MIRA INFORM REPORT
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Report No. : |
324853 |
|
Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
G T P GRANITES LIMITED |
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|
|
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Registered
Office : |
No. 4/36, Bharathi Street, Swarnapuri, Salem – 636004, Tamilnadu |
|
Tel. No.: |
91-427-2346392 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
29.05.1990 |
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|
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Com. Reg. No.: |
18-002722 |
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Capital
Investment / Paid-up Capital : |
Rs. 38.164
Million |
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|
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CIN No.: [Company Identification
No.] |
U14102TZ1990PLC002722 |
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|
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|
IEC No.: |
3292000441 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEG05934F |
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PAN No.: [Permanent Account No.] |
AAACG7711K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Granite Monuments, Granite Rough Blocks, Slabs, Tiles etc. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1170000 |
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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 established company incorporated in May 1990 and it is
having satisfactory track record. During the year 2014, company have achieved Rs. 44.48 crore sales
turnover and reported 6.43% top line growth. Profitability of the company
stood at 3.26% backed by its debt to equity at 0.38 times. The rating however favorable factor on established track record in
granite business and healthy financial of the company. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of healthy financial backed by decent capital structure, the company
can be considered for the business dealings with its 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
March 2015 |
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. Siva Subramanian |
|
Designation : |
Whole-time director |
|
Contact No.: |
91-9443238188 |
|
Date : |
30.05.2015 |
LOCATIONS
|
Registered Office : |
No. 4/36, Bharathi Street, Swarnapuri, Salem – 636004, Tamilnadu,
India |
|
Tel. No.: |
91-427-2346392-6 |
|
Mobile No.: |
91-9443238188 (Mr. Siva Subramaniam) |
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Fax No.: |
91-427-2346303/ 4 |
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E-Mail : |
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Website : |
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Factory 1 : |
151/1, Jagirammapalayam, Mamangam, Salem – 636302, Tamilnadu, India |
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Factory 2 : |
63/1C, Vellakkalpatty Chettichavadi Post, Omalur Taluk, Salem District, Tamilnadu, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sengoda Gounder Muthurajan |
|
Designation : |
Managing director |
|
Address : |
134, Manickavasagar Street, Balaji Nagar, Fairlands, Salem – 636016,
Tamilnadu, India |
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Date of Birth/Age : |
03.08.1947 |
|
Date of Appointment : |
02.09.1996 |
|
DIN No.: |
00047437 |
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|
|
|
Name : |
Mr. Kumaraswamy Kamalakannan |
|
Designation : |
Whole-time director |
|
Address : |
1/367, Thirumular St. P&T Colony West, Alagapuram, Salem – 636016,
Tamilnadu, India |
|
Date of Birth/Age : |
30.07.1963 |
|
Date of Appointment : |
02.09.1996 |
|
DIN No.: |
01824768 |
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|
|
|
Name : |
Mr. Jebamani Jaya Singh |
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Designation : |
Whole-time director |
|
Address : |
16, Indira Nagar, Judge Road, Salem – 636008, Tamilnadu, India |
|
Date of Birth/Age : |
11.12.1942 |
|
Date of Appointment : |
20.07.1995 |
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DIN No.: |
00047498 |
|
|
|
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Name : |
Mr. Siva Subramanian |
|
Designation : |
Whole-time director |
|
Address : |
84, Green Lands, Nagarmalai Road, Alagapuram, Salem – 636016,
Tamilnadu, India |
|
Date of Birth/Age : |
17.10.1956 |
|
Date of Appointment : |
20.07.1995 |
|
DIN No.: |
