|
Report Date : |
11.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEXTGEN CREATION |
|
|
|
|
Registered
Office : |
Aakash Complex Gagan Vihar Apartments, Opposite The Kalupur Com Co-Op.
Bank Limited, Navawadaj, 132 Feet Ring Road, Ahmedabad – 380013, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
01.04.2014 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AJRPM3041M |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Chudidar, Ledings and Kurtis. |
|
|
|
|
No. of Employees
: |
30 (Approximately) (Office – 5 and Factory – 25) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new proprietary concern and establishing itself
gradually. Mrs. Geeta Maruda, Proprietor has provided general information. Business is active. Payment terms are unknown. The concern can be considered for business dealing on a safe and
secure 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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes that many things such as apartment
sales, luxury products, etc. were largely bought with dirty money. And it is
now beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 %! Equities came in second with annualized
return of 15.5 %! However, while these returns may seem mouthwatering, the fact
is that the return from equities adjusted for inflation came down to just 7.1
%.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mrs. Geeta B. Maruda |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9825415352 |
|
Date : |
11.08.2014 |
LOCATIONS
|
Registered Office : |
Aakash Complex Gagan Vihar Apartments, Opposite The Kalupur Com Co-Op.
Bank Limited, Navawadaj, 132 Feet Ring Road, Ahmedabad – 380013, Gujarat,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9825415352 (Mrs. Geeta B. Maruda) |
|
Fax No.: |
Not Available |
|
Location : |
Owned |
|
|
|
|
Branch/ Sales Office : |
J/224, J/236 New Cloth Market, Sarangpur, Ahmedabad, Gujarat, India |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mrs. Geeta B. Maruda |
|
Designation : |
Proprietor |
|
Address : |
A-10, Suvandham Avenue, Opposite Sundavan Society, Ranip, Ahmedabad,
Gujarat, India |
|
Date of Birth/Age : |
02.07.1973 |
|
Qualification : |
Commerce Graduate |
|
Experience : |
12 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Chudidar, Ledings and Kurtis. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (60 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
30 (Approximately) (Office – 5 and Factory – 25) |
|
|
|
|
Bankers : |
Not Applicable being newly canvassed account (However the firm has current account with syndicate Bank) |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shailesh and Company Chartered Accountants |
|
Address : |
5/A15, Municipal Blocks, Near IDBI Bank, Off C. G. Road, Ahmedabad, Gujarat,
India |
|
Mobile No.: |
91-9825064204 |
|
|
|
|
Associates/Subsidiaries : |
· Aakash Auto 5-91, Gagan Vihar Apartment, Opposite National Handloom, New Wadaj, District Ahmedabad,
Gujarat, India (Subject
dealership of m/s Bajaj Auto Limited) |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[All figures are
in Rupees Millions]
NEW BUSINESS
Note: Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
No |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENT
OPERATING STATEMENT
(ACTUAL/ ESTIMATED)
(RS. IN MILLIONS)
|
Particulars |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
|
|
|
|
|
|
|
|
GROSS INCOME |
|
|
|
|
|
|
Sales |
|
|
|
|
|
|
a)
Domestic Sales |
58.822 |
83.226 |
18.193 |
137.322 |
171.195 |
|
b)
Export Sales |
-- |
-- |
-- |
-- |
-- |
|
c) Sub-total |
58.822 |
83.226 |
18.193 |
137.322 |
171.195 |
|
|
|
|
|
|
|
|
Other
Income |
-- |
-- |
-- |
-- |
-- |
|
Net Sales |
58.822 |
83.226 |
18.193 |
137.322 |
171.195 |
|
|
|
|
|
|
|
|
d)
%age rise (+) or fall (-) in net sales as compared to previous year |
-- |
41.49 |
30.00 |
26.92 |
24.67 |
|
|
|
|
|
|
|
|
COST OF SALES |
|
|
|
|
|
|
Raw Materials (Including Stores and Other Items
