MIRA
INFORM REPORT
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Report Date : |
16.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
SNS
OVERSEAS PRIVATE LIMITED |
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Registered Office : |
76, Atlanta, 7th Floor, Nariman
Point, Mumbai – 400 021, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
15.06.1992 |
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Com. Reg. No.: |
11-67222 |
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CIN No.: [Company
Identification No.] |
U5199MH2004PTC067222 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS36303B |
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PAN No.: [Permanent
Account No.] |
AAECS3940E |
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Legal Form : |
Private
limited liability company |
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Line of Business : |
Exporters,
Importers, Merchants, Traders, Stockists, Suppliers, Indentors of Chemicals /
Drugs, Electronic Items, Aluminium Foils, Licenses, Paper, etc |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
50000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established company having satisfactory track records. Directors are reported as experienced,
respectable and resourceful businessmen.
Their trade relations are reported as fair. General financial position is satisfactory. Payments are reported as slow but
correct. The
company can be considered good for normal business dealings at usual trade
terms and conditions |
LOCATIONS
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Registered Office : |
76, Atlanta, 7th Floor, Nariman
Point, Mumbai – 400 021, Maharashtra, India |
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Tel. No.: |
91-22-2283 4100/22824100/22620968 |
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Fax No.: |
91-22-22301135 |
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E-Mail : |
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Website : |
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Area : |
400
sq. ft |
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Location : |
Owned |
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Branches
: |
·
5,
Lower Rowdon Street, Aakash Deep, 6th Floor, Kolkata – 700 020,
West Bengal ·
76,
Atlanta, Nariman Point, Mumbai – 400 021, Maharashtra |
DIRECTORS
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Name : |
Mr.
Suresh Deorah |
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Designation : |
Director |
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Address : |
15-Varsha, 9th Floor, 69-B,
Nepean Sea Road, Mumbai – 400 006 |
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Name : |
Mrs.
Prabha Deorah |
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Designation : |
Chairperson |
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Address : |
15-Varsha, 9th Floor, 69-B, Nepean
Sea Road, Mumbai – 400 006 |
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Name : |
Mr.
Neeraj Deorah |
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Designation : |
Director |
KEY EXECUTIVES
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Name
: |
Mr.
Dinesh Kumar Deora |
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Designation
: |
Director |
BUSINESS DETAILS
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Line of Business : |
Exporters,
Importers, Merchants, Traders, Stockists, Suppliers, Indentors of Chemicals /
Drugs, Electronic Items, Aluminium Foils, Licenses, Paper, etc |
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Products : |
v
Chemicals
/ Drugs v
Electronic
items v
Aluminium
Foils v
Licenses v
Paper |
GENERAL
INFORMATION
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No. of Employees : |
5 |
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Bankers : |
v
Indian
Overseas Bank Bakhtawar, Nariman Point, Mumbai – 400 021, Maharashtra v
Citi
Bank |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory |
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Auditors : |
Vinod
Rana & Company Chartered
Accountants, |
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Address |
52, 1st
Khattar Gali, No. 47, 1st Floor, Amar Wadi Back Building, C. P.
Tank, Mumbai 400 004, Maharashtra |
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Tel. No.: |
91-22-2389
6484 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
1,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 million |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
1,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
We are
trying obtain latest financials and a will be sent soon.
