MIRA
INFORM REPORT
|
Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
BALA INDUSTRIES AND ENTERTAINMENT PRIVATE LIMITED (w.e.f. 26.10.2010) |
|
|
|
|
Formerly Known
As : |
VJ EQUIPMENT PRIVATE LIMITED (w.e.f. 31.03.2009) VJ EQUIPMENT LIMITED SAAB POWERTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Venkateshwara House, Survey No. 114/A/2, Pune – |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.03.1988 |
|
|
|
|
Com. Reg. No.: |
11-020677 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 22.091
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN1988PTC020677 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEV00039E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV7248J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Poultry Equipments. |
|
|
|
|
No. of Employees
: |
125 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 690000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Venkateshwara Hatcheries Private Limited. It is having satisfactory track record. Trade relations are fair. Business is active. Payment terms are
usually correct. 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.
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
|
Name : |
Mr. Vikas Bhat |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9860730309 |
|
Date : |
21.08.2013 |
LOCATIONS
|
Registered/ Corporate Office : |
Venkateshwara House, Survey No. 114/A/2, Pune – |
|
Tel. No.: |
91-20-24251530-41 / 91-2114-255384 / 255366 / 4332530 / 4331453 |
|
Mobile No.: |
91-9860730309 (Mr. Vikas) |
|
Fax No.: |
91-20-24251077 / 91-2114-255043 / 4332287 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Gat No. 88, Village Jambhul, Taluka Maval, District Pune – 412 106, |
|
Tel. No.: |
91-2114-255042 / 255366 / 255384 / 286520 / 286522 |
|
Fax No.: |
91-2114-255043 |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mrs. Anuradha Jitendra Desai |
|
Designation : |
Director |
|
Address : |
Venkatesh Farms, S. No. 95/1, |
|
Date of Birth/Age : |
15.05.1962 |
|
Date of Appointment : |
14.03.1996 |
|
DIN No.: |
00012212 |
|
|
|
|
Name : |
Mr. Banda Venkatesh Banda Vasudev Rao |
|
Designation : |
Director |
|
Address : |
Venkatesh Farms, S. No. 95/1, |
|
Date of Birth/Age : |
31.12.1964 |
|
Date of Appointment : |
14.03.1996 |
|
DIN No.: |
00013614 |
|
|
|
|
Name : |
Mr. Jitendra Moreshwar Desai |
|
Designation : |
Director |
|
Address : |
Venkatesh Farms, S. No. 95/1, |
|
Date of Birth/Age : |
27.04.1962 |
|
Date of Appointment : |
12.04.1993 |
|
DIN No.: |
00013533 |
|
|
|
|
Name : |
Mr. Banda Balaji Banda Vasudev Rao |
|
Designation : |
Additional director |
|
Address : |
Venkatesh Farms, S. No. 95/1, |
|
Date of Birth/Age : |
08.12.1972 |
|
Date of Appointment : |
28.10.2010 |
|
DIN No.: |
00013551 |
|
|
|
|
Name : |
Mr. Ashok Kumar Harkishan Lal Mahajan |
|
Designation : |
Director |
|
Address : |
Flat No. 304, Brownea, Nyati Estate, Mohammadwadi, Hadapsar, Pune –
411 028, |
|
Date of Birth/Age : |
20.05.1945 |
|
Date of Appointment : |
31.01.2007 |
|
DIN No.: |
00017150 |
KEY EXECUTIVES
|
Name : |
Mr. Vikas Bhat |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Anuradha Jitendra Desai |
100 |
|
B. Venketesh B Vasudev Rao |
100 |
|
Venkateshwara Hatcheries Private Limited, |
375400 |
|
Srivenk Investments and Finance Private Limited, |
374100 |
|
B Balaji B Vasudev Rao |
100 |
|
Jitendra Moreshwar Desai |
100 |
|
TOTAL
|
749900 |
|
Names of Preference Shareholders |
No. of Shares |
|
Anuradha Jitendra Desai |
137773 |
|
B. Venketesh B Vasudev Rao |
139414 |
|
B Balaji B Vasudev Rao |
198527 |
|
Jitendra Moreshwar Desai |
3 |
|
Venkateshwara Hatcheries Private Limited, |
764329 |
|
Srivenk Investments and Finance Private Limited, |
198222 |
|
Annapurbamma Meka |
10423 |
|
Seshiah Peda Mannava |
10423 |
|
TOTAL
|
1459114 |
AS ON 27.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
99.95 |
|
Directors or relatives of Directors |
0.05 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Poultry Equipments. |
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Products : |
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Exports : |
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||||||||
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Products : |
·
Poultry Equipments |
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Countries : |
·
Africa Countries ·
Gulf Countries |
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Terms : |
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|
Selling : |
Cash, Credit |
||||||||
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|
||||||||
|
Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Setters and Hatchers |
Nos. |
180 |
313 |
NOTES:
1.
