MIRA
INFORM REPORT
|
Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SAHAJANAND LASER
TECHNOLOGY LIMITED |
|
|
|
|
Formerly Known As : |
SHREEJI LASER TECHNOLOGY
PRIVATE LIMITED |
|
|
|
|
Registered Office : |
E-30, G. I. D.
C., Electronics Estate, Sector – 26, Gandhinagar – 382 028, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
23.04.2002 |
|
|
|
|
Com. Reg. No.: |
04-40659 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U30007GJ2002PLC040659 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
SRTS00836D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAGCS1983B |
|
|
|
|
Legal Form : |
Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture and sale of different kinds of CNC laser machines and laser marking machines. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having satisfactory track. Trade relations are fair. Financial position is satisfactory. Payments are usually correct and as per commitments. The company is doing well. It can be considered good for normal business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Yanesh |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9925036495 |
|
Date : |
25.08.2008 |
LOCATIONS
|
Registered Office : |
E-30, G. I. D.
C., Electronics Estate, Sector – 26, Gandhinagar – 382028, Gujarat, India |
|
Tel. No.: |
91-79-23241379 |
|
Fax No.: |
91-79-23241465 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate
Office / Factory : |
E-30, GIDC Electronics Estate, Sector - 26, Gandhinagar - 382 044, Gujarat, India |
|
Tel. No.: |
91-79-23226877/23241379 / 80 |
|
Fax No.: |
91-79-23241465 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
48 Arvind Estate,
L. B. S. Road, Bapunagar, Ahmedabad – 380025, Gujarat |
|
Tel. No.: |
91-79-2201247 / 2201456 |
|
|
|
|
Factory [SEZ
WORKS] : |
Plot No. 29 and
58, Surat Special Economic Zone, Sachin – 394230, District Surat |
|
Tel. No.: |
91-261-2398411/19 |
|
Fax No.: |
91-261-2398411/19 |
|
|
|
|
Marketing Office : |
41, New York Tower
– 1, Near Thaltej Cross Road, S. G. Highway, Ahmedabad – 380054, Gujarat |
|
Tel. No.: |
91-79-26854537 / 38 |
|
Mobile No.: |
91-9925036495 |
|
Fax No.: |
91-79-26854539 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Sahajanand House, 5, Krishnakunj Society, Opposite Sadhna School,
Varachha Road, Surat, Gujarat, India. Phone : 91-261-2568447 – 48 8, Orchid Plaza, R. T. Road, Behind Moviegem Theater, Dahiser (East),
Mumbai - 400 061 Tele : 91-22-55765408 UK
OFFICE Unit 2, Kingsbury Works Estate, Off
Kingsbury Road, kingsbury, London NW9 8UP Tele : 0044 (0) 208 201 3881 Fax : 0044 (0) 208 201 3882 E-mail : kanti@sahajanandlaser.com USA OFFICE Sahajanand Laser Technology USA Inc. 1501, W Shady Grove Road, Grand Prairie TX
75050, DALLAS, TEXAS, USA. Tele : 001 972 790 7610 Fax : 001 972 786 3135 |
DIRECTORS
|
Name : |
Mr. Arvind Lavji
Patel |
|
Designation : |
Director |
|
Address : |
Plot – 4,
Manichandra Society, Part – I, Thaltej, Ahmedabad – 380054, Gujarat |
|
Date of Birth/Age : |
07.08.1958 |
|
Qualification : |
B.E. |
|
Experience : |
25 Years |
|
Date of Appointment : |
23.04.2002 |
|
|
|
|
