MIRA
INFORM REPORT
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Report Date : |
04.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
BRINTONS CARPETS ASIA PRIVATE LIMITED |
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Registered Office : |
Plot No. 414/ 415/ 416, Village Urwade, Taluka Mulshi, District Pune –
412 108, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
21.10.1997 |
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Com. Reg. No.: |
014590 |
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CIN No.: [Company
Identification No.] |
U17226PN1997PTC014590 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEB02333C |
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IEC No.: |
398048479 |
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PAN No.: [Permanent
Account No.] |
AAACB7059H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Sale of Machine made Axminister Woven Carpets and Spun Yarn |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 3078224 |
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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. There
appears a dip in the profitability of the company. However trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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. Shrikant M Deshpande |
|
Designation : |
Finance Manager |
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Contact No.: |
91-9011227400 |
|
Date : |
03.01.2011 |
LOCATIONS
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Registered Office : |
Plot No. 414/ 415/ 416, Village Urwade, Talluka Mulshi, District Pune
– 412108, Maharashtra, India |
|
Tel. No. : |
91-20-66758220/22929208/229292216/65101398 |
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Mobile No.: |
91-9011227400 (Mr. Shrikant M Deshpande) |
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Fax No.: |
91-20-22929233/ 24101396/66758233 |
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Email : |
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Website : |
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Location : |
Owned |
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Factory : |
Sant Singh Mokha’s Bungalow, 60, |
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Tel. No.: |
91-20-22929216/ 66101397 |
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Fax No.: |
91-20- 66740455 |
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E-Mail |
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Website |
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Area : |
24 Acres |
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Location : |
Owned |
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Corporate Office 2
: |
Darshan Apartments, 1/D/1, B. J. Medical College Road, Sadhu Vaswaji Path, Pune – 411 001, Maharashtra |
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Sales Office : |
Devi House, 6th Floor, Plot No. 37, CTS No.
1576, Shivajinagar,
Pune – 411 005, |
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Tel. No.: |
91-20-25534473/74 |
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Fax No.: |
91-20-25533231 |
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E-Mail |
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Branch Office : |
·
60, Tel. 91-20-2388158 ·
36, Goodwill Society, Aundh, Pune – 411007, Tel. No. 91-20-25883888 Fax No. 91-20-25883898 |
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Overseas Offices : |
v
46-A, Tel. (65) 6225 5690 Fax. (65) 6225 3034 E-mail. brintons@singnet.com.sg v Arista Interior Décor Pte. Aljunied Industrial Complex, 625, Aljunied Industrial Complex, Tel. (65) 67483333 Fax. (65) 6748 1981 E-mail. arista@singnet.com.sg v Shanghai Rep. Off. Room 6009/6010, Sanghai Overseas No. 129, Yan An Tel. (8621) 62496340/62496341 Fax. (8621) 62498079/62498079 E-mail. jessicanyberg@brintons-sh.com v 3-A, Simpang 97-23, Jalan Kiarong, Kampong Kiulap BSB, Tel. 00 673 88698742 E-mail. samba@brunet.bn
v Hotel & Commercial Carpet, PMB 466, Tel. 0011 671 6493069 Fax. 0011 671 6493470 v
Room No. 2102, 48-62, Tel. 91-852-25202736 Fax. 91-852-28654930 E-mail. hkg@intlcpt.com v PT. Samudra Tujuh Jalan H, Pentul 1 No. 2, Radio
Dalam, Tel. (6221) 7232111 Fax. (6221) 7223541 E-mail. samudra_7@link.net.id v Plus Space Design Corp YT Building, 2-2-4 Koujimachi, Chiyoda-Ku, Tel. (813) 35127751 Fax. (813) 35127577 E-mail. mmohri@plus.co.jp/yaskobayashi@plus.co.jp v
Contract Story – A, Off 208 Astana, Tel. (3271) 396859 Fax. (3271) 397368 E-mail. contractstory@mail.kz v Young Han Trading Company Room 320, Hyundai Esa II Officetel, 1542-6, Seocho-dong, Seocho-gu, Tel. 00 82 2 5885587 Fax. 00 82 2 5885547 Eunah Yeo 00 82 11 351 4782 Daesung Kim 00 82 11 9026 3905 E-mail. brintonskorea@kornet.in v Cresent Design (M) Sdn Bhd No. 29, Jalan 4/118C, Desa Tun Razak, Cheras 56000, Tel. (603) 9173 4948 Fax. (603) 9173 5018 E-mail. skycrest@tm.net.my v
Unit 1110, 11/F, Ortigas Centre, Tel. (603) 9173 4948 Fax. (603) 9173 5018 E-mail. skycrest@tm.net.my v
26, Berezhkovskaya Nab, Tel. 095 240 2629 E-mail. contractstory@mtu-net.ru v
