MIRA
INFORM REPORT
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Report Date : |
02.08.2011 |
IDENTIFICATION DETAILS
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Name : |
SHANKAR RAMCHANDRA EARTHMOVERS PRIVATE LIMITED |
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Registered
Office : |
80/85, Om Laxmi Nivas, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
26.09.1994 |
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Com. Reg. No.: |
11-81442 |
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Capital
Investment / Paid-up Capital : |
Rs.4.640 millions |
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CIN No.: [Company Identification
No.] |
U45102MH1994PTC081442 |
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Legal Form : |
Engaged in the business of Infrastructure Development. |
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Line of Business
: |
Private Limited Liability Company |
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No. of Employees
: |
250 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 120000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The management
has not filed the latest financials of the company with the government
departments. However, trade relations are reported as fair. Business is
active. Payment terms are unknown. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Shriram |
|
Designation : |
Project Manager |
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Contact No.: |
91-9860999281 |
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Date : |
29.07.2011 |
LOCATIONS
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Registered Office : |
80/85, Om Laxmi Nivas, |
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Tel. No.: |
91-20-25679574 |
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Mobile No.: |
91-9860999281 (Mr. Shriram) |
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Fax No.: |
91-20-25679573 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 26.09.2009
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Name : |
Mr. Ramchandra Damodar Kad |
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Designation : |
Managing Director |
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Address : |
Damodari, At Post – Chakan, Tal. – Khed, Chakan, Pune – 410 501, |
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Date of Birth/Age : |
01.06.1962 |
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Date of Appointment : |
26.09.1994 |
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DIN No. : |
01782114 |
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Name : |
Mr. Anant Shankar Kad |
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Designation : |
Chairman cum Managing Director |
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Address : |
Damodari, At Post – Chakan, Tal. – Khed, Chakan, Pune – 410 501, |
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Date of Birth/Age : |
19.09.1975 |
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Date of Appointment : |
26.09.1994 |
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DIN No. : |
01899046 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Ramchandra Damodar Kad |
|
23200 |
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Anant Shankar Kad |
|
22200 |
|
Shankar Damodar Kad |
|
1000 |
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Total |
|
46400 |
As on 26.09.2009
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Equity Share Breakup |
|
Percentage of Holding |
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Category |
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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 : |
Engaged in the business of Infrastructure Development. |
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Products Description : |
Civil Contractor |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
250 Approximately |
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Bankers : |
·
Bank of Pune – 411 004, ·
Bank of ·
Bank of Maharashtra, ·
Bank of ·
Bank of ·
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg,
Lower Parel W, Mumbai – 400 013, ·
ICICI Bank Limited ·
United Western Bank ·
Citizens Co-Operative Bank Limited ·
Rajgurunagar Sah Bank ·
Thane Janta Sah Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Borkar and Borkar Chartered Accountant |
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Address : |
1160, Sadashiv Peth, Hatti Ganpati, Pune – 411 030, |
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Tel. No.: |
91-20-24452440 |
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Associates/Subsidiaries : |
Shivshankar Infrastructure |
CAPITAL STRUCTURE
As on 26.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
46400 |
Equity Shares |
Rs.100/- each |
Rs.4.640
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
4.640 |
4.640 |
4.640 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
24.608 |
19.594 |
12.334 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
29.248 |
24.234 |
16.974 |
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LOAN FUNDS |
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1] Secured Loans |
16.798 |
12.624 |
4.275 |
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2] Unsecured Loans |
0.722 |
0.765 |
3.765 |
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TOTAL BORROWING |
17.520 |
13.389 |
8.040 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
46.768 |
37.623 |
25.014 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
29.771 |
26.755 |
11.029 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
7.793 |
5.921 |
6.692 |
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DEFERREX TAX ASSETS |
3.146 |
1.741 |
1.278 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
6.210
|
4.519 |
4.180 |
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Sundry Debtors |
20.142
|
13.724 |
1.401 |
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|
Cash & Bank Balances |
2.453
|
1.163 |
1.115 |
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Other Current Assets |
45.864
|
28.371 |
2.627 |
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Loans & Advances |
11.829
|
7.285 |
27.022 |
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Total
Current Assets |
86.498
|
55.062 |
36.345 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
