|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAGIC FASHION |
|
|
|
|
Registered
Office : |
Shop No. 33, 34 and 35, Upper Ground Floor, B Tower, Landmark Empire, Opposite
Bhaktidham, Surat Kadodara Road, Surat-394210, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 [Provisional] |
|
|
|
|
Date of
Incorporation : |
12.12.2013 |
|
|
|
|
Com. Reg. No.: |
736/11.06.2014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.617 Millions |
|
|
|
|
IEC No.: |
5213022430 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAXFM8690D |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Exporter of Textile Materials. |
|
|
|
|
No. of Employees
: |
25 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
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 a new partnership concern having moderate track record. The company possesses an average financial profile in its first
partial year of operations ending FY 2014, marked by adequate capital
structure characterized by zero debt along with huge inventory reported
during the year under review. Management has reported a minimal turnover and profit with healthy
margins for 3 months ending as of FY 2014 and has expected a decent growth
from its projections. The ratings also take into consideration the decently value assets
which has been possessed by the partners and the geographical present of the
subject in country’s biggest man-made fabric market i.e. Surat which is well
known for its synthetic products market. Trade relations are improving. Business is active. Payment terms are
reported as slow but correct. In view of vast experience of the promoters and an urge to enter into
the export market, the subject can be considered for business dealings with
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
NEWS
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
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 : |
Ms. Sonica |
|
Designation : |
Accountant |
|
Contact No.: |
91-261-2645622 |
|
Date : |
21.06.2014 |
LOCATIONS
|
Registered Office : |
Shop No. 33, 34 and 35, Upper Ground Floor, B Tower, Landmark Empire, Opposite
Bhaktidham, Surat Kadodara Road, Surat-394210, Gujarat, India |
|
Tel. No.: |
91-261-2645622 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Manoj Ganeshlal Bhatia |
|
Designation : |
Partner |
|
Address : |
B-703, Opera House Building, City Light, Surat, Gujarat, India |
|
Date of Birth/Age : |
09.12.1971 |
|
Qualification : |
B.Com |
|
Experience : |
14 Years |
|
Pan No.: |
|
|
|
|
|
Name : |
Mrs. Rinku Manoj Bhatia |
|
Designation : |
Partner |
|
Address : |
B-703, Opera House Building, City Light, Surat, Gujarat, India |
|
Date of Birth/Age : |
21.04.1975 |
|
Qualification : |
B.Com |
|
Experience : |
2 Years |
|
Pan No.: |
ADIPB3643H |
KEY EXECUTIVES
|
Name : |
Ms. Sonica |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Exporter of Textile Materials. |
|
|
|
|
Exports : |
|
|
Products : |
Sarees, Dress Materials and Other Textile Products |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Credit [90 Days] |
|
|
|
|
Purchasing : |
Credit [30 Days] |
GENERAL INFORMATION
|
Suppliers : |
Address: 290/1, GIDC Road
No. 2, Sachin, Surat, Gujarat, India Contact
No.: 91-261-2399732
Address: Plot No. 221,
Village Jolva, Palsana, Surat, Gujarat, India Contact
No.: 91-9825112190
Address: B/30-31, Maruti
Industrial Estate, BRC Near Daksheshwer Mandir, Pandesara, Surat, Gujarat,
India Contact
No.: 91-9275114989 |
|
|
|
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
25 [Approximately] |
|
|
|
|
Bankers : |
IDBI Bank |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
|
Capital Investment : |
|
|
Owned : |
Rs.5.617 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.5.617 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF
FUNDS |
|
|
31.03.2014 [Provisional] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
|
5.617 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.018 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
5.635 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5.635 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.180 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
5.944 |
|
|
Sundry Debtors |
|
|
0.090 |
|
|
Cash & Bank Balances |
|
|
0.275 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
6.309 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
1.845 |
|
|
Provisions |
|
|
0.009 |
|
Total
Current Liabilities |
|
|
1.854 |
|
|
Net Current Assets |
|
|
4.455 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5.635 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 [Provisional] |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
0.090 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
0.090 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative Expenses |
|
|
0.480 |
|
|
|
Manufacturing Expenses |
|
|
0.988 |
|
|
|
TOTAL |
|
|
1.468 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
|
0.018 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
|
0.018 |
|
The above information has been parted by Ms. Sonica.
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2014 [Provisional] |
|
PAT / Total
Income |
(%) |
|
|
20.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
20.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
3.40 |
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 one year |
Yes |
|
12] |
Profitability for one year |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
NEWS:
SURAT'S TEXTILE EXPORTERS EYEING US
MARKET
15 FEBRUARY
2014
After Indian diamond industry, the country's biggest
man-made fabric (MMF) sector in the Diamond City is eyeing the United States of
America to increase the export of non-apparel fabrics.
