MIRA INFORM REPORT
|
Report Date : |
06.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
CAUVERY BUILDTECH PRIVATE LIMITED |
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Registered
Office : |
New No. 2 Old No. 93, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.04.2002 |
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Com. Reg. No.: |
18-048732 |
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Capital Investment/
Paid-up Capital: |
Rs. 2.800
Millions |
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CIN No.: [Company Identification
No.] |
U74994TN2002PTC048732 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC04344E |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
The company is dealing in decorative materials both for the interior
and exteriors which includes numerous items of different varieties and
brands. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 25000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having track. Profitability of the
company appears to be low. However, trade relations are reported as fair. Business
is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
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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
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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 |
LOCATIONS
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Registered Office : |
New No. 2 Old No. 93, Luz Avenue, Mylapore, Chennai-600004, Tamilnadu,
India |
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Tel. No.: |
91-44-42108816 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Vasundara Sekar |
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Designation : |
Additional Director |
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Address : |
Flat No. C2 No. 5 and 6, Bhamini Terrace Bhemanna Garden Street,
Alwarpet, Chennai-600018, |
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Date of Birth/Age : |
07.07.1961 |
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Date of Appointment : |
29.12.2009 |
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DIN No.: |
02407340 |
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Name : |
Mr. Sekar Ramamoorthi |
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Designation : |
Managing Director |
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Address : |
Flat No. C-2, Bhamini Terrace No. 5 and 6, Bheemanna Garden Street,
Alwarpet, Chennai-600018, |
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Date of Appointment : |
09.04.2002 |
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DIN No.: |
01820422 |
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Name : |
Mrs. Vidya Subramanian |
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Designation : |
Director |
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Address : |
Flat No. C-2, Bhamini Terrace No. 5 and 6, Bheemanna Garden Street,
Alwarpet, Chennai-600018, |
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Date of Appointment : |
09.04.2002 |
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DIN No.: |
01930183 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
|
R Sekar |
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140000 |
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Vasundara Sekar |
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140000 |
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Total |
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280000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is dealing in decorative materials both for the interior
and exteriors which includes numerous items of different varieties and
brands. |
GENERAL INFORMATION
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Bankers : |
Central Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institute: |
Mahindra Finance Limited, # 37/3453, 3rd Floor, |
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Auditors : |
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Name : |
Chandran and Raman Chartered Accountant |
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Address : |
No.2, Paragon, Dr. Radhakrishnan Salai, |
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Tel. No.: |
91-44-28474667/ 28474775 |
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Fax No.: |
91-44-28473665 |
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E-Mail : |
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Website: |
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Enterprises owned or significantly influenced by key management
personnel or their relatives : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
300000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
|
|
280000 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.800
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.800 |
2.800 |
2.800 |
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2] Share Application Money |
0.700 |
0.700 |
0.700 |
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3] Reserves & Surplus |
2.762 |
2.212 |
1.697 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.262 |
5.712 |
5.197 |
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LOAN FUNDS |
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1] Secured Loans |
3.820 |
3.043 |
5.561 |
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2] Unsecured Loans |
0.367 |
1.392 |
1.891 |
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TOTAL BORROWING |
4.187 |
4.435 |
7.452 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.449 |
10.147 |
12.649 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.763 |
0.939 |
0.895 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.086 |
0.216 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.759
|
3.900 |
3.619 |
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Sundry Debtors |
13.868
|
20.820 |
18.963 |
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Cash & Bank Balances |
0.893
|
2.737 |
1.157 |
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Other Current Assets |
1.258
|
0.517 |
0.436 |
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Loans & Advances |
7.979
|
5.018 |
5.872 |
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Total
Current Assets |
28.757
|
32.992 |
30.047 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
18.689
|
23.453 |
17.562 |
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Other Current Liabilities |
0.049
|
0.221 |
0.731 |
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Provisions |
0.417
|
0.326 |
0.000 |
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Total
Current Liabilities |
19.155
|
24.000 |
18.293 |
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Net Current Assets |
9.602
|
8.992 |
11.754 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.451 |
10.147 |
12.649 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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TOTAL INCOME |
77.007 |
92.095 |
82.849 |
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Less |
TOTAL EXPENSES |
76.179 |
91.166 |
81.464 |
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PROFIT BEFORE
TAX |
0.828 |
0.929 |
1.385 |
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Less |
TAX |
0.277 |
0.415 |
0.594 |
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PROFIT AFTER TAX
|
0.551 |
0.514 |
0.791 |
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IMPORTS |
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Import Value |
0.709 |
Nil |
0.579 |
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TOTAL IMPORTS |
0.709 |
Nil |
0.579 |
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Earnings Per
Share (Rs.) |
1.97 |
-- |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.72
|
0.56 |
0.95 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.80
|
2.74 |
4.48 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.16 |
0.27 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.73
|
4.98 |
4.95 |
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Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.37 |
1.64 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered office of the company has been shifted from Flat No. C-2, Bamini Terrace, No. 5 and 6,
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90286583 |
|
Corporate
identity number of the company |
U74994TN2002PTC048732 |
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Name of the
company |
CAUVERY BUILDTECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Flat No. C-2,
Bamini Terrace, No. 5 and 6, Bheemanna Garden ST, Alwarpet, Chennai-600018,
Tamilnadu, India |
|
Type of charge |
Movable Property |
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Particular of
charge holder |
Central Bank of |
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Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement |
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Date of
instrument Creating the charge |
01.09.2007 |
|
Amount secured by
the charge |
Rs. 7.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per the terms
of credit sanction letter Terms of
Repayment As per the terms
of credit sanction letter Margin As per the terms
of credit sanction letter Extent and
Operation of the charge As per the terms
of credit sanction letter |
|
Short particulars
of the property charged |
Stocks, Book
Debts |
|
Particulars of
the present modification |
Enhancement from Existing
Limit To Rs. 7.500 Millions |
Fixed Assets:
- Ganapathi Prathista
- Furniture Fittings
- Plant and Machinery
- Office Equipments
- Computer
- Car
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.44.60 |
|
|
1 |
Rs.71.25 |
|
Euro |
1 |
Rs.64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.