MIRA INFORM REPORT
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Report No. : |
341863 |
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Report Date : |
07.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
JASSMINE MULTITRADE PRIVATE LIMITED (w.e.f. 14.05.2013) |
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Formerly Known
As : |
JASSMINE
EXPORT AND IMPORT PRIVATE LIMITED |
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Registered
Office : |
Office No.40, Ground Floor, Ashoka Shopping Centre, L.T. Marg, Near
G.T. Hospital, Crowford Market, Mumbai – 400001, Maharashtra |
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Tel. No.: |
91-22-22690005 |
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Country : |
India |
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Financials (as
on) : |
31.08.2015 |
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Date of
Incorporation : |
25.02.2013 |
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Com. Reg. No.: |
11-240711 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U51909MH2013PTC240711 |
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IEC No.: |
0315021861 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCJ0898F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of different types of Fabrics, Scarfs, Duppattas,
Kurtis, Salwar, Dress Material, Suiting etc. |
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No. of Employees
: |
8 (Approximately) [In Office 6 + In Godown 2] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company, incorporated in the year 2013.
The company has commence its business operations from February 2015. It is
the trader of fabrics. As per available financials of August-2015, the company has reported
satisfactory scales of operations marked by good sales turnover and zero debt
balance sheet profile. The rating is constrained on account of company’s moderate financial
base and limited business track record. Trade relations are fair. Business is active. Payments are slow but
correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Abhishek Kumar |
|
Designation : |
Manager |
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Contact No.: |
91-9833152906 |
|
Date : |
28.09.2015 |
LOCATIONS
|
Registered Office : |
Office No.40, Ground Floor, Ashoka Shopping Centre, L.T. Marg, Near
G.T. Hospital, Crowford Market, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22690005 / 0008 |
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Mobile No.: |
91-9833152906 (Mr. Abhishek Kumar) |
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Fax No.: |
91-22-22690005 |
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E-Mail : |
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Location : |
Rented |
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Work / Godown: |
Godown No.4, Village Dhutum, Dronagiri, JNPT, Navi Mumbai – 400707,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Mukesh Kumar Sobhalal Gadhiya |
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Designation : |
Director |
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Address : |
B-103, Bhushan Heritage, Padma Nagar, Borivali (West), Mumbai - 400092, Maharashtra, India |
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Date of Birth/Age : |
01.01.1979 |
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Qualification : |
B.Com |
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Experience : |
36 Years |
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Date of Appointment : |
28.08.2014 |
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PAN No.: |
AMNPG6356N |
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DIN No.: |
02303481 |
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Other Directorship:
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Name : |
Mr. Shyam Sundar Gulabray Motwani |
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Designation : |
Additional Director |
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Address : |
702, 7th Floor, Maan Niketan Building, Rajan Pada, Near Toyota Showroom, Malad (West), Mumbai - 400064, Maharashtra, India |
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Date of Birth/Age : |
28.01.1963 |
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Qualification : |
BA |
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Experience : |
30 Years |
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Date of Appointment : |
20.08.2014 |
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PAN No.: |
BJZPM8792E |
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KEY EXECUTIVES
|
Name : |
Mr. Abhishek Kumar |
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Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Shyam Sundar Gulabray Motwani |
5000 |
50.00 |
|
Mukesh Kumar Sobhalal Gadhiya |
5000 |
50.00 |
|
Total |
10000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of different types of Fabrics, Scarfs, Duppattas,
Kurtis, Salwar, Dress Material, Suiting 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 Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Credit (90 Days) |
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Purchasing : |
Credit (30 Days ) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
8 (Approximately) [In Office 6 + In Godown 2] |
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Bankers : |
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Auditors 1: |
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Name : |
Nimesh Diyora and Associates Chartered Accountants |
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Mobile No.: |
91-9920012081 |
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Auditors 2: |
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Name : |
Mohandas and Company Chartered Accountants |
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Address : |
Plot No.69, Road No.1, Jawahar Nagar, Behind Saikripa Hotel, Goregaon (West),
Mumbai – 400062, Maharashtra, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate Concern: |
