MIRA
INFORM REPORT
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Report Date : |
04.03.2011 |
IDENTIFICATION DETAILS
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Name : |
FRIENDS PETROLEUM |
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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 : |
19.10.1994 |
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PAN No.: [Permanent Account No.] |
ABHPT3785F |
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Legal Form : |
Partnership concern with an unlimited liabilities of the partners. |
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Line of Business
: |
Trader of Petrol and Diesel of Indian Oil Corporation. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
No Complaint |
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Litigation : |
Clear |
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Comments : |
Subject seems to be an established concern having satisfactory track. Trade
relations are reported as fair. The networth statement and valuation report
provided seems to be acceptable. No complaints have been heard from the
indirect or market sources. It would be advisable to take adequate securities while dealing with
the subject. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Rameshbhai Vara |
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Designation : |
Manager |
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Contact No.: |
91-9898298078 |
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Date : |
12.02.2011 |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-286-2247310 |
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Mobile No.: |
91-9898298278 (Mr. Rameshbhai Vara) |
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E-Mail : |
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Website : |
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Area : |
96.60 (Leased) |
PARTNERS
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Name : |
Mr. Geetaben Torania |
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Designation : |
Partner |
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Address : |
Manoj, |
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Date of Birth/Age : |
47 Years |
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Experience : |
16 Years |
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Name : |
Mr. Pavanbhai Torania |
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Designation : |
Partner |
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Address : |
Manoj, |
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Date of Birth/Age : |
25 Years |
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Qualification : |
Graduate |
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Experience : |
3 Years |
KEY EXECUTIVES
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Name : |
Mr. Rameshbhai Vara |
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Designation : |
Manager |
BUSINESS DETAILS
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Line of Business : |
Trader of Petrol and Diesel of Indian Oil Corporation. |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
Approximately 12 (in Office) |
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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. Joshi and Company Chartered Accountant |
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Address : |
Near |
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Tel. No.: |
91-286-2246666 |
CAPITAL STRUCTURE
As on 31.03.2010
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Capital Investment : |
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Owned : |
Rs. 1.240 Millions |
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Borrowed : |
Rs. 1.514 Millions |
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Total : |
Rs. 2.754
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.240 |
1.114 |
0.995 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.240 |
1.114 |
0.995 |
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LOAN FUNDS |
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1] Secured Loans |
1.068 |
1.109 |
1.105 |
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2] Unsecured Loans |
0.446 |
0.047 |
0.047 |
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TOTAL BORROWING |
1.514 |
1.156 |
1.152 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.754 |
2.270 |
2.147 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.358 |
0.174 |
0.182 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.632 |
1.400
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1.105
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Sundry Debtors |
0.596 |
0.408
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0.715
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Cash & Bank Balances |
0.306 |
0.286
|
0.236
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Other Current Assets |
0.118 |
0.000
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0.029
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Loans & Advances |
0.002 |
0.002
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0.002
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Total
Current Assets |
1.654 |
2.096
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2.087
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.258 |
0.000
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0.122
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Other Current Liabilities |
0.000 |
0.000
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0.000
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Provisions |
0.000 |
0.000
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0.000
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Total
Current Liabilities |
0.258 |
0.000
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0.122
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Net Current Assets |
1.396 |
2.096 |
1.965 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.754 |
2.270 |
2.147 |
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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 |
35.609 |
27.327 |
26.837 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL (A) |
35.609 |
27.327 |
26.837 |
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Less |
EXPENSES |
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Cost of Goods |
34.702 |
26.485 |
26.274 |
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Salaries |
0.295 |
0.273 |
0.192 |
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Miscellaneous Expenses |
