|
Report No. : |
346824 |
|
Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
DESAI COTTON CO. |
|
|
|
|
Registered
Office : |
Plot No.100/8/1, GIDC Sundarkuva Road, Modern High School, Dhundhuka,
District Ahmedabad – 382460, Gujarat |
|
Mobile No.: |
91-9723228664 [Mr. Archit A Shah] |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
-- |
|
|
|
|
Date of Establishment
: |
04.02.2015 |
|
|
|
|
Capital
Investment : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALFD2817P |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer of Cotton Bales. |
|
|
|
|
No. of Employees
: |
18 (3 in Office and 15 in Factory) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is new partnership concern established on 4th February
2015 and it is engaged into manufacturing of cotton bales. Mr. Archit A. Shah, Chartered Accountant of the concern has provided
information to us and further he claimed that concern will start its business
activities after two to three months. Payment terms are unknown. In view of infancy, the concern can be considered for business
dealings with safe and secure trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Archit A Shah |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9723228664 |
|
Date : |
21.10.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.100/8/1, GIDC Sundarkuva Road, Modern High School, Dhundhuka,
District Ahmedabad – 382460, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9723228664 [Mr. Archit A Shah] 91-9898789727 [Mr. Rahim Usmanbhai Desai] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
6705 Sq. Mt. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Mushebhai Usmanbhai Desai |
|
Designation : |
Partner |
|
Address : |
Sundarkuva Road, Modern High School, Dhandhuka, Ahmedabad, Gujarat,
India |
|
Date of Birth/Age : |
01.04.1959 |
|
Qualification : |
B. Com |
|
Experience : |
15 Years |
|
PAN No.: |
ABLPD2699E |
|
|
|
|
Name : |
Mr. Rahim Usmanbhai Desai |
|
Designation : |
Partner |
|
Address : |
Sundarkuva Road, Modern High School, Dhandhuka, Ahmedabad, Gujarat,
India |
|
Date of Birth/Age : |
18.12.1966 |
|
Qualification : |
B. Com and LLB |
|
Experience : |
12 Years |
|
PAN No.: |
ANEPD1775A |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cotton Bales. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
-- |
|
|
|
|
Terms : |
|
|
Selling : |
Cash [15-30 Days] |
|
|
|
|
Purchasing : |
Cash 7 Days |
PRODUCTION DETAILS
|
Products |
Installed
Capacity |
|
|
|
|
Cotton Bales |
3360000 Kg. |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers
· Maharishi Cotfiber · Jalaram Cotton ·
Swastik Cotton |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
18 (3 in Office and 15 in Factory) (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
-- |
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
Archit A Shah and Company Chartered Accountants |
|
Address : |
405, ONYX-2, Near Navchetan School, Paldi Cross Road, Paldi, Ahmedabad
– 380007, Gujarat, India |
|
Tel. No.: |
91-79-26580321/ 26622013 |
|
Mobile No.: |
91-9723228664 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Million]
NEW BUSINESS
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
No |
|
24 |
Capital in the business |
No |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
No |
|
30 |
Major shareholders, if available |
No |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
COST OF PROJECT
[RS. IN MILLION]
|
SR. NO. |
PARTICULARS |
AMOUNT |
|
|
|
|
|
1 |
Land and Building |
2.244 |
|
|
|
|
|
2 |
Plant and Machinery |
7.500 |
|
|
|
|
|
3 |
Preliminary and Pre-operative Expenses |
0.300 |
|
|
|
|
|
4 |
Margin for Working Capital requirement |
2.744 |
|
|
|
|
|
|
Total |
12.788 |
------------------------------------------------------------------------------------------------------------------------------
MEANS OF FINANCE
[RS. IN MILLION]
|
SR. NO. |
PARTICULARS |
AMOUNT |
|
|
|
|
|
1 |
Promoters Contribution |
4.644 |
|
|
|
|
|
2 |
Term Loans – Bank of India |
5.400 |
|
|
|
|
|
3 |
Unsecured Loan from Friends and Relatives |
2.744 |
|
|
|
|
|
|
Total |
12.788 |
------------------------------------------------------------------------------------------------------------------------------
PARTICULARS OF EXISTING / PROPOSED LIMITS
FROM THE BANKING SYSTEM
[RS. IN MILLION]
|
SR. NO. |
NAME OF BANK/ FINANCIAL INSTITUTION |
NATURE OF
FACILITY |
BALANCE AS ON
31.03.2015 |
LIMITS NOW
REQUESTED 2015-16 |
|
|
|
|
|
|
|
A |
BOI – Dhandhuka Branch |
Working Capital Limits Fund Based Cash Credit Stock Book Debts But Maximum A |
