MIRA
INFORM REPORT
|
Report Date : |
16.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
MILLENIUM MARBLES PRIVATE LIMITED
(w.e.f. 03.05.1999) |
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Formerly Known
As : |
MANSI MARBLES PRIVATE LIMITED |
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Registered
Office : |
Airport Service Road, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
22.03.1999 |
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Com. Reg. No.: |
11-119022 |
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Capital
Investment/ Paid-up Capital: |
Rs.24.200 Millions |
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|
CIN No.: [Company Identification
No.] |
U51909MH1999PTC119022 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22739D/ MUMM19215A |
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PAN No.: [Permanent Account No.] |
AABCM6102F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Marble Granites and Tiles. |
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No. of
Employees: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 209000 |
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Status : |
Moderate |
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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 moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A4 (Short Term Bank Facilities) |
|
Rating Explanation |
Minimal degree of safety it carry very high
credit risk |
|
Date |
11.09.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
BB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
11.09.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
MANAGEMENT NON CO-OPERATIVE
Tell
No.:91-22-26631602
LOCATIONS
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Registered Office : |
Airport Service Road, |
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Tel. No.: |
91-22-26631602/ 26175646/ 26177546 |
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Fax No.: |
91-22-26631602/ 26347148 |
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E-Mail : |
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Website : |
DIRECTORS
As on 22.09.2012
|
Name : |
Mr. Rajendra Agarwal |
|
Designation : |
Director |
|
Address : |
Airport Service Road, |
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Date of Birth/Age : |
18.12.1959 |
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Date of Appointment : |
22.03.1999 |
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DIN No.: |
00145598 |
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Name : |
Mr. Pramod Gupta |
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Designation : |
Director |
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Address : |
Airport Service Road, |
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Date of Birth/Age : |
04.07.1958 |
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Date of Appointment : |
12.08.2002 |
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DIN No.: |
00349626 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Bela Agarwal |
|
952500 |
|
Amita Agarwal |
|
192500 |
|
Rajendra Agarwal |
|
732500 |
|
Vinita Agarwal |
|
442500 |
|
S D Agarwal (HUF) |
|
20000 |
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Pitamber Agarwal |
|
80000 |
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Total |
|
2420000 |
Equity Share Break up (Percentage of Total Equity)
As on 22.09.2012
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Marble Granites and Tiles. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual Production |
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Stone Slabs |
Sq. mt. |
39986.02 |
GENERAL INFORMATION
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No. of Employees : |
Information denied by management |
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Bankers : |
Punjab National Bank International Banking Branch, 265, Birya House, |
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Facilities : |
·
Term Loans is
secured against First Exclusive Charge on Immoveable property ·
Vehicle Loans are
secured against specific Vehicles. ·
Maturity Profile
and Rate of interest for Term Loan is as set out below :
Maturity Profile and Rate of interest for
Vehicle Loans are as set out below :
Maturity Profile and Rate of interest for
unsecured are as set out below
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R. K. Malpani and Associates Chartered Accountant |
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Address : |
103-A, Shyam Anukampa, O-11, Ashok Marg, C-Scheme, Jaipur – 302001, |
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Tel. No.: |
91-141-2364313/ 2364513 |
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Fax No.: |
91-141-2364413 |
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E-Mail : |
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Pan No.: |
AABFR2190M |
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CAPITAL STRUCTURE
As On 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
3000000 |
Equity Share |
Rs.10/- each |
Rs.30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
2420000 |
Equity Share |
Rs.10/- each |
Rs.24.200
Millions |
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|
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|
The Reconciliation of
the number of shares outstanding is set out below :
|
|
31.03.2012 |
31.03.2011 |
|
Equity
shares at the beginning of the year |
2420000 |
2420000 |
|
Shares
Issued during the year Shares |
0 |
0 |
|
Forfieted
during the year |
0 |
0 |
|
Equity
Shares at the end of the year |
2420000 |
2420000 |
Terms/ Rights
attached to Equity Shares
The Company has only one Class of Equity
Shares having par value of '10/- per share Each holder of equity
Details of
Shareholders holding more than 5 percent in the Company.
