MIRA INFORM REPORT

 

 

Report No. :

340061

Report Date :

18.09.2015

 

IDENTIFICATION DETAILS

 

Name :

HI TECH PLASTICS

 

 

Registered Office :

83A, “Santosh” Suvernpuri Society, Chikuwadi, Jetalpur Road, Vadodara – 390007, Gujarat

Mobile No.:

91-9825043641 [Mr. Dilipbhai Vimalbhai Dalal]

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015 (Provisional) [Proprietary Firm]

 

 

Date of Establishment :

1990 [Proprietary Firm]

01.04.2015 [Partnership Firm]

 

 

Capital Investment :

Rs. 4.408 Million

 

 

TIN No.:

24190202034

 

 

PAN No.:

[Permanent Account No.]

AAIFH5884M

 

 

Legal Form :

Partnership Concern with an Unlimited Liability of the Partners

 

 

Line of Business :

Manufacturer of Plastic Injection Moulded Articles and Other Related Plastic Items.

 

 

No. of Employees :

30 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was originally promoted by Mr. Dilip Dalal in the year 1990 as a proprietary concern and it was reconstituted as a partnership concern in the year 2015 with additional two partners Mr. Nishant Shah and Mrs. Meghaben.

 

Subject is a manufacturer of plastic injection moulded articles and other related plastic items. It is an authorized vendor for Gujarat Cooperative Milk Marketing Federation Limited (GCMMF).

 

As per financial record of 2014, firm has reported growth of 23.26% on total revenue at Rs. 40.900 Million as against the previous revenue of Rs. 33.200 Million and it has maintained above average net profit margins at 2.17%.

 

With respect to the provisional financial of 2015, firm reported dip in its revenue profile which has resulted into dip in profit of the firm.

 

However, rating also takes into account of its established track record of business operations supported by above average financial risk profile and modest debt protection metrics of the firm.

 

Trade relations are reported as fair. Payment terms are reported to be usually correct.

 

In view of well-established operations of the firm backed by extensive industry experience of its partners in plastic industry, the firm can be considered good for normal business dealings at usual trade terms and conditions.

 

NOTE:

Mr. Dilip Dalal has informed us that subject was established in the year 1990 but it has registered a firm with VAT Authority in the year 2002 (Registration No. 24190202034).

 

 

 

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. Dilipbhai Vimalbhai Dalal

Designation :

Partner

Contact No.:

91-9825043641

Date :

15.09.2015

 

 

LOCATIONS

 

Registered Office :

83A, “Santosh” Suvernpuri Society, Chikuwadi, Jetalpur Road, Vadodara – 390007, Gujarat, India

Tel. No.:

Not Available

Mobile No.:

91-9825043641 [Mr. Dilipbhai Vimalbhai Dalal]

Fax No.:

Not Available

E-Mail :

hitech111@gmail.com

Area :

1500 Sq. ft.

Location :

Owned

 

 

Factory :

Near Water Tank, Ranoli Village, District Baroda, Gujarat, India

Area :

3000 Sq. ft.

Location :

Owned

 

 

PARTNERS

 

Name :

Mr. Dilipbhai Vimalbhai Dalal

Designation :

Partner

Address :

83A, “Santosh” Suvernpuri Society, Chikuwadi, Jetalpur Road, Vadodara – 390007, Gujarat, India

Date of Birth/Age :

30.06.1948

Qualification :

Graduate

Experience :

35 Years

Brief Profile :

Mr. Dilip is the active Partner of the firm and is the founder of Hi-Tech Plastics. Mr. Dalal is has gained acute knowledge in production as well as marketing and distribution network over last 20 year. He is having very sound relation with Gujarat Cooperative Milk Marketing Federation Limited (GCMMF). Mr. Dalal is looking after the overall management of the firm.

PAN No.:

ABQPD5935N

Voter ID :

GJ/22/148/532020

 

 

Name :

Mr. Nishant Rameshchandra Shah

Designation :

Partner

Address :

32, Chandrasiddh, Beverly Hills, Borsad, Anand, Gujarat, India

Date of Birth/Age :

14.05.1987

Qualification :

MBA

Experience :

1 Year

Brief Profile :

Mr. Nishant is has recently joined the firm in April 2015. Mr. Nishant is young and dynamic personality. Mr. Nishant is looking after the production and procurement division of the firm.

PAN No.:

BYNPS9735G

 

 

Name :

Mrs. Megha Rashmin Vyas

Designation :

Partner

Address :

74, Yogeshwar Society, Airport Main Road, Rajkot, Gujarat, India

Date of Birth/Age :

14.11.1979

Qualification :

B.A.

Experience :

1 Year

PAN No.:

AFKPV0094E

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Plastic Injection Moulded Articles and Other Related Plastic Items.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Credit [30 Days]

 

 

Purchasing :

Credit [30 Days]

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Rajive Petrochem Private Limited

Name of the Person (Designation):

Mr. Miteshbhai [Purchase Officer]

Contact Number:

91-9898992670

Since how long known:

3 Years

Maximum limit dealt:

Rs. 2.000 Million (p.m.)

Experience:

Product Quality = Excellent

Delivery Behaviour = Excellent

Overall = Excellent

Remark

They are satisfied with payment behaviour and market goodwill. No complaints.

 

 

Customers :

Others (Applicant is Sole Selling Agent for Amul India)

 

Reference:

Valsad District Cooperative Milk Producers Limited, Navsari

Name of the Person (Designation):

Mr. A.U. Chauhan [Purchase Officer]

Contact Number:

91-9377040666

Since how long known:

10 Years

Maximum limit dealt:

Rs. 3.000 Million (p.a.)

