BUSINESS INFORMATION REPORT
1. Summary Information
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Country |
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Company Name |
SHUBHAM CHEMICALS AND SOLVENTS LIMITED |
Principal Name 1 |
Mr. Ajay Kapur |
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Status |
Satisfactory |
Principal Name 2 |
Mrs. Alka Kapur |
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|
|
Registration # |
-- |
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Street Address |
GI-3, |
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Established Date |
19.03.2001 |
SIC Code |
- |
|
Telephone# |
91-11-49996666 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-49996600 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
Phenol |
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# of employees |
20 (approximately) |
Product Name 2 |
Melamine |
|
Paid up capital |
Rs. 11,700,000/- |
Product Name 3 |
- |
|
Shareholders |
Bodies corporate – 8.00% Directors or
relatives of Directors – 92.00% |
Banking |
Corporation Bank |
|
Public Limited Corp. |
No |
Business Period |
10 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
-- |
Country -- |
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
427,929,000 |
Current Liabilities |
355,014,000 |
|
Inventories |
19,276,000 |
Long-term Liabilities |
54,357,000 |
|
Fixed Assets |
8,575,000 |
Other Liabilities |
0 |
|
Deferred Assets |
579,000 |
Total Liabilities |
409,370,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
35,288,000 |
|
|
|
Net Worth |
46,988,000 |
|
Total Assets |
456,359,000 |
Total Liab. & Equity |
456,359,000 |
|
Total Assets (Previous Year) |
403,766,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,893,703,000 |
Net Profit |
4,725,000 |
|
Sales(Previous yr) |
1,577,494,000 |
Net Profit(Prev.yr) |
3,442,000 |
MIRA
INFORM REPORT
|
Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
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Name : |
SHUBHAM CHEMICALS AND SOLVENTS LIMITED |
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Registered Office : |
GI-3, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
19.03.2001 |
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Com. Reg. No.: |
55-110074 |
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Paid-up Capital : |
Rs. 11.700 Millions |
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CIN No.: [Company
Identification No.] |
U24119DL2001PLC110074 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS14882A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of Phenol, Melamine, Nitro Benezene, Hydrogen, Peroxide,
Solvents and Chemicals. |
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|
No. of Employees : |
20 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 180000 |
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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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 : |
GI-3, |
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Tel. No.: |
91-11-49996666 |
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Fax No.: |
91-11-49996600 |
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E-Mail : |
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Website : |
DIRECTORS
As On 30.09.2010
|
Name : |
Mr. Ajay Amrit Lal Kapur |
|
Designation : |
Managing Director |
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Address : |
B – 2/6, |
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Date of Birth: |
02.10.1965 |
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Date of Appointment
: |
19.03.2001 |
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DIN No.: |
00029955 |
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Name : |
Mrs. Alka Kapur |
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Designation : |
Director |
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Address : |
B – 2/6, |
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Date of Birth: |
23.06.1968 |
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Date of
Appointment : |
19.03.2001 |
|
DIN No.: |
00029986 |
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Name : |
Mrs. Chander Kanta Kohli |
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Designation : |
Director |
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Address : |
A – 30, Ashok Vihar, |
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Date of Birth: |
23.07.1968 |
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Date of
Appointment : |
31.03.2002 |
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Date of
Cessation : |
08.03.2010 |
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DIN No.: |
02254948 |
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Name : |
Mr. Prateek Ajay Kapur |
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Designation : |
Director |
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Address : |
B-2/6, |
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Date of Birth: |
09.11.1989 |
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Date of Appointment : |
08.03.2010 |
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DIN No.: |
02308367 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ajay Kapur |
|
985000 |
|
Alka Kapur |
|
50000 |
|
Cahnder Kanta Kohli |
|
30000 |
|
Kuldeep Singh Bedi |
