MIRA INFORM REPORT
|
Report Date : |
14.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
EVE FABRICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
N.T.C. House, 1st Floor,
Ballard Estate, Mumbai – 400038, |
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.02.1936 |
|
|
|
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Com. Reg. No.: |
11-002443 |
|
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|
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Capital
Investment/ Paid-up Capital: |
Rs.0.501 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51310MH1936PTC002443 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of all types of Fabrics and Rubber
Fabrics |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 97000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a well established and reputed company having satisfactory track.
Trade relations are reported as fair. Business is active. Payments are
reported as usually made as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 : |
N.T.C. House, N.M. Marg, Ballard Estate, Mumbai – 400038, |
|
Tel. No.: |
91-22-22614025/22613440 |
|
Fax No: |
91-22-22617709/ 26484584 |
|
E-Mail : |
DIRECTORS
As on 09.08.2011
|
Name : |
Mr. Aditya Chandrakant Mody |
|
Designation : |
Director |
|
Address : |
Amrut Niwas, 1st Floor, 14, |
|
Date of Birth/Age : |
03.02.1974 |
|
Date of Appointment : |
06.04.2002 |
|
DIN No: |
00121395 |
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 |
U51310MH1936PTC002443 |
Eve Fabrics Private Limited |
Director |
06-04-02 |
06-04-02 |
- |
Active |
NO |
|
2 |
U25209MH1996PTC098680 |
Devashish Polymers Private Limited |
Director |
31-08-05 |
31-08-05 |
30-07-07 |
Active |
NO |
|
3 |
U74300KA2008PTC047158 |
D T Media Publishers India Private Limited |
Director |
15-07-08 |
15-07-08 |
- |
Active
|
|
|
Name : |
Mr. Chandrakant Kamlaprasad Mody |
|
Designation : |
Director |
|
Address : |
Amrut Niwas, 1st Floor, 14, |
|
Date of Birth/Age : |
29.12.1951 |
|
Date of Appointment : |
11.08.1977 |
|
DIN No: |
00121576 |
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 |
U51310MH1936PTC002443 |
Eve Fabrics Private Limited |
Director |
11-08-77 |
11-08-77 |
- |
Active |
NO |
|
2 |
U92190MH1946PLC004996 |
Famous Studios Limited |
Director |
20-10-78 |
20-10-78 |
- |
Active |
NO |
|
3 |
U17110MH1952PTC008883 |
The Hinnd Silk Mill Private Limited |
Director |
14-11-80 |
14-11-80 |
- |
Active |
|
|
4 |
U25209MH1996PTC098680 |
Devashish Polymers Private Limited |
Director |
01-12-97 |
01-12-97 |
- |
Active |
NO |
|
Name : |
Mr. Sajjan Nanuram Keyal |
|
Designation : |
Director |
|
Address : |
Sai Palkhi, B, CHSL, B-302, Sai baba Nagar, |
|
Date of Birth/Age : |
02.07.1963 |
|
Date of Appointment : |
17.11.2006 |
|
DIN No: |
00121881 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 09.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
1 |
|
|
|
12 |
|
Aditya C. Mody |
|
14770 |
|
Gautam N. Aggarwal |
|
10 |
|
Chandrakant K. Mody - HUF |
|
10 |
|
Chardrakant K. Mody |
|
26187 |
|
Sajjan N. Keyal |
|
100 |
|
Aditya C. Mody - HUF |
|
10 |
|
Charulata A. Mody |
|
5000 |
|
AKM Global Textile Private Limited ( |
|
4000 |
|
Total |
|
50100 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
7.98 |
|
Directors or relatives of Directors |
92.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of all types of Fabrics and Rubber
Fabrics |
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|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Punjab National
Bank, Ilaco House, Mumbai – 400001, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
M.L. Sharma and Company Chartered Accountants |
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Address : |
107, Chartered House, 297-299, |
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PAN No: |
AAAFM5600N |
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|
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Associates: |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50100 |
Equity Share |
Rs.10/- each |
Rs.0.501
Million |
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 |
0.501 |
0.501 |
0.501 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
23.959 |
20.230 |
17.895 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
24.460 |
20.731 |
18.396 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.788 |
4.072 |
2.193 |
|
|
2] Unsecured Loans |
15.848 |
2.814 |
0.000 |
|
|
TOTAL BORROWING |
24.636 |
6.886 |
2.193 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
49.096 |
27.617 |
20.589 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.017 |
2.582 |
2.815 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.316 |
3.792 |
4.262 |
|
|
DEFERREX TAX ASSETS |
0.224 |
0.134 |
0.221 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
28.158
|
25.006
|
35.147 |
|
|
Sundry Debtors |
