MIRA
INFORM REPORT
|
Report Date : |
02.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
S S APPLIANCES PRIVATE LIMITED S S ENGINEERING INDUSTRIES DIVISION OF S S APPLIANCES PRIVATE LIMITED |
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Registered
Office : |
H-35, South Extention Part-1, New Delhi-110049, Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.02.1988 |
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Com. Reg. No.: |
55-030560 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.500 million |
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CIN No.: [Company Identification
No.] |
U74899DL1988PTC030560 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer, Trader, Importer and Exporter of hi-tech oil
conservation equipment |
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No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
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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 630000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial
position of the company is good. Trade relations are reported as fair.
Business is active. Payments are regular and as per commitments. The company can be considered good for normal 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
|
Name : |
Mr. Topo |
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Designation : |
Manager |
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Contact No.: |
91-120-2423191 |
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Date : |
30.06.2011 |
LOCATIONS
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Registered Office : |
H-35, South Extention Part-1, New Delhi-110049, Delhi, India |
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Tel. No.: |
91-120-2423191 / 2423207 |
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Fax No.: |
91-120-2423654 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branches : |
B-28, Sector-7, Noida, Uttar Pradesh, India B-29, Sector-7, Noida, Uttar Pradesh, India C-27, Sector-7, Noida, Uttar Pradesh, India |
DIRECTORS
AS ON 23.09.2009
|
Name : |
Mr. Mahesh Gupta |
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Designation : |
Director |
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Address : |
H-35, South Extention Part-1, New Delhi-110049, Delhi, India |
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Date of Appointment : |
09.02.1988 |
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DIN No : |
00458281 |
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Name : |
Mrs. Sunita Gupta |
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Designation : |
Director |
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Address : |
H-35, South Extention Part-1, New Delhi-110049, Delhi, India |
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Date of Appointment : |
01.04.1989 |
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DIN No : |
00437823 |
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Name : |
Mr. Varun Gupta |
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Designation : |
Director |
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Address : |
H-35, South Extention Part-1, New Delhi-110049, Delhi, India |
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Date of Appointment : |
28.09.2004 |
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DIN No : |
00458328 |
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Name : |
Ms. Surbhi Gupta |
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Designation : |
Director |
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Address : |
H-35, South Extention Part-1, New Delhi-110049, Delhi, India |
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Date of Appointment : |
28.09.2004 |
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DIN No : |
00458414 |
KEY EXECUTIVES
|
Name : |
Mr. Topo |
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Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2009
|
Names of Shareholders |
No. of Shares |
|
Sunita Gupta |
13210 |
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Mahesh Gupta |
21770 |
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Surbhi Gupta |
50 |
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Varun Gupta |
14970 |
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Total |
50000 |
AS ON 23.09.2009
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Importer and Exporter of hi-tech oil
conservation equipment |
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Exports : |
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Countries : |
·
African and Gulf Countries |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Reagents |
ML |
NA |
NA |
1086450 |
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Water Meter |
ML |
NA |
NA |
242 |
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Oil Meter |
ML |
NA |
NA |
783 |
GENERAL INFORMATION
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Customers : |
·
End Users ·
Others |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
·
Oriental Bank of Commerce, Vasundra Enclave, New
Delhi-110096, Delhi, India ·
Canara Bank, South Extension, New Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
SNR And Company Charter Accountant |
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Address : |
A-15, Second Floor, Hauz Khas, |
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Sister Concern : |
Kent Ro Systems Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500
Million |
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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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
159.221 |
152.904 |
145.490 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
159.721 |
153.404 |
145.990 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.059 |
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2] Unsecured Loans |
2.000 |
0.000 |
11.478 |
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TOTAL BORROWING |
2.000 |
0.000 |
11.537 |
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DEFERRED TAX LIABILITIES |
1.196 |
0.505 |
0.013 |
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TOTAL |
162.917 |
153.909 |
157.540 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
77.227 |
80.450 |
87.051 |
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Capital work-in-progress |
34.866 |
13.418 |
0.000 |
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INVESTMENT |
0.026 |
5.496 |
7.628 |
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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 |
8.754
|
8.655 |
7.001 |
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Sundry Debtors |
6.395
|
6.665 |
8.462 |
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Cash & Bank Balances |
38.526
|
34.628 |
39.330 |
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Other Current Assets |
1.408
|
1.810 |
2.455 |
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Loans & Advances |
11.973
|
10.406 |
14.060 |
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Total
Current Assets |
67.056
|
62.164 |
71.308 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
7.933
|
1.128 |
2.315 |
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Other Current Liabilities |
2.456
|
1.460 |
1.375 |
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Provisions |
5.869
|
5.031 |
4.757 |
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Total
Current Liabilities |
16.258
|
7.619 |
8.447 |
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Net Current Assets |
50.798
|
54.545 |
62.861 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
162.917 |
153.909 |
157.540 |
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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 |
51.811 |
48.424 |
51.329 |
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Other Income |
NA |
NA |
5.406 |
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TOTAL (A) |
NA |
NA |
56.735 |
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Less |
EXPENSES |
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Purchase Trading Goods |
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|
0.119 |
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Increase / (Decrease) in Stock |
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|
(0.296) |
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Consumption of Material |
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|
11.388 |
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Manufacturing Expenses |
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|
8.082 |
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Personal Expenses |
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|
7.158 |
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Administrative Expenses |
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|
4.948 |
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Selling Expenses |
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|
4.369 |
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TOTAL (B) |
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|
35.768 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
20.967 |
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Less |
FINANCIAL
EXPENSES (D) |
|
|
0.480 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
20.487 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
4.427 |
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PROFIT BEFORE
TAX (E-F) (G) |
15.378 |
16.490 |
16.060 |
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PROFIT FROM KENT
RO SYSTEMS |
NA |
NA |
(0.174) |
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DONATION |
NA |
NA |
3.000 |
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Less |
TAX (I) |
NA |
NA |
5.780 |
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PROFIT AFTER TAX
(G-I) (J) |
NA |
NA |
7.106 |
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EXPORT VALUE |
1.266 |
0.485 |
NA |
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IMPORTS |
|
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|
Raw Materials |
1.130 |
3.368 |
NA |
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TOTAL IMPORTS |
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Earnings Per
Share (Rs.) |
12.6 |
-- |
142.12 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA |
12.52 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
29.68
|
34.05 |
31.29 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.66
|
11.56 |
10.14 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.11 |
0.11 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
0.12
|
0.05 |
0.14 |
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Current Ratio (Current Asset/Current Liability) |
|
4.12
|
8.16 |
8.44 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION
During the year the company has achieved a turnover of Rs 51.811
millions with a Net Profit before tax of Rs. 15.378 millions as against a turnover
of Rs. 48.424 millions with a Net Profit before tax of Rs. 16.490 millions in
the previous year.
TRADE REFERENCE:
·
Kirloskar
·
HPCL
·
Escorts
·
Shriram Group
·
LML
FIXED ASSETS
·
Land and Building
·
Machinery
·
Computers
·
Furniture and Fixtures
·
Type Writer and Office
Equipments
·
Fire Extinguisher
·
Scooters
·
Motor Cycles
·
Tampoo
·
Generator
·
Air Conditioner
·
Photostate Machine
·
Fax and Telephone Systems
·
Refrigerator
·
Coolers and Fans
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.44.58 |
|
|
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.64.80 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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.