MIRA INFORM REPORT
|
Report Date : |
07.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARVATI FABRICS LIMITED (w.e.f.31.10.2010) |
|
|
|
|
Formerly Known
As : |
PARVATI FABRICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Parvati House”, F-Tower, Shree Kuberji Textile Park, Behind Belgium
Square, Delhi Gate, Ring Road, Surat - 395002, Gujarat |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.06.1994 |
|
|
|
|
Com. Reg. No.: |
04-022243 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.980 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119GJ1994PTC022243 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTP00783G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Non-Woven Fabric,
Shopping Bags and Women Ethics Wear |
|
|
|
|
No. of Employees
: |
55 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 320000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
External borrowing of the company has increase in 2012. However, trade
relations are reported as fair. Business is active. Payments terms are
reported to be usually correct and as commitments. The company can be considered normal for business dealings at usual trade
terms and conditions. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 : |
Mr. Vikash Dineshkumar Pacheriwal |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9377702042 |
|
Date : |
06.08.2013 |
LOCATIONS
|
Registered Office / Factory : |
“Parvati House”, F-Tower, Shree Kuberji Textile Park, Behind Belgium
Square, Delhi Gate, Ring Road, Surat-395002, Gujarat, India |
|
Tel. No.: |
91-261-3257796 / 3251611 |
|
Mobile No.: |
91-9377702042 (Mr. Vikash Dineshkumar Pacheriwal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Vikash Dineshkumar Pacheriwal |
|
Designation : |
Managing Director |
|
Address : |
C – 4201, 1st Floor, Raghukul Textile Market, |
|
Date of Birth/Age : |
07.02.1974 |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
01299868 |
|
|
|
|
Name : |
Mr. Dinesh Kedarnath Pacheriwal |
|
Designation : |
Director |
|
Address : |
1001, Padamkruti Apartment, Near Navpad Apartment, City Light Area, |
|
Date of Birth/Age : |
02.07.1951 |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
00664783 |
|
|
|
|
Name : |
Mr. Vishal Dinesh Pacheriwal |
|
Designation : |
Whole Time Director |
|
Address : |
1001, Padamkruti Apartment, Near Navpad Apartment, City Light Area, |
|
Date of Birth/Age : |
27.08.1978 |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
00648232 |
|
|
|
|
Name : |
Ms. Shardadevi Dineshkumar Pacheriwal |
|
Designation : |
Whole Time Director |
|
Address : |
1001, Padamkruti Apartment, Near Navpad Apartment, City Light Area, |
|
Date of Birth/Age : |
15.10.1952 |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
01013115 |
|
|
|
|
Name : |
Mrs. Shalini Pacheriwal |
|
Designation : |
Whole-Time Director |
|
Address : |
C-4201, 2nd Floor, Raghukul Market, Ring Road, Surat – 395002, Gujarat, India |
|
Date of Birth/Age : |
20.08.1980 |
|
Date of Appointment : |
25.08.2012 |
|
DIN No.: |
02964280 |
|
|
|
|
Name : |
Mrs. Veena Vikash Pacheriwal |
|
Designation : |
Whole-Time Director |
|
Address : |
D - 308, Surya Palace,, City Light Road, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
15.06.1974 |
|
Date of Appointment : |
25.08.2012 |
|
DIN No.: |
06362662 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Kumar
Pacheriwal |
|
41910 |
|
Vikash Pacheriwal |
|
60445 |
|
Suresh Agarwal |
|
2000 |
|
Simple Pacheriwal |
|
3000 |
|
Dinesh
Kr.Pacheriwal - Huf |
|
37050 |
|
Vishal Pacheriwal |
|
39775 |
|
Shardadevi
Pacheriwal |
|
48880 |
|
Veena Pacheriwal |
|
34140 |
|
Rakesh Agarwal |
|
30900 |
|
Shalini Pacheriwal
|
|
16440 |
|
Kanaiyalal Rewar |
|
2533 |
|
Pushpa Goenka |
|
3750 |
|
Urmila Agarwal |
|
8500 |
|
Suresh Agarwal |
|
17500 |
|
Vinodkumar Goenka |
|
5000 |
|
Ratanlal Agarwal |
|
15000 |
|
Manojkumar Budhia |
|
100 |
|
Satyanarayan Pawankumar Re: Satyanarayan Pawankumar HUF |
|
100 |
|
Pawan Kumar Agarwal |
|
100 |
|
Ratanlal
Agarwal (Huf) |
|
100 |
|
Manish Hetanpuria |
|
200 |
|
Pramod Agarwal |
|
100 |
As on 25.10.2012
|
Names of Allottee |
|
No. of Shares
Allotted |
|
Bajrang Lai Singhania S/o. Poonamchand Singhania |
|
6700 |
|
Vishnu Singhania S/o. Bajrang Lai Singhania |
|
6700 |
|
Bajrang Lai Singhania Re: Bajrang Lai Singhania - HUF |
|
6700 |
|
Raghuveer Prasad Singhania Re: Raghuveer Prasad Singhania- HUF |
|
6700 |
|
Rakesh Agarwal S/o. Jagdishprasad Agarwal |
|
2415 |
|
Manoj omprakash Mandal S/o. omprakash Mandal |
|
1800 |
|
Rinky Agarwal W/o. Rakesh Agarwal |
|
2800 |
|
Neha Hetampuria W/o. Manish Hetampuria |
|
1440 |
|
Pushpraj Pandey S/o. BrijeshKumar Pandey |
|
1600 |
|
Total |
|
36855 |
As on 31.03.2013
|
Names of Allottee |
|
No. of Shares
Allotted |
|
Urmila Agarwal W/o. Ratan Agarwal |
|
14155 |
|
Rinky Agarwal W/o. Rakesh Agarwal |
