1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Induro Lifestyle Resources Private Limited |
Principal Name 1 |
Mr. Kishan Kumar |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Panna Devi Kishan Jain |
|
|
|
Registration # |
08-045155 |
|
Street Address |
#93/1-2, Singasandra, Hosur Highway, Bangalore – 560068, Karnataka,
India |
||
|
Established Date |
04.02.2008 |
SIC Code |
-- |
|
Telephone# |
91-80-40876000/ 41119970 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-40876002/ 41119973 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Readymade Garments |
|
# of employees |
500
(Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.15,500,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors – 99.99%, Other top
fifty shareholders- 0.01% |
Banking |
Axis Bank |
|
Public Limited Corp. |
No |
Business Period |
4 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
57,408,000 |
Current Liabilities |
44,808,000 |
|
Inventories |
31,650,000 |
Long-term Liabilities |
34,800,000 |
|
Fixed Assets |
11,247,000 |
Other Liabilities |
5,721,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
85,329,000 |
|
Invest& other Assets |
186,000 |
Retained Earnings |
0,000 |
|
|
|
Net Worth |
15,162,000 |
|
Total Assets |
100,491,000 |
Total Liab. & Equity |
100,491,000 |
|
Total Assets (Previous Year) |
41,351,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
211,548,000 |
Net Profit |
10,415,000 |
|
Sales(Previous yr) |
94,727,000 |
Net Profit(Prev.yr) |
1,826,000 |
|
Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDURO LIFESTYLE RESOURCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
#93/1-2, Singasandra, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
04.02.2008 |
|
|
|
|
Com. Reg. No.: |
08-045155 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120KA2008PTC045155 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRI03313C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Readymade Garments. |
|
|
|
|
No. of Employees
: |
500 (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 61000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The appears
some accumulated losses recorded by the company. 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.
|
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 |
LOCATIONS
|
Registered Office : |
#93/1-2, Singasandra, |
|
Tel. No.: |
91-80-40876000/ 41119970 |
|
Fax No.: |
91-80-40876002/ 41119973 |
|
E-Mail : |
|
|
Area : |
50000sq.fts |
|
Location : |
Owned |
|
|
|
|
Factory : |
No.179-182, 4th Cross, K S Gardense, Lal Bagh Road,
Bangalore – 560027, Karnataka, India |
|
Tel. No.: |
91-80-41119971/ 22291731/ 243038/ 22226704/ 22227275 |
|
Fax No.: |
91-80-41119972/ 22291731 |
|
Location : |
Owned |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Kishan Kumar |
|
Designation : |
Managing Director |
|
Address : |
E-401, Jacaranda Block, Brigade Millenium, J. P. Nagar, 6th Phase, Bangalore – 560078,
Karnataka, India |
|
Date of Birth/Age : |
05.07.1970 |
|
Date of Appointment : |
04.02.2008 |
|
DIN No.: |
01667685 |
|
|
|
|
Name : |
Mrs. Panna Devi Kishan Jain |
|
Designation : |
Director |
|
Address : |
E-401, Jacaranda Block, Brigade Millenium, J. P. Nagar, 6th Phase, Bangalore – 560078,
Karnataka, India |
|
Date of Birth/Age : |
30.07.1972 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02479269 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Kishan Kumar |
|
927491 |
|
Panna Devi Kishan Jain |
|
822500 |
|
Jyotsna P Kalro |
|
1 |
|
Kishoribai Ramchand |
|
1 |
|
Kiran Suresh Kumar |
|
1 |
|
Sanjay Kumar Ramchand |
|
1 |
|
Prerana V Chhabria |
|
1 |
|
Bansilal M Nagpal |
|
1 |
|
Billions Business Solutions, India - Prop. Gautham K. Kalro |
|
1 |
|
Kishore J Kalra Huf |
|
1 |
|
Suresh Kumar Ramchand |
|
1 |
|
|
|
|
|
Total |
|
1750000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
99.99 |
|
Other top fifty shareholders |
|
0.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Readymade Garments. |
GENERAL INFORMATION
|
Suppliers : |
· Arvind Fashion limited · Chaithanya Wash Tech – Bangalore · D V A Designs Bangalore · Katado Fashions Private Limited · Sahana Logistics Private Limited – Bangalore · Sapthagiri Sewing Machine · Vintage Computers Services · Syncolite (India) Private Limited – Bangalore · Venkateshwara industries |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Bankers : |
·
Axis Bank ·
HDFC Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
