MIRA
INFORM REPORT
|
Report Date : |
21.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUSIM ENTERPRISES |
|
|
|
|
Registered
Office : |
IDCO Plot No. -154/F and 154/G, IDCO Industrial Estate, Jagatpur, |
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|
Country : |
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|
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|
Date of
Incorporation : |
15.07.2009 |
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|
|
|
Legal Form : |
Sole Proprietory Concern. |
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|
|
|
Line of Business
: |
Manufacturer of Re Refined Lube Oil. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
New Concern |
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|
|
Payment Behaviour : |
Unknown |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a new concern and yet to commence commercial operations.
The valuation report provided is of a lesser value than the proposal amount. The
networth statement provided however seems to be satisfactory. No further
details could be made available. 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
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|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Biswsaranjan Das |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9437024235 |
|
Date : |
17.03.2011 |
LOCATIONS
|
Registered Office/ Factory : |
IDCO Plot No. -154/F and 154/G, IDCO Industrial Estate, Jagatpur, |
|
Email : |
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|
Location : |
Leased |
SOLE PROPRIETOR
|
Name : |
Mr. Biswsaranjan Das |
|
Designation : |
Proprietor |
|
Address : |
Old |
|
Date of Birth/Age : |
25.05.1971 |
|
Qualification : |
B.Com |
|
Experience : |
15 Years |
|
PAN No.: [Permanent Account No.] |
AEDPD0348D |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Re Refined Lube Oil. |
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|
|
Terms : |
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|
Selling : |
Credit (30 Days) |
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|
|
|
Purchasing : |
Credit (10 Days) |
PRODUCTION STATUS
|
Particulars |
|
Installed Capacity |
Actual Production |
|
|
|
|
|
|
Waste Lube Oil (Raw Materials) |
|
1200 KL |
720 KL (60% CU )
|
|
|
|
|
|
GENERAL INFORMATION
|
Customers : |
Wholesalers and OEM’s |
|
|
|
|
No. of Employees : |
Approximately 29 (Office 5, Factory 24) |
|
|
|
|
Bankers : |
·
Corporation Bank Main Branch, |
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|
|
|
Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Ramakrushna Patra and Company Chartered Accountant |
|
Address : |
Plot No. 493, Nageswar Tangi, |
|
Tel. No.: |
91-6742-432680 |
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E-Mail : |
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|
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|
Associates/ Subsidiary : |
· Continental Lubricants Old Activity: |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Available |
|
Borrowed : |
Not Available |
|
Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW CONCERN
LOCAL AGENCY FURTHER INFORMATION
ASSESSMENT OF WORKING
CAPITAL REQUIREMENTS
(RS. IN MILLIONS)
|
Particulars |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
|
PROJECTIONS |
|||||
|
|
|
|
|
|
|
|
|
Gross Sales |
|
|
|
|
|
|
|
i. Domestic Sales |
4.697 |
23.487 |
23.487 |
25.053 |
26.619 |
28.184 |
|
ii. Export Sales |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
4.697 |
23.487 |
23.487 |
25.053 |
26.619 |
28.184 |
|
|
|
|
|
|
|
|
|
Less Excise Duty |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Net Sales |
4.697 |
23.487 |
23.487 |
25.053 |
26.619 |
28.184 |
|
|
|
|
|
|
|
|
|
% age rise (+) or fall (-) in net sales as
compared to previous year (annualized) |
NA |
25.01% |
0.00% |
6.67% |
6.25% |
5.88% |
|
|
|
|
|
|
|
|
|
Cost of Sales |
|
|
|
|
|
|
|
Raw Materials (including stores and other
items used in the process of manufacture) |
5.131 |
17.644 |
17.222 |
18.510 |
19.658 |
20.806 |
|
a. Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