Nil |
5.100 |
|
|
|
|
|
|
|
|
|
Term Loans Hypothecation of Machinery |
Nil |
5.400 |
|
|
|
|
|
|
|
B |
|
Non-Fund based 1. Guarantee Inland 2. Letter of Credit |
Nil Nil |
Nil |
|
|
|
|
|
|
|
|
Total |
|
|
10.500 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
OPERATING STATEMENT
(RS. IN MILLION)
|
SR. NO. |
PARTICULARS |
31.03.2016 Estimated |
31.03.2017 Projected |
31.03.2018 Projected |
31.03.2019 Projected |
31.03.2020 Projected |
|
|
|
|
|
|
|
|
|
1 |
Gross Sales |
|
|
|
|
|
|
|
1. Domestic Sales |
97.118 |
141.032 |
181.568 |
222.104 |
262.640 |
|
|
2. Export Sales |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3. Other Operating / Revenue Income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
Total |
97.118 |
141.032 |
181.568 |
222.104 |
262.640 |
|
|
|
|
|
|
|
|
|
2 |
Less: Excise Duty |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
3 |
Net Sales |
97.118 |
141.032 |
181.568 |
222.104 |
262.640 |
|
|
|
|
|
|
|
|
|
4 |
%age rise (+) or fall (-) in net sales as compared to previous year |
NA |
(3.19%) |
28.74% |
22.33% |
18.25% |
|
|
|
|
|
|
|
|
|
5 |
Cost of Sales |
|
|
|
|
|
|
|
1. Raw Material [Including stores and other items used in the process of manufacture] |
96.533 |
134.507 |
172.907 |
211.307 |
249.707 |
|
|
- Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
- Indigenous |
96.533 |
134.507 |
172.907 |
211.307 |
249.707 |
|
|
|
|
|
|
|
|
|
|
2. Other Spares |
|
|
|
|
|
|
|
- Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
- Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
3. Power and Fuel |
0.400 |
0.800 |
1.400 |
1.600 |
1.800 |
|
|
|
|
|
|
|
|
|
|
4. Direct Labour [Factory wages and salaries] |
0.492 |
1.200 |
1.200 |
1.300 |
1.500 |
|
|
|
|
|
|
|
|
|
|
5. Other manufacturing expenses |
0.050 |
0.500 |
0.400 |
0.500 |
0.600 |
|
|
|
|
|
|
|
|
|
|
6. Depreciation |
1.125 |
0.956 |
0.813 |
0.637 |
0.554 |
|
|
|
|
|
|
|
|
|
|
7. Other Costs |
0.050 |
0.600 |
1.000 |
1.200 |
1.500 |
|
|
|
|
|
|
|
|
|
|
Sub-total [1 + 7] |
98.650 |
138.563 |
177.719 |
216.544 |
255.661 |
|
|
|
|
|
|
|
|
|
|
8. Add: Opening stock in process |
0.000 |
0.541 |
0.648 |
0.756 |
0.587 |
|
|
|
|
|
|
|
|
|
|
Sub-total |
98.650 |
139.104 |
178.367 |
217.300 |
256.248 |
|
|
|
|
|
|
|
|
|
|
9. Less: Closing Stock in process |
0.541 |
0.648 |
0.756 |
0.863 |
0.970 |
|
|
|
|
|
|
|
|
|
|
Cost of Production |
98.109 |
138.456 |
177.611 |
216.437 |
255.278 |
|
|
|
|
|
|
|
|
|
|
Add: Opening stock of finished |
0.000 |
2.698 |
3.808 |
4.884 |
5.952 |
|
|
|
|
|
|
|
|
|
|
Sub-total |
98.109 |
141.154 |
181.419 |
221.321 |
261.230 |
|
|
|
|
|
|
|
|
|
|
Less: Closing Stock of finished |
2.698 |
3.808 |
4.884 |
5.952 |
7.020 |
|
|
|
|
|
|
|
|
|
|
Sub-total [Cost of Sales] |
95.411 |
137.346 |
176.535 |
215.369 |
254.210 |
|
|
|
|
|
|
|
|
|
|
Gross Profit |
1.707 |
3.686 |
5.033 |
6.735 |
8.430 |
|
|
|
|
|
|
|
|
|
6 |
Selling, General & Administrative Expenses |
0.340 |
1.410 |
1.816 |
2.221 |
2.626 |
|
|
|
|
|
|
|
|
|
7 |
Sub-total |
95.751 |
138.756 |
178.351 |
217.590 |
256.836 |
|
|
|
|
|
|
|
|
|
8 |
Operating Profit before Interest |
1.367 |
2.276 |
3.217 |
4.514 |
5.804 |
|
|
|
|
|
|
|
|
|
9 |
Interest |
0.672 |
1.110 |
1.205 |
1.300 |
1.620 |
|
|
|
|
|
|
|
|
|
10 |
Operating Profit after Interest |
0.695 |
1.166 |
2.012 |
3.214 |
4.184 |
|
|
|
|
|
|
|
|
|
11 |
(i) Add: Other non-operating income |
|
|
|
|
|
|
|
(a) Interest / Misc. income |
-- |
-- |
-- |
-- |
-- |
|
|
Sub-total [Income] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
(ii) Deduct: Other non-operating expense |
|
|
|
|
|
|
|
(a) Provision for Bad and Doubtful Debts |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
Preliminary expenses written off |
0.060 |
0.060 |
0.060 |
0.060 |
0.060 |
|
|
Sub-total (expenses) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
(iii) Net of other non-operating incomes/expenses (net of 8(i) & 8(ii)) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
12 |
Profit before tax/loss |
0.695 |
1.166 |
2.012 |
3.214 |
4.184 |
|
|
|
|
|
|
|
|
|
13 |
Provision for taxes |
0.153 |
0.292 |
0.583 |
0.820 |
1.066 |
|
|
|
|
|
|
|
|
|
14 |
Net Profit /
(Loss) |
0.542 |
0.874 |
1.430 |
2.394 |
3.118 |
|
|
|
|
|
|
|
|
|
15 |
(i) Equity dividend paid/ Drawings |
-- |
-- |
-- |
-- |
-- |
|
|
(ii) Dividend Rate |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
16 |
Retained Profit
[11-12] |
0.542 |
0.874 |
1.430 |
2.394 |
3.118 |
|
|
|
|
|
|
|
|
|
17 |
