|
Report Date : |
22.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ALIDHRA WEAVE TECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 195, Road No 6 F New Estate, Udyog Nagar, Udhna, |
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
09.08.2001 |
|
|
|
|
Com. Reg. No.: |
039866 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.800 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29261GJ2001PTC039866 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTA00288B |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer of All Kinds of Textile Machinery. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRAs Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct and as per commitments. The company can be considered for small business dealings with some
cautions. |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Plot No. 195, Road No 6 F New Estate, Udyog Nagar, Udhna, Surat
394210, Gujarat, India |
|
Tel. No.: |
91-261-2278674 / 2278374 |
|
Fax No.: |
91-261-2278438 |
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E-Mail : |
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Website : |
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|
Manufacturing Unit
1 (Components and Systems): |
Sachin G.I.D.C, Surat, Gujarat, India Function: High-Precision Component
Manufacting, Sub-Assemblies, Gear Boxes, Auto-Components, Material Treatment
shop. |
|
|
|
|
Manufacturing Unit
2 (Components & Systems) : |
Sachin-Hojiwala, Surat, Gujarat, India Function: TFO machine assembly and
testing, Fabrication shop, TFO-Electronic Panel Assembly. |
|
|
|
|
Assembly Unit 1 (Weaving Preparatory Machinery) : |
U.T. of D&NH, Silvassa Function: Heavy Engineering, Prototype Lab,
Customized Engineering Solutions |
|
|
|
|
Assembly Unit 2 (Shuttleless Looms) : |
U.T. of D&NH, Silvassa Function: Rapier and Water-Jet Loom
assembly and testing, Fabrication shop, Loom-Control Panel Assembly. |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Vallabhbhai S Thumar |
|
Designation : |
Director |
|
Date of Birth/Age : |
26.07.1953 |
|
Date of Appointment : |
09.08.2001 |
|
|
|
|
Name : |
Mr. Amitbhai C Thumar |
|
Designation : |
Director |
|
Date of Birth/Age : |
03.10.1976 |
|
Date of Appointment : |
09.08.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Vallabhbhai
S Thumar [HUF] |
12500 |
|
Amit
Chhaganbhai Thumar |
12500 |
|
Babubhai S.
Thumar [HUF] |
2500 |
|
Dhirajlal S
Thumar [HUF] |
2500 |
|
Chhaganbhai
L Thumar [HUF] |
2500 |
|
Shamjibhai
L Thumar [HUF] |
2500 |
|
Chintan
Vallabhbhai Thumar |
2500 |
|
Leelaben
Vallabhbhai Thumar |
12500 |
|
Manjulaben
Babubhai Thumar |
2500 |
|
Mukund Chhaganbhai
Thumar |
2500 |
|
Naresh
Dhirajlal Thumar |
2500 |
|
Pratik
Dhirajlal Thumar |
2500 |
|
Paresh
Chhaganbhai Thumar |
2500 |
|
Rasilaben
Chhaganbhai Thumar |
12500 |
|
Savitaben
Dhirajlal Thumar |
2500 |
|
Vimal
Babubhai Thumar |
2500 |
|
Total |
80000 |
AS ON 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of All Kinds of Textile Machinery. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
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|
|||||||||
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Bankers : |
The Kalupur Commercial Co Op Bank Limited, Kalupur Bank Bhavan, Near Income
Tax Circle, Ashram Road, Ahmedabad 380014, Gujarat, India |
|||||||||
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|||||||||
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Facilities : |
Rs. In Millions
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B R Trivedi and Company Chartered Accountant |
|
Address 1: |
343, New Ashirwad Villa, New City Light Road, Near St. Thomas English
Medium School, Surat 395007, Gujarata, India |
|
|
|
|
Address 1: |
105, Shrinathji Apartment, 1st Floor, Patel Colony, B/H
Shivam Hospital, Udhna Main Road, Surat 394210, Gujarat, India |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 10 each |
Rs. 1.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000 |
Equity Shares |
Rs. 10 each |
Rs.0.800 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 |
0.800 |
0.800 |
0.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.811 |
1.706 |
0.493 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.611 |
2.506 |
1.293 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
16.103 |
15.372 |
17.397 |
|
|
TOTAL BORROWING |
16.103 |
15.372 |
17.397 |
|
|
DEFERRED TAX LIABILITIES |
0.133 |
0.133 |
0.133 |
|
|
|
|
|
|
|
|
TOTAL |
18.847 |
18.011 |
18.823 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.806 |
3.956 |
