MIRA
INFORM REPORT
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Report Date : |
21.03.2011 |
IDENTIFICATION DETAILS
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Name : |
HAVELI MARBLE PRIVATE LIMITED |
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Registered
Office : |
B-7, RIICO Industrial Area, N.H.8, Sukher, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
26.07.1994 |
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Com. Reg. No.: |
17-008602 |
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CIN No.: [Company Identification
No.] |
U14101RJ1994PTC008602 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
JDHH00736B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 61000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are fair. Business is active. Payments are reported to be slow and
correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
B-7, RIICO Industrial Area, N.H.8, Sukher, |
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Tel. No.: |
91-294-2441290/ 2441363 |
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Fax No.: |
91-294-2440784 |
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E-Mail : |
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Website : |
DIRECTORS
As on 31.08.2010
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Name : |
Mr. Ghanshyam Singh Krishnawat |
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Designation : |
Managing Director |
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Address : |
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Date of Birth/Age : |
20.10.1956 |
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Date of Appointment : |
08.12.1995 |
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DIN No.: |
00037024 |
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Name : |
Mr. Veeram Dev Singh Krishnawat |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
08.01.1986 |
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Date of Appointment : |
30.08.2008 |
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DIN No.: |
00037067 |
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Name : |
Mr. Ameeta Shekhawat |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
31.12.1961 |
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Date of Appointment : |
01.04.2005 |
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DIN No.: |
00105099 |
KEY EXECUTIVES
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Name : |
B.L. Harawat and Associates |
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Designation : |
Company Secretary |
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Address : |
102, Sector – 11, Hiran Magri, |
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Tel. No.: |
91-294-2489074 |
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Mobile No.: |
91-9414926849 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.08.2010
|
Names of Shareholders |
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No. of Shares |
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Bhupendra Shekhawat |
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1 |
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Ashok Singh Chouhan |
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4400 |
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Ghanshyam Singh Krishnawat |
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711501 |
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Ameeta Shekhawat |
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23500 |
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Haveli Stones Private Limited, |
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25000 |
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Total |
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764402 |
As on 04.09.2010
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Names of Allottees |
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No. of Shares |
|
Ghanshyam Singh Krishnawat |
|
1235598 |
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Total |
|
1235598 |
As on 31.08.2010
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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 : |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Unit |
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Actual
Production |
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Blocks |
Nos. |
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2590 |
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Slabs |
Sq. Mtr. |
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67008 |
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GENERAL INFORMATION
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Customers : |
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Bankers : |
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Facilities : |
Notes: Term Loans from Financial Institutions/ Banks referred to in A (i) and
(ii) are secured by hypothecation of assets acquired there against. Term Loans
from Axis Bank is secured against equitable mortgage of mines, factory
building and machines and commercial complex owned by Managing Director. |
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Banking
Relations : |
-- |
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Financial Institutions : |
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Auditors : |
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Name : |
Azad Jain and Company Chartered Accountants |
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Address : |
95, New Fatehpura, Opposite UIT Office, |
CAPITAL STRUCTURE
After 31.08.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
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As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
764402 |
Equity Shares |
Rs.10/- each |
Rs.7.644
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
7.644 |
7.644 |
7.644 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.516 |
6.253 |
5.713 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.160 |
13.897 |
13.357 |
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LOAN FUNDS |
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1] Secured Loans |
224.845 |
124.687 |
72.321 |
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2] Unsecured Loans |
0.234 |
5.494 |
7.539 |
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TOTAL BORROWING |
225.079 |
130.181 |
79.860 |
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DEFERRED TAX LIABILITIES |
