MIRA
INFORM REPORT
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Report Date : |
06.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SUPRABHAT ELECTRIC COMPANY PRIVATE LIMITED |
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Registered Office : |
1743, Kucha Lattoo Shah, Daria Kalan, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.06.1994 |
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Com. Reg. No.: |
55-59741 |
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CIN No.: [Company
Identification No.] |
U74899DL1994PTC059741 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Traders of Electrical Goods, Electrical Accessories and Electrical
Fittings. |
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 5000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
1743, Kucha Lattoo Shah, Daria Kalan, |
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Tel. No.: |
91-11-23284141 / 2386 1202 / 91 11 2326 8462 |
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Fax No.: |
91-11-23274552 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Kamal Kishore Aggarwal |
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Designation : |
Chairman |
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Address : |
5 A, Under |
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Date of Birth/Age : |
10.05.1949 |
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Date of Appointment : |
01.07.1994 |
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Name : |
Mr. Satish Kumar Aggarwal |
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Designation : |
Managing Director |
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Address : |
5 A, Under |
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Date of Birth/Age : |
25.12.1951 |
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Date of Appointment : |
01.07.1994 |
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Name : |
Mr. Pradeep Kumar Aggarwal |
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Designation : |
Whole Time Director |
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Address : |
5 A, Under |
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Date of Birth/Age : |
25.05.1957 |
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Date of Appointment : |
20.07.1994 |
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Name : |
Mr. Mukesh Kumar Gupta |
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Designation : |
Whole Time Director |
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Address : |
Flat No 112, Vardhan Apartments, Pp Ganj, IP Extension, |
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Date of Birth/Age : |
03.01.1957 |
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Date of Appointment : |
21.04.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Traders of Electrical Goods, Electrical Accessories and Electrical
Fittings. |
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Products : |
·
Miniacher Circuit
Breaker ·
Weather Protected
Accessories ·
Switchgears ·
Distribution Board ·
Switch Disconnector
Fuse |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P Venktachalam Chartered Accountants |
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Address : |
310, Aman Chamber, |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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70,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.700
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.700 |
0.700 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.655 |
0.383 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.355 |
1.083 |
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LOAN FUNDS |
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1] Secured Loans |
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0.264 |
3.085 |
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2] Unsecured Loans |
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7.318 |
6.726 |
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TOTAL BORROWING |
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7.582 |
9.811 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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8.937 |
10.894 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.800 |
0.755 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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10.963 |
6.733 |
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Sundry Debtors |
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47.414 |
30.062 |
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Cash & Bank Balances |
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0.375 |
0.122 |
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Other Current Assets |
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0.661 |
0.056 |
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Loans & Advances |
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0.560 |
0.278 |
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Total
Current Assets |
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59.973 |
37.251 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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50.821 |
26.390 |
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Provisions |
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1.015 |
0.722 |
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Total
Current Liabilities |
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51.836 |
27.112 |
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Net Current Assets |
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8.137 |
10.139 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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8.937 |
10.894 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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160.588 |
104.326 |
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Other Income |
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0.116 |
0.000 |
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Total Income |
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160.704 |
104.326 |
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Profit/(Loss) Before Tax |
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0.939 |
0.266 |
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Provision for Taxation |
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0.354 |
0.099 |
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Profit/(Loss) After Tax |
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0.585 |
0.167 |
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Expenditures : |
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Interest |
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2.312 |
1.637 |
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Depreciation & Amortization |
