MIRA INFORM REPORT

 

 

Report No. :

334028

Report Date :

28.07.2015

 

IDENTIFICATION DETAILS

 

Name :

SAFFRO MELLOW COATINGS AND RESINS

 

 

Registered Office :

Survey No. 434/1, Near Pansoli-Navagam Dandi Road, Mouje Navagam Village, District Kheda – 387540, Gujarat

Mobile No.:

91-9924300407 (Mr. Tushar V. Rajpara)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015 (Provisional)

 

 

Date of Establishment :

18.02.2008

 

 

Capital Investment :

Rs. 8.529 Million

 

 

PAN No.:

[Permanent Account No.]

ABOFS9916Q

 

 

Legal Form :

Partnership Concern with an Unlimited Liability of the Partners

 

 

Line of Business :

Manufacturer of Paints.

 

 

No. of Employees :

11 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a partnership concern established in the year 2008. It is the manufacturer of Water based Paint, Solvent based Paint and Industrial Paints. It has a satisfactory track record.

 

As per available financial information of the year 2015, the concern has decent capital structure along with minimal amount of borrowings and achieved profitability margin of 2.47%. The concern is growing consistently. 

 

Further, the directors of the concern are respectable and experienced.

 

Trade relations are reported as fair. Business is active. Payment terms are slow but correct.

 

In view of healthy financial base, the concern can be considered of 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.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Tushar V. Rajpara

Designation :

Partner

Contact No.:

91-9924300407

Date :

27.07.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Survey No. 434/1, Near Pansoli-Navagam Dandi Road, Mouje Navagam Village, District Kheda – 387540, Gujarat, India

Tel. No.:

Not Available

Mobile No.:

91-9924300407 (Mr. Tushar V. Rajpara)

Fax No.:

Not Available

E-Mail :

saffromellow@yahoo.com

info@saffromelloe.com

Website :

http://www.saffromellow.com

Area :

39204 Sq. ft.

Location :

Owned

 

 

Correspondence Office :

8, Upvan Bungalow, Near Manohar Villa Cross Road, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

Area :

400 Sq. ft.

Location :

Rented

 

 

PARTNERS

 

Name :

Mr. Nilesh B. Patel

Designation :

Partner

Address :

A 1-203, Neelkanth Residency, BH Janseva Kendar, Nava Naroda, Ahmedabad, Gujarat, India

Date of Birth/Age :

13.05.1979

Qualification :

Master of Science (Paints and Varnishes)

Experience :

12 Years

 

 

Name :

Mrs. Gitaben N. Patel

Designation :

Partner

Address :

A 1-203, Neelkanth Residency, BH Janseva Kendar, Nava Naroda, Ahmedabad, Gujarat, India

Date of Birth/Age :

20.01.1980

Qualification :

Bachelor of Commerce

Experience :

8 Years

PAN No.:

AZNPP3145R

 

 

Name :

Mr. Pulkeshi B. Gami

Designation :

Partner

Address :

8, Upvan Bungalow, Near Manohar Villa Cross Road, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

Date of Birth/Age :

05.02.1980

Qualification :

Master of Science (Paints and Varnishes)

Experience :

11 Years

PAN No.:

AFFPG6924F

Voter ID :

URP2727881

 

 

Name :

Mrs. Sonalben P. Gami

Designation :

Partner

Address :

8, Upvan Bungalow, Near Manohar Villa Cross Road, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

Date of Birth/Age :

15.01.1983

Qualification :

Bachelor of Commerce

Experience :

7 Years

PAN No.:

ANAPG3997K

 

 

Name :

Mr. Subhashchandra M. Makwana

Designation :

Partner

Address :

A-403, Madhav Residency, Near Langadia Hanuman Temple, Virat Nagar, Odhav, Ahmedabad, Gujarat, India

Date of Birth/Age :

29.10.1972

Qualification :

Higher Secondary

Experience :

20 Years

PAN No.:

ACPPM1200R

 

 

Name :

Mrs. Shitalben S. Makvana

Designation :

Partner

Address :

A-403, Madhav Residency, Near Langadia Hanuman Temple, Virat Nagar, Odhav, Ahmedabad, Gujarat, India

Date of Birth/Age :

03.06.1975

Qualification :

Master in Commerce

Experience :

20 Years

PAN No.:

AVRPM6817D

 

 

Name :

Mrs. Tejal Tushar Rajpara

Designation :

Partner

Address :

B-401, Madhav Residency, Near Langadia Hanuman Temple, Virat Nagar, Odhav, Ahmedabad, Gujarat, India

Date of Birth/Age :

14.01.1982

Qualification :

Bachelor of Engineering (Electrical)

Experience :

7 Years

 

 

Name :

Mr. Tushar V. Rajpara

Designation :

Partner

Address :

B-401, Madhav Residency, Near Langadia Hanuman Temple, Virat Nagar, Odhav, Ahmedabad, Gujarat, India

Date of Birth/Age :

24.06.1980

Qualification :

Master of Science (Paints and Varnishes)

Experience :

11 Years

PAN No.:

AGHPR9029D

Voter ID :

AFH2264760

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Paints.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

--

Countries :

--

 

 

Imports :

 

Products :

--

Countries :

--

 

 

Terms :

 

Selling :

Credit (60 Days)

 

 

Purchasing :

Credit (90 Days)

 

 

PRODUCTION DETAILS

 

Products

Installed Capacity

Actual Production

 

 

 

Water based Paint (Decorative)

25 Tons

25 Tons

Solvent based Paint (Decorative)

10 Tons

7 Tons

Industrial Paints

5 Tons

4 Tons

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Plastic Solvent Private Limited

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         DKSH India Private Limited

 

 

Customers :

Wholesalers, Retailers, End Users and OEMs

 

Reference:

Navkar Sales Corporation

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Virat Sales Corporation

 

 

No. of Employees :

11 (Approximately)

 

 

Bankers :

Bank Name:

Bank of Baroda

Branch:

Bapunagar, Ahmedabad, Gujarat, India

Person Name (with Designation):

Mr. V. S. Chawda (Senior Branch Manager)

Contact Number:

91-79-22700404/ 405

Name of Account Holder:

Saffro Mellow Coatings And Resins

Account Number:

31940200000199

Account Since (Date/ Year of A/c Opening):

20.08.2009

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

No Facilities

Account Operation:

Not Divulged

Remarks: Satisfactory

 

 

Facilities :

--

 

 

 

Auditors :

 

Name :

Gaurav Rathi and Company

Chartered Accountants

Address :

