MIRA
INFORM REPORT
|
Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
TRISTAR TRADELINKS PRIVATE LIMITED |
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Registered
Office : |
A – 204, Neeti Gaurav Complex, Ramdas Peth, Nagpur-440010, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
10.03.1999 |
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Com. Reg. No.: |
11-118781 |
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Capital Investment
/ Paid-up Capital : |
Rs.30.000 Millions |
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CIN No.: [Company Identification
No.] |
U51900MH1999PTC118781 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NGPT01134A |
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PAN No.: [Permanent Account No.] |
AABCP9361K |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Retail Chain Outlets of Branded Showrooms |
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No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 255060 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track.
Financial position of the company is improving. Trade relations are reported as
fair. Business is active. Payments are reported to be usually correct. The company can be considered good for normal business dealings under
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.
INFORMATION PARTED BY
|
Name : |
Mr. Kamal Kothari |
|
Designation : |
Director |
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Contact No.: |
91-9823371000 |
|
Date : |
19.05.2011 |
LOCATIONS
|
A – 204, Neeti
Gaurav Complex, Ramdas Peth, Nagpur-440010, |
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Tel. No.: |
91-712-2545934 |
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Mobile No.: |
91-9823371000 (Mr. Kamal Kothari) 91-9326658711 (Mr. Sunil Namdev) |
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Fax No.: |
91-712-2554740 |
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E-Mail : |
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Website : |
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Area : |
600sq. ft. |
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Location : |
Owned |
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Corporation Office : |
Plot No.2, Near meesium Road, Near |
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Tel. No.: |
91-712-2561914 |
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Fax No.: |
91-712-2565934 |
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Area : |
5000 Sq. Ft |
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Location : |
Owned |
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Showroom : |
Located at:
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Warehouse : |
Located At:
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DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Kamal Kothari |
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Designation : |
Director |
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Address : |
203, Mangalam Apartments, |
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Date of Birth/Age : |
04.01.1969 |
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Qualification : |
Chartered Accounts |
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Date of Appointment : |
10.03.1999 |
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Name : |
Mrs. Preeti Kothari |
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Designation : |
Director |
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Address : |
203, Mangalam Apartments, |
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Date of Birth/Age : |
08.09.1972 |
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Qualification : |
B. Com |
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Date of Appointment : |
10.03.1999 |
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Name : |
Mrs. Mukti Vijay Mohanti |
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Designation : |
Director |
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Address : |
S3/B3, Rashtrasant Tukdoji Maharaj Apartment, Zingabai Takli, |
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Date of Birth/Age : |
19.11.1981 |
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Qualification : |
Graduate |
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Date of Appointment : |
22.04.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.07.2008
|
Names of Shareholders |
|
No. of Shares |
|
Kamal S. Kothari |
|
65028 |
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Preeti Kothari |
|
26278 |
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Anita Parekh Joint Prafulla Parekh |
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1 |
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Ashish Waghela |
|
1 |
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Omprakash Nevatia |
|
1 |
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Sarita Rathi |
|
1 |
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Parag Nevatia Joint Sharayu Nevatia |
|
1 |
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Anjali Nakhate Joint Parag Nakhate |
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1 |
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Avantika S Siras |
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1 |
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Anup Khanna HUF Joint Atul Demble Joint 2 Murlidhar Agarwal |
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1 |
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D S Deshpande Joint 1 Gopaldas joint 2 Kamal Dholwani |
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1 |
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N K Sethi Joint 1 Kiran Kolkhute joint 2 Sangita Rathi |
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1 |
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Vasant Joshi Joint 1 Y N Deshmukh joint 2 Tarini Joshi |
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1 |
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Kamal Kothari HUF |
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1 |
|
Primus Finance Private Limited, |
|
12327 |
|
Allied Trading Company, |
|
96339 |
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Chhotalal Madhavji |
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1 |
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Devidas Katariya |
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1 |
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Narayandas Bamblani |
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1 |
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Ramchand M Chelwani HUF |
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1 |
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T D Investments |
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1 |
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Varun Enterprises |
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1 |
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Abhishek Trust, |
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1 |
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Ajay Kotecha Joint Kanchan Kotecha |
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1 |
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Mrunmai Joshi |
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1 |
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Sumitra Devi Nivatia |
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1 |
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Varsha Laddha |
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1 |
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1 |
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Deepak L Kariya HUF |
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1 |
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Khubhani Investments HUF, |
