|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ORANGE CLOTHING FACTORY |
|
|
|
|
Registered
Office : |
89/708, Motilal Nagar, No.1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
01.03.2011 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.4.772 Millions |
|
|
|
|
IEC No.: |
0312012161 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACFO6127A |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Textiles, Handloom, Powerlooms. |
|
|
|
|
No. of Employees
: |
27 (Approximately) (Office – 7 and Factory – 20) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having a satisfactory
track record. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring has
risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus on providing payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Mihir Vora |
|
Designation : |
Partner |
|
Contact No.: |
91-9029474365 |
|
Date : |
07.02.2014 |
LOCATIONS
|
Registered Office/ Factory : |
89/708, Motilal Nagar, No.1, Main Road, Near Sidharth Hospital,
Goregaon (West), Mumbai – 400104, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9029474365 (Mr. Mihir Vora) 91-9833300188 (Mr. Omkar Koli) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Mihir Kiritkumar Vora |
|
Designation : |
Partner |
|
Address : |
21, Hira Apartment, Shardhanand Road, Extension, Vile Parle (East),
Mumbai – 400057, Maharashtra, India |
|
Date of Birth/Age : |
12.10.1981 |
|
Qualification : |
B. Com |
|
Experience : |
14 Years |
|
PAN No.: |
ACAPV5226D |
|
|
|
|
Name : |
Mr. Omkar Chandrakant Koli |
|
Designation : |
Partner |
|
Address : |
205, Versova Vinayak Society, Four Bangalow Mhada, Andheri (West),
Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1984 |
|
Qualification : |
B.A. |
|
Experience : |
7 Years |
|
PAN No.: |
ASLPK5843J |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Textiles, Handloom, Powerlooms. |
|
|
|
|
Exports : |
|
|
Products : |
Ready Woven Garments |
|
Countries : |
Sweden |
|
|
|
|
Terms : |
|
|
Purchasing : |
Credit (60 days) (TT Payment for Exports) |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
Installed Capacity |
Actual Production |
|
|
|
|
|
Ready Made Kids, Means, Ladies Wear Woven Garments |
175 Sub
Contracted Machine and In House Finishing Unit |
30,000 PCS Per
Months |
GENERAL INFORMATION
|
Suppliers : |
· Deep Enterprise (Trims Suppliers) Reported: Mr. Yatin (91-9819181941) · Shree Syntex (Fabric Suppliers) Reported: Mr. Vasant (91-9821127937) · RMG Fabrics Reported: Mr. Sanjay Gupta (91-9821526030) · A. K. Packaging · Angel Label Division · Archana Garments · Bajaj Enterprises · Classic Creation · Dhaga Ghar Threads Private Limited · Dinesh Kumar and Company · Eco Garment Processors · Garpack Enterprises Private Limited · G. J. Jain Enterprises Private Limited · Isha Corporation · Kalpataru Textiles · KTN Fashions Private Limited · National Printing Press · Orange Marketing · Padmavati Enterprise · Pas Corporation · Sai Raj Processors · Shree Dayal Trading Company · Unique Tags Limited · Vaishnavi Fashions · Yamini Creations |
|
|
|
|
Customers : |
