BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
AG GRANITES
PRIVATE LIMITED |
Principal Name 1 |
MR. MUTHUGOUNDER RAMASAMY |
|
Status |
GOOD |
Principal Name 2 |
MRS. SHANTHI RAMASAMY |
|
|
|
Registration # |
18-010232 |
|
Street Address |
SF NO.314, MUTHUGOUNDER COLONY, HARUR,
DHARMAPURI DISTRICT – 636 903, TAMILNADU |
||
|
Established Date |
04.08.1998 |
SIC Code |
-- |
|
Telephone# |
91-4346-222555/
222666 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
91-4346-222666 |
Business Style 2 |
EXPORTER |
|
Homepage |
Product Name 1 |
GRANITES |
|
|
# of employees |
NOT AVAILABLE |
Product Name 2 |
MONUMENT BLOCKS |
|
Paid up capital |
RS.45,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
DIRECTORS OR RELATIVES
OF DIRECTORS – 100% |
Banking |
STATE BANK OF |
|
Public Limited Corp. |
NO |
Business Period |
14 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
A (57) |
|
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 |
213,217,000
|
Current Liabilities |
9,995,000
|
|
Inventories |
111,124,000 |
Long-term Liabilities |
191,754,000 |
|
Fixed Assets |
107,703,000 |
Other Liabilities |
9,649,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
211,398,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
175,646,000 |
|
|
|
Net Worth |
220,646,000 |
|
Total Assets |
432,044,000 |
Total Liab. & Equity |
432,044,000 |
|
Total Assets (Previous Year) |
421,102,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Total Income |
370,260,000 |
Net Profit |
11,777,000 |
|
Total Income (Previous year) |
397,639,000 |
Net Profit
(Previous year) |
46,331,000 |
MIRA
INFORM REPORT
|
Report Date : |
27.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
AG GRANITES
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
SF No.314,
Muthugounder Colony, Harur, Dharmapuri District – 636 903, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
04.08.1998 |
|
|
|
|
Com. Reg. No.: |
18-010232 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.45.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14102TZ1998PTC010232 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA10474C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA8182H |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and
Exporter of Granites Cuts and Polished, Monument Blocks. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 883000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and a reputed company having fine track. Financial position of the
company appears to be sound. Trade relations are reported as fair. Business
is active. Payments are reported to be regular and as per commitments. The company can
be considered normal for business dealings at usual 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office : |
SF No.314,
Muthugounder Colony, Harur, Dharmapuri District – 636 903, |
|
Tel. No.: |
91-4346-222555/
222666 |
|
Fax No.: |
91-4346-222666 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Leased |
|
|
|
|
Mines : |
Dharampuri District, Near |
|
|
|
|
Corporate Office/ Administration Office : |
Flat 2AB, 4th Block, Kences
Enclave , 1, |
|
Tel. No.: |
91-44-28142333/ 28140999 |
|
Fax No.: |
91-44-28140896 |
|
Email: |
|
|
Area : |
Rented |
|
|
|
|
Factory (Harur) : |
M.G. Colony, Harur, Dharmapuri District - 636 903, |
|
Tel. No.: |
91-4346-223999/ 222555/ 222266 |
|
Fax No.: |
91-4346-222666 |
|
Email: |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Muthugounder Ramasamy |
||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||
|
Address : |
M.G. Colony, Harur, Dharmapuri District – 636 903, |
||||||||||||||||||||||||
|
Date of Birth
: |
04.11.1954 |
||||||||||||||||||||||||
|
Date of
Appointment : |
04.08.1998 |
||||||||||||||||||||||||
|
00573855 |
|||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mrs. Shanthi Ramasamy |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
M.G. Colony, Harur, Dharmapuri District – 636 903, |
||||||||||||||||||||||||
|
Date of Birth
: |
19.01.1964 |
||||||||||||||||||||||||
|
Date of
Appointment : |
04.08.1998 |
||||||||||||||||||||||||
|
DIN No.: |
00573866 |
||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||
MAJOR SHAREHOLDERS
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
M. Ramasamy |
|
2700000 |
|
Shanti Ramasamy |
|
1800000 |
|
Total |
|
4500000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter
of Granites Cuts and Polished, Monument Blocks. |
|
|
|
|
Products : |
v Granite Slabs v Stones v Marbles v Granite Monuments v Granite Sculbotors v Granites |
GENERAL INFORMATION
|
Suppliers : |
v
SNI Stone Tech v
Metcons Engineering Private Limited v
AFL Dachser Private Limited v
Aqua and Arthropods Pest Control Private Limited v
CMA CGM Agencies India Private Limited v
Noble Shipping and Logistics Private Limited v
T.A. Ratnasabhapathi Chettiar Agencies Private
Limited v
Geodis Overseas Private Limited v
LCL Logistics India Private Limited v
Weiss Rohig India Private Limited v
Cadent Info Systems v
Dunite Rocks Private Limited v
Elan Unit of Til Export Private Limited v
ICRA Limited v
Kurinji Associates v
Pon Gokulam Granites v
Sri Prabu Videos v
Rainbow Transport v
Sri Bhavani Transport |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Customers : |
v
Env-Ena Naturstein Handel-Germany v
Granitwerke Vates GmbH and Company KG – v
Heinz Naturstein Handel- v
v
Norsk Naturstein As – v
Roll Naturstein – v
Natursteine Dassel GmbH I.G-Germany v
Westfalische Marmor-Und- v
OGF Siege Social v
Konark Impex |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
v
State
Bank of v
ICICI
Bank v
HDFC
Bank v
Indian Bank v
IndusInd Bank, Chennai v
IndusInd Bank, Dharmapuri |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K.E. Sridharan and Company Chartered
Accountants |
|
Address : |
No.10, GA Jains
Anasvara Apartments, |
|
Income-tax
