MIRA
INFORM REPORT
|
Report Date : |
02.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
BLACK GOLD EXIM PRIVATE LIMITED |
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Registered
Office : |
11/4, Kharadi-Mundhwa, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
02.01.2006 |
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Com. Reg. No.: |
11-021770 |
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CIN No.: [Company Identification No.] |
U51909PN2006PTC021770 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB04802A |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer and Supplier of Graded Coal Products and Services. |
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 56000 |
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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. The company is
progressing well. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 |
INFORMATION PARTED BY
|
Name : |
Mr. Atul S Kamble |
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Designation : |
Director |
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Contact No.: |
91-9822069209 |
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Date : |
30.04.2011 |
LOCATIONS
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Registered Office : |
11/4, Kharadi-Mundhwa, |
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Tel. No.: |
91-20-32543891/ 65002103 |
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Mobile No.: |
91-9370069209 (Mr. Rahul Kamble) |
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Fax No.: |
91-20-65002103 |
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E-Mail : |
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Website : |
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Area : |
3500 sq.ft. (Owned) |
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Factory : |
Sr. No. 12 and 15, At Talashet, Post Poynad, Alibaug, District Raigad,
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Tel. No.: |
91-2143-320650 |
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Fax No.: |
91-2143-641728 |
DIRECTORS
As on 09.08.2010
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Name : |
Mr. Atul Sharad Kamble |
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Designation : |
Managing Director |
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Address : |
Silver Archies Apartment, Flat No. 2, S. No. 20 to 28, |
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Date of Birth/Age : |
18.03.1967 |
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Date of Appointment : |
02.01.2006 |
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DIN No.: |
01838327 |
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Name : |
Mrs. Pratidnya Atul Kamble |
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Designation : |
Director |
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Address : |
St. Lorence Colony, Uday Baug, Pune-411013, |
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Date of Birth/Age : |
18.01.1975 |
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Date of Appointment : |
01.09.2008 |
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DIN No.: |
01830571 |
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Name : |
Mrs. Anuradha Rahul Kamble |
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Designation : |
Director |
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Address : |
Silver |
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Date of Birth/Age : |
19.02.1976 |
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Date of Appointment : |
01.09.2008 |
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DIN No.: |
01830541 |
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Name : |
Mr. Rahul Sharad Kamble |
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Designation : |
Director |
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Address : |
Silver Archies Apartment, Flat No. 2, S. No. 20 to 28, |
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Date of Birth/Age : |
31.12.1970 |
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Date of Appointment : |
05.05.2006 |
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DIN No.: |
01830506 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 09.08.2010
|
Names of Shareholders |
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No. of Shares |
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Atul Sharad Kamble |
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21000 |
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Rahul Sharad Kamble |
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13000 |
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Sharad Ganpat Kamble |
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41000 |
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Total |
|
75000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Graded Coal Products and Services. |
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Terms : |
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Selling : |
Cash and Credit (30-60-90 Days) |
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Purchasing : |
Cash and Credit (30-60-90 Days) |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s ·
A J. Coal Private Limited ·
Alkyl Amines Chemicals Limited ·
Balkrishna Paper Mill ·
D.B. Chemical ·
Dicitex Décor Exports ·
Dicitex Décor Private Limited ·
Gandhar Coal and Mines ·
Gaps Power ·
H International ·
Indocount Industries Limited ·
Jain Coal Corporation ·
Magna Industries ·
Mahewshwari Coal Supplier |
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No. of Employees : |
3. (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institute: |
Kotak Mahindra Prime Limited |
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Auditors : |
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Name : |
M. D. Khushtale Chartered Accountant |
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Address : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs. 100/- Each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000 |
Equity Shares |
Rs. 100/-
each |
Rs. 7.500
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 |
