MIRA
INFORM REPORT
|
Report Date : |
12.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRINITA CHEM |
|
|
|
|
Registered
Office : |
42/44, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Year of
Establishment : |
2004 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 4.634 Millions |
|
|
|
|
IEC No.: |
0309072816 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AJPPM3565J |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Dealer of All type of chemicals on retail and wholesale basis. |
|
|
|
|
No. of
Employees: |
Approximately 4 (in office) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established concern in its field. Trade relations are
reported as fair. The valuation report and other details provided seems to be
acceptable. 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) |
|
|
A1 |
A1 |
|
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. Nitin J Mehta |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9819075969 |
|
Date : |
10.05.2011 |
LOCATIONS
|
Registered Office : |
42/44, |
|
Tel. No.: |
91-22-23450014/ 17 |
|
Mobile No.: |
91-9819075969 (Mr. Nitin J Mehta) |
|
Fax No.: |
91-22-66312270/ 71 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
|
|
|
Branch office : |
111, 1st Floor, 33, |
|
Tel. No.: |
91-22-23450014/ 17 |
|
Fax No.: |
91-22-66312270 |
|
Area : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Nitin J Mehta |
|
Designation : |
Proprietor |
|
Address : |
21, Jansukh Apartment, |
|
Date of Birth/Age : |
04.09.1954 |
|
Qualification : |
B.Com |
|
Experience : |
35 Years |
BUSINESS DETAILS
|
Line of Business : |
Dealer of All type of chemicals on retail and wholesale basis. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30-60 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30-60 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
Approximately 4 (in office) |
|
|
|
|
Bankers : |
UCO Bank, Punjab National Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A P Doshi and Company Chartered Accountant |
|
Address : |
201, Bhaveshwar Complex, Vidyavihar (West), Mumbai-400086, |
|
Tel. No.: |
91-22-25146854/ 55 |
|
E-Mail : |
|
|
PAN No.: |
AJPPM3565J |
CAPITAL STRUCTURE
As on 31.03.2011
|
Capital Investment : |
|
|
Owned : |
Rs. 1.621 Millions |
|
Borrowed : |
Rs. 3.013 Millions |
|
Total : |
Rs. 4.634 Millions |
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 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
1.621 |
1.213 |
0.767 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.489 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
[0.329] |
0.000 |
|
|
NETWORTH |
2.110 |
0.884 |
0.767 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.054 |
0.203 |
0.337 |
|
|
2] Unsecured Loans |
2.959 |
1.392 |
0.621 |
|
|
TOTAL BORROWING |
3.013 |
1.595 |
0.958 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.123 |
2.479 |
1.725 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.446 |
0.519 |
0.590 |
|
|
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 |
10.046
|
1.732 |
0.729 |
|
|
Sundry Debtors |
9.377
|
5.411 |
2.383 |
|
|
Cash & Bank Balances |
0.615
|
[0.015] |
0.239 |
|
|
Other Current Assets |
0.028
|
