MIRA
INFORM REPORT
|
Report Date : |
09.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE METAL AND ALLOYS |
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Registered
Office : |
Lalmani Building, 3rd Floor, Office No.B1, B2, 25/31, Dr.
A. M. Road, Bhuleshwar, Mumbai – 400002, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 (Provisional) |
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Year of
Establishment : |
2008 |
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Capital
Investment / Paid-up Capital : |
Rs.20.464 Millions |
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PAN No.: [Permanent Account No.] |
AOWPS2550K |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business
: |
Importer of Aluminium Scrap, Ingots and Brass. |
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No. of Employees
: |
17 (Office – 5, Godown – 10 and Branch – 2) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is an established concern in its field. Trade relations are
reported as fair, The valuation report parted is of a lesser value than the
proposal amount. No complaints have been heard from indirect or market
sources. 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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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. Manak Salecha |
|
Designation : |
General Manager |
|
Contact No.: |
91-9320022199 |
|
Email : |
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|
Date : |
05.05.2011 |
LOCATIONS
|
Registered Office : |
Lalmani Building, 3rd Floor, Office No.B1, B2, 25/31, Dr. A.
M. Road, Bhuleshwar, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-22412621/ 22412622 |
|
Mobile No.: |
91-9320022199 (Mr. Manak Salecha) |
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Fax No.: |
91-22-66376677 |
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E-Mail : |
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Location : |
Owned |
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Branch Office : |
6/8, Khanderao Wadi, 1st Floor, Room No.12, Dadiseht Agairy
Lane, Kalbadevi, Mumbai – 400002, Maharashtra, India |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Omprakash C. Salecha |
|
Designation : |
Proprietor |
|
Address : |
1804, Siddesh Appartment, 18th Floor, 2nd Khatar
Galli, Thakurdwar, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1976 |
|
Qualification : |
B. Com |
|
Experience : |
14 years |
KEY EXECUTIVES
|
Name : |
Mr. Manak Salecha |
|
Designation : |
General Manager |
BUSINESS DETAILS
|
Line of Business : |
Importer of Aluminium Scrap, Ingots and Brass. |
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Terms : |
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|
Selling : |
L/C, Cash and Credit (30-60 days) |
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|
|
|
Purchasing : |
L/C, Credit (60 days) |
GENERAL INFORMATION
|
Suppliers : |
· Alloy Tech Arundraya Metal Industries Bhairav metal Industries Bothra Metals and Alloys (Private) Limited BSP Enterprises Galco Industries Private Limited Ishaan engineering Jaipan Applaness K J V alloys Conductors Limited Krum Alloys Industries Private Limited Laxmi Metal and Company Lila Aluminium Private Limited Maruti metals Nagpur Pyrowrite Private Limited Phoenix Industries Limited RMA Bangalore R S Metal Sahara metal Industries Shree Ganesh Metal Shree Pomani Metals and alloys Limited Shree Ratna Chintamani Star Metal Industries Suresh Metals Corporation Vaibhav Metals Corporation Vivek Enterprises |
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Customers : |
Wholesalers, Retailers and End Users · Ahirant Impex Balaji Impex Bhairav Enterprises Big Trade Agency Bostam Enterprises Humat Sales Private Limited Jigna Enterprises Parekh Petro chemicals Parshna and Company Reliance Trading Company Rishabh Shipping Agency Ruchi Impex |
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No. of Employees : |
17 (Office – 5, Godown – 10 and Branch – 2) |
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Bankers : |
