MIRA INFORM REPORT
|
Report Date : |
21.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
TEJAS JEWELS |
|
|
|
|
Registered
Office : |
2202, Sovereign, Hiranandani Gardens, Powai, Mumbai-400076,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.07.2011 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.860 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHFT0902B |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturing and Trading in Gold and Silver Ornaments |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
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 partnership concern having moderate track
record. Profitability of the concern seems to be slow. Trade relations are
reported to be fair. Business is active. Payment terms are reported to be
slow but correct. The concern can be considered normal for business dealing with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in
September 2013 indicated that banks would need 800000 people in the next six
years. It estimated that state-run lenders alone would hire 50000 people in
2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in matters
where it decides to carry out detailed investigations. The number of complaints
received by the watchdog which keeps tabs on unfair trade practices in the
marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
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 : |
Account Department |
|
Contact No.: |
91-22-67085549 |
|
Date : |
18.03.2014 |
LOCATIONS
|
Registered Office : |
2202, Sovereign, Hiranandani Gardens, Powai, Mumbai-400076,
Maharashtra, India |
|
Tel. No.: |
91-22-25701379 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Balasaheb Abasaheb Kadam |
|
Designation : |
Partner |
|
Address : |
2202, Sovereign, Hiranandani Gardens, Powai, Mumbai-400076,
Maharashtra, India |
|
Date of Birth/Age : |
17.06.1954 |
|
Qualification : |
MBA and Engineer |
|
Experience : |
27 Years |
|
|
|
|
Name : |
Mr. Nitin Eknath Dahale |
|
Designation : |
Partner |
|
Address : |
Flat No. A2-2, S. No. 19/2/1, Sainagar, Satavwadi / Hadapsar,
Pune-411080, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1968 |
|
Qualification : |
BSC and MBA |
|
Experience : |
2 Years |
|
Pan No.: |
ABUPD4707C |
|
|
|
|
Name : |
Mr. Ujwal Manohar Ghorpade |
|
Designation : |
Partner |
|
Address : |
307/33, Gokhale Nagar, Pune-411016, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1970 |
|
Qualification : |
BSC and MCM |
|
Experience : |
1 Year |
KEY EXECUTIVES
|
Name : |
Ms. Sonica |
|
Designation : |
Account Department |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading in Gold and Silver Ornaments |
|
|
|
|
Terms : |
|
|
Selling : |
Credit [60 Days] |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Suppliers : |
|
|
|
|
|
Customers : |
Wholesalers and Retailers
|
|
|
|
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
The Kalyan Janata Sahakari Bank Limited |
|
|
|
|
Facilities : |
Credit Limit: Rs.50.000
Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
GSV and Company Chartered Accountants |
|
Address : |
110 and 1st Floor, 21t Century Business Centre, Ring Road,
Surat-395002, Gujarat, India |
|
Tel. No.: |
91-261-4003090 |
|
|
|
|
Auditors 2 : |
|
|
Name : |
A V Dabake and Company Chartered Accountants |
|
Address : |
“Snehankit” S. No. 20, Plot No. 55, Patwardhan Baug, Erandawana,
Pune-411004, Maharashtra, India |
|
Mobile No.: |
91-9922117224 |
|
|
|
|
Sister Concern : |
Address: 2202,
Sovereign, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India Line
of Business: Manufacturer, Exporter and Reseller of Gold/Silver/Ornaments
Address: Office No. 13,
