1. Summary Information
|
Country |
India |
||
|
Company Name |
NAVRATAN
SPECIALTY CHEMICALS LLP |
Principal Name 1 |
Mr. Karana Rameshbhai Patel |
|
Status |
Recently commenced
business activity |
Principal Name 2 |
Mr. Lalit Patel |
|
Registration # |
-- |
||
|
Street Address |
401, White Cross Building, 15, Patel Society Gulbai Tekra Road,
Panchwati, Ahmedabad – 380006, Gujarat, India |
||
|
Established Date |
23.09.2011 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Manufacturing |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
PVC Coated Laminated Fabrics |
|
|
# of employees |
Not Available |
Product Name 2 |
PVC Foam Boards |
|
Paid up capital |
Rs.10,000,000/- |
Product Name 3 |
Multi-Purpose PVC Fabrics |
|
Shareholders |
Not Available |
Banking |
Dena
Bank |
|
Public Limited Corp. |
NO |
Business Period |
2 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ca
(12) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
28,798,000 |
Current Liabilities |
1,048,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
51,842,000 |
|
Fixed Assets |
24,110,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
52,890,000 |
|
Invest& other Assets |
9,982,000 |
Retained Earnings |
0,000 |
|
|
|
Net Worth |
10,000,000 |
|
Total Assets |
62,890,000 |
Total Liab. & Equity |
62,890,000 |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
0,000 |
Net Profit |
0,000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
NAVRATAN SPECIALTY CHEMICALS LLP |
|
|
|
|
Registered
Office : |
401, White Cross Building, 15, Patel Society Gulbai Tekra Road,
Panchwati, Ahmedabad – 380006, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.09.2011 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
LLPIN No.: |
AAA-6362 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business
: |
Manufacturing of PVC Coated Laminated Fabrics, PVC Foam Boards and Multi-Purpose
PVC Fabrics. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Recently commenced business activity |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the limited liability partnership firm was incorporated
during September 2011, it commenced its business activities during April
2013. Mr. Rajan Pillai has confirmed these details and reported that the
subject is engaged in the manufacturing of PVC coated laminated fabrics, PVC
foam boards, multi-purpose PVC fabrics. Business is active. Payment terms are unknown. The subject can be considered for business dealings on a safe and
secured 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 : |
401, White Cross Building, 15, Patel Society Gulbai Tekra Road,
Panchwati, Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9099949236 (Mr. Rajan Pillai) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 400, At. Chharodi Sanand Virmagam Road, Ahmedabad – 382170,
Gujarat, India |
PARTNERS
|
Name : |
Mr. Karana Rameshbhai Patel |
|
Designation : |
Partner |
|
Address : |
No. 54 Shreenath Park Society, Behind Avishkar Party Plot, Manekbaug, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
26.08.1981 |
|
PAN No.: |
AGPPP8170M |
|
Passport No.: |
E1460285 |
|
DPIN No.: |
01727321 |
|
|
|
|
Name : |
Mr. Lalit Patel |
|
Designation : |
Partner |
|
Address : |
31, Park Hill, Near Narmada Vasahat, Opposite Karnavati, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
15.02.1967 |
|
PAN No.: |
ACNPP2094C |
|
Passport No.: |
A6487835 |
|
DPIN No.: |
00011773 |
|
|
|
|
Name : |
Mr. Ankit Natwarlal Patel |
|
Designation : |
Partner |
|
Address : |
B-6, Ashok Vatika No. 1, Opposite Ekta Farm, Ambli Bopal Road, Bodakdev, Ahmedabad – 380058, Gujarat, India |
|
Date of Birth/Age : |
01.10.1985 |
|
PAN No.: |
AKGPP0621G |
|
|
|
|
Name : |
Mr. Popatbhai Meghjibhai Patel |
|
Designation : |
Partner |
|
Address : |
2, Deep Bunglows, Opposite Satya Trivani Tower, Karnavati Club Road, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
16.03.1944 |
|
PAN No.: |
AAYPP4354J |
|
|
|
|
Name : |
Mr. Praful Ganpatbhai Patel |
|
Designation : |
Partner |
|
Address : |
27-B, Raghukul Bunglows, Tulsi Park Society, Near Sola Overbridge, Thaltej, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
01.06.1974 |
|
PAN No.: |
ABCPP4796R |
|
|
|
|
Name : |
Mr. Darshan Anandbhai Patel |
|
Designation : |
Partner |
|
Address : |
53, Shreenath Park Society, Behind Manek Baug Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
27.04.1987 |
|
PAN No.: |
ARVPP1234D |
|
|
|
|
Name : |
Mr. Chintan Anandbhai Patel |
|
Designation : |
Partner |
|
Address : |
53, Shreenath Park Society, Behind Manek Baug Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
28.08.1991 |
|
PAN No.: |
BDEPP7674K |
|
|
|
|
Name : |
Mrs. Naynaben Anandbhai Patel |
|
Designation : |
Partner |
|
Address : |
53, Shreenath Park Society, Behind Manek Baug Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
04.06.1964 |
|
PAN No.: |
ABHPP4314L |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of PVC Coated Laminated Fabrics, PVC Foam Boards and
Multi-Purpose PVC Fabrics. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Dena Bank, 2nd Floor, Dena Laxmi Building, 188-A, Ashram Road, Navarangpura, Ahmedabad - 380009, Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Balakrishna T. Thakkar and Company Chartered Accountants |
|
Address : |
603, Saffron Building, Ahmedabad – 380006, Gujarat, India |
|
E-Mail : |
CAPITAL STRUCTURE
As on: 31.03.2012
PARTNER’S CAPITAL
ACCOUNT
(Rs.
