MIRA
INFORM REPORT
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Report Date : |
15.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SUPERFINE COMPONENTS PRIVATE LIMITED |
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Registered Office : |
MS – 90, Hari Nagar, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
02.07.1996 |
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Com. Reg. No.: |
55-80045 |
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CIN No.: [Company
Identification No.] |
U28920DL1996PTC080045 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS18994D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Auto Parts and Wire Harnesses. |
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 56552 |
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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 experiences and respectable businessmen. Trade relations
are 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 : |
MS – 90, Hari Nagar, |
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Tel. No.: |
91-124-2291229, 2291230, 11-25120000 |
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Fax No.: |
91-124-2291056 |
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E-Mail : |
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Website : |
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Corporate Office : |
118, Sector – v, IMT Manesar, Gurgaon – 122 001, |
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Tel. No.: |
91-124-2291229, 2291230, 11-25120000 |
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Fax No.: |
91-124-2291056 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Tilak Raj Khattar |
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Designation : |
Executive Director |
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Address : |
17/27-B, Tlilak Nagar, |
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Date of Birth/Age : |
13.07.1953 |
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Date of Appointment : |
02.07.1996 |
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Name : |
Mr. Rajat Khattar |
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Designation : |
Director |
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Address : |
17/27-B, Tlilak Nagar, |
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Date of Birth/Age : |
22.08.1984 |
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Date of Appointment : |
01.10.2003 |
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Name : |
Mrs. Rukmanii Devi Khattar |
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Designation : |
Director |
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Address : |
17/27-B, Tlilak Nagar, |
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Date of Birth/Age : |
20.07.1936 |
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Date of Appointment : |
02.07.1997 |
KEY EXECUTIVES
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Name : |
M/s. Jain and Associates |
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Designation : |
Company Secretary |
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Mobile No.: |
91-9810480099 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names Of Shareholders |
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No. of Shares |
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Mr. Tilak Raj Khattar |
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2,23,200 |
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Mrs. Rukmanii Devi Khattar |
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1,08,080 |
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Mr. Bajrang Dev Dwivedi |
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110 |
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Neelam Khattar |
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37,000 |
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Mr. Rajat Khattar |
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11,200 |
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M/S Super Components Private Limited |
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30,000 |
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Total |
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4,09,590 |
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Category |
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Percentage of
Holding |
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Bodies corporate (not mentioned above) |
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20.89 |
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Directors or relatives of directors |
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79.11 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Auto Parts and Wire Harnesses. |
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Products : |
Bright Bar Turned Components, CNC Machined Components, Précis
Components, Plastic Moulded Components, Fasteners, Cold Forging, Wiring
Harnesses. |
GENERAL INFORMATION
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Customers : |
Bharat Electronics Ltd. (Gaziabad, Panchkula, Kotdwar), Lumax
Industries Ltd. (Gurgaon, Daruhera, Pune), Minda Industries Ltd. (Kudli,
Manesar, Pune), The West India Power Equipments Pvt. Ltd., Luman Auto Pvt.
Ltd., Prasha Technologies Pvt. Ltd., M& M Machine Craft Pvt. Ltd., And
many others. |
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Bankers : |
Punjab
National Bank, Naraina Vihar, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M. K. Choudhary Chartered Accountant |
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Address : |
401, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5,00,000 |
Equity |
Rs. 10 Each |
5.000 Millions |
Issued Capital :
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No. of Shares |
Type |
Value |
Amount |
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5,00,000 |
Equity |
Rs. 10 Each |
Rs. 5.000 Millions |
Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,88,290 |
Equity |
Rs. 10 Each |
Rs. 4.883 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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4.883 |
4.096 |
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2] Share Application Money |
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3.515 |
1.900 |
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3] Reserves & Surplus |
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6.371 |
3.224 |
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4] (Accumulated Losses) |
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(0.631) |
(0.609) |
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NETWORTH |
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14.138 |
8.610 |
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LOAN FUNDS |
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1] Secured Loans |
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10.470 |
10.425 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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10.470 |
10.425 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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24.608 |
19.035 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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13.374 |
14.226 |
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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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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.041 |
0.088 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.859
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2.750 |
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Sundry Debtors |
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7.709
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3.662 |
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Cash & Bank Balances |
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0.061
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0.040 |
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Other Current Assets |
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0.000
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0.000 |
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Loans & Advances |
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0.564
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1.091 |
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Total
Current Assets |
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13.193 |