under in the process of manufacturer) |
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous
|
49.623 |
69.486 |
90.092 |
118.182 |
147.000 |
|
|
|
|
|
|
|
|
Others spares |
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous
|
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Power and Fuel |
1.125 |
1.485 |
1.634 |
1.797 |
1.977 |
|
Direct Labour (Factory, Wages and Salaries) |
7.640 |
8.656 |
10.537 |
12.523 |
14.618 |
|
Other Manufacturing Expenses |
1.200 |
1.360 |
1.655 |
1.967 |
2.296 |
|
Depreciation |
0.072 |
0.061 |
0.052 |
0.044 |
0.038 |
|
Sub Total |
59.660 |
81.048 |
103.970 |
134.513 |
165.929 |
|
|
|
|
|
|
|
|
Add: Opening Stock in Process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub Total |
59.660 |
81.048 |
103.970 |
134.513 |
165.929 |
|
|
|
|
|
|
|
|
Deduct:
Closing Stock in Process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
COST OF PRODUCTION |
59.660 |
81.048 |
103.970 |
134.513 |
165.929 |
|
|
|
|
|
|
|
|
Add:
Opening Stock of Finished Goods |
0.000 |
5.300 |
8.350 |
9.950 |
14.800 |
|
Sub Total |
59.660 |
86.348 |
112.320 |
144.463 |
180.729 |
|
|
|
|
|
|
|
|
Deduct:
Closing Stock Finished Goods |
5.300 |
8.350 |
9.950 |
14.80 |
18.300 |
|
|
|
|
|
|
|
|
SUB TOTAL (COST OF SALES) |
54.360 |
77.998 |
102.370 |
129.663 |
162.429 |
|
|
|
|
|
|
|
|
Selling, General & Administrative
Expenses (including bonus payments) |
2.582 |
2.659 |
2.739 |
2.821 |
2.906 |
|
Sub Total |
56.942 |
80.657 |
105.109 |
132.484 |
165.335 |
|
|
|
|
|
|
|
|
Operating
Profit Before Interest |
1.880 |
2.569 |
3.084 |
4.838 |
5.860 |
|
|
|
|
|
|
|
|
Interest
|
1.052 |
1.255 |
1.245 |
1.236 |
1.226 |
|
|
|
|
|
|
|
|
Operating
profit After Interest |
0.828 |
1.314 |
1.839 |
3.602 |
4.634 |
|
|
|
|
|
|
|
|
(i)
Add other non-operating income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub-total (income) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(ii)
Deduct other non-operating expense |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub-total (expenses) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(iii) Net of other non-operating
incomes/expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Profit
Before Tax/ Loss |
0.828 |
1.314 |
1.839 |
3.602 |
4.634 |
|
|
|
|
|
|
|
|
Provision
for tax |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Net
Profit / (Loss) |
0.828 |
1.314 |
1.839 |
3.602 |
4.634 |
|
|
|
|
|
|
|
|
Retained
Profit |
0.828 |
1.314 |
1.839 |
3.602 |
4.634 |
|
|
|
|
|
|
|
|
Retained
profit / Net Profit (%age) |
100% |
100% |
100% |
100% |
100% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(ACTUAL/ ESTIMATED)
(RS. IN MILLIONS)
|
Particulars |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
Short
term borrowings from bank (Incl.
Bills purchased, discounted and excess borrowings placed on repayment basis) |
|
|
|
|
|
|
(i)
From applicant bank |
10.000 |
10.000 |
11.000 |
12.000 |
13.000 |
|
(ii)
From other banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(iii)
of which EP & BD |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Sub Total (A) |
10.000 |
10.000 |
11.000 |
12.000 |
13.000 |
|
|
|
|
|
|
|
|
Short
term borrowings from others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Sundry
Creditors - Trade |
0.500 |
2.500 |
2.000 |
2.200 |
2.000 |
|
|
|
|
|
|
|
|
Advance payments from customers/ deposits
from dealers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Provision
for Taxation |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Dividend
Payable |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Other
statutory liabilities (due
within one year) |
0.151 |
0.125 |
0.200 |
0.667 |
0.700 |
|
|
|
|
|
|
|
|
Deposits/
Instalments of term loan/ DPGs/ Debentures etc. (due
within one year) |
0.070 |
0.070 |
0.070 |
0.070 |
0.070 |
|
|
|
|
|
|
|
|
Other
current liabilities and Provisions (due
within one year) |
|
|
|
|
|
|
-Accrured
Expenses |
1.000 |
1.578 |
1.425 |
2.500 |
3.091 |
|
-Misc.
