MIRA
INFORM REPORT
|
Report Date : |
07.12.2011 |
IDENTIFICATION DETAILS
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Name : |
SAAN GLOBAL LIMITED (w.e.f. 26.02.2010) |
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Formerly Known
As : |
SAAN GLOBAL PRIVATE LIMITED |
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Registered
Office : |
2664, Lane 2 and 3, 3rd Floor, Beadonpura, Karobagh, New
Delhi – 110005 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
16.05.2007 |
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Com. Reg. No.: |
55-163510 |
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Capital
Investment / Paid-up Capital : |
Rs.7.400 Millions |
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CIN No.: [Company Identification
No.] |
U51101DL2007PLC163510 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS42150D |
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PAN No.: [Permanent Account No.] |
AAMCS0316G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of All types of Chemicals, PU Components, Colours, Master
Batches, Furniture, Automobile Part, Chemical Plastic and Other Allied
Products. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 32000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of Saan Global, erstwhile partnership concern. It is an established company having moderate track. Trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. The company can be considered for business dealings with some
cautions. |
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
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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 Office : |
2664, Lane 2 and 3, 3rd Floor, Beadonpura, Karobagh, New
Delhi – 110005, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Marketing Office : |
“Saan House”, C-56/18, Sector 62, Institutional Area, Noida – 201309,
Uttar Pradesh, India |
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Tel. No.: |
91-120-4031000 |
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Fax No.: |
91-120-4031020 |
DIRECTORS
(AS ON 24.09.2011)
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Name : |
Mr. Amit Sehgal |
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Designation : |
Director |
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Address : |
C-57, Sector 40, Noida – 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
13.01.1974 |
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Date of Appointment : |
16.05.2007 |
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DIN No.: |
01206938 |
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Other Directorship : |
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Name : |
Mr. Ashwani Kumar Sehgal |
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Designation : |
Director |
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Address : |
C-57, Sector 40, Noida – 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
05.04.1947 |
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Date of Appointment : |
16.05.2007 |
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DIN No.: |
01241834 |
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Other Directorship : |
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Name : |
Mr. Shashi Sehgal |
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Designation : |
Director |
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Address : |
C-57, Sector 40, Noida – 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
30.07.1951 |
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Date of Appointment : |
02.02.2010 |
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DIN No.: |
02905702 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 24.09.2011)
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Names of Shareholders |
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No. of Shares |
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Ashwani Kumar Sehgal |
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404997 |
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Amit Sehgal |
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334998 |
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Shashi Sehgal |
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1 |
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Naveen Pathania |
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1 |
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Shankar Lal |
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1 |
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Shailja Dwivedi |
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1 |
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Manoj Bhatt |
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1 |
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Total |
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740000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of All types of Chemicals, PU Components, Colours, Master
Batches, Furniture, Automobile Part, Chemical Plastic and Other Allied
Products. |
GENERAL INFORMATION
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Customers : |
· Aerosol Promotion Council · All India Industrial Gases Manufacturers' Association · Delhi Chamber of Commerce · Indian Polyurethane Association · Log Form Private Limited · Kamal Foams Private Limited · Royal Foam Products · Peps Industries Private Limited |
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No. of Employees : |
Not Available |
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Bankers : |
ICICI Bank |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N. C. Raj and Associates Chartered Accountant |
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Address : |
10, Community Centre No.2, Ashok Vihar, Phase – II, New Delhi –
110052, India |
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Tel. No.: |
91-11-45172000-99 |
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Email : |
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Website : |
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PAN No.: |
AADFN1890Q |
CAPITAL STRUCTURE
(AS ON 24.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Share |
Rs.10/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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740000 |
Equity Share |
Rs.10/- each |
Rs.7.400 Millions |
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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 |
7.400 |
0.500 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.486 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.108) |
(0.062) |
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NETWORTH |
7.886 |
0.392 |
0.038 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.163 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.163 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7.886 |
0.392 |
0.201 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.001 |
0.000 |
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 |
3.206
|
0.000 |
0.000 |
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Sundry Debtors |
9.891
|
0.000 |
0.000 |
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Cash & Bank Balances |
1.056
|
0.507 |
0.099 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
0.912
|
0.000 |
0.000 |
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Total
Current Assets |
15.065
|
0.507 |
0.099 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
6.944
|
0.177 |
0.005 |
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Other Current Liabilities |
0.192
|
0.010 |
0.000 |
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Provisions |
0.079
|
0.000 |
0.000 |
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Total
Current Liabilities |
7.215
|
0.187 |
0.005 |
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Net Current Assets |
7.850
|
0.320 |
0.094 |
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MISCELLANEOUS EXPENSES |
0.035 |
0.072 |
0.107 |
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TOTAL |
7.886 |
0.392 |
0.201 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
37.354 |
0.000 |
0.000 |
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Other Income |
0.075 |
0.019 |
0.017 |
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TOTAL (A) |
37.429 |
0.019 |
0.017 |
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Less |
EXPENSES |
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Materials Cost |
32.980 |
0.000 |
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Trading Purchased |
0.488 |
0.000 |
0.045 |
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Administrative and Selling Expenses |
3.087 |
0.066 |
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TOTAL (B) |
36.555 |
0.066 |
0.045 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.874 |
(0.047) |
(0.028) |
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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) |
0.874 |
(0.047) |
(0.028) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.000 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.874 |
(0.047) |
(0.028) |
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Less |
TAX (H) |
0.279 |
0.000 |
0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
0.595 |
(0.047) |
(0.028) |
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Earnings Per
Share (Rs.) |
3.06 |
(0.93) |
(2.82) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.59
|
(247.37) |
(164.71) |
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Net Profit Margin (PBT/Sales) |
(%) |
2.34
|
0.00 |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.80
|
(9.27) |
(28.28) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
(0.12) |
(0.74) |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.91
|
0.48 |
4.42 |
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Current Ratio (Current Asset/Current Liability) |
|
2.09
|
2.71 |
19.80 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS AND
FUTURE PLANS:
The company was incorporated on 16th May, 2007 and converted to
public limited company on 26.02.2010. The company is taking all initiatives to
fulfill its main objects for which it is formed. The turnover of the company
has increased considerably from Rs.0.019 Million in last year to Rs.37.429
Millions in the current year. Also, the net profit has increased from Rs.0.047
Million to Rs.0.596 Million in current year.
WEBSITE DETAILS:
PROFILE:
Subject is a professionally managed marketing organization, engaged in
indenting, stocking and selling of a wide range of specialty chemicals. They
are in the business of assisting the industry for international sourcing and
supply of raw materials and intermediaries and aim to source value added
products and services. They represent several large and reputed overseas manufacturers
and suppliers, some of whom are the world leaders in their fields. Presently a
reputed importing house the India based subject with branch offices in Mumbai,
Chennai has extended its network across the country to cater to various
industries like Polyurethane, Rubbers, Petrochemicals, Printing inks, Paints,
Wire and Cables, PVC, Construction etc.
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.51.39 |
|
|
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.68.92 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
27 |
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.