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CAPITAL STRUCTURE
AS ON 31.08.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.0.100 Million
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.08.2015 (5 Months) |
31.03.2015 (12 Months) |
31.03.2014 |
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I.
EQUITY AND LIABILITIES |
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(1) Shareholders' Funds |
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(a) Share Capital |
0.100 |
0.100 |
0.100 |
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(b) Reserves &
Surplus |
1.878 |
0.319 |
0.089 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
13.500 |
1.500 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
15.478 |
1.919 |
0.189 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current Liabilities
(3) |
0.000 |
0.000 |
0.000 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade payables |
50.326 |
5.041 |
0.000 |
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(c) Other current
liabilities |
0.525 |
0.025 |
0.000 |
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(d) Short-term provisions |
0.046 |
0.150 |
0.046 |
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Total Current Liabilities
(4) |
50.897 |
5.216 |
0.046 |
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TOTAL |
66.375 |
7.135 |
0.235 |
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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 |
0.064 |
0.064 |
0.000 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.016 |
0.021 |
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Total Non-Current Assets |
0.064 |
0.080 |
0.021 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
6.489 |
4.423 |
0.000 |
|
(c) Trade receivables |
59.129 |
2.478 |
0.000 |
|
(d) Cash and cash
equivalents |
0.333 |
0.154 |
0.214 |
|
(e) Short-term loans and
advances |
0.025 |
0.000 |
0.000 |
|
(f) Other current assets |
0.335 |
0.000 |
0.000 |
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Total Current Assets |
66.311 |
7.055 |
0.214 |
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|
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TOTAL |
66.375 |
7.135 |
0.235 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.08.2015 (5 Months) |
31.03.2015 (12 Months) |
31.03.2014 |
|
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SALES |
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|
Income |
104.252 |
19.215 |
2.875 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL |
104.252 |
19.215 |
2.875 |
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|
Less |
EXPENSES |
|
|
|
|
|
Purchase |
103.889 |
22.823 |
2.265 |
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Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.065) |
(4.423) |
0.000 |
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Employees benefits
expense |
0.875 |
0.241 |
0.211 |
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Other expenses |
0.098 |
0.225 |
0.259 |
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TOTAL |
102.797 |
18.866 |
2.735 |
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Less |
PROFIT/ (LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION |
1.455 |
0.349 |
0.140 |
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|
Less |
FINANCIAL EXPENSES |
0.000 |
0.000 |
0.000 |
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PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.455 |
0.349 |
0.140 |
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|
Less/ Add |
DEPRECIATION/ AMORTISATION |
0.000 |
0.015 |
0.005 |
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PROFIT/ (LOSS) BEFORE TAX |
1.455 |
0.334 |
0.135 |
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Less |
TAX |
0.000 |
0.103 |
0.046 |
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PROFIT/ (LOSS) AFTER TAX |
1.455 |
0.231 |
0.089 |
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|
Earnings / (Loss) Per
Share (Rs.) |
14.50 |
23.09 |
8.85 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.08.2015 (5 Months) |
31.03.2015 (12 Months) |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.08.2015 (5 Months) |
31.03.2015 (12 Months) |
31.03.2014 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.40 |
1.20 |
3.10 |
|
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|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.40 |
1.82 |
4.87 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.19 |
4.68 |
57.45 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.17 |
0.71 |
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Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
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|
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|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.35 |
4.65 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 (12 Months) |
31.08.2015 (5 Months) |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.089 |
0.319 |
1.878 |
|
Share Application money pending
allotment |
0.000 |
1.500 |
13.500 |
|
Net worth |
0.189 |
1.919 |
15.478 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015
(12
Months) |
31.08.2015
(5
Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2.875 |
19.215 |
104.252 |
|
|
|
568.348 |
442.555 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015
(12 Months) |
31.08.2015
(5 Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2.875 |
19.215 |
104.252 |
|
Profit |
0.089 |
0.231 |
1.455 |
|
|
3.10% |
1.20% |
1.40% |
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 |
Yes |
|
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 about two years
and five months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last about two years and
five months |
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 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING
CAPITAL REQUIREMENTS
OPERATING STATEMENT
(RS. IN MILLION)
|
PARTICULARS |
31.03.2016 (Estimated) |
31.03.2017 (Projected) |
31.03.2018 (Projected) |
|
|
|
|
|
|
Gross sales (value) |
300.000 |
350.000 |
400.000 |
|
|
|
|
|
|
Net sales (value) |
|
|
|
|
