BUSINESS
INFORMATION REPORT
1. Summary Information
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Country |
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Company Name |
TEXPERTS INDIA PRIVATE LIMITED |
Principal Name 1 |
MR. ASIT PARIKH |
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Status |
SATISFACTORY |
Principal Name 2 |
MR. YATISH KUMAR PANDEY |
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Registration # |
11-147123 |
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Street Address |
3, COMMERCE CENTRE, GUJARAT INDUSTRIES COMPOUND, |
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Established Date |
24.06.2004 |
SIC Code |
-- |
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Telephone# |
91-22-28727205/ 28728695/ 40777333 |
Business Style 1 |
TRADERS |
|
Fax # |
91-22-28728305/
40777300 |
Business Style 2 |
EXPORTERS |
|
Homepage |
Product Name 1 |
TEXTILES |
|
|
# of employees |
- |
Product Name 2 |
TEXTILE AUXILIARIES |
|
Paid up capital |
Rs.3,352,000 /- |
Product Name 3 |
- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS – 100% |
Banking |
ICICI BANK LIMITED |
|
Public Limited Corp. |
NO |
Business Period |
7 YEARS |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(45) |
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Related
Company |
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Relation
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Country
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Company
Name |
CEO |
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- |
- |
- |
- |
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Note |
- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
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|
Current Assets |
50,408,000
|
Current Liabilities |
26,609,000
|
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Inventories |
15,718,000
|
Long-term Liabilities |
22,010,000 |
|
Fixed Assets |
11,228,000 |
Other Liabilities |
197,000 |
|
Deferred Assets |
000 |
Total Liabilities |
48,816,000 |
|
Invest& other Assets |
44,000 |
Retained Earnings |
1,413,000 |
|
|
|
Net Worth |
28,582,000 |
|
Total Assets |
77,398,000 |
Total Liab. & Equity |
77,398,000 |
|
Total Assets (Previous Year) |
57,930,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales/ Turnover |
164,954,000 |
Net Profit |
5,515,000 |
|
Sales/ Turnover (Previous yr) |
111,643,000 |
Net Profit(Prev.yr) |
3,516,000 |
MIRA
INFORM REPORT
|
Report Date : |
18.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
TEXPERTS INDIA PRIVATE LIMITED |
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Registered Office : |
3, Commerce Centre, Gujarat Industries Compound, Vishweshwar Nagar Road,
off Aarey Road, Goregaon (East), Mumbai – 400 063, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
24.06.2004 |
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Com. Reg. No.: |
11-147123 |
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Capital Investment
/ Paid-up Capital : |
Rs. 3.352
Millions |
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|
|
|
CIN No.: [Company
Identification No.] |
U51311MH2004PTC147123 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT10975G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Traders, Exporters and Importers of All kinds of Textiles and Textile
Auxiliaries. |
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No. of Employees
: |
|
RATING & COMMENTS
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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 110000 |
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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. 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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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
|
Registered Office : |
3, Commerce Centre, Gujarat Industries Compound, |
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Tel. No.: |
91-22-28727205/ 28728695/ 40777333 |
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Fax No.: |
91-22-28728305/ 40777300 |
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E-Mail : |
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Website : |
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Communication Address : |
504, 505m 506, 5th Floor, Eco House, Vishweshwar Colony, off
Aarey Road, Goregaon (East), Mumbai-400063, Maharashtra, India |
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Tel. No.: |
91-22-40777377 |
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Fax No.: |
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E-Mail : |
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Area : |
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Location : |
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DIRECTORS
As on 30.09.2010
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Name : |
Mr. Manish Khoobchand Mehta |
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Designation : |
Director |
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Address : |
404, Bhagirathi Jangid Complex, |
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Date of Birth/Age : |
26.06.1963 |
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Date of Appointment : |
18.09.2009 |
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DIN No.: |
02523724 |
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Other Directorship:
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Name : |
Mr. Sharad Ramakant Sanghavi |
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Designation : |
Director |
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Address : |
A-1, Shantivan Society, |
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Date of Birth/Age : |
15.04.1977 |
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Date of Appointment : |
24.06.2004 |
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DIN No.: |
00414579 |
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Name : |
Mr. Yatish Kumar Gianchand Pandey |
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Designation : |
Chairman Cum Managing Director |
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Address : |
D/1101, |