Retained Profit / Net Profit (%age) |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN MILLION)
|
SR. NO. |
PARTICULARS |
31.03.2016 Estimated |
31.03.2017 Projected |
31.03.2018 Projected |
31.03.2019 Projected |
31.03.2020 Projected |
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
1 |
Short
term borrowings from bank (incl. Bills purchased, discounted & excess borrowings
placed on repayment basis) |
|
|
|
|
|
|
|
(i) From applicant bank |
5.100 |
6.000 |
7.000 |
8.000 |
9.000 |
|
|
(ii)
From other banks |
-- |
-- |
-- |
-- |
-- |
|
|
(iii)
of which BP & BD |
-- |
-- |
-- |
-- |
-- |
|
|
Sub Total (A) |
5.100 |
6.000 |
7.000 |
8.000 |
9.000 |
|
|
|
|
|
|
|
|
|
2 |
Short
term borrowings from others |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
3 |
Sundry
Creditors - Trade |
0.965 |
2.242 |
2.882 |
3.522 |
4.162 |
|
|
|
|
|
|
|
|
|
4 |
Advance
payments from customers/deposits from dealers |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
5 |
Provision
for Taxation |
0.153 |
0.292 |
0.582 |
0.820 |
1.066 |
|
|
|
|
|
|
|
|
|
6 |
Dividend
Payable |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
7 |
Other
statutory liabilities (due within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
8 |
Deposits/Instalments
of term loan/ DPGs/ Debentures etc. (due within one year) |
1.508 |
1.508 |
1.508 |
1.508 |
0.724 |
|
|
|
|
|
|
|
|
|
9 |
Other
current liabilities & Provisions (due within one year) |
0.514 |
0.538 |
0.698 |
1.765 |
1.739 |
|
|
- Creditors for expenses/ staff advance |
0.014 |
0.038 |
0.048 |
0.057 |
0.067 |
|
|
- Other Current Liabilities |
0.500 |
0.500 |
0.650 |
1.708 |
1.672 |
|
|
Sub Total |
3.140 |
4.580 |
5.670 |
7.615 |
7.691 |
|
|
|
|
|
|
|
|
|
10 |
Total Current Liabilities |
8.240 |
10.580 |
12.670 |
15.615 |
16.691 |
|
|
|
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
11 |
Debentures
(not maturing within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
12 |
Preference
Shares (redeemable after one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
13 |
Term
loans (excluding instalments payable within one year) |
3.504 |
2.645 |
1.657 |
0.521 |
0.000 |
|
|
|
|
|
|
|
|
|
14 |
Deferred
Payment Credits (excl. instalments due within one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
15 |
Term
deposits (repayable after one year) |
2.892 |
1.334 |
1.259 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
16 |
Other
Term Liabilities |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
17 |
Total Term Liabilities |
6.396 |
3.979 |
2.916 |
0.521 |
0.000 |
|
|
|
|
|
|
|
|
|
18 |
Total Outside Liabilities |
14.636 |
14.559 |
15.586 |
16.136 |
16.691 |
|
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
19 |
Ordinary
Share Capital |
4.644 |
5.186 |
6.060 |
7.490 |
9.884 |
|
|
|
|
|
|
|
|
|
20 |
General
Reserve |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
21 |
Revaluation
Reserve |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
22 |
Other
Reserves (excluding provisions) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
23 |
Surplus
(+) or deficit (-) in Profit & Loss Account |
0.542 |
0.874 |
1.430 |
2.394 |
3.118 |
|
|
Share Premium |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
24 |
Networth |
5.186 |
6.060 |
7.490 |
9.884 |
13.002 |
|
|
|
|
|
|
|
|
|
25 |
TOTAL
LIABILITIES |
19.822 |
20.619 |
23.076 |
26.020 |
29.693 |
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
26 |
Cash
& Bank balances |
0.041 |
0.010 |
0.031 |
0.232 |
0.058 |
|
|
|
|
|
|
|
|
|
27 |
Investments [other than long term] |
|
|
|
|
|
|
|
- Govt. and other trustee securities |
0.000 |
0.000 |
0.000 |
0.000 |
1.000 |
|
|
- Fixed Deposits with banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
28 |
- Receivables other than deferred and
exports [including bills purchased / discounted by banks] |
6.070 |
5.876 |
7.565 |
9.254 |
10.943 |
|
|
- Export receivables [including bills
purchased / discounted by banks] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
29 |
Installments of deferred receivables [due
within 1 year] |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
30 |
Inventory |
|
|
|
|
|
|
|
(i)
Raw materials (including stores and other items in process of manufacture) |
1.609 |
2.242 |
2.882 |
3.522 |
4.162 |
|
|
(a)
Imported |
-- |
-- |
-- |
-- |
-- |
|
|
(b)
Indigenous |
1.609 |
2.242 |
2.882 |
3.522 |
4.162 |
|
|
|
|
|
|
|
|
|
|
(ii)
Stock-in-process |
0.245 |
0.541 |
0.444 |
0.541 |
0.638 |
|
|
|
|
|
|
|
|
|
|
(iii)
Finished Goods |
2.698 |
3.808 |
