MIRA
INFORM REPORT
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Report Date : |
12.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SANJAY MAINTENANCE SERVICES PRIVATE LIMITED |
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Registered Office : |
402/A, 4th Floor, M. B. House, 79, Janmabhoomi
Marg, Fort, Mumbai - 400 001, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
31.03.2000 |
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Com. Reg. No.: |
11-125538 |
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CIN No.: [Company
Identification No.] |
U74999MH2000PTC125538 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS27136E |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Subject is engaged in the business of Providing housekeeping services. |
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 31000 |
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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 records. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. 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 : |
402/A, 4th Floor, M. B. House, 79, Janmabhoomi
Marg, Fort, Mumbai - 400 001, |
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Tel. No.: |
91-22- 2202 0044 |
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Fax No.: |
91-22- 2204 8111 |
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E-Mail : |
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Website : |
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Operational Office : |
Krishna Chhaya Trust Bldg., 98, Aai Mai
Merwanji St., Parel,
Mumbai – 400 012, Maharashtra, India |
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Tel. No.: |
91-22- 39567093 / 39567160 |
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Branches : |
Located at : • Mumbai • • • • Kolkata • Bhubneshwar • • Ahmedabad • • • • Chennai |
DIRECTORS
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Name : |
Mr. Sanjay T. Khanvilkar |
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Designation : |
Chairman cum Managing Director |
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Address : |
21, Larapose, 2nd Floor, |
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Date of Birth/Age : |
20.03.1967 |
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Date of Appointment : |
31.03.2000 |
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Name : |
Ms. Shalini T. Khanvilkar |
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Designation : |
Director |
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Address : |
21, Larapose, 2nd Floor, |
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Date of Birth/Age : |
01.01.1938 |
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Date of Appointment : |
27.01.2003 |
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Name : |
Ms. Sandya T. Khanvilkar |
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Designation : |
Director |
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Address : |
21, Larapose, 2nd Floor, |
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Date of Birth/Age : |
20.03.1967 |
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Date of Appointment : |
31.03.2000 |
KEY EXECUTIVES
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Name : |
Late Mr. Tukaram Kanvilkar |
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Designation : |
Founder |
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Name : |
Mr. Prakash Y. Bhandari |
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Designation : |
General Manager |
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Name : |
Ms. Vinita V. Bhosale |
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Designation : |
Manager Administration |
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Name : |
Ms. Shobhana N. Bagwe |
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Designation : |
Manager Finance |
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Name : |
Mr. Manoj M. Kambli |
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Designation : |
Manager Employee Relation |
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Name : |
Mr. Karan M. Vichare |
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Designation : |
Manager Operations |
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Name : |
Mr. Prashant N. Ghodke |
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Designation : |
Manager Quality & Systems |
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Name : |
Mr. Vasant S. Roge |
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Designation : |
Manager Legal & Statutory |
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Name : |
Mr. Chandrakant K. Repal |
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Designation : |
Manager Stores |
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Name : |
Mr. Vinayak B. Bhise |
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Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Sanjay T. Khanvilkar |
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5100 |
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Ms. Shalini T. Khanvilkar |
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5100 |
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Ms. Sandya T. Khanvilkar |
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5100 |
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Total |
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15300 |
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 % |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of Providing housekeeping services. |
GENERAL INFORMATION
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Customers : |
Banks :
Company :
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No. of Employees : |
2500 |
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Bankers : |
The Karad Urban Co-operative
Bank Limited 79/81, Janambhumi
Marg, ‘M.B. House’, Fort, Mumbai – 400001, |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sanjay Shah Chartered Accountants |
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Address : |
309, Tajgir Sadan, 3rd Floor, Laxmi Baug, Opposite Sion
Railway Station, Sion, Mumbai – 400022, |
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Associates : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Share |
Rs. 10/- each |
Rs. 0.200 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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15300 |
Equity Share |
Rs. 10/- each |
Rs. 0.153
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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0.153 |
0.153 |
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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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7.674 |
4.901 |
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NETWORTH |
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7.827 |
5.054 |
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LOAN FUNDS |
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1] Secured Loans |
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13.470 |
2.316 |
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2] Unsecured Loans |
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2.927 |
1.315 |
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TOTAL BORROWING |
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16.397 |
3.631 |
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DEFERRED TAX LIABILITIES |
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0.411 |
0.250 |
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TOTAL |
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24.635 |
8.935 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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14.711 |
7.725 |
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INVESTMENT |
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5.671 |
0.050 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Sundry Debtors |
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31.975 |
