MIRA
INFORM REPORT
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Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
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Name : |
VALIA IMPEX PRIVATE LIMITED |
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Registered
Office : |
1A / 1B, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
05.08.1985 |
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Com. Reg. No.: |
11-37040 |
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CIN No.: [Company Identification
No.] |
U51900MH1985PTC037040 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV09640B |
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PAN No.: [Permanent Account No.] |
AAACV1301L |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Dealing in Import of Metals, Chemicals, and polymers. |
RATING & COMMENTS
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MIRA’s Rating : |
A (61) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 400000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established agent for Reliance Industries Limited
and Indian Petrochemicals Corporation Limited. Directors are reported as
experienced and respectable businessmen. Their trade relations are fair.
Financial position of the company is goods. Payment6s are reported to be
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
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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 |
LOCATIONS
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Registered Office : |
1A / 1B, |
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Tel. No.: |
91-22-28082855/ 26824334/26824345/ 26824346/ 26824347 |
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Fax No.: |
91-22-28082841/ 26823662 |
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E-Mail : |
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Website : |
DIRECTORS
(AS ON 23.09.2010)
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Name : |
Mr. Bhavesh Balkrishna Valia |
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Designation : |
Director |
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Address : |
S/10, Kapole Society, |
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Date of Birth/Age : |
04.08.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
09.04.1987 |
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DIN No.: |
00404977 |
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Name : |
Mrs. Leena Bavesh Valia |
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Designation : |
Director |
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Address : |
S/10, Kapole Society, |
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Date of Birth/Age : |
16.05.1963 |
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Date of Appointment : |
05.04.2001 |
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DIN No.: |
00405154 |
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Name : |
Ms. Karishma Bhavesh Valia |
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Designation : |
Director |
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Address : |
S/10, Kapole CHS., 1st Floor, 11th N
S Road, JVPD Scheme, Ville Parle (West), Mumbai – 400049, |
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Date of Birth/Age : |
26.03.1988 |
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Date of Appointment : |
23.09.2009 |
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DIN No.: |
02339673 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 23.09.2010)
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Names of Shareholders |
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No. of Shares |
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Pushpa Balkrishna Valia |
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5100 |
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Leena Bhavesh Valia Jointly with Bhavesh Balkrishna Valia |
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2700 |
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Karishma Bhavesh Valia |
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9400 |
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Juhi Bhavesh Valia |
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5100 |
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Pushpa Balkrishna Valia Jointly with Bhavesh B. Valia |
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2700 |
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Total |
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25000 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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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 : |
Dealing in Import of Metals, Chemicals, and polymers. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
30 (Approximately) |
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Bankers : |
· State Bank of Saurasutra HDFC Bank Limited, · Vijaya Bank Andheri Branch, Alka Apartments, ·
State Bank of · HDFC Bank |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Gandhi and Shrimankar Chartered Accountants |
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Address : |
Sadhna, Ground Floor, 116, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
97.807 |
88.070 |
72.795 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
100.307 |
90.570 |
75.295 |
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LOAN FUNDS |
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1] Secured Loans |
1304.790 |
886.843 |
310.599 |
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2] Unsecured Loans |
38.490 |
45.413 |
63.616 |
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TOTAL BORROWING |
1343.280 |
932.256 |
374.215 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1443.587 |
1022.826 |
449.510 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.654 |
4.063 |
3.681 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
0.001 |
0.001 |
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DEFERREX TAX ASSETS |
0.275 |
0.053 |
0.053 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
468.269
|
526.538 |
302.553 |
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Cash & Bank Balances |
9.123
|
52.063 |
21.185 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1288.474
|
887.603 |
271.992 |
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Total
Current Assets |
1765.866
|
1466.204 |
595.730 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
301.627
|
429.334 |
140.467 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
24.581
|
18.161 |
9.488 |
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Total
Current Liabilities |
326.208
|
447.495 |
149.955 |
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Net Current Assets |
1439.658
|
1018.709 |
445.775 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1443.587 |
1022.826 |
449.510 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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TOTAL |
159.231 |
125.948 |
77.470 |
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Less |
EXPENSES |
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TOTAL |
142.310 |
101.061 |
72.048 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.921 |
24.887 |
5.422 |
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Less/ Add |
DEPRECIATION/ AMORTISATION |
1.051 |
1.062 |
1.067 |
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PROFIT BEFORE
TAX |
15.870 |
23.825 |
4.355 |
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Less |
TAX |
6.133 |
8.729 |
1.829 |
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PROFIT AFTER TAX
|
9.737 |
15.096 |
2.526 |
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Earnings Per
Share (Rs.) |
389 |
606 |
101 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
6.12
|
11.99 |
3.26 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.90
|
1.62 |
0.73 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.26 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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16.64
|
15.23 |
6.96 |
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Current Ratio (Current Asset/Current Liability) |
|
5.41
|
3.28 |
3.97 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
The company has earned gross income of Rs.159.231 Millions. The company has
earned a profit of Rs.9.737 Millions after making provision for depreciation of
Rs.1.051 Millions.