Mumbadevi Chambers, Zaveri Bazaar, Shaikh Memon Street, Mumbai-400002,
Maharashtra, India Line
of Business: Manufacturer, Exporter and Reseller of Gold/Silver/Ornaments
Address: 2202,
Sovereign, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India Line
of Business: Manufacturer, Exporter and Reseller of Gold/Silver/Ornaments |
CAPITAL STRUCTURE
AS ON 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs. 30.860 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 30.860 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
30.860 |
29.284 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
30.860 |
29.284 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
50.589 |
50.616 |
|
|
2] Unsecured Loans |
|
7.525 |
5.540 |
|
|
TOTAL BORROWING |
|
58.114 |
56.156 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
88.974 |
85.440 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.500 |
0.499 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
4.668 |
13.187 |
|
|
Sundry Debtors |
|
147.771 |
87.301 |
|
|
Cash & Bank Balances |
|
0.011 |
0.171 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.074 |
0.000 |
|
Total
Current Assets |
|
152.524 |
100.659 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
62.975 |
15.597 |
|
|
Other Current Liabilities |
|
0.260 |
0.121 |
|
|
Provisions |
|
0.815 |
0.000 |
|
Total
Current Liabilities |
|
64.050 |
15.718 |
|
|
Net Current Assets |
|
88.474 |
84.941 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
88.974 |
85.440 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
677.168 |
87.591 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL |
|
677.168 |
87.591 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
663.996 |
82.628 |
|
|
|
Direct expenses |
|
1.005 |
1.053 |
|
|
|
Accountancy charges |
|
0.015 |
0.000 |
|
|
|
Audit fees |
|
0.025 |
0.025 |
|
|
|
Bank charges |
|
0.011 |
0.008 |
|
|
|
Conveyance charges |
|
0.144 |
0.015 |
|
|
|
Diwali gift |
|
0.019 |
0.000 |
|
|
|
Electricity charges |
|
0.031 |
0.000 |
|
|
|
Insurance charges |
|
0.021 |
0.028 |
|
|
|
Interest on loan |
|
7.039 |
1.762 |
|
|
|
Loan processing charges |
|
0.183 |
0.500 |
|
|
|
Mortgage charges |
|
0.000 |
0.050 |
|
|
|
Postage and telegram |
|
0.003 |
0.003 |
|
|
|
Printing and stationery |
|
0.033 |
0.008 |
|
|
|
Professional charges |
|
0.022 |
0.754 |
|
|
|
Salary |
|
2.203 |
0.072 |
|
|
|
Telephone charges |
|
0.025 |
0.000 |
|
|
|
Provision for tax 2012-2013 |
|
0.815 |
0.000 |
|
|
|
Rent, rate and taxes |
|
0.000 |
0.042 |
|
|
|
TOTAL |
|
675.590 |
86.948 |
|
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) |
|
1.578 |
0.643 |
|
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
0.23 |
0.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.23 |
0.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.03 |
0.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.05 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.88 |
1.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.38 |
6.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
|
29.284 |
30.860 |
|
Reserves & Surplus |
|
0.000 |
0.000 |
|
Net worth |
|
29.284 |
30.860 |
|
|
|
|
|
|
Secured Loan |
|
50.616 |
50.589 |
|
Unsecured Loan |
|
5.540 |
7.525 |
|
Total borrowings |
|
56.156 |
58.114 |
|
Debt/Equity ratio |
|
1.918 |
1.883 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
|
87.591 |
677.168 |
|
|
|
673.102 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
|
87.591 |
677.168 |
|
Profit |
|
0.643 |
1.578 |
|
|
|
0.73% |
0.23% |
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two 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 |
Yes |
|
