MIRA
INFORM REPORT
|
Report Date : |
27.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
L.G. FIBRE PRIVATE LIMITED |
|
|
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Registered
Office : |
G/19, Basement, |
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|
Country : |
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Date of
Incorporation : |
21.02.2013 |
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Com. Reg. No.: |
073653 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17200GJ2013PTC073653 |
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|
IEC No.: |
0813008174 |
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|
PAN No.: [Permanent Account No.] |
AACCL4304M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Processing Activity of Fibre Products, Home Textiles
and Furnishing Products. |
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|
No. of Employees
: |
15 (Approximately) (Office – 5 and Factory – 10) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
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|
Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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|
Comments : |
Subject is a new company and established itself gradually. Mr. Ashish Gajendrabhai Finava (Director) has provided us with the
information. Business is active. Payment terms are unknown. The concern can be considered for business dealings on a safe and
secured 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 worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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. Ashish Gajendrabhai Finava |
|
Designation : |
Director |
|
Contact No.: |
91-9099875659 |
|
Date : |
26.02.2014 |
LOCATIONS
|
Registered Office : |
G/19, Basement, Sarthi Avenue, Behind Satellite Police Station,
Satellite, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-30122569 |
|
Mobile No.: |
91-9574800002 91-9099875659 (Mr. Ashish Gajendrabhai Finava) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No.323/122, Bhurkhi Gaam Road, Bagodara Tarapur Highway, Bhurkhi,
Tal. Dholka, Ahmedabad – 382230, Gujarat, India |
|
Tel. No.: |
91-79-30122569 |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Ashish Gajendrabhai Finava |
|
Designation : |
Director |
|
Address : |
35, Shivam-1, Bungalow, Gala Gymkhana Road, Bhopal, Ahmedabad,
Gujarat, India |
|
Date of Birth/Age : |
14.01.1984 |
|
Qualification : |
B. Com |
|
Experience : |
10 years |
|
PAN No.: |
AAQPF1459E |
|
DIN No.: |
06477215 |
|
|
|
|
Name : |
Mr. Gajendra Ukabhai Finava |
|
Designation : |
Director |
|
Address : |
35, Shivam-1, Bungalow, Gala Gymkhana Road, Bhopal, Ahmedabad,
Gujarat, India |
|
Date of Birth/Age : |
07.12.1969 |
|
Qualification : |
B. Com |
|
Experience : |
25 years |
|
PAN No.: |
AAEPF7098P |
|
DIN No.: |
06481575 |
|
|
|
|
Name : |
Mr. Dharam Kishorbhai Patel |
|
Designation : |
Director |
|
Address : |
Maruti, Vishvnagar Street No.4, Patel Bording Main Road, Mavdi Plot,
Rajkot – 360004, Gujarat, India |
|
Date of Birth/Age : |
19.11.1982 |
|
Qualification : |
B. Com |
|
Experience : |
10 years |
|
Date of Appointment : |
20.11.2013 |
|
PAN No.: |
AJTPP8629A |
|
DIN No.: |
06745192 |
|
|
|
|
Name : |
Mr. Vasantlal Detroja |
|
Designation : |
Director |
|
Address : |
Plot No.27, 3-2-391, Satavahana Nagar Colony, L. B. Nagar, Saroor
Nagar, Rangareddy – 500074, Andhra Pradesh, India |
|
Date of Birth/Age : |
21.03.1959 |
|
DIN No.: |
06481588 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Name of Shareholders |
No. of Shares |
%age |
|
Ashish Gajendrabhai Finava |
5,000 |
50.00 |
|
Gajendra Finava |
1,000 |
10.00 |
|
Dharam Patel |