b. Indigenous |
5.131 |
17.644 |
17.222 |
18.510 |
19.658 |
20.806 |
|
|
|
|
|
|
|
|
|
Other Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
a. Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
b. Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Power and Fuel |
0.073 |
0.359 |
0.359 |
0.373 |
0.387 |
0.401 |
|
|
|
|
|
|
|
|
|
Direct labour (factory wages and salaries) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Other manufacturing expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Depreciation |
0.674 |
1.263 |
1.178 |
1.133 |
1.121 |
1.113 |
|
|
|
|
|
|
|
|
|
Sub- Total |
5.878 |
19.266 |
18.759 |
20.016 |
21.166 |
22.320 |
|
|
|
|
|
|
|
|
|
Add: Opening Stock-in-process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Sub- Total |
5.878 |
19.266 |
18.759 |
20.016 |
21.166 |
22.320 |
|
|
|
|
|
|
|
|
|
Deduct: Closing Stock-in-process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Cost of Production |
5.878 |
19.266 |
18.759 |
20.016 |
21.166 |
22.320 |
|
|
|
|
|
|
|
|
|
Add: Opening Stock of finished goods |
0.000 |
2.127 |
2.635 |
2.637 |
2.812 |
2.989 |
|
|
|
|
|
|
|
|
|
Sub- Total |
5.878 |
21.393 |
21.394 |
22.653 |
23.978 |
25.309 |
|
|
|
|
|
|
|
|
|
Deduct: Closing Stock of finished goods |
2.127 |
2.635 |
2.637 |
2.812 |
2.989 |
3.165 |
|
|
|
|
|
|
|
|
|
Sub- Total (Total Cost of Sales) |
3.751 |
18.758 |
18.757 |
19.841 |
20.989 |
22.144 |
|
|
|
|
|
|
|
|
|
Selling, general and administrative expenses |
0.501 |
1.634 |
1.720 |
1.811 |
1.987 |
2.106 |
|
|
|
|
|
|
|
|
|
Sub- Total |
4.252 |
20.392 |
20.477 |
21.652 |
22.976 |
24.250 |
|
|
|
|
|
|
|
|
|
Operating profit before Interest (3-7) |
0.445 |
3.095 |
3.010 |
3.401 |
3.643 |
3.934 |
|
|
|
|
|
|
|
|
|
Interest on TL |
0.209 |
0.746 |
0.582 |
0.418 |
0.254 |
0.090 |
|
|
|
|
|
|
|
|
|
Interest on Cash Credit |
0.058 |
0.230 |
0.230 |
0.230 |
0.230 |
0.230 |
|
|
|
|
|
|
|
|
|
Total Interest |
0.267 |
0.976 |
0.812 |
0.648 |
0.484 |
0.320 |
|
|
|
|
|
|
|
|
|
Operating Profit after Interest (8-9) |
0.178 |
2.119 |
2.198 |
2.753 |
3.159 |
3.614 |
|
|
|
|
|
|
|
|
|
Add: Other non-operating Income |
|
|
|
|
|
|
|
a. |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
b. Profit from Trading Activities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
c. Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Sub Total (Income) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
ii. Deduct: Other non-operating Expenses |
|
|
|
|
|
|
|
a. Loss on |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
b. Preliminary Expenses Written off |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
c. Income Tax for earlier years |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
d. Miscellaneous and Trail-run Expense
written off |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Sub- Total (Expenses) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Net of other non –operating income/ expenses
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Profit before tax/ loss |
0.178 |
2.119 |
2.198 |
2.753 |
3.159 |
3.614 |
|
|
|
|
|
|
|
|
|
Provision for taxes |
0.055 |
0.655 |
0.679 |
0.851 |
0.976 |
1.117 |
|
|
|
|
|
|
|
|
|
Deferred for Tax Liability (-) Assets (+) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Net Profit/ Loss |
0.123 |
1.464 |
1.519 |
1.902 |
2.183 |
2.497 |
|
|
|
|
|
|
|
|
|
a. Equity dividend paid-amount/ Drawings (Already Paid + B.S. Provision) |
0.060 |
0.090 |
0.120 |
0.180 |
0.180 |
0.240 |
|
|
|
|
|
|
|
|
|
b. Dividend Rate (%age) |
0.0% |
0.0% |
0.0% |
0.0% |
0.0% |
0.0% |
|
|
|
|
|
|
|
|
|
Retained Profit |
0.063 |
1.374 |
1.399 |
1.722 |
2.003 |
2.257 |
|
|
|
|
|
|
|
|
|
Retained Profit/ Net Profit (% age) |
51.22% |
93.85% |
92.10% |
90.54% |
91.75% |
90.39% |
|
|
|
|
|
|
|
|
|
CASH ACCRUALS |
0.737 |
2.637 |
2.577 |
2.855 |
3.124 |
3.370 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
|
PROJECTIONS |
|||||
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
Short term borrowings from banks
(Including bills purchased, discounted and excess borrowings placed on
