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Report Date : |
01.04.2013 |
IDENTIFICATION DETAILS
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Name : |
SHREE TIRUPATI BALAJEE AGRO TRADING COMPANY PRIVATE LIMITED |
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Registered
Office : |
Plot No-192, Sector-1, Pithampur, Dhar – 454775, Madhya Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
23.10.2001 |
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Com. Reg. No.: |
10-014855 |
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Capital
Investment / Paid-up Capital : |
Rs. 15.966 Millions |
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CIN No.: [Company Identification
No.] |
U2520MP2001PTC014855 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BPLS05580B |
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PAN No.: [Permanent Account No.] |
AAGCS3449G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
A Company is mainly engaged in the business of Manufacturing of
HDPE/PP Woven Sacks Fabric. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 673000 |
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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 a moderate track record.
profitability of the company appears to be low. However, trade relations are reported
as fair. Business is active. Payments are reported to slow but correct. The company can considered for 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 – June 30, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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Source
: CIA |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Crisil |
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Rating |
Cash Credit (BB) |
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Rating Explanation |
Moderate risk of default |
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Date |
24.02.2011 |
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.
LOCATIONS
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Registered Office : |
Plot No-192, Sector-1, Pithampur, Dhar – 454775, |
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Tel. No.: |
91-7292-417750-79 (EPBX) |
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Fax No.: |
91-7292-417761 |
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E-Mail : |
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Website : |
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Head Office : |
321 / 418 – 421, |
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Tel. No.: |
91-731-4061957 / 4217400-30 (EPBX) |
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Fax No.: |
91-731-4069782 |
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E-Mail : |
DIRECTORS
As on : 29.09.2012
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Name : |
Mr. Binod Kumar Agarwal |
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Designation : |
Whole-time Director |
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Address : |
203, |
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Date of Birth/Age : |
04.02.1964 |
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Date of Appointment : |
29.10.2001 |
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DIN No.: |
00322536 |
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Other Directorship:
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Name : |
Ms. Sunita Agarwal |
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Designation : |
Director |
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Address : |
203, |
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Date of Birth/Age : |
26.06.1966 |
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Date of Appointment : |
23.10.2001 |
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DIN No.: |
00322594 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 29.09.2012
|
Names of Shareholders |
No. of Shares |
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Sunita Agrawal |
85308 |
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Pawan Kumar Agrawal |
35 |
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Binod Kumar Agrawal |
7816 |
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Surendra Patwa |
63 |
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Nageshwar Vinimay |
295513 |
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Anant Tresim Private Limited, |
423291 |
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Jagannath Plastics Private Limited, |
455106 |
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Honourable Packaging Private Limited, |
215000 |
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Vinita Software Private Limited, |
65000 |
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Anant Textiles Private Limited, |
49500 |
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Total |
1596632 |
Equity Share Break up (Percentage of Total Equity)
As on : 29.09.2012
|
Category |
Percentage |
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Bodies corporate |
94.16 |
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Directors or relatives of Directors |
5.83 |
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Other top fifty shareholders |
0.01 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
A Company is mainly engaged in the business of Manufacturing of
HDPE/PP Woven Sacks Fabric. |
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Products : |
·
Plastic Bags ·
Plastic Fabrics |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
Bank of Email-ID : palasia.indore@bankofindia.co.in ·
Bank of ·
CITI Bank ·
HDFC Bank |
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Facilities : |
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Auditors : |
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Name : |
ABN and Company Chartered Accountants |
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Address : |
223, Milind Manore, 2, RNT Marg, |
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PAN No.: |
AACFA7738H |
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Associates/Subsidiaries : |
·
Anant Tresxim Private Limited, ·
Jagannath Plastics Private Limited, ·
Sky Logistics Private Limited, ·
Shree Tirupati Balajee FIBC Private Limited, ·
Anant Textiles Private Limited, ·
Vinita Software Private Limited, ·
Honourable Packaging Private Limited, ·
Nageshwar Vinimay Private Limited, ·
Agroline Tarpoline Private Limited, |
CAPITAL STRUCTURE
As on :29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