7.500 |
7.500 |
0.300 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.597 |
3.509 |
0.801 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
14.097 |
11.009 |
1.101 |
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LOAN FUNDS |
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1] Secured Loans |
35.972 |
32.774 |
19.120 |
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2] Unsecured Loans |
0.000 |
3.638 |
10.335 |
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TOTAL BORROWING |
35.972 |
36.412 |
29.455 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
50.069 |
47.421 |
30.556 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.693 |
11.799 |
10.256 |
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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 |
45.289
|
20.580 |
6.787 |
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Sundry Debtors |
33.945
|
28.970 |
16.616 |
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Cash & Bank Balances |
0.523
|
6.831 |
4.353 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
17.496
|
0.275 |
0.239 |
|
Total
Current Assets |
97.253
|
56.656 |
27.995 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
57.339
|
20.515 |
6.953 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.538
|
0.519 |
0.742 |
|
Total
Current Liabilities |
57.877
|
21.034 |
7.695 |
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Net Current Assets |
39.376
|
35.622 |
20.300 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
50.069 |
47.421 |
30.556 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL |
218.300 |
196.612 |
150.600 |
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PROFIT |
3.087 |
2.708 |
0.709 |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
250.000 |
Expected Sales (2011-2012) : Rs. 300.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.66
|
5.22 |
33.74 |
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Current Ratio (Current Asset/Current Liability) |
|
1.68
|
2.69 |
3.64 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Aaditya Coal |
0.000 |
2.601 |
0.000 |
|
Agarwal Coal Corporation Private Limited |
7.351 |
0.000 |
0.000 |
|
Alif Enterprises |
0.001 |
0.000 |
0.000 |
|
Bhatia Internatinal Limited |
1.223 |
1.198 |
[5.787] |
|
Bhupendra Water Supplier |
0.000 |
0.003 |
0.000 |
|
Coastal Energy Private Limited |
[0.038] |
1.062 |
[0.034] |
|
Dharamtar Infrastructure Limited |
[0.219] |
[0.099] |
[0.029] |
|
Goods Prints |
0.000 |
0.003 |
0.000 |
|
Ici Coal and Mines Private Limited |
22.881 |
[0.417] |
0.000 |
|
Lakha Michand Coverji and Company |
0.000 |
0.002 |
0.000 |
|
Jess Ideas Private Limited |
0.749 |
0.000 |
0.000 |
|
Knowledge Infrastructure Systems Private Limited |
3.922 |
0.000 |
0.000 |
|
Jain Coal Corporaiton |
[0.663] |
1.927 |
0.000 |
|
Maheshwari Coal Suppliers |
0.000 |
8.386 |
0.000 |
|
M M Traders |
[0.831] |
0.894 |
2.777 |
|
Shakti Trading company |
3.126 |
4.209 |
0.000 |
|
Shreya Trading Company |
0.000 |
3.500 |
0.000 |
|
Nobel Resources and Trading Ind. Limited |
0.142 |
[10.000] |
0.000 |
|
Jaram Shivaji and Sons |
0.000 |
0.000 |
0.426 |
|
Prashant Naik |
[0.066] |
0.142 |
[0.075] |
|
Rishiji Transport |
0.000 |
0.436 |
0.000 |
|
Shiv-Shakti Transports Company |
0.933 |
0.747 |
0.000 |
|
Shri Sai Enterprises |
0.003 |
0.000 |
10.152 |
|
Shree Shyam Industries |
0.041 |
0.000 |
0.000 |
|
Shree Omtee Coal Private Limited |
0.000 |
0.618 |
0.000 |
|
Suchetan Exp. Private Limited |
18.764 |
2.265 |
[0.073] |
|
Suprabhat Transport Company |
0.000 |
3.038 |
[0.404] |
|
Tring Detective and Security Solutions Private Limited |
0.020 |
0.000 |
0.000 |
|
Total |
57.339 |
20.515 |
6.953 |
Note:
The Registered office of the company has been shifted from 228/29,
Mangalwar Peth, Pune-411011,
Trade References:
·
Indocount Industries Limited
·
Shree Hari Chemical Limited
·
Magna Industries
Financial results and operations:
The accounts pertain for the period form 1st
April 2009 to 31st March 2010.
In the year the company has recorded a total
turnover of Rs. 218.300 Millions. the company has successfully achieved growth
in sales by 09.31% on year on year basis. After charging all the expenses the company
has earned a profit of Rs. 3.087 Millions in the earlier year. Considering the
challenging business environment, the company‘s performance can be termed as
satisfactory.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51909PN2006PTC021770 |
|
Name of the
company |
BLACK GOLD EXIM PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
11/4, Kharadi-Mundhwa, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10090627 |
|
Type of charge |
Immovable Property Book Debts Movable Property (not being pledge) Others |
|
Particular of
charge holder |
Punjab National Bank, Aundh Branch, 1/2/3 |
|
Nature of
instrument creating charge |
Deed of Mortgage |
|
Date of instrument
Creating the charge |
15.12.2009 |
|
Amount secured by
the charge |
Rs. 35.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR + 1% i.e.
12.50% as on date or such other rate that the bank may fix form time to time
with monthly rests. Terms of
Repayment Validity for
sanction of Working Capital Limits is for 12 months and company to apply for
renewal of limits within 10 months from the date of sanction. Margin Stock: 25% Book Debts: 50% Extent and
Operation of the charge 1st
Charge toe the extent of borrowed amount. |
|
Short particulars
of the property charged |
Land at Gut No.
12 and 15 at village Talashet, Tal. Alibaugh, District Raigad. Admj. 3.20
hector. Land at CTS No.
1091, S.No. 28/1 to 20/1A+ 28/1 , 20/2B flat No. 101 on 1st Floor
Admj. 1164 sq.ft. + terrace 61 sq.ft.
in Silver Oak – 2 Mouje Wanawarie, Tal Haveli, District Pune |
|
Date of
instrument modifying the charge |
31.10.2009 |
|
Particulars of the
present modification |
Additional
Security of immovable property situated at Alibaugh, District Raigad and
Wanawarie, District Pune to secure Cash credit facility of Rs. 35.000
Millions |
Fixed Assets:
·
Car
·
Computer
·
Electrification
·
Factory Cosntruction
·
Furniture
·
JCB
·
Land
·
Office
·
Loader Vehicle
·
Machinery
·
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
NO |
|
--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.