MIRA
INFORM REPORT
|
Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
507, Embassy Centre, Nariman Point, Mumbai-400021, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of Incorporation : |
11.08.2003 |
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Reg. No.: |
BA 93750 |
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Capital
Investment/ Paid-up Capital: |
Rs. 104.606 Millions |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD10287E |
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PAN No.: [Permanent Account No.] |
AADFD7256Q |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Manufacturer of Reprocessed Granules. |
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No. of
Employees: |
Approximately 193 (Office 3, Factory 190) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed concern having satisfactory
track. Partners are reported as experienced, respectable and having
satisfactory means of their own. Trade relations are fair. Business is
active. Payments are reported as usually correct and as per commitments. The concern can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
507, Embassy Centre, Nariman Point, Mumbai-400021, |
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Tel. No.: |
91-22-22844137/ 38/ 40 /40502600/ 40502500/ 40502700 |
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Fax No.: |
91-22-22844167/ 66306418 |
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E-Mail : |
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Area : |
1200 sq.ft. (Owned by Group Company) |
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Factory : |
Survey No.444/1/6, Village Masat, Silvassa – 396230, Dadra |
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Tel. No.: |
91-260-6451276/ 6451299 |
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E-Mail : |
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Area : |
17000 sq.mtrs (Leased) |
PARTNERS
|
Name : |
Mr. Saurabh Goel |
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Designation : |
Partner |
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Address : |
B-5, Sterline Apartments, |
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Date of Birth/Age : |
27.12.1984 |
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Qualification : |
B.E. |
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Experience : |
10 Years |
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Name : |
Mr. Madhav Goel |
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Designation : |
Partner |
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Address : |
B-5, Sterline Apartments, |
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Date of Birth/Age : |
15.10.1987 |
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Qualification : |
BE |
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Experience : |
2 Years |
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|
Name : |
Mr. Gaurav Jain |
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Designation : |
Partner |
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Address : |
A-36, Sterling Apartment, |
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Date of Birth/Age : |
13.09.1979 |
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Qualification : |
B.E. |
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Experience : |
10 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Reprocessed Granules. |
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Products : |
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Terms : |
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Selling : |
Credit (15-30 Days) |
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Purchasing : |
Credit (30 Days) |
PRODUCTION STATUS AS ON
|
Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
|
Reprocessed Granules |
MT |
|
12000 |
10290 |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users and Manufacturers |
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No. of Employees : |
Approximately 193 (Office 3, Factory 190) |
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Bankers : |
A/c No. 6142
A/c No. 00012820000056 |
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Facilities : |
CC- Rs. 20.000 Millions, LC- Rs. 20.000 Millions and BG – Rs. 2.000
Millions (From Corporation Bank)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jayantilal Thakkar and Company Chartered Accountant |
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Address : |
111- (A), Mahatma Gandhi Road, Fort, Mumbai-400023, |
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Tel. No.: |
91-22-22658800/ 8900 |
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Fax No.: |
91-22-22658989 |
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E-Mail : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2011
|
Capital Investment : |
|
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Owned : |
Rs. 84.606 Millions |
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Borrowed : |
Rs. 20.000 Millions |
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Total : |
Rs. 104.606