0.028 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.028 |
|
Total
Current Assets |
20.066
|
7.156 |
3.379 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
15.339
|
4.333 |
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
15.389
|
4.867 |
2.244 |
|
|
Net Current Assets |
4.677
|
2.289 |
1.135 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.123 |
2.479 |
1.725 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
65.983 |
25.042 |
13.846 |
|
|
|
Other Income |
0.271 |
0.000 |
0.000 |
|
|
|
TOTAL |
66.254 |
25.042 |
13.846 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
63.798 |
23.252 |
12.895 |
|
|
|
Salary and Bonus |
0.148 |
0.114 |
0.000 |
|
|
|
Administrative Expenses |
0.000 |
0.000 |
0.433 |
|
|
|
Warehousing Charges |
0.248 |
0.109 |
0.000 |
|
|
|
Insurance Charges |
0.013 |
0.016 |
0.000 |
|
|
|
Bank Charges |
0.023 |
0.005 |
0.000 |
|
|
|
Bank Interest |
0.000 |
0.000 |
0.046 |
|
|
|
Other Expenses |
1.443 |
1.111 |
0.033 |
|
|
|
TOTAL |
65.673 |
24.607 |
13.407 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.581 |
0.435 |
0.439 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.092 |
0.106 |
0.108 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.489 |
0.329 |
0.331 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.020 |
0.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.489 |
0.309 |
0.301 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.74
|
1.23 |
2.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.74
|
1.31 |
2.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.09
|
4.29 |
8.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.37 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.72
|
7.31 |
4.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.47 |
1.51 |
LOCAL AGENCY FURTHER INFORMATION
STATEMENT
OF ASSETS AND LIABILITIES
MR. NITIN J MEHTA
(PROPRIETOR)
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the Company/ Firm/ Concern in which investment is made |
Amount of
Deposit (Rs. in Millions) |
|
Balance of Capital account in Proprietory
concern Prinita Chem |
1.213 |
|
Total |
1.213 |
LIFE
INSURANCE POLICIES
|
Policy No. |
Surrender Value As on (Rs. in Millions) |
|
Various Policies |
0.500 |
IMMOVABLE
PROPERTIES
|
Name of the Owner |
Description of the Property |
Location/ Address of property (Please furnish full details with survey
no., door no. etc.) |
Extent of Building Area Constructed |
|
Mr. Nitin J Mehta |
Residential Flat |
21, Jansukh Apartment, |
-- |
|
|
|
|
|
|
Mr. Nitin J Mehta |
Residential House |
|
1100.00 |
|
Type of property i.e. whether residential/ agriculture/ industrial/
commercial etc. |
Details of documents conferring right |
Original purchase Cost (Rs. in Millions) |
Present Market Value as on (Rs. in Millions) |
|
Residential Flat |
Valuation Repot |
NA |
11.500 |
|
|
|
|
|
|
Residential House |
|
-- |
4.000 |
|
|
|
|
|
|
|
|
Total |
15.500 |
OTHER
ASSETS
|
Nature/ Details of Assets |
Market Value as
on 31.03.2010 (Rs. in
Millions) |
|
Cash in hand |
0.250 |
|
Ornaments |
0.300 |
|
Total |
0.550 |
|
TOTAL ASSETS |
RS. 17.763 MILLIONS |
|
TOTAL LIABILITIES |
NIL |
|
NETWORTH |
RS. 17.763 MILLIONS |
ASSESSMENT OF WORKING
