MIRA
INFORM REPORT
|
Report Date : |
30.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRIDE GOLD |
|
|
|
|
Registered
Office : |
49,
Dagina Bazar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 (Provisional) |
|
|
|
|
Year of
Establishment : |
2010 |
|
|
|
|
Capital
Investment : |
Rs. 2.514 Millions |
|
|
|
|
IEC No.: |
0312016352 |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Gold, Silver Ornaments and Signature
Jewellery. |
|
|
|
|
No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 |
|
|
|
|
Comments : |
Subject is an established proprietary concern having a moderate track
record. Profitability of the concern seems to be low during 2014. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The concern can be considered for business dealings 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Ms. Sonika |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-33524749 |
|
Date : |
26.07.2014 |
LOCATIONS
|
Registered Office : |
49,
Dagina Bazar, Mumbadevi Road, Tamba Kanta, Kalbadevi, Mumbai - 400002, Maharashtra,
India |
|
Tel. No.: |
91-22-33524749 |
|
Fax No.: |
Not Available |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Dharmendra Ratanraj Mehta |
|
Designation : |
Proprietor |
|
Address : |
F-3, Triveni Apartment, 66, Walkeshwar Road, Walkeshwar, Mumbai –
400006, Maharashtra, India |
|
Date of Birth/Age : |
27.04.1971 |
|
Qualification : |
Graduate, C.A. |
|
Experience : |
More than 5 Years |
|
PAN No.: |
AGSPM9695B |
|
Passport No.: |
J9254090 |
KEY EXECUTIVES
|
Name : |
Ms. Sonika |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Gold, Silver Ornaments and Signature
Jewellery. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit 90 Days |
|
|
|
|
Purchasing : |
Credit 30 Days and Others |
GENERAL INFORMATION
|
Suppliers : |
v Moks Jewellery v Sanghavi Dhanrupji Devaji and Company v S.S. Gems Jewellery v Swarna Ganga Jewellers v Bhajanlal Sureshchandra Saraff |
|
|
|
|
Customers : |
Wholesalers v
Kashish Metal Limited v
R.C. Bullion v
Chenaji Narsingji and Company v
Riddhi Siddhi Bullions Private Limited v Penta
Gold Private Limited |
|
|
|
|
No. of Employees : |
4 (Approximately) |
|
|
|
|
Bankers : |
v Axis Bank Limited Zaveri Bazar, Menon Street, Mumbai, Maharashtra, India v IndusInd Bank Kalbadevi Road, Mumbai, Maharashtra, India v ICICI Bank Limited Zaveri Bazar, Menon Street, Mumbai, Maharashtra, India v
Kotak Mahindra Bank Limited Crawford Market, Mumbai, Maharashtra, India v
Bank of Baroda
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D.R. Mehta and Company Chartered Accountants |
|
Address : |
3rd Floor, 45/49, Babu Genu Road, Kalbadevi, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-22051620/ 64570080 |
|
Mobile No.: |
91-9164570080 |
|
E-Mail : |
CAPITAL STRUCTURE
CAPITAL
ACCOUNT AS ON 31.03.2014
|
Particulars |
Amount in
Millions |
|
Capital Account |
3.018 |
|
Income Tax |
(0.252) |
|
LIC Premium |
(0.064) |
|
Maintenance Charges |
(0.032) |
|
Mediclaim |
(0.014) |
|
Saving Bank Interest |
0.001 |
|
School Fee |
(0.056) |
|
Withdrawals |
(0.087) |
|
|
|
|
Total |
2.514 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 [Provisional] |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
2.514 |
3.018 |
2.116 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.050 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.564 |
3.018 |
2.116 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.728 |
0.343 |
0.417 |
|
|
2] Unsecured Loans |
7.667 |
4.002 |
6.656 |
|
|
TOTAL BORROWING |
8.395 |
4.345 |
7.073 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
15.959 |
7.363 |
9.189 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.532 |
8.135 |
8.255 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.070 |
0.020 |
0.020 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.189
|
8.775 |
5.203 |
|
|
Sundry Debtors |
8.015
|
6.207 |
9.552 |
|
|
Cash & Bank Balances |
8.415
|
1.649 |
0.238 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.142
|
0.362 |
0.338 |
|
Total
Current Assets |
24.761
|
16.993 |
15.331 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16.674
|
17.134 |
13.817 |
|
|
Other Current Liabilities |
0.729
|
0.059 |
0.453 |
|
|
Provisions |
1.001
|
0.592 |
0.147 |
|
Total
Current Liabilities |
18.404
|
17.785 |
14.417 |
|
|
Net Current Assets |
6.357
|
(0.792) |
0.914 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
