MIRA
INFORM REPORT
|
Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
M. R. V. TEX |
|
|
|
|
Registered
Office : |
D. No.3/159-A, K K Nagar, Edanganasalai – Elampillai, Sangagiri (TK), Salem
– 637502, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 (Provisional) |
|
|
|
|
Year of
Establishment : |
2006 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.555 Millions |
|
|
|
|
TIN No.: |
33213224935 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AEBPV5036Q |
|
|
|
|
Legal Form : |
Sole Proprietory Concern. |
|
|
|
|
Line of Business
: |
Manufacturers and Traders of Pure Silk and Other Sarees. |
|
|
|
|
No. of Employees
: |
60 (Office – 10 and Factory – 50) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small concern in its field. Trade relations are
reported as fair. The valuation report and networth statement provided seems
to be satisfactory. 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) |
|
|
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. R. Vadivel |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9443849528 |
|
Date : |
30.06.2011 |
LOCATIONS
|
Registered Office/ Factory : |
D. No.3/159-A, K K Nagar, Edanganasalai – Elampillai, Sangagiri (TK),
Salem – 637502, Tamilnadu, India |
|
Mobile No.: |
91-9443849528 (Mr. R. Vadivel) |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. R. Vadivel |
|
Designation : |
Proprietor |
|
Address : |
D. No.3/159-A, K K Nagar, Edanganasalai – Elampillai, Sangagiri (TK),
Salem – 637502, Tamilnadu, India |
|
Date of Birth/Age : |
01.05.1967 |
|
Experience : |
25 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Traders of Pure Silk and Other Sarees. |
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|
|
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|
Products : |
|
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|
|
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|
Terms : |
|
||||||
|
Selling : |
Cash and Credit (30 days) |
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|
|
|
||||||
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
60 (Office – 10 and Factory – 50) (Approximately) |
|
|
|
|
Bankers : |
Corporation Bank, Vembadithalam |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. D. Arthanarisamy Chartered Accountant |
|
Address : |
91, Panduranga Vittal Street, Gugai, Salem – 637506, Tamilnadu, India |
|
Tel. No.: |
91-427-22216171 |
CAPITAL STRUCTURE
(AS ON 31.03.2011 – PROVISIONAL)
|
Capital Investment : |
|
|
Owned : |
Rs.1.374 Millions |
|
Borrowed : |
Rs.0.181 Million |
|
Total : |
Rs.1.555
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (Provisional)
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
1.374 |
1.160 |
0.973 |
0.803 |
|
|
2] Share Application Money |
0000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.374 |
1.160 |
0.973 |
0.803 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.098 |
0.000 |
|
|
2] Unsecured Loans |
0.181 |
0.181 |
0.181 |
0.181 |
|
|
TOTAL BORROWING |
0.181 |
0.181 |
0.279 |
0.181 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
1.555 |
1.341 |
1.252 |
0.984 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.726 |
0.726 |
0.731 |
0.732 |
|
|
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 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
0.432
|
0.025 |
0.210 |
0.255 |
|
|
Sundry Debtors |
0.787
|
1.446 |
0.264 |
0.113 |
|
|
Cash & Bank Balances |
0.129
|
0.229 |
0.039 |
0.045 |
|
|
Other Current Assets |
0.003
|
0.003
|
0.056 |
0.026 |
|
|