CAPITAL REQUIREMENTS
OPERATING STATEMENT
(Rs. in Millions)
|
Particulars |
Current
year Estimates |
Following Year
Projection |
|
31.03.2011 |
31.03.2012 |
|
|
1. Gross Sales (Net of Returns) |
|
|
|
a) Domestic Sales |
65.109 |
78.131 |
|
b) Export Sales |
0.000 |
0.000 |
|
|
|
|
|
Sub Total |
65.109 |
78.131 |
|
|
|
|
|
2. Less : Excise Duty |
0.000 |
0.000 |
|
|
|
|
|
3. Net Sales (Item 1 – Item 2) |
65.109 |
78.131 |
|
|
|
|
|
4. % age rise (+) or fall (-) in Net Sales |
-- |
-- |
|
|
|
|
|
5. Cost of Sales |
|
|
|
|
|
|
|
i. Raw Materials |
|
|
|
a) Imported |
0.000 |
0.000 |
|
b) Indigenous |
69.400 |
74.694 |
|
|
|
|
|
ii. Other Spares |
|
|
|
a) Imported |
0.000 |
0.000 |
|
b) Indigenous |
0.000 |
0.000 |
|
|
|
|
|
iii. Power and Fuel |
0.000 |
0.000 |
|
|
|
|
|
iv. Direct Labour |
0.000 |
0.000 |
|
|
|
|
|
v. Other Manufacturing Expenses |
1.666 |
1.978 |
|
|
|
|
|
vi. Depreciation |
0.090 |
0.076 |
|
|
|
|
|
vii. Sub- Total (i to vi) |
71.155 |
76.748 |
|
|
|
|
|
viii. Opening Stock in progress |
0.000 |
0.000 |
|
|
|
|
|
Sub Total |
71.155 |
76.748 |
|
|
|
|
|
ix. Closing Stock in progress |
0.000 |
0.000 |
|
|
|
|
|
x. Cost of Production |
71.155 |
76.748 |
|
|
|
|
|
xi. Opening stock of finished goods |
1.732 |
9.766 |
|
|
|
|
|
Sub- total |
72.888 |
86.514 |
|
|
|
|
|
xii. Closing Stock of finished goods |
9.766 |
11.720 |
|
|
|
|
|
Total Cost of Sales |
63.121 |
74.795 |
|
|
|
|
|
6. Gross Profit |
1.988 |
3.337 |
|
|
|
|
|
7. Selling, General and Administrative
Expenses |
0.812 |
0.893 |
|
|
|
|
|
8. Operating Profit before interest |
1.176 |
2.443 |
|
|
|
|
|
9. Interest |
0.233 |
1.260 |
|
|
|
|
|
10. Operating Profit After Interest (8-9) |
0.943 |
1.183 |
|
|
|
|
|
11. Other income/ expenses |
|
|
|
Income |
0.000 |
0.000 |
|
Expenses |
0.000 |
0.000 |
|
|
|
|
|
12. Profit before taxes (10+11) |
0.943 |
1.183 |
|
|
|
|
|
13. Provision for taxation |
0.000 |
0.000 |
|
|
|
|
|
14. Net Profit / Loss (12-13) |
0.943 |
1.183 |
|
|
|
|
|
15 a) Equity Dividend Paid |
0.000 |
0.000 |
|
b) Dividend Profit |
0.000 |
0.000 |
|
|
|
|
|
16. Retained Profit (14-15) |
0.943 |
1.183 |
|
|
|
|
|
Retained Profit/ Net Profit % |
100% |
100% |
COMPARATIVE STATEMENT OF CURRENT
ASSETS AND CURRENT LIABILITIES
(Rs. in Millions)
|
Particulars |
Current
year Estimates |
Following Year
Projection |
|
31.03.2011 |
31.03.2012 |
|
|
A. CURRENT ASSETS |
|
|
|
|
|
|
|
i. Raw Materials |
|
|
|
a) Imported |
0.000 |
0.000 |
|
(month’s consumption) |
0.000 |
0.000 |
|
b) Indigenous |
0.000 |
0.000 |
|
(month’s consumption) |
0.000 |
0.000 |
|
|
|
|
|
ii. Other consumable spares |
0.000 |
0.000 |
|
(% of total inventory and months’
consumption) |
0.000 |
0.000 |
|
|
|
|
|
iii. Stock-in-process |
0.000 |
0.000 |
|
(month’s cost of production) |
0.000 |
0.000 |
|
|
|
|
|
iv. Finished Goods |
9.766 |
11.720 |
|
(month’s cost of sales) |
1.86 |
1.88 |
|
|
|
|
|
v. Receivables |
10.852 |
11.394 |
|
(month’s receipts) |
2.00 |
1.75 |
|
|
|
|
|
vi. Advances to suppliers |
0.000 |
0.000 |
|
|
|
|
|
vii. Other current assets including cash and
bank balances |
0.396 |
0.597 |
|
|
|
|
|
Total Current
Assets |
21.014 |
23.711 |
|
|
|
|
|