· Fashion Trade AB (Sweden) · Lifestyle International Private Limited, Max Division Landmark Group, 77 Town Centre Building No.3, West Wing, Off Old Airport Road, Yemlur, Bangalore – 560067, Karnataka, India Reported: Mr. Rohit Gupta (91-8041882026) · Trent Hyper Market Limited Trent House, G Block, 7th Floor, Plot No.C-60, Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra, India Reported: Mrs. Shushma Shilke (91-22-61587507) · Marwadi Shares and Finance Limited |
|
|
|
|
No. of Employees : |
27 (Approximately) (Office – 7 and Factory – 20) |
|
|
|
|
Bankers : |
· Standard Chartered Bank SCB Tower, Goregaon (East), Mumbai, Maharashtra, India · Dena Bank · Deutsche Bank · Punjab National Bank · State Bank of Mysore |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K. Gala and Associates Chartered Accountants |
CAPITAL STRUCTURE
(AS ON 31.12.2013 – 9 Months)
|
Capital Investment : |
|
|
Owned : |
Rs.4.772 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.4.772 Millions |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 (9 Months) |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.772 |
(4.941) |
(3.316) |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.772 |
(4.941) |
(3.316) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1.600 |
2.709 |
1.970 |
|
|
TOTAL BORROWING |
1.600 |
2.709 |
1.970 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.372 |
(2.232) |
(1.345) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.345 |
0.387 |
0.246 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.194
|
7.429 |
4.241 |
|
|
Sundry Debtors |
3.401
|
7.832 |
0.724 |
|
|
Cash & Bank Balances |
0.695
|
1.228 |
0.690 |
|
|
Other Current Assets |
0.855
|
0.351 |
0.200 |
|
|
Loans & Advances |
0.000
|
0.504 |
0.201 |
|
Total
Current Assets |
17.145
|
17.344 |
6.056 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
10.935
|
18.894 |
6.042 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.183
|
1.069 |
1.605 |
|
Total
Current Liabilities |
11.118
|
19.963 |
7.647 |
|
|
Net Current Assets |
6.027
|
(2.619) |
(1.591) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.372 |
(2.232) |
(1.345) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 (9 Months) |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
32.751 |
43.350 |
26.509 |
|
|
|
Other Income |
1.218 |
0.187 |
0.091 |
|
|
|
TOTAL |
33.969 |
43.537 |
26.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
17.388 |
22.638 |
11.913 |
|
|
|
Carriage Inward |
0.278 |
0.408 |
0.087 |
|
|
|
Dying and Washing Charges |
1.349 |
1.441 |
0.738 |
|
|
|
Embroidery Charges |
0.155 |
0.286 |
0.280 |
|
|
|
Labour Charges |
10.990 |
11.505 |
6.844 |
|
|
|
Excise Duty |
0.000 |
1.644 |
2.303 |
|
|
|
Wages |
0.000 |
0.972 |
0.750 |
|
|
|
Air Freight Charges |
0.986 |
0.000 |
0.000 |
|
|
|
Bank Charges |
0.020 |
0.037 |
0.011 |
|
|
|
Brokerage on Finance |
0.054 |
0.000 |
0.003 |
|
|
|
Commission Expenses |
0.010 |
0.058 |
0.511 |
|
|
|
Courier Charges |
0.025 |
0.000 |
0.000 |
|
|
|
Custom Duty |
0.022 |
0.000 |
0.000 |
|
|
|
Electricity Expenses |
0.129 |
