BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
CAUVERY STONES IMPEX PRIVATE LIMITED |
Principal Name 1 |
MRS. ASAITHAMBI SEETHALAKSHMI |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. RAMADOSS GOVINDARAJ |
|
|
|
Registration # |
18-052601 |
|
Street Address |
NO.8, SECOND STREET, GANAPATHY COLONY, GOPALAPURAM, CHENNAI – 600 086,
TAMILNADU |
||
|
Established Date |
24.02.2004 |
SIC Code |
-- |
|
Telephone# |
91-44-28115190 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
91-44-28117338 |
Business Style 2 |
EXPORTER |
|
Homepage |
Product Name 1 |
GRANITES |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.4,910,000/- |
Product Name 3 |
-- |
|
Shareholders |
DIRECTORS
OR RELATIVES OF DIRECTORS – 100% |
Banking |
INDIAN OVERSEAS BANK |
|
Public Limited Corp. |
NO |
Business Period |
6 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
97,953,000
|
Current Liabilities |
17,331,000
|
|
Inventories |
29,459,000
|
Long-term Liabilities |
23,784,000 |
|
Fixed Assets |
53,923,000 |
Other Liabilities |
3,802,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
44,917,000 |
|
Invest& other Assets |
47,000 |
Retained Earnings |
131,555,000 |
|
|
|
Net Worth |
136,465,000 |
|
Total Assets |
181,382,000 |
Total Liab. & Equity |
181,382,000 |
|
Total Assets (Previous Year) |
143,396,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
146,910,000 |
Net Profit |
41,440,000 |
|
Sales(Previous yr) |
156,475,000 |
Net Profit(Prev.yr) |
10,233,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
CAUVERY STONES IMPEX PRIVATE LIMITED |
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Registered Office : |
No.8, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
24.02.2004 |
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|
|
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Com. Reg. No.: |
18-052601 |
|
|
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|
CIN No.: [Company
Identification No.] |
U26960TN2004PTC052601 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEC05578G |
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|
|
PAN No.: [Permanent
Account No.] |
AACCC3310J |
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TIN No.: |
33860721347 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
100% E O U – Manufacturer and Exporter of Granites
in various forms as monuments. Slabs, Tiles, Blocks etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 546000 |
|
|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
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 |
LOCATIONS
|
Registered Office : |
No.8, |
|
Tel. No.: |
91-44-28115190 (10
lines) / 28111636 / 28351283 / 28117338 |
|
Fax No.: |
91-44-28117338 /
28111636/ 28110859 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
|
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Head Office : |
76 and 78, |
|
Tel. No.: |
91-44-28115190 (10
lines) |
|
Fax No.: |
91-44-28117338 / 2
/ 28111636 |
|
E-Mail : |
|
|
|
|
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Factory 1 : |
Venkateswarapuram H/O , Velavadi, M. Kothur Post 517 590 |
|
Tel. No.: |
91-8577-234541, 35447 |
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Fax No.: |
91-8577-271537 |
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E-Mail : |
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Factory 2 : |
Injambakkam, Chennai – 600 041, |
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Factory 3 : |
Old |
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Tel. No.: |
91-4114-474210 |
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Factory 4 : |
349, Circle Thottam, Near |
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|
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Branches : |
Hoodi Apartments, 120, |
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Tel. No.: |
91-80-22257824 |
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Fax No.: |
91-80-22259704 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mrs. Asaithambi Seethalakshmi |
|
Designation : |
Director |
|
Address : |
28, |
|
Date of Birth/Age : |
22.08.1952 |
|
Date of Appointment : |
24.02.2004 |
|
DIN No.: |
00050784 |
|
|
|
|
Name : |
Mr. Ramadoss Govindaraj |
|
Designation : |
Director |
|
Address : |
49, Workers Estate, Neelangarai, Chennai – 600 041, |
|
Date of Birth/Age : |
07.01.1953 |
|
Date of Appointment : |
31.01.2005 |
|
DIN No.: |
00112647 |
KEY EXECUTIVES
|
Name : |
R. Ghuna Shekaran |
|
Designation : |
Practising Company Secretary |
|
Address : |
F-3, Subramanian Flat, New No.9, |
|
Tel. No.: |
91-44-24472608 |
|
E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
A.