Block A, 1/1, 4th Floor, Ajanta Commercial Centre, Near Income Tax Circle, Ashram Road, Ahmedabad – 380014, Gujarat, India

Mobile No.:

91-9898898093

E-Mail :

grathi7820@gmail.com

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015 (PROVISIONAL)

 

PARTICULARS

AMOUNT IN MILLION

 

 

Geetaben Patel

1.016

Nileshbhai B. Patel

1.116

Pilkeshi Gami

1.116

Shital Makwana

1.016

Sonal P. Gami

1.016

Subhashchandra Makwana

1.116

Tejalben Rajpara

1.016

Tushar Rajpara

1.117

 

 

Total

 

8.529

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

[Provisional]

31.03.2014

31.03.2013

SHAREHOLDERS FUNDS

 

 

 

1] Partners Capital

8.529

7.422

6.235

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

8.529

7.422

6.235

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.255

0.255

0.195

TOTAL BORROWING

0.255

0.255

0.195

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

8.784

7.677

6.430

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.008

0.008

0.008

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
9.016

5.265

5.960

 

Sundry Debtors
6.420

6.354

3.499

 

Cash & Bank Balances
0.209

0.528

0.440

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
0.049

0.000

0.004

Total Current Assets
15.694

12.147

9.903

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
6.918

4.216

3.307

 

Other Current Liabilities
0.000

0.244

0.133

 

Provisions
0.000

0.018

0.041

Total Current Liabilities
6.918

4.478

3.481

Net Current Assets
8.776

7.669

6.422

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

8.784

7.677

6.430

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

[Provisional]

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

8.600

8.568

6.086

 

 

Other Income

0.000

0.000

0.000

 

 

TOTAL                                    

8.600

8.568

6.086

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods sold

7.513

7.510

5.164

 

 

Account Fees

0.020

0.018

0.013

 

 

Electricity Bill Expenses

0.127

0.119

0.111

 

 

Office Expenses

0.028

0.026

0.006

 

 

Partner Remuneration

0.559

0.562

0.000

 

 

Salary Expenses

0.073

0.041

0.115

 

 

Stationery and Printing

0.016

0.015

0.004

 

 

Telephone Expenses

0.010

0.009

0.013

 

 

Other Expenses

0.031

0.043

0.527

 

 

TOTAL                                    

8.377

8.343

5.953

 

 

 

 

 

 

NET PROFIT

0.223

0.225

0.133

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

[Provisional]

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)
2.59

2.63

2.19

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
1.42

1.85

1.34

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.03

0.03

0.02

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
0.03

0.03

0.03

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
2.27

2.71

2.84

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

 

31.03.2013

 

31.03.2014

 

31.03.2015 [Provisional]

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Partners Capital

6.235

7.422

8.529

Reserves & Surplus

0.000

0.000

0.000

Net worth

6.235

7.422

8.529

 

 

 

 

Secured Loans

0.000

0.000

0.000

Unsecured Loans

0.195

0.255

0.255

Total borrowings

0.195

0.255

0.255

Debt/Equity ratio

0.031

0.034

0.030

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

 

31.03.2013

 

31.03.2014

 

31.03.2015 [Provisional]

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

6.086

8.568

8.600

 

 

40.782

0.373

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

 

31.03.2013

 

31.03.2014

 

31.03.2015 [Provisional]

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

6.086

8.568

8.600

Net Profit

0.133

0.225

0.223

 

2.19%

2.63%

2.59%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

Yes

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

Yes

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

No

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

Yes

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

------------------------------------------------------------------------------------------------------------------------------

 

SAFFRO MELLOW COATINGS AND RESINS

 

COMPUTATION OF TOTAL INCOME

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2014

 

 

 

 

 

INCOME FROM BUSINESS OR PROFESSION

 

 

 

 

 

 

 

Profit/ Gains from Business u/s 44AD

 

 

 

Gross Receipts during the year

9.481

 

 

 

 

 

 

A. Deemed Profit @ 8% of Gross Receipts

0.787

 

 

 

 

 

 

B. Actual Profit @ 8% of Gross Receipts

0.787

 

 

 

 

 

 

Maximum of A and B

 

0.787

 

 

 

 

 

Less: Remuneration allowed to partner as per rule

 

0.562

 

 

 

 

 

Net Income

 

0.225

 

 

 

 

 

Total Business Income

 

0.225

 

 

 

 

 

BUSINESS OR PROFESSION

 

 

0.225

 

 

 

 

GROSS TOTAL INCOME

 

 

0.225

 

 

 

 

Net Income (Rounded Off +3)

 

0.225

 

 

 

 

 

 

COMPUTATION OF TAX LIABILITY

 

Tax on taxable Income (0.225) at normal rate

 

0.067

 

Add: Education Cess @ 2%

 

0.001

 

Add: SHE cess @ 1%

 

0.001

 

 

 

------------

 

Tax Liability

 

0.069

 

 

 

 

 

Add: Interest u/s 234A

0.006

 

 

 

------------

0.006

 

 

 

------------

 

Tax with Interest

 

0.075

 

 

 

 

 

Tax Payable (Rounded +4)

 

0.075

 

 

 

 

 

Self Assessment Tax Paid on date 20.03.2015 at State Bank of India

 

0.075

 

 

 

 

 

Tax to Pay / Refund Payable

 

 

Nil

 

------------------------------------------------------------------------------------------------------------------------------

 

DEBT SERVICE COVERAGE RATIO

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

31.03.2020

(Projected)

 

 

 

 

 

 

Net cash Accrual

3.382

3.385

3.498

3.708

3.802

 

 

 

 

 

 

Interest on Term Loan

0.859

1.008

0.841

0.757

0.591

 

 

 

 

 

 

Total Cash Flow

4.241

4.393

4.339

4.465

4.393

 

 

 

 

 

 

Principle Repayment of Term Loan

1.050

1.050

1.050

1.050

1.050

 

 

 

 

 

 

Interest on Term Loan

0.859

1.050

0.841

0.757

0.591

 

 

 

 

 

 

Total Cash Outflow

1.909

2.058

1.891

1.807

1.641

 

 

 

 

 

 

DSCR

2.22

2.13

2.29

2.47

2.68

 

 

 

 

 

 

Average DSCR

2.95

 

------------------------------------------------------------------------------------------------------------------------------

 

BALANCE SHEET ANALYSIS

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

31.03.2020

(Projected)

ASSETS

 

 

 

 

 

PERIOD (In Months)

12

12

12

12

12

FIXED ASSETS:

 