Current Liabilities |
0.500 |
0.600 |
0.700 |
0.800 |
0.900 |
|
|
|
|
|
|
|
|
Sub Total (B) |
2.221 |
4.873 |
4.395 |
6.237 |
6.738 |
|
|
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES |
12.221 |
14.873 |
15.395 |
18.237 |
19.738 |
|
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
Debentures
(not
maturing within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Preference
Shares (redeemable
after one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Term
loans (excluding
instalments payable within one year) |
0.257 |
0.187 |
0.117 |
0.047 |
0.000 |
|
|
|
|
|
|
|
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Differed
Payment Credits (excl.
instalments due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Term
deposits (Repayable after one year) |
1.000 |
1.000 |
1.500 |
2.500 |
3.000 |
|
|
|
|
|
|
|
|
Other
term liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL TERM LIABILITIES |
1.257 |
1.187 |
1.617 |
2.547 |
3.000 |
|
|
|
|
|
|
|
|
TOTAL OUTSIDE LIABILITIES |
13.478 |
16.060 |
17.012 |
20.784 |
22.738 |
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary
Share Capital |
3.699 |
5.013 |
6.852 |
10.454 |
15.088 |
|
|
|
|
|
|
|
|
Introduction |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Withdrawals |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Other
reserves (excluding provisions) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Surplus
(+) or deficit (-) in Profit & Loss Account |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
NET WORTH |
3.699 |
5.013 |
6.852 |
10.454 |
15.088 |
|
|
|
|
|
|
|
|
TOTAL
LIABILITIES |
17.177 |
21.073 |
23.864 |
31.238 |
37.826 |
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
& Bank Balances |
0.136 |
0.250 |
0.300 |
0.500 |
0.800 |
|
|
|
|
|
|
|
|
Fixed
Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Receivables |
10.500 |
11.000 |
11.500 |
12.000 |
12.500 |
|
|
|
|
|
|
|
|
Inventories |
|
|
|
|
|
|
(i)
Raw materials (including stores and other items in process of manufacture) |
|
|
|
|
|
|
(a)
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b)
Indigenous |
0.571 |
0.668 |
0.733 |
0.785 |
0.824 |
|
|
|
|
|
|
|
|
(ii)
Stock-in-process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(iii)
Other consumable stores |
|
|
|
|
|
|
(a)
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b)
Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
(iv)
Finished Goods |
5.300 |
8.350 |
9.950 |
14.800 |
18.300 |
|
|
|
|
|
|
|
|
Advance to suppliers of Raw materials and
stores/spares |
0.260 |
0.456 |
1.084 |
2.900 |
5.187 |
|
|
|
|
|
|
|
|
Advance
payment of taxes |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Other
current assets |
0.000 |
0.000 |
0.00 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL CURRENT ASSET |
16.767 |
20.724 |
23.567 |
30.985 |
37.611 |
|
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
Block (Land and Building Machinery Vehicles work-in-progress) |
0.482 |
0.410 |
0.349 |
0.297 |
0.253 |
|
|
|
|
|
|
|
|
Depreciation
to date |
0.072 |
0.061 |
0.052 |
0.044 |
0.038 |
|
|
|
|
|
|
|
|
NET BLOCK |
0.410 |
0.349 |
0.297 |
0.253 |
0.215 |
|
|
|
|
|
|
|
|
Investments/book
debts /advances deposits which are not current assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
i.(a)Investments
in subsidiary companies/ affiliates |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b)Others |
|
|
|
|
|
|
|
|
|
|
|
|
|
ii.
Advances to suppliers of capital goods and contractors |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
iii.
Deferred receivables (Maturity
exceeding one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
iv.
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Non
consumables stores & spare |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Other
non-current assets (Incl.
