MIRA
INFORM REPORT
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Report Date : |
11.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SANTEC EXIM PRIVATE LIMITED |
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Registered Office : |
GD-96, Sanetec House, Vishakha Enclave, Pitampura, New Delhi-110088 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.12.2003 |
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Com. Reg. No.: |
55-123435 |
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CIN No.: [Company
Identification No.] |
U51909DL2003PTC123435 |
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IEC No.: |
0599011807 |
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PAN No.: [Permanent
Account No.] |
AIBPS6643J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Hydraulic Presses Rubber and Plastic
Machinery |
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 5400 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Mr. U. K. Sangal, Director confirmed the details. Subject is a well established company having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Uma Kant Sangal |
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Designation : |
Director |
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Contact No.: |
91-9811664677 |
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Date : |
10.11.2008 |
LOCATIONS
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Registered/ Head Office : |
GD-96, Sanetec House, Vishakha Enclave, Pitampura, New Delhi-110088,
India |
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Tel. No.: |
91-11-27311039/ 27312642/ 42455008 |
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Mobile No.: |
91-9811664677 |
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Fax No.: |
91-11-27316436/ 42455008 |
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E-Mail : |
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Website : |
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Area : |
130 mtr |
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Location : |
Owned |
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Factory : |
Plot No.92/6, Road No. 4, Mundka Udyog Nagar,Mundka Extn, Behind,
Abhinandan Vrika, Rontak Road, New Delhi – 110 041, Delhi, India |
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Tel. No.: |
91-11-28342825 |
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Area : |
2500 mtr |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Umakant Sangal |
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Designation : |
Director |
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Address: |
GD 96, Vishakah Enclaves, Pitam Pura, New Delhi-110088, India |
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Date of Birth/Age : |
12.10.1971 |
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Qualification : |
B.E (Engineering) |
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Date of Appointment : |
09.12.2003 |
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Name : |
Mrs. Richa Sangal |
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Designation : |
Director |
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Address: |
GD 96, Vishakah Enclaves, Pitam Pura, New Delhi-110088, India |
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Date of Birth/Age : |
16.06.1978 |
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Qualification : |
B.A. |
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Date of Appointment : |
09.12.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2007
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Names of Shareholders |
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No. of Shares |
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Mrs. Richa Sangal |
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5000 |
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Mr. Umakant Sangal |
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5000 |
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Total |
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10000 |
Equity share breakup
(percentage of total equity)
As on 29.09.2007
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Category |
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Percentage |
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Directors or relatives of director |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Hydraulic Presses Rubber and Plastic
Machinery |
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Products : |
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Exports : |
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Products : |
Hydraulic Presses and Machinery |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, T/T |
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Purchasing : |
L/C T/T |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
110 |
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Bankers : |
IDBI Bank Allahabad Bank, Pitampura Branch, Community Centre, Ring Road,
Wazirpur, Delhi -110052 |
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Facilities : |
The company reported to enjoy cash credit facility of Rs.10.000
Millions from the bankers. |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
Subhash Gogia and Associates, Chartered Accountant (Proprietor Membership No. 87051) |
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Address : |
2137/59, 3rd Floor, Naiwala, Karol Bagh, New Delhi – 110
005, Delhi, India |
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Tel. No.: |
91-11-28758500/28758600 |
CAPITAL STRUCTURE
As On 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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Rs.80.000
Millions |
Expected Sales (2008-09) : Rs.150.000 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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.975 |
0.460 |
0.163 |
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4] (Accumulated Losses) |
0.00 |
0.000 |
0.000 |
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NETWORTH |
1.075 |
0.560 |
0.263 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.263 |
0.263 |
0.020 |
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TOTAL BORROWING |
0.263 |
0.263 |
0.020 |
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DEFERRED TAX LIABILITIES |
0.027 |
0.034 |
0.011 |
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TOTAL |
1.365 |
0.857 |
0.294 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.723 |
1.475 |
0.240 |
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Capital work-in-progress |
0.000 |
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 |
5.462
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0.098 |
1.727 |
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Sundry Debtors |
4.228
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3.106 |
0.200 |
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Cash & Bank Balances |
3.245
