MIRA
INFORM REPORT
|
Report Date : |
02.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAKSHAM TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
101-102, Sita Niwas, Plot No. 94, Road No. 1, Liberty Garden, Malad (West),
Mumbai – 400064, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
16.03.2000 |
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Com. Reg. No.: |
11-125000 |
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Capital
Investment / Paid-up Capital : |
Rs.0.320 Million |
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CIN No.: [Company Identification
No.] |
U72200MH2000PTC125000 |
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IEC No.: |
0308063112 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS27012G |
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PAN No.: [Permanent Account No.] |
AAFCS0756B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer of Shaker (Orbitek) Fermenters, Ovens, Incubator, Water Bath
Refrigerators, Ice flakers, Glassware Washer, Pure steam Generator, Freeze dryers
Refrigerated Centrifuges, Autoclaves, Cell Counters, Homogenizers, etc. |
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No. of Employees
: |
25 (Approximately) |
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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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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/ Corporate Office : |
101-102, Sita Niwas, Plot No. 94, Road No. 1, Liberty Garden, Malad
(West), Mumbai – 400064, Maharashtra, India |
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Tel. No.: |
91-22-28443636/ 28893535/ 28803636/ 28891439 |
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Fax No.: |
91-22-28893636/ 28803738 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq. ft |
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Location : |
Owned |
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Delhi Office : |
2nd Floor, 30/29 East Patel Nagar, Opposite Rajendra Place
Gurudwara, New Delhi – 110008, India |
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Tel. No.: |
91-11-25759033/ 25759034 |
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Fax No.: |
91-11-45769306 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sameer Maheshwari |
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Designation : |
Managing Director |
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Address : |
A/1101, 11th Floor, Dheeraj Jamuna, Chincholi Bunder Road,
Malad (West), Mumbai – 400064, Maharashtra, India |
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Date of Birth/Age : |
22.05.1971 |
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Qualification : |
B.E |
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Experience : |
11 Years |
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Date of Appointment : |
16.03.2000 |
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DIN No.: |
00266917 |
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Name : |
Mrs. Chhaya Maheshwari |
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Designation : |
Director |
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Address : |
A/1101, 11th Floor, Dheeraj Jamuna, Chincholi Bunder Road,
Malad (West), Mumbai – 400064, Maharashtra, India |
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Date of Birth/Age : |
26.05.1971 |
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Qualification : |
B. Com, I.C.W.A |
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Date of Appointment : |
16.03.2000 |
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DIN No.: |
00267081 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sameer Shyam Maheshwari |
18590 |
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Chhaya Sameer Maheshwari |
7010 |
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Shyam Maheshwari |
100 |
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Shakuntala Maheshwari |
6100 |
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Sandeep Maheshwari |
100 |
|
Deepa Maheshwari |
100 |
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Total |
32000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of Shaker (Orbitek) Fermenters, Ovens, Incubator, Water Bath Refrigerators,
Ice flakers, Glassware Washer, Pure steam Generator, Freeze dryers
Refrigerated Centrifuges, Autoclaves, Cell Counters, Homogenizers, etc. |
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Products : |
Scientific Instruments and Laboratory Equipments. |
GENERAL INFORMATION
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Customers : |
End Users ·
Seven Hills Healthcare Private Limited ·
Hi – Tech Lab Private Limited ·
Haffkine Institute of Research and Trainee ·
DOW Chemicals International Private Limited ·
Serum Institute of India ·
Ciba India Private Limited ·
Central Institute of Fisheries Technology ·
Privi Organics Limited ·
Sun Pharma ·
USV Limited, Mumbai ·
Ranbaxy ·
Biocon ·
Zydus ·
Wockhardt ·
Emcure ·
Suven ·
Panacea Biotec ·
Torrent |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
Bank of Baroda, Shantinath Shopping Center, S.V.
Road, Malad (West), Mumbai – 900064, Maharashtra, India ·
ICICI Bank |
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Facilities : |
Credit Limit – Rs.4.500 Millions from Bank of Baroda |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shanti Harlalka and Company Chartered Accountants |
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Address : |
B – 19, Anuj Apartments, 3rd Floor, Parvat Nagar, S. V.
