MIRA INFORM REPORT
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Report No. : |
309722 |
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Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOSHAMBH MULTITRED PRIVATE LIMITED |
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Registered
Office : |
301-302, Gamthi Complex, Opposite Baroda Productivity
Council, Productivity Road, Vadodara – 390005, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.03.1995 |
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Com. Reg. No.: |
04-025198 |
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Capital
Investment / Paid-up Capital : |
Rs.6.840 Million |
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CIN No.: [Company Identification
No.] |
U74999GJ1995PTC025198 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACK7744A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of getting textiles manufactured by job workers and also in the business of trading in diverse kinds of goods including plastic, textiles, detergents, etc. |
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No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payments terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate risk. |
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Date |
June 27, 2014 |
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Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
June 27, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Nilesh Shah |
|
Designation : |
Chief Finance Officer |
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Contact No.: |
91-265-233401 |
|
Date : |
24.02.2015 |
LOCATIONS
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Registered Office : |
301-302, Gamthi Complex, Opposite Baroda Productivity
Council, Productivity Road, Vadodara – 390005, Gujarat, India |
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Tel. No.: |
91-265-2334401 / 02 / 03 |
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Fax No.: |
91-265-2334405 |
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E-Mail : |
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Website : |
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Factory 1: |
101 Motiwala Building Near Fulwadi Chawk, Jetpur, Gujarat, India |
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Factory 2 : |
Salvi E12, GIDC, Manjusar, Taluka Savli-391775, Gujarat, India |
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Factory 3 : |
Halol-205/1 GIDC Estate Halol-38935, Gujarat, India |
DIRECTORS
As on 30.08.2014
|
Name : |
Mr. Ahuja Rajesh Kanaiyalal |
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Designation : |
Managing Director |
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Address : |
B-I, Sai Baba Nagar, Warasiya, Baroda – 390006, Gujarat, India |
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Date of Birth/Age : |
07.10.1971 |
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Date of Appointment : |
27.03.1995 |
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PAN No.: |
ABDPA2982K |
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DIN No.: |
01535410 |
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Name : |
Mrs. Rekha Kanaiyalal Ahuja |
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Designation : |
Director |
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Address : |
B-I, Sai Baba Nagar, Warasiya, Baroda – 390006, Gujarat, India |
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Date of Birth/Age : |
01.07.1951 |
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Date of Appointment : |
27.03.1995 |
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PAN No.: |
ADBPA4233H |
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DIN No.: |
00478639 |
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Name : |
Mrs. Vaswani Kaushilya Shambhunath |
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Designation : |
Director |
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Address : |
C-23, Vidya Nagar Society, Varshiya, Baroda – 390006, Gujarat, India |
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Date of Birth/Age : |
15.10.1940 |
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Date of Appointment : |
27.03.1995 |
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PAN No.: |
ADEPV1113E |
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DIN No.: |
01357314 |
MAJOR SHAREHOLDERS
As on 30.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Rekha Kanaiyalal Ahuja |
|
63420 |
|
Ahuja Rajesh Kanaiyalal |
|
169720 |
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Rani R. Ahuja |
|
39700 |
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Mohit R. Ahuja |
|
32800 |
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Riddhi R. Ahuja |
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28500 |
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Kanaiyalala J. Ahuja |
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147000 |
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Manju L. Vaswani |
|
164880 |
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Vaswani Kaushilya Shambhunath |
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170280 |
Equity Share Break up (Percentage of Total Equity)
As on 30.08.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
49.00 |
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Directors or relatives of Directors |
51.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of getting textiles manufactured by job workers and also in the business of trading in diverse kinds of goods including plastic, textiles, detergents, etc. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
70 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Jain and Hindocha Chartered Accountants |
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Address : |
201, Sushil, 38, Gautam Nagar, Race Course, Vadodara – 390007,
Gujarat, India |
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PAN No.: |
AABFJ1544P |
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Subsidiary Company
: |
CIN No.: U15203GJ2012PTC072968 |
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Enterprises which are
owned, or have significant influence of or are partners with
Key management personnel and their relatives : |
CIN No.: U29302KA2006PTC038883
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CAPITAL STRUCTURE
As on 30.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
684000 |
Equity Shares |
Rs.10/- each |
Rs.6.840 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
6.840 |
