MIRA
INFORM REPORT
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Report Date : |
09.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SURYA PENALS AND BOARDS PRIVATE LIMITED |
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Registered
Office : |
11 C / GH - 10, Paschim Vihar, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
26.05.1994 |
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Com. Reg. No.: |
55-059228 |
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Capital
Investment / Paid-up Capital : |
Rs.7.964 millions |
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CIN No.: [Company Identification
No.] |
U74899DL1994PTC059228 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RTKS04525D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Plywood, Black Boards, Flush Doors and Panel Doors |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B [29] |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 37000 |
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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 an established company having Moderate track. Profitability
of the company appears to be low. However, 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
LOCATIONS
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Registered Office : |
11 C / GH - 10, Paschim Vihar, |
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E-Mail : |
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Works : |
16 K.M. Mile Stone, Village Kharawar, |
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Tel. No.: |
91-1262-288169 / 288112 / 245301 / 254074 |
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Fax No.: |
91-1262-258301 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Rajesh Kumar Toteja |
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Designation : |
Director |
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Address : |
50, Mansarovar Colony, |
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Date of Appointment : |
26.05.1994 |
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DIN : |
01905353 |
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Name : |
Mr. Sanjay Kumar Toteja |
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Designation : |
Director |
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Address : |
104, Mansarovar Colony, |
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Date of Appointment : |
01.07.2003 |
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DIN : |
01909136 |
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Name : |
Mr. Prem Rattan Toteja |
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Designation : |
Director |
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Address : |
104, Mansarovar Colony, |
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Date of Appointment : |
26.05.1994 |
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DIN : |
01909160 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rajesh Kumar Toteja |
|
62200 |
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Sanjay Kumar Toteja |
|
54500 |
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Prem Rattan Toteja |
|
49000 |
|
Bhawnesh Kumar Toteja |
|
72000 |
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Komal Toteja |
|
52200 |
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MamtaToteja |
|
17500 |
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Nirupama Toteja |
|
33900 |
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Neha Toteja |
|
20000 |
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Priyanka Gulati |
|
29550 |
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Rajesh Kumar and Sons HUF |
|
46700 |
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Sakshi Toteja |
|
49500 |
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Sanjay Kumar and Sons HUF |
|
37500 |
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Saurabh Toteja |
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28000 |
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Vijay Kumar Toteja |
|
77260 |
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Vijay Kumar and Sons HUF |
|
22600 |
As on 30.09.2010
|
Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
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Bodies corporate |
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Directors or relatives of Directors |
100.00 |
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Other top fifty shareholders |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Plywood, Black Boards, Flush Doors and Panel Doors |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Arora and Chaudhary Associates Chartered Accountant |
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Address : |
8/28, WEA, |
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Tel. No.: |
91-11-41451114 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
800,000 |
Equity Shares |
Rs.10/-each |
Rs.8.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
796,450 |
Equity Shares |
Rs.10/-each |
Rs.7.964 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
|
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|
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1] Share Capital |
7.964 |
7.964 |
7.714 |
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2] Share Application Money |
0.000 |
0.000 |
0.250 |
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3] Reserves & Surplus |
1.483 |
1.278 |
0.901 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.447 |
9.242 |
8.865 |
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LOAN FUNDS |
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1] Secured Loans |
3.103 |
0.879 |
1.193 |
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2] Unsecured Loans |
1.444 |
1.944 |
1.820 |
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TOTAL BORROWING |
4.547 |
2.823 |
3.013 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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Subsidy From Government |
1.549 |
1.549 |
1.549 |
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TOTAL |
15.543 |
13.614 |
13.427 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.595 |
10.819 |
10.274 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.681 |
0.534 |
0.513 |
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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 |
9.852
|
11.543 |
10.674 |
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Sundry Debtors |
15.442
|
11.860 |
9.150 |
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Cash & Bank Balances |
0.148
|
0.471 |
0.737 |
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Other Current Assets |
0.750
|
0.092 |
0.016 |
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Loans & Advances |
0.069
|
0.160 |
0.128 |
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Total
Current Assets |
26.261
|
24.126 |
20.705 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
22.130
|
21.524 |
17.400 |
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Other Current Liabilities |
0.864
|
0.341 |
0.665 |
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Provisions |
0.000 |
0.000 |
0.000 |
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Total
Current Liabilities |
22.994
|
21.865 |
18.065 |
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Net Current Assets |
3.267
|
2.261 |
2.640 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
15.543 |
13.614 |
13.427 |
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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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NET PROFIT |
0.534 |
0.510 |
NA |
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Earnings Per
Share (Rs.) |
0.67 |
-- |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.91
|
2.67 |
2.04 |
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Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.10 |
1.15 |
LOCAL AGENCY FURTHER INFORMATION
Financial Results
:
The company incurred net profit of Rs.0.534 million during the year and it
expects to do better in future provisions of Section 125/138 has been compiled
in respect of all loans deposits from public were neither invithers invited nor
renewed. There are such transaction falling U/S 297/299 / 301. No concession
have been made to the relative of directors. The directors are regularly
showing and informing their interest in firms or body corporates.
The meeting were hold in accordance with the provision of the act.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74899DL1994PTC059228 |
|
Name of the
company |
SURYA PENALS AND
BOARDS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
11C/GH-10,
Paschim Vihar, |
|
This form is for |
Creation
of Charge |
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Type of charge |
|
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Particular of
charge holder |
Oriental bank of Commerce, Bhiwandi Stand, Rohtak – 124001, |
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Nature of instrument
creating charge |
Loan Doc-5
Agreement Of Term Loan Dated 04/02/2010 |
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Date of
instrument Creating the charge |
04.02.2010 |
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Amount secured by
the charge |
Rs.2.000 millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
– 11.50% Terms of
Repayment - 60 Installments of Rs 0.044 million Each Starting From 3 Month After Disbursement Margin – 25% Extent and
Operation of the charge - Hypothecation
Charge Of Plant And Machinery Situated At 16 Km Stone Village Kharawar Distt Rohtak . |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation
Charge Of Plant And Machinery Situated At
16 Km |
FIXED ASSETS :
·
Land
·
Building
·
Machinery
·
Furniture and Fixtures
·
Computer
·
Electrical Installations
·
Motor Cycle
·
Cycle
·
Car
·
Scooters
·
Water Tanker
·
Air Conditioner
·
Generator
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.44.61 |
|
|
1 |
Rs.73.27 |
|
Euro |
1 |
Rs.65.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
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--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 |
|
29 |
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.