In 2013, the USA
imported textiles and apparel worth $104 billion, according to the latest Major
Shippers Report, released by the US Department of Commerce. Of the total US
textile and apparel imports, cotton products accounted for $51.615 billion,
while man-made fibre (MMF) products were worth $46.685 billion, followed by
$4.713 billion of wool products and $1.710 billion of products from silk and
vegetable fibres.
The textile sector in
the city weaves around 3 crore metres of fabric per day. The annual production
of fabric is pegged at 9 billion metres, which account for 60 per cent of the
total production of polyester cloth in the country worth Rs 300000.000
Millions.
Around 90 per cent
of the textile production is dedicated to saris and dress materials and the
rest go into home textiles.
Narayan Agarwal,
regional chairman, Synthetic Rayon Textile Export Promotion Council (SRTEPC),
told TOI, "There is a major increase in the import of non-apparel MMF
products by the USA. Looking at this increasing trend and buoyant US economy,
textile exporters in Surat and other places in south Gujarat are confident of
increased exports of fabrics in 2014."
According to
Agarwal, China accounted for 39.79 per cent share of all the US textile and
garment imports in 2013 at $41.673 billion. Vietnam, India, Indonesia and
Bangladesh were among the top five suppliers of textiles and clothing to the
USA during the year, contributing 8.38 per cent, 6.01 per cent, 4.99 per cent
and 4.87 per cent share, respectively.
Surat exports around
Rs 1,100 crore worth of non-apparel fabric to Pakistan, West Asia and the USA.
The export percentage to the USA is quite low compared to Pakistan and West
Asia.
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR. MANOJ GANESHLAL BHATIA
|
Particular |
Driving License |
Passport |
|
No. |
GJ05/005081/04 |
J 9259454 |
|
Valid Upto |
08.12.2004 |
19.10.2021 |
|
Date and Place of Issue |
21.01.2004, Surat |
20.10.2011, Mumbai |
BANK A/C:
|
Bank |
Branch |
SB/C/D A/C NO. |
Present Balance |
Last 6 Months Avg. Bal. |
|
IDBI Bank |
Ghod Dod Road |
051104000179843 |
Rs.161819.780 Millions [As On 31.03.2014] |
-- |
DETAILS OF ASSETS:
RS. IN MILLION
|
Assets |
Own/Joint Name |
Area |
Free Hold or
Lease Hold |
Location/
Address |
Purchase Cost |
Present Value |
Whether Encumbered |
|
Residential Flat |
Joint Name |
1900 Sq. Ft |
Free Hold |
B-703, Opera
House Building, City Light, Surat, Gujarat, India |
0.509 |
6.000 |
Free |
|
|
|
|
|
|
|
|
|
|
Shop |
Joint Name |
7500 Sq. Ft |
Free Hold |
UG-33, UG-34, and UG-35, Landmark Empire, Parvat Petia |
3.350 |
25.000 |
Free |
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
31.000 |
|
Whether Self-Occupied/ Rented/ Leased Out: Self Occupied
RS. IN MILLIONS
|
Name of Company |
Current Market
Value |
|
|
|
|
Mutual Fund |
0.050 |
|
|
|
|
Shares |
1.270 |
|
|
|
|
Total |
1.320 |
VEHICLE
RS. IN MILLIONS
|
Type of Vehicle |
Registration No. |
Model |
Year of Make |
Cost at The Time of Purchase |
RC Book Details |
Present Value |
|
Motor Car |
GJ 5 CM 6930 |
Toyota Kirloskar |
2007 |
1.098 |
RTO Surat Dated 04.12.2007 |
0.734 |
Capital Invested in Business- Name of Firm/Company [As on latest Balance
Sheet]:
|
Name of the Company/Firm in Which Investment is Made |
Present Value of Investment As On 31.03.2014 |
|
N M Fashion |
10.083 |
|
Magic Fashion |
5.617 |
|
Total |
15.700 |
OTHER INVESTMENT/ASSETS
[Including Subsidiaries, Sister, Associate Concern. If Trust/Society]
