MIRA
INFORM REPORT
|
Report Date : |
25.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
GRETA CERATECH PRIVATE LIMITED (w.e.f. 27.12.2010) |
|
|
|
|
Formerly Known
As : |
HILTI CERATECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8A, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-051475 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.288 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26914GJ2007PTC051475 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTH00927D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH9004K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Wall Tiles. |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 52000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported to be fair. Business is active. Payment are
reported to be usually correct and as per commitment. The company can be considered for normal business dealing 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
|
Name : |
Mr. Rahul |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9909972190 |
|
Date : |
25.10.2012 |
LOCATIONS
|
Registered Office/ Factory : |
8A, National Highway, Matel Road, Wankaner, Dhuva- 363622, Gujarat,
India |
|
Tel. No.: |
91-2828-287528 |
|
Mobile No.: |
91-9909972190 (Mr. Rahul) |
|
Fax No.: |
91-2828-287628 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.07.2012
|
Name : |
Mr. Gautamkumar Ashokbhai Khant |
|
Designation : |
Director |
|
Address : |
8, Galaxy Appartment, Somnath Society,
Nr. Diamond Hall, Ravapar Road, Morbi-363641, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
10.12.1983 |
|
Date of Appointment : |
09.08.2007 |
|
DIN No.: |
00182418 |
|
|
|
|
Name : |
Mr. Ashokkumar Gopaldas Khant |
|
Designation : |
Director |
|
Address : |
8, Galaxy Apartment, Somnath Society,
Near Diamond Hall, Morbi-363641, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
07.08.1958 |
|
Date of Appointment : |
09.08.2007 |
|
DIN No.: |
00580361 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ashokbhai Gopaldas Khant |
|
15120 |
|
Gautam Ashokbhai Khant |
|
16000 |
|
Kishorbhai Kantilal Dalsaniya |
|
6940 |
|
Ankitaben Vishalbhai Javia |
|
3000 |
|
Vishal Rajendrakumar Javia |
|
5000 |
|
Pankaj Shivabhai Vasyani |
|
5200 |
|
Rakesh Mansukhlaf Dalsaniya |
|
9290 |
|
Jamnaben Muljibhai Faldu |
|
10000 |
|
Harjivan Vashrambhai Vithalpara |
|
4500 |
|
Dinesh Parshottambhai Bhumtariya |
|
9950 |
|
Total |
|
85000 |
Equity Share Break up (Percentage of Total Equity)
As on 31.07.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
72.15 |
|
Other top fifty shareholders |
27.85 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Wall Tiles. |
|
|
|
|
Exports : |
Going to start |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
10 (Approximately) |
|
|
|
|
Bankers : |
Bank of India,
Opposite Sadbhavana Hospital, Jail Road, Branch, Morbi - 363641, Gujarat,
India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Sharda and Associates Chartered Accountants |
|
Address : |
8 - 13, Ashapura Tower, Sanala Road, Morbi-363641, Gujarat, India |
|
PAN No.: |
AAAFZ3476D |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 1.438 Millions
As on 31.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
228806 |
Equity Shares |
Rs.10/- each |
Rs.2.288 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.438 |
1.438 |
1.398 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.395 |
|
|
3] Reserves & Surplus |
11.657 |
10.001 |
11.687 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(2.053) |
|
|
NETWORTH |
13.095 |
11.439 |
11.427 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
65.812 |
28.052 |
29.517 |
|
|
2] Unsecured Loans |
|
33.985 |
21.267 |
|
|
TOTAL BORROWING |
65.812 |
62.037 |
50.784 |
|
|
DEFERRED TAX LIABILITIES |
0.361 |
0.349 |
0.324 |
|
|
|
|
|
|
|
|
TOTAL |
79.268 |
73.825 |
62.535 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
22.162 |
24.861 |
28.905 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.312 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
38.620
|
29.365 |
24.244 |
|
|
Sundry Debtors |
30.323
|
27.719 |
25.326 |
|
|
Cash & Bank Balances |
3.712
|
2.205 |
1.286 |
|
|
Other Current Assets |
0.099
|
0.111 |
5.930 |
|
|
Loans & Advances |
6.287
|
5.665 |
1.027 |
|
Total
Current Assets |
79.041
|
65.065 |
57.813 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.302
|
|
23.270 |
|
|
Other Current Liabilities |
6.737
|
3.355 |
|
|
|
Provisions |
0.895
|
0.062 |
1.260 |
|
Total
Current Liabilities |
21.935
|
16.101 |
24.530 |
|
