
64.273 |
73.739 |
81.156 |
----------------------------------------------------------------------------------------------------------------------------
CASH
FLOW STATEMENT
(RS. IN MILLIONS)
|
Particulars |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
||
|
SOURCES
OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
Cash Accruals (Net Profit + Interest + Tax) |
21.031 |
39.205 |
49.126 |
56.174 |
|
Increase in Capital |
5.000 |
-- |
-- |
-- |
|
Depreciation |
-- |
-- |
-- |
-- |
|
Increase in Term Loans |
-- |
-- |
-- |
-- |
|
Increase in Creditors |
1.500 |
0.500 |
0.500 |
0.500 |
|
Increase in Over Draft Logistic Business |
-- |
-- |
-- |
-- |
|
Increase in Unsecured Loans |
35.00 |
-- |
(10.000) |
(15.000) |
|
Cash Credit Limit |
120.000 |
-- |
10.000 |
10.000 |
|
Prel. Expenses W/o |
-- |
-- |
-- |
-- |
|
Advance from Customers |
-- |
-- |
-- |
-- |
|
Other current Liabilities |
0.500 |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
|
TOTAL
SOURCES (A) |
183.031 |
40.205 |
50.126 |
52.174 |
|
|
|
|
|
|
|
DISPOSITION
OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preliminary and Pre Op. Expenses |
-- |
-- |
-- |
-- |
|
Increase in fixed Assets |
-- |
-- |
-- |
-- |
|
Increase in current Assets |
|
|
|
|
|
Inventories |
160.650 |
-- |
11.475 |
11.475 |
|
Debtors |
-- |
-- |
-- |
-- |
|
Decrease in Term Loans |
-- |
-- |
-- |
-- |
|
Decrease in Unsecured Loans/ Deposits |
-- |
-- |
-- |
-- |
|
Increase in Advances to Suppliers |
5.000 |
10.000 |
5.000 |
5.000 |
|
Increase in Investments |
-- |
-- |
-- |
-- |
|
Interests |
6.750 |
14.850 |
16.088 |
17.325 |
|
Taxation |
4.570 |
7.794 |
10.572 |
12.432 |
|
Dividend
|
-- |
2.000 |
3.000 |
4.000 |
|
Increase in Other C/A |
1.000 |
0.500 |
0.500 |
0.500 |
|
Increase in Loans and Advance |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
TOTAL
DISPOSITION (B) |
177.970 |
35.144 |
46.635 |
50.732 |
|
|
|
|
|
|
|
Net
Surplus (A-B) |
5.061 |
5.061 |
3.491 |
1.442 |
|
|
|
|
|
|
|
Opening Cash Balance |
-- |
5.061 |
10.123 |
13.614 |
|
|
|
|
|
|
|
Closing Cash Balance |
5.061 |
10.123 |
13.614 |
15.056 |
------------------------------------------------------------------------------------------------------------------------------
FUND
FLOW STATEMENT
(RS. IN MILLIONS)
|
Particulars |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
||
|
SOURCES |
|
|
|
|
|
|
|
|
|
|
|
Net profit After Tax |
9.711 |
16.561 |
22.466 |
26.417 |
|
|
|
|
|
|
|
Depreciation |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Increase in Capital |
40.000 |
35.000 |
-- |
-- |
|
|
|
|
|
|
|
Increase in Term Liability |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Decrease in |
|
|
|
|
|
-
Fixed Assets |
-- |
-- |
-- |
-- |
|
- Other
Non Current Assets |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Others |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
TOTAL SOURCES |
49.711 |
51.561 |
22.466 |
26.417 |
|
|
|
|
|
|
|
USES |
|
|
|
|
|
|
|
|
|
|
|
Net Loss |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Decrease in Term Liability |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Increase in |
|
|
|
|
|
-
Fixed Assets |
-- |
-- |
-- |
-- |
|
-
Other Non Current Assets |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Dividend Payments |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Others |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
TOTAL USES |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Long Term Surplus (+) Deficit (-) |
49.711 |
51.561 |