 

 

 

 

Gross block

18.507

16.182

14.206

13.026

11.598

Depreciation

2.325

1.976

1.680

1.428

1.214

Revaluation reserves

0.000

0.000

0.000

0.000

0.000

NET BLOCK

16.182

14.206

12.526

11.598

10.384

Capital WIP

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

INVESTMENTS

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

Inventories

 

 

 

 

 

Raw Material

 

 

 

 

 

            Indigenous

3.011

3.118

3.266

3.641

3.861

            Imported

0.000

0.000

0.000

0.000

0.000

Stock in Progress

0.000

0.000

0.000

0.000

0.000

Finished Goods

0.000

0.000

0.000

0.000

0.000

Stores and Spares

0.000

0.000

0.000

0.000

0.000

Traded Products

0.000

0.000

0.000

0.000

0.000

Others (Packing Material)

0.000

0.000

0.000

0.000

0.000

 

3.011

3.118

3.266

3.641

3.861

 

 

 

 

 

 

DEBTORS

 

 

 

 

 

Over 6 Months

0.000

0.000

0.000

0.000

0.000

Export Receivables

0.000

0.000

0.000

0.000

0.000

Local Receivables

8.769

9.207

9.851

10.344

10.861

 

8.769

9.207

9.851

10.344

10.861

 

 

 

 

 

 

CASH AND BANK BALANCE

 

 

 

 

 

In Margin Money Account

0.000

0.000

0.000

0.000

0.000

Cash and Bank Balance

0.638

0.669

0.770

0.885

1.018

 

 

 

 

 

 

LOAN AND ADVANCES

 

 

 

 

 

Group Co./ Staff/ ICD’s

0.000

0.000

0.000

0.000

0.000

Suppliers and Others

0.000

0.594

0.624

0.655

0.688

 

 

 

 

 

 

OTHERS

 

 

 

 

 

Of Current Nature

0.000

0.000

0.000

0.000

0.300

Of Non-Current Nature

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

Total Current Assets

12.417

13.589

14.511

15.526

16.728

 

 

 

 

 

 

TOTAL ASSETS

28.599

27.795

27.037

27.124

27.113

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

Capital

 

 

 

 

 

Partners Capital

14.012

14.186

14.606

15.276

16.391

Addition In Capital By Partners

0.000

0.000

0.000

0.000

0.000

Quasi Equity (Non Refundable MEMB)

0.000

0.000

0.000

0.000

0.000

Reserves and Surplus

0.174

0.419

0.670

0.983

1.145

Debit Balance In Profit and Loss Account

0.000

0.000

0.000

0.000

0.000

Prel. Expenses/ MISC Expenses Not W/O

0.000

0.000

0.000

0.000

0.000

Revaluation Reserves

0.000

0.000

0.000

0.000

0.000

TANGIBLE NETWORTH 

14.186

14.606

15.276

16.259

17.535

Term Liabilities (>)Year

 

 

 

 

 

Term Loan

6.562

5.512

4.462

3.412

2.362

Deposits

0.000

0.000

0.000

0.000

0.000

Unsecured Loan

0.255

0.200

0.255

0.255

0.255

 

6.817

5.712

4.717

3.667

2.17

CURRENT LIABILITIES:

 

 

 

 

 

Creditors

3.881

3.687

3.294

3.233

3.060

Bank Over Draft

0.000

0.000

0.000

0.000

0.000

Working Capital Loan From Bank

2.500

2.500

2.500

2.500

2.500

Loan and Advances

0.000

0.000

0.000

0.000

0.000

Provisions

 

 

 

 

 

            Tax

0.100

0.125

0.200

0.250

0.350

            Others

0.065

0.115

0.000

0.165

0.000

Bank Borrowings

0.000

0.000

0.000

0.000

0.000

Term Loan Installments Due

0.000

0.000

0.000

0.000

0.000

LT Liabilities DUE Within 1 Year

1.050

1.050

1.050

1.050

1.050

Total Current Liabilities

7.596

7.477

7.044

7.198

6.960

 

 

 

 

 

 

TOTAL LABILITIES

28.599

27.795

27.037

27.124

27.112

 

------------------------------------------------------------------------------------------------------------------------------

 

INCOME STATEMENT

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

31.03.2020

(Projected)

SALES

 

 

 

 

 

Export

0.000

0.000

0.000

0.000

0.000

Domestic

17.186

18.904

20.794

22.874

25.161

 

17.186

18.904

20.794

22.874

25.161

Total Income

 

 

 

 

 

Export

0.000

0.000

0.000

0.000

0.000

Domestic

0.000

0.000

0.000

0.000

0.000

 

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

Gross sales (Including Taxes)

17.186

18.904

20.794

22.874

25.161

(-) Excises Duty And Sales Tax

0.000

0.000

0.000

0.000

0.000

NET SALES

17.186

18.904

20.794

22.874

25.161

Other Operating Income

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

TOTAL INCOME

17.186

18.904

20.794

22.874

25.161

 

 

 

 

 

 

EXPENSES:

 

 

 

 

 

Raw Material and Stores and Spares Consumed

 

 

 

 

 

Opening Stock

2.864

3.011

3.118

3.266

3.641

Purchase of Raw Materials and Stores

11.438

12.581

14.028

15.852

17.595

Closing Stock

3.011

3.118

3.266

3.641

3.861

 

11.291

12.474

13.881

15.476

17.376

 

 

 

 

 

 

Manufacturing/ Operating Expenses

0.903

1.123

1.388

1.548

1.738

(Increase)/ Decrease In WIP

0.000

0.000

0.000

0.000

0.000

Depreciation

2.325

1.976

1.680

1.428

1.214

Cost of Production

14.519

15.573

16.948

18.452

20.327

 

 

 

 

 

 

(Increase)/ Decrease In Finance Goods and Stores and Spares

0.000

0.000

0.000

0.000

0.000

Trading Activity

 

 

 

 

 

Opening Stock

0.000

0.000

0.000

0.000

0.000

Purchases

0.000

0.000

0.000

0.000

0.000

Closing stock

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

Cost of Sales

14.519

15.573

16.948

18.452

20.327

 

 

 

 

 

 

GROSS PROFITS

2.666

3.331

3.846

4.422

4.834

 

 

 

 

 

 

Personnel cost

0.102

0.128

0.160

1.840

0.212

Administration cost

0.298

0.372

0.465

0.535

0.615

Selling Expenses

0.095

0.119

0.148

0.171

0.196

Other Expenses (Financial Charges)

