MIRA
INFORM REPORT
|
Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SANDHAR LOCKS – A UNIT OF SANDHAR
TECHNOLOGIES LIMITED |
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Registered Office : |
B-6/1, Commercial Centre, Safdar Jung Enclave, New Delhi 110029 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
19.10.1987 |
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Com. Reg. No.: |
029553 |
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CIN No.: [Company
Identification No.] |
U34360DL1987PLC029553 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS03690B |
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Legal Form : |
A closely held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Assembling of various Locking Devices, Electrical,
Electronics, Mechanical, Automobile and Industrial Parts |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 4280000 |
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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.
Financial position of the Company is good. Payments are correct and as per
commitments. The Company is doing
well with a nice Customer list. It can be considered good for any normal business dealing at usual
trade terms and conditions. The Company can be regarded as a promising business Partner in a medium to long run. |
LOCATIONS
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Registered Office : |
B-6/1, Commercial Centre, Safdar Jung Enclave, New Delhi 110029, India |
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Tel. No.: |
91-11-26186359 |
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E-Mail : |
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Website : |
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Area : |
8000 Sq. mtrs. |
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Corporate Office:
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12 C Kiadb Industrial Area, Anekal Taluk Attibele, Bangalore – 562
017, Karnataka, India |
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Tel No.: |
91-8110-7820206/8/9 |
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Factory : |
HSIDC Industrial Area, Sector 18, Delhi, Gurgaon Road, Gurgaon,
Haryana, India |
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Tel. No.: |
91-124-2340368 2340572 |
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Fax No.: |
91-124-4012845 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Arvind Joshi |
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Designation : |
Director |
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Address : |
G-39, Kirti Nagar, 2nd floor, New Delhi 110015, India |
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Date of Birth/Age : |
25.09.1966 |
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Date of Appointment : |
04.12.2006 |
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Name : |
Mr. Jayant Davar |
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Designation : |
Director |
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Address : |
B5/82, Safdarjung Enclave, New Delhi 110029, India |
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Date of Birth/Age : |
18.10.1961 |
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Date of Appointment : |
24.10.1987 |
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Name : |
Mr. Dharmendar Nath Davar |
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Designation : |
Director |
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Address : |
B5/82, Safdarjung Enclave, New Delhi 110029, India |
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Date of Birth/Age : |
08.08.1934 |
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Date of Appointment : |
02.07.1994 |
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Name : |
Monica Davar |
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Designation : |
Director |
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Address : |
B5/82, Safdarjung Enclave, New Delhi 110029, India |
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Date of Birth/Age : |
07.09.1965 |
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Date of Appointment : |
24.10.1987 |
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Name : |
Mr. Mohan Lal Bhagat |
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Designation : |
Director |
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Address : |
24/B, New Road, Alipore, Kolkata 700027, West Bengal, India |
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Date of Birth/Age : |
23.06.1935 |
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Date of Appointment : |
02.02.1993 |
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Name : |
Mr. Chandra Mohan |
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Designation : |
Director |
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Address : |
House No. 202, Sector 36 A, Chandigarh 160036, , India |
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Date of Birth/Age : |
30.12.1932 |
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Date of Appointment : |
02.02.1993 |
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Name : |
Mr. Satyapal Wahi |
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Designation : |
Director |
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Address : |
A-16, Vasant Vihar, New Delhi 110057, Delhi, India |
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Date of Birth/Age : |
06.11.1987 |
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Date of Appointment : |
14.03.2003 |
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Name : |
Mr. Ravinder Nagpal |
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Designation : |
Director |
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Address : |
B-8/14, First Floor, Vasant Vihar, New Delhi 110057, India |
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Date of Birth/Age : |
06.04.1956 |
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Date of Appointment : |
21.11.2001 |
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Name : |
MR. Krishan Lal Chugh |
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Designation : |
Director |
