|
Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GRM RESOURCES PTE. LTD. |
|
|
|
|
Registered Office : |
7, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
22.11.2004 |
|
|
|
|
Com. Reg. No.: |
200415047-Z |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Trading of Coal and Minerals |
|
|
|
|
No. of Employees : |
10 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
Litigation : |
Clear |
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.
|
Source
: CIA |
EXECUTIVE SUMMARY
|
REGISTRATION NO. |
: |
200415047-Z |
||||
|
COMPANY NAME |
: |
GRM RESOURCES PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
22/11/2004 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
7, TEMASEK BOULEVARD, 21-02, SUNTEC TOWER ONE, 038987, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
7, TEMASEK BOULEVARD, #21-02, SUNTEC TOWER ONE, 038987, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63346868 |
||||
|
FAX.NO. |
: |
65-63342232 |
||||
|
CONTACT PERSON |
: |
RAJEEV MAHESHWARI ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF COAL AND MINERALS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
15,281,000.00 ORDINARY SHARE, OF A VALUE OF USD 15,000,000.00 |
||||
|
SALES |
: |
USD 318,123,119 [2011] |
||||
|
NET WORTH |
: |
USD 44,301,765 [2011] |
||||
|
STAFF STRENGTH |
: |
10 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY / BACKGROUND
The Subject is an exempt private company whose shares are not held by
any corporate body and has no more than 20 shareholders who are all natural persons.
An exempt company is a type of private limited company. A private limited
company is a separate legal entity from its shareholders. As a separate legal
entity, the Subject is capable of owning assets, entering into contracts, suing
or be sued by other companies. An exempt private company with an annual
turnover of less than SGD5 million are exempted from statutory auditing
requirements. Instead of filing audited annual accounts, the Subject has to
file in a document duly signed by its director in charge of its finance and the
company secretary stating that the Subject is able to meet all its obligations
as and when they fall due. The Subject is not required to have their accounts
audited. However, the Subject will prepare unaudited accounts for purposes of
AGMs and filing with Registry Office if it is unable to meet all its
obligations as and when they fall due .
The Subject is principally engaged in the (as a / as an) trading of coal
and minerals.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
21/01/2014 |
USD 15,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
OM PRAKASH JALAN + |
20 O.C, GANGULY SARANI, PO-LALA, LAJPAT RAI SARANI, PS-BHAWANIPUR,
KOLKATTA 700020, WEST BENGAL, INDIA. |
J0108768 |
7,640,500.00 |
50.00 |
|
RAJEEV MAHESHWARI + |
FLAT 10C, TOWER 1, SOUTH CITY, 375, PRINCE ANWAR SHAH ROAD, KOLKATA
700068, INDIA. |
Z2218733 |
7,640,500.00 |
50.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
15,281,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
201103178G |
SINGAPORE |
GRM MINING (SEA) PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
201104473M |
SINGAPORE |
GRM MINING (AFRICA) PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
201103173M |
SINGAPORE |
GRM METALS AND MINERALS (SEA) PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
201103167D |
SINGAPORE |
GRM GOLD AND METALS (SEA) PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
200809090H |
SINGAPORE |
GRM SHIPPING PRIVATE LIMITED |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
201103170Z |
SINGAPORE |
GRM COAL (SEA) PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
201001393K |
SINGAPORE |
CROWSNEST RESOURCES PTE. LTD. |
75.00 |
31/12/2012 |
|
|
|
|
|
|
DIRECTORS
DIRECTOR 1
|
Name Of Subject |
: |
MR. PALANINATHAN RAVICHANDRAN |
|
Address |
: |
68, BAYSHORE ROAD, 21-02, COSTA DEL SOL, 469986, SINGAPORE. |
|
IC / PP No |
: |
S2628609C |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
28/05/2005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
OM PRAKASH JALAN |
|
Address |
: |
20 O.C, GANGULY SARANI, PO-LALA, LAJPAT RAI SARANI, PS-BHAWANIPUR,
KOLKATTA 700020, WEST BENGAL, INDIA. |
|
IC / PP No |
: |
J0108768 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
22/11/2004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
RAJEEV MAHESHWARI |
|
Address |
: |
FLAT 10C, TOWER 1, SOUTH CITY, 375, PRINCE ANWAR SHAH ROAD, KOLKATA 700068,
INDIA. |
|
IC / PP No |
: |
Z2218733 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
22/11/2004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
|
|
1) |
Name of Subject |
: |
RAJEEV MAHESHWARI |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
AUDITOR
No Auditor found in our databank