4,000 |
40.00 |
|
Total |
10,000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Processing Activity of Fibre Products, Home Textiles
and Furnishing Products. |
|
|
|
|
Terms : |
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Selling : |
Credit (45 days) |
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|
|
|
Purchasing : |
Credit (90 days) |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Fibre Products, Home Textile and Furnishing Products. |
Nos. |
NA |
2000000 |
Proposed Project |
GENERAL INFORMATION
|
Customers : |
· Reliance Industries Limited · Pradip Overseas Limited · Tirupati Form |
|
|
|
|
No. of Employees : |
15 (Approximately) (Office – 5 and Factory – 10) |
|
|
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|
Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
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|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
NEW BUSINESS
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 |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
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 |
No |
------------------------------------------------------------------------------------------------------------------------------
ASSESSEMENT OF WORKING CAPITAL REQUIREMENTS
OPERATING STATEMENT
(RS. IN MILLIONS)
|
Particulars |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
|
|
|
|
|
|
|
|
|
1 Gross Sales |
|
|
|
|
|
|
|
(i) Domestic Sales |
115.500 |
161.700 |
169.785 |
178.274 |
187.188 |
196.547 |
|
(ii) Export Sales |
45.000 |
63.000 |
66.150 |
69.458 |
72.930 |
76.577 |
|
Total |
160.500 |
224.700 |
235.935 |
247.732 |
260.118 |
273.124 |
|
|
|
|
|
|
|
|
|
2 Less: Excise Duty |
10.500 |
14.700 |
15.435 |
16.207 |
17.017 |
17.868 |
|
|
|
|
|
|
|
|
|
3 Net Sales ( 1 - 2 ) |
150.000 |
210.000 |
220.500 |
231.525 |
243.101 |
255.256 |
|
|
|
|
|
|
|
|
|
4 % age Rise [+] or Fall [-] in Net Sales
as compared To Previous Year
(%) |
-- |
40 |
5 |
5 |
5 |
5 |
|
|
|
|
|
|
|
|
|
5 Cost of Sales |
|
|
|
|
|
|
|
(i) Raw Materials [ including stores and
other items used in the process of manufacture ] |
|
|
|
|
|
|
|
[a] Imported |
21.451 |
28.066 |
28.796 |
30.241 |
31.753 |
33.340 |
|
[b] Indigenous |
89.106 |
116.581 |
119.613 |
125.615 |
131.897 |
138.491 |
|
(ii) Other Spares |
|
|
|
|
|
|
|
[a] Imported |
|
|
|
|
|
|
|
[b] Indigenous |
1.636 |
2.155 |
2.215 |
2.325 |
2.442 |
2.564 |
|
(iii)
Power and Fuel |
4.308 |
5.170 |
6.462 |
7.324 |
7.324 |
7.324 |
|
(iv)
Direct Labour (Factory Wages& Salaries) |
0.818 |
1.077 |
1.107 |
1.163 |
1.221 |
1.282 |
|
(v) Other Manufacturing Exp. |
4.909 |
6.464 |
6.644 |
6.976 |
7.325 |
7.691 |
|
(vi)
Depreciation |
12.112 |
10.509 |
9.142 |
7.971 |
6.961 |
6.089 |
|
(vii) Sub-Total |
134.340 |
170.022 |
173.979 |
181.615 |
188.923 |
196.781 |
|
|
|
|
|
|
|
|
|
(viii) Add: Opening Stock in Process |
-- |
1.005 |
1.320 |
1.366 |
1.439 |
1.508 |
|
Sub-Total |
134.340 |
171.027 |
175.299 |
182.981 |
190.362 |
198.289 |
|
|
|
|
|
|
|
|
|
(ix)
Deduct: Closing stock in Process |
1.005 |
1.320 |
1.366 |
1.439 |
1.508 |
1.580 |
|
(x) Cost of Production |
133.335 |
169.707 |
173.933 |
181.542 |
188.854 |
196.709 |
|
|
|
|
|
|
|
|
|
(xi)
Add: Opening Stock of Finished
Goods |
-- |
10.102 |
14.108 |
14.908 |
15.707 |
16.467 |
|
Sub-Total |
133.335 |
179.809 |
188.041 |
196.450 |
204.561 |
213.176 |
|
|
|
|
|
|
|
|
|
(xii)
Deduct: Closing Stock Finished Goods |
10.102 |
14.108 |
14.908 |
15.707 |
16.467 |
17.257 |
|
(xiii) Sub-Total
(Total Cost of Sales) |
123.233 |
165.701 |
173.133 |
180.743 |
188.094 |
195.919 |
|
|
|
|
|
|
|
|
|
6
Selling, General and Administrative Expenses |
4.848 |
6.514 |
6.744 |
7.082 |
7.436 |