Seethalakshmi |
|
127400 |
|
K. Panneerselvam |
|
1000 |
|
V. Veeramani Raji |
|
127400 |
|
S. Sekar Latha |
|
117600 |
|
K. Kumar Vedavalli |
|
117600 |
|
Total
|
|
491000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
100% E O U – Manufacturer and Exporter of Granites
in various forms as monuments. Slabs, Tiles, Blocks etc |
|
|
|
|
Products : |
|
PRODUCTION STATUS (31.03.2010)
|
Particulars |
Actual
Production |
|
Monuments |
30998 PCS |
|
Sintering – Abrasives |
105679 NOS |
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GENERAL INFORMATION
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Suppliers : |
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Customers : |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Sundaram Finance
Limited, No. 21, |
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|
|
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Auditors : |
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|
Name : |
Vijay
Sarathy and Company Chartered
Accountants |
|
Address : |
|
|
Tel. No.: |
91-44-28153830
/ 28152948 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
491000 |
Equity Shares |
Rs.10/- each |
Rs.4.910
millions |
|
|
|
|
|
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] Share Capital |
4.910 |
4.910 |
4.910 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
131.555 |
90.116 |
79.883 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
136.465 |
95.026 |
84.793 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.116 |
|
|
2] Unsecured Loans |
23.784 |
29.354 |
34.854 |
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|
TOTAL BORROWING |
23.784 |
29.354 |
34.970 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
TOTAL |
160.249 |
124.380 |
119.763 |
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|
|
|
|
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APPLICATION OF FUNDS |
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|
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|
|
|
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FIXED ASSETS [Net Block] |
53.923 |
56.135 |
57.199 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
29.459
|
7.980
|
25.578
|
|
|
Sundry Debtors |
86.608
|
66.389
|
42.267
|
|
|
Cash & Bank Balances |
1.402
|
1.453
|
1.434
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
9.943
|
11.380
|
7.924
|
|
Total
Current Assets |
127.412
|
87.202
|
77.203 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors & Other Current Liabilities |
17.331
|
14.794
|
11.299
|
|
|
Provisions |
3.802
|
4.222
|
3.411
|
|
Total
Current Liabilities |
21.133
|
19.016
|
14.710
|
|
|
Net Current Assets |
106.279
|
68.186
|
62.493
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.047 |
0.059 |
0.071 |
|
|
|
|
|
|
|
|
TOTAL |
160.249 |
124.380 |
119.763 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
146.910 |
156.475 |
126.222 |
|
|
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Other Income |
1.283 |
3.617 |
3.441 |
|
|
|
TOTAL (A) |
148.193 |
160.092 |
129.663 |
|
|
|
|
|
|
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Less |
|
|
|
|
|
|
|
|
Office Expenses |
99.332 |
142.955 |
99.675 |
|
|
|
Administrative Expenses |
|
|
|
|
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|
Advertising Expenses |
|
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|
|
|
|
TOTAL (B) |
99.332 |
142.955 |
99.675 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
48.861 |
17.137 |
29.988 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
0.552 |
0.484 |
0.701 |
|
|
|
|
|
|
|
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|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
48.309 |
16.653 |
29.287 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.701 |
5.610 |
5.104 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
42.608 |
11.043 |
24.183 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.168 |
0.810 |
5.104 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
41.440 |
10.233 |
19.079 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of exported |
103.467 |
101.064 |
78.221 |
|
|
|
Under negotiation |
28.653 |
33.380 |
28.309 |
|
|
TOTAL EARNINGS |
132.120 |
134.444 |
106.530 |
|
|
|
|
|
|
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|
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|
IMPORTS |
|
|
|
|
|
|
|
Consumable for Granite Division |
5.589 |
2.638 |
4.693 |
|
|
|
Consumable for Sintering Division |
3.109 |
5.824 |
7.185 |
|
|
TOTAL IMPORTS |
8.698 |
8.462 |
11.878 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
84.40 |
20.84 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
27.96 |
6.39
|
14.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
29.00 |
7.06
|
19.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.50 |
7.70
|
17.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.12
|
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.33 |
0.51
|
0.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.03 |
4.59
|
5.25 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Name of the company |
CAUVERY STONES IMPEX PRIVATE LIMITED |
|
Presented By |
Sundaram Finance
Limited, No. 21, |
|
1) Date and description of instrument creating the change |
H. P. Agreement dated 27.05.2005 bearing H. P. Cont No. : AC – 9083 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 4.053
Millions inclusive of finance charges of Rs. 0.453 Millions |
|
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 |
On the security
of 1. No dumper machinery bearing machinery Sr. No. B2A00324 |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The total loan
amount of Rs. 4.053 Millions is repayable in 35 monthly installments as
follows The 1st
installment of Rs. 0.115 Million and rest of the 34 monthly installments of
Rs. 0.115 Million each. The 1st
loan installment falls due on 27.06.2005. |
|
5) Name and Address and description of the person entitled to the charge. |
Sundaram Finance Limited,
No. 21, Patullos Road, Chennai – 600 002, Tamilnadu, India |
|
6) Date and brief description of instrument modifying the charge |
Not Available |
|
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. |
Not Available |
FIXED ASSETS
·
Land
·
Plant and Machinery
·
Vehicles
·
Splendor Plus
·
Office Equipments
·
Work in progress
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.44.40 |
|
|
1 |
Rs.73.26 |
|
Euro |
1 |
Rs.65.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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.