1. Summary Information
|
|
|
Country |
|
|
Company Name |
A G GRANITES PRIVATE LIMITED |
Principal Name 1 |
Mr. Muthugounder Ramasamy |
|
Status |
Good |
Principal Name 2 |
Mrs. Shanti Ramasamy |
|
|
|
Registration # |
18-10232 |
|
Street Address |
S F No. 314,
Muthu Gounder Colony, Dharmapuri District, Harur – 636 903, Tamilnadu |
||
|
Established Date |
04.08.1998 |
SIC Code |
-- |
|
Telephone# |
91-4346-222555 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-4346-222666 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Monument Blocks |
|
|
# of employees |
-- |
Product Name 2 |
Granites Cuts |
|
Paid up capital |
Rs. 45,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors = 100 % |
Banking |
State Bank of |
|
Public Limited Corp. |
NO |
Business Period |
13 |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A
(57) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Assoc |
|
|
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
232,996,000 |
Current Liabilities |
13,595,000 |
|
Inventories |
78,597,000 |
Long-term Liabilities |
188,808,000 |
|
Fixed Assets |
109,509,000 |
Other Liabilities |
831,000 |
|
Deferred Assets |
0 |
Total Liabilities |
203,234,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
172,868,000 |
|
|
|
Net Worth |
217,868,000 |
|
Total Assets |
421,102,000 |
Total Liab. & Equity |
421,102,000 |
|
Total Assets (Previous Year) |
322,265,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
397,639,000 |
Net Profit |
46,331,000 |
|
Sales(Previous yr) |
278,043,000 |
Net Profit(Prev.yr) |
26,839,000 |
MIRA
INFORM REPORT
|
Report Date : |
03.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
A G GRANITES
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S F No. 314,
Muthu Gounder Colony, Dharmapuri District, Harur – 636 903, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
04.08.1998 |
|
|
|
|
Com. Reg. No.: |
18-10232 |
|
|
|
|
CIN No.: |
U1402TZ1998PTC010232 |
|
|
|
|
TAN No.: (Tax
Deduction & Collection Account No.) |
CHEA10474C |
|
|
|
|
PAN No.: (Permanent
Account No.) |
AABCA8182H |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of
Business : |
Manufacturer and Exporter
of Granites Cuts and Polished, Monument Blocks. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavorable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
|
|
|
|
|
|
Maximum Credit Limit : |
USD 871000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and a reputed company having fine track. Financial position of the
company appears to be sound. Trade relations are reported as fair. Business
is active. Payments are reported to be regular and as per commitments. The company can
be considered normal 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office : |
S F No. 314,
Muthu Gounder Colony, Dharmapuri District, Harur – 636 903, |
|
Tel. No.: |
91-4346-222555 /
222666 |
|
Fax No.: |
91-4346-222666 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Leased |
|
|
|
|
Mines : |
Dharampuri District,
Near |
|
|
|
|
Corporate
Office : |
Flat 2-AB 4th Block, Kences
Enclave , 1 - Ramakrishna Street, T. Nagar Chennai – 600017, Tamilnadu, India. |
|
Tel. No.: |
91- 44-28142333 / 28140999 |
|
Fax No.: |
91- 44-28140896 |
|
Email: |
|
|
Area : |
Rented |
|
|
|
|
Factory
(Harur) |
M G Colony, Harur - 636 903. |
|
Tel. No.: |
91- 4346 - 223999 / 222555 / 222266 |
|
Fax No.: |
91- 4346 222666 |
|
Email: |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Muthugounder Ramasamy |
|
Designation : |
Managing Director |
|
Address : |
M. G. Colony,
Dharmapuri District, Harur – 636 903,
Tamilnadu |
|
Date of Birth
: |
04.11.1954 |
|
Date of
Appointment : |
04.08.1998 |
|
Din : |
00573855 |
|
|
|
|
Name : |
Mrs. Shanthi Ramasamy |
|
Designation : |
