MIRA INFORM REPORT
|
Report Date : |
03.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
BILAKHIA HOLDINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Bilakhia House, Muktanand Marg Chala, Vapi – 396191, Gujarat |
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Country : |
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|
Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
29.04.1992 |
|
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|
Com. Reg. No.: |
04-017523 |
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Capital
Investment / Paid-up Capital : |
Rs. 150.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67120GJ1992PTC017523 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTB01685F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS4420J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Investment in Shares and Securities. |
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|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 70000000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having a fine track
record. There appears healthy growth in its turnover and profit during 2012. The
financial position is strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. In view experience promoter, the company can be considered good for
normal 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.
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 DENIED BY
|
Name : |
Mr. Sunil Jain |
|
Designation : |
Legal Department |
|
Contact No.: |
91-260-3052368 |
|
Date : |
29.04.2013 |
LOCATIONS
|
Registered Office : |
Bilakhia House, Muktanand Marg Chala, Vapi – 396191, |
|
Tel. No.: |
91-260-3052100 |
|
Fax No.: |
91-260-3052125 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Yunus Gafulbhai Bilakhia |
|
Designation : |
Director |
|
Address : |
“Parishram”, |
|
Date of Birth/Age : |
13.10.1957 |
|
Date of Appointment : |
03.10.2000 |
|
DIN No.: |
00170981 |
|
|
|
|
Name : |
Mrs. Anjum Gafulbhai Bilakhia |
|
Designation : |
Director |
|
Address : |
“Parishram”, |
|
Date of Birth/Age : |
02.08.1961 |
|
Date of Appointment : |
03.10.2000 |
|
DIN No.: |
00171014 |
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|
|
|
Name : |
Mr. Jakir Gafulbhai Bilakhia |
|
Designation : |
Director |
|
Address : |
“Parishram”, |
|
Date of Birth/Age : |
20.02.1970 |
|
Date of Appointment : |
01.09.2005 |
|
DIN No.: |
00171071 |
KEY EXECUTIVES
|
Name : |
Mr. Rammohan Venkata Chari |
|
Designation : |
Secretary |
|
Address : |
403, Royal Twins Apartment, Building No.1, Daman Road, Vapi - 396191,
Valsad, Gujarat, India |
|
Date of Birth/Age : |
01.08.1964 |
|
Date of Appointment : |
24.11.2007 |
|
PAN No.: |
AAMPC6632L |
|
|
|
|
Name : |
Mr. Sunil Jain |
|
Designation : |
Legal Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Yunus Bilakhia – Trustee, Anjum Bilakhia – Trustee, Zakir Bilakhia – Trustee A/c Yunus Bilakhia Holding Company Trust |
|
5000000 |
|
Zakir Bilakhia – Trustee, Yunus Bilakhia – Trustee, Anjum Bilakhia – Trustee A/c Zakir Bilakhia Holding Company Trust |
|
5000000 |
|
Anjum Bilakhia – Trustee, Yunus Bilakhia – Trustee, Zakir Bilakhia – Trustee A/c Anjum Bilakhia Holding Company Trust |
|
5000000 |
|
Total |
|
15000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Investment in Shares and Securities. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|
|
|
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Bankers : |
Standard Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six Road,, Ahmedabad - 380006, Gujarat, India |
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|
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Gopalakrishnan Aiyer and Company Chartered Accountant |
|
Address : |
CM- 8/13, Dharti Chambers, First Floor, N. H. No.8, Vapi – 396195,
Gujarat, India |
|
Tel. No.: |
91-260-2423293/ 2423625/ 3253293 |
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E-Mail : |
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PAN.: |
ABDPA7449K |
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Associate of
Subsidiary Company : |
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Substantial
Shareholding in the Company : |
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Subsidiary Companies : |
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19980000 |
Equity Shares |
Rs.10/- each |
Rs. 199.800 Millions |
|
2000 |
Preference Shares |
Rs.100/- each |
Rs. 0.200 Million |
|
|
Total |
|
Rs. 200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000
Millions |
|
|
|
|
|
Reconciliation of number
of Shares
|
Particular |
As at 31st March 2012 |
|
|
|
Number |
Amount (Ra) |
|
Equity Shares |
|
|
|
Shares outstanding at the beginning of the year |
1,50,00,000 |
15.00,00,000 |
|
Add: Shares Issued during the year |
- |
- |
|
Less; Shares bought back during the year |
- |
- |
|
Shares outstanding
at the end of the year |
1,50,00,000 |
15,00,00,000 |
Rights, Preference
and restrictions attached to Shares
Equity Shares:
The Company has one Class of Equity Shares having a par Value of Rs. 10 per share. Each Shareholder is entitled for one vote in case of show of hands. On a poll the voting rights of members shall be as per the section 87 of the Companies Act, 1956.
