MIRA
INFORM REPORT
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Report Date : |
19.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHARVI TRADERS PRIVATE LIMITED |
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Registered Office : |
T – 48, New Rohtak Road, Karol Bagh, New Delhi – 110005 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.01.2006 |
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Com. Reg. No.: |
55 - 144578 |
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CIN No.: [Company
Identification No.] |
U51909DL2006PTC144578 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKS10396B |
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PAN No.: [Permanent
Account No.] |
AAJCS5488A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Kraft Paper and Paper Scrape. |
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 11356 |
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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 a well established and reputed Company having satisfactory
track. Trade relations are fair. Business is active. 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. |
INFORMATION PARTED
BY
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Name : |
Mr. Ajay Kwatra |
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Designation : |
Director |
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Contact No.: |
91-9818325786 |
LOCATIONS
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Registered Office : |
T – 48, New Rohtak Road, Karol Bagh, New Delhi – 110005, India |
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Tel. No.: |
91-129-6510116 |
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Mobile No.: |
91-9818325786 |
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Fax No.: |
91-129-2440168 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
193, Krishna Colony, Sector – 25, Faridabad, Haryana, India. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Kanwal Kwatra |
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Designation : |
Director |
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Address : |
Plot No. 193, Krishna Colony, Opp. Sector – 25, Faridabad – 121002, Haryana,
India. |
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Date of Birth/Age : |
30/09/1975 |
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Qualification : |
MBA (Finance) |
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Date of Appointment : |
09.01.2006 |
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Name : |
Mrs. Nidhi Kwatra |
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Designation : |
Director |
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Address : |
D-70, Mangalam Society, Sector – 21- D, Faridabad – 121005, Haryana,
India. |
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Date of Birth/Age : |
21/11/1977 |
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Qualification : |
P. G. D. C. |
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Date of Appointment : |
09.01.2006 |
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Name : |
Mrs. Seema Kwatra |
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Designation : |
Director |
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Address : |
D-70, Mangalam Society, Sector – 21- D, Faridabad – 121005, Haryana,
India. |
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Date of Birth/Age : |
21/11/1977 |
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Qualification : |
M.A. Economics |
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Date of Appointment : |
09.01.2006 |
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Name : |
Mr. Sandip Kwatra |
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Designation : |
Director |
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Address : |
T-48, New Rohtak Road, Karol Bagh, Delhi – 110005, India. |
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Date of Birth/Age : |
27/10/1981 |
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Qualification : |
Graduate |
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Date of Appointment : |
09.01.2006 |
KEY EXECUTIVES
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Name : |
Twinkle Vora |
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Designation : |
Company Secretary |
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Address : |
C-1/27, Safdarjung Enclave, New Delhi – 110 029, India. |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2007
|
Names of Shareholders |
No. of Shares |
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Mr. Kanwal Kwatra |
81,300 |
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Mrs. Nidhi Kwatra |
3,000 |
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Mrs. Seema Kwatra |
23,000 |
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Mr. Sandip Kwatra |
5,500 |
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Mr. Anil Kwatra |
2,000 |
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Mr. Suresh Chand Dhiman |
10,000 |
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Total |
124,800 |
Equity Share breakup (Percentage of Total Equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Kraft Paper and Paper Scrape. |
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Exports : |
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Countries : |
Not Yet Started |
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Imports : |
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Products : |
Waste Papers |
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Countries : |
v U.S. v South Africa v UAE |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
PRODUCTION STATU
GENERAL
INFORMATION
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Customers : |
v End Users v Manufacturer |
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No. of Employees : |
10 Employees |
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Bankers : |
v Oriental Bank of
Commerce, 124-125, SCO, Sector – 17, Faridabad – 121005, Haryana, India v HDFC Bank
Limited, Sector – 21, Faridabad – 121005, Haryana, India |
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Facilities : |
Rs. 7.500 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
v Dinesh Mohan and
Company, Chartered Accountants 2, TCC Colony,
Sector – 10, Faridabad – 121006, Haryana, India. 91-129-4084841 to 408483 v Mukesh
Singhal, Chartered Accountants
Delhi |
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Subsidiaries : |
v Urja
International, Himachal Pradesh Line
of Business : v Kraft Paper and
Paper Scrape. v Sharvi Papers Line
of Business : v Kraft Paper and Paper
Scrape. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 2.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
124,800 |
Equity Shares |
Rs. 10/-
Each |
Rs. 1.248
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.248 |
0.100 |
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2] Share Application Money |
0.000 |
0.778 |