7.807 |
|
|
|
|
|
|
|
|
|
7 Sub Total ( 5 + 6 ) |
128.081 |
172.215 |
179.877 |
187.825 |
195.530 |
203.726 |
|
|
|
|
|
|
|
|
|
8 Operating
Profit Before Interest ( 3 - 7 ) |
21.919 |
37.785 |
40.623 |
43.700 |
47.571 |
51.530 |
|
|
|
|
|
|
|
|
|
9
Interest |
12.287 |
15.812 |
16.121 |
15.298 |
14.475 |
13.650 |
|
|
|
|
|
|
|
|
|
10 Operating Profit After Interest ( 8 -9
) |
9.632 |
21.973 |
24.502 |
28.402 |
33.096 |
37.880 |
|
|
|
|
|
|
|
|
|
11 (i)
Add : Other Non-Operating Income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Sub-Total (Income) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(ii)
Deduct: Other Non-Operating Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
P & P Expenses |
0.800 |
0.800 |
0.800 |
0.800 |
0.800 |
0.000 |
|
Sub-Total (
Expenses ) |
0.800 |
0.800 |
0.800 |
0.800 |
0.800 |
0.000 |
|
|
|
|
|
|
|
|
|
(iii) Net of Other Non-Operating Income/
Expenses |
-- |
-- |
-- |
-- |
--- |
-- |
|
|
|
|
|
|
|
|
|
[Net of 11(i) &
11(ii)] |
(0.800) |
(0.800) |
(0.800) |
(0.800) |
(0.800) |
0.000 |
|
|
|
|
|
|
|
|
|
12 Profit Before Tax / Loss[ 10 + 11(iii)
] |
8.832 |
21.173 |
23.702 |
27.602 |
32.296 |
37.880 |
|
|
|
|
|
|
|
|
|
13 Provision for Taxes |
2.649 |
6.396 |
7.174 |
8.354 |
9.769 |
11.360 |
|
|
|
|
|
|
|
|
|
14 Net Profit [ 12 - 13 ] |
6.183 |
14.777 |
16.528 |
19.248 |
22.527 |
26.520 |
|
|
|
|
|
|
|
|
|
15 (a) Equity Dividend Paid |
-- |
-- |
-- |
-- |
-- |
-- |
|
(b) Dividend Rate |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
16 Retained Profit |
6.183 |
14.777 |
16.528 |
19.248 |
22.527 |
26.520 |
|
|
|
|
|
|
|
|
|
17 Retained Profit/ Net Profit (%age) |
100 |
100 |
100 |
100 |
100 |
100 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Short Term Borrowings from Bank (including Bills Purchased and
Discounted and the Excess Borrowings placed on repayment basis) |
|
|
|
|
|
|
|
(i)
From Applicant Bank |
40.000 |
54.00 |
57.000 |
60.000 |
63.000 |
66.000 |
|
(ii) From Other Banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(iii) (Of Which BP and BD) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub-Total (A) |
40.000 |
54.00 |
57.000 |
60.000 |
63.000 |
66.000 |
|
|
|
|
|
|
|
|
|
2
Short Term Borrowing from Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
3
Sundry Creditors (Trade ) |
1.974 |
2.396 |
2.406 |
2.533 |
2.659 |
2.792 |
|
4
Advances Payments from Customers/ Deposits From Dealers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
5
Provision For Taxation |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
6
Dividend Payable |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
7
Other Statutory Liabilities (Due Within One Year ) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
8
Deposits / Instalments of Term Loan / DPG's / Debentures Etc. (Due Within
One Year) |
8.571 |
8.571 |
8.571 |
8.571 |
8.571 |
8.571 |
|
9
Other Current Liabilities and Provisions(Due Within One Year) (Specify
major items) |
-- |
-- |
-- |
-- |
-- |
-- |
|
Accrued Expenses |
0.620 |
0.801 |
0.873 |
0.939 |
0.971 |
1.004 |
|
|
|
|
|
|
|
|
|
Sub-Total (B) |
11.165 |
11.768 |
11.850 |
12.043 |
12.201 |
12.367 |
|
10 Total Current
Liabilities (Total of 1 To 9 ) |
51.165 |
65.768 |
68.850 |
72.043 |
75.201 |
78.367 |
|
|
|
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11 Debentures (Excluding not Maturing
within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
12 Preference Shares (excluding Redeemable within
one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
13 Term Loans (excluding Instalments
Payable within one year) |
48.572 |
40.001 |
31.43 |
22.859 |
14.288 |
5.717 |
|
|
|
|
|
|
|
|
|