22.466 |
26.417 |
|
|
|
|
|
|
|
Increase/ Decrease in current Assets (as per details Given Below) |
161.650 |
161.150 |
11.975 |
11.975 |
|
|
|
|
|
|
|
Increase/ decrease in current Liabilities other Than Bank Borrowing |
6.570 |
4.224 |
3.779 |
2.859 |
|
|
|
|
|
|
|
Increase/ decrease Working Capital Gap |
169.711 |
14.561 |
19.466 |
17.417 |
|
|
|
|
|
|
|
Net surplus (+)/ Deficit (-) |
(120.000) |
37.000 |
3.000 |
9.000 |
|
|
|
|
|
|
|
Increase/ decrease in Bank Borrowings |
120.000 |
-- |
10.000 |
10.000 |
|
|
|
|
|
|
|
INCREASE/ DECREASE
IN NET SALES |
371.250 |
321.750 |
173.250 |
123.750 |
|
|
|
|
|
|
|
Break-Up of (4) |
|
|
|
|
|
|
|
|
|
|
|
Increase/ Decrease in Raw Materials |
160.650 |
160.650 |
11.475 |
11.475 |
|
|
|
|
|
|
|
Increase/ Decrease in Consumable |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Increase/ Decrease in Finished Goods |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Increase/ Decrease in Receivables |
|
|
|
|
|
Domestic |
-- |
-- |
-- |
-- |
|
Export |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Increase/ Decrease in Other current Assets |
1.000 |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
|
Total |
161.650 |
161.150 |
11.975 |
11.975 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
AND COMPARATIVE RATIO
(RS. IN MILLIONS)
|
Particulars |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
|
|
(Estimated) |
(Projected) |
||
|
Net Sales |
371.250 |
693.000 |
866.250 |
990.000 |
|
|
|
|
|
|
|
Percentage rise in net sales |
-- |
18.667 |
12.500 |
11.429 |
|
|
|
|
|
|
|
Profit Before Tax |
14.281 |
24.355 |
33.039 |
38.849 |
|
|
|
|
|
|
|
Net profit after Tax |
9.711 |
16.561 |
22.466 |
26.417 |
|
|
|
|
|
|
|
Drawing |
-- |
2.000 |
3.000 |
4.000 |
|
|
|
|
|
|
|
Retained Profit |
9.711 |
14.561 |
19.466 |
22.417 |
|
|
|
|
|
|
|
Retained Profit (%) |
100.00% |
87.92% |
86.65% |
84.86% |
|
|
|
|
|
|
|
Raw Material |
|
|
|
|
|
-
Imported |
-- |
-- |
-- |
-- |
|
-
Indigenous |
160.650 |
160.650 |
172.125 |
183.600 |
|
Month Consumption |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Stock in Process |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Finished Goods |
-- |
-- |
-- |
-- |
|
Month Consumption |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Other Consumption and Spares |
-- |
-- |
-- |
-- |
|
Month Consumption |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Receivable (Other Than Export and Deferred) |
-- |
-- |
-- |
-- |
|
Month Consumption |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Export Receivable |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
A. Sundry Creditors L/C |
-- |
-- |
-- |
-- |
|
Month Consumption |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
B. Sundry Creditors Trade |
1.500 |
2.000 |
2.500 |
3.000 |
|
Month Consumption |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Net working Capital |
49.711 |
64.273 |
73.739 |
81.156 |
|
|
|
|
|
|
|
Current Ratio |
1.39 |
1.49 |
1.51 |
1.52 |
|
|
|
|
|
|
|
Tangible Net worth |
49.711 |
64.273 |
73.739 |
81.156 |
|
|
|
|
|
|
|
Total Outside Liabilities/ Tangible Net
worth |
2.55 |
2.03 |
1.96 |
1.94 |
|
|
|
|
|
|
|
Total Term Liabilities/ Tangible Net worth |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
Bank Borrowing / Total Outside Liabilities |
0.95 |
0.92 |
0.90 |
0.89 |
|
|
|
|
|
|
|
Net Sales/ Total Tangible Assets |
2.11 |
3.55 |
3.97 |
4.15 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF ASSETS AND LIABILITIES
MRS.
VILASINI VASUDE GHOTAGE
(RS.
