MIRA
INFORM REPORT
|
Report Date : |
17.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
SHEELA FOAMS
PRIVATE LIMITED |
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Registered
Office : |
C-55, Preet
Vihar, First Floor, Vikas Marg, |
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Country : |
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Financials (as
on) : |
31.03.2006 |
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Date of
Incorporation : |
18.06.1971 |
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Com. Reg. No.: |
55-5679 |
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CIN No.: [Company
Identification No.] |
U74899DL1971PTC005679 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
DELS21008B |
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PAN No.: [Permanent
Account No.] |
AAACS0189B |
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Legal Form : |
Private Limited
Liability Company |
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Line of
Business : |
Manufacturers of
Flexible Polyurethane Foam products such as Mattress, Foam Pillow Covers, Bed
Cushions and Covers. |
RATING & COMMENTS
|
MIRA’s Rating
: |
Ba |
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 3180000 |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having fine track records. Directors are reported as experienced,
respectable and resourceful industrialists.
Their trade relations are reported as fair. Financial position of the company is good. Payments are reported as correct and as per
commitments. The company can be considered normal for
business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
C-55, Preet
Vihar, First Floor, Vikas Marg, |
|
Tel. No.: |
91-11-22467764/22222722 |
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Fax No.: |
91-11-22220624 |
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E-Mail : |
rahul@sheelafoam.com |
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Website : |
http://www.sleepwellflexipuf.com, http://www.sheelafoam.com |
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Corporate
Office : |
Plot No. 37/2,
Site IV, Sahibabad Industrial Area, District |
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Tel. No.: |
91-120-2770045/2770087/2775425/2770539 |
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Fax No.: |
91-120-2770366/2775427 |
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E-Mail : |
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Factory 1 : |
·
Sahibabad,
Uttar Pradesh ·
51-A,
Udyog Vihar, Greater Noida, Uttar Pradesh ·
Sarajpur,
Uttar Pradesh ·
·
Plot
No. 37/2, Site IV, Sahibabad Industrial Area, District Tel. No. 91-120-270045/2770087/2775425 Fax No. 91-120-2770366/2775427 ·
Survey
No. 261/1/2/3, Saily Umar Kui Road, Silvassa – 396230, Union Territory of
Dadra & Nagar Haveli ·
·
·
A-10,
Sector 8, Noida – 201,301, District Gautam Budh Nagar, Uttar Pradesh ·
·
Plot No.
102/1, |
DIRECTORS
|
Name : |
Mr. Rahul Gautam |
|
Designation : |
Managing Director
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|
Address : |
D – 2, Diwanshree
Apartment, 30, |
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Date of
Birth/Age : |
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Qualification
: |
B.Tech. M.S. (Chemical Engineering) MS ( |
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Date of
Appointment : |
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Other
Directorships |
1.
Core
Moulding(Private) Limited 2.
Feather
foam Enterprises Limited 3.
Soft
Foam Industries Private Limited 4.
Pallavai
Foam Industries Private Limited |
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Name : |
Mrs. Sheela
Gautam |
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Designation : |
Director |
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Address : |
D – 2, Diwanshree
Apartment, 30, |
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Date of
Birth/Age : |
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Date of
Appointment : |
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Name : |
Mr. Praduman
Patel |
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Designation : |
Whole Time
Director |
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Address : |
C-2, Greater
Kailash Part I, |
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Date of Birth/Age
: |
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Date of
Appointment : |
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Name : |
Ms. Namita Gautam
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Designation : |
Director |
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Address : |
D – 2, Diwanshree
Apartment, 30, |
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Date of
Birth/Age : |
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Date of
Appointment : |
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Name : |
Mr. Ravindra
Sharma |
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Designation : |
Director |
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Address : |
289 – A, Road No.
