. Summary Information
|
|
|
Country |
|
|
Company Name |
Titanium Ten Enterprise Private Limited |
Principal Name 1 |
Mr. Rohitkumar Hasmukhlal Kapadia |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Shalu Tejashkumar Kapadia |
|
|
|
Registration # |
04-055075 |
|
Street Address |
1005- Krishna Market, Near |
||
|
Established Date |
18.09.2008 |
SIC Code |
-- |
|
Telephone# |
91-261-2321615/ 3003389 |
Business Style 1 |
Trader |
|
Fax # |
91-261-2329672 |
Business Style 2 |
Exporter |
|
Homepage |
-- |
Product Name 1 |
Yarn |
|
# of employees |
-- |
Product Name 2 |
- |
|
Paid up capital |
Rs.997,000/- |
Product Name 3 |
- |
|
Shareholders |
Bodies corporate 14.00%, Directors or relatives of
directors 73.00%, Other top fifty shareholders 13.00% |
Banking |
New India Co-operative Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
-- |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
81,310,000 |
Current Liabilities |
22,208,000 |
|
Inventories |
14,468,000 |
Long-term Liabilities |
64,510,000 |
|
Fixed Assets |
6,622,000 |
Other Liabilities |
2,755,000 |
|
Deferred Assets |
000 |
Total Liabilities |
89,473,000 |
|
Invest& other Assets |
535,000 |
Retained Earnings |
10,842,000 |
|
|
|
Net Worth |
13,462,000 |
|
Total Assets |
102,935,000 |
Total Liab. & Equity |
102,935,000 |
|
Total Assets (Previous Year) |
13,803,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
504,029,000 |
Net Profit |
4,147,000 |
|
Sales(Previous yr) |
5,213,000 |
Net Profit(Prev.yr) |
(1,375,000) |
MIRA INFORM
REPORT
|
Report Date : |
04.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
TITANIUM TEN ENTERPRISE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
1005- Krishna Market, Ground Floor, Near |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
18.09.2008 |
|
|
|
|
Com. Reg. No.: |
04-055075 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U52100GJ2008PTC055075 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
SRTT01173E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCT0316N |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Trader, Exporter and Importer of Yarn. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 53000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The
company has been successful in wiping off the losses of the previous year.
Trade relations are fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered for normal 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
1005- Krishna Market, Ground Floor, Near Surat Textile Market, Ring Road,
Surat – 395002, Gujarat, India |
|
Tel. No.: |
91-261-2321615/ 3003389 |
|
Fax No.: |
91-261-2329672 |
|
E-Mail : |
|
|
Area : |
300 sq. ft. (Owned) |
|
|
|
|
Warehouse : |
Plot No.660, Near Palsana, B/H Hotel Himalaya, Taluka Palsana, |
|
Area : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Rohitkumar Hasmukhlal Kapadia |
|
Designation : |
Director |
|
Address : |
28, Nehru Nagar Society, |
|
Date of Birth/Age : |
04.09.1943 |
|
Qualification : |
B. com |
|
Date of Appointment: |
18.09.2008 |
|
|
|
|
Name : |
Mrs. Shalu Tejashkumar Kapadia |
|
Designation : |
Director |
|
Address : |
28, Nehru Nagar Society, |
|
Date of Birth/Age : |
24.08.1973 |
|
Qualification : |
Interior Decorator |
|
Date of Appointment: |
18.09.2008 |
|
|
|
|
Name : |
Mrs. Ilaben Rohitkumar Kapadia |
|
Designation : |
Director |
|
Address : |
28, Nehru Nagar Society, |
|
Date of Birth/Age : |
15.10.1943 |
|
Date of Appointment: |
01.04.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rohitkumar Hasmukhlal Kapadia |
|
36622 |
|
Shalu Tejashkumar Kapadia |
|
8800 |
|
Rohitkumar Hasmukhlal Kapadia HUF |
|
13010 |
|
Ilaben Kapadia |
|
26520 |
|
T. Vieha Kapadia |
|
880 |
|
Sahani Shar Vankumar Chananmal |
|
1 |
|
Tejas |
|
13840 |
|
|
|
|
|
Total |
|
99673 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
14.00 |
|
Directors
or relatives of directors |
|
73.00 |
|
Other
top fifty shareholders |
|
13.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Yarn. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
DSI and Company Chartered Accountant |
|
Address : |
MF/14-26, Nariman Point Shopping Centre, Near Raghuvir Bunglows, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
99673 |
Equity Shares |
Rs.10/- each |
Rs.0.997
Millions |
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
212695 |
Equity Shares |
Rs.10/- each |
Rs.2.127
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.997 |
0.317 |
|
|
2] Share Application Money |
|
1.623 |