4.884 |
5.952 |
7.020 |
|
|
|
|
|
|
|
|
|
|
(iv) Other consumable spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
(a)
Imported |
-- |
-- |
-- |
-- |
-- |
|
|
(b)
Indigenous |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
31 |
Advance
to suppliers of Raw materials & stores/spares |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
32 |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
33 |
Other
current assets |
|
|
|
|
|
|
|
Misc. current assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Total Current Assets |
10.663 |
12.476 |
15.806 |
19.501 |
23.821 |
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
35 |
Gross
Block (land & building machinery vehicles work-in-progress) |
9.744 |
8.619 |
7.663 |
6.850 |
6.159 |
|
|
|
|
|
|
|
|
|
36 |
Depreciation
to date |
1.125 |
0.956 |
0.813 |
0.691 |
0.587 |
|
|
|
|
|
|
|
|
|
37 |
Net Block (35-36) |
8.619 |
7.663 |
6.850 |
6.159 |
5.572 |
|
|
|
|
|
|
|
|
|
|
OTHER NON-CURRENT ASSETS |
|
|
|
|
|
|
38 |
Investments/book
debts /advances deposits which are not current assets |
0.300 |
0.300 |
0.300 |
0.300 |
0.300 |
|
|
i.(a)
Investments in subsidiary companies/ affiliates |
-- |
-- |
-- |
-- |
-- |
|
|
(b)
Others |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
ii.
Advances to suppliers of capital goods & contractors |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
iii.
Deferred receivables (maturity exceeding one year) |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
iv.
Others |
0.300 |
0.300 |
0.300 |
0.300 |
0.300 |
|
|
- GEB Deposit |
0.250 |
0.250 |
0.250 |
0.250 |
0.250 |
|
|
- Other Deposit |
0.050 |
0.050 |
0.050 |
0.050 |
0.050 |
|
|
- Invest. In Gold |
-- |
-- |
-- |
-- |
-- |
|
|
- Receivables over 6 months |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
39 |
Non
consumables stores & spares |
0.000 |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
40 |
Other
non-current assets (incl. Dues from director) |
0.000 |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
|
41 |
Total Other Non-Current Assets (Total of 38
to 40) |
0.300 |
0.300 |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
|
|
|
42 |
Intangible
assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided
for etc.) |
0.240 |
0.180 |
0.120 |
0.060 |
0.000 |
|
|
|
|
|
|
|
|
|
43 |
Total
Assets (Total of 34, 37, 41 & 42) |
19.822 |
20.619 |
23.076 |
26.020 |
29.693 |
|
|
|
|
|
|
|
|
|
44 |
Tangible Net worth |
4.946 |
5.880 |
7.370 |
9.824 |
13.002 |
|
|
|
|
|
|
|
|
|
45 |
Net Working Capital |
2.423 |
1.896 |
3.136 |
3.886 |
7.130 |
|
|
Adjusted TNW |
4.946 |
5.880 |
7.370 |
9.824 |
13.002 |
|
|
|
|
|
|
|
|
|
46 |
Current
Ratio |
1.29 |
1.18 |
1.25 |
1.25 |
1.43 |
|
|
|
|
|
|
|
|
|
47 |
Total
outside liabilities / Net worth |
2.96 |
2.48 |
2.11 |
1.64 |
1.28 |
|
|
|
|
|
|
|
|
|
48 |
Total Term Liabilities/ Tangible Netwroth |
1.29 |
0.68 |
0.40 |
0.05 |
-- |
|
|
|
|
|
|
|
|
|
49 |
TOL/ Adjusted TNW |
2.96 |
2.48 |
2.11 |
1.64 |
1.28 |
|
|
|
|
|
|
|
|
|
|
Additional Information |
|
|
|
|
|
|
A |
Arrears of Depreciation |
NA |
NA |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
B |
Contingent
Liabilities: |
|
|
|
|
|
|
|
(a)
Arrears of cumulative dividends |
NA |
NA |
NA |
NA |
NA |
|
|
(b)
Gratuity liability not provided for |
NA |
NA |
NA |
NA |
NA |
|
|
(c)
Disputed excise/ customs/ tax liabilities |
NA |
NA |
NA |
NA |
NA |
|
|
(d)
Other liabilities not provided for |
NA |
NA |
NA |
NA |
NA |
------------------------------------------------------------------------------------------------------------------------------
FUND FLOW STATEMENT
(RS. IN MILLION)
|
SR. NO. |
PARTICULARS |
31.03.2016 Estimated |
31.03.2017 Projected |
31.03.2018 Projected |
31.03.2019 Projected |
31.03.2020 Projected |
|
|
|
|
|
|
|
|
|
1 |
SOURCES |
|
|
|
|
|
|
|
[a] Net Profit |
0.542 |
0.874 |
1.430 |
2.394 |
3.118 |
|
|
[b] Depreciation |
1.125 |
(0.169) |
(0.143) |
(0.122) |
(0.104) |
|
|
[c] Increase in Capital |
4.644 |
0.542 |
0.874 |
1.430 |
2.394 |
|
|
[d] Increase in Term Liabilities (including
Public deposits) |
6.396 |
-- |
-- |
-- |
-- |
|
|
[e] Decrease in |
|
|
|
|
|
|
|
[i] Fixed Assets |
-- |
1.125 |
0.956 |
0.813 |
0.691 |
|
|
[ii] Other non-current Assets |
-- |
0.060 |
0.060 |
0.060 |
0.060 |
|
|
[f] Others (Unsecured Loans) |
0.000 |
-- |
-- |
-- |
-- |
|
|
[g] Total |
12.707 |
2.432 |
3.177 |
4.575 |
6.159 |
|
|
|
|
|
|
|
|
|
2 |
APPLICATION |
|
|
|
|
|
|
|
[a] Net Loss |
-- |
-- |
-- |
-- |
-- |
|
|
[b] Decrease in Term Liabilities (Incl.