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 Records.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.12.2010 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Partners’ Capital |
84.606 |
61.611 |
59.182 |
55.084 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
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NETWORTH |
84.606 |
61.611 |
59.182 |
55.084 |
|
|
LOAN FUNDS |
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|
|
|
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|
1] Secured Loans |
20.000 |
9.716 |
20.068 |
19.623 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
0.000 |
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|
TOTAL BORROWING |
20.000 |
9.716 |
20.068 |
19.623 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
104.606 |
71.327 |
79.250 |
74.707 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.183 |
10.752 |
6.067 |
6.569 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
1.000 |
0.728 |
0.727 |
1.124 |
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
86.528
|
87.748 |
91.207 |
45.177 |
|
|
Sundry Debtors |
62.760
|
64.966 |
62.723 |
45.262 |
|
|
Cash & Bank Balances |
10.110
|
3.720 |
6.330 |
15.026 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
5.475
|
13.496 |
6.961 |
6.851 |
|
Total
Current Assets |
164.873
|
169.930 |
167.221 |
112.316 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
|
70.000
|
105.615 |
90.656 |
42.242 |
|
|
Other Current Liabilities |
|
3.457 |
3.097 |
2.663 |
|
|
Provisions |
0.450
|
1.011 |
1.011 |
0.397 |
|
Total
Current Liabilities |
70.450
|
110.083 |
94.764 |
45.302 |
|
|
Net Current Assets |
94.423
|
59.847 |
72.457 |
67.014 |
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|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
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TOTAL |
104.606 |
71.327 |
79.250 |
74.707 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.12.2010 |
31.03.2010 |
31.03.2009 |
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|
SALES |
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|
|
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|
Income |
572.614 |
472.088 |
545.347 |
603.179 |
|
|
|
Other Income |
2.725 |
2.302 |
2.908 |
2.712 |
|
|
|
TOTAL |
575.339 |
474.390 |
548.255 |
605.891 |
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|
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|
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|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Decrease/ Increase in Stock |
7.603 |
[3.942] |
[31.462] |
12.030 |
|
|
|
Raw Materials Consumed |
498.174 |
429.817 |
521.583 |
516.406 |
|
|
|
Manufacturing, Administrative and Other Expenses |
15.379 |
10.160 |
14.386 |
12.870 |
|
|
|
Payment to personnel |
16.235 |
12.735 |
16.000 |
13.803 |
|
|
|
Administrative and Other Expenses |
4.257 |
2.630 |
3.187 |
2.355 |
|
|
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TOTAL |
541.648 |
451.400 |
523.694 |
557.464 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
33.691 |
22.990 |
24.561 |
48.427 |
|
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.250 |
0.815 |
0.939 |
1.219 |
|
|
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
32.441 |
22.175 |
23.622 |
47.208 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.017 |
0.000 |
5.647 |
11.236 |
|
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
|
25.424 |
22.175 |
17.975 |
35.972 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.12.2010 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.42
|
4.67 |
3.28 |
5.94 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.67
|
4.70 |
4.33 |
7.83 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.64
|
12.27 |
13.63 |
39.71 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.36 |
0.40 |
0.86 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.07
|
1.94 |
1.94 |
1.18 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.34
|
1.54 |
1.76 |
2.48 |
LOCAL AGENCY FURTHER INFORMATION
NETWORTH
STATEMENT
This is to certify that as per the information
given to them and documents produced before them by Mr. Gaurav Jain residing at
A-36, sterling Apartment, 38, Peddar Road, Mumbai-26, has Tangible Net Worth as
on March 31, 2010 is Rs. 725.270 Millions as per the summary given below.
MR. GAURAV JAIN
(Partner)
|
Assets |
Rs. In Millions |
|
Immovable
Property (Book Value) |
105.914 |
|
Jewellery and
Ornaments (as per book value) |
11.438 |
|
Investment in
Shares/ Mutual Funds / PPF/ LIC (at cost) |
352.534 |
|
Balance with
Partnership Firm (as per Closing Balance) |
141.949 |
|
Current Assets,
Loans and Advances (as per Book Value) |
11.951 |
|
Cash and Bank
Balances (as per book value) |
101.497 |
|
|
725.283 |
|
Less |
|
|
Liabilities |
|
|
Current
Liability |
0.013 |
|
|
6.010 |
|
Net Worth |
725.270 |
-----------------------------------------------------------------------------------------------------------------------------
NETWORTH
STATEMENT
This is to certify that as per the information
given to them and documents produced before them by Mr. Madhav Goel residing at
A-36, sterling Apartment, 38, Peddar Road, Mumbai-26, has Tangible Net Worth as
on March 31, 2010 is Rs. 32.307 Millions as per the summary given below.
