MIRA
INFORM REPORT
|
Report Date : |
25th
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
SHAKTI
COMMODITIES PRIVATE LIMITED |
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Registered Office : |
79 Shyam Lal Road, Room No. 21, 2nd Floor, Daryagunj, New Delhi-110002, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
22.03.2001 |
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Com. Reg. No.: |
55-110123 |
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CIN No.: [Company
Identification No.] |
U00000DL2001PTC110123 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS16833F |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Dealers
of Automobile Parts. To
carry on all or any of the business as buyers, consultants, assemblers,
designers, packers, stockists, negotiators, brokers, agents, sellers,
importers, exporters, commission agents and dealers of engineering goods,
metals, automobiles, leather, food items, seeds, oils, land building,
chemicals, pharmaceuticals, textiles and allied products, building materials,
transport systems, films, patents and other intellectual rights, instruments,
consumer goods, communication systems, paper and paper products, ferrous and
non ferrous metals, agricultural commodities, mine products and marine
products, electrical and electronic, scientific equipments, food stuffs,
jute, wood, bones, diamonds, coal, glue resins, ivory lac, manures, pulp,
rubber, tinning, substances, quartz, plastic, glass, handcraft, toys,
precious stones, ornaments, pearls, stationery, sports goods, carpets films,
surgical musical instruments, marble one hard-ware items, books, manuscripts,
yarn and hosiery. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
-- |
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Status : |
Small
Company |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject is comparatively a new company engaged in the business as
dealers in automobile parts. Directors are very resourceful businessmen. The
company’s business is growing extremely well. Trade relations are reported as
fair. Payments are reported as made 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 : |
79 Shyam Lal Road, Room No. 21, 2nd Floor, Daryagunj, New Delhi-110002, India |
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Tel. No.: |
91-11-23245112/23245114 |
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Fax No.: |
91-11-23245113 |
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E-Mail : |
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Head
Office : |
4007 Phool Bhavan, Ajmeri Gate, Delhi, India |
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Tel.
No.: |
91-11-23245112/23245113 |
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Fax
No.: |
91-11-23245114 |
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E-Mail
: |
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Administrative
Office : |
79 Shyam Lal Road, Room No. 21, 2nd Floor, Daryagunj, New Delhi-110002, India |
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Tel.
No.: |
91-11-23245112/23245113 |
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Fax
No.: |
91-11-23245114 |
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E-Mail
: |
DIRECTORS
|
Name : |
Mr.
Subhash Kedia |
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Designation : |
Director
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Address : |
1-B,
Prem Shanti Apartment, 2, Club Road, Civil Lines, Delhi – 110 054, India |
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Date of Birth/Age : |
16.08.1963 |
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Date of Appointment : |
21.11.2001 |
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Name : |
Mr.
Satish Kedia |
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Designation : |
Director
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Address : |
1-B,
Prem Shanti Apartment, 2, Club Road, Civil Lines, Delhi – 110 054, India |
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Date of Birth/Age : |
03.11.1967 |
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Date of Appointment : |
21.11.2001 |
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Name : |
Mr.
Vivek Mahnot |
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Designation : |
Additional Director |
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Date of Appointment : |
28.05.2002 |
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Name : |
Ms.
Madhu Mahnot |
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Designation : |
Director |
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Date of Appointment : |
23rd April, 2001 |
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KEY EXECUTIVES
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Name
: |
K J
and Associates |
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Designation
: |
Company
Secretary |
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Address
: |
112D
Pocket, A1, Mayur Vihar, Phase III, Delhi – 110 096, India |
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Mobile
No.: |
91-9811376029 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Subhash Kedia |
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11850 |
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Mr.
Satish Kedia |
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8000 |
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Ankur
Marketing Limited |
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4500 |
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Conard
Tele Film Limited |
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2500 |
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PKD
Trading and Investments Company Limited |
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5000 |
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Aspo
Light Vanijya Private Limited |
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5000 |
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Mrs.
