MIRA
INFORM REPORT
|
Report Date : |
17.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
METALORE OVERSEAS PRIVATE LIMITED |
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Registered
Office : |
105, Kundan Bhawan, Azadpur, Commercial Complex, |
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Country : |
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Financials (as
on) : |
30.11.2010 |
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Date of
Incorporation : |
16.10.2001 |
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Com. Reg. No.: |
55-112828 |
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CIN No.: [Company Identification
No.] |
U51909DL2001PTC112828 |
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IEC No.: |
0501042997 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELM06493E |
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PAN No.: [Permanent Account No.] |
AACCM6076H |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer and Exporter of Stainless Steel Utensils, Kitchenware,
Hotelware, Storageware, Servingware, Tableware etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject seems to be an established company in its field. The valuation
reports provided are about 3 years old. Trade relations are reported as fair.
No complaints have been heard from indirect or market sources. It would be advisable to take adequate securities while dealing with
the subject. |
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 PARTED BY
|
Name : |
Mr. Rahul Garg |
|
Designation : |
Director |
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Contact No.: |
91-9910009430 |
|
Date : |
09.02.2011 |
LOCATIONS
|
Registered Office : |
105, Kundan Bhawan, Azadpur, Commercial Complex, |
|
Tel. No.: |
91-11-47065515-16-17 |
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Mobile No.: |
91-9910009430 (Mr. Rahul Garg) |
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Fax No.: |
91-11-27670131 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
(AS ON 20.08.2010)
|
Name : |
Mr. Shyam Kumar Garg |
|
Designation : |
Managing Director |
|
Address : |
I – 18, 2nd Floor, Ashok Vihar, |
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Date of Birth/Age : |
04.07.1962 |
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Qualification : |
Graduate |
|
Experience : |
25+ years |
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Date of Appointment : |
16.10.2001 |
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Pan No.: |
ACLPG8795M |
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|
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Name : |
Mr. Rahul Garg |
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Designation : |
Director |
|
Address : |
I – 18, 2nd Floor, Ashok Vihar, |
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Date of Birth/Age : |
24.05.1985 |
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Qualification : |
MBA |
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Experience : |
5+ years |
|
Date of Appointment : |
02.02.2006 |
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Pan No.: |
AICPG1362P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
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Shyam Kumar Garg |
|
758900 |
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Sarita Devi Garg |
|
15000 |
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Ashok Kumar Jaysal |
|
10000 |
|
Ashok Goyal |
|
1100 |
|
Ashwani Garg |
|
13000 |
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Akshat Share Trading company Private Limited |
|
12500 |
|
Raj Rani Securities Private Limited |
|
12500 |
|
Atul Jalan Portfolio and Finance (Private) Limited |
|
12500 |
|
Mridul Securities Private Limited |
|
37500 |
|
Wizard Realcon Private Limited |
|
25000 |
|
Yoga Infotech Private Limited |
|
25000 |
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|
|
|
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Total |
|
923000 |
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
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|
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|
Shyam Kumar Garg |
|
758900 |
|
Sarita Devi Garg |
|
15000 |
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Ashok Kumar Jaysal |
|
10000 |
|
Ashok Goyal |
|
1100 |
|
Ashwani Garg |
|
13000 |
|
Rahul Garg |
|
125000 |
|
KRAC Securities Private Limited |
|
20000 |
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|
|
|
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Total |
|
943000 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
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|
|
|
|
Bodies corporate |
|
2.12 |
|
Directors or relatives of directors |
|
93.74 |
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Others |
|
4.14 |
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|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Stainless Steel Utensils, Kitchenware, Hotelware,
Storageware, Servingware, Tableware etc. |
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Terms : |
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Selling : |
Credit (150 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
06 |
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Bankers : |
· Canara Bank Parliament Street Branch, · Corporation Bank · ICICI Bank ·
Central Bank of · Punjab National Bank · HDFC Bank · Standard Chartered Bank · Barclays Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vinod Sanjeev Bindal and Company Chartered Accountant |
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Address : |
D – 219, Vivek Vihar – 1, |
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Tel. No.: |
91-11-22140162 |
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Email : |
CAPITAL STRUCTURE
(AS ON 20.08.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- each |
Rs.10.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
943000 |
Equity Share |
Rs.10/- each |
Rs.9.430
Millions |
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|
|
|
|