II. CURRENT LIABILITIES |
|
|
|
|
|
|
|
i. Creditors for purchase of raw materials
and stores and consumables spares |
5.205 |
6.224 |
|
(month’s hire charges paid) |
0.90 |
1.00 |
|
|
|
|
|
ii. Advances from customers |
0.000 |
0.000 |
|
|
|
|
|
iii. Accrued Expenses |
0.000 |
0.000 |
|
|
|
|
|
iv. Statutory Liabilities |
0.000 |
0.000 |
|
|
|
|
|
v. Other current Liabilities |
0.000 |
0.000 |
|
|
|
|
|
Total Current
Liabilities |
5.205 |
6.224 |
COMPUTATION OF MAXIMUM
PERMISSIBLE BANK FINANCE
1st Method
of lending
(Rs. in Millions)
|
Particulars |
Current
year Estimates |
Following Year
Projection |
|
31.03.2011 |
31.03.2012 |
|
|
1. Total Current Assets |
21.014 |
23.711 |
|
|
|
|
|
2. Total Current Liabilities |
5.205 |
6.224 |
|
|
|
|
|
3. Net Working Capital Gap (1-2) |
15.809 |
17.486 |
|
|
|
|
|
4. Minimum Stipulated net working capital
(25% of item 1) |
5.253 |
5.928 |
|
|
|
|
|
5. Actual/ projected net working capital |
5.809 |
7.486 |
|
|
|
|
|
6. Item 3 minus item 4 |
10.556 |
11.559 |
|
|
|
|
|
7. Item 3 minus item 5 |
10.000 |
10.000 |
|
|
|
|
|
8. Maximum permissible bank finance |
10.000 |
10.000 |
|
|
|
|
|
10. Excess borrowing to be converted into working capital term loan
(4-5) |
0.000 |
0.000 |
2nd Method of lending
(Rs. in Millions)
|
Particulars |
Current
year Estimates |
Following Year
Projection |
|
31.03.2011 |
31.03.2012 |
|
|
1. Total Turnover |
65.109 |
78.131 |
|
|
|
|
|
2. 25% of Turnover |
16.277 |
19.533 |
|
|
|
|
|
3. Less: 5% Margin |
3.255 |
3.907 |
|
|
|
|
|
4. Net Working Capital |
5.809 |
7.486 |
|
|
|
|
|
5. Item 2 Minus 3 |
13.022 |
15.626 |
|
|
|
|
|
6. Item 2 minus 4 |
10.468 |
12.046 |
|
|
|
|
|
7. Maximum Permissible Finance |
10.468 |
12.046 |
BALANCE SHEET
(Rs. in Millions)
|
Particulars |
Current
year Estimates |
Following Year
Projection |
|
31.03.2011 |
31.03.2012 |
|
|
1. Short term borrowings from banks
(including bills purchased and discounted and the excess borrowings and placed
on repayment basis) |
|
|
|
a) From applicant banks |
10.000 |
10.000 |
|
b) From other banks |
0.000 |
0.000 |
|
|
10.000 |
10.000 |
|
2. Short Term borrowings form others |
0.000 |
0.000 |
|
|
|
|
|
3 a) Sundry creditors (trade) |
5.205 |
6.224 |
|
b)
Sundry Expenses |
0.000 |
0.000 |
|
|
|
|
|
4. Advance/ progress payments from
customers/ deposits form dealers, selling agents etc. |
0.000 |
0.000 |
|
|
|
|
|
5. Provision for tax |
0.000 |
0.000 |
|
|
|
|
|
6. Dividend Payable |
0.000 |
0.000 |
|
|
|
|
|
7. Other Statutory liabilities (due within 1
year) |
0.000 |
0.000 |
|
|
|
|
|
8. Installment of Term Loans/ Deferred
payment credit/ Debentures/ redeemable preference shares (due within one
year) |
0.000 |
0.000 |
|
|
|
|
|
9. Other current liabilities provision (due
within year) |
0.000 |
0.000 |
|
|
|
|
|
10. Total Current Liabilities |
15.205 |
16.224 |
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
11. Debentures (not maturing within year) |
0.000 |
0.000 |
|
|
|
|
|
12. Redeemable Preference shares (not
maturing within year) |
0.000 |
0.000 |
|
|
|
|
|
13. Term Loan (excluding of installments,
payable within one year) |
0.083 |
0.000 |
|
|
|
|
|
14. Deferred Payment Credit (excluding of