MR. MADHAV GOEL
(Partner)
|
Assets |
Rs. In Millions |
|
Jewellery and
Ornaments (as per book value) |
5.254 |
|
Investment in
Shares/ Mutual Funds / PPF/ LIC (at cost) |
8.945 |
|
Balance with M/s
|
4.947 |
|
Balance with M/s
Polysil Pipes (as per Closing Balance) |
13.011 |
|
Current Assets,
Loans and Advances (as per Book Value) |
0.126 |
|
Cash and Bank
Balances (as per book value) |
0.024 |
|
Total |
32.307 |
|
Less |
|
|
Liabilities |
|
|
Current
Liability |
0.000 |
|
Total |
6.010 |
|
Net Worth |
32.307 |
-----------------------------------------------------------------------------------------------------------------------------
NETWORTH
STATEMENT
This is to certify that the followings is the
Net-Worth of Mr. Saurabh Goel Residing at B/5 sterling Apartments, 38,
MR. SAURABH GOEL
(Partner)
|
Assets |
Rs. In Millions |
|
Residential Flat |
134.559 |
|
Jewellery |
14.525 |
|
Furniture and
Fixtures |
0.185 |
|
Investment in
Share/ Mutual Funds/ PPF/ LIC (at Cost) |
28.697 |
|
Balance with
Partnership Firm |
98.475 |
|
Current Assets,
Loans and Advances |
17.852 |
|
Cash and Bank
Balances |
0.078 |
|
Total |
294.371 |
|
Less |
|
|
Liabilities |
|
|
Current
Liability |
0.725 |
|
Total |
6.010 |
|
Net Worth |
293.646 |
------------------------------------------------------------------------------------------------------------------------------
OPERATING STATEMENT
(Rs. in Millions)
|
Particulars |
31.03.2011 Next Year
Projected |
31.03.2012 Next Year
Projected |
|
1. GROSS SALES |
|
|
|
i) Domestic Sales |
572.614 |
601.245 |
|
ii) Export Sales |
0.000 |
0.000 |
|
Total |
572.614 |
601.245 |
|
|
|
|
|
2. Less: Excise Duty |
0.000 |
0.000 |
|
|
|
|
|
3. Net Sales (1-2) |
572.614 |
601.245 |
|
|
|
|
|
4. % age rise (+) or fall (-) in net sales
as compared to previous year |
5.00 |
5.00 |
|
|
|
|
|
5. Total |
572.614 |
601.245 |
|
|
|
|
|
6. COST OF SALES |
|
|
|
i) Raw Materials |
|
|
|
a) Imported |
0.000 |
0.000 |
|
b) Indigenous |
498.174 |
523.083 |
|
|
|
|
|
ii) Other Spares |
|
|
|
a) Imported |
0.000 |
0.000 |
|
b) Indigenous |
3.239 |
3.401 |
|
|
|
|
|
iii) Power and Fuel |
10.089 |
10.594 |
|
|
|
|
|
iv) Direct Labour (Factory wages and salaries) |
7.501 |
7.876 |
|
|
|
|
|
v) Other Manufacturing Expenses |
2.051 |
2.153 |
|
|
|
|
|
vi) Depreciation |
1.250 |
1.250 |
|
|
|
|
|
vii) SUB- TOTAL (i to vi) |
522.305 |
548.358 |
|
|
|
|
|
viii) Add: Opening Stocks in Process |
1.437 |
1.825 |
|
|
|
|
|
Sub Total |
523.742 |
550.183 |
|
|
|
|
|
ix) Deduct: Closing Stocks in process |
1.825 |
2.500 |
|
|
|
|
|
x) Cost of Production |
521.917 |
547.683 |
|
|
|
|
|
xi) Add: Opening Stock of Finished Goods |
52.991 |
45.000 |
|
|
|
|
|
Sub Total |
574.908 |
592.683 |
|
|
|
|
|
xii) Deduct: Closing Stock of Finished Goods |
45.000 |
45.000 |
|
|
|
|
|
xiii) Sub- Total (Total cost of Sales) |
529.908 |
