|
Report Date : |
21.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SIMPEX GRANITO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
107 P1-2, 108P1-2, Behind Senso, Taluka Wankaner, Sartanpar – 363 622, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.02.2010 |
|
|
|
|
Com. Reg. No.: |
11-059596 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 7.170 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26933GJ2010PTC059596 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTS07000A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AANCS8840G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Vitrified Tiles. |
|
|
|
|
No. of Employees
: |
160 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 210000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track records. There
appears some accumulated losses recorded by the company. Trade relations are reported as improving. Business is active. Payment
terms are unknown. The company can be considered for business dealings with some caution. Note: Profit and loss statements are not made available. |
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 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.
INFORMATION PARTED BY
|
Name : |
Mr. Jayeshkumar Bhalodia |
|
Designation : |
Director |
|
Contact No.: |
91-9727770104 |
|
Date : |
18.08.2012 |
LOCATIONS
|
Registered Office : |
107P1-2, 108P1-2, Behind Senso, Taluka Wankaner, Sartanpar – 363 622, |
|
Tel No.: |
Not Available |
|
Mobile No.: |
91-9727770104 (Mr. Jayesh Kumar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
1000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
8-A, |
|
Area : |
10000 Sq. ft. |
|
Location : |
Owned |
|
|
|
DIRECTORS
As on 30.07.2011
|
Name : |
Mr. Rameshbhai Vasrambhai Bhalodia |
|
Designation : |
Director |
|
Address : |
New Adarsh
Society, |
|
Date of Birth/Age : |
15.07.1963 |
|
Date of Appointment : |
16.02.2010 |
|
DIN No.: |
00690750 |
|
|
|
|
Name : |
Mr. Jayeshkumar Hemrajbhai Bhalodia |
|
Designation : |
Director |
|
Address : |
Somnath Society, Block No.20,
Opposite Diamond Hall, |
|
Date of Birth/Age : |
14.09.1986 |
|
Date of Appointment : |
16.02.2010 |
|
DIN No.: |
02932544 |
|
|
|
|
Name : |
Mr. Lalitkumar Parshotam
Bhalodia |
|
Designation : |
Director |
|
Address : |
ABHYUDAY, Somnath Society – 21, Near Diamond Hall, |
|
Date of Birth/Age : |
16.07.1965 |
|
Date of Appointment : |
16.02.2010 |
|
DIN No.: |
02932523 |
|
|
|
|
Name : |
Mr. Hemrajbhai Parshottambhai
Bhalodia |
|
Designation : |
Director |
|
Address : |
Somnath Society, Block No.20,
Opposite Diamond Hall, |
|
Date of Birth/Age : |
12.08.1963 |
|
Date of Appointment : |
16.02.2010 |
|
DIN No.: |
02932545 |
|
|
|
|
Name : |
Mr. Mansukhbhai Devjibhai
Bhalodia |
|
Designation : |
Director |
|
Address : |
Vithhal Nagar,
Behind Kanya Chhatralay, |
|
Date of Birth/Age : |
29.11.1963 |
|
Date of Appointment : |
16.02.2010 |
|
DIN No.: |
02944733 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Names of Shareholders |
|
No. of Shares |
|
Hemrajbhai Parsottambhai Bhalodia |
|
87220 |
|
Rameshbhai Vashrambhal
Bhalodia |
|
36000 |
|
Mansukhbhai Devjibhai
Bhalodiya |
|
48880 |
|
Laliikiimar Parshotam
Bhalodiya |
|
59400 |
|
Jayeshkumar Hernia|bliai
Bhalodia |
|
36950 |
|
Parsottambhai Bhalodia |
|
22800 |
|
Keshavjibhai Sanavda |
|
35700 |
|
Bhaveshbhai Prabhubhai
Kanerla |
|
11470 |
|
Dipakbhai Kanjibhai Sanavada |
|
5400 |
|
Manjulaben Mansukbhai
Bhalodiya |
|
6500 |
|
Nilesbbhai Mahadevbhai
Kasundra |
|
11700 |
|
Pitambar Khodabhai
Kaneria |
|
5040 |
|
Pravinbhal Raqhavjibhai
Padaliya |
|
8520 |
|
Vasantbhai Ambabhai
Bhalodiya |
|
13490 |
|
Vasantbbal Devjibhai
Bhalodiya |
|
6500 |
|
Gita Vinimai Private Limited,
|
|
51800 |
|
Jeevan Commotrade Private
Limited, |
|
25000 |
|
Makeover
Vintrade Private Limited, |
|
25000 |
|
Dilipbhai Thakarshibhai
Bavarva |
|
3100 |
|
Hasmukbhal Chaturbhai
Bavarva |
|
3100 |
|
Bhavin Hiralal Paresha |
|
980 0 |
|
Dharmesh H. Bhalodia |
|
3500 |
|
Dipak Nanshibhai Dava |
|
6000 |
|
Hansrajbhai Parshottambhai Bhalodia |
|
10700 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
14.64 |
|
Directors or relatives of Directors |
49.85 |
|
Other top fifty shareholders |
35.51 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Vitrified Tiles. |
|
|
|
|
Products : |
·
Soluble Vitrified Tiles ·
Matt Vitrified Tiles ·
Nano Technology
Vitrified Tiles ·
Glaze Vitrified Tiles ·
Heavy Duty Parking Tiles ·
Rustic Vitrified Tiles ·
Lapato Vitrified
Tiles ·
Vitrified Floor Tiles ·
Marbonite Vitrified
Tiles |
|
|
|
|
Exports : |
|
|
Products : |
·
Vitrified Tiles |
|
Countries : |
·
·
Srilanka |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Material |
|
Countries : |
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Credit |
|
|
|
|
Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Suppliers : |
·
SNS India Private Limited |
|
|
|
|
Customers : |
·
Goyal Senatri |
|
|
|
|
No. of Employees : |
160 (Approximately) |
|
|
|
|
Bankers : |
·
State Bank of ·
State Bank of India, Industrial Bank of India,
Industrial Finance Branch, Neptune Tower Annexe, 1st