· Kotak Mahindra Bank Bhagat Tarachand House, Opposite Cottan Exchange, Kalbadevi, Mumbai –
400002, Maharashtra, India · State Bank of Jaipur and Bikaner HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. Chandulal and Company (Proprietor Mr. Suresh C. Shah), M. No. 37266
Chartered Accountant |
|
Address : |
6/D/80, Sonawal Building, Tardeo, Mumbai – 400007, Maharashtra, India |
|
Mobile No.: |
91-9821246679 |
CAPITAL STRUCTURE
PROPRIETOR’S
CAPITAL ACCOUNT
(RS. IN MILLIONS)
|
Particulars |
31.03.2011 (Provision) |
|
|
|
|
Opening Balance |
11.286 |
|
Add: Contribution |
2.823 |
|
Add: Other Income |
-- |
|
Add: Net Profit from Business |
8.044 |
|
Less: Withdrawals |
1.688 |
|
|
|
|
Closing Balance |
20.464 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note: Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
20.464 |
11.287 |
4.002 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20.464 |
11.287 |
4.002 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.237 |
0.382 |
|
|
2] Unsecured Loans |
12.339 |
12.339 |
0.900 |
|
|
TOTAL BORROWING |
12.339 |
12.576 |
1.282 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
32.803 |
23.863 |
5.284 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.397 |
0.473 |
0.562 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.046
|
21.455 |
38.395 |
|
|
Sundry Debtors |
67.601
|
40.928 |
9.314 |
|
|
Cash & Bank Balances |
0.016
|
2.428 |
3.166 |
|
|
Other Current Assets |
0.022
|
0.888 |
0.001 |
|
|
Loans & Advances |
0.000
|
0.020 |
0.020 |
|
Total
Current Assets |
79.685
|
65.719 |
50.896 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
30.916
|
25.969 |
45.229 |
|
|
Other Current Liabilities |
6.789
|
7.933 |
0.137 |
|
|
Provisions |
9.574
|
8.427 |
0.808 |
|
Total
Current Liabilities |
47.279
|
42.329 |
46.174 |
|
|
Net Current Assets |
32.406
|
23.390 |
4.722 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
32.803 |
23.863 |
5.284 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
550.602 |
456.933 |
212.073 |
|
|
|
Other Income |
0.000 |
0.004 |
0.000 |
|
|
|
TOTAL (A) |
550.602 |
456.937 |
212.073 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
393.236 |
184.098 |
|
|
|
Additional duty Paid |
|
11.656 |
0.000 |
|
|
|
Clearing and forwarding |
|
9.445 |
0.000 |
|
|
|
Custom duty Paid |
|
26.721 |
22.952 |
|
|
|
Wages and Hamali |
|
0.727 |
0.005 |
|
|
|
Freight Inwards |
|
0.253 |
0.467 |
|
|
|
Commission |
|
3.120 |
0.542 |
|
|
|
Godown Rent |
541.645 |
0.163 |
0.177 |
|
|
|
Local Freight |
|
1.250 |
0.000 |
|
|
|
Office Rent |
|
0.108 |
0.060 |
|
|
|
Salary and Bonus |
|
2.453 |
1.322 |
|
|
|
Staff Welfare |
|
0.168 |
0.000 |
|
|
|
Travelling Expenses |
|
0.213 |
0.000 |
|
|
|
Transportation Charges |
|
2.212 |
0.000 |
|
|
|
Other Expenses |
|
0.815 |
0.172 |
|
|
|
TOTAL (B) |
541.645 |
452.540 |
209.795 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.957 |
4.397 |
2.278 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.838 |
1.009 |
0.441 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.119 |
3.388 |
1.837 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.075 |
0.090 |
0.051 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT (E-F) (G) |
8.044 |
3.298 |
1.786 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.46
|
0.72 |
0.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.46
|
0.72 |
0.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.04
|
4.98 |
3.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.29 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.91
|
4.86 |
11.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69
|
1.55 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
ASSESSMENT OF WORKING CAPITAL REQUIREMENT
OPERATING
STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Provisional) |
(Projected) |
(Projected) |
|
|
|
|
|
|
Gross
Sales |
|
|
|
|
|
|
|
|
|
Sales |
550.602 |
660.722 |
792.867 |
|
Export Sales |
-- |
-- |
-- |
|
Other Operating Income |
-- |
-- |
-- |
|
Export Sales (trg.) |
-- |
-- |
-- |
|
|
|
|
|
|
Total
|
550.602 |
660.722 |
792.867 |
|
|
|
