MIRA
INFORM REPORT
|
Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SHIVA ASPHALTIC PRODUCTS PRIVATE LIMITED |
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Registered Office : |
214, M J Shopping Centre, A-3, Veer Savarkar Block, Shakarpur, New
Delhi – 110092 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.05.1989 |
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Com. Reg. No.: |
55 - 366290 |
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CIN No.: [Company
Identification No.] |
U74899DL1989PTC036290 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS09094B |
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PAN No.: [Permanent
Account No.] |
AAACS4147H |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Dealers and Processors of Bitumen, Coaltar and its allied products. |
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 35012 |
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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 satisfactory track
records. 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. |
LOCATIONS
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Registered Office : |
214, M J Shopping Centre, A-3, Veer Savarkar Block, Shakarpur, New
Delhi – 110092 |
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Tel. No.: |
91-11-22527716 / 22047717/18 |
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Fax No.: |
91-11-22457704 |
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E-mail : |
DIRECTORS
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Name : |
Mr. Bihari Lal Poddar |
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Designation : |
Director |
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Address : |
B-200 Priyadarshni Vihar, Ddelhi -110092 |
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Date of Birth/Age : |
12.02.1949 |
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Date of Appointment : |
17.05.1989 |
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Name : |
Ms. Lalita Devi Poddar |
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Designation : |
Director |
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Address : |
B-200 Priyadarshni Vihar, Ddelhi -110092 |
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Date of Birth/Age : |
09.08.1955 |
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Date of Appointment : |
01.12.1997 |
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Name : |
Mr. Vishnu Pachaury |
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Designation : |
Director |
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Address : |
301, Galaxy Plaza, A-15, Central Spine, Vidyadhar NAgar, Jaipur –
302023, Rajasthan |
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Date of Birth/Age : |
15.02.1957 |
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Date of Appointment : |
05.08.2000 |
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KEY EXECUTIVES
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Name : |
Mr. Geetanjali Narang |
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Designation : |
Secretary |
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Address : |
B-1/31, Ashok Vihar,Phase-II, Delhi-110 052 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
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Shree. Bihari Lal Poddar |
53010 |
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Shree Alok Poddar |
2000 |
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Ms. Rashmi Poddar |
11500 |
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Shree. Rahul Poddar |
4000 |
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Smt. LAlita Devi Poddar |
111000 |
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Ms. Bineta Poddar |
510 |
|
Hitech Pnematic Tools India Private Limited |
10000 |
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Shree Vikas Poddar |
10510 |
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Shree KAilash RAnga |
1500 |
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Smt. Sunita Ranga |
1500 |
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M/s Harish Kr. Choudhary and Sons (HUF) |
1500 |
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Smt. Kusum Kumari |
1500 |
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Sh. Ajit Kr. Pandey Prop. A.P. Associats |
10000 |
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M/s Dalmia Latex Limited |
30000 |
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M/s D.P. Securities Private Limited |
30000 |
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M/s Finvish Finvest Privaate Limited |
20000 |
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M/s Nisha Motor and General Finance Private Limited |
20000 |
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M/s Subhani Engg. Consultancy private limited |
30000 |
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Smt. Rakhi Poddar |
10000 |
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M/s Bihari Lal Poddar (HUF) |
135500 |
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Mr. Rajan Taneja |
25000 |
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M/s Rainbow Capital Private Limited |
37500 |
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Total |
556530 |
Equity Share Breakup
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Sr. No. |
Category |
Percentage |
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1. |
Bodies Corporate |
26.50 |
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2. |
Directors or Relatives of Directors |
73.50 |
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Total |
100 % |
BUSINESS DETAILS
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Line of Business : |
Dealers and Processors of Bitumen, Coaltar and its allied products. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
v State Bank of
Bikaner and Jaipur Connaught Circus,
New Delhi- 11001 v State Bank of
India v ICICI Bank |
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Facilities : |
--- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K S Choudhary and Company Chartered Accountant |
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Address : |