12, MLA Colony, Banjara Hills, |
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Date of
Birth/Age : |
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Date of
Appointment : |
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Name : |
Mr. Rakesh Chahar |
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Designation : |
Whole Time
Director |
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Address : |
12 -7, Nehru
Enclave, Kalkaji Extension, |
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Date of
Birth/Age : |
15.12.1964 |
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Date of Appointment
: |
14.11.2003 |
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Name : |
Mr. Satish Sethi |
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Designation : |
Director |
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Address : |
B – 41, Cozy Home
Apartment, 251, |
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Date of
Birth/Age : |
25.11.1950 |
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Date of
Appointment : |
14.11.2003 |
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Date of
Ceasing : |
25.11.2003 |
KEY EXECUTIVES
|
Name : |
Mr. K. P. Rahul
Gautam |
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Designation : |
Key Executive |
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Name : |
Mr. Sanjay Goel |
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Designation : |
Secretary |
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Address : |
2139, Block – B,
Pocket – 2, Vasant Kunj, |
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Date of
Appointment : |
01.05.2003 |
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Date of
Ceasing : |
01.10.2003 |
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Name : |
Mr. Rajneesh
Kumar Tripathi |
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Designation : |
Secretary |
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Address : |
2, 1st
Floor, |
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Date of
Appointment : |
01.10.2003 |
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Date of
Ceasing : |
01.01.2004 |
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Name : |
Mr. Ravi Gupta |
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Designation : |
Secretary |
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Address : |
C – 5/91, Yamuna
Vihar, |
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Date of Birth
: |
08.04.1978 |
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Date of Appointment
: |
06.01.2004 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mrs. Sheela
Gautam |
5853960 |
|
Mr. Rahul Gautam |
3293160 |
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Ms. Namita Gautam |
1893240 |
|
Mr. Tushaar
Gautam |
662640 |
|
Mr. Praduman
Patel |
1908360 |
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Mr. Kartik Patel |
1426080 |
|
Mr. Himanshu
Patel |
1463520 |
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Ms. Urmila Patel |
1052400 |
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Ms. Chaya
Mukherjee |
120 |
|
Ms. Kalpna Shrish
Amin |
240 |
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Mr. Anil Tandon |
120 |
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Mr. Siya Ram
Sharma |
240 |
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Mr. K. K. Gautam |
240 |
|
Ms. Sunita Sharma |
240 |
|
Polyflex
Marketing Private Limited |
4488000 |
|
Serta India
Private Limited |
1620000 |
|
Starlite India
Private Limited |
330000 |
|
Ms. Alpana Verma
& Mr. Aseem Verma |
120 |
|
Ms. Shama Kapoor
& Mr. Sunit Kapoor |
240 |
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Mr. J. K. Sharma |
120 |
|
Mr. Arvind Kumar |
240 |
|
Ms. Padma &
Mr. Prateek Gautam |
480 |
|
Rajesh Neena
& Arpita Sharma |
240 |
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Mr. Asha Kapoor |
120 |
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Mr. Kusum Gautam |
120 |
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Ms. Sneh Lata
Jain & Sarika Jain |
120 |
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Ms. Shobha
Jagdish Amin |
240 |
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Janubi Devendra
& Rajul Devendra |
240 |
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Uma Gautam &
Vidyawati Gautam |
240 |
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Kanak Lata Sharma
& Tushant Sharma |
120 |
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|
360 |
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Lok Chand Kapoor
& |
240 |
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Ashish Sharma
& J. K. Sharma |
240 |
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Mr. Rakesh Chahar |
120 |
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Mr. Ravindra
Sharma |
120 |
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Mr. Amitabh
Devendra |
120 |
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Ms. Versha H.
Patel |
1200 |
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Ms. Meenakshi
Patel |
1200 |
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Ms. Renu Patel |
1200 |
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TOTAL |
24000000 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturers of
Flexible Polyurethane Foam products such as Mattress, Foam Pillow Covers, Bed
Cushions and Covers. |
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Products : |
·
PU
Foam Mattress ·
Sleep
Products ·
Sleepwell
Flexi-Puf, the brand leader in comfort products, is exclusively made of Flexible
PU Foam manufactured by Company. ·
Sleepwell
Flexi-Puf range includes products that are of special value to hospital and
nursing homes. |
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Exports to : |
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Imports from : |
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Terms : |
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Selling : |
Cash, Contract,
Others, L/C or Credit (30/60 days) |
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Purchasing : |
Cash, Contract,
L/C or Credit (30 days) |
PRODUCTION STATUS
|
Particulars |
Unit |
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Licensed Capacity |
|
Polyurethane Foam
and allied production |
Mt. |
|
|
15000 Mt/p. a. |
|
Polyurethane Foam
and Coir Sandwitch mattresses |
Pcs. |
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|
150000 Pcs./p.a. |
GENERAL INFORMATION
|
Suppliers : |
v
v
Manali
Petrochemicals Limited, Chennai, Tamil v
UB
Petroproducts Limited, Chennai, Tamil v
TPI
Polyol Company Limited, v
Dow
Services Singapore Pte Limited, v
Marubeni
Corporation, v
Bayer
Polyurethane's v
Dow
Chemicals Pacific ( |
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Customers : |
Wholesalers,
manufacturers, retailers and government bodies. Some of its’
major customers are :- v
Foam
Trading Company, v
Kalpa
Sales, v
G.
