MIRA INFORM REPORT
|
Report Date : |
14.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
ESSEF LAMINATES |
|
|
|
|
Registered
Office : |
302, Jamuna Darshan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
2000 |
|
|
|
|
IEC No.: |
0306077043 |
|
|
|
|
PAN No.: [Permanent Account No.] |
ADQPD1401P |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer of Aluminium Laminated and Coated Foils. |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established concern having satisfactory track. Trade relations
are reported as fair. The valuation report provided is of a lesser value than
the proposal amount. The networth statement however seems to be satisfactory.
No complaints have been heard on indirect or market sources. 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. Himesh Dadhia |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9322262900/ 9821877347 |
|
Date : |
05.04.2011 |
LOCATIONS
|
Registered Office : |
302, Jamuna Darshan, |
|
Tel. No.: |
91-22-65704941 |
|
Mobile No.: |
91-9322262900/ 9821877347 (Mr. Himesh Dadhia) |
|
Fax No.: |
91-22-28081119 |
|
E-Mail : |
|
|
Area : |
615 sq.ft. (Rented) |
|
|
|
|
Factory : |
6, Konark Udhyog Bhavan I, |
|
Tel. No.: |
91-260-3262308 |
|
E-Mail : |
|
|
Area : |
3200 sq.ft. (Leased) |
SOLE PROPRIETOR
|
Name : |
Mr. Himesh Dadhia |
|
Designation : |
Proprietor |
|
Address : |
1104, Soni Sarovar, Old M.H.B. Colony, Borivali (West), Mumbai, |
|
Date of Birth/Age : |
34 Years |
|
Qualification : |
B.Com |
|
Experience : |
13 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Laminated and Coated Foils. |
|
|
|
|
Imports : |
|
|
Products : |
Aluminium Foils |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Credit (90 Days) |
|
|
|
|
Purchasing : |
L/C and Credit (30 Days) |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Aluminium Foils Coated and Laminated |
Tons |
|
600 |
440 |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
Approximately 18 (Office 4, Factory 14) |
|
|
|
|
Bankers : |
Corporation Bank, Vile Parle (East) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Parekh and Company Chartered Accountant |
|
Address : |
1, Ishwar Kunj, Near Soni Wadi, |
|
Tel. No.: |
91-22-28982512 |
|
E-Mail : |
|
|
Website: |
CAPITAL STRUCTURE
CAPITAL ACCOUNT
(Rs. in Millions)
|
Particulars |
Amount |
Particulars |
Amount |
|
To Drawings |
0.299 |
By Balance b/d |
7.525 |
|
To House Rent |
0.196 |
By Net Profit from P/L Account |
2.676 |
|
To Advance Tax |
0.250 |
By Saving Bank Interest |
0.000 |
|
To LIC Premium |
0.012 |
By Short term Profit on Sale of Share |
0 |
|
To Mediclaim Insurance Premia |
0.008 |
By Interest Accrued on RD |
0 |
|
To Self Assistant Tax (Assessment Year
2009-10) |
0.254 |
By Medical Re- Emburshment |
0.005 |
|
To Membership Fees |
0.046 |
By Dividend On Share |
0.000 |
|
To Balance C/D |
9.141 |
|
|
|
Total |
10.206 |
Total |
10.206 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
9.141 |
7.525 |
6.151 |
|
|
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 |
9.141 |
7.525 |
6.151 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.917 |
7.084 |
6.806 |
|
|
2] Unsecured Loans |
0.339 |
2.557 |
1.862 |
|
|
TOTAL BORROWING |
7.256 |
9.641 |
8.668 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16.397 |
17.166 |
14.819 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.866 |
3.581 |
3.902 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.481 |
0.679 |
0.576 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.544
|
4.497 |
8.175 |
|
|
Sundry Debtors |
24.226
|
23.320 |
13.196 |
|
|
Cash & Bank Balances |
0.068
|
3.666 |
3.439 |
|
|
Other Current Assets |
4.408
|
0.367 |
0.367 |
|
|
