MIRA
INFORM REPORT
|
Report Date : |
09.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHREE AMBICA INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
Block No.91, N.H. No.8, At Amboli, PO – Kathor, Taluka – Kamrej, Surat
– 394 150, Gujarat. |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
23.11.2009 |
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Com. Reg. No.: |
04-058675 |
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Capital
Investment / Paid-up Capital : |
Rs.40.000 Million |
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CIN No.: [Company Identification
No.] |
U25202GJ2009PTC058675 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS10725B |
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PAN No.: [Permanent Account No.] |
AANCS5949Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Valve Bags, Sand Bags, HDPE Woven Bags and
Wide Round Woven Fabrics etc. |
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|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (20) |
|
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 |
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Status : |
Recently commence business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 2009, it has started
its commercial business activities from April, 2011. The company expects a
sizeable turnover in its first year of operation. Trade relations are reported as fair. Business is active. Payments are
unknown. 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Deval Modi |
|
Designation : |
Director |
|
Contact No.: |
91-9898347272 |
|
Date : |
21.02.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Block No.91, N.H. No.8, At Amboli, PO – Kathor, Taluka – Kamrej, Surat
– 394 150, Gujarat, India. |
|
Tel. No.: |
91-2621-256271/ 256771/ 257376 |
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Mobile No.: |
91-9898347272 (Mr. Deval Modi) |
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Fax No.: |
91-2621-256286 |
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E-Mail : |
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Website : |
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Area : |
5000 sq ft. |
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Location : |
Owned |
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Branches : |
Mahendra Complex, |
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Tel. No.: |
91-261-256271, 256771, 257376 |
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Fax No.: |
91-261-256286 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Deval Kanaiyalal Modi |
|
Designation : |
Director |
|
Address : |
Shree Ambica Sadan, At and P.O. Kholvad, Kamrej, |
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Date of Birth/Age : |
10.10.1985 |
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Date of Appointment : |
23.11.2009 |
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DIN No.: |
02777291 |
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|
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|
Name : |
Mr. Nitesh Shraddhanand Modi |
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Designation : |
Director |
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Address : |
Ambica Sadan, PO. Kholvad Ta, Kamrej Dist., Surat – 394 190, Gujarat,
India |
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Date of Birth/Age : |
07.05.1974 |
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Date of Appointment : |
23.11.2009 |
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DIN No.: |
02777425 |
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Name : |
Mr. Samir Rajendrabhai Modi |
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Designation : |
Director |
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Address : |
Opp. Zimkhana, At Kholvad, Kamrej Dist., Surat – 394 190, Gujarat,
India |
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Date of Birth/Age : |
20.07.1973 |
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Date of Appointment : |
23.11.2009 |
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DIN No.: |
02777352 |
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|
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Name : |
Mr. Satyam Yagnanand Modi |
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Designation : |
Director |
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Address : |
Ambica Sadan, Kholvad, Kamrej, Surat – 394 190, Gujarat, India |
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Date of Birth/Age : |
22.07.1978 |
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Date of Appointment : |
23.11.2009 |
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DIN No.: |
02788392 |
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|
Name : |
Mr. Maheshkumar Vinodray Modi |
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Designation : |
Director |
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Address : |
Ambica Sadan, At Post Kholvad, Kamrej, Surat – 394 190, Gujarat, India
|
|
Date of Birth/Age : |
06.02.1958 |
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Date of Appointment : |
28.11.2009 |
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DIN No.: |
02857249 |
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|
|
|
Name : |
Mr. Saileshkumar Vinodray Modi |
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Designation : |
Director |
|
Address : |
Ambica Sadan, At Post Kholvad, Kamrej, Surat – 394 190, Gujarat, India
|
|
Date of Birth/Age : |
19.06.1965 |
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Date of Appointment : |
28.11.2009 |
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DIN No.: |
02857267 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Deval Kanaiyalal Modi |
400000 |
|
Samir Rajendrabhai Modi |
400000 |
|
Nitesh Shraddhanand Modi |
400000 |
|
Satyam Yagnanand Modi |
400000 |
|
Shailesh Vinodray Modi |
400000 |
|
Maheshkumar Vinodray Modi |
400000 |
|
Dayal Govind |
400000 |
|
Sanjay Dayal Govind |