Dayaram & Company, Mumbai, v
Uttar
Pradesh State Road Transport Corporation, v
Maharashtra
State Road Transport Corporation, v
Shree
Ram Industries, Wazirpur, v
Poly
Lamination (Private) Limited, Noida, v
Badar
Industries (Private) Limited, Noida, v
Capital
Foam Traders, v
Raj
Stores, v
A.P.I.
Polymer ( v
Nikhil
Udyog, v
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No. of
Employees : |
500 |
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Bankers : |
Central Bank of Jammu &
Kashmir Bank Limited, Standard
Chartered Bank Narain Manzil,
23, |
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Facilities : |
Hypothecation of Plant & Machinery: Rs. 19.400 millions Term Loan: Rs. 2.700 millions Cash Credit: Rs. 39.400
millions |
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Banking Relations : |
Satisfactory |
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Auditors : |
Gupta and Gupta Chartered
Accountants |
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Address: |
4/8, |
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Tel. No.: |
91-11-23279527/23276456 |
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Fax No.: |
91-11-23280660 |
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Associates/Subsidiaries
: |
v
Sleepwell
Enterprises Private Limited v
Feather
Foam Enterprises Private Limited v
Serta
India Private Limited v
Dunlopillo
India Private Limited v
Pallavi
Foam Industries Private Limited v
Sterlite
India Private Limited v
Core
Mouldings Private Limited v
S.F.
Enterprises Private Limited v
Polyflex
Marketing Private Limited Subsidiaries: v
Pallavi
Foam Industries Private Limited, v
M/s.Kanpav
Overseas Private Limited-U51909DL1998PTYC092164 v
M/s
Auora Foams Private Limited – U25209DL2000PTC108174 v
M/s
Joyce Foam Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
295000 |
Equity Shares |
Rs. 100/- each |
Rs 29.500 millions |
|
5000 |
Preference Shares
|
Rs. 100/- each |
Rs. 0.500
million |
|
|
Total |
|
Rs.30.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
295000 |
Equity Shares |
Rs. 100/- each |
Rs 29.500 millions |
|
5000 |
Preference Shares
|
Rs. 100/- each |
Rs. 0.500
million |
|
|
Total |
|
Rs.30.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
|
240.952 |
240.000 |
|
|
2] Share
Application Money |
|
57.095 |
99.740 |
|
|
3] Reserves &
Surplus |
|
498.783 |
386.752 |
|
|
4] (Accumulated
Losses) |
|
0.000 |
0.000 |
|
NETWORTH
|
|
796.830 |
726.492 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
274.843 |
246.919 |
|
|
2] Unsecured
Loans |
|
121.585 |
134.755 |
|
TOTAL
BORROWING
|
|
396.428 |
381.674 |
|
|
DEFERRED TAX
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
TOTAL
|
|
1193.258 |
1108.166 |
|
|
|
|
|
|
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APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block]
|
|
417.734 |
430.479 |
|
Capital work-in-progress
|
|
29.256 |
6.952 |
|
|
|
|
|
|
|
INVESTMENT
|
|
105.707 |
4.532 |
|
DEFERREX TAX ASSETS
|
|
12.510 |
11.797 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
260.833 |
422.655 |
|
|
Sundry Debtors
|
|
379.081 |
415.192 |
|
|
Cash & Bank Balances
|
|
26.037 |
29.106 |
|
|
Other Current Assets
|
|
16.747 |
9.312 |
|
|
Loans & Advances
|
|
181.911 |
92.984 |
Total Current Assets
|
|
864.609 |
969.249 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
|
232.240 |
286.759 |
|
|
Provisions
|
|
52.047 |
29.571 |
Total Current Liabilities
|
|
284.287 |
316.33 |
|
Net
Current Assets
|
|
580.322 |
652.919 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
47.729 |
1.487 |
|
|
|
|
|
|
|
TOTAL
|
|
1193.258 |
1108.166 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
2648.783 |
2402.069 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
2648.783 |
2402.069 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
101.333 |
51.776 |
|
|
Provision for Taxation |
|
22.534 |
6.245 |
|
|
Profit/(Loss) After Tax |
|
78.799 |
45.531 |
|
|
|
|
|
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|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
|
35.301 |
28.741 |
|
|
Depreciation |
|
47.991 |
52.057 |
|
|
Other Expenditure |
|
2380.866 |
2188.697 |
|
Total Expenditure |
|
2464.158 |
2269.495 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
|
2.97 |
1.89 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
3.82 |
2.15 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
7.90 |
3.69 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.12 |
0.07 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
0.35 |
0.43 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
|
3.04 |
3.06 |
LOCAL AGENCY FURTHER INFORMATION
Business:
The company has
been accredited with ISO 9001:2000 Certification.
