Business
information report
1. Summary Information
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Country |
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Company Name |
BILIGIRI GRANITES
PRIVATE LIMITED |
Principal Name 1 |
Mr. V. Anantha
Kumar |
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Status |
Moderate |
Principal Name 2 |
Mr. A. Srigiri |
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|
Registration # |
08 -16325 |
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Street Address |
120, Hoodi
Apartment, |
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Established Date |
29.09.1994 |
SIC Code |
-- |
|
Telephone# |
91-80-22259702 |
Business Style 1 |
Manufacturer and Exporter of Granite Block and Tiles |
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Fax # |
91-80-22259704 |
Business Style 2 |
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|
Homepage |
Product Name 1 |
Granite Monuments |
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|
# of employees |
30 Approximately |
Product Name 2 |
Markers |
|
Paid up capital |
8000000 |
Product Name 3 |
Private
Mausoleums |
|
Shareholders |
Directors or relatives of directors 65.00% |
Banking |
Canara Bank |
|
Public Limited Corp. |
-- |
Business Period |
17 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
B (36) |
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Related
Company |
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Relation
– Associates |
Country
– |
Company
Name |
Biligiri Granites
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Note |
- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
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|
Current Assets |
4,916,000 |
Current Liabilities |
2,285,000 |
|
Inventories |
2,978,000 |
Long-term Liabilities |
7,283,000 |
|
Fixed Assets |
10,558,000 |
Other Liabilities |
767,000 |
|
Deferred Assets |
0 |
Total Liabilities |
10,335,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
3,000,000 |
|
|
|
Net Worth |
8,117,000 |
|
Total Assets |
18,452,000 |
Total Liab. & Equity |
18,452,000 |
|
Total Assets (Previous Year) |
18,895,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
16,028,000 |
Net Profit |
554,000 |
|
Sales(Previous yr) |
12,757,000 |
Net Profit(Prev.yr) |
331,000 |
MIRA
INFORM REPORT
|
Report Date : |
30.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
BILIGIRI GRANITES
PRIVATE LIMITED |
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Registered Office : |
120, Hoodi
Apartment, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
29.09.1994 |
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Com. Reg. No.: |
08 -16325 |
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CIN No.: [Company
Identification No.] |
U14102KA1994PTC016325 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRB01546G |
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PAN No.: [Permanent
Account No.] |
AABCB5844K |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business : |
Manufacturer and
Exporter of Granite Block and Tiles |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 32468 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company’s
profitability is low. The company has good amount of accumulated losses.
Trade relations are reported as fair. Payments are reported to be slow but
correct. The company can be considered for business dealing with slight
caution, initially. |
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) |
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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 DECLINED BY
|
Name : |
Mr. Guruprasad |
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Designation : |
Purchase Manager |
LOCATIONS
|
Registered
Office : |
120, Hoodi
Apartment, |
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Tel. No.: |
91-80-22259702 |
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Fax No.: |
91-80-22259704 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. |
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Location : |
Rented |
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Factory : |
9th
KM, |
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Tel. No.: |
91-8226-230033/34/222113/722113 91-821-2543847 |
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Fax No.: |
91-8226-230073/222252/722252 |
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Area : |
25000 sq. ft. |
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Location : |
Owned |
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Overseas
Office: |
BG Granites Inc., 39372, Drakeway, |
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Tel. No.: |
510 795 7630 |
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Fax No.: |
510 795 7621 |
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E-Mail : |
DIRECTORS
AS ON 23.09.2010
|
Name
|
Mr. V. Anantha
Kumar |
|
Designation |
Managing Director
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|
Address : |
B R |
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Date of Birth/Age : |
14.10.1944 |
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Qualification |
S. S. L. C. ,
Diploma |
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Address |
“Biligiri”, |
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Date of
Appointment |
29.09.1994 |
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Profile |
His dedication and
hardwork paved way to the growth of the company, which resulted in the
constitution of an exclusive monuments manufacturing unit in 1994. |
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|
Name |
Mr. A. Srigiri |
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Designation |
Director |
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Address : |
B R |
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Date of Birth/Age : |
15.07.1976 |
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Qualification |
MBA |
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Address |
“Biligiri”, |
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Date of
Appointment |
02.02.1997 |
|
Profile |
He holds a Masters
degree in International Business Management from |
KEY EXECUTIVES
|
Name : |
Mrs. Shilpa Anand
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Designation : |
President BG
Granites Inc., |
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Profile : |
Since the establishment
of BG Granites Inc, Mrs. Shilpa Anand is concentrating on developing the
business in the |
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Name : |
Mr. Anand
Vidyanand |
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Designation : |
Treasurer BG
Granites, Inc., |
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Profile : |
Mr. Anand is the
key person to establish BG Granites in |
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Name : |
Mr. K. Rajshekar |
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Designation : |
Company Secretary |
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Address: |
Bhavani, 104, 1st
Floor, 4th Main, 10th Cross, Malleswaram, |
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Tel No.: |
91-80-2344 3712 |
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Fax No.: |
91-80-2356 3321 |
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Mobile No.: |
91-98440 43712 |
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E mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2010
|
Names
of Shareholders |
No. of shares |
|
|
|
|
B Sekar |
14000 |
|
V Anantha Kumar |
17900 |
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S R Kumar |
14000 |
|
A Srigiri |
100 |
|
Jayaram K
Beladkere |
10000 |
|
V Revathi |
24000 |
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Total |
80000 |
AS ON 23.09.2010
|
Category |
Percentage |
|
Directors or
relatives of directors |
65.00 |
|
Other top fifty shareholders |