0.026 |
0.024 |
0.028 |
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Telephone Expenses |
0.024 |
0.019 |
0.015 |
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Office Expenses |
0.013 |
0.007 |
0.008 |
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Insurance |
0.005 |
0.007 |
0.007 |
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Other Expenses |
0.091 |
0.107 |
0.073 |
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TOTAL (B) |
35.156 |
26.922 |
26.597 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.453 |
0.405 |
0.240 |
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Less |
FINANCIAL
EXPENSES (D) |
0.198 |
0.218 |
0.230 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.255 |
0.187 |
0.010 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.069 |
0.007 |
0.008 |
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NET PROFIT (G) |
0.186 |
0.180 |
0.002 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.52
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0.66 |
0.01 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.52
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0.66 |
0.01 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.18
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7.93 |
0.09 |
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Return on Investment (ROI) (PBT/Networth) |
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0.15
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0.16 |
0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.43
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1.04 |
1.28 |
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Current Ratio (Current Asset/Current Liability) |
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6.41
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0.00 |
17.11 |
LOCAL AGENCY FURTHER INFORMATION
DUE DILIGENCE REPORT
BUSINESS
ACTIVITIES
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Profile (Nature of Activity) |
Trading |
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Product |
Petro Products |
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Premises ·
Owned ·
Leasehold (if so,
monthly rent to be stated) |
780 per Month |
PERSONAL
ASSETS OF THE PARTNER
|
Name |
Description of the Assets owned by them |
Amount (Rs. in
Millions) |
Whether Offered
as Security |
|
Geetaben Torania |
1. Residential Property |
3.000 |
Yes |
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2. Residential Property |
0.750 |
Yes |
INSURANCE
DETAILS
|
Unit’s Assets Covered |
Policy No./ Cover Note |
Validity |
Sum Assured |
Risk Covered |
|
Building, Goods, Machinery, Furniture,
Compound Wall |
3100001719 |
07.11.2011 |
Rs. 0.752 Million |
Fire, Cyclone Earthquake |
FINANCIAL
ANALYSIS
|
Last available financial statement (Year ended dd/mm/yyyy) |
31.03.2010 |
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Recent summary financials (upto a period not more than two months old) |
31.01.2011 |
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Debtors Position (At last month end- specify amount > 90
Days) |
Rs. 0.454 Million |
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Stock Position (at last month end) |
Rs. 1.384 Millions |
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Any other material development |
No. |
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Whether the critical ratios conforms to the
bench mark stipulation |
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VALUATION REPORT
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I. GENERAL INFORMATION |
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Name of the present owners and address |
Mrs. Geetaben Govindbhai Torania |
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Name/ s of the reported owner/ Name/ s of persons in whose |
Mrs. Geetaben Govindbhai Torania |
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Name/ s the property registered and address |
“Manoj”, |
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Purpose of Valuation |
For Bank Loan |
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Date of Inspection |
31.01.2011 |
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Date of Valuation |
02.02.2011 |
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Approximate distance from the branch to the
property |
1 km. |
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Situation/ location/ brief description of the
land/ site and brief description of the building |
The property is a residential building
facing sea on |
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Boundaries of the property |
East: Property of West: Road North: South: |
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Whether the building plans has been
approved? If yes, Date of approval, approving
authority, and whether the building has been constructed as per approved plan |
Yes, Permission No. 1/345 Dated 4-1-1982 and
Prem. No. 2/265, Dated – 5-1/1982 |
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If no, the reason for non-approval |
Yes |
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General Remarks (Revenue Description of the property) |
City S. W. No. 1, Sheet No. 47, Survey No.
2181 and 2180 |
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II. VALUATION DETAILS |
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A. LAND |
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The Total Area ( Extent) of the Site/ Land |
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Description of the site/ land |
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a. Character of locality |
Residential Locality |
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b. Classification |
Upper Class |
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c. Development of surrounding areas |
Developed |
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d. Is the locality subjected to Frequent
Flooding |
No. |
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e. Feasibility to the civic Amenities like
School, Hospital, Offices, Markets etc. |
Within 1 Km |
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f. shape of the land |
Rectangular |
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g. Type of use to which it can be put |
Residential |
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h. Any other restriction of usage |
No. |
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i. Nature of right, whether Leasehold/
Freehold |
Freehold |
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j. Road Facility |
