MIRA
INFORM REPORT
|
Report Date : |
24.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
BHAGYALAXMI PRINTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
271, GIDC, Pandesara, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
01.11.1999 |
|
|
|
|
Com. Reg. No.: |
04-036831 |
|
|
|
|
Paid-up Capital
: |
Rs. 3.114 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17114GJ1999PTC036831 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTB00001B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB4438M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Greycloth and Processing of Fabrics on Job Work |
|
|
|
|
No. of Employees
: |
20 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 64000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Pramod Kumar Agarwal |
|
Designation : |
Director |
|
Contact No.: |
91-261-2891336 |
|
Date : |
21.05.2011 |
LOCATIONS
|
Registered Office : |
271, GIDC, Pandesara, |
|
Tel. No.: |
91-261-2891336 |
|
Fax No.: |
91-261-2891337 |
|
E-Mail : |
|
|
Area : |
3000 sq.ft |
|
Location : |
Owned |
DIRECTORS
As On 30.09.2010
|
Name : |
Mr. Pramod Kumar Manphool Singh Agrawal |
|
Designation : |
Director |
|
Date of Birth/Age : |
46 Years |
|
Date of Appointment : |
01.11.1999 |
|
DIN No.: |
00392873 |
|
|
|
|
Name : |
Mr. Anil Kumar Manfulsingh Agarwal |
|
Designation : |
Director |
|
Address : |
15.02.1963 |
|
Date of Birth/Age : |
Z/3188, |
|
Date of Appointment : |
01.11.1999 |
|
DIN No.: |
00909030 |
|
|
|
|
Name : |
Ms. Usha Ashokkumar Jain |
|
Designation : |
Director |
|
Address : |
52, Adarsh Society, Athwalines, |
|
Date of Birth/Age : |
13.03.1974 |
|
Date of Appointment : |
26.06.2007 |
|
DIN No.: |
01545905 |
|
|
|
|
Name : |
Mr. Abhishek Anandkumar Jain |
|
Designation : |
Director |
|
Address : |
Bung No.4, Pratishtha Awas, Serela Wadi, Near |
|
Date of Birth/Age : |
30.10.1985 |
|
Date of Appointment : |
12.01.2010 |
|
DIN No.: |
01545930 |
|
|
|
|
Name : |
Mr. Manishkumar Mahendra Jain |
|
Designation : |
Director |
|
Address : |
Vrundavan Apartment, Near Maharaj Cinema, Salabatpura, |
|
Date of Birth/Age : |
10.08.1979 |
|
Date of Appointment : |
01.11.1999 |
|
Date of Cessation : |
12.01.2010 |
|
DIN No.: |
00304660 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Anilkumar Jain |
|
20600 |
|
Manishkumar Jain |
|
25100 |
|
Anilkumar Agarwal |
|
20100 |
|
Vinodkumar Agarwal |
|
20100 |
|
Manojkumar Agarwal |
|
20000 |
|
Pramodkumar Agarwal |
|
20000 |
|
Archana Agarwal |
|
10000 |
|
Promil Agarwal |
|
10000 |
|
Reena Agarwal |
|
10000 |
|
Shantidevi Manphool |
|
20000 |
|
Sunita Agarwal |
|
14000 |
|
Anilkumar Agarwal |
|
1500 |
|
Priyanka Jain |
|
20000 |
|
Nidhhi Jain |
|
20000 |
|
Abhishek A. Jain |
|
20000 |
|
Rahul Jain |
|
25000 |
|
Deshraj Jain |
|
25000 |
|
Parmatma Tours and Travels Private Limited – |
|
4000 |
|
Terry Towel Industries Limited – |
|
4000 |
|
Seatrans Dan Shipping Private Limited – |
|
4000 |
|
Arjit Securities Private Limited – |
|
4000 |
As On 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
8.79 |
|
Directors or relatives of Directors |
91.21 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Greycloth and Processing of Fabrics on Job Work |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash, Credit: 30/60/90 Days |
||||
|
|
|
||||
|
Purchasing : |
Cash, Credit: 30/60/90 Days |
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
|
|
Unit |
Actual
Production |
|
Process Cloth |
|
|
Mtrs |
19875050.250 |
GENERAL INFORMATION
|
Customers : |
|
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
20 (approximately) |
|||||||||
|
|
|
|||||||||
|
Bankers : |
|
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
RKG and Company Chartered Accountant |
|
Address : |
409, Ajanta Shopping and Textile Arcade, |
|
Tel. No.: |
91-261-2326901/902 |
|
Pan No.: |
AACFG3265F |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10//- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
311400 |
Equity Shares |
Rs. 10//- each |
Rs. 3.114
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.114 |
3.114 |
3.114 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13.053 |
10.003 |
7.088 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.167 |
13.117 |
10.202 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
8.209 |
8.262 |
8.197 |
|
|
