MIRA
INFORM REPORT
|
Report Date : |
06.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHAKTI HITECH COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
54-A, SMIE, Phase - II, Opposite YMCA, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.10.2001 |
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Com. Reg. No.: |
05-034759 |
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Capital
Investment / Paid-up Capital : |
Rs.2.834 Millions |
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CIN No.: [Company Identification
No.] |
U18101HR2001PTC034759 |
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|
Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacturer
of Pressure Die Cast Components duly machined and assembled. |
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No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 58000 |
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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 dealing at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Ashish Rathi |
|
Designation : |
Director |
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Contact No.: |
91-9818494806 |
|
Date : |
05.07.2011 |
LOCATIONS
|
Registered Office/ Factory : |
54-A, SMIE, Phase - II, Opposite YMCA, |
|
Tel. No.: |
91-129-4003403/ 2222182 |
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Mobile No.: |
91-9818494806 (Mr. Ashish Rathi) |
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Fax No.: |
91-129-4006403 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Ashish Rajkumar Rathi |
|
Designation : |
Director |
|
Address : |
302, |
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Date of Birth/Age : |
03.03.1981 |
|
Qualification : |
BA |
|
Date of Appointment : |
20.11.2001 |
|
DIN No.: |
01284297 |
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|
|
|
Name : |
Mr. Raj Kumar Anant Lal Rathi |
|
Designation : |
Director |
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Address : |
H. No.7, Sector – 4 R, |
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Date of Birth/Age : |
26.06.1955 |
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Date of Appointment : |
14.05.2008 |
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DIN No.: |
02171840 |
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|
|
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Name : |
Mr. Suresh Anant Rathi |
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Designation : |
Director |
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Address : |
H. No.79, Sector – 8, |
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Date of Birth/Age : |
16.12.1957 |
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Date of Appointment : |
14.05.2008 |
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DIN No.: |
02184750 |
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|
Name : |
Mr. Manish Rathi |
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Designation : |
Director |
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Address : |
H. No.79, Sector – 8, |
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Date of Birth/Age : |
01.11.1980 |
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Date of Appointment : |
03.10.2001 |
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DIN No.: |
01284230 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ashish Rathi |
|
60000 |
|
Manish Rathi |
|
66000 |
|
Abha Rathi |
|
100 |
|
Chitra Rathi |
|
100 |
|
Gauri Bhaiya |
|
100 |
|
K.C. Jajoo |
|
100 |
|
Manish Jajoo (HUF) |
|
100 |
|
Sarla Bhaiya |
|
100 |
|
P.R. Bhaiya |
|
100 |
|
P.R. Bhaiya (HUF) |
|
100 |
|
Raj Kumar Rathi |
|
100 |
|
Raj Kumar Rathi (HUF) |
|
100 |
|
Rekha Rathi |
|
100 |
|
Suresh Rathi |
|
100 |
|
Suresh Rathi (HUF) |
|
100 |
|
Swati Jajoo |
|
100 |
|
Sarvottam Agencies (Private) Limited, |
|
27500 |
|
Ramdutt Merchandise (Private) Limited, |
|
25000 |
|
Gauripati Trading Private Limited, |
|
12500 |
|
Ratneshwar Marketing Private Limited, |
|
12500 |
|
Umesh Rathi |
|
66000 |
|
Parasadha Construction Private Limited, |
|
12500 |
|
Total |
|
283400 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
27.00 |
|
Directors
or relatives of directors |
|
73.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Pressure Die Cast Components duly machined and assembled. |
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|
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Products : |
v
Basket Holder Assembly v
Rocker Cover Assembly v
S.T. Inserts / T. Nut |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
45 (Approximately) |
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Bankers : |
v
Oriental Bank of Commerce, Sector – 7, Sihi Branch,
v Citi Bank N.A v ICICI Bank Limited |
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Facilities : |
* Secured
against Stock and Debtors **Secured
against Die Castings machines *** Secured against CNC Machine
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M.S. Ladha and Company Chartered Accountants |
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Address : |
Plot No. 8 Block - I Sector-10, DLF
(Opposite Civil Court) |
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Tel. No.: |
91-129-5035064, 5035069 |
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|
|
|
Memberships : |
v FCCI v FSSI |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
283400 |
Equity Shares |
Rs.10/- each |
Rs.2.834 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.834 |
2.834 |
2.834 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.681 |
10.512 |
9.232 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
14.515 |
13.346 |
12.066 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.583 |
4.460 |
5.397 |
|
|
2] Unsecured Loans |
3.761 |
1.118 |
2.189 |
|
|
TOTAL BORROWING |
5.344 |
5.578 |
7.586 |
|
|
DEFERRED TAX LIABILITIES |
0.290 |
0.329 |
0.299 |
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|
|
|
|
|
|
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TOTAL |
20.149 |
19.253 |
19.951 |
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|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
11.677 |
11.064 |
10.070 |
|
|
