MIRA
INFORM REPORT
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Report Date : |
18.01.2007 |
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 : |
USD40000 |
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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 :
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No.
of Shares |
Type |
Value |
Amount |
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4430 |
Equity
Shares |
Rs 100/- each |
Rs 0.443 Millions |
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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0.443 |
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 |
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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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INVESTMENT |
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----- |
----- |
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DEFERREX TAX ASSETS |
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----- |
----- |
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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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KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt
Equity Ratio(Total Liability/Networth) |
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2.60 |
4.68 |
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Current
Ratio(Current Asset/Current Liability) |
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1.27 |
1.30 |
LOCAL AGENCY
FURTHER INFORMATION
Smoothline
Industries a family concern was founded in 1973 by our 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.
We at Smoothline have developed inks for all types of
writing instruments and also more,with a very dedicated and responsible team,
we 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
We are committed towards the betterment of the whole
of Writing Instruments industry. We offer unique inks of exceptional quailty,
which are tailor-made and reserved as per the requirements of our clients.
Products
We give world class products and each and every
product of Smoothline is rigorously tested before it is launched and evey time
therafter. Every raw material procured is first checked for all the parameters
and only then passed for process and thus we can give a consistent product any
time and every time.
Quality check
Before any material leaves our factory it passes
through a strictest of Quality check procedure and on completion of which, the
material is dispatched. Our 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.44.72 |
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UK
Pound |
1 |
Rs.86.87 |
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Euro |
1 |
Rs.57.27 |
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 |
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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 |
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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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