1. Summary Information
|
|
|
Country |
India |
|
Company Name |
GOKALDAS IMAGES
PRIVATE LIMITED |
Principal Name 1 |
Mr. Jagadish Naraindas Hinduja |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Pushpa J Hinduja |
|
|
|
Registration # |
08-017081 |
|
Street Address |
7 and 12, Industrial Suburb, II Stage, Yeshwanthpur, Tumkur Road,
Bangalore – 560022, Karnataka, India |
||
|
Established Date |
01.02.1995 |
SIC Code |
-- |
|
Telephone# |
91-80-22964154 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-22964164 |
Business Style 2 |
Importer |
|
Homepage |
Product Name 1 |
Knitted Garments |
|
|
# of employees |
9000
(Approximately) |
Product Name 2 |
Woollen Garments |
|
Paid up capital |
Rs.
133,084,000/- |
Product Name 3 |
Cotton Garments |
|
Shareholders |
Directors or relatives of directors – 99.99% Other – 0.01% |
Banking |
State
Bank of India |
|
Public Limited Corp. |
NO |
Business Period |
17 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
|
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
USA |
Gokaldas Images (USA) Inc. |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3,371,925,000 |
Current Liabilities |
479,157,000 |
|
Inventories |
1,113,609,000 |
Long-term Liabilities |
4,253,559,000
|
|
Fixed Assets |
553,917,000 |
Other Liabilities |
114,093,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
4,846,809,000 |
|
Invest& other Assets |
89,761,000 |
Retained Earnings |
149,319,000 |
|
|
|
Net Worth |
282,403,000 |
|
Total Assets |
5,129,212,000 |
Total Liab. & Equity |
5,129,212,000 |
|
Total Assets (Previous Year) |
3,705,408,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Total Income |
4,077,600,000 |
Net Profit / Loss |
(961,900,000) |
|
Total Income (Previous yr) |
4,454,000,000 |
Net Profit
/ Loss (Prev.yr) |
66,400,000 |
|
Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
GOKALDAS IMAGES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
GOKALDAS IMAGES LIMITED |
|
|
|
|
Registered
Office : |
7 and 12, Industrial Suburb, II Stage, Yeshwanthpur, Tumkur Road,
Bangalore – 560022, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
01.02.1995 |
|
|
|
|
Com. Reg. No.: |
08-017081 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.133.084 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101KA1995PTC017081 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of Cotton Readymade Garments and
Knitted Garments. |
|
|
|
|
No. of Employees
: |
9000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having moderate track. There appears
huge losses recorded by the company in the current year i.e. 2009-10.
However, trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with some caution.
Note : As confirmed by Ms. Gaytri [HR Assistant Manager] subject was
established in 1979 by the name of ‘Gokaldas Images Limited’, they changed
the name of the company in 1995 ‘Gokaldas Images Private Limited’ |
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 |
INFORMATION PARTED BY
|
Name : |
Mr. S. Ravi Kumar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9343785954 |
|
Name : |
Ms. Gaytri |
|
Designation : |
HR Assistant Manager |
LOCATIONS
|
Registered Office : |
7 and 12, Industrial Suburb, II Stage, Yeshwanthpur, Tumkur Road,
Bangalore – 560022, Karnataka, India |
|
Tel. No.: |
91-80-22964154/ 22964164/5/23377059/ 23377060/ 22964100 / 22964101 |
|
Mobile No.: |
91-9343785954 (Mr. S. Ravi Kumar) |
|
Fax No.: |
91-80-22964164 / 22964165/ 22964100/ 01/ 02 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
(They have 9 Factories)
English Blazer Division:
Tel. 91-80-26666181/191 Fax. 91-80-26666190 Designer Suit Division:
18A, Industrial Suburb, 2nd
Stage, Yeshwantpur, Tel. 91-80-23377059 Fax. 91-80-23377056 Indian Connection Division and Contour Apparels Division:
135/5, Industrial Suburb, 2nd Stage, Yeshwantpur, Tel. 91-80-23377059 Fax. 91-80-23377056 At Rajaji Nagar, Bangalore - 560 010, Karnataka, India |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Jagadish Naraindas Hinduja |
|
Designation : |
Whole-time director |
|
