MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAHIBA LIMITED (w.e.f. 04.10.2012) |
|
|
|
|
Formerly Known
As : |
SAHIBA FABRICS LIMITED |
|
|
|
|
Registered
Office : |
Basement Floor, Near Krishna Textile Market, Ring Road, Surat – 395002, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.12.1989 |
|
|
|
|
Com. Reg. No.: |
04-013121 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 153.217 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119GJ1989PLC013121 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS00923G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS3580K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Fabrics. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an estalblished company having
satisfactory track record. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealing 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000
denominations, pushing the deadline to January 1, 2015. A day before dates for
the Lok Sabha polls were
announced, the government decided to hike interest rates on fixed deposit
schemes offered by post offices up to 0.2 per cent. The new rates will be
effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s
appeal against a ruling over transferring ownership of its local mobile phones
plant which is the subject of a tax dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into
Hindustan Aeronautics Limited’s contracts from
Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau
of Investigation will look into allegations that over $80 million was paid in
kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a
solution for problems with state-owned Air India’s 787 Dreamliners.
The aircraft has experienced a series of malfunctions since its debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
26.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3+” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
26.02.2014 |
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 DECLINED BY
|
Name : |
Mr. Satyender Singh Chauhan |
|
Designation : |
Secretary |
|
Contact No.: |
91-261-2320509 |
|
Date : |
22.03.2014 |
LOCATIONS
|
Registered Office : |
Basement Floor, Near Krishna Textile Market, Ring Road, Surat – 395002, Gujarat, India |
|
Tel. No. : |
91-261-2355047/ 2320509/ 2320524/ 2322809 |
|
Fax No. : |
91-261-2337925 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Block No. 93-94, Village- Bagumara, Jolwa patiya, Taluka: Palsana, Surat - 394305, Gujarat, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Kuldeepsingh Jagdishsingh
Saluja |
|
Designation : |
Managing Director |
|
Address : |
B/4, Krishna Textile Market, Basement Floorr, Ring Road, Surat – 395002, Gujarat, India |
|
Date of Birth/Age : |
10.05.1955 |
|
Qualification : |
Gratuate |
|
Date of Appointment : |
29.12.2012 |
|
PAN No. : |
AFSPS3683Q |
|
DIN No. : |
01100183 |
|
|
|
|
Name : |
Mr. Iqbalsingh Jagdishsingh
Saluja |
|
Designation : |
Whole-time director |
|
Address : |
4-Basement Floor, Krishna Textile Market, Near J.J. A.C.Market, Ring Road, Surat – 395002, Gujarat, India |
|
Date of Birth/Age : |
03.02.1962 |
|
Qualification : |
Gratuate |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AGUPS7560F |
|
DIN No. : |
00867784 |
|
|
|
|
Name : |
Mr. Brijmohan Surajmal
Gujjar |
|
Designation : |
Director |
|
Address : |
5, Krishna Textile Market, Ring Road, Surat – 395002, Gujarat, India |
|
Date of Birth/Age : |
10.03.1965 |
|
Qualification : |
Gratuate |
|
Date of Appointment : |
01.04.2001 |
|
DIN No. : |
01669328 |
|
|
|
|
Name : |
Mr. Mahendrasingh Jagdishsingh
Saluja |
|
Designation : |
Whole-time director |
|
Address : |
45, Subhash Nagar Society, Ghod Dod Road, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
08.04.1958 |
|
Qualification : |
Gratuate |
|
Date of Appointment : |
29.12.2012 |
|
PAN No. : |
ADAPS6445G |
|
DIN No. : |
01669365 |
|
|
|
|
Name : |
Mr. Jaspreet Singh Kuldeepsingh
Saluja |
|
Designation : |
Whole-time director |
|
Address : |
45, Subhash Nagar Society, Ghod Dod Road, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
30.09.1980 |
|
Qualification : |
Gratuate |
|
Date of Appointment : |
29.12.2012 |
|
PAN No. : |
AELPS2124Q |
|
DIN No. : |
01713534 |
|
|
|
|
Name : |
Mr. Manish Kumar Ishwarlal Ahuja |
|
Designation : |
Director |
|
Address : |
17, Dhanlaxmi, Athwalines, Surat – 395001, Gujarat, India |
|
Date of Birth/Age : |
13.08.1980 |
|
Qualification : |
Gratuate |
|
Date of Appointment : |
30.09.2010 |
|
DIN No. : |
02854713 |
|
|
|
|
Name : |
Mr. Narayansingh Mangalsingh
Rajpurohit |
|
Designation : |
Director |
|
Address : |
16, Suncity Row House, Near Model Town, Parvatpata, Dumbal, Surat – 395010, Gujarat, India |
|
Date of Birth/Age : |
26.4411.1981 |
|
Qualification : |
Gratuate |
|
Date of Appointment : |
01.03.2010 |
|
DIN No. : |
02854734 |
KEY EXECUTIVES
|
Name : |
Mr. Satyender Singh Chauhan |
|
Designation : |
Secretary |
|
Address : |
47, Shantivan Township, Opposite Gail Tower, New Rander Road, Tadwadi, Surat – 395009, Gujarat, India |
|
Date of Birth/Age : |
07.02.1975 |
|
Date of Appointment : |
01.09.2012 |
|
PAN No.: |