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 |
No |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT OF
MR. UJWAL MANOHAR
GHORPADE
(RS. IN MILLIONS)
|
PARTICULAR |
AMOUNT |
|
Immovable Property |
|
|
Land (The Said Property is Mortgaged with
The Kalyan Janata Sahakari Bank Limited) |
22.722 |
|
Residential House |
2.150 |
|
NET ASSETS /
NETWORTH |
24.872 |
------------------------------------------------------------------------------------------------------------------------------
|
Borrower’s / Guarantor’s Name |
Mr. Nitin Eknath Dahale |
|
|
|
|
Father Name |
Eknath Shankarrao Dahale |
|
|
|
|
Present Address |
Flat No. A2-2, S. No. 19/2/1, Sainagar, Satavwadi / Hadapsar,
Pune-411080, Maharashtra, India |
|
|
|
|
Age / Date of Birth |
25/12/1968 [45 Years] |
|
|
|
|
Nationality |
Indian |
|
|
|
|
Sex |
Male |
|
|
|
|
Educational Qualification |
BSC and MBA |
|
|
|
|
Occupation |
Business |
|
|
|
|
Annual Income |
Rs.0.410 Million [For FY 2011-12] |
|
|
|
|
Pan No. |
ABUPD4707C |
DETAILS OF ASSETS:
IMMOVABLE PROPERTY
Rs. In Millions
|
ASSETS |
LOCATION / ADDRESS |
PRESENT VALUE |
WHETHER
ENCUMBERED |
|
Non Agriculture Land |
|
|
|
|
Office at Nashik |
Nashik |
0.218 |
No |
|
Office Building |
|
1.774 |
No |
|
Office Building [Let Out] |
|
1.672 |
No |
|
Office Equipment |
|
0.040 |
No |
|
Furniture and Fixtures |
|
0.339 |
No |
|
|
|
4.043 |
|
Whether Self-Occupied / Rented / Leased Out: Self Occupied
MOVABLE PROPERTY:
SHARES / DEBENTURES / MUTUAL FUND, ETC.
Rs. In Millions
|
NAME OF COMPANY |
CURRENT MARKET
VALUE |
|
Pune Sahakari Bank Limited |
0.010 |
|
Shivajirao Bhosale Bank |
0.063 |
|
Sopankaka Sahakari Bank |
(0.027) |
|
Suzlon Shares |
0.030 |
VEHICLES:
Rs. In Millions
|
NAME OF VEHICLE |
PRESENT VALUE |
|
Car Maruti Balno |
0.178 |
|
Maruti Car |
0.100 |
|
Maruti Van |
0.023 |
OTHER INVESTMENT / ASSETS:
Other Current Assets: Rs.0.810 Million
[Including Subsidiaries, Sister, Associate Concern]. If Trust/Society
Cash and Bank: Rs.0.167 Million
Total Assets: Rs.5.397 Millions
LIABILITIES:
Rs. In Millions
|
BORROWED FROM |
OUTSTANDING
BALANCE |
|
Secured Loan |
(1.575) |
|
Unsecured Loan |
6.216 |
|
Bank OD |
(2.290) |
|
Current Liabilities |
2.053 |
|
Total Liabilities |
4.404 |
|
Total Assets |
5.397 |
|
Networth |
0.992 |
------------------------------------------------------------------------------------------------------------------------------
PROVISIONAL BALANCE SHEET AS ON 28.02.2014
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
28.02.2014 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
|
34.996 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
34.996 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
60.671 |
|
|
2] Unsecured Loans |
|
|
137.202 |
|
|
TOTAL BORROWING |
|
|
197.873 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
232.869 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.500 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
11.344 |
|
|
Sundry Debtors |
|
|
413.207 |
|
|
Cash & Bank Balances |
|
|
0.140 |
|
|
Other Current Assets |
|
|
0.073 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
424.764 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
192.370 |
|
|
Other Current Liabilities |
|
|
0.025 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
192.395 |
|
|
Net Current Assets |
|
|
232.369 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
232.869 |
|
PROVISIONAL PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
|
28.02.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
609.438 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
|
|
609.438 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