Yes. Cement |
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k. Is it a corner plot |
Yes |
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L;Water Supply/ Potentiality |
Good |
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m. Underground sewerage system |
No. |
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n. Any other sentimental/ Social issue which
may affect the value |
-- |
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Prevailing unit market value |
Rs. 0.017 Million to Rs. 0.018 Million per
syd. |
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Unit Rate adopted in this valuation (Corner
plot) |
Rs. 0.018 Million per syd. |
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Valuation of the site/ land |
152 syd X Rs. 0.018 Million = Rs. 2.660
Millions |
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BUILDING |
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Type of Construction |
Load Baring |
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Quality Construction |
Good |
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Appearance of the Building |
Good |
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Maintenance of the Floor |
Good |
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TOTAL VALUATION |
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Valuation of the land |
Rs. 2.660 Millions |
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Valuation of the Building |
Rs. 1.042 Millions Total : Rs. 3.702 Millions Say------- Rs. 3.702 Millions |
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ANY OTHER REMARK |
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Fair Market Value |
Rs. 3.702 Millions |
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Realisable Market Value |
Rs. 3.332 Millions |
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Forced / Distress |
Rs. 2.962 Millions |
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VALUATION REPORT
|
I. GENERAL INFORMATION |
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Name of the present owners and address |
Damyantiben Bhanubhai Bhadrecha |
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Name/ s of the reported owner/ Name/ s of persons in whose |
Damyantiben Bhanubhai Bhadrecha |
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Name/ s the property registered and address |
Plot No. 24 Paiki Part C Paiki Part B, |
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Purpose of Valuation |
For Bank Loan |
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Date of Inspection |
22.01.2011 |
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Date of Valuation |
01.02.2011 |
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Approximate distance from the branch to the
property |
2 Kms. |
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Boundaries of the property |
East: Plot No. 24, Paiki Part C Paiki Part C
– West: Road North: Plot No. 24, Paiki Part C Paiki Part
A South: Plot No. 24 Paiki Part B |
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Whether the building plans has been
approved? If yes, Date of approval, approving
authority, and whether the building has been constructed as per approved plan |
Open Plot |
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|
General Remarks (Revenue Description of the property) |
Rev. Survey No. 2/9/13-A/1 and Survey No.
6/4 Paiki |
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II. VALUATION DETAILS |
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A. LAND |
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The Total Area ( Extent) of the Site/ Land |
111-56 Syd. 93-31 smt |
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Description of the site/ land |
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a. Character of locality |
Residential Locality |
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b. Classification |
Upper Middle Class |
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c. Development of surrounding areas |
Developed |
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d. Is the locality subjected to Frequent
Flooding |
No. |
|
e. Feasibility to the civic Amenities like School,
Hospital, Offices, Markets etc. |
Within 2 Kms |
|
f. shape of the land |
Rectangular |
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g. Type of use to which it can be put |
Residential |
|
h. Any other restriction of usage |
No. |
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i. Nature of right, whether Leasehold/
Freehold |
Freehold |
|
j. Road Facility |
Yes. |
|
k. Is it a corner plot |
No |
|
L;Water Supply/ Potentiality |
Good |
|
m. Underground sewerage system |
No. |
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n. Any other sentimental/ Social issue which
may affect the value |
-- |
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General Remarks |
This property is an open plot situated in This Road is connected with the road of
adjoining society. |
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Prevailing unit market value |
Rs. 0.007 to Rs. 0.009l Million / per syd. |
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Unit Rate adopted in this valuation (Corner
plot) |
Rs. 0.008 Million/ per syd |
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Valuation of the site/ land |
1411 syd X Rs. 0.008 Million = Rs. 0.888
Million |
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BUILDING |
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Type of Construction |
No Construction |
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TOTAL VALUATION |
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Valuation of the land |
Rs. 0.888 Million |
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Valuation of the Building |
No Construction Total : Rs. 0.888 Million |
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ANY OTHER REMARK |
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Fair Market Value |
Rs. 0.888 Million |
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Realisable Market Value |
Rs. 0.799 Million |
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Forced / Distress |
Rs. 0.710 Millions |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
I. GENERAL INFORMATION |
|
|
Name of the present owners and address |
Mrs. Geetaben Govindbhai Torania |
|
|
|
|
Name/ s of the reported owner/ Name/ s of persons in whose |
Mrs. Geetaben Govindbhai Torania |
|
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Name/ s the property registered and address |
Plot No. 6 Paiki Part-A, Deep Nagar, Behind Dr.
