MIRA
INFORM REPORT
|
Report Date : |
30.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
DEVASHISH INFRASTRUCTURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
305, Silver Plaza, Opposite Tube Company, |
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|
Country : |
|
|
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|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
03.04.2007 |
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|
|
|
Com. Reg. No.: |
04-050445 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.20.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201GJ2007PTC050445 |
|
|
|
|
IEC No.: |
3407001207 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDD01622F |
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|
|
PAN No.: [Permanent Account No.] |
AACCD5860A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Metal Roofing and Wall Cladding Systems and |
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|
|
|
No. of Employees
: |
Approximately 165 (In office – 25, In factory – 140) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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|
Comments : |
Subject is a 4 years old company having moderate track. Trade
relations are reported as fair. No valuation report has been provided by the
subject. However, no complaints have been heard from indirect or market
sources. It would be advisable to take adequate securities while dealings 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Prakash Vaja |
|
Designation : |
Chief Accountant |
|
Contact No.: |
91-9426747115 |
|
Date : |
27.06.2011 |
LOCATIONS
|
Registered Office : |
305, Silver Plaza, Opposite Tube Company, |
|
Tel. No.: |
91-265-2326590 |
|
Mobile No.: |
91-9426747115 (Mr. Prakash Vaja - Chief Accountant) |
|
Fax No.: |
91-265-2350531 |
|
E-Mail : |
inquiry@devashish.net |
|
Website : |
|
|
Area : |
1175 sq ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Revenue Survey No.941, Plot No.1412, Near Luna Mahali Road, Taluka
Padra, District Vadodara, Gujarat, India |
|
Tel. No.: |
91-2662-221382 |
|
Fax No.: |
91-2662-221383 |
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E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Maheshbhai Mohanbhai Vaghela |
|
Designation : |
Director |
|
Address : |
302, Mansi Apartment, Opposite Tube Company, |
|
Date of Birth/Age : |
10.08.1964 |
|
Qualification : |
Diploma Civil |
|
Experience : |
15 Years |
|
Date of Appointment : |
00083720 |
|
DIN No.: |
03.04.2007 |
|
|
|
|
Name : |
Mr. Ashish Bhavsukhray Pathak |
|
Designation : |
Director |
|
Address : |
401, Fortune Residency, Hari Bhakti Colony, Race Course, Vadodara, |
|
Date of Birth/Age : |
26.10.1969 |
|
Qualification : |
B.Com, M.B.A. |
|
Experience : |
18 Years |
|
Date of Appointment : |
03.04.2007 |
|
DIN No.: |
00739042 |
|
|
|
|
Name : |
Mrs. Ritaben Maheshbhai Vaghela |
|
Designation : |
Director |
|
Address : |
302, Mansi Apartment, Opposite Tube Company, |
|
Date of Birth/Age : |
22.03.1966 |
|
Qualification : |
B.Com |
|
Experience : |
15 Years |
|
Date of Appointment : |
03.04.2007 |
|
DIN No.: |
00083722 |
|
|
|
|
Name : |
Mr. Haresh Kumar Manilal Dave |
|
Designation : |
Director |
|
Address : |
'Dave Nivas' , 12-Station Plot, Gondal, |
|
Date of Birth/Age : |
04.03.1962 |
|
Date of Appointment : |
03.04.2007 |
|
Date of Ceasing : |
31.05.2010 |
|
DIN No.: |
00550230 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash Vaja |
|
Designation : |
Chief Accountant |
|
|
|
|
Name : |
Mr. Abhishek Choudhary |
|
Designation : |
Senior Manager - Technical Marketing |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mahesh M. Vaghela |
|
510843 |
|
Ashish B. Pathak |
|
328399 |
|
Rita M. Vaghela |
|
255422 |
|
Devashish Interiors Private Limited, |
|
905336 |
|
Total |
|
2000000 |
As on 31.08.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
42.90 |
|
Directors
or relatives of directors |
|
57.10 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Metal Roofing and Wall Cladding Systems and |