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 |
|
|
|
|
|
|
Inventories |
2.398
|
1.648
|
3.126 |
|
|
Sundry Debtors |
13.459
|
11.332
|
14.426 |
|
|
Cash & Bank Balances |
0.305
|
0.097
|
0.206 |
|
|
Other Current Assets |
0.025
|
0.091
|
0.025 |
|
|
Loans & Advances |
3.734
|
3.244
|
2.284 |
|
Total
Current Assets |
19.921
|
16.412 |
20.067 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.330
|
5.423
|
7.290 |
|
|
Other Current Liabilities |
0.588
|
0.620
|
1.638 |
|
|
Provisions |
0.531
|
2.188
|
1.269 |
|
Total
Current Liabilities |
11.449
|
8.231 |
10.197 |
|
|
Net Current Assets |
8.472
|
8.181
|
9.870 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.008 |
0.011 |
|
|
|
|
|
|
|
|
TOTAL |
20.149 |
19.253 |
19.951 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Income |
81.737 |
99.330 |
85.681 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
81.737 |
99.330 |
85.681 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
80.141 |
97.101 |
83.682 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
80.141 |
97.101 |
83.682 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.596 |
2.229 |
1.999 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.427 |
0.920 |
0.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.169 |
1.309 |
1.411 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.63 |
4.62 |
7.05 |
|
|
Particulars |
|
|
31.03.2011 (Approximately) |
|
Sales Turnover |
|
|
110.000 |
|
|
|
|
|
The above information has been parted by Mr. Ashish Rathi (Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.43
|
1.32
|
1.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.05
|
8.11
|
6.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.17
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.16
|
1.03
|
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74
|
1.99
|
1.97 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U18101HR2001PTC034759 |
|
Name of the
company |
SHAKTI HITECH COMPONENTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
54-A, SMIE, Phase - II, Opposite YMCA, E-Mail: madhu@msladhaandco.com |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
80037507 |
|
Type of charge |
Book Debts Movable Property Others (Stocks) |
|
Particular of
charge holder |
Oriental Bank of Commerce, Sector – 7, Sihi Branch, E-Mail: cakkminocha@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement to Secure Credit / Loan Facilities Dated 07.12.2010 |
|
Date of
instrument Creating the charge |
07.12.2010 |
|
Amount secured by
the charge |
Rs.6.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: @ 2.50% over Base
Rate which works out @ 11.00% p.a. on monthly rest subject to change linked
with Base Rate/RBI Guidelines. Panel Rate of
Interest: @ 2% over and above the normal rate of Interest. Terms of
Repayment: On Demand. Margin: Margin :- 25% Extent and
Operation of the charge: Hypothecation of
Stock of Raw Material, SIP and Finished Goods of the Company. Hypothecation of
Book Debts of the Company. Hypothecation of
other Current Assets of the Company. Hypothecation of
plant and Machinery of the Company, present as well as future. |
|
Short particulars
of the property charged |
Hypothecation of
Stock of Raw Material, SIP and Finished Goods of the Company. Hypothecation of
Book Debts of the Company. Hypothecation of
other Current Assets of the Company. Hypothecation of
plant and Machinery of the Company, present as well as future. |
|
Date of latest
modification prior to the present modification |
20.08.2007 |
|
Particulars of
the present modification |
Limit of amount secured
enhanced from Rs.4.000 millions to Rs.6.000 millions. @ 2.50% over Base
Rate which works out @ 11.00% p.a. on monthly rest subject to change linked
with Base Rate/RBI Guidelines. Panel Rate of
Interest: @ 2% over and above the normal rate of Interest. |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U18101HR2001PTC034759 |
|
Name of the
company |
SHAKTI HITECH COMPONENTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
54-A, SMIE, Phase - II, Opposite YMCA, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Oriental Bank of Commerce, Sector – 7, Sihi Faridabad – 121004, |
|
Nature of
description of the instrument creating or modifying the charge |
Term Loan |
|
Date of
instrument Creating the charge |
26.03.2008 |
|
Amount secured by
the charge |
Rs. 1.730 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- PLR 12.25% Per annum with monthly rest (Present PLR is 13.25%) Terms of Repayment
– 36 monthly installment of Rs. 0.057 Million per month till end of loan
starting from. 26.03.2008 Margin – NA Extent and
Operation of the charge – Term loan agreement Others - NA |
|
Short particulars
of the property charged |
Hypothecation of
CNC lathe std machine |
|
Name of the company |
SHAKTI HITECH COMPONENTS PRIVATE LIMITED |
|
Presented By |
Oriental Bank of Commerce, Sector – 7, Sihi Faridabad – 121004, |
|
1) Date and description of instrument creating the changers. |
Agreement of Term
Loan Dated 06.12.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.650 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
CNC Lathe Machine Valuing Rs. 2.207 Millions |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest minimum
of 9.50% per annum with monthly rests or any other rate which may be fixed by
the bank. Penal Rate of
Interest 2.00% over normal rate of interest with minimum of 11.5% p.a with
monthly rests or any other rate which may be fixed by the bank Installment Rs.
0.043 Million w.e.f. 28.02.2006 |
|
5) Name and Address and description of the person entitled to the charge. |
Oriental Bank of Commerce, Sector – 7, Sihi Faridabad – 121004, |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
FIXED ASSETS:
v
Machinery
v
Furniture
v
Electric Installation
v
Dies and Tools
v
M.80 Mopped
v
Tata Indica
v
Tube Well
v
Computer
v
Scooter
v
Gen Set
v
Factory Equipment
v
Maruti Zen
v
Office Equipment
v
Lab Equipment
v
Fax Machine
v
Weghing Scale
v
Air Conditioner
v
Fans
v
Light Lift Table
v
Car Innova
v
Car Maruti Swift
v
Car Optra
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.44.50 |
|
|
1 |
Rs.71.25 |
|
Euro |
1 |
Rs.64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.