547.683 |
|
|
|
|
|
7. Selling, General and Administrative
expenses |
11.190 |
11.749 |
|
|
|
|
|
8. SUB TOTAL (6+7) |
541.098 |
559.432 |
|
|
|
|
|
9. Operating Profit Before Interest (5-8) |
31.516 |
41.813 |
|
|
|
|
|
10. Interest |
1.800 |
1.800 |
|
a) On Term Loan |
0.000 |
0.000 |
|
b) On Working Capital |
1.800 |
1.800 |
|
c) Others |
0.000 |
0.000 |
|
|
|
|
|
11. Operating Profit After Interest (9-10) |
29.716 |
40.013 |
|
|
|
|
|
12. Add: Other non-operating income |
0.000 |
0.000 |
|
|
|
|
|
a) Claim and Commission |
0.000 |
0.000 |
|
b) Other Income |
2.725 |
2.725 |
|
c) Excess Provision on Doubtful Debts w/
back |
0.000 |
0.000 |
|
Sub- Total (Income) |
2.725 |
2.725 |
|
|
|
|
|
ii) Deduct : Other non-operating expenses |
|
|
|
|
|
|
|
a) Preliminary Expenses written off |
0.000 |
0.000 |
|
b) Loss on sale of assets |
0.000 |
0.000 |
|
|
|
|
|
Sub Total (Expenses) |
0.000 |
0.000 |
|
|
|
|
|
iii) Net of other non-operating income/
expenses (net of 12(i) and 12(ii)) |
2.725 |
2.725 |
|
|
|
|
|
13. Profit before tax/ loss (11+ 12(iii)) |
32.441 |
42.738 |
|
|
|
|
|
14. Provision for Taxes/ Defered Tax |
7.017 |
9.244 |
|
|
|
|
|
15. Net Profit/ Loss (13-14) |
25.424 |
33.494 |
|
|
|
|
|
16a. Equity/ Preference Dividend Paid |
0.000 |
0.000 |
|
|
|
|
|
16b. Profit Distribution |
0.000 |
19.627 |
|
|
|
|
|
17. Retained Profit (15-16) |
25.424 |
13.867 |
|
|
|
|
|
18. Retained Profit/ Net Profit (%) |
0.00% |
0.00% |
ANALYSIS OF BALANCE SHEET
(Rs. in Millions)
|
Particulars |
31.03.2011 Next Year
Projected |
31.03.2012 Next Year
Projected |
|
CURRENT LIABILITIES |
|
|
|
1. Short- term borrowing from Banks
(Including bills purchased, discounted and excess borrowings placed on
repayment basis) |
20.000 |
20.000 |
|
|
|
|
|
i) From Applicable bank |
20.000 |
20.000 |
|
|
|
|
|
ii) From Other Banks |
0.000 |
0.000 |
|
|
|
|
|
iii) (Of which BP and BD) |
0.000 |
0.000 |
|
|
|
|
|
Sub Total (A) |
20.000 |
20.000 |
|
|
|
|
|
2. Short term borrowings from others |
0.000 |
0.000 |
|
|
|
|
|
3. Sundry Creditors- import Material |
0.000 |
0.000 |
|
Sundry Creditors – Ind. Material |
67.500 |
70.875 |
|
|
|
|
|
4 a. Advance payment from customers/
deposits from dealers |
2.500 |
2.500 |
|
|
|
|
|
4 b. Advance against sale of assets |
0.000 |
0.000 |
|
|
|
|
|
5. Provision for taxation – deferred tax |
0.000 |
0.000 |
|
|
|
|
|
6. Dividend payable |
0.000 |
0.000 |
|
|
|
|
|
7. Other statutory Liabilities (due within one year) |
0.000 |
0.000 |
|
|
|
|
|
8. Deposits/ Installment of term loan/ DPGs/
debentures etc (Due within one year) |
0.000 |
0.000 |
|
|
|
|
|
9. Other current liabilities and provision
(due within one year) |
0.450 |
0.450 |
|
(Specify major items) |
|
|
|
Accrued Interest |
0.000 |
0.000 |
|
Expenses and Spares |
0.000 |
0.000 |
|
|
|
|
|
Sub Total (B) |
70.450 |
73.825 |
|
|
|