Floor, Near Nehru Bridge, Ashram Road, Ahmedabad –
380009, Gujarat, India ·
Kotak Mahindra Bank, Morbi |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Sharda and Associates Chartered Accountants |
|
Address : |
8-13, |
|
PAN No.: |
AAAFZ3476D |
|
|
|
|
Associates/Subsidiaries : |
·
Keda Ceramic Private Limited Add: 107P1-2,
108P1-2, Behind Senso, Taluka
Wankaner, Sartanpar – 363
622, Line of
Business: Manufacturer and Exporter of Vitrified Tiles. |
CAPITAL STRUCTURE
As on 30.07.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
850000 |
Equity Shares |
Rs. 10/-each |
Rs. 8.500 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
717000 |
Equity Shares |
Rs. 10/-each |
Rs. 7.170
millions |
|
|
|
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
7.170 |
1.800 |
|
|
2] Share Application Money |
|
0.000 |
2.865 |
|
|
3] Reserves & Surplus |
|
52.830 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(5.776) |
0.000 |
|
|
NETWORTH |
|
54.224 |
4.665 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
124.384 |
0.000 |
|
|
2] Unsecured Loans |
|
6.797 |
0.000 |
|
|
TOTAL BORROWING |
|
131.181 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
5.586 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
190.991 |
4.665 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
139.782 |
1.580 |
|
|
Capital work-in-progress |
|
0.000 |
1.392 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.015 |
0.015 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
39.448 |
0.000 |
|
|
Sundry Debtors |
|
27.866 |
1.200 |
|
|
Cash & Bank Balances |
|
5.271 |
0.443 |
|
|
Other Current Assets |
|
7.198 |
0.000 |
|
|
Loans & Advances |
|
13.017 |
0.025 |
|
Total
Current Assets |
|
92.800 |
1.668 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
41.355 |
0.072 |
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
0.259 |
0.003 |
|
Total
Current Liabilities |
|
41.614 |
0.075 |
|
|
Net Current Assets |
|
51.186 |
1.593 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.008 |
0.085 |
|
|
|
|
|
|
|
|
TOTAL |
|
190.991 |
4.665 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
350.000 |
Expected Sales ( 2012-13 ) : Rs. 300.000
Millions
The above information has been parted by Mr. Jayeshkumar
Bhalodia.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.18 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.23 |
22.24 |
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 |
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
one year |
Yes |
|
12] |
Profitability for last
three years |
No |
|
13] |
Reasons for variation
<> 20% |
---- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 involved in |
---- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U26933GJ2010PTC059596 |
|
Name of the
company |
SIMPEX GRANITO
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
107 P1-2, 108P1-2, Behind Senso, Taluka Wankaner, Sartanpar – 363 622, e-mail: simpexvitrifiedtiles@yahoo.in
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10227845 |
|
Type of charge |
Immovable
Property Book Debts Movable Property
(not being Pledge) |
|
Particular of
charge holder |
State Bank of e-mail: sbi.60327@sbi.co.in |
|
Nature of
instrument creating charge |
1. Supplemental Agreement
of Hypothecation of Goods and assets for Increase in the Overall Limit. 2. Memorandum
relating to Deposit of Title Deeds for Creation of Further Charge for Overall
Limit where the Initial Charge is created by way of Mortgage by Deposit of
Title Deeds. |
|
Date of
instrument Creating the charge |
13.10.2011 |
|
Amount secured by
the charge |
Rs. 184.600 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit : - 4
% above Base Rate at Present 14% p.a. with monthly Rests Term Loan : -
4.50% above Base Rate at Present 14.50% p.a. with monthly Rests Terms of Repayment Repayment
Schedule will be same as Described in Creation of Charge Margin Raw Material -
25% Stores &
Spares - 30% Stock in Process
- 30% Finished Good -
25% Receivables
(Cover Period 120 Days) - 40% Bank Guarantee -
25% Extent and Operation of the charge First & Sole
Charge of the Bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Extension of
Charge over entire present & Future Current Assets of the Company. Residential
Building on Plot No. 20 admeasuring Sq. Fts. 3927
(built up area GF+FF Sq. Mts. 318.25) of non agricultural land S.No. 1126p of Village Vajepar
& S.No. 1128p of Village Madhapar,
Taluka Morbi. |
|
Particulars of
the present modification |
(Rs. in Millions) Particulars Existing Limit New Limit Cash Credit 50.000 70.000 Term Loan 100.000 97.000 Bank
Guarantee 9.000 16.000 Credit
Exposure 2.000 1.600
----------------------------------------- 161.000 184.600 |
TRADE REFERENCES
·
Goyal Senatri
·
SNS India Private Limited
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] 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.55.70 |
|
|
1 |
Rs.87.54 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
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 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--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.