Ruparel’s Clinic, |
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|
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Purpose of Valuation |
For Bank Loan |
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|
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Date of Inspection |
25.01.2011 |
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|
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Date of Valuation |
02.02.2011 |
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|
|
|
Approximate distance from the branch to the
property |
2 kms. |
|
|
|
|
Situation/ location/ brief description of
the land/ site and brief description of the building |
This property is residential building
situated in Deep Naagar, Khapat |
|
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|
|
Boundaries of the property |
East: Plot No. 6 Paiki Part-B West: Rs.S. No. 45/1/2 paiki North: Plot No. 7 South: Road |
|
|
|
|
Whether the building plans has been
approved? If yes, Date of approval, approving
authority, and whether the building has been constructed as per approved plan |
Yes, Permission No. Nil Dated 01.02.2006 and
Khapat Gram Panchayat |
|
|
|
|
General Remarks (Revenue Description of the property) |
Rev. Survey No. 45/1/A/4 Plot No. 6 Paiki
Part A |
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|
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II. VALUATION DETAILS |
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A. LAND |
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The Total Area ( Extent) of the Site/ Land |
45-95 syd. 38-42 smt. |
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Description of the site/ land |
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a. Character of locality |
Residential Locality |
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b. Classification |
Upper Middle Class |
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c. Development of surrounding areas |
Developed |
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d. Is the locality subjected to Frequent Flooding |
No. |
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e. Feasibility to the civic Amenities like
School, Hospital, Offices, Markets etc. |
Within 2 Kms |
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f. shape of the land |
Rectangular |
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g. Type of use to which it can be put |
Residential |
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h. Any other restriction of usage |
No. |
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i. Nature of right, whether Leasehold/
Freehold |
Freehold |
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j. Road Facility |
Yes. Kacha Raod |
|
k. Is it a corner plot |
No |
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L;Water Supply/ Potentiality |
Good |
|
m. Underground sewerage system |
No. |
|
n. Any other sentimental/ Social issue which
may affect the value |
-- |
|
|
|
|
Prevailing unit market value |
Rs. 0.011 Million to Rs. 0.013 Million per
syd. |
|
|
|
|
Unit Rate adopted in this valuation (Corner
plot) |
Rs. 0.012 Million per syd. |
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|
|
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Valuation of the site/ land |
45 syd X Rs. 0.012 Million = Rs. 0.540
Million |
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BUILDING |
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Type of Construction |
Load Baring |
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Quality Construction |
Good |
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Appearance of the Building |
Good |
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Maintenance of the Floor |
Very Good |
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DESCRIPTION OF THE BUILDING |
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Foundation |
UCR Masonry |
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Superstructure |
Stone Masonry |
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Roof |
RCC slab |
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Doors |
Wooden |
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Windows |
Wooden |
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Sanitary Fittings |
Ceramic tiles and marble glazed tiles in toilet
block |
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Electricity Supply |
Concealed conduit type |
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Total Plinth Area |
Ground Floor: 446.32 sft. First Floor: 400.59 sft. Second Floor: 89.95 sft. Total: 936.86 sft. |
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Year of Construction |
2006 |
|
|
|
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Total Life of the building estimated |
55 to 60 Years |
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|
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Replacement rate of construction with the
existing conditions and specification |
Rs. 650/- per sft. |
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|
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Replacement Value |
936 X 650 = Rs. 0.608 Million |
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Depreciation Value at the rate of % |
@ 6% Rs. 0.037 Million |
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Present Value of the building |
Rs. 0.572 Million |
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TOTAL VALUATION |
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Valuation of the land |
Rs. 0.540 Million |
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|
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Valuation of the Building |
Rs. 0.572 Million Total : Rs. 1.112 Millions Say------- Rs. 1.112 Millions |
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ANY OTHER REMARK |
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Fair Market Value |
Rs. 1.112 Millions |
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|
|
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Realisable Market Value |
Rs. 1.001 Millions |
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Forced / Distress |
Rs. 0.890 Million |
OPERATING STATEMENT
(Rs. in Millions)
|
Particulars |
Estimates 2010-11 |
Projections 2011-12 |
Projections 2012-13 |
|
1. Domestic Sales |
66.800 |
76.820 |
88.343 |
|
2. Less: Excise Duty |
0.000 |
0.000 |
0.000 |
|
3. Net Sales (1-2) |
66.800 |
76.820 |
88.343 |
|
4. % age rise (+) or fall (-) in net sales
as compare to previous year |
187.59% |
115.00% |
115.00% |
|
5. Cost of Sales |
|
|
|
|
i) Purchase of Goods |
66.400 |
75.000 |
86.300 |
|
ii) Direct Expenses |
0.000 |
0.000 |
0.000 |
|
iii) Indirect Expenses |
0.341 |
0.392 |
0.451 |
|
iv) Wages and Salaries and Staff Welfare |
0.650 |
0.748 |
0.860 |
|
v) Depreciation (WDV) |
0.060 |
0.054 |
0.049 |
|
SUB TOTAL ( i to iv) |
67.451 |
76.194 |
87.659 |
|
vi) Add: Opening stock of finished goods |
0.693 |
1.913 |
2.015 |
|
SUB TOTAL |
68.144 |
78.107 |
89.674 |
|
vii) Deduct Closing Stock of finished goods |
1.913 |
2.015 |
2.195 |
|
viii) SUB TOTAL (Total cost of sales) |
66.231 |
76.092 |
87.479 |
|
6. Selling, General and Administrative
Expenses |
0.000 |
0.000 |
0.000 |
|
7. SUB TOTAL (5+6) |
66.231 |
76.092 |
87.479 |
|
8. Operating Profit before Interest (3-7) |
0.569 |
0.728 |
0.864 |
|
9.