Zipovskaya Str. 5, Tel. (8612) 52 33 15 Fax. (8612) 52 3359 v Delmege Forsyth & Company Limited 101 M, Vinayalankara Mawatha, Tel. 00 94 268 6756/00 94 11 2693361-8 Fax. 00 94 269 8139/00 94 11 268 6149/00 94 11 2699413 E-mail. id@delmege.com v Room No. 320Mall Hyundai Esa II Officetel 1542-6, Seocho-Dong, Seocho-Gu Tel. (822) 588 5587 Fax. (822) 588 5547 E-mail. brintonskorea@kornet.net v New Chin Chin Corporation 2 Floor, No. 94, Sec 3 Min Sheng East Roa, Teipei 104, Tel. (886) 22501 0922 Fax. (886) 22501 2490 E-mail. nccncc@ms48.hinet.net v The Gannon Company (HK) Limited 4th Floor, Tel. 8488227347 Fax. 94882272350 E-mail. brian.smith@gannon.com.vn |
DIRECTORS
As on 31.03.2010
|
Name : |
Mr. Gururaj Purshottam Albal |
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Designation : |
Managing Director |
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Address : |
79, Revenue Colony, |
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Date of Birth/Age : |
14.08.1953 |
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Date of Appointment : |
04.09.2007 |
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Name : |
Mr. Harry Rireilly |
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Designation : |
Director |
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Name : |
Mr. Peter John Sverre Johnsen |
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Designation : |
Chairman |
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Address : |
34, |
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Date of Birth/Age : |
19.01.1955 |
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Date of Appointment : |
02.02.2006 |
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Name : |
Mr. Philip Ellis |
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Designation : |
Director |
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Address : |
24, Lady Meadow
Denstone, Uttoxester |
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Date of Birth/Age : |
10.09.1955 |
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Date of Appointment : |
13.02.2008 |
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Name : |
Mr. Madhukar Mayyala Kamath |
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Designation : |
Director |
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Address : |
602, Sunflower, Royal Complex, |
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Date of Birth/Age : |
27.11.1959 |
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Date of Appointment : |
06.11.2008 |
KEY EXECUTIVES
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Name : |
Mr. Harish Ramlal Maheshwari |
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Designation : |
Company Secretary |
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Address : |
O-1/3, Jai Vijayshree CHS, Goregaon (West), Mumbai-400 090, |
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Date of Birth/Age : |
03.11.1966 |
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Date of Appointment : |
01.04.2008 |
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Name : |
Mr. Shrikant M Deshpande |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2010
|
Names of Shareholders |
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No. of Shares |
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Brintons Limited, |
|
3399997 |
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Brintons Holding Limited, |
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3 |
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Total |
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3400000 |
As on 31.03.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Sale of Machine made Axminister Woven Carpets and Spun Yarn |
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Products : |
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Exports : |
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Products : |
Axminster Carpets |
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Countries : |
·
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Imports : |
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Products : |
Fibre and Dies and Chemicals |
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Countries : |
·
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Terms : |
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Selling : |
90 days |
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Purchasing : |
45 days |
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Machine made Woven Woolen Carpets |
SOR MTR |
1250000 |
781196 |
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Yarn |
KGS |
2250000 |
2199700 |
GENERAL INFORMATION
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Customers : |
·
Brintons Limited, |
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No. of Employees : |
550 (in office 50 + 500 in factory) (Approximately) |
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Bankers : |
Bank of Allahabad Bank |
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Facilities : |
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Note : 350.000 millions Fund Base and Non Fund Base |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Bharat S. Raut and Company Chartered Accountants |
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Address : |
703, 7th Floor, Goderej Castlemaine, Next to ruby hall clinic, Bund Garden Road, Pune - 411001, Maharashtra, India |