COMPANY SECRETARIES
|
1) |
Company Secretary |
: |
NG GEOK LAN @ HUANG YULUAN |
|
|
IC / PP No |
: |
S1592193E |
|
|
|
|
|
|
|
Address |
: |
573, PASIR RIS STREET 53, 14-30, 510573, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
VANEE PRAMESHWARLAL JHUNJHUNWALA |
|
|
IC / PP No |
: |
S8063763B |
|
|
|
|
|
|
|
Address |
: |
638A, PUNGGOL DRIVE, 08-443, 821638, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
Banking relations are maintained principally with :
|
1) |
Name |
: |
BNP PARIBAS |
|
|
|
|
|
|
|
|
|
|
|
2) |
Name |
: |
MALAYAN BANKING BHD |
|
|
|
|
|
|
|
|
|
|
|
3) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
|
|
|
|
|
|
|
|
|
|
|
|
ENCUMBRANCE (S)
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200503640 |
27/06/2005 |
N/A |
BNP PARIBAS |
- |
Unsatisfied |
|
C200600760 |
02/02/2006 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C200608474 |
15/12/2006 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C200805433 |
18/06/2008 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C200905160 |
19/08/2009 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C201314526 |
28/10/2013 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
LEGAL CHECK AGAINST SUBJECT
* A check has been conducted in our databank againt the Subject whether the subject
has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The Subject refused to disclose its number of employees.
CLIENTELE
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS
|
Goods Traded |
: |
COAL AND MINERALS
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2013 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
10 |
10 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of coal and
minerals.
The Subject trades in minerals and coals.
CURRENT INVESTIGATION
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63346868 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
7, TEMASEK BOULEVARD, #21-02 SUNTEC TOWER ONE, SINGAPORE 038987 |
|
Current Address |
: |
7, TEMASEK BOULEVARD, #21-02, SUNTEC TOWER ONE, 038987, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
On 22nd May 2014 we contacted one of the staff from the Subject and she
provided some information.
FINANCIAL ANALYSIS
|
The Subject's latest financial accounts are up to 2011 which is out dated
in our opinion. Therefore, our comment on the Subject financial performance
is restricted thereto. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : N/A |
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|
|
|
|
|
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|
|
|
|
|
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
INDUSTRY ANALYSIS
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
The wholesale and retail trade sector contracted by 1.5% in the fourth
quarter of 2012, extending the 0.2% decline in the preceding quarter. For the
whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in
2011. The sector was weighed down primarily by the wholesale trade segment.
In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the
1.4% growth in 2011. Growth of the retail trade segment also moderated to
2.0%, from 3.2% in the year 2011. |
|
|
|
|
|
The domestic wholesale trade index grew by 1.2% in the fourth quarter
of 2012, an improvement from the 5.4% decline in the third quarter. This was
partly due to an increase in the sales of chemicals & chemical products
and ship chandlers & bunkering. For the full year of 2012, the domestic
wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011.
The foreign wholesale trade index grew by 8.6% in the fourth quarter, an
increase from the 6.6% growth in the third quarter. The expansion was partly
due to resilient sales of petroleum & petroleum products. For the whole
of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the
4.3% increase in 2011. |
|
|
|
|
|
In the fourth quarter of 2012, retail sales volume declined by 2.0%,
extending the 0.3% decline in the third quarter. Excluding motor vehicles,
retail sales volume grew by 0.4%, a slight moderation compared to the 1.5%
gain in the third quarter of 2012. The sales volume of motor vehicles fell by
11% in the fourth quarter of 2012, after contracting by 6.1% in the third
quarter. The sales of several discretionary items also declined in the fourth
quarter. Besides, the sales of optical goods & books in 2012 fell by
3.6%, while the sales of telecommunications apparatus & computers
declined by 1.4%. |
|
|
|
|
|
For 2012 as a whole, retail sales volume grew by 1.3%, compared to the
2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail
sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods
& toiletries registered the largest increase (9.3%) in sales, followed by
telecommunications apparatus & computers (6.9%). By contrast, the sales