|
|
10. TOTAL CURRENT LIABILITIES (Total of 1 to 9) |
90.450 |
93.825 |
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
11. Debentures (Not maturing within one
year) |
0.000 |
0.000 |
|
|
|
|
|
12. Preference Shares (redeemablel after one
year) |
0.000 |
0.000 |
|
|
|
|
|
13. Term Loans (excluding installments
payable within one year) |
0.000 |
0.000 |
|
|
|
|
|
14. Deferred payment credits (excluding
installments due within one year) |
0.000 |
0.000 |
|
|
|
|
|
15. Term deposits (repayable after one year) |
0.000 |
0.000 |
|
|
|
|
|
16. Other Term Liabilities |
0.000 |
0.000 |
|
|
|
|
|
17. TOTAL TERM LIABILITIES (10+17) |
0.000 |
0.000 |
|
|
|
|
|
18. TOTAL OUTSIDE LIABILITIES (10+17) |
90.450 |
93.825 |
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
19. Partner’s Capital |
84.606 |
98.473 |
|
|
|
|
|
20. General Reserve |
0.000 |
0.000 |
|
|
|
|
|
21. Revaluation Reserve |
0.000 |
0.000 |
|
|
|
|
|
22. Other Reserve (Excluding provisions)
inter-division |
0.000 |
0.000 |
|
|
|
|
|
23. Surplus (+) or deficit (-) in Profit and
Loss Account |
0.000 |
0.000 |
|
|
|
|
|
24. NET WORTH |
84.606 |
98.473 |
|
|
|
|
|
25. TOTAL LIABILITIES (18+24) |
175.056 |
192.298 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
26. Cash and bank balance |
5.010 |
5.010 |
|
|
|
|
|
27. Investment (Other than long term
investment) |
|
|
|
|
|
|
|
i) Government and other trustee securities |
0.000 |
0.000 |
|
|
|
|
|
ii) Fixed Deposits with banks |
5.000 |
5.000 |
|
|
|
|
|
28 i) Receivables other than deferred and
exports (including bills purchased and discounted by banks) |
62.760 |
77.414 |
|
|
|
|
|
ii) Export receivables (including bills
purchased and discounted by banks) |
0.000 |
0.000 |
|
|
|
|
|
29. Installments of deferred receivables
(due within one year) |
0.000 |
0.000 |
|
|
|
|
|
30. Inventory |
|
|
|
i) Raw Materials (including stores and other
items used in the process of manufacture) |
|
|
|
|
|
|
|
a) Imported |
0.000 |
0.000 |
|
b) Indigenous |
38.803 |
37.500 |
|
|
|
|
|
ii) Stocks- in Process |
1.825 |
2.500 |
|
|
|
|
|
iii) Finished Goods |
45.000 |
45.000 |
|
|
|
|
|
iv) Other consumables spares |
|
|
|
|
|
|
|
a) Imported |
0.000 |
0.000 |
|
|
|
|
|
b) Indigenous |
1.000 |
1.000 |
|
|
|
|
|
31. Advances to suppliers of raw materials
and stores/ spares |
0.950 |
0.950 |
|
|
|
|
|
32. Advance payment of taxes |
0.000 |
0.000 |
|
|
|
|
|
33. Other current assets (specify major
items) |
4.525 |
4.525 |
|
|
|
|
|
34. TOTAL CURRENT ASSETS (Total of 26 to 33) |
164.873 |
178.899 |
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
35. Gross Block (Land and Building,
Machinery, Work-in-progress) |
18.843 |
23.309 |
|
|
|
|
|
36. Depreciation to date |
9.660 |
10.910 |
|
|
|
|
|
37. NET BLOCK (35-36) |
9.183 |
12.399 |
|
|
|
|
|
OTHER NON- CURRENT ASSETS |
|
|
|
|
|
|
|