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
923000 |
Equity Share |
Rs.10/- each |
Rs.9.230
Millions |
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|
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.11.2010 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
9.230 |
9.230 |
7.980 |
7.600 |
|
|
2] Share Application Money |
5.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Share Premium |
23.750 |
0.000 |
0.000 |
0.000 |
|
|
4] Reserves & Surplus |
26.957 |
47.719 |
19.303 |
8.652 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
64.937 |
56.949 |
27.283 |
16.252 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
121.496 |
108.428 |
101.204 |
70.129 |
|
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2] Unsecured Loans |
10.044 |
10.352 |
9.828 |
6.621 |
|
|
TOTAL BORROWING |
131.540 |
118.780 |
111.032 |
76.750 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
196.477 |
175.729 |
138.315 |
93.002 |
|
|
|
|
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|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.316 |
3.227 |
3.587 |
2.786 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.055 |
0.006 |
0.026 |
|
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
16.927
|
38.267
|
2.348 |
4.243 |
|
|
Sundry Debtors |
182.455
|
172.081
|
122.420 |
81.238 |
|
|
Cash & Bank Balances |
1.116
|
0.797
|
0.705 |
0.763 |
|
|
Other Current Assets |
13.665
|
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.259
|
24.701
|
21.008 |
24.054 |
|
Total
Current Assets |
218.422
|
235.846 |
146.481 |
110.298 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditor |
25.246
|
59.864
|
8.973 |
18.411 |
|
|
Other Current Liabilities |
0.015
|
1.034
|
0.931 |
0.000 |
|
|
Provisions |
0.000
|
2.501
|
1.855 |
1.697 |
|
Total
Current Liabilities |
25.261
|
63.399
|
11.759 |
20.108 |
|
|
Net Current Assets |
193.161
|
172.447
|
134.722 |
90.190 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
196.477 |
175.729 |
138.315 |
93.002 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.11.2010 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
312.589 |
464.448 |
318.075 |
279.996 |
|
|
|
Other Income |
30.951 |
0.015 |
0.135 |
37.606 |
|
|
|
TOTAL (A) |
343.540 |
464.463 |
318.210 |
317.602 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Increase/ (Decrease) In Stock |
0.000 |
(35.919) |
1.895 |
17.417 |
|
|
|
Cost of Goods Sold |
317.766 |
0.000 |
0.000 |
0.000 |
|
|
|
Purchases |
0.000 |
460.622 |
296.778 |
281.743 |
|
|
|
Employees Remuneration and Other Benefits |
0.000 |
1.137 |
1.351 |
0.926 |
|
|
|
Administrative and Other Expenses |
14.241 |
10.030 |
2.847 |
2.928 |
|
|
|
Loss on Foreign Exchange Fluctuation |
00000 |
6.569 |
0.000 |
0.000 |
|
|
|
Loss on |
0.000 |
0.006 |
0.000 |
0.000 |
|
|
|
Loss on |
0.000 |
0.002 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
332.007 |
442.447 |
302.871 |
303.014 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)
(C) |
11.533 |
22.016 |
15.339 |
14.588 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.545 |
14.152 |
9.470 |
8.979 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.988 |
7.864 |
5.869 |
5.609 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.747 |
0.469 |
0.772 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.988 |
7.117 |
5.400 |
4.837 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
2.451 |
1.968 |
1.613 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
4.666 |
3.432 |
3.224 |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
11.183 |
7.751 |
4.527 |
|
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
15.849 |
11.183 |
7.751 |
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
Export Earnings |
NA |
438.321 |
276.523 |
261.592 |
|
|
TOTAL EARNINGS |
NA |
438.321 |
276.523 |
261.592 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
5 |
4 |
4 |
|
KEY RATIOS
|
PARTICULARS |
|
30.11.2010 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
1.00 |
1.08 |
1.02 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.96
|
1.53 |
1.70 |
1.73 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.35
|
2.98 |
3.60 |
4.28 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.12 |
0.20 |
0.30 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.41
|
3.20 |
4.50 |
5.96 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.65
|
3.72 |
12.46 |
5.49 |
LOCAL AGENCY FURTHER INFORMATION
STATEMENT OF PROFITABILITY
(RS.
IN MILLIONS)
|
PARTICULARS |
31.03.2011 |
31.03.2012 |
|
|
(Estimated) |
(Projected) |
|
Gross Sales |
|
|
|
Sales – Export |
500.000 |
600.000 |
|
Sales – Domestic |
100.000 |
120.000 |
|
|
|
|
|
Export Incentives |
43.255 |
50.549 |
|
|
|
|
|
Less: Excise Duty |
0.000 |
0.000 |
|
|
|
|
|
Net Sales |
643.255 |
770.549 |
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to
previous year |
27.64% |
19.79% |
|
|
|
|
|
COST OF SALES |
|
|
|
Raw Materials [Including stores and other items used in
the process of manufacture] |
|
|
|
[a] Imported |
98.000 |
117.600 |
|
[b] Indigenous |
512.769 |
617.447 |
|
|
|
|
|
Direct Cost |
8.620 |
10.657 |
|
|
|
|
|
Other Manufacturing Expenses |
0.000 |
0.000 |
|
|
|
|
|
Depreciation |
0.672 |
0.605 |
|
|
|
|
|
SUB TOTAL |
620.061 |
746.309 |
|
|
|
|
|
Add : Opening Stocks - of SIP/ F Goods |
38.267 |
48.536 |
|
|
|
|
|
Sub Total |
658.328 |
794.845 |
|
|
|
|
|
Deduct : Closing Stock of Finished Goods |
48.536 |
63.183 |
|
|
|
|
|
Total
Cost of Sales |
609.792 |
731.662 |
|
|
|
|
|
Selling, General and Administrative Expenses |
4.500 |
5.500 |
|
|
|
|
|
Sub
– Total |
614.292 |
737.162 |
|
|
|
|
|
Operating Profit Before Interest |
28.963 |
33.387 |
|
|
|
|
|
Interest |
19.000 |
21.850 |
|
|
|
|
|
Operating Profit After Interests
|
9.963 |
11.537 |
|
|
|
|
|
Profit before
tax / loss |
9.963 |
11.537 |
|
|
|
|
|
Provisions for Taxes |
2.989 |
3.461 |
|
|
|
|
|
Net Profit/Loss |
6.974 |
8.076 |
|
|
|
|
|
Retained Profit |
6.974 |
8.076 |
|
|
|
|
|
Retained
Profit/Net profit Cash accruals |
100% |
100% |
|
|
|
|
|
Cash Accruals |
7.646 |
8.681 |
|
|
0.95 |
0.95 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS.