|
595.813 |
|
|
|
Direct expenses |
|
|
0.680 |
|
|
|
Bank charges |
|
|
0.035 |
|
|
|
Conveyance |
|
|
0.009 |
|
|
|
Franking charges |
|
|
0.001 |
|
|
|
Electricity charges |
|
|
0.016 |
|
|
|
Insurance charges |
|
|
0.004 |
|
|
|
Interest on CC |
|
|
6.841 |
|
|
|
Loan processing charges |
|
|
0.216 |
|
|
|
Printing and stationery |
|
|
0.002 |
|
|
|
Professional fees |
|
|
0.010 |
|
|
|
Salary |
|
|
1.666 |
|
|
|
Stock audit fees |
|
|
0.004 |
|
|
|
Telephone charges |
|
|
0.005 |
|
|
|
TOTAL |
|
|
605.302 |
|
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) |
|
|
4.136 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
28.02.2014 |
|
PAT / Total Income |
(%) |
|
|
0.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
5.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.21 |
------------------------------------------------------------------------------------------------------------------------------
OPERATING STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
ESTIMATE |
PROJECTION |
PROJECTION |
|
|
|
|
|
|
Gross Sales |
|
|
|
|
Domestic Sales |
744.885 |
819.373 |
901.311 |
|
Export Sales |
0.000 |
0.000 |
0.000 |
|
Total |
744.885 |
819.373 |
901.311 |
|
Less: Excise Duty/WCT |
0.000 |
0.000 |
0.000 |
|
Net Sales |
744.885 |
819.373 |
901.311 |
|
|
|
|
|
|
% age rise (+) or fall (-) in
net sales compared to previous year (annualized) |
10.00% |
10.00% |
10.00% |
|
|
|
|
|
|
Cost of Sales |
|
|
|
|
Raw Material Consumed |
|
|
|
|
-
Imported |
755.525 |
799.577 |
879.785 |
|
-
Domestic |
0.000 |
0.000 |
0.000 |
|
Other trading expenses
[Process charges, carriage inward, comm, and brokerage on purchases. etc.] |
1.106 |
1.216 |
1.338 |
|
|
|
|
|
|
Sub-Total |
756.631 |
800.793 |
881.123 |
|
|
|
|
|
|
Add: Opening Stock in
process |
4.667 |
31.286 |
34.195 |
|
|
|
|
|
|
Sub Total |
761.298 |
832.079 |
915.318 |
|
|
|
|
|
|
Less: Closing stock in
process |
31.286 |
34.195 |
37.616 |
|
|
|
|
|
|
Sub-Total (Cost of
Production) |
730.012 |
797.884 |
877.702 |
|
|
|
|
|
|
Add: Opening Stock of
Finished Goods |
0.000 |
0.000 |
0.000 |
|
Subtotal |
730.012 |
797.884 |
877.702 |
|
|
|
|
|
|
Less: Closing Stock of
Finished Goods |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sub-Total (Cost of Sales) |
730.012 |
797.884 |
877.702 |
|
|
|
|
|
|
Selling, general and administrative
Expenses |
3.693 |
4.062 |
4.468 |
|
|
|
|
|
|
Operating profit before interest |
11.181 |
17.427 |
19.141 |
|
|
|
|
|
|
Interest |
6.233 |
9.725 |
9.725 |
|
|
|
|
|
|
Depreciation |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Operating profit after
interest and depreciation |
4.948 |
7.702 |
9.416 |
|
|
|
|
|
|
Add: Other Non-Operating Income |
|
|
|
|
-
Foreign Exchange Diff. |
0.000 |
0.000 |
0.000 |
|
-
Dividend Received |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sub-Total (Income) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net of Other Non-Operating
Income/Expenses |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Profit before tax/Loss |
4.948 |
7.702 |
9.416 |
|
|
|
|
|
|
Less: Provision for taxes |
1.529 |
2.380 |
2.909 |
|
|
|
|
|
|
Net Profit |
3.419 |
5.322 |
6.506 |
|
|
|
|
|
|
Retained Profit |
3.419 |
5.322 |
6.506 |
|
|
|
|
|
|
Retained Profit / Net Profit
(% age) |
100% |
100% |
100% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
ESTIMATE |
PROJECTION |
PROJECTION |
|
CURRENT
LIABILITIES |
|
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
From applicant Banks |
25.000 |
25.000 |
25.000 |
|
From Other Banks |
50.000 |
50.000 |
50.000 |
|
|
|
|
|
|
Sub
Total (A) |
75.000 |
75.000 |
75.000 |
|
|
|
|
|
|
Short Term Borrowings from others |