|
Net Current Assets |
57.106
|
48.964 |
33.283 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.035 |
|
|
|
|
|
|
|
|
TOTAL |
79.268 |
73.825 |
62.535 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
117.212 |
|
NA |
|
|
|
Other Income |
0.890 |
2.055 |
|
|
|
|
TOTAL |
118.102 |
98.539 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
116.053 |
98.492 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.049 |
0.047 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX
|
0.393 |
0.036 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER
TAX |
1.656 |
0.011 |
NA |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.656 |
0.011 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.40
|
0.01 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.75
|
0.05 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.02
|
0.05 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Net worth) |
|
0.16
|
0.00 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Net worth) |
|
6.70
|
6.83 |
6.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.60
|
4.04 |
2.36 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITOR
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditor |
14.302
|
12.684 |
NA |
|
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 |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two 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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
REVIEW OF
OPERATIONS:
During the year, the company’s operational performance was satisfactory.
The company has achieved sales turnover of Rs.117.212 Millions and net profit
of Rs. 1.656 Millions. The company’s marketing network is very good and now we
are focusing on operational efficiency, reduction of cost at all levels and
better working capital management. The product of the company is receiving good
response in the market. The directors are hopeful and enthusiastic about the
future prospects of the company.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U26914GJ2007PTC051475 |
|
Name of the company |
GRETA CERATECH PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
8A, National Highway, Matel Road, Wankaner, Dhuva- 363622, Gujarat,
India Email: gretatiles@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10088371 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Bank of India, Opposite Sadbhavana Hospital, Jail Road, Branch, Morbi
- 363641, Gujarat, India Email: morvi.rajkot@bankofindia.com
|
|
Nature of instrument creating charge |
Supplemental Memorandum of Deposit of Title Deeds |
|
Date of instrument Creating the charge |
20.06.2012 |
|
Amount secured by the charge |
Rs.57.021 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Term Loan: 2.5% over base rate + TP 0.5% presently 13.5% p.a. with
monthly rests Cash Credit: 2.50% above base rate presently 13% p.a. with monthly
rests Bank Guarantee :commission as per HO Guideline Terms of Repayment Term Loan 1: 66 monthly installments of Rs. 0.463 Millions after 6
months form first disbursement. Term Loan 2: 66 Monthly Installments of Rs. 0.251 Millions commence
from October, 2012 Cash Credit: on Demand Bank Guarantee : As per HO Guideline Margin Term Loan : 25% on Existing Plant and Machinery, 25% on New Plant and
Machinery, 25 % on One time LC Cash Credit: 25% on Hypothecation of Stocks, 40% on Hypothecation of
Book-debts LC: 25% on DP/DA 90 Days Bank Guarantee: 25% Extent and Operation of the charge Equitable Mortgage by way of Industrial Land and Building, as a
continuing security as mentioned in Column No.15 below to secure for the
repayment of Rs.57.021 Millions together with interest, costs, charges,
expenses and other moneys due and payable by the Company to the Bank |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Equitable Mortgage of Land and Building situated at Matel Road,
Villaged Dhuva, Taluka Wankaner, District Rajkot, Land Adm. 19020 Sq. Mtrs.
owned by Mr. Ashok G. Khant director of the Company. |
|
Particulars of the present modification |
The Credit Facility Granted by the Bank Shall also be Secured by way
of Equitable Mortgage of Immovable Property of the Company. |
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 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 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.53.59 |
|
|
1 |
Rs.85.81 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
4 |
|
--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 |
|
44 |
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.