MIRA
INFORM REPORT
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Report Date : |
09.08.2011 |
IDENTIFICATION DETAILS
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Name : |
BLUES CLOTHING COMPANY LIMITED |
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Formerly Known
As : |
BLUES CLOTHING COMPANY PRIVATE LIMITED |
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Registered
Office : |
G-9 N D S E, Part-I, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.08.2005 |
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Com. Reg. No.: |
55-139193 |
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Paid-up Capital
: |
Rs. 38.783 Millions |
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CIN No.: [Company Identification
No.] |
U18101DL2005PLC139193 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELB08476G |
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PAN No.: [Permanent Account No.] |
AACCB6795J |
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Legal Form : |
A closely held public limited liability company |
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Line of Business
: |
Wholesalers and Distributor of all type of suits, luxury suits,
garments, mans formal shirts, formal trousers, ready-made garments |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1200000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : |
G-9 N D S E, Part-I, |
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Tel. No.: |
91-11-24692020/24692121/46888888 |
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Fax No.: |
91-11-24692424 |
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E-Mail : |
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Website : |
DIRECTORS
As On 28.09.2010
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Name : |
Mr. Dinesh Shadi Lal Sehgal |
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Designation : |
Managing Director |
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Address : |
Form No.-
4,Sultanpur, Gadaipur,Mehrauli, |
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Date of Birth/Age : |
22.02.1963 |
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Qualification : |
Graduate |
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Experience : |
26 Years |
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Date of Appointment : |
01.08.2005 |
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DIN No.: |
00456510 |
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Name : |
Mr. Anil Om Parkash Aggarwal |
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Designation : |
Additional Director |
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Address : |
C 49, South
Extension Part I, |
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Date of Birth/Age : |
07.12.1968 |
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Date of Appointment : |
10.02.2010 |
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DIN No.: |
00479498 |
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Name : |
Mr. Nitesh Sehgal |
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Designation : |
Whole Time Director |
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Address : |
Farm No. 4,
Sultanpur, Gadaipur, |
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Date of Birth/Age : |
25.01.1987 |
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Date of Appointment : |
01.07.2010 |
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DIN No.: |
03103811 |
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Name : |
Mr. Udit Dinesh Sehgal |
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Designation : |
Whole Time Director |
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Address : |
Farm No. 4,
Sultanpur, Gadaipur, Mehrauli, |
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Date of Birth/Age : |
19.04.1988 |
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Date of Appointment : |
01.07.2010 |
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DIN No.: |
03103814 |
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Name : |
Mr. Abhay Satya Prakash Gupta |
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Designation : |
Whole Time Director |
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Address : |
Flat No. 4273
Pocket B 5 / 6, Vasant Kunj, |
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Date of Birth/Age : |
04.09.1957 |
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Qualification : |
M.B.A |
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Experience : |
30 Years |
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Date of Appointment : |
08.08.2010 |
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DIN No.: |
03180695 |
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Name : |
Mr. Harsh Sehgal |
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Designation : |
Director |
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Address : |
4, Sultanpur
Farm, Mehrauli, |
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Date of Birth/Age : |
05.02.1963 |
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Qualification : |
Graduate |
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Experience : |
26 Years |
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Date of Appointment : |
01.08.2005 |
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Date of Cessation : |
08.08.2010 |
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DIN No.: |
00457137 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 28.09.2010
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Names of Shareholders |
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No. of Shares |
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Dinesh Sehgal |
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2698129 |
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Harsh Sehgal |
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83733 |
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Nitesh Sehgal |
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5000 |
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Udit Sehgal |
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3333 |
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Blues Luxury Impex Private Limited – |
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1141945 |
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Anil Aggarwal |
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134662 |
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Arykita Trading Private Limited – |
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1 |
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Total |
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4066803 |
As On 28.09.2010
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Category |
Percentage |
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Bodies corporate |
28.08 |
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Directors or relatives of Directors |
71.92 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Wholesalers and Distributor of all type of suits, luxury suits,
garments, mans formal shirts, formal trousers, ready-made garments |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
* Amount repayable within 1 Year – Rs. 39.097 millions (previous year
Rs. 36.143 millions) ** The above term loans and working capital loans are secured by way
of consortium arrangement with all aforementioned banks with first pari passu
charges on whole of stock, book debts and other current assets, plant and
machinery, spares, tools and accessories, all other movable and fixed assets
of the company, present and future, and further guaranteed by promoter
directors and their relatives. *** Vehicles loans are secured by hypothecation on the respective
