MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SIGNOUR LAMINATES
[INDIA] PRIVATE LIMITED |
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Registered Office : |
A – 33, GIDC
Electronic Estate, Sector – 25, Gandhinagar – 382025, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
29.04.2005 |
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Com. Reg. No.: |
04-45971 |
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CIN No.: [Company
Identification No.] |
U20299GJ2005PTC045971 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMS11188C |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturers and
Importers of Copper dad laminates, Fr – 4 [Abbreviated form of flame
retardant] |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 44000 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new
company and has yet to establish track.
Trade relations are fair. No
payment records are available. The company can
be considered for any business dealings on safe and secured trade terms and
conditions. The company has
not failed any financials with the Government department after 2006. We
interacted with Mr. Robin Chowdhury, who parted general information, but so
far failed to update with 2007 financials. |
INFORMATION PARTED
BY
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Name : |
Mr. Robin Nilmoni
Chowdhury |
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Designation : |
Managing Director
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Mobile No.: |
91-9825114670 |
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Date : |
03.04.2008 |
LOCATIONS
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Registered Office / Factory : |
A – 33, GIDC
Electronic Estate, Sector – 25, Gandhinagar – 382025, Gujarat, India |
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Tel. No.: |
91-79-23287500 /
01 / 23244701 / 23244699 |
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Mobile No.: |
91-9825114670 |
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Fax No.: |
91-79-23287502 /
23244599 |
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E-Mail : |
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Website : |
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Area : |
2472 sq. mts. [Owned] |
/DIRECTORS
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Name : |
Mr. Robin Nilmoni Chowdhury |
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Designation : |
Managing Director |
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Address : |
106/1, Sector – 28, Ch Type, Gandhinagar |
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Date of Appointment : |
29.04.2005 |
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Name : |
Mr. Ketan J Patel |
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Designation : |
Director |
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Date of Birth/Age : |
25 Years |
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Qualification : |
Graduate |
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Name : |
Mr. Jayantibhai O. Patel |
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Designation : |
Director |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Graduate |
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Name : |
Mr. Kanaiyalal
Jesangbhai Patel |
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Designation : |
Director |
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Address : |
Plot No. 693/1,
Panchvati Park, Sector – 23, Gandhinagar – 382023, Gujarat, India |
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Date of Appointment : |
05.09.2005 |
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Name : |
Mr. Narshibhai
Meghajibhai Meruliya |
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Designation : |
Director |
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Address : |
9, Gayatri
Society, No. 5, Hariom Bunglow, Katargam Road, Katargam, Surat, Gujarat,
India |
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Date of Appointment : |
29.04.2005 |
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Name : |
Mr. Ghanshyambhai
Naranbhai Narola |
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Designation : |
Director |
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Address : |
9/A, Bhagat Nagar
Society, Behind ILA Park Society, Opposite Katargam, Surat, Gujarat, India |
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Date of Appointment : |
29.04.2005 |
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Name : |
Mr. Dhanshyambhai
Patel |
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Designation : |
Director |
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Name : |
Mr. Hitesh
Kalatia |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Robin Nilmoni
Chowdhury |
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Designation : |
Key Executive |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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Percentage of
Holding |
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Mr. Robin Nilmoni
Chowdhury |
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2500 |
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Mr. Kanaiyalal
Jesangbhai Patel |
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2500 |
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Mr. Narshibhai
Meghajibhai Meruliya |
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2500 |
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Mr. Ghanshyambhai
Naranbhai Narola |
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2500 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and
Importers of Copper dad laminates, Fr – 4 [Abbreviated form of flame
retardant] |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
China, Malaysia and Germany |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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No. of Employees : |
Around 86 |
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Bankers : |
Bank of India,
Ahmedabad Main Branch |
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Facilities : |
C/C Rs. 5.000 Millions L/C Rs. 30.000 Millions
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
C. G. Patel and Company Chartered Accountants Pandit Shah and Vakil Chartered Accountants Address : C. G. Road, Ahmedabad Mobile No.: 91-9825019819 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1150000 |
Equity Shares |
Rs. 10/- each |
Rs. 11.500
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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11.500 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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[0.481] |
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NETWORTH |
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11.019 |
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LOAN FUNDS |
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1] Secured Loans |
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15.166 |