0.155

0.171

0.213

0.245

0.282

Interest

0.859

1.008

0.841

0.757

0.591

Operating Profit

1.157

1.534

2.018

2.531

2.939

Non-Operating Surplus/ (Deficit)

0.000

0.000

0.000

0.000

0.000

Interest to Partner

0.000

0.000

0.000

0.000

0.000

Remuneration to Partner

0.627

0.690

0.793

0.912

1.049

Profit Transfer to Partner

0.256

0.300

0.355

0.385

0.395

 

 

 

 

 

 

Profit Before Tax

0.274

0.544

0.870

1.233

1.495

 

 

 

 

 

 

Provision for Tax

0.100

0.125

0.200

0.250

0.350

 

 

 

 

 

 

PROFIT AFTER TAX

0.174

0.419

0.670

0.983

1.145

 

 

 

 

 

 

Dividend

 

 

 

 

 

Equity

0.000

0.000

0.000

0.000

0.000

Preference

0.000

0.000

0.000

0.000

0.000

Dividend Tax

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

Retained Earnings

0.174

0.419

0.670

0.983

1.145

 

 

 

 

 

 

Cash Generation

3.382

3.385

3.498

3.708

3.802

 

------------------------------------------------------------------------------------------------------------------------------

 

FINANCIAL RATIOS

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

31.03.2020

(Projected)

 

 

 

 

 

 

Growth In Net Sales (p.a.)

50.00%

10.00%

10.00%

10.00%

10.00%

Trading Sales/ Total Sales

0.00%

0.00%

0.00%

0.00%

0.00%

MATERIAL COST/ NET MFG. SALES

65.70%

65.98%

66.75%

67.66%

69.06%

 

 

 

 

 

 

MANUFACTURING COST/ NET SALES

5.26%

5.94%

6.68%

6.77%

6.91%

 

 

 

 

 

 

LIQUIDITY RATIOS

 

 

 

 

 

Current Ratio

1.63

1.82

2.06

2.16

2.40

Quick Ratio

1.24

1.40

1.60

1.65

1.85

CURRENT RATIO (EXCL. TL INSTT. AS CL)

1.90

2.11

2.42

2.53

2.83

 

 

 

 

 

 

TURNOVER RATIOS

 

 

 

 

 

Inventory (MTHS)

2.49

2.40

2.31

2.37

2.38

Trade Debtors  (MTHS)

 

 

 

 

 

Domestic

6.12

5.84

5.69

5.43

5.18

Export

0.00

0.00

0.00

0.00

0.00

Trade Creditors (MTHS)

4.07

3.52

2.82

2.45

2.09

 

 

 

 

 

 

LEVERAGE RATIOS

 

 

 

 

 

Debt-Equity

0.48

0.39

0.31

0.23

0.15

TOL/TNW

1.02

0.90

0.77

0.67

0.55

TOL/(TNW + Quasi Equity)

1.02

0.90

0.77

0.67

0.55

Interest Coverage

4.03

3.50

4.03

4.52

5.58

DSCR

1.76

1.65

1.69

1.72

1.80

Interest / Borrowings

10.92%

14.91%

14.58%

16.05%

16.12%

 

 

 

 

 

 

OPBDIT

3.458

3.529

3.391

3.418

3.299

 

 

 

 

 

 

PROFITABILITY RATIOS

 

 

 

 

 

Gross Margin

15.51%

17.62%

18.50%

19.33%

19.21%

Operating Margin

6.73%

8.12%

9.71%

11.06%

11.68%

Net Margin

1.01%

2.22%

3.22%

4.30%

4.55%

Return On capital Employed

11.18%

11.85%

11.81%

11.97%

11.65%

Return on Networth

1.23%

2.87%

4.39%

6.05%

6.53%

 

 

 

 

 

 

PBDIT

3.458

3.529

3.391

3.418

3.299

 

 

 

 

 

 

Plough back Ratio

100.00%

100.00%

100.00%

100.00%

100.00%

Payment Ratio

0.00%

0.00%

0.00%

0.00%

0.00%

 

------------------------------------------------------------------------------------------------------------------------------

 

WORKING CAPITAL ASSESSMENT

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

31.03.2020

(Projected)

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

Raw Materials

 

 

 

 

 

Indigenous

0.000

0.000

0.000

0.000

0.000

(Mths)

--

--

--

--

--

 

 

 

 

 

 

Raw Materials

3.011

3.118

3.266

3.641

3.861

(Mths)

(3.20)

(3.00)

(2.82)

(2.82)

(2.67)

 

 

 

 

 

 

Work in Progress

0.000

0.000

0.000

0.000

0.000

(Mths)

--

--

--

--

--

 

 

 

 

 

 

Finished Goods

0.000

0.000

0.000

0.000

0.000

(Mths)

--

--

--

--

--

 

 

 

 

 

 

Others

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

Sundry Debtors

 

 

 

 

 

Domestic

8.769

9.207

9.851

10.344

10.861

(Mths)

(6.12)

(5.84)

(5.69)

(5.43)

(5.18)

 

 

 

 

 

 

Export

0.000

0.000

0.000

0.000

0.000

(Mths)

--

--

--

--

--

 

 

 

 

 

 

Cash And Bank Balance

0.638

0.669

0.770

0.885

1.018

Advance

0.000

0.594

0.624

0.655

0.688

Others C A

0.000

0.000

0.000

0.000

0.300

 

 

 

 

 

 

TOTAL CURRENT ASSETS

12.417

13.589

14.511

15.526

16.728

 

 

 

 

 

 

Creditors

3.881

3.687

3.294

3.233

3.060

(Mths)

(4.07)

(3.52)

(2.82)

(2.45)

(2.09)

 

 

 

 

 

 

Others C.L. (Excel Bank Borrowings)

0.165

0.240

0.200

0.415

0.350

 

 

 

 

 

 

TOTAL CURRENT LIABILITIES 

4.046

3.927

3.494

3.648

3.410

 

 

 

 

 

 

W C Gap

8.371

9.662

11.017

11.878

13.318

 

 

 

 

 

 

25% Margin (Excel Export Debtors)

3.104

3.397

3.628

3.881

4.182

 

 

 

 

 

 

Actual/ Projected Net WC (CA-CL)

5.871

7.162

8.517

9.378

10.818

 

 

 

 

 

 

MPBF-I

5.267

6.265

7.389

7.996

9.136

MPBF-II

2.500

2.500

2.500

2.500

2.500

 

 

 

 

 

 

MPBF

2.500

2.500

2.500

2.500

2.500

 

