MIRA INFORM REPORT
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Report Date : |
20.12.2014 |
IDENTIFICATION DETAILS
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Name : |
BHADRESH
TRADING CORPORATION LIMITED |
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Registered
Office : |
101 -104, Tower A, Peninsula, Corporate Park, G.K. Road, Lower Parel (West), Mumbai – 400013, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
21.05.2008 |
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Com. Reg. No.: |
11-182506 |
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Capital
Investment / Paid-up Capital : |
Rs. 435.204
Millions |
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CIN No.: [Company Identification
No.] |
U40105MH2008PLC182506 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB18530B |
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PAN No.: [Permanent Account No.] |
AADCB4591K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader of Raw Cotton, Cotton Yarn, Fabrics and Other Agro Commodities. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (34) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
7700000 |
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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 moderate track record. As per registrar of companies the date of Balance Sheet (i.e.
financial filed) is shown as 31.03.2014 but the documents related to
financials are not available from any source. As per available financial of 2013, the rating is constrained on
account of company’s moderate financial risk profile marked by thin
profitability margins and huge external borrowing taken by the company, which
acts as threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long Bank Facilities = BBB |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
15.12.2014 |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
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Name : |
MRs. Lalita |
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Designation : |
Account Department |
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Contact No.: |
91-22-61171101 |
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Date : |
19.12.2014 |
LOCATIONS
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Registered Office : |
101 -104, Tower A, Peninsula, Corporate Park, G.K. Road,
Lower Parel (West), Mumbai – 400013, Maharashtra, India
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Tel. No.: |
91-22-23800007/
23802004/ 5/
67200021/ 61505001/ 23800008 |
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Fax No.: |
91-22-23896467/
23800047/ 23640451/ 23800007 |
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E-Mail : |
anup3339@gmail.com bhadresh@bom2.net.in |
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Website : |
http://www.bhadreshindia.com |
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Administrative /
Export Office : |
325/ 326, 3rd Floor, A to Z
Industrial Premises, Next to Peninsula Tower, Lower Parel (West), Mumbai –
400013, Maharashtra, India |
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Tel. No.: |
91-22-61505001/ 24948406/ 24948410 |
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Fax No.: |
91-22-24948405 |
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Cotton Green Office / Branch Office 1 : |
S-75 and 76, East India
Cotton Association, |
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Tel. No.: |
91-22-32469623 |
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Fax No.: |
91-22-23750308 |
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Branch Office 2 : |
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Tel. No.: |
91-281-2443561/ 9650 |
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Fax No.: |
91-281-2459704 |
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Overseas Office : |
Rm.2012, Building A, No.1088, |
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Tel. No.: |
+86-21-6109 9690/ 6109 9610 |
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Fax No.: |
+86-21-6109 9630 |
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E-Mail : |
DIRECTORS
As on 30.09.2014
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Name : |
Mr. Bhadresh Vasantrai Mehta |
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Designation : |
Managing director |
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Address : |
402, Manju Veena Apartment, 2/A, Narayan Dabholkar road, Opposite Nepean Sea Road,
Mumbai – 400 006, Maharashtra, India |
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Date of Birth/Age : |
28.10.1957 |
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Date of Appointment : |
01.06.2013 |
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PAN No.: |
AACPM0152D |
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DIN No.: |
01206174 |
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Other
Directorship:
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Name : |
Mr. Parth Bhadresh Mehta |
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Designation : |
Director |
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Address : |
402, Manju Veena Apartment, 2/A, Narayan Dabholkar road, Opposite Nepean Sea Road, Mumbai
– 400 006, Maharashtra, India |
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Date of Birth/Age : |
30.04.1988 |
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Date of Appointment : |
01.06.2013 |
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PAN No.: |
ANWPM9376N |
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DIN No.: |
01802821 |
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Other
Directorship:
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Name : |
Mrs. Heena Bhadresh Mehta |
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Designation : |
Director |
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Address : |
402, Manju Veena Apartment, 2/A, Narayan Dabholkar road, Opposite Nepean Sea Road,
Mumbai – 400 006, Maharashtra, India |
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Date of Birth/Age : |