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Tel No : |
91-20-30585764/ 65 |
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Fax No : |
91-20-30585775 |
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E-Mail : |
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Associates/Subsidiaries : |
· Brinton Private Limited ·
Brinton Limited, ·
Brinton Inc., ·
Smith Godfellow Limited, |
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Holding Company : |
Brintons Limited, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3400000 |
Equity Shares |
Rs.100/- each |
Rs.340.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3400000 |
Equity Shares |
Rs.100/- each |
Rs.340.000 Millions |
1. of
the above 3,399,997 equity shares are held by Brintons Limited,
2. Of
the above shares, 1,753,557 shares are allotted as fully paid-up shares
pursuant to a contract for consideration other than cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
340.000 |
340.000 |
340.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
429.556 |
393.984 |
388.134 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
769.556 |
733.984 |
728.134 |
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LOAN FUNDS |
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|
1] Secured Loans |
147.839 |
0.000 |
0.000 |
|
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2] Unsecured Loans |
54.320 |
123.168 |
95.854 |
|
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TOTAL BORROWING |
202.159 |
123.168 |
95.854 |
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DEFERRED TAX LIABILITIES |
18.847 |
36.681 |
20.541 |
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TOTAL |
990.562 |
893.833 |
844.529 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
466.317 |
491.438 |
479.999 |
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Capital work-in-progress |
3.648 |
28.305 |
53.333 |
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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 |
203.522
|
194.423
|
195.177
|
|
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Sundry Debtors |
369.370
|
280.469
|
278.129
|
|
|
Cash & Bank Balances |
17.195
|
37.817
|
13.984
|
|
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Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
68.354
|
32.079
|
45.719
|
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Total
Current Assets |
658.441
|
544.788
|
533.009
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
86.262
|
131.654 |
178.460 |
|
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Other Current Liabilities |
28.274
|
20.296
|
16.156
|
|
|
Provisions |
23.308
|
18.748
|
27.196
|
|
Total
Current Liabilities |
137.844
|
170.698
|
221.812
|
|
|
Net Current Assets |
520.597
|
374.090
|
311.197
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
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|
|
|
|
TOTAL |
990.562 |
893.833 |
844.529 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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|
|
|
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Income |
924.770 |
1069.094 |
965.082 |
|
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Other Income |
58.110 |
12.010 |
14.547 |
|
|
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TOTAL (A) |
982.880 |
1081.104 |
979.629 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
600.437 |
543.373 |
|
|
|
Administration Expenses |
|
222.648 |
163.936 |
|
|
|
Manufacturing Expenses |
872.580 |
141.851 |
122.715 |
|
|
|
Other Expenditure |
|
4.261 |
0.000 |
|
|
|
TOTAL (B) |
872.580 |
969.197 |
830.024 |
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
110.300 |
111.907 |
149.605 |
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|
Less |
FINANCIAL
EXPENSES (D) |
5.080 |
5.266 |
6.230 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
105.220 |
106.641 |
143.375 |
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
71.480 |
78.488 |
73.878 |
|
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|
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|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
33.740 |
28.153 |
69.497 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.830) |
22.595 |
3.650 |
|
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|
|
|
|
|
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|
|
PROFIT AFTER TAX
(G-H) (I) |
35.570 |
5.558 |
65.847 |
|
|
|
|
|
|
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|
|
|
EARNINGS IN
FOREIGN CURRENCY |
624.068 |
911.194 |
860.733 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
399.755 |
506.599 |
478.168 |
|
|
|
Stores & Spares |
24.430 |
16.608 |
0.000 |
|
|
|
Capital Goods |
26.149 |
16.608 |
9.963 |
|
|
TOTAL IMPORTS |
450.334 |
539.815 |
488.131 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.46 |
1.63 |
19.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.62
|
0.51
|
7.09
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.65
|
2.63
|
7.20
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.00
|
2.72
|
6.86
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.04
|
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.44
|
0.400
|
0.46
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.78
|
3.19
|
2.40
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
(Rs.
In millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Dues to Micro and Small Enterprises under MSMED Act |
0.487 |
0.312 |
0.000 |
|
Other Creditors |
85.775 |
131.342 |
178.460 |
|
Total |
86.262 |
131.654 |
178.460 |
NOTE:
The registered office of the company has been shifted from Sant Singh
Mokha’s Bunglow, 60 Anand Park, Street No.2, Aundh, Pune – 411 007, India to
the present address w.e.f. 28.07.1999
Background
Subject
was incorporated on 21 October 1997 as a 100% export oriented unit ('EOU').
During the current year, the Company has deregistered itself from being an EOU.
The entire share capital of the Company is held by Brintons Limited,
The
Company manufactures and sells Axminster Carpets. In 2003, the Company
commenced the manufacture and sale of spun yam. A substantial portion of
BRASIA's production is sold to Brintons Limited UK and the remainder is sold in
the local market. The manufacturing facility of BRASIA is located at Pirangut,
Pune.
The
Company also renders IT enabled design, planning and estimation services to
Brintons Limited,
Review of Operations and Outlook
The
turnover of the Company during the year decreased from Rs. 1069.09 Millions to Rs.924.770 millions. This is mainly due to strengthening
of India Rupee against GBP and
under utilisation of looms waiting for confirmation of order from Delhi International
Airports Limited (DIAL). The
profit after tax was better at Re. 35.57 Millions as against Re. 5.55 Millions in the previous year.
During the year, company
implemented the largest single order in
its history of 176,000 Sq Metres of carpets for DIAL. The
order was successfully completed and delivered during the year.
The
company has deregistered as an EOU during
the year and has become a DTA
unit. The recessionary trends continued during the year. The demand for our
products was sluggish due to world economic conditions. We are expecting the
demand to increase as the current year progresses.
To
conserve the resources, your directors have decided not to declare any
FOREIGN EXCHANGE
The company had earned a total foreign exchange
of Rs. 691.710 millions as against previous year figure of Rs. 974.830 millions
and incurred expenditure in foreign exchange on account of imports of capital
goods, raw material, and other totaling to Rs. 453.690 millions against
previous year figure of Rs. 555.480 millions
FORM 8
|
Corporate
identity number of the company |
U17226PN1997PTC014590 |
|
Name of the
company |
BRINTONS CARPETS
ASIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 414/ 415/ 416, Village Urwade, Talluka Mulshi, District Pune
– 412108, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10190763 |
|
Type of charge |
Immovable Property
|
|
Particular of
charge holder |
Allahabad Bank, First Floor, Sevasadan Society, Kunte Chowk, Laxmi road, Pune-411 030, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Letter of
Mortgagor Confirming deposit of title deeds dated 04/03/2010 |
|
Date of
instrument Creating the charge |
04.03.2010 |
|
Amount secured by
the charge |
Rs.200.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest PLR minus 1%, per
annum (below Allahabad Bank's prime lending rate) with monthly rests Terms of Repayment 1. Term Loan for
- Five Years 2. To be repaid
in 20 quarterly installments of Rs.5.000 millions each, repayable after one
month from the date of initial Disbursement. 3. Monthly
interest has to be serviced every month. Margin 51.34% Extent and Operation of the charge first charge on
the property mortgaged by way of deposit of title deed (Equitable Mortgage) Others Limits are to be
reviewed on 16/10/2010 |
|
Particulars of
the present modification |
By this
modification, total charge stands increased to Rs.200.000 millions. New facility of
Term Loan for Rs.100.000 millions is sanctioned against the equitable mortgage
of title deeds of property under charge as first charge (more specifically
given in Schedule B as attached this form). Over and above Existing Limits
which comprises of working capital limit- Rs.6.000 millions and non fund
based limit (BG/LC)-Rs.40.000 millions remains unchanged along with all the
charge/s as it is. Total Limit now is Rs.200.00 0 millions. |
FIXED ASSETS:
- Land
- Building
- Plant and machinery
- Furniture and fixtures
- Vehicles
- Computer Equipments
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.44.67 |
|
|
1 |
Rs.69.44 |
|
Euro |
1 |
Rs.59.37 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.