35.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of
Business : |
Manufacturer and
Exporter of Granite Block and Tiles |
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Products : |
Ř
Granite
Monuments Ř
Memorials Ř
Markers Ř
Private
Mausoleums Ř
Blocks Ř
Tiles
Slabs |
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Exports : |
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Products : |
Granites and
Marbles Articles |
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Countries : |
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Imports : |
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Products : |
Consumer Wealth |
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Countries : |
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Terms : |
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Selling : |
L/C or Credit
(60-90 days) terms, Advance |
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Purchasing : |
Cash or Credit
(60 days) terms, Advance/ DA |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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Suppliers : |
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No. of Employees
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30 Approximately |
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Bankers : |
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Facilities : |
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Banking Relations : |
–--- |
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Auditors : |
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Name 1 : |
Nagarajan and Company Chartered Account |
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Address : |
10
Trust Complex, 3rd Floor, |
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Tel. No.: |
91-80-25323245 |
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Associates : |
Name: Biligiri
Granites Address: 120,
Hoodi Apartment, Line of Business:
Manufacturer and Exporter of Granite Block and Tiles |
CAPITAL STRUCTURE
AS ON 23.09.2010
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity shares |
Rs.100/- each |
Rs. 10.000 millions |
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Issued, Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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|
80000 |
Equity shares |
Rs.100/-
each |
Rs. 8.000
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
8.000 |
8.000 |
8.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.000 |
3.000 |
3.000 |
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4] (Accumulated Losses) |
(2.883) |
(3.477) |
(3.843) |
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NETWORTH |
8.117 |
7.523 |
7.157 |
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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 |
7.283 |
9.128 |
9.128 |
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TOTAL BORROWING |
7.283 |
9.128 |
9.128 |
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DEFERRED TAX LIABILITIES |
0.767 |
0.807 |
0.851 |
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TOTAL |
16.167 |
17.458 |
17.136 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.558 |
9.363 |
10.715 |
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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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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.978 |
2.550 |
3.031 |
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Sundry Debtors |
0.000 |
0.000 |
0.000 |
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Deposits |
0.000 |
1.620 |
1.620 |
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Cash & Bank Balances |
2.104 |
1.117 |
1.199 |
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Other Current Assets |
1.763 |
0.079 |
0.080 |
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Loans & Advances |
1.049 |
4.166 |
2.024 |
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Total
Current Assets |
7.894
|
9.532
|
7.954 |
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
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Sundry Creditors |
1.369 |
1.270 |
1.447 |
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Current Liabilities |
0.916 |
0.167 |
0.086 |
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Provisions |
0.000
|
0.000
|
0.000
|
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Total
Current Liabilities |
2.285 |
1.437 |
1.533 |
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Net Current Assets |
5.609 |
8.095 |
6.421 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.167 |
17.458 |
17.136 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Sales |
16.028 |
12.757 |
8.284 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL (A) |
16.028 |
12.757 |
8.284 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
15.474 |
12.426 |
8.007 |
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Advertising Expenses |
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TOTAL (B) |
15.474 |
12.426 |
8.007 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.554 |
0.331 |
0.277 |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.554 |
0.331 |
0.277 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
0.554 |
0.331 |
0.277 |
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Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
0.554 |
0.331 |
0.277 |
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EARNINGS IN
FOREIGN CURRENCY |
16.521 |
12.437 |
7.984 |
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Earnings Per Share
(Rs.) |
7.41 |
4.58 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.45
|
2.59
|
3.34
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.00
|
1.75
|
1.48
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.04
|
0.04
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Debt Equity Ratio (Total Liability/Networth) |
|
1.27
|
1.40
|
1.49
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Current Ratio (Current Asset/Current Liability) |
|
3.45
|
6.63
|
5.19
|
LOCAL AGENCY FURTHER INFORMATION
HISTORY:
The subject company
is a 100% EOU. Awarded Gold Medal for Export Promotion and Quality Management
by Government of Karnataka.
Its products
include dimensional blocks, slabs, markers, furniture, innovatively and
exclusively designed monuments, memorials and architectural pieces in a wide
range of colors. Catering to the market demand, it also manufactures finished
granite products.
OPERATIONS:
The company has
achieved a turnover of RS. 16.002 millions as against the previous year
turnover of Rs. 12.710 millions, resulting in a profit of Rs. 0.554 millions
FORM 8:-
|
Name of the company |
BILIGIRI GRANTIES PRIVATE LIMITED Registered Office : 120,
Hoodi Apartment, |
|
Presented By |
BILIGIRI GRANTIES PRIVATE LIMITED Registered Office : 120,
Hoodi Apartment, |
|
1) Date and
description of instrument creating the change |
Date : 18.06.1996 Letter of
undertaking re : Loans Deed of
hypothecation re : machinery Letter evidencing
deposit of title deeds |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.8.000 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 |
Land, Building
and Machinery items. Date : 18.06.1996 |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Hypothecation of machinery and equitable mortgage of land and
building. |
|
5) Name and
Address and description of the person entitled to the charge. |
Canara Bank, B R |
TRADE REFERENCES:
- BG Granites Inc,
- Allied Granites Midulster,
- Diamond
FIXED ASSETS:
- Building
- Plant and Machinery
- Electrical Installation
- Office Equipment
- Furniture and Fixtures
- Machinery - WIP
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.44.38 |
|
|
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
36 |
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 |
|
-- |
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.