Experience:

Product Quality = Excellent

Delivery Behaviour = Excellent

Overall = Excellent

Remark

No Complaints. They are satisfied with product quality and delivery behaviour.

 

 

Reference:

Mehsana District Cooperative Milk Producers Limited, Mehsana

Name of the Person (Designation):

Mr. Subodh [Purchase Officer]

Contact Number:

91-9974056670

Since how long known:

10 Years

Maximum limit dealt:

Rs. 1.000 Million (p.m.)

Experience:

Product Quality = Excellent

Delivery Behaviour = Excellent

Overall = Excellent

Remark

No Complaints. They are satisfied with product quality.

 

 

Reference:

Kaira District Cooperative Milk Producers Limited, Anand

Name of the Person (Designation):

Mr. Surendrabhai [Purchase Officer]

Contact Number:

91-9727795723

Since how long known:

15 Years

Maximum limit dealt:

Rs. 1.000 Million (p.m.)

Experience:

Product Quality = Excellent

Delivery Behaviour = Excellent

Overall = Excellent

Remark

They are very much satisfied with product quality and delivery behaviour. No complaints.

 

 

No. of Employees :

30 (Approximately)

 

 

Bankers :

Bank Name:

Federal Bank Limited

Branch:

R.C. Dutt Road, Alkapuri, Baroda, Gujarat, India

Person Name (with Designation):

Mr. Sanjay N. Dahivalkar [Senior Manager and Branch Head]

Contact Number:

91-9824002712

Name of Account Holder:

Hi Tech Plastics

Account Number:

13355500014314

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

23.12.2004

Average Balance Maintained (Optional):

--

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

Cash Credit = Rs. 3.000 Million

Account Operation:

Very Good

Remarks: Satisfactory

 

 

Facilities :

SECURED LOANS

31.03.2015

(Provisional)

31.03.2014

Bank OD A/c

 

 

Federal Bank Limited – CC 14314

2.890

Federal Bank Limited – OD 14800

 

0.539

Loans

 

 

Bajaj Finserv Limited

 

0.970

HDB Financial Services Limited

 

0.337

Kotak Mahindra Bank

 

0.622

 

 

 

Total

 

4.712

5.358

 

 

 

Auditors :

 

Name :

Sanjay C. Shah and Company

Chartered Accountants

Address :

701-A, Arihant Super Market, Near Lalbaug Crossing, Manjalpur, Baroda – 390011, Gujarat, India

Mobile No.:

91-9825029948

E-Mail :

sanjay_1990@hotmail.com

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015 (PROVISIONAL)

 

Capital Investment :

 

Owned :

Rs. 4.408 Million

Borrowed :

--

Total :

Rs. 4.408 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

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

 

[PROPRIETARY FIRM]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

[Provisional]

31.03.2014

31.03.2013

SHAREHOLDERS FUNDS

 

 

 

1] Capital

4.408

3.326

3.254

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

4.408

3.326

3.254

LOAN FUNDS

 

 

 

1] Secured Loans

4.712

5.358

3.531

2] Unsecured Loans

1.679

1.520

4.090

TOTAL BORROWING

6.391

6.878

7.621

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

10.799

10.204

10.875

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

1.473

1.581

1.623

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

1.478

1.289

1.290

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
9.588

9.543

11.108

 

Sundry Debtors
4.525

4.380

3.095

 

Cash & Bank Balances
0.300

0.172

0.773

 

Other Current Assets
1.277

1.188

0.829

 

Loans & Advances
0.275

0.197

0.302

Total Current Assets
15.965

15.480

16.107

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
7.481

9.034

8.244

 

Other Current Liabilities
0.536

(1.017)

(0.302)

 

Provisions
0.100

0.129

0.203

Total Current Liabilities
8.117

8.146

8.145

Net Current Assets
7.848

7.334

7.962

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

10.799

10.204

10.875

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

[Provisional]

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Sales

31.400

40.957

33.226

 

 

Other Income

2.546

2.252

1.923

 

 

TOTAL                                    

33.946

43.209

35.149

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods sold

28.068

37.949

29.622

 

 

Direct Expenses

Electricity Expenses

1.254

1.074

0.979

 

 

Freight Inwards Expenses

0.037

0.027

0.050

 

 

Wages

0.811

0.730

0.627

 

 

Indirect Expenses

Bonus

0.166

0.102

0.089

 

 

Factory Expenses

0.085

0.075

0.024

 

 

Factory Rent

0.285

0.171

0.073

 

 

Freight Outward Expenses

0.669

0.433

0.573

 

 

Interest on Loan

0.229

0.239

0.213

 

 

Interest on Loan (NBFC)

0.240

0.242

0.341

 

 

Interest on OD

0.467

0.500

0.106

 

 

VAT ITC Reduction

0.345

0.286

0.213

 

 

Other Expenses

0.208

0.225

0.770

 

 

TOTAL                                    

32.864

42.053

33.680

 

 

 

 

 

 

PROFIT BEFORE DEPRECIATION AND AMORTISATION

1.082

1.156

1.469

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.000

0.266

0.225

 

 

 

 

 

 

NET PROFIT

1.082

0.890

1.244

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

[Provisional]

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)
3.45

2.17

3.74

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
6.20

5.22

3.74

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.25

0.27

0.38

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.45

2.07

2.34

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.97

1.90

1.98

 

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

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

 

31.03.2013

 

31.03.2014

 

31.03.2015 [Provisional]

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Capital

3.254

3.326

4.408

Reserves & Surplus

0.000

0.000

0.000

Net worth

3.254

3.326

4.408

 

 

 

 

Secured Loans

3.531

5.358

4.712

Unsecured Loans

4.090

1.520

1.679

Total borrowings

7.621

6.878

6.391

Debt/Equity ratio

2.342

2.068

1.450

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

 