14 Deferred Payment Credits (excluding Instalments Payable within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
15 Term Deposits (excluding Payable within
one year) |
14.000 |
14.000 |
14.000 |
14.000 |
14.000 |
14.000 |
|
|
|
|
|
|
|
|
|
16 Other Term Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
17 Total Term
Liabilities (Total of 11 to 16) |
62.572 |
54.001 |
45.430 |
36.859 |
28.288 |
19.717 |
|
|
|
|
|
|
|
|
|
18 Total Outside
Liabilities (10 + 17) |
113.737 |
119.769 |
114.280 |
108.902 |
103.489 |
98.084 |
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
19 Ordinary Share Capital |
20.000 |
20.000 |
20.000 |
20.000 |
20.000 |
20.000 |
|
20 General Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
21 Revaluation Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
22 Other Reserves (excl. Provisions) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Share Premium |
20.000 |
20.000 |
20.000 |
20.000 |
20.000 |
20.000 |
|
|
|
|
|
|
|
|
|
23 Surplus [+] Or Deficit [-] in Profit and
Loss Account |
6.183 |
20.960 |
37.488 |
56.736 |
79.263 |
105.783 |
|
|
|
|
|
|
|
|
|
24 NET WORTH |
46.183 |
60.960 |
77.488 |
96.736 |
119.263 |
145.783 |
|
|
|
|
|
|
|
|
|
25 TOTAL
LIABILITIES (18 + 24 ) |
159.920 |
180.729 |
191.768 |
205.638 |
222.752 |
243.867 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
26 Cash and Bank Balances |
9.064 |
5.966 |
6.596 |
7.370 |
7.749 |
8.242 |
|
|
|
|
|
|
|
|
|
27 Investments ( other than Long Term
Investments ) |
|
|
|
|
|
|
|
(i)
Government And Other Trustee
Securities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(ii) Fixed Deposits with Banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
28 (i)
Receivables Other Than Deferred And Exports (incl. Bills Purchased/
Discounted by Banks) |
26.469 |
37.056 |
38.909 |
40.854 |
42.897 |
45.042 |
|
|
|
|
|
|
|
|
|
(ii) Export Receivables (Including Bills Purchased/ Discounted by
Banks) |
11.250 |
15.750 |
16.538 |
17.365 |
18.233 |
19.144 |
|
|
|
|
|
|
|
|
|
29
Instalment Of Deferred Receivables (Due within 1 Year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
30 Inventory |
|
|
|
|
|
|
|
(i)
Raw Materials (including stores and other items used in the process of manufacture) |
|
|
|
|
|
|
|
(a) Imported |
1.788 |
2.339 |
2.400 |
2.520 |
2.646 |
2.778 |
|
(b) Indigenous |
8.938 |
11.694 |
11.998 |
12.600 |
13.230 |
13.892 |
|
|
|
|
|
|
|
|
|
(ii)
Stock In Process |
1.005 |
1.320 |
1.366 |
1.439 |
1.508 |
1.580 |
|
|
|
|
|
|
|
|
|
(iii) Finished Goods |
10.102 |
14.108 |
14.908 |
15.707 |
16.467 |
17.257 |
|
|
|
|
|
|
|
|
|
(iv)
Other Consumable Spares |
|
|
|
|
|
|
|
(a) Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b) Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
31
Advances to Suppliers of Raw Materials & Stores/ Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
32 Advance Payment of Taxes |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
33 Other Current Assets (Specify major items) |
|
|
|
|
|
|
|
Pre-Paid Expenses |
(0.001) |
0.000 |
(0.001) |
0.000 |
0.000 |
(0.001) |
|
|
|
|
|
|
|
|
|
34 Total Current
Assets (Total of 26 to 33) |
68.615 |
88.233 |
92.714 |
97.855 |
102.730 |
107.934 |
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35 Gross Block ( Land & Building
Machinery, Work in Progress) |
100.217 |
100.217 |
100.217 |
100.217 |
100.217 |
100.217 |
|
|
|
|
|
|
|
|
|
36 Depreciation to Date |
12.112 |
22.621 |
31.763 |
39.734 |
46.695 |
52.784 |
|
|
|
|
|
|
|
|
|
37 Net Block ( 35 -
36 ) |
88.105 |
77.596 |
68.454 |
60.483 |
53.522 |
47.433 |
|
|
|
|
|
|
|
|
|
OTHER NON-CURRENT
ASSETS |
|
|
|
|
|
|
|
38 Investments/ Book Debits/ Advances/
Deposits which are not Current Assets
|
|
|
|
|
|
|
|
(i)
(a) Investments in Subsidiary