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Address : |
N-79, Panchsheel Park, New Delhi 110017, Delhi, India |
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Date of Birth/Age : |
13.09.1937 |
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Date of Appointment : |
14.03.2003 |
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Name : |
Mr. Arvind Pande |
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Designation : |
Director |
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Address : |
E-148, East of Kailash, New Delhi 110065, India |
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Date of Birth/Age : |
07.09.1942 |
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Date of Appointment : |
14.03.2003 |
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Name : |
Mr. Subba Rao Telidevara |
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Designation : |
Nominee Director |
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Address : |
A 403, Adarsh Residency, 47th Cross, 8th Block,
Jayanagar, Bangalore 560082, Karnataka, India |
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Date of Birth/Age : |
10.06.1963 |
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Date of Appointment : |
29.12.2005 |
KEY EXECUTIVES
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Name : |
Mr. Bhaskara Rao Govindaraju |
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Designation : |
Secretary |
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Address : |
289, Asian Games Village, New Delhi 110049, India |
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Date of Birth/Age : |
18.03.1944 |
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Date of Appointment : |
21.10.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders (as on 31.03.2007) |
|
No. of Shares |
|
Mr. Yash Pal Vij |
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20 |
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Mrs. Monica Davar |
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880618 |
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Mr. Dharmendra Davar |
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50020 |
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Mr. Rajinder Kumar |
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20 |
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YSG Estates Private Limited |
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25000 |
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Sanjeevni Impex Private Limited |
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25000 |
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Mrs. Monica Davar |
|
2000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Foreign Holdings |
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22.87% |
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Bodies Corporate Directors or relatives of Directors |
|
8.72% |
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Directors or relatives of
Directors |
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68.41% |
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Total |
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100.00% |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Assembling of various Locking Devices, Electrical,
Electronics, Mechanical, Automobile and Industrial Parts |
PRODUCTION STATUS
|
Particulars |
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|
Unit |
Installed
Capacity |
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Locks and Switches (on single
shift basis) |
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Set |
2000000 |
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Mirror Assembly (on single shift basis) |
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Set |
6000000 |
GENERAL
INFORMATION
|
Suppliers : |
Ø A. P. Polyplast
Private Limited Ø Aggarwal Enterprises Ø Babber Plastic
and Rubber Industries Ø Gowell Rubber
Industries Ø Indo Casting and
Engineering Works Ø Kirat Plastics
Private Limited Ø Kosbros Machine
Private Limited Ø Nidhi Metal
Industries Ø Prem Engineers
Works Ø Ranoson Springs
Private Limited Ø S. R. S. Die Casting
Private Limited Ø Shri Krishna Die
Caster Ø Shree Laxmi
Udhog Private Limited Ø Supreme
Enterprises Ø Swaran
Enterprises Ø United Engineers Ø Goodwill
Enterprises Ø JMC Auto
Industries Ø Nidhi Metal
Industries Ø Packman |
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Customers : |
Ø Hero Honda
Motors Limited Ø Royal Enfield
Motors Limited Ø Escorts Tractors
Limited Ø International
Tractors Limited Ø Escorts Tractors
Limited |
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No. of Employees : |
2000 |
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Bankers : |
Ø Citi Bank Jeevan Vihar Building, 3, Sansad Marg, New
Delhi 110001, India Ø
Standard
Chartered Bank Credit Risk Control, Narain Manzil, 23, Barakhambha Road, New Delhi
110001, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Deloittee Haskins and Sells Chartered Accountants |
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Address : |
MCT House, One Okhla Centre, Block A, Okhla Institutional Area, New
Delhi 110025, India |
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Group Companies : |
Ø Sandhar
Infosystems Limited Ø Sandhar Estate
Private Limited Ø Sanjeevani Impex
Private Limited Ø Sandhar Auto
Components Limited Ø YSG Estates
Private Limited Ø Sandhar
Industries Ø SLD Auto Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
115750000 |
Equity Shares |
Rs. 2/- each |
Rs. 231.500 Millions |
|
200000 |
Preference Shares |
Rs. 2/- each |
Rs. 0.400 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18336230 |
Equity Shares |
Rs. 2/- each |
Rs. 36.672
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
36.673 |
19.176 |
19.976 |
|
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2] Share Application Money |
0.000 |
17.496 |
.0.000 |
|
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3] Reserves & Surplus |
1033.605 |
910.780 |
326.456 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1070.278 |
947.452 |
346.432 |
|
|
LOAN FUNDS |
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1] Secured Loans |
274.737 |
286.080 |
60.150 |