|
|
|
|
Sundry creditors [Trade] |
68.991 |
73.013 |
80.338 |
|
Sundry creditors [Expenses] |
0.000 |
0.000 |
0.000 |
|
Advance payments from customers/ deposits from dealers |
0.000 |
0.000 |
0.000 |
|
Provision of taxes |
1.529 |
2.380 |
2.909 |
|
Dividend Payable |
0.000 |
0.000 |
0.000 |
|
Other Statutory Liabilities (Due within one year) |
0.000 |
0.000 |
0.000 |
|
Deposits/ Installments of Term/ loans/DPGs/Debentures etc. (Due within one year) |
0.000 |
0.000 |
0.000 |
|
Other current liabilities and provision (Due within one year) |
0.265 |
0.270 |
0.275 |
|
|
|
|
|
|
Sub
– Total (B) |
145.785 |
150.663 |
158.522 |
|
|
|
|
|
|
Total
Current Liabilities |
145.785 |
150.663 |
158.522 |
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
Debentures (Not Maturing within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Preferences Shares (Redeemable after one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Prop. Term Loan excluding installments < 1 year |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Term Loans (Excluding Installment) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Deferred Installment (Due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Term deposit (repayable one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Term Liabilities |
15.000 |
15.000 |
15.000 |
|
|
|
|
|
|
Total
Term Liabilities |
15.000 |
15.000 |
15.000 |
|
Total
of Outside Liabilities |
160.785 |
165.663 |
173.522 |
|
|
|
|
|
|
Net
Worth |
|
|
|
|
Share Capital Account |
28.640 |
28.640 |
28.640 |
|
General Reserve |
2.221 |
5.640 |
10.962 |
|
Shares Premium Account |
0.000 |
0.000 |
0.000 |
|
Plus (+) or deficit (-) in Profit and Loss Account others (Specify) |
3.419 |
5.322 |
6.506 |
|
Differed Tax Liability |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net Worth |
34.280 |
39.602 |
46.108 |
|
|
|
|
|
|
TOTAL LIABILITIES |
195.065 |
205.265 |
219.630 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.050 |
0.070 |
0.080 |
|
|
|
|
|
|
Fixed deposit with bank |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Receivable Other than Exports |
112.648 |
119.415 |
129.834 |
|
|
|
|
|
|
Installment of deferred receivable (due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
INVENTORY: |
|
|
|
|
Raw materials (including
stores and other item used in the process of manufacturing) |
|
|
|
|
Imported |
50.500 |
51.000 |
51.500 |
|
Indigenous |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Stock – in – process |
0.000 |
0.000 |
0.000 |
|
Finished Goods |
31.286 |
34.195 |
37.616 |
|
|
|
|
|
|
Other Consumable Spares |
|
|
|
|
Imported Consumables |
0.000 |
0.000 |
0.000 |
|
Indigenous Consumables |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Advance to Suppliers of Raw materials and stores and
spares |
|
|
|
|
Advances Payments Taxes |
0.000 |
0.000 |
0.000 |
|
Other current assets (specify major items ) |
0.080 |
0.085 |
0.100 |
|
Finished Goods |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
194.565 |
204.765 |
219.130 |
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
Gross Block |
0.000 |
0.000 |
0.000 |
|
Depreciation to date |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
NET
BLOCK |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Investment/ books debts/ advances/ exposits which are not
current assets |
0.000 |
0.000 |
0.000 |
|
Investment in subsidiary company |
0.000 |
0.000 |
0.000 |
|
Others Investment |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Others
Debtors (6 month) |
|
|
|
|
Security Deposits |
0.000 |
0.000 |
0.000 |
|
Others |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
TOTAL