Domestic |
150.000 |
100.000 |
50.000 |
|
Exports |
150.000 |
250.000 |
350.000 |
|
Other Income |
-- |
-- |
-- |
|
Total Income |
300.000 |
300.000 |
400.000 |
|
|
|
|
|
|
Cost of production
/ Sales |
|
|
|
|
Consumption of Raw Material |
306.500 |
329.000 |
374.500 |
|
Consumption of Spares and Tools |
-- |
-- |
-- |
|
Employee Benefit Expenses |
-- |
-- |
-- |
|
Purchase of Finished Goods |
-- |
-- |
-- |
|
Depreciation |
0.009 |
0.007 |
0.005 |
|
Other Trading Expenses |
-- |
-- |
-- |
|
Add: Opening stock of WIP |
-- |
-- |
-- |
|
Less : Closing stock of WIP |
-- |
-- |
-- |
|
Cost of production |
306.509 |
329.007 |
374.505 |
|
Add: Opening stock of Finished Goods |
4.423 |
27.500 |
31.500 |
|
Less: Closing stock of Finished Goods |
27.500 |
31.500 |
36.000 |
|
Cost of sales |
283.432 |
325.007 |
370.005 |
|
|
|
|
|
|
Operating profit |
16.568 |
24.993 |
29.995 |
|
Selling, General and Administration Expenses |
3.000 |
3.500 |
4.000 |
|
Interest / Financial charges |
3.200 |
6.500 |
6.500 |
|
Sales Tax |
-- |
-- |
-- |
|
Operating profit |
10.368 |
14.993 |
19.495 |
|
|
|
|
|
|
Add : Other Non-Operating Income |
-- |
-- |
-- |
|
|
|
|
|
|
Less : Partner’s
Interest / Salary Expenses |
-- |
-- |
-- |
|
|
|
|
|
|
Profit Before Tax |
10.368 |
14.993 |
19.495 |
|
|
|
|
|
|
Provision for Tax |
3.421 |
4.948 |
6.433 |
|
|
|
|
|
|
Net Profit / Loss
After Tax |
6.947 |
10.045 |
13.062 |
|
|
|
|
|
|
PROFIT % |
2.32 |
2.87 |
3.27 |
|
|
|
|
|
|
Raw Material Purchased |
306.500 |
329.000 |
374.500 |
|
Raw Material Consumed |
283.423 |
325.000 |
370.000 |
|
|
|
|
|
|
Consumption to
sales in % |
94.47 |
92.86 |
92.50 |
|
|
|
|
|
|
No. of Months |
12 |
12 |
12 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLION)
|
PARTICULARS |
31.03.2016 (Estimated) |
31.03.2017 (Projected) |
31.03.2018 (Projected) |
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
Paid up Capital |
15.000 |
15.000 |
15.000 |
|
Reserves and Surplus |
7.267 |
17.312 |
30.374 |
|
Capital Introduce / Share Application money (Withdrawal) |
-- |
-- |
-- |
|
SHAREHOLDERS FUND –
A |
22.267 |
32.312 |
45.374 |
|
|
|
|
|
|
Debentures |
-- |
-- |
-- |
|
Term Deposits from Public |
-- |
-- |
-- |
|
Deferred payment (H. P. Finance) |
-- |
-- |
-- |
|
Term loans from Banks / Financial Institutions |
-- |
-- |
-- |
|
Loans from friends / relatives |
-- |
-- |
-- |
|
Other Term Liabilities |
-- |
-- |
-- |
|
TOTAL TERM
LIABILITIES - B |
-- |
-- |
-- |
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
Short Term Borrowings from Banks (CC and Book Debts) |
45.000 |
45.000 |
45.000 |
|
against stocks, stores etc. (Sub limit PCL / PCFC and FBP -/ FBD) |
-- |
-- |
-- |
|
Unsecured Borrowings from Banks (Including Bills Discounting) |
-- |
-- |
-- |
|
Sundry Creditors |
6.500 |
6.000 |
5.500 |
|
Sundry Creditors for Expenses |
-- |
-- |
-- |
|
Advance payment form Customers |
-- |
-- |
-- |
|
Short Term Borrowings from Market |
-- |
-- |
-- |
|
Deposits maturing within one year |
-- |
-- |
-- |
|
Install of TL / DPG / Deb. / R.P. shar due |
-- |
-- |
-- |
|
Interest and other Charges but not due |
3.000 |
4.000 |
5.000 |
|
Provision for Taxation |
-- |
-- |
-- |
|
Dividend Payable |
-- |
-- |
-- |
|
Other Statutory Liabilities |
-- |
-- |
-- |
|
Other Current Liabilities / Provisions |
0.050 |
0.075 |
0.100 |
|
TOTAL CURRENT
LIABILITIES - C |
54.550 |
55.075 |
55.600 |
|
|
|
|
|
|
Total Outside Liabilities [B+C] |
54.550 |
55.075 |
55.600 |
|
|
|
|
|
|
TOTAL LIABILITIES
[A + B + C] |
76.817 |
87.387 |
100.974 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
Current Assets |
|
|
|
|
Cash and Bank Balance |
0.325 |
0.373 |
0.478 |
|
Investments – Government / Other Security |
-- |
-- |
-- |
|
-Fixed Deposits with Banks |
-- |
-- |
-- |
|
Quoted Investments |
-- |
-- |
-- |
|
Receivables |
|
|
|
|
-Outstanding below 6 months |
20.000 |
9.000 |
4.000 |
|
-Outstanding above 6 months |
-- |
-- |
-- |
|
-Export Receivables |
28.500 |
45.500 |
59.000 |
|
Inventory |
|
|
|
|
Raw Materials – Indigenous |
-- |
-- |
-- |
|
Raw Materials – Imported |
-- |
-- |
-- |
|
Stores and Spares |
-- |
-- |
-- |
|
Stocks / Work in Process |
-- |
-- |
-- |
|
Finished Goods |
27.500 |
31.500 |
36.000 |
|
Trading and Other Goods |
-- |
-- |
-- |
|
Total Inventory |
27.500 |
31.500 |
36.000 |
|
|
|
|
|
|
Advance Receivables in cash or kind |
-- |
-- |
-- |
|
Advance to Suppliers |
-- |
-- |
-- |
|
Advance Income Tax |
0.421 |
0.948 |
1.433 |
|
Accrued Income / Interest |
-- |
-- |
-- |
|
Other Current Assets |
-- |
-- |
-- |
|
TOTAL CURRENT
ASSETS - D |
76.746 |
87.321 |
100.911 |
|
|
|
|
|
|
Fixed Assets |
|
|
|
|
Gross Blocks |
0.064 |
0.055 |
0.048 |
|
Less : Depreciation charges upto date |
0.09 |
0.007 |
0.005 |
|
Addition during the year |
-- |
-- |
-- |
|
NET FIXED ASSETS -
E |
0.055 |
0.048 |
0.043 |
|
|
|
|
|
|
Non-Current Assets |
|
|
|
|
Investments in subsidiary / affiliates |
-- |
-- |
-- |
|
Advances to Group Concern |
-- |
-- |
-- |
|
Cash Margin for BG |
-- |
-- |
-- |
|
Advances to suppliers of capital goods |
-- |
-- |
-- |
|
Deferred Receivables |
-- |
-- |
-- |
|
Other Miscellaneous Assets |
-- |
-- |
-- |
|
Investments in others |
-- |
-- |
-- |
|
TOTAL NON-CURRENT ASSETS - F |
-- |
-- |
-- |
|
|
|
|
|
|
Intangibles Assets |
|
|
|
|
Preliminary Expenses / Patents / Goodwill / Bad / Doubtful Debts not provided for |
0.016 |
0.018 |
0.020 |
|
Miscellaneous Expenses / Deferred Revenue Expenses |
-- |
-- |
-- |
|
Accumulated losses |
-- |
-- |
-- |
|
TOTAL INTANGIBLES ASSETS - G |
0.016 |
0.018 |
0.020 |
|
|
|
|
|
|
TOTAL ASSETS [D + E
+ F + G] |
76.817 |
87.387 |
100.974 |
------------------------------------------------------------------------------------------------------------------------------
ANALYTICAL AND
COMPARATIVE RATIOS
(RS. IN MILLION)
|
PARTICULARS |
31.03.2016 (Estimated) |
31.03.2017 (Projected) |
31.03.2018 (Projected) |
|
|
|
|
|
|
Tangible Networth |
22.267 |
32.312 |
45.374 |
|
|
|
|
|
|
Sales (Net) |
|
|
|
|
Domestic |
150.000 |
100.000 |
50.000 |
|
Exports |
150.000 |
250.000 |
350.000 |
|
Other Income |
-- |
-- |
-- |
|
|
|
|
|
|