Dues from director) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL OTHER NON-CURRENT ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Intangible
assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided
for etc.) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
ASSETS |
17.177 |
21.073 |
23.864 |
31.238 |
37.826 |
|
|
|
|
|
|
|
|
Tangible
net worth |
3.699 |
5.013 |
6.852 |
10.454 |
15.088 |
|
|
|
|
|
|
|
|
NET WORKING CAPITAL |
4.546 |
5.851 |
8.172 |
12.748 |
17.873 |
|
|
|
|
|
|
|
|
CURRENT
RATIO |
1.37 |
1.39 |
1.53 |
1.70 |
1.91 |
|
|
|
|
|
|
|
|
Total Outside Liabilities / Net Worth |
3.64 |
3.20 |
2.48 |
1.99 |
1.51 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF CURRENT ASSETS
& CURRENT LIABILITIES
(ACTUAL/ ESTIMATED)
(RS. IN MILLIONS)
|
Particulars |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
|
|
|
|
|
|
|
|
A. CURRENT ASSETS: |
|
|
|
|
|
|
Raw materials (Including stores and other
items used in the process of manufacture) |
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months' consumption |
-- |
-- |
-- |
-- |
-- |
|
Indigenous |
0.571 |
0.668 |
0.733 |
0.785 |
0.824 |
|
Months' consumption |
0.14 |
0.12 |
0.10 |
0.08 |
0.07 |
|
|
|
|
|
|
|
|
Other consumable spares |
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months' consumption |
-- |
-- |
-- |
-- |
-- |
|
Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months' consumption |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Stocks-in-trade |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months' cost of production |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Finished goods |
5.300 |
8.350 |
9.950 |
14.800 |
18.300 |
|
Months' cost of sales |
1.07 |
1.16 |
1.06 |
1.23 |
1.22 |
|
|
|
|
|
|
|
|
Receivables other than export and deferred
receivables (including bills purchased and discounted by bankers) |
10.500 |
11.000 |
11.500 |
12.000 |
12.500 |
|
Months' domestic sales |
2.14 |
1.59 |
1.28 |
1.05 |
0.88 |
|
|
|
|
|
|
|
|
Exports Receivable (Including bills
purchased and discounted) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months' export sales |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Advances Suppliers of Raw Materials and
Stores spares Consumables |
0.260 |
0.456 |
1.084 |
2.900 |
5.187 |
|
|
|
|
|
|
|
|
Other current assets incl. cash and bank
balance and deferred receivables due within 1 year |
0.136 |
0.250 |
0.300 |
0.500 |
0.800 |
|
|
|
|
|
|
|
|
TOTAL CURRENT
ASSETS |
16.767 |
20.724 |
23.567 |
30.985 |
37.611 |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
(Other than bank borrowing for WC) |
|
|
|
|
|
|
Creditors for purchase of raw materials, stores
and consumable spares |
0.500 |
2.500 |
2.000 |
2.200 |
2.000 |
|
Months' purchases |
0.12 |
0.43 |
0.27 |
0.22 |
0.16 |
|
|
|
|
|
|
|
|
Advances from customers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Statutory Liabilities |
0.151 |
0.125 |
0.200 |
0.667 |
0.700 |
|
|
|
|
|
|
|
|
Other current liabilities - Short Term
Borrowings, Unsecured Loans, Dividend Payable, Instalments of TL, DPG, Public
Deposits, Debentures etc.) |
0.700 |
0.700 |
0.700 |
0.700 |
0.047 |
|
|
|
|
|
|
|
|
Misc. Current Liabilities |
|
|
|
|
|
|
- Accrued Expenses |
1.000 |
1.578 |
1.425 |
2.500 |
3.091 |
|
- Misc. Current Liabilities |
0.500 |
0.600 |
0.700 |
0.800 |
0.900 |
|
|
|
|
|
|
|
|
TOTAL CURRENT LIABILITIES |
2.221 |
4.843 |
4.395 |
6.237 |
6.738 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(ACTUAL/ ESTIMATED)