OTHER NON – CURRENT ASSETS |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
Intangible assets |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL
ASSETS |
195.065 |
205.265 |
219.630 |
|
|
|
|
|
|
Tangible Net Worth |
34.280 |
39.602 |
46.108 |
|
|
|
|
|
|
Net Working Capital |
48.780 |
54.102 |
60.608 |
|
|
|
|
|
|
Current Ratio |
1.33 |
1.36 |
1.38 |
|
|
|
|
|
|
Total Outside Liabilities/TNW |
4.69 |
4.18 |
3.76 |
|
|
|
|
|
|
Quasi |
2.96 |
2.76 |
2.59 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF CURRENT ASSETS AND
CURRENT LIABILITIES
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
ESTIMATE |
PROJECTION |
PROJECTION |
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.050 |
0.070 |
0.080 |
|
|
|
|
|
|
Fixed deposit with bank |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Receivable Other than Exports |
112.648 |
119.415 |
129.834 |
|
|
|
|
|
|
Installment of deferred receivable (due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
INVENTORY: |
|
|
|
|
Raw materials
(including stores and other item used in the process of manufacturing) |
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
|
Indigenous |
50.500 |
51.000 |
51.500 |
|
|
|
|
|
|
Stock – in – process |
0.000 |
0.000 |
0.000 |
|
Finished Goods |
31.286 |
34.195 |
37.616 |
|
|
|
|
|
|
Other Consumable Spares |
|
|
|
|
Imported Consumables |
0.000 |
0.000 |
0.000 |
|
Indigenous Consumables |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Advance to Suppliers of Raw materials and stores and
spares |
0.000 |
0.000 |
0.000 |
|
Advances Payments Taxes |
0.000 |
0.000 |
0.000 |
|
Other current assets (specify major items ) |
0.080 |
0.085 |
0.100 |
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
194.565 |
204.765 |
219.130 |
|
|
|
|
|
|
CURRENT
LIABILITIES (other than bank borrowings for working capital) |
|
|
|
|
|
|
|
|
|
Short term borrowings from others |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Sundry Creditors – Trade LC Creditors |
68.991 |
73.013 |
80.338 |
|
|
|
|
|
|
Advance payments from customers/deposit from dealers |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Provision for tax |
1.529 |
2.380 |
2.909 |
|
|
|
|
|
|
Dividend payable |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other statutory liabilities (due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Deposits/Installments of term loan/DPGs/Debentures, etc.
(due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other current liabilities and provision (due within one
year) |
0.265 |
0.270 |
0.275 |
|
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
70.785 |
75.663 |
83.522 |
------------------------------------------------------------------------------------------------------------------------------
FUNDS FLOW STATEMENT
(RS IN MILLIONS)
|
PARTICULARS |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
ESTIMATE |
PROJECTION |
PROJECTION |
|
|
|
|
|
|
SOURCES OF FUNDS
|
|
|
|
|
|
|
|
|
|
Net Profit (after deferred tax) |
3.419 |
5.322 |
6.506 |
|
Depreciation |
0.000 |
0.000 |
0.000 |
|
Increase in share capital/appln./premium |
0.000 |
0.000 |
0.000 |
|
Increase in term liabilities (including public deposits) |
0.000 |
0.000 |
0.000 |
|
Increase in Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Decrease in |
0.000 |
0.000 |
0.000 |
|
Fixed assets and capital WIP |
0.000 |
0.000 |
0.000 |
|
Other non-current assets |
0.000 |
0.000 |
0.000 |
|
Inc./(dec.) in deferred tax liability /
(asset) |
0.000 |
0.000 |
0.000 |
|
Other |
7.475 |
0.000 |
0.000 |
|
Current liabilities |
0.000 |
0.000 |
0.000 |
|
TOTAL |
10.894 |
5.322 |
6.506 |
|
|
|
|
|
|
USES |
|
|
|
|
Net loss |
0.000 |