Form 8 Particular for
creation or modification of charges
|
Corporation identity number or foreign company registrations number of
the company |
U74899DL1971PTC005679 |
|
Name of the company |
SHEELA FOAMS
PRIVATE LIMITED |
|
Address |
C-55, Preet Vihar,
First Floor, Vikas Marg, |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder
|
Standard Chartered Bank Narain Manzil, 23, E-mail : gkjain1234@rediffmail.com |
|
Nature or description of the instrument creating charge |
Agreement of hypothecation of machinery |
|
Date of the instrument creating charge |
17.07.2006 |
|
Amount Secure by the charge |
Rs. 110.000 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest as may be determined by the Bank from time to time |
|
Description of the property charge whether it is a charge on |
Plant and machinery |
|
Particulars of the Property charged
|
Hypothecation by way of pari passu charge over the whole of the fixed
assets of the borrower situated at co’s premises, factories or whereverelse situated,
including its movable plant and machinery, machinery spares, tools and
accessories and other movables, both present and future [except assets
specifically charge to SCB] |
|
Name of the
company |
SHEELA FOAM
PRIVATE LIMITED |
|
Presented By |
Sheela Foam Private Limited, |
|
1) Date and
description of instrument creating the change |
22.11.2005 Copy
of recital 22.11.2005
Article of Agreement |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 200.000
millions |
|
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 |
1st
charge over net block assets of the company. Present and future [excluding
factory land & building of Sikkim & Greater Noida Unit], and 2nd
charge on Greater Noida unit including equitable mortgage of properties
situated at following locations : - 1. Land &
building at Survey No. 102/1, at village Rakholi, Union Territory of Dadra
& Nagar Haveli & Silvassa [village pachayat No. 213, Rakholi Gram,
Panchayat] 2. Land &
building at Survey No. 261/1/2/3 village Saily, Silvassa Union Territory of
Dadra & Nagar Haveli 3. Land &
Building at 37/2 site – 4, Sahibabad industrial area, Gaziabad, UP 4. Land &
building at 5. Land &
building at Survey No. 852, of Medchal village and Mandal, Ranga ready
district Andhra Pradesh 6. Land &
building at R 3 No. 131/1, 131/2, 131/3 and 128/1 at Thiruvandarkoil, 7. Land &
building at survey no. 257, village syali, UT of Dadra & Nagar Haveli 8. Land &
building at 51A, Udyog Vihar, Greater Noida, UP 9. Negative lien
on office building at C – 55 Preet Vihar, Vikas Marg, The above
properties provided to secure the total credit limits of Rs. 585.500 millions FUND BASED Amount in Rs. Millions 1. CC [hyp.] /
WCDL Rs. 110.000 3. OD-Book
Debts Rs. 139.000 5. IBP/IBD Rs. 1.000 6. Term
loan-Sikkim proj. Rs. 5.500 7. Term
loan-New Rs. 200.000
-----------------------------
Rs. 455.500
------------------------------ NON FUND
BASED Amount in Rs. Millions 1. Letter of
Credit Rs.
100.000 2. Bank
Guarantee Rs. 10.000
3. LC for
DA/DP] Rs. 20.000
----------------------------- Rs. 130.000
----------------------------- Grand Total Rs. 585.500
----------------------------- |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
ROI : BPLR – 3% [minimum 8%] p.a. on monthly rests. Repayment I 5 years in 20 quarterly installments after moratorium of
one year Personal Guarantee of following directors to cover the fresh term loan
exposure :- 1. Sheela Gautam 2. Rahul Gautam 3. Namita Gautam 4. Praduman Patel 5. Ravindra Sharma |
|
5) Name and
Address and description of the person entitled to the charge. |
Central Bank of Parliament Street, |
|
6) Date and brief description of instrument
modifying the charge |
N.A. |
|
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. |
N.A. |
As Per Web Site:
Introduction
company, pioneered the
manufacturing of P.U. Foam in
This has been achieved by their relentless focus on quality, innovation and
continual improvement. Over the last 30 years they have made giant strides not
only in manufacturing capabilities but also in their methods of testing &
ensuring quality.
In
In
Sheela Foam’s Sleepwell and Feather Foam brands are leading and
most trusted brands in home comfort products and industrial foam respectively
in
In addition to standard P.U. Foam they manufacture a wide variety of Technical
Foams i.e. Memory, Fire Retardant, High Resilience, Reticulated, etc.
