MIRA INFORM REPORT
|
Report Date : |
27.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
CONSOLIDATED CARPET INDUSTRIES LIMITED |
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Registered Office : |
4 – A, 1st Floor, Adhchini, Sri Aurobindo Marg,
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
01.09.1994 |
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Com. Reg. No.: |
55-061199 |
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Capital
Investment / Paid-up Capital : |
Rs. 20.000 Millions |
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CIN No.: [Company
Identification No.] |
U74899DL1994PLC061199 |
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Legal Form : |
A Closely
Held Public Limited Liability Company.
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of all types
of Carpets mostly Hand Made, Hand Tufed and Hand Hooked. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 460000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track records. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Head Office : |
4 – A, 1st Floor, Adhchini, Sri Aurobindo Marg,
|
|
Tel. No.: |
91-11-26965469 / 26965470 / 26564648 / 51681092 / 40697000 |
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Fax No.: |
91-11-26564665 / 40697021 / 40697028 |
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E-Mail : |
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Website : |
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Factory : |
Located at :- Jonapur, |
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Branches : |
Located at :-
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DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Anil Kumar Sodhani |
|
Designation : |
Managing Director |
|
Address : |
23 Anand Lok, |
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Date of Birth/Age : |
13.08.1947 |
|
Date of Appointment : |
01.09.1994 |
|
DIN No.: |
00023062 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1994PLC061199 |
CONSOLIDATED
CARPET INDUSTRIES LIMITED |
Managing
director |
01-09-94 |
01-09-94 |
- |
Active |
NO |
|
2 |
U70101DL1997PTC090437 |
SWAGAT
FARMS PRIVATE LIMITED |
Director |
14-05-00 |
14-05-00 |
- |
Active |
NO |
|
3 |
U45201DL2003PTC121708 |
PAWANPUTRA
ESTATES PRIVATE LIMITED |
Director |
08-08-03 |
08-08-03 |
19-05-08 |
Active |
NO |
|
4 |
U45201DL2003PTC121707 |
SAPTARANG
ESTATES PRIVATE LIMITED |
Director |
08-08-03 |
08-08-03 |
- |
Active |
NO |
|
5 |
U74899DL2006PTC144457 |
ELEMENTION
HEALTH & SPORT PRIVATE LIMITED |
Director |
04-01-06 |
04-01-06 |
- |
Active |
NO |
|
6 |
U51909DL2006PTC147229 |
PALM
BUSINESS VENTURES PRIVATE LIMITED |
Director |
08-03-06 |
08-03-06 |
- |
Active |
NO |
|
Name : |
Mr. Dhruv Sodhani |
|
Designation : |
Director |
|
Address : |
23 Anand Lok, |
|
Date of Birth/Age : |
29.08.1971 |
|
Date of Appointment : |
01.09.1994 |
|
DIN No.: |
00023095 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1994PLC061199 |
CONSOLIDATED
CARPET INDUSTRIES LIMITED |
Director |
01-09-94 |
01-09-94 |
Active |
NO |
|
2 |
U45201DL2003PTC121707 |
SAPTARANG
ESTATES PRIVATE LIMITED |
Director |
08-08-03 |
08-08-03 |
Active |
NO |
|
3 |
U51909DL2006PTC147229 |
PALM
BUSINESS VENTURES PRIVATE LIMITED |
Director |
08-03-06 |
08-03-06 |
Active |
NO |
|
Name : |
Mr. Vidur Sodhani |
|
Designation : |
Director |
|
Address : |
23 Anand Lok, |
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Date of Birth/Age : |
18.11.1974 |
|
Date of Appointment : |
01.10.2005 |
|
DIN No.: |
00023298 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1994PLC061199 |
CONSOLIDATED
CARPET INDUSTRIES LIMITED |
Director |
01-10-05 |
01-10-05 |
- |
Active |
NO |
|
2 |
U45201DL2003PTC121708 |
PAWANPUTRA
ESTATES PRIVATE LIMITED |
Director |
06-12-05 |
06-12-05 |
19-05-08 |
Active |
NO |
|
3 |
U74899DL2006PTC144457 |
ELEMENTION
HEALTH & SPORT PRIVATE LIMITED |
Managing
director |
24-05-07 |
04-01-06 |
- |
Active |
NO |
|
4 |
U51909DL2006PTC147229 |
PALM
BUSINESS VENTURES PRIVATE LIMITED |
Director |
08-03-06 |
08-03-06 |
- |
Active |
NO |
|
Name : |
Ms. Ekta Sodhani |
|
Designation : |
Director |
|
Address : |
23 Anand Lok, |
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Date of Birth/Age : |
12.11.1974 |
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Date of Appointment : |
16.05.2008 |
|
DIN No.: |
02197885 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Anil Kumar Sodhani |
629940 |
|
Rama Sodhani |
10 |
|
Ekta Sodhani |
10 |
|
Dhruv Sodhani |
425010 |
|
Vidur Sodhani |
369510 |
|
Kedar Mal Sharma |
10 |
|
Chander Shekhar Gupta |
10 |
|
Anil Kumar Sodhani |
345300 |
|
Dhruv Sodhani |
115100 |
|
Vidur Sodhani |
115100 |
|
Total
|
2000000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Exporter and Importer of all types of
Carpets mostly Hand Made, Hand Tufed and Hand Hooked. |
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Products : |
·
FloorMaster
Entrance Systems |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sanjiv Aggarwal Chartered Accountants |
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Address : |
3 / 7 B Asaf Ali Road, 1st Floor, Flat No. 4,
New Delhi - 110 002, India. |
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Tel. No.: |
91-11-23271407 / 23284825 / 23284826 |
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Fax No.: |
91-11-23270362 |
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E-Mail : |
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PAN No.: |
AACPA0255D |
CAPITAL STRUCTURE
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 |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
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|
|
|
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 |
|
|
|
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|
1] Share Capital |
20.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
96.078 |
90.419 |
84.919 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
116.078 |
110.419 |
104.919 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
53.620 |
33.495 |