TOTAL BORROWING |
8.209 |
8.262 |
8.197 |
|
|
DEFERRED TAX LIABILITIES |
0.930 |
1.075 |
1.210 |
|
|
|
|
|
|
|
|
TOTAL |
25.306 |
22.454 |
19.609 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.455 |
15.495 |
16.692 |
|
|
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 |
10.212
|
4.506 |
3.549 |
|
|
Sundry Debtors |
39.913
|
46.261 |
21.974 |
|
|
Cash & Bank Balances |
0.918
|
0.490 |
0.913 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
22.470
|
13.248 |
9.660 |
|
Total
Current Assets |
73.513
|
64.505 |
36.096 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
61.761 |
55.364 |
31.894 |
|
|
Other Current Liabilities |
0.382
|
0.742 |
0.242 |
|
|
Provisions |
1.519
|
1.446 |
1.055 |
|
Total
Current Liabilities |
63.662
|
57.552 |
33.191 |
|
|
Net Current Assets |
9.851
|
6.953 |
2.905 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.006 |
0.012 |
|
|
|
|
|
|
|
|
TOTAL |
25.306 |
22.454 |
19.609 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Processing Charges |
233.299 |
207.512 |
147.682 |
|
|
|
Other Income |
0.225 |
0.086 |
0.124 |
|
|
|
TOTAL (A) |
233.524 |
207.598 |
147.806 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw materials consumed |
73.465 |
62.631 |
|
|
|
|
Manufacturing and other expenses |
93.934 |
85.549 |
|
|
|
|
Payment to employees |
59.705 |
52.743 |
|
|
|
|
Preliminary expenses w/ff |
0.006 |
0.006 |
|
|
|
|
Increase/(Decrease) in Inventory |
(0.245) |
(0.020) |
|
|
|
|
TOTAL (B) |
226.865 |
200.909 |
142.561
(Including Financial Expenses) |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.659 |
6.689 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.659 |
6.689 |
5.245 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.218 |
2.449 |
2.357 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.441 |
4.240 |
2.888 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1.390 |
1.325 |
0.963 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
3.051 |
2.915 |
1.925 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.003 |
7.088 |
5.163 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
13.054 |
10.003 |
7.088 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.80 |
9.36 |
NA |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
250.000 |
|
|
|
|
|
Expected Sales (2011-12) : Rs. 300.000 Millions
The above information has been parted by Mr. Pramod Kumar Agarwal
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.31
|
1.40 |
1.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.90
|
2.04 |
1.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.99
|
5.30 |
5.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.32 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.45
|
5.02 |
4.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.12 |
1.09 |
LOCAL AGENCY FURTHER INFORMATION
The details of
sundry creditors
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
61.761 |
55.364 |
31.894 |
PERFORMANCE:
During the year
company has achieved growth in turnover by about 12% as compared to previous
year. The processing income for the year improved to Rs.233.299 Millions from Rs.
207.512 Millions in the previous year. The net profit after tax for the year
stands at Rs.3.051 Millions compared to 2.915 Millions in previous year. The
company has achieved all round growth in production, through increased capacity
utilisation and vigorous marketing efforts and effective cost control measures.
The Company has also put hard efforts to improve the operational efficiency at
the plant level, commitment towards the quality production, effective cost
control measures to minimise the cost of production and reduction in wastage.
PROSPECTS AND OPPORTUNITIES:
Industry is
fragmented with excess supply capacity and suffers with low economies of scale
compared to some of the neighboring countries. In view of threats,
opportunities and company’s response through relentless commitment to
productivity, efficiency, and control over the cost will result in better
performance of the company.
Fixed Assets:
- Land
- Building
- Plant and
machinery
- Scooter
- Computer
- Computer
accessories
- Office
equipment
- Tempo
- Motor car
- Cycle
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.45.28 |
|
|
1 |
Rs.73.30 |
|
Euro |
1 |
Rs.63.61 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.