15.959 |
7.363 |
9.189 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 [Provisional] |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
775.175 |
295.677 |
81.790 |
|
|
|
Other Income |
0.184 |
0.000 |
0.006 |
|
|
|
TOTAL |
775.359 |
295.677 |
81.796 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
766.513 |
290.393 |
78.244 |
|
|
|
Direct Expenses |
1.563 |
1.524 |
0.033 |
|
|
|
Audit Fee |
0.034 |
0.034 |
0.028 |
|
|
|
Bank Charges |
0.120 |
0.024 |
0.004 |
|
|
|
Conveyance |
0.038 |
0.082 |
0.097 |
|
|
|
Electricity Charges |
0.273 |
0.209 |
0.140 |
|
|
|
Interest on Car Loan |
0.060 |
0.051 |
0.040 |
|
|
|
Interest on Loan |
0.334 |
0.334 |
0.000 |
|
|
|
Interest charges |
0.015 |
0.016 |
0.000 |
|
|
|
Membership fee |
0.019 |
0.164 |
0.000 |
|
|
|
Processing fees |
0.011 |
0.000 |
0.038 |
|
|
|
Professional fees |
0.017 |
0.018 |
0.035 |
|
|
|
Salary |
0.846 |
0.846 |
0.660 |
|
|
|
Shop Expenses |
0.073 |
0.184 |
0.157 |
|
|
|
Society charges |
0.033 |
0.005 |
0.000 |
|
|
|
Staff welfare |
0.017 |
0.032 |
0.023 |
|
|
|
Telephone charges |
0.021 |
0.017 |
0.045 |
|
|
|
Travelling expense |
0.027 |
0.054 |
0.040 |
|
|
|
Vehicle expenses |
0.022 |
0.062 |
0.095 |
|
|
|
Other Expenses |
0.022 |
0.044 |
0.930 |
|
|
|
TOTAL |
770.058 |
294.093 |
80.609 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE DEPRECIATION AND AMORTISATION |
5.301 |
1.584 |
1.187 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.251 |
0.141 |
0.166 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
5.050 |
1.443 |
1.021 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 [Provisional] |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.65
|
0.49 |
1.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.65
|
0.49 |
1.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.73
|
5.74 |
4.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.67
|
0.48 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.11
|
1.44 |
3.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
0.96 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Proprietor’s Capital |
2.116 |
3.018 |
2.514 |
|
Reserves & Surplus |
0.000 |
0.000 |
5.050 |
|
Net
worth |
2.116 |
3.018 |
7.564 |
|
|
|
|
|
|
Secured Loans |
0.417 |
0.343 |
0.728 |
|
Unsecured Loans |
6.656 |
4.002 |
7.667 |
|
Total
borrowings |
7.073 |
4.345 |
8.395 |
|
Debt/Equity ratio |
3.343 |
1.440 |
1.110 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
81.790 |
295.677 |
775.175 |
|
|
|
261.508 |
162.170 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
81.790 |
295.677 |
775.175 |
|
Profit |
1.021 |
1.443 |
5.050 |
|
|
1.25% |
0.49% |
0.65% |
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) |
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 |
No |
|
29] |
Last accounts filed at
ROC |
Yes |
|
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has stopped
completely.” Demand has started coming from the US, the UK, Japan and China.
India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
------------------------------------------------------------------------------------------------------------------------------
ASSESMENT OF WORKING
CAPITAL REQUIREMENTS
OPERATING STATEMENT
(RS. IN MILLIONS)
|
Sr. No |
|
Particulars |
Provisional 2014 |
Estimate 2015 |
Projection 2016 |
Projection 2017 |
|
|
|
|
|
|
|
|
|
1 |
|
GROSS SALES |
|
|
|
|
|
|
i) |
Sales |
|
|
|
|
|
|
|
a) Domestic Sales |
775.175 |
852.692 |
937.962 |
1031.758 |
|
|
|
b) Sub-total [a] |
775.175 |
852.692 |
937.962 |
1031.758 |
|
|
|
c) %age rise (+) or fall (-) in net sales as compared to previous year |
162.17% |
10.00% |
10.00% |
10.00% |
|
|
|
Total |
775.175 |
852.692 |
937.962 |
1031.758 |
|
|
|
|
|
|
|
|
|
|
ii) |
Other income |
|
|
|
|
|
|
|
a)Duty drawback |
-- |
-- |
-- |
-- |
|
|
|
b)Cash assistance |
-- |
-- |
-- |
-- |
|
|
|
c)Commission/Brokerage/interest |
-- |
-- |
-- |
-- |
|
|
|
d) Sub-total
[a+b+c] |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
Total [i] + [ii] |
775.175 |
852.692 |
937.962 |
1031.758 |
|
|
|
|
|
|
|
|
|
2 |
|
COST OF SALES |
|
|
|
|
|
|
i) |
Purchases |
765.927 |
855.520 |
925.072 |
1016.579 |
|
|
|
Imported |
-- |
-- |
-- |
-- |
|
|
|
Domestic |
765.927 |
855.520 |
925.072 |
1016.579 |
|
|
ii) |
Other expenses |
1.563 |
1.719 |
1.891 |
2.080 |
|
|
iii) |
Sub-total [i +
ii] |
767.490 |
857.239 |
926.963 |
1018.660 |
|
|
iv) |
Add: Opening stock |
