MIRA
INFORM REPORT
|
Report Date : |
18.02.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
STRAWBERRY STUDIO EXPORTS PRIVATE LIMITED |
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Registered Office : |
D – 3, Narmada Apartment, Salak Nanda, New Delhi 110 019 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
07.04.2000 |
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Com. Reg. No.: |
55-105116 |
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CIN No.: [Company
Identification No.] |
U74999DL2000PTC105116 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS18957B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Knitted and Woven Garments and Made Ups. |
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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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. |
LOCATIONS
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Registered Office/ Head Office : |
D – 3, Narmada Apartment, Salak Nanda, New Delhi 110 019, India |
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Tel. No.: |
91-11-26475835/ 26071568 / 26071569 |
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Fax No.: |
91-11-26071795/ 5319911 |
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E-Mail : |
strawberrystudio@mantraonline.com , resourceaccounts@yahoo.com |
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Area : |
1200 sq. fts. |
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Location : |
Rented |
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Factory 1 : |
B-47, Sector –60, Noida, District
Gautam Budh Nagar -201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-2588374/ 375/ 376 |
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Area : |
6500 Sq. fts. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Atul A. K. Ruparelia |
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Designation : |
Director |
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Address : |
D – 3, Narmada Apartment, Salak Nanda, New Delhi 110 019, India |
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Date of Birth/Age : |
12.03.1951 |
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Date of Appointment : |
07.12.2006 |
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Name : |
Mr. Hemant A. K. Ruparelia |
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Designation : |
Director |
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Address : |
D – 3, Narmada Apartment, Salak Nanda, New Delhi 110 019, India |
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Date of Birth/Age : |
20.12.1975 |
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Date of Appointment : |
06.11.2000 |
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Name : |
Mr. Hiren A. K. Ruparelia |
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Designation : |
Director |
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Address : |
D – 3, Narmada Apartment, Salak Nanda, New Delhi 110 019, India |
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Date of Appointment : |
06.11.2000 |
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Name : |
Ms. Chitra Trikha |
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Designation : |
Director |
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Address : |
D – 3, Narmada Apartment, Salak Nanda, New Delhi 110 019, India |
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Date of Birth/Age : |
23.06.1961 |
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Date of Appointment : |
06.11.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Atul A. K. Ruparelia |
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834400 |
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Mr. Hemant A. K. Ruparelia |
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119200 |
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Mr. Hiren A. K. Ruparelia |
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119200 |
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Ms. Chitra Trikha |
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119200 |
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Names of Shareholders |
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Percentage of
Holding |
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Directors or Relatives of Directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Knitted and Woven Garments and Made Ups. |
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Products : |
* Knitted and
Woven Garments * Made Ups |
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Exports : |
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Products : |
All products |
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Countries : |
U.K. |
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Imports : |
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Products : |
Raw
materials |
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Countries : |
Hong Kong and
Singapore |
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GENERAL INFORMATION
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Suppliers : |
* Maestro Fashion, India * Bombay Dyeing and Manufacturing Company Limited, India * Swastik Enterprises, India * Kartik Enterprises, India *
Impetus Impex Private Limited, India |
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Customers : |
* Wholesalers |
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No. of Employees : |
Around 190 |
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Bankers : |
* State Bank of
India, NEPZ, Noida 201 301, Uttar Pradesh, India * Canara Bank,
C-3, Sector - 1, Noida - 201301,
Uttar Pradesh, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Neeraj Arora Chartered Accountants |
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Address : |
23/3, Old Rajinder Nagar, New Delhi
110 060, India |
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Associates : |
* Maestro Fashions - Manufacturing and exporting of woven and knitting garments * Tulna Exports - Manufacturing and exporting of readymade garments. *
Resource International - Buying office |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 millions |
As
on 31.03.2006
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1270000 |
Equity Shares |
Rs. 10/- each |
Rs. 12.700 millions |
As on 31.03.2005
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1130000 |
Equity Shares |
Rs. 10/- each |
Rs. 11.300 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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11.300 |
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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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27.317 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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38.617 |
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LOAN FUNDS |
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1] Secured Loans |
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53.195 |
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2] Unsecured Loans |
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3.150 |
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TOTAL BORROWING |
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56.345 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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94.962 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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65.380 |
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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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Sundry Debtors |
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Cash & Bank Balances |
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Other Current Assets |
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Loans & Advances |