31.03.2013

 

31.03.2014

 

31.03.2015 [Provisional]

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

33.226

40.957

31.400

 

 

23.268

-23.334

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

 

31.03.2013

 

31.03.2014

 

31.03.2015 [Provisional]

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

33.226

40.957

31.400

Profit

1.244

0.890

1.082

 

3.74%

2.17%

3.45%

 

 

 

 

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

Yes

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

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

 

 

 

 

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

 

UNSECURED LOANS

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2015

(Provisional)

31.03.2014

 

 

 

B.G. Joshi

 

0.150

Neela D. Dalal

 

0.050

Nirmalaben R. Shah

 

1.000

P.R. Amin

 

(0.035)

Rashesh D. Dalal

 

0.055

Shah and Patel Shroff

 

0.300

 

 

 

Total

 

1.679

1.520

 

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

 

COMPUTATION OF TOTAL INCOME

 

(RS. IN MILLION)

 

PARTICULARS

31.03.2014

 

 

 

 

 

PROFITS AND GAINS FROM BUSINESS AND PROFESSION

 

 

0.491

 

 

 

 

HI TECH PLASTICS

 

 

 

Profit before Tax as per Profit and Loss Account

 

0.890

 

Add:

 

 

 

Depreciation Disallowed

0.266

 

 

Disallowed u/s 40A

0.005

0.271

 

 

 

1.161

 

Less:

 

 

 

Interest Income (SB)

0.001

 

 

Interest on FDR

0.075

 

 

Allowed Depreciation

0.266

0.342

 

 

 

0.819

 

 

 

 

 

DILIP V. DALAL

 

 

 

Profit before Tax as per Profit and Loss Account

 

(0.295)

 

Less: Dividend

 

(0.033)

 

 

 

(0.328)

 

 

 

 

 

INCOME FROM OTHER SOURCES

 

 

0.081

Interest on SB Account

 

0.001

 

Interest on Bank FDR

 

0.075

 

Federal Bank Recurring Interest

 

0.005

 

 

 

0.081

 

 

 

 

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

GROSS TOTAL INCOME

 

 

0.572

 

 

 

 

LESS: DEDUCTIONS UNDER CHAPTER VIA

 

 

 

80C Deduction

 

0.100

 

80D Medical Insurance Premia

 

0.015

 

80DD Medical Treatment of Handicapped Dependent

 

0.050

 

80TTA Interest on Deposits in Saving Account

 

0.001

 

TOTAL DEDUCTIONS

 

 

0.166

 

 

 

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

 

 

 

 

TOTAL INCOME

 

 

0.406

 

 

 

 

TOTAL INCOME ROUNDED OFF U/S 288A

 

 

0.406

 

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

 

CALCULATION OF DSCR

 

(RS. IN MILLION)

 

PARTICULARS

 

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

 

 

 

 

 

Net Profit

1.548

2.264

3.125

4.106

 

 

 

 

 

Depreciation

0.347

0.313

0.281

0.253

 

 

 

 

 

Term Loan Interest

0.782

0.591

0.294

0.102

 

 

 

 

 

Total Inflow

2.677

3.167

3.701

4.461

 

 

 

 

 

Term Loan Installments

1.524

1.480

1.039

0.113

 

 

 

 

 

Term Loan Interest

0.782

0.591

0.294

0.102

 

 

 

 

 

Total Outflow

2.306

2.071

1.333

0.214

 

 

 

 

 

DSCR

1.16

1.53

2.78

20.81

 

 

 

 

 

Average DSCR

2.36

 

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

 

BALANCE SHEET ANALYSIS

 

(RS. IN MILLION)

 

PARTICULARS

 

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

ASSETS

 

 

 

 

Period (in months)

12

12

12

12

 

 

 

 

 

FIXED ASSETS

 

 

 

 

Gross Block

3.473

3.126

2.813

2.532

Depreciation

0.347

0.313

0.281

0.253

Revaluation Reserves 

0.000

0.000

0.000

0.000

 

 

 

 

 

NET BLOCK

3.126

2.813

2.532

2.279

Capital WIP

--

--

--

--

 

 

 

 

 

Investments

1.479

1.479

1.479

1.479

 

 

 

 

 

Current Assets:

 

 

 

 

Inventories

 

 

 

 

Raw Material

 

 

 

 

Indigenous

10.547

11.602

12.762

14.038

Imported

0.000

0.000

0.000

0.000

 

 

 

 

 

Stock in progress

0.000

0.000

0.000

0.000

 

 

 

 

 

Finished Goods

0.000

0.000

0.000

0.000

 

 

 

 

 

Stores and Spares

0.000

0.000

0.000

0.000

 

 

 

 

 

Traded Products

0.000

0.000

0.000

0.000

 

 

 

 

 

Others (Packing Material)

0.000

0.000

0.000

0.000

 

 

 

 

 

Total

10.547

11.602

12.762

14.038

 

 

 

 

 

Debtors

 

 

 

 

Over 6 Months

0.000

0.000

0.000

0.000

Export Receivables

0.000

0.000

0.000

0.000

Local Receivables

5.203

7.422

7.821

9.880

 

 

 

 

 

Total

5.203

7.422

7.821

9.880

 

 

 

 

 

Cash and Bank Balance

 

 

 

 

In Margin Money Account

0.700

1.225

1.225

1.225

Cash and Bank Balance

0.360

0.432

0.518

0.622

 

 

 

 

 

Loans and Advances

 

 

 

 

Group Co./ Staff/ ICDs

0.000

0.000

0.000

0.000

Suppliers and Others

1.862

2.235

2.682

3.218

 

 

 

 

 

Others

 

 

 

 

Of Current Nature

0.000

0.000

0.000

0.000

Of Non-Current Nature

0.000

0.000

0.000

0.000

 