8.775 |
8.189 |
23.710 |
26.046 |
|
|
v)
|
Sub-total [iii +
iv] |
776.265 |
865.429 |
950.674 |
1044.705 |
|
|
vi) |
Less: Closing Stock |
8.189 |
23.710 |
26.046 |
28.622 |
|
|
vii) |
Sub-total [Total cost of sales] [v - vi] |
768.076 |
841.718 |
924.628 |
1016.083 |
|
|
|
|
|
|
|
|
|
3 |
|
Selling, General & Administrative Expenses (including bonus
payments) |
1.648 |
1.812 |
2.914 |
4.125 |
|
|
|
|
|
|
|
|
|
4 |
|
Operating Profit before interest & Depreciation [1(iii)-2(vii)-3] |
5.451 |
9.162 |
10.420 |
11.549 |
|
|
|
|
|
|
|
|
|
5 |
|
INTEREST Exps.- Interest |
|
2.917 |
3.500 |
3.500 |
|
|
|
-Other
Loans |
0.334 |
0.350 |
0.365 |
0.380 |
|
|
|
|
|
|
|
|
|
6 |
|
DEPRECIATION |
0.251 |
0.213 |
0.181 |
0.154 |
|
|
|
|
|
|
|
|
|
7 |
|
Operating profit after interest and depreciation [4-5-6] |
4.867 |
5.682 |
6.374 |
7.515 |
|
|
|
|
|
|
|
|
|
8 |
|
(i) Add other
non-operating income |
|
|
|
|
|
|
|
(a) Labour Charges received |
0.184 |
-- |
-- |
-- |
|
|
|
(b) Misc. income |
-- |
-- |
-- |
-- |
|
|
|
Subtotal
(income) |
0.184 |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
(ii) Deduct
other non-operating expense |
|
|
|
|
|
|
|
(a) Directors Remuneration |
-- |
-- |
-- |
-- |
|
|
|
(b) Interest on Partners' capital |
-- |
-- |
-- |
-- |
|
|
|
Subtotal
(expenses) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
|
(iii) Net of other non-operating incomes/ expenses (net of 8(i) &
8(ii)) |
0.184 |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
9 |
|
Profit before tax/loss (7+8(iii)) |
5.050 |
5.682 |
6.374 |
7.515 |
|
|
|
|
|
|
|
|
|
10 |
|
Provision for tax |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
11 |
|
Net profit / (loss)[9-10] |
5.050 |
5.682 |
6.374 |
7.515 |
|
|
|
|
|
|
|
|
|
12 |
|
(i) Equity dividend paid/ Drawings |
-- |
-- |
-- |
-- |
|
|
|
(ii) Dividend Rate |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
13 |
|
Retained Profit[11-12] |
5.050 |
5.682 |
6.374 |
7.515 |
|
|
|
|
|
|
|
|
|
14 |
|
Retained profit / Net Profit (%age) |
100% |
100% |
100% |
100% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
Sr. No |
Particulars |
Provisional 2014 |
Estimate 2015 |
Projection 2016 |
Projection 2017 |
|
|
CURRENT LIABILITIES |
|
|
|
|
|
1 |
Short
term borrowings from bank (incl. Bills purchased, discounted & excess
borrowings placed on repayment basis) |
|
|
|
|
|
|
(i) From applicant bank |
-- |
25.000 |
25.000 |
25.000 |
|
|
(ii)
From other banks |
-- |
-- |
-- |
-- |
|
|
(iii)
of which EP & BD |
-- |
-- |
-- |
-- |
|
|
Sub Total (A) |
-- |
25.000 |
25.000 |
25.000 |
|
|
|
|
|
|
|
|
2 |
Short
term borrowings from others |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
3 |
Sundry
Creditors - Trade |
15.673 |
16.407 |
17.741 |
19.496 |
|
|
|
|
|
|
|
|
4 |
Advance
payments from customers/deposits from dealers |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
5 |
Provision
for Taxation |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
6 |
Dividend
Payable |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
7 |
Other
statutory liabilities (due within one year) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
8 |
Deposits/Instalments
of term loan/ DPGs/ Debentures etc. (due within one year) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
9 |
Other
current liabilities & Provisions (due
within one year) |
2.731 |
3.000 |
3.500 |
4.000 |
|
|
|
|
|
|
|
|
|
Sub Total (B) |
18.404 |
19.407 |
21.241 |
23.496 |
|
|
|
|
|
|
|
|
10 |
Total Current Liabilities [total of 1 to 9] |
18.404 |
44.407 |
46.241 |
48.496 |
|
|
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
11 |
Debentures
(not maturing within one year) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
12 |
Preference
Shares (redeemable after one year) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
13 |
Term
loans (excluding instalments payable within one year) |
0.728 |
0.619 |
0.526 |
0.447 |
|
|
|
|
|
|
|
|
14 |
Differed
Payment Credits (excl. instalments due within one year) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
15 |
Term
deposits (repayable after one year) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
16 |
Other
term liabilities |
|
|
|
|
|
|
(a)
Unsecured loans |
7.667 |
7.667 |
7.667 |
7.667 |
|
|
|
|
|
|
|
|
17 |
Total term liabilities (Total of 11 to 16) |
8.395 |
8.286 |
8.193 |
8.114 |
|
|
|
|
|
|
|
|
18 |
Total Outside Liabilities [10+17] |