Loans & Advances |
1.314
|
0.551 |
0.724 |
|
Total
Current Assets |
34.560
|
32.401 |
25.901 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
19.495 |
15.560 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
4.221
|
0.000 |
0.000 |
|
Total
Current Liabilities |
22.510
|
19.495 |
15.560 |
|
|
Net Current Assets |
12.050
|
12.906 |
10.341 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16.397 |
17.166 |
14.819 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
91.398 |
74.237 |
50.623 |
|
|
|
Other Income |
1.143 |
0.226 |
0.562 |
|
|
|
TOTAL |
92.541 |
74.463 |
51.185 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
71.249 |
53.872 |
41.135 |
|
|
|
Job Work Charges |
6.019 |
5.224 |
2.068 |
|
|
|
Electricity Expenses |
0.149 |
0.160 |
0.164 |
|
|
|
Wages and Salaries |
1.005 |
0.989 |
0.760 |
|
|
|
Carriage Outward |
1.214 |
0.784 |
0.325 |
|
|
|
Salaries and Bonus |
1.091 |
0.706 |
0.410 |
|
|
|
Other Expenses |
8.718 |
10.349 |
4.529 |
|
|
|
TOTAL |
89.445 |
72.084 |
49.391 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.096 |
2.379 |
1.794 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.420 |
0.362 |
0.423 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
2.676 |
2.017 |
1.371 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.89
|
2.71 |
2.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.93
|
2.72 |
2.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.96
|
5.61 |
4.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.27 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.26
|
3.87 |
3.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54
|
1.66 |
1.66 |
LOCAL AGENCY FURTHER INFORMATION
COMPUTATION
OF TOTAL INCOME
ASSESSMENT
YEAR 2010-11
(Rs.
in Millions)
|
Particulars |
Amount |
Amount |
Amount |
|
A) INCOME FROM
BUSINESS |
|
|
|
|
Net Profit as per Profit and Loss Account |
|
|
2.676 |
|
|
|
|
|
|
B) INCOME FROM
CAPITAL GAIN: |
|
|
|
|
Short Term Profit on |
|
|
-- |
|
|
|
|
|
|
C) INCOME FORM
OTHER SOURCES |
|
|
|
|
Saving Bank Interest |
0.000 |
|
|
|
Dividend on Share |
0.000 |
|
|
|
Less: Income from Dividend Exempt U/s 10(34) |
|
0.000 |
0.000 |
|
GROSS TOTAL INCOME |
|
|
2.676 |
|
|
|
|
|
|
Less: Deduction
u/ Ch. VI-A |
|
|
|
|
U/S 80-C |
|
|
|
|
L.I.C. Premium |
0.012 |
|
|
|
N.S.C. |
0.025 |
|
|
|
Bajaj Allianz Life Insurance |
0.020 |
0.057 |
|
|
|
|
|
|
|
U/s 80-D |
|
|
|
|
Mediclaim Insurance Premium |
|
0.008 |
|
|
|
|
|
|
|
U/s 80-IB: |
|
|
|
|
Deduction allowable as industrial undertaking situated at Union
Terrritory of Dadra Nagar Haveli as notified in Eighth Schedule of Income
Tax @ 25% of Net Profit |
|
0.669 |
|
|
|
|
|
|
|
u/s 80- GG: |
|
|
|
|
House Rent Paid |
0.196 |
|
|
|
Maximum permissible Deduction @ Rs. 2000 p.m. |
|
0.024 |
0.758 |
|
TOTAL TAXABLE INCOME |
|
|
1.918 |
|
|
|
|
|
|
Less: Income Considered at Special Rate of Taxes |
|
|
-- |
|
Net Taxable Income at |
|
|
1.918 |
|
|
|
|
|
|
ROUNDED OFF TO |
|
|
1.918 |
|
|
|
|
|
|
Tax payable at Normal Rates on Income is |
|
0.480 |
|
|
Tax payable at Special Rates on Income is (@ 10%) |
|
-- |
|
|
NET TAX PAYABLE |
|
|
0.480 |
|
Add: Surcharge @ 10% |
|
|
-- |
|
|
|
|
0.480 |
|
Add: Education Cess @ 3% |
|
|
0.014 |
|
TOTAL TAX PAYABLE |
|
|
0.494 |
|
|
|
|
|
|
Less: |
|
|
|
|
- Advance Tax paid with Corporation Bank, Vile Parle (East) |
|
0.250 |
|
|
- T.D.S. |
|
0.049 |
|
|
- Self Asst Tax paid with Corporation Bank, Vile Parle (East) on (BSR
Code 0350525 Sr. No.) |
|
0.195 |
0.494 |
|
|
|
|
|
|
TOTAL REFUND DUE |
|
|
-- |
------------------------------------------------------------------------------------------------------------------------------
OPERATING
STATEMENT
(Rs.
