MIRA
INFORM REPORT
|
Report Date : |
19.02.2011 |
Note : The Given address of the company has been
verified and validated by us.
IDENTIFICATION DETAILS
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Name : |
SPECIAL TOOLS PRIVATE LIMITED |
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Registered
Office : |
C-657, New Friends Colony, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
31.01.1984 |
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Com. Reg. No.: |
55-017460 |
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CIN No.: [Company Identification
No.] |
U74899DL1984PTC017460 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNES21800C |
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PAN No.: [Permanent Account No.] |
AAACD3583R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Engineering Goods, Auto Parts. |
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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Maximum Credit Limit : |
USD 72800 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Arvind |
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Designation : |
Accountant Manager |
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Contact No.: |
91-9212044258 |
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Date : |
16.02.2011 |
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LOCATIONS
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Registered Office : |
C-657, New Friends Colony, |
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Tel. No.: |
91-120-2782187 / 2897522 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq.ft. |
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Location : |
Owned |
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Works : |
41/20-21, Site IV, Indl Area, Sahibabad, |
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Tel. No.: |
91-120-2897522 |
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Fax No.: |
91-120-2897522 |
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Factory 1 : |
Gate No. 145/152, Sanswadi, Tal Shirur, Pune – 412208, |
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Tel. No.: |
91-20-412208 / 252564 |
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Factory 2 : |
1803, GIDC Industrial Estate, Halol, |
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Mob No.: |
91-9879529944 (Mr. Mehul Paresh) |
DIRECTORS
As on 31.03.2009
|
Name : |
Mr. Gagandeep Gandhi |
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Designation : |
Director |
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Address : |
R – 2/221, Raj Nagar, Gaziabad
+ Dadri– 201002, |
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Date of Birth/Age : |
20.03.1974 |
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Date of Appointment : |
10.11.1993 |
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DIN : |
01370511 |
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Name : |
Mr. Paramjit Gandhi |
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Designation : |
Director |
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Address : |
R – 2/221, Raj Nagar, Gaziabad + Dadri– 201002, |
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Date of Birth/Age : |
01.01.1950 |
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Date of Appointment : |
20.06.1989 |
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DIN : |
00809459 |
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Name : |
Ms. Jasmine Gandhi |
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Designation : |
Director |
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Address : |
III-D/8, Nehru Nagar, Gaziabad
+ Dadri– 201002, |
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Date of Birth/Age : |
30.07.1968 |
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Date of Appointment : |
16.03.1992 |
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DIN : |
02979634 |
KEY EXECUTIVES
|
Name : |
Mr. Arvind |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2009
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Gagandeep Gandhi |
|
15445 |
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Mr. Paramjit Gandhi |
|
2650 |
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Ms. Jasmine Gandhi |
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12645 |
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Ranjana Chopra |
|
10 |
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Yogesh Chopra |
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10 |
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Priyanka Gupta |
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10 |
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Total
|
30770 |
After on 31.03.2009
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Names of Allottes |
|
No. of Shares |
|
Kulpreet Gandhi |
|
1500 |
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Gagandeep Gandhi |
|
2500 |
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Swarn Gandhi |
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2820 |
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Gagandeep Gandhi |
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24500 |
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Devinder Kaur |
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10 |
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Total |
31330 |
As on 30.09.2009
|
Category |
Percentage |
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Others |
58.81 |
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Other top fifty shareholders |
41.19 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Engineering Goods, Auto Parts. |
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Product : |
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Terms : |
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Selling : |
Cash / Credit (30 Days / 60 Days / 90 Days) |
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Purchasing : |
Cash / Credit (30 Days / 60 Days / 90 Days) |
PRODUCTION STATUS AS ON (31.03.2009)
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Particulars |
Unit |
Actual
Production |
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Sheet Comp. |
Nos. |
426637 |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
175 (Approximately) |
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Bankers : |
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Facilities : |
Cash Credit – Rs. 65.000 million
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
KPMC and Associates (Mr. Sanjay
Mehra) Chartered Accountant |
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Address : |
C-1, 1st Floor, RDC, Raj nagar, |
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Tel. No.: |
91-120-4119416 / 2782187 |
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E-Mail : |
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PAN No. : |
AANPM8899G |