13.10.1958 |
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Date of Appointment : |
21.05.2008 |
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PAN No.: |
AFPPM2633H |
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DIN No.: |
00655763 |
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Other directorship :
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KEY EXECUTIVES
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Name : |
Mrs. Lalita Thakkar |
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Designation : |
CFO |
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Address : |
B-203, Mount Classic 1, Yogi Hills. Mulund West, Mumbai – 400080,
Maharashtra, India |
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Date of Birth/Age : |
12.11.2014 |
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PAN No. : |
AYWPP3156G |
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Name : |
Mrs. Amita Karia |
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Designation : |
Company Secretary |
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Address : |
A/24, Sneha Sadan, 5th Floor, Mangalwadi, Girgaum, Mumbai –
400004, Maharashtra, India |
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Date of Birth/Age : |
09.10.1987 |
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PAN No. : |
ARYPG5283E |
MAJOR SHAREHOLDERS
As on 30.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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Bodies corporate |
28.69 |
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Directors or relatives of Directors |
58.14 |
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Other top fifty shareholders |
7.61 |
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Others |
5.56 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Raw Cotton, Cotton Yarn, Fabrics and Other Agro Commodities. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS = Not Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
· Bank of Baroda, 10/12, 4th Floor, Mumbai Samachar Marg, Fort, Mumbai - 400001, Maharashtra, India · Dena Bank, Overseas Branch, 17 - B, Horniman Circle, Fort, Mumbai - 400023, Maharashtra, India · State Bank of Travancore, Corporate Finance Branch, 112-115, Tulsiani, Chambers, Fre Press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra, India · Stae Bank of Bikaner And Jaipur, 235-237, Peninsula House, Dr. D.N. Road, Fort, Mumbai - 400001, Maharashtra, India · Allahabad Bank, Industrial Finance Branch, 2nd Floor, 37, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India
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Facilities : |
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Auditors : |
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Name : |
James Shah and Company Chartered Accountants |
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Address : |
230/231, Majestic Shopping Centre, 2Nd Floor, 144, JSS
Road, Girgaon, Mumbai – 400004, Maharashtra, India |
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PAN
No. : |
AAFPS8223G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary Company: |
· Giriraj Ginning and Pressing Private Limited CIN No.: U17119GJ1998PTC034650 · Raghuvanshi Cotton Ginning and Ppressing Private Limited CIN No.: U17110GJ2006PTC047456 · Cashcot Industries Pte Limited |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· Galaxy Cotton and Textiles Private Limited CIN No.: U17119GJ1994PTC023788 · Britex Cotton International Limited CIN No.: U51900MH1999PLC120968 · Bhadresh Agro Venture Private Limited CIN No.: U01111MH2009PTC195634 · Bhadresh Infra Venture Private Limited CIN No.: U45202MH2009PTC195679 · Bhadresh Natural Resources Private Limited CIN No.: U14200MH2009PTC195633 · BTC Cashcot Industries Limited CIN No.: U63013MH2010PLC211200 · Kin-Tex Engineers Private Limited CIN No.: U29261MH1987PTC045725 · Sumeet Promoters Private Limited CIN No.: U45202WB1990PTC050091 |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
50000000 |
Equity Shares |
Rs. 10/- each |
Rs.500.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
49706805 |
Equity Shares |
Rs. 10/- each |
Rs. 497.068
Millions |
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AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
50000000 |
Equity Shares |
Rs. 10/- each |
Rs.500.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
43520420 |
Equity Shares |
Rs. 10/- each |
Rs.435.204
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
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(1)Shareholders'
Funds |
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(a) Share Capital |
435.204 |
140.846 |
105.846 |
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(b) Reserves & Surplus |
1584.802 |
1345.465 |
792.536 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share
Application money pending allotment |
642.300 |
378.300 |
450.000 |
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Total
Shareholders’ Funds (1) + (2) |
2662.306 |
1864.611 |
1348.382 |
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(3) Non-Current Liabilities |
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|
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(a) long-term borrowings |
1087.725 |
717.435 |
217.116 |
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(b) Deferred tax liabilities (Net) |
8.891 |
6.761 |
4.787 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
3.327 |
0.100 |
0.000 |
|
Total
Non-current Liabilities (3) |
1099.943 |
724.296 |
221.903 |
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(4)
Current Liabilities |
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(a)
Short term borrowings |
7616.745 |
4068.333 |
3691.774 |
|
(b)
Trade payables |
1345.335 |
2798.670 |
166.167 |
|
(c)
Other current liabilities |
305.285 |
812.615 |
419.412 |
|
(d)
Short-term provisions |
54.996 |
21.983 |
0.000 |
|
Total
Current Liabilities (4) |
9322.361 |
7701.601 |
4277.353 |
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TOTAL |
13084.610 |
10290.508 |
5847.638 |
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II.