Net Profit / (Loss) Before Tax After Depreciation |
10.368 |
14.993 |
19.495 |
|
|
|
|
|
|
Net Profit /
(Loss)After Depreciation / Taxation |
6.947 |
10.045 |
13.062 |
|
|
|
|
|
|
Depreciation provided for |
0.009 |
0.007 |
0.005 |
|
|
|
|
|
|
Internal Cash Accruals |
-- |
-- |
-- |
|
|
|
|
|
|
Cash Generation |
10.377 |
15.000 |
19.500 |
|
|
|
|
|
|
Working Capital gap |
67.196 |
77.246 |
90.311 |
|
Required Net Working Capital |
12.062 |
10.455 |
10.478 |
|
Actual Net Working Capital |
22.196 |
32.246 |
45.311 |
|
|
|
|
|
|
Excess Finance |
Nil |
Nil |
Nil |
|
|
|
|
|
|
Net Profit / (Loss) / Set Sales (%) |
2.32 |
2.87 |
3.27 |
|
|
|
|
|
|
Net Sales / Gross Fixed Assets |
251.719 |
202.000 |
127.292 |
|
|
|
|
|
|
Total Outside
Liabilities / TNW |
0.245 |
0.170 |
0.123 |
|
TOL / TNW
(Directors Loan quasi capi) |
0.245 |
0.170 |
0.123 |
|
|
|
|
|
|
Debt Equity Ratio |
-- |
-- |
-- |
|
|
|
|
|
|
Current Ratio |
0.141 |
0.159 |
0.181 |
|
|
|
|
|
|
Stock of Raw Materials in terms of |
-- |
-- |
-- |
|
No. of Month’s Consumption |
-- |
-- |
-- |
|
|
|
|
|
|
Stock of consumables stores in terms of |
-- |
-- |
-- |
|
No. of Month’s Consumption |
-- |
-- |
-- |
|
|
|
|
|
|
Work in process in terms of |
-- |
-- |
-- |
|
No. of Month’s Cost of Production |
-- |
-- |
-- |
|
|
|
|
|
|
Stocks of Finished Goods in terms of |
-- |
-- |
-- |
|
No. of Month’s Cost of Sales |
1.16 |
1.16 |
1.17 |
|
|
|
|
|
|
Sundry Debtors in terms of (Local Debtors) |
1.60 |
1.08 |
0.96 |
|
No. of Month’s Sales (Export Debtors) |
|
|
|
|
|
|
|
|
|
Creditors of Purchase in terms of |
|
|
|
|
No. of Month’s Purchase |
0.25 |
0.22 |
0.18 |
|
|
|
|
|
|
GROSS SALES |
300.000 |
350.000 |
400.000 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH
STATEMENT
MR. MUKESH KUMAR SOBHALAL GADHIYA
AS ON 31.08.2015
(RS. IN MILLION)
|
PARTICULARS |
|
AMOUNT |
|
Capital - Jassmine Multitrade Private Limited |
|
13.550 |
|
Capital - Jassmine Enterprises |
|
3.000 |
|
Loans and Advances to the friends and relatives |
|
9.005 |
|
Investment in ornaments Gold / Jewelery (40 tolas) |
|
1.050 |
|
Cash and Bank Balance |
|
0.575 |
|
Furniture and Fixtures |
|
0.325 |
|
|
|
|
|
Total [A] |
|
27.505 |
|
|
|
|
|
Immovable property |
|
|
|
|
|
|
|
Office No.904, 9th Floor, The Ambience Court, Sector – 19, Vashi, Navi Mumbai , Maharashtra, India |
|
30.000 |
|
Office No.313, 3rd Floor, The Ambience Park, Sector – 19, Vashi, Navi Mumbai , Maharashtra, India |
|
19.000 |
|
|
|
|
|
Total [B] |
|
49.000 |
|
|
|
|
|
TOTAL [A+B] |
|
76.505 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH
STATEMENT
MR. SHYAM SUNDAR GULABRAY MOTWANI
AS ON 31.08.2015
(RS. IN MILLION)
|
PARTICULARS |
|
AMOUNT |
|
Capital - Jassmine Multitrade Private Limited |
|
0.050 |
|
Capital - Jassmine Enterprises |
|
52.478 |
|
Loans and Advances to the friends and relatives |
|
5.520 |
|
Investment in ornaments Gold / Jewelery (50 tolas) |
|
1.300 |
|
Cash and Bank Balance |
|
0.305 |
|
Furniture and Fixtures |
|
0.085 |
|
|
|
|
|
Total [A] |
|
59.738 |
|
|
|
|
|
Immovable property |
|
|
|
|
|
|
|
Office No.904, 9th Floor, The Ambience Court, Sector – 19, Vashi, Navi Mumbai , Maharashtra, India |
|
-- |
|
Office No.313, 3rd Floor, The Ambience Park, Sector – 19, Vashi, Navi Mumbai , Maharashtra, India |
|
-- |
|
|
|
|
|
Total [B] |
|
-- |
|
|
|
|
|
TOTAL [A+B] |
|
59.738 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT OF OFFICE
MR. MUKESH KUMAR GADHIYA
OFFICE NO. 303, 3RD
FLOOR, THE AMBIENCE COURT, PLOT NO.02, SECTOR 19D, VASHI, NAVI MUMBAI
SUBMITTED TO
CENTRAL BANK OF INDIA, NARIMAN POINT BRANCH, MUMBAI
|
Purpose of Valuation |
To ascertain the present market value of office |
|
|
|
|
Date of Visit |
24.09.2015 Inspected by (Mr. Milind Dudhawade) |
|
|
|
|
Person/s accompanying / available at the site at the time of visit / inspection valuation |
Mr. Santosh |
|
|
|
|
Complete address of the property (Door No., Street / Cross Road, Survey No. etc.) |
Office No.303, 3rd Floor, The Ambience Court, Plot No.02, Sector 19D, Vashi, Navi Mumbai |
|
|
|
|
Boundaries |
Near Vashi Fruit Market 1 KM From Vashi Railway Station |
|
|
|
|
Title of the property |
Office |
|
|
|
|
Name and address of the owner |
Mr. Mukesh Kumar Sobhalal Gadhiya (Proposed Owner) Office No.303, 3rd Floor, The Ambience Court, Plot No.02, Sector 19D, Vashi, Navi Mumbai |
|
|
|
|
Since how long owning the property |
Offer Letter Dated 16.03.2014 |
|
|
|
|
Whether Joint / Co-ownership / Others (Specify) |
Ownership 100% |
|
|
|
|
In case of Joint Ownership please furnish shares of each owner and also whether the shares are undivided |
Not Available |
|
|
|
|
|
|
|
|
|
|
Corporation Tax Paid |
With Party |
|
Amount |
|
|
Year of Assessment |
|
|
Date of Payment |
|
|
|
|
|
Agreement of Easements if any and if so attach copy |
Not Available |
|
|
|
|
Restrictive Clauses as to uses, if any (whether building use certificate from the corporation has been obtained etc.) |
No |
|
|
|
|
Location Advantages / Disadvantages |
This property is 1 kms away from Vashi Railway Station on East Side |
|
|
|
|
Classification of locality |
Middle Class |
|
|
|
|
Civic Amenities |
All facilities are nearby |
|
|
|
|
Proximity to surface communication |
By Train, Bus, Taxi |
|
|
|
|
Distance from the city / Municipal limits |
1 kms away from Vashi Railway Station on East Side |
|
|
|
|
If the property is not within the city / town / municipal limits, then state the distance of the property from |
Within limits of N.M.M.C. |
|
-Municipal Office |
|
|
-Municipal Limits |
|
|
|
|
|
Disadvantages, if any, to be specified |
No |
|
|
|
|
Title of the
property |
|
|
|
|
|
Whether freehold |
Leasehold land from CIDCO |
|
|
|
|
If not freehold, what is the unexpired period of the leas |
|
|
|
|
|
If leasehold, name of the lessor / lessee, nature of lease, Dt of commencement and terms of renewal of lease |
On their Terms |
|
|
|
|
Rent per annum |
Not Available |
|
|
|
|
Unearned increase payable to the lessor in the event of sale or transfer |
Not Available |
|
|
|
|
Type of the
property – whether |
|
|
Agricultural |
No |
|
Industrial |
No |
|
Residential |
No |
|
Flat / Apartment |