26.799 |
52.693 |
54.434 |
56.610 |
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
|
|
|
|
|
19 |
Capital |
3.018 |
13.265 |
17.191 |
21.595 |
|
|
|
|
|
|
|
|
20 |
General
Reserve |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
21 |
Capital
Addition |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
22 |
Withdrawals
|
0.504 |
1.756 |
1.970 |
2.322 |
|
|
|
|
|
|
|
|
23 |
Surplus
(+) or deficit (-) in Profit & Loss Account |
5.050 |
5.682 |
6.374 |
7.515 |
|
|
|
|
|
|
|
|
24 |
Net
worth |
7.565 |
17.191 |
21.595 |
26.789 |
|
|
|
|
|
|
|
|
25 |
TOTAL
LIABILITIES [18+24] |
34.363 |
69.884 |
76.029 |
83.398 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
26 |
Cash
& Bank balances |
8.415 |
8.600 |
9.783 |
11.641 |
|
|
|
|
|
|
|
|
|
Fixed
Deposits |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
28 |
Receivables(Domestic) |
8.015 |
28.034 |
30.837 |
33.921 |
|
|
|
|
|
|
|
|
30 |
Inventories |
|
|
|
|
|
|
(i)
Raw materials (including stores and other items in process of manufacture) |
|
|
|
|
|
|
(a)
Imported |
-- |
-- |
-- |
-- |
|
|
(b)
Indigenous |
-- |
-- |
-- |
-- |
|
|
(ii)
Stock-in-process |
-- |
-- |
-- |
-- |
|
|
(iii)
Other consumable stores |
|
|
|
|
|
|
(a)
Imported |
-- |
-- |
-- |
-- |
|
|
(b)
Indigenous |
-- |
-- |
-- |
-- |
|
|
(iv)
Finished Goods |
8.189 |
23.710 |
26.046 |
28.622 |
|
|
|
|
|
|
|
|
31 |
Advance
to suppliers of Raw materials & stores/spares |
|
|
|
|
|
|
|
|
|
|
|
|
32 |
Advance
payment of taxes |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
33 |
Other
current assets |
0.142 |
0.150 |
0.155 |
0.160 |
|
|
|
|
|
|
|
|
34 |
Total Current asset [Total 26 to 33] |
24.761 |
60.494 |
66.821 |
74.344 |
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
35 |
Gross
Block (land & building machinery vehicles work-in-progress) |
9.783 |
9.532 |
9.319 |
9.138 |
|
|
|
|
|
|
|
|
36 |
Depreciation
to date |
0.251 |
0.213 |
0.181 |
0.154 |
|
|
|
|
|
|
|
|
37 |
NET BLOCK (35-36) |
9.532 |
9.319 |
9.138 |
8.984 |
|
|
|
|
|
|
|
|
38 |
Investments/book
debts /advances deposits which are not current assets |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
i.(a)Investments
in subsidiary companies/ affiliates |
-- |
-- |
-- |
-- |
|
|
(b)Others |
0.070 |
0.070 |
0.070 |
0.070 |
|
|
|
|
|
|
|
|
|
ii.
Advances to suppliers of capital goods & contractors |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
iii.
Deferred receivables (maturity exceeding one year) |
- |
- |
- |
-- |
|
|
|
|
|
|
|
|
|
iv.
Others |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
39 |
Non
consumables stores & spare |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
40 |
Other
non-current assets (incl. Dues from director) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
41 |
Total other non-current assets (Total of 38
to 40) |
0.070 |
0.070 |
0.070 |
0.070 |
|
|
|
|
|
|
|
|
42 |
Intangible
assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided
for etc.) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
43 |
TOTAL
ASSETS (Total of 34,37,41 & 42) |
34.363 |
69.883 |
76.029 |
83.398 |
|
|
|
|
|
|
|
|
44 |
Tangible net worth (24-42) |
7.565 |
17.191 |
21.595 |
26.789 |
|
|
|
|
|
|
|
|
45 |
Net working Capital [(17+24)-(37+41+42)]
Totally with (34-10) |
6.357 |
16.087 |
20.580 |
25.848 |
|
|
|
|
|
|
|
|
46 |
Current
Ratio [34/10] |
1.35 |
1.36 |
1.45 |
1.53 |
|
|
|
|
|
|
|
|
47 |
Total
outside liabilities / Net worth
(18/44) |
3.54 |
3.07 |
2.52 |
2.11 |
|
|
Quasi
|
1.27 |
1.81 |
1.60 |
1.42 |
|
|
|
|
|
|
|
|
|
ADDITIONAL INFORMATION |
|
|
|
|
|
|
A.
Arrears of depreciation |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
B.
Contingent Liabilities: |
-- |
-- |
-- |
-- |
|
|
(a)Arrears
of cumulative dividends |
-- |
-- |
-- |
-- |
|
|
(b)Gratuity
liability not provided for |
-- |
-- |
-- |
-- |
|
|
(c)Disputed
excise/ customs/tax liabilities |
-- |
-- |
-- |
-- |
|
|
(d)Other
liabilities not provided for |
-- |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
FUND
FLOW STATEMENT
(RS. IN MILLIONS)
|
Sr. No. |
PARTICULARS |
Provisional 2014 |
Estimate 2015 |
Projection 2016 |
Projection 2017 |
|
|
|
|
|
|
|
|
1 |
Sources |
|
|
|
|
|
|
[a] Net profit (after tax) |
5.050 |
5.682 |
6.374 |
7.515 |
|
|
[b] Depreciation |
0.251 |
0.213 |
0.181 |
0.154 |
|
|
Partners' Salary & interest |
-- |
-- |
-- |
-- |
|
|
[c] Increase in Capital |
-- |
5.700 |
-- |
-- |
|
|