01824835 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
S. Muthurajan |
|
3265948 |
|
K. Muthusamy |
|
11 |
|
K. Kamalakkannan |
|
1011 |
|
S. Manickam |
|
1000 |
|
M. Baby Saroja |
|
93500 |
|
Arora Trading Limited, Jersey |
|
452978 |
|
M. Ashokraj |
|
1000 |
|
M. Ramya |
|
1000 |
|
|
|
|
|
Total |
|
3816448 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
12.00 |
|
Directors
or relatives of directors |
88.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Granite Monuments, Granite Rough Blocks, Slabs, Tiles etc. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· USA · China · UK · New Zealand |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· China · Germany |
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Terms : |
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Selling : |
Cash and Credit (30 Days, 60 Days and 90 Days) |
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Purchasing : |
Cash and Credit (30 Days, 60 Days and 90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
The Karnataka Bank Limited Divya Towers, Fort Main Road, Salem - 636001,
Tamilnadu, India ·
The Lakshmi Vilas Bank Limited 62-63, Bazaar Street, Salem - 636001, Tamilnadu,
India ·
Punjab National Bank 774, Oppanakkara Street, Coimbatore - 641001,
Tamilnadu, India |
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Facilities : |
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Financial Institutions : |
· Tata Capital Limited One Forbes, Dr V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India · Bajaj Finance Limited Akurdi Pune, Pune - 411035, Maharashtra, India |
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Auditors : |
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|
Name : |
Palraj and Senthil Chartered Accountants |
|
Address : |
Ganesh Towers First Floor, SKS Hospital Kaliya Pillai Thoppu,
Fairlands, Salem – 636004, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFP5453M |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary company : |
· SMA Wind Energy Private Limited [U40108TZ2012PTC018635] · GTP Wind Energy Private Limited [U40108TZ2012PTC018649] |
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Associate company : |
· GTP Infotech Solutions Limited · GTP Finance Limited |
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Enterprises owned by
Key Managerial Personnel / Relative of Key Managerial Personnel : |
· Ashok Granites Limited · GTP Exports Private Limited · GTP Ceramics Private Limited · GTP Artefacts |
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Joint Venture : |
Stonart International Inc, Canada |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 70.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,816,448 |
Equity Shares |
Rs. 10/- each |
Rs. 38.164
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
38.164 |
38.164 |
38.164 |
|
(b) Reserves & Surplus |
371.557 |
357.040 |
348.791 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.482 |
0.482 |
|
Total
Shareholders’ Funds (1) + (2) |
409.721 |
395.686 |
387.437 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
9.298 |
8.951 |
15.931 |
|
(b) Deferred tax liabilities (Net) |
11.366 |
11.383 |
21.269 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
2.624 |
|
(d)
long-term provisions |
2.206 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
22.870 |
20.334 |
39.824 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
147.809 |
87.458 |
108.705 |
|
(b)
Trade payables |
13.900 |
11.984 |
11.338 |
|
(c)
Other current liabilities |
16.859 |
18.989 |
22.204 |
|
(d)
Short-term provisions |
0.119 |
3.781 |
0.937 |
|
Total
Current Liabilities (4) |
178.687 |
122.212 |
143.184 |
|
|
|
|
|
|
TOTAL |
611.278 |
538.232 |
570.445 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
128.283 |
126.800 |
170.119 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.417 |
0.000 |
0.034 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
61.125 |
61.125 |
16.675 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
7.862 |
6.742 |
43.710 |
|
(e)
Other Non-current assets |
85.272 |
79.503 |
48.708 |
|
Total
Non-Current Assets |
282.959 |
274.170 |
279.246 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
114.712 |
94.148 |
115.781 |
|
(c)
Trade receivables |
104.434 |
82.761 |
125.314 |
|
(d)
Cash and cash equivalents |
4.712 |
2.816 |
2.538 |
|
(e)
Short-term loans and advances |
104.461 |
84.337 |