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Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
· Electronica Finance Limited 128/A, Plot No.3, Kailashchandra Apartment, Paud road, Kothrud, Pune – 411038, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
AVT and Associates Chartered Accountant |
|
Address : |
63/2, 2nd Floor, Railway Parallel Road, Above Canara Bank, Kumara
Park West, Bangalore – 560020, Karnataka, India |
|
Tel No.: |
91-80-23562863/ 23464314 |
|
PAN No.: |
AAMFA3634J |
|
Email : |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1750000 |
Equity Share |
Rs.10/- each |
Rs.17.500
Millions |
|
|
|
|
|
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1550000 |
Equity Share |
Rs.10/- each |
Rs.15.500
Millions |
|
|
|
|
|
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 |
15.500 |
1.500 |
1.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.338) |
(10.752) |
(12.578) |
|
|
NETWORTH |
15.162 |
(9.252) |
(11.078) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
32.400 |
38.483 |
38.858 |
|
|
2] Unsecured Loans |
2.400 |
0.000 |
0.140 |
|
|
TOTAL BORROWING |
34.800 |
38.483 |
38.998 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
49.962 |
29.231 |
27.920 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.247 |
8.571 |
10.312 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.650
|
16.253 |
20.837 |
|
|
Sundry Debtors |
31.257
|
10.556 |
8.153 |
|
|
Cash & Bank Balances |
1.511
|
1.991 |
0.498 |
|
|
Other Current Assets |
14.315
|
1.865 |
0.015 |
|
|
Loans & Advances |
10.325
|
1.837 |
2.513 |
|
Total
Current Assets |
89.058
|
32.502 |
32.016 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
41.258
|
9.045 |
12.286 |
|
|
Other Current Liabilities |
3.550
|
1.228 |
0.427 |
|
|
Provisions |
5.721
|
1.846 |
2.065 |
|
Total
Current Liabilities |
50.529
|
12.119 |
14.778 |
|
|
Net Current Assets |
38.529
|
20.383 |
17.238 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.186 |
0.277 |
0.370 |
|
|
|
|
|
|
|
|
TOTAL |
49.962 |
29.231 |
27.920 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
211.548 |
94.727 |
77.870 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
197.258 |
91.234 |
89.073 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.290 |
3.493 |
(11.203) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.875 |
1.567 |
1.375 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
12.415 |
1.926 |
(12.578) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.000 |
0.100 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
10.415 |
1.826 |
(12.578) |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
6.72 |
12.17 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.92
|
1.93 |
(16.15) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.38
|
4.69 |
(29.72) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.82
|
(0.21) |
1.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.63
|
(5.47) |
(4.85) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76
|
2.68 |
2.17 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate
identity number of the company |
U17120KA2008PTC045155 |
|
Name of the
company |
Induro Lifestyle
Resources Private Limited |
|
Address of the
registered office or of the principal place of business in |
# 93/1-2,
Singasandra Hosur Highway, Bangalore – 560068, Karnataka, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Electronica
Finance Limited 128/A, Plot No.3,
Kailashchandra Appartments, Paud Road, Kothrud, Pune – 411038, Maharashtra,
India |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation dated, 25th May 2010. |
|
Date of
instrument Creating the charge |
25.05.2010 |
|
Amount secured by
the charge |
Rs.0.930 Million |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest 14.50% p. a Terms of
Repayment 24 Monthly
Instalments Margin NA Extent and Operation
of the charge First Charge |
|
Short particulars
of the property charged |
200 KVA DG Set,
Mahindra Make Model 62805 GC located at, # 93/1-2,Singasandra, Hosur Highway,
Bangalore 560068. |
FIXED ASSETS:
· Computer and Software
· Electricals Installations
· Furniture and Furniture
· Motor Car
· Plant and Machinery
· Generator
· Office Equipment
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.50.31 |
|
|
1 |
Rs.79.05 |
|
Euro |
1 |
Rs.65.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
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.