|
4000 |
|
Rakesh Agarwal S/o. Jagdishprasad Agarwal |
|
2665 |
|
Manish Hetampuria S/o. Jagdishprasad Agarwal |
|
4620 |
|
Mukesh Agarwal S/o. Damodar Prasad Agarwal |
|
8250 |
|
Kanhaiyalal Rewar S/o. Shivbhagwan Rewar |
|
10000 |
|
Premsukh Sharma Re: Premsukh Sharma – HUF |
|
4000 |
|
Ratanlal Agarwal S/ o. Jagdishprasad Agarwal |
|
11750 |
|
Santosh Sharma W/o. Ram Prasad Sharma |
|
4000 |
|
Papita Sharma D/o. Mahaveer Prasad Sharma |
|
2690 |
|
Pushpa Sharma W/o. Sagarmal Sharma |
|
4410 |
|
Shyam Sunder Sharma S/o. Rameshwar Lai Sharma |
|
2000 |
|
Vishnu Kant Sharma S/o. Bansidhar Sharma |
|
2665 |
|
Dinesh Sharma S/o. Kesardeo Sharma |
|
2665 |
|
Devkinandan Joshi S/o. Sagarmal Joshi |
|
1330 |
|
Pramod Agarwal S/o. Vinod Agarwal |
|
4510 |
|
Manali Modi W/o. Alok Modi |
|
20000 |
|
Total |
|
103710 |
As on 31.03.2013
|
Names of Allottee |
|
No. of Shares
Allotted |
|
Ambsingh Rajpurohit S/o. Narayansingh Rajpurohit |
|
4900 |
|
Pawan Kumar Agarwal S/ o. Satya Narayan Agarwal |
|
1450 |
|
Binod Kumar Goenka S/o. |
|
2500 |
|
Pushpa Goenka W/o. Binod Kumar Goenk |
|
4445 |
|
Pawan Kumar Agarwal Rep. Satyanarayan Pawan Kumar Agarwal - HUF |
|
1475 |
|
Usha Sinwal W/o. Rajkumar Sinwal |
|
2950 |
|
Total |
|
17720 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
32.97 |
|
Directors or relatives of Directors |
63.65 |
|
Other top fifty shareholders |
3.38 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Non-Woven Fabric,
Shopping Bags and Women Ethics Wear |
|
|
|
|
Products : |
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|
|
|
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Exports : |
|
|
Products : |
Fabrics |
|
Countries : |
·
Saudi ·
Middle East Countries |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material and Finished Goods |
|
Countries : |
European Countries |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
55 (Approximately) |
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Bankers : |
Oriental Bank of commerce, Jash Textile Market, Ring Road, Surat –
395002, Gujarat, India |
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|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
PKMG and Company Chartered Accountants |
|
Address : |
7011, World Trade Centre, Ring Road, Surat - 395002, Gujarat, India |
|
Tel. No.: |
91-261-2302334/3912334 |
|
Fax No.: |
91-261-3912333 |
|
PAN No.: |
AAIFP8989K |
CAPITAL STRUCTURE
After 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1456324 |
Equity Shares |
Rs.10/- each |
Rs.14.563 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1298039 |
Equity Shares |
Rs.10/- each |
Rs.12.980 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
12.980 |
12.558 |
|
(b) Reserves & Surplus |
|
68.892 |
58.908 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.024 |
|
Total
Shareholders’ Funds (1) + (2) |
|
81.872 |
71.490 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
165.752 |
96.646 |
|
(b) Deferred tax liabilities (Net) |
|
1.043 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
166.795 |
96.646 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
59.880 |
31.288 |
|
(b) Trade payables |
|
30.706 |
19.737 |
|
(c) Other current
liabilities |
|
36.852 |
26.217 |
|
(d) Short-term provisions |
|
8.810 |
5.991 |
|
Total Current Liabilities (4) |
|
136.248 |
83.233 |
|
|
|
|
|
|
TOTAL |
|
384.915 |
251.369 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
188.323 |
68.802 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.604 |
78.467 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.188 |
|
(d) Long-term Loan and Advances |
|
8.623 |
0.881 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
197.550 |
148.338 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
68.679 |
34.159 |
|
(c) Trade receivables |
|
111.189 |
52.476 |
|
(d) Cash and cash
equivalents |
|
3.580 |
2.704 |
|
(e) Short-term loans and
advances |
|
3.656 |
13.344 |
|
(f) Other current assets |
|
0.261 |
0.348 |
|
Total Current Assets |
|
187.365 |
103.031 |
|
|
|
|
|
|
TOTAL |
|
384.915 |
251.369 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.678 |
|
|
2] Share Application Money |
|
|
0.024 |
|
|
3] Reserves & Surplus |
|
|
41.483 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
51.185 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
44.663 |
|
|
2] Unsecured Loans |
|
|
33.115 |
|
|
TOTAL BORROWING |
|
|
77.778 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.101 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
129.064 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
67.966 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
24.563
|
|
|
Sundry Debtors |
|
|
63.600
|
|
|
Cash & Bank Balances |
|
|
2.195
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
15.330
|
|
Total
Current Assets |
|
|