in Millions)
|
Particulars |
31.03.2011 Projected |
31.03.2012 Projected |
31.03.2013 Projected |
|
1. Gross Sales |
115.560 |
117.720 |
126.900 |
|
Add: Other Income |
0.300 |
0.350 |
0.450 |
|
Total |
115.860 |
118.070 |
127.350 |
|
|
|
|
|
|
2.Less: Excise Duty |
8.560 |
8.720 |
9.400 |
|
|
|
|
|
|
3. Net Sales (1-2) |
107.300 |
109.350 |
117.950 |
|
Add: Other Income |
|
|
|
|
|
|
|
|
|
4. % age rise (+) or fall (-)
in net sales as compared to previous year |
17.42 |
1.87 |
0.780 |
|
|
|
|
|
|
5. Cost of |
|
|
|
|
|
|
|
|
|
i) Raw Material (Including stores and other items used in the process of manufacture) |
88.500 |
89.000 |
93.500 |
|
|
|
|
|
|
ii) Other Spares |
0.169 |
0.186 |
0.214 |
|
|
|
|
|
|
iii) Power and Fuel |
0.171 |
0.197 |
0.227 |
|
|
|
|
|
|
iv) Direct Labour (Wages and Job Work) |
2.534 |
2.662 |
3.396 |
|
|
|
|
|
|
v) Other manufacturing expenses |
2.091 |
2.351 |
2.840 |
|
|
|
|
|
|
vi) Depreciation |
0.344 |
0.292 |
0.249 |
|
|
|
|
|
|
vii) SUB-TOTAL (i to vi) |
93.810 |
94.689 |
100.426 |
|
|
|
|
|
|
vii) Add: Opening Stocks |
4.244 |
5.200 |
6.700 |
|
|
|
|
|
|
Sub Total |
98.054 |
99.889 |
107.126 |
|
|
|
|
|
|
ix) Less: Closing Stocks |
5.200 |
6.700 |
6.700 |
|
|
|
|
|
|
x) Cost of Production |
92.854 |
93.189 |
100.426 |
|
|
|
|
|
|
xi) Add: Opening stock of Finished goods |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
xii) Sub- Total |
93.154 |
93.489 |
100.726 |
|
|
|
|
|
|
xiii) Deduct Closing Stock of finished goods |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
xiv) Sub- Total (Total cost of Sales) |
92.854 |
93.189 |
100.426 |
|
|
|
|
|
|
6. Factory, Selling, General and administrative expenses |
9.768 |
10.331 |
11.290 |
|
|
|
|
|
|
7. Sub- Total (5+6) |
102.622 |
103.520 |
111.716 |
|
|
|
|
|
|
8. Operating Profit before Interest (3-7) |
4.678 |
5.830 |
6.234 |
|
|
|
|
|
|
9. Interest |
0.237 |
1.193 |
1.171 |
|
|
|
|
|
|
10. Operating Profit after Interest (8-9) |
4.442 |
4.636 |
5.064 |
|
|
|
|
|
|
11.i) Add other non-operating Income |
Nil |
Nil |
Nil |
|
a) |
|
|
|
|
b) |
|
|
|
|
Sub- Total (Income) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
ii) Deduct other non-operating expenses |
Nil |
Nil |
Nil |
|
a) |
|
|
|
|
b) |
|
|
|
|
Sub- Total (Expenses) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
iii) Net of other non operating income / expenses (net of 11(i) and
11(ii) |
-- |
-- |
-- |
|
|
|
|
|
|
12. Profit before tax/ Loss (10+11(iii)) |
4.442 |
4.636 |
5.064 |
|
|
|
|
|
|
13. Provision for taxes |
0.888 |
0.927 |
1.013 |
|
|
|
|
|
|
14. Net Profit/ Loss (12-13) |
3.553 |
3.709 |
4.051 |
|
|
|
|
|
|
15. a) Equity Dividend paid |
-- |
-- |
-- |
|
b) Dividend rate |
-- |
-- |
-- |
|
|
|
|
|
|
16. Retained Profit (14-15|) |
3.553 |
3.709 |
4.051 |
ANALYSIS
OF BALANCE SHEET
(Rs.
