MIRA
INFORM REPORT
|
Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUKI CREATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
42-B, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.05.2004 |
|
|
|
|
Com. Reg. No.: |
55-126349 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.810 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL2004PTC126349 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS31995F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS2754B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of multilayer poly film, specialized packaging film. Also
offering packaging services etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba [44] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 45000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
42-B, 1st Floor, Hanuman Lane, |
|
E-Mail : |
|
|
|
|
|
Factory : |
A – 2/2 – 3, Site B, Surajpur Industrial Area, Greater Noida, Gautam
Budh Nagar, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2561140 / 3234155 /
4255716 |
|
|
|
|
Corporate Office : |
B - 301, Sector -
26, Noida, Uttar Pradesh |
|
Tel. No.: |
91-120-4310586 /
3234155 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Suresh Chand Goyal |
|
Designation : |
Managing Director |
|
Address : |
B-301, Sector – 26, Noida – 201301, |
|
Date of Birth/Age : |
10.04.1953 |
|
Date of Appointment : |
01.12.2010 |
|
Din : |
00026739 |
|
Date of Ceasing : |
20.04.2011 |
|
|
|
|
Name : |
Ms. Kiran Goyal |
|
Designation : |
Director |
|
Address : |
B – 301, Sector 26, Noida – 201301, |
|
Date of Birth/Age : |
13.10.1957 |
|
Date of Appointment : |
13.05.2004 |
|
DIN : |
00026706 |
|
Date of Ceasing : |
20.04.2011 |
|
|
|
|
Name : |
Ms. Sonal Goyal |
|
Designation : |
Director |
|
Address : |
B – 301, Sector 26, Noida – 201301, |
|
Date of Birth/Age : |
07.03.1983 |
|
Date of Appointment : |
07.07.2007 |
|
DIN : |
00840308 |
|
|
|
|
Name : |
Ms. Neha Goyal |
|
Designation : |
Additional Director |
|
Address : |
B – 301, Sector 26, Noida – 201301, |
|
Date of Birth/Age : |
20.10.1983 |
|
Date of Appointment : |
01.01.2010 |
|
DIN : |
02847544 |
|
|
|
|
Name : |
Mr. Ankur Bansal |
|
Designation : |
Director |
|
Address : |
92, Sandesh Vihar, PItampura, |
|
Date of Birth/Age : |
31.03.1982 |
|
Din : |
00036247 |
|
Date of Ceasing : |
12.02.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kiran Goyal |
|
75000 |
|
Neha Goyal |
|
25000 |
|
Sonal Goyal |
|
60000 |
|
Suresh Chand Goyal |
|
70000 |
|
Scientific Herbals India Private Limited, |
|
107000 |
|
Kuldeepchand Sharma |
|
20000 |
|
Ashok Agarwal |
|
4000 |
|
Mrs. Pooja Gupta |
|
20000 |
|
Total |
|
381000 |
As on 01.02.2011
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Dr. Savita Agarwal |
|
20000 |
As on 10.03.2011
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Dr. Savita Agarwal |
|
155000 |
As on 30.09.2010
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
88.45 |
|
Other top fifty shareholders |
11.55 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of multilayer poly film, specialized packaging film. Also
offering packaging services etc. |
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Films |
Kgs. |
1242572.20 |
|
Scrap |
Kgs. |
87462.90 |
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Axis Bank Limited, B – 2 and 3, Sector 16, Noida – 201301, |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
Intec Securities Limited, 701, Manjusha, |
|
|
|
|
Auditors : |
|
|
Name : |
P. K. Chand and Company Chartered Accountant |
|
Address : |
F-21B, Sector-27, Noida – 201301, |
|
Tel. No.: |
91-120-4202226 |
|
Fax No.: |
91-120-4202227 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400,000 |
Equity Shares |
Rs.10/-each |
Rs.4.000 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
381,000 |
Equity Shares |
Rs.10/-each |
Rs.3.810 millions |
|
|
|
|
|
|
|
|
|
|
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/-each |
Rs.10.000 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
556,000 |
Equity Shares |
Rs.10/-each |
Rs.5.560 millions |
|
|
|
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.810 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.800 |
3.995 |
0.000 |
|
|
3] Reserves & Surplus |
6.680 |
2.671 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.253) |
|
|
NETWORTH |
11.290 |
9.166 |
2.247 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.395 |
16.214 |
13.125 |
|
|
2] Unsecured Loans |
10.623 |
5.119 |
6.665 |
|
|
TOTAL BORROWING |
25.018 |
21.333 |
19.790 |
|
|
DEFERRED TAX LIABILITIES |
1.531 |
1.197 |
0.818 |
|
|
|
|
|
|
|
|
TOTAL |
37.839 |
31.696 |
22.855 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.615 |
12.794 |
11.309 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.112
|
2.885 |
2.310 |
|
|
Sundry Debtors |
20.268
|
16.826 |
8.103 |
|
|
Cash & Bank Balances |
0.993
|
1.535 |
0.042 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
2.574
|