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Date of Birth/Age : |
15.06.1965 |
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Date of Appointment : |
24.06.2004 |
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DIN No.: |
00416661 |
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Other Directorship:
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Name : |
Mr. Asit Bakulesh Parikh |
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Designation : |
Director |
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Address : |
E-801, Rosewood Estate, Someshwar Part-II, |
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Date of Birth/Age : |
22.07.1967 |
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Date of Appointment : |
02.05.2007 |
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DIN No.: |
01483957 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Yatish Kumar Pandey |
|
107750 |
|
Sharad Ramakant Sanghavi |
|
103000 |
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Rashmi Yatish Pandey |
|
1500 |
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Amrita Sharad Sanghavi |
|
1500 |
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Asit B. Parekh |
|
37300 |
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Manish Mehta |
|
35320 |
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Total |
|
286370 |
As on 24.12.2010
|
List of Allottees |
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No. of Shares Allotted |
|
Manish Mehta |
|
23345 |
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Total |
|
23345 |
As on 25.03.2011
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List of Allottees |
|
No. of Bonus
Shares Allotted |
|
Yatish Kumar Pandey |
|
173745 |
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Sharad Ramakant Sanghavi |
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162012 |
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Rashmi Yatish Pandey |
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2250 |
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Amrita Sharad Sanghai |
|
2250 |
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Asit Parikh |
|
158395 |
|
Manish Mehta |
|
87997 |
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Total |
|
586649 |
Equity Share Breakup (Percentage of Total
Equity)
As on 30.09.2010
|
Category |
|
Percentage of Holding |
|
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Traders, Exporters and Importers of All kinds of Textiles and Textile
Auxiliaries. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S P Gupta and Associates Chartered Accountants |
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Address : |
8/ 10, Govind Nagar, 88, |
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Tel. No.: |
91-26116374/ 26120042 |
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PAN No.: |
AACPG9111A |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital : Rs. 100.000 Millions
Paid-up Capital : Rs. 9.777 Millions
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
367755 |
Equity Shares |
Rs.10/- each |
Rs. 3.678
Millions |
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|
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Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
286370 |
Equity Shares |
Rs.10/- each |
Rs. 2.864
Millions |
|
81385 |
Equity Shares (Equity Shares of 10 each Rs. 6/- paid up) |
Rs. 10/- each |
Rs. 0.488
Million |
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Total |
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Rs. 3.352 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 |
3.352 |
2.673 |
2.511 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Share Premium account |
1.413 |
0.000 |
0.000 |
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4] Reserves & Surplus |
23.817 |
18.272 |
14.756 |
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5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
28.582 |
20.945 |
17.267 |
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LOAN FUNDS |
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1] Secured Loans |
19.812 |
13.954 |
6.969 |
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2] Unsecured Loans |
2.198 |
4.022 |
3.347 |
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TOTAL BORROWING |
22.010 |
17.976 |
10.316 |
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DEFERRED TAX LIABILITIES |
0.197 |
0.038 |
0.164 |
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TOTAL |
50.789 |
38.959 |
27.747 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11.228 |
9.829 |
8.897 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.007 |
0.007 |
0.007 |
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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 |
15.718
|
14.536 |
7.235
|
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Sundry Debtors |
36.623
|
26.608 |
19.152
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Cash & Bank Balances |
3.614
|
1.508 |
2.624
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Other Current Assets |
0.000
|
0.000 |
0.000
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Loans & Advances |
10.171
|
5.369 |
2.686
|
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Total
Current Assets |
66.126
|
48.021 |
31.697 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
22.323
|
18.452 |
12.116 |
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Other Current Liabilities |
4.286
|
0.519 |
0.848 |
|
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
26.609
|
18.971 |
12.964 |
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Net Current Assets |
39.517
|
29.050 |
18.733 |
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MISCELLANEOUS EXPENSES |
0.037 |
0.073 |
0.110 |
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TOTAL |
50.789 |
38.959 |
27.747 |
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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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Turnover |
164.954 |
111.643 |
98.815 |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
15.686 |
106.976 |
81.017 |
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Depreciation |