 

 

 

 

TOTAL CURRENT ASSETS

18.672

22.915

25.008

28.983

 

 

 

 

 

TOTAL ASSETS

23.277

27.207

29.018

32.740

 

 

 

 

 

LIABILITIES

 

 

 

 

Capital

 

 

 

 

Equity

4.126

4.126

4.126

4.126

Share Application Money

0.000

0.000

0.000

0.000

Quasi Equity Unsecured Loans

1.679

1.679

1.679

1.679

 

 

 

 

 

Reserves and Surplus

2.630

4.893

8.019

12.125

Debit balance in P&L Account

0.000

0.000

0.000

0.000

Prem. Exps/ Misc. Exps not w/o

0.000

0.000

0.000

0.000

Revaluation Reserves

0.000

0.000

0.000

0.000

 

 

 

 

 

TANGIBLE NETWORTH

8.434

10.698

13.824

17.929

 

 

 

 

 

TERM LIABILITIES

 

 

 

 

Secured

2.631

1.151

0.113

0.000

Deposits

0.000

0.000

0.000

0.000

Unsecured (Including Preference Shares and Deferred Tax Liability)

0.000

0.000

0.000

0.000

 

 

 

 

 

Total

2.631

1.151

0.113

0.000

 

 

 

 

 

Current Liabilities

 

 

 

 

Creditors

2.322

5.153

4.893

5.064

 

 

 

 

 

Loans and Advances

0.000

0.000

0.000

0.000

 

 

 

 

 

Provisions

 

 

 

 

Tax

0.692

1.012

1.398

1.836

Others

0.110

0.121

0.133

0.146

 

 

 

 

 

Bank Borrowings

7.000

7.000

7.000

7.000

 

 

 

 

 

Others

0.563

0.591

0.620

0.651

 

 

 

 

 

LT Liabilities due within 1 year

1.524

1.480

1.039

0.113

 

 

 

 

 

TOTAL CURRENT LIABILITIES

12.211

15.357

15.082

14.811

 

 

 

 

 

TOTAL LIABILITIES

23.277

27.207

29.019

32.740

 

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

 

INCOME STATEMENT

 

(RS. IN MILLION)

 

PARTICULARS

 

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

 

 

 

 

 

Sales

45.000

54.000

64.800

77.760

 

 

 

 

 

Total Income

 

 

 

 

Export

0.000

0.000

0.000

0.000

Domestic

0.000

0.000

0.000

0.000

 

 

 

 

 

Gross Sales

45.000

54.000

64.800

77.760

(-) Excise Duty and Sales Tax

0.000

0.000

0.000

0.000

 

 

 

 

 

Net Sales

45.000

54.000

64.800

77.760

 

 

 

 

 

Other Operating Income

3.056

3.667

4.400

5.280

 

 

 

 

 

TOTAL INCOME

48.056

57.667

69.200

83.040

 

 

 

 

 

EXPENSES

 

 

 

 

Raw Material and Stores and Spares Consumed

 

 

 

 

Opening Stock

9.588

10.547

11.602

12.762

Purchase of Raw Materials and Stores and Spares

40.700

48.840

58.558

70.020

Closing Stock

10.547

11.602

12.762

14.038

 

39.741

47.785

57.398

68.743

 

 

 

 

 

Manufacturing Expenses

1.420

1.562

1.768

1.945

(Increase)/ Decrease in WIP

0.000

0.000

0.000

0.000

Depreciation

0.347

0.313

0.281

0.253

 

 

 

 

 

COST OF PRODUCTION

41.509

49.660

59.447

70.942

(Increase)/ Decrease in Finished Goods and Stores and Spares

0.000

0.000

0.000

0.000

 

 

 

 

 

Trading Activity

 

 

 

 

Opening Stock

0.000

0.000

0.000

0.000

Purchases

0.000

0.000

0.000

0.000

Closing Stock 

0.000

0.000

0.000

0.000

 

 

 

 

 

Cost of Sales

41.509

49.660

59.447

70.942

 

 

 

 

 

Gross Profit

6.547

8.007

9.753

12.099

 

 

 

 

 

Personal Expenses

0.932

1.137

1.421

1.777

 

 

 

 

 

Administrative Expenses

1.613

2.016

2.520

3.276

 

 

 

 

 

Other Expenses (Financial Charges)

0.067

0.073

0.081

0.089

 

 

 

 

 

Interest

1.696

1.505

1.208

1.015

 

 

 

 

 

Operating Profit

2.240

3.276

4.523

5.942

 

 

 

 

 

Non-Operating Surplus/ (Deficit)

0.000

0.000

0.000

0.000

 

 

 

 

 

Profit before Tax

2.240

3.276

4.523

5.942

 

 

 

 

 

Provision for Tax

0.692

1.012

1.398

1.836

 

 

 

 

 

Profit after Tax

1.548

2.264

3.125

4.106

 

 

 

 

 

Dividend

 

 

 

 

Equity

0.000

0.000

0.000

0.000

Preference

0.000

0.000

0.000

0.000

Dividend Tax

0.000

0.000

0.000

0.000

 

 

 

 

 

Retained Earnings

1.548

2.264

3.125

4.106

 

 

 

 

 

Cash Generation

1.895

2.576

3.407

4.359

 

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

 

FINANCIAL RATIOS

 

(RS. IN MILLION)

 

PARTICULARS

 

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

 

 

 

 

 

Growth in Net Sales (p.a.)