[d] Increased in Term Liab. (including
Public deposits) |
0.385 |
(0.109) |
(0.093) |
(0.079) |
|
|
[e] Decrease in |
|
|
|
|
|
|
[i] Fixed Assets |
-- |
-- |
-- |
-- |
|
|
[ii]
Other non-current Assets |
-- |
-- |
-- |
-- |
|
|
[f] Others (Unsecured Loans) |
3.664 |
-- |
-- |
-- |
|
|
[g] Total |
9.350 |
11.486 |
6.462 |
7.590 |
|
|
|
|
|
|
|
|
2 |
Application |
|
|
|
|
|
|
[a] Net Loss |
-- |
-- |
-- |
-- |
|
|
[b] Decrease in Term Liab. (Incl. Public
deposits) |
-- |
-- |
-- |
-- |
|
|
[c] Increase in |
|
|
|
|
|
|
[i] Fixed Assets |
1.647 |
-- |
-- |
-- |
|
|
[ii] Other non-current Assets |
0.050 |
-- |
-- |
-- |
|
|
[d] Withdrawals |
0.504 |
1.756 |
1.970 |
2.322 |
|
|
[e] Others (Unsecured loans) |
|
|
|
|
|
|
[f] Total |
2.201 |
1.756 |
1.970 |
2.322 |
|
|
|
|
|
|
|
|
3 |
Long Term Surplus (+)
/ Deficit (-)
(1 minus 2) |
7.149 |
9.730 |
4.493 |
5.268 |
|
|
|
|
|
|
|
|
4 |
+ /
(-) in current assets |
7.768 |
35.733 |
6.327 |
7.523 |
|
|
|
|
|
|
|
|
5 |
+ /
(-) in current Liabilities other than bank borrowings |
0.619 |
1.003 |
1.834 |
2.255 |
|
|
|
|
|
|
|
|
6 |
+ /
(-) in working capital Gap |
7.149 |
34.730 |
4.493 |
5.268 |
|
|
|
|
|
|
|
|
7 |
Net Surplus (+) / deficit (-)
(Difference of 3 & 6) |
-- |
(25.000) |
-- |
-- |
|
|
|
|
|
|
|
|
8 |
+ /
(-) in Bank Borrowings |
-- |
25.000 |
-- |
-- |
|
|
|
|
|
|
|
|
|
* Break up of (4) |
|
|
|
|
|
|
[i]
+ / (-) in Raw material |
-- |
-- |
-- |
-- |
|
|
[ii]
+ / (-) in Stock in process |
-- |
-- |
-- |
-- |
|
|
[iii]
+ / (-) in finished goods |
(0.586) |
15.521 |
2.335 |
2.576 |
|
|
[iv]
+ / (-) in Receivables |
|
|
|
|
|
|
[a] Domestic |
1.808 |
20.019 |
2.803 |
3.084 |
|
|
[b] Export |
-- |
-- |
-- |
-- |
|
|
[iii]
+ / (-) in stores & spares |
|
|
|
|
|
|
[iii]
+ / (-) in other Current Assets |
6.546 |
0.193 |
1.188 |
1.863 |
|
|
|
|
|
|
|
|
|
Total |
7.768 |
35.733 |
6.327 |
7.523 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES
(RS. IN MILLIONS)
|
Sr. No. |
Particulars |
Provisional 2014 |
Estimate 2015 |
Projection 2016 |
Projection 2017 |
|
|
|
|
|
|
|
|
|
A. CURRENT ASSETS: |
|
|
|
|
|
1 |
Cash & Bank Balances |
8.415 |
8.600 |
9.783 |
11.641 |
|
|
Fix Deposit |
-- |
-- |
-- |
-- |
|
2 |
Investments
(other than long term investments) |
|
|
|
|
|
|
(i)
Government & other Trustee securities |
|
|
|
|
|
|
(ii)
Fixed deposits with banks |
|
|
|
|
|
|
|
|
|
|
|
|
3 |
(i)
Receivables other than deferred & exports (incl. Bills purchased &
discounted by banks) |
8.015 |
28.034 |
30.837 |
33.921 |
|
|
(ii)
Export receivable (incl. Bills purchased & discounted by banks) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
4 |
Instalments
of deferred receivable (due within one year) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
5 |
Inventories |
|
|
|
|
|
|
(i)
Raw materials (including stores and other items in process of manufacture) |
|
|
|
|
|
|
(a)
Imported |
-- |
-- |
-- |
-- |
|
|
(b)
Indigenous |
-- |
-- |
-- |
-- |
|
|
(ii)
Stock-in-process |
-- |
-- |
-- |
-- |
|
|
(iii)
Other consumable stores |
-- |
-- |
-- |
-- |
|
|
(a)
Imported |
-- |
-- |
-- |
-- |
|
|
(b)
Indigenous |
-- |
-- |
-- |
-- |
|
|
(iv)
Finished Goods |
8.189 |
23.710 |
26.046 |
28.622 |
|
|
|
|
|
|
|
|
6 |
Advance
to suppliers of Raw materials & stores/spares |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
7 |
Advance
payment of taxes |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
8 |
Other
current assets |
0.142 |
0.150 |
0.155 |
0.160 |
|
|
|
|
|
|
|
|
9 |
Total Current
Assets [1 to 8] |
24.761 |
60.494 |
66.821 |
74.344 |
|
|
|
|
|
|
|
|
|
(To agree with item 34 in Form III) |
24.761 |
60.494 |
66.821 |
74.344 |
|
|
|
|
|
|
|
|
|
B. CURRENT
LAIBILITES |
|
|
|
|
|
|
(Other than bank
borrowings for working capital) |
|
|
|
|
|
10 |
Short term borrowings from others |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
11 |
Sundry Creditors - Trade |
15.673 |
16.407 |
17.741 |
19.496 |
|
|
|
|
|
|
|
|
12 |
Advance
payments from customers/deposits from dealers |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
13 |
Provision for Tax |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
14 |
Dividend
Payable |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
15 |
Other
statutory liabilities (due within one year) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
16 |
Deposits/
Instalments of term loan/ DPGs/ Debentures etc.(due within one year) |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