0.156 |
0.140 |
|
|
|
Interest on Loan |
0.224 |
0.238 |
0.207 |
|
|
|
Job charges Work |
0.582 |
0.000 |
0.000 |
|
|
|
Rent |
0.348 |
0.215 |
0.164 |
|
|
|
Salaries |
0.307 |
0.120 |
0.096 |
|
|
|
Shipping Charges |
0.015 |
0.000 |
0.000 |
|
|
|
Staff Welfare |
0.009 |
0.275 |
0.053 |
|
|
|
Travelling and Conveyance Expenses |
0.122 |
0.262 |
0.000 |
|
|
|
Other Expenses |
0.071 |
2.910 |
2.115 |
|
|
|
TOTAL |
33.084 |
43.165 |
26.215 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.885 |
0.372 |
0.385 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
0.041 |
0.073 |
0.040 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.844 |
0.299 |
0.345 |
|
Note: Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 (9 Months) |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.48
|
0.69 |
1.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.58
|
0.69 |
1.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.83
|
1.69 |
5.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
(0.06) |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.34
|
(0.55) |
(0.59) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54
|
0.87 |
0.79 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT
IF WORKING CAPITAL REQUIREMENTS
OPERATING
STATEMENT
(RS. IN MILLIONS)
|
Particulars |
31.03.2014 |
31.03.2015 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
GROSS INCOME |
|
|
|
Sales (Net if Returns) |
|
|
|
-Export Sales |
16.000 |
25.000 |
|
-Local Sales |
34.000 |
35.000 |
|
-Other Direct Income |
1.500 |
2.000 |
|
Sub Total |
51.500 |
62.000 |
|
|
|
|
|
% age rise (+) or fall (-) in net sales as compared to previous year |
18.29% |
20.39% |
|
|
|
|
|
Cost of Sales |
|
|
|
Raw Material including |
|
|
|
-Indigenous |
0.000 |
0.000 |
|
-Imported |
25.000 |
32.000 |
|
|
|
|
|
Stores and Spares |
|
|
|
-Indigenous |
0.000 |
0.000 |
|
-Imported |
0.000 |
0.000 |
|
|
|
|
|
Other & Spares |
|
|
|
Imported |
0.000 |
0.000 |
|
Indigenous |
0.000 |
0.000 |
|
|
|
|
|
Direct Expenses |
18.000 |
21.000 |
|
|
|
|
|
Sub
Total |
43.000 |
53.000 |
|
|
|
|
|
Add: Opening Stock |
7.429 |
7.500 |
|
Sub
Total |
50.429 |
60.500 |
|
|
|
|
|
Less: Closing Stock |
7.500 |
10.000 |
|
|
|
|
|
SUB
TOTAL (Cost
of sales) |
42.929 |
50.500 |
|
|
|
|
|
Selling, Administrative & General
Expenses |
6.500 |
8.000 |
|
|
|
|
|
Operating Profit Before Interests and
Depreciation |
2.071 |
3.500 |
|
|
|
|
|
Interest |
0.500 |
1.000 |
|
Depreciation |
0.052 |
0.050 |
|
|
|
|
|
Operating profit After Interests and
Depreciation |
1.519 |
2.450 |
|
|
|
|
|
Add: other non-operating Incomes |
0.000 |
0.000 |
|
|
|
|
|
Sub
Total (Income) |
0.000 |
0.000 |
|
|
|
|
|
Less: Other non-operating Expenses |
0.000 |
0.000 |
|
Preliminary Exp. W/O |
0.000 |
0.000 |
|
|
|
|
|
Sub
Total (Expenses) |
0.000 |
0.000 |
|
|
|
|
|
Net
of other non-operating Income/ Expenses |
0.000 |
0.000 |
|
|
|
|
|
Net Profit before tax/loss |
1.519 |
2.450 |
|
|
|
|
|
Provision for taxes |
0.000 |
0.000 |
|
|
|
|
|
Net profit after Tax/loss |
1.519 |
2.450 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS.