IN MILLIONS)
|
CURRENT
LIABILITIES |
31.03.2011 |
31.03.2012 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
I] from Applicant Bank
|
200.000 |
230.000 |
|
II] From Others Banks |
0.000 |
0.000 |
|
III] (Of Which BP and BD) |
(170.000) |
(190.000) |
|
|
|
|
|
Sub – Total |
200.000 |
230.000 |
|
|
|
|
|
Short-term borrowing from other |
0.000 |
0.000 |
|
Sundry Creditor (Trade) |
25.000 |
30.000 |
|
Advance/Payment from Customers/Deposit from dealers |
0.000 |
0.000 |
|
Provision for Taxation |
2.989 |
3.461 |
|
Dividend Payable |
0.000 |
0.000 |
|
Other Statutory liabilities (due within one year) |
0.000 |
0.000 |
|
Deposits/installments of term loans/DPG debentures etc |
2.787 |
1.493 |
|
Other current liabilities and provisions (due within one year)
(specify major items) |
1.000 |
2.000 |
|
|
|
|
|
Sub-Total |
31.776 |
36.954 |
|
|
|
|
|
TOTAL CURRENT
LIABILITIES |
231.776 |
266.954 |
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
Debenture (not maturing within one year) |
0.000 |
0.000 |
|
Preference shares redeemable after one year |
0.000 |
0.000 |
|
Term loan (excluding) installments |
1.758 |
0.265 |
|
Unsecured Loans and Deposits |
4.760 |
4.760 |
|
Deferred payment credits (Excluding installments due within one year) |
0.000 |
0.000 |
|
Term deposit (repayable after one year) |
0.000 |
0.000 |
|
Other term liabilities (Unsecured Loans) |
0.000 |
0.000 |
|
|
|
|
|
TOTAL TERM
LIABILITIES |
6.518 |
5.025 |
|
|
|
|
|
TOTAL
OUTSIDE LIABILITIES |
238.294 |
271.979 |
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
Ordinary Share Capital |
9.330 |
9.480 |
|
General Reserve |
33.770 |
36.620 |
|
Revaluation Reserve |
0.000 |
0.000 |
|
Other Reserve (Capital Reserve) |
0.000 |
0.000 |
|
Surplus (+) or Deficit (-) in Profit and loss account |
22.824 |
30.899 |
|
|
|
|
|
TOTAL NET WORTH |
65.924 |
76.999 |
|
|
|
|
|
TOTAL
LIABILITIES |
304.218 |
348.978 |
|
|
|
|
|
ASSETS CURRENT
ASSETS |
|
|
|
Cash and Bank Balances |
0.670 |
0.889 |
|
|
|
|
|
Investment (other than long) term Investment |
0.000 |
0.000 |
|
|
|
|
|
I) Receivables other than deferred and exports |
|
|
|
(Including bill purchased and discounted by bankers) |
|
|
|
- Local |
18.500 |
22.500 |
|
- Export |
200.000 |
220.000 |
|
|
|
|
|
Installment of deferred receivables (Due within 1 year) |
0.000 |
0.000 |
|
|
|
|
|
Inventory: |
|
|
|
Raw Materials (including stores and other items used in the process of
manufacture) |
0.000 |
0.000 |
|
Stock-in-traders |
0.000 |
0.000 |
|
Finished Goods |
48.536 |
63.183 |
|
Advances to supplier of raw material and stores/spares |
8.500 |
10.000 |
|
Advance Payment of Tax |
0.000 |
0.000 |
|
Other current assets |
25.000 |
30.000 |
|
|
|
|
|
TOTAL CURRENT
ASSETS |
301.206 |
346.572 |
|
|
|
|
|
FIXED ASSETS |
|
|
|
Gross Block |
6.997 |
6.997 |
|
|
|
|
|
Depreciation to Date |
4.443 |
5.048 |
|
|
|
|
|
Net Block |
2.554 |
1.949 |
|
|
|
|
|
OTHER
NON-CURRENT ASSETS |
|
|
|
|
|
|
|
Investment/Book debts/adv/depo which are not current assets |
|
|
|
a) investment in subsidiary com/Affi |
0.000 |
0.000 |
|
b) Others |
0.000 |
0.000 |
|
|
|
|
|
Advance to Suppliers of capital goods and contractors |
0.000 |
0.000 |
|
Deferred receivables |
0.056 |
0.056 |
|
Others |
0.000 |
0.000 |
|
|
|
|
|
Other Investment/ Deposit Loans |
0.402 |
0.402 |
|
|
|
|
|
Non-Consumables Stores and spares |
0.000 |
0.000 |
|
|
|
|
|
Other non-current assets incldg. Dues from directors |
0.000 |
0.000 |
|
|
|
|
|
TOTAL THER
NON-CURRENT ASSETS |
0.458 |
0.458 |
|
|
|
|
|
Intangible Assets (patents, goodwill) prelim exp bad/doubtful debts
not provided for etc. |
0.000 |
0.000 |
|
|
|
|
|
TOTAL ASSETS |
304.218 |
348.978 |
|
|
|
|
|
Tangible Net Worth |
65.924 |
76.999 |
|
|
|
|
|
Net Working Capital |
69.430 |
79.618 |
|
|
|
|
|
Current ratio |
1.30 |
1.30 |
|
|
|
|
|
TOTAL OUTSIDE LIABILITIES/
TANGIBLE NET WORTH |
3.61 |
3.53 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF
CURRENT ASSETS AND CURRENT LIABILITIES
(RS
IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
(Estimated) |
(Projected) |
|
Raw Materials |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
|
|
|
|
Other consumable spares |
|
|
|
Excluding those included 1 above |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
|
|
|
|
Stock in process |
0.000 |
0.000 |
|
Months cost of production |
0.000 |
0.000 |
|
|
|
|
|
Finished goods |
48.536 |
63.183 |
|
Months cost of sales |
0.96 |
1.04 |
|
|
|
|
|
Receivable other than export and deferred
receivables [including bills purchased and discounted by bankers] |
18.500 |
22.500 |
|
Months domestic sales |
2.22 |
2.25 |
|
|
|
|
|
Export receivables [including bills
purchased and discounted by bankers] |
200.000 |
220.000 |
|
Months export sales |
4.80 |
4.40 |
|
|
|
|
|
Advances to suppliers of raw materials and stores/