installment payable within 1) |
0.000 |
0.000 |
|
|
|
|
|
15. Term deposits and unsecured loans from
relatives (repayable after one year) |
4.000 |
4.500 |
|
|
|
|
|
16. Other term liabilities |
0.000 |
0.000 |
|
|
|
|
|
17. Total Term Liabilities |
4.083` |
4.500 |
|
|
|
|
|
18. Total Outside Liabilities |
19.288 |
20.724 |
|
|
|
|
|
19. Capital |
1.213 |
2.156 |
|
|
|
|
|
20. General Reserve |
0.000 |
0.000 |
|
|
|
|
|
21. Revaluation Reserve |
0.000 |
0.000 |
|
|
|
|
|
22. Other reserves |
0.000 |
0.000 |
|
|
|
|
|
23. Surplus in Profit and Loss Account |
0.943 |
1.183 |
|
|
|
|
|
24. Net Worth |
2.156 |
3.339 |
|
|
|
|
|
25 Total Liabilities |
21.443 |
24.064 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
26. Cash and bank balances |
0.146 |
0.347 |
|
|
|
|
|
27. Investments: |
|
|
|
a. Government and other trustee’s securities |
0.000 |
0.000 |
|
b. Fixed deposits with banks |
0.000 |
0.000 |
|
|
|
|
|
28. Receivables other than deferred and
export receivables (including bills purchased and discounted by
banks) |
10.852 |
11.394 |
|
|
|
|
|
29. Installments of deferred receivables
(due within year) |
0.000 |
0.000 |
|
|
|
|
|
30. Inventory |
|
|
|
a. Raw Material |
|
|
|
i) Imported |
0.000 |
0.000 |
|
ii) Indigenous |
9.766 |
11.720 |
|
|
|
|
|
b. Stock in process |
0.000 |
0.000 |
|
c. finished Goods |
0.000 |
0.000 |
|
d. Other Consumable Spares |
0.000 |
0.000 |
|
|
|
|
|
31. Advances to suppliers of raw materials
and stores/ spares consumables |
0.000 |
0.000 |
|
|
|
|
|
32. Advance payment of taxes |
0.000 |
0.000 |
|
|
|
|
|
33. Other current assets |
|
|
|
Prepaid expenses and advances to employees |
0.250 |
0.250 |
|
Deposits |
0.000 |
0.000 |
|
|
|
|
|
34. Total Current Assets |
21.014 |
23.711 |
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
35. Gross Block |
0.519 |
0.429 |
|
|
|
|
|
36. Depreciation |
0.090 |
0.076 |
|
|
|
|
|
37. Total Fixed Assets |
0.429 |
0.353 |
|
|
|
|
|
OTHER NON-CURRENT ASSETS |
|
|
|
|
|
|
|
38. Installments, book debts etc. |
0.000 |
0.000 |
|
|
|
|
|
39. Non- Consumable stores |
0.000 |
0.000 |
|
|
|
|
|
40. Other Assets |
0.000 |
0.000 |
|
|
|
|
|
41. Total Other non-current assets |
0.000 |
0.000 |
|
|
|
|
|
42. Intangible assets |
0.000 |
0.000 |
|
|
|
|
|
43. Total Assets |
21.443 |
24.064 |
|
|
|
|
|
44. Tangible Net Worth |
2.156 |
3.339 |
|
|
|
|
|
45. Net Working Capital |
5.809 |
7.486 |
|
|
|
|
|
46. Current Ratio |
1.38 |
1.46 |
|
|
|
|
|
47. Total Outside Liabilities/ Tangible
Networth (18/44) |
8.95 |
6.21 |
FUNDS FLOW STATEMENT
(Rs. in Millions)
|
Particulars |
Current
year Estimates |
Following Year
Projection |
|
31.03.2011 |
31.03.2012 |
|
|
SOURCES |
|
|
|
|
|
|
|
1. Profit before tax |
0.943 |
1.183 |
|
|
|
|
|
2. Add: Depreciation |
0.090 |
0.076 |
|
|
|
|
|
3. Gross Funds Generated |
1.033 |
1.260 |
|
|
|
|
|
4. Less: Taxes Paid/ Payable |
0.000 |
0.000 |
|
|
|
|
|
5. Less: Proposed Dividend |
0.000 |
0.000 |
|
|
|
|
|
Sub- Total (a) |
1.033 |
1.260 |
|
|
|
|
|
6. Increase in Capital |
0.000 |
0.000 |
|
|
|
|
|
7. Increase in term loan/ debentures/
deferred payment liabilities |
0.000 |
0.000 |
|
|
|
|
|
8. Increase in unsecured loan |