41.56%

20.00%

20.00%

20.00%

 

 

 

 

 

Trading Sales/ Total Sales

0.00%

0.00%

0.00%

0.00%

 

 

 

 

 

Material Cost/ Net Mfg. Sales

88.31%

88.49%

88.58%

88.40%

 

 

 

 

 

Manufacturing Cost/ Net Sales

3.16%

2.89%

2.73%

2.50%

 

 

 

 

 

LIQUIDITY RATIOS

 

 

 

 

Current Ratio

1.53

1.49

1.66

1.96

 

 

 

 

 

Quick Ratio

0.67

0.74

0.81

1.01

 

 

 

 

 

CURRENT RATIO (EXCL. TL. INSTT. AS CL.)

1.75

1.65

1.78

1.97

 

 

 

 

 

TURNOVER RATIOS

 

 

 

 

Inventory (Mths)

3.05

2.80

2.58

2.37

Trade Debtors (Mths)

 

 

 

 

Domestic

1.39

1.65

1.45

1.52

Export

0.00

0.00

0.00

0.00

 

 

 

 

 

Trade Creditors (Mths)

0.68

1.27

1.00

0.87

 

 

 

 

 

LEVERAGE RATIOS

 

 

 

 

Debt-Equity

0.64

0.31

0.15

0.10

 

 

 

 

 

TOL/TNW

2.45

2.02

1.39

1.01

 

 

 

 

 

TOL/(TNW + Quasi Equity)

1.76

1.54

1.10

0.83

 

 

 

 

 

Interest Coverage

2.53

3.39

4.98

7.10

 

 

 

 

 

DSCR

1.12

1.37

2.05

4.76

 

 

 

 

 

Interest / Borrowings

15.20%

15.62%

14.81%

14.27%

 

 

 

 

 

OPBDIT

4.283

5.093

6.012

7.210

 

 

 

 

 

PROFITABILITY RATIOS

 

 

 

 

Gross Margin

13.62%

13.88%

14.09%

14.57%

 

 

 

 

 

Operating Margin

4.66%

5.68%

6.54%

7.16%

 

 

 

 

 

Net Margin

3.22%

3.93%

4.52%

4.94%

 

 

 

 

 

Return on Capital Employed

18.13%

18.51%

20.52%

21.85%

 

 

 

 

 

Return on Networth

22.91%

25.10%

25.74%

25.27%

 

 

 

 

 

PBDIT

4.283

5.093

6.012

7.210

 

 

 

 

 

Ploughback Ratio

100.00%

100.00%

100.00%

100.00%

 

 

 

 

 

Payout Ratio

0.00%

0.00%

0.00%

0.00%

 

 

 

 

 

WORKING CAPITAL ASSESSMENT

8.91%

8.83%

8.69%

8.68%

 

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

 

WORKING CAPITAL ASSESSMENT

 

(RS. IN MILLION)

 

PARTICULARS

 

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

Raw Materials

 

 

 

 

Indigenous

0.000

0.000

0.000

0.000

(Months)

0

0

0

0

 

 

 

 

 

Raw Materials

10.547

11.602

12.762

14.038

(Months)

3.18

2.91

2.67

2.45

 

 

 

 

 

Work in Progress

0.000

0.000

0.000

0.000

(Months)

--

--

--

--

 

 

 

 

 

Finished Goods

0.000

0.000

0.000

0.000

(Months)

--

--

--

--

 

 

 

 

 

Others

0.000

0.000

0.000

0.000

 

 

 

 

 

Sundry Debtors

 

 

 

 

Domestic

5.203

7.422

7.821

9.880

(Months)

1.39

1.65

1.45

1.52

 

 

 

 

 

Export

0.000

0.000

0.000

0.000

(Months)

--

--

--

--

 

 

 

 

 

Cash and Bank Balance

0.360

0.432

0.518

0.622

 

 

 

 

 

Advances

1.862

2.235

2.682

3.218

 

 

 

 

 

Others CA

0.000

0.000

0.000

0.000

 

 

 

 

 

TOTAL CURRENT ASSETS (FOR MPBF)

17.972

21.690

23.783

27.758

 

 

 

 

 

Creditors

2.322

5.153

4.893

5.064

(Months)

0.68

1.27

1.00

0.87

 

 

 

 

 

Other Current Liabilities (excl. Bank Borrowings)

1.365

1.724

2.151

2.634

 

 

 

 

 

TOTAL CURRENT LIABILITIES

3.687

6.877

7.044

7.698

 

 

 

 

 

W C Gap

14.286

14.813

16.739

20.060

 

 

 

 

 

25% Margin (excl. Export Debtors)

4.493

5.422

5.946

6.940

 

 

 

 

 

Actual / Projected Net WC (CA-CL)

7.286

7.813

9.739

13.060

 

 

 

 

 

MPBF-I

9.793

9.391

10.793

13.121

MPBF-II

7.000

7.000

7.000

7.000

 

 

 

 

 

MPBF

7.000

7.000

7.000

7.000

 

 

 

 

 

Excess Borrowings

--

--

--

--

 

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

 

FINANCIAL DETAILS

 

(RS. IN MILLION)

 

PARTICULARS

 

31.03.2016

(Projected)

31.03.2017

(Projected)

31.03.2018

(Projected)

31.03.2019

(Projected)

 

 

 

 

 

Net Sales

48.056

57.667

69.200

83.040

 

 

 

 

 

Operating Profit

4.283

5.093

6.012

7.210

 

 

 

 

 

Other Income

0.000

0.000

0.000

0.000

 

 

 

 

 

PBDIT

4.283

5.093

6.012

7.210

 

 

 

 

 

Depreciation and Amortisation

0.347

0.313

0.281

0.253

 

 

 

 

 

Interest and Financial Charges

1.762

1.578

1.288

1.104

 

 

 

 

 

Profit before Tax (PBT)

2.240

3.276

4.523

5.942

 

 

 

 

 

Profit after Tax (PAT)