|
5000 |
|
Shubham Apparels Private Limited – |
|
96000 |
|
Prateek Kapur S/O Ajay Kapur |
|
4000 |
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Total |
|
1170000 |
As On 10.03.2011
|
Names of Shareholders |
|
No. of Shares |
|
Atul Jalan Portfolio and Finance Private
Limited – |
|
50000 |
|
Akshat Share Trading Company Private
Limited – |
|
50000 |
|
Mridul Securities Private Limited – |
|
50000 |
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Total |
|
150000 |
As On 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
8.00 |
|
Directors or relatives of Directors |
92.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Phenol, Melamine, Nitro Benezene, Hydrogen, Peroxide,
Solvents and Chemicals. |
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GENERAL INFORMATION
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No. of Employees : |
20 (approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
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Auditors : |
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Name : |
Suresh and Associates Chartered Accountants |
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Address : |
3A, Bigjo’s Tower, |
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Tel. No.: |
91-11-27356916/27356917/47047486 |
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Fax No.: |
91-11-27356918 |
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E-mail : |
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Pan No.: |
AASFS5716D |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
1600000 |
Equity Shares |
Rs.10/- each |
Rs.16.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
1170000 |
Equity Shares |
Rs.10/- each
|
Rs.11.700
millions |
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|
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After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1600000 |
Equity Shares |
Rs.10/- each |
Rs.16.000 millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1320000 |
Equity Shares |
Rs.10/- each
|
Rs.13.200
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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
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1] Share Capital |
11.700 |
10.900 |
10.900 |
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2] Share Application Money |
0.000 |
0.000 |
1.475 |
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3] Reserves & Surplus |
35.288 |
26.562 |
23.120 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
46.988 |
37.462 |
35.495 |
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LOAN FUNDS |
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1] Secured Loans |
26.952 |
21.449 |
26.754 |
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2] Unsecured Loans |
27.405 |
41.412 |
41.932 |
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TOTAL BORROWING |
54.357 |
62.861 |
68.686 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
101.345 |
100.323 |
104.181 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.575 |
4.350 |
5.181 |
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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 |
0.579 |
0.376 |
0.268 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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|
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Inventories |
19.276
|
52.197
|
69.226
|
|
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Sundry Debtors |
404.302
|
295.629
|
383.597
|
|
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Cash & Bank Balances |
15.174
|
31.675
|
25.095
|
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Other Current Assets |
0.000
|
0.000
|
0.000
|
|
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Loans & Advances |
8.453
|
19.539
|
10.085
|
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Total
Current Assets |
447.205
|
399.040
|
488.003
|
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Sundry Creditors |
342.352
|
289.907
|
378.372
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Other Current Liabilities |
7.466
|
9.348
|
6.354
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Provisions |
5.196
|
4.188
|
4.562
|
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Total
Current Liabilities |
355.014
|
303.443
|
389.288
|
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Net Current Assets |
92.191
|
95.597
|
98.715
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.017 |
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TOTAL |
101.345 |
100.323 |
104.181 |
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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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Income |
1893.703 |
1577.494 |
1835.004 |
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Other Income |
40.686 |
29.492 |
30.664 |
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TOTAL (A) |
1934.389 |
1606.986 |
1865.668 |
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Less |
EXPENSES |
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|
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|
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Cost of Goods Sold |
1880.751 |
1564.320 |
1822.087 |
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Office and Administrative Expenses |
11.275 |
8.251 |
11.270 |
