MIRA INFORM REPORT
|
Report Date : |
25.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
DOVETAIL FURNITURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Block No. 240/B, Bommasandra Industrial Area, Hosur Road, Anekal Taluk,
Bangalore – 560099, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.09.1994 |
|
|
|
|
Com. Reg. No.: |
08-016294 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.37.388 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U03610KA1994PTC016294 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRD00816E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD5139N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Designs, Builds and Delivers Furniture and Fixtures for Retail Spaces,
Institution and Homes. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Reserves of the companies are low. Borrowing recorded by the company
seems to be increasing. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company 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 – 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
N E W S
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 : |
Mr. Vinod |
|
Designation : |
Assistant Manager Finance |
|
Contact No.: |
91-80-27832430 |
|
Date : |
21.06.2014 |
LOCATIONS
|
Registered Office / Factory : |
Block No. 240/B, Bommasandra Industrial Area, Hosur Road, Anekal Taluk,
Bangalore – 560099, Karnataka, India |
|
Tel. No.: |
91-80-27832430 |
|
Fax No.: |
91-80-27831516 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Sundar Subramanian |
|
Designation : |
Managing Director |
|
Address : |
456, 3rd Block, Koramangala, |
|
Date of Birth/Age : |
13.09.1960 |
|
Date of Appointment : |
22.09.1994 |
|
DIN No.: |
00506793 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36100KA1985PTC006938 |
STUDIO LINE
INTERIOR SYSTEMS PRIVATE LIMITED |
Whole-time
director |
28/05/1985 |
28/05/1985 |
Amalgamated |
NO |
|
2 |
U03610KA1994PTC016294 |
DOVETAIL
FURNITURE PRIVATE LIMITED |
Managing
director |
22/09/1994 |
22/09/1994 |
Active |
NO |
|
Name : |
Mr. John Mathew Palliath |
|
Designation : |
Director |
|
Address : |
Sno. 41, Bhoothanahalli, Banner Ghatta Post, |
|
Date of Birth/Age : |
24.07.1957 |
|
Date of Appointment : |
22.09.1994 |
|
DIN No.: |
01548573 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36100KA1985PTC006938 |
STUDIO LINE INTERIOR
SYSTEMS PRIVATE LIMITED |
Whole-time
director |
28/05/1985 |
28/05/1985 |
Amalgamated |
NO |
|
2 |
U03610KA1994PTC016294 |
DOVETAIL
FURNITURE PRIVATE LIMITED |
Director |
22/09/1994 |
22/09/1994 |
Active |
NO |
|
3 |
U17100KA2009PTC049417 |
ARIASPHERE
TEXTILES INDIA PRIVATE LIMITED |
Director |
30/03/2011 |
30/03/2011 |
Active |
NO |
|
Name : |
Mr. Mahendran Balachandran |
|
Designation : |
Director |
|
Address : |
301- F, Block 3, Raheja Residency, Koramangala, |
|
Date of Birth/Age : |
04.12.1964 |
|
Date of Appointment : |
10.12.2007 |
|
DIN No.: |
00121640 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U72200KA2006PTC038661 |
POSITION2
MARKETING PRIVATE LIMITED |
Director |
03/03/2006 |
03/03/2006 |
17/12/2012 |
Active |
NO |
|
2 |
U67190KA2006PTC038580 |
ERASMIC
INVESTMENT VENTURES PRIVATE LIMITED |
Director |
31/03/2006 |
31/03/2006 |
- |
Active |
NO |
|
3 |
U72200KA2007PTC041364 |
VIRIDENT SYSTEMS
PRIVATE LIMITED |
Director |
03/01/2007 |
03/01/2007 |
04/05/2009 |
Active |
NO |
|
4 |
U03610KA1994PTC016294 |
DOVETAIL
