MIRA INFORM REPORT
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Report Date : |
05.10.2010 |
IDENTIFICATION DETAILS
|
Name : |
LA CERA MALL PRIVATE LIMITED |
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Registered
Office : |
44/A Government Industrial Estate, Opposite IPCA Laboratory, M G Road, Charkop, Kandivli (West), Mumbai – 400067, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
25.06.2004 |
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Com. Reg. No.: |
11-147169 |
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Capital Investment
/ Paid-up Capital : |
Rs.9.100 Millions |
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CIN No.: [Company Identification
No.] |
U51433MH2004PTC147169 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUML06002D |
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PAN No.: [Permanent Account No.] |
AAACL9996K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Ceramics Tiles and Bathroom Fittings. |
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No. of Employees
: |
50 (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 260000 |
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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. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitments. The company can be considered 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries, and a
multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Kavita |
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Designation : |
Account Manager |
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Contact No.: |
91-22-28605132 |
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Date : |
04.10.2012 |
LOCATIONS
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Registered Office / Head Office : |
44/A Government Industrial Estate, Opposite IPCA Laboratory, M G Road, Charkop, Kandivli (West), Mumbai – 400067, Maharashtra, India |
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Tel. No.: |
91-22-28605132 / 28674107 |
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Fax No.: |
91-22-28697576 / 28674373 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office : |
Located at
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DIRECTORS
As on 30.09.2011
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Name : |
Mr. Mukesh Himatlal Mehta |
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Designation : |
Director |
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Address : |
C/3/8, 3rd, Kripa Nagar, S.V. Road, Irla, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
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Date of Birth/Age : |
05.08.1959 |
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Date of Appointment : |
25.06.2004 |
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PAN No.: |
00881822 |
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Name : |
Mr. Jagdish Himatlal Mehta |
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Designation : |
Director |
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Address : |
1604 E, Agarwal Residency, Shankar Lane, Kandivali (West), Mumbai-400067, Maharashtra, India |
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Date of Birth/Age : |
25.10.1955 |
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Date of Appointment : |
25.06.2004 |
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PAN No.: |
00881834 |
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Name : |
Mr. Rajnikant Himatlal Mehta |
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Designation : |
Director |
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Address : |
Viceroy Park, Tower A, Flat 18-B, Opposite Thakur Cinema, Thakur Village, Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
20.09.1947 |
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Date of Appointment : |
25.06.2004 |
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PAN No.: |
00881836 |
KEY EXECUTIVES
|
Name : |
Ms. Kavita |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Rajnikant Himatlal Mehta |
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10000 |
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Bipin Himatlal Mehta |
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10000 |
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Jagdish Himatlal Mehta |
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10000 |
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Mukesh Himatlal Mehta |
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10000 |
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Vipul Prayudrai Mehta |
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10000 |
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Weldecor Tiles and Marbale, India |
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860000 |
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Total |
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910000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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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 : |
Trader of Ceramics Tiles and Bathroom Fittings. |
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Brand Names : |
“LA CALISTO” |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
50 (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 : |
NGS and Company Chartered Accountants |
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Address : |
46/B, Praavasi Industrial Estate, Vishweshwar Nagar Road, Goregaon
(East), Mumbai – 400063, Maharashtra, India |
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Tel. No.: |
91-22-42173337 / 3327 |
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PAN No.: |
AABFS3313D |
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Related Parties : |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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910000 |
Equity Shares |
Rs.10/- each |
Rs.9.100
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
9.100 |
9.100 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
55.684 |
52.314 |
0.991 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
64.784 |
61.414 |
1.491 |
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LOAN FUNDS |
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1] Secured Loans |
24.361 |
0.011 |
2.308 |
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2] Unsecured Loans |
4.368 |
10.376 |
9.348 |
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TOTAL BORROWING |
28.729 |
10.387 |
11.656 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
93.513 |
71.801 |