38. Investments/ book debts/ advances/
deposits which are not current assets |
0.000 |
0.000 |
|
|
|
|
|
i) a) Investments in subsidiary companies/
affiliates |
0.000 |
0.000 |
|
|
|
|
|
b) Others |
|
|
|
|
|
|
|
ii) Advances to suppliers of capital goods
and contractors |
0.000 |
0.000 |
|
|
|
|
|
iii) Deferred receivables (maturity
exceeding one year) |
1.000 |
1.000 |
|
|
|
|
|
iv) Others |
0.000 |
0.000 |
|
|
|
|
|
39. Non-consumable stores and spares |
0.000 |
0.000 |
|
|
|
|
|
40. Other non-current assets |
0.000 |
0.000 |
|
|
|
|
|
41. TOTAL OTHER NON-CURRENT ASSETS (Total of 38 to 40) |
1.000 |
1.000 |
|
|
|
|
|
42. Intangible assets (patents, goodwill, preliminary
expenses, bad/ doubtful debts not provided for etc.) |
|
|
|
|
|
|
|
43. TOTAL ASSETS (Total of 34, 37, 41, 42) |
175.056 |
192.298 |
|
|
|
|
|
44. TANGIBLE NET WORTH |
84.606 |
98.473 |
|
|
|
|
|
45. NET working Capital ((17+24) – (37+41+42))
to tally with (34-10) |
74.423 |
85.074 |
|
|
|
|
|
46. Current Ratio (Item 34/ 10) |
1.82 |
1.91 |
|
|
|
|
|
47. Total Outside Liabilities/ Tangible Net
Worth (18/44) |
1.07 |
0.95 |
|
|
|
|
|
ADDITIONAL INFORMATION |
|
|
|
|
|
|
|
a) Arrears of depreciation |
Nil |
Nil |
|
|
|
|
|
b) Contingent liabilities |
|
|
|
|
|
|
|
i) Arrears of cumulative dividends |
0.000 |
0.000 |
|
|
|
|
|
ii) Gratuity liability not provided for |
0.000 |
0.000 |
|
|
|
|
|
iii) Disputed excise/ customs / tax/
liabilities |
0.000 |
0.000 |
|
|
|
|
|
iv) Other liabilities not provided for |
0.000 |
0.000 |
COMPARATIVE STATEMENT OF
CURRENT ASSETS AND CURRENT LIABILITIES
(Rs. in Millions)
|
Particulars |
31.03.2011 Next Year
Projected |
31.03.2012 Next Year
Projected |
|
A. CURRENT ASSETS |
|
|
|
1) Raw Materials (Including stores and other
items used process of manufacture) |
|
|
|
|
|
|
|
a) Imported |
0.000 |
0.000 |
|
(Months’ Consumption) |
0.000 |
0.000 |
|
|
|
|
|
b) Indigenous |
38.803 |
37.500 |
|
(Months’ Consumption) |
0.93 |
0.86 |
|
|
|
|
|
2. Other consumables Spares, Excluding those
included in 1 above |
|
|
|
|
|
|
|
a) Imported |
0.000 |
0.000 |
|
(Months’ Consumption) |
0.000 |
0.000 |
|
|
|
|
|
b) Indigenous |
1.000 |
1.000 |
|
(Months’ Consumption) |
3.70 |
3.53 |
|
|
|
|
|
3. Stocks- in process |
1.825 |
2.500 |
|
(Months’ Cost of Production) |
0.04 |
0.05 |
|
|
|
|
|
4. Finished Goods |
45.000 |
45.000 |
|
(Months’ Cost of Sales) |
1.02 |
0.99 |
|
|
|
|
|
5. Receivables other than exports and deferred
receivables (including bills purchased and discounted by bankers) |
62.760 |
77.414 |
|
Months’ domestic sales excluding deferred
payment sales |
1.32 |
1.55 |
|
|
|
|
|
6. Export receivables (Including bills
purchased and discount) |
0.000 |
0.000 |
|
Months’ export sales |
0.00 |
0.00 |
|
|
|
|
|
7. Advances to suppliers of raw materials
and stores/ spares, consumables |
0.000 |
0.000 |
|
|
|
|
|