Loans & Advances |
0.000
|
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
1.351
|
1.703 |
0.569 |
0.439 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditor |
0.522
|
1.088 |
0.048 |
0.187 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
0.522
|
1.088 |
0.048 |
0.187 |
|
|
Net Current Assets |
0.829
|
0.615 |
0.521 |
0.252 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
1.555 |
1.341 |
1.252 |
0.984 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional)
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Sales (Sarees) |
4.957 |
3.954 |
3.817 |
3.276 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
0.006 |
|
|
|
TOTAL |
4.957 |
3.954 |
3.817 |
3.282 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Cost of Goods Sold |
3.996 |
3.076 |
2.416 |
1.790 |
|
|
|
Waving |
0.532 |
0.405 |
0.966 |
1.163 |
|
|
|
Salary and Bonus |
0.082 |
0.112 |
0.098 |
0.098 |
|
|
|
Bank Commission and Charges |
0.001 |
0.003 |
0.003 |
0.002 |
|
|
|
Machinery Maintenance |
0.012 |
0.010 |
0.005 |
0.003 |
|
|
|
Travelling Expenses |
0.006 |
0.010 |
0.006 |
0.002 |
|
|
|
Other Expenses |
0.000 |
0.030 |
0.060 |
0.027 |
|
|
|
Loan Interests |
0.032 |
0.021 |
0.023 |
0.020 |
|
|
|
TOTAL |
4.661 |
3.667 |
3.577 |
3.105 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.296 |
0.287 |
0.240 |
0.177 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.002 |
0.002 |
0.002 |
0.003 |
|
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.294 |
0.285 |
0.238 |
0.174 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional)
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.93
|
7.21 |
6.24 |
5.30 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.93
|
7.21 |
6.24 |
5.31 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.16
|
11.73 |
18.31 |
14.86 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.25 |
0.24 |
0.22 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.51
|
1.09 |
0.34 |
0.46 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.59
|
1.57 |
11.85 |
2.35 |
LOCAL AGENCY FURTHER INFORMATION
PROJECT REPORT
COST
OF PROJECT
|
Particulars |
(Rs. In Millions) |
|
|
|
|
Power Looms – 14 Nos |
1.398 |
|
|
|
|
Total
|
1.398 |
MEANS OF FINANCE
COST
OF PROJECT
|
Particulars |
(Rs. In Millions) |
|
|
|
|
Liquid Surplus Available |
0.398 |
|
Term Loan |
1.000 |
|
|
|
|
Total
|
1.398 |
Subject is a proprietary concern of Mr. R Vadivel, is manufacturing clothes
from yarn. The unit is intending to undertake the weaving process by its own,
for which 14 nos of Auto Looms are needed. The proprietor is experienced in
this line of activity for past 20 years. The unit purchases yarn and weaves it
into cloth, which is sold in the market in and around salem. The demand for the
product is continuous one and hence the unit can gain momentum with its best
quality and competitive price. The unit is in need of a term loan of 1.000
Million to purchase machinery and cash credit limit of Rs1.000 Million, The
term loan is repayable in 60 monthly installments of 16,667/- each. Interest on
term loan is payable as and when due.
------------------------------------------------------------------------------------------------------------------------------
PROJECTED PROFITABILITY STATEMENT
(RS.
IN MILLIONS)
|
Years |
I |
II |
III |
IV |
V |
|
|
|
|
|
|
|
|
INCOME |
|
|
|
|
|
|
Sales |
6.000 |
6.600 |
7.260 |
7.986 |
8.785 |
|
Weaving Receipts |
1.570 |
1.727 |
1.900 |
2.090 |
2.299 |
|
Closing Stock |
0.600 |
0.700 |
0.750 |
0.800 |
0.850 |
|
|
|
|
|
|
|
|
Total A |
8.170 |
9.027 |
9.910 |
10.876 |
11.934 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
Opening Stock |
0.430 |
0.600 |
0.700 |
0.750 |
0.800 |
|
Purchases (Yarn and Sarees) |
4.312 |
4.743 |
5.217 |
5.739 |
6.313 |
|
Wages |
2.107 |
2.318 |
2.550 |
2.805 |
3.086 |
|
Power |
0.036 |
0.040 |
0.044 |
0.048 |
0.053 |
|
Repairs and Maintenance |
0.090 |
0.099 |
0.109 |
0.120 |
0.132 |
|
Telephone Expenses |
0.012 |
0.013 |
0.014 |
0.015 |
0.017 |
|
Travelling Expenses |
0.024 |
0.026 |
0.029 |
0.032 |
0.035 |
|
General Expenses |
0.018 |
0.020 |
0.022 |
0.024 |
0.026 |
|
Price Cheaking and darning |
0.050 |
0.055 |
0.061 |
0.067 |
0.074 |
|
Depreciation |
0.210 |
0.178 |
0.152 |
0.129 |
0.109 |
|
Salary and Bonus |
0.180 |
0.200 |
0.220 |
0.240 |
0.260 |
|
Interest on Term Loan |
0.111 |
0.086 |
0.061 |
0.036 |
0.011 |
|
Interests on CC Loan |
0.100 |
0.120 |
0.120 |
0.120 |
0.120 |
|
|
|
|
|
|
|
|
Total B |
7.680 |
8.498 |
9.299 |
10.125 |
11.036 |
|
|
|
|
|
|
|
|
Profit Before Taxation (A-B) |
0.490 |
0.529 |
0.611 |
0.751 |
0.898 |
|
|
|
|
|
|
|
|
Less: Income tax provision |
0.033 |
0.037 |
0.045 |
0.059 |
0.074 |
|
|
|
|
|
|
|
|
Profit After Taxation |
0.490 |
0.492 |
0.566 |
0.692 |
0.824 |
|
|
|
|
|
|
|
|
Add: Depreciation |
0.210 |
0.178 |
0.152 |
0.129 |
0.109 |
|
Interests on Term Loan |
0.111 |
0.086 |
0.061 |
0.036 |
0.111 |
|
|
|
|
|
|
|
|
Less: Drawings |
0.060 |
0.080 |
0.100 |
0.120 |
0.140 |
|
|
|
|
|
|
|
|
Net Cash
Accruals - Total C |
0.751 |
0.676 |
0.679 |
0.737 |
0.804 |
|
|
|
|
|
|
|
|
Interests on Term Loan |
0.111 |
0.086 |
0.061 |
0.036 |
0.011 |
|
Repayment of Term Loan |
0.200 |
0.200 |
0.200 |
0.200 |
0.200 |
|
|
|
|
|
|
|
|
Repayment
Obligation - Total D |
0.311 |
0.286 |
0.261 |
0.236 |
0.211 |
|
|
|
|
|
|
|
|
DSCR C/ D |
2.41 |
2.36 |
2.60 |
3.12 |
3.81 |
|
|
|
|
|
|
|
|
DSCR (Average) |
2.86 |
||||
------------------------------------------------------------------------------------------------------------------------------
CASH FLOW STATEMENT
(RS.
IN MILLIONS)
|
Years |
I |
II |
III |
IV |
V |
|
|
|
|
|
|
|
|
SOURCES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Profit After Tax |
0.490 |
0.492 |
0.566 |
0392 |
0.824 |
|
|
|
|
|
|
|
|
Depreciation |
0.210 |
0.178 |
0.152 |
0.129 |
0.109 |
|
|
|
|
|
|
|
|
Term Loan |
1.000 |
Nil |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
|
Increase in CC Limit |
1.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL A |
2.700 |
0.670 |
0.718 |
0.821 |
0.933 |
|
|
|
|
|
|
|
|
APPLICATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Machineries |
1.398 |
Nil |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
|
Increase in Stock |
0.167 |
0.100 |
0.050 |
0.050 |
0.050 |
|
|
|
|
|
|
|
|
Decrease in Sundry Creditors |
0.347 |
0.150 |
0.100 |
0.050 |
0.025 |
|
|
|
|
|
|
|
|
Increase in Receivables |
0.273 |
0.100 |
0.100 |
0.100 |
0.100 |
|
|
|
|
|
|
|
|
Deposits and Advances |
0.175 |
0.025 |
0.050 |
0.075 |
0.100 |
|
|
|
|
|
|
|
|
Repayment of Term Loan |
0.200 |
0.200 |
0.200 |
0.200 |
0.200 |
|
|
|
|
|
|
|
|
Drawings |
0.060 |
0.080 |
0.100 |
0.120 |
0.140 |
|
|
|
|
|
|
|
|
Total B |
2.620 |
0.655 |
0.600 |
0.595 |
0.615 |
|
|
|
|
|
|
|
|
Opening Balance |
0.129 |
0.209 |
0.224 |
0.392 |
0.618 |
|
|
|
|
|
|
|
|
Add: Surplus / Deficit A-B) |
0.080 |
0.015 |
0.168 |
0.226 |
0.318 |
|
|
|
|
|
|
|
|
Closing Balance |
0.209 |
0.224 |
0.392 |
0.618 |
0.936 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BALANCE SHEET
(RS.