5.207 |
2.293 |
1.587 |
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Other Current Liabilities |
68.930
|
45.418 |
24.067 |
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Provisions |
6.303
|
4.145 |
4.676 |
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Total
Current Liabilities |
80.440
|
51.856 |
30.330 |
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Net Current Assets |
6.058
|
3.206 |
6.015 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
46.768 |
37.623 |
25.014 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Contract Receipts and Other Income |
296.872 |
180.411 |
95.311 |
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Closing Stock |
0.610 |
0.567 |
0.180 |
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Work in Progress (Cl. Stock) |
5.600 |
3.953 |
4.000 |
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TOTAL (A) |
303.082 |
184.931 |
99.491 |
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Less |
EXPENSES |
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Operating and Other Expenses |
275.963 |
162.483 |
88.645 |
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|
Opening Stock |
4.519 |
4.180 |
1.180 |
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TOTAL (B) |
280.482 |
166.663 |
89.825 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.600 |
18.268 |
9.666 |
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Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22.600 |
18.268 |
9.666 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.368 |
5.006 |
3.746 |
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PROFIT BEFORE
TAX (E-F) (G) |
12.232 |
13.262 |
5.920 |
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Less |
TAX (H) |
4.898 |
3.682 |
1.914 |
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PROFIT AFTER TAX
(G-H) (I) |
7.334 |
9.580 |
4.006 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.246 |
10.313 |
9.258 |
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Less |
APPROPRIATIONS |
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|
Proposed Dividend |
2.320 |
2.320 |
2.320 |
|
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|
Transfer to Reserve |
1.364 |
1.327 |
0.631 |
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|
BALANCE CARRIED
TO THE B/S |
19.896 |
16.246 |
10.313 |
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Earnings Per
Share (Rs.) |
158.06 |
-- |
-- |
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Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
320.000 |
250.000 |
Expected Sales (2011-2012) : Rs.500.000 Millions
The above information has been parted by Mr. Shriram
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
2.42
|
5.18 |
4.03 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.52
|
16.21 |
12.50 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.55 |
0.35 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
3.35
|
2.69 |
2.26 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
1.06 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
As
on 31.03.2009 Rs.
in millions |
As
on 31.03.2008 Rs.
in millions |
As
on 31.03.2007 Rs.
in millions |
|
Creditors for Expenses |
2.485 |
0.214 |
1.308 |
|
Creditors for Goods |
0.296 |
1.729 |
0.279 |
|
Creditors for Professional Fees |
1.728 |
0.105 |
0.000 |
|
Creditors for Rent |
0.051 |
0.043 |
0.000 |
|
Creditors for Transport |
0.647 |
0.202 |
0.000 |
|
Total |
5.207 |
2.293 |
1.587 |
NOTE
The Registered Office of the company has been shifted from Damodari, at
Post Chakan, Tal Khed, Pune – 410 501,
FINANCIAL RESULTS
The Company expects to do good business and earn good profits during the
current year.
TRADE REFERENCES
·
Sandeep Jagdone and Associates
·
Mirkar Patil
FORM 8
|
Corporate identity number of the company |
U45102MH1994PTC081442 |
|
Name of the company |
SHANKAR RAMCHANDRA EARTHMOVERS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
80/85, Om Laxmi Nivas, |
|
This form is for |
Creation of charge |
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Type of charge |
Movable property (not being pledge) |
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Particular of charge holder |
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel W, Mumbai – 400 013,
|
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Nature of instrument creating charge |
Agreement for Loan and Guarantee. (Contracts No.: 3349663) |
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Date of instrument Creating the charge |
29.12.2010 |
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Amount secured by the charge |
Rs.2.616 millions |
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Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Interest @ 9.85 % p.a. Terms of Repayment The Loan is repayable in 36 EMIs of Rs.0.084 million starting from 20th
January, 2011 ending on 20th December, 2013. Margin As may be stipulated by bank from time to time. Extent and Operation of the charge The Company hypothecates to and charges in favour of the Bank by way
of first and exclusive charge of the Vehicle/ equipment as security for the
repayment/payment by the company of the loan granted or to be granted to the
company by the Bank together with all
fees, interest, costs and expenses incurred/to be incurred by the Bank and
all other monies payable or to become payable by the company to the Bank. Others The Bank shall be absolutely entitled and have full power and
authority to sell, assign or transfer in any manner, in whole or in part, and
in such manner and on such terms as the Bank may decide, including reserving
a right to the Bank to retain its power to proceed against the company on
behalf of the purchaser, assignee or transferee, any or all outstanding dues
of the company, to any third party of the Bank's choice without reference to
or without written intimation to the company. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of Equipment namely : Schwing Concrete Pump BP1800 (Year
Of Manufacture: 2010) |
FIXED ASSETS
·
Plant and Machinery
·
Computers and Peripherals
·
Lab Equipments
·
Vehicles
·
Furniture and Fixtures
·
Walkie Talkie
·
Mobile Phone
·
Xerox Machine
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.44.05 |
|
|
1 |
Rs.72.40 |
|
Euro |
1 |
Rs.63.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.