MIRA
INFORM REPORT
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Report Date : |
29.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SCOT INNOVATION WIRES AND CABLES PRIVATE LIMITED |
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Registered Office : |
14/5, Commissioner Lane, Kripa Narain Marg, Civil Lines, New Delhi
110054 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 [SCOT INNOVATION] |
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Date of Incorporation : |
01.08.2006 |
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Com. Reg. No.: |
151501 |
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CIN No.: [Company
Identification No.] |
U31300DL2006PTC151501 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS33174B |
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PAN No.: [Permanent
Account No.] |
AAKCS3140E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Electric Cables and Wires |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 53000 |
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Status : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to publish its first financials. Trade relations are fair. Payments are reported to be slow but
correct. The Company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Satish Aggarwal |
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Designation : |
Director |
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Contact No.: |
91-9871689210 |
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Date : |
08.05.2008 |
LOCATIONS
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Registered Office : |
14/5, Commissioner Lane, Kripa Narain Marg, Civil Lines, New Delhi
110054, India |
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Mobile No.: |
9871689210 |
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E-Mail : |
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Website : |
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Corporate Office : |
BB-8, Dilkhush Industrial Area, 387, 388, G. T. Karnal Road, New Delhi
110033, India |
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Tel. No.: |
91-11-47082284 /47092261/47092287 |
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Fax No.: |
91-11-47092276 |
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E-Mail : |
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Website: |
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Factory 1 : |
195 - 1, 197 - 1, Village Jharmajri, P.O.
Barotiwala (Baddi), Disst. Solan (H.P.) |
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Tel. No.: |
91-1795-271065 |
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Fax No.: |
91-1795-271066 |
DIRECTORS
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Name : |
Mrs. Neha Gupta |
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Designation : |
Director |
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Address : |
10, Commissioner Lane, Kripa Narain Marg, Civil Lines, New Delhi
110054, India |
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Date of Birth/Age : |
06.09.1968 |
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Name : |
Mr. Navin Kumar Gupta |
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Designation : |
Director |
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Address : |
10, Commissioner Lane, Kripa Narain Marg, Civil Lines, New Delhi
110054, India |
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Date of Birth/Age : |
21.02.1968 |
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Name : |
Mr. Satish Aggarwal |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Name of Allottees |
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No. of Shares |
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Mrs. Neha Gupta |
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2892410 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Electric Cables and Wires |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL
INFORMATION
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No. of Employees : |
50 |
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Bankers : |
Main Branch
sector 17-B, Chandigarh 160017 |
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Facilities : |
Rs. 60.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Abinder Bhushan Prasad Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2892410 |
Equity Shares |
Rs. 10/-
each |
Rs. 28.924
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
SCOT INNOVATION
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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13.439 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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13.439 |
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LOAN FUNDS |
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1] Secured Loans |
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6.675 |
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2] Unsecured Loans |
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1.748 |
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TOTAL BORROWING |
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8.423 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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21.862 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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12.516 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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8.589 |
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Cash & Bank Balances |
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0.013 |
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Other Current Assets |
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4.704 |
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Loans & Advances |
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2.223 |
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Total
Current Assets |
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15.529 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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6.183 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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6.183 |
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Net Current Assets |
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9.346 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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21.862 |
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PROFIT & LOSS
ACCOUNT
SCOT INNOVATION
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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35.392 |
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Net Profit |
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9.302 |
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Expenditures : |
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Electricity Expenses |
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0.625 |
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Freight inward |
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0.063 |
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Goods Tax |
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0.003 |
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Job work Expenses |
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0.309 |
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Packing Expenses |
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0.071 |
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Power and Fuel |
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0.107 |
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Repair and Maint [Plant and Machinery] |
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0.026 |
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Staff welfare |
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0.042 |
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Bank charges |
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0.050 |
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Bank interest |
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0.806 |
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Discount |
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0.026 |
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ESI |
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0.012 |
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Freight outward |
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0.024 |
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Insurance Expenses |
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0.018 |
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Interest on Unsecured loan |
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0.248 |
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ISI Fees |
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0.092 |
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Legal and Professional charges |
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0.016 |
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Miscellaneous Expenses |
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0.008 |
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Pollution Expenses |
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0.006 |
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Postage and Courier |
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0.019 |
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Printed and stationery |
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0.030 |
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Salary and wages |
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0.734 |
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Short and excess recovery |
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0.002 |
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Telephone Expenses |
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0.033 |
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Tendering charges |
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0.003 |
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Trade mark Expenses |
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0.025 |
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Vehicle running |
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0.033 |
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Deprecation |
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1.129 |
SCOT
INNOVATION WIRES AND CABLES PRIVATE LIMITED
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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300.000 |
200.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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PAT / Total Income |
(%) |
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26.28 |
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Net Profit Margin (PBT/Sales) |
(%) |
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26.28 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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33.17 |
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Return on Investment (ROI) (PBT/Networth) |
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0.69 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.08 |
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Current Ratio (Current Asset/Current Liability) |
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2.51 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Nalco
- Hindalco
- Balco
Form 8
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate identity
number of the company |
U31300DL2006PTC151501 |
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Name of the
company |
SCOT INNOVATION
WIRES AND CABLES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
14/5, Commissioner Lane, Kripa Narain Marg, Civil Lines, New Delhi
110054, India |
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Type of charge |
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Particular of
charge holder |
State Bank of
India Main Branch
sector 17-B, Chandigarh 160017 E-mail: mukesh.yadav@sbi.co.in |
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Nature of
description of the instrument creating or modifying the charge |
SMEI Letter of
arrangement, SME2 Agreement of loan cum hypothecation, SME8 and SME 7
confirmation for EM of property in the name of the company link letter. |
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Date of
instrument Creating the charge |
07.02.2007 |
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Amount secured by
the charge |
Rs. 13.800
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
interest @ 12.25% p.a. for
cash credit and 12.75% for term loan both linked to SBAR hence changeable as
per bank rate from time to time. [b] Terms of
repayment The term loan is
repayable in 20 quarterly EMI of Rs.
0.150 Million with interest and CC limit is repayable on demand. [c] Margin As may be
stipulated by bank from time to time. [d] Extent and
operation of the charge First charge on all
the current assets of the company including receivables both present and
future EM of factory land and building at 195/1, 197/1 village Jharmajri P.
O. Barotiwala District Solan Extent of operation =100% |
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Short particulars
of the property charged |
First charge on
all the current assets of the company including receivables both present and
future EM of factory land and building at 195/1, 197/1 village Jharmajri P.
O. Barotiwala District Solan H.P. |
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 |
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US Dollar |
1 |
Rs. 42.85 |
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UK Pound |
1 |
Rs. 84.79 |
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Euro |
1 |
Rs. 67.36 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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29 |
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 |
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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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