3.952 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.200
|
2.597 |
3.408 |
|
|
Sundry Debtors |
14.743
|
16.594 |
12.351 |
|
|
Cash & Bank Balances |
0.616
|
0.651 |
0.113 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
1.396
|
1.042 |
0.551 |
|
Total
Current Assets |
21.955
|
20.884 |
16.423 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.657
|
4.694 |
0.657 |
|
|
Other Current Liabilities |
0.660
|
0.606 |
0.612 |
|
|
Provisions |
0.597
|
1.529 |
0.283 |
|
Total
Current Liabilities |
7.914
|
6.829 |
1.552 |
|
|
Net Current Assets |
14.041
|
14.055 |
14.871 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18.847 |
18.011 |
18.823 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
SALES |
13.349 |
22.087 |
10.344 |
|
|
|
|
|
|
|
Less |
EXPENSES |
13.277 |
20.333 |
10.200 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.072 |
1.755 |
0.144 |
|
|
|
|
|
|
|
Less |
TAX |
0.022 |
0.580 |
0.015 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.050 |
1.175 |
0.129 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.62 |
14.68 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.53
|
7.94 |
1.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.26
|
7.06 |
0.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.70 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.24
|
8.91 |
14.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.77
|
3.05 |
10.58 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION:
The turnover of the company for the year was Rs. 13.349 millions. Net
profit works out Rs. 0.049 million.
FIXED ASSETS:
·
Land building
·
Plant and Machinery
·
Electrical Fittings
·
Patterns and Dies
·
Furniture and Fixture
·
Air Conditioner
·
Tempo
·
Computer
FORM 8
|
Corporate
identity number of the company |
U29261GJ2001PTC039866 |
|
Name of the
company |
ALIDHRA WEAVE TECH PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Plot No. 195, Road No 6 F New Estate, Udyog Nagar, Udhna 394210,
Surat, Gujarat, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
The Kalupur Commercial Co Op Bank Limited, Kalupur Bank Bhavan, Near
Income Tax Circle, Ashram Road, Ahmedabad 380014, Gujarat, India Email: mauli@kalupurbank.com
|
|
Nature of
instrument creating charge |
Simple mortgage
deed for creating mortgage over property situated at Plot No.A-5-4,HOJIWALA
INDUSTRIAL ESTATE,SACHIN UDHYOG NAGAR SAHKARI SANGH , DANDI ROAD ,SACHIN ,
VANZ , SURAT. GUJARAT - 394230. given as a collateral security for machinery
term loan/CC limit avail by Marval Engineering Pvt.Ltd. along with CC limit
avail by partnership firm Weavetech Engineers (Dadra) from The Kalupur
commercial co-op bank ltd. Gujarat. |
|
Date of
instrument Creating the charge |
08.09.2011 |
|
Amount secured by
the charge |
Rs. 100.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per Bank
Agreement Terms of repayment On demand and as per
Monthly installments as mentioned in Bank Agreement. Margin As per Bank
Agreement. Extent and operation of the charge The Bank Has
First And Exclusive Charge Over Factory Shed Situated At Plot
No.A-5-4,Hojiwala Industrial Estate,Sachin Udhyog Nagar Sahkari Sangh , Dandi
Road ,Sachin , Vanz , Surat. Gujarat - 394230. |
|
Short particulars
of the property charged (Including location of the property) |
All Piece Factory
Shed Situated At Plot
No.A-5/4,Hojiwala Industrial Estate,Sachin Udhyog Nagar Sahkari Sangh , Dandi
Road ,Sachin , Vanz , Surat. Gujarat - 394230 Admeasuring 7308.00 Sq.Mtr. |
|
Date of
instrument modifying the charge |
27.04.2011 |
|
Particulars of
the present modification |
The amount secure
by charge increase from Rs.25.000 millions to Rs.100.000 millions on account
of availment of fresh CC Limit by Weavetech engineers of Rs.50.000 millions ,
CC limit of Marval Eng. Pvt.Ltd.10.000 millions and Machinery term loan of
Marval Eng.Pvt.Ltd. 40.000 millions (2.32+1.68) (Take over From The Surat
Peoples Co-op bank Ltd.) Total Charge of
Rs.100.000 millions |
|
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 |
No |
|
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
involved in |
-- |
|
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 |
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 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 Intl
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 companys 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.54.68 |
|
|
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
This score serves as a reference to assess SCs 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.