of watches & jewellery (-2.2%) and optical goods & books (-3.6%)
declined. |
|
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
GRM RESOURCES PTE. LTD. |
|
Financial Year End |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
|
|
|
|
TURNOVER |
318,123,119 |
350,610,903 |
|
|
---------------- |
---------------- |
|
Total Turnover |
318,123,119 |
350,610,903 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
19,088,267 |
1,729,156 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
19,088,267 |
1,729,156 |
|
Taxation |
(2,452,474) |
(576,473) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
16,635,793 |
1,152,683 |
|
Minority interests |
672,850 |
- |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
17,308,643 |
1,152,683 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
17,308,643 |
1,152,683 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
12,660,222 |
11,507,539 |
|
|
---------------- |
---------------- |
|
As restated |
12,660,222 |
11,507,539 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
29,968,865 |
12,660,222 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
29,968,865 |
12,660,222 |
|
|
============= |
============= |
|
|
|
|
|
Hire purchase |
57,719 |
- |
|
Trust receipts |
309,942 |
26,563 |
|
Others |
134,042 |
181,564 |
|
|
---------------- |
---------------- |
|
|
501,703 |
208,127 |
|
|
============= |
============= |
BALANCE SHEET
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
65,636,309 |
11,318,018 |
|
|
|
|
|
Investments |
300,000 |
300,000 |
|
Others |
21,886,508 |
10,000,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
22,186,508 |
10,300,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
87,822,817 |
21,618,018 |
|
|
|
|
|
Stocks |
283,273 |
- |
|
Trade debtors |
36,066,167 |
6,429,613 |
|
Other debtors, deposits & prepayments |
6,238,424 |
24,088,960 |
|
Cash & bank balances |
2,890,689 |
3,107,403 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
45,478,553 |
33,625,976 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
133,301,370 |
55,243,994 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
43,408,034 |
23,140,403 |
|
Other creditors & accruals |
4,879,842 |
70,688 |
|
Short term borrowings/Term loans |
5,208,010 |
1,621,525 |
|
Provision for taxation |
2,461,870 |
327,100 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
55,957,756 |
25,159,716 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
(10,479,203) |
8,466,260 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
77,343,614 |
30,084,278 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
15,000,000 |
15,000,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
15,000,000 |
15,000,000 |
|
|
|
|
|
Retained profit/(loss) carried forward |
29,968,865 |
12,660,222 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
29,968,865 |
12,660,222 |
|
|
|
|
|
MINORITY INTEREST |
(667,100) |
- |
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
44,301,765 |
27,660,222 |
|
|
|
|
|
Long term loans |
33,036,749 |
2,418,956 |
|
Deferred taxation |
5,100 |
5,100 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
33,041,849 |
2,424,056 |
|
|
---------------- |
---------------- |
|
|
77,343,614 |
30,084,278 |
|
|
============= |
============= |
|
|
|
|
FINANCIAL RATIO
|
TYPES OF FUNDS |
|
|
|
Cash |
2,890,689 |
3,107,403 |
|
Net Liquid Funds |
2,890,689 |
3,107,403 |
|
Net Liquid Assets |
(10,762,476) |
8,466,260 |
|
Net Current Assets/(Liabilities) |
(10,479,203) |
8,466,260 |
|
Net Tangible Assets |
77,343,614 |
30,084,278 |
|
Net Monetary Assets |
(43,804,325) |
6,042,204 |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
38,244,759 |
4,040,481 |
|
Total Liabilities |
88,999,605 |
27,583,772 |
|
Total Assets |
133,301,370 |
55,243,994 |
|
Net Assets |
77,343,614 |
30,084,278 |
|
Net Assets Backing |
44,301,765 |
27,660,222 |
|
Shareholders' Funds |
44,301,765 |
27,660,222 |
|
Total Share Capital |
15,000,000 |
15,000,000 |
|
Total Reserves |
29,968,865 |
12,660,222 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.05 |
0.12 |
|
Liquid Ratio |
0.81 |
1.34 |
|
Current Ratio |
0.81 |
1.34 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
41 |
7 |
|
Creditors Ratio |
50 |
24 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.86 |
0.15 |
|
Liabilities Ratio |
2.01 |
1.00 |
|
Times Interest Earned Ratio |
39.05 |
9.31 |
|
Assets Backing Ratio |
5.16 |
2.01 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
6.00 |
0.49 |
|
Net Profit Margin |
5.44 |
0.33 |
|
Return On Net Assets |
25.33 |
6.44 |
|
Return On Capital Employed |
25.55 |
6.44 |
|
Return On Shareholders' Funds/Equity |
39.07 |
4.17 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.12 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.