Interest |
0.170 |
0.312 |
0.312 |
|
On Term Loan |
0.000 |
0.000 |
0.000 |
|
On W/C |
0.170 |
0.312 |
0.312 |
|
On Deposits |
0.000 |
0.000 |
0.000 |
|
10. Operating Profit after Interest (8-9) |
0.399 |
0.416 |
0.552 |
|
11 i) Add
other non- operating income |
0.000 |
0.000 |
0.000 |
|
Sub Total (Income) |
0.000 |
0.000 |
0.000 |
|
ii) Deduct other non- operating Expenses |
|
|
|
|
a) P and P w/o |
0.000 |
0.000 |
0.000 |
|
SUB TOTAL (Expenses) |
0.000 |
0.000 |
0.000 |
|
iii) Net of Other non –operating income/
expenses |
0.000 |
0.000 |
0.000 |
|
12. Profit Before Tax/ Loss (10+11(iii)) |
0.399 |
0.416 |
0.552 |
|
13. Payment for taxes |
0.040 |
0.042 |
0.055 |
|
14. Net Profit / Loss (12-13) |
0.359 |
0.375 |
0.497 |
|
15. Retained Profit/ Net Profit ( % age) |
100.00% |
100.00% |
100.00% |
|
16. Gross Profit/ Turnover |
2.43% |
2.50% |
2.52% |
|
17. Net Profit/ Turnover |
0.54% |
0.49% |
0.56% |
ANALYSIS OF BALANCE SHEET
(Rs. in Millions)
|
Particulars |
Estimates 2010-11 |
Projections 2011-12 |
Projections 2012-13 |
|
CURRENT LIABILITIES |
|
|
|
|
1. Short Term borrowings form banks (include
bills purchased, discounted and excess borrowings placed on re-payment basis) |
|
|
|
|
I) From applicant bank |
3.000 |
3.000 |
3.000 |
|
II) From Other banks |
0.000 |
0.000 |
0.000 |
|
III) For Which BP and BD |
0.000 |
0.000 |
0.000 |
|
SUB TOTAL ‘A’ |
3.000 |
3.000 |
3.000 |
|
2. Short term borrowings from others |
0.000 |
0.000 |
0.000 |
|
3. Sundry Creditors (Trade) |
1.291 (1/W) |
1.458 (1/W) |
1.678 (1/W) |
|
4. Advance payment form customers/ deposits
from dealers |
0.000 |
0.000 |
0.000 |
|
5. Provision for taxation |
0.040 |
0.042 |
0.055 |
|
6. Dividend payable |
0.000 |
0.000 |
0.000 |
|
7. Other Statutory liabilities (due within
one year)/ TDS |
0.000 |
0.000 |
0.000 |
|
8. Deposits/ Installments of term loans
DPGS/ Debentures, etc (due within one year) |
0.000 |
0.000 |
0.000 |
|
9. Other Current Liabilities and provisions
(Due within one year) |
0.000 |
0.000 |
0.000 |
|
SUB TOTAL ‘B’ |
1.331 |
1.500 |
1.733 |
|
10. TOTAL CURRENT LIABILITIES (Total
of 1 to 9) A +B |
4.331 |
4.500 |
4.733 |
|
|
|
|
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|
TERM LIABILIITES |
|
|
|
|
11. Debentures (not maturing within one
year) |
0.000 |
0.000 |
0.000 |
|
12. Preference Shares (Redeemable after one
year) |
0.000 |
0.000 |
0.000 |
|
13. Term Loan (excluding installments
payable within one year) |
0.000 |
0.000 |
0.000 |
|
14. Deferred payment credit excluding
installments due within one year |
0.000 |
0.000 |
0.000 |
|
15. Term Deposits (repayable after one year) |
0.446 |
0.346 |
0.246 |
|
16. Other Term (Bridge Loan) |
0.000 |
0.000 |
0.000 |
|
17. Total Term Liabilities (Total of 11 to
15) |
0.446 |
0.346 |
0.246 |
|
18. Total Outside Liabilities ( 10+17) |
4.777 |
4.846 |
4.979 |
|
NET WORTH |
|
|
|
|
19. Partner’s Capital Account Inclusive of
Profit |
3.654 |
3.939 |
4.345 |
|