spares consumable |
8.500 |
10.000 |
|
|
|
|
|
Other current Assets including cash and bank
balances and deferred receivable due within one year |
25.670 |
30.889 |
|
|
|
|
|
TOTAL CURRENT ASSETS |
301.206 |
346.572 |
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
[Other than bank borrowing for working
capital] |
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
25.000 |
30.000 |
|
Months Purchases |
0.59 |
0.59 |
|
|
|
|
|
Advances from customers |
0.000 |
0.000 |
|
|
|
|
|
Statutory Liabilities |
0.000 |
0.000 |
|
|
|
|
|
Other current liability including short term
borrowing dividend payable, installment of DPG public deposit, debentures etc
|
6.776 |
6.954 |
|
|
|
|
|
TOTAL |
31.776 |
36.954 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL RATIOS
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
Current Ratio |
1.30 |
1.30 |
|
|
|
|
|
Debts Equity Ratio |
3.61 |
3.53 |
|
|
|
|
|
Return on Net Worth |
0.11 |
0.10 |
|
|
|
|
|
Debtors Ageing Analysis |
4.36 |
3.88 |
|
|
|
|
|
Creditors Ageing Analysis |
0.53 |
0.52 |
|
|
|
|
|
Interests Conveyance Ratio |
1.56 |
1.56 |
|
|
|
|
|
Inventory Norms (Month) |
0.96 |
1.04 |
|
|
|
|
|
Turnover (Net Sales / Current Assets
(Receivable + Inventory) |
2.21 |
2.40 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF
MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
FIRST METHOD OF
LENDING |
|
|
|
|
|
|
|
Total current assets |
301.206 |
346.572 |
|
|
|
|
|
Other Current Liabilities [Other than bank borrowings] |
31.776 |
36.954 |
|
|
|
|
|
Working capital gap [WCG] |
269.430 |
309.618 |
|
|
|
|
|
Min. stipulated Net Working Capital – 25 % of total current assets other than Export Receivables |
67.358 |
77.404 |
|
|
|
|
|
Actual / Projected net working capital |
69.430 |
79.618 |
|
|
|
|
|
Item 3 minus item 4 |
202.073 |
232.213 |
|
|
|
|
|
Item 3 minus item 5 |
200.000 |
230.000 |
|
|
|
|
|
Maximum permissible bank finance [item 6 or 7, whichever is lower] |
200.000 |
230.000 |
|
|
|
|
|
Excess borrowings, if any representing shortfall in NWC |
0.000 |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSESSABLE INCOME
(RS.
IN MILLIONS)
|
Particulars |
2010-11 |
||
|
|
|
|
|
|
INCOME FROM
BUSINESS |
|
|
|
|
Net Profit as per Profit and Loss Account |
|
7.117 |
|
|
Add: deprecation as per Books to be considered separately |
0.747 |
|
|
|
Penalty for Sales Tax |
0.000 |
|
|
|
Loss on sale of fixed assets for separate consideration |
0.006 |
|
|
|
Loss on sale of Investments for separate consideration |
0.002 |
0.755 |
|
|
|
|
7.872 |
|
|
Less: depreciation allowable as per Income Tax Act. |
|
0.584 |
7.288 |
|
|
|
|
|
|
INCOME FROM
CAPITAL GAIN |
|
|
|
|
|
0.198 |
|
|
|
Less: Cost of Acquisition on 14.09.2009 |
0.200 |
(0.002) |
|
|
Short Term Capital Loss to be carried forward to next year |
|
0.002 |
Nil |
|
|
|
|
|
|
GROSS TOTAL
INCOME |
|
|
7.288 |
|
|
|
|
|
|
NET TAXABLE
INCOME |
|
|
7.288 |
|
|
|
|
|
|
Tax due to above |
2.186 |
|
|
|
Tax due u/s 115 JB as per Form No.29-B Enclosed |
1.068 |
|
|
|
|
|
|
|
|
Tax due as per A (Being Higher of A or B above) |
|
|
2.186 |
|
Add: Education Cess and Higher secondary education Cess @ 3% |
|
|
0.066 |
|
|
|
|
2.252 |
|
|
|
|
|
|
Add: Interests |
|
|
|
|
- U/s 234 B |
|
0.135 |
|
|
- U/s 234 C |
|
0.114 |
0.249 |
|
|
|
|
|
|
Tax Payable |
|
|
2.501 |
------------------------------------------------------------------------------------------------------------------------------
BACKGROUND
Subject incorporated on 16.10.2001 is engaged in the business of Export
of Utensils, Polyester Yarn, Cosmetics, Spices, Cattle Feed, Agro Commodity
etc. The company has been granted the status of “Export House” by the Honorable
Ministry of Industry and Commerce
|
Particulars |
2007-08 |
2008-09 |
2009-10 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Turnover and Other Receipts |
317.602 |
346.500 |
503.947 |
|
Net Profit after tax |
3.223 |
3.525 |
4.666 |
|
Cash Accruals |
3.995 |
3.994 |
5.413 |
|
Net Worth |
16.250 |
27.283 |
56.951 |
The company is promoted by Shri Shyam Kumar Garg. He has wide experience
of export / import and in the same line of the business from last 26 years.
During the current financial year the company has projected the turnover
of Rs.600.000 Millions. On account of increasing its activity level and adding
more items in its tally.
The company is exporting in the country like Dubai (UAE) and
THE MANAGEMENT
Mr. Shyam Kumar Garg aged about 48 years is graduate and he is engaged
in the ’trade of Export I Import from last 25 years. He is young, dynamic and
has traveled all around the world and has very close relationship with Buyers
as well as sellers. His vast experience is the main assets of the company.
He is also one of the promoter and the youngest Brother of M/s. K.S.
