MIRA INFORM REPORT
|
Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
VICKY FASHION LIMITED |
|
|
|
|
Registered
Office : |
Unit No.232, Sanjay Building, No.5B, Mittal Industrial Estate, Andheri
Kurla Road, Andheri (East), Mumbai-400059, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
Date of
Incorporation : |
06.03.1996 |
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|
|
|
Com. Reg. No.: |
11-097900 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.17.235 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U17100MH1996PLC097900 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV06286A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading and Dealing in yarn and fabrics and readymade garments |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 300000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are reported
to be usually correct and as per 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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
|
Registered Office : |
Unit No.232, 233, Sanjay Building, No.5B, Mittal Industrial Estate,
Andheri Kurla Road, Andheri (East), Mumbai-400059, Maharashtra, India |
|
Tel. No.: |
91-22-28504030 / 40600400 |
|
Fax No.: |
91-22-28506031 / 40600426 |
|
E-Mail : |
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|
Website : |
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|
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|
Factory: |
A 482, TTC Industrial Area, MIDC Mahape, |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Prahlad Kumar Gourishankar Jhunjhunwala |
|
Designation : |
Whole time Director |
|
Address : |
6/7 Agarwal Nagar, Matunga (East), Mumbai – 400019, |
|
Date of Birth/Age : |
15.06.1951 |
|
Date of Appointment : |
27.09.2001 |
|
DIN No.: |
00215018 |
|
PAN No.: |
AAAPJ8671J |
|
|
|
|
Name : |
Mr. Santosh Gourishankar Jhunjhunwala |
|
Designation : |
Whole time Director |
|
Address : |
6/7 Agarwal Nagar, Matunga (East), Mumbai – 400019, |
|
Date of Birth/Age : |
01.06.1953 |
|
Date of Appointment : |
25.09.2000 |
|
DIN No.: |
00214947 |
|
PAN No.: |
AAEPJ8244M |
|
|
|
|
Name : |
Mr. Vicky Prahlad Kumar Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
6/7 Agarwal Nagar, Matunga (East), Mumbai – 400019, |
|
Date of Birth/Age : |
17.04.1978 |
|
Date of Appointment : |
23.02.1999 |
|
DIN No.: |
00194659 |
|
PAN No.: |
ACAPJ5724E |
|
|
|
|
Name : |
Mr. Rohit Sohanlal Chandgothia |
|
Designation : |
Director |
|
Address : |
A-703, Shikhar Kunj, Upper Govind Nagar, Malad (East), Mumbai –
400097, |
|
Date of Birth/Age : |
09.04.1971 |
|
Date of Appointment : |
25.09.2000 |
|
DIN No.: |
00215059 |
|
PAN No.: |
AAAPC6352M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Prahlad Kumar Jhunjhunwala |
|
158500 |
|
Mr. Santosh Kumar Jhunjhunwala |
|
161500 |
|
Mr. Rajni P Jhunjhunwala |
|
170000 |
|
Mrs. Nita S Jhunjhunwala |
|
261500 |
|
Mr. Sohanlal Chandgothia |
|
51010 |
|
Mrs. Lalita Devi Chandgothia |
|
3010 |
|
Mr. Rohit S. Chandgothia |
|
134510 |
|
Mr. Santosh Kumar Jhunjhunwala HUF |
|
67000 |
|
Mrs. Sushila Banka |
|
69000 |
|
Mr. Vicky Kumar Jhunjhunwala |
|
155000 |
|
Mr. Rahul Banka |
|
79000 |
|
Mrs. Bhagavati Prasad Banka |
|
276000 |
|
Mr. Prahlad Kumar Jhunjhunwala HUF |
|
70000 |
|
Mrs. Seema Rohit Chandgothia |
|
1500 |
|
Mrs. Sanjana R Banka |
|
1500 |
|
Mrs. Mittali Mulick |
|
4500 |
|
Mr. Sudhir Mulick |
|
6000 |
|
Mrs. Indhira S Mulick |
|
1500 |
|
Mr. Umang Mulik |
|
2500 |
|
Mrs. Miti Jhunjhunwala |
|
50000 |
|
|
|
|
|
Total |
|
1723530 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
98.87 |
|
Other top fifty shareholders |
1.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading and Dealing in yarn and fabrics and readymade garments |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Union Bank of India, Matunga (East) Branch, 323/A, Bhagawati Bhavan,
Dr. |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Banka and Banka Chartered Accountants |
|
Address : |
3rd Floor, Shah Trade Center, Rani Sati Marg, Off Western Express
Highway, Malad (E), Mumbai-97, Maharashtra, India |
|
PAN No.: |
AAAFB1145R |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives: |
|
CAPITAL STRUCTURE
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 |
|
|
|
|
|
|
1723530 |
Equity Shares |
Rs.10/- each |
Rs. 17.235 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
17.235 |
17.135 |
14.835 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
57.064 |
46.767 |
37.870 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
74.299 |
63.902 |
52.705 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
57.611 |
85.427 |
80.831 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
8.144 |
|
|
TOTAL BORROWING |
57.611 |
85.427 |
88.975 |
|
|
DEFERRED TAX LIABILITIES |
1.585 |
1.554 |
1.272 |
|
|
|
|
|
|
|
|
TOTAL |
133.495 |
150.883 |