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0.369 |
2.879 |
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Other Current Assets |
0.317
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0.004 |
0.004 |
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Loans & Advances |
0.294
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0.000 |
0.000 |
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Total
Current Assets |
13.546
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3.577 |
4.810 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
14.907
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4.195 |
4.828 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
14.907
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4.195 |
4.828 |
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Net Current Assets |
(1.361)
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(0.618) |
(0.018) |
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MISCELLANEOUS EXPENSES |
0.003 |
0.000 |
0.072 |
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TOTAL |
1.365 |
0.857 |
0.294 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
24.647 |
17.413 |
10.146 |
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Other Income |
0.186 |
0.111 |
0.198 |
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Total Income |
24.833 |
17.524 |
10.344 |
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Profit/(Loss) Before Tax |
0.678 |
0.473 |
0.259 |
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Provision for Taxation |
0.163 |
0.176 |
0.000 |
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Profit/(Loss) After Tax |
0.515 |
0.297 |
0.259 |
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Earnings in Foreign Currency : |
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Export Earnings |
21.788 |
10.436 |
0.000 |
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Expenditures : |
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Cost of Goods Sold |
0.000 |
0.000 |
8.058 |
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Increase/(Decrease) in Finished Goods |
0.000 |
1.630 |
(1.727) |
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Depreciation & Amortization |
0.307 |
0.177 |
0.003 |
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Salary and Wages |
0.064 |
0.481 |
0.292 |
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Preliminary Expenses |
0.001 |
0.001 |
0.001 |
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Printing and Stationery |
0.048 |
0.014 |
0.002 |
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Professional Charges |
0.019 |
0.015 |
0.000 |
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Other Expenditure |
23.716 |
14.733 |
3.456 |
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Total Expenditure |
24.155 |
17.051 |
10.085 |
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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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PAT / Total Income |
(%) |
2.07
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1.69 |
2.50 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.75
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2.71 |
2.55 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.16
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9.36 |
5.12 |
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Return on Investment (ROI) (PBT/Networth) |
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0.63
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0.84 |
0.98 |
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Debt Equity Ratio (Total Liability/Networth) |
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14.11
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7.96 |
18.43 |
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Current Ratio (Current Asset/Current Liability) |
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0.90
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0.85 |
0.99- |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
·
M R F Limited
·
J. K. Tyres Limited
·
India Railways
·
HAL Limited
Fixed Assets:
·
Coffee Machine
·
Computers
·
Degien Software
·
Fridge
·
Furniture and Fixture
·
Machinery
·
Epabx
·
Fax Machine
·
Generator
·
Mannual Voltage Stabilizer
·
Refrigerator Telephone Instruments
Profile
In the present business scenario, its a fight for existence
and the company with the most viable business plan & stratregies survive in
the corporate world. Santec, guided by hardwork, sincerity and a determination
to excel, has emerged as one of the largest & leading manufacturers of
hydraulic & other machinery. Reputed as one of the fastest growing
companies in India, it is widely recognized not just for excellence in
workmanship, materials and finish but also for technical aspects of its products.
Infrastructure is the mainstay
They owe their success primarily to the world-class infrastructure and highly
qualified professionals. They have state-of-the-art production facilities,
equipped with technically advanced machines and equipment. The machines are
regularly serviced and maintained, to ensure efficient and flawless production.
The machines are manned by personnel who are well-trained and experienced in
their fields of activity.
They have a team of service engineers, who are responsible for providing
efficient & prompt after-sales-service on the field. Additionally, they
also maintain a complete after-sales-service network and sales & service
agents in different countries
Clientele
Owing to their customer-friendly product range and excellent after-sales
services, they have won the goodwill of our hugely satisfied clientele, across
the world. They have been exporting their machines to more than 20 countries
worldwide including USA, U.K., Colombia, Chille, Venezuela, Belgium, France,
Yogaslavia, Russia, Kuwait, Oman, Saudi Arabia, U.A.E., South Africa, Kenya,
Uganda, Egypt, Bangladesh, Sri Lanka, Nepal, Malaysia, Singapore, Seychelles,
Nigeria, Syria, Australia, Indonesia, Vietnam, Behran, Iran, to name a few.
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.47.32 |
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UK Pound |
1 |
Rs.74.20 |
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Euro |
1 |
Rs.60.73 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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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 |
YES |
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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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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 |
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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 |
|
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 |
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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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