MIRA INFORM REPORT
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Report Date : |
08.04.2011 |
Note : The Correct Name of The Company is SIBY MINING AND
INFRASTRUCTURE PRIVATE LIMITED
IDENTIFICATION DETAILS
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Name : |
SIBY MINING AND INFRASTRUCTURE PRIVATE LIMITED (w.e.f. 01.04.2011) |
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Formerly Known
As : |
SIBY MINING SERVICES PRIVATE LIMITED |
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Registered
Office : |
104, Sirisampada Hitech, Kavuri Hills, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.04.2000 |
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Com. Reg. No.: |
01-034364 |
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CIN No.: [Company Identification
No.] |
U14102AP2000PTC034364 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS04182D |
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PAN No.: [Permanent Account No.] |
AAECS9130L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer Of Blasting Mats, Providing Services Of Blasting,
Vibration Analysis, Excavation |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 116800 |
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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 : |
Subject is an established company having satisfactory track. Trade
Relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY (General Details)
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Name : |
Mr. Siby |
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Designation : |
Director |
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Contact No.: |
91-9849009174 |
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Date : |
06.04.2011 |
LOCATIONS
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Registered Office : |
104, Sirisampada Hitech, Kavuri Hills, Hitech City, Cyberabad,
Hyderabad – 500081, Andra Pradesh, India |
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Tel. No.: |
91-40-23112113 / 40058112 |
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Mobile No.: |
91-9849009174 (Mr. Siby -
Director) |
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Fax No.: |
91-40-23112148 |
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E-Mail : |
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Website : |
DIRECTORS
As on 24.09.2010
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Name : |
Ms. Anju Kurion Lux |
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Designation : |
Director |
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Address : |
#8-2-310 / 13 / C-2, Pooja Mansion Road No.14, Banjara Hills,
Hyderabad - 500034, Andhra Pradesh, India |
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Date of Birth/Age : |
19.05.1973 |
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Date of Appointment : |
01.04.2004 |
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DIN : |
00730485 |
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Name : |
Mr. Siby Madathiparampil Lukose |
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Designation : |
Managing Director |
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Address : |
#8-2-310 / 13 / C-2, Pooja Mansion Road No.14, Banjara Hills,
Hyderabad - 500034, Andhra Pradesh, India |
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Date of Birth/Age : |
05.05.1967 |
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Date of Appointment : |
28.04.2000 |
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DIN : |
01363036 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2010
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Names of Shareholders |
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No. of Shares |
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Anju Kurion Lux |
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268000 |
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Siby Madathiparampil Lukose |
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10000 |
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Total |
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278000 |
As on 24.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer Of Blasting Mats, Providing Services Of Blasting, Vibration
Analysis, Excavation |
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Services Offered : |
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Terms : |
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Selling : |
Cash / Credit (30 / 60 / 90 days) |
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Purchasing : |
Cash / Credit (60 / 90 days) |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V. Ramchandra Rao Chartered Accountant |
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Address : |
H. No.1-2-56/55, Plot No.1039, Greoubed Floor, Street No.5, Advocates
Colony, Himayatnagar, Hyderabad – 500029, Andhra Pradesh, India |
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Mobile No.: |
91-9949057690 |
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E-Mail : |
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PAN No.: |
ABNPV0603L |
CAPITAL STRUCTURE
As on 24.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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278,000 |
Equity Shares |
Rs.10/- each |
Rs.2.780 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.780 |
2.780 |
2.780 |
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2] Share Application Money |
1.633 |
0.045 |
0.000 |
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3] Reserves & Surplus |
24.789 |
19.651 |
13.638 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
29.202 |
22.476 |
16.418 |
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LOAN FUNDS |
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1] Secured Loans |
19.912 |
44.038 |
74.396 |
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2] Unsecured Loans |
32.838 |
16.609 |
4.338 |
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TOTAL BORROWING |
52.750 |
60.647 |
78.734 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
81.952 |
83.123 |
95.152 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
66.092 |
70.856 |
89.596 |
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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 |
