MIRA
INFORM REPORT
|
Report Date : |
01.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SANATAN AUTOPLAST PRIVATE LIMITED |
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Registered
Office : |
R-41, Ground Floor, Khirki Extention, Malviya Nagar, New Delhi-110017,
Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
20.06.2007 |
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Com. Reg. No.: |
55-164951 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.300 millions |
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CIN No.: [Company Identification
No.] |
U25209DL2007PTC164951 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RTKS11924D |
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PAN No.: [Permanent Account No.] |
AALCS1036Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of Air Conditioner Parts and Automobile
Parts. |
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No. of Employees
: |
22 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 40000 |
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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
|
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 |
LOCATIONS
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Registered Office : |
R-41, Ground Floor, Khirki Extention, Malviya Nagar, New Delhi-110017,
Delhi |
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Mobile No.: |
91-9811882288 (Mr. Anil Kukreja) |
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E-Mail : |
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Website : |
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Factory : |
Plot No.61/8, Industrial Area, N I T |
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Tel. No.: |
91-129-4025750/ 4024751 |
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Fax No.: |
91-129-2232516/ 4025831 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Anil Kukreja |
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Designation : |
Director |
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Address : |
2M/24, Bpnit, Faridabad-121006, Haryana, India |
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Date of Appointment : |
20.06.2007 |
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DIN No : |
02165050 |
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Name : |
Mr. Laxman Dass Kukreja |
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Designation : |
Director |
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Address : |
2M/24, Bpnit, Faridabad-121006, Haryana, India |
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Date of Appointment : |
20.06.2007 |
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DIN No : |
02171088 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Anil Kukreja |
5000 |
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Laxman Das Kukreja |
305000 |
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Draupadi Devi |
20000 |
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Total |
330000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of Air Conditioner Parts and Automobile
Parts. |
GENERAL INFORMATION
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No. of Employees : |
22 (Approximately) |
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Bankers : |
·
Bank of India, Faridabad SME Branch, 14/4, Mathura
Road, Faridabad-121003, Haryana, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rajan Chhabra and Company Chartered Accountant |
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Address : |
32A, Sector-11E, Faridabad-121006, Haryana, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
330000 |
Equity Shares |
Rs.10/- each |
Rs. 3.300
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
3.300 |
1.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.815 |
1.848 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
10.115 |
2.948 |
0.100 |
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LOAN FUNDS |
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|
1] Secured Loans |
11.387 |
6.874 |
0.000 |
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2] Unsecured Loans |
3.167 |
3.964 |
0.000 |
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TOTAL BORROWING |
14.554 |
10.838 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.783 |
0.157 |
0.000 |
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TOTAL |
25.452 |
13.943 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.083 |
12.411 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.218
|
2.289 |
0.000 |
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Sundry Debtors |
20.894
|
15.011 |
0.000 |
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Cash & Bank Balances |
1.158
|
0.052 |
0.073 |
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Other Current Assets |
1.796
|
1.314 |
0.000 |
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Loans & Advances |
2.564
|
0.600 |
0.000 |
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Total
Current Assets |
29.630
|
19.266 |
0.073 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
20.169
|
13.616 |
0.000 |
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Other Current Liabilities |
4.215
|
3.314 |
0.000 |
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Provisions |
0.892
|
0.825 |
0.000 |
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Total
Current Liabilities |
25.276
|
17.755 |
0.000 |
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Net Current Assets |
4.354
|
1.511 |
0.073 |
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MISCELLANEOUS EXPENSES |
0.015 |
0.021 |
0.027 |
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TOTAL |
25.452 |
13.943 |
0.100 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
|
92.816 |
64.568 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Financial Charges |
|
88.131 |
61.738 |
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Depreciation |
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Advertising Expenses |
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TOTAL |
|
88.131 |
61.738 |
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PROFIT BEFORE
TAX |
|
4.685 |
2.830 |
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Less |
TAX |
|
1.519 |
0.982 |
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PROFIT AFTER TAX
|
|
3.166 |
1.848 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.41
|
2.86 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.24
|
8.93 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.46
|
0.96 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.02
|
9.75 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.08 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
of the company has been shifted from 11/57, Geeta Colony, New Delhi – 110031,
India to the present address w.e.f.05.02.2009.