0.582 |
0.887 |
1.076 |
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TOTAL |
240.821 |
144.965 |
94.293 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
48.608 |
48.624 |
45.661 |
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Capital work-in-progress |
82.506 |
44.478 |
6.590 |
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INVESTMENT |
12.576 |
1.966 |
2.390 |
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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 |
58.891
|
51.959 |
37.094 |
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Sundry Debtors |
9.907
|
4.893 |
7.298 |
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Cash & Bank Balances |
29.159
|
4.091 |
1.432 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
28.973
|
12.343 |
9.459 |
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Total
Current Assets |
126.930
|
73.286 |
55.283 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
27.010
|
19.147 |
12.555 |
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Other Current Liabilities |
1.789
|
3.342 |
2.176 |
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Provisions |
1.000
|
0.900 |
0.900 |
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Total
Current Liabilities |
29.799
|
23.389 |
15.631 |
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Net Current Assets |
97.131
|
49.897 |
39.652 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
240.821 |
144.965 |
94.293 |
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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 |
87.692 |
63.984 |
56.736 |
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Other Income |
0.998 |
3.006 |
1.156 |
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TOTAL (A) |
88.690 |
66.990 |
57.892 |
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Less |
EXPENSES |
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|
(7.188) |
(14.954) |
(14.173) |
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Office Expenses |
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Administrative Expenses |
76.640 |
61.888 |
55.933 |
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Advertising Expenses |
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TOTAL (B) |
76.640 |
61.888 |
55.933 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.238 |
20.056 |
16.132 |
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Less |
INTEREST & FINANCIAL
EXPENSES (D) |
8.947 |
11.261 |
7.238 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.291 |
8.795 |
8.894 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.399 |
7.513 |
7.279 |
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PROFIT BEFORE
TAX (E-F) (G) |
1.892 |
1.282 |
1.615 |
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Less |
TAX (H) |
0.629 |
1.120 |
0.401 |
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PROFIT AFTER TAX
(G-H) (I) |
1.263 |
0.162 |
1.214 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export of Goods on FOB basis |
43.416 |
35.614 |
25.319 |
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TOTAL EARNINGS |
43.416 |
35.614 |
25.319 |
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Earnings Per
Share (Rs.) |
1.65 |
0.71 |
1.59 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.42
|
0.24 |
2.10 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.16
|
2.00 |
2.85 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.08
|
1.05 |
1.60 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.09 |
0.12 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
16.81
|
11.05 |
7.15 |
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|
Current Ratio (Current Asset/Current Liability) |
|
4.26
|
3.13 |
3.54 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from
Hotel Haveli,
|
Corporate
identity number of the company |
U14101RJ1994PTC008602 |
|
Name of the
company |
HAVELI MARBLE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-7, RIICO Industrial Area, N.H.8, Sukher, Udaipur – 313 001,
Rajasthan, India E-Mail: yogassociates@yahoo.co.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable Property Any interest in immovable property Book Debts Movable Property Others (Negative Lien on Mines of Company and Directors) |
|
Particular of
charge holder |
Bank of E-Mail: udaipu@bankofbaroda.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement |
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Date of
instrument Creating the charge |
27/01/2011 |
|
Amount secured by
the charge |
Rs.77.300
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: At 2.50% over
Base Rate i.e. 11.50% p.a. at present,
payable at monthly rest Terms of
Repayment: Payable in 59
equal monthly installments of Rs.1.334 millions from 19.11.10 (As started in
Axis Bank) and 60th monthly
installment of Rs.1.294 millions interest separate Margin: Existing to
continue Extent and
Operation of the charge: Hypothecation of
Plant and Machinery, Furniture and Fixtures of Hotel Unit Hotel the Hypothecation of
Current Assets First Charge over
fixed assets of the company Others: Equitable
Mortgage of Land and Equitable
Mortgage of Factory Land and Building situated at B-7, RIICO Industrial Area,
Sukher, Equitable
Mortgage of Commercial Property situated at 388, Thana House, Rang Niwas,
Udaipur of Ghanshyam Singh Krihnawat |
|
Short particulars
of the property charged |
Hypothecation of
Plant and Machineries , Furniture and Fixtures of Hotel unit of the company namely
Hotel The Chunda Palace, situated at 1, Hari Das ji ki Magri, Uaipur
(Rajasthan) Hypothecation of
Plant and Machineries and other Fixed
Assets situated at B-7, RIICO Industrial Area, Sukher , Hypothecation of
Stocks , Debtors, WIP of Marble, Handicraft and Hotel Division Equitable
Mortgage of Land and Equitable
Mortgage of Factory Land and Building situated at B-7, RIICO Industrial Area,
Sukher, Equitable
Mortgage of commercial property situated at 388, Thana House, Rang Niwas, Negative Lien of
Mines of Ghanshyam Singh Krishnawat situated at Babarmal, Negative Lien of
Mines of Haveli Stone Private Limited and Haveli Granites Private
Limited situated at Near village Kela
Kua, Tehsil Salumber, District-Udaipur Negative Lien of
Mine of Smt Meena Lalpura situated N/V Aakodara Tehsil Jhadol District-Uaipur Negative Lien of
Mines of Sh Amara Ram |
FIXED ASSETS:
·
Buildings
·
Plant and Machineries
·
Vehicles
·
Furniture and Fittings
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.45.09 |
|
|
1 |
Rs.72.59 |
|
Euro |
1 |
Rs.62.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.