Public deposits) |
-- |
2.417 |
1.063 |
2.395 |
0.521 |
|
|
[c] Increase in |
|
|
|
|
|
|
|
[i] Fixed Assets |
9.744 |
-- |
-- |
-- |
-- |
|
|
[ii]
Other non-current Assets |
0.540 |
-- |
-- |
-- |
-- |
|
|
[d] Dividend Payments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
[e] Others |
-- |
0.542 |
0.874 |
1.430 |
2.394 |
|
|
[f] Total |
10.284 |
2.959 |
1.937 |
3.825 |
2.915 |
|
|
|
|
|
|
|
|
|
3 |
Long Term Surplus (+)
/ Deficit (-) |
2.423 |
(0.527) |
1.240 |
0.750 |
3.244 |
|
|
|
|
|
|
|
|
|
4 |
Increase/ Decrease in current assets |
10.663 |
1.813 |
3.330 |
3.695 |
4.320 |
|
|
|
|
|
|
|
|
|
5 |
Increase/ Decrease in current Liabilities |
3.140 |
1.440 |
1.090 |
1.945 |
0.076 |
|
|
|
|
|
|
|
|
|
6 |
Increase/ Decrease in working capital Gap |
7.523 |
0.373 |
2.240 |
1.750 |
4.244 |
|
|
|
|
|
|
|
|
|
7 |
Net Surplus (+) / deficit (-)
|
(5.100) |
(0.900) |
(1.000) |
(1.000) |
(1.000) |
|
|
|
|
|
|
|
|
|
8 |
Increase/ Decrease in Bank Borrowings |
5.100 |
0.900 |
1.000 |
1.000 |
1.000 |
|
|
|
|
|
|
|
|
|
9 |
Increase/ Decrease in Net Sales |
97.118 |
43.914 |
40.536 |
40.536 |
40.536 |
|
|
|
|
|
|
|
|
|
|
* Break up of (4) |
|
|
|
|
|
|
|
[i]
Increase/ Decrease in Raw material |
1.609 |
0.633 |
0.640 |
0.640 |
0.640 |
|
|
[ii]
Increase/ Decrease in Stock in process |
0.245 |
0.296 |
(0.097) |
0.097 |
0.097 |
|
|
[iii]
Increase/ Decrease in finished goods |
2.698 |
1.110 |
1.077 |
1.068 |
1.068 |
|
|
[iv]
Increase/ Decrease in Receivables |
|
|
|
|
|
|
|
[a] Domestic |
6.070 |
(0.194) |
1.689 |
1.689 |
1.689 |
|
|
[b] Export |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
[iii]
Increase/ Decrease in stores & spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
[iii]
Increase/ Decrease in other Current Assets |
0.041 |
(0.032) |
0.021 |
0.201 |
0.826 |
|
|
|
|
|
|
|
|
|
|
Total |
10.663 |
1.813 |
3.330 |
3.695 |
4.320 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF MAXIMUM PERMISSIBLE BANK
FINANCE FOR WORKING CAPITAL
(RS. IN MILLION)
FIRST
METHOD OF LENDING
|
SR. NO. |
PARTICULARS |
31.03.2016 Estimated |
31.03.2017 Projected |
31.03.2018 Projected |
31.03.2019 Projected |
31.03.2020 Projected |
|
|
|
|
|
|
|
|
|
1 |
Total
Current Assets (Form IV-9) |
10.663 |
12.477 |
15.806 |
19.501 |
23.821 |
|
|
|
|
|
|
|
|
|
2 |
Other
Current Liabilities (other than bank borrowings) (Form IV-14) |
3.140 |
4.580 |
5.670 |
7.615 |
7.691 |
|
|
|
|
|
|
|
|
|
3 |
Working
Capital Gap (WCP) (1-2) |
7.523 |
7.897 |
10.136 |
11.886 |
16.130 |
|
|
|
|
|
|
|
|
|
4 |
Minimum
stipulated net working Capital [25% of total current assets other than Export
Receivables] |
1.881 |
1.974 |
2.534 |
2.972 |
4.033 |
|
|
|
|
|
|
|
|
|
5 |
Actual/Projected
net working capital (45 in form III) |
2.423 |
1.896 |
3.136 |
3.886 |
7.130 |
|
|
|
|
|
|
|
|
|
6 |
Item
3 minus item 4 |
5.642 |
5.923 |
7.602 |
8.915 |
12.098 |
|
|
|
|
|
|
|
|
|
7 |
Item
3 minus item 5 |
5.100 |
6.001 |
7.000 |
8.000 |
9.000 |
|
|
|
|
|
|
|
|
|
8 |
Maximum
permissible bank finance (item 6 or 7 whichever is less) |
5.100 |
5.923 |
7.000 |
8.000 |
9.000 |
|
|
|
|
|
|
|
|