repayment bases) |
|
|
|
|
|
|
|
From applicant bank |
2.000 |
2.000 |
2.000 |
2.000 |
2.000 |
2.000 |
|
From other banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Of which BP&BD |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Sub Total (A) |
2.000 |
2.000 |
2.000 |
2.000 |
2.000 |
2.000 |
|
|
|
|
|
|
|
|
|
Short term borrowings from others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sundry creditors(trade) |
0.375 |
0.468 |
0.468 |
0.500 |
0.531 |
0.562 |
|
Advance payments from customers/deposits
from dealers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Provision for taxation |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Dividend payable/expenses payable |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other statutory liabilities(payable within
one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deposits/ Installments of term loans/
DPGs/ debentures, etc.(due within one year) |
1.428 |
1.428 |
1.428 |
1.428 |
1.431 |
0.000 |
|
Other current liabilities and
provisions(due within one year)--specify major items |
0.295 |
0.302 |
0.308 |
0.315 |
0.324 |
0.333 |
|
|
|
|
|
|
|
|
|
SUB
TOTAL |
2.098 |
2.198 |
2.204 |
2.243 |
2.286 |
0.895 |
|
|
|
|
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
4.098 |
4.198 |
4.204 |
4.243 |
4.286 |
2.895 |
|
|
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
Debentures [not maturing within one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Preference Shares [Redeemable after 1 year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Term loans [excluding installments payable within
one year] |
5.715 |
4.287 |
2.859 |
1.431 |
0.000 |
0.000 |
|
Loans (Unsecured from Promoters) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deferred Sales Tax / Deferred Loan Deferred Payment Credit
[Excluding installments due within one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Term deposit [repayable after one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Term Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL TERM
LIABILITIES |
5.715 |
4.287 |
2.859 |
1.431 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL
OUT LIABILITIES |
9.813 |
8.485 |
7.063 |
5.674 |
4.286 |
2.895 |
|
|
|
|
|
|
|
|
|
NET
WORTH |
|
|
|
|
|
|
|
Equity Shares
Capital |
3.500 |
3.500 |
3.500 |
3.500 |
3.500 |
3.500 |
|
Unsecured Loans |
2.500 |
2.500 |
2.500 |
2.500 |
2.500 |
2.500 |
|
Capital Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Revaluation Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit and loss and other reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Surplus [+] or deficit [-] in Profit and Loss Account |
0.063 |
1.437 |
2.836 |
4.558 |
6.561 |
8.818 |
|
Other (Specify) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL
NET WORTH |
6.063 |
7.437 |
8.836 |
10.558 |
12.561 |
14.818 |
|
|
|
|
|
|
|
|
|
TOTAL
LIABILITIES |
15.876 |
15.922 |
15.899 |
16.232 |
16.847 |
17.713 |
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.514 |
0.929 |
1.332 |
1.494 |
1.674 |
2.098 |
|
|
|
|
|
|
|
|
|
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Receivable |
1.544 |
1.930 |
1.930 |
2.059 |
2.188 |
2.317 |
|
(Month’s Domestic Sales) |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Export Receivables |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVENTORY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Material Consumed |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Stock in Process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(Month’s cost of Sales) |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Finished Goods |
2.127 |
2.635 |
2.637 |
2.812 |
2.989 |
3.165 |
|
|
|
|
|
|
|
|
|
Other Consumable Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Advances Suppliers of Stores and Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advances Payment of Taxes
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
4.185 |
5.494 |
5.899 |
6.365 |
6.851 |
7.580 |
|
|
|
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
Gross Block (Land and Building, Machinery,
Work-In-Progress) |
12.365 |