vehicle purchased.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Aggarwal and Rampal Chartered Accountant |
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Address : |
E 67 LGD Masjid Moth, Greater Kailash III, |
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Tel. No.: |
91-11-29225738/29226167/40512886/87/88/89/90 |
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Fax No.: |
91-11-41636506 |
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E-Mail : |
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Pan No.: |
AAPFA8244F |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
7000000 |
Equity Shares |
Rs. 10/- each |
Rs. 70.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
3878276 |
Equity Shares |
Rs. 10/- each |
Rs. 38.783
Millions |
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As On 28.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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7000000 |
Equity Shares |
Rs. 10/- each |
Rs. 70.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4066803 |
Equity Shares |
Rs. 10/- each |
Rs. 40.668
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
38.783 |
26.675 |
22.175 |
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2] Share Application Money |
44.877 |
72.647 |
0.000 |
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3] Reserves & Surplus |
216.696 |
123.823 |
86.289 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
300.356 |
223.145 |
108.464 |
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LOAN FUNDS |
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1] Secured Loans |
450.892 |
345.916 |
170.775 |
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2] Unsecured Loans |
65.012 |
10.000 |
0.096 |
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TOTAL BORROWING |
515.904 |
355.916 |
170.871 |
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DEFERRED TAX LIABILITIES |
3.622 |
0.833 |
0.000 |
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TOTAL |
819.882 |
579.894 |
279.335 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
183.255 |
116.924 |
45.650 |
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Capital work-in-progress |
5.765 |
4.883 |
2.564 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
1.001 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
526.375
|
362.558 |
173.211 |
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Sundry Debtors |
86.515
|
117.196 |
69.332 |
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Cash & Bank Balances |
25.519
|
19.562 |
19.751 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
148.544
|
118.987 |
66.705 |
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Total
Current Assets |
786.953
|
618.303 |
328.999 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
138.141
|
146.346 |
96.735 |
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Other Current Liabilities |
13.132
|
5.825 |
1.041 |
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Provisions |
4.818
|
8.045 |
1.197 |
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Total
Current Liabilities |
156.091
|
160.216 |
98.973 |
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Net Current Assets |
630.862
|
458.087 |
230.026 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.094 |
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TOTAL |
819.882 |
579.894 |
279.335 |
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PROFIT & LOSS
ACCOUNT
|
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
1069.971 |
683.155 |
327.201 |
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Other Income |
33.088 |
17.986 |
25.012 |
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TOTAL (A) |
1103.059 |
701.141 |
352.213 |
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Less |
EXPENSES |
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Purchases |
829.121 |
622.623 |
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Direct Expenses |
59.899 |
60.279 |
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Personnel Expenses |
36.548 |
25.962 |
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Manufacturing, Administration and Other Expenses |
165.915 |
73.930 |
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Selling and Distribution Expenses |
25.478 |
6.822 |
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Increase/Decrease in Stock |
(163.817) |
(189.348) |
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TOTAL (B) |
953.144 |
600.268 |
306.784 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
149.915 |
100.873 |
45.429 |
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Less |
FINANCIAL
EXPENSES (D) |
68.491 |
53.231 |
21.824 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
81.424 |
47.642 |
23.605 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.286 |
17.369 |
6.379 |
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PROFIT BEFORE
TAX (E-F) (G) |
50.138 |
30.273 |
17.226 |
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Less |
TAX (I) |
17.803 |
15.240 |
5.580 |
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PROFIT AFTER TAX
(G-I) (J) |
32.335 |
15.033 |
11.646 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
35.297 |
20.264 |
8.618 |
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BALANCE CARRIED
TO THE B/S |
67.632 |
35.297 |
20.264 |
|
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IMPORTS |
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Finished Goods (Purchases) |
215.982 |
232.085 |
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Capital Goods |
42.155 |
28.901 |
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TOTAL IMPORTS |
258.137 |
260.986 |
NA |
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Earnings Per
Share (Rs.) |
9.36 |
6.77 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.93
|
2.14 |
3.31 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.69
|
4.43 |
5.26 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.17
|
4.12 |
4.60 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.14 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.24
|
2.31 |
2.49 |
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Current Ratio (Current Asset/Current Liability) |
|
5.04
|
3.86 |
3.32 |
LOCAL AGENCY FURTHER INFORMATION
REGISTERED OFFICE
The Company has changed
its Registered Office from G-13, N D S E, Part 1, New Delhi-11049 to G-9, N D S
E, Part 1, New Delhi-11049 during the Financial Year.
Form 8:
|
Corporate
identity number of the company |
U18101DL2005PLC139193 |
||||||
|
Name of the
company |
BLUES CLOTHING
COMPANY LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
G-9 N D S E,
Part-I, New |
||||||
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This form is for |
Creation of
charge |
||||||
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Type of charge |
Book Debts Movable Property Floating Charge Immovable
Property First P/P Charge
On Current And Fixed Assets |
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Particular of
charge holder |
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||||||
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Nature of
instrument creating charge |
F110A Letter Of
Hypothecation, F110E Letter Of Hypothecation |
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Date of instrument
Creating the charge |
30.11.2010 |
||||||
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Amount secured by
the charge |
Rs. 10.000
Millions |
||||||
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- As Per Sanction Terms And Bank Norms Terms of Repayment
- Repayable As Per Sanction Terms And Bank Norms Margin - Margin
25% Extent and
Operation of the charge - First Pari Passu Charge On Assets is To Secure The
ADHOC Cash Credit Limit Of Rs.10.000 millions Sanctioned To The Company |