1. Summary Information
|
|
|
Country |
|
|
Company Name |
SNEHANJALI RETAIL PRIVATE LIMITED |
Principal Name 1 |
MR. HARISH K MULCHANDANI |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. KANAIYALAL MULCHANDANI |
|
|
|
Registration # |
11 – 027571 |
|
Street Address |
1 BONAZANA
ARCADE, |
||
|
Established Date |
26.06.1982 |
SIC Code |
-- |
|
Telephone# |
91-22-26787247 |
Business Style 1 |
RETAIL CHAIN SHOWROOM |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
ELECTRONICS |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.1,500,000/- |
Product Name 3 |
-- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS – 100% |
Banking |
HDFC BANK |
|
Public Limited Corp. |
NO |
Business Period |
27 YEARS |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
BA (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
C.E.O |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
17,435,000 |
Current Liabilities |
11,732,000 |
|
Inventories |
53,403,000 |
Long-term Liabilities |
181,054,000 |
|
Fixed Assets |
169,257,000 |
Other Liabilities |
5,732,000 |
|
Deferred Assets |
0 |
Total Liabilities |
198,518,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
40,077,000 |
|
|
|
Net Worth |
41,577,000 |
|
Total Assets |
240,095,000 |
Total Liab. & Equity |
240,095,000 |
|
Total Assets (Previous Year) |
223,618,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
572,600,000 |
Net Profit |
5,451,000 |
|
Sales(Previous yr) |
476,000,000 |
Net Profit(Prev.yr) |
2,398,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
SNEHANJALI RETAIL PRIVATE LIMITED (w.e.f.21.06.2007) |
|
|
|
|
Formerly Known
As : |
SNEHANJI ESTATES
AND TRADING PRIVATE LIMITED |
|
|
|
|
Registered Office : |
1 Bonazana Arcade, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
26.06.1982 |
|
|
|
|
Com. Reg. No.: |
11 – 027571 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U70100MH1982PTC027571 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS29499B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCS1600H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Retail Chain Showroom for Electronics |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 160000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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 dealing 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
1 Bonazana Arcade, |
|
Tel. No.: |
91-22-26787247 |
|
Mobile No.: |
91-9619252244 (Mr. Kanwalal Mulchandani) |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Showroom : |
Located at
|
|
|
|
|
Corporate Office : |
A/2, RK Industries Compound, Opposite Sadhna Industries, Near Oshiwara
Petrol Pump, Oshiwara Bridge, S.V Road, Jogeshwari, Mumbai – 400 102,
Maharashtra, India |
|
Tel No : |
91-22-26782816 |
|
Area : |
1000 Sq. ft |
|
Location : |
Owned |
DIRECTORS
As On : 15.09.2010
|
Name : |
Mr. Harish K Mulchandani |
|
Designation : |
Director |
|
Address : |
101, Gopi Kunj, |
|
Date of Birth/Age : |
03.07.1951 |
|
Qualification : |
MBBS |
|
Date of Appointment : |
07.05.1986 |
|
DIN No : |
01103363 |
|
|
|
|
Name : |
Mr. Kanaiyalal Mulchandani |
|
Designation : |
Director |
|
Address : |
301, Purshottam Villa, 12th and |
|
Date of Birth/Age : |
10.07.1954 |
|
Qualification : |
Sybcom |
|
Date of Appointment : |
07.05.1986 |
|
DIN No : |
01101998 |
|
|
|
|
Name : |
Mrs. Rashmi Mulchandani |
|
Designation : |
Director |
|
Address : |
301, Purshottam Villa, 12th and |
|
Date of Birth/Age : |
12.10.1959 |
|
Qualification : |
HSC |
|
Date of Appointment : |
07.05.1986 |
|
DIN No : |
01025975 |
|
|
|
|
Name : |
Mrs. Rakhee Mulchandani |
|
Designation : |
Director |
|
Address : |
101, Gopi Kunj, |
|
Date of Birth/Age : |
30.04.1959 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
07.05.1986 |
|
DIN No : |
01101945 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kanaiyalal Mulchandani |
|
13000 |
|
Harish Mulchandani |
|
13000 |
|
Rashmi Mulchandani |
|
12000 |
|
Rakhee Mulchandani |
|
12000 |
|
Niraj H. Mulchandani |
|
12500 |
|
Yogesh M. Jaswani |
|
5000 |
|
Deepa N. Mulchandani |
|
13000 |
|
Manya Mulchandani |
|
13000 |
|
Harish K. Mulchandani – HUF |
|
11500 |
|
Amit H. Mulchandani |
|
10500 |
|
Niraj H. Mulchandani – HUF |
|
10500 |
|
Amit H. Mulchandani – HUF |
|
10000 |
|
Kanaiyalal Mulchandani- HUF |
|
13000 |
|
Yogesh M. Jaiswani (HUF) |
|
1000 |
|
Total |
|
150000 |
AS ON 15.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Retail Chain Showroom for Electronics |
GENERAL INFORMATION
|
No. of Employees : |
112 (Approximately) |
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Bankers : |
·
UTI Bank Limited, Western Zonal Office, Fortune
2000, ‘C’ Wing, Ground Floor, Bandra Kurla Complex, Bandra (East),
Mumbai-400051, Maharashtra, India ·