|
|
|
Less : Excise Duty |
-- |
-- |
-- |
|
|
|
|
|
|
Net Sales |
550.602 |
660.722 |
792.867 |
|
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to
previous year |
20.50% |
20.00% |
20.00% |
|
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
|
|
Raw Materials Consumed (Including Stores and
Other Items Used in the Process of Manufacture) |
|
|
|
|
Imported |
-- |
-- |
-- |
|
Indigenous |
461.809 |
601.171 |
682.905 |
|
|
|
|
|
|
Others Stores and Spares |
|
|
|
|
Imported |
-- |
-- |
-- |
|
Indigenous |
-- |
-- |
-- |
|
|
|
|
|
|
Power and Fuel |
-- |
-- |
-- |
|
Direct Wages (Factory Wages and Salaries) |
59.447 |
71.337 |
85.664 |
|
Repairs and Maintenance |
-- |
-- |
-- |
|
Other Manufacturing Expenses |
-- |
-- |
-- |
|
Depreciation |
0.075 |
0.050 |
0.025 |
|
|
|
|
|
|
Sub
Total |
521.331 |
672.557 |
768.534 |
|
|
|
|
|
|
Add: Opening stocks in process |
-- |
-- |
-- |
|
|
|
|
|
|
Deduct:
Closing stocks in process |
-- |
-- |
-- |
|
|
|
|
|
|
Cost
of production |
521.331 |
672.557 |
768.534 |
|
|
|
|
|
|
Add: Opening stock of Finished Goods
(Trading) |
21.455 |
12.046 |
49.411 |
|
|
|
|
|
|
Add: Opening stock of Finished Goods
(Manufacturing) |
-- |
-- |
-- |
|
|
|
|
|
|
Sub
Total |
542.786 |
684.603 |
817.945 |
|
|
|
|
|
|
Deduct : Closing stock of Finished Goods
(Trading) |
12.046 |
49.411 |
56.129 |
|
|
|
|
|
|
Deduct : Closing stock of Finished Goods
(Manufacturing) |
-- |
-- |
-- |
|
|
|
|
|
|
SUB TOTAL (Total
cost of sales) |
542.786 |
684.603 |
817.945 |
|
|
|
|
|
|
Selling, General and Administrative Expenses |
10.980 |
11.000 |
12.500 |
|
|
|
|
|
|
Sub
Total |
541.720 |
646.192 |
774.316 |
|
|
|
|
|
|
Operating Profit before interests |
8.882 |
14.530 |
18.551 |
|
|
|
|
|
|
Interests |
0.838 |
4.594 |
4.594 |
|
|
|
|
|
|
Operating profit after Interests |
8.044 |
9.936 |
13.957 |
|
|
|
|
|
|
Add : Other Non Operating Income |
-- |
-- |
-- |
|
|
|
|
|
|
Less: Other Non Operating Expenses |
-- |
-- |
-- |
|
|
|
|
|
|
Profit
before Tax/ Loss [PBT] |
8.044 |
9.936 |
13.957 |
|
|
|
|
|
|
Provision for taxes |
-- |
-- |
-- |
|
|
|
|
|
|
Net
Profit / Loss [PAT] |
8.044 |
9.936 |
13.957 |
|
|
|
|
|
|
Retained Profit |
8.044 |
9.936 |
13.957 |
|
|
|
|
|
|
Retained
Profit/ Net Profit (% age) |
100.00 |
100.00 |
100.00 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Provisional) |
(Projected) |
(Projected) |
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
|
Short Term Borrowing from Bank |
|
|
|
|
i. From Application Bank |
-- |
20.000 |
20.000 |
|
ii. From Other Banks |
-- |
-- |
-- |
|
|
|
|
|
|
SUB
TOTAL |
-- |
20.000 |
20.000 |
|
|
|
|
|
|
Short Term Borrowings From Others |
-- |
-- |
-- |
|
Sundry Creditors (Trader) |
30.916 |
49.411 |
56.129 |
|
Advances Payment from customers |
6.789 |
9.289 |
11.789 |
|
Provision For Taxes |
-- |
-- |
-- |
|
Creditor for Expenses |
-- |
-- |
-- |
|
Dividend Payable |
-- |
-- |
-- |
|
Other Statutory Liabilities (due within one years) |
-- |
-- |
-- |
|
Installments of term loans and Deferred Payment Credits |
-- |
-- |
-- |
|
Other current Liabilities and Provisions (due within one
years) |
9.574 |
10.074 |
10.574 |
|
|
|
|
|
|
SUB
TOTAL |
47.279 |
68.774 |
78.492 |
|
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
47.279 |
88.774 |
98.492 |
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
Debentures |
-- |
-- |
-- |
|
Redeemable Preference Shares |
-- |
-- |
-- |
|
Term Loans |
-- |
-- |
-- |
|
Deferred Payment Credits |
-- |
-- |
-- |
|
Term Deposit |
12.339 |
12.339 |
12.339 |
|
Other Term Liabilities/
Unsecured Loans |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL
TERM LIABILITIES |
12.339 |
12.339 |
12.339 |
|
|
|
|
|
|
TOTAL
OF OUTSIDE LIABILITIES |
59.618 |
101.113 |
110.831 |
|
|
|
|
|
|
NET
WORTH |
|
|
|
|
Capital Account |
20.464 |
28.213 |
39.482 |
|
Application Money |
-- |
-- |
-- |
|
Partner’s Current A/c |
-- |
-- |
-- |
|
General Reserve |
-- |
-- |
-- |
|
Revolution Reserve |
-- |
-- |
-- |
|
Reserves and Surplus |
-- |
-- |
-- |
|
Unsecured Loans |
-- |
-- |
-- |
|
Share Premium Account |
