MIRA
INFORM REPORT
|
Report Date : |
19.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SARLA EXPORTS PRIVATE LIMITED |
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Registered Office : |
2, Sainik Farms, New Delhi – 110 062 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.10.1991 |
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Com. Reg. No.: |
55-45979 |
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CIN No.: [Company
Identification No.] |
U74899DL1991PTC045979 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS21278F / DELS24459B |
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PAN No.: [Permanent
Account No.] |
AAACS1264K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Marble Blocks, Slabs and Tiles. |
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 95000 |
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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 records. Trade relations are reported as 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
|
Registered Office : |
2, Sainik Farms, New Delhi – 110 062, India |
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Tel. No.: |
91-11-29551090 / 1 |
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Mobile No.: |
91-98188 66660 |
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Fax No.: |
91-11-26850592 |
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E-Mail : |
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Website : |
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Factory : |
Premgarh, Amberi, Udaipur - 313 001,
Rajasthan State, India |
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Tel. No.: |
91-294-2440661-2 |
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Fax No.: |
91-294-2440663 |
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E-Mail : |
DIRECTORS
|
Name : |
Ms. Chitra Jain |
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Designation : |
Director |
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Address : |
2, Sainik Farms, New Delhi |
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Date of Birth/Age : |
15.10.1967 |
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Qualification : |
Graduate |
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Date of Appointment : |
25.09.2003 |
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Name : |
Mr. Pramod Kumar Jain |
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Designation : |
Director |
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Address : |
2, Sainik Farms, New Delhi |
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Date of Birth/Age : |
30.11.1942 |
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Qualification : |
Graduate |
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Date of Appointment : |
25.09.2003 |
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Name : |
Mr. Praveen Jain |
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Designation : |
Director |
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Address : |
2, Sainik Farms, New Delhi |
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Date of Birth/Age : |
22.04.1967 |
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Qualification : |
Graduate |
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Date of Appointment : |
10.01.1991 |
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Name : |
Ms. Renu Jain |
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Designation : |
Director |
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Address : |
2, Sainik Farms, New Delhi |
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Date of Birth/Age : |
20.02.1969 |
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Qualification : |
Graduate |
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Experience : |
25.09.2003 |
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Name : |
Ms. Reena Jain |
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Designation : |
Director |
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Address : |
2, Sainik Farms, New Delhi |
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Date of Birth/Age : |
04.02.1972 |
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Qualification : |
Graduate |
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Date of Appointment : |
25.09.2003 |
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Name : |
Mr. Prabhat Jain |
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Designation : |
Director |
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Address : |
2, Sainik Farms, New Delhi |
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Date of Birth/Age : |
30.04.1969 |
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Qualification : |
Graduate |
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Date of Appointment : |
10.10.1991 |
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Name : |
Mr. Prashant Jain |
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Designation : |
Director |
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Address : |
2, Sainik Farms, New Delhi |
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Date of Birth/Age : |
30.04.1969 |
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Qualification : |
Graduate |
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Date of Appointment : |
10.10.1991 |
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Name : |
Mrs. Pushpa Jain |
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Designation : |
Director |
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Address : |
2, Sainik Farms, New Delhi |
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Date of Birth/Age : |
06.06.1942 |
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Qualification : |
Graduate |
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Date of Appointment : |
10.10.1991 |
KEY EXECUTIVES
|
Name : |
M/s S R Sharma & Associates |
|
Designation : |
Company Secretary |
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Address : |
B – 402, Puneet Apartments, Vasundhra Enclave, New Delhi – 110096 |
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Tel. No.: |
91-11-22622172 |
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Mobile No.: |
91-9810459582 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Prashant Jain |
|
34468 |
|
Prashant Jain (HUF) |
|
3060 |
|
Prabhat Jain |
|
34178 |
|
Prabhat Jain (HUF) |
|
3060 |
|
Renu Jain |
|
28643 |
|
Reena Jain |
|
26201 |
|
Master Pranay Jain |
|
4190 |
|
Master Punya Jain |
|
6200 |
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TOTAL |
|
140000 |
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|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
99.99 |
|
Others |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Marble Blocks, Slabs and Tiles. |
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Brand Names : |
“PE” |
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Imports : |
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Products : |
Diamond segments and epoxy |
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Countries : |
Belgium and Italy |
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Terms : |
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Selling : |
L/C terms |
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Purchasing : |
Credit (90 days) terms |
GENERAL
INFORMATION
|
Customers : |
Wholesalers |
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No. of Employees : |
60 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
I. M. Puri and Company Chartered Accountants |
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Address : |
C-30, Chirag Enclave, New Delhi – 110 048 |
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Tel. No.: |
91-11-26442498 |
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Fax No.: |
91-11-26238173 |
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Group Company : |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2,60,000 |
Equity Shares |
Rs.