in Millions)
|
Particulars |
31.03.2011 Projected |
31.03.2012 Projected |
31.03.2013 Projected |
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
|
01. Secured borrowings from banks (including bills purchased, discounted
and excess borrowings placed on repayment basis) |
-- |
-- |
-- |
|
|
|
|
|
|
i) From Applicant Bank Working Capital |
8.500 |
8.500 |
8.500 |
|
|
|
|
|
|
ii) Demand Loans (L/C Dis) |
-- |
-- |
-- |
|
|
|
|
|
|
iii) Machinery Term Loan |
-- |
-- |
-- |
|
|
|
|
|
|
Sub- Total (A) |
8.500 |
8.500 |
8.500 |
|
|
|
|
|
|
02. Short term borrowings from others |
-- |
-- |
-- |
|
|
|
|
|
|
03. Sundry Creditors (Trade) |
16.500 |
16.000 |
1.600 |
|
|
|
|
|
|
04. Advance payment form customers/ deposits form dealers |
-- |
-- |
-- |
|
|
|
|
|
|
05. Provision for taxation |
-- |
-- |
-- |
|
|
|
|
|
|
06. Dividend Payable |
-- |
-- |
-- |
|
|
|
|
|
|
07. Other Statutory liabilities (Due within one year) |
|
|
|
|
|
|
|
|
|
08. Deposits/ Installments of term Loan/ DPGs/ debentures etc. |
-- |
-- |
-- |
|
|
|
|
|
|
09. Other current liabilities and provisions (due within one year) Rent, Rates, Taxes and Expenses |
3.500 |
2.500 |
2.000 |
|
|
|
|
|
|
Sub- Total (B) |
20.000 |
18.500 |
18.000 |
|
|
|
|
|
|
10. TOTAL
CURRENT LIABILITIES (A+B) |
28.500 |
27.000 |
26.500 |
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
|
|
11. Debentures (not maturing within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
12. Preference Shares (redeemable after one year) |
-- |
-- |
-- |
|
|
|
|
|
|
13. Term Loans (excluding installments payable within one year) |
0.254 |
0.044 |
-- |
|
|
|
|
|
|
14. Deferred payment Credits |
-- |
-- |
-- |
|
|
|
|
|
|
15. Term Deposits (repayable after one year) |
-- |
-- |
-- |
|
|
|
|
|
|
16. Other term liabilities (Unsecured loans) |
1.200 |
1.200 |
1.200 |
|
|
|
|
|
|
17. TOTAL TERM LIABILITIES |
1.454 |
1.244 |
1.200 |
|
|
|
|
|
|
18. TOTAL OUTSIDE
LIABILITIES ( 10+17) |
29.954 |
28.244 |
27.700 |
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
|
|
19. Owner’s Capital |
12.395 |
15.804 |
19.555 |
|
|
|
|
|
|
20. General Reserve |
-- |
-- |
-- |
|
|
|
|
|
|
21. Revaluation Reserve |
-- |
-- |
-- |
|
|
|
|
|
|
22. Other Reserve (Capital Reserve) (excluding provisions) |
-- |
-- |
-- |
|
|
|
|
|
|
23. Surplus (+) or deficit(-) in profit and loss account |
|
|
|
|
|
|
|
|
|
24. NET WORTH |
12.395 |
15.804 |
19.555 |
|
|
|
|
|
|
25. TOTAL
LIABILITIES (18+24) |
42.348 |
44.048 |
47.255 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
26. Cash and Bank Balances |
0.150 |
0.142 |
0.097 |
|
|
|
|
|
|
27. Investments (Other than long term investment) |
3.875 |
3.875 |
3.875 |
|
|
|
|
|
|
28. i) Receivables other than deferred and exports (Including bills
purchased and discounted by banks) |
28.500 |
29.000 |
31.000 |
|
|
|
|
|
|
ii) Export Receivables (Including bills purchased/ discounted by
banks) |
-- |
-- |
-- |
|
|
|
|
|
|