8. Other current assets including cash and bank
balances and deferred receivables due within one year (Specify major items) |
15.485 |
15.485 |
|
|
|
|
|
9. TOTAL CURRENT ASSETS (To agree wit item 34 in form III) |
164.873 |
178.899 |
|
|
|
|
|
B. CURRENT LIABILITIES |
|
|
|
(Other than bank borrowings for working
capital) |
|
|
|
|
|
|
|
10. Creditors for purchase of raw materials,
stores and consumables spares Months’ purchase |
67.500 |
70.875 |
|
|
|
|
|
11. Advance from Customers |
2.500 |
2.500 |
|
|
|
|
|
12. Statutory Liabilities |
0.000 |
0.000 |
|
|
|
|
|
13. Other Current Liabilities (Specify Major Items) |
0.450 |
0.450 |
|
Short term borrowings |
-- |
-- |
|
Unsecured Loans |
-- |
-- |
|
Dividend Payable |
-- |
-- |
|
Installments of TL, DPG, Public Deposits,
Debentures etc. |
-- |
-- |
|
|
|
|
|
14. Total |
70.450 |
73.825 |
COMPUTATION OF MAXIMUM
PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(Rs. in Millions)
|
Particulars |
31.03.2011 Next Year
Projected |
31.03.2012 Next Year
Projected |
|
1. Total Current Assets |
164.873 |
178.899 |
|
|
|
|
|
2. Other Current Liabilities (Other than
bank borrowings) |
70.450 |
73.825 |
|
|
|
|
|
3. Working Capital Gap (WCG) (1-2) |
94.423 |
105.074 |
|
|
|
|
|
4. Minimum stipulated net working capital
i.e. 25% of WCG/ 25% of total Current assets as the case may be depending
upon the method lending being applied (Export Receivables to be excluded under
both methods) |
41.218 |
44.725 |
|
|
|
|
|
5. Actual/ projected net working Capital |
74.423 |
85.074 |
|
|
|
|
|
6. Item 3 minus Item 4 |
53.205 |
60.349 |
|
|
|
|
|
7. Item 3 minus Item 5 |
20.000 |
20.000 |
|
|
|
|
|
8. Maximum Permissible Bank Finance (Item 6
or 7 whichever is lower) |
20.000 |
20.000 |
|
|
|
|
|
9. Excess borrowings representing shortfall
in NWC (4-5) |
[33.205] |
[40.349] |
FUNDS FLOW STATEMENT
(Rs. in Millions)
|
Particulars |
31.03.2011 Next Year
Projected |
31.03.2012 Next Year
Projected |
|
1. SOURCES |
|
|
|
a) Net Profit (after tax) |
0.000 |
0.000 |
|
b) Depreciation |
1.250 |
1.250 |
|
c) Increase in Capital |
25.424 |
13.867 |
|
c1) Share Premium/ reserve |
0.000 |
0.000 |
|
d) Increase in Term Liabilities (Including Public deposits) |
0.000 |
0.000 |
|
e) Increase in Deferred Tax |
[0.272] |
0.000 |
|
ii) Other non-current assets |
0.000 |
0.000 |
|
f) Others (Preliminary and Preoperative
Expenses) |
0.000 |
0.000 |
|
g) TOTAL |
26.402 |
15.117 |
|
|
|
|
|
2. USES |
|
|
|
a) Net Loss |
0.000 |
0.000 |
|
b) Decrease in Capital |
0.000 |
0.000 |
|
c) Increase in Fixed assets |
4.367 |
4.466 |
|
c1) Investment |
0.000 |
0.000 |
|
ii) Other non-current assets |
0.000 |
0.000 |
|
d) Dividend payments |
0.000 |
0.000 |
|
e) Others (Preliminary and Preoperative
Expenses) |
0.000 |
0.000 |
|
f) TOTAL |
4.367 |
4.466 |
|
|
|
|
|
3. Long Term Surplus (+)/ Deficit (1-2) |