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Financial Charges |
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TOTAL |
15.686 |
106.976 |
81.017 |
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PROFIT BEFORE
TAX |
8.174 |
5.515 |
17.798 |
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Less |
TAX |
2.659 |
1.999 |
6.591 |
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PROFIT AFTER TAX
|
5.515 |
3.516 |
11.207 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
24.375 |
24.599 |
39.164 |
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Commission Earnings |
38.742 |
28.042 |
28.042 |
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|
Merchanting Trade Sale |
1.103 |
0.000 |
0.000 |
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TOTAL EARNINGS |
64.220 |
52.641 |
67.206 |
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IMPORTS |
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Import Goods |
20.214 |
2.168 |
0.092 |
|
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TOTAL IMPORTS |
20.214 |
2.168 |
0.092 |
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Earnings Per
Share (Rs.) |
15.00 |
10.58 |
44.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.57
|
9.53 |
43.84
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.26 |
1.03
|
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Debt Equity Ratio (Total Liability/Networth) |
|
1.70
|
1.76 |
1.35
|
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Current Ratio (Current Asset/Current Liability) |
|
2.49
|
2.53 |
2.45
|
LOCAL AGENCY FURTHER INFORMATION
Financial Results:
The company has made profit of Rs. 5.515 Millions for the year which is
carried forward
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51311MH2004PTC147123 |
|
Name of the
company |
TEXPERTS INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
3, Commerce Centre, Gujarat Industries Compound, |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10180808 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Oriental Bank of Commerce, Neel Kamal Building, Opposite Sales India
Ashram Road, Ahmedabad-380009, Gujarat, India |
|
Nature of
instrument creating charge |
Supplemental
Agreement to secure credit/ Loan Facilities |
|
Date of instrument
Creating the charge |
29.08.2011 |
|
Amount secured by
the charge |
Rs. 45.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate + 4.50%
i.e. 14% at Present. Terms of Repayment
Repayment on
Demand Margin Stock/ Book
Debts: 25% Extent and
Operation of the charge Bank Shall have
exclusive charge over entire movable assets of the company to secure cash credit
Rs. 30.000 Millions, with a sub limit of PCL/FDBP/FUDBP Rs. 12.500 Millions +
LC Rs. 15.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Stock of Raw
material, stock in process, finished goods of textiles lying at 16/17, Top
class enclave Bhida Pada, Satvali Road, Gokhivare Village Vasai (East)
District Thane in Transit and at any other place in India. It is also secured
by entire book debts/ receivables of the company. |
|
Date of
instrument modifying the charge |
|
|
Particulars of
the present modification |
Now the above
agreement secured enhanced limit from Rs. 32.000 Millions to Rs. 45.000
Millions as follows: Cash Credit Rs. 30.000
Millions, with a sub limit of PCL/FDBP/FUDBP Rs. 12.500 Millions + LC Rs.
15.000 Millions = Rs. 45.000 Millions |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U51311MH2004PTC147123 |
|
Name of the
company |
TEXPERTS INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
3, Commerce Centre, Gujarat Industries Compound, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
CIN No.: L65110GJ1993PLC020769 Axis Bank Limited, Trishul, 3rd Floor, E-Mail: santoshkumar.bajpai@axisbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry for creating Equitable Mortgage by Deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
04.02.2008 |
|
Amount secured by
the charge |
Rs.4.540 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
BPLR – 1.75% i.e. 13.25% p.a. payable monthly. Terms of
Repayment: Rs.0.068 million to be repaid on 5th or 20th
of every month. Delay in repayment would attract penal interest of 2%. Margin: 30% Extent and Operation
of the charge: Term Loan (under Business Loan for Property Scheme) of
Rs.4.540 millions to purchase commercial property situated at Safal Pegasus,
Tower – B, Office No.1001, 10th Floor, Praladnagar Road, Near Auda
Garden, Anand Nagar, Ahmedabad against the security of Equitable Mortgage of
the said property. |
|
Short particulars
of the property charged |
Safal Pegasus,
Tower – B, Office No.1001, 10th Floor, Praladnagar Road, Near Auda
Garden, Anand Nagar, Ahmedabad. |
FIXED ASSETS:
- Office
Premises
- Computers and
Software
- Furniture and
Fixtures
- Vehicles
- Trademark
- Plant and
Machinery
Website Details:
About Them:
About Their Business
Their business is to promote businesses of their customers and suppliers. They have a closely knit global network of manufacturers and buyers of all the items in the textile chain. They believe that no two business situations are same hence there can not be a common solution for all business needs. Therefore, they offer customers specific sourcing and marketing services.
About the products:
Their focus and core competence is in specialty fibers, specialty yarns and specialty fabrics. By virtue of their experience in marketing of Specialty yarns worldwide they have adequate competence and patience to go through the process of developments to ensure continuous business of value added specialty fibers, yarns and fabrics in addition to the commonly used textile products.
Their Services:
- On going market search for new suppliers
- Evaluation and short listing of most reliable suppliers for each product group
- Understanding the customers’ needs and identification of suitable suppliers
- Establishing the connection between suppliers and customers
- Monitoring Market trends and providing market intelligence and forecas
- Managing the complete supply chain for optimum Price, Quality and Logistics
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.48.89 |
|
|
1 |
Rs.77.31 |
|
Euro |
1 |
Rs.67.79 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.