Companies/ Affiliates |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b) Others |
|
|
|
|
|
|
|
(ii)
Advances to Suppliers of Capital Good and Contractors |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(iii)
Deferred Receivables (Maturity exceeding 1 year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
(iv)
Others |
|
|
|
|
|
|
|
Other Investments |
0.000 |
12.500 |
29.000 |
46.500 |
66.500 |
88.500 |
|
|
|
|
|
|
|
|
|
39 Non-Consumable Stores and Spares. |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
40 Other Non-Current Assets incl. Dues from
Directors |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
41 Total Other
Non-Current Assets (Total of 38 to 40) |
0.000 |
12.500 |
29.000 |
46.500 |
66.500 |
88.500 |
|
|
|
|
|
|
|
|
|
42 Intangible Assets (Patents, Goodwill, Preliminary
Expenses, Bad/ Doubtful Debts not provided for, Etc.) |
|
|
|
|
|
|
|
P and P Expenses |
3.200 |
2.400 |
1.600 |
0.800 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
43 Total
Assets (Total of 34, 37, 41
& 42) |
159.920 |
180.729 |
191.768 |
205.638 |
222.752 |
243.867 |
|
|
|
|
|
|
|
|
|
44 Tangible Net
Worth (24 - 42) |
42.983 |
58.560 |
75.888 |
95.936 |
119.263 |
145.783 |
|
|
|
|
|
|
|
|
|
45 Net Working
Capital To Tally With ( 34 - 10 ) |
17.450 |
22.465 |
23.864 |
25.812 |
27.529 |
29.567 |
|
|
|
|
|
|
|
|
|
46 Current
Ratio |
1.34 |
1.34 |
1.35 |
1.36 |
1.37 |
1.38 |
|
|
|
|
|
|
|
|
|
47 Total Outside
Liabilities/ Tangible Net Worth (18 /
44) |
2.65 |
2.05 |
1.51 |
1.14 |
0.87 |
0.67 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF CURRENT ASSETS AND
CURRENT LIABILITIES
(RS. IN MILLIONS)
|
Particulars |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
2019-20 |
|
|
|
|
|
|
|
|
|
A
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 Raw Materials (including
stores and other items used in the process of manufacture ) |
|
|
|
|
|
|
|
(b) Imported |
1.788 |
2.339 |
2.400 |
2.520 |
2.646 |
2.778 |
|
Months' Consumption |
1 |
1 |
1 |
1 |
1 |
1 |
|
(b) Indigenous |
8.938 |
11.694 |
11.998 |
12.600 |
13.2300 |
13.892 |
|
Months' Consumption |
1.2 |
1.2 |
1.2 |
1.2 |
1.2 |
1.2 |
|
|
|
|
|
|
|
|
|
2 Other Consumable Spares, excluding those included In 1 above |
|
|
|
|
|
|
|
(a) Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months' Consumption |
-- |
-- |
-- |
-- |
-- |
-- |
|
(b) Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months' Consumption |
-- |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
3
Stock in Process |
1.005 |
1.320 |
1.366 |
1.439 |
1.508 |
1.580 |
|
Months' Cost of Production |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
|
|
|
|
|
|
|
|
4
Finished Goods |
10.102 |
14.108 |
14.908 |
15.707 |
16.467 |
17.257 |
|
Months' Cost of Sales |
1 |
1 |
1 |
1 |
1 |
1 |
|
|
|
|
|
|
|
|
|
5 Receivables
other than Export and Deferred
Receivables (including Bills Purchased and Discounted by Bankers) |
26.469 |
37.056 |
38.909 |
40.854 |
42.897 |
45.042 |
|
Months' Domestic Sales excluding Deferred Sales |
2.75 |
2.75 |
2.75 |
2.75 |
2.75 |
2.75 |
|
|
|
|
|
|
|
|
|
6
Export Receivables (including
Bills Purchased& Discounted by Bankers) |
11.250 |
15.750 |
16.538 |
17.365 |
18.233 |
19.144 |
|
Months' Export Sales |
3 |
3 |
3 |
3 |
3 |
3 |
|
|
|
|
|
|
|
|
|
7
Advances to Suppliers of Raw Materials and Stores/Spares Consumables |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
8
Other Current Assets
including Cash and Bank
Balances and Deferred
Receivables Due within one year (Specify major items) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Cash and Bank Balances Investments (other
than Long Term Investments) |
9.064 |
5.966 |
6.596 |
7.370 |
7.749 |