Oils Group. Morena (M.P.) M/s .K.S. Oils Limited is the one of the largest
edible oil manufacturers in the Country with a Market cap of Rs.21000.000
Millions and with a Turnover More than Rs.300.000 Millions.
Mr. Rahul Garg aged about 25 years is the son of Mr. Shyam Kumar Garg.
He has done his schooling from D.P.S Mathura Road and his graduation B.COM (H)
from Kirori mal college D.U. and then went on to do his Dual M.B.A from
Infinity Business School. He looks after the day to day activity of the
company.
The company well qualified staff which include Manager (Overseas),
Manager (Marketing) and Manager (Finance).
Company has its corporate office at
Company has adequate infrastructure in terms of procurement abilities of
various commodities including Utensils, administrative staff, computer system
and all modern communication facilities.
CREDIT FACILITIES
Subject presently banking with Canara Bank. The Canara Bank is the sole
banker of the company. The company enjoy the credit facilities aggregate to
Rs.142.500 Millions. The detail of existing and proposed facilities is as
under: -
|
(A) Fund Based
Limit |
Existing |
Proposed |
|
|
(Rs. in millions) |
|
|
|
|
|
|
Packing Credit |
15.000 |
30.000 |
|
Export Bill Purchased/ Discounted |
125.000 |
170.000 |
|
|
|
|
|
Sub Total (A) |
140.000 |
200.000 |
|
|
|
|
|
Sub Limit |
|
|
|
|
|
|
|
Cash Credit (Sub Limit Within Packing Credit) |
1.000 |
30.000 |
|
|
|
|
|
(B) Non fund
Based Limit |
|
|
|
|
|
|
|
ILC/ FLC (DA/ Usance 180 Days) |
2.500 |
20.000 |
|
|
|
|
|
Sub Total (B) |
|
20.000 |
PRIMARY SECURITY
1. Packing Credit: Hypothecation of Stock of RM/SFGJFG I Stock at
Various Ports/Non Negotiated Documents in Hand /advance to Suppliers/Duty
drawback and depb Receivables.
2. Cash Credit Hypothecation of Stock of RMISFGIFG/Book debts/ Stock in
Transit/advance to suppliers.
3. EBP/EBD Document to Title to goods — ECGC Policy Standard /Buyer wise
4. Letter of Credit Document to Title Deed
COLLATERAL
SECURITY
1. Equitable Mortgage of Property No.242/23 Tilak Road, Morena (M.P.) in
the name of Mrs. Santa Garg (Wife of Mr. Shyam Garg) having value Rs.8.900
Millions.
2. Equitable Mortgage of Properly at Survey No.1051 T.R. Puram Housing
Complex, Morena (M.P.) having value of Rs.35.000 Millions.
3. Equitable Mortgage of Property at House No. C-2, Plot No. 0-5
Bhamashah Marg
OTHER TERMS AND
CONDITIONS
§
PC Limit is sought as a packing credit in foreign
currency i.e. PCFC
§
Interchangeability between packing credit and EBP I
E8D of Rs.30.000 Millions.
§
Propose rate of interest 9.00% on packing credit
and EBP /EBD as the company is enjoying “Export House Status”.
§
Margin on packing credit limit is proposed 10% and
Nil on EBP IEBD AS Existing.
§
The clause of ECGC cover of EBPIEBO limit i.e. IPSG
Coverage is to be deleted as the company itself is taken cover buyer wise and
the copy of the cover is regularly submitted to the bank.
§
The cash margin on LCs is proposing 10% and Usance
period is propose 180 days.
§
100% concession on DO /Pay Order.
§
To permit the duty draw back Receivables , other
export incentive receivables, VAT Refunds, advances to suppliers and the non
negotiated export bills in drawing power for availing Packing Credit. Wherein
the company undertakes to take any kind of Policy for the same as desired by
the bank if available in the market.
§
100% direct sending of negotiated export, bills by
bank to the buyer instead of through his banker. Sending Documents to Buyers
bank in U.A.E. levy’s heavy Legalization Charges/ burden of charges on the
buyers and also take much time. It is also to be noted that ECGC permits, such
type of direct sening of bill to the buyers also RBI allows Govt. Recognized
Status holder Export Houses to follow this practice though the payments will
follow the Proper Banking Channel.
§
Foreign Exchange Rate at Par with a Maximum Diff.
of 0.2 Paisa! Dollar.
§
They are very much eligible for the Gold card of
the Bank and all its Privileges therefore Gold Card should be sanctioned to
them.
REVIEW OF THE PAST
PERFORMANCE OF THE COMPANY
§
The total turnover of the company for the year
ended 31 March 2010 was Rs.503.947 Millions, which include export turnover of
Rs.438.321 Millions, Export Intensive of Rs.39.499 Millions, and domestic
turnover of Rs.26.127 Millions. The %age rise in turnover is 45.40%.
§
During the financial year 2009-10 the main focus of
the company was to export utensils and subsequently at later stage the various
items like Polyester Yarn, Cosmetics, Spices, Cattle Feed, Agro Commodity etc
were also exported.
§
During the financial year 2009-10 the domestic
turnover of the company have been decreased to Rs.26.127 Millions against the
turnover of Rs.41.553 Millions in previous financial year as the company utilsed
all its resources to Export goods due to excess of Exports Orders in hand. In
domestic market Trading of Pluses, Rice etc.
§
During the year the net profit was recorded at
Rs.4.666 Millions as compared to Rs.3.525 Millions in Previous Year.
§
On increase of activity level of the company the
current ratio and TOL/TNW have been satisfactory.