Name : |
Mr. Dinesh Lavji
Patel |
|
Designation : |
Director |
|
Address : |
17, Vitthalnagar
Society Camp Road, Shahibaug, Ahmedabad – 380004, Gujarat |
|
Date of Birth/Age : |
13.08.1968 |
|
Experience : |
20 Years |
|
Date of Appointment : |
23.04.2002 |
|
|
|
|
Name : |
Mr. Lavji Pragji
Patel |
|
Designation : |
Director |
|
Address : |
17, Vitthalnagar
Society Camp Road, Shahibaug, Ahmedabad – 380004, Gujarat |
|
Date of Birth/Age : |
23.10.1936 |
|
Date of Appointment : |
23.04.2002 |
|
|
|
|
Name : |
Mr. Hasmukh
Ratansi Patel |
|
Designation : |
Director |
|
Address : |
39, Bhagwat
Bunglow, Opposite Sola Vidhyapith, Sola Ghatlodiya, Ahmedabad, Gujarat |
|
Date of Birth/Age : |
29.09.1964 |
|
Date of Appointment : |
15.04.2004 |
|
|
|
|
Name : |
Ms. Anita Anil
Joshi |
|
Designation : |
Director |
|
Address : |
8, Kailash
Apartment, 9, Dhanlaxmi Society, Maninagar, Ahmedabad – 380008, Gujarat |
|
Date of Birth/Age : |
26.08.1980 |
|
Date of Appointment : |
13.01.2005 |
|
|
|
|
Name : |
Mr. Ashwin
Jerabhai Babaria |
|
Designation : |
Director |
|
Address : |
435, Shady Lane,
South Lake, Texas – 76092, United States |
|
Date of
Birth/Age : |
01.06.1963 |
|
PAN No. : |
00359466 |
|
Date of
Appointment : |
15.05.2006 |
|
|
|
|
Name : |
Mr. Dhirajlal
Jerambhai Babaria |
|
Designation : |
Director |
|
Address : |
435, Shady Lane,
South Lake, Texas – 76092, United States |
|
Date of
Birth/Age : |
10.03.1949 |
|
PAN No. : |
00358654 |
|
Passport No. : |
15488051 |
|
Date of
Appointment : |
15.05.2006 |
|
|
|
|
Name : |
Mr. Nilesh
Rajanikant Desai |
|
Designation : |
Director |
|
Address : |
1, Manekbag
Society, S. M. Road, Ahmedabad – 380015, Gujarat |
|
Date of Birth/Age
: |
06.07.1960 |
|
PAN No. : |
00359542 |
|
Income – tax
Pan No. : |
ACMPD1404F |
|
Date of
Appointment : |
15.05.2006 |
|
Passport No. : |
E1047837 |
|
|
|
|
Name : |
Mr. Kanti Ramji
Pindoria |
|
Designation : |
Director |
|
Address : |
55, Church Lane,
Kingsbury, London, NW98ET, London, Great Britain |
|
Date of
Birth/Age : |
05.06.1962 |
|
PAN No. : |
00433455 |
|
Income – tax
Pan No. : |
ANAPP8662J |
|
Date of
Appointment : |
04.09.2006 |
|
|
|
|
Name : |
Mr. Vishnu
Rajaram Varshney |
|
Designation : |
Nominee Director |
|
Address : |
“Sai Kutir”, 4,
Radhe Kishan Bunglows, Near Prernadeep, Judges Bunglows Road, Bokadev,
Ahmedabad – 380 054, Gujarat, India |
|
Date of Birth/Age : |
11.04.1947 |
|
Date of Appointment : |
02.11.2007 |
KEY EXECUTIVES
|
Name : |
Ms. Anita Anilkumar Joshi |
|
Designation : |
Secretary |
|
Address : |
8, Kailash Apartment, 9, Dhanlaxmi Society, Maninagar, Ahmedabad –
380008, Gujarat, India |
|
Date of Birth/Age : |
26.08.1980 |
|
Date of Appointment : |
13.01.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 04.09.2006)
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Arvindbhai
Lavjibhai Patel |
|
5400000 |
|
Mr. Dineshbhai
Lavjibhai Patel |
|
300000 |
|
Mr. Lavjibhai
Pragjibhai Patel |
|
300000 |
|
Ms. Jyotsanaben
Arvindbhai Patel |
|
300000 |
|
Ms. Rekhaben
Dineshbhai Patel |
|
300000 |
|
Mr. Dhirajlal J.
Babaria |
|
1700000 |
|
Mr. Ashwinbhai J.
