|
Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
BLEND COLOURS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 35, IDA Kattedan, R. R. District, Hyderabad-500 077, Andhra
Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.10.2003 |
|
|
|
|
Com. Reg. No.: |
01-041900 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209AP2003PTC041900 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDB01771A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB2492A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Plastic Master Batch. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 230000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an 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 dealing 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 35, IDA Kattedan, R. R. District, Hyderabad-500 077, |
|
Tel. No.: |
91-40-24361499 / 30913085 / 24360887 |
|
Mobile No.: |
91-988501183 (Mr. Shailesh Lahoti) |
|
Fax No.: |
91-40-24360894 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sudhir Kumar Rathi |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
15-7-297, Begum Bazar, Hyderabad-500 012, |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.11.1975 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.08.2005 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01821712 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shailesh Lahoti |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
8-3-167, Kalyan Nagar, Hyderabad-500 038, |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.03.1979 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.10.2003 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01822627 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sharad Kumar Rathi |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
15-7-297, Begum Bazar, Hyderabad-500 012, |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.07.1969 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.10.2003 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01848277 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship
|
|||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Aarti Rathi |
|
2000 |
|
Anuradha Rathi |
|
2000 |
|
Archana Rathi |
|
2000 |
|
Ayodhya Devi Rathi |
|
22000 |
|
Madhu Rathi |
|
2000 |
|
Manju Devi Lahoti |
|
10000 |
|
Rajni Rathi |
|
2000 |
|
Vandana Lahoti |
|
60000 |
|
Sarla B Rathi |
|
2000 |
|
Savita Rathi |
|
2000 |
|
Sheetal Lahoti |
|
3000 |
|
Sonali Rathi |
|
2000 |
|
Sushila Devi Rathi |
|
12000 |
|
Usha Rathi |
|
12000 |
|
Balkishan Rathi |
|
5000 |
|
Gopallal Rathi |
|
5000 |
|
Gopallal Rathi Huf |
|
50000 |
|
Govindlal Rathi |
|
1000 |
|
Manish Rathi |
|
116900 |
|
Naresh Rathi |
|
1000 |
|
Rahul Stocks |
|
10000 |
|
Rajesh Rathi |
|
7000 |
|
Rohiti Rathi |
|
2000 |
|
Sarvesh Lahoti |
|
2000 |
|
Saurabh Lahoti |
|
3000 |
|
Shailesh Lahoti |
|
45000 |
|
Shailesh Lahoti Huf |
|
4000 |
|
Sharad Kumar Rathi |
|
508100 |
|
Srijawaharlal Rathi |
|
10000 |
|
Sudhir Rathi |
|
2000 |
|
Sunil Rathi |
|
1000 |
|
Surendra Kumar Rathi |
|
2000 |
|
Surendra Stock Brockers Private Limited |
|
10000 |
|
Suresh Chandra Lahoti |
|
3000 |
|
Suresh Chandra Lahoti Huf |
|
70000 |
|
Umesh Rathi |
|
7000 |
|
Total |
|
1000000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
1.00 |
|
Directors or relatives of Directors |
99.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Plastic Master Batch |
|
|
|
|
Products : |
|
PRODUCTION STATUS
|
Particulars |
Unit |
31.03.2011 |
|
Production |
Kgs |
7007192.443 |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Axis Bank Limited, 6-3-879/B, 1st Floor, G |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S A Thakkar Associates Chartered Accountant |
|
Address : |
Flat No. 401, 1-10-1/12, Manbhum Prestige, Ashok Nagar,
Hyderabad-500020, |
|
PAN.: |
AATPT4533A |
CAPITAL STRUCTURE
As on 31.03.2011
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 |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
49.631 |
36.308 |
23.223 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
59.631 |
46.308 |
33.223 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
123.061 |
121.039 |
119.578 |
|
|
2] Unsecured Loans |
41.316 |
36.510 |
17.548 |
|
|
TOTAL BORROWING |
164.377 |
157.549 |
137.126 |
|
|
DEFERRED TAX LIABILITIES |
1.873 |
1.941 |
1.966 |
|
