MIRA
INFORM REPORT
|
Report Date : |
05.05.2012 |
IDENTIFICATION DETAILS
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Name : |
CLASSIC STRIPES PRIVATE LIMITED (w.e.f. 26.03.2010) |
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Formerly Known
As : |
CLASSIC STRIPES LIMITED |
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Registered
Office : |
164, Senapti Bapat Marg, Matunga (West), Mumbai – 400 016, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.09.1987 |
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Com. Reg. No.: |
11-044849 |
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Capital
Investment / Paid-up Capital : |
Rs.119.625 Millions |
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CIN No.: [Company Identification
No.] |
U74999MH1987PTC044849 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Automotive Graphic. |
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No. of Employees
: |
1600 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2750000 |
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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. Latest
financials are missing. But the previous years financials appears to be
satisfactory. 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Rajiv Krishna |
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Designation : |
Chief Executive officer |
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Contact No.: |
91-9987506527 |
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Date : |
04.05.2012 |
LOCATIONS
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Registered Office : |
164, Senapti Bapat Marg, Matunga (West), Mumbai – 400 016, |
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Tel. No.: |
91-22-24303826/ 24303853/ 8688/ 24328463/ 64 / 24211708/ 24365303/
24389550/ 66793500 |
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Fax No.: |
91-22-24308688/ 24303826/ 66793600 |
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E-Mail : |
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Website : |
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Corporate Office : |
Astarc House, 76/79 Makwana Lane, Takpada Off Andheri Kurla Road,
Marol, Andheri (East), Mumbai - 400 059, Maharashtra, India |
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Tel. No.: |
91-22-66793500 |
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Fax No.: |
91-22-66793600 |
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Factory : |
Located at: ·
Three Manufacturing Unit at Vasai, Thane,
Maharashtra, India ·
One Manufacturing Unit at Haridwar, Uttaranchal |
DIRECTORS
As on 11.08.2011
|
Name : |
Mr. Kishore Manohar Musale |
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Designation : |
Managing Director |
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Address : |
Astarc Bunglow, Survey No. 86, Sant Tukaram Marg, Juhu Tara Road,
Juhu, Vile Parle (West), Mumbai - 400049, Maharashtra, India |
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Date of Birth/Age : |
15.02.1954 |
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Date of Appointment : |
30.09.1987 |
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DIN No.: |
00144029 |
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Name : |
Mrs. Chhaya Kishore Musale |
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Designation : |
Director |
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Address : |
Astarc Bunglow, Survey No. 86, Sant Tukaram Marg, Juhu Tara Road, Juhu,
Vile Parle (West), Mumbai - 400049, Maharashtra, India |
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Date of Birth/Age : |
09.09.1955 |
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Date of Appointment : |
30.09.1987 |
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DIN No.: |
00640296 |
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Name : |
Mr. Bruno Seghin |
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Designation : |
Director |
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Address : |
Suite 2120, Pacific
Place, 88, Queens Way, Hong Kong, 200000 |
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Date of Birth/Age : |
07.05.1957 |
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Date of Appointment : |
29.03.2011 |
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DIN No.: |
00740866 |
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Name : |
Mr. Ashish Agrawal |
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Designation : |
Director |
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Address : |
601, Padma Prabhu
Apartments, 1174/1175, Veer Varkar, Marg, Dadar (West), Mumbai - 400028,
Maharashtra, India |
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Date of Birth/Age : |
26.06.1977 |
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Date of Appointment : |
29.03.2011 |
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DIN No.: |
02421421 |
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Name : |
Mr. Rudra Sachindra Nath Jogendra Nath |
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Designation : |
Director |
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Address : |
603 Tarang, 10
Carter Road Khar (West), Mumbai - 400052. Maharashtra, India |
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Date of Birth/Age : |
24.11.1971 |
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Date of Appointment : |
29.03.2011 |
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DIN No.: |
02647598 |
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Name : |
Mr. Salil Kishore Musale |
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Designation : |
Director |
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Address : |
Classic Strip
House, 76/79, Makwana Lane, Takpada, off Andheri Kurla Road, Marol Naka,
Andheri (East), Mumbai - 400059, Maharashtra, India |
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Date of Birth/Age : |
10.08.1983 |
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Date of Appointment : |
29.06.2011 |
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DIN No.: |
02698971 |
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Name : |
Mr. Jesal Nilesh Doshi |
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Designation : |
Director |
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Address : |
84, Duru Mahal, Marine Drive Road, Mumbai, Maharashtra, India |
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Date of Birth/Age : |
09.01.1984 |
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Date of Appointment : |
29.03.2011 |
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DIN No.: |
02963307 |
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KEY EXECUTIVES
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Name : |
Mr. Mangesh Mukund Deoka
Bhosale |
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Designation : |
Secretary |
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Address : |
A/24, Anjana C.H.S. Limited., Pestom Sagar Road No. 6, Chembur, Mumbai- 400089, Maharashtra,
India |
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Date of Birth/Age : |
25.12.1972 |
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Date of Appointment : |
27.09.2010 |
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Name : |
Mr. Rajiv Krishna |
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Designation : |
Chief Executive officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 11.08.2011
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Names of Shareholders |
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No. of Shares |
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Kishore Manohar Musale |
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2999726 |
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Chhaya Kishore Musale |
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1313583 |
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Manohar Musale Sail |
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750000 |
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Manohar Musale Sameer |
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750000 |
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Ulfat Rai Gupta |
|
234 |
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Ramaswamy Palghat Subramaniam |
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60051 |
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CSPL Holding private Limited, Mauritius |
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6088921 |
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CSPL Holding private Limited, Mauritius (Class A Shares) |
|
100000 |
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Total |
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12062515 |
Equity Share Break up (Percentage of Total Equity)
As on 11.08.2011
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Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
51.31 |
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Directors or relatives of Directors |
48.20 |
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Other top fifty shareholders |
0.49 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Automotive Graphic. |
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Products : |
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GENERAL INFORMATION
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Customers : |
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No. of Employees : |
1600 (Approximately) |
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Bankers : |
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(Rs.