Babria |
|
1700000 |
|
|
|
|
|
Total |
|
10000000 |
List of Allottees
(As on 04.09.2006)
|
Names of Allottees |
|
No. of Shares |
|
Mr. Arvindbhai
Lavjibhai Patel |
|
60000 |
|
Mr. Dineshbhai
Lavjibhai Patel |
|
9000 |
|
Mr. Dineshbhai
Lavjibhai Patel HUF Through Dineshbhai Lavjibhai Patel, Karta |
|
84000 |
|
ALP Multi-Tech
Private Limited |
|
30000 |
|
Ms. Rekhaben
Dineshbhai Patel |
|
20000 |
|
Mr. Dhirajlal J. Babaria |
|
50750 |
|
Mr. Ashwinbhai J.
Babria |
|
50750 |
|
|
|
|
|
Total |
|
304500 |
(As on 30.03.2006)
|
Names of Allottees |
|
No. of Shares |
|
Mr. Arvindbhai
Lavjibhai Patel |
|
2700000 |
|
Mr. Dineshbhai
Lavjibhai Patel |
|
150000 |
|
Mr. Lavji Pragji
Patel |
|
150000 |
|
Mrs. Jyotsanaben
Arvindbhai Patel |
|
150000 |
|
Ms. Rekhaben
Dineshbhai Patel |
|
150000 |
|
Mr. Dhirajlal J.
Babaria |
|
850000 |
|
Mr. Ashwinbhai J.
Babria |
|
850000 |
|
|
|
|
|
Total |
|
5000000 |
(As on 30.09.2007)
|
Equity Share
Breakup |
|
|
|
Category |
|
Percentage of
Holding |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
34.00 |
|
Directors of relatives of directors |
|
66.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of different kinds of CNC laser
machines and laser marking machines. |
|
|
|
|
Products : |
· CNC laser cutting machine · CNC plasma / gas cutting machine · CNC laser marking machine · CNC laser diamond cutting machine · CNC turret punch press machine · CNC engraving machine · CNC wood router machine · CNC PCB drilling machine · CNC dot-matrix marking machine · CNC Micropositioners · Industrial Products and Automation |
|
|
|
|
Exports : |
|
|
Products : |
·
Laser Cutting and Marking Machines ·
Rough diamond planning and marking system ·
Laser diamond sawing system diamond bruiting system ·
Laser diamond blocking system ·
Laser Diamond bruiting systems ·
Auto polishing systems ·
Jewellery Hallmarking and Welding Industrial ·
Laser Cutting ·
Laser Marking and Laser Welding Systems with Automation Cell Cutting ·
CNC PCB Drilling ·
CNC Engraving ·
CNC Wood Router ·
Micro-Post |
|
Countries : |
· USA · Bangkok · China · Israel · Bangladesh · Dubai · UK · Belgium · Singapore · Eran · Srilanka · Saudi Arabia · Russia · Thailand ·
Poland |
|
|
|
|
Imports : |
|
|
Products : |
·
Components ·
Raw Materials ·
Optics |
|
Countries : |
· Switzerland · UK · Germany · Europe · China ·
USA [Components and spares like head, lamps, rods,
etc] |
|
|
|
|
Terms : |
|
|
Selling : |
L/C – 50% advance
raser on |
|
|
|
|
Purchasing : |
L/C – 50% advance
50% |
GENERAL
INFORMATION
|
Suppliers : |
· Cambridge Technology Inc., USA · TJS Inc., USA · Cascade Laser Corporation, Los Angels, USA · Quantronix Corporation, USA · BC Electronics Inc. · Dynaco Corporation, USA · Acuity Research Inc., USA · PRC Corporation, USA · Rodenstock Precision Optics, Germany · IPG Laser, Germany · Projectina, Switzerland · Ophir Optronics, Israel |
|
|
|
|
Customers : |
· End Users · OEM’s · Res Photovaltaic Limited, Hyderabad, Andhra Pradesh · E.C.I.L., Hyderabad, Andhra Pradesh · Miranda Tools, Ankleshwar, Gujarat · Phillips India Limited, Pune, Maharashtra · ATIRA, Ahmedabad, Gujarat · Tata Iron & Steel Company Limited, Kharagpur, Madhya Pradesh · Perfect Circle, Nasik, Maharashtra · Nityanand Engravers, Rajkot, Rajasthan · Addison Tools, Chennai, Tamilnadu · National Process, Ahmedabad, Gujarat · Paddhary Wood Works (Ajanta Clocks), Rajkot, Rajasthan · Cummins Limited, Pune, Maharashtra · Impex Electronics Private Limited, Gandhinagar, Gujarat · Birla Kennametals, Aurangabad, Maharashtra · Shri Ram Piston and Rings Limited, Ghaziabad, Uttar Pradesh · Royal Touch Funiture, Rajkot, Rajasthan · ITI Limited, Mankapur, Uttar Pradesh · Sachitanand