105.688 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
40.204
|
|
|
Other Current Liabilities |
|
|
0.677
|
|
|
Provisions |
|
|
3.709
|
|
Total
Current Liabilities |
|
|
44.590 |
|
|
Net Current Assets |
|
|
61.098
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
129.064 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
357.999 |
280.718 |
289.996 |
|
|
|
Other Income |
1.411 |
1.521 |
0.580 |
|
|
|
TOTAL (A) |
359.410 |
282.239 |
290.576 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
125.632 |
|
|
|
|
|
Purchase of Finished Goods |
27.770 |
51.358 |
|
|
|
|
(Increase)/ Decrease in inventories of finished goods, work in
progress and stock-in-trade |
(33.559) |
(7.134) |
262.864 |
|
|
|
Employees Benefit Exposes |
26.064 |
20.931 |
|
|
|
|
Others Expenses |
157.558 |
179.562 |
|
|
|
|
TOTAL (B) |
303.465 |
254.463 |
262.864 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
55.945 |
27.776 |
27.712 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.415 |
6.772 |
6.717 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
35.530 |
21.004 |
20.995 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.894 |
12.574 |
13.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.636 |
8.430 |
7.265 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.379 |
2.526 |
2.232 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.257 |
5.904 |
5.033 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
19.251 |
13.347 |
8.314 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
26.508 |
19.251 |
13.347 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.00 |
4.70 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.02
|
2.09 |
1.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.97
|
3.00 |
2.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.77
|
4.88 |
4.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.12 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.76
|
1.79 |
1.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.24 |
2.37 |
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 |
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 three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
NOTE
Registered office has been shifted from C – 4201-4206, Second Floor,
Lift No.21, Raghukul Textile Market, Ring Road, Surat–395002, Gujarat, India to
the present address w.e.f.02.05.2011.
YEAR IN RETROSPECT
AND FUTURE OUTLOOK:
The company has improved both in terms of revenue and income. The company has achieved turnover of Rs.357.999 Millions as against turnover of Rs.280.718 Millions in previous year. The company has earned net profit after tax of Rs.7.257 Millions during the year. It is due to the efforts put in by the directors of the company towards efficient management, providing better quality product, customer satisfaction; strong outlook and dedication to work that have resulted into satisfactory performance of the company. The directors are devising various new strategies to further improve the profitability and performance of the company and are hopeful that the company will grow manifold in coming years.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
From Directors |
14.284 |
7.635 |
|
From shareholders and Relatives |
25.663 |
12.993 |
|
From Inter-Corporate |
60.652 |
31.394 |
|
Total |
100.599 |
52.022 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10373837 |
24/07/2012 |
7,000,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT, Gujarat - 395002, INDIA |
B56972490 |
|
2 |
10269581 |
31/01/2011 |
89,400,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT, Gujarat - 395002, INDIA |
B06790422 |
|
3 |
10240608 |
21/08/2010 |
3,750,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT, Gujarat - 395002, INDIA |
A94396421 |
|
4 |
10163764 |
12/06/2009 |
32,475,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT, Gujarat - 395002, INDIA |
A64567258 |
|
5 |
90102511 |
16/08/2012 * |
147,607,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT, Gujarat - 395002, INDIA |
B56972029 |
|
6 |
90099577 |
08/10/2011 * |
66,000,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT, Gujarat - 395002, INDIA |
B24554990 |
|
7 |
90096693 |
26/09/2005 * |
1,500,000.00 |
ORIENTAL BANK OF COMMERCE |
RING ROAD, SURAT, Gujarat, INDIA |
- |
|
8 |
90099276 |
17/10/2002 * |
1,500,000.00 |
ORIENTAL BANK OF COMMERCE |
BESEMENT SASH TEXTILE MARKET, KING ROAD, SURAT, Gujarat, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Plant and Machinery
- A.C Plant
- Generator
- Factory Electric Installation
- Office Equipments
- Furniture and Fixtures
- Computers
- Electrical Installation
- 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 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] 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.61.54 |
|
|
1 |
Rs.94.37 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.