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0.143 |
0.202 |
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Other Expenditure |
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161.540 |
102.822 |
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Total Expenditure |
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163.995 |
104.661 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.36 |
0.16 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.58 |
0.25 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.55 |
0.70 |
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Return on Investment (ROI) (PBT/Networth) |
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0.69 |
0.25 |
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Debt Equity Ratio (Total Liability/Networth) |
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43.85 |
34.09 |
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Current Ratio (Current Asset/Current Liability) |
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1.16 |
1.37 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
SUPRABHAT
ELECTRIC COMPANY PRIVATE LIMITED |
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Presented By |
ING VYSYA BANK
LIMITED AND SUPRABHAT ELECTRIC COMPANY PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Agreement dated
13.02.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
stock of electrical items at 1743, Kucha Lattoo Shah, Daria Kalan, New Delhi –
110006, India or 1744 Daria Kalan, New Delhi – 110006, India or at Sarai
Topkhama, Delhi or at any other places in India from time to time Hypothecation of borrowers book debts form time to time. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
First charge on
above assets is to secure the OCC
limit of Rs. 5.000 millions sanctioned to the company Margin 25 % for
stocks and 40 % for book debts Interest is
chargeable at 1.5 % pa or at such other rates as maybe applicable from time
to time |
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5) Name and Address and description of the person entitled to the charge. |
ING Vysya Bank Limited, No. 1893, Chandini Chowk, Opposite
Daribakalan, |
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6) Date and brief description of instrument modifying the charge |
Supplemental
hypothecation agreement dated 09.08.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The OCC limit
secured by this charge is increased from Rs. 5.000 Millions to Rs. 6.000
Millions interest is chargeable at IVRR 1.5 % Min 10.5 % pa or at such other
rates as may be fixed by he bank from time to time. The charge is secured by
Hypothecation of stock of electrical items at 1743, Kucha Lattoo Shah, Daria Kalan, New
Delhi – 110006, India or 1744 Daria Kalan, New Delhi – 110006, India or at
Sarai Topkhama, Delhi or at any other places in India from time to time Hypothecation of borrowers book debts form time to time. Other terms and conditions remain same. |
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
90038741 |
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Corporate
identity number of the company |
U74899DL1994PTC059741 |
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Name of the
company |
SUPRABHAT ELECTRIC COMPANY PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
1743, Kucha Lattoo Shah, Daria Kalan, |
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Type of charge |
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Particular of charge
holder |
ING Vysya Bank Limited, No. 1893, Chandini Chowk, Opposite
Daribakalan, |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
25.04.2007 |
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Amount secured by
the charge |
Rs. 8.200
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC : IVRR 1.5 % BG [Commission]
As per banks guidelines Terms of
repayment On Demand Margin Cc 40 % on Block
debts and 25 % on stock BG 10 % in from of
fixed deposit for performance guarantee and 25 % in form of
fixed deposit for financial guarantee. Extent operation
of the charge First charge on
book and stocks of the company from time to time |
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Short particulars
of the property charged |
All stocks of the
company stored or to be stored at the premises of the company or any where
else and book debts from time to time. |
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Date of latest
modification prior to the present modification |
17.08.2006 |
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Particulars of
the present modification |
Th Total is
enhanced from Rs. 6.200 Millions and Rs. 8.200 Millions Rs in Millions
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AS PER WEBSITE
PROFILE
Suprabhat Group is a well known traditional business group in electrical
trade and industry. The group started their function as family unit in 1943
completing their Golden Jubilee in the year 1993.
Headed
by the Sh. Shankar Lal Aggarwal Who was the founder of the firm, followed by
next generation who were expert in their own lines and other professionals
required to run modern business.
Suprabhat Group is known for its commitment to sales and after sales
service to its large number of customers who are more than satisfied with the
supply of quality and genuine electrical goods of well established principals
and suppliers in electrical trade. As per their theme the customers are assured
of RELIABILITY WITHOUT DOUBT.
Suprabhat Group is representing well established business house in
electrical trade and industry who manufacture genuine and dependable products
both for industrial and domestic purpose as follows.
Crompton Greaves Limited
Lamps
- Tubes - Luminaries - Switchgears - Flameproof Fittings - Industrial Plugs and
Sockets - Relays - Contracts - M.C.Bs - M.C.C.Bs - Motors - Motor Starters -
Ceiling and Exhaust Fans - HT Switchgears and Transformers etc.
Indo Asian Marketing Limited
M.C.Bs
and its Distribution boxes - E.L.B.s - HRS Fuses - Times - Switchgears
Schneider Electric India Limited
M.C.C.Bs
- Contactors - Relays - DOL and Star delta Starters - Plug and Sockets
The
Group has turnover of Rs.170 Millions and with the continued encourgement from
their satisfied customers the group is well poised to reach a level of around
Rs.200 Millions in the near future and while developing the sales and trading
activities, the group will specially thrust in the are of contract jobs in
electrical industry and export activities where the opportunities are great in
view of the recent opening of our Indian economy.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.40 |
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1 |
Rs.82.32 |
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Euro |
1 |
Rs.55.77 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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