47.566 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
328.319 |
264.062 |
291.199 |
|
|
|
|
|
|
TOTAL |
611.278 |
538.232 |
570.445 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
444.094 |
414.682 |
426.724 |
|
|
|
Other Income |
0.708 |
3.249 |
0.573 |
|
|
|
TOTAL (A) |
444.802 |
417.931 |
427.297 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
156.711 |
173.573 |
173.785 |
|
|
|
Purchases of Stock-in-Trade |
38.803 |
16.789 |
37.332 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(5.040) |
6.360 |
(6.218) |
|
|
|
Employees benefits expense |
43.332 |
37.133 |
41.781 |
|
|
|
Other expenses |
168.448 |
144.833 |
142.971 |
|
|
|
TOTAL (B) |
402.254 |
378.688 |
389.651 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
42.548 |
39.243 |
37.646 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.720 |
14.938 |
18.797 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
26.828 |
24.305 |
18.849 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.345 |
12.437 |
12.674 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
18.483 |
11.868 |
6.175 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.965 |
3.619 |
0.734 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14.518 |
8.249 |
5.441 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports on FOB basis |
428.751 |
384.256 |
380.734 |
|
|
|
Insurance and freight |
6.759 |
6.231 |
6.495 |
|
|
TOTAL EARNINGS |
435.510 |
390.487 |
387.229 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Polishing materials and consumable spares |
4.981 |
6.299 |
6.146 |
|
|
|
Material for Segments Manufacturing |
1.990 |
0.805 |
4.424 |
|
|
|
Machinery Spares |
0.249 |
0.128 |
0.280 |
|
|
|
Rough Granite Blocks |
35.842 |
27.479 |
26.385 |
|
|
TOTAL IMPORTS |
43.062 |
34.711 |
37.235 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.80 |
2.16 |
1.43 |
|
Expected Sales (2014-2015): Rs. 500.000 Million
The above information has been parted by Mr. Siva Subramanian (Director)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current
Maturities of Long term debt |
|
|
|
|
From Banks - Lakshmi Vilas Bank Limited |
0.000 |
0.000 |
4.890 |
|
- Karnataka Bank Limited |
3.600 |
3.600 |
3.600 |
|
From Others - Bajaj Finance Limited |
0.000 |
0.167 |
0.423 |
|
- Tata Capital Limited |
1.339 |
4.057 |
4.525 |
|
- HDFC Bank Limited |
2.787 |
0.000 |
0.000 |
|
Total |
7.726 |
7.824 |
13.438 |
|
|
|
|
|
|
Cash Generated from operations |
(25.460) |
74.242 |
31.866 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.27 |
1.99 |
1.28 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.58 |
9.46 |
8.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.36 |
2.49 |
1.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.03 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.40 |
0.26 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84 |
2.16 |
2.03 |
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
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
38.164 |
38.164 |
38.164 |
|
Reserves & Surplus |
348.791 |
357.040 |
371.557 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.482 |
0.482 |
|
Net
worth |
386.955 |
395.686 |
410.203 |
|
|
|
|
|
|
Long-term borrowings |
15.931 |
8.951 |
9.298 |
|
Short term borrowings |
108.705 |
87.458 |
147.809 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
13.438 |
7.824 |
7.726 |
|
Total
borrowings |
138.074 |
104.233 |
164.833 |
|
Debt/Equity ratio |
0.357 |
0.263 |
0.402 |
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 |
426.724 |
414.682 |
444.094 |
|
|
|
(2.822) |
7.093 |
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 |
426.724 |
414.682 |
444.094 |
|
Profit |
5.441 |
8.249 |
14.518 |
|
|
1.28% |
1.99% |
3.27% |
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 |
No |
|
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10516216 |
04/08/2014 |
2,288,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C17611385 |
|
2 |
10512711 |
04/08/2014 |
8,304,120.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C14918395 |
|
3 |
10479485 |
21/02/2014 |
8,400,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B97156632 |
|
4 |
10291415 |
21/05/2011 |
5,580,000.00 |
TATA CAPITAL
LIMITED |
ONE FORBES, DR V B
GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B14719165 |
|
5 |
10274391 |
07/02/2011 |
525,000.00 |
BAJAJ FINANCE
LIMITED |
AKURDI PUNE-,
PUNE, MAHARASHTRA - 411035, INDIA |
B08440547 |
|
6 |
10263551 |
30/11/2010 |