8.242 |
|
(i) Government
and Other Trustee Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(ii) Fixed Deposits with Banks Instalment
Of Deferred Receivables (Due within
one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advance Payment of Taxes |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(Specify major items) |
|
|
|
|
|
|
|
Pre-Paid Expenses |
(0.001) |
0.000 |
(0.001) |
0.000 |
0.000 |
(0.001) |
|
|
|
|
|
|
|
|
|
9 Total Current Assets ( To agree with Item
34 In FORM III ) |
68.615 |
88.233 |
92.714 |
97.855 |
102.730 |
107.934 |
|
|
|
|
|
|
|
|
|
B
CURRENT LIABILITIES |
|
|
|
|
|
|
|
(other than Bank Borrowing for Working
Capital) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10 Creditors for Purchase of |
|
|
|
|
|
|
|
Raw Materials, Stores & Consumable
Spares |
1.974 |
2.396 |
2.406 |
2.533 |
2.659 |
2.792 |
|
Months' Purchases |
0.19 |
0.19 |
0.19 |
0.19 |
0.19 |
0.19 |
|
|
|
|
|
|
|
|
|
11 Advances from Customers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
12 Statutory Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
13 Other Current Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
( Specify major items ) |
|
|
|
|
|
|
|
Short Term Borrowings |
|
|
|
|
|
|
|
from others |
|
|
|
|
|
|
|
Provision for Taxation |
|
|
|
|
|
|
|
Dividend Payable |
|
|
|
|
|
|
|
Deposits / Instalments of |
|
|
|
|
|
|
|
Term Loan/ DPG's/ Debentures etc. (Due
within one year) |
8.571 |
8.571 |
8.571 |
8.571 |
8.571 |
8.571 |
|
|
|
|
|
|
|
|
|
Misc. Current Liabilities Accrued
Expenses |
0.620 |
0.801 |
0.873 |
0.939 |
0.971 |
1.004 |
|
|
|
|
|
|
|
|
|
Total (To agree
with |
|
|
|
|
|
|
|
Sub-Total B In Form
III ) |
11.165 |
11.768 |
11.850 |
12.043 |
12.201 |
12.367 |
------------------------------------------------------------------------------------------------------------------------------
NET
WORTH STATEMENT
MR. ASHISH GAJENDRA FINAVA
|
Particulars |
(Rs. In
Millions) |
|
Share in Properly of L.G Fibre-Partnership
Firm (12.5%) situated at Survey No. 241/1, Block No. 1125 and Survey No 1123,
Goblej. |
5.000 |
|
Investment
in Gold and Silver |
1.950 |
|
Cash
and Bank Balance |
0.220 |
|
|
|
|
Total |
7.170 |
------------------------------------------------------------------------------------------------------------------------------
NET
WORTH STATEMENT
MR. DHARAM KISHORBHAI PATEL
|
Particulars |
(Rs. In
Millions) |
|
Investment
in Shree Ganesh Enterprise |
1.260 |
|
Investment
in Gold and Silver |
2.125 |
|
Cash
and Bank Balance |
0.175 |
|
|
|
|
Total |
3.560 |
------------------------------------------------------------------------------------------------------------------------------
NET
WORTH STATEMENT
MR. GAJENDRA UKABHAI FINAVA
|
Particulars |
(Rs. In
Millions) |
|
|
|
|
Invetsment in L.G. Fibre |
1.672 |
|
Investment
in Gold and Silver |
2.150 |
|
Cash
and Bank Balance |
0.250 |
|
|
|
|
Total |
4.072 |
------------------------------------------------------------------------------------------------------------------------------
REPORT OF VALUATION OF IMMOVABLE PROPERTY
GENERAL
INFORMATION
(PART – I)
|
Purpose for which valuation is made |
To ascertain fair market value of property
for Bank Loan from Bank of India |
|
|
|
|
Date on which valuation is made |
As on 30.11.2013 |
|
|
|
|
Name of owner/ owner name of buyer |
M/s L. G. Fiber Private Limited |
|
|
|
|
If the property is under joint ownership
co-ownership, share of such owner are the shares undivided? |
NA |
|
|
|
|
Brief description of the property |
It is an open NA Plot of land. It is, under
active earth filling work in progress at Village Bhirkhi, on a road between
Bagodra – Tarapur Highway and Bhrkhi Village |
|
|
|
|