|
|
(Any restrictive clauses for sale etc. to be furnished ) |
No |
|
Commercial |
Yes |
|
Institutional |
No |
|
Others (Specify) |
No |
|
|
|
|
What is the |
|
|
Year of acquisition / purchase of land |
Not Available |
|
Value / Purchase price paid |
Not Available |
|
Year of construction of superstructure / purchase of Building |
Not Available |
|
No. of Floors |
STILT + 19 upper Floors |
|
Year of completion |
2010 |
|
Cost of construction / purchase price |
|
|
Addition / Improvements carried out if any sate briefly nature of additions / Improvements total cost thereof |
No |
|
Rate and Amount of Depreciation |
No Depreciation |
|
Present written down value |
Rs.27.192 Million |
|
|
|
|
Valuer's opinion regarding the present condition / State of building |
General Condition is good of Building |
|
|
|
|
Estimated Future Life |
This Building is built in about 2010 General Condition is Good Future Life can be Considered to be 70 Years Under Normal Working Condition and Regular Maintenance |
|
|
|
|
Area of land to be supported by a map showing shape, dimensions and physical features |
· Carpet Area = 708 sq. Ft. · Saleable Area = 1133 sq. Ft. |
|
|
|
|
Has The Whole or Part of The Land Been Notified For Acquisition By Government or Statutory Body? If So, Give Details |
Not Available |
|
|
|
|
Area of Building / Constructed Portion (State Separately for Factory, Administrative Office, Staff Quarters) |
Not Available |
|
|
|
|
Type / Class of Construction |
R.C.C. Framed Structure |
|
|
|
|
Service Items Available (List of All The Items To Be Supply, Etc. Provided - Such As Lifts, Borewell, Pump, Embedded, Motors, Dg Set, Water Supply, Sanitary Disposal Systems, Canteen, Stores Etc. |
Water Supply, Electricity |
|
|
|
|
If The Property is Industrial |
No |
|
|
|
|
State for what type of activity /industry the premises is well suited |
Not Available |
|
|
|
|
Sanctioned / Connected Power Load |
Not Available |
|
|
|
|
Type of Activity Presently Going on at the Premises |
Not Available |
|
|
|
|
Whether the property is residential flat / apartment - if so, then state when the building was Constructed |
2010 |
|
|
|
|
Whether full consideration has been paid and proper title documents obtained and produced for verification |
Owner |
|
|
|
|
In which floor / store 1 flat is located |
3rd Floor |
|
|
|
|
If the property is of a commercial type -state |
Yes |
|
|
|
|
For what purpose the same is well suited (office Purpose / business, etc.) |
Office |
|
|
|
|
The present activity / business being conducted |
Office |
|
|
|
|
If the property is agricultural, state |
No |
|
|
|
|
Whether dry or wet lands |
Not Available |
|
|
|
|
Irrigation facilities available |
Not Available |
|
|
|
|
Type of crops grown and annual yield/ income in the previous years |
Not Available |
|
|
|
|
Whether the building / property is constructed strictly according to the sanctioned plan details of variation notice, if any, and effect of the same on the valuation to be dealt with specifically |
Not Available |
|
|
|
|
Whether the
property is self-occupied or tenanted / let out, if tenanted / let out |
Self Occupied |
|
|
|
|
Since how long |
Not Available |
|
To how many tenants |
Not Available |
|
What is the total monthly income |
Not Available |
|
If partly owner occupied, specify portion and extent of area under
owner occupation |
Not Available |
|
|
|
|
Whether the said
property was valued earlier? if so, |
No |
|
Date of valuation |
No |
|
Name and address of the valuer |
No |
|
Whether in the approved panel of the bank |
No |
|
Purpose of earlier valuation |
No |
|
Basis of valuation |
No |
|
Also submit / enclose a copy of the earlier valuation report |
No |
|
|
|
|
Basis of present valuation |
On Agent Enquiry |
|
|
|
|
Present depreciated value |
Rs.27.192 Million |
|
|
|
|
Market Value |
|
|
Rate adopted |
Rs. 24,000/- sq. ft. |
|
Basis for adopted rates |
Based on enquiries with estate agents and other sources
considering various features and available |
|
Whether the adopted rates are commensurate with the rates adopted by
the registrar's office? In case of wide variation, please specify reasons |
Registrar rates are low |
|
Whether the adopted rates have relationship with those adopted by the
IT department |
It rate are low |
|
Whether the rates are a based on prevalent rates in the area. If so,
the basis for accepting the same |
On Market Rate |
|
|
|
|
In case of increase in present valuation over the previous valuation,
then furnish the specific reasons, basis for the increase in value and the
details of variation |
Rates are rising |
|
|
|
|
Whether the building
is insured - if so |
|
|
For what value |
Not Available |
|
Against the risks |
Not Available |
|
Date of expiry of insurance |
Not Available |
|
|
|
|
In case, the bank were to sell the property, what would be the approximately
realizable value (forced sale value) |
Realisable Sale Value :Rs.24.473 Million |
|
|
|
|
Sources of information for arriving at the forced sale value |
It is observed that 75% for distant locations and 85% value for near locations
is taken hence 80% value is a reasonable average |
|
|
|
|
BRIEF
DESCRIPTION |
|
|
|
|
|
OFFICE NO. 313, 3RD FLOOR, AMBIENCE PARK, PLOT NO.02, SECTOR 19 D, VASHI, NAVI MUMBAI |
|
|
|
|
This Office has
following Amenities
1. Marbonite Flooring
2. Wooden door
3. Aluminum Sliding Windows with M.S. Grills
4. All Walls are Internally Plastered with dry distemper oil bound paint finish
5. Externally plastered with sand faced finish
6. R.C.C. Framed structure
7. Concealed Electric Wiring
8. Concealed Plumbing
9. This Building is Stilt + 19 Upper Floors
10. Four lifts facility
11. Payment around building
12. Compound wall
DOCUMENT REFERRED
1) Offer Letter of Shree Mukund Associates Dated 16.03.2014
2) Search Report of Advocate Benny Joseph Dated 01.10.2015
PROPERTY LOCATION:
This property is 1 km. Away from Vashi Railway station on East Side
AGE, FUTURE LIFE:-
This Building is built in about 2010 General Condition is Good Future Life can be Considered to be 70 Years Under Normal Working Condition and Regular Maintenance.