Address : |
203, Pooja, Sankey Road, Upper Palace, Orchards,
Bangalore – 560080, Karnataka, India |
|
Date of Birth/Age : |
31.03.1945 |
|
Date of Appointment : |
01.02.1995 |
|
DIN No.: |
00061019 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U18101KA1995PTC017081 |
Gokaldas
Images Private Limited |
Whole-time
director |
01-04-07 |
01-02-95 |
- |
Active |
NO |
|
2 |
U74899DL1978NPL008877 |
Apparel
Export Promotion Council |
Director |
30-09-10 |
28-09-01 |
- |
Active |
NO |
|
3 |
U18101KA2001PTC029774 |
Gokaldas
Intimatewear Private Limited |
Director |
16-11-01 |
16-11-01 |
- |
Active |
NO |
|
4 |
L70100MH1951PLC008647 |
Ador
Welding Limited |
Director |
28-03-05 |
28-03-05 |
31-03-10 |
Active |
NO |
|
5 |
U65993KA2006PTC038372 |
Hinduja
Investments Private Limited |
Director |
03-02-06 |
03-02-06 |
- |
Active |
NO |
|
6 |
U07010KA2006PTC038619 |
Hinduja
Realtors Private Limited |
Director |
28-02-06 |
28-02-06 |
- |
Active |
NO |
|
7 |
U70200KA2006PTC041069 |
Gokaldas
Images Infrastructure Private Limited |
Director |
28-11-06 |
28-11-06 |
- |
Active |
NO |
|
8 |
U21012KA1997PTC050582 |
Siic
Packaging (India) Private Limited |
Director |
25-06-08 |
22-01-08 |
- |
Active |
NO |
|
9 |
U18101KA2008PTC047176 |
Jsmp
Garments Private Limited |
Director |
16-07-08 |
16-07-08 |
- |
Active |
NO |
|
10 |
U70101KA2011PTC057344 |
Gokalsat
Properties Private Limited |
Director |
03-03-11 |
03-03-11 |
- |
Active |
NO |
|
11 |
U17120KA2011PTC060800 |
Beehive
Made UPS Private Limited |
Director |
12-10-11 |
12-10-11 |
25-11-11 |
Active |
NO |
|
Name : |
Mrs. Pushpa J Hinduja |
|
Designation : |
Whole-time director |
|
Address : |
203, Pooja, Sankey Road, Upper Palace, Orchards, Bangalore
– 560080, Karnataka, India |
|
Date of Birth/Age : |
07.07.1945 |
|
Date of Appointment : |
01.02.1995 |
|
DIN No.: |
00069630 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U18101KA1995PTC017081 |
Gokaldas
Images Private Limited |
Whole-time
director |
01-02-95 |
01-02-95 |
- |
Active |
NO |
|
2 |
U18101KA2001PTC029774 |
Gokaldas
Intimatewear Private Limited |
Director |
15-09-05 |
15-09-05 |
- |
Active |
NO |
|
3 |
U07010KA2006PTC038619 |
Hinduja
Realtors Private Limited |
Director |
28-02-06 |
28-02-06 |
- |
Active |
NO |
|
Name : |
Mr. Sumir J Hinduja |
|
Designation : |
Managing Director |
|
Address : |
203, Pooja, Sankey Road, Upper Palace, Orchards,
Bangalore – 560080, Karnataka, India |
|
Date of Birth/Age : |
05.12.1968 |
|
Date of Appointment : |
01.02.1995 |
|
DIN No.: |
00069704 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U18101KA1995PTC017081 |
Gokaldas
Images Private Limited |
Managing
director |
01-04-07 |
01-02-95 |
- |
Active |
NO |
|
2 |
U18101KA2001PTC029774 |
Gokaldas
Intimatewear Private Limited |
Director |
16-11-01 |
16-11-01 |
- |
Active |
NO |
|
3 |
U65993KA2006PTC038372 |
Hinduja
Investments Private Limited |
Director |
03-02-06 |
03-02-06 |
- |
Active |
NO |
|
4 |
U07010KA2006PTC038619 |
Hinduja
Realtors Private Limited |
Director |
28-02-06 |
28-02-06 |
- |
Active |
NO |
|
5 |
U70200KA2006PTC041069 |
Gokaldas
Images Infrastructure Private Limited |
Director |
28-11-06 |
28-11-06 |
- |
Active |
NO |
|
6 |
U21012KA1997PTC050582 |
SIIC
Packaging (India) Private Limited |
Director |
25-06-08 |
22-01-08 |
- |
Active |
NO |
|
7 |
U18101KA2008PTC047176 |
JSMP
Garments Private Limited |
Director |
16-07-08 |
16-07-08 |
- |
Active |
NO |
|
8 |
U70101KA2011PTC057344 |
Gokalsat
Properties Private Limited |
Director |
03-03-11 |
03-03-11 |
- |
Active |
NO |
|
9 |
U17120KA2011PTC060800 |
Beehive
Made Ups Private Limited |
Director |
12-10-11 |
12-10-11 |
25-11-11 |
Active |
NO |
|
Name : |
Mr. Rajesh Adhikary |
|
Designation : |
Director |
|
Address : |
201-2, 2nd A Wing, CTS 586 – II, Raheja Sherwood, Off W. E.
Highway Goregaon East, Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
18.11.1969 |
|
Date of Appointment : |
21.04.2009 |
|
DIN No.: |
02561123 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U18101KA1995PTC017081 |
Gokaldas
Images Private Limited |
Nominee
