MIRA INFORM REPORT

 

 

 

Report Date :

25.07.2008

 

IDENTIFICATION DETAILS

 

Name :

SACHIN ELECTRICALS PRIVATE LIMITED

 

 

Registered Office :

2109-C06, 2nd Floor, Shanti Market, Bhagirath Palace, Delhi-110 006.

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

04.08.2006

 

 

Com. Reg. No.:

151629

 

 

CIN No.:

[Company Identification No.]

U31108DL2006PTC151629

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELS31257C

 

 

PAN No.:

[Permanent Account No.]

AAKCS1319M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Supplier, Installation, Testing and Commissioning of Electrical Projects.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 25000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established company having satisfactory track records.

 

Trade relations are fair. Financial position is satisfactory. Payments are usually correct and as per commitments.

 

The Company can be considered good for normal business dealings at usual trade terms and conditions.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Prabhat Kumar

Designation :

Director

Contact No.:

91-9312677957

Date :

15.07.2008

 

 

LOCATIONS

 

Registered Office :

2109-C06, 2nd Floor, Shanti Market, Bhagirath Palace, Delhi-110 006, India

Tel. No.:

91-120-4152568/ 4152577

Mobile No.:

91-9312677957 / 9811799771/ 9310118564

E-Mail :

vinbhushan@gamil.com

Website :

http://www.sachinelectricals.com

Area :

99 sq mt

Location :

Owned

 

 

Corporate Office :

2B-536, Vasundhara Sahibabad, Ghaziabad-201 012, Uttar Pradesh, India

Tel. No.:

91-120-4152568/ 4152577/ 3260258/ 3266626/ 2897289

Fax No.:

91-120-4152578/ 2897288

Mobile No.:

91-9312677957 / 9811799771/ 9310118564

E-Mail :

sepll@engineer.com

sachin_electricals@yahoo.co.in

Website :

http://www.indiamart.com/.sachinelectricals

 

 

Branch Office :

NTPC Compuse, Parhstepp, 3660 MW, Bar Power Project, Patna Bihar, India

Location :

Owned

 

DIRECTORS

 

Name :

Mr. Pramod Kumar

Designation :

Director

Address :

B-85, Ground Floor, J. P. Garden, Paradise Parsvnath, Mohan Nagar, Ghaziabad-201 010, Uttar Pradesh, India

Date of Birth/Age :

17.07.1975

Qualification :

B.Sc

Mobile No. :

91-9312677957

Date of Appointment :

04.08.2006

 

 

Name :

Mr. Prabhat Kumar

Designation :

Directors

Address :

D-107, Shyam Park Extension, Sahibabad, Ghaziabad-201010, Uttar Pradesh, India

Date of Birth/Age :

08.07.1972

Qualification :

M.B.A

Date of Appointment :

04.08.2006

 

 

Name :

Mrs. Santosh Devi

Designation :

Director

Address :

B-85, Ground Floor, J. P. Garden, Paradise Parsvnath, Mohan Nagar, Ghaziabad-201 010, Uttar Pradesh, India

Date of Birth/Age :

10.07.1975

Date of Appointment :

04.03.2008

 

 

Name :

Mr. Narinder Sharma

Designation :

Director

Date of Birth/Age :

08.09.1970

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Supplier, Installation, Testing and Commissioning of Electrical Projects.

 

 

Products :
  • Substain Installation (Upto 66 KV)
  • Overhead HT/ LT Transmission Lines Installation
  • Internal/ External Wiring
  • Internal / External Lighting
  • Communication Systems
  • Fire Protection Systems
  • HT and LT  Cable Laying
  • LT Distribution Systems

 

 

Terms :

 

Selling :

Cash and Credit (Depend on Project)

 

GENERAL INFORMATION

 

No. of Employees :

121 (Office 100, Factory 21)

 

 

Bankers :

·       Oriental Bank of Commerce SSI Branch, Site-IV, Industrial Area, Sahibabad Ghaziabad-201001, Uttar Pradesh, India

·       Citi Bank

·       ICICI Bank

·       Standard Chartered Bank

·       ABN Amro

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Rajeev Pankaj and Company

Chartered Accountants

Address :

