1. Summary Information
|
|
|
Country |
|
|
Company Name |
MAHALAXMI PLYWOOD |
Principal Name 1 |
MRS. HEMMALABEN KIRANBHAI SHAH |
|
Status |
Satisfactory |
Principal Name 2 |
-- |
|
|
|
Registration # |
-- |
|
Street Address |
28/A/1, S.P. MUNI TIMBER MARKET, ZONE LATI BAZAR NO.3, B/H GEETA
MANDIR, AHMEDABAD – 380 022, |
||
|
Established Date |
18.04.1991 |
SIC Code |
-- |
|
Telephone# |
91-79-25399574 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
91-79-29297231 |
Business Style 2 |
IMPORTER |
|
Homepage |
NOT AVAILABLE |
Product Name 1 |
ACRYLIC SOLID SURFACE |
|
# of employees |
8 (APPROXIMATELY) (IN OFFICE – 6, IN BRANCH - 2) |
Product Name 2 |
FURNITURE COMPONENTS |
|
Capital Investment |
RS.4,050,000/- |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
BANK OF |
|
Public Limited Corp. |
NO |
Business Period |
21 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
5,068,000 |
Current Liabilities |
238,000 |
|
Inventories |
7,273,000 |
Long-term Liabilities |
8,681,000 |
|
Fixed Assets |
84,000 |
Other Liabilities |
35,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
8,954,000 |
|
Invest& other Assets |
579,000 |
Retained Earnings |
0,000 |
|
|
|
Net Worth |
4,050,000 |
|
Total Assets |
13,004,000 |
Total Liab. & Equity |
13,004,000 |
|
Total Assets (Previous Year) |
17,035,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
30,895,000 |
Net Profit |
465,000 |
|
Sales(Previous yr) |
15,658,000 |
Net Profit(Prev.yr) |
325,000 |
|
Report Date : |
07.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAHALAXMI PLYWOOD |
|
|
|
|
Registered
Office : |
28/A/1, S.P. Muni Timber Market, Zone Lati Bazar No.3, B/H Geeta Mandir,
Ahmedabad – 380 022, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.04.1991 |
|
|
|
|
Com. Reg. No.: |
SSI Reg. No.24/007/11/02059 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.4.050 millions |
|
|
|
|
IEC NO: |
0807003395 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AOAPS9013F |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Importer of Acrylic Solid Surface, Furniture Components. |
|
|
|
|
No. of Employees
: |
8 (Approximately) (In Office – 6, In Branch - 2) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 16000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established proprietory concern having satisfactory track records. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The concern 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Kiran Shah |
|
Designation : |
Manager |
|
Contact No.: |
91-9825033967 |
LOCATIONS
|
Registered Office : |
28/A/1, S.P. Muni Timber Market, Zone Lati Bazar No.3, B/H Geeta
Mandir, Ahmedabad – 380 022, |
|
Tel. No.: |
91-79-25399574 |
|
Mobile No.: |
91-9825033967 (Kiran Shah) |
|
Fax No.: |
91-79-29297231 |
|
E-Mail : |
|
|
Area : |
2700 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Unit No.29/K, Laxmi Industrial Estate, New |
|
Area : |
900 sq. ft. |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mrs. Hemmalaben Kiranbhai Shah |
|
Designation : |
Proprietor |
|
Address : |
Rajvansh Block – 403, |
|
Date of Birth/Age : |
47 Years |
|
Qualification : |
M.A |
|
Experience : |
20 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Importer of Acrylic Solid Surface, Furniture Components. |
|
|
|
|
Product : |
v Acrylic Solid Surface v Furniture Components |
|
|
|
|
Agencies Held : |
v
Cheil Industries Inc ( v
Climus Maxus Limitex ( v
Bansal Sales Corporation ( |
|
|
|
|
Imports : |
|
|
Countries : |
v
v
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Credit (30 days) |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Suppliers : |
v
Bansal Sales Corporation v
Mayur Ply Indsutries Private Limited v
Medha Mungee (P) v
Samek Impex (P) |
|
|
|
|
Customers : |
Wholesalers, Retailers and End Users v Banson Equipments and Machines Private Limited v
v Gautam Adani – Adani Group v
Laxmanbhai Construction ( v Bansal Sales Corporation v Bhagwati Interior v Deco Art v Hitesh and Company v P.G. Foils Limited |
|
|
|
|
No. of Employees : |
8 (Approximately) (In Office – 6, In Branch - 2) |
|
|
|
|
Bankers : |
v
Bank of v
The Ahmedabad Mercantile Co-operative Bank
Limited |
|
|
|
|
Facilities : |
Cash Credit - Rs.18.000 Millions (From Bank of |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Devang Shah and Associates Chartered Accountants |
|
Address : |
4th Floor, Hare Krishna Shopping Centre, Pritamnagar,
Paldi, Ahmedabad, |
|
Tel. No.: |
91-79-26575781 |
CAPITAL STRUCTURE
As on 31.03.2011
|
Capital Investment : |
|
|
Owned : |
Rs.4.050 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.4.050 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
|
4.050 |
3.477 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
4.050 |
3.477 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
4.903 |
7.843 |
|
|
2] Unsecured Loans |
|
3.778 |
3.451 |
|
|
TOTAL BORROWING |
|
8.681 |
11.294 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
12.731 |
14.771 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.084 |
0.109 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.579 |
0.469 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
7.273 |
9.986 |
|
|
Sundry Debtors |
|
3.900 |
5.749 |
|
|
Cash & Bank Balances |
|
0.062 |
0.083 |
|
|
Other Current Assets |
|
0.589 |
0.000 |
|
|
Loans & Advances |
|
0.517 |
0.639 |
|
Total
Current Assets |
|
12.341 |
16.457 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.224 |
2.139 |
|
|
Other Current Liabilities |
|
0.014 |
0.110 |
|
|
Provisions |
|
0.035 |
0.015 |
|
Total
Current Liabilities |
|
0.273 |
2.264 |
|
|
Net Current Assets |
|
12.068 |
14.193 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
12.731 |
14.771 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
30.895 |
15.658 |
|
|
|
Other Income |
|
0.264 |
0.756 |
|
|
|
TOTAL |
|
31.159 |
16.414 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
25.281 |
13.288 |
|
|
|
C & F Expenses |
|
0.093 |
0.077 |
|
|
|
Custom Duty L.G. |
|
1.411 |
0.600 |
|
|
|
Fabrication Charges Paid |
|
1.933 |
0.584 |
|
|
|
Salary Expenses |
|
0.506 |
0.240 |
|
|
|
Telephone Expenses |
|
0.082 |
0.076 |
|
|
|
Traveling Expenses |
|
0.066 |
0.006 |
|
|
|
Vehicle Expenses |
|
0.029 |
0.077 |
|
|
|
Other Expenses |
|
1.280 |
1.123 |
|
|
|
TOTAL |
|
30.681 |
16.071 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.478 |
0.343 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.013 |
0.018 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.465 |
0.325 |
|
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
1.49 |
1.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
1.51 |
2.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.74 |
1.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.11 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.21 |
3.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
45.21 |
7.27 |
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 |
Yes |
|
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 |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last two 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 |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
No |
|
31)
PAN of Proprietor/Partner/Director, if available |
No |
|
32)
Passport No of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34) External Agency Rating, if available |
No |
TRADE REFERENCES:
v Banson Equipments and Machines Private Limited
v
v Gautam Adani – Adani Group
v
Laxmanbhai Construction (
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.55.47 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.