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Associates/Subsidiaries : |
Address : C-657, New Friends Colony,
Address : C-657, New Friends Colony,
Address : C-657, New Friends Colony, |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
75000 |
Equity Shares |
Rs. 100/- each |
Rs. 7.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30770 |
Equity Shares |
Rs. 100/- each |
Rs 3.077 million |
After 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
75000 |
Equity Shares |
Rs. 100/- each |
Rs. 7.500 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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62100 |
Equity Shares |
Rs. 100/- each |
Rs. 6.210 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3.077 |
3.077 |
2.276 |
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2] Share Application Money |
0.782 |
0.782 |
0.782 |
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3] Reserves & Surplus |
14.362 |
11.228 |
8.187 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
18.221 |
15.087 |
11.245 |
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LOAN FUNDS |
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1] Secured Loans |
49.382 |
54.315 |
26.051 |
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2] Unsecured Loans |
3.393 |
6.800 |
4.931 |
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TOTAL BORROWING |
52.775 |
61.115 |
30.982 |
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DEFERRED TAX LIABILITIES |
4.314 |
3.447 |
2.497 |
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TOTAL |
75.310 |
79.649 |
44.724 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
54.950 |
56.830 |
33.871 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
14.960 |
15.859 |
5.108 |
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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 |
13.909
|
13.806 |
3.908 |
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Sundry Debtors |
17.821
|
20.597 |
13.260 |
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Cash & Bank Balances |
0.294
|
0.302 |
0.131 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
6.179
|
11.978 |
7.384 |
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Total
Current Assets |
38.203
|
46.683 |
24.683 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
12.999
|
25.977 |
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Other Current Liabilities |
19.040
|
13.068 |
18.973 |
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Provisions |
0.764
|
0.678 |
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Total
Current Liabilities |
32.803
|
39.723 |
18.973 |
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Net Current Assets |
5.400
|
6.960 |
5.710 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.035 |
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TOTAL |
75.310 |
79.649 |
44.724 |
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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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Income |
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Other Income |
121.779 |
108.725 |
66.598 |
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TOTAL |
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Less |
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Office Expenses |
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Administrative Expenses |
117.014 |
NA |
63.246 |
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Advertising Expenses |
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TOTAL |
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PROFIT BEFORE TAX
|
4.765 |
NA |
3.352 |
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Less |
TAX |
1.631 |
NA |
1.175 |
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PROFIT AFTER TAX
|
3.134 |
NA |
2.177 |
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IMPORTS |
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Capital Goods |
0.000 |
7.102 |
0.000 |
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TOTAL IMPORTS |
0.000 |
7.102 |
0.000 |
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Earnings Per
Share (Rs.) |
101.86 |
-- |
-- |
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Particulars |
|
31.03.2010 |
|
Sales Turnover |
|
150.000 |
Expected Sales ( 2010-2011) : Rs. Rs. 180.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
2.57
|
-- |
3.27 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.11
|
-- |
5.72 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
-- |
0.30 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.70
|
6.68 |
4.44 |
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Current Ratio (Current Asset/Current Liability) |
|
1.16
|
1.18 |
1.30 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Subros
Limited, Noida
- Caparo
Engineering Private Limited, Noida
Note : Registered Office of the Company has been shifted from B-12, Top Floor,
Kslindi,
FINANCIAL RESULTS
OF THE COMPANY
During the year, turnover of the company had been increased from 108.141
million to 121.085 million. Company has improved its profitability
significantly from 3.041 million to 3.134 million.
|
Corporate
identity number of the company |
U74899DL1984PTC017460 |
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Name of the
company |
SPECIAL TOOLS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
C-657, New Friends Colony, |
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Type of charge |
Movable Property Other |
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This form is for |
Creation of
charge |
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Particular of
charge holder |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of term
loan (Doc - 5) dated 11.04.2008 |
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Date of
instrument Creating the charge |
24.02.2010 |
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Amount secured by
the charge |
Rs.0.650 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
a) Rate of
Interest The rate of
interest shall be chargeable as per HO/RBI guidelines from time to time.
Presently the same is minimum of @ 10.25% p.a. with monthly rests. b) Terms of
Repayment The term loan
repaid in 60 EMI of Rs.0.014 million each. c) Margin –
16.27% d) Extent and
Operation of the charge - 100% e)Others – The term
loan of Rs. 65.000 million also be secured by entire fixed / block / current
assets of the company |
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Short particulars
of the property charged |
Hypothecation of
FORD FIESTA 1.4 EXI car purchased or to be purchased out of bank finance
total costing of Rs. 0.776 Millions |
FIXED ASSETS
- Land
- Building
- Furniture
- Vehicles
- Plant and
Machinery
- Office
Equipments
- Electric
Installation
- Generators
- Electric
Equipments
- Dies
- Refrigerator
- Computers
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. 45.18 |
|
|
1 |
Rs. 73.04 |
|
Euro |
1 |
Rs. 61.43 |
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.