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2] Unsecured Loans |
114.201 |
125.409 |
9.724 |
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TOTAL BORROWING |
388.938 |
411.489 |
69.874 |
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DEFERRED TAX LIABILITIES |
84.935 |
84.153 |
23.258 |
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TOTAL |
1544.151 |
1443.094 |
439.564 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1035.790 |
921.874 |
271.152 |
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Capital work-in-progress |
73.650 |
56.424 |
0.000 |
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INVESTMENT |
90.034 |
108.228 |
31.840 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
231.516 |
122.253 |
29.420 |
|
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Sundry Debtors |
611.358 |
328.686 |
150.779 |
|
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Cash & Bank Balances |
11.292 |
13.532 |
26.934 |
|
|
Other Current Assets |
0.157 |
0.063 |
0.010 |
|
|
Loans & Advances |
222.298 |
153.143 |
65.289 |
|
Total
Current Assets |
1076.621 |
617.677 |
272.432 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
705.953 |
235.095 |
113.678 |
|
|
Provisions |
25.991 |
26.014 |
22.182 |
|
Total
Current Liabilities |
731.944 |
261.109 |
135.860 |
|
|
Net Current Assets |
344.677 |
356.568 |
136.572 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1544.151 |
1443.094 |
439.564 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
3459.132 |
1583.593 |
1040.955 |
|
|
Other Income |
86.031 |
28.634 |
7.026 |
|
|
Increase in Stock |
0.000 |
0.000 |
1.369 |
|
|
Total Income |
3545.163 |
1612.227 |
1049.350 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
250.092 |
201.151 |
183.266 |
|
|
Provision for Taxation |
0.000 |
0.000 |
68.133 |
|
|
Profit/(Loss) After Tax |
250.092 |
201.151 |
115.133 |
|
|
|
|
|
|
|
|
Export Value |
27.528 |
14.431 |
0.000 |
|
|
|
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|
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|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
2371.897 |
1038.605 |
0.000 |
|
|
Manufacturing Expenses |
0.000 |
0.000 |
745.960 |
|
|
Personal Expenses |
0.000 |
0.000 |
36.283 |
|
|
Purchases made for re-sale |
0.000 |
0.000 |
62.325 |
|
|
Consumption of stores and spares parts |
255.471 |
80.145 |
4.958 |
|
|
Increase/(Decrease) in Finished Goods |
[16.232] |
1.561 |
0.395 |
|
|
Salaries, Wages, Bonus, etc. |
276.371 |
127.341 |
0.000 |
|
|
Managerial Remuneration |
11.197 |
9.171 |
3.345 |
|
|
Payment to Auditors |
1.075 |
0.224 |
0.000 |
|
|
Interest |
28.166 |
12.520 |
0.000 |
|
|
Insurance Expenses |
3.997 |
1.588 |
0.000 |
|
|
Power & Fuel |
106.323 |
38.079 |
0.000 |
|
|
Depreciation & Amortization |
101.646 |
28.272 |
12.815 |
|
|
Other Expenditure |
182.688 |
88.001 |
0.000 |
|
Total Expenditure |
3322.599 |
1425.507 |
866.081 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total
Income |
(%) |
7.05
|
12.47 |
10.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.22
|
12.70 |
17.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.83
|
13.06 |
33.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.21 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.04
|
0.70 |
0.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
2.36 |
2.00 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
|
This Form is for |
Creation of Charge |
|
Charge identification
number of the charge to be modified |
NA |
|
Corporate
identity number of the company |
U34360DL1987PLC029553 |
|
Name of the
company |
SANDHAR
TECHNOLOGIES LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
B-6/1, Commercial Centre, Safdar Jung Enclave, New Delhi 110029 |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of
charge holder |
Standard
Chartered bank Credit Risk
Control, Narain Manzil, 23, Barakhambha Road, New Delhi 110001, India |
|
Nature of
description of the instrument creating or modifying the charge |
Unattested
Memorandum of Hypothecation |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
Interest As per Agreement [b] Terms of
Payment As per Agreement [c] Margin As per Agreement [d] Extent and
operation of the charge Extent and
operation 100% |
|
Short particulars
of the property charged |
First Pari Pasu
Charge over stock and Book debts and all Plant and machineries of the Company
both P and F other than fixed assets
which exclusively charged to Term Lenders. |
|
Date of latest
modification prior to the present modification |
NA |
|
Particulars of
the present modification |
NA |
|
Name of the
company |
SADHAR LOCKING
DEVICES LIMITED |
|
Presented By |
|
|
1) Date and description of instrument
creating the change |
Term loan agreement dated 24.11.2005 |
|
2) Amount secured by the charge/amount
owing on the securities of charge |
Rs. 70.000
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 |
First charge on
land and building situated at : Ø
3, HSIDC
Industrial Area, Delhi Gurgaon Road, Gurgaon 122015 Ø
Village,
Badshalpur, Gurgaon Ø
4, HSIDC
Industrial Area, Delhi Gurgaon Road, Gurgaon First exclusive
charge on all present and future stocks and book debts and plant and
machinery of the Company. |
|
4) Gist of the terms and conditions and
extent and operation of the charge. |
Ø
Repayable on
demand Ø
Interest at
8% p.a. Ø
Other
interest rates as per RBI mandated rates specified from time to time. |
|
5) Name and Address and description of the
person entitled to the charge. |
Citi Bank Jeevan Vihar,
Sansad Marg, New Delhi 110001, India |
|
6) Date
and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
Fixed Assets:
Ø
Building
Ø
Office Equipment
Ø
Plant and Machinery
Ø
Tools and Instruments
Ø
Furniture and Fixtures
Ø
Vehicle
Ø
Other Equipment
Ø
Electrification
WEBSITE DETAILS:
GROUP COMPANIES
Sandhar
Technologies Limited
3, HSIDC Industrial Area,
Sector 18, Delhi - Gurgaon Road, Gurgaon - 122015 (Haryana), INDIA
Ph : 91-124-2340368 / 2340572 / 2340269,
Fax : 91-124-4012845 / 4018852
Sandhar Locking
Devices
3, HSIDC Industrial Area,
Sector 18, Delhi - Gurgaon Road, Gurgaon - 122015 (Haryana), INDIA
Ph : 91-124-2340368 / 2340572 / 2340269,
Fax : 91-124-4012845 / 4018852
Sandhar Mirrors
Village Dhumaspur, P.O. Badshahpur, Gurgaon - 122101(Haryana) India.