12.365 |
13.115 |
14.115 |
15.365 |
16.615 |
|
Depreciation to date |
0.674 |
1.937 |
3.115 |
4.248 |
5.369 |
6.482 |
|
|
|
|
|
|
|
|
|
NET BLOCK |
11.691 |
10.428 |
10.000 |
9.867 |
9.996 |
10.133 |
|
|
|
|
|
|
|
|
|
OTHER
NON – CURRENT ASSETS |
|
|
|
|
|
|
|
Investments/ book/ debts/ advances/ deposits which are not
Current Assts |
|
|
|
|
|
|
|
a. Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
b. FD for Margin Money with Bank for L/C and B/ G |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
ii] Advances to suppliers of capital goods and contractors
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
iii] Deferred receivables [maturity exceeding one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
iv] Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Miscellaneous Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Non consumables Stores and Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Other non – current assets including dues from directors
(Deferred Tax Assets) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL
OTHER NON – CURRENT ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Intangible assets [Patents, goodwill, prelim, expenses,
bad/ doubtful expenses Not provided for etc.] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL
ASSETS |
15.876 |
15.922 |
15.899 |
16.232 |
16.847 |
17.713 |
|
|
|
|
|
|
|
|
|
TANGIBLE
NET WORTH |
6.063 |
7.437 |
8.836 |
10.558 |
12.561 |
14.818 |
|
|
|
|
|
|
|
|
|
Net Working Capital |
0.087 |
1.296 |
1.695 |
2.122 |
2.565 |
4.685 |
|
|
|
|
|
|
|
|
|
Current Ratio (Including TL instl as CL) |
1.02 |
1.31 |
1.40 |
1.50 |
1.60 |
2.62 |
|
Current Ratio (Excl. TL instl as CL) |
1.57 |
1.98 |
2.13 |
2.26 |
2.40 |
2.62 |
|
|
|
|
|
|
|
|
|
Total Outside Liabilities/ Tangible Net worth |
1.62 |
1.14 |
0.80 |
0.54 |
0.34 |
0.20 |
|
|
|
|
|
|
|
|
|
Total Term Liabilities/ Tangible Net worth |
0.94 |
0.58 |
0.32 |
0.14 |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF
CURRENT ASSETS AND CURRENT LIABILITIES
(RS. IN MILLIONS)
|
Particulars |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
|
PROJECTIONS |
|||||
|
|
|
|
|
|
|
|
|
A. CURRENT ASSETS |
|
|
|
|
|
|
|
Raw Materials (including Stores and other
items used in the process of manufacture) |
|
|
|
|
|
|
|
a. Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Month’s Consumption |
-- |
-- |
-- |
-- |
-- |
-- |
|
b. Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Month’s Consumption |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Other Consumable spares, excluding those
included in 1 above |
|
|
|
|
|
|
|
a. Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months’ consumption |
-- |
-- |
-- |
-- |
-- |
-- |
|
b. Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.600 |
|
Months’ consumption |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Stock-in-process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months’ Cost of Production |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Finished Goods |
2.127 |
2.635 |
2.637 |
2.812 |
2.989 |
3.165 |
|
Month’s cost of Sales |
[0.170] |
[0.169] |
[0.169] |
[0.170] |
[0.171] |
[0.172] |
|
|
|
|
|
|
|
|
|
Receivables other than export and deferred receivables
(Including bills purchased and discounted by bankers) |
1.544 |
1.930 |
1.930 |
2.059 |
2.188 |
2.317 |
|
Months’ Domestic sales: Excluding deferred
payment sales |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Export Receivables (Including bills
purchased and discounted) |
[0.099] |
[0.099] |
[0.099] |
[0.099] |
[0.099] |
[0.099] |
|
Month’s Export Sales |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
Advances to suppliers of raw materials and stores/
spares, consumables |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Other current assets including cash and bank
balances and deferred receivables due within one year |
0.514 |
0.929 |
1.332 |
1.494 |
1.674 |
2.098 |
|
Cash and bank balances |
0.514 |
0.929 |
1.332 |
1.494 |
1.674 |
2.098 |
|
Investments (Other than long term) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