12.412 |
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Cash & Bank Balances |
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2.599 |
4.254 |
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Other Current Assets |
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2.838 |
0.652 |
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Loans & Advances |
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8.413 |
5.415 |
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Total
Current Assets |
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45.825 |
22.733 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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8.814 |
8.338 |
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Provisions |
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32.764 |
13.243 |
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Total
Current Liabilities |
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41.578 |
21.581 |
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Net Current Assets |
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4.247 |
1.152 |
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MISCELLANEOUS EXPENSES |
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0.006 |
0.008 |
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TOTAL |
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24.635 |
8.935 |
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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 |
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198.095 |
130.078 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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198.095 |
130.078 |
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Profit/(Loss) Before Tax |
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-- |
-- |
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Provision for Taxation |
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-- |
-- |
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Profit/(Loss) After Tax |
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5.049 |
3.335 |
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Expenditures : |
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Interest |
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0.669 |
0.274 |
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Depreciation & Amortization |
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1.492 |
0.767 |
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Other Expenditure |
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190.885 |
125.701 |
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Total Expenditure |
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193.046 |
126.742 |
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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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PAT / Total Income |
(%) |
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2.55 |
2.56 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.55 |
2.56 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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7.63 |
10.93 |
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Return on Investment (ROI) (PBT/Networth) |
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0.65 |
0.66 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.41 |
4.99 |
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Current Ratio (Current Asset/Current Liability) |
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1.10 |
1.05 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from 301, Green
House, 3rd Floor, Green Street, Opposite Old Custom House, Fort,
Mumbai – 400023, Maharashtra, India to the present address w.e.f. 01.04.2007.
Bankers Charges
Report as per Registry
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Name of the company |
SANJAY
MAINTENANCE SERVICES PRIVATE LIMITED |
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Presented By |
Mr. Sanjay T. Khanvilkar |
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1) Date and description of instrument creating the change |
Memorandum of
agreement of hypothecation of tangible security dated 28.10.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Property situated
at Fort on 4th Floor of Building known as ‘M.B. House’ at
Janambhumi Marg, Unit / Appt No. 402, 402 A, Area 432 sq. ft. carpet mezonine
floor. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
@ 13 % p.a. in case of default penal interest @ 2 % margin 25 % |
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5) Name and Address and description of the person entitled to the charge. |
The Karad Urban
Co-operative Bank Limited 79/81, Janambhumi
Marg, ‘M.B. House’, Fort, Mumbai – 400001, |
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6) Date and brief description of instrument modifying the charge |
----NA---- |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
----NA---- |
AS PER WEBSITE
Profile
In recent years they have grown
into a much-appreciated professional set-up offering all the services, which fall
under the preview of maintenance of an entire building.
There are round about 500+ different locations where they have spread out their
services as per the needs of all the industries.
While executing many projects for various clients at different locations, they
realised that none of them had any single agency that offered all the
maintenance services required for premises under one roof. Clients were hunting
for various contractors from various fields to full-fill their requirements.
Established contractors were not ready to undertake small plumbing / electrical
snags or attend to any other minor repairs. This trauma of their valuable
Clients promoted them to take the initiative in the direction of providing
comprehensive solutions to various maintenance problems faced by them. So they
decided to associate their selves to various agencies offering such services,
which is useful in maintenance & up-keep of a building premise.
They have a qualitative management staff & time to devote to their customer’s
project, coupled with expertise & experience handling a project of any
size, thereby leaving them free to attend to their core functions.
Services
Provides
Satisfactory services:
They are providing reliable
& quality maintenance services for any type of organisation generate the
most suitable business strategy to achieve the desired objective. .They have a
qualitative management staff & time to devote to their customer’s project,
coupled with expertise & experience handling a project of any size, thereby
leaving them free to attend to their core functions.
Services undertaken by the
company :
General
Housekeeping services
Sweeping
& Mopping of floors daily.
Maintenance
of Furniture & Fixtures.
Regular
cleaning of window glasses, doors, tabletops etc.
Provision
of office Peons
Arranging
for well disciplined efficient & reliable office peons who can be deployed
for doing petty office chores like Xeroxing, serving refreshments to the office
guests, office to office delivery, etc.
Flower
Arrangement
As per
the customer’s specifications they arrange for fresh flowers & adorn the
areas indicated by the customer on a daily basis.
Catering
Services
Arrange
for & purchase of all foodstuff.
Deployment
of all personnel’s necessary to prepare & serve meals including expert
cooks, clerical & supervisory management personnel’s.
Supply
of kitchen & food services equipment.
Security
Services
Continuous
vigilance on the premises.
Maintaining
the records of visitors moving in & out of the premises.
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.91 |
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1 |
Rs.80.46 |
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Euro |
1 |
Rs.54.60 |
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 |
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 |
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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