|
9 |
Excess
borrowings, if any representing short fall in NWC (4-5) |
-- |
0.078 |
-- |
-- |
-- |
SECOND
METHOD OF LENDING
|
SR. NO. |
PARTICULARS |
31.03.2016 Estimated |
31.03.2017 Projected |
31.03.2018 Projected |
31.03.2019 Projected |
31.03.2020 Projected |
|
|
|
|
|
|
|
|
|
1 |
Total
Current Assets (Form IV-9) |
10.663 |
12.477 |
15.806 |
19.501 |
23.821 |
|
|
|
|
|
|
|
|
|
2 |
Other
Current Liabilities (other than bank borrowings) (Form IV-14) |
3.140 |
4.580 |
5.670 |
7.615 |
7.691 |
|
|
|
|
|
|
|
|
|
3 |
Working
Capital Gap (WCP) (1-2) |
7.523 |
7.897 |
10.136 |
11.886 |
16.130 |
|
|
|
|
|
|
|
|
|
4 |
Minimum
stipulated net working Capital [25% of total current assets other than Export
Receivables] |
2.666 |
3.119 |
3.952 |
4.875 |
5.955 |
|
|
|
|
|
|
|
|
|
5 |
Actual/Projected
net working capital (45 in form III) |
2.423 |
1.896 |
3.136 |
3.886 |
7.130 |
|
|
|
|
|
|
|
|
|
6 |
Item
3 minus item 4 |
4.857 |
4.778 |
6.185 |
7.011 |
10.175 |
|
|
|
|
|
|
|
|
|
7 |
Item
3 minus item 5 |
5.100 |
6.001 |
7.000 |
8.000 |
9.000 |
|
|
|
|
|
|
|
|
|
8 |
Maximum
permissible bank finance (item 6 or 7 whichever is less) |
4.857 |
4.778 |
6.185 |
7.011 |
9.000 |
|
|
|
|
|
|
|
|
|
9 |
Excess
borrowings, if any representing short fall in NWC (4-5) |
0.243 |
1.223 |
0.816 |
0.989 |
-- |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR. RAHIM USMANBHAI DESAI
(RS. IN MILLION)
AS
ON 09.10.2015
DETAILS
OF ASSETS
IMMOVABLE PROPERTY
LAND
|
Name of the Village or Taluka where the lands are situated together
with S. No. |
Ancestral or
Self-acquired |
Total Value |
|
|
|
|
|
Agriculture land 5 Acre (Survey No. 189, A/c
No. 735) |
Ancestral |
5.200 |
BUILDINGS
|
Sr. No. |
Name of the Village or Town where they are situated together with
street and Municipal No. |
Ancestral or
Self-acquired |
Market Value per
acre |
Total Value |
|
|
|
|
|
|
|
1 |
Shop No. 1, Shreenand Complex, Property No. 11790,
Opposite Dena Bank, Dhandhuka |
Purchased |
2,000,000 |
2.000 |
LIQUID ASSETS
|
Particulars |
Nature of Stock |
Total Value |
|
|
|
|
|
Cash and Bank Balances |
Cash and Bank |
0.023 |
|
Realizable Book Debts |
|
-- |
|
Investment in Desai Cotton Partnership Firm |
|
0.533 |
|
|
|
|
|
Loans and Advances |
|
|
|
Investment in Gold |
|
0.400 |
|
Other Movable property like Life Policies
etc. |
|
0.040 |
|
|
|
|
|
Total |
|
0.996 |
LIABILITIES
|
Borrowings |
Security |
Limit |
Amount Borrowed |
|
|
|
Nature |
Value |
|
|
|
|
|
|
|
|
|
From their Banks |
CC |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
From Other Banks |
|
|
|
|
|
Gold Loan |
Gold |
Nil |
Nil |
0.200 |
|
|
|
|
|
|
|
Other Source |
|
|
|
|
|
Kisan Cooperative Society |
|
|
|
0.084 |
|
|
|
|
|
|
|
Total |
|
|
|
0.284 |
|
NETWORTH |
RS.
7.912 MILLION |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR. MUSHEBHAI USMANBHAI
DESAI
(RS. IN MILLION)
AS
ON 09.10.2015
DETAILS
OF ASSETS
IMMOVABLE PROPERTY
LAND
|
Name of the Village or Taluka where the lands are situated together
with S. No. |
Ancestral or
Self-acquired |
Total Value |
|
|
|
|
|
Survey No. 195, Plot No. 10, 144 Sq. Mt.