20. Drawings in Capital Account |
0.090 |
0.090 |
0.120 |
|
24. NET WORTH |
3.564 |
3.849 |
4.225 |
|
25. Total Liabilities (18+24) |
8.341 |
8.695 |
9.205 |
|
|
|
|
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|
CURRENT ASSETS |
|
|
|
|
26. Cash and bank balances |
0.376 |
0.317 |
0.248 |
|
27. Investments (Other than long term
investment) |
|
|
|
|
i) Government and other Trustee Securities |
0.000 |
0.000 |
0.000 |
|
ii) Fixed deposits with banks |
0.000 |
0.000 |
0.000 |
|
28 i) Receivables other than deferred |
2.598 (14/D) |
2.987 (14/D) |
3.436 (14/D) |
|
ii) Export receivables (Including bills
purchased / discounted by banks |
0.000 |
0.000 |
0.000 |
|
29. Installment of deferred receivables (due
within one year) |
0.000 |
0.000 |
0.000 |
|
30. Inventory |
|
|
|
|
(I) Raw Materials |
|
|
|
|
a) Imported |
-- |
-- |
-- |
|
b) Indigenous |
0.000 |
0.000 |
0.000 |
|
(II) Stock-in- Process |
0.000 |
0.000 |
0.000 |
|
Finished Goods |
1.913 |
2.015 |
2.195 |
|
32. Advance payment of taxes |
0.000 |
0.000 |
0.000 |
|
33. Other current assets |
0.100 |
0.075 |
0.075 |
|
34. TOTAL CURRENT ASSETS (Total of 26 to 33) |
4.987 |
5.394 |
5.954 |
|
FIXED ASSETS |
|
|
|
|
35. NET BLOCK (35-36) |
1.297 |
1.243 |
1.194 |
|
|
|
|
|
|
OTHER NON- CURRENT ASSETS: |
|
|
|
|
38. Investments/ book debts/ advances/
deposits/ which are not Current Assets |
|
|
|
|
(I) a) Investments in subsidiary companies/ affiliates |
0.000 |
0.000 |
0.000 |
|
b) Others |
2.057 |
2.057 |
2.057 |
|
(II) Deferred receivables (Maturity
exceeding one year) |
-- |
-- |
-- |
|
(iii) Others |
-- |
-- |
-- |
|
39. Non- Consumables stores and spares |
-- |
-- |
-- |
|
40. Other non-current assets including due
from proprietor |
-- |
-- |
-- |
|
41. Total other non- current assets (Total
of 38 to 40) |
2.057 |
2.057 |
2.057 |
|
42. Intangible Assets (Patents, goodwill,
preliminary expenses, bad/doubtful debts not provided for etc.) |
0.000 |
0.000 |
0.000 |
|
43. TOTAL ASSETS (Total of 34, 37, 41 and 42) |
8.341 |
8.694 |
9.205 |
|
44. TANGIBLE NET WORTH (24-42) |
3.564 |
3.849 |
4.225 |
|
45. NET WORKING CAPITAL [(17+24) – (37+41+42)] to tally with (34-10) |
0.656 |
0.894 |
1.220 |
|
46. Current Ratio (Item 34/10) |
1.15 |
1.20 |
1.26 |
|
47. Total Outside liabilities/ Tangible Net
Worth (18/44) |
1.34 |
1.26 |
1.18 |
COMPARATIVE STATEMENT OF
CURRENT ASSETS AND CURRENT LIABILITIES
(Rs. in Millions)
|
Particulars |
Estimates 2010-11 |
Projections 2011-12 |
Projections 2012-13 |
|
A. CURRENT ASSETS |
|
|
|
|
1. Finished Goods |
1.913 |
2.015 |
2.195 |
|
2. Receivables other than export and deferred
receivables (including, bills purchased and discounted by bankers) |
2.598 |
2.987 |
3.436 |
|
Months domestic sales: Excluding deferred payment sales: |
(14/D) |
(14/D) |
(14/D) |
|
3. Export receivable (including bills purchased
and dic) months export sales: |
0.000 |
0.000 |
0.000 |
|
4. Advances to suppliers of raw materials
