MIRA
INFORM REPORT
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Report Date : |
02.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAHASHAKTI ENTERPRISES PRIVATE LIMITED |
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Registered Office : |
4-3-101, Devideenbhagh, Hanuman Tekdi, Hyderabad-500195, Andhra
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
25.06.1996 |
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Com. Reg. No.: |
01-24415 |
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CIN No.: [Company
Identification No.] |
U51395AP1996PTC024415 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDM01110E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on all kinds of agency business including that of clearing
agents, freight contractors, steamer, agents, forwarding agents, licensing
agents and general brokers. |
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 150000 |
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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 meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
4-3-101, Devideenbhagh, Hanuman Tekdi, Hyderabad-500195, Andhra
Pradesh, India |
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Tel. No.: |
91-40-24752610 |
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Fax No.: |
91-40-24752654 |
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E-Mail : |
DIRECTORS
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Name : |
Mrs. Shobha Varma |
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Designation : |
Director |
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Address : |
4-3-107, Devideen Bagh, Hanuman Tekdi, Hyderabad-500195, Andhra
Pradesh, India |
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Date of Birth/Age : |
26.06.1943 |
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Date of Appointment : |
25.06.1996 |
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Name : |
Mr. Dinesh Lakhamshi Dedhia |
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Designation : |
Director |
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Address : |
4-3-108/5, Hanuman Tekdi, Devideen Bagh, Hyderabad-500195, Andhra
Pradesh, India |
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Date of Birth/Age : |
02.06.1958 |
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Date of Appointment : |
25.06.1996 |
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Name : |
Mr. Rajeev Varma |
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Designation : |
Director |
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Address : |
4-3-108/5, Hanuman Tekdi, Devideen Bagh, Hyderabad-500195, Andhra
Pradesh, India |
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Date of Birth/Age : |
21.04.1966 |
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Date of Appointment : |
25.06.1996 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Rajiv Varma |
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18500 |
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Sushma Varma |
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161278 |
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Sanjeev Varma |
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10000 |
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P.K. Varma |
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12000 |
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Shobha Varma |
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12000 |
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Total |
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213778 |
Equity share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
To carry on all kinds of agency business including that of clearing
agents, freight contractors, steamer, agents, forwarding agents, licensing
agents and general brokers. |
GENERAL
INFORMATION
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Bankers : |
Union Bank of India, Ramkote Branch, Ramkote, Hyderabad-500001, Andhra
Pradesh, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Srirama Murthy and Company Chartered Accountant |
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Address : |
NI. 1-1-298/A/1/B, Road No. 1, Ashok Nagar, Hyderabad-500020, Andhra
Pradesh, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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750000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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453578 |
Equity Shares |
Rs. 10/-
each |
Rs. 4.535
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 |
2.398 |
2.398 |
2.398 |
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2] Share Application Money |
2.138 |
2.138 |
2.138 |
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3] Reserves & Surplus |
25.622 |
14.866 |
5.906 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
30.158 |
19.402 |
10.442 |
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LOAN FUNDS |
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1] Secured Loans |
38.035 |
26.863 |
23.438 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
38.035 |
26.863 |
23.438 |
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DEFERRED TAX LIABILITIES |
0.538 |
0.472 |
0.490 |
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TOTAL |
68.731 |
46.737 |
34.370 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.149 |
2.922 |
2.783 |
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Capital work-in-progress |
5.668 |
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 |
11.529
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13.554 |
7.326 |
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Sundry Debtors |
28.634
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27.250 |
19.550 |
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Cash & Bank Balances |
3.711
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17.710 |
2.030 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
28.137
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4.847 |
14.871 |
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Total
Current Assets |
72.011
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63.361 |
43.777 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.081
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14.826 |
12.193 |
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Provisions |
7.016
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4.721 |
0.000 |
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Total
Current Liabilities |
13.097
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19.547 |
12.193 |
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Net Current Assets |
58.914
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43.814 |
31.584 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.001 |
0.003 |
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TOTAL |
68.731 |
46.737 |
34.370 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.69
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2.39 |
3.41 |
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Current Ratio (Current Asset/Current Liability) |
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5.49
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3.24 |
3.59 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
MAHASHAKTI ENTERPRISES PRIVATE LIMITED |
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Presented By |
Mr. Rajiv Varma,
Director |
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1) Date and description of instrument creating the change |
Agreement for CC
and hypothecation of goods and book debts and assets dated 01.02.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit of
Rs. 15.000 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 |
Hypothecation of
Home and Kitchen appliances of companies like Kenstar, Ramson, Elite, Milton
etc. Stored in or to be stored in borrower godown. Or premises at 4.03.101 to
106, Dividee bagh, Hanumantekdi, Hyderabad Hypothecation of
goods present and future book debts, outstanding receivables claims by way of
first charge. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin 25%,
Interest 4% over and above PLR subject to a minimum of 12% with quarterly
rests. Penal Interest
16.32% p.a. shall be charged on overdue component in case o default repayable
on demand. Pena Interest @2% extra p.a. shall be charged on overdue component
in case of default repayable on demand. |
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5) Name and Address and description of the person entitled to the charge. |
UBI Ramakote Branch,
Hyderabad |
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6) Date and brief description of instrument modifying the charge |
20.12.2005
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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. |
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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90118950 |
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Corporate
identity number of the company |
U51395AP1996PTC024415 |
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Name of the
company |
MAHASHAKTI ENTERPRISES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
4-3-101, Devideenbhagh, Hanuman Tekdi, Hyderabad-500195, Andhra
Pradesh, India |
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Type of charge |
Book Debts Movable Property Immovable
Property |
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Particular of
charge holder |
Union Bank of India, Ramkote Branch, Ramkote, Hyderabad-500001, Andhra
Pradesh, India |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
17.04.2007 |
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Amount secured by
the charge |
Rs. 61.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 12.50% p.a. Terms of
Repayment As per the Principal
Hypothecation Agreement Margin N.A Extent and
Operation of the charge To the Extent of
Property Charged |
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Short particulars
of the property charged |
Goods, Book Debts
and Movable property covered by the principle hypothecation agreement. |
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Date of latest
modification prior to the present modification |
18.11.2004 |
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Particulars of
the present modification |
Overall limits
enhanced from Rs. 46.000 Millions to Rs. 61.000 Millions |
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 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.43.34 |
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UK Pound |
1 |
Rs.86.53 |
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Euro |
1 |
Rs.68.54 |
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 |
7 |
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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 |
6 |
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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 |
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49 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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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