|
Report Date : |
19.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
GAYATRI INSULATING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.266/2,
267 and 268, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.03.2005 |
|
|
|
|
Com. Reg. No.: |
04-045737 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300GJ2005PTC045737 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDG01250E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG3114C |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is
engaged in manufacturing of Insulating Flexible Composite. |
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|
|
|
No. of Employees
: |
7 (Approximately) |
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 6000 |
|
|
|
|
Status : |
Small Company |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be
considered for small 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.
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. Abhay Dilipbhai Trivedi |
|
Designation : |
Director |
|
Contact No.: |
91-9879552373 |
|
Date : |
18.06.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.266/2,
267 and 268, |
|
Tel. No.: |
91-2662-244432 |
|
Mobile No.: |
91-9879552373 (Mr. Abhay Dilipbhai Trivedi) |
|
Fax No.: |
91-2662-244432 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mahesh Narandas Trivedi |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
01.07.1949 |
|
Date of Appointment : |
21.03.2005 |
|
DIN No.: |
00296873 |
|
|
|
|
Name : |
Mr. Abhay Dilipbhai Trivedi |
|
Designation : |
Director |
|
Address : |
B-2-004, Shatrunjay, Rajendra Complex, C.S. Road-5, Anand Nagar,
Dahisar (East), Mumbai – 400 068, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1974 |
|
Date of Appointment : |
21.03.2005 |
|
DIN No.: |
00581174 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Abhay Dilipbhai Trivedi |
|
50000 |
|
Mahesh Narandas Trivedi |
|
50000 |
|
Total |
|
100000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in manufacturing of Insulating Flexible Composite. |
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|
|
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Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
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Terms : |
|
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Selling : |
Cash and Credit (30 days) |
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|
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
7 (Approximately) |
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Bankers : |
v State Bank of v State Bank of
Saurashtra, SME Branch, Vadodara – 390 009, |
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Facilities : |
Cash Credit – Rs.2.000 millions (From State Bank of India SME Branch
Vadodara)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N.P. Shah and Company Chartered Accountants |
|
Address : |
219, |
|
Tel. No.: |
91-265-2363315/ 3010788 |
|
Income-tax
PAN of auditor or auditor's firm : |
AJHPS8494G |
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 |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.401 |
0.315 |
0.286 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.401 |
1.315 |
1.286 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.599 |
3.931 |
4.521 |
|
|
2] Unsecured Loans |
0.556 |
0.363 |
0.386 |
|
|
TOTAL BORROWING |
3.155 |
4.294 |
4.907 |
|
|
DEFERRED TAX LIABILITIES |
0.108 |
0.117 |
0.091 |
|
|
|
|
|
|
|
|
TOTAL |
4.664 |
5.726 |
6.284 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.252 |
2.529 |
2.659 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.388
|
2.366 |
2.817 |
|
|
Sundry Debtors |
1.382
|
1.973 |
1.257 |
|
|
Cash & Bank Balances |
0.028
|
0.024 |
0.061 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.039
|
0.285 |
0.108 |
|
Total
Current Assets |
3.837
|
4.648 |
4.243 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.381
|
1.382 |
0.626 |
|
|
Other Current Liabilities & Provisions |
0.114
|
0.157 |
0.098 |
|
Total
Current Liabilities |
1.495
|
1.539 |
0.724 |
|
|
Net Current Assets |
2.342
|
3.109 |
3.519 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.070 |
0.088 |
0.106 |
|
|
|
|
|
|
|
|
TOTAL |
4.664 |
5.726 |
6.284 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9.012 |
8.486 |
8.287 |
|
|
|
Other Income |
0.000 |
0.015 |
0.000 |
|
|
|
TOTAL (A) |
9.012 |
8.501 |
8.287 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in Closing Stock |
(0.022) |
0.450 |
(0.809) |
|
|
|
Purchases and Manufacturing Expenses |
7.463 |
6.275 |
7.589 |
|
|
|
Administrative Expenses |
0.368 |
0.349 |
0.564 |
|
|
|
Directors Remuneration |
0.480 |
0.480 |
0.340 |
|
|
|
Pre-operative Expenses W/off |
0.018 |
0.018 |
0.018 |
|
|
|
TOTAL (B) |
8.307 |
7.572 |
7.702 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.705 |
0.929 |
0.585 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.461 |
0.652 |
0.779 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.244 |
0.277 |
(0.194) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.189 |
0.198 |
0.201 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
0.055 |
0.079 |
(0.395) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.006 |
0.050 |
0.011 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
0.049 |
0.029 |
(0.406) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.49 |
0.29 |
(4.06) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
10.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.15.000 millions
The above information has been parted by Mr. Abhay Dilipbhai Trivedi
(Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.54
|
0.34 |
(4.90) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.61
|
0.93 |
(4.77) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.90
|
1.10 |
(5.72) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.06 |
(0.31) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.32
|
4.44 |
4.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.57
|
3.02 |
5.86 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm for last three years |
Yes |
|
12) Profitability
for last three years |
Yes |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of sister
concerns |
No |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
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 |
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 |
FIXED ASSETS:
v
Computer
v Cylinder
v Weighing Scale
v Electrical Installation
v Furniture and Fixture
v Plant and Machinery
v Office Equipment
v Rubber Roller
v Motor Car
v
Floor Crane
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 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.55.60 |
|
|
1 |
Rs.87.34 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--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 |
NO |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.