In Millions) |
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Facilities : |
Note: a) Term loans from banks are secured by charge on respective assets and pari passu charge on all movable and immovable assets of the company. b) Vehicle loans are secured by hypothecation of the vehicles financed. c) Cash Credits are secured by hypothecation of current assets of the company and charge on some of the immovable properties of the company. d) Secured loans aggregating Rs. 1645.164 Millions (Previous year Rs. 738.765 Millions are additionally secured by personal guarantee from of the directors. e) Temporary overdraft form Choundeshwari Sahakari Bank Limited- Ichalkaranji was secured by the mark on FDR’s of Rs. 20.000 Millions during the year.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vilas K. Shah and Company Chartered Accountants |
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Address : |
DolBin-Shir, 4th Floor, 69/71, Janmabhoomi
Marg, Fort, Mumbai – 400 023, |
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Tel. No.: |
91-22-2873033/ 2835338 |
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Fax No.: |
91-22-2835338 |
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Pan No.: |
AAIPS3919C |
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CAPITAL STRUCTURE
As on 11.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
12,062,515 |
Equity Shares |
Rs.10/- each |
Rs.120.625 Millions |
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As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
11962515 |
Equity Shares |
Rs.10/- each |
Rs.119.625 Millions |
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Note:
- Of the above, 8235000 Shares were allotted as fully paid bonus share
by capitalization of General Reserves.
- 22515 Shares are allotted as full paid shares to the shareholders of
Forma Sports Private Limited (FSPL) pursuant to the scheme of arrangement
entered into between the company and FSPL of consideration other than
cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
119.625 |
119.400 |
119.400 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
569.382 |
391.717 |
286.462 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
689.007 |
511.117 |
405.862 |
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LOAN FUNDS |
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1] Secured Loans |
1581.434 |
769.695 |
736.240 |
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2] Unsecured Loans |
424.780 |
1033.790 |
142.825 |
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TOTAL BORROWING |
2006.214 |
1803.485 |
879.065 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2695.221 |
2314.602 |
1284.927 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1036.717 |
546.931 |
587.978 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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Capital Advances |
91.950 |
238.381 |
7.706 |
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INVESTMENT |
552.935 |
551.600 |
0.100 |
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DEFERREX TAX ASSETS |
6.826 |
7.092 |
3.651 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
239.004 |
187.076 |
146.786 |
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Sundry Debtors |
505.997 |
501.737 |
562.302 |
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Cash & Bank Balances |
28.536 |
36.630 |
50.737 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
977.470 |
749.002 |
444.206 |
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Total
Current Assets |
1751.007 |
1474.445 |
1204.031 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
394.960 |
200.810 |
139.938 |
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Other Current Liabilities |
19.541 |
16.536 |
16.082 |
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Provisions |
329.713 |
286.501 |
362.519 |
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Total
Current Liabilities |
744.214 |
503.847 |
518.539 |
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Net Current Assets |
1006.793 |
970.598 |
685.492 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2695.221 |
2314.602 |
1284.927 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
2126.945 |
1606.683 |
1840.157 |
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Other Income |
NA |
22.947 |
69.181 |
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TOTAL (A) |
NA |
1629.630 |
1909.338 |
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Less |
EXPENSES |
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Material Consumed |
|
698.547 |
630.141 |
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(Decrease)/ Increase in Stock |
|
(39.475) |
22.340 |
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Purchases Traded Goods |
|
11.059 |
16.225 |
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Employee Cost |
|
119.974 |
132.272 |
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Operating and Other Expenses |
|
418.781 |
294.706 |
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TOTAL (B) |
|
1208.886 |
1095.684 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
420.744 |
813.654 |
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Less |
FINANCIAL
EXPENSES (D) |
|
165.589 |
100.236 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
255.155 |
713.418 |
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Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
|
93.380 |
111.954 |
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PROFIT BEFORE
TAX (E-F) (G) |
215.907 |
161.775 |
601.464 |
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Less |
TAX (H) |
38.242 |
56.519 |
197.403 |
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PROFIT AFTER TAX
(G-H) (I) |
177.665 |
105.256 |
404.061 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
266.447 |
171.191 |
17.668 |
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Less |