2.058 |
0.500 |
|
|
|
|
|
9. Increase in Public deposits |
0.000 |
0.000 |
|
|
|
|
|
10. Decrease in fixed assets |
0.000 |
0.000 |
|
|
|
|
|
11. Decrease in investment |
0.000 |
0.000 |
|
|
|
|
|
12. Decrease in non-current assets |
0.000 |
0.000 |
|
|
|
|
|
Sub- total (b) |
2.058 |
0.500 |
|
|
|
|
|
13. Increase in short term bank borrowings
(including bills purchased and discounted by banks) |
10.000 |
0.000 |
|
|
|
|
|
14. Increase in other current liabilities |
0.228 |
1.019 |
|
|
|
|
|
15. Decrease in Inventory |
0.000 |
0.000 |
|
|
|
|
|
16. Decrease in receivables (including bills
purchased and discounted by banks) |
0.000 |
0.000 |
|
|
|
|
|
17. Decrease in other current assets
(including cash and bank) |
0.287 |
0.000 |
|
|
|
|
|
Sub- Total (c) |
10.516 |
1.019 |
|
|
|
|
|
Total Funds Available (a+b+c) |
13.607 |
2.779 |
|
|
|
|
|
USES |
|
|
|
|
|
|
|
18. Increase in fixed assets |
0.000 |
0.000 |
|
|
|
|
|
19. Decrease in Term Loan, Debentures,
Unsecured loan |
0.120 |
0.083 |
|
|
|
|
|
20. Decrease in Public Deposits |
0.000 |
0.000 |
|
|
|
|
|
21. Decrease in Capital |
0.000 |
0.000 |
|
|
|
|
|
22. Increase in inter-corporate investment
and advances |
0.000 |
0.000 |
|
|
|
|
|
23. Increase in other non-current assets |
0.000 |
0.000 |
|
|
|
|
|
24. Decrease in investment allowance Revenue |
0.000 |
0.000 |
|
|
|
|
|
Sub- Total (d) |
0.120 |
0.083 |
|
|
|
|
|
25. Decrease in short term bank borrowing
(including bills purchased and discounted by banks) |
0.000 |
0.000 |
|
|
|
|
|
26. Decrease in inventory |
0.000 |
0.000 |
|
|
|
|
|
27. Increase in inventory |
8.034 |
1.953 |
|
|
|
|
|
28. Increase in receivables (including bills
purchased and discounted by banks) |
5.453 |
0.543 |
|
|
|
|
|
29. Increase in other current assets
(including cash and bank) |
0.000 |
0.201 |
|
|
|
|
|
Sub – total (e) |
13.487 |
2.697 |
|
|
|
|
|
30. Loss |
0.000 |
0.000 |
|
|
|
|
|
31. Less: Depreciation |
0.000 |
0.000 |
|
|
|
|
|
32. Gross Fund Lost |
0.000 |
0.000 |
|
|
|
|
|
33. Add: Taxes Paid/ Payable |
0.000 |
0.000 |
|
|
|
|
|
34. Add: Dividend Paid/ Payable |
0.000 |
0.000 |
|
|
|
|
|
Sub – Total (f) |
0.000 |
0.000 |
|
|
|
|
|
Total Funds used (d+e+f) |
13.607 |
2.780 |
|
|
|
|
|
SUMMARY |
|
|
|
|
|
|
|
Long term Sources |
3.091 |
1.760 |
|
Less: Long term uses |
0.120 |
0.083 |
|
Surplus/ Shortfall |
2.971 |
1.677 |
|
|
|
|
|
Short Term Sources |
10.516 |
1.019 |
|
Less: Short term uses |
13.487 |
2.697 |
|
Surplus/ Shortfall |
[2.971] |
[1.677] |
ANALYTICAL AND COMPARATIVE
DATA
(Rs. in Millions)
|
Particulars |
Current
year Estimates |
Following Year
Projection |
|
31.03.2011 |
31.03.2012 |
|
|
1. Net Sales |
65.109 |
78.131 |
|
|
|
|
|
2. % rise of fall |
160% |
20% |
|
|
|
|
|
3. Profit Before Tax |
0.943 |
1.183 |
|
|
|
|
|
4. Profit after tax |
0.943 |
1.183 |
|
|
|
|
|
5 a) Equity Dividend declared |
0.000 |
0.000 |
|
b) Equity Dividend paid |
0.000 |
0.000 |
|
c) Rate % of (a) |
0.000 |
0.000 |
|
d) rate % of (b) |
0.000 |
0.000 |
|
|
|
|
|
6. Retained profit |
0.943 |
1.183 |
|
|
|
|
|
7. Retained/ Net Profit% |
100% |
100% |
|
|
|
|
|
8. Raw Material |
|
|
|
a) Imported |
0.000 |
0.000 |
|