22.035 |
10.651 |
|
|
|
|
|
4. Increase/ Decrease in Current Assets (as
per details given below) |
[2.346] |
[14.026] |
|
|
|
|
|
5. Increase/ decrease in current liabilities
other than bank borrowings |
[24.313] |
3.375 |
|
|
|
|
|
6. Increase / decrease in working capital
gap |
21.967 |
10.651 |
|
|
|
|
|
7. Net Surplus (+)/ Deficit (-) (Difference
of 3 and 6) |
0.068 |
0.000 |
|
|
|
|
|
8. Increase/ Decrease in bank borrowings |
[0.068] |
0.000 |
|
|
|
|
|
INCREASE / DECREASE IN NET SALES |
27.267 |
28.631 |
PROJECTED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
1] Share Capital |
98.473 |
|
|
2] Share Application Money |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
|
|
NETWORTH |
98.473 |
|
|
LOAN FUNDS |
|
|
|
1] Secured Loans |
20.000 |
|
|
2] Unsecured Loans |
0.000 |
|
|
TOTAL BORROWING |
20.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
|
|
|
|
|
|
TOTAL |
118.473 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12.399 |
|
|
Capital work-in-progress |
0.000 |
|
|
|
|
|
|
INVESTMENT |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.000 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
85.900 |
|
|
Sundry Debtors |
77.414 |
|
|
Cash & Bank Balances |
10.110 |
|
|
Other Current Assets |
0.000 |
|
|
Loans & Advances |
5.475 |
|
Total
Current Assets |
178.899 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
Sundry Creditors |
|
|
|
Other Current Liabilities |
|
|
|
Provisions |
0.450 |
|
Total
Current Liabilities |
73.825 |
|
|
Net Current Assets |
105.074 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
|
|
|
|
|
|
TOTAL |
118.473 |
|
PROJECTED PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
Income |
601.245 |
|
|
|
Other Income |
2.725 |
|
|
|
TOTAL |
603.970 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Decrease/ Increase in Stock |
[0.675] |
|
|
|
Raw Materials consumed |
523.083 |
|
|
|
Manufacturing, Administrative and other Expenses |
16.148 |
|
|
|
Payment to Personnel |
16.790 |
|
|
|
Administrative and Other Expenses |
4.636 |
|
|
|
TOTAL |
559.982 |
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
43.988 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.250 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
42.738 |
|
|
|
|
|
|
|
Less |
TAX |
9.244 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
33.494 |
|
------------------------------------------------------------------------------------------------------------------------------
Fixed Assets
- Residential Flat
- Plant and Machinery
- Air Conditioners
- Electrical Installation
- Factory Equipments
- Furniture and Fixture
- Pipes and Fittings
- Computer
- Office Equipments
- Motor Car
- Vehicles
- Cycle
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.45.03 |
|
|
1 |
Rs.74.43 |
|
Euro |
1 |
Rs.64.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.