AREA
Carpet Area = 708 sq. Ft.
Saleable Area = 1133 sq. Ft.
As per Offer Letter
VALUATION:-
This office is on 3rd floor of stilt + 19 upper floors building with four lifts and is 1 kms away from Vashi Railway Station on East Side.
Vashi is a prominent place in Navi Mumbai and offices are in demand.
All civic amenities are available in the vicinity. This building on facing main road it has an attractive facade this is a prominent commercial building.
The prevailing market rate 1n this area varies from Rs. 24,000/- sq. ft. to Rs. 26,000/- sq. ft. (Ref. Sai estate consultant-Mobile No. 9820125929).
Based on local enquiries and considering above factors we shall adopt a rate of Rs. 24.000/- sq. ft.
VALUATION
Rs. 0.024 Million X 1133 sq. ft. = Rs. 27.192 Million
Realisable Sale Value = Rs.24.473 Million
Distress Sale Value = Rs.21.754 Million
Reckoner Value:
Rs.7350/- X 1133 sq. ft. = Rs.8.327 Million
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT OF OFFICE
MR. MUKESH KUMAR GADHIYA
OFFICE NO. 303, 3RD
FLOOR, THE AMBIENCE COURT, PLOT NO.53 AND 54, SECTOR 19A, VASHI, NAVI MUMBAI
SUBMITTED TO
CENTRAL BANK OF INDIA, NARIMAN POINT BRANCH, MUMBAI
|
Purpose of Valuation |
To ascertain the present market value of office |
|
|
|
|
Date of Visit |
24.09.2015 Inspected by (Mr. Milind Dudhawade) |
|
|
|
|
Person/s accompanying / available at the site at the time of visit / inspection valuation |
Mr. Santosh |
|
|
|
|
Complete address of the property (Door No., Street / Cross Road, Survey No. etc.) |
Office No.303, 3rd Floor, The Ambience Court, Plot No.53 and 54, Sector 19 A, Vashi, Navi Mumbai |
|
|
|
|
Boundaries |
- |
|
|
|
|
Title of the property |
Commercial Office |
|
|
|
|
Name and address of the owner |
Mr. Mukesh Gadhiya Address : Office No.303, 3rd Floor, The Ambience Court, Plot No.53 and 54, Sector 19 A, Vashi, Navi Mumbai |
|
|
|
|
Since how long owning the property |
Since 6 months |
|
|
|
|
Whether Joint / Co-ownership / Others (Specify) |
Ownership 100% |
|
|
|
|
In case of Joint Ownership please furnish shares of each owner and also whether the shares are undivided |
Not Available |
|
|
|
|
|
|
|
|
|
|
Corporation Tax Paid |
With Party |
|
Amount |
|
|
Year of Assessment |
|
|
Date of Payment |
|
|
|
|
|
Agreement of Easements if any and if so attach copy |
Not Available |
|
|
|
|
Restrictive Clauses as to uses, if any (whether building use certificate from the corporation has been obtained etc.) |
No |
|
|
|
|
Location Advantages / Disadvantages |
This property is 1 kms away from Vashi Railway Station on East Side |
|
|
|
|
Classification of locality |
Middle Class |
|
|
|
|
Civic Amenities |
|
|
|
|
|
Proximity to surface communication |
By Train, Bus, Taxi |
|
|
|
|
Distance from the city / Municipal limits |
|
|
|
|
|
If the property is not within the city / town / municipal limits, then state the distance of the property from |
Within N.M.M.C. Limits |
|
-Municipal Office |
|
|
-Municipal Limits |
|
|
|
|
|
Title of the
property |
|
|
|
|
|
Whether freehold |
|
|
|
|
|
If not freehold, what is the unexpired period of the leas |
Leasehold land |
|
|
|
|
If leasehold, name of the lessor / lessee, nature of lease, Dt of commencement and terms of renewal of lease |
Leasehold land from CIDCO |
|
|
|
|
Rent per annum |
Not Available |
|
|
|
|
Unearned increase payable to the lessor in the event of sale or transfer |
Not Available |
|
|
|
|
Type of the
property – whether |
|
|
Agricultural |
No |
|
Industrial |
No |
|
Residential |
No |
|
Flat / Apartment |
|
|
(Any restrictive clauses for sale etc., to be furnished ) |
No |
|
Commercial |
Yes |
|
Institutional |
No |
|
Others (Specify) |
No |
|
|
|
|
What is the |
|
|
Year of acquisition / purchase of land |
Not Available |
|
Value / Purchase price paid |
Not Available |
|
Year of construction of superstructure / purchase of Building |
2015 |
|
No. of Floors |
Ground + 3 Floors |
|
Year of completion |
2015 |
|
Cost of construction / purchase price |
Not Available |
|
Addition / Improvements carried out if any sate briefly nature of additions / Improvements total cost thereof |
No |
|
Rate and Amount of Depreciation |
No Depreciation |
|
Present written down value |
Rs.17.504 Million |
|
|
|
|
Valuer's opinion regarding the present condition / State of building |
General Condition is good of Building |
|
|
|
|
Estimated Future Life |
This Building is built in about 2015 General Condition is Good Future Life can be Considered to be 75 Years Under Normal working Condition and Regular Maintenance |
|
|
|
|
Area of land to be supported by a map showing shape, dimensions and physical features |
|
|
|
|
|
Has The Whole or Part of The Land Been Notified For Acquisition By Government or Statutory Body? If So, Give Details |
Not Available |
|
|
|
|
Area of Building / Constructed Portion (State Separately for Factory, Administrative Office, Staff Quarters) |
Not Available |
|
|
|
|
Type / Class of Construction |
R.C.C. Structure |
|
|
|
|
Service Items Available (List of All The Items To Be Supply, Etc. Provided - Such As Lifts, Borewell, Pump, Embedded, Motors, Dg Set, Water Supply, Sanitary Disposal Systems, Canteen, Stores Etc. |
Water Supply, Electricity Supply, Sanitary Disposal |
|
|
|
|
If The Property is Industrial |
No |
|
|
|
|
State for what type of activity /industry the premises is well suited |
Not Available |
|
|
|
|
Sanctioned / Connected Power Load |
Not Available |
|
|
|
|
Type of Activity Presently Going on at the Premises |
Not Available |
|
|
|
|
Whether the property is residential flat / apartment - if so, then state |
No |
|
|
|
|