§
Ratio Analysis of the Company is given below:
o
Current Ratio: 1.36
o
Debt Equity Ratio: 3.20
o
Return on Net Worth: .08
o
Debtor Ageing Analysis: 4.45
o
Creditor Ageing Analysis: 1.58
o
Interest Coverage Ratio: 2.02
o
Inventory Norms (Month) : 0.99
o
Assets Turnover: 2.21
PROJECTED
PERFORMANCE
The projected total turnover of the company for the year 2010-11 is
Rs.643.255 Millions, which is bifurcated as under:
·
Export Turnover Rs.500.000 Millions
·
Domestic Turnover Rs.100.000 Millions
·
Export Incentive Rs.43.255 Millions
The company at present exporting Utensils, Polyester Fabric, Cosmetics,
Spices, Cattle Feed, edible oils, Toiletries and Cosmetics. The company also
proposes to add Rice as a new Product in its Export Tally during this year. The
promoters of the company have vast experience of foreign trade. No problem in
anticipated to achieve the export turnover.
The domestic turnover of the company for the year 2010-11 has been
projected to Rs.1000.00 lees the company will import the pulses, edible oil,
Picture Tubes and sale it in domestic market. The company has the network of
customers therefore the projected turnover of domestic sale is achievable.
On proposed activity level the current ratio of the company is very much
reasonable.
The additional capital if any required by the Bankers or by the Company
Management shall be brought in by the Promoters/ Directors.
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
PART
- I
GENERAL
INFORMATION
|
Purpose of Valuation |
Fair Market Value |
|
|
|
|
|
|
Date of Valuation |
22.12.2008 |
|
|
|
|
|
|
Name of the owner and address |
Mrs. Sarita Garg R/O I-8, Ashok Vihar, Phase – I, |
|
|
|
|
|
|
Document produced for perusal |
Photocopy of sale deed |
|
|
|
|
|
|
APARTMENT
BUILDING |
|
|
|
|
|
|
|
Nature of the Apartment |
Residential |
|
|
|
|
|
|
Flat No. and Floor |
Pvt. No.C2, On First Floor (2 No. covered car parking on basement
floor) |
|
|
|
|
|
|
Name of the Apartment |
Nil |
|
|
|
|
|
|
Postal Address |
Pvt. No.C-2, Property No.5 C, Bhamashah Marg, (Opposite Kripal Bagh), |
|
|
|
|
|
|
Location |
|
|
|
T. S. No. |
Pvt No. C-2 |
|
|
Block No. |
Property No.5 C |
|
|
Ward No. |
-- |
|
|
Village / Municipality / Corporation |
Bhamashah Marg (Opposite Kripal Bagh), |
|
|
Door No. Street or Road |
|
|
|
(Pin Code) |
-- |
|
|
|
|
|
|
Description of Locality |
Residential Area |
|
|
|
|
|
|
Year of Construction |
2004-06 |
|
|
|
|
|
|
Number of Floors |
B + G + 2 |
|
|
|
|
|
|
Type of Structure |
RCC Framed structure with load bearing walls |
|
|
|
|
|
|
Number of dwelling units in the building |
24 No. Flat on property NBo.5-C |
|
|
|
|
|
|
Quality of Construction |
|
|
|
|
|
|
|
Appearance of the Building |
Good |
|
|
|
|
|
|
Maintenance of the Building |
|
|
|
|
|
|
|
Facilities available
|
Proposed |
Existing |
|
|
|
|
|
Lift |
Not Applicable |
1 No. Row |
|
Protected Water Supply |
Not Applicable |
Yes |
|
Underground Sewerage |
Not Applicable |
Yes |
|
Car Parking – Open/ Covered |
Not Applicable |
2 Nos. covered parking
in basement |
|
All aground compound Wall Existing |
Not Applicable |
7’ Height Common
|
|
Pavement is laid around the building? |
Not Applicable |
PCC Paving |
|
|
|
|
|
FLAT UNDER
VALUATION |
|
|
|
|
|
|
|
The floor in which the flat is situated |
First Floor |
|
|
|
|
|
|
Door Number of the Flat |
Pvt No C-2 |
|
|
|
|
|
|
Specification of
the flat |
Proposed |
Existing |
|
|
|
|
|
Roof |
Not Applicable |
RCC roofing |
|
Flooring |
Not Applicable |
Italian Marble |
|
Doors |
Not Applicable |
Teak Wood |
|
Windows |
Not Applicable |
Teak wood |
|
Fittings |
Not Applicable |
|
|
Floor Finishing |
Not Applicable |
Ordinary
Plaster, POP and with texture painting. |
|
|
|
|
|
How is the maintenance of the flat? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
What is the undivided area of land as per sale deed |
As per deed |
|
|
|
|
|
|
What is the plinth area of the flat |
Flat super area – 2100 sq. ft. |
|
|
|
|
|
|
What is the floor space index? |
As per approved plan |
|
|
|
|
|
|
What is the plinth area of the flat |
1500 sq. ft. |
|
|
|
|
|
|
Is it posh/ 1st Class/ Medium/ Ordinary |
Medium |
|
|
|
|
|
|
Is it being used for residential or commercial |
Residential |
|
|
|
|
|
|
Is it owner occupied or tenanted? |
Owner occupied |
|
|
|
|
|
|
If tenanted, what is the monthly |
Not Applicable |
|
|
|
|
|
|
Boundaries
of the property |
As per deed |
Actual |
|
|
|
|
|
North |
Common Passage |
Common Passage |
|
South |
Property 5-B and
Bhamashah Marg |
Property 5-B,
Bhamshah Marg |
|
East |
Block – D |
Block –D |
|
West |
Block – B |
Block – B |
|
|
|
|
|
Drawing Approval |