director |
21-04-09 |
21-04-09 |
- |
Active |
NO |
|
2 |
U74140DL2007PTC163275 |
Aria
Hotels And Consultancy Services Private Limited |
Director |
30-05-11 |
22-07-10 |
- |
Active |
NO |
|
3 |
L55101DL2007PLC157518 |
Asian
Hotels (West) Limited |
Alternate
director |
10-08-11 |
11-02-11 |
- |
Active |
NO |
|
4 |
U55101MH2008PLC200363 |
Apodis
Hotels and Resorts Limited |
Nominee
director |
11-11-11 |
28-03-11 |
- |
Active |
NO |
|
Name : |
Mr. Munish J Hinduja |
|
Designation : |
Director |
|
Address : |
203, Pooja, Sankey Road, Upper Palace, Orchards,
Bangalore – 560080, Karnataka, India |
|
Date of Birth/Age : |
02.05.1972 |
|
Date of Appointment : |
01.02.1995 |
|
Date of Cessation : |
31.07.2011 |
|
DIN No.: |
00070022 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U18101KA1995PTC017081 |
Gokaldas
Images Private Limited |
Director |
01-04-07 |
01-02-95 |
31-07-11 |
Active |
NO |
|
2 |
U18101KA2001PTC029774 |
Gokaldas
Intimatewear Private Limited |
Director |
15-09-05 |
15-09-05 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. S. Ravi Kumar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares (Equity) |
|
|
|
|
|
Jagadish Naraindas Hinduja |
|
2405928 |
|
Pushpa J Hinduja |
|
4319137 |
|
Sumir J Hinduja |
|
2099970 |
|
Prakash Makhija |
|
3757 |
|
Neeraj Varma |
|
7 |
|
Sunil V Raheja |
|
3757 |
|
Mohini V Raheja |
|
3756 |
|
IL and FS Trust Company Limited A/C IL and FS Private Equity Trust –
Leverage India Fund, India |
|
100 |
|
Makhija Beju |
|
6 |
|
|
|
|
|
Total |
|
8836418 |
|
|
||
|
Names of Shareholders |
|
No. of Shares (Preference) |
|
|
|
|
|
IL and FS Trust Company Limited A/C IL and FS Private Equity Trust –
Leverage India Fund, India |
|
4300 |
|
Trustees IVC Employees Welfare Trust, India |
|
86 |
|
Arun Saha, Vibhav Kapoor Trustees, IL and FS Employees Welfare Trust,
India |
|
86 |
|
|
|
|
|
Total |
|
4472 |
(AS ON 30.09.2010)
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
99.99 |
|
Other |
|
0.01 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Cotton Readymade Garments and
Knitted Garments. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Brand Name : |
PVH and STUN CRAFT. |
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
· Readymade Garments · Knitted Garments |
||||||||
|
Countries : |
· USA · UK · Canada |
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Fabrics, Accessories and Machinery |
||||||||
|
Countries : |
· China · Hong Kong · Pakistan |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
L/C, Credit, CAD |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C, Credit, Advance TT |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users ·
Ann Taylor ·
Armani Exchange ·
H and M ·
J C Penney ·
Jockey ·
·
Nautica ·
Nike ·
Geoffery Beene ·
Esprit ·
Calvin Klein ·
Ashworth ·
Reebok |
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|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
9000 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Export Import Bank of India, Centre 1, Floor 21, World Trade Centre, Cuffe Parade, Mumbai -400005,
Maharashtra, India · State Bank of India, Overseas Branch, St Marks Road, LHO Compound, Bangalore -560001,
Karnataka, India · HDFC Bank, M G Branch, India · Canara Bank, Avani Road Branch, Bangalore, Karnataka, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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|
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|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B K Ramadhyani and Company Chartered Accountant |
|
Address : |
4B, Chitapur Bhavan, No. 68, 8th Main, 15th
Cross, Malleswaram, Bangalore 560055, Karnataka, India |
|
|
|
|
Associates/Subsidiaries : |
· Gokaldas Images (USA) Inc. Tel. 001-212-7303950 Fax. 001-212-7303970 · Jeans Wash Company Daddapallapur, Bangalore, Karnataka, India |
CAPITAL STRUCTURE
AFTER 30.09.2010
Authorised Capital : Rs.950.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.936.316 Millions
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10528000 |