21, LGF, Durga Chambers, RDC, Raj Nagar, Ghaziabad-201 001, Uttar Pradesh, India

 

 

CAPITAL STRUCTURE

 

As on 02.02.2008

Authorised Capital :

No. of Shares

Type

Value

Amount

250000

Equity Shares

Rs. 10/- each

Rs. 2.500 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

90000

Equity Shares

Rs. 10/- each

Rs. 0.900 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

 

31.03.2007

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

0.900

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

4.190

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

5.090

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

1.818

2] Unsecured Loans

 

 

2.058

TOTAL BORROWING

 

 

3.876

DEFERRED TAX LIABILITIES

 

 

0.015

 

 

 

 

TOTAL

 

 

8.981

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

4.942

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

0.000

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

 

1.876

 

Sundry Debtors
 

 

10.269

 

Cash & Bank Balances
 

 

0.185

 

Other Current Assets
 

 

0.000

 

Loans & Advances
 

 

1.077

Total Current Assets
 

 

13.407

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

 

9.398

 

Provisions
 

 

0.000

Total Current Liabilities
 

 

9.398

Net Current Assets
 

 

4.009

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.030

 

 

 

 

TOTAL

 

 

8.981

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

 

31.03.2007

Sales Turnover

 

 

35.526

Other Income

 

 

0.000

Total Income

 

 

35.526

 

 

 

 

Profit/(Loss) Before Tax

 

 

0.991

Provision for Taxation

 

 

0.068

Profit/(Loss) After Tax

 

 

0.923

 

 

 

 

Total Expenditure

 

 

34.535

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2007

PAT / Total Income

(%)
 

 

2.60

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

 

2.79

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

 

5.40

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

 

0.19

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

 

2.61

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

1.43

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

The Registered Office of the Company has been shifted from 2190-C06 Chahindra, 2nd Floor, Shanti Market, Bhagirath Palace, New Delhi-110006, India to present address w.e.f.  01.11.2006

 

Trade References:

 

 

 

 

 

 

FORM 8

 

Bankers Charges Report as per Registry

 

 

This form is for

Creation of charge

Corporate identity number of the company

U31108DL2006PTC151629

Name of the company

SACHIN ELECTRICALS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

2109-C06, 2nd Floor, Shanti Market, Bhagirath Palace, Delhi-110006, India

Type of charge

Book Debts

Movable Property

Particular of charge holder

Oriental Bank of Commerce SSI Branch, Site-IV, Industrial Area, Sahibabad, Ghaziabad-201001, Uttar Pradesh, India

Nature of description of the instrument creating or modifying the charge

Agreement of Hypothecation of Assets (DOC -1) Dated 06.09.2007

Agreement of Counter Guarantee (DOC -12) Dated 06.09.2007

Date of instrument Creating the charge

06.09.2007

Amount secured by the charge

Rs. 5.000 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

  • The Rate of Interest shall be chargeable as per HO/RBI guidelines from time to time. Presently the same is @ 13.25% p.a. with monthly rests.
  • The Cash Credit (Hypothecation of Stocks and Book Debts) Limit or Rs. 4.000 Millions and Bank Guarantee Limit of Rs. 1.000 Million total agreegate Rs. 5.000 Millions shall also be secured by the entire fixed/ block/ current/ fixed assets of the company including trade receivables of the company.
  • Loan Renewaaly annuly and payable on demand.

 

Terms of Repayment

Loan Renewally annuly and payable on demand.

 

Margin

25% Against Stockks

40% Against Book Debts

 

Extent and Operation of the charge

100%

Short particulars of the property charged
  • Hypothecation of Raw Material, Stock in Process, Finished Goods, Semi Finished Goods, store and spares and consumable and receivables.
  • Cheques, Drafts, Cleanor Documentary Bills which may be lodged with time to under the said limit Documentary bills accompanied title to goods receipted / Chgallans/ hudies/ covering consignments etc.

 

 

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.41.96

UK Pound

1

Rs.83.78

Euro

1

Rs.65.82

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

46

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions