MIRA
INFORM REPORT
|
Report Date : |
15.07.2011 |
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|
|
|
Tel. No.: |
91-22-22836468 |
IDENTIFICATION DETAILS
|
Name : |
VALLEE DE VIN PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shri Arihant Complex Building No I– 2, Gala No 3, Kopar Village, Thane
Bhiwandi Road, Mumbai – 421302, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
22.05.2006 |
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|
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Com. Reg. No.: |
11-162423 |
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Capital
Investment / Paid-up Capital : |
Rs.45.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15520MH2006PTC162423 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Wines |
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|
No. of Employees
: |
40 (Approximately) (8 – In Office + 32 – In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 moderate track. There appears
a huge accumulated losses being recorded by the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings on a secured 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) |
|
|
A1 |
A1 |
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|
|
|
|
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. Neeraj |
|
Designation : |
Director |
|
Date : |
14.07.2011 |
LOCATIONS
|
Registered Office : |
Shri Arihant Complex Building No I– 2, Gala No 3, Kopar Village, Thane
Bhiwandi Road, Mumbai – 421302, Maharashtra, India |
|
Tel. No.: |
91-22-22836468 |
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Fax No.: |
91-22-66301135 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
146, Atlanta Nariman Point, Mumbai – 400021, Maharashtra, India |
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Tel No.: |
91-22-22836468 |
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|
|
|
Factory : |
967 and 1024, Sanjegaon, Igatpuri – 422402, |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Ravinder Kumar Jain |
|
Designation : |
Managing Director |
|
Address : |
402-A, Bakhtawar, Opposite Colaba Post Office, Mumbai – 400005,
Maharashtra, India |
|
Date of Birth/Age : |
25.03.1947 |
|
Date of Appointment : |
01.04.2010 |
|
Email : |
|
|
|
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|
Name : |
Mr. Neeraj Deorah |
|
Designation : |
Director |
|
Address : |
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|
Date of Birth/Age : |
10.02.1979 |
|
Date of Appointment : |
22.05.2006 |
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|
|
|
Name : |
Mr. Deepak Roy |
|
Designation : |
Director |
|
Address : |
11 Rambha, |
|
Date of Birth/Age : |
25.12.1951 |
|
Date of Appointment : |
22.05.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Deepak Roy |
|
1500000 |
|
Savera Vincom Private Limited, India |
|
1008033 |
|
Neeraj Deorah |
|
25000 |
|
Suhrid Deorah |
|
75000 |
|
Amex Limited – Hong Kong |
|
391967 |
|
Ravinder Kumar Jain |
|
1500000 |
|
|
|
|
|
Total |
|
4500000 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
8.71 |
|
Directors or relatives of directors |
|
68.89 |
|
Other |
|
22.40 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Wines |
GENERAL INFORMATION
|
Suppliers : |
· Elite Creations · Janus International |
|
|
|
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
OEM’s |
|
|
|
|
No. of Employees : |
40 (Approximately) (8 – In Office + 32 – In Factory) |
|
|
|
|
Bankers : |
· Yes Bank 9th Floor, Nehru Centre, Discovery of India, Dr. Annie
Besant Road Branch, Worli, Mumbai – 400018, Maharashtra, India |
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|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company Chartered Accountant |
|
Address : |
Engineering Centre, 6th Floor, 9 Matthew Road, Opera House,
Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22-23671623 |
|
Fax No.: |
91-22-23671624 |
CAPITAL STRUCTURE
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
|
|
|
|
|
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 |
45.000 |
30.000 |
30.000 |
|
|
2] Share Application Money |
74.020 |
40.670 |
21.669 |
|
|
3] Reserves & Surplus |
5.000 |
2.500 |
0.000 |
|
|
4] (Accumulated Losses) |
(91.274) |
(15.703) |
0.000 |
|
|
NETWORTH |
32.746 |
57.467 |
51.669 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
63.011 |
60.175 |
47.702 |
|
|
2] Unsecured Loans |
42.200 |
37.400 |
0.000 |
|
|
TOTAL BORROWING |
105.211 |
97.575 |
47.702 |
|
|
DEFERRED TAX LIABILITIES |
15.354 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
153.311 |
155.042 |
99.371 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
121.045 |
111.523 |
86.777 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.021 |
0.015 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
5.826 |
4.174 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.767
|
31.539 |
0.000 |
|
|
Sundry Debtors |
15.485
|
4.915 |
15.074 |
|
|
Cash & Bank Balances |
11.752
|
0.565 |
0.183 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.473 |
|
|
Loans & Advances |
4.351
|
3.291 |
0.949 |
|
Total
Current Assets |
63.355
|
40.310 |
16.679 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
3.215 |
|
|
Other Current Liabilities |
|
|
0.111 |
|
|
Provisions |
0.217
|
0.217 |
5.162 |
|
Total
Current Liabilities |
31.110
|
18.842 |
8.488 |
|
|
Net Current Assets |
32.245
|
21.468 |
8.191 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
16.210 |
0.227 |
|
|
|
|
|
|
|
|
TOTAL |
153.311 |
155.042 |
99.369 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
44.402 |
36.654 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
57.451 |
(16.072) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
8.695 |
0.647 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
48.756 |
(16.719) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
5.635 |
4.662 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(54.391) |
(21.381) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
21.180 |
(5.678) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(75.571) |
(15.703) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(15.703) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(91.274) |
(15.703) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
0.893 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
NA |
1.461 |
|
|
|
Capital Goods |
|
NA |
2.925 |
|
|
TOTAL IMPORTS |
|
NA |
4.386 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(29.50)
|
(14.08) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.66)
|
(0.37) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.16
|
2.03 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04
|
2.14 |
1.97 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered office of the company has been shifted from Shri Arihant
Complex Building No 12, Gala No 3, Kopar Village, Thane Bhiwandi Road, Mumbai –
421302, Maharashtra, India, to the present address w.e.f. 14.09.2010.
REVIEW
OF OPERATIONS: -
During the financial year 2009-10 the Company has made net
loss before tax was Rs.54.391 Millions as compared to losses of Rs.21.381
Millions in previous year. The Board of Directors are hopeful of better results
in the coming financial year.
FORM 8:
|
This form is for |
Modification of
charge |
||||||
|
Charge
identification number of the modified |
10084087 |
||||||
|
Corporate
identity number of the company |
U15520MH2006PTC162423 |
||||||
|
Name of the
company |
VALLE DE VIN PRIVATE LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
Shri Arihant Complex Building No I– 2, Gala No 3, Kopar Village, Thane
Bhiwandi Road, Mumbai – 421302, Maharashtra, India |
||||||
|
Type of charge |
Book Debts Movable Property
(Not being pledge) Floating Charge Trademark |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
||||||
|
Date of
instrument Creating the charge |
20.11.2010 |
||||||
|
Amount secured by
the charge |
Rs.117.000
millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
– TL :2.50% below
YBL PLR prevailing from time to time CC/WCDL: Base rate plus 9% LC: 0.5%p.a. BG: 1%p.a. CC: Base rate
plus 5.5% Terms of
Repayment – TL: Tenor:
Interest Payment is monthly and the Principal Repayment will be made in 20
equal installments starting at the end of 24 months after first drawdown. CC: Tenor:12
months, Repayment: On demand, WCDL: Tenor: 6 months, Repayment: On demand LC- Usance:
Validity:6 months, Usance:6 months LC-Sight:
Validity:6 months BG: Tenor 12
months CC: Tenor:12
months, Repayment: On demand Margin – As per the
Agreement Extent and
Operation of the charge – Exclusive charge in
favour of YES Bank on Zampa brand of wine under classes 32 and 33. |
||||||
|
Short particulars
of the property charged |
Exclusive charge
on present and future moveable asset of the company. Including whole currant
asset raw material, Stock relating to P and M as per last agreement. Pledge of
"Zampa" Brand exclusively for Yes Bank Limited. |
||||||
|
|
Exclusive charge
cover additional facility for INR 52.000 Millions (Charge secured over charge
modified from Rs.65.000 Millions to Rs.117.000 Millions vide this agreement) and
Additional security provided is Pledge of "Zampa" Brand. Existing charge
exclusive charge on current assets and plant and machinery is now modified to
include Pledge of "Zampa" Brand |
FIXED ASSETS
·
Land
·
Plant and Machinery
·
Computer
·
Furniture and Fixtures
·
Office Equipment
·
Vehicles
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.44.59 |
|
|
1 |
Rs.71.07 |
|
Euro |
1 |
Rs.62.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
14 |
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.