Equity Shares (with 100 equity shares with differential voting rights of Rs.10/-
each) |
Rs.10/- each |
Rs.105.280 millions |
|
4472 |
0.001% Compulsorily Convertible Preference Shares of Rs.10000/- each |
Rs.10000/- each |
Rs.44.720 millions |
|
|
Total |
|
Rs.150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8836418 |
Equity Shares (Precious year 8,836,418 Equity Shares of
Rs.10 each comprising of
8,836,318 allotted as filly paid up for consideration other than cash and 100
Equity Shares with Differential voting
rights allotted for cash) |
Rs.10/- each |
Rs.88.364
Millions |
|
4472 |
0.001% Compulsorily Convertible Preference Shares of Rs.10000/ each
fully paid. |
Rs.10000/- each |
Rs.44.720 millions |
|
|
Total |
|
Rs.133.084
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
133.084 |
133.084 |
133.084 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
149.319 |
1111.205 |
1044.853 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
282.403 |
1244.289 |
1177.937 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4187.726 |
2129.147 |
1432.074 |
|
|
2] Unsecured Loans |
65.833 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
4253.559 |
2129.147 |
1432.074 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4535.962 |
3373.436 |
2610.011 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
553.917 |
613.824 |
691.635 |
|
|
Capital work-in-progress |
0.000 |
150.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
83.163 |
83.163 |
31.466 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1113.609
|
1315.705
|
1172.751 |
|
|
Sundry Debtors |
1415.512
|
536.768
|
248.994 |
|
|
Cash & Bank Balances |
70.051
|
130.977
|
79.959 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
1886.362
|
867.056
|
766.099 |
|
Total
Current Assets |
4485.534
|
2850.506 |
2267.803 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
304.224
|
64.932
|
315.220 |
|
|
Other Current Liabilities |
174.933
|
143.968
|
29.230 |
|
|
Provisions |
114.093
|
123.072
|
45.679 |
|
Total
Current Liabilities |
593.250
|
331.972
|
390.129 |
|
|
Net Current Assets |
3892.284
|
2518.534
|
1877.674 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
6.598 |
7.915 |
9.236 |
|
|
|
|
|
|
|
|
TOTAL |
4535.962 |
3373.436 |
2610.011 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
4077.600 |
4454.000 |
4417.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
4533.000 |
4051.600 |
4041.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(455.400) |
402.400 |
376.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
427.200 |
239.000 |
167.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(882.600) |
163.400 |
208.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
78.300 |
87.200 |
100.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(960.900) |
76.200 |
108.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.000 |
9.800 |
2.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(961.900) |
66.400 |
105.400 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1085.700 |
1019.400 |
914.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
123.800 |
1085.800 |
1019.400 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(108.85) |
7.51 |
11.92 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
4400.000 |
|
|
|
|
|
The above information has been parted by Mr. S. Ravi Kumar.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(23.59)
|
1.49
|
2.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.07)
|
2.20
|
3.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(3.40)
|
0.06
|
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
17.16
|
1.97
|
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.56
|
8.58
|
5.81 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF OPERATIONS
The operational margins of the company were significantly impacted due
to the above factors resulting Into non-commensurate debt along-with Inadequate
operational cash flows
· On account of recession, clients put pressure on prices and margins leading to delay / postponement of big ticket orders during the post recession months.