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Selling and Distribution Expenses |
17.696 |
3.858 |
5.506 |
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Preliminary Expenses W/off |
0.000 |
0.017 |
0.083 |
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TOTAL (B) |
1909.722 |
1576.446 |
1838.946 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
24.667 |
30.540 |
26.722 |
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|
|
|
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|
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Less |
FINANCIAL
EXPENSES (D) |
15.558 |
23.879 |
19.317 |
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.109 |
6.661 |
7.405 |
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|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.224 |
1.368 |
1.544 |
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PROFIT BEFORE
TAX (E-F) (G) |
6.885 |
5.293 |
5.861 |
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Less |
TAX (I) |
2.160 |
1.851 |
1.612 |
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|
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PROFIT AFTER TAX
(G-I) (J) |
4.725 |
3.442 |
4.249 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
21.841 |
18.399 |
14.150 |
|
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|
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BALANCE CARRIED
TO THE B/S |
26.566 |
21.841 |
18.399 |
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IMPORTS |
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Raw Materials |
383.923 |
180.362 |
241.806 |
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TOTAL IMPORTS |
383.923 |
180.362 |
241.806 |
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Earnings Per
Share (Rs.) |
4.04 |
3.15 |
3.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.24
|
0.21
|
0.23
|
|
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Net Profit Margin (PBT/Sales) |
(%) |
0.36
|
0.33
|
0.32
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.51
|
1.31
|
1.19
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.14
|
0.17
|
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Debt Equity Ratio (Total Liability/Networth) |
|
8.71
|
9.77
|
12.90
|
|
|
|
|
|
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Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.31
|
1.25
|
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS/
REVIEW OF OPERATIONS:
During the year the Company earned a total income amounting to Rs.1893.703 millions (including other income of Rs.40.686 millions) as against Rs. 1577.494 millions (including other income of Rs. 29.492 millions) in the previous year. The Company earned a profit (after tax) of Rs 4.725 millions as against a profit (after tax) of Rs. 3.442 millions in the previous year. The Company is hopeful to perform better in the future.
Form 8:
|
Corporate
identity number of the company |
U24119DL2001PLC110074 |
|
Name of the
company |
SHUBHAM CHEMICALS AND SOLVENTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
GI-3, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Corporation Bank, AM – 10, Shalimar Bagh, E-Mail: mallyashenoyca@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Common Deed of
Hypothecation of movable, assets, debts. |
|
Date of
instrument Creating the charge |
16.03.2011 |
|
Amount secured by
the charge |
Rs.350.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
interest shall be charged @14.50% p. a. being 5.10% over and above the bank's
Base Rate which is 9.40% p. a. with compounded monthly rests. Terms of
Repayment: Cash Credit limit- Running account repayable on demand subject to
annual renewal. Bank Guarantee
and Inland /Import Letter of credit- BE Under LC - AS per Norms. Margin: Cash
Credit limit- 25% Bank Guarantee
& Inland /Import Letter of credit & BE Under LC- 10% ( Cash Margin) Extent and
Operation of the charge: The hypothecated assets is to secure following
credit limits sanctioned by corporation bank to the company.1.Cash Credit
limit of Rs.60.000 millions 2. Bank Guarantee limit of Rs.90.000 millions 3.
Inland /Import LC limit of Rs150.000
millions.4. BE Under LC limit of
Rs.50.000 millions. Aggregate limit of Rs.350.000 millions. |
|
Short particulars
of the property charged |
Exclusive charge
by way of hypothecation of stocks in trade and book-debts /current asset of
the company. Hypothecation of
plant and machinery and other fixed assets (excluding vehicles) |
|
Particulars of
the present modification |
Extent of
operation of the charge on current assets and fixed assets of the company
stands enhance from Rs.200.000 millions to Rs.350.000 millions. Other terms
and conditions remains the same. |
FIXED ASSETS:
- Air
Conditioner
- Business Card
Reader
- C.C. T.V.
- Vehicles
- Computer
Software
- Computers
- Electrical
Equipments
- Electric
Fittings
- EPABX
- Equipments
- Fans and
Coolers
- Fax Machine
- Fire
Extinguisher
- Furniture and
Fixtures
- Generator
- Inverter
- Mobile Phone
- Music Systems
- Office Flat
- Office
Renovation
- Pager
- Photography
Machine
- Scale
(Weighting)
- Shredding
Machine
- Storage Tank
- Television
- Tempo-Swapaj
Mazada
- UPS
- Water
Dispensor
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.44.23 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.62.99 |
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.