Precision Tooling Centre, Bangalore, Karnataka · Laser Lab, Delhi · Shiv Laser Tech, Baroda, Gujarat · IP Rings Limited, Chennai, Tamilnadu · Space Application Centre (SAC), ISRO, Ahmedabad, Gujarat · Wendt India Limited, Hosur, Tamilnadu · Bharat Heavy Electricals Limited, Bhopal, Madhya Pradesh · Ajanta Clocks, Paddhari, Himachal Pradesh · Classic Industries, Ahmedabad, Gujarat · Gold Welding Machine : Goldium International, Mumbai · Birla Canameter · HPL Limited · B C Components India Limited, Pune, Maharashtra · Perfect Circle Victor Limited - Now Known As Perfect Circle India Limited · Websel SL Energy Systems Limited · Jadavpur University, Kolkata, West Bengal · Gujarat Gold Centre, Rakhial, Ahmedabad, Gujarat |
|
|
|
|
No. of Employees : |
400 |
|
|
|
|
Bankers : |
State Bank of
India MCL AU Unit, Ahemedabad
LHO Building, Lal Darwaja, Ahmedabad – 380 006, Gujarat, India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
B J Trivedi and
Associates Chartered
Accountants |
|
Address : |
Raj Ratna Complex, Navrangpura, Ahmedabad – 380009, Gujarat, India |
|
|
|
|
Associates/Subsidiaries : |
· Sahajanand Software Private Limited o Incorporated in the year 2001 o Engaged in software development and export · Sahajanand Laser Technology · Sahajanand Enterprise · Shreeji Services ·
Sahajanand Technocrats ·
Laser Medical Technology Private Limited ·
Satya Machatronics Private Limited |
|
|
·
|
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10304500 |
Equity Shares |
Rs.10/- each |
Rs.103.045 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 |
103.045 |
100.000 |
50.000 |
|
|
2] Share Application Money |
21.775 |
6.700 |
0.000 |
|
|
3] Reserves & Surplus |
96.357 |
27.119 |
50.327 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
221.177 |
133.819 |
100.327 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
22.081 |
51.950 |
48.654 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
22.081 |
51.950 |
48.654 |
|
|
DEFERRED TAX LIABILITIES |
2.015 |
1.228 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
245.273 |
186.997 |
148.981 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
75.667 |
43.109 |
36.376 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
11.038 |
0.005 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
73.375
|
104.824
|
54.546 |
|
|
Sundry Debtors |
158.476
|
121.826
|
75.350 |
|
|
Cash & Bank Balances |
37.599
|
14.164
|
34.605 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
25.389
|
28.917
|
17.992 |
|
Total
Current Assets |
294.839
|
269.731
|
182.493 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
132.758
|
121.701
|
62.042 |
|
|
Provisions |
4.443
|
4.181
|
7.915 |
|
Total
Current Liabilities |
137.201
|
125.882
|
69.957 |
|
|
Net Current Assets |
157.638
|
143.849
|
112.536 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.930 |
0.034 |
0.069 |
|
|
|
|
|
|
|
|
TOTAL |
245.273 |
186.997 |
148.981 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
||
|
Sales Turnover |
381.281 |
300.010 |
206.695 |
|
|
Other Income |
2.227 |
3.388 |
2.090 |
|
|
Total Income |
383.508 |
303.398 |
208.785 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
74.159 |
30.329 |
28.910 |
|
|
Provision for Taxation |
6.024 |
3.492 |
2.440 |
|
|
Profit/(Loss) After Tax |
68.135 |
26.837 |
26.469 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
Sales of goods manufactured |
300.570 |
225.115 |
127.073 |
|
|
Total Earnings |
300.570 |
225.115 |
127.073 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
226.387 |
258.780 |
126.072 |
|
|
Increase/(Decrease) in Finished Goods |
8.150 |
(44.164) |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
27.747 |
18.019 |
18.599 |