29. Installment of deferred receivables (due within one year) |
-- |
-- |
-- |
|
|
|
|
|
|
30. Inventory: |
|
|
|
|
|
|
|
|
|
i) Raw Materials (Including stores and other items used in the process of manufacture) |
5.200 |
6.700 |
6.700 |
|
a) Imported |
-- |
-- |
-- |
|
b) Indigenous |
-- |
-- |
-- |
|
|
|
|
|
|
ii) Stock-in-process |
-- |
-- |
-- |
|
|
|
|
|
|
iii) Finished Goods |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
iv) Other consumable spares |
|
|
|
|
|
|
|
|
|
a) Imported |
-- |
-- |
-- |
|
b) Indigenous |
-- |
-- |
-- |
|
|
|
|
|
|
31. Advance to suppliers of raw materials and stores/ spares |
-- |
-- |
-- |
|
|
|
|
|
|
32. Loans and Advances |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
33. Other Current Assets - PLA, Cenvat, VAT, TDS |
-- |
-- |
-- |
|
|
|
|
|
|
34. TOTAL CURRENT ASSETS (Total of 26 to 33) |
38.325 |
40.317 |
42.272 |
|
|
|
|
|
|
FIXES ASSETS |
|
|
|
|
|
|
|
|
|
35. Gross Block (Land and building machinery work-in-progress) |
4.286 |
4.286 |
5.786 |
|
|
|
|
|
|
36. Depreciation to date |
0.764 |
1.057 |
1.305 |
|
|
|
|
|
|
37. NET BLOCK (35-36) |
3.522 |
3.229 |
4.481 |
|
|
|
|
|
|
OTHER NON- CURRENT
ASSETS |
|
|
|
|
38. Investments/ book debts advances/ deposits which are not Current
Assets |
|
|
|
|
|
|
|
|
|
i) a) Investments in Subsidiary Companies/ affiliates |
-- |
-- |
-- |
|
|
|
|
|
|
b) Others |
-- |
-- |
-- |
|
|
|
|
|
|
ii) Advances to supplier of Capital goods |
-- |
-- |
-- |
|
|
|
|
|
|
iii) Deferred receivables (maturity exceeding one year) |
-- |
-- |
-- |
|
|
|
|
|
|
iv) Other Investments/ Deposits |
0.502 |
0.502 |
0.502 |
|
|
|
|
|
|
39. Non- Consumable stores and spare |
-- |
-- |
-- |
|
|
|
|
|
|
40. Other non-current assets including dues from directors |
-- |
-- |
-- |
|
|
|
|
|
|
41. TOTAL OTHER NON- CURRENT ASSETS (Total of 38 to 40) |
0.502 |
0.502 |
0.502 |
|
|
|
|
|
|
42. Intangible assets (patents, goodwill, preliminary expenses, bad/
doubtful debts not provided for etc.) |
-- |
-- |
-- |
|
|
|
|
|
|
43. TOTAL ASSETS (Total of 34, 37, 41 and 42) |
42.348 |
44.048 |
47.254 |
|
|
|
|
|
|
44. TANGIBLE NET WORTH (24-42) |
12.395 |
15.804 |
19.555 |
|
|
|
|
|
|
45. NET WORKING CAPITAL [(17+24)-(37+41+42)] To tally with (34-10) |
9.825 |
13.317 |
15.772 |
|
|
|
|
|
|
46. Current Ratio ( Item 34/10) |
1.34 |
1.49 |
1.60 |
|
|
|
|
|
|
47. Total Outside Liabilities/ Tangible Net-worth (18/44) |
2.42 |
1.79 |
1.42 |
|
|
|
|
|
|
ADDITIONAL
INFORMATION |
|
|
|
|
|
|
|
|
|
A) Arrears of depreciation |
-- |
-- |
-- |
|
|
|
|
|
|
B) Contingent Liabilities |
-- |
-- |
-- |
|
|
|
|
|
|
i) Arrears of cumulative dividends |
-- |
-- |
-- |
|
|
|
|
|
|
ii) Gratuity Liability not provided for |
-- |
-- |
-- |
|
|
|
|
|
|
iii) Disputed excise/ Customs/ tax liabilities |
-- |
-- |
-- |
|
|
|
|
|
|
iv) Other liabilities not provided for |
-- |
-- |
-- |
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR CASH CREDIT
(Rs.