7.543 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.019
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2.895 |
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Provisions |
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0.033
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0.000 |
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Total
Current Liabilities |
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2.052
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2.895 |
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Net Current Assets |
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11.141
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4.648 |
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MISCELLANEOUS EXPENSES |
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0.052 |
0.073 |
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TOTAL |
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24.608 |
19.035 |
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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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14.831 |
8.537 |
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Other Income |
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2.037 |
1.090 |
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Total Income |
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16.868 |
9.627 |
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Profit/(Loss) Before Tax |
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0.059 |
(0.545) |
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Provision for Taxation |
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0.081 |
0.039 |
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Profit/(Loss) After Tax |
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(0.022) |
(0.584) |
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Expenditures : |
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Total Expenses |
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13.456 |
8.452 |
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Financial Charges |
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1.417 |
0.657 |
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Depreciation |
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1.936 |
1.063 |
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Total Expenditure |
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16.809 |
10.172 |
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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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0.13 |
6.07 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.40 |
6.38 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.22 |
2.50 |
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Return on Investment (ROI) (PBT/Networth) |
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0.00 |
(0.06) |
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Debt Equity Ratio (Total Liability/Networth) |
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0.88
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1.55 |
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Current Ratio (Current Asset/Current Liability) |
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6.53
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2.60 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Corporation identity number or foreign company registrations number of the company |
U28920DL1996PTC080045 |
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Name of the company |
SUPERFINE COMPONENTS PRIVATE LIMITED |
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Address |
MS – 90, Hari Nagar, |
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This Form is for |
Creation of charge |
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Type of Charges |
Equitable mortgage or martgage of property by depositing the title deeds, Hypothecation. |
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Particular of the charge holder |
Punjab
National Bank, Naraina Vihar, |
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Nature or description of the instrument creating charge |
Term Loan Agreement of Rs. 3.800 Millions for purchase of Machinery, Agreement for Hypothecation Of Moveable Assets forming part of Fixed Block Assets and Agreement for Hypothecation Of assets to secure Term Loan |
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Date of the instrument creating charge |
19.04.2006 |
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Amount Secure by the charge |
Rs. 3.800 Millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
The borrower shall pay interest at 5.25% over RBI rate p. a. with a minimum of 11.25% p. a. with quarterly rests. The loan shall be repaid in 20 quarterly installments of Rs. 1.900 Millions w. e. f. Oct. 2006. |
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Description of the property charge whether it is a charge on |
Immovable properties, Plant and Machinery, Furniture and Fixtures, Vehicles. |
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Particulars of the Property charged |
Equitable Mortgage of Property situated at Plot No. 118, Sector 5, Manesar. |
Website Details:-
Subject is an internationally accredited manufacturer & exporter of precision auto turned parts and components acknowledged since 1986. THEY focus primarily on productivity, quality, employee satisfaction, growth transparency and trust.
They are an ISO 9001-2000 certified company that validate the efficiency of
their total quality management and authenticity of their statements.
Considering the future and to improve their productivity Superfine Components
conducts its manufacturing process at its Modish and Sophisticated Plant
located at IMT Manesar, Gurgaon. They are fully equipped with the latest
machineries, skilled manpower and polished organizational credentials.
Strategy
They work towards achieving total customers satisfaction by
ensuring on-time delivery and a diversified product range that
include Bright Bar Turned components, CNC Machined Components, Precision
Tubular Components, plastic moulded components, Fasteners, Cold Forging, Wiring
Harnesses that are highly consistent in quality. They make continuous efforts
in order to build up mutually beneficial relationship with their vendors and
employees for the wholesome betterment of the society.
Sister Concerns
Superfine Components Pvt. Ltd. was earlier known as Super Precision Components
(ISO 9001-2000). Today, they have two sister concern (a) Super Precision
Components (ISO 9001-2000). (b) Super Harness Pvt. Ltd. ( ISO 9001-2000) which
was started in 1996.
They are the manufacturer and exporter of the following product range:
v Bright
Bar Turned components
v CNC
Machined Components
v Precision
Tubular Components
v Plastic
moulded components
v Fasteners
v Cold
Forging
v Wiring
Harnesses
Clients
Their products are supplied to the esteemed clients in the country like:
v Bharat
Electronics Ltd.(Gaziabad, Panchkula, Kotdwar)
v Lumax
Industries Ltd. (Gurgaon, Daruhera, Pune)
v Minda
Industries Ltd. (Kundli, Manesar, Pune) T
v he
west India Power Equipments Pvt. Ltd.
v Fiem
Industries Limited
v Luman
Auto Pvt. Ltd.
v Prasha
Technologies Pvt. Ltd.
v M & M
Machine Craft Pvt. Ltd. and many others
Industries They Serve
v Automobile
Industries
v Engineering
Industries
v Electrical
Industries
v Electronics
& Home Appliances
Quick Look
Ultramodern Plant
ISO 9001-2000 Certification
Full Power back Facilities
Diversified
Highly Skilled Manpower
Prompt Delivery
Competitive Price
Sister Concerns
Super Precision Components Pvt. Ltd.
Super Harness Pvt. Ltd. (ISO 9001-2000)
SUPERFINE COMPONENTS PVT. LTD.
A Quality Driven Company with Focus on Total Customer Satisfaction
(An ISO 9001-2000 Certified Company)
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 |
|
US Dollar |
1 |
Rs.40.84 |
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|
1 |
Rs.80.47 |
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Euro |
1 |
Rs.54.32 |
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 |
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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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
|
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 |
|
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 |
|
<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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