When the building was Constructed |
2015 |
|
|
|
|
Whether full consideration has been paid and proper title documents obtained and produced for verification |
Yes |
|
|
|
|
In which floor / store 1 flat is located |
3rd Floor |
|
|
|
|
If the property is of a commercial type -state |
Yes |
|
|
|
|
For what purpose the same is well suited (office Purpose / business, etc.) |
Office |
|
|
|
|
The present activity / business being conducted |
At Present Vacant |
|
|
|
|
If the property is agricultural, state |
No |
|
|
|
|
Whether dry or wet lands |
Not Available |
|
|
|
|
Irrigation facilities available |
Not Available |
|
|
|
|
Type of crops grown and annual yield/ income in the previous years |
Not Available |
|
|
|
|
Whether the building / property is constructed strictly according to the sanctioned plan details of variation notice, if any, and effect of the same on the valuation to be dealt with specifically |
As per sanction plan |
|
|
|
|
Whether the property
is self-occupied or tenanted / let out, if tenanted / let out |
Self Occupied |
|
|
|
|
Since how long |
Not Available |
|
To how many tenants |
Not Available |
|
What is the total monthly income |
Not Available |
|
If partly owner occupied, specify portion and extent of area under
owner occupation |
Not Available |
|
|
|
|
Whether the said
property was valued earlier? if so, |
No |
|
Date of valuation |
No |
|
Name and address of the valuer |
No |
|
Whether in the approved panel of the bank |
No |
|
Purpose of earlier valuation |
No |
|
Basis of valuation |
No |
|
Also submit / enclose a copy of the earlier valuation report |
No |
|
|
|
|
BASIS OF PRESENT
VALUATION |
|
|
|
|
|
Present depreciated value |
Rs.17.504 Million |
|
|
|
|
Market Value |
|
|
Rate adopted |
Rs. 22,000/- sq. ft. |
|
|
|
|
Basis for adopted rates |
Based on enquiries with estate agents and other sources
considering various features and available |
|
Whether the adopted rates are commensurate with the rates adopted by
the registrar's office? In case of wide variation, please specify reasons |
Registrar rates are low |
|
Whether the adopted rates have relationship with those adopted by the
IT department |
It rate are low |
|
Whether the rates are a based on prevalent rates in the area. If so,
the basis for accepting the same |
On market rate |
|
|
|
|
In case of increase in present valuation over the previous valuation, then
furnish the specific reasons, basis for the increase in value and the details
of variation |
Rates are rising |
|
|
|
|
Whether the
building is insured - if so |
|
|
For what value |
Not Available |
|
Against the risks |
Not Available |
|
Date of expiry of insurance |
Not Available |
|
|
|
|
In case, the bank were to sell the property, what would be the
approximately realizable value (forced sale value) |
·
Realisable Sale Value :Rs.15.754 Million ·
Distress Sale Value :Rs.14.003 Million |
|
|
|
|
Sources of information for arriving at the forced sale value |
It is observed that 75% for distant locations and 85% value for near
locations is taken hence 80% value is a reasonable average |
|
|
|
|
BRIEF
DESCRIPTION |
|
|
|
|
|
OFFICE NO. 313, 3RD FLOOR, AMBIENCE PARK, PLOT NO.53 AND 54, SECTOR 19 A, VASHI, NAVI MUMBAI |
|
|
|
|
This Office has
following Amenities
- Marbonite Flooring
- Wooden door
- Aluminum Sliding Windows with M.S. Grills
- Concealed Wiring
- Concealed Plumbing
- All Walls are Internally Plastered with dry distemper oil bound paint finish
- All walls externally have aluminum framed glass curtain wall
- W.C/ bath has ceramic tiles flooring with full wall dado tiles
- This building is ground + 03 floors
- RCC Slab Roof
- One Lift Facility
- Pavement around the Building
- Compound Wall and Parking Space
- Fire Prevention Equipment
DOCUMENT REFERRED
1) Offer Letter of Shree Mukund Associates Dated 13.03.2014
2) Search Report of Advocate Benny Joseph Dated 01.10.2015
PROPERTY LOCATION:
This property is 1 km. Away from Vashi Railway station on East Side
AGE, FUTURE LIFE:-
This Building is built in about 2015 General Condition is good Future Life can be Considered to be 75 Years Under Normal Working Condition and Regular Maintenance.
AREA
Carpet Area = 489.06 sq. Ft.
As Per Mukund Associates Letter
Saleable Area = 782 sq. Ft.
Car Parking 1 No.
VALUATION:
This office is on 3rd floors of ground + 03 floors building with one lift and is 1km. away from Vashi Railway Station on East Side.
The prevailing market rate in this area varies from Rs. 22,000/- to Rs. 24,000/- sq. ft. (Ref. Sai Real Estate Consultant Mobile No. 9820125929).
Based on local enquiries and considering above factors they shall adopt a depreciated rate of Rs. 22,000/- sq. ft.
COMPLETED IN 2015 -
NO DEPRECIATION
VALUATION
A) Office Rs. 22000/- X 782 sq.ft. = Rs.17.204 Million
B) Car Parking 1 No. : Lump Sum
= Rs. 0.300 Million
Total A + B =
Rs.17.504 Million
Market Value = Rs.17.504 Million
Realizable Sale Value = Rs.15.754 Million
Distress Sale Value = Rs.14.003 Million
Reckoner Value:
Rate of Rs.69000/- Sq.mt. = Rs.6410/-Sq.ft.
Say Rs.6500/- Sq.ft.
Reckoner valuation: Rs.6500/- X 782 Sq.ft. = Rs.5.083 Million
------------------------------------------------------------------------------------------------------------------------------
COMPANY
PROFILE
Subject is a company established on 25.02.2013. Then it was silent up to year 2015. The company has started the business of trading of Fabrics, Scarfs, Duppattas, Kurtis, Salwar, Dress Material, Suiting etc. in local Market (who are export their goods to Overseas/ countries like Dubai, U.A.E, Kuwait, Jeddah, Hong Kong etc. from 05.02.2015.