 

 

 

 

 

EXCESS BORROWINGS

--

--

--

--

--

 

------------------------------------------------------------------------------------------------------------------------------

 

FINANCIAL INDICATORS

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

31.03.2020

(Projected)

 

 

 

 

 

 

Export sales

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

Domestic Sales

17.186

18.904

20.794

22.874

25.161

 

 

 

 

 

 

Net Sales Operating Profit

17.186

18.904

20.794

22.874

25.161

 

 

 

 

 

 

Operating Profit

3.458

3.529

3.391

3.418

3.299

 

 

 

 

 

 

Other Income

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

PBDIT

3.458

3.529

3.391

3.418

3.299

 

 

 

 

 

 

Depreciation and Amortisation

2.325

1.976

1.680

1.428

1.214

 

 

 

 

 

 

Interest and Financial Charges

1.014

1.179

1.054

1.002

0.873

 

 

 

 

 

 

Profit Before Tax (PBI)

0.274

0.544

0.870

1.233

1.495

 

 

 

 

 

 

Profit after Tax (PAT)

0.174

0.419

0.670

0.983

1.145

 

 

 

 

 

 

Cash Accruals

2.499

2.396

2.350

2.411

2.358

 

 

 

 

 

 

Share Capital

14.012

14.186

14.606

15.276

16.391

 

 

 

 

 

 

Reserves and Surplus

0.174

0.419

0.670

0.983

1.145

 

 

 

 

 

 

Misc. Exp. Not W/Off

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

TNW

14.186

14.606

15.276

16.259

17.535

 

 

 

 

 

 

USL as Quasi Equity

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

Adjusted TNW

14.186

14.606

15.276

16.259

17.535

 

 

 

 

 

 

TTL

6.817

5.712

4.717

3.667

2.617

 

 

 

 

 

 

TOL

14.413

13.189

11.761

10.865

9.577

 

 

 

 

 

 

Net Sales Growth %

50.00%

10.00%

10.00%

10.00%

10.00%

PBDIT Margin %

20.12%

18.67%

16.31%

14.94%

13.11%

PAT Margin %

1.01%

2.22%

3.22%

4.30%

4.55%

ROCE

5.40%

7.64%

8.56%

9.99%

10.35%

TOL/ TNW

1.02

0.90

0.77

0.67

0.55

Adj. TTL/ TNW

1.02

0.90

0.77

0.67

0.55

TTL/ TNW

0.48

0.39

0.31

0.23

0.15

Adj. TTL/ TNW

0.48

0.39

0.31

0.23

0.15

 

 

 

 

 

 

Current Ratio

1.63

1.82

2.06

2.016

2.40

Current Ratio w/o TL Inst.

1.90

2.11

2.42

2.53

2.83

Interest Coverage Ratio

4.03

3.50

4.03

4.52

5.58

 

------------------------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MR. NILESH B. PATEL

 

(RS. IN MILLION)

 

BANK

 

BANK

 

BRANCH

SB/ CD ACCOUNT NO.

The Saraswat Cooperative Bank Limited

Vadaj, Ahmedabad, Gujarat, India

366203100000456

 

 

 

 

 

DETAILS OF ASSETS

 

IMMOVABLE PROPERTY

 

Assets

Own /

Joint name

Area

Free hold or Lease hold

Location/

address

Purchase Cost

Present  Value

Whether encumbered

(Give details)

Non Agri. Land

 

 

 

 

 

 

 

i. Commercial

--

--

--

--

--

--

--

ii. Residential

Own

140

Free hold

A-1-203, Nilkanth Residency, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

2.500

4.800

Saraswat Bank

Flat / House

--

--

--

--

--

--

--

Agri. Land

--

--

--

--

--

--

--

Others

--

--

--

--

--

--

--

 

Self Occupied

 

VEHICLES

 

Type of Vehicle

Registration No.

Model

Year to make

Cost at the time of Purchase

Present Value

 

 

 

 

 

 

Four Wheeler

--

2008

Honda

0.200

0.100

 

 

 

 

 

 

Four Wheeler

--

2010

Accent

0.280

0.125

 

CAPITAL INVESTED IN BUSINESS

 

Name of the Firm/ Company

Amount in Million

 

 

Saffro Mellow Coating Resins

0.978

 

 

LIABILITIES

 

Borrowed from

Purpose of Loan

Amount of Loan

Security

Repayment Terms

 

 

 

 

 

 

Saraswat Bank

Home

0.900

Home

120 Months

 

 

LEGAL HEIRS

 

Name

 

Occupation

Relation

Age

Marital Status

Address

 

 

 

 

 

 

Geeta Patel

Business

Wife

36

Married

A/1/203, Nilkanth Residency, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

 

 

 

 

 

Pranav Patel

Study

Son

14

Unmarried

A/1/203, Nilkanth Residency, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

 

 

 

 

 

Vaibhav Patel

Study

Son

5

Unmarried

A/1/203, Nilkanth Residency, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

------------------------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MRS. SONALBEN P. GAMI

 

(RS. IN MILLION)

 

DETAILS OF ASSETS

 

CAPITAL INVESTED IN BUSINESS

 

Name of the Firm/ Company

Amount in Million

 

 

Saffro Mellow Coating Resins

0.877

 

 

LEGAL HEIRS

 

Name

 

Occupation

Relation

Age

Marital Status

Address

 

 

 

 

 

 

Pulkeshi Gami

Business

Husband 

35

Married

8, Upvan Bungalow, Near Manohar Villa Cross Road, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

 

 

 

 

 

Atharva Gami

Study

Son

10

Unmarried

8, Upvan Bungalow, Near Manohar Villa Cross Road, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

 

 

 

 

 

Aashlesha Gami

Study

Daughter 

8

Unmarried

8, Upvan Bungalow, Near Manohar Villa Cross Road, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

------------------------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MR. PULKESHI B. GAMI

 

(RS. IN MILLION)

 

BANK

 

BANK

 

BRANCH

SB/ CD ACCOUNT NO.

Axis Bank Limited

Law Garden Main Branch, Ahmedabad, Gujarat, India

452010100022905

 

 

 

 

 

DETAILS OF ASSETS

 

IMMOVABLE PROPERTY

 

Assets

Own /

Joint name

Area

Free hold or Lease hold

Location/

address

Purchase Cost

Present  Value

Whether encumbered

(Give details)

Non Agri. Land

 

 

 

 

 

 

 

i. Commercial

--

--

--

--

--

--

--

ii. Residential

Own

117 Sq. yds.

Free hold

8, Upvan Bungalow, Near Manohar Villa Cross Road, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

5.500

8.000

Axis Bank Limited Rs. 1.651 Million

Flat / House

--

--

--

--

--

--

--

Agri. Land

--

--

--

--

--

--

--

Others

--

--

--

--

--

--

--

 

Self Occupied

 

VEHICLES

 

Type of Vehicle

Registration No.