Director |
|
Address : |
M. G. Colony, Dharmapuri
District, Harur – 636 903, Tamilnadu |
|
Date of Birth
: |
19.01.1964 |
|
Date of
Appointment : |
04.08.1998 |
|
Din : |
00573866 |
KEY EXECUTIVES
|
Name : |
Mr. T Murugan |
|
Designation : |
Company Secretary |
|
Address : |
22-E, Sri Subah Colony, |
|
Tel No. : |
91-44-2484775 |
|
Fax No. : |
91-9381035900 |
|
E Mail : |
MAJOR SHAREHOLDERS
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. M. Ramasamy |
|
2700000 |
|
Mrs. Shanti
Ramasamy |
|
1800000 |
|
Total |
|
4500000 |
As on 30.09.2010
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Granites cut and polished, Monument Blocks. |
|
|
|
|
Products : |
·
Granite Slabs ·
Stones ·
Marbles ·
Granite Monuments ·
Granite Sculbotors ·
Granites |
|
|
|
|
Exports : |
|
|
Countries : |
|
GENERAL INFORMATION
|
Bankers : |
·
State
Bank of ·
ICICI
Bank ·
HDFC
Bank |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
K. E. Sridharan and Company Chartered
Accountant |
|
Address : |
No. 10, GA Jains
Anasvara Apartments, |
|
Pan No. : |
ABHPS7393G |
|
|
|
|
Associates : |
Activity : Miners
And Manufacturers of Different Natural Products from the Earth. |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5,000,000 |
Equity Shares |
Rs.10/- Each |
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4,500,000 |
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 |
45.000 |
15.000 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
172.868 |
137.145 |
146.245 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
217.868 |
182.145 |
161.245 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
188.808 |
120.679 |
131.187 |
|
|
2] Unsecured
Loans |
0.000 |
0.000 |
0.000 |
|
TOTAL BORROWING
|
188.808 |
120.679 |
131.187 |
|
|
DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
406.676 |
302.824 |
292.432 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
109.509 |
89.652 |
52.064 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
78.597 |
95.860 |
98.102
|
|
|
Sundry Debtors
|
146.225 |
84.153 |
94.515
|
|
|
Cash & Bank Balances
|
19.856
|
16.640
|
20.002 |
|
|
Other Current Assets
|
9.458
|
2.592
|
0.581
|
|
|
Loans & Advances
|
57.457
|
33.368
|
40.496
|
Total Current Assets
|
311.593
|
232.613
|
253.696 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
Sundry Creditor
|
13.595
|
19.057 |
11.828 |
|
|
|
Other Current Liabilities
|
0.000
|
0.000
|
0.000 |
|
|
Provisions
|
0.831
|
0.384
|
1.500 |
Total Current Liabilities
|
14.426
|
19.441 |
13.328
|
|
Net Current Assets
|
297.167
|
213.172 |
240.368
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
406.676 |
302.824 |
292.432 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
397.639 |
278.043 |
244.194 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
350.476 |
250.820 |
224.925 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
47.163 |
27.223 |
19.269 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.832 |
0.384 |
0.213 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
46.331 |
26.839 |
19.056 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10 |
6 |
13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
11.65 |
9.65
|
7.80
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.20 |
8.45
|
6.30
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.15
|
0.12
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.93 |
0.77
|
0.90
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
21.60 |
11.97 |
19.03
|
LOCAL AGENCY FURTHER INFORMATION
OPERATION
The directors proudly submit that The company has achieved its estimated
turnover of Rs. 393.500 Millions and successfully earned an improved financial result
with a Net Profit of Rs. 47.200 Millions after providing depreciation of Rs.