-- |
-- |
-- |
|
Surplus (+) or deficit (-) in Profit and Loss Account |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL
NET WORTH |
20.464 |
28.213 |
39.482 |
|
|
|
|
|
|
TOTAL
LIABILITIES |
80.082 |
129.326 |
150.312 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.016 |
1.138 |
0.450 |
|
Investments [Other than long term investments] |
-- |
-- |
-- |
|
Receivables other than deferred and exports |
67.601 |
72.408 |
86.890 |
|
Export receivables |
-- |
-- |
-- |
|
Government and other Trustee securities |
-- |
-- |
-- |
|
Fixed deposit with bank |
-- |
-- |
-- |
|
Domestic receivable Including BP/ BD |
-- |
-- |
-- |
|
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
|
|
Raw Materials |
|
|
|
|
Imported |
-- |
-- |
-- |
|
Indigenous |
-- |
-- |
-- |
|
|
|
|
|
|
Stock in Process |
-- |
-- |
-- |
|
Finished Goods (Trading) |
12.046 |
49.411 |
56.129 |
|
Other Consumable Spares |
-- |
-- |
-- |
|
Advances to suppliers |
0.022 |
6.022 |
6.522 |
|
Advance Payment of Taxes |
-- |
-- |
-- |
|
Other Current Assets |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
79.685 |
128.979 |
149.991 |
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
|
|
Gross Block (Land and Building Machinery) |
0.562 |
0.562 |
0.562 |
|
Depreciation to date |
0.165 |
0.215 |
0.240 |
|
|
|
|
|
|
NET
BLOCK |
0.397 |
0.347 |
0.322 |
|
|
|
|
|
|
OTHER
NON CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
Investments in sub |
-- |
-- |
-- |
|
Advances to suppliers of Capital goods and contractors |
-- |
-- |
-- |
|
Investment in Others |
-- |
-- |
-- |
|
Other Non-Current Investment |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL
OTHER NON CURRENT ASSETS |
-- |
-- |
-- |
|
|
|
|
|
|
Intangible Assets |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL
ASSETS |
80.082 |
129.326 |
150.313 |
|
|
|
|
|
|
Tangible Net Worth (TNW) |
20.464 |
28.213 |
39.481 |
|
|
|
|
|
|
Net Working Capital (NWC) |
32.406 |
40.205 |
51.498 |
|
|
|
|
|
|
Current Ratio |
1.69 |
1.45 |
1.52 |
|
|
|
|
|
|
DSCR |
-- |
3.17 |
4.04 |
|
|
|
|
|
|
Total Outside Liabilities/ Tangible Net worth |
2.91 |
3.58 |
2.81 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
(RS IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Provisional) |
(Projected) |
(Projected) |
|
A CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
Raw Materials |
|
|
|
|
[a] Imported |
-- |
-- |
-- |
|
Months Consumption |
-- |
-- |
-- |
|
[b] Indigenous |
-- |
-- |
-- |
|
Months Consumption |
-- |
-- |
-- |
|
|
|
|
|
|
Other consumable spares |
|
|
|
|
[a] Imported |
-- |
-- |
-- |
|
Months Consumption |
-- |
-- |
-- |
|
[b] Indigenous |
-- |
-- |
-- |
|
Months Consumption |
-- |
-- |
-- |
|
|
|
|
|
|
Stock in process |
-- |
-- |
-- |
|
Months cost of production |
-- |
-- |
-- |
|
|
|
|
|
|
Finished goods |
12.046 |
49.411 |
56.129 |
|
Months cost of sales |
-- |
-- |
-- |
|
|
|
|
|
|
Receivable other than export and deferred receivables
[including bills purchased and discounted by bankers] |
67.601 |
72.408 |
86.590 |
|
Months domestic sales |
-- |
-- |
-- |
|
|
|
|
|
|
Export receivables [including bills
purchased and discounted by bankers months export sales] |
-- |
-- |
-- |
|
|
|
|
|
|
Advances to suppliers of raw materials and
stores/ spares consumable |
0.022 |
6.022 |
6.522 |
|
|
|
|
|
|
Other current Assets including cash and bank
balances and deferred receivable due within one year |
0.016 |
1.138 |
0.450 |
|
|
|
|
|
|
TOTAL CURRENT ASSETS |
79.685 |
128.979 |
149.991 |
|
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
|
[Other than bank borrowing for working capital] |
|
|
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
30.916 |
49.411 |
56.129 |
|
Months Consumption |
-- |
-- |
-- |
|
|
|
|
|
|
Advances from customers |
6.789 |
9.289 |
11.789 |
|
|
|
|
|
|
Statutory liabilities |
-- |
-- |
-- |
|
|
|
|
|
|
Other current liability including short term
borrowing dividend payable, installment of DPG public deposit, debentures etc
|
9.574 |
10.074 |
10.574 |
|
|
|
|
|
|
TOTAL |
47.279 |
68.774 |