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
|
First Method
of Lending |
|
|
|
|
|
|
1. Total Current Assets |
16.767 |
20.724 |
23.567 |
30.985 |
37.611 |
|
|
|
|
|
|
|
|
2. Other Current Liabilities |
2.221 |
4.873 |
4.395 |
6.237 |
6.738 |
|
(Other than bank borrowing) |
|
|
|
|
|
|
|
|
|
|
|
|
|
3. Working Capital Gap (WCG) |
14.616 |
15.921 |
19.242 |
24.818 |
30.920 |
|
|
|
|
|
|
|
|
4. Min. stipulated net working Capital i.e.
25% of WCG/25% of total current assets as the case may be depending upon the
method of lending being applied (Export receivables to be excluded under both
methods) |
3.654 |
3.980 |
4.811 |
6.205 |
7.730 |
|
|
|
|
|
|
|
|
5. Actual/Projected net working Capital |
4.616 |
5.921 |
8.242 |
12.818 |
17.920 |
|
|
|
|
|
|
|
|
6. Item 3 minus Item 4 |
10.962 |
11.941 |
14.432 |
18.614 |
23.190 |
|
|
|
|
|
|
|
|
7. Item 3 minus item 5 |
10.000 |
10.000 |
11.000 |
12.000 |
13.000 |
|
|
|
|
|
|
|
|
8. Maximum permissible bank finance (Item 6
or 7 whichever is lower) |
10.000 |
10.000 |
11.000 |
12.000 |
13.000 |
|
|
|
|
|
|
|
|
9. Excess borrowings representing Short
fall in NWC (4 - 5) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|||||
|
Second Method of
Lending |
|
|
|
|
|
|
1. Total Current Assets |
16.767 |
20.724 |
23.567 |
30.985 |
37.611 |
|
|
|
|
|
|
|
|
2. Other Current Liabilities |
2.221 |
4.873 |
4.395 |
6.237 |
6.738 |
|
(Other than bank borrowing) |
|
|
|
|
|
|
|
|
|
|
|
|
|
3. Working Capital Gap (WCG) |
14.616 |
15.921 |
19.242 |
24.818 |
30.920 |
|
|
|
|
|
|
|
|
4. Min. stipulated net working Capital i.e.
25% of WCG/25% of total current assets as the case may be depending upon the
method of lending being applied (Export receivables to be excluded under both
methods) |
4.192 |
5.181 |
5.892 |
7.746 |
9.403 |
|
|
|
|
|
|
|
|
5. Actual/Projected net working Capital |
4.616 |
5.921 |
8.242 |
12.818 |
17.920 |
|
|
|
|
|
|
|
|
6. Item 3 minus Item 4 |
10.424 |
10.740 |
13.350 |
17.072 |
21.517 |
|
|
|
|
|
|
|
|
7. Item 3 minus item 5 |
10.000 |
10.000 |
11.000 |
12.000 |
13.000 |
|
|
|
|
|
|
|
|
8. Maximum permissible bank finance (Item 6
or 7 whichever is lower) |
10.000 |
10.000 |
11.000 |
12.000 |
13.000 |
|
|
|
|
|
|
|
|
9. Excess borrowings representing Short
fall in NWC (4 - 5) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
FUND FLOW STATEMENT
(ACTUAL/ ESTIMATED)
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
|
1. SOURCES |
|
|
|
|
|
|
Net Profit (After Tax) |
0.828 |
1.314 |
1.839 |
3.602 |
4.634 |
|
Depreciation |
0.072 |
(0.011) |
(0.009) |
(0.008) |
(0.006) |
|
Increase in Capital |
2.871 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Term Liabilities (Including Public Deposits) |
1.257 |
0.000 |
0.430 |
0.930 |
0.453 |
|
Decrease in |
|
|
|
|
|
|
-Fixed Assets |
0.000 |
0.072 |
0.061 |
0.052 |
0.044 |
|
-Other Non-current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Total |
5.028 |
1.375 |
2.321 |
4.576 |
5.125 |
|
|
|
|
|
|
|
|
2. USES |
|
|
|
|
|
|
Net Loss |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Decrease Term Liabilities (Including Public Deposits) |
0.000 |
0.070 |
0.000 |
0.000 |
0.000 |
|
Increase in |
|
|
|
|
|
|
-Fixed Assets |
0.482 |
0.000 |
0.000 |
0.000 |
0.000 |
|
-Other Non-current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Dividend Payments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Total |
0.482 |
0.070 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
3. Long Term Surplus / Deficit |
4.546 |
1.305 |
2.321 |
4.576 |
5.125 |
|
|
|
|
|
|
|
|
4. Increase/Decrease In Current Assets (As Per Details Given Below) |
16.767 |
3.957 |
2.843 |
7.418 |
6.626 |
|
|
|
|
|
|
|
|
5. Increase/Decrease In Current Liabilities Other Than Bank
Borrowings |
2.221 |
2.652 |
(0.478) |
1.842 |
0.501 |
|
|
|
|
|
|
|
|
6. Increase/Decrease In Working Capital Gap |
14.546 |
1.305 |
3.321 |
5.576 |
6.125 |
|
|
|
|
|
|
|
|
7. Net Surplus (+) / Deficit (-) (3-6) |