17 |
Other
current liabilities & Provisions (due within one year) |
2.731 |
3.000 |
3.500 |
4.00 |
|
|
|
|
|
|
|
|
18 |
Total Current
Liabilities [10 to 17] |
18.404 |
19.407 |
21.241 |
23.496 |
|
|
|
|
|
|
|
|
|
(To agree with sub-total B-Form III) |
18.404 |
19.407 |
21.241 |
23.496 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
Sr. No |
Particulars |
Provisional 2014 |
Estimate 2015 |
Projection 2016 |
Projection 2017 |
|
1 |
Total Current Assets (Form IV) |
24.761 |
60.494 |
66.821 |
74.344 |
|
|
|
|
|
|
|
|
2 |
Other Current Liabilities (other than bank
borrowings) (14 of Form IV) |
18.404 |
19.407 |
21.241 |
23.496 |
|
|
|
|
|
|
|
|
3 |
Working Capital Gap (WCP) (1-2) |
6.357 |
41.087 |
45.580 |
50.848 |
|
|
|
|
|
|
|
|
4 |
Minimum stipulated net working Capital -
25% of total current assets other than Export Receivables (as at 28(ii) of
form III) |
6.190 |
15.124 |
16.705 |
18.586 |
|
|
|
|
|
|
|
|
5 |
Actual/projected net working capital (45 in
form III) |
6.357 |
16.087 |
20.580 |
25.848 |
|
|
|
|
|
|
|
|
6 |
Item 3 minus item 4 |
0.167 |
25.963 |
28.875 |
32.262 |
|
|
|
|
|
|
|
|
7 |
Item 3 minus item 5 |
-- |
25.000 |
25.000 |
25.000 |
|
|
|
|
|
|
|
|
8 |
Maximum permissible bank finance (item 6 or
7 whichever is less) |
-- |
25.000 |
25.000 |
25.000 |
|
|
|
|
|
|
|
|
9 |
Excess borrowings, if any representing
short fall in NWC (4-5) |
-- |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL
DETAILS
(RS. IN MILLIONS)
|
Sr. No |
Particulars |
Estimated 31.03.2014 |
Projected 31.03.2015 |
Projected 31.03.2016 |
Projected 31.03.2017 |
|
a |
Paid
up Capital |
3.018 |
13.265 |
17.191 |
21.595 |
|
|
|
|
|
|
|
|
b |
Tangible
Networth |
7.565 |
17.191 |
21.595 |
26.789 |
|
|
|
|
|
|
|
|
c |
Investment
in Co’s [Of which in group Co] |
|
|
|
|
|
|
|
|
|
|
|
|
d |
Adjusted
TNW |
7.565 |
17.191 |
21.595 |
26.789 |
|
|
|
|
|
|
|
|
e |
Net
Block |
9.532 |
9.319 |
9.138 |
8.984 |
|
|
|
|
|
|
|
|
f |
Net
Sales : |
775.175 |
852.692 |
937.962 |
1031.758 |
|
|
|
|
|
|
|
|
g |
Other
Income |
|
|
|
|
|
|
|
|
|
|
|
|
h |
EBIDTA
|
5.451 |
9.162 |
10.420 |
11.549 |
|
|
|
|
|
|
|
|
i |
Interest |
0.334 |
0.350 |
0.365 |
0.380 |
|
|
|
|
|
|
|
|
j |
Gross
Profit/Loss |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
k |
Taxes |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
l |
Cash
Accruals |
5.301 |
5.895 |
6.555 |
7.669 |
|
|
|
|
|
|
|
|
m |
Depreciation
|
0.251 |
0.213 |
0.181 |
0.154 |
|
|
|
|
|
|
|
|
n |
Net
Profit/ [Loss] |
5.050 |
5.682 |
6.374 |
7.515 |
|
|
|
|
|
|
|
|
o |
Current
Assets |
24.761 |
60.494 |
66.821 |
74.344 |
|
|
|
|
|
|
|
|
p |
Current
Liabilities |
18.404 |
44.407 |
46.241 |
48.496 |
|
q |
RATIOS : |
|
|
|
|
|
r |
Current
ratio |
1.35 |
1.36 |
1.45 |
1.53 |
|
|
Debt/Equity
: |
|
|
|
|
|
s |
Term
liab./Adjusted TNW |
1.11 |
0.48 |
0.38 |
0.30 |
|
t |
TOL/
Adjusted TNW |
3.54 |
3.07 |
2.52 |
2.11 |
|
|
TOL/
Quasi Equity |
1.27 |
1.81 |
1.60 |
1.42 |
|
|
|
|
|
|
|
|
|
Profitability%: PAT/
Net Sales |
0.65% |
0.67% |
0.68% |
0.73% |
|
|
Interest
Coverage |
16.86005655 |
2.804579 |
2.696027796 |
2.97663663 |
|
u |
Inventory+
Receivables/ Sales (%) |
|
|
|
|
|
|
|
Current Year
2014 |
Next Year 2015 |
|
a |
Gross Sales |
775.175 |
852.692 |
|
|
|
|
|
|
b |
25% of Gross Sales |
193.794 |
213.173 |
|
|
|
|
|
|
c |
5% of Gross Sales |
38.759 |
42.635 |
|
|
|
|
|
|
d |
Limit Applied |
25.000 |
25.00 |
|
|
|
|
|
|
e |
(b-c) |
155.035 |
170.538 |
|
|
|
|
|
|
f |
(b-d) |
168.794 |
188.173 |
|
|
|
|
|
|
g |
Permissible Bank Finance [Lower of e &
f] |
155.035 |
170.538 |
|
|
|
Current Year
2014 |
Next Year 2015 |
Next Year 2016 |
|
|
Total Current Assets |
24.761 |
60.494 |
66.821 |
|
|
|
|
|
|
|
|
Other Current |
17.785 |
16.584 |
25.233 |
|
|
|
|
|
|
|
|
Working Capital Gap [a-b] |
6.976 |
43.910 |
41.588 |
|
|
|
|
|
|
|
|
Minimum stipulated Net Working Capital [25% of “a”] |
6.190 |
15.124 |
16.705 |
|
|
|
|
|
|
|
|
Actual / Projected Net Working Capital |
0.915 |
(0.792) |
6.357 |
|
|
|
|
|
|
|
|
(c-d) |
0.786 |
28.787 |
24.883 |
|
|
|
|
|
|
|
|
(c-e) |
6.061 |
44.702 |
35.231 |
|
|
|
|
|
|
|
|
MPBF [Lower of “f” and “g”] |
(5.040) |
50.000 |
50.000 |
|
|
|
|
|
|
|
|
Excess Borrowings, if |
|
|
|
------------------------------------------------------------------------------------------------------------------------------
NETWORTH
STATEMENT
MR.
