%20PRIVATE%20LIMITED%20-139489%2026-Apr-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
26.04.2011 |
IDENTIFICATION DETAILS
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Name : |
MASTER THREADS ( |
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Registered
Office : |
2-B/G-1, Green Meadows, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.11.1990 |
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Com. Reg. No.: |
059245 |
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CIN No.: [Company Identification
No.] |
U17297MH1990PTC059245 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Span Polyester Yarn, Cotton Yarn, Nylon Thread, Twines etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 12000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. The profit and loss of the company is not available. |
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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Vivek Kabra |
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Designation : |
Director |
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Contact No.: |
91-9820007457 |
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Date : |
18.04.2011 |
LOCATIONS
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Registered Office/ Factory : |
2-B/G-1, Green Meadows, |
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Tel. No.: |
91-22-29652309/28878000 |
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Mobile No.: |
91-9820007457 (Mr. Vivek Kabra) |
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Fax No.: |
91-22-29658475 |
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E-Mail : |
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Website : |
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Area : |
1500 sq. ft. (Owned) |
DIRECTORS
As on 27.09.2010
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Name : |
Mr. Pawan Madanlal Kabra |
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Designation : |
Director |
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Address : |
2-B/G-1, Green Meadows, |
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Date of Birth/Age : |
03.04.1958 |
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Date of Appointment : |
13.11.1990 |
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Name : |
Mr. Vivek Pawan Kabra |
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Designation : |
Director |
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Address : |
2-B/G-1, Green Meadows, |
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Date of Appointment : |
22.09.2003 |
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Name : |
Ms. Usha Baheti |
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Designation : |
Director |
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Address : |
2-B/G-1, Green Meadows, |
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Date of Appointment : |
29.09.1995 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
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Names of Shareholders |
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No. of Shares |
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Pawan Madanlal Kabra |
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27285 |
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Vivek Pawan Kabra |
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27125 |
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Usha Baheti |
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27124 |
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C.L. Kabra |
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2600 |
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Ram Prasad K |
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2600 |
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Manju Kabra |
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2600 |
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Total |
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89334 |
As on 27.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Span Polyester Yarn, Cotton Yarn, Nylon Thread, Twines etc. |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
26 (Approximately) |
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Bankers : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Uttam Abuwala and Company Chartered Accountant |
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Address : |
Abuwala House, 409/410, Gundecha Industrial Complex, |
CAPITAL STRUCTURE
As on 27.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.100/- each |
Rs.40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
89334 |
Equity Shares |
Rs.100/- each |
Rs.8.933
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.933 |
7.357 |
7.357 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.187 |
0.030 |
0.030 |
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4] (Accumulated Losses) |
(5.940) |
(6.501) |
(7.279) |
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NETWORTH |
3.180 |
0.886 |
0.108 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
1.986 |
1.244 |
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TOTAL BORROWING |
0.000 |
1.986 |
1.244 |
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DEFERRED TAX LIABILITIES |
0.155 |
0.000 |
0.000 |
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TOTAL |
3.335 |
2.872 |
1.352 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.420 |
1.617 |
1.843 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.001 |
0.001 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.530
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1.113 |
0.578 |
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Sundry Debtors |
3.626
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0.803 |
0.878 |
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Cash & Bank Balances |
0.090
|
0.066 |
0.015 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.186
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0.186 |
0.186 |
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Total
Current Assets |
4.432
|
2.168 |
1.657 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
2.517
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0.914 |
2.149 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
2.517
|
0.914 |
2.149 |
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Net Current Assets |
1.915
|
1.254 |
(0.492) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.335 |
2.872 |
1.352 |
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%20PRIVATE%20LIMITED%20-139489%2026-Apr-2011_files/image003.gif){kind=small}
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Particulars |
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31.03.2011 |
31.03.2010 |
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Sales Turnover (Approximately) |
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7.800 (sales decrease
due to marketing fluctuation) |
25.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.79
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3.27 |
31.42 |
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Current Ratio (Current Asset/Current Liability) |
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1.76
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2.37 |
0.77 |
LOCAL AGENCY FURTHER INFORMATION
Note: The
registered office of the company has been shifted from K-121 Ansa Industrial
Estate,
Bankers Charges
Report as per Registry
|
Name of the company |
MASTER THREADS ( |
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Presented By |
Central Bank of |
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1) Date and description of instrument creating the change |
Agreement of
hypothecation to secure demand cash credit against goods dated 23rd
December, 1998. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.3.000 Millions
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All tangible movable
property such as products, stock in trade and goods, of the borrowers which
now or hereafter from time to time during the security shall be brought in
stored or be, in or about the premises, warehouses or any where else or
godowns of the borrowers in grey and dyed yarn polyester and cot and finished
goods i.e. sewing threads packing plastic cops and tubes. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest 4% p.a.
Minimum @ 17.85% p.a. Margin 25% |
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5) Name and Address and description of the person entitled to the charge. |
Central Bank of |
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6) Date and brief description of instrument modifying the charge |
Dated 13.04.2000. Agreement of the
hypothecation to secure demand cash credit against goods. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
I) The original
charge created on 23.12.1998 for Rs.3.000 millions was modified on 15.02.1999
for Rs.3.000 millions against the security of equitable mortgage. II) By the
present modification, the bank having at the request of the borrower has
further increased the cash credit limit upto Rs.4.500 millions Against
hypothecation of all tangible movable property such as products stock in
trade and goods of the borrowers which now or hereafter from time to time
during the security shall brought in, stored or be in or about the premises,
warehouses or any where else or godowns of the borrower. Compound interest
at rate of 16.83% over the bank subject to a minimum of 16.83% p.a. at such
other rate as may from time to time be fixed by the banks. |
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.44.45 |
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|
1 |
Rs.73.35 |
|
Euro |
1 |
Rs.64.78 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
28 |
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 |
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.