Ph : 91-124-2361704/705,
Fax : 91-124-2340352
E- Mail : rvm@sldl.com, info@sldl.com
Rear
View Mirrors & Paint Shop
Sandhar Auto
Components
24 - 23, Sector 3, IMT Manesar, Gurgaon - 122050 (Haryana) India.
Ph : 91-124-2290411 / 2290171 / 3090388 / 3090389 ,
Fax : 91-124-2290151.
E- Mail : info@sldl.com , mktg@sldl.com
Zinc
& Aluminum Intricate PDC Components & Plastic Injection moulded
components
Sandhar Industries
Village & P.O. Khandsa, Behrampur Road, Gurgaon - 122001 (Haryana) India
Ph : 91-124-2215142 /
2215561
Fax : 91- 124-2215142.
E- Mail : sinds@sldl.com, info@sldl.com ,
mktg@sldl.com ,
Sheet
Metal and Tubular Fabricated Components & Assemblies
Sandhar Steady
Stream Tooling
Plot No. 92, Sector 3, IMT, Manesar, Gurgaon - 122050 (Haryana) India.
Ph : 91-124-2290804 /
2290816
Fax : 91-124- 2290939.
E- Mail : ssstpl@vsnl.net, ssst@dataone.in
Die
& Mould Manufacture
SLD Auto
Plot No. 8, Bommasandra - Jigani, Industrial Area, Anekal Taluk, Bangalore.
Tel : 91-80-7870840 (Factory) / 51109312 (Office)
Fax : 91-80-7835177
e-mail : info@sldl.com.
Locking
Systems & Mirror Assemblies
Adeep Locks
12-C, KIADB Industrial Area, Attibele - 562 107, Anekal Taluk, Bangalore
District, Karnataka, INDIA.
Tel : +91- 80 - 7820205 / 7820206 / 7820208/ 7820209 / 7820246
Fax : +91-80-7820347
E-mail : rohit@adeepgroup.com, sales@adeepgroup.com, marketing@adeepgroup.com
Locking Systems, Brake & Clutch Assemblies
Adeep Roloforms
Adeep Roloforms : #12-C, KIADB Industrial Area, Attibele - 562 107, Anekal
Taluk, Bangalore District, Karnataka, INDIA.
Tel : +91 80 - 7820205 / 7820206 / 7820208/ 7820209 / 7820246
Fax : +91-080-7820347 .
E-mail : sales@adeepgroup.com, marketing@adeepgroup.com
Automobile Rims & Component Plating
Agrim Automach
Agrim Automach Private Limited : No- 3 TVS indl estate,Harita, Hosur-635109,
Dharampur district, Tamilnadu.
Telefax:+91 4344 279672, 275089
Email : agrim_mgr@adeepgroup.com
Wheel
Assemblies & Handle Bar Assemblies
Sandhar
Infosystems
3, HSIDC Industrial Area, Sector 18, Delhi - Gurgaon Road, Gurgaon - 122015
(Haryana), INDIA
Ph : 91-124-4012847 / 2340572 / 2340269
Fax : 91-124-4012845 / 4018852
E- Mail : arun@sldl.com
ERP
Solutions
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 40.02 |
|
UK Pound |
1 |
Rs. 79.44 |
|
Euro |
1 |
Rs. 62.94 |
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 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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. |
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 |
|