0.000 |
0.000 |
|
Decrease in term liabilities (including public deposits) |
0.000 |
0.000 |
0.000 |
|
Increase in |
0.000 |
0.000 |
0.000 |
|
Fixed assets and capital WIP |
0.000 |
0.000 |
0.000 |
|
Other non-current assets |
0.000 |
0.000 |
0.000 |
|
Dividend payments |
0.000 |
0.000 |
0.000 |
|
Inc./(Dec.) in deferred tax assets/(liability) |
0.000 |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
0.000 |
|
Current Assets |
0.000 |
0.000 |
0.000 |
|
Drawings |
0.000 |
0.000 |
0.000 |
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Long term surplus (+) / Deficit (-) |
10.894 |
5.322 |
6.506 |
|
|
|
|
|
|
+ / (-) in current assets |
42.042 |
10.201 |
14.365 |
|
|
|
|
|
|
+ (-) in current liabilities other than bank
borrowings |
6.736 |
4.879 |
7.859 |
|
|
|
|
|
|
+ / (-) in working capital gap |
35.306 |
5.322 |
6.506 |
|
|
|
|
|
|
Net surplus (+) / deficit (-) (Differences
of) |
(24.412) |
0.000 |
0.000 |
|
|
|
|
|
|
+ / (-) in bank borrowings |
24.412 |
0.000 |
0.000 |
|
|
|
|
|
|
* Break Up of (4) |
|
|
|
|
+ / (-) in finished goods |
26.619 |
2.909 |
3.421 |
|
+ / (-) in Receivables |
|
|
|
|
- Domestic |
(35.123) |
6.767 |
10.419 |
|
- Export |
0.000 |
0.000 |
0.000 |
|
+ / (-) in stores and spares |
0.000 |
0.000 |
0.000 |
|
+ / (-) in other current assets |
50.545 |
0.525 |
0.525 |
|
TOTAL |
42.042 |
10.201 |
14.365 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF MAXIMUM PERMISSIBLE BANK
FINANCE FOR WORKING CAPITAL
(RS IN MILLIONS)
|
PARTICULARS |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
ESTIMATE |
PROJECTION |
PROJECTION |
|
|
|
|
|
|
Total Current Assets |
194.565 |
204.765 |
219.130 |
|
|
|
|
|
|
Other Current Liabilities (Other than bank borrowings) |
70.785 |
75.663 |
83.522 |
|
|
|
|
|
|
Working Capital Gap (WCG) |
123.780 |
129.102 |
135.608 |
|
|
|
|
|
|
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) |
48.641 |
51.191 |
54.783 |
|
|
|
|
|
|
Actual / projected net working capital (45
in form III) |
48.780 |
54.102 |
60.608 |
|
|
|
|
|
|
Item 3 minus item 4 |
75.139 |
77.911 |
80.826 |
|
|
|
|
|
|
Item 3 minus item 5 |
75.000 |
75.000 |
75.000 |
|
|
|
|
|
|
Maximum permissible bank finance (Item 6 or 7 whichever is lower) |
75.000 |
75.000 |
75.000 |
|
|
|
|
|
|
Excess Borrowing Representing Short falling
NWC |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
PART I
|
Purpose of Valuation |
For assessment of fair market value of the
property for bank purpose |
|
|
|
|
Date of Visit |
18/12/2013 |
|
|
|
|
Name of the Purchaser |
Tejas Jewels |
|
|
|
|
If the property is under joint ownership /
co-ownership, share of each such owner are the shares undivided? |
Company Ownership |
|
|
|
|
Brief description of property |
Plot of land bearing various Survey Nos
in Carino Casa Project, Near Tokawala
Naka, Khapri Village Hill Top, Post Tokawade, Malshet Murbad Road, Taluka
Murbad, District Thane 412402, Maharashtra |
|
|
|
|
Boundaries |
North: Hill View South: Malshet View East: Kalu Dam West: Khopari Village |
|
|
|
|
Location, Street, Ward No. |
Village Khapari, Taluka Murbad, District
Thane – 412 402, Maharashtra |
|
|
|
|
Survey/Ploy No. |
-- |
|
|
|
|
Is the property situated in residential /
commercial mixed area / industrial area? |
Residential Area (Bungalow Plot Scheme) |
|
|
|
|
Classification of locality – high class /
middle class / poor class |
Middle Class |
|
|
|
|
Proximity to civic amenities, like schools,
hospitals, office, markets, cinemas etc. |
Available within 5 – 6 Kms. |
|
|
|
|
Means and proximity to surface communication
by which the locality is served |
Nearest railway station is Kalyan Railway Station.