i. Government and other Trustee Securites |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
ii. Fixed Deposits with Banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Installments of deferred receivables (Due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advance payment of taxes |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Current assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Total Current Assets |
4.185 |
5.494 |
5.899 |
6.365 |
6.851 |
8.180 |
|
|
|
|
|
|
|
|
|
B. CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Other than bank borrowings for working
capital) |
|
|
|
|
|
|
|
Creditors for purchase of raw materials,
stocks and consumables spares |
0.375 |
0.468 |
0.468 |
0.500 |
0.531 |
0.562 |
|
Month’s Purchase |
-- |
[0.32] |
[0.33] |
[0.32] |
[0.32] |
[0.33] |
|
|
|
|
|
|
|
|
|
Advances from Customers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Statutory Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Other Current Liabilities |
1.723 |
1.730 |
1.736 |
1.743 |
1.755 |
0.333 |
|
Short Term borrowings from others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Provision for taxation |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Dividend Payable |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deposits/ Installments of Term loans/ DPGs/
Debentures etc. (due within 1 year) |
1.428 |
1.428 |
1.428 |
1.428 |
1.431 |
0.000 |
|
Other Current Liabilities and Provision (Due
within 1 year) |
0.295 |
0.302 |
0.308 |
0.315 |
0.324 |
0.333 |
|
|
|
|
|
|
|
|
|
Total Current Liabilities |
2.098 |
2.198 |
2.204 |
2.243 |
2.286 |
0.895 |
------------------------------------------------------------------------------------------------------------------------------
FUNDS FLOW STATEMENT
(RS. IN MILLIONS)
|
Particulars |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
|
PROJECTIONS |
|||||
|
SOURCES |
|
|
|
|
|
|
|
Net Profit |
1.464 |
1.519 |
1.902 |
2.183 |
2.497 |
0.000 |
|
Depreciation |
1.263 |
1.178 |
1.133 |
1.121 |
1.113 |
[6.482] |
|
Increase in Capital |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
[3.500] |
|
Increase in Term Liabilities (Including
Public Deposits) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Decrease in |
|
|
|
|
|
|
|
i. Fixed Assets |
-- |
-- |
-- |
-- |
-- |
-- |
|
ii. Other non-current assets |
-- |
-- |
-- |
-- |
-- |
-- |
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
2.727 |
2.697 |
3.035 |
3.304 |
3.610 |
6.633 |
|
|
|
|
|
|
|
|
|
USES |
|
|
|
|
|
|
|
Net Loss |
|
|
|
|
|
|
|
Decrease in Term Liabilities (Including Public
Deposits) |
1.428 |
1.428 |
1.428 |
1.428 |
1.428 |
1.428 |
|
Increase in |
|
|
|
|
|
|
|
i. Fixed Assets |
0.000 |
0.750 |
1.000 |
1.250 |
1.250 |
0.000 |
|
ii. Other Non- Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Dividend Payments |
0.090 |
0.120 |
0.180 |
0.180 |
0.240 |
0.000 |
|
Other |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
1.518 |
2.298 |
2.608 |
2.861 |
1.490 |
0.000 |
|
|
|
|
|
|
|
|
|
Long Term Surplus(+)/ Deficit (-) (1-2) |
1.209 |
0.399 |
0.427 |
0.443 |
2.120 |
6.633 |
|
|
|
|
|
|
|
|
|
Increase/ Decrease in current assets (as per
details given below) |
1.309 |
0.405 |
0.466 |
0.486 |
0.729 |
[7.580] |
|
Increase/ Decrease in Current Liabilities
other than bank borrowings |
0.100 |
0.006 |
0.039 |
0.043 |
[1.391] |
[0.895] |
|
Increase/ Decrease in working Capital Gap |
1.209 |
0.399 |
0.427 |
0.443 |
2.120 |
[6.685] |
|
Net Surplus/ Deficit (-) (3-6) |
0.000 |
0.000 |
0.000 |
0.0000 |
0.000 |
13.318 |
|
Increase/ Decrease in bank borrowings |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
[2.000] |
|
Increase/ Decrease in NET SALES |
18.790 |
0.000 |
1.566 |
1.566 |
1.565 |
[28.184] |
|
|
|
|
|
|
|
|
|
Breakup of Item- 4 |
|
|
|
|
|
|
|
Increase/ decrease in Raw Materials |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase/ Decrease in Stocks –in-process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase/ Decrease in Finished Goods |
0.508 |
0.002 |
0.175 |
0.1770 |
0.176 |
[3.165] |
|
Increase/ Decrease in Receivables |
|
|
|
|
|
|
|
a) Domestic |
