MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

SHREE AMEE EXPORTS PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

Not Divulged

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Bright Bars and Stainless Steels.

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Divulged

 

 

Bankers :

·         Dena Bank, Sandhurst Bridge Branch, Mumbai – 400004, Maharashtra, India

·         Kotak Mahindra Bank

·         Citibank

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

Term Loans

 

 

Barclays Investment

(secured by director's personal guarantee)

0.000

1.880

Bajaj Auto Finance Limited

(secured by director's personal guarantee)

0.000

0.726

Kotak Mahindra Bank

(vehicle and personal loans)

(secured by hypothecation of asset along with director's personal guarantee and ECS repayments)

1.244

1.449

Magma Fincorp Limited

(secured by director's personal guarantee)

0.141

0.515

Religare Finvest Limited

(secured by director's personal guarantee)

0.000

0.605

Citibank (against director's residential flat)

(secured by hypothecation and director's personal guarantee and ECS repayments)

10.110

0.000

Sundaram Finance Limited

(also secured by lien on tempo)

0.000

0.085

 

 

 

Short Term Borrowings

 

 

Overdraft / cash credit from Dena Bank

(secured against inventories, book debts, lien on fixed deposits in addition to personal guarantee of the directors)

33.804

30.710

 

 

 

TOTAL

45.299

35.970

 

 

UNSECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

From Related Parties

(Loans from directors and relatives)

1.556

12.206

 

 

 

TOTAL

1.556

12.206

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Manoj Mehta and Company

Chartered Accountants

Address :

2nd Floor, 591-A, JSS Road, Princess Street, Mumbai-400002, Maharashtra, India

Tel. No.:

91-22-22005454

E-Mail :

mail@manojmehta.com

PAN No:

ACAPM7184R

 

 

MAJOR SHAREHOLDERS

 

AS ON 16.09.2013

 

Names of Shareholders

 

 

No. of Shares

Padmavati Ranchhodlal Shah Jointly With Kavita Ranchhodlal Shah

 

167000

Dinaben Ranchhodlal Shah Jointly With Kavita Ranchhodlal Shah

 

160000

Udaykumar Ranchhodlal Shah Jointly With Deepali Uday Shah

 

129900

Vrijlal Ranchhodlal Shah HUF

 

80000

Kavita Ranchhodlal Shah Jointly With Dinaben Ranchhodlal Shah

 

80000

Deepali Uday Shah Jointly With Udaykumar Ranchhodlal Shah

 

70000

Padmavati Ranchhodlal Shah Jointly With Udaykumar Ranchhodlal Shah, Dinaben Ranchhodlal Shah, Kavita Ranchhodlal Shah

 

60000

Deepali Uday Shah Jointly With Maitri Uday Shah

 

3000

Udaykumar Ranchhodlal Shah

 

100

 

 

 

TOTAL

 

750000

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1) Shareholders' Funds

 

 

 

(a) Share Capital

7.500

5.000

5.000

(b) Reserves & Surplus

10.295

9.487

8.529

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

17.795

14.487

13.529

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

13.051

17.466

15.820

(b) Deferred tax liabilities (Net)

1.506

1.407

1.245

(c) Other long term liabilities

0.000

0.000

0.000

(d) Long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

14.557

18.873

17.065

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

33.804

30.710

29.730

(b) Trade payables

43.307

26.446

15.387

(c) Other current liabilities

0.013

0.018

0.059

(d) Short-term provisions

0.421

0.351

0.544

Total Current Liabilities (4)

77.545

57.525

45.720

 

 

 

 

TOTAL

109.897

90.885

76.314

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

12.174

12.376

9.150

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

12.174

12.376

9.150

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

49.476

49.625

27.127

(c) Trade receivables

42.655

22.206

34.423

(d) Cash and cash equivalents

2.955

3.969

2.403

(e) Short-term loans and advances

0.882

1.076

2.073

(f) Other current assets

1.755

1.633

1.138

Total Current Assets

97.723

78.509

67.164

 

 

 

 

TOTAL

109.897

90.885

76.314

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

183.797

200.712

 

 

Other Income

 

1.363

1.250

 

 

TOTAL                                     (A)

234.657

185.160

201.962

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Material Consumed

185.441

180.234

 

 

Employee Benefits Expenses

232.569

3.650

2.859

 

 

Other Expenses

 

10.049

9.864

 

 

Changes in Inventories

 

(22.497)

(0.834)

 

 

TOTAL                                     (B)

232.569

176.643

192.123

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

Including Financial Expenses

8.517

9.839

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

 

6.323

7.537

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

2.088

2.194

2.302

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.909

0.805

0.695

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                 (G)

1.180

1.389

1.607

 

 

 

 

 

Less

TAX                                                                  (H)

0.371

0.432

0.515

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

0.809

0.957

1.092

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

9.486

8.529

7.437

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

10.295

9.486

8.529

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.07

1.91

2.18

 

 

REVIEW OF OPERATIONS:

 

The Company has achieved an improvement in its performance during the year and anticipates further acceleration in the performance in terms of sales and profits. The overall economic situation seems to be improving though at a very slow pace and the company is working out the future strategy accordingly.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

RBI DEFAILTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

LOCATIONS

 

Registered Office :

Textelo House, 52-A Islampura Street, Nanabhai Desai Road, Mumbai-400004, Maharashtra, India

Tel. No.:

91-22-23875230/ 32/ 35

Fax No.:

91-22-23808749

E-Mail :

uday@bom7.vsnl.net.in

textelogroup@gmail.com

 

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