0.897 |
1.778 |
|
Total
Current Assets |
28.947
|
22.143 |
12.233 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.278
|
2.577 |
0.392 |
|
|
Other Current Liabilities |
0.827
|
0.449 |
0.294 |
|
|
Provisions |
0.684
|
0.290 |
0.085 |
|
Total
Current Liabilities |
6.789
|
3.316 |
0.771 |
|
|
Net Current Assets |
22.158
|
18.827 |
11.462 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.066 |
0.075 |
0.084 |
|
|
|
|
|
|
|
|
TOTAL |
37.839 |
31.696 |
22.855 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
123.886 |
88.868 |
25.113 |
|
|
|
Other Income |
2.648 |
2.741 |
5.055 |
|
|
|
TOTAL |
126.534 |
91.609 |
30.168 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
123.729 |
85.520 |
NA |
|
|
|
Depreciation |
|
|
|
|
|
|
Finance Expenses |
|
|
|
|
|
|
TOTAL |
123.729 |
85.520 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.805 |
2.789 |
NA |
|
|
|
|
|
|
|
|
|
Less |
Tax |
0.761 |
0.615 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
2.044 |
2.174 |
(0.253) |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.61
|
2.37 |
[0.84] |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.26
|
3.26 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.29
|
7.35 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.30 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.82
|
2.69 |
9.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.26
|
6.68 |
15.87 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office
address of the company has been shifted from 10795, Shop No.7, Jhandewalan Road,
Rexine Bazaar, Nabi Karim, New Delhi – 110055, Delhi, India to the present
address w.e.f 19.11.2010
Financial Results
:
During the period the company has earned a net profit of Rs.2.805
millions [before tax] as compared to previous year profit of Rs.2.789 millions
[before tax]. The profit after tax for the financial year 2009-10 is Rs.2.044
millions as compared to last previous year profit of Rs.2.174 millions
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51909DL2004PTC126349 |
|
Name of the
company |
SUKI CREATIONS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
42-B, 1st Floor, |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10051881 |
|
Type of charge |
|
|
Particular of
charge holder |
Axis Bank Limited, B – 2 and 3, Sector 16, Noida – 201301, Uttar
Pradesh, India |
|
Nature of
instrument creating charge |
Declaration cum
deed of confirmation for the extension of mortgage and record of mortgage by
deposit of title deeds dated 10.03.2011 |
|
Date of
instrument Creating the charge |
10.03.2011 |
|
Amount secured by
the charge |
Rs.39.800
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Cash Credit -Base Rate (9.00%) + 4.50 i.e. presently 13.50 p.a. Term Loan I II
and III - Base Rate ( 9.00%) + 4.50 i.e. presently 13.50 p.a. Letter of Credit
- 50% of Bank's standard charges Terms of
Repayment - Cash Credit- On demand Term Loan - I- 18
Quarterly installments of Rs. 0.389 millions each Term Loan - II-
12 Qtrly installments of 0.150 million each Term Loan - III -
15 quarterly installments - 14 installments of 0.350 millions and final
installment of 0.100 millions Margin - Cash
Credit - Inventory 25% Book Debts (< 60 days) -35% Term Loan- I-
39.63% Term Loan-II-
22.25% Term Loan-III-
37.04% Extent and
Operation of the charge - The Charge of Axis Bank Limited shall operate for
the total Credit limits of Rs. 39.800 millions sanctioned to the Company ,
together with interest, commission, legal and other costs etc. on the Present
and Future Current Assets and Fixed Assets of the Company wherever situated
and IP of the company at A-2/2-3, Site-B. Surajpur Industrial Area, Greater
Noida, Guatam Budh, Nagar-Uttar Pradesh |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Land and Building
situated at A-2/2-3, Site-B, Surajpur Industrial Area, Greater Noida, Gautam
Budh Nagar, U.P. Current Assets and Fixed Assets of the Company wherever |
|
Date of
instrument modifying the charge |
07.07.2010 |
|
Particulars of the
present modification |
Extension of
mortgage has been created on immovable property of the company located at
A-2/2-3, Site-B, Surajpur Industrial Area, Greater Noida, Gautam Budh Nagar,
for credit limits granted to Suki Creations Private Limited. Existing charge
on present and future current assets and fixed assets of the company. |
FIXED ASSETS :
- Building
- Plant
- Testing
Equipments
- Cycle
- DG Set
- Furniture and
Fixtures
- Computer
- Water Cooler
- Office
Equipments
- Electrical
Fitting
- Car
- Motor Cycle
- Tempo
- Printing Machine
- Transformer
- UPS
- Washing Machine
- Fan
- Air Conditioner
- Fire Extinguisher
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.44.94 |
|
|
1 |
Rs.73.46 |
|
Euro |
1 |
Rs.64.58 |
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 |
4 |
|
--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 |
|
44 |
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.