5,580,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B
GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B00486076 |
|
7 |
10249718 |
23/10/2010 |
1,697,094.00 |
TATA CAPITAL
LIMITED |
ONE FORBES, DR V B
GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A98482748 |
|
8 |
10245033 |
29/09/2010 |
15,000,000.00 |
THE KARNATAKA BANK
LIMITED |
DIVYA TOWERS, FORT
MAIN ROAD, SALEM, TAMIL NADU - |
A96979927 |
|
9 |
10245037 |
29/09/2010 |
15,000,000.00 |
THE KARNATAKA BANK
LIMITED |
DIVYA TOWERS, FORT
MAIN ROAD, SALEM, TAMIL NADU - |
A96980172 |
|
10 |
10245038 |
29/09/2010 |
18,000,000.00 |
THE KARNATAKA BANK
LIMITED |
DIVYA TOWERS, FORT
MAIN ROAD, SALEM, TAMIL NADU - |
A96980404 |
|
11 |
10226972 |
04/06/2010 |
10,000,000.00 |
THE LAKSHMI VILAS
BANK LIMITED |
62-63, BAZAAR
STREET, SALEM, TAMIL NADU - 636001, INDIA |
A88307632 |
|
12 |
10162027 |
23/05/2009 |
10,000,000.00 |
THE LAKSHMI VILAS
BANK LIMITED |
62-63, BAZAAR
STREET, SALEM, TAMIL NADU - 636001, INDIA |
A63836563 |
|
13 |
10162033 |
23/05/2009 |
10,000,000.00 |
THE LAKSHMI VILAS
BANK LIMITED |
62-63, BAZAAR
STREET, SALEM, TAMIL NADU - 636001, INDIA |
A63836639 |
|
14 |
10133096 |
20/11/2008 |
486,012.00 |
THE LAKSHMI VILAS
BANK LIMITED |
62-63, BAZAAR STREET,
SALEM, TAMIL NADU - 636001, INDIA |
A52534005 |
|
15 |
10133095 |
20/11/2008 |
1,283,162.00 |
THE LAKSHMI VILAS
BANK LIMITED |
62-63, BAZAAR
STREET, SALEM, TAMIL NADU - 636001, INDIA |
A52533890 |
|
16 |
90008503 |
11/09/1997 |
1,012,600.00 |
MS LAKSHMI GENERAL
FINANCE LIMITED |
21; PATULLOS ROAD,
CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
17 |
90008448 |
29/01/1997 |
959,010.00 |
MS LAKSHMI GENERAL
FINANCE LIMITED |
21 PATULIOS ROAD,
MADRAS, TAMIL NADU - 600002, INDIA |
- |
|
18 |
90008442 |
03/01/1997 |
1,072,000.00 |
MS LAKSHMI GENERAL
FINANCE LIMITED |
21 PATULIOS ROAD,
MADRAS, TAMIL NADU - 600002, INDIA |
- |
|
19 |
90008410 |
20/08/1996 |
30,300,000.00 |
THE LAKSHMI VILAS
BANK LIMITED |
21 PATULIOS ROAD,
MADRAS, TAMIL NADU - 600002, INDIA |
- |
|
20 |
90008374 |
06/04/1996 |
2,278,000.00 |
MS LAKSHMI GENERAL
FINANCE LIMITED |
21 PATULIOS ROAD,
MADRAS, TAMIL NADU - 600002, INDIA |
- |
|
21 |
90008367 |
27/03/1996 |
37,500,000.00 |
THE LAKSHMI VILAS
BANK LIMITED |
62--63 BAZAAR STREET,
SALEM, TAMIL NADU - 636001, INDIA |
- |
|
22 |
90008364 |
22/03/1996 |
1,206,000.00 |
THE LAKSHMI
GENERAL FINANCE LIMITED |
21 PATULLOS ROAD,
MADRAS, TAMIL NADU - 600002, INDIA |
- |
|
23 |
90008362 |
21/03/1996 |
536,000.00 |
THE LAKSHMI GENERAL
FINANCE LIMITED |
21 PATULLOS ROAD,
MADRAS, TAMIL NADU - 600002, IND |
- |
|
24 |
90008359 |
12/03/1996 |
703,500.00 |
THE LAKSHMI
GENERAL FINANCE LIMITED |
21; PATULLOS ROAD,
MADRAS, TAMIL NADU - 600002, INDIA |
- |
|
25 |
90008215 |
30/05/2002 * |
111,300,000.00 |
THE LAKSHMI
GENERAL FINANCE LIMITED |
62--63 BAZAAR
STREET, LALEM, TAMIL NADU - 636001, |
- |
|
26 |
90008188 |
19/07/1994 |
612,500.00 |
THE LAKSHMI
GENERAL FINANCE LIMITED |
21PATTULOS ROAD, MADRAS,
TAMIL NADU - 600002, INDIA |
- |
|
27 |
90008070 |
29/07/1992 |
22,500,000.00 |
ALLAHABAD BANK |
SALEM BRANCH 104--
A ARUNACHALA, ASARI STREET, SALEM, TAMIL NADU - 636001, INDIA |
- |
* Date of charge modification
CORPORATE
INFORMATION
Subject
is a closely held limited company domiciled in India and incorporated under the
Companies Act, 1956. The company manufactures granite monuments and slabs at
its 100% Export oriented units and exports them. The company owns and operates
wind electric generator and power generated is captively consumed and partly
sold.
OPERATIONS
The
turnover for the year amounted to Rs. 444.094 Million as against Rs. 414.682
Million during the previous year. Net profit for the year stood at Rs. 14.518
Million after providing for interest, depreciation and tax.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Import Letter of Credit and Bank Guarantee |
|
|
|
Disputed Excise duty |
0.461 |
0.461 |
|
Disputed Service Tax |
1.419 |
0.000 |
|
Disputed income tax liability |
2.885 |
2.885 |
|
|
|
|
|
Total |
4.765 |
3.346 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant Machinery
·
Electrical Installations
·
Furniture and Fixtures
·
Vehicles
·
Office equipment
·
Computer
·
Miscellaneous Assets
·
Wind Electric Generators
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. 63.83 |
|
|
1 |
Rs. 97.10 |
|
Euro |
1 |
Rs. 69.74 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--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.