(10.000) |
0.000 |
(1.000) |
(1.000) |
(1.000) |
|
|
|
|
|
|
|
|
8. Increase/Decrease In Bank Borrowings |
10.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
9. Increase/Decrease In Net Sales |
58.822 |
24.404 |
24.967 |
29.129 |
33.873 |
|
|
|
|
|
|
|
|
BREAK-UP OF 4 |
|
|
|
|
|
|
(i) Increase/Decrease In Raw Material |
0.571 |
0.097 |
0.065 |
0.052 |
0.039 |
|
(ii) Increase/Decrease In Stock In Progress |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(iii) Increase/Decrease In Finished Goods |
5.300 |
3.050 |
1.600 |
4.850 |
3.500 |
|
(iv) Increase/Decrease In Receivables |
|
|
|
|
|
|
(a) Domestic |
10.500 |
0.500 |
0.500 |
0.500 |
0.500 |
|
(b) Export |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(v) Increase/Decrease In Stores & Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(vi) Increase/Decrease In Other Current Assets |
0.396 |
0.310 |
0.678 |
2.016 |
2.587 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH OF MRS. GEETA B. MARUDA
(RS. IN MILLIONS)
|
PARTICULARS |
AMOUNT |
|
|
ASSETS |
|
|
|
Immovable
Property |
|
9.820 |
|
Aakash Complex,
Gagan Vihar Apartment, Opposite National Handloom, Nava Wadaj, 132 Ft. Ring
Road, Ahmedabad - 380013 |
9.820 |
|
|
|
|
|
|
Movable Property
|
|
6.179 |
|
Capital in M/s
Nextgen Creation |
3.232 |
|
|
Capital in
Aakash Auto |
1.467 |
|
|
Maruti Car |
0.300 |
|
|
Jewellery |
1.180 |
|
|
|
|
|
|
TOTAL ASSETS (A) |
|
15.999 |
|
|
|
|
|
LIABILITIES |
|
|
|
Loan from Bank
of Baroda |
1.773 |
|
|
|
|
|
|
TOTAL
LIABILITIES (B) |
|
1.773 |
|
|
|
|
|
NET WORTH (A-B) |
|
14.226 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
PART – I
QUESTIONNAIRE
|
GENERAL |
|
|
Purpose for which
valuation is made |
To determine
fair market value of the property for the purpose of loan from Banks of India
|
|
|
|
|
Date as on which
valuation is made |
21.07.2014 |
|
|
|
|
Name of
Registered Valuer and Registration No. |
Haresh S. Parikh
Regi No. CAT I/430/2002-03 |
|
|
|
|
Name of Owner/
Owners |
Mrs. Geetaben
Bharatbhai Maruda |
|
|
|
|
If the property
is under Joint ownership/ co ownership? |
N.A. |
|
|
|
|
Location,
Street, Ward No. |
5/90, Gagan Vihar
Apartment, Opposite Kalupur Com. Co-op Bank Wadaj Branch, 132’ Ring Road,
Nava Wadaj, Ahmedabad |
|
|
|
|
Survey No./ Plot
No. |
F.P. No.761/3,
T.P.S. No.28, Mouje” Wadaj, Taluka City District Ahmedabad |
|
|
|
|
Is the Property situated
in Residential/ Commercial / mixed/ Industrial area? |
Commercial Area |
|
|
|
|
Classification
of locality |
Middle Class |
|
|
|
|
Proximity to
civic amenities |
Within 3 K.M. |
|
|
|
|
Proximity to
surface communication |
By Buses, Trucks
and Auto Rickshaw |
|
|
|
|
Area of land
supported by documentary proof |
Actual Built up
area 106.67 sq. yd. on Ground Floor. |
|
|
|
|
Roads, Street or
lanes, on which land is abutting. |
Margin Space
then T.P. Road |
|
|
|
|
Status of land, freehold
or leasehold land? |
It is freehold
property |
|
|
|
|
If leasehold the
name of leaser, nature of lease, due date of commencement and termination of
lease and terms of renewal: Initial Premium Ground rent
payable per annum Unearned
increase payable to the leaser in the event of sale or transfer. |
Yes Not Known Not Known Not Known |
|
|
|
|
Is there any
restriction covenant in regard to the use of land? |
As per AMC
Bylaws. |
|
|
|
|
Does the land fall
in an area included in any Town planning scheme any development plan or any
statutory body? |
As per AMC
Development Plan |
|
|
|
|
IMPROVEMENTS |
|
|
Is the building
owner occupied/ tenanted both? |
Self-Occupied |
|
|
|
|
RENTS |
|
|
Give details of
water and electricity charges is any, to be bear by the owner. |
Owner |
|
|
|
|
If pump is
installed, who has to bear the maintenance? |
Owner |
|
|
|
|
Who has to bear
the cost of electricity charges for lighting of common space? |
Owner |
|
|
|
|
What is the
amount of property tax? Who has to bear it? Give the details with the documentary proof |
