MIRA
INFORM REPORT
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Report Date : |
01.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHREE AMBICA INDUSTRIES PRIVATE LIMITED |
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Registered Office
: |
Block No.91, N.H. No.8, At Amboli, PO – Kathor, Taluka – Kamrej, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.11.2009 |
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Com. Reg. No.: |
04-058675 |
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CIN No.: [Company Identification
No.] |
U25202GJ2009PTC058675 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS10725B |
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PAN No.: [Permanent Account No.] |
AANCS5949Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Valve Bags, Sand Bags, HDPE Woven Bags and
Wide Round Woven Fabrics etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (16) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Yet to commence business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
As per last available financials, the company has not started its
commercial activities. Payment terms are not known. The company can be considered for business dealings on a secured trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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. Deval Kanaiya Lal Modi |
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Designation : |
Director |
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Contact No.: |
91-9898347272 |
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Date : |
21.02.2011 |
LOCATIONS
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Registered Office/ Factory : |
Block No.91, N.H. No.8, At Amboli, PO – Kathor, Taluka – Kamrej, |
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Tel. No.: |
91-2621-256271, 256771, 257376 |
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Mobile No.: |
91-9898347272 (Mr. Deval Modi) |
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Fax No.: |
91-2621-256286 |
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E-Mail : |
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Website : |
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Area : |
5000 sq ft |
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Location : |
Rented |
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Branch Office : |
Mahendra Complex, |
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Tel. No.: |
91-261-256271, 256771, 257376 |
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Fax No.: |
91-261-256286 |
DIRECTORS
As on 25.11.2010
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Name : |
Mr. Deval Kanaiya Lal Modi |
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Designation : |
Director |
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Address : |
Shree Ambica Sadan, At and P.O. Kholvad, Kamrej, |
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Date of Birth/Age : |
10.10.1985 |
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Date of Appointment : |
23.11.2009 |
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DIN No.: |
02777291 |
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Name : |
Mr. Nitesh Shraddhanand Modi |
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Designation : |
Director |
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Address : |
Shree Ambica Sadan, At and P.O. Kholvad, Kamrej, |
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Date of Birth/Age : |
07.05.1974 |
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Date of Appointment : |
23.11.2009 |
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DIN No.: |
02777425 |
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Name : |
Mr. Samir Rajendrabhai Modi |
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Designation : |
Director |
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Address : |
Opposite Zimkhana, At and P.O. Kholvad, Kamrej, |
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Date of Birth/Age : |
20.07.1973 |
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Date of Appointment : |
23.11.2009 |
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DIN No.: |
02777352 |
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Name : |
Mr. Satyam Yagnanand Modi |
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Designation : |
Director |
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Address : |
Shree Ambica Sadan, At and P.O. Kholvad, Kamrej, |
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Date of Birth/Age : |
22.07.1978 |
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Date of Appointment : |
23.11.2009 |
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DIN No.: |
02788392 |
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Name : |
Mr. Maheshkumar Vinodray Modi |
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Designation : |
Director |
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Address : |
Shree Ambica Sadan, At and P.O. Kholvad, Kamrej, |
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Date of Birth/Age : |
06.02.1958 |
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Date of Appointment : |
28.11.2009 |
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DIN No.: |
02857249 |
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Name : |
Mr. Saileshkumar Vinodray Modi |
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Designation : |
Director |
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Address : |
Shree Ambica Sadan, At and P.O. Kholvad, Kamrej, |
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Date of Birth/Age : |
19.06.1965 |
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Date of Appointment : |
28.11.2009 |
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DIN No.: |
02857267 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.11.2010
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Names of Shareholders |
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No. of Shares |
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Deval Kanaiya Lal Modi |
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2500 |
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Nitesh Shraddhanand Modi |
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2500 |
