1. Summary Information

 

 

Country

India

Company Name

GENESIS SUPER ABRASIVES (INDIA) PRIVATE LIMITED

Principal Name 1

Mr. Sridhar Ramalinga Singiri

Status

Moderate

Principal Name 2

Mr. Mohan Ramalinga Singiri

 

 

Registration #

18 - 001500

Street Address

142 / 7, Thondamanatham Road Pathukannu, Koodapakkam Post, Pondicherry – 605 502, India

Established Date

15.11.1999

SIC Code

--

Telephone#

91- 44 – 24956071 / 24957399 / 24936228

Business Style 1

Manufacturing

Fax #

91-44-24957399

Business Style 2

-

Homepage

www.genesis.abrasivesmarket.com

Product Name 1

Tools

# of employees

Not Available

Product Name 2

Machinery

Paid up capital

Rs 900,000/-

Product Name 3

-

Shareholders

Directors or relatives of Directors (100.00%)

Banking

Syndicate Bank

Public Limited Corp.

NO

Business Period

13 Years

IPO

NO

International Ins.

-

Public Enterprise

NO

Rating

B (26)

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

1,207,000

Current Liabilities

2,171,000

Inventories

1,892,000

Long-term Liabilities

720,000

Fixed Assets

1,424,000

Other Liabilities

102,000

Deferred Assets

00,000

Total Liabilities

2,993,000

Invest& other Assets

00,000

Retained Earnings

630,000

 

 

Net Worth

1,530,000

Total Assets

4,523,000

Total Liab. & Equity

4,523,000

 Total Assets

(Previous Year)

4,585,000

 

 

P/L Statement as of

31.03.2011

(Unit: Indian Rs.)

Sales

N.A.

Net Profit

184,000

Sales(Previous yr)

N.A.

Net Profit(Prev.yr)

198,000

MIRA INFORM REPORT

 

 

Report Date :

08.08.2012

 

IDENTIFICATION DETAILS

 

Name :

GENESIS SUPER ABRASIVES (INDIA) PRIVATE LIMITED

 

 

Registered Office :

142 / 7, Thondamanatham Road Pathukannu, Koodapakkam Post, Pondicherry – 605 502

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

15.11.1999

 

 

Com. Reg. No.:

18-001500

 

 

Capital Investment / Paid-up Capital :

Rs. 0.900 million

 

 

CIN No.:

[Company Identification No.]

U29224PY1999PTC001500

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing of Tools, Machinery and Consumable to Granite Processing Industries

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 6120000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is a relatively small 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.

 

The company can be considered for business dealings with some caution.

 

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)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ 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.

 

 

LOCATIONS

 

Registered Office :

142 / 7, Thondamanatham Road Pathukannu, Koodapakkam Post, Pondicherry – 605 502, India

Tel. No.:

91-44-24956071/24957399/24936228

Mobile No.:

91-9381043826 (Mr. S. Sridhar)

Fax No.:

91-44-24957399

E-Mail :

genesis@md3.vsnl.net

Website :

www.genesis.abrasivesmarket.com

 

 

DIRECTORS

 

As on 30.09.2011

 

Name :

Mr. S. Ravikumar

Designation :

Director

Address :

No. 42/18, Second Main Road, Ekkattuthangal, Chennai – 600 097, Tamilnadu, India

DIN No.:

00708129

Passport No.:

F1759116

 

 

Name :

Mr. Sridhar Ramalinga Singiri

Designation :

Managing Director

Address :

10, II main Road Raja, Annamalaipurm, Chennai – 600028, Tamil Nadu, India.

Date of Birth/Age :

15.07.1946

Date of Appointment :

15.11.1999

DIN No.:

01314313

 

 

Name :

Mr. Mohan Ramalinga Singiri

Designation :

Director

Address :

10 – A II Main Road, R. A. Puram, Chennai – 600028, Tamil Nadu, India

Date of Birth/Age :

18.07.1950

Date of Appointment :

15.11.1999

DIN No.:

02402654

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011

 

Names of Shareholders

 

No. of Shares

S. R. Sridhar

 

15000

S. Prashanthi

 

15000

S. R. Mohan

 

22500

S. Srikanthi

 

15000

S. Malika

 

22500

Total

 

90000

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of Tools, Machinery and Consumable to Granite Processing Industries

 

 