IN MILLIONS)
ASSETS
IMMOVABLE PROPERTY
|
Survey No. |
Area |
Location |
Name |
Amount |
Market Value |
|
|
|
|
|
|
|
|
RS.No-48 |
2 Acres 32 Guntas |
Village: Gunji, Tal. Khanapur, District: |
Vilasini V. Ghotage |
0.126 |
2.500 |
|
|
|
|
|
|
|
|
RS.No-48/B |
2 Acres 28 Guntas |
Village: Gunji, Tal: Khanapur, Dist: Seller : Ramesh Mannolkar |
Vilasini V. Ghotage |
0.121 |
2.200 |
|
|
|
|
|
|
|
|
RS.48/ K |
1 Acres 14 Guntas |
Village: Gunji, Tal: Khanapur, Dist: Seller: Ramesh Mannolkar |
Vilasini V. Ghotage |
0.061 |
1.200 |
|
|
|
|
|
|
|
|
CTS.no-202/ A-3 |
697.22 Sq. Mts |
Seller: Sudha Sadashiv Gokhale |
Vilasini V. Ghotage |
0.131 |
3.500 |
|
|
|
|
|
|
|
|
RS.No-31 |
17 Acres 34 Guntas |
Village: Kangale. Tal: Khanapur, Dist: Seller: Prakash, Mohan and Namdev Gurav |
Vilasini V. Ghotage |
0.600 |
5.000 |
|
|
|
|
|
|
|
|
Rs.No-6/B1 |
18 Acres 20 Guntas |
Village: Gunji, Tal: Khanapur, Dist: Seller: Shivappa, Prermanand, Sujata Guarav |
Vilasini V. Ghotage |
0.555 |
5.000 |
|
|
|
|
|
|
|
|
Resent Market Value |
19.400 |
||||
INVESTMENT IN
BUSINESS CAPITAL
|
Name of the company/ firm/ Concern of which
investment is made |
-- |
|
|
|
|
Date of Investment |
Aug. 10 |
|
|
|
|
Present Value of Investments |
Rs.35.000 Millions |
OTHER
ASSETS
|
Cash in Hand |
1.000 |
|
|
|
|
Total Value of
Other assets |
1.000 |
|
TOTAL ASSETS |
RS.55.400
MILLIONS |
|
NET WORTH |
RS.55.400
MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF ASSETS AND LIABILITIES
MR.
MALLAPPA NARAYAN RAJGOLKAR
(RS. IN MILLIONS)
ASSETS
IMMOVABLE PROPERTY
|
Address of the Property with survey no./
Door No. etc. |
Plot No.3, Building No.1, |
|
|
|
|
Description: Land/ Site/ Building |
Building |
|
|
|
|
Area/ Extent of Land |
1050 sq. ft. |
|
|
|
|
Mortgaged for Availing loan if any details
thereof |
Union Bank of |
|
|
|
|
Present market / Assessed Value |
Rs.2.000 Millions |
DEPOSITS HELD WITH
BANKS/ COMPANIES/ OTHER LENDER ETC.