1.548

2.264

3.125

4.106

 

 

 

 

 

Cash Accruals

1.895

2.576

3.407

4.359

 

 

 

 

 

Share Capital

4.126

4.126

4.126

4.126

 

 

 

 

 

Reserves and Surplus

2.630

4.893

8.019

12.125

 

 

 

 

 

Misc. Exp. Not w/off

0.000

0.000

0.000

0.000

 

 

 

 

 

TNW

6.756

9.019

12.145

16.250

 

 

 

 

 

USL as Quasi Equity

1.679

1.679

1.679

1.679

 

 

 

 

 

Adjusted TNW

8.434

10.698

13.824

17.929

 

 

 

 

 

TTL

2.631

1.151

0.113

0.000

 

 

 

 

 

TOL

14.842

16.508

15.195

14.811

 

 

 

 

 

Net Sales Growth %

41.56%

20.00%

20.00%

20.00%

 

 

 

 

 

PBDIT Margin %

8.91%

8.83%

8.69%

8.68%

 

 

 

 

 

PAT Margin %

3.22%

3.93%

4.52%

4.94%

 

 

 

 

 

ROCE

35.56%

40.34%

41.12%

38.80%

 

 

 

 

 

TOL/ TNW

2.45

2.02

1.39

1.01

 

 

 

 

 

Adj. TOL/ TNW

1.76

1.54

1.10

0.83

 

 

 

 

 

TTL/ TNW

0.64

0.31

0.15

0.10

 

 

 

 

 

Adj. TTL/ TNW

0.31

0.11

0.01

0.00

 

 

 

 

 

Current Ratio

1.53

1.49

1.66

1.96

 

 

 

 

 

Current Ratio w/o TL inst.

1.75

1.65

1.78

1.97

 

 

 

 

 

Interest Coverage Ratio

2.53

3.39

4.98

7.10

 

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

 

NETWORTH STATEMENT

 

MR. DILIP V. DALAL

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

31.03.2015

 

ASSETS

 

1

Residential House at 83 A, “Santosh” Suvernpuri Society, Chikuwadi, Vadodara

7.000

 

 

 

2

Cash and Bank Balance

0.100

 

 

 

3

Ornaments and Other Investments

0.500

 

 

 

4

Cash and bank Balance

0.450

 

 

 

 

Total

8.050

 

 

 

 

OUTSTANDING LIABILITIES

 

1

Liabilities with Banks/ Financial Institutions

0.000

 

 

 

 

Total

0.000

 

 

 

 

NETWORTH [ASSETS – LIABILITIES]

 

8.050

 

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

 

NETWORTH STATEMENT

 

MR. NISHANT R. SHAH

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

31.03.2015

 

ASSETS

 

1

Residential House at 32, Chandrasiddh, Beverly Hills, Borsad, Anand

5.000

 

 

 

2

Cash and Bank Balance

0.100

 

 

 

3

Ornaments and Other Investments

0.300

 

 

 

4

Cash and bank Balance

0.570

 

 

 

 

Total

5.970

 

 

 

 

OUTSTANDING LIABILITIES

 

1

Liabilities with Banks/ Financial Institutions

0.000

 

 

 

 

Total

0.000

 

 

 

 

NETWORTH [ASSETS – LIABILITIES]

 

5.970

 

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

 

NETWORTH STATEMENT

 

MRS. MEGHA R. VYAS

 

(RS. IN MILLION)

 

SR. NO.

PARTICULARS

31.03.2015

 

ASSETS

 

1

Residential House at 74, Yogeshwar Society, Airport Main Road, Rajkot

6.000

 

 

 

2

Cash and Bank Balance

0.100

 

 

 

3

Ornaments and Other Investments

0.700

 

 

 

4

Cash and bank Balance

0.610

 

 

 

 

Total

7.410

 

 

 

 

OUTSTANDING LIABILITIES

 

1

Liabilities with Banks/ Financial Institutions

0.000

 

 

 

 

Total

0.000

 

 

 

 

NETWORTH [ASSETS – LIABILITIES]

 

7.410

 

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

 

BACKGROUND OF THE FIRM

 

Subject is a partnership firm was established on 01.04.2015 with the main objective of manufacturing of plastic injection moulded articles and other related items. Firm is situated at Near Water Tank, Ranoli Village, District Baroda – 391350. Firm was originally promoted by Mr. Dilip Dalal in the year 1990 under his proprietorship. For better growth prospects and internal management, it got reconstituted as partnership firm on 1st April 2015 with addition of other two partners namely Mr. Nishant Shah and Mrs. Meghaben Vyas.

 

Since incorporation, firm is into the business of manufacturing of Plastic Injection moulded articles and other related plastic items. Firm is having rented factory premises of approx. 3000 sq. ft. at Ranoli Industrial Estate, Vadodara. Firm is having all kind of requisite machineries installed in the factory and other infrastructure facility.

 

Firm purchases the raw material in the form of Plastic granules from IOCL, Supreme Industries, LG Chemicals and BSF on advance payment terms. Plastic granules are put under hopper for heating and melting process. After the heating process, raw material gets converted into powder form and then injunction process and cooling process is done for converting into finished material in the form of Plastic packing caps and tins.

 

Subject is the authorized vendor for Gujarat Cooperative Milk Marketing Federation Limited (GCMMF) since last 20 years. Finished material in the form of plastic tins and caps are dispatched to various milk federation across India mainly in Gujarat, Pondicherry, Bangalore, Nagpur, Kolkata, Virar and Gudgaon as per the delivery schedule provided by GCMMF. Average credit period allowed is 30 to 45 days.