Equity Shareholders are eligible for Dividend as may be recommended by the Board and approved by the members in General Meeting.
Details of Shares
Held by Shareholders holding more than 5% of the aggregate shares in the
Company
|
Name of Shareholder |
As at 31st March 2012 |
|
|
|
No. of Shares held |
% of Holding |
|
Eouitv Shares |
|
|
|
Yunus G. Bilakhia in the capacity of trustee |
5000000 |
33.33 |
|
Anjum G. Bilakhia in the capacity of trustee |
5000000 |
33.33 |
|
Jakir G. Bilakhia in the capacity of trustee |
5000000 |
33.33 |
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 |
150.000 |
150.000 |
150.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
18337.275 |
16409.413 |
16310.915 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18487.275 |
16559.413 |
16460.915 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18487.275 |
16559.413 |
16460.915 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
10.325 |
12.693 |
20.915 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
14764.704 |
14298.651 |
13993.919 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
0.000
|
0.000
|
0.000
|
|
|
Cash & Bank Balances |
3.103
|
3.237
|
8.543
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
3765.458
|
2297.199
|
2484.952
|
|
Total
Current Assets |
3768.561
|
2300.436
|
2493.495
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.794
|
1.293
|
5.858
|
|
|
Other Current Liabilities |
42.882
|
42.933
|
39.234
|
|
|
Provisions |
12.639
|
8.141
|
2.322
|
|
Total
Current Liabilities |
56.315
|
52.367
|
47.414
|
|
|
Net Current Assets |
3712.246
|
2248.069
|
2446.081
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18487.275 |
16559.413 |
16460.915 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2356.666 |
163.126 |
280.602 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
126.843 |
61.863 |
167.519 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
126.843 |
61.863 |
167.519 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
|
2229.823 |
101.263 |
113.083 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
322.961 |
2.767 |
12.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1906.862 |
98.496 |
100.677 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4808.661 |
4729.864 |
4649.322 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
381.372 |
19.699 |
20.135 |
|
|
BALANCE CARRIED
TO THE B/S |
6334.151 |
4808.661 |
4729.864 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
127.12 |
6.57 |
6.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
80.91
|
60.38 |
35.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
59.01
|
4.38 |
4.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.01 |
0.001 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
66.92
|
43.93 |
52.59 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs
in Millions)
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors for Expenses |
0.794
|
1.293
|
5.858 |
|
Total |
0.794
|
1.293
|
5.858 |
|
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 |
No |
|
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 |
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 |
No |
COMPANY OVERVIEW
Subject is an investment company registered with the Reserve Bank of India as non deposit taking systemically important Non Banking Finance Company.
CONTINGENT LIABILITIES
(Rs in Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Corporate Guarantees given to bank on behalf of the Subsidiary company 7 million USD (P.Y -35 million Euro) |
356.160, |
2218.650 |
|
Disputed Income Tax matters, which are contested by/or against the company. |
2837.748 |
2640.752 |
FIXED ASSETS
- Plant and Machinery
- Office Equipments
- Vehicles
- Computer and Hardware
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. 53.74 |
|
|
1 |
Rs. 83.54 |
|
Euro |
1 |
Rs. 70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.