Model

Year to make

Cost at the time of Purchase

Present Value

 

 

 

 

 

 

Chevrolet Optra

GJ-2-AC-9993

--

2008

0.350

0.175

 

CAPITAL INVESTED IN BUSINESS

 

Name of the Firm/ Company

Amount in Million

 

 

Saffro Mellow Coating Resins

0.978

 

 

LIABILITIES

 

Borrowed from

Purpose of Loan

 

Amount of Loan

Security

 

 

 

 

Axis Bank Limited

Home Loan

1.651

Residence

 

 

LEGAL HEIRS

 

Name

 

Occupation

Relation

Age

Marital Status

Address

 

 

 

 

 

 

Sonalben Gami

Business

Wife  

35

Married

8, Upvan Bungalow, Near Manohar Villa Cross Road, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

 

 

 

 

 

Atharva Gami

Study

Son

10

Unmarried

8, Upvan Bungalow, Near Manohar Villa Cross Road, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

 

 

 

 

 

Aashlesha Gami

Study

Daughter 

8

Unmarried

8, Upvan Bungalow, Near Manohar Villa Cross Road, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

------------------------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MRS. SHITALBEN S. MAKVANA

 

(RS. IN MILLION)

 

BANK

 

BANK

 

BRANCH

SB/ CD ACCOUNT NO.

Bank of Baroda 

Viratnagar, Ahmedabad, Gujarat, India

31940100005155

 

 

 

 

 

DETAILS OF ASSETS

 

IMMOVABLE PROPERTY

 

Assets

Own /

Joint name

Area

Free hold or Lease hold

Location/

address

Purchase Cost

Present  Value

Whether encumbered

(Give details)

Non Agri. Land

 

 

 

 

 

 

 

i. Commercial

--

--

--

--

--

--

--

ii. Residential

Joint

125 Sq. yds.

Freehold

A-403, Madhav Residency, Viratnagar

2.100

4.500

Gruh Finance Loan

Flat / House

--

--

--

--

--

--

--

Agri. Land

--

--

--

--

--

--

--

Others

--

--

--

--

--

--

--

 

CAPITAL INVESTED IN BUSINESS

 

Name of the Firm/ Company

Amount in Million

 

 

Saffro Mellow Coating Resins

0.877

 

 

LIABILITIES

 

Borrowed from

Purpose of Loan

 

Amount of Loan

Security

Repayment Terms

 

 

 

 

 

Gruh Finance Loan

Home Loan

0.800

Residence

15 Years

 

 

LEGAL HEIRS

 

Name

 

Occupation

Relation

Age

Marital Status

Address

 

 

 

 

 

 

Subhash Makwana

Business

Husband   

43

Married

A-403, Madhav Residency, Viratnagar

 

 

 

 

 

 

Kirtan

Study

Son

16

Unmarried

A-403, Madhav Residency, Viratnagar

 

 

 

 

 

 

Anjali

Study

Daughter 

8

Unmarried

A-403, Madhav Residency, Viratnagar

 

------------------------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MR. SUBHASHCHANDRA M. MAKWANA

 

(RS. IN MILLION)

 

BANK

 

BANK

 

BRANCH

SB/ CD ACCOUNT NO.

 

 

 

ICICI Bank Limited

Sardar Patel Mall, Ahmedabad, Gujarat, India

093005000489

 

 

DETAILS OF ASSETS

 

IMMOVABLE PROPERTY

 

Assets

Own /

Joint name

Area

Free hold or Lease hold

Location/

address

Purchase Cost

Present  Value

Whether encumbered

(Give details)

Non Agri. Land

 

 

 

 

 

 

 

i. Commercial

--

--

--

--

--

--

--

ii. Residential

Own

125 Sq. yds.

Free hold

A-403, Madhav Residency, Viratnagar

2.100

4.500

Gruh Finance Loan 0.800 Million 9000 EMI

Flat / House

--

--

--

--

--

--

--

Agri. Land

--

--

--

--

--

--

--

Others

--

--

--

--

--

--

--

 

MOVABLE PROPERTY

 

Name of Company and Branch

Policy No.

Date of Issue

Sum Assured

Annual Premium

 

 

 

 

 

LIC

815681242

11.08.2011

0.030

0.003

 

 

 

 

 

LIC

815687845

15.04.2012

0.030

0.003

 

 

 

 

 

LIC

16822239

12.07.2012

5.000

0.017

 

 

 

 

 

--

1170823

16.08.2014

1.000

0.050

 

VEHICLES

 

Type of Vehicle

Registration No.

Model

Year to make

Cost at the time of Purchase

Present Value

 

 

 

 

 

 

Two Wheeler

--

Honda Splender

--

0.058

0.020

 

CAPITAL INVESTED IN BUSINESS

 

Name of the Firm/ Company

Amount in Million

Anupam Engineering

0.342

 

 

Saffro Mellow Coating Resins

0.978

 

 

LIABILITIES

 

Borrowed from

Purpose of Loan

 

Amount of Loan

Security

Repayment Terms

 

 

 

 

 

Gruh Finance Loan

Home Loan

0.800

Residence

15 Years

 

 

LEGAL HEIRS

 

Name

 

Occupation

Relation

Age

Marital Status

Address

 

 

 

 

 

 

Shitalben S. Makwana

Business

Wife  

43

Married

A-403, Madhav Residency, Viratnagar

 

 

 

 

 

 

Kirtan

Study

Son

16

Unmarried

A-403, Madhav Residency, Viratnagar

 

 

 

 

 

 

Anjali

Study

Daughter 

8

Unmarried

A-403, Madhav Residency, Viratnagar

 

------------------------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MRS. GITABEN N. PATEL

 

(RS. IN MILLION)

 

CAPITAL INVESTED IN BUSINESS

 

Name of the Firm/ Company

Amount in Million

 

 

Saffro Mellow Coating Resins

0.873

 

 

LEGAL HEIRS

 

Name

 

Occupation

Relation

Age

Marital Status

Address

 

 

 

 

 

 

Nilesh Patel

Business

Husband  

37

Married

A/1/203, Nilkanth Residency, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

 

 

 

 

 

Pranav Patel

Study

Son

14

Unmarried

A/1/203, Nilkanth Residency, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

 

 

 

 

 

Vaibhav Patel

Study

Son

5

Unmarried

A/1/203, Nilkanth Residency, Nikol Nava Naroda, Naroda, Ahmedabad – 382350, Gujarat, India

 

------------------------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MR. TUSHAR V. RAJPARA

 

(RS. IN MILLION)

 

BANK

 

BANK

 

BRANCH

SB/ CD ACCOUNT NO.