100/- each |
Rs. 26.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,40,010
|
Equity Shares |
Rs.
100/- each |
Rs.
14.001 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 |
14.001 |
14.000 |
14.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9.759 |
8.843 |
7.902 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
23.760 |
22.843 |
21.902 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
40.064 |
51.879 |
43.849 |
|
|
2] Unsecured Loans |
8.500 |
17.773 |
8.806 |
|
|
TOTAL BORROWING |
48.564 |
69.652 |
52.655 |
|
|
DEFERRED TAX LIABILITIES |
2.116 |
2.066 |
1.354 |
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|
|
|
|
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TOTAL |
74.440 |
94.561 |
75.911 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
35.888 |
28.887 |
22.099 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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INVESTMENT |
0.009 |
11.509 |
11.509 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
48.548 |
50.114 |
35.110 |
|
|
Sundry Debtors |
13.982 |
16.884 |
12.833 |
|
|
Cash & Bank Balances |
1.165 |
0.878 |
1.151 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
6.131 |
5.988 |
7.578 |
|
Total
Current Assets |
69.826
|
73.864 |
56.672 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
29.300 |
18.590 |
13.600 |
|
|
Provisions |
2.134 |
1.273 |
0.945 |
|
Total
Current Liabilities |
31.434 |
19.863 |
14.545 |
|
|
Net Current Assets |
38.392 |
54.001 |
42.127 |
|
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MISCELLANEOUS EXPENSES |
0.151 |
0.164 |
0.176 |
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|
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|
|
|
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TOTAL |
74.440 |
94.561 |
75.911 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
103.055 |
92.286 |
83.516 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
103.055 |
92.286 |
83.516 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
1.803 |
1.980 |
1.292 |
|
|
Provision for Taxation |
0.887 |
1.039 |
0.403 |
|
|
Profit/(Loss) After Tax |
0.916 |
0.941 |
0.889 |
|
|
|
|
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|
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Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
50.280 |
49.957 |
38.694 |
|
Total Earnings |
50.280 |
49.957 |
38.694 |
|
|
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|
|
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Imports : |
|
|
|
|
|
|
Raw Materials |
0.000 |
1.892 |
3.195 |
|
Total Imports |
0.000 |
1.892 |
3.195 |
|
|
|
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Expenditures : |
|
|
|
|
|
|
Other Expenditure |
101.252 |
91.306 |
82.224 |
|
Total Expenditure |
10.252 |
91.306 |
82.224 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.88
|
1.01 |
1.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.74
|
2.14 |
1.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.70
|
1.92 |
1.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.08 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.37 |
3.92 |
3.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.22 |
3.72 |
3.89 |
LOCAL AGENCY
FURTHER INFORMATION
It is in trade terms with :-
- Diamond Boart
SANV
- Tantax
SPA
GROUP COMPANIES
Corporate Office
The Sarla Group
2 Sainik Farms, New Delhi - 110 062, India
Tel : 91 11 29551090
- 1, 91 98188 66660
Fax : 91 11 29551092
Email : delhi@sarlagroup.com
Marbles, Stones
& Granites
Sarla Exports
Private Limited
Sales
& Control
2,
Sainik Farms, New Delhi - 110 062, India
Tel : 91 11
29551090-1,
Mobile No.: 91 98188 66660
Fax : 91 11 29551092
Email : delhi@sarlagroup.com
Sarla Antiques
Design, Fabrication & Sales
2, Sainik Farms, New Delhi - 110
062, India
Tel :
91-11-29552906, 29552031
Fax : 91-11-29552031
Email : antiques@sarlagroup.com
Sarla Holdings
Private Limited
Controlling
Office
2, Sainik Farms, New Delhi - 110
062, India
Tel : 91 11
29551090-1,
91 98188
66660
Fax : 91 11 29551092
Email : holdings@sarlagroup.com
School
Pathways World School
Aravali Retreat, Off Gurgaon-Sohna Road, Gurgaon-122 102, Haryana (NCR Delhi),
India
Tel: 91 124 231 8888-9.