IN MILLIONS)
|
LIABILITIES |
31.03.2014 |
31.03.2015 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
Short Term Bank Borrowings from banks
(Including Bills purchased, discounted and excess borrowings placed on
repayment basis) |
|
|
|
(i) From Applicant Bank |
7.500 |
7.500 |
|
(ii) From Other Banks |
0.000 |
0.000 |
|
(iii) (Of which BP and BD) – FBP/ FBD |
0.000 |
0.000 |
|
|
|
|
|
Sub Total (A) |
7.500 |
7.500 |
|
|
|
|
|
Short Term Borrowings from Others |
0.000 |
0.000 |
|
|
|
|
|
Sundry Creditors(Trade) |
7.000 |
8.500 |
|
|
|
|
|
Advance Payment from Customers / Deposit
From Dealers |
0.000 |
0.000 |
|
|
|
|
|
Provision for taxation if any |
0.000 |
0.000 |
|
|
|
|
|
Divided Payable |
0.000 |
0.000 |
|
|
|
|
|
Other Statutory Liabilities (Due within one
year) |
0.500 |
0.700 |
|
|
|
|
|
Deposit / Installments of Term Loan |
0.000 |
0.000 |
|
|
|
|
|
Other Current Liabilities and Provision
(Due within 1 years) |
0.500 |
0.500 |
|
|
|
|
|
Sub
Total |
8.000 |
9.700 |
|
|
|
|
|
TOTAL
CURRENT LIABILITIES (A+B) |
15.500 |
17.200 |
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
Deferred Tax Liability |
0.000 |
0.000 |
|
|
|
|
|
Preference Shares (Redeemable after one
year) |
0.000 |
0.000 |
|
|
|
|
|
Term Loans (exclusive Payable within one years) |
0.000 |
0.000 |
|
|
|
|
|
Loan Against Property |
0.000 |
0.000 |
|
|
|
|
|
Unsecured Loans |
0.000 |
0.000 |
|
|
|
|
|
Brokers Current Account |
0.000 |
0.000 |
|
|
|
|
|
Other Term Liabilities (Unsecured Loans) |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
TERM LIABILITIES |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
OUTSIDE LIABILITIES |
15.500 |
17.200 |
|
|
|
|
|
NET
WORTH |
|
|
|
Capital Account |
3.927 |
5.446 |
|
Share Application Money |
0.000 |
0.000 |
|
Quasi Capital |
0.000 |
0.000 |
|
Security Premium |
0.000 |
0.000 |
|
Profit and Loss A/c |
1.519 |
2.450 |
|
Others |
0.000 |
0.000 |
|
Total
Networth |
5.446 |
7.896 |
|
|
|
|
|
TOTAL
LIABILITIES |
20.946 |
25.096 |
|
|
|
|
|
ASSETS
|
|
|
|
CURRENT
ASSETS |
|
|
|
Cash & Bank Balance |
0.495 |
0.795 |
|
|
|
|
|
Receivable other than deferred and export
including bills purchased and discounted by the bankers |
10.000 |
10.200 |
|
Export receivables including bill
purchased and discounted by the bankers |
1.500 |
2.500 |
|
|
|
|
|
Advance payment for Raw Materials |
0.000 |
0.000 |
|
|
|
|
|
Sundry Debtors |
0.000 |
0.000 |
|
|
|
|
|
Inventories |
0.000 |
0.000 |
|
|
|
|
|
Stock in trade |
7.500 |
10.000 |
|
|
|
|
|
Finished Goods |
0.000 |
0.000 |
|
|
|
|
|
Advances to suppliers of Raw Materials and
Stores/ Spares |
0.000 |
0.000 |
|
|
|
|
|
Loans and Advances |
0.000 |
0.000 |
|
|
|
|
|
Duties and Taxes |
0.000 |
0.000 |
|
Deposits |
0.000 |
0.000 |
|
Other Current Assets |
0.800 |
1.000 |
|
|
|
|
|
TOTAL
CURRENT ASSETS |
20.295 |
24.495 |
|
|
|
|
|
FIXED
ASSETS |
|
|
|
Gross Block (Land and Building Machinery,
Construction in progress etc.) |
0.000 |
0.000 |
|
Depreciation to due |
0.000 |
0.000 |
|
Net
Block |
0.300 |
0.250 |
|
|
|
|
|
Capital Work-in-progress/ Deferred tax
Assets |
0.000 |
0.000 |
|
|
|
|
|
Other current Assets (Such as dues from
associates, investments/ dues which are not of nature of current assets) |
0.000 |
0.000 |
|
Security deposits/ tender deposits TDR’s Pledged
with Banks for BGs and LCs |
0.351 |
0.351 |
|
|
|
|
|
Total
Other Non-current Assets |
0.351 |
0.35 |
|
|
|
|
|
Intangible assets, Misc, Expenditures
(Such as goodwill, doubtfull debts etc.) |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
ASSETS |
20.946 |
25.096 |
|
|
|
|
|
Tangible Net Worth |
5.446 |
7.896 |
|
|
|
|
|
Net Working Capital |
4.795 |
7.295 |
|
|
|
|
|
Current Ratio |
1.31 |
1.42 |
|
|
|
|
|
Total
Outside Liabilities/ tangible Net worth |
2.85 |
2.18 |
|
|
|
|
|
Quasi
Debt Equity Ratio |
2.85 |
2.18 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF
CURRENT ASSETS AND CURRENT LIABILITIES
(RS.