6.840 |
6.840 |
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(b) Reserves & Surplus |
447.470 |
362.071 |
286.782 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
454.310 |
368.911 |
293.622 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
4.695 |
3.104 |
3.594 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
1.809 |
1.809 |
0.000 |
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(d) long-term
provisions |
0.000 |
0.043 |
0.043 |
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Total Non-current
Liabilities (3) |
6.504 |
4.956 |
3.637 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
388.633 |
247.715 |
250.050 |
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(b) Trade
payables |
145.220 |
210.577 |
156.851 |
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(c) Other
current liabilities |
34.438 |
20.177 |
80.086 |
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(d) Short-term
provisions |
0.937 |
7.470 |
0.314 |
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Total Current
Liabilities (4) |
569.228 |
485.939 |
487.301 |
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TOTAL |
1030.042 |
859.806 |
784.560 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
120.492 |
69.836 |
49.186 |
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(ii)
Intangible Assets |
0.309 |
0.180 |
0.220 |
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(iii)
Capital work-in-progress |
0.278 |
19.931 |
16.460 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
23.254 |
15.932 |
17.395 |
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(c) Deferred tax assets (net) |
0.059 |
0.280 |
0.393 |
|
(d) Long-term Loan and Advances |
37.750 |
28.554 |
34.274 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
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Total Non-Current
Assets |
182.142 |
134.713 |
117.928 |
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(2)
Current assets |
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(a)
Current investments |
27.334 |
6.611 |
3.419 |
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(b)
Inventories |
141.009 |
99.250 |
101.088 |
|
(c) Trade
receivables |
527.030 |
477.239 |
471.633 |
|
(d) Cash
and cash equivalents |
70.078 |
61.295 |
39.706 |
|
(e)
Short-term loans and advances |
82.449 |
80.698 |
50.786 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
847.900 |
725.093 |
666.632 |
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|
|
|
|
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TOTAL |
1030.042 |
859.806 |
784.560 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
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Other Income |
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TOTAL |
2425.873 |
1723.168 |
1967.186 |
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Less |
EXPENSES |
2249.703 |
1586.519 |
1822.735 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
176.170 |
136.649 |
144.451 |
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Less |
FINANCIAL
EXPENSES |
27.687 |
17.830 |
0.000 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
148.483 |
118.819 |
144.451 |
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Less |
DEPRECIATION/
AMORTISATION |
10.787 |
4.735 |
3.774 |
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PROFIT/(LOSS)
BEFORE TAX |
137.696 |
114.084 |
140.677 |
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Less |
TAX |
52.297 |
38.795 |
46.792 |
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PROFIT/(LOSS)
AFTER TAX |
85.399 |
75.289 |
93.885 |
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|
Earnings Per
Share (Rs.) |
124.85 |
110.07 |
137.26 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.52 |
4.37 |
4.77 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.26 |
7.93 |
7.34 |
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Return on Investment (ROI) (PBT/Networth) |
|
13.68 |
13.85 |
18.75 |
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|
Debt Equity Ratio (Total Debt /Networth) |
|
0.30 |
0.31 |
0.48 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
0.87 |
0.68 |
0.86 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
6.840 |
6.840 |
6.840 |
|
Reserves & Surplus |
286.782 |
362.071 |
447.470 |
|
Net
worth |
293.622 |
368.911 |
454.310 |
|
|
|
|
|
|
long-term borrowings |
3.594 |
3.104 |
4.695 |
|
Short term borrowings |
250.050 |
247.715 |
388.633 |
|
Total
borrowings |
253.644 |
250.819 |
393.328 |
|
Debt/Equity
ratio |
0.864 |
0.680 |
0.866 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1967.186 |
1723.168 |
2425.873 |
|
|
|
(12.404) |
40.780 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1967.186 |
1723.168 |
2425.873 |
|
Profit |
93.885 |
75.289 |
85.399 |
|
|
4.77% |
4.37% |
3.52% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current
maturities of long-term debt |
2.012 |
2.572 |
2.210 |
|
Total |
|
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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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
Note:
Registered office of the company has been shifted from 6th
Floor City Plaza Dandia Bazar, Baroda- 390001, Gujarat, India to the present address
w.e.f.02.05.2013
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Loans taken for vehicles |
4.695 |
1.604 |
|
Short Term Borrowings |
|
|
|
Loans and advances from related parties |
0.092 |
0.213 |
|
Total |
4.787 |
1.817 |
Operations
in retrospect:
During the year, the Gross Income of the Company reached to Rs. 2425.873 Million as against Rs. 1723.168 Million, whereas, the Net profit after Tax reached to Rs. 85.399 Million as against Rs. 75.288 Million for the corresponding previous year.
The Company would be continuing to endeavour to operate on its optimum capacities with relatively lesser costs and so as to generate still more surpluses in coming years. With the systematic, planned and result oriented approach and with the effective organizational set up to bring all round efficiency, the Board expects better future performance of the Company in coming years, barring unforeseen circumstances.
INDEX OF CHARGE:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10190129 |
03/11/2014 * |
513,000,000.00 |
Indian Overseas Bank |
MEHTA POLE, MANDVI, VADODARA, Gujarat - 390006, INDIA |
C33168527 |
|
2 |
90099091 |
17/10/2014 * |
513,000,000.00 |
Indian Overseas Bank |
Mehta Pole Branch, Near Mandvi, Vadodara, Gujarat |
C33170556 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.93 |
|
|
1 |
Rs.96.24 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.