MIRA INFORM REPORT

 

 

Report Date :

07.06.2012

 

IDENTIFICATION DETAILS

 

Name :

TIKI TAR INDUSTRIES (BARODA) LIMITED

 

 

Registered Office :

8 8th  Floor, Neptune Tower, Productivity Council Road, Alakpuri, Vadodara-390005, Gujarat

 

 

Country :

India

 

 

Date of Incorporation :

01.04.2011

 

 

Com. Reg. No.:

064721

 

 

Capital Investment/ Paid-up Capital:

Rs.20.000 Millions

 

 

CIN No.:

[Company Identification No.]

U23109GJ2011PLC064721

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Bitumen and allied Products

 

 

No. of Employees:

150 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

--

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a successor of “ Tiki Tar Industries” a partnership concern started in the year 1979.

 

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 cautions.

 

 

NOTES:

 

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Hirendra K. Mota

Designation :

Partner

Contact No.:

91-9825017456

Date :

07.06.2012

 

 

LOCATIONS

 

Registered Office :

8 8th  Floor, Neptune Tower, Productivity Council Road, Alakpuri, Vadodara-390005, Gujarat, India

Tel. No.:

91-265-2337992

Mobile No.:

91-9825017456 (Mr. Hirendra K. Mota)

Fax No.:

91-265-2334339

E-Mail :

baroda@tikitar.co.in

Website :

www.tikitar.com

Area :

1000 Sq. ft.

Location :

Owned

 

 

Factory  :

Prattapura, Behind Telephone Exchange, Halol Godhra Road, Halol, District Panchmahals, Gujarat, India

Location :

Owned

 

 

Branches :

Village Road, Bhandup(E), Mumbai-400078, Maharashtra, India

Tel. No.:

91-22-25667831

Area :

10000 Sq. ft.

Location :

Owned

 

 

DIRECTOR

 

Name :

Mr. Rajesh K Shah

Designation :

Director

Address :

34, Hari Bahkti Garba Ground, Race Course, Vadodara, Gujarat, India

Date of Birth/Age :

03.01.1959

Din No.:

0111804

 

 

Name :

Mr. Hirendra K Shah

Designation :

Director

Address :

Trupyi, 11, Laxmi Colney, Alkapuri, Baroda, Gujarat, India

Date of Birth/Age :

26.08.1961

Din No.:

00294706

 

 

Name :

Mr. Prateek Shah

Designation :

Director

Address :

34, Hari Bahkti Garba Ground, Race Course, Vadodara, Gujarat, India

Date of Birth/Age :

22.01.1987

Din No.:

00337910

 

 

Name :

Mr. Rajendra Shah

Designation :

Director

Address :

14-B, Jalaram Ashish, Devidayal Road, Mulund (west) Mumbai -400080, Maharashtra, India

Date of Birth/Age :

05.06.1960

Din No.:

00641378

 

 

Name :

Mr. Hardik  Shah

Designation :

Director

Address :

14-B, Jalaram Ashish, Devidayal Road, Mulund (west) Mumbai -400080, Maharashtra, India

Date of Birth/Age :

29.12.1985

Din No.:

00294770

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 01.02.2011

 

Names of Shareholders

 

No. of Shares

Rajesh Kanthilal  Shah

 

760000

Hirendra Kanthilal  Shah

 

785000

Parul Rajendra Shah

 

380000

Varsh Rajesh Shah

 

15000

Pratik Rajesh Shah

 

15000

Ashish Rajesh Shah

 

10000

Manisha H. Mota

 

15000

Rajendra Kanthilal  Shah

 

10000

Hardik Rajendra Shah

 

10000

Total

 

2000000

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Bitumen and allied Products

 

 

Terms :

 

Selling :

L/C Cash and Credit

 

 

Purchasing :

L/C Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

IndianOil Corporation Limited

 

 

Customers :

Wholesalers and Retailers

·         Sadhbav Engineering Limited

·         Bharat Petroleum

·         CPCL

·         LT

·         Sadbhav

·         Tata

·         NTPC

·         ICON

 

 

No. of Employees :

150 (Approximately)

 

 

Bankers :

·         HDFC Bank, Alakpuri Branch

·         Indusind Bank

·         Ing Vysva Bank

 

 

Facilities :

SECURED LAON

28.02.2011

Rs, In million

HDFC Truck loan (1)

0.075

HDFC Truck loan (2)

0.075

HDFC Bank

43.792

HDFC Bank Car Loan

22.850

Indusind Bank Limited

(0.049)

