MIRA
INFORM REPORT
|
Report Date : |
10.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
WHITE ‘N’ WHITE MINERALS PRIVATE LIMITED |
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Registered
Office : |
Jodhpur Tower, Paota, Jodhpur-342006, Rajasthan |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
14.12.1995 |
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Com. Reg. No.: |
17-011231 |
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Capital
Investment/ Paid-up Capital: |
Rs.8.500 millions |
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CIN No.: [Company Identification
No.] |
U14101RJ1995PTC011231 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JDHW00011E / JDHW00053E |
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PAN No.: [Permanent Account No.] |
AAACW1337M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Lime and Hydrated Lime. |
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No. of
Employees: |
Not available |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 60000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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 |
LOCATIONS
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Registered Office : |
Jodhpur Tower, Ground Floor, Paota Circle, Jodhpur-342001, Rajasthan,
India |
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Tel. No.: |
91-291-2551872 / 2550851 |
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Fax No.: |
91-291-2549851 |
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E-Mail : |
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Website : |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Hari Prasad Agarwal |
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Designation : |
Director |
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Address : |
43-C, Shakti Nagar, Second Road, Paota Road, Jodhpur-342006, Rajasthan,
India |
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Date of Appointment : |
15.05.1997 |
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DIN No : |
00857187 |
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Name : |
Mr. Ajay Kumar Agarwal |
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Designation : |
Director |
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Address : |
43-C, Shakti Nagar, Second Road, Paota Road, Jodhpur-342006,
Rajasthan, India |
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Date of Appointment : |
05.01.2007 |
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DIN No : |
01187036 |
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Name : |
Mr. Sanjay Kumar Agarwal |
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Designation : |
Director |
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Address : |
Shri Pitri Kripa, 43-C, Shakti Nagar, Second Road, Paota Road,
Jodhpur-342006, Rajasthan, India |
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Date of Birth/Age : |
24.07.1973 |
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Date of Appointment : |
31.03.2007 |
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DIN No : |
01422433 |
KEY EXECUTIVES
|
Name : |
Ms. Neelam Bhandari |
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Designation : |
Practicing Company Secretary |
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Address : |
Mohan Niwas, Near Mrunal Beaty Parlour, 1st B Road,
sardarpura, Jodhpur, Rajasthan, India |
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Tel No. : |
91-291-2612240 |
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Mobile No. : |
91-9829575428 |
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E-Mail Id : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Hari Prasad Agarwal and Sons |
|
75000 |
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Hari Prasad Agarwal |
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197000 |
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Deo Narayan Agarwal |
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18000 |
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Padam Chand Jain |
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18000 |
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Ram Pratap Garg |
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18000 |
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Roop Chand Sethi |
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16000 |
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Bheru Lal Sarwa |
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20000 |
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Om Prakash Sarwa |
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20000 |
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Maina Devi Agarwal |
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143000 |
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Ajay Agrawal |
|
127500 |
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Sanjay Agarwal |
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147500 |
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Suresh Kumar Agarwal |
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30000 |
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Babu Lal Bhutra |
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20000 |
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Total |
|
850000 |
Equity share Breakup
(AS ON 30.09.2011)
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
81.00 |
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Other top fifty shareholders |
|
19.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Lime and Hydrated Lime. |
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Products : |
·
Calcined Dolomite ·
Calcined Lime ·
Hydrated Lime |
GENERAL INFORMATION
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Suppliers : |
·
Ambika Agency, Jodhpur ·
Anjani Lime, Bitan ·
Ases Chemicals Works, Jodhpur ·
Balaji Traders, Pipercity ·
Biyani Enterprises, Jodhpur ·
Bohra associates, Jdp ·
Chhaya Refractories, Thangadh ·
CTC Infotech, Jodhpur ·
D. K. Lime Industries, Nagpur ·
Gehlot Minerals, Gotan ·
Guru Kripa Chemical and Minerals, Nimaj ·
Jai Keshariyaji Lime Products, Borunda ·
Kesaria Lime Industries, Pipercity ·
Meerabai Minerals and Chemicals, Borunda ·
Mittal Trading Company, Sojat ·
Vijay Minerals, Jawasiya ·
Swastik Sales Agency, Jodhpur |
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No. of Employees : |
Not Available |
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Bankers : |
·
ING Vyasya Bank Limited, 947, 10th D
Road, Sardarpura, Jodhpur-342003, Rajasthan, India ·
State Bank of Bikaner and Jaipur, Paota Branch,
Jodhpur-342006, Rajasthan, India ·
Kotak Mahindra Bank ·
Axis Bank Limited, Jodhpur ·
IDBI Bank, Jodhpur ·
HDFC Bank Limited ·
Barklays Bank PLC |
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Facilities : |
(Rs.