FURNITURE PRIVATE LIMITED |
Director |
10/12/2007 |
10/12/2007 |
- |
Active |
NO |
|
5 |
U74140KA2007PTC043095 |
INBIOPRO
SOLUTIONS PRIVATE LIMITED |
Nominee director |
22/12/2007 |
22/12/2007 |
24/11/2010 |
Active |
NO |
|
6 |
U72900KA2008PTC047489 |
ACCEL INDIA
MANAGEMENT COMPANY PRIVATE LIMITED |
Director |
19/08/2008 |
19/08/2008 |
- |
Active |
NO |
|
7 |
U73100KA2009PTC051875 |
MITRA BIOTECH
PRIVATE LIMITED |
Director |
31/03/2010 |
31/03/2010 |
- |
Active |
NO |
|
8 |
U72300DL2007PTC166730 |
VINCULUM
SOLUTIONS PRIVATE LIMITED |
Nominee director |
27/10/2010 |
27/10/2010 |
- |
Active |
NO |
|
9 |
U72200KA2010PTC055336 |
TRIVONE DIGITAL
SERVICES PRIVATE LIMITED |
Additional
director |
01/12/2011 |
01/12/2011 |
- |
Active |
NO |
|
10 |
U72200KA2011PTC060488 |
ENTERPRISE NUBE
SERVICES PRIVATE LIMITED |
Director |
05/03/2012 |
05/03/2012 |
24/04/2014 |
Active |
NO |
|
11 |
U92412TG2012PTC080470 |
UNIVERSAL
SPORTSBIZ PRIVATE LIMITED |
Director |
01/08/2012 |
01/08/2012 |
- |
Active |
NO |
|
12 |
U74900DL2012PTC230723 |
BEBB INDIA
PRIVATE LIMITED |
Nominee director |
28/06/2013 |
28/06/2013 |
- |
Active |
NO |
|
13 |
U73100KA2013PTC070233 |
THERAMYT
NOVOBIOLOGICS PRIVATE LIMITED |
Nominee director |
23/09/2013 |
23/09/2013 |
- |
Active |
NO |
|
14 |
U85300KA2013PTC069291 |
HEALTHVISTA
INDIA PRIVATE LIMITED |
Additional
director |
20/01/2014 |
20/01/2014 |
- |
Active |
NO |
|
15 |
AAC-0263 |
ERASMIC
INVESTMENT ADVISORS LLP |
Designated
Partner |
24/01/2014 |
24/01/2014 |
- |
Active |
NO |
|
16 |
AAC-1038 |
ACCEL PARTNERS
INDIA LLP |
Designated
Partner |
19/02/2014 |
19/02/2014 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Vinod |
|
Designation : |
Assistant Manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
Sundar Subramanian |
668 |
25.18 |
|
John Mathew Palliath |
658 |
24.80 |
|
Anand Aurora |
658 |
24.80 |
|
Jacob Mathew Palliath |
668 |
25.18 |
|
Erasmic Ventures Fund Limited,
Mauritius |
1 |
0.04 |
|
TOTAL |
2,653 |
100.00 |
|
Name
of Preference Shareholders |
No.
of Shares |
%age |
|
Erasmic Ventures Fund Limited,
Mauritius |
360 |
100.00 |
|
TOTAL |
360 |
100.00 |
AS ON 27.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s), Foreign companie(s)
Foreign financial institution(s), Non-resident Indian(s) or Overseas
Corporate bodies or Others |
0.04 |
|
Directors or relatives of Directors |
75.16 |
|
Other top fifty shareholders |
24.80 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Designs, Builds and Delivers Furniture and Fixtures for Retail Spaces,
Institution and Homes. |
||||
|
|
|
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|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Machinery |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, Credit |
||||
|
|
|
||||
|
Purchasing : |
L/C, Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chavan Associates Chartered Accountants |
|
Address : |
Khivraj Mansion, 10/2, Kasturba Road, Bangalore-560001, Karnataka,
India |
|
PAN No.: |
AAHPC2612H |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs. 0.500 Million |
|
360 |
Convertible Cumulative Preference Shares |
Rs.103120/- each |
Rs. 37.123 Millions |
|
|
TOTAL |
|
Rs. 37.623
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2653 |
Equity Shares |
Rs.100/-
each |
Rs. 0.265
Million |
|
360 |
Convertible Cumulative Preference Shares |
Rs.103120/- each |
Rs. 37.123 Millions |
|
|
TOTAL |
|