 

GCMMF has recently opened a new plant in USA for which GCMMF has given the mandate for supply of all plastic tins and caps for its entire production in US plant. This will increase the present turnover of the firm by at least 35% to 40%. Considering this, firm has estimated the turnover of Rs. 45.000 Million for FY16 and of the Rs. 54.000 Million for FY17.     

 

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

 

VALUATION REPORT

 

VALUATION REPORT OF IMMOVABLE PROPERTY LOCATED AT: JETALPUR, TA & DIST. VADODARA

 

(GENERAL DETAILS)

 

Purpose of Valuation

To ascertain present market value of freehold interest in Residential flat.

 

 

Date of Visit

05.08.2015

 

 

Persons accompanying/ available at the site at the time of visit/ valuation

Mr. Dilipkumar Vimalbhai Dalal

 

 

Complete address of the property (Door No./ Street/ Cross Road, Survey No. etc)

R.S. No. 124, paiki Plot No. 83-A, Flat No. A/3, First Floor, “Santosh”, Suvarnapuri Society, Chikuwadi-Jetalpur Road, At-Jetalpur, Ta: and District Vadodara.

 

 

Boundaries

 

East

Rajmarg

West

R.S. No. 128

North

R.S. No. 96/1, Plot No. 84 paiki Plot No. 83-B

South

Plot No. 82

 

 

Title of the property

 

Name of the Owner

Mr. Dilipkumar Vimalbhai Dalal

 

 

Since how long owing the property

In year 1992 through Registered Sale Deed

 

 

Whether joint/ co-ownership/ other

NA

 

 

In case of joint ownership, please furnish shares of each owner and whether the share are undivided?

NA

 

 

Whether assessed to wealth tax, if so, wealth tax paid 

NA

 

 

Corporation Tax paid

Receipt is not on Record.

 

 

Restrictive clauses as to uses, if any (whether building use certificate from corporation has been obtained etc.)

Residential purpose. Construction permission is obtained from Vadodara Municipal Corporation vide Order No: 36/1990-91. Dated 30.04.1990. 

 

 

Location advantages/ disadvantages

Schools, Resi. Society, Markets, Bus Stand etc. are available at Walkable Distance

 

 

Classification of locality: Higher Class/ Middle Class/ Poor Class 

Residential cum Commercial area 

 

 

Civic Amenities

All located within 1 to 2 kms

 

 

Proximity to surface communication

The property is situated on Main Road Complex.

 

 

Distance from city/ Municipal Limits

Within Vadodara Municipal Corporation Limits.

 

 

If the property is not within the city/ town Municipal limits then state the distance of the property from the Municipal office

Within City Limits

 

 

Municipal limits

Within Vadodara Municipal Corporation Limits

 

 

Disadvantages if any to be specified

Nil

 

 

Title of the property

 

Whether freehold

Yes, Freehold

 

 

If not freehold, what is unexpired period of Lease?

NA

 

 

If leasehold, name of the lessor/ lessee nature of lease, date of commencement and forms of renewal of lease

NA

 

 

Rent per annum

NA

 

 

Unearned increases payable to the lessor in the event of safe or transfer

NA

 

 

Type of property-whether

 

Agriculture

NA

 

 

Industrial

NA

 

 

Residential (flat apartment) (any restrictive clauses for sale etc. to be furnished) renewal of lease

Residential Flat 

 

 

Commercial

NA

 

 

Institutional

NA

 

 

Others (Specify)

NA

 

 

What is the -

 

Year of acquisition purchase of land

In year 1992 through Registered Sale Deed

 

 

Value / purchase price paid

Rs. 75000.00 through Registered Sale Deed No. 5598. Dated 27.03.1992.

 

 

Year of construction of super structure

App. 30 years old

 

 

Numbers of floors / storeys

Ground Floor + 2 Storey Building but Subject property is on First Floor.

 

 

Year of completion

App. 30 years old

 

 

Additions/ improvements carried out if any state briefly nature of additional cost thereof

As per Valuation Part

 

 

Present written down value

As per Valuation Part

 

 

Estimate future life

App. 30 years

 

 

Area of land to be supported by a map showing shape, dimensions, physical features

Undivided share of land

 

 

Has the whole or part of the land been notified for acquisition by Govt. or statutory body? If so give details  

NA

 

 

Area of building/ constructed portion (State separately for factory, admin. Building, staff quarters etc.)

Built up Area

72.28 Sq. ft. (Flat)

53.07 Sq. Mt. (Terrace Area)

 

 

Type/ Class of construction

RCC Frame structure type Construction

 

 

Service items available (list of all the items to be provided-such as borewell sump embedded. Motors, BMC water supply, sanitary disposal systems, canteen stores etc.)

Water connection is provided by Appartment borewell and Corporation and Drainage is connected to Public sewer.

 

 

If the property is industrial -

 

State for what type of activity / industry the – premise is well suited

NA

 

 

Sanctioned/ connected power load

NA

 

 

Type of activity presently going on at the premises

NA

 

 

Whether the property is residential flat apartment is so, then state 

Yes

When the building was constructed

App. 30 years old

 

 

Whether full consideration has been paid and proper title documents obtained and produced for verification?

Yes

 

 

In which floor/ storey, flat is located

1st Floor

 

 

If the property is of a commercial type state

NA

For what purpose the same is well suited (Office purpose/ business etc.)

NA

 

 

The present activity/ business being

NA

 

 

If the property is agriculture state

 

Whether dry or wet lands 

NA

 

 

Migration facility available

NA

 

 

Type of crops grown and annual yield income in the previous year

NA

 

 

Whether building/ property is constructed strictly according to the sanctioned plan details of variation, noticed of any and effect of the same on the valuation to be dealt with specifically.

Residential purpose. Construction permission is obtained from Vadodara Municipal Corporation vide Order No.: 36/1990-91. Dated 30.04.1990.