in Millions)
|
Particulars |
31.03.2011 Projected |
31.03.2012 Projected |
31.03.2013 Projected |
|
1. Total Current Assets |
38.325 |
40.317 |
42.272 |
|
|
|
|
|
|
2. Other Current Liabilities (Other than bank borrowings) |
20.000 |
18.500 |
18.000 |
|
|
|
|
|
|
3. Working Capital Gap (WCG) (1-2) |
18.325 |
21.817 |
24.272 |
|
|
|
|
|
|
4. Minimum stipulated net working capital i.e. 25% of WCG / 25% of
total Current assets as the case may be depending upon the method of lending
being applied (Export receivables to be excluded under both method) |
4.581 |
5.454 |
6.068 |
|
|
|
|
|
|
5. Actual / Projected net working capital |
9.825 |
13.317 |
15.772 |
|
|
|
|
|
|
6. Item 3 minus item 4 |
13.744 |
16.363 |
18.204 |
|
|
|
|
|
|
7. Item 3 minus item 5 |
8.500 |
8.500 |
8.500 |
|
|
|
|
|
|
8. Maximum permissible bank finance (item 6 or 7 whichever is lower) |
8.500 |
8.500 |
8.500 |
|
|
|
|
|
|
9. Excess borrowings representing short fall in NWC (4-5) |
Nil |
Nil |
Nil |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT OF IMMOVABLE PROPERTY
PART-
I (QUESTIONNAIRE)
|
GENERAL |
|
|
Purpose for which Valuation made |
To assess the Fair Market Value for the purpose of availing credit
facility from Corporaiton Bank, Vile Parle (East) Branch |
|
|
|
|
Date on which visit made |
13th January 2011 |
|
|
|
|
Name of the owner/ owners |
Mrs. Urmila Ramesh Dadhia |
|
|
|
|
If the property is under joint ownership co-ownership, share of each
owner, Is the share undivided |
Self Ownership Share Certificate No. 13 dated 28.08.1999 Distinctive No. 61 to 65 |
|
|
|
|
Brief description of the property |
The said property consists of Residential premises property used as
commercial (Office) on 3rd Floor, Flat No. 302/B, Jamuna Dharshan
Co. Operative Housing Society Limited |
|
|
|
|
Location, Street, Ward No. |
At 776, Dr. N.R. Karode Marg, Off |
|
|
|
|
Survey/ Plot No. of Land |
Original Plot No. 446, Final Plot No. 750 and 752 of |
|
|
|
|
If the property situated in residential/ Commercial / mixed/
industrial area |
Mixed Area located at less than 1 km. Distance form Borivali Railway
Station (W) |
|
|
|
|
Classification of locality – high class/ middle class/ poor class |
Higher Middle Class |
|
|
|
|
Proximity to civic amenities like schools office, hospitals, markets,
cinemas etc. |
Available at about 0.5 to 1 km distance |
|
|
|
|
Means and proximity to surface communication by which the locality is
served |
Autos, Buses, Taxis and suburban railway service available. |
|
|
|
|
LAND |
|
|
Are of land supported by documentary |
Residential premises used as commercial (office) premises at Flat No.
302/B, on 3rd Floor, Admeasuring Carpet Area 506 sq.ft. (actual)
and built up area 658 sq.ft. as per my opinion and built up area 615 sq.ft.
and parking space as per agreement. |
|
|
|
|
Is it freehold or lease land |
|
|
|
|
|
Does the land fall in area included in town planning scheme or any
development of Government of any statutory body? If so, give particulars |
Falls within limits of MCGM Taluka – Borivali |
|
|
|
|
Attach a dimensional site plan |
With agreement copy dated 25.05.1984 |
|
|
|
|
IMPROVEMENTS |
|
|
Is the building owner occupied, tenant or both |
Owner occupied on 3rd Floor |
|
|
|
|
What is F.S.I. permissible and percentage actually utilized? |
Not Known. O.C. No. CE/ 4025/ BSW/ AR dated 14.12.1992 of MCGM |
|
|
|
|
RENT |
|
|
Give details of water and electricity charges if any to be borne by
the owner |
Borne by Owner/ Society |
|
|
|
|
If a pump is installed, who has to bear the cost |
Cost shared by the owner |
|
|
|
|
Who has to bear the cost of electricity for lighting of common spare