DHARMENDRA RATANRAJ MEHTA
(RS. IN MILLIONS)
BANK
|
BANK |
BRANCH |
S/B C/D A/C NO. |
|
|
|
|
|
Axis Bank |
Zaveri Bazar, Menon Street |
912020059990659 |
|
ICICI Bank |
Zaveri Bazar |
026105007397 |
|
IndusInd Bank |
Kalbadevi Road |
200998929936 |
|
Kotak Mahindra Bank |
Crawford Market |
0511211131 |
------------------------------------------------------------------------------------------------------------------------------
DETAILS
OF ASSETS
IMMOVABLE PROPERTY
|
Assets |
Own / Joint name |
Free hold or Lease
hold |
Location/ address |
Present Value |
|
Non Agri. Land |
|
|
|
|
|
I. Commercial |
Own |
Freehold |
Shop No. 49,
Fround + 1st Floor, Abhushan Premises Cooperative Society Limited |
0.418 |
|
II.
Residential |
Own |
Freehold |
F-33, 2nd
Floor, Triveni, 66 Walkeshwar Road, Mumbai - 400006 |
6.900 |
|
Office |
|
|
|
|
|
Household
Furniture |
|
|
|
|
MOVABLE PROPERTY
INVESTMENT IN GOVT. SECURITIES LIKE BONDS / PPF/ NSC / KVP / IVP ETC.
|
Nature of
Securities |
Face value |
|
IDBI Infra Bonds |
0.020 |
VEHICLES
|
Type of Vehicle |
Present value |
|
Acitva |
0.032 |
|
Car |
0.327 |
|
Car – Fabia Skoda |
0.378 |
CAPITAL INVESTED IN BUSINESS – NAME OF FIRM/ COMPANY
OTHER INVESTMENTS/ASSETS
Investments in Private Limited Companies / firm: Rs.
[Including Subsidiaries, Sister, Associate
concerns. If Trust/Society, give full details]
Cash and Bank = Rs. 1.649 Millions
DETAILS
OF LIABILITIES
|
Borrowed from |
Outstanding Balance |
|
Secured Loan |
0.343 |
|
Unsecured Loan |
4.002 |
|
Total |
4.345 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT FOR
IMMOVABLE PROPERTY
(GENERAL DETAILS)
|
Purpose for which Valuation is made |
For assessment of fair market value of the
property for bank purpose. |
|
|
|
|
|
|
Date as on which valuation is made |
19.05.2014 |
|
|
|
|
|
|
Name of the Owner |
Mr. Dharmendra Ratanraj Mehta |
|
|
|
|
|
|
It the property is under Joint Ownership/ Co
Ownership Share of each such owner. Are the shares undivided? |
Sole Ownership |
|
|
|
|
|
|
Brief description of the property |
Shop No.49 at Ground and First Floor,
Abhushan Premises Cooperative Society Limited, Near Mumbadevi Temple, 33,
Mumbadevi Road, Dagina Bazar, Mumbai – 400002, Maharashtra |
|
|
|
|
|
|
Boundaries |
North |
Gold Market |
|
South |
Road |
|
|
East |
Road |
|
|
West |
Gold Market |
|
|
|
Latitude: 18057’11.38”N. Longitude: 72049’
51.36”E. |
|
|
|
|
|
|
Location, Street, Ward No. |
C.S. No. 1636, Bhuleshwar Division, Mumbai. |
|
|
|
||
|
Survey/Plot No. |
||
|
|
|
|
|
Is the property situated in the Residential/
Commercial/ Mixed Area/ Industrial Area? |
Commercial Area [Main Gold Market] |
|
|
|
|
|
|
Classification of Locality – High class/
Middle Class/ Poor class |
High Class |
|
|
|
|
|
|
Proximity to civic amenities like School, Hospitals,
Office, Markets, Cinema etc. |
Available within 1 – 2 kms. |
|
|
|
|
|
|
Means and Proximity to surface communication
by which the locality is served |
Nearest Railway Stations are Grant Road (W. Rly)
and Masjid Bunder (C. Rly). Buses and taxis are easily available from the
station near to/ up to the particular locality. The site is well connected by
roads. |
|
|
|
|
|
|
Area of land supported by documentary proof,
shape, dimensions and physical feature |
Valuation for Shop (G + 1 Floor) Carpet Area = 260 Sqfts [As per agreement copy] Saleable Area = 390 Sqfts or thereabout |
|
|
|
|
|
|
Does the land fall in an area included in
any Town Planning Scheme or any Development Plan of Government or any statutory
body? If so, give Particulars |
Within the Jurisdiction of MCGM. |
|
|
|
|
|
|
Attach a dimensioned site plan |
Owner may attach on demand if required. |
|
|
|
|
|
|
Attach Plans and elevations of all
structures standing on the land and a lay-out plan |
Owner may attach on demand if required. |
|
|
|
|
|
|
Is the building owner Occupied / tenanted /
both? |
Owner occupied. |
|
|
|
|
|
|
If Party owner-occupied, specify portion and
extent of area under owner-occupation |
Full. |
|
|
|
|
|
|
What is the Floor Space Index Permissible
and percentage actually utilized? |
As permissible by MCGM rules and regulation. |
|
|
|
|
|
|
Give details of water and electricity charges,
if any, to be borne by the owner |
These charges are to be borne by the owner. |
|
|
|
|
|
|
If a pump is installed, who has to bear the
cost of maintenance and operation owner or tenant? |
These charges are to be borne by the owner
through society. |
|
|
|
|
|
|
Who has to bear the cost of electricity
charges for lighting of common space like entrance hall, stairs, passage,
compound, etc. owner or tenant? |
