MIRA
INFORM REPORT
|
Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SAVIO TEXCONE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
D -131, Shankar Road, New Rajindar Nagar, New Delhi – 110 060 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
19.05.1995 |
|
|
|
|
Com. Reg. No.: |
55-68787 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1995PTC068787 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELS20456C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACS9709D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and
Exporter of Paper Tube and Paper Cones |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 26000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
The company has moderate track record of performance and financial
status. It’s payments are reported as slow. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Pawan Sharma |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9412220299 |
|
Date : |
06.06.2008 |
LOCATIONS
|
Registered Office : |
D -131, Shankar Road, New Rajindar Nagar, New Delhi – 110 060, India |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Jayco House, Kishan Ganj, Hapur- 245 101, Uttar Pradesh, India |
|
Tel. No.: |
91-122-2309034 |
|
Mobile No.: |
91-9897584286 |
|
Fax No.: |
91-122-2333412 |
|
E-Mail : |
|
|
Area : |
6000 Sq.fts |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Bhupender Agarwal |
|
Designation : |
Director |
|
Address : |
44 Kali Wala Sadan, Kidshna Ganj, Garh Road, Hapur – 245101, Uttar
Pradesh, India |
|
Date of Birth/Age : |
27.08.1968 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
29.09.1995 |
|
E-Mail : |
|
|
|
|
|
Name : |
Mr. Ashok Chharia |
|
Designation : |
Managing Director |
|
Address : |
1 Shree Jee Niwas, Tara Mill colony, Railway Road, Hapur – 245 101,
Uttar Pradesh, India |
|
Date of Birth/Age : |
19.04.1958 |
|
Qualification: |
Textile Engineer |
|
Date of Appointment : |
19.05.1995 |
|
E-Mail: |
|
|
|
|
|
Name : |
Mrs. Sadhna Chharia |
|
Designation : |
Director |
|
Address : |
1 Shree Jee Niwas, Tara Mill colony, Railway Road, Hapur – 245 101,
Uttar Pradesh, India |
|
Date of Birth/Age : |
13.10.1959 |
|
Date of Appointment : |
19.05.1995 |
|
E-Mail: |
|
|
|
|
|
Name : |
Mr. Ajay Chharia |
|
Designation : |
Director |
|
Address : |
2605 Hudson Line Kingsway Camp, Delhi – 110 009, India |
|
Date of Birth/Age : |
20.07.1960 |
|
Date of Appointment : |
01.01.1997 |
|
E-mail: |
KEY EXECUTIVES
|
Name : |
M/s Ajay Kumar Associates |
|
Designation : |
Company Secretary |
|
Address : |
128/D-11, Sector – 8, Rohini, New Delhi – 110 085, India |
|
Tel No.: |
91-11-32972870 |
|
Mobile No.: |
91-9810558120 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders (As on 27.09.2005):- |
|
No. of Shares |
|
Mr. Ashok Kumar |
|
54900 |
|
Mrs. Sadhana Chharia |
|
51030 |
|
Mr. Bhupender Kumar Aggarwal |
|
26870 |
|
Mr. Ritu Aggarwal |
|
37100 |
|
Care Fincap Private Limited |
|
5000 |
|
Anirudh Investments and leasing Private Limited |
|
15000 |
|
Vision Securities Limited |
|
35000 |
|
Mr. Manoj Kumar |
|
8500 |
|
Mr. Pawan Sharma |
|
6000 |
|
Mr. Ashok Kumar Chhariqa on behalf of Ashok Kumar
Chharia HUF |
|
30000 |
|
Others |
|
100 |
|
Total |
|
269500 |
Equity Shares Breakup (Percentage of Total Equity): as on 31.03.2007:-
|
Sr No. |
Category |
Percentage |
|
1 |
Bodies Corporate |
16.00 |
|
2 |
Directors or relative of directors |
84.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Paper Cones. |
|
|
|
|
Products: |
|
|
|
|
|
Exports : |
|
|
Countries : |
UK, Belgium, USA |
|
|
|
|
Terms : |
|
|
Selling : |
CAD |
|
|
|
|
Purchasing : |
DP |
GENERAL
INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
10 |
|
|
|
|
Bankers : |
· Bank of Baroda, Triveni Ganj, Hapur- 245 101, Uttar Pradesh, India · ICICI Bank · HDFC Bank |
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Vipin Om and Associates Chartered Accountants |
|
Address : |
34 Navyug Market, Ghaziabad – 201 001, Uttar Pradesh, India |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on
31.03.2007):-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
353500 |
Equity Shares |
Rs. 10/- each |
Rs. 3.535
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.535 |
2.695 |
2.695 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.583 |
1.406 |
1.167 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5.118 |
4.101 |
3.862 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.662 |
6.757 |
7.196 |
|
|
2] Unsecured Loans |
3.852 |
2.746 |
2.399 |
|
|
TOTAL BORROWING |
11.514 |
9.503 |
9.595 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16.632 |
13.604 |
13.457 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8.431 |
8.024 |
6.437 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.800
|
3.517 |
3.276 |
|
|
Sundry Debtors |
11.788
|
10.975 |
10.757 |
|
|
Cash & Bank Balances |
1.740
|
1.015 |
0.244 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.278
|
0.770 |
1.098 |
|
Total
Current Assets |
18.606
|
16.277 |
15.375 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
9.245
|
8.759 |
8.355 |
|
|
Provisions |
1.160
|
1.938 |
0.000 |
|
Total
Current Liabilities |
10.405
|
10.697 |
8.355 |
|
|
Net Current Assets |
8.201
|
5.580 |
7.020 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16.632 |
13.604 |
13.457 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
72.452 |
69.258 |
63.604 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
72.452 |
69.258 |
63.604 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.454 |