Ing Vysva Bank Baroda

48.430

Total

115.172

 

 

UNSECURED LAON

28.02.2011

Rs, In million

Hirendra K Shah

73.601

Hirendra K Shah Car Loan(Saprk)

0.056

Hirendra K Shah Car Loan(Cruze)

0.627

Rajesh Kanthilal  Shah (R.K)

59.786

Rajesh K Shah(Audi)

1.192

Rajesh K Shah(Civic)

0.016

Rajesh K Shah(Logan)

0.301

Smt . Parul Rajesh Shah

27.549

Ashok Patel Karelebaug

1.530

K.D Shah HUF

0.330

Manish H Mota Loan A/C

1.323

Mirat Navinbhai Bahdalwal

0.300

Rajenra Kanthilal  Shah

0.670

Rajesh Kanthilal  Shah (H.U.F)

3.118

Ratanbahai K Shah Loan A/c

5.728

Varasha R Shah Loan A/C

7.660

Total

183.786

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

R. Shah and Company

Chartered Accountant

 

 

Associates/Subsidiaries :

Tiki Tar Industries (India) Limited 

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Share

Rs.10/- each

Rs.20.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Share

Rs.10/- each

Rs.20.000 Millions

 

 

 

 

 

 

TIKI TAR INDUSTRIES (BARODA) (Partnership Firm)

 

Rs. in Millions

 

28.02.2011

Capital Investment :

 

Owned :  

 

Hirendra K Shah

7.850

Manisha H. Mota

0.150

Rajesh Kanthilal  Shah

7.600

Varsha Rajesh Shah

0.150

Ashish Rajesh Shah

0.100

Prateek Rajesh Shah

0.150

Parul Rajesh Shah

3.800

Rajendra  Kanthilal  Shah

0.100

Hardik Rajendra Shah

0.100

Borrowed :

-

Total :

20.000

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

Particulars

 

 

 

31.03.2012

Sales Turnover(Approximately)

 

 

2000.000

 

Expected Sales (2012-2013) : Rs.2100.000 Millions

 

The above information has been parted by Mr. HIrendra Shah

 

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

ABRIDGED BALANCE SHEET

 

TIKI TAR INDUSTRIES (BARODA)

(Partnership Firm)

 

 

SOURCES OF FUNDS

 

 

 

28.02.2011

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

20.000

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

25.301

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

45.301

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

115.172

2] Unsecured Loans

 

 

183.787

TOTAL BORROWING

 

 

298.959

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

 

 

320.260

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

102.089

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

2.137

DEFERREX TAX ASSETS

 

 

 

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

Inventories
 

 

 

 

Sundry Debtors
 

 

310.897

 

Cash & Bank Balances
 

 

 

 

Other Current Assets
 

 

 

 

Loans & Advances
 

 

 

Total Current Assets
 

 

 

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor
 

 

 

Other Current Liabilities
 

 

70.863

 

Provisions
 

 

 

Total Current Liabilities
 

 

 

Net Current Assets
 

 

240.034

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

 

 

 

 

 

TOTAL

 

 

344.260

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

 

28.02.2011

Debt Equity Ratio

(Total Liability/Networth)

 
 

 

8.16

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

4.38

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Check List by Info Agents

Available in Report [Yes/No]

Year of Establishment

Yes

Locality of the Firm

Yes

Constitution of the firm

Yes

Premises details

Yes

Type of Business

Yes

Line of Business

Yes

Promoters background

Yes

No. of Employees

Yes

Name of Person Contacted

Yes

Designation of contact person

Yes

Turnover of firm for last two years

Yes

Profitability for last three years

No

Reasons for variation <> 20%

-

Estimation for coming financial year

-

Capital the business

Yes

Details of sister concerns

No

Major Suppliers

Yes

Major Customers

Yes

Payment Terms

Yes

Export / Import Details [If Applicable]

Yes

Market Information

-

Litigations that the firm / promoter involved in

-

Banking Details

Yes

Banking Facility Details

Yes

Conduct of the banking account

-

Buyer visit details

-

Financials, if provided

Yes

Incorporation details, if applicable

Yes

Last accounts filed at ROC

No

Major Shareholders, if applicable

Yes

 

 

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.55.50

UK Pound

1

Rs.85.78

Euro

1

Rs.69.30

 

 

INFORMATION DETAILS

 

 

Information Gathered by :

PJA

 

 

Report Prepared by :

BYI

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--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

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

30

 

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.