 

 

 

HDFC Bank Limited

Gurgaon, Haryana

00901050156971

 

 

DETAILS OF ASSETS

 

IMMOVABLE PROPERTY

 

Assets

Own /

Joint name

Area

Free hold or Lease hold

Location/

address

Purchase Cost

Present  Value

Whether encumbered

(Give details)

Non Agri. Land

 

 

 

 

 

 

 

i. Commercial

--

--

--

--

--

--

--

ii. Residential

Joint

125 Sq. yds.

Freehold

B-401, Madhav Residency, Viratnagar

2.100

4.500

Gruh Finance 0.800 Million, 9991/- EMI

Flat / House

--

--

--

--

--

--

--

Agri. Land

--

--

--

--

--

--

--

Others

--

--

--

--

--

--

--

 

Self Occupied

 

VEHICLES

 

Type of Vehicle

Registration No.

Model

Year to make

Cost at the time of Purchase

Present Value

Two Wheeler

--

Activa

2010

0.053

0.030

 

 

 

 

 

 

Four Wheeler

--

Honda

2008

0.375

0.150

 

CAPITAL INVESTED IN BUSINESS

 

Name of the Firm/ Company

Amount in Million

 

 

Saffro Mellow Coating Resins

0.978

 

 

LIABILITIES

 

Borrowed from

Purpose of Loan

 

Amount of Loan

Security

Repayment Terms

 

 

 

 

 

Gruh Finance Loan

Home Loan

0.800

Home 

191 Months

 

 

LEGAL HEIRS

 

Name

 

Occupation

Relation

Age

Marital Status

Address

 

 

 

 

 

 

Tejal Rajpara

Business

Wife  

34

Married

B-401, Madhav Residency, Viratnagar

 

 

 

 

 

 

Anayi Rajpara

--

Child

1.5

Child

B-401, Madhav Residency, Viratnagar

 

 

 

 

 

 

Ananya Rajpara

Study

Child

6

Child

B-401, Madhav Residency, Viratnagar

 

------------------------------------------------------------------------------------------------------------------------------

 

NETWORTH STATEMENT

 

MRS. TEJAL TUSHAR RAJPARA

 

(RS. IN MILLION)

 

BANK

 

BANK

 

BRANCH

SB/ CD ACCOUNT NO.

 

 

 

Bank of Baroda

Odhav, Ahmedabad

31940100005147

 

 

DETAILS OF ASSETS

 

IMMOVABLE PROPERTY

 

Assets

Own /

Joint name

Area

Free hold or Lease hold

Location/

address

Purchase Cost

Present  Value

Whether encumbered

(Give details)

Non Agri. Land

 

 

 

 

 

 

 

i. Commercial

--

--

--

--

--

--

--

ii. Residential

Joint

125 Sq. yds.

Freehold

B-401, Madhav Residency, Viratnagar

2.100

4.500

Gruh Finance 0.800 Million, 9991/- EMI

Flat / House

--

--

--

--

--

--

--

Agri. Land

--

--

--

--

--

--

--

Others

--

--

--

--

--

--

--

 

Self Occupied

 

MOVABLE PROPERTY

 

Policy No.

 

Sum Assured

Annual Premium

 

 

 

81567855

0.300

0.003

 

 

 

815696447

0.300

0.003

 

VEHICLES

 

Type of Vehicle

Registration No.

Model

Year to make

Cost at the time of Purchase

Present Value

Two Wheeler

--

Activa

2010

0.053

0.030

 

 

 

 

 

 

Four Wheeler

--

Honda

2008

0.375

0.150

 

CAPITAL INVESTED IN BUSINESS

 

Name of the Firm/ Company

Amount in Million

 

 

Saffro Mellow Coating Resins

0.877

 

 

LIABILITIES

 

Borrowed from

Purpose of Loan

 

Amount of Loan

Security

Repayment Terms

 

 

 

 

 

Gruh Finance Loan

Home Loan

0.800

Home 

191 Months

 

 

LEGAL HEIRS

 

Name

 

Occupation

Relation

Age

Marital Status

Address

 

 

 

 

 

 

Tushar Rajpara

Business

Husband  

36

Married

B-401, Madhav Residency, Viratnagar

 

 

 

 

 

 

Anayi Rajpara

--

Child

1.5

Child

B-401, Madhav Residency, Viratnagar

 

 

 

 

 

 

Ananya Rajpara

Study

Child

6

Child

B-401, Madhav Residency, Viratnagar

 

------------------------------------------------------------------------------------------------------------------------------

 

VALUATION REPORT

 

(GENERAL DETAILS)

 

Purpose for which valuation is made

To estimate the Fair Market Value of Non Agricultural Land along with allied construction situated at Block/ Survey No. 434/1, Near Pansoli – Navagam Dandi Road, Mouje: Navagam (Village), Taluka: Kheda, Sub District Kheda, District: Kheda

 

 

Date as on which valuation is made.

Market Value as on 20th June, 2015

 

 

Name of the owner/ owners.

Ownership of the property is as follows

 

Mr. Tushar Vallabhai Rajpara

Mr. Pulkesh Bavanjibhai Gami

Mr. Nilesh Babubhai Patel

Mr. Subhashchandra Mansukhlal Makwana

 

 

If the property is under joint ownership/ co-ownership-share of each such owner. Are the shares undivided?

Ownership is as above.

 

 

Brief description of property

Property under valuation is an Industrial Land along with allied construction situated at Block/ Survey no. 434/1, Near Pansoli –Navagam Dandi Road, Mouje: Navaga (Village), Tal: Kheda, Dist: Kheda including Main Production Building, Storage Shed, Labour Quarters, Security Cabin.

 

 

Location, Street, Ward No

Subject Property is located near Pansoli- Navagam Dandi Road, Near Navagam Village.

 

 

Survey/ Plot No. of Land.

Block/ Survey no. 434/1, Near Pansoli – Navagam Dandi Road, Mouje: Navaga (Village), Tal: Kheda, Dist: Kheda

 

 

Is the property situated in residential/ commercial/ mixed area/ industrial area?