|
Name of the Bank/ Company where deposits are
held |
-- |
|
|
|
|
Nature of deposits |
R.D. |
|
|
|
|
Present Value of Investments |
Rs.0.010 Million |
LIFE
INSURANCE POLICY
|
Date of Policy |
1988 |
|
|
|
|
Endowment/ whole Life etc. |
Endowment |
|
|
|
|
Annual Premium |
0.001 |
|
|
|
|
Sum Assured |
0.030 |
|
|
|
|
Surrender
Value |
Rs.0.100
Million |
VEHICLES
OWNED
|
Model / Make |
Swift – 2010 |
|
|
|
|
Date of Purchases |
June – 2010 |
|
|
|
|
Whether Hypothecated for Loan |
Corporation Bank |
|
|
|
|
Details of Loan against vehicles |
0.434 |
|
|
|
|
Present
Market Value |
Rs.0.600
Millions |
OTHER
ASSETS
|
Furniture and Fixtures |
Rs.0.035 Million |
|
|
|
|
Cash in Hand |
Rs.0.020 Million |
|
|
|
|
Jewellery |
Rs.0.050 Million |
|
|
|
|
Total Value of
Other assets |
Rs.0.105 Million |
|
TOTAL ASSETS |
RS.2.815
MILLIONS |
LIABILITIES
FURNISH
LOANS AVAILED FROM BANK/ FINANCIAL INSTITUTIONS AND OTHER BORROWINGS
|
Name of the Bank/ Institution |
Corporation Bank Union Bank of |
|
|
|
|
Nature / Type of Loan |
Vehicles Loans Housing Loan |
|
|
|
|
Date of Loan |
June – 2010 September – 2006 |
|
|
|
|
Amount of Loan Availed |
0.450 0.900 ------------ 1.350 |
|
|
|
|
Security/ Offered if any |
Hypothecation |
|
|
|
|
Amount
Outstanding (Total
Liabilities) |
0.434 0.379 ------------ 0.813 |
|
NET WORTH |
RS.2.002
MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
Purpose for which valuation is made |
Collateral Security |
||
|
|
|
||
|
Date on which valuation is made |
26-10-2010 |
||
|
|
|
||
|
Persons Accompanying/available at the time of visit for valuation |
Mr. H G Thyagaraaj |
||
|
|
|
||
|
For whom the valuation report is prepared |
Corporation Bank |
||
|
|
|
||
|
Name and address of the legal adviser |
Mr. Ajay T, |
||
|
|
|
||
|
Name of the owner I Title holder |
Mrs. H K Savithri,
W/o Mr. H G Thyagaraj |
||
|
|
|
||
|
Present address of the owner |
No. 114, V V Layout, |
||
|
|
|
||
|
Since how long the owner owns the property |
25-10-2004 |
||
|
|
|
||
|
Whether joint/ Co-ownership/ other, specify |
Sole ownership |
||
|
|
|
||
|
Whether assessed to the wealth tax , if so details of wealth tax paid |
No |
||
|
|
|
||
|
Corporation/ CMC
Tax paid |
Amount |
Assmt. Year |
Payment Date |
|
Nelavagilu Grama Panchayath |
Rs.0.015 Million |
2010-11 |
13.10.2010 |
|
|
|
|
|
|
Agreement of Easement if any |
Nil |
||
|
|
|
||
|
Restrictive clause as to use if any , whether building use certificate
from corporation had been obtained |
Nil |
||
|
|
|
||
|
Name and address of the mortgager applicants |
M/s Coastel Mines and Minerals Prerana Hommes, Hindwadi, |
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Complete address of the property (Door No./ |
Property Comprising 4 Acres 07 Guntas in Sy No 63/2 , Tharabahalli Village,
Nandagudi Hobli, Hosakote Taluk Bangalore Rural District, Bangalore |
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Boundaries of the property |
East by - West by - Land belonging to Bachanna and Channappa North by - Land belonging to T S Anantharamu and Channarayappapa South by - |
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Location. |
Located off
Hosakote to Chinthamani road at 16 km point from Hosakote and 3 km from Nandagudi, The
property is at about !h km from the Main Road. |
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Advantages |
The International
Airport is at bout 10 km from H Cross Junction which is % km from Site and chinthamani is at
about 28km. Pilugumpe Industrial area is also nearby |
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Classification of locality |
Middle class |
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Civic amenities |
All Civic amenities are available nearby |
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Proximity to surface communication |
Within 16 km from Hosakote and 28 km from Chinthamani |
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Distance from the city municipal limits |
16 km from Hosakote |
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If the property is not within the city/ town/ municipal limits, then state the distance
from the municipal limits |
NA |
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Title of the property a) Whether free hold |
Yes |
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Type of the property |
Converted land from
Agricultural purpose to Industrial development purpose by the order of Deputy
Commissioner Bangalore Rural Dist, |
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Year of acquisition/purchase of property |
25.10.2004 |
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Value/ Purchase Price Paid |
Rs.0.494 Million |
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Year of Commencement |
2007 |
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Number of floors/ Storeys |
Brick
manufacturing Unit with single story Drying Sheds with tiled roof, Labour sheds
with A C Sheet roof, and Single storey residential House with RCC roof |
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Year of completion |
2008 |
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Cost of
Construction/ Replacement: |
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Permanent
building |
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Residential building 800 sq ft@ 1000/ sq ft Verandah and portico 800 sq ft@ 400/ sq ft |
Rs.0.800 Million Rs.0.320 Million |
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Total |
Rs.1.120 Million |
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Depreciation for 2 years @ 3 % |
Rs.0.034 Million |
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Present value Rounded off to