34.230
|
6.850
|
3.516 |
|
|
Cash & Bank Balances |
0.026
|
0.649
|
0.529 |
|
|
Other Current Assets |
1.762
|
0.139
|
0.061 |
|
|
Loans & Advances |
8.161
|
12.421
|
21.090 |
|
Total
Current Assets |
72.337
|
45.065 |
60.343 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.903
|
14.557
|
35.506 |
|
|
Other Current Liabilities |
0.200
|
0.362
|
0.395 |
|
|
Provisions |
6.695
|
9.037
|
11.151 |
|
Total
Current Liabilities |
26.798
|
23.956 |
47.052 |
|
|
Net Current Assets |
45.539
|
21.109
|
13.291 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
49.096 |
27.617 |
20.589 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
123.482 |
64.932 |
89.569 |
|
|
|
Other Income |
|
3.907 |
4.080 |
|
|
|
TOTAL (A) |
123.482
(Including Increase/ Decrease in Stock) |
68.839 |
93.649 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
117.317 |
10.141 |
2.738 |
|
|
|
Administrative, Selling and Distribution Expenses |
|
9.345 |
20.352 |
|
|
|
Purchase Trading |
|
44.439 |
72.176 |
|
|
|
TOTAL (B) |
117.317
(Including Financial and Depreciation Charges) |
63.925 |
95.266 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
4.914 |
(1.617) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.848 |
1.220 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
4.066 |
(2.837) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.628 |
0.749 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX (E-F) (G) |
6.165 |
3.438 |
(3.586) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.436 |
1.103 |
0.405 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX (G-H) (I) |
3.729 |
2.335 |
(3.991) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
16.092 |
20.183 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
18.427 |
16.192 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
0.000 |
0.000 |
0.162 |
|
|
|
Export Earnings |
0.000 |
0.000 |
0.000 |
|
|
|
Discount / Claim |
0.000 |
0.000 |
0.102 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
0.264 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
18.008 |
12.578 |
27.104 |
|
|
|
|
|
|
|
|
|
|
Earnings / LOSS
Per Share (Rs.) |
74.42 |
46.60 |
(79.66) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.01
|
3.39
|
(4.26) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
5.29
|
(4.00) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.29
|
7.22
|
(5.68) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.16
|
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.10
|
1.49
|
2.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.69
|
1.88
|
1.28 |
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 |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
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 |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
Form 8 :
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80020276 |
|
Corporate
identity number of the company |
U51310MH1936PTC002443 |
|
Name of the
company |
EVE FABRICS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
NTC House1st
floor, Ballard Estate, Mumbai – 400038, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Punjab National Bank,
Ilaco House, Mumbai – 400001, Email: ilacopnb@vsnl.net |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
Goods and Book-debts to secure Cash Credit facility dated 9th January, 2007. Hypothecation of
moveable assets forming part of fixed / block assets dated 9th January, 2007. Deed of
Hypothecation to secure LC on DA / DP basis dated 9th January, 2007. Letter of credit
limit dated 9th January, 2007. |
|
Date of
instrument Creating the charge |
09.01.2007 |
|
Amount secured by
the charge |
Rs.9.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: BPLR (presently 11.50%
p.a.) subject to change from time to time Terms of
Repayment : Repayment on
demand Margin : Margin 25% for
stocks and 50% for book-debts Extent and
Operation of the charge : Enhancement of
cash credit (Hypothecation of stock and book-debts) limit from Rs.5.000
Millions to Rs.9.000 Millions and Non-fund based limit - FLC (DP) limit of
Rs.4.000 Millions within the limit of Rs.9.000 Millions. |
|
Short particulars
of the property charged |
Hypothecation of goods
and book-debts and hypothecation of moveable assets forming part of fixed /
block assets. |
|
Date of latest
modification prior to the present modification |
04.02.2005 |
|
Particulars of
the present modification |
Enhancement of
cash credit (Hypothecation of stock and book-debts) limit from Rs.5.000
Millions to Rs.9.000 Millions and Non-fund based limit - FLC (DP) limit of
Rs.4.000 Millions within the limit of Rs.9.000 Millions |
Fixed Assets :
- Plant and
Machinery
- Office
equipment
- Motor car
- Computer
- Furniture and
Fixture
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.53.64 |
|
|
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.