78.492 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF
MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Provisional) |
(Projected) |
(Projected) |
|
|
|
|
|
|
Total Current Assets |
79.685 |
128.979 |
149.991 |
|
|
|
|
|
|
Other Current Liabilities (other than bank borrowing) |
47.279 |
68.774 |
78.492 |
|
|
|
|
|
|
Working capital gap [WCG] |
32.406 |
60.205 |
71.498 |
|
|
|
|
|
|
Min. stipulated Net Working Capital – 25 % of total current assets other than Export Receivables |
8.102 |
15.051 |
17.875 |
|
|
|
|
|
|
Actual/ Projected net working capital |
32.406 |
40.205 |
51.498 |
|
|
|
|
|
|
Item 3 minus item 4 |
24.305 |
45.153 |
53.624 |
|
|
|
|
|
|
Item 3 minus item 5 |
-- |
20.000 |
20.000 |
|
|
|
|
|
|
Maximum permissible bank finance |
-- |
20.000 |
20.000 |
|
|
|
|
|
|
Excess borrowings, if any representing shortfall in NWC |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
FUND
FLOW STATEMENT
(RS. IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Provisional) |
(Projected) |
(Projected) |
|
SOURCES |
|
|
|
|
|
|
|
|
|
Net profit After Tax |
8.044 |
9.936 |
13.957 |
|
|
|
|
|
|
Depreciation |
0.075 |
0.050 |
0.025 |
|
|
|
|
|
|
Increase in Capital |
1.135 |
(2.188) |
(2.688) |
|
|
|
|
|
|
Increase in Term Liability |
-- |
-- |
-- |
|
|
|
|
|
|
Decrease in |
|
|
|
|
-
Fixed Assets |
-- |
-- |
-- |
|
-
Other Non Current Assets |
-- |
-- |
-- |
|
|
|
|
|
|
Others |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL SOURCES |
9.253 |
7.798 |
11.294 |
|
|
|
|
|
|
USES |
|
|
|
|
|
|
|
|
|
Net Loss |
-- |
-- |
-- |
|
|
|
|
|
|
Decrease in Term Liability |
0.237 |
-- |
-- |
|
|
|
|
|
|
Increase in |
|
|
|
|
-
Fixed Assets |
-- |
-- |
-- |
|
-
Other Non Current Assets |
-- |
-- |
-- |
|
|
|
|
|
|
Dividend Payments |
-- |
-- |
-- |
|
|
|
|
|
|
Withdrawals |
-- |
-- |
-- |
|
|
|
|
|
|
Other Unsecured Loans |
-- |
-- |
-- |
|
|
|
|
|
|
TOTAL USES |
0.237 |
-- |
-- |
|
|
|
|
|
|
Long Term Surplus (+) Deficit (-) |
9.016 |
7.798 |
11.294 |
|
|
|
|
|
|
Increase/ Decrease in current Assets (as per details Given Below) |
13.965 |
49.294 |
21.012 |
|
|
|
|
|
|
Increase/ decrease in current Liabilities other Than Bank Borrowing |
4.950 |
21.495 |
9.718 |
|
|
|
|
|
|
Increase/ decrease Working Capital Gap |
9.016 |
27.798 |
11.294 |
|
|
|
|
|
|
Net surplus (+)/ Deficit (-) |
0.000 |
(20.000) |
0.000 |
|
|
|
|
|
|
Break-Up of (4) |
|
|
|
|
|
|
|
|
|
Increase/ Decrease in Raw Material |
-- |
-- |
-- |
|
|
|
|
|
|
Increase/ Decrease in Stock in Process |
-- |
-- |
-- |
|
|
|
|
|
|
Increase/ Decrease in Finished Goods |
(9.409) |
37.365 |
6.718 |
|
|
|
|
|
|
Increase/ Decrease in Receivables |
|
|
|
|
Domestic |
26.673 |
4.807 |
14.482 |
|
Export |
-- |
-- |
-- |
|
|
|
|
|
|
Increase/ Decrease in Other current Assets |
(3.298) |
7.121 |
(0.188) |
|
|
|
|
|
|
Total |
13.966 |
49.294 |
21.012 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT OF IMMOVABLE PROPERTY
PART
– I (QUESTIONNAIRE)
GENERAL
INFORMATION
|
Purpose for which valuation made |
To assess the Fair Market Value for the purpose of collateral security / availing Credit facility from
Corporation Bank, Lower Parel Branch. |
|
|
|
|
Date on which visit made |
17th January 2011 |
|
|
|
|
Name of the owner/ owners |
Mrs. Latha O. Salecha |
|
|
|
|
If the property is under joint ownership co - ownership, share of each
owner, Is the share undivided |
Lease Ownership as per agreement dtd 31/12/2009 Share Certificate No.32 and 33 dtd 15/9/1996 Distinctive No: 176 to 180 and 181 to 185 respectively. |
|
|
|
|
Brief description of the property. |
The said property consists of Residential Premises On 3rd
Floor, Flat No. B-1 and B-2 Combined, At Lalmani CHS Limited |
|
|
|
|
Location, Street, Ward No. |
At Bhuleshwar, Mumbai - 400 002 |
|
|
|
|
Survey / Plot No. of Land |
Cadastral Survey No.2328, 2329 at Bhuleshwar Division, Tal – Mumbai |
|
|
|
|
It the Property Situated in residential! Commercial / mixed / industrial area |
Residential and Commercial area |
|
|
|
|
Classification of locality - high class/ middle class/ poor class. |
Higher Middle Class. |