Road, Dahisar (East), Mumbai – 400068, Maharashtra, India |
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Tel. No.: |
91-22-22992371/ 28958757 |
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E-Mail : |
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PAN.: |
AABPH5510R |
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Group Companies : |
·
Esco Biotech Private Limited ·
Labinco Instruments Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32000 |
Equity Shares |
Rs.10/- each |
Rs.0.320
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
0.320 |
0.320 |
0.320 |
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2] Share Application Money |
1.200 |
1.700 |
1.700 |
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3] Reserves & Surplus |
12.158 |
9.846 |
7.791 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.678 |
11.866 |
9.811 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.859 |
1.503 |
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2] Unsecured Loans |
4.600 |
2.200 |
1.700 |
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TOTAL BORROWING |
4.600 |
3.059 |
3.203 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
18.278 |
14.925 |
13.014 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.972 |
4.446 |
4.729 |
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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 |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
9.996
|
4.392 |
4.625 |
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Cash & Bank Balances |
2.153
|
1.015 |
1.463 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
4.649
|
6.674 |
2.663 |
|
Total
Current Assets |
16.798
|
12.081 |
8.751 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
2.492
|
1.602 |
0.467 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
2.492
|
1.602 |
0.467 |
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Net Current Assets |
14.306
|
10.479 |
8.284 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.001 |
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TOTAL |
18.278 |
14.925 |
13.014 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
4.756 |
3.799 |
0.341 |
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Commission Income |
14.616 |
12.288 |
10.398 |
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Professional and Service Charges |
0.766 |
0.996 |
0.709 |
|
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Other Income |
0.202 |
0.320 |
0.334 |
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TOTAL (A) |
20.340 |
17.403 |
11.782 |
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Less |
EXPENSES |
|
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Purchases – Trading |
3.032 |
2.377 |
0.235 |
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Payments to and Provisions for Employees |
5.593 |
4.195 |
3.696 |
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|
Administrative and Other Expenses |
7.830 |
7.319 |
4.547 |
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TOTAL (B) |
16.455 |
13.891 |
8.478 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.885 |
3.512 |
3.304 |
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Less |
FINANCIAL
EXPENSES (D) |
0.105 |
0.093 |
0.094 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.780 |
3.419 |
3.210 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.447 |
0.516 |
0.568 |
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PROFIT BEFORE
TAX (E-F) (G) |
3.333 |
2.903 |
2.642 |
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Less |
TAX (H) |
1.021 |
0.848 |
0.794 |
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PROFIT AFTER TAX
(G-H)
(I) |
2.312 |
2.055 |
1.848 |
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|
BALANCE CARRIED
TO THE B/S |
2.312 |
2.055 |
1.848 |
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EARNINGS IN
FOREIGN CURRENCY |
|
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Commission Earnings |
11.199 |
9.730 |
8.387 |
|
|
TOTAL EARNINGS |
11.199 |
9.730 |
8.387 |
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|
Earnings Per
Share (Rs.) |
75.25 |
64.00 |
58.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.36
|
11.81 |
15.68 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
70.07
|
76.41 |
774.78 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.04
|
17.56 |
19.59 |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.24 |
0.26 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
0.52
|
0.39 |
0.37 |
|
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|
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
6.74
|
7.54 |
18.74 |
LOCAL AGENCY FURTHER INFORMATION
Note :
The registered address of the company has been shifted from 502, Niti
Apartment, Sunderai Road, Near New Era Cinema, Malad (West), Mumbai – 400064, Maharashtra,
India to the present address
OPERATIONS
During the year
under review, the income from Sales and commission and service charges of the
Company has been increased by Rs.2.937 Millions i. e. 16.88% which is
satisfactory considering prevailing conditions in the market.
FORM 8
|
Corporate identity number of the company |
U72200MH2000PTC125000 |
|
Name of the company |
SAKSHAM TECHNOLOGIES PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
101, Sita Niwas, Plot No. 94, Road No. 1,
Liberty Garden, Malad (West), Mumbai – 400064, Maharashtra, India Email Id : accounts@saksham.co.in |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the
charge to be modified |
10091005 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Bank Of Baroda, Malad (West) Branch,
Shantinath Shopping Centre, 1st Floor, S. V. Road, Malad (West), Mumbai – 400064, Maharashtra, India Email Id : malad@bankofbaroda.com |
|
Nature of instrument creating charge |
Second supplemental memorandum of deposit
of title deeds dated 14.07.2011 |
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Date of instrument Creating the charge |
14.07.2011 |
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Amount secured by the charge |
Rs.5.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest As per sanction letter and subject to change
from time to time Terms of repayment Not Applicable Margin Not Applicable Extent and operation of the charge Equitable Mortgage by deposit of Title
Deeds in respect of Company's Immovable Property mentioned in Point No.15 to
secure the due repayment of the Cash Credit (Stocks and Book-debt) - Rs.0.500
Million, and Guarantee (Performance) - Rs.4.500 Millions, aggregating to
Rs.5.000 Millions sanctioned by Bank of Baroda, Malad (West) Branch to the
Company together with interest, additional interest, costs, charges and
expenses |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
All that Ownership Clinic/Office premises No.101,
1st floor, Building known as Sita Niwas, admeasuring 540.70 sq. feet
constructed on land bearing S.No.160, H.No.1, C.T.S. No.86A, 86/A-1, 86B,
Plot No.94, situated at Liberty
Garden Road No.1, Malad (West), Mumbai 400 064, together with fixtures and
fittings lying therein |
|
Date of instrument modifying the charge |
17.08.2009 |
|
Particulars of the present modification |
By the Present Modification Dated
14.07.2011 the Borrower has extended the existing Mortgage by deposit of
Title Deeds for the enhanced Guarantee (Performance ) limit of Rs.3.000
Millions making the total Guarantee Limit from Rs.1.500 Millions to Rs.4.500
Millions and existing Cash Credit Limit of Rs.5 Lacs making overall limit of
Rs.5.000 Millions Now by the Present Modification the total limit stands at
Rs.5.000 Millions |
FIXED ASSETS
·
Office Equipments
·
Computer
·
Fax Machine
·
Furniture and Fixture
·
Water Purifier
·
Air Conditioner
·
Honda Dio Scooter
·
Office Premises
·
Motor Car
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.51.65 |
|
|
1 |
Rs.81.06 |
|
Euro |
1 |
Rs.69.51 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.