Within Permissible Limit. |
|
PART
– B
NOT
APPLICABLE
VALUATION
OF EXISTING FLAT
PART
– C
|
RATE |
|
|
|
|
|
Analyzing the comparable sale instances in the adjoining locality,
what is the composite rate? |
Sales instances are not readily available. |
|
|
|
|
Assuming it is a new construction, what is the adopted basic composite
rate of the flat under valuation after comparing with the specification and
other factors with the flat under comparison (Give details) |
Rs.7500 per sq. ft. |
|
|
|
|
Break – up for the above rate |
|
|
Building + Services |
@ Rs.2500 per Sq. ft. |
|
Land + Others |
@ Rs.5000 per Sq. ft. |
VALUATION
DETAILS
|
Description
|
Area (Sq. ft.) |
Rate per (Sq. ft.) |
Market Value (Rs. In Millions) |
|
|
|
|
|
|
Present Value of the Flat |
2100 |
7500 |
15.750 |
|
Cover Parking |
2 Nos. |
5 lacs each |
1.000 |
|
|
|
|
|
|
Total
Value |
|
|
16.750 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
GENERAL
DETAILS
|
Purpose for which this valuation is made |
To determine fair market value of the property for security against
Bank Loan purpose. |
|
|
|
|
|
|
Date as on which this valuation is made |
As on 11.07.2008 |
|
|
|
|
|
|
Name of the reported owner and address |
Mrs. Sarita Rani Garg W/o Mr. Shyamlal Garg Municipal Council House
No.242,23 Ward No.23, |
|
|
|
|
|
|
Brief Description of the Property |
The Property under valuation consider of a residential accommodation
at Ground Floor, First Floor, Second Floor and Third Floor Only. |
|
|
|
|
|
|
Scope of Valuation |
To determine fair market value of the property for security against
Bank Loan purpose. |
|
|
|
|
|
|
Location of the Property |
Municipal Council House 242 Mohalla Tilak Road (Jahar Singh Sharma
Wali Gali) District Morena (M.P.) |
|
|
|
|
|
|
S.F. No., T.S. No., R.S. No. |
House No.242 |
|
|
|
|
|
|
Village Block |
|
|
|
|
|
|
|
Taluk Ward District Municipality
Corporation |
Ward No.23, |
|
|
|
|
|
|
Postal Address of the Property |
Municipal Council House No.242, |
|
|
|
|
|
|
Boundaries
of the Property |
As per deed |
Actuals |
|
North |
Municipal
Council Road ( |
Municipal
Council Road ( |
|
South |
Municipal
Council Lane |
Municipal
Council Lane |
|
East |
House of Mr.
Sonaram, Babulal Haridas Mahore |
House of Mr.
Sonam Babulal etc. |
|
West |
House of Mr.
Mithanlala Agarwal |
House of Mr.
Ramprakash Valshya |
|
|
|
|
|
Assessment Number |
Receipt No.92/14/11/05 |
|
|
|
|
|
|
Receipt in the name of |
Mrs. Sarita Rani Garg W/o Mr. Shyamlala Garg |
|
|
|
|
|
|
Electricity service connection No. in the
name of |
Mrs Sarita Rani Garg ( as per information provided by owner of the
Property |
|
|
|
|
|
|
QUESTIONNAIRE |
||
|
Character of locality |
Commercial and Residential |
|
|
|
|
|
|
Classification |
Middle and Higher Class |
|
|
|
|
|
|
Development of the surrounding area |
Fully Developed |
|
|
|
|
|
|
Is the locality subjected to frequent
flooding? |
Not in their knowledge |
|
|
|
|
|
|
Feasibility to the civic amenities like
school, hospital, offices, market etc. |
Nearby Available |
|
|
|
|
|
|
Level of land with to photographical
conditions |
Level Ground |
|
|
|
|
|
|
Shape of Land |
Rectangular |
|
|
|
|
|
|
Type of use to which it can be put |
Residential |
|
|
|
|
|
|
Any restriction of usage |
As per Municipal Council of Morena and Town and Country Planning Rules
and Regulations. |
|
|
|
|
|
|
Whether Leasehold and Freehold |
Freehold |
|
|
|
|
|
|
Is it in town planning approved lay out? |
Information not provided by the owner of the property |
|
|
|
|
|
|
Is it a corner plot? |
No, intermittent property. |
|
|
|
|
|
|
Road Facilities |
Situated at Municipal council |
|
|
|
|
|
|
Water Potentialities |
Served by Municipal council water Supply as well as individual bore
well with submersible |
|
|
|
|
|
|
Underground sewerage systems |
By Sepric rank |
|
|
|
|
|
|
Commercial potentiality of the property |
Yes, at ground floor |
|
|
|
|
|
|
VALUATION
DETAILS: |
||
|
The entire assets: under valuation are divided into the following
parts. |
||
|
|
|
|
|
Part A |
Land |
|
|
Part B |
Building |
|
|
Part C |
Services |
|
|
Part D |
Miscellanies |
|
PART A – LAND
Land Value for the Property under Valuation = 1782.13 sq. ft. (As per
measurement)
@ Rs.2900 sq. ft. = Rs.5.168 Millions
PART B – BUILDING
Valuation:
1. Ground Floor – Covered area = 1640.00 sq. ft.
2. First Floor – Covered Area = 1660.00 sq. ft.
3. Second Floor = 1660.00 sq. ft.
4. Third Floor – Covered Area = Rs.1500.00 Sq. ft.
Thus Total Built up Area = 6460.00 sq. ft.
@ Rs.290/- sq. ft. (Av. Depreciated rate) = Rs.1.873 Millions
PART C – SERVICES
Overhead water tank 2 nos. at tenace and bore well with submersible
pump.