91 98186 66660-4
Fax: 91 124 231 8880
Email: admissions@pathways.ac.in
Website: www.pathways.ac.in
Sarla Realtors Limited
Controlling
Office
2, Sainik Farms, New Delhi - 110 062, India
Tel : 91 11
29551090-1, 91 98188 66660
Fax : 91 11 29551092
Email : delhi@sarlagroup.com
Bankers Charges
Report as per Registry
|
Name of the company |
SARLA
EXPORTS PRIVATE LIMITED |
|
Presented By |
Assistant General Manager, Indian Overseas
Bank, GK II, New Delhi and Director, Sarla Exports Private Limited |
|
1) Date and description of instrument creating the change |
Guarantee for
Cash Credit dated 19.01.2004 between Sarla Exports Private Limited and Indian
Overseas Bank, GK II, New Delhi – 110048 in respect of Corporate Guarantee
for Cash Credit Limits being availed by Sarla Export and Import of Rs. 37
Millions |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 37 Millions Cash Credit
Limits |
|
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 |
The limit is
secured against corporate guarantee provided by the guarantor Sarla Exports
Private Limited to cover the Packing Credit and bills limit being availed by
Sarla Export and Import |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The bank charges
will be as per the bank norms and will subject to change depending upon RBI
Bank decision. |
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas
Bank, GK II, New Delhi |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899DL1991PTC045979 |
|
Name of the
company |
SARLA EXPORTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
New Delhi, India |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
ABN Amro Bank NV 9th Floor,
Tower C, Cyber Greens, DLF City, Sector – 25 A, Gurgaon – 122002, Haryana,
India |
|
Nature of
description of the instrument creating or modifying the charge |
Facility cum
hypothecation Agreement |
|
Date of
instrument Creating the charge |
02.11.2006 |
|
Amount secured by
the charge |
Rs. 0.450 Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: Interest @ 9.46 %
p.a. Terms of
repayment : Repayable in 23 installments
of Rs. 0.021/- each Margin : Margin Money of
Rs. 0.061 million contributed by the customer Extent and
operation of the charge : First and
exclusive charge on the assets financed by the way of facility cum
hypothecation agreement. |
|
Short particulars
of the property charged |
One on. CPS
Compressor |
AS PER WEBSITE
Profile
Widely diversified Sarla Group carries the uniqueness of effectively adapting the Ages old Indian merchant legacy to the most modern business environment of this information age.
The Jain family behind the Group currently headed by Mr. Prem Chand Jain and his visionary son Mr. Pramod K. Jain has traditionally been a Delhi based renowned business family enjoying highest repute in business as well as social circles. The baton of sharpness, honesty and dedication is passed over to four young sons in the current third generation.
The team at Sarla Group always remains tuned to the changes that comes with a dizzying speed in today's new world and maintains strong belief that the cycle of quality control is complete only when one takes care of his customer's customer. This culture has made it possible for the Group to record success and create benchmarks in well-diversified new areas of business time and again over the years.
The Group is consciously aware of its obligation towards society too. Under a family trust named "Sarla Devi Prem Chand Jain Dharmarth Trust" the Group undertakes various social and charitable programs.
In India the Group has bases in the States of New Delhi, Rajasthan and Haryana. The Group endeavors to expand its global family of business partners & clients, which is currently spread in over 45 countries all along the Globe.
History
Traditionally the Family were private financiers and property lessors.
In the year 1962, the Group ventured into the business of Electricals by acquiring and running the flagship distributorship of PHILIPS. Here the Group always appeared in the list of largest distributors of PHILIPS.
Expanding the business of Electricals, in the year 1976 the Group took up designing and manufacturing of high class Chandeliers and Fancy light fittings. For this the Group opened a showroom at Bhagirath Palace, Delhi. This was first air-conditioned showroom of this largest Electrical goods market of Asia. In this field the Group attained laurels of designing and fabricating India's largest made Chandelier that hangs even today at Hotel Mughal Sheraton, Agra, the city of The Taj Mahal.
Current Involvements
Currently the Group is engaged in four well-diversified businesses
- Quarrying, Processing & Exports of Marbles, Stones & Granites
- Designing, Fabrication & Exports of Rich Home Furnishings, Indian Handicrafts & Artefacts
- Launching of a World class International School
- Development
of Real Estate & Construction
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.42.64 |
|
UK Pound |
1 |
Rs.83.00 |
|
Euro |
1 |
Rs.66.00 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|