MIRA
INFORM REPORT
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Report Date : |
03.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUYASH IMPEX PRIVATE LIMITED |
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Registered Office : |
101, Naman – 22, Dadabhai Road, Near Tahsildar Office, Andheri [West],
Mumbai – 400058, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.11.1999 |
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Com. Reg. No.: |
11-122841 |
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CIN No.: [Company
Identification No.] |
U51900MH1999PTC122841 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS45171A |
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PAN No.: [Permanent
Account No.] |
AADCS9512M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and exporter of precision turned
components, sheet metal pressed components, electromechanical sub assemblies,
automotive spares and fence fittings. |
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 14000 |
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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. Directors are reported as experienced and respectable businessmen.
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 : |
101, Naman – 22, Dadabhai Road, Near Tahsildar Office, Andheri [West],
Mumbai – 400058, Maharashtra, India |
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Tel. No.: |
91-22-28505667 |
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Mobile No.: |
91-9820079306 / 9820032396 |
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E-Mail : |
suimpex@vsnl.com |
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Website : |
http://suyash.tradeindia.com |
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Factory : |
G – 10, Zakaria Industrial Premises, Marol Maroshi Road, Andheri
[East], Mumbai – 400059, Maharashtra, India |
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Tel. No.: |
91-22-29252745 / 66910321 |
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Fax No.: |
91-22-29208162 |
DIRECTORS
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Name : |
Mr. Subhash Yeshwant Chapekar |
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Designation : |
Director |
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Address : |
101, Naman – 22, Dadabhai Road, Near Tahsildar Office, Andheri [West],
Mumbai – 400058, Maharashtra, India |
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Date of Birth/Age : |
13.01.1951 |
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Date of Appointment : |
30.11.1999 |
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Name : |
Mr. Pankaj Jaysukhlal Mehta |
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Designation : |
Director |
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Address : |
1101, Building 6/C, Damodar Park, L.B.S. Marg, Ghatkopar [West],
Mumbai – 400086, Maharashtra, India |
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Date of Birth/Age : |
02.11.1964 |
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Date of Appointment : |
01.03.2000 |
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Date of Ceasing : |
10.11.2000 |
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Name : |
Mr. Apurva Rambhai Patel |
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Designation : |
Director |
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Address : |
Tara – Smruti, 54, Vallabh Society, N. S. Road No. 2, Vile Parle
[West], Mumbai – 400056, Maharashtra, India |
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Date of Birth/Age : |
25.02.1958 |
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Date of Appointment : |
01.03.2000 |
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Date of Ceasing : |
10.11.2000 |
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Name : |
Mr. Rajendra Naraindas Lochani |
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Designation : |
Director |
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Address : |
301, Orchid, Sadguru Gardens, Thane [East], Mumbai – 400063, Maharashtra,
India |
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Date of Birth/Age : |
08.09.1965 |
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Date of Appointment : |
01.03.2000 |
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Date of Ceasing : |
10.11.2000 |
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Name : |
Mr. Jayanthi A. Gokhale |
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Designation : |
Director |
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Address : |
JN – III, Flat No. 8, Building No. 10, Sector 9, Vashi, Navi Mumbai –
400703 |
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Date of Appointment : |
01.03.2000 |
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Date of Ceasing : |
10.11.2000 |
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Name : |
Mr. Shaiwalla Y. Aliasger |
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Designation : |
Director |
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Address : |
8, St. John’s Apartments, Chruch Road, Andheri [East], Mumbai 400059,
Maharashtra, India |
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Date of Appointment : |
10.11.2000 |
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Date of Ceasing : |
01.03.2000 |
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Name : |
Mrs. Neeta Subhash Chapekar |
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Designation : |
Director |
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Address : |
101, Naman – 22, Dadabhai Road, Near Tahsildar Office, Andheri [West],
Mumbai – 400058, Maharashtra, India |
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Date of Birth/Age : |
04.05.1954 |
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Date of Appointment : |
10.11.2000 |
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Name : |
Mr. Amol Subhash Chapekar |
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Designation : |
Director |
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Address : |
101, Naman – 22, Dadabhai Road, Near Tahsildar Office, Andheri [West],
Mumbai – 400058, Maharashtra, India amol@pegasusmarkcomm.net |
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Date of Birth/Age : |
03.01.1978 |
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Date of Appointment : |
10.11.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Subhash Yeshwant Chapekar |
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7100 |
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Mrs. Neeta Subhash Chapekar |
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600 |
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Mr. Amol Subhash Chapekar |
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400 |
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Total |
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8100 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of precision turned
components, sheet metal pressed components, electromechanical sub assemblies,
automotive spares and fence fittings. |
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Products : |
·
Fence fittings ·
Precision turned components ·
Sheet metal pressed
components ·
Electromechanical sub
assemblies |
GENERAL
INFORMATION
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Bankers : |
State Bank of India, Andheri [West] Branch, Mumbai |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sailesh Gandhi and Company Chartered Accountants |
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Address : |
8/1/2, Mount View, Plot No. 8, Bhawani Nagar, Marol Maroshi Road,
Marol, Andheri [East], Mumbai – 400059, Maharashtra, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8100 |
Equity Shares |
Rs. 100/- each |
Rs. 0.810
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.810 |
0.810 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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2.595 |
2.073 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.405 |
2.883 |
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LOAN FUNDS |
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1] Secured Loans |
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5.989 |
8.403 |
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2] Unsecured Loans |
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1.465 |
1.622 |
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TOTAL BORROWING |
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7.454 |
10.025 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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10.859 |
12.908 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.708 |
2.020 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.025 |
0.025 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.256 |
0.608 |
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Sundry Debtors |
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12.728 |
12.876 |
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Cash & Bank Balances |
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0.161 |
0.456 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.735 |
2.337 |
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Total
Current Assets |
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13.880 |
16.277 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.388 |
5.111 |
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Provisions |
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0.376 |
0.315 |
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Total
Current Liabilities |
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4.764 |
5.426 |
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Net Current Assets |
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9.116 |
10.851 |
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MISCELLANEOUS EXPENSES |
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0.010 |
0.012 |
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TOTAL |
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10.859 |
12.908 |
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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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Debt Equity Ratio (Total Liability/Networth) |
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3.59 |
5.36 |
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Current Ratio (Current Asset/Current Liability) |
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2.91 |
3.00 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
SUYASH IMPEX
PRIVATE LIMITED |
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Presented By |
State Bank of
India, Andheri [West] Branch, Mumbai |
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1) Date and description of instrument creating the change |
Agreement of
Loan-Cum-Hypothecation dated 08.10.2005
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.500
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 |
All present and
future stocks, raw materials goods, book debts and vehicles and all other
movable assets of the Borrowers including receivables, documents of title to
goods, outstanding monies, bills, invoices documents contracts, insurance
policies, guarantees, engagements, securities, investments and rights and the
present machinery and all the future machinery belonging to or in the
possession or control of the Borrowers wherever lying stored and kept and
whether in possession of the borrowers or of the bank or of any third party
whether in India or elsewhere including all such goods, vehicles, other
movable assets as may be in the course of shipment, transit or delivery and
all the machinery, vehicles and other equipment items of whatever nature
acquired by the borrowers. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
ROT : As would be
determined by the Bank from time to time.
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India, Andheri [West] Branch, Mumbai |
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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 |
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.39.45 |
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UK Pound |
1 |
Rs.78.14 |
|
Euro |
1 |
Rs.58.04 |
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 |
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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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