|
Particular |
Amounts [Rs. In Millions] |
|
Other Assets |
0.135 |
|
Closing Stock |
20.259 |
|
Loans and Advances |
21.296 |
|
Cash and Bank Balance |
1.886 |
|
Total |
43.576 |
DETAILS OF LIABILITIES:
OTHER LIABILITIES
|
Particular |
Amount in
Millions |
|
Unsecured Loan |
8.302 |
|
LIC Loan |
1.046 |
|
Sundry Creditor |
16.394 |
|
Other Liability |
0.346 |
|
Total |
26.088 |
LEGAL HEIRS / FAMILY PARTICULARS
|
Name |
Occupation |
Relation |
Age |
Marital Status |
Address |
|
Rinku M Bhatia |
Business |
Wife |
39 |
Married |
B-703, Opera
House Building, City Light, Surat, Gujarat, India |
|
Radhika M Bhatia |
Student |
Daughter |
12 |
Unmarried |
B-703, Opera
House Building, City Light, Surat, Gujarat, India |
|
Pritika M Bhatia |
Student |
Daughter |
8 |
Unmarried |
B-703, Opera
House Building, City Light, Surat, Gujarat, India |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MRS. RINKU MANOJ BHATIA
|
Particular |
Passport |
|
No. |
H 3602210 |
|
Valid Upto |
21.01.2019 |
|
Date and Place of Issue |
22.01.2009, Mumbai |
BANK A/C:
|
Bank |
Branch |
SB/C/D A/C NO. |
Present Balance |
Last 6 Months Avg. Bal. |
|
IDBI Bank |
Ghod Dod Road |
051104000179850 |
Rs.4593.698 Millions [As on 31.03.2014] |
-- |
DETAILS OF ASSETS:
RS. IN MILLION
|
Assets |
Own/Joint Name |
Area |
Free Hold or
Lease Hold |
Location/
Address |
Purchase Cost |
Present Value |
Whether
Encumbered |
|
Residential Flat |
Joint Name |
1900 Sq. Ft |
Free Hold |
B-703, Opera
House Building, City Light, Surat, Gujarat, India |
2.750 |
6.000 |
Free |
|
|
|
|
|
|
|
|
|
|
Shop |
Joint Name |
7500 Sq. Ft |
Free Hold |
UG-33, UG-34, and UG-35, Landmark Empire, Parvat Petia |
3.762 |
25.000 |
Free |
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
31.000 |
|
Whether Self-Occupied/ Rented/ Leased Out: Self Occupied
RS. IN MILLIONS
|
Name of Company |
Current Market
Value |
|
|
|
|
Mutual Fund |
0.025 |
|
|
|
|
Shares |
1.975 |
|
|
|
|
Total |
2.000 |
INVESTMENT IN GOVT. SECURITIES LIKE BONDS/PPF/NSC/KVP/IVP ETC.
|
Nature of Securities |
Face Value |
|
PPF |
Rs.0.165 Million |
VEHICLE
RS. IN MILLIONS
|
Type of Vehicle |
Registration No. |
Model |
Year of Make |
Cost at The Time of Purchase |
RC Book Details |
Present Value |
|
Motor Car |
GJ 5 CM 6930 |
Maruti Suzuki |
October, 2009 |
0.481 |
RTO Surat Dated 05.11.2009 |
0.323 |
OTHER INVESTMENT/ASSETS
[Including Subsidiaries, Sister, Associate Concern. If Trust/Society]
|
Particular |
Amounts [Rs. In Millions] |
|
Other Assets |
2.125 |
|
Closing Stock |
7.386 |
|
Loans and Advances |
3.077 |
|
Other Current Assets |
0.026 |
|
Cash and Bank Balance |
0.126 |
|
Total |
12.740 |
DETAILS OF LIABILITIES:
OTHER LIABILITIES
|
Particular |
Amount in
Millions |
|
Unsecured Loan |
15.532 |
|
LIC Loan |
0.529 |
|
Sundry Creditor |
6.984 |
|
Total |
23.045 |
LEGAL HEIRS / FAMILY PARTICULARS
|
Name |
Occupation |
Relation |
Age |
Marital Status |
Address |
|
Manoj Bhatia |
Business |
Husband |
42 |
Married |
B-703, Opera
House Building, City Light, Surat, Gujarat, India |
|
Radhika M Bhatia |
Student |
Daughter |
12 |
Unmarried |
B-703, Opera
House Building, City Light, Surat, Gujarat, India |
|
Pritika M Bhatia |
Student |
Daughter |
8 |
Unmarried |
B-703, Opera
House Building, City Light, Surat, Gujarat, India |
------------------------------------------------------------------------------------------------------------------------------
OPERATING STATEMENT