212 M J Shopping Block Shakarpur, Delhi – 110092 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs.10/- Each |
Rs.7.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
556530 |
Equity Shares |
Rs.10/- Each |
Rs.5.565 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 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.565 |
5.565 |
5.565 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.188 |
3.114 |
2.979 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.753 |
8.679 |
8.544 |
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LOAN FUNDS |
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1] Secured Loans |
1.812 |
3.604 |
2.485 |
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2] Unsecured Loans |
0.703 |
1.553 |
0.217 |
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TOTAL BORROWING |
2.515 |
5.157 |
2.702 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
11.268 |
13.836 |
11.246 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.176 |
2.511 |
2.644 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
0.000 |
4.839 |
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Sundry Debtors |
5.525 |
6.007 |
5.834 |
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Cash & Bank Balances |
0.130 |
0.323 |
0.690 |
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Other Current Assets |
8.533 |
7.580 |
0.791 |
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Loans & Advances |
0.000 |
0.000 |
0.686 |
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Total
Current Assets |
14.188 |
13.910 |
12.840 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
5.113 |
2.605 |
4.261 |
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Provisions |
0.000 |
0.000 |
0.000 |
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Total
Current Liabilities |
5.113 |
2.605 |
4.261 |
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Net Current Assets |
9.075 |
11.305 |
8.579 |
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Miscellaneous Expenses |
0.017 |
0.020 |
0.023 |
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TOTAL |
11.268 |
13.836 |
11.246 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
31.474 |
21.184 |
22.275 |
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Other Income |
0.216 |
0.418 |
0.377 |
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Total Income |
31.690 |
21.602 |
22.652 |
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Profit/(Loss) Before Tax |
0.213 |
0.247 |
0.182 |
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Provision for Taxation |
0.140 |
0.110 |
0.069 |
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Profit/(Loss) After Tax |
0.073 |
0.137 |
0.113 |
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Expenditures : |
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Depreciation & Amortization |
0.391 |
0.331 |
0.409 |
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Other Expenditure |
31.086 |
21.024 |
22.061 |
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Total Expenditure |
31.477 |
21.355 |
22.470 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.23
|
0.63 |
0.49 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.67
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1.16 |
0.81 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.50
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1.77 |
1.41 |
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Return on Investment (ROI) (PBT/Networth) |
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0.02
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0.02 |
0.02 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.87 |
0.89 |
0.49 |
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Current Ratio (Current Asset/Current Liability) |
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2.77 |
5.33 |
2.01 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Corporate identity
number (CIN) Foreign company registration number |
U74899DL1989PTC036290 |
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Name of the
Company |
SHIVA ASPHALTIC PRODUCTS PRIVATE LIMITED |
|
Address |
214, M J Shopping Centre, A-3, Veer Savarkar Block, Shakarpur, New
Delhi – 110092 |
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This form is for |
Modification of
Charge |
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Type of Charge |
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Particulars of
the charge holder |
State Bank of
Bikaner And Jaipur Connaught Circus,
New Delhi – 110001 Email ID:
gkjain1234@rediffmail.com |
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Amount secured by
the charge |
Rs.5.600 millions
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Brief of the
principal terms and conditions |
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Description of
the property charged indicating |
C] Particulars of
the property charged : All present and future goods, book debts and all other
movable assets of the borrower. |
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Charge
identification number of the charge to be modified |
80002195 |
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Brief description
of the instrument modifying the charge under section 135 |
Supplementary
hypothecation agreement for goods and assets and letter evidencing deposit of
title deeds to create extension of equitable mortgage. |
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Date of
Instrument modifying the charge |
15.04.2006 |
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Particular of the
present modification |
Limit Enhanced
from Rs. 5.600 Millions to Rs.7.600 Millions and shall be secured by 1st
charge by hyp. Of entire current assets & fixed assets of the co. and EM
of Cos land and building at Chatta (U.P.) |
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.39.39 |
|
UK Pound |
1 |
Rs.78.40 |
|
Euro |
1 |
Rs.58.73 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
|
48 |
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 |
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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 |
|
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 |
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