like entrance, hall stairs, passages, compounds etc. |
Maintained by society and cost borne by owner |
|
|
|
|
What is the amount of property tax? Who to bear it? Give details with
documentary proof |
Rs. 558 included in Society
Maintenance charges of Rs. 1447/ month and borne the owner |
|
|
|
|
SALES |
|
|
Give instance of sales of immovable
property in the locality on a separate sheet, including the name and address
of the property, registration no. sale price and area land sold |
The Fair Market Value of the said property is assessed from the market
survey and inquiry from Builder Estate Agents. Owner has got the commercial
licenses from MCGM for the above said premises and also he is having parking
space |
|
|
|
|
If sale instances are not available or relied upon the basis of
arriving at the land rate |
The considering the above factors the Fair Market Value of said
premises is as follows The Built up area 615 sq.ft. @ Rs. 11600/- = Rs. 7.134 Millions. Reconstruction Cost 615 sft @ Rs. 2500/- = Rs. 1.538 Millions |
|
|
|
|
COST OF
CONSTRUCTION |
|
|
Year of commencement of construction and year of completion |
Year 1984-1992 completed |
TECHNICAL
DETAILS FOR THE PREMISES
|
No of floor and height of floor |
Ground + 5 Floors having 10’ -0’ floor height |
|
|
|
|
Plinth area- floor-wise (as per is : 3861-1966) |
Residential premises used as commercial (Office) premises. At Flat No. 302/B, on 3rd Floor, Admeasuring carpet area
506 sq.ft. (actual) and built up area 658 sq.ft. as per my opinion and built up
area 615 sq.ft. and parking space as per agreement. |
|
|
|
|
Year of Construction |
1992 |
|
|
|
|
Estimated future life |
Approximately 45 years |
|
|
|
|
Types of construction – load bearing wall/ R.C.C. |
R.C.C framed structure |
|
|
|
|
Types of foundation |
R.C.C. |
|
|
|
|
Walls |
|
|
a) Basement and plinth |
9” thick brick masonry |
|
b) Super structure above |
9” thick brick masonry |
|
c) Super structure above |
9” thick brick masonry |
|
|
|
|
Partitions |
4 ˝” thick brick masonry |
|
|
|
|
Door and windows (Floor-wise) |
Wooden frame flush doors and Aluminium frame glazed windows |
|
|
|
|
Flooring (Floor-wise) |
Marble/ Spartex tiles flooring in office |
|
|
|
|
Finishing (Floor-wise) |
Sand face cement plaster externally and neeru cement plaster
internally |
|
|
|
|
Roofing and terracing |
Flat roof |
|
|
|
|
Special architectural or decorative features if any |
Not provided |
|
|
|
|
a) Internal Wiring- Surface or conduit |
Conduit Wiring |
|
b) Class of fittings |
Good Quality |
|
|
|
|
a) Sanitary installation |
WC/ Bath Room Separately Provided |
|
b) Class of fitting superior coloured/ superior white/ ordinary |
Average Quality |
|
|
|
|
Compound Wall |
Masonry wall provided with gates |
|
|
|
|
No. of lifts and capacity |
One |
|
|
|
|
Underground sump |
Provided |
|
1. Capacity |
AS per MCGM regulations |
|
2. Type of construction |
R.C.C |
|
|
|
|
Overhead Tank |
Provided |
|
1. Where Located |
On Terrace |
|
2. Capacity |
As per MCGM regulations |
|
3. Type of Construction |
R.C.C. |
|
|
|
|
Pumps No. and their horse power |
Provided of adequate capacity |
|
|
|
|
Roads and paving within the compound, approx area, type of paving |
Tile paving |
|
|
|
|
Sewage disposal/ whether connected to public sewers. If septic tanks
provided, no and capacity |
Connected to public sewer. |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
SHOWING ASSETS AND LIABILITIES NET WORTH STATEMENT
|
NAME OF THE
APPLICANT |
MR. HIMESH R
DADHIA |
|
|
|
|
NAME OF
CO-APPLICANT |
MR. BHAVESH R
DADHIA |
|
|
|
|
NAME OF THE
GUARANTOR |
MR. RAMESH J
DADHIA |
|
|
|
|
NAME OF THE
