MIRA
INFORM REPORT
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Report Date : |
29.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHARDA
WORLDWIDE EXPORTS PRIVATE LIMITED |
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Formerly Known As : |
BUBNA
ENTERPRISES |
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Registered Office : |
1st
Floor, Dominic Holm, 29th Road, Bandra (West), Mumbai 400 050, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1987 |
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Com. Reg. No.: |
11-145007 |
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CIN No.: [Company
Identification No.] |
U51909MH2004PTC145007 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS36859E |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Dealer and Importer of Dyes,
Intermediates, Agro Products, and Transmission Belts. |
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
550000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject is a well established Government Recognised Export House. Trade relations are reported as fair. Payments are 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/ Head/ Corporate Office : |
1st Floor,
Dominic Holm, 29th Road, Bandra (West), Mumbai 400 050,
Maharashtra, India |
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Tel. No.: |
91-22-66782800 |
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Mobile No.: |
91-9820659755 |
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Fax No.: |
91-22-66782828/08 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr.
Ram Prakash Bubna |
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Designation : |
Director |
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Name : |
Mrs.Sharda
Ramprakash Bubna |
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Designation : |
Director
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Name : |
Mr.
Ashish R. Bubna |
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Designation : |
Director
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Name : |
Mr.
Manish R. Bubna |
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Designation : |
Director
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BUSINESS DETAILS
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Line of Business : |
Dealer and Importer of Dyes,
Intermediates, Agro Products, and Transmission Belts. |
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Products : |
DYES
PIGMENT DYES · Pigment Green 7 · Pigment Blue 15:1 15:2 15:3 DYE
INTERMEDIATES · Alpha Naphthylamine · Alizarine Red B (1, 2 Dihydroxy Anthraquinone) · 1 Amino 5 Naphthol · 1 Amino G Acid (2 Naphthylamine 6, 8 Disulphonic Acid) · Aniline 2:5 Disulphonic Acid · Anthranilic Acid · Beta Naphthol · Benzidene Dihydrochloride · Benzidene 2-2 Disulphonic Acid · Bon Acid · 6 Bromo 2,4 Dinitro Aniline · 6 Bromo 2 Chloro 4 Nitro Anline · C. Acid (2 Naphthylamine 4,8, Disulphonic Acid) · C.Acid (Red Lake CAmine) 3 Amino 6 Chloro Toluene 4 Sulphonic Acid · Chicago S.S.Acid · Chloranil · 2 Chloro Aniline 5 Sulphonic Acid · 4 Chloro 2 Amino Phenol (Purified) · 4 Chloro 2 Amino Phenol (Regular) · 4 Chloro 2 Amino Phenol 6 Sulphonic Acid · 1,6 Chloro 2,4 Dinitro Aniline · 1(2 Chloro Phenyl)3 Methyl 5 Pyrazolone · Cyanuric Chloride · DABA Acid (4,4 Diamino Benzanilide) · 1 Diazo 2 Naphthol 4 Sulphonic Acid · 4,4 Diamino Stilbene 2,2 Disulphonic Acid · 4,4 Diamino Benz Sulfanilide · 1,5 Dihydroxy Naphthalene · 2,5 Dichloro Aniline · 2,5 Dichloro Aniline 4 Sulphonic Acid · 2,5 Dichloro Nitro Benzene · 2,5 Dichloro Para Nitro Aniline · 2,6 Dichloro Para Nitro Aniline · 1 (2,5 Dichloro 4 Sulphophenyl)3 Carboxy 5 Pyrazolone · 1 (2,5 Dichloro 4 Sulphophenyl)3 Methyl 5 Pyrazolone · 3,3 Dichloro Benzene Dihydrochloride · Dimethyl Sulphate · 2,4 Dinitro Chloro Benzene · 2,4 Dinitro Aniline · 4,4 Dinitro Stilbene 2,2 Disulphonic Acid · F.C.Acid(4,4 Diamino Diphenylamine 2 Sulphonic Acid) · G.Salt · Gamma Acid · H.Acid · Hydrazobenzene · J.Acid Urea · K.Acid (2 Naphthylamine 3,6,8 Trisulphonic Acid) · Koch Acid (1 Amino 3,6,8 Trisulphonic Acid) · L Acid - Oxy Laurent's Acid · Laurents Acid · Meta Amino Acetanilide(Base) · Metanilic Acid · Meta Nitro Aniline · Meta Amino Acetanilide(Base) · Meta Nitro Aniline · 1 Meta Chloro 3 Methyl 3 Pyrazolone · 1,4(Betahydroxy Ethyl Sulphonyl Phenyl)3 Methyl 5 Pyrazolone · Meta Phenylene Diamine · Meta Phenylene Diamine 4 Sulphonic Acid (Sodium Salt) · Meta Phenylene Diamine 4 Sulphonic Acid (Free Acid) · Meta Urido Aniline Hydrochloride · Mixed Cleaves Acid · 4 Nitro 2 Amino Phenol · 4 Nitro 2 Amino Phenol 6 Sulphonic Acid Sodium Salt) · 4 Nitro 2 Amino Phenol 6 Sulphonic Acid (Free Acid) · 4 Nitro 4 Amino Diphenylamine 2-Sulphonic Acid · 4 Nitro Aniline 2 Sulphonic Acid · 4 Nitro Chloro Benzene 2 Sulphonic Acid · 4 Nitro Meta Phenylene Diamine · 5 Nitro Anthranilic Acid · 5 Nitro Anthranilic Acid · 6 Nitro 1 Diazo 2 Naphthol 4 Sulphonic Acid · Neville Winther's Acid · N. Etyl J. Acid · Ortho Amino Phenol 4 Sulphonic Acid · Ortho Chloro Para Nitro Aniline · Ortho Chloro Aniline · Ortho Chloro Metanilic Acid · Ortho Dianisidine Base (Fast Blue B Base) · Ortho Nitro Aniline · Ortho Nitro Chloro Benzene · Ortho Nitro Chloro Benzene Para Sulphonic Acid · Ortho Toluidene Dihydrochloride · Ortho Phenylene Diamine · Para Amino Acetanilide · Para Amino Acetanilide 3 Sulphonic Acid · Para Amino Azo Benzene · Para Amino Azo Benzene 4 Sulphonic Acid · Para Amino Azo Benzene 3,4 Disulphonic Acid · Para Anisidine · Para Chloro Aniline · Para Chloro Ortho Nitro Aniline · Para Cresol · Para Nitro Aniline · Para Nitro Aniline Ortho Sulphonic Acid · Para Nitro Chloro Benzene · Para Nitro Chloro Benzene Ortho Sulphonic Acid · Para Nitro Toluene Ortho Sulphonic Acid · Para Nitro Ortho Anisidine(Fast Red B Base) · Para Phenylene Diamine · Para Toluene Sulphonamide · Peri Acid · Phenyl Peri Acid · Phenyl J. Acid · 1 Phenyl 3 Methyl 5 Pyrazolone · Quinizarine · Resist Salt (Moist Powder, Pearls, Cylindrical) · Resist Salt (Dry Powder) · Schaeffers Acid · Sodium Naphthionate · Sulphanilic Acid (4 Amino Benzene Sulphonic Acid) Technical · Sulphanilic Acid (4 Amino Benzene Sulphonic Acid) Purified · Sulphanilic Acid - Sodium Salt · Sulpho Tobias Acid (2 Naphthylamine 1,5 Disulphonic Acid) · 4 Sulpho Anthranilic Acid · 5 Sulpho Anthranilic Acid (2 Amino 5 Sulpho Benzoic Acid) · 1(4 Sulphophenyl) 3 Carboxy 5 Pyrazolone · 1(4 Sulphophenyl) 3 Methyl 5 Pyrazolone · 1 (3 Sulphophenyl) 3 Methyl 5 Pyrazolone · Tobias Acid · Trichloro Benzene AGRO CHEMICALS Insecticides
Fungicides
Herbicides
Veterinary Drugs
Plant Growth Regulator
Rodenticides · Zinc Phosphide New Products
TRANSMISSION BELTS
OTHER PRODUCTS
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Exports to : |
South America, Europe, Far East and