L.S. depreciation Value = Rs.0.023 Million
PART
D – MISCELLANIES
L.S depreciated value of misc. items such as
iron jal in open space of different sizes
L.S. Depreciated Value – Rs.0.008 Million
ABSTRACT VALUE
|
Description |
Value by adopting (Rs. In Millions) |
|
|
|
|
Land |
5.168 |
|
Building |
1.873 |
|
Services |
0.023 |
|
Misc. Items |
0.008 |
|
|
|
|
TOTAL |
RS.7.072 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
GENERAL
DETAILS
|
Purpose for which this valuation is made |
To determine fair market value of the property for security against
Bank Loan purpose. |
|
|
|
|
|
|
Date as on which this valuation is made |
As on 11.07.2008 |
|
|
|
|
|
|
Name of the reported owner and address |
Mr. shyam Kumar Garg S/o Late Mr. Totaramji Garg C/o T. R. Puram Housing Colony, |
|
|
|
|
|
|
Brief Description of the Property |
The Property under valuation consider of an open land (plot) only. |
|
|
|
|
|
|
Scope of Valuation |
To determine fair market value of the property for security against
Bank Loan purpose. |
|
|
|
|
|
|
Location of the Property |
Survey No.1051 (Part) T. R. Puram Housing Colony, |
|
|
|
|
|
|
S.F. No., T.S. No., R.S. No. |
Part and Survey No.1051 |
|
|
|
|
|
|
Village Block |
T. R. Puram Housing Colony, |
|
|
|
|
|
|
Taluk Ward District Municipality
Corporation |
Ward No.35, (M.P.) |
|
|
|
|
|
|
Postal Address of the Property |
Patwari Halka No.22, T. R. Puram Housing Colony, |
|
|
|
|
|
|
Boundaries
of the Property |
As per deed |
Actuals |
|
North |
Other’s Property
|
Other’s |
|
South |
Other’s Property
|
Other’s Open
land |
|
East |
Colony Road |
Colony Road |
|
West |
Other’s Property
|
Other’s
Building. |
|
|
|
|
|
QUESTIONNAIRE |
||
|
Character of locality |
Residential |
|
|
|
|
|
|
Classification |
Middle and Higher Class |
|
|
|
|
|
|
Development of the surrounding area |
Situate in a Developed Housing Colony.
|
|
|
|
|
|
|
Is the locality subjected to frequent
flooding? |
No |
|
|
|
|
|
|
Feasibility to the civic amenities like
school, hospital, offices, market etc. |
Nearby Available |
|
|
|
|
|
|
Level of land with to photographical
conditions |
Level Ground |
|
|
|
|
|
|
Shape of Land |
Rectangular |
|
|
|
|
|
|
Type of use to which it can be put |
Residential |
|
|
|
|
|
|
Any restriction of usage |
As per Municipal Council of Morena and Town and Country Planning Rules
and Regulations. |
|
|
|
|
|
|
Whether Leasehold and Freehold |
Freehold |
|
|
|
|
|
|
Is it in town planning approved lay out? |
Information not provided by the owner of the property |
|
|
|
|
|
|
Is it a corner plot? |
No, intermittent property. |
|
|
|
|
|
|
Road Facilities |
Situated at |
|
|
|
|
|
|
Underground sewerage systems |
Nil |
|
|
|
|
|
|
Commercial potentiality of the property |
Nil |
|
|
|
|
|
|
VALUATION
DETAILS: |
||
|
The entire assets: under valuation are divided into the following
parts. |
||
|
|
|
|
|
Part A |
Land |
|
|
Part B |
Building |
|
|
Part C |
Services |
|
ABSTRACT VALUE
|
Description |
Value by adopting (Rs. In Millions) |
|
|
|
|
Land |
17.718 |
|
Building |
Nil |
|
Services |
0.004 |
|
Misc. Items |
0.035 |
|
|
|
|
TOTAL |
RS.17.757 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
NOTE:
The Registered Office of the company has been shifted from A-63/1,
Wazirpur Industrial Area,
------------------------------------------------------------------------------------------------------------------------------
FORM 8:
|
Corporate
identity number of the company |
U51909DL2001PTC112828 |
|
Name of the
company |
Metalore Overseas
Private Limited |
|
Address of the
registered office or of the principal place of business in |
105 , Kundan
Bhawan, Azadpur, Commercial Complex, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Movable Property (Not being Pledge) Floating charge |
|
Particular of
charge holder |
Canara Bank Parliament Street
Branch, |
|
Nature of
instrument creating charge |
Common
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
22.11.2010 |
|
Amount secured by
the charge |
Rs.142.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
interests: Interest shall be
charged @1.50% above ongoing base rate, with a minimum of 10.00 % p. a. with monthly
rests or at such other rates as may be prescribed by the bank from time to
time. Terms of
repayment : Payable on
demand. Margin: 25% Extent and
Operation of the charge: 100% |
|
Particulars of
the property charged |
Hypothecation of
raw materials, stock in process, finished goods of utensils, pulse, edible
oil, cosmetics and such other goods belonging to the borrower and acceptable
to the Bank and all book-debts both present and future. |
|
Particulars of
the present modification |
The amount of charge
over hypothecation of stocks and book-debts including inventory belonging to
the borrower and acceptable to the Bank stands enhanced from Rs.100.000
Millions to Rs.142.500 Millions to secure following credit facilities granted
by Canara Bank to the company:- PC/PCFC - Rs.15.000 Millions, (Sub Limit OCC
- Rs.1.000 Millions) , FDB/ FBE (O) - Rs.125.000 Millions and ILC/FLC -
Rs.2.500 Millions aggregating to Rs.142.500 Millions. Other terms and
conditions remain the same. |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Motor Vehicles
· Furniture and fixtures
· Office Equipments
· Electrical Fittings
· Plant and Machinery
· Computers
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.45.45 |
|
|
1 |
Rs.72.91 |
|
Euro |
1 |
Rs.61.43 |
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.