Monika Kedia |
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15000 |
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Zharuka
Foscal Services Private Limited |
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10000 |
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Enfield
Tracon Private Limited |
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10000 |
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Mayukh
Construction Private Limited |
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10000 |
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Sunflag
Viniyog Private Limited |
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10000 |
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Kaybee
Kala Finvest Private Limited |
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10000 |
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Dharmraj
Fincon Private Limited |
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10000 |
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Pee
Dee Viniyog Private Limited |
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10000 |
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Servel
Technology Systems Private Limited |
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5000 |
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G C
technology Systems Private Limited |
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5000 |
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Arun
Finvest Private Limited |
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5000 |
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Ethnic
Creations Private Limited |
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5000 |
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First
Hi Fin Private Limited |
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8000 |
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Unique
Insulators and Thermo Packaging Private Limited |
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7000 |
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Maestro
Marketing and Advertisement Private Limited |
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15000 |
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FNS
Consultancy Private Limited |
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5000 |
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Monisha
Granite Limited |
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5000 |
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El Bee
Portfolio Private Limited |
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5000 |
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M V
Marketing Private Limited |
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5000 |
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RCRD
Finlease Private Limited |
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5000 |
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Akshay
Sales Private Limited |
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5000 |
BUSINESS DETAILS
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Line of Business : |
Dealers
of Automobile Parts. To
carry on all or any of the business as buyers, consultants, assemblers,
designers, packers, stockists, negotiators, brokers, agents, sellers,
importers, exporters, commission agents and dealers of engineering goods,
metals, automobiles, leather, food items, seeds, oils, land building,
chemicals, pharmaceuticals, textiles and allied products, building materials,
transport systems, films, patents and other intellectual rights, instruments,
consumer goods, communication systems, paper and paper products, ferrous and
non ferrous metals, agricultural commodities, mine products and marine
products, electrical and electronic, scientific equipments, food stuffs,
jute, wood, bones, diamonds, coal, glue resins, ivory lac, manures, pulp,
rubber, tinning, substances, quartz, plastic, glass, handcraft, toys,
precious stones, ornaments, pearls, stationery, sports goods, carpets films,
surgical musical instruments, marble one hard-ware items, books, manuscripts,
yarn and hosiery. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
Around
50 |
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Bankers and Financial Institutions : |
394, Ganga Niwas, Chandni Chowk, New Delhi
– 110 006, India
Vishwa Karma, 86C, Topsia Road, P S
Beniapukur, Kolkata – 700 046, West Bengal, India
AIFACA Building, 1 Rafi Marg, New Delhi – 110 001, India |
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Facilities : |
Secured Loan (Rs. in million)
Unsecured Loan (Rs. in million)
Mortgage
Charge created from : 1] Rs.
10.000 millions from State Bank of Indore dated 01.11.2004 2] Rs.
1.840 millions from SREI Infrastructure Finance Limited dated 23.10.2006 3] Rs.
2.933 millions from GE Capital Transportation Financial Services Limited
dated 29.09.2006 and Rs. 6.400 millions dated 16.11.2006. |
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Banking Relations : |
Satisfactory
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Auditors : |
Arun K
Agarwal and Associates Chartered
Accountants |
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Address : |
210,
South Extension Plaza – I, 389, Masjid Moth, South Extension Pt-II, New Delhi
– 110 049, India |
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Tel. No.: |
91-11-26251200/
26257400/ 26256810 |
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Mobile No.: |
91-11-26251200 |
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Fax No.: |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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400000 |
Equity
Shares |
Rs. 10/- |
Rs. 4.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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201850 |
Equity
Shares |
Rs. 10/- |
Rs. 2.018 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.018 |
1.418 |
0.518 |
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2] Share Application Money |
18.170 |
16.070 |
0.000 |
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3] Reserves & Surplus |
20.537 |
14.089 |
5.248 |
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NETWORTH |
40.725 |
31.577 |
5.766 |
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LOAN FUNDS |
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1] Secured Loans |
25.291 |
2.873 |
0.415 |
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2] Unsecured Loans |
3.012 |
2.838 |
6.369 |
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TOTAL BORROWING |
28.303 |
5.711 |
6.784 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.113 |
0.045 |
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TOTAL |
69.028 |
37.401 |
12.595 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
36.474 |
6.589 |
1.674 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.019 |
0.000 |
0.000 |
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Deferred Revenue Expenditure |
0.039 |
0.052 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
11.811
|
16.560 |
15.873 |
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Sundry Debtors |
36.634
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26.116 |
16.316 |
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Cash & Bank Balances |
4.475
|
4.949 |
0.707 |
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Loans & Advances |
6.159
|
1.177 |
1.366 |
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Total Current Assets |
59.079
|
48.802 |
34.262 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
26.030
|
17.555 |
23.147 |
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Provisions |
0.553
|
0.491 |
0.203 |
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Total Current Liabilities |
26.583
|
18.046 |
23.350 |
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Net Current Assets |
32.496
|
30.756 |
10.912 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.004 |
0.009 |
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TOTAL |
69.028 |
37.401 |
12.595 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
90.594 |
46.276 |
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Profit/(Loss)
Before Tax |
|
1.300 |
0.682 |
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Provision
for Taxation |
|
0.559 |
0.220 |
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Profit/(Loss)
After Tax |
|
0.741 |
0.462 |
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Total
Expenditure |
|
89.294 |
45.595 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
--
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0.81 |
1.00 |
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Net
Profit Margin (PBT/Sales) |
(%) |
--
|
1.43 |
1.47 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
--
|
2.34 |
1.89 |
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Return
on Investment (ROI) (PBT/Networth) |
|
--
|
0.04 |
0.12 |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
2.34
|
1.75 |
6.23 |
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Current
Ratio (Current
Asset/Current Liability) |
|
2.22
|
2.70 |
1.46 |
LOCAL AGENCY
FURTHER INFORMATION
The
Company’s Fixed Assets of important value includes:
- Air Conditioner
- Computer
- Electrical Inverter
- Electric Item
- Fax Machine
- Fans
- Furniture and Fixtures
- Scooter
- Telephone Instruments
- Television Set
- Motorcycle
- Heater
- Photocopier
- Machinery
- Trailers
- Office Equipments
- 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 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.44.24 |
|
UK
Pound |
1 |
Rs.86.95 |
|
Euro |
1 |
Rs.57.33 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
32 |
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 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|