|
|
Managerial Remuneration |
4.200 |
4.574 |
2.419 |
|
|
Payment to Auditors |
0.348 |
0.374 |
0.084 |
|
|
Interest |
6.895 |
6.988 |
2.648 |
|
|
Insurance Expenses |
0.929 |
0.902 |
0.944 |
|
|
Power & Fuel |
1.134 |
1.511 |
1.413 |
|
|
Depreciation & Amortization |
2.292 |
1.933 |
0.000 |
|
|
Other Expenditure |
31.267 |
24.152 |
27.696 |
|
Total Expenditure |
309.349 |
273.069 |
179.875 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
17.77
|
8.85 |
12.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.45
|
10.11 |
13.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.02
|
9.69 |
13.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.23 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.72
|
1.33 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15
|
2.14 |
2.61 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been shifted from 48 – A, Arvind Estate, Behind Indica
Laboratory, L. B. S. Road, Bapunagar, Ahmedabad – 380025, Gujarat to the
present address w.e.f. 21.11.2006
Trustseal Acceptance Chart
|
Parameters |
Details |
|
|
|
|
Existence Verification |
|
|
Name |
SAHAJANAND LASER
TECHNOLOGY LIMITED |
|
|
|
|
Statutory Approvals |
|
|
Legal Status of Firm |
Private Limited |
|
Income Tax Registration |
AAGCS1983B |
|
Central Sales Tax Registration |
24560301817 C |
|
VAT/ TIN Registration |
24560301817 V |
|
Excise Registration |
AAGCS1983B XM 001 |
|
Import Export Code |
0893017027 |
|
Name of Bank |
State Bank of India |
|
Account Since |
1992 |
|
|
|
|
Credibility Factors |
|
|
IndiaMART Client Since |
3 Years – More than |
|
Years of Establishment |
1992 |
|
|
|
|
Standards & Certifications |
|
|
Quality Management Systems |
ISO 9001:2000 |
FIXED
ASSETS
·
Lease Hold
Land
·
Factory
Building
·
Plant and
machinery
·
Electrical
Installation
·
Electric
Fitting and Fixtures
·
Furniture and
Fixtures
·
Computer
·
Vehicle
·
Office
Equipment
·
Equipments
Trade References
·
Tata Steel
Limited, Jamshedpur – Pune
·
Timken India
Limited – Chennai
·
Any Eye
Private Limited - Jamshedpur
Form No. 8
|
Name of the company |
SHREEJI LASER TECHNOLOGY PRIVATE LIMITED |
|
Presented By |
Mr. Arvindbhai L. Patel, Director |
|
1) Date and description of instrument creating the change |
27.03.2003 Agreement of loan for overall limits dated 27.03.2003 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.20 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of goods, receivables, movables, plant and machinery of the company |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Hypothecation of goods, receivables, movables, plant and machinery of the company Details of credit
facilities Rs. in
millions Cash credit [hypo of stocks and Book debts] 10 Letter of credit 10 Bank guarantee [-2.500] Total 20 Margins : @ 25% on raw materials @ 40% on stock in process @ 40% on finished goods @ 50% on receivables @ 25% on letter of credit |
|
5) Name and Address and description of the person entitled to the charge. |
Assistant General Manager State Bank of India, Specialised Commercial Branch, Near Gandhigram Station, Ahmedabad – 380006 |
|
6) Date and brief description of instrument modifying the charge |
14.05.2005 Supplemental general agreement and hypo of goods book debts and other assets dated 14.05.2005 along with others supplemental agreements of even date |
|
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. |
Original charge was created by the company by executing deed of hypo dated 27.03.2003 and modified subsequently on 24.05.2004. |
|
Corporate
identity number of the company |
U30007GJ2002PLC040659 |
|
Name of the
company |
SHREEJI LASER TECHNOLOGY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
E-30, G. I. D.
