MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
SMOOTH
LINE WRITING INSTRUMENTS PRIVATE LIMITED |
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Registered Office : |
A-761,
TTC Industrial Area, Khairne MIDC, Thane-Belapur Road, Mumbai – 400075,
Mumbai, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
02.05.1995 |
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Com. Reg. No.: |
11-87951 |
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CIN No.: [Company
Identification No.] |
U36991MH1995PTC087951 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS34834C |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer
of inks for all types of writing instruments. |
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
40000 |
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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. 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 : |
A-761,
TTC Industrial Area, Khairne MIDC, Thane-Belapur Road, Mumbai – 400075,
Mumbai, India |
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Tel. No.: |
91-22-25568080 |
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Fax No.: |
91-22-25568080 |
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E-Mail : |
DIRECTORS
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Name : |
Mr
Babulal Sakerchand Shah |
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Designation : |
Whole
Time Director |
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Address : |
Madhukunj,
4th Floor, Navroji Cross Lane, Ghatkopar (West), Mumbai – 400086,
Maharashtra, India |
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Date of Birth/Age : |
21.01.1922 |
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Date of Appointment : |
02.05.1995 |
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Name : |
Mr
Manish Babulal Shah |
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Designation : |
Chairman
and Managing Director |
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Address : |
Madhukunj,
4th Floor, Navroji Cross Lane, Ghatkopar (West), Mumbai – 400086,
Maharashtra, India |
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Date of Birth/Age : |
25.01.1951 |
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Date of Appointment : |
02.05.1995 |
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Name : |
Mr
Falgun Babulal Shah |
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Designation : |
Whole Time
Director |
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Address : |
Madhukunj,
4th Floor, Navroji Cross Lane, Ghatkopar (West), Mumbai – 400086,
Maharashtra, India |
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Date of Birth/Age : |
20.03.1960 |
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Date of Appointment : |
02.05.1995 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Mr
Babulal Sakerchand Shah |
10 |
0.22 |
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Mr
Manish Babulal Shah |
10 |
0.22 |
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Mr
Falgun Babulal Shah |
10 |
0.22 |
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Mr
Babulal Sakerchand Shah and Mrs
Savita Babulal Shah |
1040 |
23.47 |
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Mr Manish
Babulal Shah and Mrs
Sudha Manish Shah |
1330 |
30.02 |
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Mr
Falgun Babulal Shah and Mrs
Minal Falgun Shah |
2030 |
45.82 |
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Total |
4430 |
100.00 |
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Category
of Shareholders |
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Percentage of Holding |
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Directors
or Relatives of Director |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of inks for all types of writing instruments. |
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Products : |
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GENERAL
INFORMATION
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Auditors : |
Ratan
Moondra and Company Chartered
Accountants Maharashtra |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
150,000 |
Equity
Shares |
Rs 10/- each |
Rs 1.500 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
4430 |
Equity
Shares |
Rs 100/- each |
Rs 0.443 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.443 |
0.443 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
|
9.507 |
5.818 |
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4] (Accumulated Losses) |
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---- |
---- |
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NETWORTH |
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9.950 |
6.261 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.918 |
5.458 |
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TOTAL BORROWING |
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0.918 |
5.458 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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10.868 |
11.719 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.084 |
4.396 |
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Capital work-in-progress |
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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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4.783 |
9.613 |
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Sundry Debtors |
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22.643 |
16.952 |
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Cash & Bank Balances |
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2.454 |
2.192 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.866 |
2.443 |
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Total Current Assets |
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31.746 |
31.200 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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23.045 |
21.958 |
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Provisions |
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1.921 |
1.925 |
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Total Current Liabilities |
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24.966 |
23.883 |
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Net Current Assets |
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6.780 |
7.317 |
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MISCELLANEOUS EXPENSES |
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0.004 |
0.006 |
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TOTAL |
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10.868 |
11.719 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover [including other
income] |
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130.550 |
111.782 |
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Profit/(Loss)
Before Tax |
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NA |
NA |
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Provision
for Taxation |
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NA |
NA |
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Profit/(Loss)
After Tax |
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5.641 |
2.677 |
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Export
Value |
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8.174 |
6.749 |
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Total
Expenditure |
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124.909 |
109.105 |
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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4.32 |
2.39 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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2.60 |
4.69 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.27 |
1.31 |
LOCAL AGENCY
FURTHER INFORMATION
Smoothline
Industries a
family concern was founded in 1973 by their chief person
Mr. Babubhai S. Shah after having a rich experience of indenting and
marketing in the line of writing instruments since 1944. He started the line
with manufacturing of Fountain Pens and its nibs in a small facotry at Gavandi.
They at
Smoothline have developed inks for all types of writing instruments and also
more, with a very dedicated and responsible team, they have given Indian
markets import substitutes for almost all types of writing inks which are at
par with international standards at the same time they are all at very
reasonable prices.
Motto
They are
committed towards the betterment of the whole of Writing Instruments industry.
They offer unique inks of exceptional quality, which are tailor-made and
reserved as per the requirements of their clients.
Products
They give
world class products and each and every product of Smoothline is rigorously
tested before it is launched and every time therafter. Every raw material
procured is first checked for all the parameters and only then passed for
process and thus they can give a consistent product any time and every time.
Quality
check
Before any
material leaves their factory it passes through a strictest of Quality check
procedure and on completion of which, the material is dispatched. Their quality
control department has most of the computerized facilities for checking the
material, thereby reducing the chances of manual erros and also ensuring that
every time the product is consistent and better.
Contact Details
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Company Name : |
Smoothline Writing Instruments Private
Limited |
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Contact Person : |
Swetal Shah |
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Address: |
10, Satyam Industrial Annexe, Govandi
Station Road, Govandi, Mumbai, Maharashtra - 400 088 Mumbai, Maharashtra,
INDIA PIN-400 088 |
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Phone no. |
91-22 551 4511 |
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Fax : |
91-22 556 8088 |
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Website: |
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.44.18 |
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UK
Pound |
1 |
Rs.86.36 |
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Euro |
1 |
Rs.57.54 |
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 |
NO |
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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 |
|
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 |
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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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