2.812 |
2.080 |
0.328 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
20.789
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41.866 |
22.574 |
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Cash & Bank Balances |
1.190
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2.719 |
0.514 |
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Other Current Assets |
4.315 |
5.555 |
7.285 |
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Loans & Advances |
43.899
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1.038 |
1.277 |
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Total
Current Assets |
70.193
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51.178 |
31.650 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
10.254
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11.096 |
13.305 |
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Other Current Liabilities |
42.478
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24.413 |
7.993 |
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Provisions |
4.413
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5.484 |
5.127 |
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Total
Current Liabilities |
57.145
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40.993 |
26.425 |
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Net Current Assets |
13.048
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10.185 |
5.225 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.002 |
0.003 |
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TOTAL |
81.952 |
83.123 |
95.152 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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9.499 |
10.025 |
12.147 |
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Contract Jobs (Earth Work Receipts) |
138.519 |
221.281 |
209.590 |
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Other Income |
0.325 |
6.853 |
0.295 |
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TOTAL (A) |
148.343 |
238.159 |
222.032 |
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Less |
EXPENSES |
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Operatin Expenses |
84.893 |
168.194 |
140.058 |
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Administrative cost |
36.273 |
34.705 |
47.647 |
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Preliminary Expenses Written off |
0.002 |
0.002 |
0.002 |
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TOTAL (B) |
121.168 |
202.901 |
187.707 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.174 |
35.259 |
34.325 |
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Less |
FINANCIAL
EXPENSES (D) |
4.453 |
7.370 |
7.440 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22.721 |
27.889 |
26.885 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.292 |
18.426 |
15.640 |
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PROFIT BEFORE
TAX (E-F) (G) |
8.429 |
9.463 |
11.245 |
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Less |
TAX (I) |
4.023 |
5.204 |
4.822 |
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PROFIT AFTER TAX
(G-I) (J) |
4.406 |
4.259 |
6.423 |
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Add |
Deferred Tax |
0.732 |
1.753 |
0.804 |
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BALANCE CARRIED
TO THE B/S |
5.138 |
6.012 |
7.227 |
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Earnings Per
Share (Rs.) |
15.85 |
-- |
-- |
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Expected Sales ( 2010-2011- ) : Rs.400.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
2.97
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1.79 |
2.89 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.69
|
4.09 |
5.07 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.18
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7.75 |
9.27 |
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Return on Investment (ROI) (PBT/Networth) |
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0.29
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0.42 |
0.68 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.76
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4.52 |
6.41 |
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Current Ratio (Current Asset/Current Liability) |
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1.23
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1.25 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE AND
GROWTH PLANS :
As financial affected all construction and
infrastructure companies in
They are expecting to do at least Rs.300.000
millions turnover in the fiscal year 2010-2011. this they will achieve by
strongly improving their Tyre Mats business and also by executing few projects
in their construction division
Bankers Charges Report
as per Registry
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Name of the company |
SIBY MINING
SERVICES PRIVATE LIMITED |
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Presented By |
Siby M Lukose –
Managing Director |
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1) Date and description of instrument creating the change |
Agreement No.LOF
574 Deed of hypothecation 31.05.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.3.743 million |
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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 |
Tata Hitachi Ex
200 LC Hydraulic Bache |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Repayable in 35
Installments commencing from 31.05.2004 |
FIXED ASSETS :
- Furniture
- Office Equipment
- Motor Cycle
- Car
- Laptop / Computers
- Machinery
- Vibratory Roller
- Land
- Dozer
- Vehicle
- Tippers
- Boliro
- Vibro Grapher
- Rock Breaker
- Submersible Pump
- Fax Machine
- Onvertor
- Mobile Phone
- Pffice Container
- Construction Equipment
- Camera
- Generator
- Refrigerator
- Tata Hitachi Ex200
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 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.44.22 |
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|
1 |
Rs.71.97 |
|
Euro |
1 |
Rs.63.23 |
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 |
6 |
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--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.