MIRA
INFORM REPORT
|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
GREEN GOLD TIMBERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 36/1 and 37, NH 8A, 8KM, Milestone, Post Box No.259, Padama
Anjar – 370110, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.10.1998 |
|
|
|
|
Com. Reg. No.: |
04-034826 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.22.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20200GJ1998PTC034826 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTG00080D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG7875Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in Timbers and Sawing of Timber Logs. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 137000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profitability of the company seems to be low during 2013. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealing 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.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
B+ (Long Term Rating) |
|
Rating Explanation |
Have high risk of default. |
|
Date |
May 16, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 (Short Term Rating) |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
May 16, 2013 |
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 DENIED BY
|
Name : |
Mr. R. K. Diwan |
|
Designation : |
Account Manager |
|
Contact No.: |
91-135-2722544 |
|
Date : |
22.05.2014 |
LOCATIONS
|
Registered Office : |
Survey No. 36/1 and 37, NH 8A, 8KM, Milestone, Post Box No.259, Padama
Anjar - 370110, Gujarat, India |
|
Tel. No.: |
91-2836-286485 / 286201/ 296777 |
|
Fax No.: |
91-2836-286486 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
B-5, Government Industrial Estate, Patel Nagar, Dehradun – 248001,
Uttaranchal, India |
|
Tel. No.: |
91-135-2722541 |
|
Fax No.: |
91-135-2723404 |
DIRECTORS
As on: 27.09.2013
|
Name : |
Mr. Akhilesh Manglik |
|
Designation : |
Director |
|
Address : |
Plot No. 41 and 42, Navratna Residency, Meghpar, Anjar, Gujarat ,
India |
|
Date of Appointment : |
15.10.1998 |
|
DIN No.: |
|
|
|
|
|
Name : |
Mr. Mudit Manglik |
|
Designation : |
Director |
|
Address : |
11-A, |
|
Date of Appointment : |
15.10.1998 |
|
DIN No.: |
00301050 |
|
|
|
|
Name : |
Mr. Anuj Manglik |
|
Designation : |
Director |
|
Address : |
Plot No. 41 and 42, Navratna Residency, Meghpar, Anjar, Gujarat, India
|
|
Date of Appointments : |
15.10.1998 |
|
DIN No.: |
00301167 |
|
|
|
|
Name : |
Ms. Rita Manglik |
|
Designation : |
Director |
|
Address : |
Plot No. 41 and 42, Navratna Residency, Meghpar, Anjar, Gujarat, India |
|
Date of Birth/Age : |
02.01.1949 |
|
Date of Appointment : |
27.09.2007 |
|
DIN No.: |
02561466 |
KEY EXECUTIVES
|
Name : |
Mr. R. K. Diwan |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Akhilesh Manglik |
|
659180 |
|
Mudit Manglik |
|
164040 |
|
Anuj Manglik |
|
619160 |
|
Rita Manglik |
|
140 |
|
Archana Manglik |
|
292640 |
|
Rashi Manglik |
|
126040 |
|
Mudit Manglik (HUF) |
|
238100 |
|
Green Gold Tree Farmers Private Limited, India |
|
140000 |
|
Ankit Manglik |
|
100 |
|
Madhu Jain |
|
100 |
|
Rakesh Sagar Jain |
|
100 |
|
Fulford Sales Private Limited, India |
|
100 |
|
Goldborn Commotrade Private Limited, India |
|
100 |
|
Navnita Delcomm Private Limited, India |
|
100 |
|
Timbor Home Private Limited, India |
|
100 |
|
|
|
|
|
Total |
|
2240000 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
6.27 |
|
Directors or relatives of directors |
|
93.73 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Timbers and Sawing of Timber Logs. |
GENERAL INFORMATION
|
Suppliers : |
· Fast Rise Trading Limited · Radhika Shipping · Amulya Laminates · Mantri Industries · Goyal Timber Store · Purbanchal Veeners · Ram Timber · Choudhary Timber Industries Private Limited · Landmark Veeners Private Limited ·