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29.577 |
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Total
Current Assets |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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Total
Current Liabilities |
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Net Current Assets |
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29.577 |
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MISCELLANEOUS EXPENSES |
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0.005 |
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TOTAL |
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94.962 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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100.897 |
62.449 |
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Other Income |
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5.157 |
9.590 |
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Total Income |
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106.054 |
72.039 |
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Profit/(Loss) Before Tax |
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6.518 |
6.072 |
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Provision for Taxation |
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2.636 |
2.222 |
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Profit/(Loss) After Tax |
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3.882 |
3.850 |
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Earnings in Foreign Currency : |
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Export Earnings |
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100.897 |
NA |
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Commission Earnings |
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NA |
NA |
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Other Earnings |
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NA |
NA |
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Total Earnings |
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100.897 |
NA |
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Expenditures : |
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Manufacturing Expenses |
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59.857 |
41.616 |
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Selling Expenses |
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10.141 |
8.310 |
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Salaries, Wages, Bonus, etc. |
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5.215 |
5.145 |
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Financial Charges |
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9.086 |
3.190 |
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Depreciation & Amortization |
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7.251 |
1.429 |
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Other Expenditure |
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7.721 |
6.277 |
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Total Expenditure |
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99.271 |
65.967 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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3.66 |
5.34 |
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Net Profit Margin (PBT/Sales) |
(%) |
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6.14 |
8.43 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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-- |
6.25 |
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Return on Investment (ROI) (PBT/Networth) |
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-- |
0.15 |
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Debt Equity Ratio (Total Liability/Networth) |
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-- |
2.51 |
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-- |
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Current Ratio (Current Asset/Current Liability) |
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NA |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
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Name of the company |
STRAWBERRY STUDIO EXPORTS PRIVATE LIMITED |
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Presented By |
State Bank of India, NEPZ, Noida, Uttar Pradesh, India |
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1) Date and description of instrument creating the change |
Letter regarding the grant of individual limit within the overall limit dated 22.12.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Term Loan of Rs. 59.000 millions. |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Primary Security: First charge on all the fixed assets proposed to be financed by the Bank including Equitable Mortgage of proposed Factory Land and Building situated at 38, Block – A, Industrial Area, Sector 64, Noida, admeasuring 3440 sq. meters. Collateral Security: Second charge on all the current assets of the company both present and future Equitable mortgage of industrial land and building situated at B 47, Sector 60 Noida, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest: Strategic pricing as applicatble to SBTL-1 rated advance i.e. 1.25% above SBAR (effective rate 11.50%) p.a. with monthly rest subject to change from time to time. Repayment: The terms loan is to be repaid in 20 quarterly installments of Rs. 2.950 millions each commencing from 31.12.2005 |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India, NEPZ, Noida, Uttar Pradesh, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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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 |
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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 |
U74999DL2000PTC105116 |
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Name of the company |
STRAWBERRY STUDIO EXPORTS PRIVATE LIMITED |
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Address |
D – 3, Narmada Apartment, Salak Nanda, New Delhi 110 019, India |
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Type of Charges |
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 |
State Bank of India NEPZ, Phase II, Noida 201 305, Uttar Pradesh, India |
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Nature or description of the instrument creating or modifying the charge |
Guarantee Agreement |
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Date of the instrument creating charge |
05.05.2007 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs.
7.100 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: as per the loan agreement executed and or as advised by the bank if the borrower. Terms of repayment: as per the loan agreement executed and or as advised by the bank if the borrower. Margin: as per the loan agreement executed and or as advised by the bank if the borrower. Extent and operation of the charge: the company has undertaken a Corporate Guarantee to secure the repayment of credit facility aggregating to Rs. 7.100 millions granted by the bank to Mr. Atul A Ruparelia |
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Short particulars of the Property charged |
The company has undertaken a Corporate Guarantee to secure the repayment of credit facility aggregating to Rs. 7.100 millions granted by the bank to Mr. Atul A Ruparelia |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
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.39.98 |
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UK Pound |
1 |
Rs.78.57 |
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Euro |
1 |
Rs.59.20 |
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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
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, we have no basis upon which to
recommend credit dealings |
No Rating |
|