FORM 8:
|
Corporate
identity number of the company |
U51900MH1985PTC037040 |
|
Name of the
company |
VALIA IMPEX PVT
LTD |
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Address of the registered
office or of the principal place of
business in |
1A /1B |
|
This form is for |
Modification of charge |
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Type of charge |
Others: Documentary Usance Bills. |
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Particular of
charge holder |
Vijaya Bank Andheri Branch,
Alka Apartments, |
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Nature of
instrument creating charge |
Supplementary
Agreement. |
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Date of
instrument Creating the charge |
30.06.2009 |
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Amount secured by
the charge |
Rs.1500.000 Millions
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: BPLR-3.25%=9%
p.a. (Floating) sub. to RBI/H.O guidelines/ Bank's stipulation from time to
time. Flat collection
charges Rs.2000/-per bill. Normal RTGS
charges. LC advising
charges Rs.500/-per advising.\ Terms of repayment: Facility for a period of one year from the date of sanction, subject
to stipulation by the Bank from time to time. Margin: Nil Extent and Operation of the Charge: First Charge. Others: Additional penal
interest @ 2% p.a. in case of default. Subject to stipulation by the Bank
from time to time. |
|
Particulars of
the property charged |
Documentary
Usance Bills drawn on reputed companies arising out of genuine trade transaction
duly accepted by drawee having usance period of not more than 90 days
strictly drawn in terms of Irrevocable Inland LCs issued by Prime Banks in
favour of the Company. |
|
Particulars of
the present modification |
By this
modification the BD (LC) limit has been enhanced from Rs.600.000 Millions to
Rs.1500.000 Millions. The Borrower Company has secured the entire Cr. limit
by hypothecation of documentary usance bills drawn on reputed companies (End
User) arising out of genuine trade transaction duly accepted by drawee having
usance period not exceeding 90 days strictly drawn in terms of Inland LCs issued by Prime Banks in favour
of the Company. |
FIXED ASSETS
Ř Air Conditioners
Ř Electrical Fitting
Ř Typewriter
Ř Furniture and Fixture
Ř Office Equipment
Ř Motor Car
Ř Computers
Ř Computers Software
WEBSITE DETAILS:
COMPANY PROFILE
Valia Group in
1960's started at Bhavnagar Gujarat along with other family members with a unit
to manufacture bicycle chain in collaboration with a Czechoslovakian firm.
These cycle chain marked under the brand name "VELO" were market
leaders. Later on the group started its trading activities in
At present the Flagship Company i.e. subject are Del Credere
Agents (DCA) of M/s. Reliance Industries Limited (RIL), marketing and promoting
in the region of Maharashtra, Goa,
MANAGEMENT TEAM
Mr. Bhavesh B. Valia - Director
A Graduate in commerce, he was
initialized in the groups trading activity at Bombay mainly looking after Sales
and Distribution of imported Polymers, at present he is looking after the
Reliance business i.e. marketing of PE, PP and PVC in the territory along with
managing the finance of the firm. He enjoys the confidence of his buyers and
business associates.
Mrs. Leena B. Valia - Director
She is Graduate in commerce; she
was initialized in the groups trading activity looking after the Reliance
business i.e. marketing of PE, PP and PVC in the territory along with managing
the finance of the firm.
They are in the business of assisting the Polymer processing industry, based in the territory to source their major raw material requirements that is Polymers produced by the Principal M/s. Reliance Industries Limited and ensuring conduct of smooth and timely business transaction. To provide the customers with services in terms of delivery, feedbacks, financial support etc. and to actively interact with the customers and Reliance Industries Limited on the issue of developing value added products and support the customers in their goal of quality up gradation by coordinating and seeking assistance and active participation of the Product Application and Research Center (PARC) of M/s. Reliance Industries Limited.
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 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 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
61 |
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.