||||
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||||
|
Products : |
v
v
Roof and Cladding Solutions v
v
Day Light Solutions v
Industrial Ventilators v
Ceilings and Flooring
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Galvalume Steel Sheet |
700000 Sq. Mtr.
Per Year |
198856 Sq. Mtr. |
|
Z Purlin |
4500 MT Per Year
|
1065 MT |
|
Steel Structure |
2400 MT Per Year
|
2219.40 MT |
|
|
|
|
GENERAL INFORMATION
|
Suppliers : (As on 31.03.2010) |
v
Sai Home Décor and Paints v
Sainath Printers v
Sanjari Tempo Service v
Saturn v
Seagull Logistics v
Shah Polymers v
Shivam Corporation v
Shree Krishna v
Shri Vishnu Fuels v
Trivedi and Gupta v
TCI Freight v
Veer Tech v
V.K. Shah Associates v
Ultimate Marine Private Limited v
Vinayak Steel Syndicate v
V Can Technologies v
Twins Engineering v
Super Décor v
Swadesh Enterprise v
Star Scrap Traders v
Sunshine Rectrifier and Transformer v
S.K. Associates v
Silicon Outsourcing Services Private Limited v
Unique Refilling Centre v
Ujala Sales Service |
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Customers : |
End Users v Reliance Industries Limited v Bayer ABS Limited v Gujarat Adani Limited v Indian Oil Corporation v NBCC and CPWD v Larson and Turbo v Arvind Mill Limited v Siemens Limited v Alstom Power v Havellls v Atul Limited v Godrej Agrovet Limited v Crompton Greaves v Elecon Enginnering Company Limited v Hitachi Home Science v Suzlon Energy Limited v General Motors Limited v HNG Floatglass Limited v Wockhard Limited v ABG Shipyard Limited v Gujarat Guardian Limited v GNFC |
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No. of Employees : |
Approximately 165 (In office – 25, In factory – 140) |
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Bankers : |
v Karnataka Bank Limited, Surya Kiran Complex, Old Padra Road, Near Tagore Nagar, Vadodara – 390 015, Gujarat, India v
State Bank of v
ICICI Bank Limited |
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Facilities : |
Credit Limit – Rs.60.000 millions
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Viral K. Shah and Associates Chartered Accountants |
|
Address : |
104, Antrix Complex, Opposite World Trade Centre, Sayajigunj, Vadodara
– 390 005, |
|
Tel. No.: |
91-265-6538866 |
|
Mobile No.: |
91-9824362211 |
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|
|
|
Associates/Subsidiaries : |
Devashish
Interiors Private Limited Address: 312, Line of Business: Trading and Labour Work. |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
20.000 |
8.300 |
7.000 |
7.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
17.845 |
9.277 |
3.389 |
0.096 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
37.845 |
17.577 |
10.389 |
7.096 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
15.507 |
47.711 |
27.896 |
15.530 |
|
|
2] Unsecured Loans |
48.935 |
0.000 |
0.070 |
0.047 |
|
|
TOTAL BORROWING |
64.442 |
47.711 |
27.966 |
15.577 |
|
|
DEFERRED TAX LIABILITIES |
1.521 |
1.522 |
0.929 |
0.054 |
|
|
|
|
|
|
|
|
|
TOTAL |
103.808 |
66.810 |
39.284 |
22.727 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.593 |
34.957 |
28.775 |
14.909 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
72.039
|
12.314 |
11.496 |
27.289 |
|
|
Sundry Debtors |
9.910
|
43.377 |
14.690 |
1.809 |
|
|
Cash & Bank Balances |
0.077
|
6.369 |
2.307 |
0.672 |
|
|
Other Current Assets |
1.837
|
0.000 |
0.000 |
0.000 |
|
|
Loans, Advances & Deposits |
22.613
|
9.874 |
5.073 |
5.180 |
|
Total
Current Assets |
106.476
|
71.934 |
33.566 |
34.950 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditors |
55.126
|
22.162 |
18.463 |
26.563 |
|
|
Other Current Liabilities |
(14.803)
|
15.148 |
3.861 |
0.667 |
|
|
Provisions |
7.999
|
2.832 |
0.824 |
0.024 |
|
Total
Current Liabilities |
48.322
|
40.142 |
23.148 |
27.254 |
|
|
Net Current Assets |
58.154
|
31.792 |
10.418 |
7.696 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.061 |
0.061 |
0.091 |
0.122 |
|
|
|
|
|
|
|
|
|
TOTAL |
103.808 |
66.810 |
39.284 |
22.727 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
363.468 |
161.635 |
133.738 |
20.648 |
|
|
|
Other Income |
1.217 |
0.555 |
0.173 |
0.039 |
|
|
|
TOTAL (A) |
364.685 |
162.190 |
133.911 |
20.687 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Materials Consumed |
|
115.861 |
115.879 |
19.533 |
|
|
|
Manufacturing Expenses |
|
14.852 |
4.663 |
0.808 |
|
|
|
Administrative & Operative Expenses |
|
6.182 |
2.143 |
0.291 |
|
|
|
Employees Remuneration & Benefits |
|
7.641 |
2.503 |
0.034 |
|
|
|
Miscellaneous Expenditure write off |
|
0.031 |
0.031 |
0.031 |
|
|
|
Increase/ Decrease in Stock |
|
0.788 |
(1.738) |
(0.983) |
|
|
|
TOTAL (B) |
331.499 |
145.355 |
123.481 |
19.714 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
33.186 |
16.835 |
10.430 |
0.973 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.629 |
5.135 |
3.350 |
0.529 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
26.557 |
11.700 |
7.080 |
0.444 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.289 |
3.171 |
2.130 |
0.270 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.268 |
8.529 |
4.950 |
0.174 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.858 |
2.636 |
1.658 |
0.077 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14.410 |
5.893 |
3.292 |
0.097 |
|
|
|
|
|
|
|
|
|
|
Less |
Prior Period Expenses
|
NA |
0.005 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
NA |
3.389 |
0.097 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
9.277 |
3.389 |
0.097 |
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
Raw Materials |
1.663 |
|
0.000 |
|
|
|
|
Capital Goods |
4.352 |
|
0.000 |
|
|
|
TOTAL IMPORTS |
6.015 |
3.633 |
0.000 |
12.973 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.21 |
7.10 |
4.70 |
0.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.95
|
3.63 |
2.46 |
0.47 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.58
|
5.28 |
3.70 |
0.84 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.33
|
7.98 |
7.94 |
0.35 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.54
|
0.49 |
0.48 |
0.02 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.98
|
5.00 |
4.92 |
6.04 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20
|
1.79 |
1.45 |
1.28 |
LOCAL AGENCY FURTHER INFORMATION
PROFITABILITY
AND NET CASH ACCRUALS
(Rs.