1.520 |
|
|
3] Reserves & Surplus |
|
10.842 |
1.954 |
|
|
4] (Accumulated Losses) |
|
0.000 |
(1.374) |
|
|
NETWORTH |
|
13.462 |
2.417 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
63.823 |
6.083 |
|
|
2] Unsecured Loans |
|
0.687 |
0.000 |
|
|
TOTAL BORROWING |
|
64.510 |
6.083 |
|
|
DEFERRED TAX LIABILITIES |
|
0.811 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
78.783 |
8.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
6.622 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.500 |
0.500 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
14.468 |
4.325 |
|
|
Sundry Debtors |
|
68.798 |
2.009 |
|
|
Cash & Bank Balances |
|
7.731 |
3.871 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
4.781 |
3.042 |
|
Total
Current Assets |
|
95.778 |
13.247 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
22.208 |
4.971 |
|
|
Other Current Liabilities |
|
0.000 |
0.300 |
|
|
Provisions |
|
1.944 |
0.032 |
|
Total
Current Liabilities |
|
24.152 |
5.303 |
|
|
Net Current Assets |
|
71.626 |
7.944 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.035 |
0.056 |
|
|
|
|
|
|
|
|
TOTAL |
|
78.783 |
8.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
504.029 |
5.213 |
|
|
|
Other Income |
|
0.632 |
0.093 |
|
|
|
TOTAL (A) |
|
504.661 |
5.306 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material |
|
481.022 |
10.093 |
|
|
|
Manufacturing and operation expenses |
|
11.111 |
0.000 |
|
|
|
Sales and administrative expenses |
|
7.505 |
0.252 |
|
|
|
Preliminary expenses written off |
|
0.012 |
0.003 |
|
|
|
|
|
499.650 |
10.348 |
|
|
|
Increase/ decrease in stocks |
|
(8.182) |
(4.324) |
|
|
|
TOTAL (B) |
|
491.468 |
6.024 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
13.193 |
(0.718) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
6.316 |
0.657 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
6.877 |
(1.375) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.972 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
5.905 |
(1.375) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
1.758 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
4.147 |
(1.375) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(1.375) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
2.772 |
(1.375) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
41.69 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
0.82 |
(25.91) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
1.17 |
(26.38) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
5.77 |
(10.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.44 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
6.59 |
4.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.97 |
2.50 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges Report
as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U52100GJ2008PTC055075 |
|
Name of the
company |
TITANIUM TEN
ENTERPRISE PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
1005- Krishna Market, Ground Floor, Near Surat Textile Market, Ring
Road, Surat – 395002, Gujarat, India |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
The South Indian Bank Limited, 21st Century Business
Centre, Ring Road, Surat-395002, |
|
Email |
|
|
Nature of description
of the instrument creating or modifying the charge |
Agreement of
hypothecation |
|
Date of
instrument Creating the charge |
09.10.2010 |
|
Amount secured by
the charge |
Rs.170.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CCOL Rs. 90.000
Millions 3.90 Above Base Rate i.e. 12%
Monthly letter of credit
Rs. 80.000 Millions 3.90 Above Base
Rate i.e. 12% Monthly Terms of
Repayment CCOL Rs. 90.000
Millions Repayable on Demand and Renewed Every Year. Letter of Credit
Rs. 80.000 Millions
Repayable on Demand and Renewed Every Year. Margin CCOL Rs. 90.000
Millions 25% on Stock and 25% on Book
Debts (90 days). Letter of Credit
Rs. 80.000 Millions 15% Extent and
Operation of the charge The Charge Would
be First and Exclusive Charge by way
of Hypothecation of Stock, Book Debts both Present and Future And Machinery,
Vehicles etc. |
|
Short particulars
of the property charged |
Hypothecation of
Stock, Book Debts both Present and Future And Machinery, Vehicles etc. of the
company situated any where |
Fixed Assets:
- Plant and Machinery
- Furniture and Fixtures
- Car
- Equipments
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.44.34 |
|
|
1 |
Rs.70.70 |
|
Euro |
1 |
Rs.65.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.