(Month’s Consumption) |
0.000 |
0.000 |
|
|
|
|
|
b) Indigenous |
0.000 |
0.000 |
|
(Month’s Consumption) |
0.000 |
0.000 |
|
|
|
|
|
9. Stock-in-process |
0.000 |
0.000 |
|
(Month’s cost of production) |
0.000 |
0.000 |
|
|
|
|
|
10. Finished Goods |
9.766 |
11.720 |
|
(Month’s cost of sales) |
1.86 |
1.88 |
|
|
|
|
|
11. Other Consumable Spares |
0.000 |
0.000 |
|
(% of total inventory) |
0.000 |
0.000 |
|
|
|
|
|
12. Receivables (including bills purchased
and discounted by banks) |
10.852 |
11.394 |
|
(Month’s Sales) |
2.00 |
1.75 |
|
|
|
|
|
13. Sundry Creditors |
5.205 |
6.224 |
|
(Month’s Purchase) |
0.90 |
1.00 |
|
|
|
|
|
14. Net Working Capital |
5.809 |
7.486 |
|
|
|
|
|
15. Current Ratio |
4.04 |
3.80 |
|
|
|
|
|
16. Tangible Net Worth |
2.156 |
3.339 |
|
|
|
|
|
17. a) Total Outside Liabilities/ Tangible
Net Worth (Unsecured loan considered as capital) |
2.44 |
2.07 |
|
|
|
|
|
b) Total Term Liabilities/ Tangible Net
Worth (Unsecured loan considered as capital hence
no other term liabilities is there) |
0.00 |
0.00 |
|
|
|
|
|
18. Bank borrowing s/ Total Outside
Liabilites |
1.92 |
1.61 |
|
|
|
|
|
19. Debt Service Coverage Ratio |
0.20 |
0.52 |
|
|
|
|
|
20. Debt/ Equity Ratio |
1.60 |
1.28 |
|
|
|
|
|
21. Net Sales/ Total Tangible Assets |
30.20 |
23.40 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT OF
IMMOVABLE PROPERTY
|
PART- I
(QUESTIONNAIRE) |
|
|
GENERAL |
|
|
Purpose for which valuation made |
To assess the Fair Market Value for the
purpose of collateral security/ availing credit facility form Corporation
Bank, A.R. Street Branch |
|
|
|
|
Date on which visit made |
27th January 2011 |
|
|
|
|
Name o f the owner/ owners |
Mr. Ninitn Mehta |
|
|
|
|
If the property is under joint ownership
co-ownership, share of each owner, Is the share undivided |
Ownership as per agreement dated share
certificate No. distinctive no. |
|
|
|
|
Brief description of the property |
The said property consists of Residential
premises on 2nd Floor, Flat No. 21 at Jansukh Apartment CHS
Limited |
|
|
|
|
Location, Street, Ward No. |
Off S.V.Road, Kandivali (West),
Mumbai-400067 |
|
|
|
|
Survey/ Plot No. of Land |
S.No. At Village Kandivali, Taluka –
Borivali |
|
|
|
|
If the property situated in residential/
commercial/ mixed/ industrial area |
Residential 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, Kandivali (West) 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 2nd Floor,
Flat No. 21, At Jansukh Apartments CHS Limited Admeasuring Carpet Area 763 sq.ft. (actual)
and built up area 992 sq.ft as per may opinion. |
|
|
|
|
Road or lands on which land is abutting |
Off |
|
|
|
|
Is it freehold or leasehold |
Freehold land |
|
|
|
|
Does the land fall in area included in town
planning scheme or any development of Government of any statutory body? If
so, give particulars |
Falls within limits of MCGM Taluka- Borivali |
|
|
|
|
Has any contribution been made towards
development or is any contribution still outstanding? |
Surrounded by compound wall and gates |
|
|
|
|
IMPROVEMENTS |
|
|
Is the building owner occupied, tenant, or
both |
Owner occupied (Residential Premises) |
|
|
|
|
What is F.S.I. permissible and percentage