AKMPC8039R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Name |
No. of Share |
|
Amandeep Singh Saluja |
100 |
|
Jaspal Singh Saluja |
100 |
|
Ruchi Kaur Saluja |
44430 |
|
Sheetal Saluja |
58520 |
|
Sumpreet Kaur Saluja |
125950 |
|
Harbhajan Singh Tuteja |
100 |
|
Titu and Mahendra Tex. (Private) Limited |
235750 |
|
Sahiba Silk Mills Private Limited |
718330 |
|
Tanishka J Saluja |
7250 |
|
Navya J. Saluja |
3750 |
|
D. Rajveer Singh Saluja |
6150 |
|
Dayaram Sirvi |
4760 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
36.39 |
|
Directors or relatives of Directors |
61.79 |
|
Other top fifty shareholders |
1.82 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Fabrics. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
|||||||||||||||||||||
|
Bankers : |
Oriental Bank of Commerce, Jash Textile Market, Ring Road, Surat - 395002, Gujarat, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Goyal Vinod and Company Chartered Accountants |
|
Address : |
403, Shree Shyam Chambers, Opposite Sub Jail, Ring Road, Surat – 395002, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFG6149A |
|
|
|
|
Associate: |
· Sahiba Prints Private Limited CIN No.: U22211GJ1988PTC010267 Sahiba Silk Mills Private Limited CIN No.: U17116GJ1993PTC020267 Titu and Mahendra Tex
Private Limited CIN No.: U17119GJ1989PTC013122 Sahiba Fashions Private Limited CIN No.: U17219GJ1993PTC019300 Sahiba Capital Private Limited CIN No.: U67120GJ1996PTC029898 Sahiba Overseas Private Limited CIN No.: U17119GJ1993PTC020266 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 170.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,321,710 |
Equity Shares |
Rs.10/- each |
Rs. 153.217 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
153.217 |
153.217 |
|
(b) Reserves & Surplus |
|
520.725 |
495.118 |
|
(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) |
|
673.942 |
648.335 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
218.114 |
278.505 |
|
(b) Deferred tax liabilities (Net) |
|
24.770 |
22.756 |
|
(c) Other long term liabilities |
|
244.493 |
239.440 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
487.377 |
540.701 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
124.548 |
30.424 |
|
(b) Trade payables |
|
85.145 |
71.000 |
|
(c) Other current
liabilities |
|
0.000 |
0.120 |
|
(d) Short-term provisions |
|
28.707 |
22.646 |
|
Total Current Liabilities (4) |
|
238.400 |
124.190 |
|
|
|
|
|
|
TOTAL |
|
1399.719 |
1313.226 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
447.214 |
590.569 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.921 |
1.880 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
|
10.181 |
9.947 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
459.316 |
602.396 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
309.426 |
227.158 |
|
(c) Trade receivables |
|
405.586 |
339.316 |
|
(d) Cash and cash
equivalents |
|
120.307 |
99.819 |
|
(e) Short-term loans and
advances |
|
105.084 |
44.537 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
940.403 |
710.830 |
|
|
|
|
|
|
TOTAL |
|
1399.719 |
1313.226 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1700.933 |
1703.248 |
1519.928 |
|
|
|
Other Income |
71.378 |
46.249 |
41.609 |
|
|
|
TOTAL (A) |
1772.311 |
1749.497 |
1561.537 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
716.008 |
815.280 |
678.494 |
|
|
|
Purchases of stock-in-trade |
133.728 |
77.202 |
190.507 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(13.229) |
45.483 |
(70.962) |
|
|
|
Employee benefit expense |
266.378 |
235.154 |
206.286 |
|
|
|
Other expenses |
443.478 |
390.734 |
427.974 |
|
|
|
TOTAL (B) |
1546.363 |
1563.853 |
1432.299 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
225.948 |
185.644 |
129.238 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.881 |
39.365 |
25.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
190.067 |
146.279 |
103.859 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
155.538 |
130.802 |
52.346 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
34.529 |
15.477 |
51.513 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.923 |
8.629 |
18.609 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
26.606 |
6.848 |
32.904 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
419.492 |
567.047 |
284.002 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
3.552 |
194.120 |
184.223 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.67 |
0.45 |
2.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.50
|
0.39 |
2.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.03
|
0.91 |
3.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.47
|
1.18 |
N.A. |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.02 |
N.A. |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.51
|
0.48 |
N.A. |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.94
|
5.72 |
N.A. |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
153.217 |
153.217 |
|
Reserves & Surplus |
495.118 |
520.725 |
|
Net
worth |
648.335 |
673.942 |
|
|
|
|
|
long-term borrowings |
278.505 |
218.114 |
|
Short term borrowings |
30.424 |
124.548 |