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3] Reserves & Surplus |
1.591 |
0.002 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
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NETWORTH |
2.839 |
0.880 |
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LOAN FUNDS |
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1] Secured Loans |
4.217 |
0.206 |
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2] Unsecured Loans |
0.846 |
1.096 |
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TOTAL BORROWING |
5.063 |
1.302 |
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DEFERRED TAX LIABILITIES |
0.012 |
0.000 |
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TOTAL |
7.914 |
2.182 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.587 |
0.422 |
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Capital work-in-progress |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.003 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.337
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0.126 |
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Sundry Debtors |
26.697
|
9.447 |
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Cash & Bank Balances |
0.053
|
1.257 |
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Other Current Assets |
1.681
|
0.117 |
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Loans & Advances |
0.027
|
0.017 |
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Total
Current Assets |
28.795
|
10.964 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
21.511
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9.211 |
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Provisions |
0.000
|
0.007 |
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Total
Current Liabilities |
21.511
|
9.218 |
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Net Current Assets |
7.284
|
1.746 |
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MISCELLANEOUS EXPENSES |
0.043 |
0.011 |
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TOTAL |
7.914 |
2.182 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
51.965 |
1.458 |
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Other Income |
0.776 |
0.146 |
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Total Income |
52.741 |
1.604 |
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Profit/(Loss) Before Tax |
0.805 |
0.008 |
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Provision for Taxation |
0.296 |
0.006 |
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Profit/(Loss) After Tax |
0.509 |
0.002 |
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Expenditures : |
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Cost of Goods Sold |
50.145 |
1.248 |
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Administrative Expenses |
0.850 |
0.153 |
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Personal Expenses |
0.859 |
0.181 |
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Financial Charges |
0.042 |
0.006 |
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Depreciation & Amortization |
0.040 |
0.008 |
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Total Expenditure |
51.936 |
1.596 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.96
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0.12 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.55
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0.55 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.53
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0.50 |
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Return on Investment (ROI) (PBT/Networth) |
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0.28
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0.91 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.58
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12.46 |
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Current Ratio (Current Asset/Current Liability) |
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1.34
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1.19 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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This form is for |
Creation of charge |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U51909DL2006PTC144578 |
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Name of the company |
SHARVI TRADERS PRIVATE LIMITED |
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Address |
T – 48, New Rohtak Road, Karol Bagh, New Delhi – 110005, India |
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Type of Charges |
v Book Debts v Others |
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Whether consortium finance is involved |
No |
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Whether joint charge involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
Name : Oriental Bank of Commerce Address : 124-125, SCO, Sector – 17 City : Faridabad State : Haryana ISO Country Code : IN Pin Code : 121001 e-mail ID : amitag1975@rediffmail.com |
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Nature or description of the instrument creating or modifying the charge |
Agreement of Hypothecation of Assets (Loan DOC-1) Commission Agreement (DOC. 38) |
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Date of the instrument creating charge |
26/02/2007 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 5.000 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
(a) Rate of Interest Interest – 12.50% p.a. Calculated on the daily Balances and Charged on Monthly Rest. Penal Interest @2% p.a. Over and above the normal rate in case of default. (b)Terms of repayment The payment will be made on the discretion of the Bank as and when the Bank in writing intimate to the Borrower regarding their dues. (c) Margin Stock -25% Book Debts-40% (d) Extent and operation of the charge The Borrower has agreed to provide security to the Bank for the due repayment of moneys advanced to the borrower by the bank and all the cost charges, Expenses and other moneys due and payable by the borrower pursuant to the said credit facilities. |
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Short particulars of the Property charged |
Stock of Raw Materials, Semi Finished Goods, Consumable Stores and Spares, Book Debts etc. |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
Trade References:
v Khemca Containers Limited, Faridabad , Haryana, India
v Dev Priya Industry Limited, Meerut, Uttar Pradesh, India
v Parijat Paper Mills Limited, Muzafar Nagar, Uttar Pradesh, West, India
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 :
The 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.
The 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. 39.96 |
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UK Pound |
1 |
Rs. 78.66 |
|
Euro |
1 |
Rs. 63.31 |
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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
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
|
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|