in millions)
|
Particulars |
Operating Years |
||
|
2011-12 |
2012-13 |
2013-14 |
|
|
Revenue/Income/Realisation |
|
|
|
|
|
|
|
|
|
Gross Sales Realisation |
409.975 |
471.471 |
542.192 |
|
|
|
|
|
|
Less: Excise Duties/Levies |
-- |
-- |
-- |
|
|
|
|
|
|
Net Sales Realisation |
409.975 |
471.471 |
542.192 |
|
|
|
|
|
|
Miscellaneous Income |
2.700 |
3.240 |
4.147 |
|
|
|
|
|
|
Total
Revenue/Income/Realisation |
412.675 |
474.711 |
546.339 |
|
|
|
|
|
|
Expenses/Cost of
Products/Services/Items |
|
|
|
|
Raw Material
Cost |
|
|
|
|
Indigenous |
339.358 |
392.752 |
453.116 |
|
|
|
|
|
|
Total Net
Consumption |
339.358 |
392.752 |
453.116 |
|
|
|
|
|
|
Sub Total of Net
Consumption |
339.358 |
392.752 |
453.116 |
|
|
|
|
|
|
Consumables Stores, etc |
2.206 |
2.809 |
3.253 |
|
|
|
|
|
|
Employees Expenses |
14.700 |
17.596 |
19.796 |
|
|
|
|
|
|
Fuel Expenses |
0.532 |
0.661 |
0.867 |
|
|
|
|
|
|
Power/Electricity Expenses |
0.902 |
1.085 |
1.409 |
|
|
|
|
|
|
Depreciation |
4.153 |
3.516 |
2.991 |
|
|
|
|
|
|
Repairs & Maintenance Expenses |
0.283 |
0.316 |
0.393 |
|
|
|
|
|
|
Other Manufacturing Expenses |
7.584 |
9.429 |
11.277 |
|
|
|
|
|
|
Total Cost of
Manufacture |
369.718 |
428.164 |
493.102 |
|
|
|
|
|
|
Add: Opening Stock - W.I.P. |
2.727 |
3.069 |
3.564 |
|
|
|
|
|
|
Less: Closing Stock - W.I.P. |
3.069 |
3.564 |
4.114 |
|
|
|
|
|
|
Net Cost of
Output/Services |
369.376 |
427.669 |
492.552 |
|
|
|
|
|
|
Add: Opening Stock-Finished Goods |
13.581 |
15.784 |
18.331 |
|
|
|
|
|
|
Less: Closing Stock-Finished Goods |
15.784 |
18.331 |
21.162 |
|
|
|
|
|
|
Cost of Output
of Goods Sold |
367.174 |
425.122 |
489.721 |
|
|
|
|
|
|
Gross Profit |
45.501 |
49.589 |
56.618 |
|
|
|
|
|
|
Administration Expenses |
8.240 |
9.901 |
11.603 |
|
|
|
|
|
|
Financial
Charges |
|
|
|
|
Long/Medium Term Borrowing |
1.183 |
0.452 |
0.157 |
|
|
|
|
|
|
On Working Capital Borrowings |
8.400 |
8.400 |
8.400 |
|
|
|
|
|
|
Lease Rentals / Others |
-- |
-- |
-- |
|
|
|
|
|
|
Total Financial Charges |
9.583 |
8.852 |
8.557 |
|
|
|
|
|
|
Total Cost of
Sales |
384.997 |
443.875 |
509.881 |
|
|
|
|
|
|
Net Profit Before Taxes |
27.678 |
30.836 |
36.458 |
|
|
|
|
|
|
Tax on Profit |
8.291 |
9.388 |
11.208 |
|
|
|
|
|
|
Net Profit After Taxes |
19.387 |
21.448 |
25.250 |
|
|
|
|
|
|
Depreciation Added Back |
4.153 |
3.516 |
2.991 |
|
|
|
|
|
|
Net Cash
Accruals |
23.540 |
24.964 |
28.241 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT
OF WORKING CAPITAL REQUIREMENTS
(Rs.