GUARANTOR |
MRS. URMILA R
DADHIA |
|
IMMOVABLE PROPERTIES |
APPLICANT |
Co-Applicant |
GUARANTOR |
GUARANTOR |
|
|
|
|
|
|
|
Address of the Property with Survey No./ Door No. etc. |
-- |
-- |
1. Rajasthan, Jaipur 2. Kandivali East, Mumbai |
1. Borivali 2. Kandivali |
|
|
|
|
|
|
|
Description: Land/ Site/ Building |
-- |
-- |
1. Residential 2. Flat, Bunglow |
1. Residential Flat 2. Residential Flat |
|
|
|
|
|
|
|
Type of Property Commercial/ residential/ agricultural |
-- |
-- |
Residential |
Residential |
|
|
|
|
|
|
|
Area/ Extent of land |
-- |
-- |
1.100% 2. 60% |
1. 100% 2. 40% |
|
|
|
|
|
|
|
Present Market/
Assessed Value |
-- |
-- |
Rs. 57.000
Millions |
Rs. 12.500
Millions |
|
INVESTMENT IN
BUSINESS CAPITAL |
||||
|
Name of the company/ firm/ concern in which investment is made |
ESSEF LAMINATES |
-- |
-- |
-- |
|
|
|
|
|
|
|
PRESENT VALUE OF
INVESTMENT |
Rs. 10.500
Million |
|
|
|
|
DEPOSITS HELD
WITH BANKS/ COMPANIES/ OTHER LENDER ETC. |
||||
|
Name of the Bank/ company where deposits are held |
-- |
Synthiko Foils Limited |
Synthiko Foils Limited |
Synthiko Foils Limited |
|
|
|
|
|
|
|
Nature of Deposits |
-- |
Loans and Advances |
Loans and Advances |
-- |
|
|
|
|
|
|
|
PRESENT VALUE OF
DEPOSITS |
-- |
Rs. 2.522
Millions |
Rs. 3.413
Millions |
-- |
|
SHARES/
DEBENTURES/ MUTUAL FUNDS/ UNITS ETC. |
||||
|
Description |
-- |
Equity Share of Synthiko Foils Limited |
Equity Share of Synthiko Foils Limited |
-- |
|
|
|
|
|
|
|
Face Value |
-- |
Rs. 0.554 Million |
Rs. 1.115 Million |
-- |
|
|
|
|
|
|
|
PRESENT VALUE |
-- |
RS. 1.500 |
RS. 3.000
MILLIONS |
|
|
OTHER ASSETS |
||||
|
Furniture and Fixture |
Rs. 0.200 Million |
Rs. 0.100 Million |
Rs. 0.200 Million |
Rs. 0.050 Million |
|
|
|
|
|
|
|
Cash in Hand |
-- |
-- |
-- |
Rs. 0.150 Million |
|
|
|
|
|
|
|
Jewellery |
Rs. 2.000 Millions |
0.300 Million |
0.350 Million |
Rs. 0.650 Million |
|
|
|
|
|
|
|
Other Asset if any (Specify) Unaudited loans and advance interested |
Rs. 0.300 Million |
Rs. 0.200 Million |
Rs. 0.200 Million |
Rs. 0.100 Million |
|
|
|
|
|
|
|
Total Value of other
assets |
Rs. 2.500
Millions |
Rs. 0.600
Million |
Rs. 0.750
Million |
Rs. 0.950
Million |
|
|
|
|
|
|
|
TOTAL ASSETS |
RS. 13.000
MILLIONS |
RS. 4.622
MILLIONS |
RS. 58.463
MILLIONS |
RS. 13.450
MILLIONS |
|
LIABILITIES |
||||
|
Name of the Bank/ Institution |
-- |
-- |
Corporation Bank (Vile Parle) |
Corporation Bank (Vile Parle) |
|
|
|
|
|
|
|
Nature/ Type of Loan |
-- |
-- |
Housing Loan |
Housing Loan |
|
|
|
|
|
|
|
Amount of Loan availed |
-- |
-- |
Rs. 3.000 Millions |
Rs. 2.400 Millions |
|
|
|
|
|
|
|
Security offered if any |
-- |
-- |
Residential Flat |
Residential Flat |
|
|
|
|
|
|
|
AMOUNT
OUTSTANDING |
-- |
-- |
RS. 2.850
MILLIONS |
RS. 1.900
MILLIONS |
|
|
|
|
|
|
|
NET WORTH |
RS. 13.000
MILLIONS |
RS. 4.622
MILLIONS |
RS. 55.613
MILLIONS |
RS. 11.550
MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
Trade References:
·
Medico Remedies Private
Limited
Contact Person: Mr. Haresh ( 91-932227737)
·
Hindalco Industries
Limited
Contact Person: Mr. Gerald (91-9702036502)
·
Richy Gold International
Contact Person: Mr. Manish (91-9821540157)
·
Surya Old
Contact Person: Mr. Shuram (91-9323785923)
Fixed Assets:
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
Motor Vehicles
·
Loose Tools/ Cylinder
·
Office Equipments
·
Personal Assets
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.48 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.42 |
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 |
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 |
|
- |
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.