(RS. IN MILLIONS)
|
Particulars |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
|
|
Estimated |
Projection |
Projection |
Projection |
|
|
|
|
|
|
|
Export Sales |
126.000 |
157.500 |
165.375 |
176.644 |
|
Add: Other Revenue Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
Less: Excise Duty |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Sales |
126.000 |
157.500 |
165.375 |
176.644 |
|
|
|
|
|
|
|
% age rise (+) or fall (-)
in net sales compared to previous year (annualized) |
0.00% |
25.00% |
5.00% |
5.00% |
|
|
|
|
|
|
|
Cost of Sales |
|
|
|
|
|
a) Raw Materials (including
stores) |
|
|
|
|
|
- Imported |
|
|
|
|
|
- Indigenous |
102.060 |
109.146 |
114.621 |
120.365 |
|
|
|
|
|
|
|
Power and Fuel |
1.000 |
1.250 |
1.313 |
1.378 |
|
Job Work Expenses |
25.200 |
31.500 |
33.075 |
34.729 |
|
Other Trd. Expenses |
2.520 |
3.150 |
3.308 |
3.473 |
|
Depreciation |
0.177 |
0.150 |
0.128 |
0.109 |
|
|
|
|
|
|
|
Sub-Total |
130.957 |
145.196 |
152.445 |
160.054 |
|
|
|
|
|
|
|
Add: Opening Stock in
process |
0.000 |
15.000 |
15.250 |
15.500 |
|
|
|
|
|
|
|
Sub Total |
130.957 |
160.196 |
167.695 |
175.554 |
|
|
|
|
|
|
|
Less: Closing stock in
process |
15.000 |
15.250 |
15.500 |
15.750 |
|
|
|
|
|
|
|
Sub-Total (Cost of
Production) |
115.957 |
144.946 |
152.195 |
159.804 |
|
|
|
|
|
|
|
Add: Opening Stock of
Finished Goods |
0.000 |
0.000 |
0.000 |
0.000 |
|
Subtotal |
115.957 |
144.946 |
152.195 |
159.804 |
|
|
|
|
|
|
|
Less: Closing Stock of Finished
Goods |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Sub-Total (Cost of Sales) |
115.957 |
144.946 |
152.195 |
159.804 |
|
|
|
|
|
|
|
Selling, general and
administrative Expenses |
6.300 |
7.673 |
8.178 |
8.667 |
|
Sub-Total |
122.257 |
152.619 |
160.373 |
168.471 |
|
|
|
|
|
|
|
Operating Profit |
3.743 |
4.881 |
5.004 |
5.174 |
|
|
|
|
|
|
|
Interest |
1.856 |
2.475 |
2.475 |
2.475 |
|
|
|
|
|
|
|
Operating profit after
interest |
1.887 |
2.406 |
2.529 |
2.699 |
|
|
|
|
|
|
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Net of other non-operating
income/expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Profit before tax/Loss |
1.887 |
2.406 |
2.529 |
2.699 |
|
|
|
|
|
|
|
Less: Provision for taxes |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Net Profit (10-11) |
1.887 |
2.406 |
2.529 |
2.699 |
|
|
|
|
|
|
|
Retained Profit |
1.887 |
2.406 |
2.529 |
2.699 |
|
|
|
|
|
|
|
Retained Profit/Net Profit
(% age) |
100% |
100% |
100% |
100% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
|
|
Estimated |
Projection |
Projection |
Projection |
|
CURRENT
LIABILITIES |
|
|
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
|
From applicant Banks |
20.000 |
20.000 |
20.000 |
20.000 |
|
From Other Banks |
5.000 |
5.000 |
5.000 |
5.000 |
|
Of which BP and BD |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sub
Total (A) |
25.000 |
25.000 |
25.000 |
25.000 |
|
|
|
|
|
|
|
Short Term Borrowings from others |
|
|
|
|
|
Sundry creditors [Trade] |
8.388 |
12.559 |
13.189 |
13.850 |
|
Sundry creditors [Expenses] |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advance payments from customers/ deposits from dealers |
0.000 |
0.000 |
0.000 |
0.000 |
|
Provision of taxes |
0.000 |
0.000 |
0.000 |
0.000 |
|
Dividend Payable |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Statutory Liabilities (Due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deposits/ Installments of Term/ loans/DPGs/Debentures etc.