These charges are to be borne by the owner
through society. |
|
|
|
||
|
What is the amount of property tax? Who is
the bear it? Give details with documentary proof |
||
|
|
||
|
Is the building insured? If so, give the
policy No. amount for which it is insured and the annual premium |
||
|
|
|
|
|
Give instance of sales of immovable property
in the locality on the separated sheet, indicating the name and address of
the property, registration No., sale price and area of land sold |
Adopting the ‘Comparable Sale Method’ of
valuation and based on Information gathered and survey done, the fair market
rates are found to be varying anything around Rs. 85000/- per sq ft on
saleable area basis because of main gold and jewelry market. |
|
|
|
|
|
|
Year of commencement of construction and
year of completion |
Prior to 1961 – 62. |
|
|
|
|
|
|
What was the method of construction……..by
contract/by employing labour directly/both? |
Details not available being old. |
|
|
|
||
|
For items of work done on contract, produce
copies of agreements |
||
|
|
||
|
For items of work done by engaging labour
directly, give basic rtes of materials and labour supported documentary proof
|
||
|
|
||
|
PART
II – VALUATION After having considered all the aforesaid factors,
marketability, real estate market conditions, locality, developed locality,
proximity to civic amenities, year of construction of the building, location
of the building, physical condition / life of the building, technical details
of the building / premises under consideration for valuation, ground and
first floor, saleable area of the premises, main gold market area, scarcity/
demand for shops and various other information gathered in this regard,
ascertain the fair market rate for the aforesaid premises as Rs.85000/- per
sqfts, resulting into a fair market value of 390 sqfts x Rs.
85000/- per sqfts = Rs. 33.150 Millions [Rupees Thirty
Three Millions One Lakhs Fifty Thousand only] as on 19.05.2014 for Bank purpose. Considering the factors as stated above I am
of the opinion that the distress sale value of the aforesaid premises would
be 15% less than the fair market value of the property viz. Rs. 28.000
Millions. |
||
|
TECHNICAL
DETAILS |
||
|
No of floors and height of each floor |
G + 1 storied building. |
|
|
|
|
|
|
Plinth area floor wise. [As per IS : 3861 - 1966] |
Valuation for Shop Carpet area = 260 sqfts [As per agreement copy] Saleable area = 390 sqfts or thereabout |
|
|
|
|
|
|
Year of Construction |
Prior to 1961 – 62 or thereabout. |
|
|
|
|
|
|
Estimated future life |
20 years or thereabout [with proper maintenance and care] |
|
|
|
|
|
|
Type of construction [Load - bearing walls/
R.C.C. frame/ steel frame structure] |
Load bearing structure |
|
|
|
|
|
|
Type of foundations |
Open Foundation. |
|
|
|
|
|
|
Walls |
|
|
|
a) Basement and Plinth |
230 mm thick burnt brick masonry walls in |
|
|
b) Ground Floor |
Cement mortar |
|
|
c) Superstructure above ground floor |
|
|
|
|
|
|
|
Partitions |
115 mm thick burnt brick masonry walls in
cement mortar |
|
|
|
|
|
|
Doors and Windows etc. (Floor-Wise) |
MS rolling shutter / Glass doors |
|
|
|
|
|
|
Flooring (Floor-wise) |
|
|
|
a) Ground Floor |
Marble tiles flooring |
|
|
b) First Floor |
-- |
|
|
|
|
|
|
Finishing (Floor Wise) |
|
|
|
c) Ground Floor |
Plastered and distempered |
|
|
d) First Floor |
-- |
|
|
|
|
|
|
Roofing and Terracing |
AC sheet roofing |
|
|
|
|
|
|
Internal Wiring – Surface conduit |
Concealed wiring |
|
|
|
|
|
|
Class of fitting Superior / Ordinary / Poor |
Medium |
|
|
|
|
|
|
Sanitary Installations |
|
|
|
|
|
|
|
I.
No. of water closets |
Community type of sanitary system |
|
|
II.
No. of lavatory basins |
||
|
III.
No. of urinals |
||
|
IV.
No. of sinks |
||
|
V.
No. of bath tubs |
||
|
VI.
No. of bidets |
||
|
VII.
No. of geysers |
||
|
|
|
|
|
Class of fittings |
Ordinary |
|
|
Superior colored
|
|
|
|
Superior white /
ordinary |
|
|
|
|
|
|
|
Compound Wall |
|
|
|
a) Height and length |
Shop directly facing main road |
|
|
b) Type of construction |
-- |
|
|
|
|
|
|
Roads and Paving with in the compound,
approximate area and type of paving |
Directly facing main road |
|
|
|
|
|
|
Sewage disposal, whether connected to public
sewers |
Connected to septic tank and soakage pit |
|
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
v
Furniture and Fittings
v
Machinery and Plant
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 records 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. 60.10 |
|
|
1 |
Rs. 102.04 |
|
Euro |
1 |
Rs. 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.