· Low capacity utilization on account of delay / postponement of big ticket orders.
· GIL did not wish to scout for alternate customers in a risk ridden environment which led to lower capacity utilization.
· Substantial increase in raw material prices without commensurate rise in sales realization.
· Credit risk due to recessionary market conditions impacted the financial position of many customers to pick and choose of orders.
CURRENT YEAR’S
OUTLOOK:
During the current year the company expects its order book to be strong
when compared to its previous year as the outlook in the US market seems to be
recovering in the Retail sector. However, the pressure on the margins still
exists. The company plans to adopt the most efficient methods of productivity
and marketing efforts to have the margins improved.
FORM 8
|
Corporate
identity number of the company |
U18101KA1995PTC017081 |
|
Name of the
company |
GOKALDAS IMAGES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
7 and 12 Industrial Suburb, II Stage, Yeshwanthpur, Tumkur Road,
Bangalore -560022, Karnataka, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
Debts ·
Movable
property (not being pledge) ·
Floating
Charge |
|
Particular of
charge holder |
Export Import Bank of India, Centre 1, Floor 21, World Trade Centre, Cuffe Parade, Mumbai 400005,
Maharashtra, India Email: eximbro@blr.vsnl.net.in
|
|
Nature of
instrument creating charge |
Joint Deed of Hypothecation (JDOH) dated 10.06.2011 executed by Gokaldas Images Private Limited ("The Borrower)" in favour of Export Import Bank of India ("Exim Bank") and other CDR Lenders creating security by way of a pari passu first charge on the entire moveable fixed assets and pari passu 2nd charge on the current assets of the Borrower, both present and future, for the WCTL Term Loan of Rs.55.400 Millions granted to the Borrower. |
|
Date of
instrument Creating the charge |
10.06.2011 |
|
Amount secured by
the charge |
Rs.55.400
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 8% Terms of repayment Repayable in 16
Quarterly Installments commencing from March 31,2012. Margin Nil Extent and operation of the charge Pari passu 1st charge over the borrower's fixed assets and 2nd pari passu charge over the borrower's current assets, both present and future. The charge created under the aforesaid JDOH shall rank first pari passu charge with all the term lenders and second pari passu charge with the working capital lenders in accordance with the priority of charges as mentioned in JDOH. |
|
Short particulars
of the property charged (Including location of the property) |
The whole of the movable fixed asset of the Borrower including its movable plant and machinery, machinery spares, tools and accessories and other movables both present and future whether installed or not The whole of the Borrower's stocks of raw materials, semi-finished and finished goods, consumable stores, book debts, receivables and consumable stores and all other movable assets of the Borrower The description of current assets and moveable fixed assets. |
TRADE REFERENCE:
· Gokaldas Exports – Bangalore
· Gokaldas Intimate Ware – Bangalore
FIXED ASSETS:
·
Goodwill
·
Land
·
Leasehold Premises
·
Building
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
·
Electrical Installations
·
Computers
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.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.65.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.