(Due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other current liabilities and provision (Due within one year) |
1.215 |
1.519 |
1.595 |
1.675 |
|
|
|
|
|
|
|
Sub
– Total (B) |
9.604 |
14.078 |
14.784 |
15.525 |
|
|
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
34.604 |
39.078 |
39.784 |
40.525 |
|
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
Debentures (Not Maturing within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Unsecured Loans from Directors (Redeemable after one year) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Term Loans (Excluding Installment) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Deferred Installment (Due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Term deposit (repayable after one year) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Other Term Liabilities |
3.300 |
3.300 |
3.300 |
3.300 |
|
|
|
|
|
|
|
TOTAL
TERM LIABILITIES |
3.300 |
3.300 |
3.300 |
3.300 |
|
TOTAL
OF OUTSIDE LIABILITIES |
37.904 |
42.378 |
43.084 |
43.825 |
|
|
|
|
|
|
|
NET
WORTH |
|
|
|
|
|
Share Capital Account |
5.635 |
9.622 |
11.878 |
14.207 |
|
Addition during the year |
2.200 |
0.000 |
0.000 |
0.000 |
|
Less: Withdrawals |
0.100 |
0.150 |
0.200 |
0.250 |
|
General Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
|
Shares Premium Account |
0.000 |
0.000 |
0.000 |
0.000 |
|
Surplus (+) or deficit (-) in Profit and Loss Account others (Specify)
|
1.887 |
2.406 |
2.529 |
2.699 |
|
Differed Tax Liability |
0.000 |
0.000 |
0.000 |
0.000 |
|
Less: Revolution Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
|
Capital Subsidy |
0.000 |
0.000 |
0.000 |
0.000 |
|
Unsecured Loan (Quashi Capital) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
NET WORTH |
9.622 |
11.878 |
14.207 |
16.656 |
|
|
|
|
|
|
|
TOTAL LIABILITIES |
47.526 |
54.256 |
57.291 |
60.481 |
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.200 |
0.225 |
0.250 |
0.275 |
|
|
|
|
|
|
|
Fixed deposit with bank |
0.000 |
0.000 |
0.000 |
0.000 |
|
Receivable Other than Exports |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Installment of deferred receivable (due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Export receivables (include bills purchase and discounted
by banks) |
31.068 |
37.110 |
39.871 |
42.816 |
|
|
|
|
|
|
|
INVENTORY: |
|
|
|
|
|
Raw materials
(including stores and other item used in the process of manufacturing) |
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Stock – in – process |
15.000 |
15.250 |
15.500 |
15.750 |
|
Finished Goods |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Other Consumable Spares |
0.000 |
0.000 |
0.000 |
0.000 |
|
Imported Consumables |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous Consumables |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Advance to Suppliers of Raw materials and stores and
spares |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advances Payments Taxes |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other current assets |
0.254 |
0.819 |
0.945 |
1.023 |
|
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
46.522 |
53.404 |
56.566 |
59.865 |
|
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
Gross Block |
1.180 |
1.180 |
1.180 |
1.180 |
|
Depreciation to date |
0.177 |
0.327 |
0.455 |
0.564 |
|
|
|
|
|
|
|
NET
BLOCK |
1.003 |
0.853 |
0.725 |
0.616 |
|
|
|
|
|
|
|
Investment/ books debts/ advances/ exposits which are not
current assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
Investment in subsidiary company |
0.000 |
0.000 |
0.000 |
0.000 |
|
Others Investment |
0.000 |
0.000 |
0.000 |
0.000 |
|
Security Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
OTHER NON – CURRENT ASSETS |
47.526 |
54.256 |
57.291 |
60.481 |
|
|
|
|
|
|
|
Tangible assets |
9.622 |
11.878 |
14.207 |
16.656 |
|
|
|
|
|
|
|
Net working capital |
11.919 |
14.326 |
16.782 |
19.340 |
|
|
|
|
|
|
|
Current ratio |
1.34 |
1.37 |
1.42 |
1.48 |
|
|
|
|
|
|
|
TOL/ Networth |
3.94 |
3.57 |
3.03 |
2.63 |
|
|
|
|
|
|
|
TOL/ Quasi Networth |
2.68 |
2.57 |
2.27 |
2.03 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF CURRENT ASSETS AND
CURRENT LIABILITIES
(RS. IN MILLIONS)
|
PARTICULARS |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
|
|
Estimated |
Projection |
Projection |
Projection |
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.200 |
0.225 |
0.250 |
0.275 |
|
|
|
|
|
|
|
Investment (other than long term investments) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Receivables other than deferred and exports (incl. bills
purchased and discounted by bank) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Export receivable (incl. bills purchased and discounted by
banks) |
31.068 |
37.110 |
39.871 |
42.816 |
|
|
|
|
|
|
|
INVENTORY: |
|
|
|
|
|
Raw materials
(including stores and other item used in the process of manufacturing) |
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Stock – in – process |
15.000 |
15.250 |
15.500 |
15.750 |
|
Finished Goods |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Other Consumable Spares |
0.000 |
0.000 |
0.000 |
0.000 |
|
Imported Consumables |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous Consumables |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Advance to Suppliers of Raw materials and stores and
spares |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advances Payments Taxes |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other current assets (specify major items ) |
0.254 |
0.819 |
0.945 |
1.023 |
|
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
46.522 |
53.404 |
56.566 |
59.865 |
|
|
|
|
|
|
|
CURRENT
LIABILITIES (other than bank borrowings for working capital) |
|
|
|
|
|
|
|
|
|
|
|
Short term borrowings from others |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Sundry Creditors – Trade LC Creditors |
8.388 |
12.559 |
13.189 |
13.850 |
|
|
|
|
|
|
|
Advance payments from customers/deposit from dealers |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Provision for tax |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Dividend payable |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Other statutory liabilities (due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Deposits/Installments of term loan/DPGs/Debentures, etc.