46.566 |
|
|
2] Unsecured Loans |
5.000 |
10.000 |
10.000 |
|
|
TOTAL BORROWING |
58.620 |
43.495 |
56.566 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
174.698 |
153.914 |
161.485 |
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|
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|
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
33.188 |
28.301 |
30.166 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
INVESTMENT |
1.000 |
1.182 |
3.644 |
|
|
DEFERREX TAX ASSETS |
0.631 |
0.812 |
0.583 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
77.290
|
62.235
|
59.101
|
|
|
Sundry Debtors |
71.546
|
61.771
|
72.312
|
|
|
Cash & Bank Balances |
5.610
|
6.261
|
1.890
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
32.594
|
32.283
|
24.744
|
|
Total
Current Assets |
187.040
|
162.550 |
158.047 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
25.315
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
2.675
|
3.100
|
5.640
|
|
Total
Current Liabilities |
47.161
|
38.931 |
30.955 |
|
|
Net Current Assets |
139.879
|
123.619
|
127.092
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
174.698 |
153.914 |
161.485 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
213.413 |
196.480 |
162.591 |
|
|
|
Other Income |
28.863 |
19.271 |
17.868 |
|
|
|
TOTAL (A) |
242.276 |
215.751 |
180.459 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
173.929 |
142.166 |
124.154 |
|
|
|
Employees |
17.946 |
15.999 |
13.922 |
|
|
|
Selling and Distribution Expenses |
12.920 |
14.339 |
10.949 |
|
|
|
Other Expenses |
35.327 |
6.586 |
4.700 |
|
|
|
Increase / (Decrease) in stock |
(15.054) |
(3.134) |
(11.382) |
|
|
|
TOTAL (B) |
225.068 |
175.956 |
142.343 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
17.208 |
39.795 |
38.116 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.127 |
28.450 |
19.954 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.081 |
11.345 |
18.162 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.579 |
2.985 |
2.970 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.502 |
8.360 |
15.192 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.843 |
2.860 |
5.940 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.659 |
5.500 |
9.252 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
90.419 |
84.919 |
75.667 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
96.078 |
90.419 |
84.919 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.83 |
2.75 |
4.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.34
|
2.55 |
5.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.98
|
4.25 |
9.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.85
|
4.38 |
8.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.08 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.91
|
0.75 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.97
|
4.18 |
5.11 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION
During the year, the company has achieved a Turnover and Miscellaneous
Income of Rs. 242.275 Millions as compared to Rs. 215.751 Millions in the
previous year.
FORM 8
|
Corporate
identity number of the company |
U74899DL1994PLC061199 |
|
Name of the company
|
CONSOLIDATED
CARPET INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
4-A Ist Floor
Adhchini, Sri Aurobindo Marg, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
Bank of India, Khan Market Branch, 32-33, Raja Gyan Naye
Building, Khan Market, New Delhi – 110003, India. |
|
Nature of
instrument creating charge |
Deed Of Guarantee |
|
Date of
instrument Creating the charge |
22.07.2011 |
|
Amount secured by
the charge |
Rs. 8.227
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of repayment On Demand Extent and operation of the charge First charge on
all the assets of the Company. Other The charge is
modified to reduce the sum secured from Rs.12.890 Millions to Rs.8.227
Millions to secure various Credit Facilities granted by the Bank to M/s.
Elemention Health And Sport Private Limited in favour of which M/s.
Consolidated Carpet Industries Limited has provided its guarantee. |
|
Short particulars
of the property charged (Including location of the property) |
Corporate
Guarantee |
|
Charge
identification number of the charge to be modified |
10286452 |
|
Particulars of
the present modification |
The amount
secured by the charge stands reduced from Rs.12.890 Millions to Rs.8.227
Millions to secure various Credit Facilities granted by the Bank to M/s.
Elemention Health And Sport Private Limited in favour of which M/s.
Consolidated Carpet Industries Limited has provided its guarantee. |
Fixed Assets
- Land
- Building
- Furniture and
Fixture
- Office
Equipments
- Computer
- Vehicles
- Farm Shed and
Building
- Farm
Equipments
WEBSITE DETAILS:
PROFILE:
Subject, a company driven by conviction and excellence, brings to you some of the
finest floor coverings from all over the world.
Subject offers a kaleidoscopic range of Floorings suitable for residential,
hospitality and commercial applications.
Their qualified
and experienced sales team helps the client make an informed choice. Working
together as a team with a spirit of co-operation and efficient management, they
serve the needs of their clients through Subject's nationwide distribution network.
As direct importers and distributors, they
have an excellent support system to offer timely deliveries to various parts of
the country. A large, modern warehouse ensures availability of a wide selection
of stocks for immediate installation. A team of experienced and committed
installers help provide quality installations as well as after sales service.
Today, subject exclusively represents some of
the world's leading manufacturers to give you unlimited choices sealed with
world class quality. Together they work to achieve a common goal of customer
satisfaction through professionalism and integrity.
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] 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. 51.30 |
|
|
1 |
Rs. 81.36 |
|
Euro |
1 |
Rs. 67.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.