IN MILLIONS)
|
Years |
I |
II |
III |
IV |
V |
|
SOURCES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital |
1.804 |
2.216 |
2.682 |
3.254 |
3.937 |
|
|
|
|
|
|
|
|
Loan from Relatives |
0.181 |
0.181 |
0.181 |
0.181 |
0.181 |
|
|
|
|
|
|
|
|
Term Loan |
0.800 |
0.600 |
0.400 |
0.200 |
0.000 |
|
|
|
|
|
|
|
|
CC Limits |
1.000 |
1.000 |
1.000 |
1.000 |
1.000 |
|
|
|
|
|
|
|
|
Sundry Creditors |
0.375 |
0.225 |
0.175 |
0.125 |
0.100 |
|
|
|
|
|
|
|
|
Total A |
4.160 |
4.222 |
4.438 |
4.760 |
5.218 |
|
APPLICATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
WDV of Fixed Assets |
1.914 |
1.736 |
1.584 |
1.455 |
1.345 |
|
|
|
|
|
|
|
|
Closing Stock |
0.600 |
0.700 |
0.750 |
0.800 |
0.850 |
|
|
|
|
|
|
|
|
Receivables |
1.260 |
1.360 |
1.460 |
1.560 |
1.660 |
|
|
|
|
|
|
|
|
Deposits and Advances |
0.177 |
0.202 |
0.252 |
0.327 |
0.427 |
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.209 |
0.224 |
0.392 |
0.618 |
0.936 |
|
|
|
|
|
|
|
|
Total B |
4.160 |
4.222 |
4.438 |
4.760 |
5.218 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE
SHEET
(RS.
IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2012 (Estimated)
|
31.03.2013 (Projected)
|
|
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.804 |
2.400 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1.804 |
2.400 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.181 |
1.600 |
|
|
2] Unsecured Loans |
|
1.800 |
0.000 |
|
|
TOTAL BORROWING |
|
1.981 |
1.600 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.785 |
4.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.914 |
1.735 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.600 |
0.700 |
|
|
Sundry Debtors |
|
1.260 |
1.400 |
|
|
Cash & Bank Balances |
|
0.209 |
0.090 |
|
|
Other Current Assets |
|
0.177
|
0.275 |
|
|
Loans & Advances |
|
0.000
|
0.000 |
|
Total
Current Assets |
|
2.246 |
2.465 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
0.375 |
0.200 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.375 |
0.200 |
|
|
Net Current Assets |
|
1.871 |
2.265 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.785 |
4.000 |
|
PROFIT
& LOSS ACCOUNT
(RS.
IN MILLIONS)
|
|
PARTICULARS |
|
31.03.2012 (Estimated)
|
31.03.2013 (Projected)
|
|
|
|
SALES |
|
|
|
|
|
|
|
Sales (Sarees) |
|
6.000 |
6.500 |
|
|
|
Other Income |
|
1.570 |
1.727 |
|
|
|
TOTAL |
|
7.570 |
8.227 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
4.142 |
4.730 |
|
|
|
Waving |
|
2.107 |
2.130 |
|
|
|
Electricity Charges |
|
0.036 |
0.000 |
|
|
|
Salary and Bonus |
|
0.180 |
0.183 |
|
|
|
Bank Commission and Charges |
|
0.008 |
0.010 |
|
|
|
Machinery Maintenance |
|
0.090 |
0.099 |
|
|
|
Travelling Expenses |
|
0.024 |
0.026 |
|
|
|
Other Expenses |
|
0.283 |
0.253 |
|
|
|
TOTAL |
|
6.870 |
7.431 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.700 |
0.796 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.210 |
0.178 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.490 |
0.618 |
|
------------------------------------------------------------------------------------------------------------------------------
INCOME ADJUSTED FOR INCOME TAX
(RS.
IN MILLIONS)
|
Net Profit : As per profit
and loss account |
|
0.285 |
|
|
|
|
|
Add:
Inadmissiables in Profit and Loss account |
|
|
|
Depreciation – Considered Separately |
|
0.002 |
|
|
|
0.287 |
|
Less:
Depreciated as per statement |
|
0.002 |
|
|
|
|
|
Business
Income for Income Tax |
|
0.285 |
|
|
|
|
|
STATEMENT OF TOTAL INCOME |
||
|
Status |
Individual |
|
|
|
|
|
|
Asst. Year |
2010-2011 |
|
|
|
|
|
|
Accounting Period |
01.04.2009
to 31.03.2010 |
|
|
|
|
|
|
House Property Income |
House at No.3/159-A,
K K Nagar, Edanganasalai – 637502, Salem District. |
|
|
|
|
|
|
Self Occupied – Annual Value |
|
Nil |
|
|
|
|
|
Business Income: Own: as per income adj.
