MIRA
INFORM REPORT
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Report Date : |
02.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SWAR EXIM PRIVATE LIMITED |
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Registered Office : |
248, Shanti Industrial Estate, “B” wing |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
25.10.2004 |
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Com. Reg. No.: |
149225 |
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CIN No.: [Company
Identification No.] |
U51490MH2004PTC149225 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS44753C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of various types of pigments like synthetic red oxide,
inorganic chrome pigments and organic pigments. |
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 888 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track. Directors
are reported as experienced and respectable businessmen. Trade relation are
reported as fair. Business is active, Payments are however reported as
usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
248, Shanti Industrial Estate, “B” wing S
N Road, Mulund (West) , Mumbai;400080, |
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Tel. No.: |
91-22-55974081 |
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Fax No.: |
91-22-21648187 |
DIRECTORS
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Name : |
Mr. Nirav Jashwant Raveshia |
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Designation : |
Director |
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Address : |
8-A, 502 Neelam Nagar, Mulund (East), Mumbai;400081, |
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Date of Birth/Age : |
06.06.1964 |
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Date of Appointment : |
25.10.2004 |
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Name : |
Mr. Punita Nirav Raveshia |
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Designation : |
Director |
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Address : |
8-A, 502 Neelam Nagar, Mulund (East), Mumbai;400081, |
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Date of Birth/Age : |
28.04.1942 |
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Date of Appointment : |
25.10.2004 |
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Directorship in other companies: |
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CIN of Company: |
U24229MH2004PTC147763 |
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Name of the company: |
JPS Resins Private Limited |
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Designation: |
Director |
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CIN of Company: |
U24110MH1999PTC121238 |
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Name of the company: |
N R Chemicals and Resins Private Limited |
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Designation: |
Director |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Nirav Jashwant Raveshia |
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9500 |
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Punita Raveshiav |
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500 |
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Jashwant J Raveshia |
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500 |
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Shilpa Nirav Raveshia |
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500 |
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Nirav Jashwant Raveshia HUF |
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500 |
Equity share breakup:
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers of various types of pigments like synthetic red oxide,
inorganic chrome pigments and organic pigments. |
GENERAL INFORMATION
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No. of Employees : |
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Bankers : |
Janakalyan
sahakari Bank Limited, 140, Vivek
Darshan , Opp Bhakti Bhavan , Sindhi Society, Chembur, Mumbai;400071, |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vedula Vijay and Ramanathan Chartered Accountant |
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Address : |
Room No.28, 211/219, Bharati Bhavan, Third Floor, P.D’mello Road,
Fort, Mumbai;400001, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
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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0.100 |
0.100 |
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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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0.122 |
0.057 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.222 |
0.157 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.435 |
0.073 |
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TOTAL BORROWING |
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0.435 |
0.073 |
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DEFERRED TAX LIABILITIES |
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0.012 |
0.000 |
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TOTAL |
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0.669 |
0.230 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.077 |
0.000 |
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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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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.508 |
2.840 |
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Cash & Bank Balances |
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0.072 |
0.012 |
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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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0.028 |
0.005 |
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Total
Current Assets |
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0.608 |
2.857 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.024 |
2.625 |
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Provisions |
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0.036 |
0.061 |
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Total
Current Liabilities |
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0.060 |
2.686 |
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Net Current Assets |
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0.548 |
0.171 |
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MISCELLANEOUS EXPENSES |
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0.044 |
0.059 |
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TOTAL |
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0.669 |
0.230 |
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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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Debt Equity Ratio (Total Liability/Networth) |
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0.27 |
17.10 |
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Current Ratio (Current Asset/Current Liability) |
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10.13 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
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Corporate
identity number of the company |
U51490MH2004PTC149225 |
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Name of the
company |
SWAR EXIM PRIVATE
LIMITED |
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Address of the
registered office or of the principal place of business in |
248, Shanti Industrial Estate, “B” wing |
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This form is for |
Creation of
charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
Janakalyan
sahakari Bank Limited, 140, Vivek
Darshan , Opp Bhakti Bhavan , Sindhi Society, Chembur, Mumbai;400071, |
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Nature of
instrument creating charge |
Agreement of
Hypothecation of Stocks and Book-Debts |
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Date of
instrument Creating the charge |
25.05.2006 |
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Amount secured by
the charge |
Rs.2.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Facility : Cash Credit (Hypopthecation) Limits : Rs.2.000 Millions Margin : 25% Rate of
Interest: 12% |
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Description of
the property charged |
Stock in trade,
Book Debts |
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Particulars of
the property charged |
Hypothecation of
entire stocks of dyes, pigments and chemicals being and lying at company’s
office premises and factory premises situated at 248, Shanti Industrial
Estate, S N Road, Mulund (west), Mumbai:400080 and entire Book-Debts of the
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.18 |
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1 |
Rs.82.02 |
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Euro |
1 |
Rs.56.07 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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28 |
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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