C., Electronics Estate, Sector – 26, Gandhinagar – 382 028, Gujarat, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
State Bank of
India Specialised Commercial Branch, Near Gandhigram Station, Ashram
Road, Ahmedabad – 380006, Gujarat, India |
|
Nature of
instrument creating charge |
Agreement of loan
cum hypothecation dated 29th March, 2007 executed at Ahmedabad for
limits sanctioned of Rs.91.500 millions and hypothecation of goods, book debts,
and other movable assets. Land and building as well as plant and machinery of
the company dated 29th March, 2007 alongwith other supplement
agreements of even date. |
|
Date of
instrument Creating the charge |
29.03.2007 |
|
Amount secured by
the charge |
Rs.91.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest Rate of interest on Cash Credit Facility of Rs.81.500 millions is as
specified by SB-2 rating 1.50% over SBAR Rate of interest on Term Loan of Rs.10.000 millions is as specified by
SBTL – 2 rating. ·
Terms of
repayment Terms of repayment in case of Cash Credit facility of Rs.81.500
millions is on Demand while in case of Term Loan it is payable by 20
quarterly installments of Rs.0.500 million each and first installment to
commence on April 2007 and last installment falls due on March 2012. ·
Margin Raw Material – 25% Stock in process – 40% Finished Goods – 40% Receivables of 90 days – 50% EPC – 10% Letters of credit – 25% Bank Guarantee – 25% Term Loan – 33.33% ·
Extent and
operation of the charge Hypothecation of goods, receivables, movables, Plant and Machinery,
Land and Building of the company Cash credit – Rs.60.000 millions (containing sub limit against receivables of Rs.27.500 millions and also
EPC/FBD of Rs.27.500 millions within CC) SLC – Rs.6.500 millions Total FBWC – Rs.66.500 millions L/C – Rs.15.000 millions (Containing B/G within L/C of Rs.5.000
millions) NFBWC – Rs.15.000 millions Total – Rs.81.500 millions Term Loan – Rs.10.000 millions |
|
Particulars of
the property charged |
Hypothecation of
goods, receivables, movable assets, land and building and plant and machinery
of the company Stock (Raw Material,
WIP, Finished Goods) lying at Gandhinagar and SEZ premises. Site Receivables of
Gandhinagar and SEZ, Surat Movables assets
lying at Gandhinagar and SEZ, Surat Land and Building
situated at Gandhinagar and SEZ, Surat Plant and
Machinery situated at Gandhinagar and SEZ, Surat Pledge of 3.000
millions shares of face value of Rs.1.000 million of Sahajanand Laser
Technology Limited |
|
Particulars of
the present modification |
In view of the
Enhancement of credit facilities to the extent of overall limit of Rs.91.500
millions vide sanction letter dated 21.09.2006 as well as term loan of
Rs.10.000 millions with a tenor of 60 months vide sanction letter dated
19.02.2007 and executing the agreement of loan for overall limit, the said
charges is modified to the extent as under: Total FBWC –
Rs.66.500 millions Total NFBWC –
Rs.15.000 millions Term Loan –
Rs.10.000 millions Total Rs.91.500
millions |
WEBSITE DETAILS
ATTACHED
Manufacturer of laser marking and engraving, laser
cutting, laser welding, solar cell scribing /
micro-machining system in industrial segment.
Fiber laser cutting with linear drive
Fiber laser marking system with automations like Laser
Marking for Bearing, Laser Marking for Piston Ring, Laser Marking for Valves,
Laser Marking for Nozzles, Laser Marking for jewellery.
Laser
Solutions For Diamond Processing Industry: Diamond Planning and Marking (Diamond
Planner), Laser
diamond sawing, Laser diamond bruiting, Laser diamond blocking, Laser diamond
blocking - bruiting - sawing and diamond auto-blocking and auto-polishing, etc.
Laser Solutions For Jewellery Industry: Jewellery
Hallmarking (Laser Marking / Engraving / Designing), Jewellery Laser Welding
and Laser Cutting system
Subject offers total solutions for a wide range of laser systems for
various industrial applications such as: Cutting, Marking, Micro machining,
Solar cell cutting etc. They also manufacture CNC linear (X,Y, Z) and rotary
positioning systems for inspection and automation purpose.
