MIRA
INFORM REPORT
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Report Date : |
05.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SAI SIMRAM INDUSTRIES |
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Registered Office : |
A / 1401, Hawa Mahal, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
December 2006 |
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Com. Reg. No.: |
11335 / 2006 – 2007 |
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IEC No.: |
0306065061 |
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PAN No.: [Permanent
Account No.] |
ADDPA4453H |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Exporter and Trader for Perfume Packaging Products |
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 : |
USD 7252 |
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Status : |
Small Concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track.
Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The concern can be considered for small business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
A / 1401, Hawa Mahal, |
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Tel. No.: |
91-22-25899229 |
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Mobile No.: |
91-9821627378 / 9321627378 |
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Fax No.: |
91-22-25899229 |
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E-Mail : |
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Website : |
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Area : |
2000sq.fts |
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Location : |
Owned |
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Factory : |
Yadav Copound, Davdi Naka, |
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Tel. No.: |
91-9821627378 |
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Area : |
2000sq.fts |
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Location : |
Owned |
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Branches : |
308 / 309, |
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Tel. No.: |
91-22-28486397 |
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Area : |
5000sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Sanjay Arora |
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Designation : |
Proprietor |
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Address : |
A / 1401, Hawa Mahal, |
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Date of Birth/Age : |
30.03.1975 (32 Years) |
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Qualification : |
B.E. ( |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Trader for Perfume Packaging Products |
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Products : |
Plastic and Aluminum Anodized Caps for Perfume Bottles |
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Exports : |
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Products : |
Glass Bottles, Aluminum Bottles, Aluminum Caps, Plastic Roll-ons,
plastic Articles, Also Jobs fone Glass Frosting and Printing |
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Countries : |
Sri lanka, UAE, |
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Terms : |
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Selling : |
L/C, Credit (30 days), Cash |
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Purchasing : |
Cash |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
Actual
Production |
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Aluminum Bottle |
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1000000Pcs P.A. |
50000Pcs |
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Aluminum Caps |
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3 CrocePcs P A. |
1200000 in Month |
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Card Boxes |
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5 Lacs Pcs P M |
100000 in Month |
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Glass Frosting and Printing |
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9 Lacs Pcs P M |
500000 in Month |
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GENERAL INFORMATION
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Customers : |
Wholesalers, OEM’s |
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No. of Employees : |
46 (6 Office, 40 Factory) |
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Bankers : |
HSBC Bank M.G.Road, Fountain Mumbai – 400021 A/C # 002-479590-001 |
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Facilities : |
Applied for USD 150,000 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ajay K Shah and Company Chartered Accountants |
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Address : |
Dombivali (East) |
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Tel. No.: |
91-9321683991 / 9821683991 |
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E-Mail : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
RS.1.813 millions |
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Borrowed : |
- |
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Total : |
Rs.1.813 millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.813 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.813 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.813 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.361 |
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Capital work-in-progress |
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0.151 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.545 |
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Sundry Debtors |
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0.350 |
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Cash & Bank Balances |
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0.226 |
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Other Current Assets |
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0.056 |
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Loans & Advances |
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0.044 |
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Total
Current Assets |
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1.221 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.856 |
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Provisions |
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0.064 |
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Total
Current Liabilities |
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0.920 |
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Net Current Assets |
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0.301 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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1.813 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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3.639 |
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Other Income |
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0.014 |
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Total Income |
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3.653 |
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Profit/(Loss) Before Tax |
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0.336 |
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Provision for Taxation |
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0.082 |
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Profit/(Loss) After Tax |
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0.253 |
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Earnings in Foreign Currency : |
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Export Earnings |
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US$ 89100 |
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Other Earnings |
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US$ 300 |
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Expenditures : |
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Cost of Goods Sold |
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2.247 |
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Manufacturing Expenses |
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0.500 |
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Administrative Expenses |
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0.505 |
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Interest |
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0.009 |
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Depreciation & Amortization |
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0.290 |
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Other Expenditure |
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0.049 |
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Total Expenditure |
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3.600 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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6.92 |
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Net Profit Margin (PBT/Sales) |
(%) |
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9.23 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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13.01 |
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Return on Investment (ROI) (PBT/Networth) |
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0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.50 |
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Current Ratio (Current Asset/Current Liability) |
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4.05 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
©
Kapoor Glass Private Limited
Andheri (East) MIDC
Mr. Sanjeev Kapoor – Managing /director
Mobile No.: 91-9821095646 / 9323979887
©
Hindustan National Glass Limited
Kewal Industrial Estate
Mr. Hoare Devdutta – president
Mobile No.: 91-9967536642
©
Bharat Trading Company
208, Diamond Industrial Estate
Ms. Preet Kaur Singh
Mobile no.: 91-982761072
©
Color Tune Private Limited
Harichand Mills Compound LBS Marg, Vikhroli (West)
Mr. Rohit Dua
Mobile No.: 91-9820157839
Company Profile:
They
are pleased to introduce ourselves as one of the prominent manufacturers,
exporters and suppliers of various types of Plastic and Aluminum Anodized Caps. With over four decades of
experience in this field, they have gradually come to be recognised as one of
the major market players in their sphere of operations thanks to their undying
commitment to quality, continuous R & D initiatives, in house technology
and excellent trade practices.
Quality Products
Headquartered
at Thane (Mumbai), they have their own state of art aluminum anodized caps plant spread over an area of 2000 sq.mts
along with a blending unit of extrusion, buffing and anodizing. Well supported
by a team of highly experienced and diligent staff they largely specialize in
manufacturing Plastic and Aluminum
Anodized Caps for the perfume and fragrance industry. Today, their
strong emphasis on quality as well as their wide and multifarious range of
products has resulted in the company commanding a sizable market presence at
both the local and global arena.
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.40.46 |
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1 |
Rs.81.55 |
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Euro |
1 |
Rs.55.09 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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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 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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29 |
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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