MIRA
INFORM REPORT
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Report Date : |
18.10.2007 |
IDENTIFICATION DETAILS
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Name : |
S V DISTRIBUTORS PRIVATE LIMITED |
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Registered Office : |
228 Keytuo Industrial Estate, J B Nagar, Andheri ( East), Mumbai – 400
059, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
11.01.1994 |
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Com. Reg. No.: |
076003 |
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CIN No.: [Company
Identification No.] |
U51900MH1994PTC076003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM16174E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distributors and traders of wines and spirits of all types including
whisky, rum, brandy, vodka, beer and liquors. |
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 177732 |
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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 well-established and reputed liquor and reported to be progressing
well. The company’s latest financials are missing from the Government
Departments. Directors are reported as experienced and respectable
businessmen. Trade relations are fair. Payments are reported as usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. We are trying to obtain latest financials and if available a
supplementary report will be sent. |
LOCATIONS
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Registered Office : |
228 Keytuo Industrial Estate, J B Nagar, Andheri ( East), Mumbai – 400
059, |
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Tel. No.: |
91-22-28374813 |
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Fax No.: |
91-22-28374817 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Neeraj M. Rawal |
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Designation : |
Director |
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Address : |
202/203, Benhur Apartments, 2nd Floor, 32, |
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Date of Birth/Age : |
20.06.1952 |
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Date of Appointment : |
11.01.1994 |
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Name : |
Mr. Promila Neeraj Rawal |
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Designation : |
Director |
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Address : |
202/203, Benhur Apartments, 2nd Floor, 32, |
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Date of Birth/Age : |
15.09.1958 |
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Date of Appointment : |
11.01.1994 |
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Name : |
Mr. Viveka Neeraj Rawal |
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Designation : |
Director |
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Address : |
202/203, Benhur Apartments, 2nd Floor, 32, |
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Date of Birth/Age : |
19.04.1980 |
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Date of Appointment : |
01.04.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Equity Shares: |
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Vitari Distributors |
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55000 |
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S V Enterprises |
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55000 |
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Mr. Neeraj M. Rawal |
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100 |
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Mrs. Promila N. Rawal |
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100 |
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Total |
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110200 |
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Preference
Shares: |
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S V Enterprises |
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105000 |
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Black Cadillic Hotels Private limited |
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85000 |
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Total |
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190000 |
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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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99.80 |
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Directors or relatives of directors |
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0.20 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributors and traders of wines and spirits of all types including
whisky, rum, brandy, vodka, beer and liquors. |
GENERAL INFORMATION
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Bankers : |
v
Vijaya Bank Alka Chamber, E-Mail: adlalwani@rediffmail.com v
Vijaya bank Wadala Branch, 82, Shumb Tirth, |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Nilesh M. Kapadia and Company Chartered Accountants |
CAPITAL STRUCTURE
Authorized Capital:
Not Available
Issued, Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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1350200 |
Equity Shares |
Rs.10/- each |
Rs.13.502
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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13.502 |
13.502 |
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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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30.931 |
29.898 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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44.433 |
43.400 |
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LOAN FUNDS |
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1] Secured Loans |
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87.099 |
51.268 |
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2] Unsecured Loans |
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0.108 |
3.344 |
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TOTAL BORROWING |
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87.207 |
54.612 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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131.640 |
98.012 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.558 |
5.631 |
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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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8.469 |
7.828 |
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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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24.246 |
18.564 |
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Sundry Debtors |
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104.282 |
69.356 |
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Cash & Bank Balances |
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0.864 |
5.725 |