In Millions)
|
Sr. No. |
Name of Partners |
% of Share |
Opening Balance 01.04.2011 |
Addition |
Total |
Withdrawals |
Profit |
Closing Balance 31.03.2012 |
|
1 |
Karana Rameshbhai Patel |
30% |
0 |
3.000 |
3.000 |
0 |
0 |
3.000 |
|
2 |
Lalit Patel |
23% |
0 |
2.300 |
2.300 |
0 |
0 |
2.300 |
|
3 |
Ankit Natwarlal Patel |
20% |
0 |
2.000 |
2.000 |
0 |
0 |
2.000 |
|
4 |
Popatbhai Meghjibhai Patel |
9% |
0 |
0.900 |
0.900 |
0 |
0 |
0.900 |
|
5 |
Praful Ganpatbhai Patel |
11% |
0 |
1.100 |
1.100 |
0 |
0 |
1.100 |
|
6 |
Darshan Anandbhai Patel |
2.5% |
0 |
0.250 |
0.250 |
0 |
0 |
0.250 |
|
7 |
Chintan Anandbhai Patel |
2.5% |
0 |
0.250 |
0.250 |
0 |
0 |
0.250 |
|
8 |
Naynaben Anandbhai Patel |
2% |
0 |
0.200 |
0.200 |
0 |
0 |
0.200 |
|
|
TOTAL |
100.00% |
0 |
10.000 |
10.000 |
0 |
0 |
10.000 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Fund |
|
|
10.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
10.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
51.842 |
|
|
TOTAL BORROWING |
|
|
51.842 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
61.842 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
24.110 |
|
|
Capital work-in-progress |
|
|
9.982 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
0.000
|
|
|
Cash & Bank Balances |
|
|
13.606
|
|
|
Other Current Assets |
|
|
0.533
|
|
|
Loans & Advances |
|
|
14.659
|
|
Total
Current Assets |
|
|
28.798
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.924
|
|
|
Other Current Liabilities |
|
|
0.124
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
1.048
|
|
|
Net Current Assets |
|
|
27.750
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
61.842 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
0.000 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
0.000 |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
0.000 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
5.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
27.48 |
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 about 7 months |
Yes |
|
12] |
Profitability for about 7 months |
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 |
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 |
No |
|
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 |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
|
As on 31.03.2012 |
|
Borrowing from Partner’s |
|
51.842 |
|
|
|
|
|
Total |
|
51.842 |
FIXED ASSETS
AS PER WEBSITE DETAILS:
Profile
Subject as a limited liability partnership company has its corporate office at Panchvati and manufacturing plant built in an area of 100 acre land in Sanand, Gujarat. Manufacturing a wide range of PVC coated/laminated fabrics, PVC foam-boards, multi-purpose PVC fabrics, etc under the brand name Mega Flex, the company has the capacity of producing 25,00,000 linier meters of PVC banner materials a month. Equipped with the latest machineries from Korea, Taiwan and Germany, Navratan boasts of its state-of-the-art manufacturing unit. This company is a new addition in the bouquet of Meghmani Group - a widely acclaimed multibillion entity engaging in manufacturing dyes, chemicals, intermediate, etc.
Making differences
Product line of Navratan consists of a range of banner and backlit materials.
“They can produce seamless width up to five meters and they even customise the
width and length of rolls as per the needs and requirements of customers,” said
Natubhai M Patel of Subject. He added that other than banner and backlit
materials, they also offer PVC foam-boards in different densities and
thickness. The materials are offered in varied gsm values starting from 240 to
440 gsm in banners; 480 and 510 gsm in backlit. And foam-boards are in
thickness ranging from 1.5 to 12 mm. Navratan’s printing materials are
manufactured from high-grade PVC and other raw materials. “And as such, their
products offer long life and stability,” mentioned Natubhai.
New plans
Broadening the company’s activities with newer aspects, Navratan is now
planning to start manufacturing UV-treated flex materials having 2-3 years
warranty soon. In this concern, Natubhai assured that such new venture of the
company will bring in added advantages to fulfill complete demands of their
customers in a wider manner. He further mentioned that Navratan has some
marketing plans in pipeline to occupy all market segments in every level, such
as general market, corporate segment, etc. They thus focus on pan-India coverage
to reach every customer based in remotest corners of the country with an
objective to satisfy those who are looking for quality, reliability and
durability in printing materials.
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.54.77 |
|
|
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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.