|
|
|
|
Proximity to civic amenities like schools offices, hospitals, market,
cinemas, etc. |
Available at about 0.5 to 1 km distance. Railway Station, Charni Road
(E) at 1 km distance. |
|
|
|
|
Means and proximity to surface Communication by which the locality is
Served. |
Autos, Buses, Taxis and suburban Railway service available |
|
|
|
|
LAND |
|
|
|
|
|
Area of land supported by documentary |
Residential Premises On 3rd Floor, Flat No. B-1 and B-2
Combined At Lalmani CHS Limited Admeasuring Carpet Area 376 sq ft (actual) (Combined) & Built up area 526 sq ft (Actual) and Carpet area 375 sq ft as
per agreement |
|
|
|
|
Road or lanes on which land is abutting |
At |
|
|
|
|
Is it Freehold or Leasehold |
Leasehold |
|
|
|
|
Does the land fall in area included in town planning scheme or any development
of Govt. of any statutory body? If so give particulars |
Falls within limits of MCGM Taluka – Mumbai |
|
|
|
|
Has any contribution been made towards development or is any
contribution still outstanding? |
Surrounding by compound wall and gates. |
|
|
|
|
What is the amount of property tax? Who to bear it? Give details with
documentary Proof. |
Rs. 352/- Included In Society Maintenance Charges Combined of Rs.4641/
quarter and Borne By Owner. |
|
|
|
|
SALES |
|
|
Give instance of sale of immovable property in the locality on a
separate sheet including the name and address of the property, registration
No. sale price and area land sold. |
The Fair Market Value of the said Property is assessed from the market
survey and inquiry from Local Estate Agents. The Flat is on 3 floor Bldg is
48 years old. |
|
|
|
|
If sale instances are not available or relied upon the basis of
arriving at the land rate |
Considering the above factors the Fair Market Value of said Premises
is as follows Combined Carpet area 375 sft @ Rs.42000/- Rs.15.750 Millions. Reconstruction Cost 375 sft Rs.3500/- Rs.13,12,500/- |
|
|
|
|
COST OF
CONSTRUCTION |
|
|
Year of commencement of construction and year of completion. |
Prior to 1961-62 |
TECHNICAL DETAILS FOR THE
PREMISES
|
No of floor and height of floor. |
Gr. + 4th Floors having 10’-0” height |
|
|
|
|
Plinth area - floor wise (As per is: 3861-1966) |
Residential Premises On 3rd Floor, Flat No. B-1 And B-2 Combined At Lalmani CHS Limited Admeasuring Carpet Area 376 sq ft (actual) (Combined) and Built up area 526 sq ft as per my opinion. and Carpet
area 375 sq ft as per agreement |
|
|
|
|
Year of construction |
prior to 1962-62 |
|
|
|
|
Estimated future life |
Approx. 25 years |
|
|
|
|
Type of construction – load bearing wall/ RCC |
RCC Framed Structure |
|
|
|
|
Type of foundation |
RCC |
|
|
|
|
Walls |
|
|
Basement and plinth |
9” thick brick/ stone masonry |
|
Super structure above |
9” thick brick masonry |
|
|
|
|
Partitions |
NA |
|
|
|
|
Flooring (Floor – wise) |
Wooden Frame, Flush Door and Aluminum Windows. |
|
|
|
|
Finishing (Floor – wise) |
Sand face cement plaster externally and neeru cement plaster
internally. |
|
|
|
|
Roofing and terracing |
R.C.C. flat roof |
|
|
|
|
Special architectural or decorative features if any. |
Not Provided |
|
|
|
|
Internal wiring- surface or conduit. |
Conduit. |
|
Class of fittings superior / ordinary /poor |
Good Quality |
|
|
|
|
Sanitary installations. |
Toilets provided |
|
Class of fittings superior coloured/ superior white / ordinary |
Good quality |
|
|
|
|
Compound wall |
Masonary wall Provided with
Gates. |
|
|
|
|
No. of lifts and capacity |
One |
|
|
|
|
Underground |
Provided |
|
Capacity |
As per MCGM regulations |
|
Type of construction |
RCC |
|
|
|
|
Overhead Tank |
Provided |
|
Where located |
On Toilet Block |
|
Capacity |
As per NMMC regulations |
|
Type of construction |
RCC |
|
|
|
|
Pumps Nos. and their horsepower |
Provided of adequate capacity |
|
|
|
|
Road and paving within the compound, approx area. |
Chequered Tiles paving
|
|
|
|
|
Sewage disposal, whether connected to public sewers. If
Septic tanks provided, no and capacity. |
Connected to Public Sewer. |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF
ASSETS AND LIABILITIES
NAME
OF THE APPLICANT: MR. OMPRAKASH SALECHA
NAME
OF THE GUARANTOR: MRS. LATHA OM SALECHA
(RS.
IN MILLIONS)
ASSETS
IMMOVABLE
PROPERTY
|
Address of the property with survey No. etc. |
1804, 18th
Floor, |
B1, B2, |
|
|
|
|
|
Description: Land/ site/ Building |
Flat |
Flat |
|
|
|
|
|
Whether – Freeholds/ Leasehold |
Freehold |
Freehold |
|
|
|
|
|
Type of Property: Commercial / Residential/ Agricultural |
Residential |
Office |
|
|
|
|
|
Area / extent of Land |
495 sq. ft. |
430 sq. ft. |
|
|
|
|
|
Mortgaged for availing loan of any, details thereof |
-- |
-- |
|
|
|
|
|
Present Market/
Assessed Value |
Rs.17.500 Millions |
Rs.17.500 Millions |
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the
Company/ firm/ concern in Which Investment is made |
Reliance Metals
Alloys |
-- |
|
|
|
|
|
Date of Investments |
31.03.2011 |
-- |
|
|
|
|
|
Present
Value of Investment |
Rs.20.464 Millions |
-- |
SHARES/
DEBENTURES/ MUTUAL FUNDS/ UNITS ETC.
|
Present Value |
-- |
Rs.0.078 Million |
OTHER
ASSETS
|
Bhiwandi Gala |
1.500 |
-- |
|
|
|
|
|
Cash in Hand |
0.114 |
0.130 |
|
|
|
|
|
Jewellery |
1.283 |
1.464 |
|
|
|
|
|
Investment in Residence |
1.500 |
-- |
|
|
|
|
|
Total Value of
other Assets |
4.397 |
1.594 |
|
TOTAL ASSETS |
RS.42.361 MILLIONS |
RS.19.172 MILLIONS |
|
NET PROFIT |
RS.42.361 MILLIONS |
RS.19.172 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT OF IMMOVABLE PROPERTY
PART
– I (QUESTIONNAIRE)
GENERAL
INFORMATION
|
Purpose for which valuation made |
To assess the Fair Market Value for the purpose of collateral security / availing Credit facility from
Corporation Bank, Lower Parel Branch. |
|
|
|
|
Date on which visit made |
17th January 2011 |
|
|
|
|
Name of the owner/ owners |
Mr. Omprakash C. Salecha. |
|
|
|
|
If the property is under joint ownership co - ownership, share of each
owner, Is the share undivided |
Ownership as per agreement dtd 21/05/2010 |
|
|
|
|
Brief description of the property. |
The said property consists of Residential Premises On 18th
Floor, Flat No. 1804, At Siddhesh Apartment |
|
|
|
|
Location, Street, Ward No. |
At 2nd |
|
|
|
|
Survey / Plot No. of Land |
Cadastral Survey No.2267 to 2270 At Bhuleshwar division, Tal –
Mumbai |
|
|
|
|
It the Property Situated in residential! Commercial / mixed / industrial area |
Residential and Commercial area |
|
|
|
|
Classification of locality - high class/ middle class/ poor class. |
Higher Middle Class. |
|
|
|
|
Proximity to civic amenities like schools offices, hospitals, market,
cinemas, etc. |
Available at about 0.5 to 1 km distance. Railway Station, Charni Road (E)
at 1 km distance. |
|
|
|
|
Means and proximity to surface Communication by which the locality is
Served. |
Autos, Buses, Taxis and suburban Railway service available |
|
|
|
|
LAND |
|
|
|
|
|
Area of land supported by documentary |
Residential Premises On 18th floor, Flat No. 1804 At Siddhesh Apartment Admeasuring Carpet Area 529 sq ft (actual) and Built up area 741 sq ft and Carpet area 375 sq ft as per agreement. |
|
|
|
|
Road or lanes on which land is abutting |
At 2nd |
|
|
|
|
Is it Freehold or Leasehold |
Freehold |
|
|
|
|
Does the land fall in area included in town planning scheme or any development
of Govt. of any statutory body? If so give particulars |
Falls within limits of MCGM Taluka – Mumbai |
|
|
|
|
Has any contribution been made towards development or is any
contribution still outstanding? |
Surrounding by compound wall and gates. |
|
|
|
|
What is the amount of property tax? Who to bear it? Give details with
documentary Proof. |
Included In Society Maintenance Charges and Borne by Owners. . |
|
|
|
|
SALES |
|
|
Give instance of sale of immovable property in the locality on a
separate sheet including the name and address of the property, registration
No. sale price and area land sold. |
The Fair Market Value of the said Property is assessed from the market
survey and inquiry from Local Estate Agents. The Flat is on 18th
floor Bldg is 4 years old. |
|
|
|
|