IN MILLIONS)
|
Particulars |
31.03.2014 |
31.03.2015 |
|
|
(Estimated) |
(Projected) |
|
A. CURRENT ASSETS |
|
|
|
Raw Materials (Including stores and Other Items used in the process of manufacturer |
|
|
|
Imported |
0.000 |
0.000 |
|
- Month’s Consumption |
-- |
-- |
|
Indigenous |
0.000 |
0.000 |
|
- Month’s Consumption |
-- |
-- |
|
|
|
|
|
Other Consumable spares(excluding those included under item 1 above) |
|
|
|
Imported |
0.000 |
0.000 |
|
- Month’s Consumption |
-- |
-- |
|
Indigenous |
0.000 |
0.000 |
|
- Month’s Consumption |
-- |
-- |
|
|
|
|
|
Stock in process |
7.500 |
10.000 |
|
Months cost of Production |
2.10 |
2.38 |
|
|
|
|
|
Finished Goods |
|
|
|
Months Cost of Sales |
|
|
|
|
|
|
|
Receivables other than export and deferred receivables (Including BP/BD by the Bankers) |
10.000 |
10.200 |
|
Month’s Sales |
7.50 |
4.90 |
|
|
|
|
|
Exports receivables (Including BP/BD) |
1.500 |
2.500 |
|
Month’s Sales |
-- |
-- |
|
|
|
|
|
Debtors |
0.000 |
0.000 |
|
Advances to Suppliers of Raw Materials |
0.000 |
0.000 |
|
Loans and Advances |
0.000 |
0.000 |
|
Duties and Taxes |
0.000 |
0.000 |
|
Deposits |
0.000 |
0.000 |
|
Other Current Assets |
1.295 |
1.795 |
|
|
|
|
|
TOTAL CURRENT ASSETS |
20.295 |
24.495 |
|
|
|
|
|
B) CURRENT LIABILITIES |
|
|
|
(Other than bank borrowings for working capital) |
|
|
|
|
|
|
|
Creditors for purchase of raw materials, stores and consumable spares |
7.000 |
8.500 |
|
Months' purchases : |
-- |
--- |
|
|
|
|
|
Advance Payment from Customers/ Deposit from dealers |
0.000 |
0.000 |
|
|
|
|
|
Statutory Liabilities |
0.500 |
0.700 |
|
|
|
|
|
Advances Received from Customers |
0.000 |
0.000 |
|
Provision for taxation |
0.000 |
0.000 |
|
Others current Liabilities |
0.500 |
0.500 |
|
|
|
|
|
Total Current Liabilities |
8.000 |
9.700 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE AND WORKING CAPITAL
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2014 |
31.03.2015 |
|
|
(Estimated) |
(Projected) |
|
|
|
|
|
1 Total current assets |
20.295 |
24.495 |
|
|
|
|
|
2 Other Current Liabilities |
8.000 |
9.700 |
|
[Other than bank borrowings] |
|
|
|
|
|
|
|
3 Working capital gap [WCG] |
12.295 |
14.795 |
|
|
|
|
|
4 Min. stipulated Net Working Capital – 25 % of total current assets
other than Export Receivables |
3.074 |
3.699 |
|
|
|
|
|
5 Actual/ Projected net working capital |
4.795 |
7.295 |
|
|
|
|
|
6 Item 3 minus item 4 |
9.221 |
11.096 |
|
|
|
|
|
7 item 3 minus item 5 |
7.500 |
7.500 |
|
|
|
|
|
8 Maximum permissible bank finance [item 6 or 7, whichever is lower] |
7.500 |
7.500 |
|
|
|
|
|
9 Excess borrowings, if any representing shortfall in NWC [4-5] |
(1.721) |
(3.596) |
------------------------------------------------------------------------------------------------------------------------------
MR.