in millions)
(Rs.
in millions)
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Banking
Relations : |
-- |
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Financial
Institution : |
·
ICICI Finance Limited, Jodhpur |
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Auditors : |
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Name : |
Mertia Daga and Associates Chartered Accountants |
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Address : |
155, Patrakar Colony, New Power House Road Circle, Jodhpur-342001,
Rajasthan, India |
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Tel. No.: |
91-291-2435616 / 2623707 |
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Income-tax PAN of auditor or auditor’s firm : |
AAMFS7472E |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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850000 |
Equity Share |
Rs.10/- each |
Rs.8.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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850000 |
Equity Share |
Rs.10/- each |
Rs.8.500
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.500 |
8.500 |
8.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.216 |
6.015 |
5.484 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.716 |
14.515 |
13.984 |
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LOAN FUNDS |
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1] Secured Loans |
24.952 |
22.949 |
25.002 |
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2] Unsecured Loans |
9.148 |
5.958 |
5.840 |
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TOTAL BORROWING |
34.100 |
28.907 |
30.842 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.377 |
0.388 |
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TOTAL |
49.816 |
43.799 |
45.214 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
15.376 |
15.843 |
15.633 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.020 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.899
|
5.799 |
12.518 |
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Sundry Debtors |
55.285
|
35.984 |
18.662 |
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Cash & Bank Balances |
0.896
|
0.245 |
0.682 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
5.781
|
5.511 |
5.255 |
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Total
Current Assets |
64.861
|
47.539 |
37.117 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
29.313
|
18.713 |
6.463 |
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Other Current Liabilities |
1.128
|
0.870 |
1.073 |
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Total
Current Liabilities |
30.441
|
19.583 |
7.536 |
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Net Current Assets |
34.420
|
27.956 |
29.581 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
49.816 |
43.799 |
45.214 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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TURNOVER |
226.867 |
140.421 |
134.155 |
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NET PROFIT |
1.248 |
0.530 |
0.380 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.11
|
3.34 |
2.74 |
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Current Ratio (Current Asset/Current Liability) |
|
2.13
|
2.43 |
4.92 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The turnover of
the company, during the year, increased and stood at Rs.226.867 millions during
the financial year as against Rs.140.421 millions achieved last year. The
company has earned net profit of Rs.1.248 millions as against the net profit of
Rs.0.530 million for the preceding previous year. The performance of the
company has significantly improved during the year and directors are quite hope
to achieve better financial results during the current financial year.
FORM 8:
|
Corporate identity number of the company |
U14101RJ1995PTC011231 |
|
Name of the company |
WHITE ‘N’ WHITE MINERALS PRIVTAE LIMITED |
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Address of the registered office or of the
principal place of business in |
Jodhpur Tower, Paota, Jodhpur-342006,
Rajasthan, India E-mail Id: accounts@calcinedlime.com |
|
This form is for |
Modification of charge |
|
Charge identification number of the charge
to be modified |
10201349 |
|
Type of charge |
Immovable Property |
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Particular of charge holder |
ING Vyasya Bank Limited, 947, 10th
D Road, Sardarpura, Jodhpur-342003, Rajasthan, India E-mail Id: roc.charge@gmail.com |
|
Nature of instrument creating charge |
Letter of deposit of title deed dated |
|
Date of instrument Creating the charge |
03.02.2010 |
|
Amount secured by the charge |
Rs.27.500 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
a)
Rate
of Interest No Change b)
Terms
of Repayment No Change c)
Margin No Change d)
Extent
and operation of the charge CC-SIT and BD limit Rs.27.500 millions Exclusive charge on Equitable Mortgage
of property bearing No-55/20/1 situated at Village Borunda, Tehsil Bilada,
District Jodhpur, Rajasthan, India e)
Others NIL |
|
Short Particulars of the property charged |
Equitable Mortgage of property bearing
No-55/20/1 situated at Village Borunda, Tehsil Bilada, District Jodhpur,
Rajasthan, India |
|
Particulars of the present modification |
Limit is Further secured by EM on property
bearing No-55/20/1 situated at Village Borunda, Tehsil Bilada District
Jodhpur, Rajasthan, India All other terms and conditions remain the
same. |
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.49.78 |
|
|
1 |
Rs.80.10 |
|
Euro |
1 |
Rs.68.81 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
29 |
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.