2000000 |
Equity Shares |
Rs 10/-each |
Rs. 20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
1596632 |
Equity Shares |
Rs. 10/-each |
Rs. 15.966 Millions |
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After 29.09.2012
Authorised Capital : Rs. 20.000 Millions
Issued, Subscribed and paid-up Capital : Rs. 16.875 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
15.966 |
11.146 |
11.146 |
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2] Share Application Money |
0.000 |
37.900 |
3.026 |
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3] Reserves & Surplus |
152.291 |
104.869 |
99.301 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
168.257 |
153.915 |
113.473 |
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LOAN FUNDS |
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1] Secured Loans |
195.528 |
151.236 |
147.486 |
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2] Unsecured Loans |
15.144 |
6.474 |
6.704 |
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TOTAL BORROWING |
210.672 |
157.710 |
154.190 |
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DEFERRED TAX LIABILITIES |
6.397 |
3.570 |
3.091 |
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TOTAL |
385.326 |
315.195 |
270.754 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
102.216 |
70.135 |
70.988 |
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Capital work-in-progress |
21.257 |
16.743 |
6.190 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
244.213
|
216.346 |
142.530 |
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Sundry Debtors |
114.023
|
81.924 |
75.951 |
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Cash & Bank Balances |
14.059
|
9.366 |
10.358 |
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Other Current Assets |
2.801
|
2.332 |
0.000 |
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Loans & Advances |
76.644
|
36.846 |
46.165 |
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Total
Current Assets |
451.740
|
346.814 |
275.004 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
130.892
|
85.535 |
0.000 |
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Other Current Liabilities |
48.405
|
26.141 |
74.944 |
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Provisions |
10.590
|
6.821 |
6.484 |
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Total
Current Liabilities |
189.887
|
118.497 |
81.428 |
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Net Current Assets |
261.853
|
228.317 |
193.576 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
385.326 |
315.195 |
270.754 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 j |
31.03.2010 |
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SALES |
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Income |
885.165 |
784.896 |
511.352 |
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Other Income |
4.334 |
4.631 |
3.388 |
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TOTAL |
889.499 |
789.527 |
514.740 |
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Less |
EXPENSES |
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|
Cost of material consumed |
732.221 |
681.278 |
437.709 |
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Increase / Decrease in inventories |
(37.732) |
(66.748) |
(41.817) |
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Employee benefits expenses |
37.979 |
34.909 |
17.349 |
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Other expenses |
97.820 |
98.894 |
67.663 |
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Provision for Grauity |
0.000 |
0.000 |
0.118 |
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TOTAL |
830.288 |
748.333 |
481.022 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
59.211 |
41.194 |
33.718 |
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Less |
FINANCIAL
EXPENSES |
39.195 |
24.392 |
18.113 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
20.016 |
16.802 |
15.605 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
12.214 |
9.793 |
8.086 |
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PROFIT BEFORE
EXTRA ORDINARY ITEMS |
7.802 |
7.010 |
0.000 |
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Add |
PRIOR PERIOD
ADJUSTMENT |
1.286 |
1.089 |
0.000 |
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PROFIT BEFORE
TAX |
9.088 |
8.099 |
7.519 |
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Less |
TAX |
5.046 |
2.531 |
1.807 |
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PROFIT AFTER TAX |
4.042 |
5.568 |
5.712 |
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BALANCE
CARRIED TO BALANCESHEET |
0.000 |
0.000 |
18.137 |
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Earnings Per
Share (Rs.) |
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Basic |
2.66 |
5.00 |
5.13 |
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Diluted |
2.66 |
5.00 |
5.13 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
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PAT / Total Income |
(%) |
0.45
|
0.71 |
1.11 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.02
|
1.02 |
1.46 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.64
|
1.94 |
2.17 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
5.26 |
0.07 |
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Debt Equity Ratio (Total Debt /Networth) |
|
1.25
|
1.02 |
1.36 |
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Current Ratio (Current Asset/Current Liability) |
|
2.38
|
2.93 |
3.78 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 |
Yes |
|
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 involved in |
------------------------ |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
Yes |
UNSECURED LOAN :
|
Particulars |
31.03.2012 Rs in Millions |
31.03.2011 Rs in Millions |
|
Short
term borrowings : |
|
|
|
Loans repayable on demand |
2.500 |
5.586 |
|
Loans and advances from related parties |
0.477 |
0.060 |
|
Other Loans and advances |
12.167 |
0.828 |
|
Total |
15.144 |
6.474 |
FIXED ASSETS :
·
Buildings
·
Plant and Machinery
·
Electrical Machines
·
Computers
·
Office Equipment
·
Furniture and Fixture
·
Motor Car
·
Motor Cycle
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 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. 54.39 |
|
|
1 |
Rs. 82.32 |
|
Euro |
1 |
Rs. 69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
|
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 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.