(due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Other current liabilities and provision (due within one
year) |
1.215 |
1.519 |
1.595 |
1.675 |
|
|
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
9.604 |
14.078 |
14.784 |
15.525 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF MAXIMUM PERMISSIBLE BANK
FINANCE FOR WORKING CAPITAL
(RS IN MILLIONS)
|
PARTICULARS |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
|
|
Estimated |
Projection |
Projection |
Projection |
|
|
|
|
|
|
|
Total Current Assets |
46.522 |
53.404 |
56.566 |
59.865 |
|
|
|
|
|
|
|
Other Current Liabilities (Other than bank borrowings) |
9.604 |
14.078 |
14.784 |
15.525 |
|
|
|
|
|
|
|
Working Capital Gap (WCG) |
36.919 |
39.326 |
41.782 |
44.340 |
|
|
|
|
|
|
|
Minimum stipulated net working capital i.e.
25% of WCG/ 25% of total current assets as the case may be depending upon the
method of lending being applied (Export receivables to be excluded under both
methods) |
11.631 |
13.351 |
14.142 |
14.966 |
|
|
|
|
|
|
|
Actual / projected net working capital (45
in form III) |
11.919 |
14.326 |
16.782 |
19.340 |
|
|
|
|
|
|
|
Item 3 minus item 4 |
25.288 |
25.975 |
27.641 |
29.374 |
|
|
|
|
|
|
|
Item 3 minus item 5 |
25.000 |
25.000 |
25.000 |
25.000 |
|
|
|
|
|
|
|
Maximum permissible bank finance (Item 6 or 7 whichever is lower) |
25.000 |
25.000 |
25.000 |
25.000 |
|
|
|
|
|
|
|
Excess Borrowing Representing Short falling
NWC |
-- |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
FUNDS FLOW STATEMENT
(RS IN MILLIONS)
|
PARTICULARS |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
|
|
Estimated |
Projection |
Projection |
Projection |
|
|
|
|
|
|
|
SOURCES OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
|
Net Profit (after deferred tax) |
1.887 |
2.406 |
2.529 |
2.699 |
|
Depreciation |
0.177 |
0.150 |
0.128 |
0.109 |
|
Increase in share capital/appln./premium |
2.200 |
0.000 |
0.000 |
0.000 |
|
Increase in term liabilities (including public deposits) |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Unsecured Loans |
0.000 |
0.000 |
0.000 |
0.000 |
|
Decrease in |
0.000 |
0.000 |
0.000 |
0.000 |
|
Fixed assets and capital WIP |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other non-current assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
Inc./(dec.) in deferred tax liability /
(asset) |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other |
3.300 |
0.000 |
0.000 |
0.000 |
|
Current liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
|
TOTAL |
7.564 |
2.556 |
2.657 |
2.808 |
|
|
|
|
|
|
|
USES |
|
|
|
|
|
Net loss |
0.000 |
0.000 |
0.000 |
0.000 |
|
Decrease in term liabilities (including public deposits) |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in |
0.000 |
0.000 |
0.000 |
0.000 |
|
Fixed assets and capital WIP |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other non-current assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
Dividend payments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Inc./(Dec.) in deferred tax
assets/(liability) |
0.000 |
0.000 |
0.000 |
0.000 |
|
Others |
0.100 |
0.150 |
0.200 |
0.250 |
|
Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
|
Drawings |
0.000 |
0.000 |
0.000 |
0.000 |
|
TOTAL |
0.100 |
0.150 |
0.200 |
0.250 |
|
|
|
|
|
|
|
Long term surplus (+) / Deficit (-) |
7.464 |
2.407 |
2.457 |
2.558 |
|
|
|
|
|
|
|
+ / (-) in current assets |
40.213 |
6.881 |
3.163 |
3.298 |
|
|
|
|
|
|
|
+ (-) in current liabilities other than bank
borrowings |
7.749 |
4.475 |
0.706 |
0.741 |
|
|
|
|
|
|
|
+ / (-) in working capital gap |
32.464 |
2.407 |
2.457 |
2.558 |
|
|
|
|
|
|
|
Net surplus (+) / deficit (-) (Differences
of) |
(25.000) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
+ / (-) in bank borrowings |
25.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
* Break Up of (4) |
|
|
|
|
|
+ / (-) in Raw Material |
0.000 |
0.000 |
0.000 |
0.000 |
|
+ / (-) in Stock in Process |
9.056 |
0.250 |
0.250 |
0.250 |
|
+ / (-) in finished goods |
0.000 |
0.000 |
0.000 |
0.000 |
|
+ / (-) in Receivables |
0.000 |
0.000 |
0.000 |
0.000 |
|
- Domestic |
(0.090) |
0.000 |
0.000 |
0.000 |
|
- Export |
31.068 |
6.041 |
2.762 |
2.945 |
|
+ / (-) in stores and spares |
0.000 |
0.000 |
0.000 |
0.000 |
|
+ / (-) in other current assets |
0.179 |
0.590 |
0.151 |
0.103 |
|
TOTAL |
40.213 |
6.881 |
3.163 |
3.298 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
GENERAL DETAILS: |
|
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|
Purpose for which valuation is made |
To determine open present fair market value |
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Date as on which valuation is made |
05.06.2014 |
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|
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|
Name of the Owner/Owners |
|
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|
|
|
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|
If the property is under joint ownership/
co-ownership, share of each such owner. Are the shares undivided? |
Property is under joint ownership with
undivided equal share |
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|
|
|
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|
Brief description of the property |