in millions)
|
Particulars |
Operating Years |
||
|
2011-12 |
2012-13 |
2013-14 |
|
|
CURRENT ASSETS |
|
|
|
|
Stocks on Hand |
|
|
|
|
Raw Material
Cost |
|
|
|
|
|
|
|
|
|
Indigenous |
21.210 |
24.547 |
28.320 |
|
|
|
|
|
|
Work-in-Process |
3.069 |
3.564 |
4.114 |
|
|
|
|
|
|
Finished Goods |
15.784 |
18.331 |
21.162 |
|
|
|
|
|
|
Receivables-Domestic |
|
|
|
|
Book Debts |
93.953 |
108.045 |
124.252 |
|
|
|
|
|
|
Current Expenses |
2.642 |
3.194 |
3.707 |
|
|
|
|
|
|
Cash/Bank Balances |
14.872 |
19.223 |
19.460 |
|
|
|
|
|
|
Other Current
Assets |
|
|
|
|
Miscellaneous Current Asset |
-- |
-- |
-- |
|
|
|
|
|
|
Miscellaneous Current Asset |
6.500 |
10.000 |
11.000 |
|
|
|
|
|
|
Gross Working Capital |
18.000 |
20.000 |
22.000 |
|
|
|
|
|
|
CURRENT
LIABILITIES |
176.030 |
206.904 |
234.015 |
|
|
|
|
|
|
Sundry Creditors
|
|
|
|
|
Raw Material
Cost |
|
|
|
|
Indigenous |
28.466 |
33.007 |
38.074 |
|
|
|
|
|
|
Current Expenses |
1.321 |
1.597 |
1.853 |
|
|
|
|
|
|
Other Current
Liabilities |
|
|
|
|
Miscellaneous Current Liability |
18.000 |
27.000 |
31.500 |
|
|
|
|
|
|
Miscellaneous Current Liability |
5.415 |
2.210 |
-- |
|
|
|
|
|
|
Installments Due Within Next 12 Months on Long/Medium Term Borrowing |
4.701 |
0.744 |
0.600 |
|
|
|
|
|
|
Total Current
Liabilities |
57.903 |
64.558 |
72.027 |
|
|
|
|
|
|
Net Working
Capital (Total CA – Total CL) |
118.126 |
142.346 |
161.987 |
|
|
|
|
|
|
M.P.B.F. -Method I |
92.121 |
107.317 |
121.940 |
|
|
|
|
|
|
As Per Tandon Com.Norm-Method II |
78.820 |
91.364 |
104.084 |
|
|
|
|
|
|
Permissible
Finance - D.P. (%age) |
|
|
|
|
Work in Process |
1.995 |
2.317 |
2.674 |
|
|
|
|
|
|
Finished Goods |
11.049 |
12.832 |
14.813 |
|
|
|
|
|
|
Book Debts |
70.464 |
81.034 |
93.189 |
|
|
|
|
|
|
Total Bank Finance (DP Method) |
83.508 |
96.182 |
110.677 |
|
|
|
|
|
|
Bank Finance (Turnover Method) |
81.995 |
94.294 |
108.438 |
|
|
|
|
|
|
Bank Finance: As Given Amount |
70.000 |
70.000 |
70.000 |
|
|
|
|
|
|
Current Ratio (No. of times) |
1.38 |
1.54 |
1.65 |
------------------------------------------------------------------------------------------------------------------------------
SOURCES
AND DISPOSITION OF FUNDS
(Rs.
in millions)
|
Particulars |
Operating Years |
||
|
2011-12 |
2012-13 |
2013-14 |
|
|
SOURCES OF FUNDS |
|
|
|
|
|
|
|
|
|
Net Profit Before Tax with Interest Charges Added Back but after
Depreciation Provision |
37.261 |
39.688 |
45.015 |
|
|
|
|
|
|
Equity Share Capital |
-- |
-- |
-- |
|
|
|
|
|
|
Adjust Duff.: COP & MOF |
-- |
-- |
-- |
|
|
|
|
|
|
Depreciation |
4.153 |
3.516 |
2.991 |
|
|
|
|
|
|
Increase in Long/Medium Term Loan |
-- |
-- |
-- |
|
|
|
|
|
|
Proposed-Term Loan from Bank |
-- |
-- |
-- |
|
|
|
|
|
|
Proposed-HDFC Car Loan |
-- |
-- |
-- |
|
|
|
|
|
|
Increase in Unsecured Loans |
-- |
-- |
-- |
|
|
|
|
|
|
Proposed-Loan from Directors |
-- |
-- |
-- |
|
|
|
|
|
|
Increase in Bank Borrowing for Working Capital |
-- |
-- |
-- |
|
|
|
|
|
|
Increase in Current Liabilities |
18.541 |
10.612 |
7.613 |
|
|
|
|
|
|
Total Sources of
Fund |
59.955 |
53.816 |
55.619 |
|
|
|
|
|
|
DISPOSITIONS OF
FUNDS |
|
|
|
|
Increase in Capital Expense |
-- |
-- |
8.000 |
|
|
|
|
|
|
Increase in Current Assets |
22.357 |
26.523 |
26.873 |
|
|
|
|
|
|
Decrease in Long/Medium Term |
-- |
-- |
-- |
|
|
|
|
|
|
Existing-TERM LOAN FROM BANK |
2.714 |
1.221 |
-- |
|
|
|
|
|
|
Existing-TERM LOAN FROM BANK |
1.936 |
1.937 |
-- |
|
|
|
|
|
|
Existing-TERM LOAN FROM BANK |
0.144 |
0.144 |
0.075 |
|
|
|
|
|
|
Existing-HDFC Car Loan |
0.559 |
0.308 |
-- |
|
|
|
|
|
|
Existing-Term Loan from Bank |
0.155 |
0.155 |
0.043 |
|
|
|
|
|
|
Existing-Term Loan from Bank |
0.106 |
0.106 |
0.026 |
|
|
|
|
|
|
Proposed-Term Loan from Bank |
0.600 |
0.600 |
0.600 |
|
|
|
|
|
|
Proposed-HDFC Car Loan |
0.385 |
0.230 |
-- |
|
|
|
|
|
|
Decrease in Unsecured Loans |
-- |
-- |
-- |
|
|
|
|
|
|
Interest/Financial Expenses |
9.583 |
8.852 |
8.557 |
|
|
|
|
|
|
Taxes on Profit |
8.291 |
9.388 |
11.208 |
|
|
|
|
|
|
Total
Disposition |
46.830 |
49.464 |
55.382 |
|
|
|
|
|
|
Opening Balance |
1.747 |
14.872 |
19.223 |
|
|
|
|
|
|
Net Surplus /
Deficit |
13.125 |
4.351 |
0.237 |
|
|
|
|
|
|
Closing Balance |
14.872 |
19.223 |
19.460 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED
BALANCE SHEETS
(Rs.