400000 |
|
Veenesh Dayal Govind |
400000 |
|
Jithen Dayal Govind |
400000 |
|
Total |
4000000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
60.00 |
|
Other top fifty shareholders |
40.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Valve Bags, Sand Bags, HDPE Woven Bags and
Wide Round Woven Fabrics etc. |
|
|
|
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Products : |
·
Tarpaulin
and Plastic Sheeting ·
Flexible
Intermediate Bulk Container ·
Polypropylene
Fabrics ·
Circular Woven Fabrics, Coated and
Uncoated (Narrow width) ·
Wide Round-Woven Fabrics Coated and
Uncoated ·
Flat Woven Fabrics Coated and
Uncoated ·
Polypropylene
Bags ·
Laminated/Unlamented PP/HDPE Woven Bags ·
PP/HDPE Woven Bags and Sacks
with/without Liner ·
Sand Bags ·
Valve Bags ·
Gusseted Bags |
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Terms : |
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Selling : |
Cash / Credit (30days) |
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Purchasing : |
Cash / Credit (30days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End users |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Dena Bank, Kholvad Branch, Kamrej Taluka, Surat -394190, Gujarat,
India. |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jayraj Naik and company Chartered Accountant |
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Address : |
JMN House, Opp. Bombay House, Asha Nagar, Navsari-396445, Gujarat,
India. |
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Tel. No.: |
91-2637-250232/ 247402 |
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Email: |
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PAN.: |
AAFPN6954R |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
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|
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|
|
1] Share Capital |
|
0.150 |
0.150 |
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2] Share Application Money |
|
9.726 |
1.268 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
9.876 |
1.418 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
12.000 |
0.000 |
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TOTAL BORROWING |
|
12.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
21.876 |
1.418 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
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Capital work-in-progress |
|
16.287 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
0.000 |
0.000 |
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Sundry Debtors |
|
0.000 |
0.000 |
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Cash & Bank Balances |
|
1.377 |
1.324 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
4.262 |
0.025 |
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Total
Current Assets |
|
5.639 |
1.349 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
|
0.670 |
0.000 |
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Other Current Liabilities |
|
0.000 |
0.000 |
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|
Provisions |
|
0.282 |
0.000 |
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Total
Current Liabilities |
|
0.952 |
0.000 |
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Net Current Assets |
|
4.687 |
1.349 |
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MISCELLANEOUS EXPENSES |
|
0.224 |
0.054 |
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Revenue Expenditure during construction period |
|
0.678 |
0.015 |
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TOTAL |
|
21.876 |
1.418 |
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Expected Sales (2011-2012): Rs. 100.000 Million
The above information has been parted by. Mr. Deval
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.31 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
|
5.92 |
0.00 |
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
-- |
|
12) Profitability for last three years |
-- |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
-- |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
-- |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
PERFORMANCE:
The company has started construction of its factory building during end of
2010.
FUTURE OUTLOOK:
Director believes that the company will be able to commence construction
of building for new project of manufacturing of packaging material.
FORM 8:
|
Corporate identity number of the company |
U25202GJ2009PTC058675 |
|
Name of the company |
SHREE AMBICA
INDUSTRIES PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Block No.91,
N.H. No.8, At Amboli, PO – Kathor, Taluka – Kamrej, Surat – 394 150 ,
Gujarat. Email- rbksurat@gmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) |
|
Particular of charge holder |
Dena Bank, Kholvad
Branch, Kamrej Taluka, Surat-394190, Gujarat, India. Email- kholva@denabank.co.in |
|
Nature of instrument creating charge |
Agreement of
Hypothecation (goods, book debts and other movable assets to secure multiple
facilities) |
|
Date of instrument Creating the charge |
01.06.2011 |
|
Amount secured by the charge |
Rs. 47.500
Million |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Term loan Rs. 42.500 Million 16.50% p.a. Cash credit Rs. 5.000 million 15.50% p.a. Terms of Repayment Term loan Rs.
42.500 Million 72 monthly
installment of Rs. 0.590 Million each excluding 6 months moratorium Cash credit Rs. 5.000 Million on demand Margin Term loan Rs. 42.500 million 25% Cash credit Rs. 50.00 Million 25% Extent and Operation of the charge The charge would be first and exclusive charge
by way of hypothecation of stock, book debts and plant & machinery etc.
of the company |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Hypothecation of
stock, book debts and plant & machinery etc. of the company |
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.50.57 |
|
|
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.66.49 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
20 |
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.