Statement |
|
0.285 |
|
|
|
|
|
Other Sources Income: Amount Credited in Capital
Account is offered as income |
|
0.100 |
|
|
|
|
|
Total
|
|
0.295 |
|
Less: |
|
|
|
Deduction U/ S 80 U for Person with
disability |
0.050 |
|
|
Deduction U/s 80 C on LIP Payment |
0.070 |
0.120 |
|
|
|
|
|
TOTAL
INCOME FOR INCOME TAX |
|
0.175 |
|
LIP PAID |
(Rs. In Millions) |
|
(Rs. In Millions) |
|
|
|
|
|
|
23.07.2009 |
0.027 |
Income Tax |
0.001 |
|
12.10.2009 |
0.008 |
Education Cess |
0.000 |
|
11.02.2010 |
0.027 |
Tax Payable |
0.001 |
|
30.03.2010 |
0.008 |
Int. U/s 234 A |
0.000 |
|
|
|
|
|
|
Total |
0.070 |
Total |
0.002 |
|
|
|
|
|
|
|
|
140- A Paid |
0.002 |
|
|
|
|
|
|
|
|
Balance Payable |
Nil |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR.
RAJAMANICKAM
(RS.
IN MILLIONS)
ASSETS
IMMOVABLE
PROPERTY
|
Address of the Property with survey No./ Door No. |
227/1, SF 848/13 Edanganasalai |
|
|
|
|
Type of Property: Commercial/ Residential/ Agricultural |
Land and Building |
|
|
|
|
Area/ Extent of Land |
1744 sq. ft. |
|
|
|
|
Present Market/ Assessed
Value |
Rs.3.500
Millions |
|
TOTAL
ASSETS |
RS.3.500
MILLIONS |
|
NET WORTH |
RS.3.500
MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
PART
– I
GENERAL
DETAILS
|
Name of the title holder and Address |
Mr. Rajamanickam, S/o Marimuthu D. No; 3/159, New No: 159A, K. K. Nagar, Idanganasalai, Idangana Sali
Village, Sankari Tk, |
|
|
|
|
Purpose of Valuation |
To know the present market value |
|
|
|
|
Brief Description of the property |
Vacant land with RCC Residential House Building |
|
|
|
|
Date of Inspection |
21.03.2011 |
|
|
|
|
Date of Valuation |
29.04.2011 |
|
|
|
|
Approximate distance from the Branch to the property |
9 Km |
|
|
|
|
Situation /Location /brief Description of the land / site and brief
description of the building |
Natham S. F. No: 227/1, New S. F. No: 848/13, Idanganasali Village,
1.59-A, K K. Nagar, Idanganasali town Panchayth, Sankari Tk Magudanchavdi
Union, Salem Dt. |
|
|
|
|
Boundaries of the property |
|
|
Measurement |
Boundaries |
|
North South East West |
Plot no: 301 Plot no: 309 Plot no: 311 and Govt lands Kuppan Land and Road |
|
|
|
|
Total Extent of land as on document |
1744.00 sft |
|
|
|
|
Total Extent of land as on document |
55’ x 41’ = 2255.00 sft |
|
|
|
|
Property Tax Details |
Not produced my perusal |
|
|
|
|
Assuming the entire property is let out. the probable monthly Rent and
advance Building Rent |
Rs.2000/ month (approximately) |
|
|
|
|
Character of Locality |
Mixed area |
|
|
|
|
Classification |
Middle |
|
|
|
|
Development of surrounding Areas |
Slowly Developed |
|
|
|
|
Feasibility to the Civic amenities Like School, Hospital, Offices,
Markets etc |
By Transportation |
|
|
|
|
Nature of right, whether Lease hold / free hold |
Free hold |
|
|
|
|
Water Supply / Potentiality |
Available |
|
|
|
|
VALUATION DETAILS A. LAND |
|
|
The Total Area [Extent] of the Site / Land |
1744.00 sft |
|
|
|
|
Description of
the Site I Land |
|
|
Character of Locality |
Mixed Residential |
|
|
|
|
Classification |
Residential Area |
|
|
|
|
Development of surrounding Areas: |