As it is not
tenanted property owner has to bear the property tax. |
|
|
|
|
SALES: |
|
|
Give instanced of
sales of immovable property in the locality in details. |
Not Available |
|
|
|
|
Land rate
adopted in this valuation |
As per valuation
|
|
|
|
|
If sales
instanced are not available, the basis of arriving at the land rate. |
By local Inquiry
|
|
|
|
|
COST OF
CONSTRUCTION: |
|
|
A. Years of
commencement of the construction B. Present age
of Building C. Future
expected lift of Building |
2007 07 year 53 years |
|
|
|
|
What was the method
of construction by contract or by employing labour or both? |
By Contract. |
|
|
|
|
PART II GENERAL AND
TECHNICAL DETAILS OF THE PROPERTY |
|
|
Name of the
Owner |
Mrs. Geetaben
Bharatbhai Maruda |
|
|
|
|
Address of the
Property |
5/90, Gagan
Vihar Apartment, Opposite Kalupur Com. Co-operative Bank Wadaj Branch, 132
Ring Road, Nava Wadaj, Ahmedabad |
|
|
|
|
Survey No./Plot
No. |
F.P. No.761/3,
T.P.S. No.28, Mouje: Wadajm Taluka: City District: Ahmedabad |
|
|
|
|
Super Built-up
Area |
Actual Built up
area 106.67 sq. yd. on Ground Floor |
|
|
|
|
Details of
Adjoining Property : North: Margin space then another Block South: Society Road East: Another Flat West: Margin Space then T. P. Road |
|
|
|
|
|
Property
Features: Property is abutting
T.P. Road and very near to the ring road moreover both the side of ring road
is developed as a commercial shops, frontage is more compared to its depth
and it has been already converted in to commercial use from more than 7
years. So the market value of the property is comparatively high then
residential property. Heterogeneous development is there. |
|
|
Details of the
Building: It
is low rise type load bearing cum R.C.C. frames structure. Which includes wall
footings, R.C.C footings, load bearing walls, R.C.C. columns, beams, slabs
and partition walls in it. It is residential building converted into
commercial showroom. U.G. water tank is there. Water supply and drainage
system provided by AMC. Electricity
supply by Torrent Power Limited and service no.is: 813301 Tenament
No. is: 0528 - 31 - 1666 - 0001 – S. |
|
|
|
|
|
Specification: |
|
|
Type of
construction: |
Load bearing cum
R.C.C. Frame structure. |
|
Foundation and
Plinth |
Wall Footing, R.C.C.
Footings, Load bearing walls, R.C.C. columns and tie beams as per structure
details. |
|
Superstructure |
Load bearing
walls, R.C.C. Columns, beams, slabs and partition walls. |
|
Floor height |
10’ht. |
|
Flooring |
IPS on work shop
area and vitrified tiles on rest of the area |
|
Plastering |
Finish plaster
inner side and sand face plaster outer side |
|
Painting |
Flat Paint inner
side and cement paint outer side. |
|
Door |
Rolling
Shutters, Glass doors, wooden frames and shutters |
|
Window |
Aluminum section
frames and fix glass shutters. |
|
Electrocution |
Concealed type
Wiring. |
|
Particulars |
Area (in Sq.
yd.) |
Market Rate (Rs. Per sq.
yd.) |
Market value in
Rs. |
|
|
|
|
|
|
Ground Floor |
106.67 |
37,500 |
4.000 |
|
|
|
|
|
|
Total |
4.000 |
||
SUMMARY
Considering the
oral inquiries as a base, as per my opinion, the present fair market value of the
property of Mrs. Geetaben Bharatbhai Maruda, 5/90, Gagan Vihar Apartment,
Opposite Kalupur Com. Co-operative Bank Wadaj Branch, 132 Ring Road, Nava
Wadaj, Ahmedabad, Gujarat, India is Rs.4.000 Millions as on 21.07.20014.
FAIR MARKET VALUE:
RS.4.000 MILLIONS
REALIZABLE VALUE (10%LESS THAN F.M.V.): RS.3.600 MILLIONS
------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCE:
· Mr. Dinesh K. Shah
· Mr. Sanjay Sathvara
· Mr. Vasubhai
· Mr. Atul Shah
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 records 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.61.56 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.82.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIT |
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.