actually utilized? |
OC No. Not known |
|
|
|
|
RENTS |
|
|
Give Details of water and electricity charges if any to be
borne by the owner |
Borne by owner |
|
|
|
|
If a pump is installed, who has to bear the
cost |
Cost borne
by the owner |
|
|
|
|
Who has to bear the cost of electricity for
lighting of common space like entrance, hall stairs, compounds etc. |
Maintained by owner and cost borne by owner |
|
|
|
|
What is the amount of property tax? Who to
bear it? Give details with documentary proof |
Included in Society Maintenance Charges and
Borne by Owner |
|
|
|
|
SALES |
|
|
Give instance of sales 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 agent. The
flat is on 2nd Floor Building is 26 years old |
|
|
|
|
Is 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 763 sft. @ Rs. 13300/- = Rs. 10.148 Millions Say= Rs. 10.148 Millions Reconstruction Cost 763 sft @ Rs. 3000/ =
Rs. 2.289 Millions |
|
|
|
|
COST OF CONSTRUCTION |
|
|
Year of Commencement of construction and
year of completion |
Year 1983-85 |
|
|
|
|
TECHNICAL
DETAILS FOR THE PREMISES |
|
|
No. of floor and height of floor |
Ground + 7th Floor having 10’-0”
height |
|
|
|
|
Plinth area- floor-wise (As per is
3861-1966) |
Residential premises on 2nd Floor,
Flat No. 21 at Jansukh Apartment CHS Limited Admeasuring Carpet Area 763 sq.ft. (Actual)
and built up area 992 sq.ft. as per my opinion |
|
|
|
|
Year of Construction |
Year 1983-85 |
|
|
|
|
Estimated future life |
Approximately 25 Years |
|
|
|
|
Types of Construction – load bearing wall/
R.C.C. |
R.C.C. Framed structure |
|
|
|
|
Type of Foundation |
R.C.C. |
|
|
|
|
WALLS |
|
|
a) Basement and Plinth |
9” thick brick/ stone masonry |
|
b) Super structure above |
9” thick brick masonry |
|
|
|
|
Door and windows (Floor –Wise) |
Wooden Frame, Flush Door and Aluminium
Windows |
|
|
|
|
Flooring (Floor-Wise) |
Vitrified Tiles and PVC Carpet Flooring |
|
|
|
|
Finishing (Floor-wise) |
Sand face cement plaster externally and neeru
cement plaster internally |
|
|
|
|
Roofing and terracing |
R.C.C. Flat Roof |
|
|
|
|
a) Internal Wiring- Surface or conduit |
Conduit |
|
b) Class of fittings superior/ ordinary/
poor |
Good Quality |
|
|
|
|
a) Sanitary installation |
One Toilets provided |
|
b) Class of fitting superior coloured/
superior white/ ordinary |
Good Quality |
|
|
|
|
Compound wall |
Masonary Wall provided with gates |
|
|
|
|
No. of lifts and capacity |
Two |
|
|
|
|
Underground sump |
|
|
1. Capacity |
As per MCGM regulation |
|
2. Type of construction |
R.C.C |
|
|
|
|
Overhead Tank |
|
|
1. Where located |
On Toilet Block |
|
2. Capacity |
As per MCGM Regulation |
|
3. Type of Construction |
R.C.C. |
|
|
|
|
Pump no. and their horse power |
Provided of adequate capacity |
|
|
|
|
Roads and paving within the compound, approx
area, type of paving |
Concentrate Coba Paving |
|
|
|
|
Sewage disposal/ whether connected to public
sewers. If septic tanks provided, no. and capacity |
Connected to public sewer. |
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.44.69 |
|
|
1 |
Rs.73.13 |
|
Euro |
1 |
Rs.64.39 |
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.