OPERATIONS AND
FUTURE PROSPECTS
Due to various steps taken by the Board, the company has made the net
profit of Rs. 3.166 millions during the financial year ended 31st
March, 2010. It is expected that the performance of the company will improve in
future.
FORM 8
|
Corporate
identity number of the company |
U25209DL2007PTC164951 |
|
Name of the
company |
SANATAN
AUTOPLAST PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
R-41, Ground Floor, Khirki Extention, Malviya Nagar, New Delhi-110017,
Delhi |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Bank of India, Faridabad SME Branch, 14/4, Mathura Road,
Faridabad-121003, Haryana, India |
|
Nature of
instrument creating charge |
Supplemental
deed of hypothecation dated 21.03.2011. |
|
Date of
instrument Creating the charge |
21.03.2011 |
|
Amount secured by
the charge |
Rs. 25.961 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash
Credit and TL I at 4% over Base rate presently 13.5% p.a., TL II and TL III
at 5% over Base rate presently 14.5% p.a. and TL IV at 5.25% over Base rate
presently 14.75% p.a. Terms of
repayment Working
capital facilities on demand. Term Loan facilities (existing) as per original
sanctions. Term Loan (New) in 60 equated installments of Rs.0.236 million
each w.e.f. September 2011. Margin As
per Bank norms. Extent and
operation of the charge First
charge on assets to secure limits aggregating to Rs.25.961 millions
comprising of Cash credit (stocks) limit of Rs.2.500 millions Book Debts up
to 90 days of Rs.7.500 millions Max. I and II Rs.7.500 millions., TL I of
Rs.0.484 million, TL II of Rs.2.223 millions, TL III of Rs.5.754 millions and
TL IV (New) of Rs.10.000 millions. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of entire stocks of raw material, work in progress, finished goods, stores
and spare parts and other chargeable current assets wherever situate. Hypothecation
of entire book debts and receivables of the company. Hypothecation
of all the plant and machinery of the company. |
|
Charge
identification number of the charge to be modified |
10137390 |
|
Particulars of
the present modification |
The limits
granted to the company stand enhanced from Rs.16.782 millions to Rs.25.961
millions comprising of Cash credit (stocks) limit of Rs.2.500 millions Book
Debts up to 90 days of Rs.7.500 millions Max. I and II Rs.7.500 millions., TL
I of Rs.0.484 million, TL II of Rs.2.223 millions, TL III of Rs.5.754
millions and TL IV (New) of Rs.10.000 millions. Other terms and conditions
remain the same. |
FIXED ASSETS
·
Air Conditioner
·
Cooler
·
Cooling Tower
·
Computers
·
Car
·
Crane
·
Car Omnt
·
Cycle
·
Electrical Fittings
·
Fire Equipments
·
Furniture and Fixtures
·
Fax Machine
·
Fan
·
Generator
·
Lift
·
Moulds and Dies
·
Office Equipments
·
Plant and Machinery
·
Scooter
·
Transformers
·
Water Cooler
·
Weighting Machine
WEB SIDE DETAILS
COMPANY PROFILE
Incorporated in the year 1982, they -
Sanatan Autoplast are engaged in manufacturing, supplying and exporting metal
molding, plastic molding, plastic moulded components and plastic moulded
automotive parts. Over the years, they have established ourselves in the global
market and at present, they are one of the most reliable name in the industry.
Being an honest and dedicated company, they intent to reach new heights by
manufacturing best quality products.
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. 44.15 |
|
|
1 |
Rs. 72.10 |
|
Euro |
1 |
Rs. 63.10 |
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 |
YES |
|
--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 |
NO |
|
--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.