13.147 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.345 |
1.427 |
1.490 |
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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 |
0.099 |
0.115 |
0.089 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
79.054
|
31.883 |
9.992 |
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Sundry Debtors |
22.472
|
6.125 |
3.127 |
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Cash & Bank Balances |
6.274
|
18.413 |
0.680 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
12.525
|
19.640 |
1.370 |
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Total
Current Assets |
120.325
|
76.061 |
15.169 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
16.005
|
2.397 |
2.010 |
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Other Current Liabilities |
12.179
|
3.405 |
1.420 |
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Provisions |
0.072
|
0.000 |
0.171 |
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Total
Current Liabilities |
28.256
|
5.802 |
3.601 |
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Net Current Assets |
92.069
|
70.259 |
11.568 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
93.513 |
71.801 |
13.147 |
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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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SALES |
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Income |
299.799 |
80.385 |
27.613 |
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Other Income |
1.094 |
0.326 |
NA |
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TOTAL (A) |
300.893 |
80.711 |
NA |
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Less |
EXPENSES |
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Cost of goods sold |
281.663 |
71.976 |
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Personal Cost |
3.614 |
2.647 |
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Administrative Expenses |
4.109 |
2.361 |
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Selling and Distribution Expenses |
1.811 |
0.295 |
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TOTAL (B) |
291.197 |
77.279 |
27.998 (Including
Depreciation and Financial Expenses) |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.696 |
3.432 |
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Less |
FINANCIAL
EXPENSES (D) |
4.348 |
1.942 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.348 |
1.490 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.332 |
0.317 |
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PROFIT BEFORE
TAX (E-F) (G) |
5.016 |
1.173 |
0.207 |
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Less |
TAX (H) |
1.646 |
0.349 |
0.067 |
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PROFIT AFTER TAX
(G-H) (I) |
3.370 |
0.824 |
0.140 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.814 |
0.990 |
0.850 |
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BALANCE CARRIED
TO THE B/S |
5.184 |
1.814 |
0.990 |
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IMPORTS |
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Trading Goods |
291.117 |
54.653 |
3.814 |
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TOTAL IMPORTS |
291.117 |
54.653 |
3.814 |
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Earnings Per
Share (Rs.) |
3.70 |
0.91 |
2.79 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.12
|
1.02 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.67
|
1.46 |
0.75 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.12
|
1.51 |
1.24 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.02 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.88
|
0.26 |
10.23 |
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Current Ratio (Current Asset/Current Liability) |
|
4.26
|
13.11 |
4.21 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
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Sundry Creditors |
16.005
|
2.397 |
2.010 |
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Sr. No. |
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 |
|
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 |
Yes |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FINANCIAL RESULTS:
The profit for the accounting year amounted to Rs.3.370 Millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U51433MH2004PTC147169 |
|
Name of the company |
LA CERA MALL PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
44/A Government Industrial Estate, Opposite IPCA Laboratory, M G Road, Charkop, Kandivli (West), Mumbai – 400067, Maharashtra, India E-mail Id : jrshahfca@rediffmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge Others (hypothecation of stock) |
|
Particular of charge holder |
Ing Vysya Bank Limited, Shop No.110 To 112, Ever Shines Millenium Paradise, Thakur Village, Khandivali (East), Mumbai – 400101, Maharashtra, India E-mail Id : vlaxman@vnsl.com |
|
Nature of instrument creating charge |
A] Facility Agreement. B] Deed of General Hypothecation (Collectively constitute a single charge). |
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Date of instrument Creating the charge |
11.11.11 |
|
Amount secured by the charge |
Ra.100.000 Millions |
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Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest OD-SIT/BD : IVBR + 1.80% (ROI as on date @ 10.45%). Terms of Repayment OD-SIT/BD : Repayable on demand in lumpsum . Margin As may be stipulated by the Bank from time to time in terms of its Letter/s of sanction. Extent and Operation of the charge First charge in favour of the Bank on entire Hypothecated Assets of the Company. Others OD-SIT/BD : Rs.80.000 Millions. FLC (Sublimit to OD-SIT/BD) : Rs.(60.000 Millions. BC (Sublimit to OD-SIT/BD) : Rs.(60.000 Millions. ILC/FLC : Rs.20.000 Millions. BC (Sublimit to ILC/FLC) : Rs.(20.000) Millions |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
All kinds of Interior & Exterior Building Material which are already stored and to be stored from time to time in that shop premises bearing List attached to the Agreement. Hypothecation of present and future Current Assets and Movable/intangible fixed assets of the company (other than Vehicles). Hypothecation of all the Book Debts of the Company both present and future. |
FIXED ASSETS:
- Electrical installation
- Furniture and Fixtures
- Air conditioner
- Xerox Machines
- Motor Car
- Computer
- Office Equipments
- Tempo
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.51.98 |
|
|
1 |
Rs.83.68 |
|
Euro |
1 |
Rs.67.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
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.