Licensed capacity being not applicable has not been
indicated.
2.
The installed capacity has been certified by the
Company, this being a technical matter.
3.
Actual production includes production of various
capacities of Setters and Hatchers and also includes quantities manufactured
through subcontractors.
4.
In view of heterogeneous nature of products and
denomination of trading items being dissimilar in nature, it is impracticable
to furnish quantitative / value of trading goods purchased and sold during the
year.
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
|
|
|
|
No. of Employees : |
125 (Approximately) |
|
|
|
|
Bankers : |
·
Bank of Maharashtra, Agri Hi-Tech Branch,
Sinhagad Road, Pune-411030, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Prashant V Deo Chartered Accountant |
|
Address : |
Flat No 11, Building No 8 - B, Laxminarayan Nagar, No.4,
Co-Operative Housing Society, Erandawana, Pune-411004, Maharashtra, India |
|
PAN No.: |
ABAPD7786M |
|
|
|
|
Holding Company : |
Venkateshwara Hatcheries Private Limited CIN No.: - U01222AP1971PTC001422 |
|
|
|
|
Subsidiaries : |
·
Bala Entertainment USA Inc. |
|
|
|
|
Fellow Subsidiaries : |
·
Eastern Hatcharies Private Limited ·
Venky’s (India) Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8620000 |
Equity Shares |
Rs.10/- each |
Rs. 86.200 Millions |
|
12000000 |
10% Non Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 120.000 Millions |
|
|
TOTAL |
|
Rs. 206.200
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 Millions |
|
100 |
Less:- Equity Shares |
Rs.10/- each |
Rs. 0.001 Million |
|
1459114 |
10% Non Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 14.591 Millions |
|
100 |
Equity Shares |
Rs.10/- each |
Rs. 0.001 Million |
|
|
TOTAL |
|
Rs. 22.091
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 |
|
22.091 |
7.500 |
|
(b) Reserves & Surplus |
|
152.543 |
101.838 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
174.634 |
109.338 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.042 |
|
(d) long-term provisions |
|
1.568 |
0.953 |
|
Total Non-current Liabilities (3) |
|
1.568 |
0.995 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
16.800 |
0.000 |
|
(b) Trade payables |
|
35.581 |
32.908 |
|
(c) Other current
liabilities |
|
44.053 |
37.729 |
|
(d) Short-term provisions |
|
1.114 |
5.298 |
|
Total Current Liabilities (4) |
|
97.548 |
75.935 |
|
|
|
|
|
|
TOTAL |
|
273.750 |
186.268 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
20.473 |
8.456 |
|
(ii) Intangible Assets |
|
0.007 |
0.011 |
|
(iii) Capital
work-in-progress |
|
6.566 |
0.000 |
|
(b) Non-current Investments |
|
36.665 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.945 |
1.100 |
|
(d) Long-term Loan and Advances |
|
24.143 |
1.057 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
88.799 |
10.624 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
31.413 |
64.584 |
|
(b) Inventories |
|
71.939 |
39.661 |
|
(c) Trade receivables |
|
45.834 |
45.782 |
|
(d) Cash and cash
equivalents |
|
21.960 |
7.748 |
|
(e) Short-term loans and advances |
|
13.555 |
17.687 |
|
(f) Other current assets |
|
0.250 |
0.182 |
|
Total Current Assets |
|
184.951 |
175.644 |
|
|
|
|
|
|
TOTAL |
|
273.750 |
186.268 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
7.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
68.331 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
75.831 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
75.831 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4.883 |
|
|
Capital work-in-progress |
|
|
0.325 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
57.974 |
|
|
DEFERREX TAX ASSETS |
|
|
1.086 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
15.862
|
|
|
Sundry Debtors |
|
|
15.748
|
|
|
Cash & Bank Balances |
|
|
2.363
|
|
|
Other Current Assets |
|
|
0.321
|
|
|
Loans & Advances |
|
|
7.611
|
|
Total
Current Assets |
|
|
41.905 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
11.628
|
|
|
Other Current Liabilities |
|
|
11.903
|
|
|
Provisions |
|
|
6.811
|
|
Total
Current Liabilities |
|
|
30.342 |
|
|
Net Current Assets |
|
|
11.563
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
75.831 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
652.806 |
263.230 |
106.571 |
|
|
|
Other Income |
5.215 |
9.999 |
4.436 |
|
|
|
TOTAL |
658.021 |
273.229 |
111.007 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