Developing industrial area.

 

 

Classification of locality-high class/ middle class/ poor class.

Middle Class

 

 

Proximity to civic amenities like schools, hospitals, office, market, cinemas, etc.

All civic amenities are available within the vicinity of the subject property.

 

 

Means and proximity to surface communication by which the locality is served

By means of any vehicle either Private or Public.

 

 

LAND:

 

 

Area of land supported by documentary proof. Shape, dimensions and physical features.

Due to the large parcel of land and irregular shape of the land the physical measurement of the subject property land is not possible. Hence, for the land area of the subject property they have relied upon the documented area i.e. 3743 SMT or say 4477 SYD as mentioned in the copy of sale deed and same has been considered for this valuation exercise.

 

 

Roads, Streets or Lanes on which the land is abutting.

Property under valuation is abutting on internal road Near Pansoli Village leading towards Navagam village.

 

 

Is it freehold or leasehold land?

--

 

 

Is there any restrictive covenant in regard to use of land? If so, attach a copy of the covenant.

As per the copy of Permission letter vide Jaman/LND/NA/SR/134/Kalam65/2012/665 dated 20th April, 2013; the permissible usage of the subject property is for paint factory.

 

 

Are there any agreements of easements? If so, attach copies.

As per our visual observation at the time of site inspection, it is free from any easement.

 

 

Does the land fall in an area included in any Town Planning Scheme or any Development Plan of Government or any statutory body? If so, give particulars.

If falls within the limits of Mouje: Navaga (Village), Tal: Kheda, Dist: Kheda.

 

 

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Not Applicable

 

 

Has the Whole or part of the land been notified for acquisition by the Government or any statutory body? Give date of notification.

--

 

 

IMPROVEMENTS:

 

 

Is the building owner – occupied/ tenanted/ both?

Premises is owned and occupied by the owner:

 

 

If partly owner-occupied, specify portion and extent of area under owner-occupation.

# At the time of their site inspection, they have observed the subject property is known as M/s. Saffro Mellow coating & Resins Private Limited.

 

 

What is the Floor Index Permissible and percentage actually utilized?

Details pertaining to FSL are not available. However as per copy of approved building plan the maximum permissible built up area is 40% of total net plot area.

 

 

RENTS:

 

 

i) Name of tenants/lessees/licensees, etc.

 

ii) Portions in their occupation.

 

iii) Monthly or annual rent/ compensation Licence fee, etc., paid by each.

 

iv) Gross Amount received for the whole property.

Not Applicable.

 

 

 

Are any of the occupants related to, or close business associates of the owner?

--

 

 

Is Separate amount being recovered for the use of fixture, like fans, geysers, refrigerators, cooking ranges, built-in-wardrobes, etc. or for service charges? If so give details.

Not Applicable.

 

 

 

Give details of water and electricity charges, if any, to be borne by owner.

Details are not available.

 

 

Has the tenant to bear the whole or part of the cost of repairs and maintenance? Give particulars.

Not Applicable.

 

 

If a lift is installed, who has to bear the cost of maintenance and operation- owner or tenants?

Not Applicable.

 

 

If a pump is installed, who has to bear the cost of maintenance and operation- owner or tenants?

Details are not available.

 

 

Who has to bear the cost of electricity charges of lighting of common space like entrance hall, stairs, passage, compound etc., -owner or tenant?

Not Applicable.

 

 

What is the amount of property tax? Who is to bear it? Give details.

Details are not available.

 

 

Is the building insured? If so, give the policy number, amount for which it is insured and the annual premium.

Details are not available.

 

 

Is any dispute between landlord and tenant regarding rent pending in a court of law?

Not Applicable.

 

 

Has any standard rent been fixed for the property under any law relating to the control of law?

Not Applicable.

 

 

SALES:

 

 

Land rate adopted in this valuation.

Rs. 820/- per SYD

 

 

COST OF CONSTRUCTION:

 

 

Year of commencement of construction and year of completion.

As per the verbal information provided by the client; The building and misc. civil structure constructed there on the subject property is 1 year old.

 

 

What was the method of construction by contract/ by employing labour direct/ both?

Details are not available.

 

 

For items of work done on contract, produce copies or agreements.

--

 

 

For items of work done by engaging labor directly, give basic rate of materials and labour supported by documentary proof.

--

 

 

 

Land Rent Analysis:

 

Factors

Discount/ Premium

Rate

Quoted Market Rate

 

Rs. 700/- per SYD

Premium for Converting Agricultural land into Non Agricultural

 

Rs. 700/- per SYD

Add: 10% for the topography and levelling of subject property compare to available instance.

10%

Rs. 700/- per SYD

Derived Market Rate

Rs. 700/- per SYD

 

 

Market Value of Land  = Area (SYD) * Rate (Rs./ SYD)

                                      = 4477 * Rs. 820/-

                                      = Rs. 3.671 Million ………..(I)

 

Valuation of Building

 

Depreciated Replacement Cost of Building & Misc. structure is Rs. 10.400 Million ………..(II)

 

Therefore, market Value of the property works out as follows:-

Market Value of the Land…………………………(I)    Rs. 3.671 Million

 

Depreciated Replacement Cost of Building…..(II)   Rs. 10.400 Million

 

Total Value of the Property                           Rs. 14.071 Million

 

Or say Rs. 14.100 Million

 

A.  Valuation of Land

 

Land Area = 3743 SMT

 

Jantry Value = Rs. 750/- per SMT

 

Land Value

 

Land Area (SMT)

X

Jantry Rate (Rs. /SMT)

3743 SMT

X

Rs. 750/-

Rs. 2.807  Million             …………..(i)

 

 

B. Valuation of Building (For Main Industrial Buildings/ Units)

 

Therefore, Jantry Value of the property works out as follows:-

 

Jantry Value of the land….(B) Rs. 2.807  Million

 

Depreciated Replacement Cost of Building (Annexure B)  Rs. 10.400 Million

 

Total Value of the Premises                                 Rs. 13.207 Million

 

Or say Rs. 13.200 Million

 

PARTICULARS

 

AMOUNT IN MILLION

Market Value

Rs. 14.100 Million

 

 

Jantry Value

Rs. 13.200 Million

 

 

Realizable Value

Rs. 11.300 Million

 

 

Distress Value

Rs. 9.000 Million

 

------------------------------------------------------------------------------------------------------------------------------

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 64.00

UK Pound

1

Rs. 99.43

Euro

1

Rs. 70.61

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

3

--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

NO

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

43

 

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

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.