United Bank of India, Khar(West) Branch, Gopi
Kunj, Plot No.506, 1st Road, Mumbai-400052, Maharashtra, India ·
Standard Chartered Bank, Standard Chartered
Tower, 201 B/1, Western Express Highway, Goregaon (East), Mumbai-400063,
Maharashtra, India ·
HDFC Bank ·
ICICI Bank Limited ·
Axis Bank Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Agrawal and Chhajed Chartered Accountant |
|
Address : |
1307 Navjivan Commercial Premises, |
|
Pan No.: |
AAFFA5707M |
|
Tel No.: |
91-22-23060473 / 23060474 / 28878540 |
|
Fax No.: |
91-22-28866801 |
|
E-Mail : |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.500 |
1.420 |
1.420 |
|
|
2] Share Application Money |
0.000 |
20.000 |
0.000 |
|
|
3] Reserves & Surplus |
40.077 |
30.625 |
28.227 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
41.577 |
52.045 |
29.647 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
133.631 |
87.535 |
94.866 |
|
|
2] Unsecured Loans |
47.423 |
49.081 |
5.584 |
|
|
TOTAL BORROWING |
181.054 |
136.616 |
100.450 |
|
|
DEFERRED TAX LIABILITIES |
5.732 |
3.811 |
1.342 |
|
|
|
|
|
|
|
|
TOTAL |
228.363 |
192.472 |
131.439 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
169.257 |
176.625 |
112.906 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
53.403
|
23.745
|
14.335
|
|
|
Sundry Debtors |
0.406
|
0.000
|
0.000
|
|
|
Cash & Bank Balances |
0.985
|
2.485
|
1.186
|
|
|
Other Current Assets |
6.044
|
3.301
|
3.719
|
|
|
Loans & Advances |
10.000
|
2.000
|
4.100
|
|
Total
Current Assets |
70.838
|
31.531 |
23.340 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.273
|
10.532 |
|
|
|
Other Current Liabilities |
0.135
|
4.930
|
3.575
|
|
|
Provisions |
1.324
|
0.222
|
1.232
|
|
Total
Current Liabilities |
11.732
|
15.684
|
4.807
|
|
|
Net Current Assets |
59.106
|
15.847
|
18.533
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
228.363 |
192.472 |
131.439 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
572.600 |
476.000 |
|
|
|
|
Other Income |
25.399 |
14.344 |
|
|
|
|
TOTAL |
597.999 |
490.344 |
68.912 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
590.844 |
485.172 |
71.965 |
|
|
|
Financial |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
TOTAL |
590.844 |
485.172 |
71.965 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
7.155 |
5.172 |
(3.053) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.704 |
2.774 |
1.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
5.451 |
2.398 |
(4.820) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
36.34 |
17.00 |
33.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.91
|
0.49
|
(6.99) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.25
|
1.09
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.98
|
2.48
|
(2.24) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.16
|
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.77
|
4.75
|
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.04
|
2.01
|
4.86 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
of the company has been shifted from 101, Gopi Kunikhar Danda Road, Khar (West),
Mumbai – 400 052, Maharashtra, India to the present address w.e.f. 01.05.2007
FINANCIAL RESULTS
The company has received turnover of Rs. 572.600 millions (P. Y. 476.000
millions) and net Profit after tax of Rs. 545.100 millions (P. Y. 2.398 millions).
FORM 8
|
Corporate
identity number of the company |
U70100MH1982PTC027571 |
|
Name of the
company |
SNEHANJALI RETAIL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1 Bonazana Arcade, S.V Road, Amboli, Opposite Aboli Railway Gate,
Andheri, Mumbai – 400 058, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Standard Chartered Bank, Standard Chartered Tower, 201 B/1, Western
Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum of Entry |
|
Date of
instrument Creating the charge |
30.09.2010 |
|
Amount secured by
the charge |
Rs. 50.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 10% p.a (base rate + 2.75%) variable link with base rate.
(presently base rate is 7.25%) Terms of
repayment Repayable In 180 Months Emi of Rs.0.537 millions Margin 36%
of the market value of the property or the approved amount whichever is higher Extent and
operation of the charge First charge |
|
Short particulars
of the property charged (Including location of the property) |
Shop
no.1, 2, 3, 2A and 3A on Ground Floor and Shop No.3, Basement and 10 car
Parkings at Bonanza Arcade, Amboli Naka, Andheri (w), Mumbai - 400 058. |
FIXED ASSETS:
v Air Conditioner
v Furniture and Fixtures
v Commercial Premises
v Electric Transformer
v Lift
v Boiser Building
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.44.40 |
|
|
1 |
Rs.73.26 |
|
Euro |
1 |
Rs.65.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|
|
>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.