Rs. 37.388 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
37.388 |
37.389 |
37.389 |
|
(b) Reserves & Surplus |
28.041 |
26.452 |
24.871 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
65.429 |
63.841 |
62.26 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
14.511 |
0.095 |
3.344 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
14.511 |
0.095 |
3.344 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
34.141 |
27.229 |
22.181 |
|
(b) Trade payables |
20.283 |
30.566 |
26.295 |
|
(c) Other current liabilities |
33.423 |
20.983 |
11.390 |
|
(d) Short-term provisions |
6.714 |
8.291 |
6.454 |
|
Total
Current Liabilities (4) |
94.561 |
87.069 |
66.320 |
|
|
|
|
|
|
TOTAL |
174.501 |
151.005 |
131.924 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
41.268 |
33.642 |
35.447 |
|
(ii) Intangible Assets |
3.900 |
3.700 |
3.700 |
|
(iii) Capital work-in-progress |
0.000 |
1.839 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.900 |
1.232 |
11.729 |
|
(c) Deferred tax assets (net) |
6.107 |
7.097 |
7.709 |
|
(d) Long-term Loan and
Advances |
1.524 |
2.120 |
2.423 |
|
(e) Other Non-current assets |
5.081 |
5.830 |
4.441 |
|
Total
Non-Current Assets |
58.780 |
55.460 |
65.449 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
31.642 |
25.564 |
17.058 |
|
(c) Trade receivables |
56.459 |
54.031 |
42.133 |
|
(d) Cash and cash equivalents |
18.525 |
5.434 |
1.590 |
|
(e) Short-term loans and
advances |
9.095 |
10.516 |
5.694 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
115.721 |
95.545 |
66.475 |
|
|
|
|
|
|
TOTAL |
174.501 |
151.005 |
131.924 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
199.708 |
204.962 |
186.947 |
|
|
Other Income |
1.855 |
1.385 |
2.457 |
|
|
TOTAL |
201.563 |
206.347 |
189.404 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Goods Sold |
|
|
|
|
|
Trading Expenses |
|
|
|
|
|
Manufacturing Expenses |
|
|
|
|
|
Marketing and Service Expenses |
|
|
|
|
|
TOTAL |
194.384 |
199.477 |
178.850 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.179 |
6.870 |
10.554 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
3.996 |
4.267 |
4.388 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3.183 |
2.603 |
6.166 |
|
|
|
|
|
|
|
Less |
TAX |
1.595 |
1.021 |
0.832 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1.588 |
1.582 |
5.334 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Sales |
0.000 |
0.249 |
0.000 |
|
|
Advance Received |
0.000 |
0.059 |
0.000 |
|
|
TOTAL
EARNINGS |
0.000 |
0.308 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.324 |
0.027 |
0.000 |
|
|
Plant and Machinery |
0.000 |
0.020 |
0.000 |
|
|
TOTAL
IMPORTS |
0.324 |
0.047 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
527.00 |
864.00 |
2046.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
PAT / Total Income |
(%) |
0.79 |
0.77 |
2.82 |
|
|
|
|
|
|
|
|
|
Net Profit Margin |
(%) |
1.59 |
1.39 |
3.30 |
|
|
|
|
|
|
|
|
|
Return on Total Assets |
(%) |
1.90 |
1.85 |
5.48 |
|
|
|
|
|
|
|
|
|
Return on Investment (ROI) |
|
0.05 |
0.04 |
0.10 |
|
|
|
|
|
|
|
|
|
Debt Equity Ratio |
|
0.74 |
0.43 |
0.41 |
|
|
|
|
|
|
|
|
|
Current Ratio |
|
1.22 |
1.10 |
1.00 |
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
37.389 |
37.389 |
37.388 |
|
Reserves & Surplus |
24.871 |
26.452 |
28.041 |
|
Net
worth |
62.260 |
63.841 |
65.429 |
|
|
|
|
|
|
long-term borrowings |
3.344 |
0.095 |
14.511 |
|
Short term borrowings |
22.181 |