If sale instances are not available or relied upon the basis of
arriving at the land rate |
Considering the above factors the Fair Market Value of said Premises
is as follows The Carpet area 529 sft @ Rs.35000/- Rs.18.515 Millions. Reconstruction Cost 529 sft Rs.3500/- Rs.18,51,500/- |
|
|
|
|
COST OF
CONSTRUCTION |
|
|
Year of commencement of construction and year of completion. |
years 2005-06 |
TECHNICAL DETAILS FOR THE
PREMISES
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No of floor and height of floor. |
Gr. + 24th Floors having 9’-6” height |
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Plinth area - floor wise (As per is: 3861-1966) |
Residential Premises On 18th Floor, Flat No. 1804 at
Siddhesh Apartment. Admeasuring Carpet Area 529 sq ft (actual) and Built up area 741 sq ft as per my opinion. and Carpet area 373 sq
ft as per agreement |
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Year of construction |
years 2005-06 |
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Estimated future life |
Approx. 60 years |
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Type of construction – load bearing wall/ RCC |
RCC Framed Structure |
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Type of foundation |
RCC |
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Walls |
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Basement and plinth |
9” thick brick/ stone masonry |
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Super structure above |
9” thick brick masonry |
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Partitions |
NA |
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Flooring (Floor – wise) |
Wooden Frame, Flush Door and Aluminum Windows. |
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Finishing (Floor – wise) |
Sand face cement plaster externally and neeru cement plaster
internally. |
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Roofing and terracing |
R.C.C. flat roof |
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Special architectural or decorative features if any. |
Not Provided |
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Internal wiring- surface or conduit. |
Conduit. |
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Class of fittings superior / ordinary /poor |
Good Quality |
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Sanitary installations. |
Two Toilets provided |
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Class of fittings superior coloured/ superior white / ordinary |
Good quality |
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Compound wall |
Masonary wall Provided with
Gates. |
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No. of lifts and capacity |
Three |
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Underground |
Provided |
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Capacity |
As per MCGM regulations |
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Type of construction |
RCC |
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Overhead Tank |
Provided |
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Where located |
On Toilet Block |
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Capacity |
As per MCGM regulations |
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Type of construction |
RCC |
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Pumps Nos. and their horsepower |
Provided of adequate capacity |
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Road and paving within the compound, approx area. |
Chequered Tiles paving
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Sewage disposal, whether connected to public sewers. If Septic
tanks provided, no and capacity. |
Connected to Public Sewer. |
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FIXED ASSETS
· Computers
Electric
Fitting
Mobile
Phone
Office
Equipment
Motor
Car
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.44.78 |
|
|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.65.27 |
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.