ST Buses and Auto 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 |
Total Area = 3175.55 sq. mtr. Or thereabout |
|
|
|
|
It is leasehold, the name of lessor /
lessee, nature of lease, dates of commencement and termination of lease and
terms of renewal of lease: |
|
|
Initial Premium |
Freehold |
|
Ground Rent Payable Per Annum |
|
|
Unearned Increase Payable to the Lessor in
the Event or Sale of Transfer |
|
|
|
|
|
Does the land fall in an area included in
any town planning scheme or any development plant of government or any
statutory body? It so, give particulars |
Within Limit of Village Khapari |
|
|
|
|
What is the Floor Space Index Permissible
and percentage Actually Utilized? |
As Permissible |
|
|
|
|
Give instance of sales of immovable property
in the locality on the separated sheet, indication 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.600/- per sq. ft. Non
Agricultural Bungalow Plot of Land |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
PART II
LOCALITY:
The subject property is located in a
developing middle class locality of Malshet Murbad Road, Murbad. Nearest
communication centre is Kalyan about 55 Kms from the subject plot. Autorikshas,
Taxi and ST buses are available from the railway station and other points, upto
the particular locality. Civic amenities such as banks, markets, schools, etc.
are within a radius of 5-6 Kms from the locality.
PLOT:
The plot of land viz. various Survey No Falls
under within the limits of Village Khapri, Murbad. The plots are bounded as,
Towards North = Hill View
Towards South = Malshet view
Towards East = Kalu Dam
Towards North = Khopari Village
The plots are subplots of bigger plot and as verified
from document provided, each plot admeasures,
|
SR. NO. |
PLOTS NO. |
AREA IN SQ. MTR. |
AREA IN SQ. FTS. |
|
1 |
310 |
570.14 |
6135 |
|
2 |
311 |
656.96 |
7069 |
|
3 |
312 |
278.35 |
2995 |
|
4 |
313 |
278.35 |
2995 |
|
5 |
314 |
278.35 |
2995 |
|
6 |
333 |
278.35 |
2995 |
|
7 |
334 |
278.35 |
2995 |
|
8 |
335 |
278.35 |
2995 |
|
9 |
338 |
278.35 |
2995 |
|
TOTAL |
3175.55 |
34169 |
|
Therefore total area of the plot is works out
to 34169 sq. fts. Or thereabout
VALUATION MOTIVATION:
Market value is the estimated amount for which
an asset should exchange on the date of valuation between a willing buyer and a
willing seller in an arm’s length transaction after proper marketing wherein
the parties had each acted knowledgably, prudently and without compulsions.
Based on their research and information
collected, the fair market rates for similar type of Non Agricultural Plot
having proper access are varying anything around Rs.600/- per sq. fts.
VALUATION:
Taking cognizance of the facts as stated
above, real estate market condition, marketability, location of the plot,
levels of the plot and various other information gathered in this regard, they
ascertain the fair market value of the said subject plot of land as,
34169
sq. fts. X Rs.600/- per sq. fts. = Rs.20.501 Millions
Say Rs.20.500 Millions
As on 18/12/2013 for bank purpose.
REALIZABLE/ DISTRESS SALE VALUE:
Considering the factors as stated above, they are
of the opinion that the realizable value of the aforesaid plot would be
Rs.18.400 Millions and distress sale value of the aforesaid plot would be about
Rs.16.400 Millions.
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.61.13 |
|
|
1 |
Rs.101.17 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.