Location, Street, Ward No. etc. |
Survey No.323 Paikee, Khata No.122, Bhurkhi
Village Road, Taluka Dholka, District Ahmedabad Location If they take Ahmedabad as base, then,
proceed on NH toward Bagodra, cross of road to Ganeshpura – Dholka. There is
one more State Highway of road to NH Known Bagodra – Tarapur Road. Proceed
approx. 5 kms towards Tarapur. Fly
over is under construction, take RHS from the end of fly over toward
Bhurkhi Village, Proceed approx. 1.5 km, the said land is n RHS of road. This
road is connecting Bagodra-Dhandhuka Highway at approx. 15 kms via Bhurkhi
Village. |
|
|
|
|
Survey / Plot No. of Land |
Bhurkhi/ Dholka/1348/ Dated 25.07.2013 |
|
|
|
|
Is the property situated in Residential/
commercial/ mixed area/ industrial area |
Rural Area |
|
|
|
|
Classificatopn of locality – High Class/
Rural Class/ Middle Class/ etc. |
Industrial Rural Area |
|
|
|
|
Proximity to civic amenities like schools,
offices, market, cinemas etc. |
Available at N. H. 08, State highway and
Village Road |
|
|
|
|
Means and proximity to surface by which the
locality us served. |
Served by ST Bus Services, Scooters, Auto
Rickshaws etc. |
|
|
|
|
LAND |
|
|
Area of land supported by documentary proof
shape dimensions and Physical features. |
23270 Smt. |
|
|
|
|
Roads street or lanes on which the land is
abutting |
Mouje Bhurkhi Taluka – Dholka, District
Ahmedabad |
|
|
|
|
Is it freehold or leasehold land? |
Freehold land |
|
|
|
|
SALES |
|
|
Give instances of sales of immovable property
in the locality on a separate sheet, indicating the name and address of the
property registration No. sale price and area of land sold. |
Sale instances of land during are not
available. Land rate derived from local inquiries. |
|
|
|
|
Land rate adopted in this valuation or built
up area rate |
Land rate adopted Rs.3700 per sq. Meter |
|
|
|
|
If sale instances are not available or not
relied upon the basis of arriving at the land rate |
Prevailing market rate in vicinity. |
|
|
|
|
PART II –
VALUATION This property under construction is an open
plot of land consists of two block no in similar survey no. of village
Bhirkhi Taluka Dholka, District Ahmedabad. It is owned M/s L. G. Fiber
Private Limited The property is evaluated for the purpose of
to ascertain fair market value of property for Bank loan from Bank of India,
Ahmedabad. The property is situated at Village Bhurkhi. The details of location and land mark is
given earlier in this report Land is available of this type of
development of plot with N.A. Status at Rs.3000-4000 per SMT Hence, they adopt Rs.3700 per SMT as base to
evaluate its valuation Hence, Land value Rs.3700 per SMT x 23270
SMT = Rs.86.099 Millions The property is bounded with following
Boundaries North: Survey No.294 Open Land South: Main Road – Entry of Plot Survey No.423 East: Semi Pacca Side Road – Survey No.323-420 West: Survey No.425 |
|
|
Abstract of the entire Property |
|
|
Land – A W/o Earth Filling |
Rs.86.100 Millions |
|
Building – B |
NA |
|
Extra Items – C |
NA |
|
Services – D Furni. |
NA |
|
Total |
Rs.86.100 Millions |
|
|
|
|
Market Value |
Rs.86.100 Millions |
|
Realization Value |
Rs.77.500 Millions |
|
Distress sale of the property |
Rs.64.500 Millions (25% less) |
|
Jantri Value |
Rs.37.232 Millions (Land Rate @ 1,600/- per
sq. mts) |
------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCE
· Reliance Industries Limited
· Pradip Overseas Limited
· Tirupati Form
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
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.61.94 |
|
|
1 |
Rs.103.35 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
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.