PAN of auditor or auditor's firm : |
ABHPS7393G |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs.50.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4,500,000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 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 |
45.000 |
45.000 |
45.000 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
175.646 |
172.868 |
137.145 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
220.646 |
217.868 |
182.145 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
191.754 |
188.808 |
120.679 |
|
|
2] Unsecured
Loans |
0.000 |
0.000 |
0.000 |
|
TOTAL BORROWING
|
191.754 |
188.808 |
120.679 |
|
|
DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
412.400 |
406.676 |
302.824 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
107.703 |
109.509 |
89.652 |
|
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
|
111.124 |
78.597 |
95.860 |
|
|
Sundry Debtors
|
110.088 |
146.225 |
84.153 |
|
|
Cash & Bank Balances
|
16.006
|
19.856
|
16.640
|
|
|
Other Current Assets
|
0.000
|
9.458
|
2.592
|
|
|
Loans & Advances
|
87.123
|
57.457
|
33.368
|
Total Current Assets
|
324.341
|
311.593
|
232.613
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Sundry Creditors
|
9.995
|
13.595
|
19.057 |
|
|
Other Current Liabilities
|
0.000
|
0.000
|
0.000
|
|
|
Provisions
|
9.649
|
0.831
|
0.384
|
Total Current Liabilities
|
19.644
|
14.426
|
19.441 |
|
Net Current Assets
|
304.697
|
297.167
|
213.172 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
412.400 |
406.676 |
302.824 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
|
Income |
370.260 |
397.639 |
278.043 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
370.260 |
397.639 |
278.043 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
344.496 |
350.476 |
250.820 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
344.496 |
350.476 |
250.820 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
25.764 |
47.163 |
27.223 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.987 |
0.832 |
0.384 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
11.777 |
46.331 |
26.839 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.00 |
10.00 |
6.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.18
|
11.65 |
9.65
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.96
|
11.20 |
8.45
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.22 |
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.96
|
0.93 |
0.77
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
16.51
|
21.60 |
11.97 |
LOCAL AGENCY FURTHER INFORMATION
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2011 (Rs.
in millions) |
|
i) Bank guarantees |
5.987 |
|
ii) Letters of Credit |
4.233 |
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90000994 |
|
Corporate
identity number of the company |
U14102TZ1998PTC010232 |
|
Name of the
company |
AG GRANITES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
SF No.314,
Muthugounder Colony, Harur, Dharmapuri – 636 903, |
|
Type of charge |
Immovable
property Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of E-mail - mahendiran56@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
1. Supplemental
Agreement of hypothecation of Goods and Assets for Increase in the Overall
Limit. Form C-2-A 2. Supplemental Agreement
of Hypothecation of Goods and Assets for Increase in the Overall Limit.
Form-C-5 3. Letter
regarding the Grant of Individual Limits within the Overall Limit. Form C-5 4. EM
confirmation letters (2 Nos.) |
|
Date of instrument
Creating the charge |
25.03.2010 |
|
Amount secured by
the charge |
Rs.219.600
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- As mentioned in the Attachment Terms of
Repayment – Working Capital:
Repayable on Demand. Term Loan: Repayable in 36 installments. First 35
installments of Rs.0.767 million each and the 36th installment of
Rs.0.670 million commencing from July 2009 to June 2012 Margin – EPC-Stock of RM,
WIP, FG, Spares, Stores etc., : 25% BG (WC)
: 25% for disputed liability 100% LC (WC)
: 25% TL : 30% Extent and
Operation of the charge - The Lease Hold Right of the immovable properties of
the Company, shall also to secure the Credit Facilities to an extent of
Rs.124.000 million granted to M/s Amman Granites, the details of which are
given by way of Attachment. Others -
Facilities Rs. in millions EPC 60.00 Standby
limit 18.00 FDB Non LC 90.00 FBD LC 15.00 Term Loan 26.60 LC 07.00 BG 03.00
-------- Total 219.60 |
|
Short particulars
of the property charged |
The existing charge
on the entire Current Assets such as Stocks of RM, SIP, FG, consumables,
spares, stores and other Current Assets belonging to the Company, shall
continue to secure and; The existing charge on the Plant and Machineries and
other movable assets belonging to the Company, shall continue and; Extension
of Equitable Mortgage over the Lease Hold Rights of the immovable properties
of the Company, more fully described in the "Attachment" shall
continue to secure the present limit. |
|
Date of latest modification
prior to the present modification |
06.06.2009 |
|
Particulars of
the present modification |
By the present
modification, the overall limit has been enhanced from Rs.182.500 million to
219.600 million and secured by the entire Current Assets, Plant &
Machineries, other Movable Assets and Lease Hold Rights of the immovable
properties belonging to the Company shall continue to secured the present
enhanced limit. |
FIXED ASSETS:
v
v Building WIP
v Plant and Machinery
v Furniture and Fittings
v Electrical Fittings
v Office Equipments
v Computer and Accessories
v Vehicles
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.51.31 |
|
|
1 |
Rs.81.37 |
|
Euro |
1 |
Rs.67.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
57 |
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.