16.500 Millions and before taxation.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90000994 |
|
Corporate
identity number of the company |
U14102TZ1998PTC010232 |
|
Name of the
company |
AG GRANITES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
SF No.314,
Muthugounder Colony, Harur, Dharmapuri - 636903, |
|
Type of charge |
Ø
Immovable property Ø
Book
Debts Ø
Movable
Property |
|
Particular of
charge holder |
State Bank of E-mail - mahendiran56@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
1. Supplemental
Agreement of hypothecation of Goods and Assets for Increase in the Overall
Limit. Form C-2-A 2. Supplemental
Agreement of Hypothecation of Goods and Assets for Increase in the Overall
Limit. Form-C-5 3. Letter
regarding the Grant of Individual Limits within the Overall Limit. Form C-5 4. EM
confirmation letters (2 Nos.) |
|
Date of
instrument Creating the charge |
25.03.2010 |
|
Amount secured by
the charge |
Rs. 219.600
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- As mentioned in the Attachment Terms of
Repayment – Working Capital:
Repayable on Demand. Term Loan: Repayable in 36 installments. First 35
installments of Rs.0.767 million each and the 36th installment of Rs.0.67
million commencing from July 2009 to June 2012 Margin – EPC-Stock of RM,
WIP, FG, Spares, Stores etc., : 25% BG (WC)
: 25% for disputed liability 100% LC (WC)
: 25% TL
: 30% Extent and
Operation of the charge - The Lease Hold Right of the immovable properties of
the Company, shall also to secure the Credit Facilities to an extent of
Rs.124.000 million granted to M/s Amman Granites, the details of which are
given by way of Attachment. Others -
Facilities Rs.in million EPC 60.00 Standby
limit 18.00 FDB Non LC 90.00 FBD LC 15.00 Term Loan 26.60 LC 07.00 BG 03.00 -------- Total 219.60 |
|
Short particulars
of the property charged |
The existing
charge on the entire Current Assets such as Stocks of RM, SIP, FG,
consumables, spares, stores & other Current Assets belonging to the
Company, shall continue to secure and; The existing charge on the Plant &
Machineries and other movable assets belonging to the Company, shall continue
and; Extension of Equitable Mortgage over the Lease Hold Rights of the
immovable properties of the Company, more fully described in the
"Attachment" shall continue to secure the present limit. |
|
Date of latest
modification prior to the present modification |
06.06.2009 |
|
Particulars of
the present modification |
By the present
modification, the overall limit has been enhanced from Rs.182.500 million to
219.600 million and secured by the entire Current Assets, Plant &
Machineries, other Movable Assets and Lease Hold Rights of the immovable
properties belonging to the Company shall continue to secured the present
enhanced limit. |
FIXED ASSETS
·
·
Building Work in Progress
·
Plant and Machinery
·
Furniture and Fittings
·
Electrical Fittings
·
Office Equipments and Other
·
Computer and Accessories
·
Vehicles
AS PER WEBSITE
Amman Granites profoundly stands for the monument
experts in
Today Amman Granites is regarded as the No. 1 monument specialist in the global monument market. In the uncompromising expectations of its beloved customers or constantly fulfilled in each and every aspect. The management's strong will coupled with a constant endeavor to produce nothing but the best has made it possible.
HISTORY
Subject was originally incorporated on 4th August, 1998 at
Dharmapuri District in Tamilnadu having Company Registration Number 40923. The
company transferred its Registered Office from Tamilnadu to Coimbatore w.e.f.
26th August, 2002 and a New Company Registration Number is 10232 of
Coimbatore ROC was obtained
Its product range is as under:-
Ø
Semi
Polished Granites
Ø
Polished
Granites
Ø
Raw
Granite Slabs
Ø
Marbles
Ø
Gypsum
Ø
Graphite
Ø
Soap—stone
Ø
Dolmite
Ø
Barite
Ø
Silica
Ø
Felspar
Ø
Other
Natural Products from the earth
It exports stones and other natural products. It imports machinery.
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.45.12 |
|
|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.62.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
57 |
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.