and stores / spares, consumables |
0.000 |
0.000 |
0.000 |
|
5. Other current assets including Cash and Bank
balances and deferred receivables due within one year |
0.476 |
0.392 |
0.323 |
|
6. TOTAL CURRENT ASSETS (To agree with item 34 ) |
4.987 |
5.394 |
5.954 |
|
B. CURRENT LIABILITIES: |
|
|
|
|
Other than bank borrowings for working
capital |
|
|
|
|
7. Creditors for purchase of raw materials
stores and consumables spares months purchase |
1.291 |
1.458 |
1.678 |
|
8. Advances from Customes |
0.000 |
0.000 |
0.000 |
|
9. Statutory Liabilities TL/TD |
0.000 |
0.000 |
0.000 |
|
10. Other current liabilities |
0.040 |
0.042 |
0.055 |
|
11. Total
(To agree with sub total B ) |
1.331 |
1.500 |
1.733 |
COMPARATIVE OF MAXIMUM
PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(Rs. in Millions)
|
Particulars |
Estimates 2010-11 |
Projections 2011-12 |
Projections 2012-13 |
|
1. Total Current Assets |
4.987 |
5.394 |
5.954 |
|
2. Other Current Liabilities (other than
bank borrowings) |
1.331 |
1.500 |
1.733 |
|
3. Working Capital GAP (1-2) |
3.656 |
3.894 |
4.220 |
|
4. Minimum stipulated net working capital
i.e. 15% of WCG |
0.548 |
0.584 |
0.633 |
|
5. Actual/ Projected networking capital |
0.656 |
0.894 |
1.220 |
|
6. Item 3 minus item 4 |
3.107 |
3.310 |
3.587 |
|
7. Item 3 minus item 5 |
3.000 |
3.000 |
3.000 |
|
8. Maximum permissible bank finance (item 6 to
7 whichever is lower) |
3.000 |
3.000 |
3.000 |
|
9. Excess borrowings representing short fall
in NWC |
NA |
NA |
NA |
FUNDS FLOW STATEMENT
(Rs. in Millions)
|
Particulars |
Estimates 2010-11 |
Projections 2011-12 |
Projections 2012-13 |
|
1. SOURCES: |
|
|
|
|
a) Net Profit (after tax) |
0.359 |
0.375 |
0.497 |
|
b) Depreciation |
0.060 |
0.054 |
0.049 |
|
c) Increase in Capital |
2.055 |
0.000 |
0.000 |
|
d) Increase in Term Liabilities |
0.000 |
0.000 |
0.000 |
|
e) Decrease in |
|
|
|
|
i) Fixed Assets |
0.000 |
0.000 |
0.000 |
|
ii) Other Non- Current Assets |
0.000 |
0.000 |
0.000 |
|
f) Other /subsidy |
0.000 |
0.000 |
0.000 |
|
g) P and P Expenses |
0.000 |
0.000 |
0.000 |
|
h) Total |
2.474 |
0.429 |
0.545 |
|
2. USES |
|
|
|
|
a) Net Loss |
0.000 |
0.000 |
0.000 |
|
b) Decrease in Term Liabilities |
0.000 |
0.100 |
0.100 |
|
c) Increase in: |
|
|
|
|
i) Fixed Assets |
0.000 |
0.000 |
0.000 |
|
ii) Other non-current assets |
2.055 |
0.000 |
0.00 |
|
d) Dividend payments/ Withdrawals |
0.090 |
0.090 |
0.120 |
|
e) Others (P and P) |
0.000 |
0.000 |
0.000 |
|
f) Total (a to e) |
2.145 |
0.190 |
0.220 |
|
3. Long Term Surplus (+)/ Deficit(-) (1-2) |
0.329 |
0.239 |
0.325 |
|
4. Increase/ Decrease in current liabilities
other than bank borrowings |
3.334 |
0.408 |
0.559 |
|
5. Increase/ Decrease in Current liabilities
other than bank borrowings |
1.072 |
0.169 |
0.233 |
|
6. Increase/ Decrease in working gap (4-5) |
2.262 |
0.239 |
0.326 |
|
7. Net Surplus / Deficit (Difference of 3
and 6) |
[1.933] |
0.000 |
0.000 |
|
8. Increase/ Decrease in Bank Borrowings (To