Plot, Compound Wall, Room and Shed |
Purchased in 2009-10 |
2.100 |
|
|
|
|
|
Agriculture land 5 Acre Survey No. 189 |
Ancestral |
5.200 |
|
|
|
|
|
Total |
|
7.300 |
LIQUID ASSETS
|
Particulars |
Nature of Stock |
Total Value |
|
|
|
|
|
Cash and Bank Balances |
Cash and Bank |
0.073 |
|
Realizable Book Debts |
|
-- |
|
Investment in Desai Cotton Partnership Firm |
|
1.767 |
|
|
|
|
|
Loans and Advances |
|
-- |
|
Investment in Gold |
|
0.260 |
|
Other Movable property like Life Policies
etc. |
|
|
|
Bike |
|
0.010 |
|
|
|
|
|
Total |
|
2.110 |
LIABILITIES
|
Borrowings |
Security |
Limit |
Amount Borrowed |
|
|
|
Nature |
Value |
|
|
|
|
|
|
|
|
|
From their Banks |
CC |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
From Other Banks |
|
|
|
|
|
Bank of Baroda (KCC) |
Agriculture against Survey No. 189 |
Nil |
0.300 |
0.300 |
|
|
|
|
|
|
|
Total |
|
|
|
0.300 |
|
NETWORTH |
RS.
9.110 MILLION |
------------------------------------------------------------------------------------------------------------------------------
INDUSTRY OUTLOOK
Cotton Corporation of India (CCI) has procured 86 lakh bales of cotton
this marketing year so far, little lower than the record procurement of 89 lakh
bales in 2008-09. As cotton arrival is expected to last till. May this year,
cotton procurement by CCI is likely to breach the record level by the end of
season. Around 302 lakh bales of cotton has arrived in domestic market until
24.03.2015, compared to 306 lakh bales year ago during the same period said
CCI.
India is likely to keep sourcing cotton to International market in the
coming month of seasons, as stocks of USA and Brazil have almost sold out their
produce. Only 32 lakh bales of cottong have been exported so far against the
target of 90 lakh bales. Lower export will hence cause the higher ending stocks
this season compared to the previous season. Cotton exports from India is
picking up as the India cotton fibre has become cost competitive in
International market since February end.
According to the officials Indian cotton is at least 5 cents a pound
cheaper than US cotton and 2-3 cents from African cotton. Lower freight
expenses due to proximity of importing regions give India leverage over US and
Brazil. Demand from China is negligible but Indian is getting Import order from
Bangladesh, Pakistan, Turkey, Indonesia and Vietnam said Anand Poppat an
official of Saurashtra Ginners Association.
Gujarat lagged by 20-25 lakh bales in cotton output what was estimated
to be in the current season. Similarly Karnataka noticed the short fall of 3-4
lakh bales. Telangana and Andhra Pradesh on other hand are expected to exceed
the output estimates figure. Total of 90 lakh bales are expected from these two
states collectively which was earlier expected 77 lakh bales. 60 lakh bales is
expected from Telangana and around 30 lakh bales would be sourced from Andhra
Pradesh.
Ministry of Textiles proposed to limit the cotton export from India by
putting the cap on the amount of exportable surplus. It was the budget
suggestion to build a long term inventory of cotton in country for the domestic
industry said official sources.
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
(GENERAL DETAILS)
|
Purpose for which valuation is made of the
property |
To ascertain the fair and marketable value. |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Date as on which valuation is made |
22.01.2015 |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Name of the owner/ owners |
Lessor: Dhandhuka GIDC Lessee: Desai Cotton Industries |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
If the property is under joint ownership/ co-ownership,
share of each such owner. Are the shares undivided? |
Individual Ownership |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Brief description of the property |
Industrial Land |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Location, Street, Ward No. |
Industrial Plot No. 100/8/1 Desai Cotton Industries situated at GIDC
Industrial Estate, Dhandhuka, Ahmedabad |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Survey / Plot No. of land |
Survey No. 74/P, 75/P, Mouje Dhandhuka, Tal.
City, District Ahmedabad |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Is the property situated in residential/ commercial/
mixed area/ industrial area? |
Industrial Area |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Classification of locality-high class,
middle class/ poor class |
Middle Class Locality |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Proximity to civic amenities, like schools,
hospitals, offices, markets, cinema etc. |
All civic amenities are available at 1 km
radius. |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Means and proximity to surface communication
by the locality is served |
Local transport services railway and taxi. |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
LAND |
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Area of land supported by documentary proof,
shape, dimensions and physical features |
Land Area: 6705.43 Sq. Mt. Built up Area: 384.60 Sq. Mt. |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Roads, street of lanes on which the land is
abutting |
East: Plot No. 100/8/2 West: Margin and Internal Road North: Plot No. 100/7 South: Plot no. 100/9 |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Is it freehold or leasehold land? |
Leasehold land |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Is it leasehold, the name of lessor/ lesses,
nature of lease, dates of commencement and termination of lease and terms of
renewal of lease: · Initial premium · Ground rent payable per annum · Unearned increase payable to the lessor in the event of sale or transfer |
Not Applicable Not Applicable Not Applicable |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Is there any restrictive covenant in regard
to use of land? If so |
No |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Are there any agreements of easements of? If
so |
Not Applicable |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Does the land fall in an area included in
any town planning plan of Govt. or any statutory body? If so |
No |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Has any contribution been made towards
developments or any demand for such contribution still outstanding? |
NA |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Has the whole or part of the land been
notified for acquisition by Govt. or statutory body? Give date of
notification |
No |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
IMPROVEMENTS |
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Furnish technical details of the building on
a separate sheet. |
As per Technical Details |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Is the building owner-occupied tenanted/
both? |
Lesser Occupied |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
If partly owner-occupied, specify portion and
extent of area under owner-occupation. |
Fully occupied by Lessee |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
What is the floor space Index Permissible
and percentage actually utilized? |
As per concern Authority |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
RENTS |
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Name of tenants/ lessees/ lionesses etc. Portions in their occupation Monthly of annual rent compensation/ license fee, etc. paid by each Gross amount received for the whole property |
Desai Cotton Industries Full Portion Not Applicable Not Applicable |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Are any of the occupants related to or close