Foundation
of subject had been laid in 1989 as “Sahajanand Electronics” by manufacturing
textile controls and automation thereof. In 1990, Company had opened Job Center
for Diamond Processing and thus introduced itself into laser field. In 1991, it
was converted in “Sahajanand Laser Mechanic” and started to manufacture laser
systems for diamond processing. Very next year, it started to work as
“Sahajanand Laser Technology”.
In 1994,
at IMTEX, they introduced Laser system for marking while in the 1996, they
entered in field of CO2 Laser System for cutting application. In 1997,
introduced first high-power CO2 laser system for sheet metal cutting.
Simultaneously, they supplied SPM systems like Laser welding, medical systems
for surgical application.
After a
decade of LASER journey, they are proud to introduce ourselves, SAHAJANAND
LASER TECHNOLOGY, as a special purpose machine-manufacturing group of LASER
systems in India. They are specialized in exclusive designing, developing,
manufacturing, marketing and servicing sophisticated laser systems and CNC
industrial machineries.
They are
continuously doing RandD activities and as a result of which they have
developed indigenous laser based production range. They have 80% market share
of laser marking systems in India and in addition, they have supplied more than
600 laser systems for diamond processing application.
After
nuclear test “Pokhran-2”, U.S.A. sanctions were imposed on India for
technological deal; particularly for their Defense and Space programs. At that
time, they supplied high-power CO2 laser system to their defense sector Ordnance Factory, Dumdum and
thus have shown their patriotic spirit.
In 70’s,
India was importing laser systems from Israel but now; they export such
machines to Israel and other countries such as Thailand, Srilanka, U.S.A.,
Russia, U.A.E., South Africa, Namibia and Armenia.
It is the commitment of SAHAJANAND LASER TECHNOLOGY to provide hi-tech advance
processing solution at lower cost to the potential customers of all industrial
segments with company’s multi-disciplinary and multi-functional
brains-hearts-hands working cohesively. The synergy created through integral
working of Laser Specialists, Application Engineers, Diamond experts, Software
Specialists, Electronics and Mechanical engineers
Strength
::
High level
technology business is being boosted by committed - highly motivated and hard
working staff. Lean manufacturing process, ability to respond market need
promptly, competitive price – all are strengthened by their in-house RandD
center.
The company
Under the
dynamic and inspirational leadership of Mr. Arvind Patel and its inspirational
implementations by Mr. Dinesh Patel. Sahajanand Laser Technology set up its
base in Gandhinagar, Gujarat, India in 1992. Making forays in the ‘sunrise’
laser technology it was just a matter of time that domestic leadership was
achieved in the field.
Next to
follow was a revolution and an area where excellent application that took shape
to change the face of Indian diamond industry. It was due to their Arvind
Patel’s research and acumen that he was
awarded the prestigious Dr. Vikram Sarabhai Young Scientist Award for his
invaluable contribution in the Industry Application of Laser Technology,
particularly for Diamond industry.
11 years of leadership in the field of Laser Technology application has
provided them ample experience to understand and provide the right kind of
solutions for their customers. Their Laser Marking Machines and CNC systems for
diamond industry are developed and backed by in-house software research and development.
They develop, design and integrate automation with their standard laser system.
Their team of experts, proffer customer specific solutions, which are flexible
and user friendly. They cost effective, production enhancing and over all
increase the efficiency for their customers. They also train their client’s
operators and provide adequate spares with efficient after-sales services.
Last year
they sold over 20 laser marking systems taking their tally to 50 so far. They
have already supplied over 600 systems in the diamond sector similar to Nd: YAG
laser marking systems.
They have exported their laser systems and CNC solutions to Russia, Thailand, Sri Lanka and Israel.
They look forward to making inroads in other countries within a short time to
attain their vision of global leadership.
Their technically qualified manpower is competent enough to provide excellent
after-sales services and Annual Maintenance Services to all their customers.
They maintain floating stocks of spares as they are aware the industries are in
a 24x7x365 operation mode to ensure uninterrupted production for their clients.
Subject is the most experienced,
technologically superior organization and having one of the largest
installation base with 80% market share in industrial and CNC solutions.
CMT REPORT
(Corruption, Money Laundering and Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.79 |
|
UK Pound |
1 |
Rs.80.05 |
|
Euro |
1 |
Rs.64.56 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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 |
|