|
Total
borrowings |
308.929 |
342.662 |
|
Debt/Equity
ratio |
0.476 |
0.508 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1519.928 |
1703.248 |
1700.933 |
|
|
|
12.061 |
-0.136 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1519.928 |
1703.248 |
1700.933 |
|
Profit |
32.904 |
6.848 |
26.606 |
|
|
2.16% |
0.40% |
1.56% |
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 |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10244844 |
28/12/2011 * |
300,000,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT - |
B30492250 |
|
2 |
10191383 |
05/12/2009 |
74,000,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT - |
A75708115 |
|
3 |
10017749 |
09/05/2013 * |
250,000,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT - |
B76633353 |
|
4 |
10017753 |
16/05/2012 * |
769,000,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT - |
B40930679 |
|
5 |
10017755 |
19/08/2006 |
145,000,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING ROAD, SURAT - |
A03897253 |
|
6 |
90109202 |
20/02/1996 * |
1,500,000.00 |
ORIENTAL BANK OF COMMERCE |
JAS TEXTILE AND YARN MARKET, RING ROAD, SURAT, GUJARAT, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from directors |
79.302 |
93.577 |
|
Total |
79.302 |
93.577 |
THE YEAR IN
RETROSPECT AND FUTURE OUTLOOK:
During the year, the company has recorded decreased turnover of Rs. 1700.933 Millions of current year as against Rs. 1703.248 Millions of previous year. The company has recorded cash profit of Rs.190.067 Millions compared to previous year cash profit of Rs.146.279 Millions. The net profit of the company stands at Rs. 25.606 Millions during the year compared to last year net profit of Rs. 6.848 Millions.
The management of the company, during the year has already taken a step towards their expansion plan and company opened a new branch in metropolitan city like Mumbai.
The Management is working out modalities to lead the company's way to progress and growth both in terms of revenue and profitability.
CONTINGENT
LIABILITIES (AS ON 31.03.2013) :
The Central Excise Department has raised the demand of Rs. 8.013 Millions which is disputed in appeal. The Company has deposited Rs.4.007 Millions on direction of Tribunal. As the Company is hopeful for deletion of demand, no any provision has been made.
There have been no any cases of delay in payments or of payment of interest on such delay payments to the reported supplier' defined under section 2(n) of the Micro, Small and Medium Enterprises Development Act ,2006. In view of no any reported information about the status of supplier covered under the said Act, the information about outstanding amount due including interest is not applicable.
FIXED ASSETS
v Tangible Assets
Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Other
Equipments
PRESS RELEASE
SAHIBA LIMITED SHOWCASES INNOVATIVE COLLECTION DESIGNED AND STYLED BY
PAKISTAN BASED DESIGNER MARIA B
A perfect evening was hosted by Sahiba Limited as the leading textile conglomerate showcased innovation collection of latest designs in all kind of fabrics and festival dressing as Fashion Uday.The collection was designed and styled by Pakistan based designer Maria.B.The event took place at Hotel Hyatt Regency, Gurgaon.
A perfect evening was hosted by Sahiba Limited as the leading textile conglomerate showcased innovation collection of latest designs in all kind of fabrics and festival dressing as Fashion Uday.The collection was designed and styled by Pakistan based designer Maria.B.The event took place at Hotel Hyatt Regency, Gurgaon.
Known as the "Queen of Pret" in Pakistan, MARIA.B has brought about a revolution in the ready-to-wear and Designer Fabrics market in the country. Today Sahiba Limited and Maria B are launching a groundbreaking and historic project.
Sahiba Fabrics is affianced in textile business since 26 years and it has been catering to the ever-growing demands of the Clothing and Fashion Industry simultaneously striving towards becoming a market leader in the manufacturing of Fabrics. The Sahiba Group is one of the pioneers in the textile manufacturing business in India, specializing in the development of textile design. Our modern equipment, expert staff, and advanced computerized systems enable us to provide leading services to the fabric industry and the garment trade not only in India but also on a global scale.
With the largest designer retail network in Pakistan of over 25 outlets in 12 major cities of the country, the brand is by far the largest designer brand in Pakistan today. MARIA started her brand 14 years ago with a vision of bringing high quality, trendy and affordable clothes for the modern woman and has been launching twenty collections each year for the past 12-years. A partnership that merges the talent and vision of the 2 companies and brings to you the best of Pakistani fabric design and Indian premium quality fabrics printing and embroideries.
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.60.21 |
|
|
1 |
Rs.101.05 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
47 |
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.