ASSETS |
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(1)
Non-current assets |
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|
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
129.473 |
105.610 |
87.230 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
92.668 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.00 |
|
(b) Non-current
Investments |
702.478 |
543.843 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
12.354 |
11.745 |
3.715 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
385.530 |
|
Total
Non-Current Assets |
936.973 |
661.198 |
476.475 |
|
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
7431.148 |
7316.594 |
1803.702 |
|
(c)
Trade receivables |
2638.706 |
1003.196 |
903.678 |
|
(d)
Cash and cash equivalents |
1342.845 |
1025.586 |
1014.249 |
|
(e)
Short-term loans and advances |
361.010 |
218.824 |
1649.534 |
|
(f)
Other current assets |
373.928 |
65.110 |
0.000 |
|
Total
Current Assets |
12147.637 |
9629.310 |
5371.163 |
|
|
|
|
|
|
TOTAL |
13084.610 |
10290.508 |
5847.638 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Income |
61458.632 |
56433.322 |
26719.776 |
|
|
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Other Income |
145.503 |
110.569 |
51.652 |
|
|
|
TOTAL (A) |
61604.135 |
56543.891 |
26771.428 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
58367.171 |
58500.376 |
24269.824 |
|
|
|
Employee benefit expense |
46.878 |
30.989 |
24.487 |
|
|
|
Other expenses |
1623.336 |
1615.640 |
834.953 |
|
|
|
Exceptional items |
12.965 |
3.698 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(114.554) |
(5512.892) |
880.464 |
|
|
|
TOTAL (B) |
59935.796 |
54637.811 |
26009.728 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
1668.339 |
1906.079 |
761.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1232.478 |
1507.041 |
547.911 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
435.861 |
399.038 |
213.789 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.976 |
4.745 |
4.060 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
428.885 |
394.293 |
209.729 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
144.630 |
128.275 |
70.512 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
284.255 |
266.018 |
139.217 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
527.848 |
289.919 |
150.702 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
285.553 |
28.089 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
526.550 |
527.848 |
289.919 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
45617.291 |
52902.800 |
16616.400 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.61 |
25.04 |
14.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.46
|
0.47
|
0.52
|
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
16.83
|
13.95
|
18.27
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.49
|
4.05
|
3.59
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.21
|
0.16
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.27
|
2.57
|
2.90
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.25
|
1.26
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
105.846 |
140.846 |
435.204 |
|
Reserves & Surplus |
792.536 |
1345.465 |
1584.802 |
|
Net worth |
898.382 |
1,486.311 |
2,020.006 |
|
|
|
|
|
|
long-term borrowings |
217.116 |
717.435 |
1087.725 |
|
Short term borrowings |
3691.774 |
4068.333 |
7616.745 |
|
Total borrowings |
3,908.890 |
4,785.768 |
8,704.470 |
|
Debt/Equity ratio |
4.351 |
3.220 |
4.309 |
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 |
26719.776 |
56433.322 |
61458.632 |
|
|
|
111.204 |
8.905 |
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 |
26719.776 |
56433.322 |
61458.632 |
|
Profit |
139.217 |
266.018 |
284.255 |
|
|
0.52% |
0.47% |
0.46% |
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 |
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 |
UNSECURED LOAN
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits from others |
547.010 |
502.010 |
|
Loans and advances from related parties |
336.156 |
11.234 |
|
Other loans and advances |
201.400 |
200.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from others |
0.000 |
0.542 |
|
Total |
1084.566 |
713.786 |
CORPORATE INFORMATION
Subject is a limited company domiciled in India and incorporated
under the provisions of the Companies Act, 1956. The company is a Government of
India recognised Premier Trading House and is primarily engaged in export of
Raw Cotton, Cotton Yarn, fabrics and other agro commodities. The Company is
operating in purchase of seed cotton from farms, grading, ginning and
processing of cotton and finally exporting it worldwide.
BASIS OF PREPARATION
The financial
statements of the company have been prepared in accordance with generally
accepted accounting principles in India (Indian GAAP). The company has prepared
these financial statements to comply in all material respects with the
accounting standards notified under the Companies (Accounting Standards) Rules,
2006, (as amended) and the relevant provisions of the Companies Act, 1956. The
financial statements have been prepared on an accrual basis and under the
historical cost convention.
OPERATING RESULTS:
The sales and operating income for the year ended 31st March 2013 amounted to Rs. 61458.632 Millions as against Rs. 56433.322 Millions for the previous year. During the financial year 2012-13, profits after tax has increased from Rs. 284.255 Millions to Rs. 266.018 Millions
CURRENT OUTLOOK
The company has planned to achieve higher sales turnover
during the current financial year. The Company expects to achieve better value
addition and profitability.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10512962 |
24/07/2014 |
10,575,000,000.00 |
STATE BANK OF INDIA LEAD BANK |
COMMERCIAL BRANCH, NEAR JALARAM PETROL PUMP, KALAWAD ROAD, RAJKOT, Gujarat - 360001, INDIA |
C15053283 |
|
2 |
10444290 |
07/08/2013 |
280,000,000.00 |
BANK OF BARODA |
10/12, 4TH FLOOR,, MUMBAI SAMACHAR MARG, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B82702655 |
|
3 |
10409436 |
15/02/2013 |
500,000,000.00 |
Oriental Bank of Commerce |
Nariman Point Overeas Branch, Dalamal Towers, 211, Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
B69864148 |
|
4 |
10416665 |
19/03/2014 * |
1,850,000,000.00 |
STATE BANK OF TRAVANCORE |
CORPORATE FINANCE
BRANCH, 112-115, TULSIANI, CHAM |
C00727388 |
|
5 |
10337950 |
24/02/2014 * |
750,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE |
B97966519 |
|
6 |
10252413 |
01/11/2012 * |
200,000,000.00 |
Karur Vysya Bank Ltd |
954, Gayatri Towers, Appa Saheb Marathe Marg,, Prabhadevi, mumbai, Maharashtra - 400025, INDIA |
B62867122 |
|
7 |
10192058 |
04/02/2014 * |
1,950,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
NR JALARAM PETROL PUMP, KALAWA |
B98803570 |
|
8 |
10136168 |
19/03/2010 * |
350,000,000.00 |
UNION BANK OF INDIA |
Lower Parel,Yeshwant Bhavan,, Pandurang Budhkar Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA |
A83999433 |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
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.63.07 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.77.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.