in millions)
|
Particulars |
Operating Years |
||
|
2011-12 |
2012-13 |
2013-14 |
|
|
Equity Share Capital |
20.000 |
20.000 |
20.000 |
|
|
|
|
|
|
Surplus of Previous Year |
30.098 |
49.485 |
70.933 |
|
|
|
|
|
|
Add: Net Profit After Taxes |
19.387 |
21.448 |
25.250 |
|
|
|
|
|
|
Surplus at the End of Year |
49.485 |
70.933 |
96.183 |
|
|
|
|
|
|
Long/Medium Term Borrowings |
-- |
-- |
-- |
|
|
|
|
|
|
Existing-TERM LOAN FROM BANK |
1.221 |
-- |
-- |
|
|
|
|
|
|
Existing-TERM LOAN FROM BANK |
1.937 |
-- |
-- |
|
|
|
|
|
|
Existing-TERM LOAN FROM BANK |
0.219 |
0.075 |
-- |
|
|
|
|
|
|
Existing-HDFC Car Loan |
0.308 |
-- |
-- |
|
|
|
|
|
|
Existing-Term Loan from Bank |
0.198 |
0.043 |
-- |
|
|
|
|
|
|
Existing-Term Loan from Bank |
0.132 |
0.026 |
-- |
|
|
|
|
|
|
Proposed-Term Loan from Bank |
2.150 |
1.550 |
0.950 |
|
|
|
|
|
|
Proposed-HDFC Car Loan |
0.230 |
-- |
-- |
|
|
|
|
|
|
Unsecured Loans/Deposits |
-- |
-- |
-- |
|
|
|
|
|
|
Existing-Loan from Directors |
0.047 |
0.047 |
0.047 |
|
|
|
|
|
|
Proposed-Loan from Directors |
3.000 |
3.000 |
3.000 |
|
|
|
|
|
|
Bank Borrowing for Working Capital |
70.000 |
70.000 |
70.000 |
|
|
|
|
|
|
Current
Liabilities |
|
|
|
|
Sundry Creditors |
28.466 |
33.007 |
38.074 |
|
|
|
|
|
|
Other Current Liabilities |
24.736 |
30.807 |
33.353 |
|
|
|
|
|
|
Total Current
Liabilities |
53.202 |
63.814 |
71.427 |
|
|
|
|
|
|
Total of
Liabilities |
202.129 |
229.488 |
261.607 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
Fixed Assets |
|
|
|
|
|
|
|
|
|
Gross Block |
35.185 |
35.185 |
43.185 |
|
Less: Depreciation to Date |
9.085 |
12.601 |
15.592 |
|
Net Block |
26.100 |
22.584 |
27.593 |
|
|
|
|
|
|
Current Assets |
|
|
|
|
Stocks on Hand |
40.063 |
46.442 |
53.596 |
|
|
|
|
|
|
Receivables |
93.953 |
108.045 |
124.252 |
|
|
|
|
|
|
Cash and Bank Balances |
14.872 |
19.223 |
19.460 |
|
|
|
|
|
|
Other Current Assets |
27.141 |
33.194 |
36.706 |
|
|
|
|
|
|
Total Current
Assets |
176.029 |
206.904 |
234.014 |
|
|
|
|
|
|
Total of Assets |
202.129 |
229.488 |
261.607 |
------------------------------------------------------------------------------------------------------------------------------
PROFITABILITY
RATIOS, DSCR, DEBT EQUITY, ETC.