 

 

Whether the property is self occupied or tenanted/ let out, if tenanted / let out 

Fully Owner Occupied

Since how long

--

 

 

To how many tenants

--

 

 

What is the total monthly income

--

 

 

If party owner occupied specify portion and extent of area under owner occupation

--

 

 

Whether the said property was valued earlier? If so,

NA

Date of valuation

--

Name and address of valuer

--

Whether in the approved panel of bank

--

Purpose of earlier valuation

--

Basis of valuation

--

 

 

Basis of present valuation

 

Present depreciated value 

As per Valuation Part

 

 

Market value

 

Rate adopted

Rs. 65000.00 per Sq. yard for Land and Building

 

 

Basis for adopted rates

By inquiry in surrounding

 

 

Whether the adopted rates are commensurate with the rates adopted by the Registrar’s office? In case of wide variation, please specify reasons

Yes, wide variation is observed because rates fixed by Registrar’s Office are not based on scientific studies and same cannot be applicable for ascertaining present market value.

 

 

Whether the adopted rates have any relationship with those adopted by I.T. Dept.

They have adopted rates as per open market in area

 

 

Whether the rates are based on prevalent rates in the area if so, the basis for accepting the same.

Yes, by inquiry

 

 

Incase of increase in present valuation over the previous valuation, then furnish the specify reasons, basis for the increase in value and the details of variation 

NA

 

 

Whether the building is insured-if so

 

For what value

Owner has to Furnished Details

 

 

Against what risks

Owner has to Furnished Details

 

 

Date of expiry of the insurance 

Owner has to Furnished Details

 

 

In case the Bank were to sell the property what would be approximate realizable value

85 to 90% as per valuation

 

 

 

VALUATION STATEMENT FOR THE MARKET VALUE OF RESIDENTIAL FLAT SITUATED AT: R.S. No. 124, paiki Plot No. 83-A, Flat No. A/3, First Floor, Tower – Santosh, Suvarnapuri Society, Chikuwadi-Jetalpur Road, At-Jetalpur, Ta: and District Vadodara.

 

Valuation of Building

 

The methodology adopted is depreciated Replacement cost method in which due weight ages have been given to factors like.

·         Size and locality, tenure of the building, user

·         Utility and design of building structures

·         Actual physical condition, state of repairs and maintenance

·         Type of construction general and special specifications

·         Age, remaining useful economic life of the structure

·         Demand for such structures

·         Limited marketability of such structure

·         Cost of building materials and related construction supplies in the surrounding area.

 

Valuation of land and building i.e. residential

 

The property is a residential flat situated on R.S. No. 124, paiki Plot No. 83-A, Flat No. A/3, First Floor, Tower – Santosh, Suvarnapuri Society, Chikuwadi-Jetalpur Road, At-Jetalpur, Ta: and District Vadodara.

 

The surrounding area is developed as a residential area. The day-to-day requirement and transport facilities like bus and auto rickshaws are available at Doorstep.

 

The property under valuation is a Residential Flat type house having 1st Floor construction. Drawing Room, Two Bed Room Kitchen and common Bath and Balconies are provided. The granites platform with full dado Glazed tiles is provided. The Flooring is done with mosaic tiles and kota stone. The toilet has full dado glazed tiles wooden doors and windows are provided. Usual facilities of water supply, electricity, drainage are available. The building is constructed on frame structure type construction. The gaps between the columns are filled up with brick masonry wall in cement mortar with smooth plaster inside and plastered outside. The roof is constructed of 4”thick RCC slab. The electrification is of open type. Water supply is by Building Apartment bore and Drainage is connected to public sewer.

 

In order to estimate the prevailing market value in the vicinity of the said property market enquiry was conducted amongst:

 

·         Property brokers

·         Real estate agents and

·         Occupants of the other existing property holders.

 

It reveals that the flat is available in nearby area in range of Rs. 65000.00 to Rs. 70000.00 per Sq. Mt. depending upon its size, shape, location, access from main road, frontage etc.

 

Considering above and keeping in view location, size, frontage, Distance from the main road, demand and supply in the said area, they have adopted the market rate for property at Rs. 65000.00 per Sq. Mt. which is quite fair and justified.

 

Land Value: Flat Rate considered

 

Valuation of Residential flat:

72.28 Sq. Mt. @ Rs. 65000.00 per Sq. Mt.

Rs. 4.698 Million  

 

 

 

Built up Area for Terrace

53.07 Sq. Mt. @ Rs. 40000.00 per Sq. Mt.

Rs. 2.123 Million

 

 

 

 

Total

Rs. 6.821 Million

(After completion of project) Valuation of residential flat

Rs. 6.821 Million

 

 

DIFFERENT VALUE AFTER COMPLETION

 

Present Market Value

Rs. 6.821 Million

 

 

Realizable Value 

Rs. 6.309 Million

 

 

Distress Sale Value

Rs. 5.798 Million

 

 

The Value of Land and Building as per Stamp duty Department (Exclusively meant for stamp duty Purpose) Basis of Valuation as per Mumbai Stamp Duty Act 1958 Section 32/C, (Does not represent the market value)

 

Value as per Jantry [72.28 Sq. Mt. @ Rs. 21750.00 per Sq. Mt.]

Rs. 1.572 Million

 

 

Total Jantri/ Registration Value 

Rs. 1.572 Million

 

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

 

FIXED ASSETS

 

·         Fire Extinguisher

·         Furniture

·         Office Equipment

·         Water Purifier

·         Air Conditioner

·         Vehicles

·         Mobiles

·         Plant and Machinery

·         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, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                                       None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs. 66.50

UK Pound

1

Rs. 102.00

Euro

1

Rs. 75.03

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

 

 

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

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