business associates of the owner? |
Not Applicable |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Is separate amount being recovered for the
use of fixtures like fans, geysers, refrigerator, cooling ranges, built-in
wardrobes, etc. or for service charges? If so |
Not Applicable |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Give details of water and electricity
charges? If any to be borne by the owner |
Lessee has to bear charges |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Has the tenant to bear the whole of part of
cost of repairs and maintenance? Give particulars |
Not Applicable |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
If lift is installed, who has to bear the
cost of maintenance and operation owner or tenant? |
Not Applicable |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
If a pump is installed, who has to bear the
cost of maintenance and operation-owner or tenant? |
Lessee has to bear charges |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Who has to bear the cost of electricity
charges for lighting of common space like entrance hall, stairs, passages,
compound etc. |
Lessee has to bear charges |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
What is the amount of property tax? Who is
to bear it? Give details with documentary proof |
Lessee has to bear charges |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Is the building insured? If so give the
policy no. amount for which it is insured and annual premium |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Is any dispute between landlord and tenant
regarding rent pending in a court of law? |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Has any standard rent been fixed for the
premises under any law relating to the Control of Rent? |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
SALES |
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Give instances of sales of immovable property
in the locality on a separate sheet, indicating the name and address of the
property, Regis no. sale price and area of land sold. |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Land rate adopted in this valuation |
Land Rate: Rs. 1500/- Sq. Mt. Built up Rate: Rs. 8200/- Sq. Mt. |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Sale instances are not available or not
relied upon the basis of arriving at the land rate |
From Local Inquiry and Experience |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
COST OF CONSTRUCTION |
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Year of commencement of construction and year
of completion? Future life of the Building |
2014 |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
What was the method of construction by
contract/ by employing labour directly/ both?
|
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
For items of work done on contract, produce
copies of agreement |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
For items of work done by engaging labour
directly, Give basic rates of material and labour supported by documentary
proof. |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Whether the immovable property in question is
in possession of tenants or is self-occupied |
Owner occupied |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Whether it is vacant plot or building |
Land and Building |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Whether it is an agricultural, residential
or industrial area |
Industrial Area |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Sanction Plan |
Vide Case No: GIDC/XEN/ABD/PB/PLN/19 Dated: 05.01.2015 Approved by GIDC, Ahmedabad |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
VALUATION
MARKET VALUE
The Market Value of Industrial Plot No. 100/8/1,
Desai Cotton Industries situated at GIDC Industrial Estate, Dhandhuka,
Ahmedabad, Mouje Dhandhuka, Ta. City, District Ahmedabad Gujarat India at Rs.
13.212 Million as on 22.01.2015. REALIZABLE VALUE
DISTRESS VALUE
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
TECHNICAL DETAILS |
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
No of floors and height of each floor |
Industrial Plot No. 100/8/1 Ground Floor |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Plinth Area floor wise |
Land Area: 6705.43 Sq. Mt. Built up Area: 384.60 Sq. Mt. |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Year of Construction |
2014 |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Estimated future life |
New Construction |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Type of construction-Load Bearing wall/ RCC
frame/ Steel frame |
RCC frame structure |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Type of foundations |
RCC frame structure |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Walls · Basement and plinth · Ground Floor · Superstructure above ground floor |
Brick Masonry Wall |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Partitions |
Brick Masonry Wall |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Door and Windows (Floor-Wise) · Basement and plinth · Ground Floor and First floor ·
Second Floor and Third floor |
MS rolling shutter doors MS frame with designed windows |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Flooring (Floor-wise) · Basement and plinth · Ground Floor and First floor ·
Second Floor and Third floor |
I.P.S. Flooring |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Finishing (Floor Wise) · Basement and plinth · Ground Floor and First floor ·
Second Floor and Third floor |
Inside smooth plaster and outside sand face
plaster |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Roofing and Terracing |
MS Sheet and RCC slab as roofing |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Special Architectural or Decorative
features, if any |
Good building |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Internal Wiring – Surface or Conduit Class of fittings : Superior/ Ordinary/ Poor
|
NA |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Sanitary Installations · No. of water closets – · No. of lavatory basins – · No. of urinals – · No. of sinks – · No. of bath tubs – · No. of bidets – · No. of geysers - |
Installed |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Compound Wall · Height and Length · Type of construction |
Available |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
No. of lifts and capacity |
Not Applicable |
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Underground pump – capacity and type of
construction |
Available |
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Overhead Tanks · Where located · Capacity · Type of construction |
Available |
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Pumps – No. and their horse power |
Available |
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Roads and paving within the compound |
Internal Road |
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Sewage disposal whether connected to public
sewers. If septic tanks provided, No. and capacity |
Plan are section by GIDC |
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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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the
property or assets of the subject are derived from criminal conduct or a
prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No
record exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 64.88 |
|
|
1 |
Rs. 99.89 |
|
Euro |
1 |
Rs. 72.06 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
BVA |
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.