Products :
  • Auto Strapper(packaging)
  • Clips(Packaging)
  • Cutting Blades(cutting)
  • Ec Blades(cutting)
  • Economy Resing Bond Segments(polishing)
  • Felt Buffing Disc(polishing)
  • Final Polish Lux Brick(polishing)
  • Granite And Metal Wheel(abrasive)
  • Mbopp Tape(packaging)
  • Metal Cups(polishing)
  • Metal Grinding Brick(Polishing)
  • Nailers (packaging)
  • Polishing Genesis Pad 4 Inch(polishing)
  • Polishing Genesis Pad 5 Inch(polishing)
  • Pp Strap(packaging)
  • Resin Bond Polishing Brick
  • Resin Bond Segment 4 Inch(polishing)
  • Resin Cup Wheels 2 Inch(polishing)
  • Resin Cup Wheels 3 Inch(Polishing)
  • Resin Cup Wheels 4 Inch(polishing)
  • Segments(Cutting)
  • Strap Dispensor(Packaging)
  • Tensioner(packaging)
  • Convex Polishing Pad(Polishing)
  • Copper Polishing Pads Hq(polishing)
  • Vishnu Polishing Pad(polishing)
  • Resin Bond Segments
  • Resin Bond Segments 10 Inch(Polishing)
  • Resin Bond Segments 8 Inch(Polishing)
  • Steel Strap(packaging)
  • Metal Bond Grinding Disc(Polishing)

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :
  • Syndicate Bank Pondicherry
  • HDFC

 

 

Facilities :

Unsecured Loan

As on

31.03.2011

(Rs. in

Millions)

As on

31.03.2010

(Rs. in

Millions)

Mr. Ram Mohan

HDFC Loan

0.465

0.255

0.825

0.692

Total

0.720

1.517

 

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

V. P. R. Shivakcumar

Chartered Accountant

Address :

12 / 25, Lake 5th Street, Nungambakkam, Chennai – 600034, Tamilnadu, India

Tel. No.:

91-44-28170262 / 28170526 / 42060262

Fax No.:

91-44-28170526

E-Mail :

shivakcumar@hotmail.com

cashivakcumar@yahoo.com

PAN.:

ABAPS3019G

 

 

CAPITAL STRUCTURE

 

As on 30.09.2011

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs. 10/- each

Rs. 1.000 million

 

 

 

 

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

90000

Equity Shares

Rs. 10/- each

Rs. 0.900 million

 

 

 

 

 

 

 

 

 

 

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

0.900

0.900

0.900

2] Share Application Money

0.000

0.00

0.000

3] Reserves & Surplus

0.630

0.446

0.902

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

1.530

1.346

1.802

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.720

1.518

3.802

TOTAL BORROWING

0.720

1.518

3.802

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

2.250

2.864

5.604

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

1.424

1.577

2.600

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
1.892
2.040

2.050

 

Sundry Debtors
0.558
0.413

0.868

 

Cash & Bank Balances
0.175
0.081

0.228

 

Other Current Assets
0.000
0.022

0.022

 

Loans & Advances
0.474
0.452

0.489

Total Current Assets
3.099

3.008

3.657

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
2.171
1.510

0.390

 

Other Current Liabilities
0.069
0.035

0.029

 

Provisions
0.033
0.176

0.234

Total Current Liabilities
2.273

1.721

0.653

Net Current Assets
0.826

1.287

3.004

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

2.250

2.864

5.604

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

 

 

 

 

 

NET PROFIT

0.184

0.198

N.A.

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials (In US $)

121104

116925

23565

 

TOTAL IMPORTS

121104

116925

23565

 

 

 

 

 

 

Earnings Per Share (Rs.)

2.04

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.95
2.41

2.47

 

 
 
 

 

Current Ratio

(Current Asset/Current Liability)

 
1.36
1.75

5.60

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

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

No

9]

Name of person contacted

No

10]

Designation of contact person

No

11]

Turnover of firm for last three years

No

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

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 involved in

----

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

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN 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

 

 

Fixed Assets:

  • Plant and Machinery
  • Office Equipments
  • Furniture and Fixture
  • Vehicles

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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

UK Pound

1

Rs.86.60

Euro

1

Rs.68.66

 

 

INFORMATION DETAILS

 

Report Prepared by :

NID

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

2

--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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

26

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.