Shops on upper ground floor Landmark
Empires, Building No. B, Surat-Kadodara Road, Magob, Surat |
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|
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|
Location, Street, Ward No.: |
Block No. No. UG-33, 34 and 35 at upper
Ground Floor, Building No. B, Landmark empires [Shopping Complex and Textiles
Houses] Surat-Kadodara Road, Magob, Surat |
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|
|
|
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|
Survey/ Plot No. Land |
Block No. 29, Paikee 2 [Sy. No. 22], Block
No. 35 Paikee 2 [Sy. No. 21/1+2+3, Draft Town Planning Scheme No. 64, Dumbhal-Magob]
Final Plot No. 45, Magob, Surat |
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|
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|
Is the property situated in residential/
commercial/ mixed area/ industrial area |
Commercial and Shopping Area |
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|
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|
Classification of locality-high class/
middle class/ poor class |
Locality is of traders of textile cloth and
retail shops of commodities on main road
|
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|
|
|
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|
Proximity to civic amenities, like schools,
hospitals, offices, markets, cinema, etc. |
Civic amenities are away, Surat Railway Station,
Central Bus Depot, Main Market are 4-5 Km. away |
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|
|
|
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|
Means and proximity to surface communication
by the locality is served |
Private Vehicles |
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|
|
|
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|
Area of land supported by documentary proof,
shape dimensions and physical features |
Area of Land: Undivided proportionate share
in land |
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|
|
|
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|
Is it leasehold, the name of lessor/lessee,
nature of lease, dates of commencement and terminatior of lease and terms of
renewal of lease |
It is Freehold |
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|
|
|
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|
Is there any restrictive covenant in regard
to use of land? |
Yes, it is to be used as per zoning
regulations of SUDA |
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|
|
|
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|
Does the land fall in an area included in
any Town Planning Scheme or any development plan of government or any statutory
body? |
Yes, it is covered in Draft Town Planning
Scheme No. 64 [Dumbhal-Magob] |
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|
|
|
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|
Has any contribution been made towards
development or is any contribution been made towards development or is any
demand for such contribution still outstanding? |
Not explored |
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|
|
|
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|
Furnish technical details of the building on
a separate sheet |
Furnished in Part II |
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|
|
|
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|
It is building owner-occupied/ tenanted/
both? |
Shops are owner occupied |
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|
|
|
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|
What is the floor space index permissible
and percentage actually utilized? |
Permissible F.S.I. 1.9 F.S.I. utilized 100% |
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|
|
|
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|
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 |
Property is transferred with consideration
of Jantri [Annual Statement of Rates] only |
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|
|
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|
Land rate adopted in this valuation |
Composite built up area rate adopted with
undivided proportionate share in land and amenities |
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|
|
|
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|
Is sale instances are not available or not
relied upon. The basis of arriving at the land rate |
Through local inquiry with prestigious real estate
consultants and guide line rate (Jantri) with correction factors. |
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|
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|
TECHNICAL
DETAILS OF BUILDING: |
|
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|
No. of floors and height of each floor |
Upper Ground Floor |
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|
|
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|
Plinth Area Floor-Wise [As per IS: 3861-2002] |
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|
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|
Year of construction |
2009-2011 |
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|
|
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|
Estimated future life |