(Rs.
in millions)
|
Particulars |
Operating Years |
||
|
2011-12 |
2012-13 |
2013-14 |
|
|
Profit
Percentages to Net Sales |
|
|
|
|
Gross Profit |
45.501 |
49.589 |
56.618 |
|
|
|
|
|
|
% of G.P. to Net Sales |
11.10 |
10.52 |
10.44 |
|
|
|
|
|
|
P.B.I.D.T. |
41.414 |
43.204 |
48.006 |
|
|
|
|
|
|
% of PBIDT to Net Sales |
10.10 |
9.16 |
8.85 |
|
|
|
|
|
|
Net Profit Before Taxes |
27.678 |
30.836 |
36.458 |
|
|
|
|
|
|
% of N.P.B.T. To Net Sales |
6.75 |
6.54 |
6.72 |
|
|
|
|
|
|
Net Profit After Taxes |
19.387 |
21.448 |
25.250 |
|
|
|
|
|
|
% of N.P.A.T. To Net Sales |
4.73 |
4.55 |
4.66 |
|
|
|
|
|
|
Net Cash Accruals |
23.540 |
24.964 |
28.241 |
|
|
|
|
|
|
% Of Cash Accruals to Net Sales |
5.74 |
5.29 |
5.21 |
|
|
|
|
|
|
Debt Service Coverage
Ratio |
|
|
|
|
Funds Available
to Service Debts |
|
|
|
|
|
|
|
|
|
Net Profit After Taxes |
19.387 |
21.448 |
25.250 |
|
|
|
|
|
|
Depreciation Charges |
4.153 |
3.516 |
2.991 |
|
|
|
|
|
|
Interest on Long/Medium Term |
1.183 |
0.452 |
0.157 |
|
|
|
|
|
|
Lease Rentals and Charges |
-- |
-- |
-- |
|
|
|
|
|
|
Total |
24.723 |
25.416 |
28.398 |
|
|
|
|
|
|
Debt Service
Obligations |
|
|
|
|
|
|
|
|
|
Repayment of Long/Medium Term |
6.599 |
4.701 |
0.744 |
|
|
|
|
|
|
Interest on Long/Medium Term |
1.183 |
0.452 |
0.157 |
|
|
|
|
|
|
Lease Rentals and Charges |
-- |
-- |
-- |
|
|
|
|
|
|
Total |
7.782 |
5.153 |
0.901 |
|
|
|
|
|
|
D. S.C. R. (Individual) |
3.18 |
4.93 |
31.52 |
|
|
|
|
|
|
D. S. C. R. (Cumulative) |
3.02 |
3.48 |
4.63 |
|
|
|
|
|
|
D. S. C. R. (Overall) |
-- |
4.63 |
-- |
|
|
|
|
|
|
Indebtedness
Ratios Initial |
|
|
|
|
DEBT / EQUITY (Non Quasi) |
0.14 |
0.05 |
0.03 |
|
|
|
|
|
|
DEBT / EQUITY (Quasi) |
0.09 |
0.02 |
0.01 |
|
|
|
|
|
|
TOL/TNW (Non Quasi) |
1.91 |
1.52 |
1.25 |
|
|
|
|
|
|
TOLITNW (Quasi) |
1.79 |
1.44 |
1.19 |
|
|
|
|
|
|
Assets Turnover Ratio (x) |
2.03 |
2.05 |
2.07 |
|
|
|
|
|
|
Interest Coverage(x) (PBI DT/ Int.) |
4.32 |
4.88 |
5.61 |
|
|
|
|
|
|
No. of Shares of 10.00 each |
2000000.00 |
2000000.00 |
2000000.00 |
|
|
|
|
|
|
Earnings Per Share (EPS) (in Rs.) |
9.69 |
10.72 |
12.63 |
|
|
|
|
|
|
Cash EPS (in Rs.) |
11.77 |
12.48 |
14.12 |
|
|
|
|
|
|
Dividend Per Share (DPS) (in Rs.) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Payout Ratio (%Age) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Retained Earnings/Share (in Rs.) |
9.69 |
10.72 |
12.63 |
|
|
|
|
|
|
Retained Earnings (%Age) |
100.00 |
100.00 |
100.00 |
|
|
|
|
|
|
Book Value Per Share (in Rs.) |
34.74 |
45.47 |
58.09 |
|
|
|
|
|
|
Debt Per Share (in Rs.) |
4.72 |
2.37 |
2.00 |
|
|
|
|
|
|
Probable Market Price/Share (in Rs.) |
9.69 |
10.72 |
12.63 |
|
|
|
|
|
|
Price / Book Value (x) |
0.28 |
0.24 |
0.22 |
|
|
|
|
|
|
Price Earnings Ratio (x) |
1.00 |
1.00 |
1.00 |
|
|
|
|
|
|
Yield (%Age) |
0.00 |
0.00 |
0.00 |
------------------------------------------------------------------------------------------------------------------------------
TAX ON
PROFITS
(Rs.