589.998 |
157.366 |
50.247 |
|
|
|
Processing Charges |
|
10.315 |
4.266 |
|
|
|
Personnel Expenses |
|
12.949 |
9.277 |
|
|
|
Operating, Farm, Movie and Other Expenses |
|
54.706 |
11.764 |
|
|
|
(Increase/ Decrease in Inventories |
|
(14.394) |
2.089 |
|
|
|
TOTAL |
589.998 |
220.942 |
77.643 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
[Including Financial |
52.287 |
33.364 |
|
|
|
|
Expenses |
|
|
|
|
Less |
FINANCIAL
EXPENSES |
And |
0.251 |
0.581 |
|
|
|
|
Depreciation] |
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
52.036 |
32.783 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.526 |
0.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX AND PRIOR PERIOD ITEMS |
|
50.510 |
31.893 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ITEMS |
|
0.017 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
68.023 |
50.493 |
31.893 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
24.717 |
16.986 |
12.220 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
43.306 |
33.507 |
19.673 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
65.694 |
46.021 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA
|
99.201 |
65.694 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Machinery at FOB Value |
13.755 |
20.837 |
9.766 |
|
|
|
Export Service Income at FOB value |
0.000 |
0.108 |
0.084 |
|
|
TOTAL EARNINGS |
13.755 |
20.945 |
9.850 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
45.717 |
7.719 |
4.347 |
|
|
TOTAL IMPORTS |
45.717 |
7.719 |
4.347 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
57.75 |
44.68 |
26.23 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
340.000 |
|
|
|
|
|
The above information has been parted by Mr. Vikas Bhat.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.58
|
12.26 |
17.72
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.42
|
19.18 |
29.93
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.63
|
27.27 |
68.17
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.46 |
0.42
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90
|
2.31 |
1.38
|
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 |
Yes |
|
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 |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Short Term
Borrowings |
|
|
|
Inter Corporate Deposit from a Related Party |
16.800 |
0.000 |
|
|
|
|
|
TOTAL |
16.800 |
0.000 |
CORPORATE
INFORMATION
Subject is a private limited company domiciled in India and incorporated
under the provisions of the Companies Act, 1956. The Company is engaged in the
manufacturing and selling of Hatchers, Setters, Poultry Equipments and spares.
The company is also engaged in Poultry business and Entertainment activity. The
company caters to both domestic and international markets.
AMALGAMATION
As the members are aware, during the year, the company has undertaken
amalgamation of M/s Ventakteshwara Engineering Industries Private Limited, M/s
Venka Investments Private Limited and M/s Bala Entertainment International
Private Limited with the Company. The amalgamation was sanctioned by the
Hon’ble High Court, Bombay Vide its order dated 17th August, 2012. A
copy of the order was filed with the Registrar of Companies, Pune on 30th
August 2012. The order shall be effective from 1st April 2011.
In terms of the scheme of amalgamation the equity share holders of
Venkateshwara Engineering Industries Private Limited, Venka Investments Private
Limited and the preference shareholders of Bala Entertainment International Private Limited were allotted 1459114,
10% non-cumulative redeemable preference shares of Rs. 10/- each. The 100
equity share of Rs. 10/- each held by Venka Investments Private Limited in the
Company shall cancelled. Consequently the paid up capital of the Company has
increased to Rs. 22.091 Millions.
OPERATIONS
During the financial year 2011-2012 the Company’s revenue has increased
by 143.10% at Rs. 652.800 Millions as compared to Rs. 268.500 Millions in
previous year. Profit after tax increased by 29.25% at Rs. 43.300 Millions as
compared to Rs. 33.500 Millions in the previous year.
FIXED ASSETS
Tangible Assets
·
·
Buildings
·
Plant and Machinery
·
Furniture, Fittings and
Office Equipments
·
Vehicles
Intangible Assets
·
Software’s
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. 64.68 |
|
|
1 |
Rs. 100.79 |
|
Euro |
1 |
Rs. 86.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.