MIHIR KIRITKUMAR VORA
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.12.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.785 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2.785 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.785 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.450 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.330 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.005 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
0.005 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.000 |
|
|
Net Current Assets |
|
|
0.005 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.785 |
|
------------------------------------------------------------------------------------------------------------------------------
MR.
OMKAR CHANDRAKANT KOLI
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.12.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.667 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2.667 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.668 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.668 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.335 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.870 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.442 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.023 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
0.023 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.000 |
|
|
Net Current Assets |
|
|
0.023 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.335 |
|
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF INCOME
(RS. IN MILLIONS)
|
Particulars |
2013-2014 |
||
|
|
|
|
|
|
Profit and Gains of Business or Profession |
|
|
|
|
Net Profit. Loss as per P and L A/c (As per statement Enclosed) |
|
0.299 |
|
|
Add: Disallowables/ Additions |
|
|
|
|
As per Statement Enclosed |
0.073 |
|
|
|
Remuneration Paid to Partner |
0.674 |
0.747 |
|
|
|
|
|
|
|
Less: Deduction/ Expenses Claimed |
|
|
|
|
Depreciation as per Statement |
0.073 |
|
|
|
Remuneration Allowed to Partner |
0.674 |
(0.747) |
0.299 |
|
|
|
|
|
|
SUMMARY OF TOTAL
INCOME |
|||
|
Profits and Gains of Busie4nss or Profession
|
|
|
|
|
Own Business or Profession |
|
|
0.299 |
|
|
|
|
|
|
Gross Total
Income |
|
|
0.299 |
|
|
|
|
|
|
Rounded Off |
|
|
0.299 |
|
|
|
|
|
|
CALCULATION OF
TAX |
|||
|
Tax on Total Income |
|
0.090 |
|
|
Add: Education Cess @ 2.00% |
|
0.002 |
|
|
Secondary and Higher Edu. Cess @ 1.00% |
|
0.001 |
|
|
|
|
0.093 |
|
|
|
|
|
|
|
Add: Interests u/s 234-A for 2 Months @
1.00% Interest u/s 234-B |
|
0.002 |
|
|
On 92500 for 8 Months @ 1.00% |
|
0.007 |
|
|
|
|
|
|
|
Interests u/s 234-C |
|
|
|
|
For Shortfall in 1st Inst. |
0.001 |
|
|
|
For Shortfall in 2nd Inst. |
0.002 |
|
|
|
For Shortfall in 3rd Inst. |
0.001 |
0.004 |
|
|
|
|
0.012 |
|
|
|
|
|
|
|
Less: Self-Assessment Tax Paid on 01.11.2013 |
|
(0.106) |
|
|
BSR: 0250271 CIN: 90171 |
|
|
|
|
Net Tax Refundable (Subject to Interests u/s
244 A) |
|
|
(0.001) |
------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCE:
· Deep Enterprise (Trims Suppliers)
Reported: Mr. Yatin (91-9819181941)
· Shree Syntex (Fabric Suppliers)
Reported: Mr. Vasant (91-9821127937)
· RMG Fabrics
Reported: Mr. Sanjay Gupta (91-9821526030)
· Fashion Trade AB (Sweden)
· Lifestyle International Private Limited, Max Division
Landmark Group, 77 Town Centre Building No.3, West Wing, Off old Airport Road, Yemlur, Bangalore – 560067, Karnataka, India
Reported: Mr. Rohit Gupta (91-8041882026)
· Trent Hyper Market Limited
Trent House, G Block, 7th Floor, Plot No.C-60, Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra, India
Reported: Mrs. Shushma Shilke (91-22-61587507)
------------------------------------------------------------------------------------------------------------------------------
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.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.