in millions)
|
Particulars |
Operating Years |
||
|
2011-12 |
2012-13 |
2013-14 |
|
|
Net Profit Before Taxes |
27.678 |
30.836 |
36.458 |
|
|
|
|
|
|
Adjustments to
NPBT |
|
|
|
|
Add: Depreciation as provided |
4.153 |
3.516 |
2.991 |
|
|
|
|
|
|
Less Depreciation as per IT |
4.999 |
3.970 |
3.177 |
|
|
|
|
|
|
Recomputed NPBT |
26.832 |
30.382 |
36.272 |
|
|
|
|
|
|
Adjustments to
Recomputed NPBT |
-- |
-- |
-- |
|
|
|
|
|
|
Less: Set-off of Losses |
-- |
-- |
-- |
|
|
|
|
|
|
Less: Deduction u/s 8OHHC |
-- |
-- |
-- |
|
|
|
|
|
|
Less: Deduction u/s 80IA |
-- |
-- |
-- |
|
|
|
|
|
|
Less: Other Deductions |
-- |
-- |
-- |
|
|
|
|
|
|
Taxable Profits |
26.832 |
30.382 |
36.272 |
|
|
|
|
|
|
Income Tax on Profits |
8.291 |
9.388 |
11.208 |
|
|
|
|
|
|
Income Tax on Profits |
8.291 |
9.388 |
11.208 |
|
|
|
|
|
|
Provision for Deferred Tax |
-- |
-- |
-- |
|
|
|
|
|
|
Provision for FBT |
-- |
-- |
-- |
|
|
|
|
|
|
Total Tax
Expense |
8.291 |
9.388 |
11.208 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
SHOWING ASSETS AND LIABILITIES (NET WORTH STATEMENTS)
NAME OF THE
APPLICANT: MR. MAHESH M. VAGHELA
|
Immovable Properties |
Applicant |
|
Address of the Property with Survey No./ Door No. etc. |
305, |
|
|
|
|
Description: Land/ Site/ Building |
Building |
|
|
|
|
Whether Freehold/ Leasehold |
Leasehold |
|
|
|
|
Type of property: Commercial/ Residential/ Agricultural |
Office |
|
|
|
|
Area/ Extent of land |
1175 sq mt |
|
|
|
|
Mortgaged for availing loan if any, details thereof |
Mortgaged for KBL OD |
|
|
|
|
Present Market/
Assessed value |
Rs.2.902
millions |
|
Investment in Business Capital |
Applicant |
|
Name of the Company/ Firm/ Concern in which investment is made |
Devashish Infrastructure Private Limited Devashish Interiors Private Limited |
|
|
|
|
Present value of
investments |
Rs.2.120
millions + Rs.0.450 million |
|
Life Insurance Policies |
Applicant |
|
Policy Number/s |
07 |
|
|
|
|
Type of Policy: Endowment/ whole life etc. |
LIC I |
|
|
|
|
Annual Premium |
Rs.0.108 million |
|
|
|
|
Sum Assured |
Rs.1.675 millions |
|
|
|
|
Surrender Value |
Rs.0.675 million
|
|
Other Assets: |
|
|
Furniture and Fixtures |
Rs.0.450 million |
|
|
|
|
Cash in Hand |
Rs.0.040 million |
|
|
|
|
Jewellery |
Rs.0.150 million |
|
|
|
|
Total Value of
Other Assets |
Rs.0.640 million
|
|
TOTAL ASSETS |
Rs.6.787
millions |
|
TOTAL
LIABILITIES |
NIL |
|
NET WORTH
(ASSETS – LIABILITIES) |
Rs.6.787
millions |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
SHOWING ASSETS AND LIABILITIES (NET WORTH STATEMENTS)
NAME OF THE
APPLICANT: MR. ASHISH B. PATHAK
|
Immovable Properties |
Applicant |
|
Address of the Property with Survey No./ Door No. etc. |
717, 7th Floor, Siddharth Complex, Vadodara, |
|
|
|
|
Whether Freehold/ Leasehold |
Leasehold |
|
|
|
|
Type of property: Commercial/ Residential/ Agricultural |
Office |
|
|
|
|
Area/ Extent of land |
551 sq mt |
|
|
|
|
Mortgaged for availing loan if any, details thereof |
Mortgaged for KBL OD |
|
|
|
|
Present Market/
Assessed value |
Rs.1.377
millions |
|
Investment in Business Capital |
Applicant |
|
Name of the Company/ Firm/ Concern in which investment is made |
Devashish Infrastructure Private Limited Devashish Interiors Private Limited |
|
|
|
|
Present value of
investments |
Rs.1.125 millions
+ Rs.0.300 million |
|
Deposits held
with Banks/ Companies/ Others Lender, etc.: |
|
|
Name of the Bank/ Company where deposits are held |
Rosalee Colours |
|
|
|
|
Nature of deposits |
Fixed Deposit |
|
|
|
|
Present value of
deposits |
Rs.0.550 million
|
|
Life Insurance Policies |
Applicant |
|
Policy Number/s |
LIC |
|
|
|
|
Sum Assured |
Rs.1.800 millions |
|
|
|
|
Surrender Value |
Rs.0.800 million
|
|
Other
Assets: |
|
|
Furniture and Fixtures |
Rs.0.500 million |
|
|
|
|
Cash in Hand |
Rs.0.030 million |
|
|
|
|
Total Value of
Other Assets |
Rs.0.530
millions |
|
TOTAL ASSETS |
Rs.4.682
millions |
|
LIABILITIES |
Applicant |
|
Name of the Bank/ Institution |
State Bank if |
|
|
|
|
Nature/ Type of Loan |
Housing Loan |
|
|
|
|
Amount of Loan Availed |
Rs.3.584 millions |
|
|
|
|
Amount
outstanding |
Rs.3.385
millions |
|
TOTAL
LIABILITIES |
Rs.3.385
millions |
|
NET WORTH (ASSETS
– LIABILITIES) |
Rs.1.297
millions |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
SHOWING ASSETS AND LIABILITIES (NET WORTH STATEMENTS)
NAME OF THE APPLICANT:
MRS. RITA M. VAGHELA
|
Immovable Properties |
Applicant |
|
Address of the Property with Survey No./ Door No. etc. |
305, Mansi Apartment, |
|
|
|
|
Description: Land/ Site/ Building |
Building |
|
|
|
|
Whether Freehold/ Leasehold |
Leasehold |
|
|
|
|
Type of property: Commercial/ Residential/ Agricultural |
Residency |
|
|
|
|
Mortgaged for availing loan if any, details thereof |