The office situated at Office No. 40, Ground floor, Ashoka Shopping Centre, Near G.T Hospital, Crawford Market, Mumbai 400001 and Material store at Godown No 3, Village Dhutum, Dronagiri, JNPT, Navi Mumbai 400707.
Share capital
Presently the Company having the Authorized Share capital of Rs.20.100 Million divided into 20,10,000 equity share of Rs.10 each out of them company has raised Paid up Share Capital of Rs 15.000 Million.
|
Authorized Share Capital |
Rs 20.100 Million |
|
Paid Up share Capital |
Rs 15.000 Million |
|
Add: Reserves and Surplus during the year (2015-16) |
Rs 7.267 Million |
|
Total TNW AS ON
31.03.2016 |
Rs 22.267 Million |
The company is having Two Directors Mr. Shyamsunder Motwani and Mr. Mukeshkumar Ghadiya. Both the Directors are experienced in the business of textile trading and manufacturing of fabrics as both Directors are engaged in Textile Business for the last 20 to 25 years.
The Company procures the Goods/materials from Mumbai, Surat and Bhiwandi. i.e. fabrics, Suits, Salwars and Sarees, Dress Materials, Heavy Embroidery works etc. as per the requirements of quality and quantity of the Local Buyers. When the goods are ready, then it will come to godown and then it's Sales to their local Buyers who are export their goods to overseas. Exporters are their main customers who export the fabrics and other textiles items. Secondly on that connection they have received confirm Export order from overseas Buyers.
The Company has also decided to concentrate on Export Sales. Therefore company will promote the Export of Fabrics, Scarfs, Duppattas, Kurtis, Salwar, Dress Material, Suiting etc. in the countries like Dubai, U.A.E, Kuwait, Jeddah, Hong Kong etc. from current year as they having the Local and Export Orders.
DIRECTOTS PROFILE
Mr. Shyamsunder Motwani is engage in Local Textile item i.e. Fabrics, Salwars. Suits, Garments etc. since 1985.
1984 to 1998 he has worked as a Sales manager in name and Style M/s Anushka Prints Private Limited where the Company was involved in activity of Manufacturing Grey Cloth and Prints of Textile fabrics items.
1998 to 2010 Then he joined M/s Reema Enterprise Proprietor Mr. Anand Shah Export of textile item: Fabrics, Value Added Item, Sarees , Dress Material ,Suiting etc. in the countries like Dubai, U.A.E and Gulf countries and Far east countries and Un development countries. Where he has handled the entire Sales department.
2010 to till date He is doing business in his own name where Trading of Textiles items i.e fabrics, Suits, Salwars and Ready Made Garments etc. in Local Market in Mumbai Only.
2013 to till date He has joined a Partnership firm in the name and style Jassmine Enterprises where he is doing the business of Trading of Garments etc. in Local Market in Mumbai.
2014 to till date he has joined a Private Limited company in the name and and style M/s Jassmine Multitrade Private Limited where the company is engaged doing the Trading of Fabrics, Scarfs, Duppattas, Kurtis, Salwar, Dress Material, Suiting etc. in local Market (who export their goods to Overseas/ countries like Dubai, U.A.E, Kuwait, Jeddah, Hong Kong etc.) Now promote the Export business in current financial year.
He has been in textile Line since 1985 which itself Proves that the Mr. Shyamsunder Motwani is efficient to run the Business and also company having the confirm order of Local as well as of Exports.
He having a vide experience of manufacturing / Trading / Export. In the said firm He is handling the Sales (Export +Local) and Marketing and Finance Activities and current year he has procure the huge Confirm Local and Export orders.
Mr. Mukeshkumar Ghadiya is engage in Local market of Textile item i.e. Fabrics, Salwars. Suits since 2000.
2000 to 2007 he has worked as a production manager in name and Style Rishab Textiles where the Company was involved in activity of manufacturing grey cloth and Dyeing and printing and Heavy Embroidery works done on Textile fabrics items.
2007 to 2010 Then he joined Tejas Exports i.e. Export of textile item: Fabrics, Value Added Item, Sarees, Dress Material Suiting etc. in the countries like Dubai, U.A.E and Gulf countries, Hong Kong, Malaysia Singapore, Trinidad, Panama etc. Where he has handled the entire Purchase department.
2010 to till date He is doing business in his own name where trading, of Textiles Items i.e. fabrics, Suits, Salwars and Ready Made Garments etc. in Local Market in Mumbai Only.
2014 to till date he has joined a Private Limited company in the name and style Jassmine Multitrade Private Limited where the company is engaged doing the Trading of Fabrics, Scarfs, Duppattas, Kurtis, Salwar, Dress Material, Suiting etc. in local Market (who export their goods to Overseas/ countries like Dubai, U.A.E, Kuwait, Jeddah, Hong Kong etc.) Now promote the Export business in current financial year.
In the said firm He is handling the Purchase and Administrative Activities.
2015 to till date He has joined a Partnership firm in the name and style Jassmine Enterprises where he is doing the business of Trading of Garments etc. in Local Market in Mumbai.
The company was incorporated in the year 2013, during the financial year 2013-14 there was a nominal turnover of Rs.2.876 Million. After getting some good orders in hand the directors of the company has started trading activity Since January 2015. During the last FY2014-2015 the dales turnover of the company was Rs.19.200 Million. During the current financial year upto 31.08.2015 the company has achieved sales turnover of Rs.104.300 Million and the company will easily achieve sales turnover of Rs.300.000 Million at the end of the current year financial year 2015-2016 as the company has at present confirm order of Rs.198.700 Million in hand.
The details of the same are as follows
|
Particulars |
Amount (Rs. In Million) |
|
Export |
|
|
Ramp International DMCC Hong Kong |
27.400 |
|
Goldfinch General Trading LLC Dubai |
54.800 |
|
Local |
|
|
Mayur Traders |
25.400 |
|
Gitanjali Textiles |
28.200 |
|
Shreeji Arts |
16.400 |
|
S Sons |
19.500 |
|
Megha Corporation |
15.700 |
|
Mukund Traders |
11.300 |
|
Total |
198.700 |
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
- Furniture and Fixtures
- Computer
- Printer
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 records 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.65.39 |
|
|
1 |
Rs.99.05 |
|
Euro |
1 |
Rs.73.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
TRS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.