MIRA
INFORM REPORT
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Report Date : |
24.06.2011 |
IDENTIFICATION DETAILS
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Name : |
VIDARBHA HYGIENE PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
16.11.1994 |
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Com. Reg. No.: |
11-082975 |
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Paid-up Capital
: |
Rs. 1.000 Million |
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CIN No.: [Company Identification
No.] |
U74999MH1994PTC082975 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of tooth brushes, shaving brushes, combs tongue cleaner |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 22000 |
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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 a relatively small company having moderate track. Its scale
of activities are limited. 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : |
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Tel. No.: |
91-7104-221688 |
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E-Mail : |
DIRECTORS
As On 30.09.2010
|
Name : |
Mr. Harish Motichand Sariya |
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Designation : |
Director |
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Address : |
24/26 Jaldarshan |
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Date of Birth/Age : |
18.11.1943 |
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Date of Appointment : |
16.11.1994 |
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DIN No.: |
00519189 |
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Name : |
Mrs. Archana Sunil Sariya |
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Designation : |
Director |
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Address : |
C-2, |
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Date of Birth/Age : |
19.08.1973 |
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Date of Appointment : |
26.12.2008 |
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DIN No.: |
00520259 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
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Names of Shareholders |
|
No. of Shares |
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Harish Sariya and Bharat Sariya And Kirti Sariya |
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700 |
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Harish Sariya |
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2 |
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Harish Sariya and Kusum Sariya |
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823 |
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Bharat Sariya |
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2 |
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Bharat Sariya and Madhu Sariya |
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823 |
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Kirti Sariya and Sushma Sariya |
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1450 |
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Kusum Sariya and Harish Sariya |
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625 |
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Madhu Sariya and Bharat Sariya |
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625 |
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Sushma Kirti Sariya and Kirti Sariya |
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1650 |
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Manish Sariya and Anuja Sariya |
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825 |
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Sunil Sariya and Archana Sariya |
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325 |
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Sunil Sariya and Bharat Sariya |
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1000 |
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Anuja Sariya and Manish Sariya |
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825 |
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Archana Sunil Sariya and Sunil Bharat Sariya |
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325 |
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Total |
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10000 |
As On 10.03.2011
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Names of Shareholders |
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No. of Shares |
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Harish Motichand Sariya and Kusum Harish Sariya |
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1500 |
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Kusum Harish Sariya and Harish Motichand Sariya |
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2000 |
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Manish Harish Sariya and Anuja Manish Sariya |
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1000 |
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Anuja Manish Sariya and Manish Harish Sariya |
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500 |
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Bharat Motichand Sariya and Madhu Bharat Sariya |
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750 |
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Madhu Bharat Sariya and Bharat Motichand Sariya |
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2750 |
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Sunil Bharat Sariya and Archana Sunil Sariya |
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750 |
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Archana Sunil Sariya and Sunil Bharat Sariya |
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750 |
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Kirti Motichand Sariya and Sushma Kirti Sariya |
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2500 |
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Sushma Kirti Sariya and Kirti Motichand Sariya |
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2500 |
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Total |
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15000 |
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 : |
Manufacturer of tooth brushes, shaving brushes, combs tongue cleaner |
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PRODUCTION STATUS (As On 31.03.2010)
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Particulars |
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Installed
Capacity |
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Tooth Brushes, Shaving Brushes, Comb and Tongue Cleaner |
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70000 |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
C R Sagseo and Company Chartered Accountant |
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Address : |
Prabha Niwas, Rahate Colony, |
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Tel. No.: |
91-7104-2424634/2447756/57 |
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Fax No.: |
91-7104-2447754 |
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Pan No.: |
AABFC9503D |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
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After 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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40000 |
Equity Shares |
Rs. 100/- each |
Rs. 4.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs. 100/- each |
Rs 2.500 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.693 |
4.153 |
5.068 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.693 |
5.153 |
6.068 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
(0.024) |
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2] Unsecured Loans |
0.500 |
0.805 |
1.290 |
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TOTAL BORROWING |
0.500 |
0.805 |
1.266 |
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DEFERRED TAX LIABILITIES |
0.314 |
0.390 |
0.508 |
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TOTAL |
6.507 |
6.348 |
7.842 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.432 |
4.276 |
5.400 |
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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 |
0.170 |
0.506 |
0.339 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.008 |
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Sundry Debtors |
7.375
|
5.648 |
4.903 |
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Cash & Bank Balances |
0.600
|
0.189 |
0.027 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.716
|
0.627 |
1.036 |
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Total
Current Assets |
8.691
|
6.464 |
5.974 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.911
|
1.896 |
1.896 |
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Other Current Liabilities |
3.875
|
2.991 |
1.916 |
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Provisions |
0.000
|
0.011 |
0.059 |
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Total
Current Liabilities |
5.786
|
4.898 |
3.871 |
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Net Current Assets |
2.905
|
1.566 |
2.103 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.507 |
6.348 |
7.844 |
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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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SALES |
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Income |
3.964 |
3.001 |
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Other Income |
0.379 |
0.257 |
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TOTAL (A) |
4.343 |
3.258 |
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Less |
EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
2.514 |
3.193 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.829 |
0.065 |
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Less |
FINANCIAL
EXPENSES (D) |
0.060 |
0.128 |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.769 |
(0.063) |
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Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
0.844 |
1.125 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.925 |
(1.188) |
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Less |
TAX (I) |
0.385 |
(0.273) |
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PROFIT AFTER TAX
(G-I) (J) |
0.540 |
(0.915) |
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Earnings Per
Share (Rs.) |
54.00 |
(91.50) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
12.43
|
(28.08) |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
23.34
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(39.59) |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.63
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(11.06) |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.23 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.10
|
1.11 |
0.85 |
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Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.32 |
1.54 |
LOCAL AGENCY FURTHER INFORMATION
Operating Results:
Due to the hard
efforts of the Directors, the Company's working resulted in the profit during
the year as compared to loss in the previous year. The present market
conditions Lire not favorable. The Directors are doing their best to meet with
the situation and are looking out for alternate avenues to improve the business
of the Company.
Form 8:
|
This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U74999MH1994PTC082975 |
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Name of the
company |
VIDARBHA HYGIENE PRODUCTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
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Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Deposit of Title Deeds |
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Date of
instrument Creating the charge |
15.10.2007 |
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Amount secured by
the charge |
Rs. 5.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
– Not Applicable Terms of
Repayment - Not Applicable Margin - Not
Applicable Extent and
Operation of the charge - Not Applicable |
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Short particulars
of the property charged |
The working
capital Limit sanctioned to Bombay Hygiene Private Limited is secured by
equitable mortgage of industrial shed in the name Vidarbha Hygiene Private
Limited at Plot no. D-102, MIDC, Industrial Area, |
Fixed Assets:
- Factory Shed
- Plant and
Machinery
- Electric
Installation
- Moulds, CAMS
and Cutters
- Furniture and
Fixture
- Computer
- Office
Equipments
- Air Cooler
and Air Conditioner
- Vehicles
(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.44.93 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.64.21 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
28 |
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.