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Samir Rajendrabhai Modi |
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2500 |
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Satyam Yagnanand Modi |
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2500 |
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Total |
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10000 |
As on 25.11.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Valve Bags, Sand Bags, HDPE Woven Bags and
Wide Round Woven Fabrics etc. |
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Products : |
Tarpaulin and
Plastic Sheeting Flexible Intermediate
Bulk Container Polypropylene
Fabrics » Circular Woven Fabrics, Coated and Uncoated (Narrow width) » Wide Round-Woven Fabrics Coated and Uncoated » Flat Woven Fabrics Coated and Uncoated Polypropylene Bags » Laminated/Unlamented PP/HDPE Woven Bags » PP/HDPE Woven Bags and Sacks with/without Liner » Sand Bags » Valve Bags » Gusseted Bags |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End Users and OEM’s |
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No. of Employees : |
60 (In office – 20, In factory – 40) (Approximately) |
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Bankers : |
Dena Bank, Branch Kholwad, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Pary and Company Chartered Accountants (Partner - Mr. Akash Gaglani) |
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Address : |
8005-A, World Trade Centre, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
Expected Sales (2010-2011): Rs.100.000 millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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1.319 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.419 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.158 |
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TOTAL BORROWING |
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0.158 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.577 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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1.325 |
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Other Current Assets |
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0.000 |
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Loans, Advances & Deposits |
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0.025 |
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Total
Current Assets |
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1.350 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.000 |
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Other Current Liabilities |
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0.000 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.000 |
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Net Current Assets |
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1.350 |
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MISCELLANEOUS EXPENSES |
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0.227 |
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TOTAL |
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1.577 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.11 |
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Current Ratio (Current Asset/Current Liability) |
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0.00 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING RESULT:
The Company has no operation during the year.
TRADE REFERENCES:
·
Raj International
·
Sun Erection Private Limited
WEBSITE DETAILS:
PROFILE:
Subject is one of the most
dynamic, technology driven company, which offers tailor made packaging
solutions – complete range of polypropylene (PP) woven bags, polypropylene (PP)
woven sacks, high density polyethylene (HDPE) bags and sacks as well as woven
fabric.
While the corporate office is situated in Surat and have a state of the art
manufacturing unit located at Kamrej – considered to be sourcing base of PP/
HDPE woven sacks, woven fabrics and tarpaulin manufacturing industry,
worldwide.
With an installed capacity of 14 million bags per annum, they have vertically
integrated plant, fully equipped with latest models of extruder machines
besides circular weaing, cutting, stitching, sealing, printing and lamination
machines of brands Lohia, Arm Strong, Navjeevan and JP Industries respectively.
Besides, they also have an advanced R and D as well as quality control lab and
to ensure quality of the product, they conduct rigorous tests on parameters
like weight, tensile strength, UV protection and gauge etc.
The advanced machines and well-trained workforce enable them to execute all the
bulk orders with perfection and within stipulated time frame.
The endeavor is to design and develop reliable, durable and cost effective
packaging solutions for industries as diverse as Food Products, Animal Feed,
Chemicals and Fertilizers, Petro-chemicals, Engineering and Industrial Products
to Cement, Polymers and Retail industry – to name a few.
They ensure consistent quality, competitive pricing and on time delivery –
every time at any part of the world.
Infrastructure
Infrastructural facilities are a prerequisite to carry out the
manufacturing activities in the Ambica Industries. Emphasizing this, the Ambica
has given major thrust to develop the machinery facilities. The infrastructure
is backed by a strong in - house machines for manufacturing of various kinds of
woven sacks products.
To add to all these, the Manufacturing Division has a team of skilled
manpower to produce the best products in the country and well established vendor
base to meet the requirements.
It is equipped with a modern machine shop with a fleet of machines as below.
·
Tape line (Lohia Starlinger): capacity of 350kg/hr
·
Lamination Plant (J P Industries): capacity of
160kg/hr
·
Looms ( Lohia Starlinger ) : LSL 6 (10 units )
·
Looms (Lohia Starlinger ) : LSL 620 (4 Units)
·
4 Colour Flexo Graphic Printing Machine (Navjeevan)
·
Stitching Machines (Armstrong Gabbar)
·
Cutting Machines
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 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.45.18 |
|
|
1 |
Rs.72.79 |
|
Euro |
1 |
Rs.62.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
16 |
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.