Rubberised coir pads manufactured by them are used in their comfort products
and are also exported to various countries.
Sheela Foam takes its social responsibility seriously, which is addressed
through its 'Sleepwell Foundation'. This Foundation conducts and sponsors
various workshops and promotes sleep through various means. It also works on
welfare schemes for the underprivileged.
As a leader in the P.U. Foam industry in
And that’s something an industry leader, Sheela Foam is quite used to putting
into practice.
1972 : Founded as a small unit by Mrs. Sheela
Gautam, Chairperson.
1985 : Extended operations to NOIDA, a
Satellite town of
Till 1991 : Growth was slow but steady as Government
of India controlled imports of raw material.
1991 : The first "State-of-the-Art"
Maxfoam plant was set up near
1993 onwards : Process of liberalization started in the
country and Sheela Group began rapid expansion.
1994 : Acquisition of a full fledged Plant near
1994 : "Sleepwell" brand
launched.
1996 - 97 : Two more units added -At Silvassa, near Mumbai
and
1997 - 98 : Introduced Rubberized Coir products
under "Starlite" Brand.
1998 - 99 : Tie - ups with
2001 : Set - up
2001 : Merged "Starlite" & "Sleepwell"
brands to have all comfort products under one brand.
2002 : Expanded operations in North from a
plant at Rajpura,
2003 : Set - up a manufacturing Unit at
2004 : Set - up a Plant for Production of
Rubberized Coir in
2005 : Acquired Polyurethane & Polystyrene
business of
2006 : Entered into a Joint Venture with
Woodbridge Group,
P.U.
Foam.
Home Comfort Products
Mattresses
Choose the
mattress from the widest range of Sleepwell Mattresses. The choice includes
Flexi Puf, Flexi Coir, Latex Plus, Durafirm Back Support, Spring and Hospital
Mattresses.
Pillows, Bolsters
& Back Cushions
Sleepwell
makes a wide range of Pillows, Bolsters & Back Cushions. Each type of
product provides a different combination of comfort and support.
Cushioning for
Furniture
Investing
the hard-earned money on expensive furniture? Then why compromise on cushioning
material. After all, you do not make furniture everyday. Check Sleepwell's
Cushioning for
Ready to Use Furniture
Products
of universal appeal that blend easily with any décor and provide an ideal
combination of comfort & support.
Industrial Products
Polyether
Foams
They have
an open cell structure that ensures free flow of air through them. They have
excellent mechanical strength, resilience and are available in densities
ranging from 10 kg/m3 to 60 kg/m3. These foams can be
milled, felted, die-cut, laminated etc.
These Foams are
very versatile & can be made in various hardnesses to make them suitable
for a wide range of applications.
Standard Foam
Soft Foam
Hard Foam
In roll form,
these foams can be made with joints at 30 & 60 meters.
Unlike
Polyether Foams, Polyester Foams of same density have different
characteristics. They have a regular and fine cell structure, higher mechanical
strength and are not affected by organic solvents and petroleum products. These
foams can be die-cut, bored, milled, glued, flame-laminated etc.
These are
available in several grades that are suited for various industrial and
laminated applications.
Special Foams
These are
Polyether & Polyester based Foams specially manufactured to meet customer
specified technical requirements. Sheela Foam has the manufacturing capability
& an in house design & development that can develop products meeting
not only technical requirements but also the price value equation needed by the
custome
Exports
International Market
Sheela Foam's International
Marketing operations are organized by a dedicated export division that manages
a network of international distributors & OEM customers - supported by its
10 manufacturing units in
They offer a wide
range of P.U. Foam products for export market like Polyether
Foam, Polyester Foam & Special Foams.
Their Sleepwell
range of Home Comfort Products
include products like Mattresses (P.U. Foam, Spring, Latex Plus, Rubberised
Coir), Pillows (P.U. Foam, Memory Foam & Polyester Fibre) & Cushions
(P.U. Foam) for seating application. They also manufacture customized products
and do private labeling on these products for the export market.
They also manufacture & offer Rubberised
Coir Sheets for Export market.
Their R&D lab
has a highly experienced team supported by a robust infrastructure and
capability to develop and offer products as per customer's requirements. A
stringent quality control ensures that the products consistently are of good
quality, lot after lot.
Their network of
competitive logistic channels helps them export the material at minimal cost.
With a wide range of products Sheela Foam's exports & presence in the
International market is growing continually.
They welcome inquires
from Dealers/Agents/Representatives and OEM customers.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.90 |
|
|
1 |
Rs.80.78 |
|
Euro |
1 |
Rs.5518 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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 |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|