(A) |
Rs.1.086 Million Rs.1.100 Million |
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Sheds |
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Drying Sheds 23 Nos 25' x 150' 86250 sq ft @ Rs.300/ sq ft |
Rs.25.875 Millions |
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Labour sheds 24 Nos 15' x 10' 3600 sq ft @ Rs.400/ sq ft |
Rs.1.440 Million |
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Brick Burning unit 50'x 108' = 5400 sq ft L S |
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Total |
Rs.31.315 Millions |
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Depreciation for 2 Years @ 4% (-) |
Rs.1.253 Millions |
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Present value Rounded off to
(B) |
Rs.30.062 Millions Rs.30.100 Millions |
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Services Bore Well with Pumps 2 Nos (C) |
Rs.0.300 Million |
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Total = A+B+C |
Rs.31.500 Millions |
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Valuer's opinion regarding the present condition of the building |
The unit is unit is manufacturing Table moulded bricks under the brand
name GTB bricks The capacity of drying Sheds is About 2,50,000/- bricks The unit is functioning from last 2 years |
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Estimated future Life |
38 years |
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Area of land to be supported by a map showing Shape, dimensions, and physical features Areas |
4 Acres 07 guntas i.e 1,81,863 sq ft |
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Has the whole or part of land been notified for acquisition by the
government or statutory body? If so give details |
No |
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Area of Building constructed |
RCC roofed house 800 sq ft Drying sheds 86,250 sq ft Labour sheds 3600 sq ft Brick Burning shed 5400 sq ft |
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Type of construction |
The residential
building is load bearing Structure with spread footings, SS Masonry foundation,
Hard wood doors and Windows, Flooring with Andhra Marble. The drying sheds are with Stone pillars Tiled roofing on wooden
ballies. The labour sheds are of brick walls and AC Sheet roofing and CC
Flooring. |
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If the property is Industrial |
Yes, Table moulded bricks manufacturing unit |
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Whether the property is residential flat/ apartment |
No |
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If the property is of commercial type |
No |
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If the property is Agricultural |
No |
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Whether the Sanctioned plan of the building is enclosed and any deviations from the sanctioned plan |
Approval to
setup Table moulded Brick manufacturing Unit was obtained from Directorate of
Industries and Commerce, Govt of Karnataka Bangalore Rural Dist, General License for setting up Brick manufacturing unit obtained from
Nelavagilu Grama Panchayath on 13-10-2010 |
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Whether the property is self occupied or tenanted |
No |
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Whether the said property was valued earlier? |
No |
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Present
valuation : |
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Land 181863 sq ft @ Rs.600/ sq ft Buildings |
Rs.109.118 Millions Rs.31.500 Millions |
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Total |
Rs.140.618
Millions |
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Rounded off to |
Rs.140.600 Millions |
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Basis of the adopted rates |
Prevailing market rates in the locality |
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Basis for accepting the same |
Local enquiry |
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Whether the building is insured? |
NA |
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In case the Bank were to sell the property, what would be (forced sale value) of the property |
Rs.120.000 Millions |
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Source of information for arriving at the forced sale value |
Forced sale Value is taken between 80% to 85% of the present market
value |
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Summary of
Valuation |
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Particulars |
Present Market
value |
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Land 4 Acres 07 Guntas i.e 1 8 1863 sq ft @ Rs.6001 sq ft |
Rs.109.118 Millions |
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Buildings |
Rs.31.500 Millions |
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Total |
Rs.140.618 Millions |
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Total Rounded
Off to |
Rs.140.600 Millions |
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------------------------------------------------------------------------------------------------------------------------------
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 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.20 |
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1 |
Rs.72.26 |
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Euro |
1 |
Rs.63.90 |
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 |
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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- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.