agree with 7) |
1.933 |
0.000 |
0.000 |
|
INCREASE/ DECREASE IN NET SALES |
31.191 |
10.020 |
11.523 |
|
|
|
|
|
|
Break –up of (4) |
|
|
|
|
i) Increase/ Decrease in Finished goods |
1.281 |
0.102 |
0.180 |
|
ii) Increase/ Decrease in Receivables |
|
|
|
|
a) Domestic |
2.002 |
0.390 |
0.448 |
|
b) Export |
0.000 |
0.000 |
0.000 |
|
iii) Increase / Decrease in Stores and
Spares |
0.000 |
0.000 |
0.000 |
|
iv) Increase/ Decrease in Other Current
Assets |
0.051 |
[0.084] |
[0.069] |
|
|
3.334 |
0.408 |
0.559 |
STATEMENT OF ASSETS AND
LIABILITIES
|
NAME OF LTHE APPLICANT |
MRS. GEETABEN G TORANIA |
|
|
|
|
NAME OF THE GUARANTOR |
MR. RAJESHBHAI H+AYABHAI MAN |
|
|
APPLICANT |
GUARANTOR |
|
IMMOVABLE PROPERTIES |
||
|
Address of the Property with Survey No./
Door No. etc. |
GIDC, Porbunder |
Off Azad Gas Godown, |
|
|
|
|
|
Description: Land/ Site/ Building |
-- |
Commercial Shop Total- 3 |
|
|
|
|
|
Whether free hold/ Lease hold |
Freehold |
Freehold |
|
|
|
|
|
Type of Property (Commercial/ Residential/ agricultural |
Residential |
Commercial |
|
|
|
|
|
Area/ Extent of Land |
50 sq.yards |
1200 sq.ft. |
|
|
|
|
|
Present Market/ Assessed Value |
Rs. 0.800 Million |
Rs. 2.000 Millions |
|
|
|
|
|
INVESTMENT IN BUSINESS VALUE |
||
|
Name of the company/ firm/ concern in which
investment is made |
Friends Petroleum |
Rs. 1.360 Millions |
|
|
|
|
|
Date of Investments |
1984 |
31.03.2010 |
|
|
|
|
|
Present Value of Investment |
Rs. 3.529 Millions |
1.360 Millions |
|
|
|
|
|
OTHER ASSETS |
||
|
Furniture and Fixtures |
Rs. 0.175 Million |
Rs. 0.100 Million |
|
Cash in hand |
Rs. 0.020 Million |
Rs. 0.010 Million |
|
Jewellery |
Rs. 0.150 Million |
Rs. 0.050 Million |
|
|
|
|
|
Total Value of Other Assets |
Rs. 0.345 Million |
Rs. 0.160 Million |
|
|
|
|
|
TOTAL ASSETS |
Rs. 4.674 Millions |
Rs. 3.520 Millions |
|
|
|
|
|
LIABILITIES |
Nil |
Nil |
|
|
|
|
|
NETWORTH |
4.674 Millions |
Rs. 3.520 Millions |
STATEMENT OF ASSETS AND
LIABILITIES
|
NAME OF THE APPLICANT |
DAMYANTIBEN BHANUBHAI BHADRECHA |
|
|
APPLICANT |
|
IMMOVABLE PROPERTIES |
|
|
Address of the Property with Survey No./
Door No. etc. |
Silver Part, Plot No. 24 |
|
|
|
|
Description: Land/ Site/ Building |
Land |
|
|
|
|
Whether free hold/ Lease hold |
Freehold |
|
|
|
|
Type of Property (Commercial/ Residential/ agricultural |
Residential |
|
|
|
|
Area/ Extent of Land |
111 sq.yard approximately |
|
|
|
|
Present Market/ Assessed Value |
Rs. 1.000 Million |
|
|
|
|
OTHER ASSETS |
|
|
Furniture and Fixtures |
Rs. 0.100 Million |
|
Cash in hand |
Rs. 0.050 Million |
|
Jewellery |
Rs. 0.225 Million |
|
|
|
|
Total Value of Other Assets |
0.375 Million |
|
|
|
|
TOTAL ASSETS |
Rs. 1.375 Millions |
|
|
|
|
LIABILITIES |
Nil |
|
|
|
|
NETWORTH |
Rs. 1.375 Millions |
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.44.96 |
|
|
1 |
Rs.73.37 |
|
Euro |
1 |
Rs.62.33 |
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.