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|
31.03.2012 |
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No. of shares |
% of holding |
|
Beta Agarwal |
952500 |
39.36 |
|
Rajendra Agarwal |
732500 |
30.27 |
|
Vinila Agarwal |
442500 |
18.29 |
|
Amita Agarwal |
192500 |
7.95 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
24.200 |
24.200 |
24.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
27.976 |
6.849 |
5.912 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
52.176 |
31.049 |
30.112 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
60.079 |
65.838 |
29.700 |
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2] Unsecured Loans |
1.103 |
12.000 |
0.000 |
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TOTAL BORROWING |
61.182 |
77.838 |
29.700 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
113.358 |
108.887 |
59.812 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
25.740 |
9.861 |
3.763 |
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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 |
0.661 |
0.443 |
0.326 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
63.484
|
37.575 |
32.849 |
|
|
Sundry Debtors |
44.013
|
86.909 |
45.253 |
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|
Cash & Bank Balances |
5.957
|
3.671 |
3.602 |
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|
Other Current Assets |
2.068
|
0.061 |
0.000 |
|
|
Loans & Advances |
3.093
|
8.805 |
13.672 |
|
Total
Current Assets |
118.615
|
137.021 |
95.376 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
21.063
|
35.441 |
37.018 |
|
|
Other Current Liabilities |
10.355
|
2.760 |
2.635 |
|
|
Provisions |
0.240
|
0.237 |
0.000 |
|
Total
Current Liabilities |
31.658
|
38.438 |
39.653 |
|
|
Net Current Assets |
86.957
|
98.583 |
55.723 |
|
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|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
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|
|
|
|
TOTAL |
113.358 |
108.887 |
59.812 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
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|
SALES |
|
|
|
|
|
|
|
Income |
293.293 |
251.984 |
189.919 |
|
|
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Other Income |
0.289 |
0.270 |
1.363 |
|
|
|
TOTAL (A) |
293.582 |
252.254 |
191.282 |
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|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
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|
Cost of Material consumed |
292.041 |
|
|
|
|
|
Employee Benefit expenses |
2.589 |
2.850 |
|
|
|
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Other Expense |
35.457 |
24.504 |
|
|
|
|
Changes in inventories of finished goods, work in progress and stock in trade |
(45.153) |
(1.495) |
|
|
|
|
TOTAL (B) |
284.934 |
243.563 |
184.002 |
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.648 |
8.691 |
7.280 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.808 |
5.338 |
5.580 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.840 |
3.353 |
1.700 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.193 |
1.952 |
0.412 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.647 |
1.401 |
1.288 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.520 |
0.465 |
0.398 |
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
1.127 |
0.936 |
0.890 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
72.627 |
91.163 |
96.982 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.47 |
0.39 |
0.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.38 |
0.37
|
0.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.56 |
0.56
|
0.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.14 |
0.95
|
1.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.05
|
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.78 |
3.74
|
2.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.75 |
3.56
|
2.41 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
No |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
No |
SUNDRY CREDITORS
DETAILS:
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Trade payables |
21.063
|
35.441 |
37.018 |
|
|
|
|
|
|
Total |
21.063
|
35.441 |
37.018 |
WORKING RESULTS
The company achieved a good turnover
FORM 8:
|
Corporate
identity number of the company |
U51909MH1999PTC119022 |
|
Name of the company
|
MILLENIUM MARBLES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Airport Service
Road, Western Express, Vile Parle (East), Mumbai – 400099, Email: agarwalrajendra@hotmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90143189 |
|
Type of charge |
Immovable
Property Any Interest in
immovable property |
|
Particular of
charge holder |
Punjab National
Bank International
Banking Branch, 265, Birya House, Email:jpscs2007@gmail.com |
|
Nature of
instrument creating charge |
Letter recording
extension and creation of title deeds Dated 19.11.11 for Rs.103.000 Millions (BY this
submission of modification, the company has created charge on immovable
properties to secure total facilities
of Rs.103.000 Millions which fund base and non fund base limits which
also includes the term loan of
Rs.103.000 Millions) |
|
Date of
instrument Creating the charge |
19.11.2011 |
|
Amount secured by
the charge |
Rs.103.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interests: By this
submission, the company has created/extended charge on immovable properties
at mumbai to secure bank for the total facilities sanction of rs.1030 lacs Terms of Repayment: By this
submission, the company has created/extended charge on immovable properties
at mumbai to secure bank for the total facilities sanction of rs.1030 lacs Margin: By this
submission, the company has created/extended charge on immovable properties
at mumbai to secure bank for the total facilities sanction of rs.103.000
Millions Extent and Operation of the charge: RS.103.000
Millions and Operation of charege on immovable properties at a. office no.
B/204, Jugal Jyoti CHS Limited sasmira centre, Mumbai -98 owned by Suresh
Agarwal Huf B. Office No.
B/102, Jugal Jyoti CHS Limited, Sasmira Centre, Mumbai -98 C. Plot of D. Office
No.B/202, Jugal JyotI CHS Limited
Sasmira Centre, Mumbai -98 owned by HP Agarwal and Smt Parmeshwaridevi Others: Plot of land
bearing city Survey No.2099 2500 sq.ft.at western highway, Vile Parle E
Mumbai owned by the company |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
A. Office No.
B/204, Jugal Jyoti CHS Limited, Sasmira Centre, Mumbai -98 B. Office No.
B/102, Jugal Jyoti CHS Limited, Sasmira Centre, Mumbai -98 C. Plot of D. Office
No.B/202, Jugal JyotI CHS Limited
Sasmira Centre, Mumbai -98 owned by HP Agarwal and Smt Parmeshwaridevi |
|
Particulars of the
present modification |
By this
submission of modification , the company has created charge on immovable properties AT A. Office No.
B/204, Jugal Jyoti CHS Limited, Sasmira Centre, Mumbai -98 B. Office No.
B/102, Jugal Jyoti CHS Limited, Sasmira Centre, Mumbai -98 C. Plot of D. Office
No.B/202, Jugal JyotI CHS Limited
Sasmira Centre, Mumbai -98 owned by HP Agarwal and Smt
Parmeshwaridevi to secure bank for
total facilities of Rs. RS.103.000 Millions |
FIXED ASSETS:
·
· Plant and Machinery
· Electrical Installation
· Office Equipments
· Computers
· Vehicles
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 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.54.96 |
|
|
1 |
Rs.87.10 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.