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.337 |
7.621 |
4.218 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.337 |
8.621 |
5.218 |
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LOAN FUNDS |
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1] Secured Loans |
1.212 |
0.000 |
0.000 |
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2] Unsecured Loans |
9.176 |
8.639 |
2.885 |
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TOTAL BORROWING |
10.388 |
8.639 |
2.885 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
22.725 |
17.260 |
8.103 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.352 |
1.851 |
1.492 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.010 |
0.010 |
0.010 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
25.189 |
8.935 |
4.716 |
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Sundry Debtors |
20.387 |
41.502 |
21.309 |
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Cash & Bank Balances |
8.852 |
8.393 |
7.044 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
7.187 |
4.376 |
3.327 |
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Total Current Assets |
61.615
|
63.206 |
36.396 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
36.058 |
44.105 |
27.492 |
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Provisions |
6.194 |
3.702 |
2.305 |
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Total Current Liabilities |
42.252
|
47.807 |
29.797 |
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Net Current Assets |
19.363 |
15.399 |
6.599 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
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TOTAL |
22.725 |
17.260 |
8.103 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
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Sales Turnover [including other
income] |
330.024 |
417.424 |
116.101 |
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Profit/(Loss)
Before Tax |
5.381 |
5.716 |
3.247 |
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Provision
for Taxation |
1.977 |
2.001 |
1.181 |
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Profit/(Loss)
After Tax |
3.404 |
3.715 |
2.066 |
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Export
Value |
NA |
1.502 |
2.155 |
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Import
Value |
NA |
39.535 |
61.832 |
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Total
Expenditure |
324.644 |
411.707 |
112.851 |
KEY
RATIOS
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PARTICULARS |
|
31.03.2004 |
31.03.2003 |
31.03.2002 |
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PAT / Total Income |
(%) |
1.03
|
0.88 |
1.77 |
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Net
Profit Margin (PBT/Sales) |
(%) |
1.63
|
1.36 |
2.79 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
8.28
|
8.78 |
8.56 |
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Return on
Investment (ROI) (PBT/Networth) |
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0.43
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0.66 |
0.62 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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4.26
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6.54 |
6.26 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.45
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1.32 |
1.22 |
LOCAL AGENCY
FURTHER INFORMATION
BUSINESS
The
company was incorporated to carry on the business of exporters, importers,
merchants, traders, stockists, suppliers, indentors, adatias or any other
capacity in India or elsewhere & to buy sell, distribute or otherwise
dealers of every description, supplied by any company, firm, association of
persons, body whether incorporated or not, individuals, government, semi
government or any local authority.
Generic
Names of the Principal Products /Services of the company are :-
The
company is the perfect associate for the procurement needs. The company service
the needs of various industry specifics, specialising in products for the
beverages and dairy industries.
With the
support of its worldwide supplier base the company provide Indian manufacturers
with world class quality products at competitive prices. Its expertise and
infrastructure support ensure hassel-free import transactions and on-time
delivery of the products wherever and whenever the customers desire.
Its
services include making available a readymade network of infrastructure
facilities to economise on the heavy initial investment, help in tiding
over longer gestation periods and bypassing all possible bottlenecks.
The
company source superior quality products at competitive rates from reputed
foreign suppliers.
The
company has experienced staff, well versed with the customs requirements and
formalities.
The
company offers flexible payment plans that include :
·
Payment
on a hire purchase basis
·
Leasing
options
·
Customised
payment plan, based on mutually agreeable terms.
The
company also offers extended credit facilities with no banking limits required.
The
company provides best-of-breed products sourced from reputed international
suppliers.
Some
Strengths of the company are:
·
Handling
a transaction effectively right from sourcing to transporting and distribution.
·
Expertise
in terms of providing logistics solutions that suit client needs.
·
An
experienced and trained team that ensures on-time delivery of the product.
They
visited the office of the company where they observed the following: -
v
Name
Board could be seen and the visibility of the same is good.
v
The
company’s office is easy to locate.
v
Subject
is located in a commercial area.
v
Items
such as Telephone, Furniture, Fax Machines, Computers, Air Conditioner and
Xerox Machine could be seen at the company’s office.
The company’s
fixed assets of important value include furniture & fixtures, office
equipment, vehicles, computer, air conditioner and refrigerator.
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 records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM
as part of its Due Diligence do provide comments on Corporate Governance to
identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.17 |
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UK
Pound |
1 |
Rs.85.24 |
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Euro |
1 |
Rs.57.89 |
RATING EXPLANATIONS
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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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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