0.525 |
0.460 |
|
|
Provision for Taxation |
0.277 |
0.182 |
0.000 |
|
|
Profit/(Loss) After Tax |
0.177 |
0.343 |
0.460 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
1.106 |
0.913 |
0.732 |
|
|
Other Expenditure |
70.892 |
67.820 |
62.412 |
|
Total Expenditure |
71.998 |
68.733 |
63.144 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.24
|
0.50 |
0.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.63
|
0.76 |
0.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.68
|
2.16 |
2.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.13 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.29
|
4.93 |
4.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.79
|
1.52 |
1.84 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL
ACCEPTANCE CHART:-
|
PARAMETER |
DETAIL |
|
|
|
|
Statutory
Approval |
|
|
VAT / TIN Registration |
09689300528 |
|
Import Export Code |
0596057750 |
|
Name of Bank |
Bank of Baroda |
|
Account Since |
1995 |
|
Emp PF Reg Number |
UP/22217 |
|
|
|
|
Credibility
Factors |
|
|
India Mart Client Since |
1996 |
|
Years of Establishment |
1995 |
|
|
|
|
Trade
Affiliations |
|
|
SSI Registration |
Yes - (090071200461) |
|
Export Promotion Council |
Yes Uttar Pradesh- EPB/UPG/MFG/09/07/02 |
|
Chambers of commerce Membership |
Uttar Pradesh |
|
D & B D-U-N-S Number |
86-218-2706 |
|
Government Recognized Export House Status |
No |
|
|
|
|
Standard and
certifications |
|
|
Quality Management Systems |
ISO : 9000 :12000 |
TRADE REFERNECES:
· Sport King Synthetic, Ludhiana, Punjab
FORM 8:-
|
Name of the
company |
SAVIO TEXCONE
PRIVATE LIMITED |
|
Presented By |
Mr. Ashok Kumar Chharia |
|
1) Date and
description of instrument creating the change |
20.02.2004 Hypothecation of
book debts |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 4.350
millions |
|
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 |
Book Debts, Land and Building, of the company at the village Dheekeda
Meerut |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
STPL –II, +1% presently @ 11.75% Margin 30% payable on demand |
|
5) Name and
Address and description of the person entitled to the charge. |
Bank of Baroda, Branch Hapur, Uttar Pradesh, India |
|
6) Date and brief description of instrument
modifying the charge |
NA |
|
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 |
|
Corporation identity number or foreign company registrations number of
the company |
U74899DL1995PTC068787 |
|
Name of the company |
SAVIO TEXCONE
PRIVATE LIMITED |
|
Address |
|
|
This Form is for |
Creation of charge |
|
Type of Charges |
· Immovable Property · Book Debts · Movable Property |
|
Particular of the charge holder
|
Bank Of Baroda, Triveni Ganj, Hapur, - 245001, Uttar Pradesh, India E-mail: hapur@bankofbaroda.com
|
|
Nature or description of the instrument creating charge |
08.09.2007 |
|
Date of the instrument creating charge |
Rs. 10.875 millions |
|
Amount Secure by the charge |
Rate of Interest : 12.25% i.e. 1% below BPLR Terms of repayment: Renewable after one year Margin: 25% on stock 45% on book debts Extent and operation of the charge: To the property charged as security. |
|
Short Particulars of the Property charged |
Hypothecation of stock of raw material good in process , finished
goods ,plant and machinery and book debts both present and future. Equitable mortgage of land and building of factory situated at Khasra
No. 883K, at Village Dheerkeda Paragana Sarawa Tah and District Meerut. Equitable mortgaged of Shop No. 17 and 18 situated at Taramill Hapur Equitable mortgage of plot No. A -40 Along with construction existing
over it belonging to SH Ashok Chharia and Smt Sadhna Chharia. |
WEBSITE DETAILS:
Company Profile
Subject, is a
renowned manufacturer and supplier of Paper Tube and Paper Cones from India. It
manufactures different types of printed and plain paper cones depending upon
the specific requirement of its customers. Subject was established in 1995-96.
An ISO 9002 company, subject was registered a phenominal growth in it's very
first year, Now it is upgraded to ISO 9001:2000 from DNV NETHERLANDS and also
got approved D-U-N-S No.86-218-2706 which is yet another milestone definitely.
Product Range
They manufacture,
export and supply variety of paper tubes and paper cones including jumbo paper
cone, tight bond paper cone and more. Their range of paper product includes :
Infrastructure / Strength
Highly qualified and
competent professionals, latest machinery, a comprehensive quality control
department--their infrastructure is inclusive of all. Today, they are producing
50 million paper cones per annum. Their global competence is evident from the
fact that they are exporting 75% of the production, across the world. Their
heavy investments in equipments, manufacturing capabilities and technology have
made it possible for them to manufacture high precision, high quality and cost
effective paper cones and paper tube that deliver consistent performance. Their
end-products are manufactured on state of the art modern automatic plant of
their sister concern. The plant is having fully equipped testing laboratory
with in house tooling and die-making facility, for achieving dimensional
stability and high crushing strength.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.89 |
|
UK Pound |
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.66.45 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
37 |
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 |
|