MIRA
INFORM REPORT
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Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MALVIYA CRAFTS PRIVATE LIMITED |
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Registered Office : |
77, Gandhi Nagar, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
25.04.1997 |
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Com. Reg. No.: |
17-13632 |
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Capital
Investment / Paid-up Capital : |
Rs.1.200 millions |
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CIN No.: [Company
Identification No.] |
U14219RJ1997PTC013632 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JDHM04238D |
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PAN No.: [Permanent
Account No.] |
AACCM9700G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Marble and Other Stones Slab
and Articles |
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No. of Employees : |
15 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 17080 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered normal for small to mediocre 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Hitesh Malviya |
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Designation : |
Director |
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Contact: |
91-9828152305 |
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Date : |
21.04.2012 |
LOCATIONS
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Registered Office : |
77, Gandhi Nagar, |
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Tel. No.: |
91-2974-221150 |
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Mob No: |
91-9414152350 (Mr. Ashok) |
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Fax No.: |
91-2974-221305 |
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E-Mail : |
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Website : |
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Area |
1000 Sq. ft. |
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Location |
Owned |
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Factory : |
G-106, Arbuda Industrial Area, Gandhi
Nagar, |
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Tel. No.: |
91-2974-222822/ 221305/ 221150 |
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Fax No.: |
91-2974-221305 |
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Area |
3000 Sq. ft. |
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Location |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Ashok Kumar Malviya |
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Designation : |
Director |
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Address : |
45, Gandhi Nagar, |
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Date of Birth/Age : |
15.08.1966 |
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Date of Appointment : |
25.04.1997 |
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Name : |
Mr. Anil Kumar Malviya |
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Designation : |
Director |
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Address : |
45, Gandhi Nagar, |
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Date of Birth/Age : |
28.01.1972 |
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Date of Appointment : |
27.09.2001 |
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Name : |
Mr. Hitesh Kumar Malviya |
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Designation : |
Director |
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Address : |
45, Gandhi Nagar, |
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Date of Birth/Age : |
20.09.1984 |
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Date of Appointment : |
29.09.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Ashok Kumar Malviya |
29750 |
|
Kanku Ben Malviya |
28800 |
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Uma Malviya |
23450 |
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Anil Kumar Malviya |
11000 |
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Shilpa Malviya |
7000 |
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Hitesh Malviya |
8000 |
|
Geeta Malviya |
12000 |
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Total |
120000 |
AS ON 30.09.2011
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Equity Share
Breakup |
Percentage of
Holding |
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Category |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Marble and Other Stones Slab
and Articles |
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Products : |
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Exports : |
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Products : |
·
Architecture Articles and Handicrafts |
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Countries : |
·
UK ·
USA |
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Importer : |
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Products : |
·
Machinery |
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Countries : |
·
Italy |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON : 31.03.2009)
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Particulars |
Actual
Production |
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Marble |
20000to 25000
cft |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
·
Wholesalers ·
End Users ·
Government Department |
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No. of Employees : |
15 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 : |
Vipin Jain and Company Chartered Accountants |
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Address : |
Banarasi Niwas, Opposite Jugal Kishore, Paradas Jain, Sadar Bazar, |
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Tel. No.: |
91-2974-223136 |
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Sister Concern : |
·
Bhartiya Marble Line of Business: Manufacturer of Marble Granite and Other
Stones Slab and Articles Address: 77, Gandhi Nagar, ·
N B Marbles ·
Abu Handicrafts |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
120000 |
Equity Share |
Rs.10/- Each |
Rs.1.200 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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120000 |
Equity Shares |
Rs.10/- each |
Rs.1.200 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.200 |
1.200 |
1.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.070 |
2.499 |
2.261 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4.270 |
3.699 |
3.461 |
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LOAN FUNDS |
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1] Secured Loans |
2.537 |
2.038 |
2.014 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.380 |
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TOTAL BORROWING |
2.537 |
2.038 |
2.394 |
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DEFERRED TAX LIABILITIES |
0.033 |
0.073 |
0.103 |
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TOTAL |
6.840 |
5.810 |
5.958 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.659 |
2.257 |
2.612 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.842
|
4.650
|
1.925
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Sundry Debtors |
0.000
|
0.000
|
0.000
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Cash & Bank Balances |
1.622
|
0.045
|
0.164
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
13.863
|
12.724
|
10.922
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Total
Current Assets |
21.327
|
17.419
|
13.011
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
11.005
|
9.639
|
7.655
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Current Liabilities |
5.824
|
3.996
|
1.716
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Provisions |
0.317
|
0.231
|
0.294
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Total
Current Liabilities |
17.146
|
13.866
|
9.665
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Net Current Assets |
4.181
|
3.553
|
3.346
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.840 |
5.810 |
5.958 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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TURNOVER |
30.877 |
25.291 |
23.938 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
30.029 |
24.594 |
23.353 |
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Interest |
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Depreciation |
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TOTAL |
30.029 |
24.594 |
23.353 |
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PROFIT BEFORE
TAX |
0.848 |
0.697 |
0.585 |
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Less |
TAX |
0.277 |
0.459 |
0.223 |
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PROFIT AFTER TAX
|
0.571 |
0.238 |
0.362 |
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Earnings Per
Share (Rs.) |
4.76 |
1.98 |
3.02 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.84
|
0.94
|
1.51
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Net Profit Margin (PBT/Sales) |
(%) |
2.74
|
2.75
|
2.44
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.53
|
3.54
|
3.74
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Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.18
|
0.17
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Debt Equity Ratio (Total Liability/Networth) |
|
4.61
|
4.29
|
3.48
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Current Ratio (Current Asset/Current Liability) |
|
1.24
|
1.25
|
1.36
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LOCAL AGENCY FURTHER INFORMATION
FINANCE:
The company has cash credit limit with Bank of Baroda, Abu Road. Total outstanding
as on 31.03.2011 was Rs. 1.936 millions. The company has also availed vehicle
term loan against Tata Truck from State Bank of India Abu-Road, total
outstanding as on 31.03.2011 was Rs. 0.602 million.
OPERATING RESULTS:
The company generate an profit after tax Rs. 0.571 millions in the
period under report.
The position may improve in the succeeding years due to higher
productivity and quality control on cost and improving market efforts.
FORM : 8
|
Corporate
identity number of the company |
U14219RJ1997PTC013632 |
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Name of the
company |
MALVIYA CRAFTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
77, Gandhi Nagar, Abu Road – 307 026, Rajasthan, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
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Particular of
charge holder |
Bank of Baroda, Abu Road Branch, Abu Road – 307 026, Rajasthan, India Email: abroad@bankofbaroda.com |
|
Nature of
instrument creating charge |
1.Supplemental
Composite Agreement of Hypothecation of goods, book debts, moveable machinery
and vehicles.LDOC 17(C) 2.Supplemental
Memorandum of Deposit of title deeds for Extension of Equitable Mortgage. |
|
Date of
instrument Creating the charge |
07.02.2012 |
|
Amount secured by
the charge |
Rs. 16.000
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest @ 2.50%
p.a. Above Base Rate, Present Base Rate is 10.75% with monthly rest, Applicable as per
Special Marble Processing Units finance scheme for Rajasthan Jone. Terms of repayment Repayable on
demand Margin On Stocks - 25% On Book Debts (Up
to 90 days) - 30% Extent and operation of the charge The charge will
operate as a first charge to the extent of Rs.16.000 millions to secure following
limits given to the company by the bank. Cash Credit
(Hypo. of Stock and Book Debts)
Rs.6.000 millions Bank Guarantee
(Performance) Rs.7.500 millions Bank Guarantee
(Financial) Rs.2.500 millions Total Limits Rs.16.000 millions |
|
Short particulars
of the property charged (Including location of the property) |
First charge by
way of hypothecation of all stocks of raw material, semi finished and
finished goods, stock in process consumable goods, packing material , stores
and spares, all present and future book debts, all present and future movable
plant, machinery and all present and future current and fixed assets of the
company as a security to cover Cash Credit (Hypo. of stocks and book debts)
limits of Rs.6.000 millions, Bank Guarantee (Performance) limit of Rs.7.500
millions Bank Guarantee (Financial) of Rs.2.500 millions totaling of
Rs.16.000 millions Granted to the company by the bank. Equitable
Mortgage is extended on immovable property of the company comprising land and
building constructed or to be constructed,Fixed plant and machinery, erected
or to be erected both present and future situated at Plot No.G-106, Arbuda
Industrial Area, Abu Road, Rajasthan as a security to cover Cash Credit
(Hypo. of stocks and book debts) limits of Rs.6.000 millions Bank Guarantee
(Performance) limit of Rs.7.500 millions, Bank Guarantee (Financial) of
Rs.2.500 millions totaling of Rs.16.000 millions Granted to the company by
the bank. The above
security also cover New Term Loan of Rs.9.000 millions and Existing Term
Loan-I of Rs.94.000 millions. |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. If yes, in whose
name it is registers |
Yes, Ashok Kumar
Malviya - Smt.Kanku Devi - Uma Malviya |
|
Particulars of
the present modification |
By this
modification limits has been enhanced from Rs.2.000 millions to Rs.16.000
millions against the security of all current and fixed assets of the company
and EM is also extended on Immovable Property of the company situated at Plot
No.G-106, Arbuda Industrial Area, Abu Road. (Limits as follow) Cash Credit
(Hypo. of Stock and Book Debts)
Rs.6.000 millions Bank Guarantee
(Performance) Rs.7.500 millions BG
(Financial) Rs.2.500 millions Total Limits Rs.16.000 millions Other terms and
condition remain unchanged. |
FIXED ASSETS:
- Building
- Elect Installation
- Land
- Office Equipments
- Computers
- Plant and Machinery
- Tube Well
- Vehicles
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter's background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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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 |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
Yes |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if
applicable) |
Yes |
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21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
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. 44.30 |
|
|
1 |
Rs. 73.89 |
|
Euro |
1 |
Rs. 65.57 |
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 |
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.