Surrounding Areas are developed by Slowly |
|
|
|
|
Feasibility to the Civic amenities Like School, Hospital, Offices,
Markets etc |
Available with in 3 km Radius |
|
|
|
|
Shape of the Land |
Trapezium |
|
|
|
|
Type of use it which it can be put |
Residential only |
|
|
|
|
Any other restriction of usage |
No |
|
|
|
|
Nature of right, whether lease hold / free hold |
Free Hold |
|
|
|
|
Road Facility |
Panchayath Road Available on it’s West Side |
|
|
|
|
Is it a Comer Plot |
Yes |
|
|
|
|
Water Supply / Potentiality |
Yes, by bore well |
|
|
|
|
Prevailing Unit Market Rate |
Rs.300/- sft |
|
|
|
|
Unit Rate adopted in this valuation |
Rs.200/ sft. |
|
|
|
|
Valuation of the site/ Land |
1744 x Rs.200: Rs.0.349 Millions |
|
|
|
|
B. BUILDING |
|
|
Type of construction |
Load nearing structure |
|
|
|
|
Quality of construction |
Normal |
|
|
|
|
Appearance of the Building |
Normal |
|
|
|
|
Maintenance of the Building |
Normal |
|
|
|
|
Description of the Building |
RCC Flat Roof in G Floo and F Floor |
|
|
|
|
Foundation |
LBW Structure RR Masonry in Mud and C M |
|
|
|
|
Superstructure |
Brickwork in cm |
|
|
|
|
Roof |
RCC Fiat and AC Sheet Lean to roof |
|
|
|
|
Doors & Windows |
Country wood and steel joineries |
|
|
|
|
Sanitary Fittings |
IWC with Septic Tank Provided |
|
|
|
|
Flooring |
Marble Flooring |
|
|
|
|
Electricity Supply |
Provided |
|
|
|
|
Total Life of the Building Estimated |
45 years |
|
|
|
|
DETAILS OF BUILDING |
|
|
Considering the
materials used for Construction, Amenities available, Road Approach. Water
and Electricity the following rates were adopted. |
|
VALUATION
DETAILS
|
Description of the Building |
Area in Sft. |
Rate/ Sft. |
Present Construction cost (Rs. In Millions) |
|
|
|
|
|
|
RCC House Ground
Floor |
1328.25 |
1200 |
1.594 |
|
RCC House F.
Floor |
480.56 |
1100 |
0.529 |
|
|
|
|
|
|
Total cost of the RCC roof Building |
2.123 |
||
|
Description of the Building |
Age of the Building A |
Residual age of the Building B |
Depreciation percentage A/ (A+B) x (100-F) C |
Present construction cost of the Building D |
Depreciated Value of the building D x (100-C)/
100 |
|
|
|
|
|
|
|
|
Total cost of
the RCC roof Building |
-- |
40 |
10 |
2.123 |
1.910 |
|
|
|
|
|
|
|
|
Total Depreciated value of the RCC roof Building |
1.910 |
||||
TOTAL VALUATION
|
Value of the Land |
Rs.0.349 Million |
|
|
|
|
Value of the Building |
Rs.1.910 Millions |
|
|
|
|
Value of the Amenities |
|
|
Value of the Electrification |
Rs.0.020 Million |
|
Value of Septic Tank |
Rs.0.015 Million |
|
Value of Bore Well and OHT |
Rs.0.040 Million |
|
|
|
|
Total Value of
the Land and Building |
Rs.2.334
Millions |
|
|
|
|
Forced sale value of the Property |
Rs.1.751 Millions |
|
|
|
|
MARKETABILITY |
|
|
|
|
|
Present Marketability of the Land is |
Normal |
|
Present Marketability of the Building is |
Average |
------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCE:
· Vijailatha Tex, Vembadithalam
· V.P.S. Silks Private Limited, Elampillai
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.44.72 |
|
|
1 |
Rs.71.95 |
|
Euro |
1 |
Rs.64.79 |
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.