Middle East [Dyes, Intermediates, Agro Products and Transmission Belts] |
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Imports from : |
China [Chemicals] |
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Terms : |
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Selling : |
L/C or D/A |
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Purchasing : |
L/C or D/A |
GENERAL
INFORMATION
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No. of Employees : |
50 |
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Bankers : |
Union Bank of India Nariman Point Branch, Mumbai- 400 021, Maharashtra |
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Banking Relations : |
Good |
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Auditors : |
V. K. Beswal and Associates Chartered Accountants |
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Associates : |
Sharda
International FZE, Dubai, United Arab Emirates Sharda
International |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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2000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 20.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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138000 |
Equity
Shares |
Rs. 10/- each |
Rs. 13.800 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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13.800 |
13.800 |
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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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124.955 |
95.825 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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138.755 |
109.625 |
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LOAN FUNDS |
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1] Secured Loans |
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154.414 |
329.533 |
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2] Unsecured Loans |
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305.014 |
331.152 |
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TOTAL BORROWING |
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459.428 |
660.685 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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598.183 |
770.310 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8.861 |
7.789 |
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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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12.362 |
72.403 |
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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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27.361 |
72.372 |
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Sundry Debtors |
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544.380 |
693.562 |
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Cash & Bank Balances |
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320.297 |
407.374 |
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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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76.684 |
75.433 |
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Total Current Assets |
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968.722 |
1248.741 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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346.954 |
525.268 |
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Provisions |
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44.980 |
33.584 |
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Total Current Liabilities |
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391.934 |
558.852 |
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Net Current Assets |
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576.788 |
689.889 |
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MISCELLANEOUS EXPENSES |
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0.172 |
0.229 |
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TOTAL |
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598.183 |
770.310 |
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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 [including other income] |
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1172.192 |
1656.117 |
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Profit/(Loss)
Before Tax |
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40.526 |
91.409 |
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Provision
for Taxation |
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11.396 |
33.584 |
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Profit/(Loss)
After Tax |
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29.130 |
57.825 |
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Total
Expenditure |
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1131.665 |
1564.708 |
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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2.48 |
3.49 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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3.45 |
5.51 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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4.14 |
7.27 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.29 |
0.83 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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6.13 |
11.12 |
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Current
Ratio (Current
Asset/Current Liability) |
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2.47 |
2.23 |
LOCAL AGENCY
FURTHER INFORMATION
Subject
was originally incorporated in the year 1987 as a Sole Proprietory Concern
under the name and style ‘Bubna Enterprises’.
It was takenover by ‘Sharda Worldwide Exports Private Limited as on 12th
March, 2004 having Company Registration Number 145007.
It is in trade terms with :-
Ø Clariant India Limited
Ø BASF India Limited
Ø Bayer India Limited
Ø Radis India Limited, Mumbai
Ø United Phosphorus Limited, Mumbai
Ø Gharda Chemicals Limited, Mumbai
The company has been accredited with ISO 9002 Certification.
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 |
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US
Dollar |
1 |
Rs.44.24 |
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UK
Pound |
1 |
Rs.86.95 |
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Euro |
1 |
Rs.57.33 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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63 |
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 |
|
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 |
|
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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