MIRA INFORM REPORT
|
Report Date : |
21.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
BILIGIRI GRANITES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
120, Hoodi
Apartment, |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.09.1994 |
|
|
|
|
Com. Reg. No.: |
08-016325 |
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Capital
Investment / Paid-up Capital : |
Rs.8.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14102KA1994PTC016325 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB01546G/
BLRB01149B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB5844K |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of
Granite Monuments, Slabs and Memorials. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 47000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. The
reserves appears to be low. However, the company has achieved better
improvement in its turnover during 2012. Trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 : |
120, Hoodi Apartment,
Cunningham Road, Bangalore – 560052, Karnataka, India |
|
Tel. No.: |
91-80-22259702 |
|
Fax No.: |
91-80-22259704 |
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E-Mail : |
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|
Website : |
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|
Area : |
2500 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory : |
9th
KM, Badanaguppe Village, Mysore Road, Chamarajnagar - 571313, Karnataka,
India |
|
Tel. No.: |
91-8226-230033/
34/ 222113 91-821-2543847/2524228 |
|
Fax No.: |
91-8226-230073/
222252 |
|
Area : |
25000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on: 29.08.2012
|
Name : |
Mr. Ananthakumar
Venkataramanaiah |
|
Designation : |
Managing Director
|
|
Address : |
“Biligiri”, B. R.
Hills Road, Chamraj Nagar - 571313, Karnataka, India |
|
Date of Birth/Age : |
14.10.1944 |
|
Qualification : |
S. S. L. C. ,
Diploma |
|
Date of Appointment : |
29.09.1994 |
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DIN No.: |
00575940 |
|
|
|
|
Name : |
Mr. Srigiri
Venkataramanaiah Ananthakumar |
|
Designation : |
Director |
|
Address : |
“Biligiri”, B. R.
Hills Road, Chamraj Nagar - 571313, Karnataka, India |
|
Date of Birth/Age : |
15.07.1976 |
|
Qualification : |
MBA |
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Date of Appointment : |
02.02.1998 |
|
DIN No.: |
00614280 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sekar Rangaswamy |
|
14000 |
|
Ananthakumar
Venkataramanaiah |
|
17900 |
|
Salem Rangasamy
Kumar |
|
14000 |
|
Srigiri
Venkataramanaiah Ananthakumar |
|
100 |
|
Jayaram
Krishnappa Beladkere |
|
10000 |
|
Revathi
Venkataramanaiah Ananthakumar |
|
24000 |
|
|
|
|
|
Total |
|
80000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.08.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
65.00 |
|
Other top fifty shareholders |
|
35.00 |
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Granite Monuments, Slabs and Memorials. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· State Bank of Mysore · Canara Bank, B R Hills Road, Chamarajnagar – 571313, Karnataka, India ·
State Bank of |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Nagarajan and Company Chartered Accountants |
|
Address : |
10 Trust
Complex, 3rd Floor, DV Road, Basvangudi, Bangalore – 560004,
Karnataka, India |
|
Tel. No.: |
91-80-25323245/26619060 |
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Fax No. |
91-80-26619050 |
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PAN No.: |
AAAFN5937F |
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E-Mail: |
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Associates : |
· Biligiri Granites (Proprietory Concern) Address: 120,
Hoodi Apartment, Line of Business:
Manufacturer and Exporter of Granite Block and Tiles |
CAPITAL STRUCTURE
As on: 29.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000 |
Equity Shares |
Rs.100/- each |
Rs.8.000
Millions |
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|
|
|
|
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 |
8.000 |
8.000 |
8.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.884 |
1.242 |
3.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(2.883) |
|
|
NETWORTH |
11.884 |
9.242 |
8.117 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.051 |
6.945 |
7.283 |
|
|
TOTAL BORROWING |
0.051 |
6.945 |
7.283 |
|
|
DEFERRED TAX LIABILITIES |
0.702 |
0.732 |
0.767 |
|
|
|
|
|
|
|
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TOTAL |
12.637 |
16.919 |
16.167 |
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|
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APPLICATION OF FUNDS |
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|
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|
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FIXED ASSETS [Net Block] |
8.186 |
9.294 |
10.558 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.593
|
0.743
|
2.978 |
|
|
Trade receivable |
1.176
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
2.080
|
1.982
|
2.104 |
|
|
Other Current Assets |
0.171
|
1.807
|
1.763 |
|
|
Loans & Advances |
3.244
|
3.851
|
1.049 |
|
Total
Current Assets |
7.264
|
8.383 |
7.894 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.482
|
0.570 |
1.369 |
|
|
Other Current Liabilities |
0.662
|
0.076 |
0.916 |
|
|
Provisions |
0.669
|
0.112 |
0.000
|
|
Total
Current Liabilities |
2.813
|
0.758 |
2.285 |
|
|
Net Current Assets |
4.451
|
7.625 |
5.609 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12.637 |
16.919 |
16.167 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
37.896 |
12.506 |
16.028 |
|
|
|
Other Income |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
16.028 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
14.296 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
2.354 |
1.732 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
1.263 |
1.178 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.861 |
1.091 |
0.554 |
|
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|
|
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|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
2.861 |
1.091 |
0.554 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
37.896 |
12.506 |
16.521 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Spares |
2.267 |
1.427 |
NA |
|
|
TOTAL IMPORTS |
2.267 |
1.427 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
35.76 |
14.07 |
7.41 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
NA
|
3.46
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.54 |
8.72
|
NA
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.51 |
6.17
|
3.00
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.12
|
0.07
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.83
|
1.27
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.58 |
11.06
|
3.45
|
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 |
Yes |
|
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 |
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 |
UNSECURED LOAN
Rs. In Millions)
|
Particulars |
As on 31.03.2012 |
As on 31.03.2011 |
|
Loans and advance from related parties Biligiri Granites |
0.051 |
0.000 |
|
Mr. V. Ananth Kumar |
0.000 |
6.945 |
|
|
|
|
|
Total |
0.051 |
6.945 |
OPERATIONS
The company has achieved a turnover of Rs. 37.896 millions as against the previous year’s turnover of Rs. 12.506 millions, resulting in a net profit of Rs. 2.861 millions.
FIXED ASSETS:
·
Building
·
Plant
and Machinery
·
Electrical
Installation
·
Office
Equipment
·
Furniture
and Fixtures
·
CWIP
Buildings
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. 55.03 |
|
|
1 |
Rs. 83.61 |
|
Euro |
1 |
Rs. 70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
33 |
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.