APPROPRIATIONS |
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|
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|
Transfer to General Reserve |
10.000 |
10.000 |
41.000 |
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|
Interim Dividend |
0.000 |
0.000 |
179.100 |
|
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|
Tax on Interim Dividend |
0.000 |
0.000 |
30.438 |
|
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BALANCE CARRIED
TO THE B/S |
434.112 |
266.447 |
171.191 |
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EARNINGS IN
FOREIGN CURRENCY |
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|
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Export Earnings |
37.820 |
87.996 |
175.755 |
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TOTAL EARNINGS |
37.820 |
87.996 |
175.755 |
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IMPORTS |
|
|
|
|
|
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Raw Materials |
NA |
496.445 |
450.180 |
|
|
|
Traded goods |
NA |
8.280 |
13.053 |
|
|
|
Capital Goods |
NA |
13.239 |
2.957 |
|
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TOTAL IMPORTS |
NA |
517.964 |
466.190 |
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Earnings Per
Share (Rs.) |
14.88 |
8.91 |
33.84 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA |
6.46 |
21.16 |
|
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|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
10.15 |
10.07 |
32.69 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.74 |
8.00 |
33.56 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.32 |
1.48 |
|
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Debt Equity Ratio (Total Liability/Networth) |
|
3.99 |
4.51 |
3.44 |
|
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|
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Current Ratio (Current Asset/Current Liability) |
|
2.35 |
2.93 |
2.32 |
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 |
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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 |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
Yes |
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19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
Yes |
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
a) Micro And Small Enterprises |
0.000 |
0.000 |
0.000 |
|
b) Others |
394.960 |
200.810 |
139.938 |
|
Total |
394.960 |
200.810 |
139.938 |
FINANCIAL RESULTS
The Company has earned
profit after tax of Rs. 178.230 Millions as compared to Rs. 106.352 Millions
during the last year.
OPERATIONS:
The net sales turnover of the company has increased form Rs. 1606.683
Millions to Rs. 2126.945 Millions recording an increase of 32.38% over the
previous year. Net Profit Before Tax was Rs. 161.775 Millions of previous year
as compared Rs. 215.907 Millions of current year, recording an Increase of
33.46% in profit before tax of the current financial year.
DE-MERGER OF
SAFETY PRODUCTS DIVISION OF FORMA SPORTS PRIVATE LIMITED INTO CLASSIC STRIPES
LIMITED
In pursuance of
the scheme of arrangement between Forma Sports Private Limited and Classic
Stripes Private Limited (formerly known as Classic Stripes Limited), the safety
products division of Forma Sports Private Limited stands transferred and vested
in Classic Stripes Private Limited (formerly known as Classic Stripes Limited)
As per the scheme of demerger the Company has allotted 22,515 Equity shares of
Rs. 10/- each to the shareholders of Forma Sports Private Limited.
NEW PLANT AT
HARIDWAR
During the current
financial year the Company has commenced commercial production at its Haridwar
plant at Sidcul, Haridwar, Uttarakhand to meet requirements from HERO HONDA and
other Customers from the north region.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74999MH1987PTC044849 |
|
Name of the
company |
CLASSIC STRIPES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
164, Senapti Bapat Marg, Matunga (West), Mumbai – 400 016,
Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10068914 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
CIN, in case charge holder |
L65920MH1994PLC080618 |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel
(West), Mumbai- 400013, Maharashtra, India Email: akshat.tandon@hdfcbank.com
|
|
Nature of
instrument creating charge |
Supplemental Letter of Hypothecation of Stocks, Book Debts and
Machinery. |
|
Date of
instrument Creating the charge |
16.02.2012 |
|
Amount secured by
the charge |
Rs. 150.000 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As per the agreement or any other rate communicated by the bank from
time to time Terms of Repayment As per the agreement or unless demanded earlier by the bank. Margin As per the agreement or any other margin communicated by the bank from
time to time Extent and Operation of the charge First Charge by way of Hypothecation on company's current assets and
moveable assets, both present and future |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Charge by way of Hypothecation on company's current assets and
moveable assets, both present and future |
|
Date of
instrument modifying the charge |
03.06.2009 |
|
Particulars of
the present modification |
By this modification present charge on company's current assets and
moveable assets, both present and future is been extended for the enhancement
of their working capital limits (fund base and non fund base limits) from
Rs.45.000 Millions to Rs.150.000
Millions |
FIXED ASSETS:
- Land – Freehold
- Buildings
- Plant and Machinery
- Furniture and Fixtures
- Air conditioner
- Electrical Installation
- Office Equipment
- Computer
- Motor Car
- Motor Cycle
- Cycle
- Computer
Software
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.53.72 |
|
|
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
|
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.