MIRA
INFORM REPORT
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Report Date : |
29.11.2008 |
IDENTIFICATION DETAILS
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Name : |
SHANKAR RAJ IMPEX PRIVATE LIMITED |
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Registered Office : |
1224/5, Suchet Complex, 4th Floor, Naiwala, Karol Bagh, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
16.09.2006 |
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Com. Reg. No.: |
55-153928 |
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CIN No.: [Company
Identification No.] |
U27310DL2006PTC153928 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS33455C |
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PAN No.: [Permanent
Account No.] |
AAKCS1826R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and Trader of Tool and Alloy Steel, Non- Ferrous Metals, Dis
Steel Die Black Steel etc. |
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 5000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Trade relations
are fair. Scale of activity is limited. No complaints have been heard from
market sources. The company can be considered for small to mediocre business dealings.
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INFORMATION PARTED BY
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Name : |
Mr. Chauhan |
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Designation : |
Accountant Department |
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Date : |
27.11.2008 |
LOCATIONS
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Registered Office : |
1224/5, Suchet Complex, 4th Floor, Naiwala, Karol Bagh, |
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Tel. No.: |
91-11-28855515 |
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Fax No.: |
91-11-41546835 |
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E-Mail : |
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Website : |
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Area : |
125 sq. gaj |
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Location : |
Owned |
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Administrative
Office : |
405, Suchet Chambers, 1224/5, Pyare Lal Road, Naiwala, Karol Bagh, New
Delhi – 110005, India |
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Tel. No.: |
91-11-25758703/ 25815569/ 28855515 |
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Fax No.: |
91-11-51546835 |
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E-Mail : |
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Branch Office : |
58 Ajmeri Gate, |
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Area : |
500 sq. ft. |
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Location : |
Rented |
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Branch Office : |
R-9, Gali No.10, New Rotak Road, Anand Parvat, New Delhi, India |
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Warehouse : |
E-22, |
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Tel No.: |
91-11-38345926 |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Raj Kumar Aggarwal |
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Designation : |
Director |
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Address : |
106, Harah Vihar, Pitampura, |
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Date of Birth/Age : |
10.05.1957 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
16.09.2006 |
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Name : |
Mr. Shankar Sharma |
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Designation : |
Director |
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Address : |
495, Sainik Vihar, Pitampura, |
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Date of Birth/Age : |
15.04.1956 |
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Qualification : |
B. Com |
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Date of Appointment : |
16.09.2006 |
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Name : |
Mr. Sunil Kumar |
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Designation : |
Director |
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Address : |
443, Sector – 37A, |
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Date of Birth/Age : |
20.12.1954 |
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Qualification : |
B. Com |
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Date of Appointment : |
10.10.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 31.03.2008)
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Names of Shareholders |
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No. of Shares |
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Shankar Sharma |
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5000 |
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Raj Kumar Aggarwal |
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50000 |
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Raj Bala Sharma |
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45000 |
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Total |
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100000 |
(As on 16.09.2008)
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Names of Allotted |
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No. of Shares
Allotted |
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J P Aggarwal and Sons (HUF) |
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40000 |
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Raj Kumar Aggarwal |
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44990 |
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R. K Aggarwal and Sons (HUF) |
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40000 |
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Raj Bala Sharma |
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70000 |
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Vineet Sharma |
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40000 |
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Shankar Sharma (HUF) |
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15000 |
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Sunil Kumar Gupta |
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10 |
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Total |
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250000 |
(As 30.09.2008)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer and Trader of Tool and Alloy Steel, Non- Ferrous Metals, Dis
Steel Die Black Steel etc. |
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Products : |
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Agencies Held : |
Supet Foringes Steel Limited, Kolkata |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash (30-120 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
40 Warehouse |
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Bankers : |
Central Market, Punjabi Bagh Branch, |
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Facilities : |
Over Draft – Rs.17.500 Millions
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Banking
Relations : |
- |
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Auditors : |
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Name : |
V. K. Maheshwari and Company Chartered Accountant |
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Address : |
1213/5, 2nd Floor, |
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Associates/Subsidiaries : |
Madhav Forgings
Private Limited Derahari, Steelage India
Private Limited 1224/5, Suchet Complex, 4th Floor, Naiwala, Karol Bagh, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.000 |
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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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0.042 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.042 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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5.425 |
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TOTAL BORROWING |
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5.425 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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6.467 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.037 |
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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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3.228 |
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Sundry Debtors |
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6.376 |
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Cash & Bank Balances |
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1.533 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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11.137 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.351 |
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Provisions |
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0.378 |
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Total
Current Liabilities |
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4.729 |
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Net Current Assets |
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6.408 |
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MISCELLANEOUS EXPENSES |
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0.022 |
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TOTAL |
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6.467 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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20.361 |
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Other Income |
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0.000 |
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Total Income |
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20.361 |
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Profit/(Loss) Before Tax |
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0.097 |
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Provision for Taxation |
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0.030 |
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Profit/(Loss) After Tax |
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0.067 |
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Total Expenditure |
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20.264 |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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0.33 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.48 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.87 |
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Return on Investment (ROI) (PBT/Networth) |
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0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
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9.74 |
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Current Ratio (Current Asset/Current Liability) |
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2.36 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
- Alloy Steel
- Surya Steel
Corporation,
FORM:
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Corporate
identity number of the company |
U27310DL2006PTC153928 |
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Name of the
company |
SHANKAR RAJ IMPEX PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
1224/5, Suchet Complex, 4th Floor, Naiwala, Karol Bagh, |
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This form is for |
Creation of
charge |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Syndicate Bank Central Market, Punjabi Bagh Branch, |
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Nature of
instrument creating charge |
Omnibus Counter Guarantee
and Composite Hypothecation Agreement |
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Date of
instrument Creating the charge |
08.10.2008 |
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Amount secured by
the charge |
Rs.8.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
interests: As per Sanction
Terms Terms of
repayment: As per sanction
terms Margin: 15% Extent and
operation of the charge: The Hypothecated
assets to secure FXLC limit of Rs.8.000 Millions granted bank to the company. |
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Particulars of the
property charged |
Hypothecation of
ferrous, non ferrous metals, tools alloys steel and dis steel die black steel
etc. And all present and future book debts and receivable of the company to
be stored at borrower premises at E – 22A, Swaran Park, Udyog Nagar, Mundka
Delhi – 110041. |
FIXED ASSETS:
- Weight and Scale Machine
- Computers
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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 |
5 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
NO |
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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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26 |
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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