Green Gold Tree Farmers Private Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
· Mahakali Enterprises · Choudhary Saw Mills · Vijay Timber · Royal Timber Mart · Shubham Enterprise · Shubham Industries · J.A. Industries · Neowood Packaging · Chinnar Joinery ·
Timbor Home Limited |
||||||||||||||||||||||||||||||
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No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Bankers : |
· Union Bank of India, 19-B, Rajpur Road, Dehradun - 248001, Uttarakhand, India · Kotak Mahindra Bank Limited · HDFC Bank Limited · Jammu and Kashmir Bank |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Note: Details of
Securities and Terms of Repayment : I. Secured Loans
(From Banks) i Kotak Mahindra
Bank (Term Loan – Rs.0.575 Million) a. The loan is secured against hypothecation of Financed vehicle. b. Interest is payable at flat rate of 7.76%. b. The loan was repayable in 35 monthly installments as below : - First I I monthly installments of Rs. 0.029 Million each - Next 12 monthly installments of Rs. 0.021 Million- each - Last 12 monthly installments of Rs. 0.012 Million- each c. The period of maturity of loans w.r.t balance sheet date is 1 year 6 months. ii Union Bank of
India - Term Loan - 3068061100000274 a. The Term Loan sanctioned by Bank is Rs.7.000 Millions. b. Details of Securities : Secured Against Charge over all the Fixed and Current Assets of the Company. c. The Principal amount of loan was repayable in 36 monthly installments of Rs.0.194 Millions plus d. The period of maturity of loans w.r.t balance sheet date is 1 year 7 months. iii Union Bank of
India -Cash Credit - 306805010000406 a. The Cash Credit Limit sanctioned by Bank is Rs.30.000 Millions. Out of which, CC limit to the tune Rs.2.500 Millions is parked for Gandhidham Branch of Green Gold Timbers Private Limited. b. Details of Securities : Secured Against * Hypothecation of all the Stocks of Timber and the Processed Timber, fully paid up and insured; * Lien over Deposits of Margin money of DA LC and LG; * Charge over all the Fixed and Current Assets of the Company. * Equitable Mortgage over the 10 collaterals of director and related parties. c. The Cash Credit has generally a tenure of 1 year however is repayable on demand. d. Interest is payable at the rate of 4.50% above Bank's base rate, rising or falling therewith. Present
rate is 14.00% p.a. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Hiranandani and Company Chartered Accountants |
|
Address : |
“Banke Bihari”, Plot No. 16, Ward 10-B (C), Opposite IFFCO Main Gate,
Gandhidham – 370 201, Gujarat, India |
|
Tel. No.: |
91-2836-234080 / 233732 |
|
Fax No.: |
91-2836-233382 |
|
E-mail : |
|
|
Pan No.: |
AACFH2667N |
|
|
|
|
Enterprises owned or
Significantly influenced by Key Management Personnel other their relatives
(Other Related Parties): |
Green Gold Tree Farmers Private Limited |
CAPITAL STRUCTURE
As on: 27.09.2013
Authorised Capital : Rs.35.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.35.000 Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2240000 |
Equity Shares |
Rs.10/- each |
Rs.22.400 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 |
22.400 |
22.400 |
22.400 |
|
(b) Reserves & Surplus |
12.065 |
6.926 |
5.480 |
|
(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) |
34.465 |
29.326 |
27.880 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
16.922 |
15.250 |
15.551 |
|
(b) Deferred tax liabilities
(Net) |
0.435 |
0.488 |
0.601 |
|
(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) |
17.357 |
15.738 |