0.386 |
0.000 |
0.129 |
0.129 |
0.129 |
[2.317] |
|
b) Export |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase/ Decrease in Stores and Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.600 |
[0.600] |
|
Increase/ Decrease in Other Current Assets |
0.415 |
0.403 |
0.162 |
0.180 |
[0.176] |
[1.498] |
|
|
|
|
|
|
|
|
|
TOTAL |
1.309 |
0.405 |
0.466 |
0.486 |
0.729 |
[7.580] |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT SHOWING ASSETS
AND LIABILITIES
NET WORTH STATEMENT
MR. BISWARANJAN DAS
(DIRECTOR)
ASSETS
|
IMMOVABLE PROPERTIES |
APPLICANT |
|
Address of the property with Survey No./
Door No etc. |
Plot No. 154/FV 154/G, IDCO Industrial
Estate, Jagatpur, |
|
|
|
|
Description: Land/ Site/ Building |
|
|
|
|
|
Whether free hold / Leasehold |
Leasehold from IDCO |
|
|
|
|
Type of Property: Commercial/ Residential/
Agricultural |
Industrial |
|
|
|
|
Extent of Land |
AC 00.0562 |
|
|
|
|
Mortgage for availing loan if any, details thereof |
Proposed to be mortgaged |
|
|
|
|
Present Market/ Assessed Value |
Rs.3.750 Millions |
|
|
|
|
INVESTMENT IN BUSINESS CAPITAL |
|
|
Name of the Company/ Firm/ Concern in which
investment is made |
1)
Continental Lubricant 2)
Susim Enterprises |
|
|
|
|
Date of Investments |
1)
As on 31.01.2011 2)
As on 31.01.2011 |
|
|
|
|
Present Value of Investments |
1)
Rs.1.800 Millions 2)
Rs.1.500 Millions Total: Rs.3.300 Millions |
|
|
|
|
VEHICLES OWNED |
|
|
Model :Make |
Toyoto Innova |
|
|
|
|
Date of Purchase |
2008 September |
|
|
|
|
Whether Hypothecated for loan |
HDFC Bank |
|
|
|
|
Details of loan against vehicles |
HDFC Bank Vehicle Loan |
|
|
|
|
Present Market value |
Rs.0.650 Millions |
|
|
|
|
OTHER ASSETS |
|
|
Furniture and Fixture |
Rs.0.100 Million |
|
|
|
|
Cash in Hand |
Rs.0.075 Million |
|
|
|
|
Jewellery |
Rs.0.225 Million |
|
|
|
|
Other Assets if any (Specify) |
Rs.0.050 Million |
|
|
|
|
Total Value of Other Assets |
Rs.0.450 Million |
|
TOTAL ASSETS |
RS.8.150 MILLIONS |
LIABILTIIES
|
(Please furnish loans available
from Banks / Financial Institutions and other borrowings) |
|
|
Name of the Bank/ Institution |
HDFC Bank |
|
|
|
|
Nature / Type of Loan |
Vehicle Loan |
|
|
|
|
Date of Loan |
September 2008 |
|
|
|
|
Amount of Loan availed |
Rs..800 Million |
|
|
|
|
Security offered if any |
Hypothecation of Vehicles |
|
|
|
|
Amount Outstanding |
Rs.0.185 Million |
|
TOTAL LIABILITIES |
RS. 0.185 MILLIONS |
|
NETWORTH |
RS. 7.965 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT IN RESPECT IF INDUSTRIAL LAND WITH BUILDING
A.
K. SAMANTARAY AND COMPANY (PRIVATE) LIMITED
Regd.
Valuer u/s. 34-AB of Wealth Tax Act, 1957
Plot
No.309/1801, Sub-Plot No.1
SBI
Campus, Sailashree Vihar, Bhubaneswar-751021
Tel-(0674)2
721393 (0), 2720615 (Telefax)
PRESENT
STATUS OF THE PROPERTY AS PER THE OBSERVATION
LOCATION:
The property in consideration is a developing industrial land, allotted
by IDCO, appropriate authority in govt. Sector for a particulars purpose, as
contained in the lease-deed. It is situated at a convenient location in the
Industrial Estate, Jagatpur (New), covered under Cuttack Municipal Corporation,
revenue Mouza being Khaira under Tangi-Chouswar Tahasil. Further civic
amenities are nearer from the property such as 500 mtrs from Khaira UP school,
01 km from Ganapati engioneering collage, 01 km from Ultra Hospotal and 02 km
from Jagatpur daily market and moreover situated on a developed industrial road
connenting SH 9A within 01 km. Location map showing orientation of the property
with some still photographs of the structures, in different angle are
enclosed with this report for a better
reference which are again self explicit to identify the properties.
The building photographed for the present purpose, is constructed
shortly, with all traditional specifications, which can be well visualised from
the still photographs, enclosed. It is structurally sound and can enjoy it’s
full estimated life, if kept in good maintained status like that at present.
Technical details of the building, at the existing condition are recorded in
respective chapter.