65 years in normal condition with regular
and preventive maintenance |
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|
|
|
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|
Type of construction-load bearing Walls/ RCC
Frame/ Steel Frame |
RCC Frame Structure |
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|
|
|
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|
Type of foundations |
Not Explored |
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|
|
|
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|
Walls: Block No. UG-33-34-35 (a) Basement and Plinth (b) Ground Floor (c) Superstructure above Ground Floor |
23 cm. thick brick wall in cement mortar 23 cm. thick brick wall in cement mortar 23 cm. thick brick wall in cement mortar |
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|
Partitions |
Glass partitions for office |
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|
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|
Door and windows (Floor-Wise) Block No. UG-33-34-35 |
Ms. Rotting Shutters and Fully Glazed
Aluninum Windows |
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|
|
|
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|
Flooring (Floor-Wise) Block No. UG-33-34-35 |
Vitrified Tiles |
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|
|
|
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|
Finishing (Floor-Wise) Block No. UG-33-34-35 |
Smooth cement plaster coated with colour
wash |
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|
|
|
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|
Roofing and terracing |
R.C.C. slab on top floor with water proofing
|
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|
|
|
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|
Special architectural or decorative
features, if any |
Not provided |
It is common that distress value will fetch lesser
value than the fair market value. The percentage of lesser value varies
according to the economic condition, physical and legal status of the property
etc. at the time of sale under pressure.
After considering various factors prevailing
at the time of valuation like present economic condition, existing market
condition, condition of the property, location of the property under valuation
etc. I allow 15% discount on fair market value to arrive at the present
distress value of the property.
Distress Value of the Property = 85/100 X
Rs.45.500 Millions
= Rs.38.675 Millions
Registration value for similar property with sub registrar as on date of
valuation:
Sale instances for the identical property
proximous to the property under valuation are not available with the office of
the sub registrar. However in order to ascertain the market value, section
32(A) of Bombay Stamp Act, 1958 is introduced. Under this section, Ready
Reckoner-Jantri showing guidelines for stamp duty valuation is prepared in the
year 1984, which was revised in 1992 by adding certain percentage in the rates
of the year 1984. Again revision is made in Jantri on adhoc basis and
implemented till 1999. Same Jantri is extended, modified and revised in 2008.
Subsequently Revenue Department of Government of Gujarat has passed resolution
for new Jantri which is implemented from 18.04.2011.
Value of the property as per present Jantri
[Annual Statement of Rates]
Value of the property: 700.00 sq. mts X Rs.0.044
Million = 30.800 Millions
Annual statement of rates of 2011 Jantri rate
is on too much lower side. This value does not include many factors some of
them are exact location. Quality of development of surrounding area. Quantum
and quality of internal and external infrastructure facilities
Without prejudice, express my opinion that the
market value of the said property by adopting prevailing market rate for land
and building with existing conditions and specification as explained earlier in
this report is Rs.45.500 Millions.
Note: Surat and surrounding area is experiencing a
spurt in the prices of the property i.e. land and building. This trend may or
may not continue. It is solicited that fresh valuation report be obtained
whenever need arise to known the right value of the said property.
Value For Insurance Purpose:
If the property is to be insured for natural
calarnity like earthquake, fire, etc. It is to be insured for reinstatement
cost i.e. compensation amount to be recovered from insurance company.
Value
for Insurance Purpose = Rs.15.000 Millions
Summary of Valuation of the Property:
Registrar Office
[Value as per annual statement of rates: Jantri]
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its
beneficial owners, controlling shareholders or senior officers as terrorist or
terrorist organization or whom notice had been received that all financial
transactions involving their assets have been blocked or convicted, found
guilty or against whom a judgement or order had been entered in a proceedings
for violating money-laundering, anti-corruption or bribery or international
economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the
property or assets of the subject are derived from criminal conduct or a
prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No
record exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.