|
Report Date : |
12.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
LB FLOORING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Lohana Mahajan Wadi MArg, Gandhibagh, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
14.05.2008 |
|
|
|
|
Com. Reg. No.: |
182182 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2008PTC182182 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Trader of Flooring, Laminate Flooring, Engineered Flooring, Outdoor
Deck Wood Flooring |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRAs Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Lohana Mahajan Wadi MArg, Gandhibagh, Nagpur 440002, Maharashtra,
India |
|
Tel. No.: |
91-712-2766575 /5688535 |
|
Fax No.: |
91-712-2761659 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Shyamal Panchmatia |
|
Designation : |
Director |
|
Address : |
47 Gagan Vihar Building, P B 335, Lohana Mahajan Wadi Marg, Nagpur
440002, Maharashtra, India |
|
Date of Birth/Age : |
07.07.1985 |
|
Date of Appointment : |
14.05.2008 |
|
|
|
|
Name : |
Mr. Jaidev Laxmidas Panchmatia |
|
Designation : |
Director |
|
Address : |
UMA 309 E, Chitnavis Marg, Civil Lines, Nagpur 440001, Maharashtra,
India |
|
Date of Birth/Age : |
17.04.1952 |
|
Date of Appointment : |
14.05.2008 |
|
|
|
|
Name : |
Mr. Vishal Panchmatia |
|
Designation : |
Director |
|
Address : |
300 Civil Lines, Chitnavis Lane, Nagpur 440001, Maharashtra, India |
|
Date of Birth/Age : |
18.06.1974 |
|
Date of Appointment : |
08.05.2009 |
|
|
|
|
Name : |
Mr. Karan Ramesh Hingle |
|
Designation : |
Director |
|
Address : |
7 Atrey Layout, Pratap Nagar, Nagpur 440022, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1985 |
|
Date of Appointment : |
19.07.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Panchmati Shyamal |
4000 |
|
Panchmati Jaidev |
3000 |
|
Panchmatia Mamta |
3000 |
|
Total |
10000 |
LIST OF ALLOTTEE
AS ON 09.11.2010
|
Names of Shareholders |
No. of Shares |
|
Shyamal J Panchmatia |
796000 |
|
Panchmati Jaidev |
87000 |
|
Panchmatia Mamta |
97000 |
|
Total |
980000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Flooring, Laminate Flooring, Engineered Flooring, Outdoor
Deck Wood Flooring |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Union Bank of India, Gagan Vihar Building, Lohana Mahajan Wadi Marg,
Gandhibagh, Nagpur 440002, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P T Chhabria and Company Chartered Accountant |
|
Address : |
1st Floor, Zal Complex, Residency Road, Sadar, Nagpur
440001, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10 each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs. 10 each |
Rs.0.100 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.025 |
|
|
4] (Accumulated Losses) |
|
(0.203) |
0.000 |
|
|
NETWORTH |
|
(0.103) |
0.125 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.528 |
0.000 |
|
|
2] Unsecured Loans |
|
9.535 |
13.396 |
|
|
TOTAL BORROWING |
|
10.063 |
13.396 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
9.960 |
13.521 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.877 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
1.020 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
12.198
|
7.488 |
|
|
Sundry Debtors |
|
0.413
|
13.401 |
|
|
Cash & Bank Balances |
|
0.217
|
0.392 |
|
|
Other Current Assets |
|
1.582
|
0.601 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
14.410
|
21.882 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
6.037
|
8.283 |
|
|
Other Current Liabilities |
|
0.310
|
0.023 |
|
|
Provisions |
|
0.000
|
0.055 |
|
Total
Current Liabilities |
|
6.347
|
8.361 |
|
|
Net Current Assets |
|
8.063
|
13.521 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
9.960 |
13.521 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
18.004 |
15.982 |
|
|
|
Other Income |
|
0.000 |
0.035 |
|
|
|
TOTAL (A) |
|
18.004 |
16.017 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
13.608 |
15.005 |
|
|
|
Administrative Expenses |
|
4.043 |
0.763 |
|
|
|
TOTAL (B) |
|
17.651 |
15.768 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.353 |
0.249 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.426 |
0.208 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(0.073) |
0.041 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.156 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
(0.229) |
0.041 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.016 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
(0.229) |
0.025 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
(1.27) |
0.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(1.27) |
0.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(1.49) |
0.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
2.22 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
(159.32) |
174.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.27 |
2.61 |
LOCAL AGENCY FURTHER INFORMATION
FIXED
ASSETS:
·
Furniture and Fixture
·
Vehicle
·
Computer
FORM 8
|
Corporate
identity number of the company |
U74900MH2008PTC182182 |
|
Name of the
company |
LB FLOORING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Lohana Mahajan Wadi MArg, Gandhibagh, Nagpur 440002, Maharashtra,
India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property (not
being pledge) |
|
Particular of
charge holder |
Union Bank of India, Gagan Vihar Building, Lohana Mahajan Wadi Marg,
Gandhibagh, Nagpur 440002, Maharashtra, India Email: lbindustries@gmail.com
|
|
Nature of
instrument creating charge |
Supplementary
Agreement To Sd-06 Hypothecation
Agreement Of Goods and Debts |
|
Date of
instrument Creating the charge |
27.08.2010 |
|
Amount secured by
the charge |
Rs. 20.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Bank Base Rate
+5% For The Revised Limit Terms of repayment Payable On Demand Margin As Per Old
Agreement Extent and operation of the charge Charge Is Created
On Asset Of The Company To Secure The Repayment Of Principal, Interest And
Other Outstandings. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecated
Goods , Book Debts And Moveable Property Covered By The Principal
Hypothecation Agreement |
|
Particulars of
the present modification |
Total Cash Credit
Limit Is Increased From Rs. 8.000 millions To Rs. 20.000 millions And
Additional Limit Secured By Hypothecated Goods , Book Debts And Moveable
Property Covered By The Principal Hypothecation Agreement |
|
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 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 |
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 |
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 Intl
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 companys 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.55.24 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
14 |
This score serves as a reference to assess SCs 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.