GENERAL
DETAILS
|
Purpose of Valuation |
To assess present market value of the property for security purpose. |
|
|
|
|
Date of inspection |
24.02.2011 |
|
|
|
|
Date of valuation |
25.02.2011 |
|
|
|
|
Documents produced for perusal |
Leasehold |
|
|
|
|
Name of the owner (s) and his/ their address) and phone no. (details
of share of each owner in case of joint ownership) |
Biswaranjan Das, S/O late Susim Charan Das, At Old Jagannath Road, Khapuria,
P.O./PS Madhupatana, District Cutrtack,
Mob No.9437024235 |
|
|
|
|
Location of the property IDCO Plot No |
154/F and 154/G |
|
|
|
|
Industrial Estate |
IDCO Industrial complex at Jagatpur (New) |
|
|
|
|
Revenue Plot No. |
1920 (P) |
|
|
|
|
Khata No. |
448 |
|
|
|
|
Mouza |
Khaira |
|
|
|
|
|
|
|
Police Station |
Jagatpur |
|
|
|
|
Sub-Registrar / Tahasil |
Tangi – Choudwar |
|
|
|
|
District |
|
|
|
|
|
City / Town |
Periphery of Choudwar |
|
|
|
|
Nature |
Industrial |
|
|
|
|
Classification of the area |
Middle Class |
|
|
|
|
Urban/ Semi-urban/ Rural |
Urban Area |
|
|
|
|
Coming under Panchayat/ Municipality |
Cuttack Municipal Corporation Limit |
|
|
|
|
If it is agricultural land, conversion to house site plot is contemplated |
Industrial as per. |
|
|
|
|
Boundary of the property |
|
|
|
|
|
Dimensions of the site |
Regular |
|
|
|
|
Extent of the site (1 acre = 1000 dec) |
A.0.562 dec i.e. 24,480.00 sft |
|
|
|
|
Whet her occupied by the owner / tenant |
Self Occupied |
CHARACTERISTICS
OF SITE
|
Classification locality |
Middle class |
|
|
|
|
Development of surrounding area |
Surrounded with other similar Properties |
|
|
|
|
Possibility of frequent flooding |
No |
|
|
|
|
Level of land/ topographical condition |
Plane and leveled |
|
|
|
|
Shape of land |
Regular |
|
|
|
|
Type of use it can be put |
Industrial |
|
|
|
|
Any usage restriction |
Nothing observed |
|
|
|
|
Is it in town-planning approved layout |
Yes |
|
|
|
|
Corner plot or intermittent plot |
Intermittent Plot |
|
|
|
|
Is it a land - locked land |
No. |
|
|
|
|
Water potentiality |
Available |
|
|
|
|
Underground sewerage system |
Not Applicable |
|
|
|
|
Power supply is available at site |
Available |
|
|
|
|
Advantages of the site |
Developed industrial area. |
VALUATION
OF LAND AND SOME STRUCTURE
|
Size of Plot |
Regular |
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|
|
|
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|
Total extent of plot |
A.0.562 dec i.e. 24,480.00 sft |
||||||||||||
|
|
|
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|
RECORDED RATES OF LAND AS PER SUB-REGISTRANT’S
RECORD/ LOCAL AUTHORITIES IDCO the authorized govt. agency to allot the lease have exercised to
rationalize the rates for allotment of industrial land in different
industrial areas of Orissa state, which are developed and maintenance by them
and accordingly categorized the land basing on it’s nature and quantum of
development and fixed areas for such land for allotment of leased for a
period of 90 years vide a memorandum bearing no. HO/ID/A/8955/01-07/5270
dt.15.03.2010 approved in the meeting of board of directors of IDCO vide agenda
no.11 in its 78th meeting dated 24.02.2010. Property in present
consideration falls in the category A (high class property provided with
blacktopped road, water supply, power, infrastructure including street light
and drain some area) and rate fixed for such land at Jagatpur industrial
estate stands at Rs.75,00,000.00 per acres (Rs.172.00 per sft.) Demand for like nature of industrial land, being located conveniently
SH.9A, can be comparatively traded to be more and it gradually attracts more
demand thus. They therefore consider to adopt the market rate as Rs.35.00 per
sft., which the land can fetch comfortably.
ESTIMATED PRESENT VALUE
|
|||||||||||||
|
|||||||||||||
|
|
|
||||||||||||
|
FORCED/ DISTRESSED |
|||||||||||||
|
Value on sale in a forcible/distressed condition usually face sizable
Again and considered to be nearly 15% less than the market value on fair approximation,
which can be treated as the realizable value of the Property at any point of
time. |
Rs.7.685
Millions |
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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.72.82 |
|
Euro |
1 |
Rs.63.43 |
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.