27.229 |
34.141 |
|
Total
borrowings |
25.525 |
27.324 |
48.652 |
|
Debt/Equity
ratio |
0.410 |
0.428 |
0.744 |
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
186.947 |
204.962 |
199.708 |
|
|
|
9.636 |
(2.563) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
(INR) |
|
Sales |
186.947 |
204.962 |
199.708 |
|
Profit |
5.334 |
1.582 |
1.588 |
|
|
2.85% |
0.77% |
0.80% |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
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 |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Loans from Related Parties |
0.095 |
0.095 |
|
Short Term
Borrowings |
|
|
|
Financial Institutions |
4.788 |
0.000 |
|
|
|
|
|
TOTAL |
4.883 |
0.095 |
INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10124578 |
28/03/2014 * |
62,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, INDIAN EXPRESS BUILDING, 2ND FLOOR,
QUEEN'S ROAD, BANGALORE, KARNATAKA - |
C04092094 |
|
2 |
90195905 |
26/09/2005 |
4,000,000.00 |
UTI BANK LIMITED |
M.G. ROAD BRANCH, M.G. ROAD, BANGLORE, KARNATAKA |
- |
|
3 |
80028512 |
21/01/2013 * |
47,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, EXPRESS BUILDING, SECOND FLOOR,
NO.1, QUEEN'S ROAD, BANGALORE, KARNATAKA |
B69682581 |
|
4 |
80028522 |
28/03/2007 * |
33,000,000.00 |
UTI BANK LIMITED |
ESQUIRE CENTRE, NO.9, M G ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
5 |
80041223 |
10/05/2007 * |
10,500,000.00 |
AXIS BANK LIMITED |
"ESQUIRE CENTRE",, NO.9, M.G.ROAD,, BANGALORE, KARNATAKA - 560001, INDIA |
A32560039 |
|
6 |
90195572 |
12/04/2001 |
2,000,000.00 |
INDINA OVERSEAS BANK |
KORAMANGALA BRANCH, BANGLORE, KARNATAKA, INDIA |
- |
|
7 |
90197876 |
17/10/2003 * |
600,000.00 |
INDIAN OVERSEAS BANK |
310/6; HR COMPLEX, INDUSTRIAL MAIN ROAD; V BLOCK; |
- |
|
8 |
90200567 |
10/07/2003 * |
600,000.00 |
INDIAN OVERSEAS BANK |
310/6; HR COMPLEX; INDUSTRIAL MAIN ROAD, V; BLOCK |
- |
|
9 |
90197870 |
12/12/2000 |
600,000.00 |
INDIAN OVERSEAS BANK |
310/6; HR COMPLEX, INDUSTRIAL MAIN ROAD; V BLOCK; |
- |
|
10 |
90195531 |
24/08/2000 |
130,000.00 |
VIJAYA BANK |
TRINITY CIRCLE BRANCH, BANGLORE, KARNATAKA, INDIA |
- |
|
11 |
90197779 |
26/06/2000 |
700,000.00 |
VIJAYA BANK |
TRINITY CIRCLE BRANCH, PRIMROSE ROAD, BANGALORE, |
- |
|
12 |
90200507 |
26/06/2000 |
600,000.00 |
INDIAN OVERSEAS BANK |
310/6; HR LOUPLARA INDUSTRIAL MAIN ROAD, V BLOCK; BANGALORE, KARNATAKA - 560095, INDIA |
- |
|
13 |
90193560 |
20/09/1990 |
200,000.00 |
VIJAYA BANK |
TRINITY CIRCLE BRANCH, M.G. ROAD, BANGLORE, KARNATAKA - 560001, INDIA |
- |
|
14 |
90194906 |
04/12/1992 * |
75,000.00 |
VIJAYA BANK |
M.G. ROAD, BANGLORE, KARNATAKA - 560001, INDIA |
- |
|
* Date of charge modification |
||||||
CORPORATE
INFORMATION
This company is carrying on the business of designing, consultancy and
manufacturer of furniture. This is a small and medium sized company.
REVIEW OF
OPERATIONS
The gross turnover of the company has decreased marginally compared to
previous year whereas the net profit has increased. The Directors are hopeful
of good results in the coming year.
FIXED ASSETS
- Goodwill
- Land
- Building
- Plant and
Machinery
- Office
Equipment
- Vehicles
- Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.10 |
|
|
1 |
Rs. 102.32 |
|
Euro |
1 |
Rs. 81.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
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 |
|
30 |
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.