142.952 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
18.994 |
19.624 |
19.308 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.938 |
28.910 |
17.839 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
40.298
|
29.688 |
23.435 |
|
|
Sundry Debtors |
92.982
|
150.183 |
171.671 |
|
|
Cash & Bank Balances |
22.922
|
31.270 |
0.933 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
31.526
|
19.722 |
44.595 |
|
Total
Current Assets |
187.728
|
230.863 |
240.634 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
62.388
|
118.219 |
130.641 |
|
|
Other Current Liabilities |
13.948
|
6.458 |
1.188 |
|
|
Provisions |
2.829
|
3.837 |
3.000 |
|
Total
Current Liabilities |
79.165
|
128.514 |
134.829 |
|
|
Net Current Assets |
108.563
|
102.349 |
105.805 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
133.495 |
150.883 |
142.952 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1845.122 |
1828.102 |
1445.841 |
|
|
|
Other Income |
18.395 |
24.066 |
31.608 |
|
|
|
TOTAL (A) |
1863.517 |
1852.168 |
1477.449 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
128.647 |
88.525 |
|
|
|
|
Purchases of stock-in-trade |
1683.815 |
1715.430 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(10.730) |
(16.138) |
|
|
|
|
Employee benefit expense |
15.930 |
13.873 |
|
|
|
|
Other expenses |
26.872 |
29.249 |
|
|
|
|
TOTAL (B) |
1844.534 |
1830.939 |
1459.942 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.983 |
21.229 |
17.507 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.035 |
6.444 |
6.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.948 |
14.785 |
10.517 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.792 |
1.764 |
1.583 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.156 |
13.021 |
8.934 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.859 |
4.124 |
2.785 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.297 |
8.897 |
6.149 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY : |
|
|
|
|
|
|
Export Earnings |
79.380 |
191.440 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.97 |
5.19 |
4.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.55
|
0.48 |
0.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.71
|
0.71 |
0.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.01
|
5.64 |
3.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.20 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.78
|
1.34 |
1.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.37
|
1.80 |
1.78 |
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 |
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 |
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: Registered office of the company has been
shifted from Unit No.232, Sanjay Building, No.5, Mittal Industrial Estate, Andheri
Kurla Road, Andheri (East), Mumbai-400059, Maharashtra, India to the present address
w.e.f.01.02.2010
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
VICKY FASHIONS LIMITED |
|
Name of the
company |
U17100MH1996PLC097900 |
|
Address of the
registered office or of the principal place of business in |
Unit No.232, 233, Sanjay Building, No.5B, Mittal Industrial Estate,
Andheri Kurla Road, Andheri (East), Mumbai-400059, Maharashtra, India |
|
This form is for |
Creation
of charge |
|
Type of charge |
Charge on Bills |
|
CIN |
U17100MH1996PLC097900 |
|
Particular of
charge holder |
Union Bank of India, Matunga (East) Branch, 323/A, Bhagawati Bhavan,
Dr. |
|
Nature of
instrument creating charge |
D.P.Note and
Letter of Hypothecation of Bills |
|
Date of
instrument Creating the charge |
13.09.2012 |
|
Amount secured by
the charge |
Rs.200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest BR+1% per annum
with monthly rests Terms of
Repayment On Demand Margin As per sanction
terms Extent and
Operation of the charge To secure Bill
Discounting under LC facility of Rs.200.000 Millions granted by the Bank to
the Company Others 2THS |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Purchase from or
negotiate a Bill or Bills of Exchange drawn or accepted or endorsed against
goods and/or merchandise (hereinafter referred to as goods) or shipping or
other documents (Cont) and/or hold such
or any other Bill or Bills of Exchange and or documents for collection on
Borrower's account under lien to the Bank |
FIXED ASSETS
- Owned and
leased assets
- Buildings
- Office
building
- Plant and
equipment
- Factory
equipments
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Computer
equipments
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.54.27 |
|
|
1 |
Rs.84.31 |
|
Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Report Prepared by
: |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
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 |
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 |
|
45 |
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.