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2] Unsecured Loans |
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6.010 |
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TOTAL BORROWING |
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21.176 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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32.195 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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28.516 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.506 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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2.297 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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2.772 |
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Total
Current Assets |
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5.575 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.202 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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2.202 |
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Net Current Assets |
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3.373 |
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MISCELLANEOUS EXPENSES |
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0.306 |
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TOTAL |
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32.195 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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0.000 |
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Other Income |
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0.000 |
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Total Income |
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0.000 |
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Profit/(Loss) Before Tax |
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[0.481] |
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Provision for Taxation |
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-- |
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Profit/(Loss) After Tax |
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[0.481] |
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Expenditures : |
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Administrative and Other costs |
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0.372 |
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Interest and Financial Charges |
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0.109 |
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Total Expenditure |
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0.481 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[1.41] |
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Return on Investment (ROI) (PBT/Networth) |
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[0.04] |
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Debt Equity Ratio (Total Liability/Networth) |
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2.12 |
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Current Ratio (Current Asset/Current Liability) |
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2.53 |
LOCAL AGENCY
FURTHER INFORMATION
NOTES
Company incorporated in April 2005 but started its operations in April
2006
BUSINESS
To carry on in
India or elsewhere the business to manufacture, process, treat, wash, cut, turn
to account, commercialize, season, design, develop, fabricate, finish,
manipulate, protect, and to act as agent, broker, contractor, supplier,
importer, exporter, buyer, seller, warehouses, trader, stockist, distributor,
vendor, jobworker, forester or otherwise to deal in all shapes, sizes, forms,
varieties, specifications, descriptions, dimensions of hi-pressure laminates,
laminated sheets, copper laminates, paper phenolic laminates and composite
laminates, laminate products including laminate logs, billets, twigs, fagots,
slices, laminates paving boxes, railway or tramway sleepers, laminate in chips
or particle, golf club shafts, drawn wood, laminate flour, laminate tiles,
laminate blocks, laminate sheets for plywood, blackboard, laminiboard,
bathenboard and similar laminated wood products, reconstituted laminate,
laminate frames, laminate doors, windows and similar fittings, laminate
hardware articles, laminate bodies, laminate boxes, trays, ornaments and other
fancy articles, etc, and other allied items, there parts, fittings and
accessories.
FIXED ASSETS
- Land
- Building
- Furniture and Fixture
- Office Equipments
- Plant and Machinery
- Computer
AS PER WEBSITE DETAILS
Company
Profile
The company is established in the year 2005 and located in
the Electronic Zone at Gandhinagar, Gujarat , India . The management team
comprises of professionals from Copper Clad Laminate industry with expertise in
Glass Epoxy Laminates. Every single person of the company is skilled and
experience with the technical know-how of the manufacturing of copper clad
laminate of high standards. Thus ensuring a total quality product.
The machines for the manufacturing process are specially
selected and designed to manufacture copper clad laminates as per the IPC and
NEMA standards. The process technology is of European standards. The company is
well-equipped with R&D Facility and dedicated team for quality improvement.
The objective of the company is to deliver high quality of Glass Epoxy
Laminates FR-4 Grade for domestic and export market and at competitive price.
SIGNOUR will continue its Customer First tradition of innovating new products
that resolve the challenges in business and helping them all to enjoy a bright
and shining technological future
Quality
Subject
is dedicated to Total Customer Satisfaction thru the Quality of its Product and
Delivery on time. Their Major Raw material supplies like Glass Fabric, Epoxy
Resin, and Copper Foil is from the Worlds best companies. The incoming Raw
Materials are screened thoroughly for all quality parameters and then taken for
production of Laminates. The product quality is monitored at every stage and
samples taken from the machine is tested at regular intervals by the quality
control department.
Machinery
The manufacturing facility at
our company comprises of High Pressure Vacuum press, Vertical Impregnator and
drier, Resin Plant, Shearing machine, Trimming Machine, vacuumed Plate cleaning
machine and many more.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.39.98 |
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UK Pound |
1 |
Rs.79.09 |
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Euro |
1 |
Rs.62.25 |
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 |
4 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
4 |
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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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24 |
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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