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1 |
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Radheshyam Sewaram HUF |
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1 |
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Yash Kochkar Joint Vasudha Kochkar Joint Nirdosh Kochkar Karta Kochar
HUF |
|
1 |
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Total |
|
200000 |
Equity Shares break up as on 28.07.2008
|
Category |
|
Percentage |
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Bodies corporate |
|
48.00 |
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Directors or relatives of directors |
|
51.00 |
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Other |
|
1.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Retail Chain Outlets of Branded Showrooms |
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Agencies Held : |
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Terms : |
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Selling : |
Cash / Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash / Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
State Bank of India, Hingna, Industrial Estate Branch, X – 43, MIDC
Area, Nagpur – 440016, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V. K. Surana and Company Chartered Accountant |
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Address : |
VCA Complex, Civil Lines, |
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Tel No.: |
91-712-6641111 |
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Fax No.: |
91-712-6641122 |
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Group Companies : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.100- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.100- each |
Rs.30.000 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 |
30.000 |
20.000 |
10.000 |
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2] Share Application Money |
7.191 |
20.825 |
0.000 |
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3] Reserves & Surplus |
26.574 |
19.803 |
13.663 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
63.765 |
60.628 |
23.663 |
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LOAN FUNDS |
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1] Secured Loans |
145.630 |
101.063 |
91.268 |
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2] Unsecured Loans |
38.484 |
39.510 |
13.531 |
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TOTAL BORROWING |
184.114 |
140.573 |
104.799 |
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DEFERRED TAX LIABILITIES |
1.371 |
0.484 |
0.428 |
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TOTAL |
249.250 |
201.685 |
128.890 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
25.215 |
17.760 |
8.297 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
54.110 |
31.500 |
11.500 |
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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 |
196.526
|
222.666 |
52.329
|
|
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Sundry Debtors |
53.208
|
60.588 |
76.462
|
|
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Cash & Bank Balances |
14.623
|
3.781 |
0.901
|
|
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Other Current Assets |
0.000
|
0.000 |
0.000
|
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Loans & Advances |
3.719
|
11.845 |
18.314
|
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Total
Current Assets |
268.076
|
298.880 |
148.006 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
63.399
|
91.582 |
18.215
|
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Other Current Liabilities |
28.890
|
48.902 |
17.953
|
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Provisions |
5.862
|
5.971 |
2.745
|
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Total
Current Liabilities |
98.151
|
146.455 |
38.913
|
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Net Current Assets |
169.925
|
152.425 |
109.093
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
249.250 |
201.685 |
128.890 |
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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 and Other Income |
619.642 |
487.433 |
279.227 |
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TOTAL |
619.642 |
487.433 |
279.227 |
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Less |
EXPENSES |
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TOTAL |
587.524 |
460.505 |
263.882 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
32.118 |
26.928 |
15.345 |
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|
Less |
FINANCIAL
EXPENSES |
20.859 |
16.425 |
9.503 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.259 |
10.503 |
5.842 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.085 |
0.940 |
0.740 |
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PROFIT BEFORE
TAX |
10.174 |
9.563 |
5.102 |
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Less |
TAX |
3.403 |
3.423 |
1.938 |
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PROFIT AFTER TAX
|
6.771 |
6.140 |
3.164 |
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|
Earnings Per
Share (Rs.) |
33.31 |
31.64 |
NA |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
700.000 |
Expected Sales (2011-12) : Rs.800.000 Millions.
The above information has been parted by Mr. Kamal Kothari.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.09
|
1.26 |
1.13
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.47
|
3.02 |
3.26
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.16 |
0.22
|
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Debt Equity Ratio (Total Liability/Networth) |
|
4.42
|
4.73 |
6.07
|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.73
|
2.04 |
3.80
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
Rs. In Millions 31.03.2010 |
Rs. In Millions 31.03.2009 |
Rs. In Millions 31.03.2008 |
|
Sundry Creditors for Goods |
61.479 |
89.717 |
17.293 |
|
Sundry Creditors for Expenses |
0.619 |
1.389 |
0.699 |
|
Sundry Creditors for Capital Goods |
1.301 |
0.476 |
0.223 |
|
Total |
63.399 |
91.582 |
18.215 |
FINANCIAL PERFORMANCE:
The company posted another year of impressive results testifying to the robustness of the corporate
strategy of creating multiple drivers of growth. The company recorded a Net Profit
Rs 6.771 millions during the year as against a Net Profit of Rs. 6.140 millions during
the previous financial year. In the years to come the company is looking
forward to give to its valuable shareholders continued growth and profits.
FORM 8:
|
Corporate
identity number of the company |
U51900MH1999PTC118781 |
|
Name of the
company |
TRISTAR TRADELINKS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A – 204, Neeti Gaurav Complex, |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of Hingna, Industrial Estate Branch, X – 43, MIDC Area, |
|
Nature of
instrument creating charge |
Release Letter
From State Bank of |
|
Date of
instrument Creating the charge |
02.09.2008 |
|
Amount secured by
the charge |
Rs.100.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: DCC: 2% above
SBAR with a minimum of 14.75% p.a. with monthly rests. Terms of
Repayment: On Demand Margin: Finished Goods
25% Receivable 40% Extent and
Operation of the charge: The charge
operative as security on the properties of the company. |
|
Particulars of
the property charged |
Equitable
Mortgage of Immovable Properties of there company as per annexure -1 |
|
Particulars of
the present modification |
The Bank release
shop No. LG – 10, Situated at Pushpakunj Complex, |
FIXED ASSETS:
- Building
- Electrical Installations
- Electrical Equipment
- Computers Systems
- Furniture and Fixture
- Tata Sumo
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.44.98 |
|
|
1 |
Rs.72.68 |
|
Euro |
1 |
Rs.64.16 |
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 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.