|
|
|
|
|
|
|
TOTAL |
225.881 |
205.798 |
172.315 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
58.891 |
56.814 |
60.552 |
|
|
Capital work-in-progress |
0.000 |
2.625 |
1.507 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
63.698
|
54.812 |
44.357 |
|
|
Sundry Debtors |
160.646
|
126.637 |
81.684 |
|
|
Cash & Bank Balances |
5.215
|
6.654 |
3.562 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
12.985
|
12.412 |
11.406 |
|
Total
Current Assets |
242.544
|
200.515 |
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
67.437
|
50.369
|
28.656 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
8.117
|
3.787
|
2.097 |
|
Total
Current Liabilities |
75.554
|
54.156 |
30.753 |
|
|
Net Current Assets |
166.990
|
146.359 |
110.256 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
225.881 |
205.798 |
172.315 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
536.962 |
463.776 |
311.680 |
|
|
|
Other Income |
0.767 |
0.205 |
4.576 |
|
|
|
TOTAL (A) |
537.729 |
463.981 |
316.256 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
428.367 |
380.450 |
258.116 |
|
|
|
Payment to and For Employees |
14.347 |
9.394 |
10.476 |
|
|
|
Manufacturing Expense |
21.015 |
14.522 |
10.220 |
|
|
|
Administrative and Selling Expense |
30.646 |
20.828 |
14.525 |
|
|
|
Increase/(Decrease) in Finished Goods |
(6.491) |
[5.996] |
(2.996) |
|
|
|
TOTAL (B) |
487.884 |
419.198 |
290.341 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
49.845 |
44.783 |
25.915 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
21.370 |
19.551 |
15.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.475 |
25.232 |
10.322 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.970 |
8.333 |
5.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.505 |
16.899 |
4.720 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.183 |
3.814 |
1.207 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.322 |
13.085 |
3.513 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
36.308 |
23.223 |
19.710 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
49.630 |
36.308 |
23.223 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.32 |
13.09 |
82.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.48
|
2.82
|
1.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.82
|
3.64
|
1.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.50
|
6.50
|
2.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.36
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.02
|
4.57
|
5.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.21
|
3.70
|
4.58 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
FINANCIAL RESULTS
The Company has achieved a remarkable turnover of Rs.536.963 Millions as compared with previous years turnover of Rs.463.776 Millions. Profit after Tax for the period stood at Rs.13.322 Millions compared with previous years figure of Rs.13.085 Millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U25209AP2003PTC041900 |
|
Name of the
company |
BLEND COLOURS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
# 35, IDA, Kattedan, Hyderabad-500077, |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
90259232 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Axis Bank Limited, 6-3-879/B, 1st Floor, G |
|
Nature of instrument
creating charge |
Memorandum of
Entry |
|
Date of
instrument Creating the charge |
31.12.2010 |
|
Amount secured by
the charge |
Rs.160.500
millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All piece of Land
and building admg. 5760 Sq mtrs situated at Plot No.26 in Sy
No.460/2,461,462/2 and479 to 482, APIIC-IALA, IDA, Mankhal, Mankhal Village,
Maheswaram Mandal, Ranga Reddy Dist in name of Company |
|
Date of
instrument modifying the charge |
29.12.2010 |
|
Particulars of
the present modification |
No change in
limits, Memorandum of entry executed on 31.12.2010 |
Fixed Assets:
·
Land
·
Machinery
·
Machinery Panel
·
Building – Godown
·
Building
·
Computer
·
Weighing Machines
·
Fax Machine
·
Fire Extinguisher
·
Furniture and Fitting
·
Vehicles
·
Air Conditioner
·
Lab Equipments
·
Trollies
·
Generator
·
Car
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.51.63 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.67.65 |
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 |
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.