16.152 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
66.148 |
40.932 |
40.796 |
|
(b) Trade payables |
223.529 |
203.247 |
171.160 |
|
(c) Other current liabilities |
14.251 |
25.977 |
10.633 |
|
(d) Short-term provisions |
1.631 |
0.891 |
4.392 |
|
Total
Current Liabilities (4) |
305.559 |
271.047 |
226.981 |
|
|
|
|
|
|
TOTAL |
357.381 |
316.111 |
271.013 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
21.010 |
21.483 |
21.680 |
|
(ii) Intangible Assets |
0.009 |
0.011 |
0.000 |
|
(iii) Capital work-in-progress |
1.052 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.942 |
4.022 |
2.533 |
|
(e) Other Non-current assets |
32.391 |
14.933 |
11.009 |
|
Total
Non-Current Assets |
58.404 |
40.449 |
35.222 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
204.589 |
136.805 |
123.880 |
|
(c) Trade receivables |
83.084 |
114.193 |
104.296 |
|
(d) Cash and cash equivalents |
1.404 |
14.363 |
2.064 |
|
(e) Short-term loans and
advances |
9.757 |
10.178 |
2.464 |
|
(f) Other current assets |
0.143 |
0.123 |
0.087 |
|
Total
Current Assets |
298.977 |
275.662 |
232.791 |
|
|
|
|
|
|
TOTAL |
357.381 |
316.111 |
268.013 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
966.828 |
762.540 |
634.818 |
|
|
Other Income |
2.018 |
1.979 |
2.994 |
|
|
TOTAL
(A) |
968.846 |
764.519 |
637.812 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
903.480 |
636.893 |
606.628 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(67.784) |
(12.924) |
(92.795) |
|
|
Employees benefits expense |
5.849 |
4.552 |
5.415 |
|
|
Other expenses |
100.414 |
116.728 |
102.000 |
|
|
TOTAL
(B) |
941.959 |
745.249 |
621.248 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
26.887 |
19.270 |
16.564 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.746 |
13.386 |
8.625 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.141 |
5.884 |
7.939 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
3.388 |
3.548 |
2.594 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
7.753 |
2.336 |
5.345 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
2.614 |
0.891 |
1.694 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
5.139 |
1.445 |
3.651 |
|
|
|
|
|
|
|
|
TOTAL
IMPORTS |
483.498 |
340.624 |
267.073 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.29 |
0.65 |
1.63 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.53 |
0.19 |
0.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.80 |
0.31 |
0.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.18 |
0.74 |
1.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.08 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.41 |
1.92 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.02 |
1.03 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
22.400 |
22.400 |
22.400 |
|
Reserves & Surplus |
5.480 |
6.926 |
12.065 |
|
Net
worth |
27.880 |
29.326 |
34.465 |
|
|
|
|
|
|
long-term borrowings |
15.551 |
15.250 |
16.922 |
|
Short term borrowings |
40.796 |
40.932 |
66.148 |
|
Total
borrowings |
56.347 |
56.182 |
83.070 |
|
Debt/Equity
ratio |
2.021 |
1.916 |
2.410 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
634.818 |
762.540 |
966.828 |
|
|
|
20.119 |
26.790 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
634.818 |
762.540 |
966.828 |
|
Profit |
3.651 |
1.445 |
5.139 |
|
|
0.58% |
0.19% |
0.53% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM BORROWINGS
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term borrowings |
1.457 |
2.501 |
2.567 |
|
|
|
|
|
|
Total |
1.457 |
2.501 |
2.567 |
|
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 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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
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 |