Mortgaged for State Bank of |
|
|
|
|
Present Market/
Assessed value |
Rs.4.000
millions |
|
Investment in Business Capital |
Applicant |
|
Name of the Company/ Firm/ Concern in which investment is made |
Devashish Infrastructure Private Limited Devashish Interiors Private Limited |
|
|
|
|
Present value of
investments |
Rs.1.060
millions + Rs.0.250 million |
|
Deposits held
with Banks/ Companies/ Others Lender, etc.: |
|
|
Name of the Bank/ Company where deposits are held |
Karnataka Bank |
|
|
|
|
Nature of deposits |
Fixed Deposit |
|
|
|
|
Present value of
deposits |
Rs.0.200 million
|
|
Life Insurance Policies |
Applicant |
|
Policy Number/s |
LIC |
|
|
|
|
Sum Assured |
Rs.0.500 million |
|
|
|
|
Surrender Value |
Rs.0.200 million
|
|
Other Assets: |
|
|
Furniture and Fixtures |
Rs.0.300 million |
|
|
|
|
Cash in Hand |
Rs.0.055 million |
|
|
|
|
Jewellery |
Rs.0.470 million |
|
|
|
|
Total Value of
Other Assets |
Rs.0.825 million
|
|
TOTAL ASSETS |
Rs.6.535
millions |
|
LIABILITIES |
Applicant |
|
Name of the Bank/ Institution |
State Bank if |
|
|
|
|
Nature/ Type of Loan |
Housing Loan |
|
|
|
|
Amount of Loan Availed |
Rs.1.600 millions |
|
|
|
|
Amount
outstanding |
Rs.1.450
millions |
|
TOTAL
LIABILITIES |
Rs.1.450
millions |
|
NET WORTH
(ASSETS – LIABILITIES) |
Rs.5.085
millions |
------------------------------------------------------------------------------------------------------------------------------
FORM 8:
|
Corporate
identity number of the company |
U45201GJ2007PTC050445 |
|
Name of the
company |
DEVASHISH INFRASTRUCTURE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
305, Silver Plaza, Opposite Tube Company, E-Mail: mahesh@devashish.net |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Karnataka Bank Limited, Surya Kiran Complex, Old Padra Road, Near Tagore Nagar, Vadodara – 390 015, Gujarat, India E-Mail: vadodara@ktkbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
agreement dated 20-10-2010 for purchase of machinery (term loan of Rs.3.000
millions) and usance bill discounting (LC) of Rs.5.000 millions. |
|
Date of
instrument Creating the charge |
20.10.2010 |
|
Amount secured by
the charge |
Rs.8.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: TL - Base rate
+3.25% i.e. presently 12.00% p.a. BD - Base rate +
3.25% i.e. presently 12.00% p.a. Terms of
Repayment: TL - Repayable in
60 equated monthly instilments of Rs.0.067 million BD - On demand Margin: TL - 25% on
machinery to be purchased BD - 25% on
receivables Extent and
Operation of the charge: 100% |
|
Short particulars
of the property charged |
Hypothecation of
H-Beam Assembly, Welding, Straightening Integrating Machine. All kinds of book
debts / receivables including receivables for goods sold under LC. |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
v
Air Condition
v
Air Ventilator
v
Computer
v
CCTV Camera
v
Crane Hydraulic
v
Electrical Installation
v
EPABX
v
v
Furniture and Fixtures
v
Generator
v
Liftor Magnet
v
v
Office Equipments
v
Plant and Machinery
v
Printer
v
Tools
v
Vehicle
------------------------------------------------------------------------------------------------------------------------------
WEBSITE DETAILS:
PROFILE:
Subject is a part of
Devashish Group of companies. The group is based at Vadodara, the centre of industrial
activities in the bustling and exponentially growing state of
The group started
its venture into industrial infrastructure in the year 1996. Ever since then,
the requisite combination of Technical knowledge, competitive pricing and
service back-up has seen the name of Devashish as a valued service provider in
the state and all over the country serving leading industrial houses.
The Flagship company
of the group, Devashish Interiors Private Limited has been servicing the
requirements of the customers in terms of understanding their requirements and
providing the cost-effective solutions. The company has offered Preengineered
Buildings, Roofing
and Cladding solutions, Industrial Ventilation systems, Industrial Day Light
Solutions and Building accessories.
With a consistent
track record of creating a niche for itself, the group has earned repeat
business from business houses like Reliance Industries Limited, Adani Agri Logistics
Limited, Arvind Mills Limited, Gujarat Guardian Limited, Crompton Greaves
Limited, Hitachi Home Science Limited, Indian Oil Corporation Limited,
Wockhardt Limited and many more.
------------------------------------------------------------------------------------------------------------------------------
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.44.94 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.64.60 |
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.