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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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18.321 |
12.196 |
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Total
Current Assets |
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147.713 |
105.841 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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30.057 |
21.210 |
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Provisions |
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0.043 |
0.094 |
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Total
Current Liabilities |
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30.100 |
21.304 |
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Net Current Assets |
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117.613 |
84.537 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.016 |
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TOTAL |
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131.640 |
98.012 |
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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 (including other income) |
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724.168 |
664.263 |
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Total Income |
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724.168 |
664.263 |
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Profit/(Loss) Before Tax |
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3.117 |
380.390 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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3.117 |
380.390 |
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Expenditures : |
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731.458 |
293.853 |
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Total Expenditure |
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731.458 |
293.853 |
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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0.43 |
57.26 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.43 |
57.26 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.03 |
341.24 |
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Return on Investment (ROI) (PBT/Networth) |
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0.07 |
8.76 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.67 |
0.49 |
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Current Ratio (Current Asset/Current Liability) |
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4.90 |
4.96 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
ł Furniture and Fixtures
ł Motor cars
ł Computers
ł Scooters
ł Electrical Installations
ł Telephone Instruments
ł Fax
ł Generator
ł Cycle
ł Vacuum Cleaner
ł Refrigerator
ł Air Conditioners
ł Electrical Typewriters
ł Pager
ł Goodwill
Form 8
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Name of the company |
S V DISTRIBUTORS PRIVATE LIMITED |
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Presented By |
Vijaya Bank Wadala Branch,
Mumbai, |
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1) Date and description of instrument creating the change |
Dated 25.03.2003 a) Hypothecation Agreement b) Agreement for Bills (Both the documents
constitute a single charge) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 65.000
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 |
The Borrower
hypothecates by way of first charge in favour of the Bank- a) Stock of liquor and beer stored at Unit
No. 9, 9A, 10, Keytuo Industrial estate, Kondivita Road, Kondivita Village,
Andheri (East), Mumbai – 400 059 and Book Debts. b) All and singular the bills, the goods and
the documents comprising goods which may be endorsed and/or delivered to the
Bank by the Borrower. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
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5) Name and Address and description of the person entitled to the charge. |
Vijaya bank Wadala Branch, 2,
Stumb Tirth, |
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Corporate
identity number (CIN) Foreign company registration number |
U51900MH1994PTC076003 |
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Name of the
Company |
S V DISTRIBUTORS PRIVATE LIMITED |
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Address |
228 Keytuo Industrial Estate, J B Nagar, Andheri ( East), Mumbai – 400
059, |
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This form is for |
Modification of
Charge |
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Type of Charge |
A charge on: v
Book
Debts v
Movable
Property (not being pledge) v
Current
and Fixed Assets |
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Particulars of
the charge holder |
Vijaya Bank Alka Chamber, E-Mail: adlalwani@rediffmail.com |
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Nature or
description of the instrument(s) creating or modifying the charge |
Supplementary
Agreement |
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Date of the
instrument creating or modifying the charge |
16.08.2007 |
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Amount secured by
the charge |
Rs. 150.000
millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
(a) Rate of
Interest: As stipulated by Bank from time to time. (b) Terms of Repayment:
As stipulated by Bank from time to time. (c) Margin: As
stipulated by Bank from time to time. (d) Extent and
operation of the charge: First charge
(Present and Future)= As stipulated by Bank from time to time = Total Limit
Rs. 140.000 millions (Cash Credit = Rs. 130.000 millions, Cheque Purchase
Limit = Rs. 10.000 millions and Bank Guarantee/ FLC = Rs. 10.00 millions) (e) Others: As
stipulated by Bank from time to time and as per agreement attached and as per
sanction Letter. |
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Short particulars
of the property charged (including location of the property) |
First charge
(Present and Future) = (1) Hypothecation
of all types of stock lying at Company godown or wherever else or in transit
including goods brought under L.C. (2) Hypothecation
of Book debts and Receivables. (3) Hypothecation
of Documents to Title of Goods. |
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Particular of the
present modification |
By this
modification limit increase to Rs. 150.000 millions continued securities as
given by original charge as well as by modifications. |
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. 39.68 |
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1 |
Rs. 80.53 |
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Euro |
1 |
Rs. 56.23 |
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 |
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
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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. |
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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