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 |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Akhilesh Manglik HUF |
6.313 |
4.758 |
|
Akhilesh Manglik |
1.500 |
1.500 |
|
Anubhuti Manglik |
0.129 |
0.114 |
|
Anuj Manglik HUF |
0.558 |
0.492 |
|
Anuj Manglik |
0.900 |
0.900 |
|
Archana Manglik |
0.214 |
0.408 |
|
Mudit Manglik HUF |
1.377 |
1.121 |
|
Rashi Manglik |
1.230 |
0.740 |
|
Rita Manglik |
4.137 |
3.324 |
|
Mudit Manglik |
0.564 |
0.408 |
|
SHORT TERM
BORROWINGS |
|
|
|
From Related
Parties |
|
|
|
Ananya Manglik |
0.450 |
0.450 |
|
Anchal Manglik |
0.656 |
0.578 |
|
Ankit Manglik HUF |
1.496 |
1.301 |
|
Kapilesh Manglik |
3.347 |
3.347 |
|
Raghav Manglik |
0.841 |
0.943 |
|
Akhilesh Manglik |
1.597 |
0.374 |
|
Anuj Manglik |
0.782 |
0.050 |
|
From Others |
|
|
|
Ankita Kumar |
0.000 |
0.568 |
|
Anubhav Kumar |
0.000 |
0.568 |
|
Madhu Jain |
0.212 |
0.186 |
|
Sahu Ram Kishore |
0.000 |
1.074 |
|
Kumkum Jain |
0.570 |
0.000 |
|
Ragini Kumar |
0.570 |
0.000 |
|
Alka Aren |
1.500 |
1.500 |
|
Ajay Mahajan |
1.004 |
0.000 |
|
Fulford Sales Private Limited |
6.023 |
0.000 |
|
Goldborn Commotrade Private Limited |
5.034 |
0.000 |
|
Navnita Delcomm Private Limited |
3.021 |
0.000 |
|
Timbor Home Private Limited |
9.118 |
0.000 |
|
|
|
|
|
Total |
53.143 |
24.704 |
NOTE
The Registered Company of the company has been shifted from Survey No.187, N H No. 8- Amthi Rohar Gandhidham, Kutch – 370 201,
Gujarat, India to present address w.e.f. 11.06.2009
PERFORMANCE:
The companies working results for the year ended 31st March, 2013 have been satisfactory. The total turnover stood at Rs. 968.649 Millions during the year, the company has made net profit of Rs.7.753 Millions (before tax). The net profit has been reduced during the year mainly on account fall of rupee in comparision to dollar and the company has to suffer a loss on account of exchange rate fluctuation. The Directors recommend that after making a provision for current and deferred tax, the balance may be carried forward.
In the current year, company has good contracts on hand and directors hope to show better results but for unforseen circumstances.
CONTINGENT LIABILITIES
NOT PROVIDED FOR IN RESPECT OF:
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
Letter of Credits outstanding for Purchase of Materials |
145.992 |
18.718 |
|
Counter Guarantees given to Banks for guarantees issued on behalf of company |
1.500 |
0.061 |
|
Claims against the Company not acknowledged as Debt- Income Tax Demand under appeal |
1.168 |
1.168 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10437818 |
28/11/2013 * |
57,000,000.00 |
UNION BANK OF INDIA |
19-B, RAJPUR ROAD, DEHRADUN, UTTARAKHAND - 248001, INDIA |
B91461475 |
|
2 |
90106707 |
10/02/2003 * |
10,000,000.00 |
UNION BANK OF INDIA |
19-B, RAJPUR ROAD, DEHRADUN, UTTARAKHAND - 248001, INDIA |
- |
|
3 |
90106581 |
21/04/2005 * |
10,000,000.00 |
UNION BANK OF INDIA |
19-B, RAJPUR ROAD, DEHRADUN, UTTARAKHAND - 248001, INDIA |
- |
|
4 |
90105115 |
29/08/2013 * |
355,897,000.00 |
UNION BANK OF INDIA |
19-B, RAJPUR ROAD, DEHRADUN, UTTARAKHAND - 248001, INDIA |
B87171450 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Buildings
· Plant and Equipments
· Furniture and Fixtures
· Vehicles
· Office Equipments
· Computer
Intangible Assets
· Computer Software
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.58.57 |
|
|
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not cause
fatal effect. Satisfactory capability for payment of interest and principal
sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial
difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New
Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.