MIRA
INFORM REPORT
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Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SARVOTTAM OVERSEAS PRIVATE LIMITED |
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Registered
Office : |
C – 184, 3rd Floor, Rastogi Chamber, Madhuban, Vikas Marg, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
19.11.2007 |
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Com. Reg. No.: |
55-170550 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 millions |
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CIN No.: [Company Identification
No.] |
U52100DL2007PTC170550 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Cement, HR Coils, CR Coils and Aluminium. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 121000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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. The company can be considered for business dealings with some caution.
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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
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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 |
LOCATIONS
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Registered Office : |
C – 184, 3rd Floor, Rastogi Chamber, Madhuban, Vikas Marg, |
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E-Mail : |
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Corporate Office : |
SF-46, Ansal Fortune Arcade, Sector-18, Noida - 201 301, |
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Tel. No.: |
91-120-2456823/ 4242904/ 905 |
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Fax No.: |
91-120-2456235/ 2456887/ 4242906 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Sarvottam Mukesh Man Mohan Sahgal |
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Designation : |
Managing Director |
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Address : |
Flat No.660, Sector – 29, Noida – 201 303, |
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Date of Birth/Age : |
17.12.1952 |
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Date of Appointment : |
19.11.2007 |
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DIN No.: |
01071029 |
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Name : |
Yashi Virender Johri |
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Designation : |
Director |
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Address : |
C-1/125, Block C-I, Janak Puri, |
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Date of Birth/Age : |
05.06.1971 |
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Date of Appointment : |
19.07.2010 |
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DIN No.: |
03144676 |
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Name : |
Mr. Varun Sarvottam Mukesh Sahgal |
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Designation : |
Director |
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Address : |
Flat No.660, Sector – 29, Noida – 201 303, |
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Date of Birth/Age : |
18.09.1982 |
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Date of Appointment : |
19.11.2007 |
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Date of Ceasing : |
19.07.2010 |
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DIN No.: |
01071227 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
|
Sarvottam Mukesh Sahgal |
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995000 |
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Varun Sahgal |
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5000 |
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Total
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1000000 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Cement, HR Coils, CR Coils and Aluminium. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
v
Bank of v
Deutsche Bank v
HSBC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dublish and Associates Chartered Accountants |
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Address : |
D-88, Sector-30, Noida, District Gautam Budh Nagar, Noida – 201 301, |
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Tel. No.: |
91-120-4318295/ 296/ 2456823/ 484/ 6485499/ 6065 |
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Mobile No.: |
91-9810232402 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
ACQPD7461C |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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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 |
10.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
20.342 |
9.854 |
9.388 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
30.342 |
14.854 |
14.388 |
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LOAN FUNDS |
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1] Secured Loans |
52.452 |
29.573 |
10.750 |
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2] Unsecured Loans |
0.034 |
6.578 |
9.400 |
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TOTAL BORROWING |
52.486 |
36.151 |
20.150 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
82.828 |
51.005 |
34.538 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.156 |
0.214 |
0.000 |
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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 |
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Inventories |
88.951
|
51.844 |
0.000 |
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Sundry Debtors |
0.000
|
78.676 |
0.000 |
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Cash & Bank Balances |
0.061
|
(0.136) |
0.547 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
32.271
|
47.391 |
34.338 |
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Total
Current Assets |
121.283
|
177.775 |
34.885 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
38.472
|
126.846 |
0.000 |
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Other Current Liabilities |
0.007
|
0.000 |
0.000 |
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Provisions |
0.204
|
0.235 |
0.467 |
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Total
Current Liabilities |
38.683
|
127.081 |
0.467 |
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Net Current Assets |
82.600
|
50.694 |
34.418 |
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MISCELLANEOUS EXPENSES |
0.072 |
0.097 |
0.120 |
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TOTAL |
82.828 |
51.005 |
34.538 |
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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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Income |
204.860 |
212.586 |
2.051 |
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Other Income |
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TOTAL |
204.860 |
212.586 |
2.051 |
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Less |
EXPENSES |
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|
204.191 |
211.886 |
1.849 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
204.191 |
211.886 |
1.849 |
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PROFIT BEFORE
TAX |
0.669 |
0.700 |
0.202 |
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Less |
TAX |
0.191 |
0.235 |
0.092 |
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PROFIT AFTER TAX
|
0.478 |
0.465 |
0.110 |
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Earnings Per
Share (Rs.) |
0.48 |
0.93 |
20.20 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.23
|
0.22 |
5.36 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.55
|
0.39 |
0.58 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.02
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0.05 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.00
|
10.99 |
1.43 |
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Current Ratio (Current Asset/Current Liability) |
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3.14
|
1.40 |
74.70 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate
identity number of the company |
U52100DL2007PTC170550 |
|
Name of the
company |
SARVOTTAM OVERSEAS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C – 184, 3rd Floor, Rastogi Chamber, Madhuban, Vikas Marg, E-Mail: dublishmk@gmail.com |
|
This form is for |
Modification of
charge |
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Charge identification
number of the modified |
10084652 |
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Type of charge |
Book Debts Movable Property Floating Charge Others (Stocks) |
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Particular of
charge holder |
Bank of E-Mail: sanjay_agw@rediffmail.com |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental Deed
of Hypothecation |
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Date of
instrument Creating the charge |
04.08.2009 |
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Amount secured by
the charge |
Rs.80.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Terms of
Repayment: Payable on Demand Margin: Stocks: 25%,
Book-Debts: 40% Extent and Operation
of the charge: 100% to secure
various credit facilities up to Rs.80.000 millions, such as PC Rs.40.000
millions, FBP/FBN Rs.50.000 millions, CC Rs.20.000 millions (Sub to Max
Rs.50.000 millions), LC (I/F) Rs.80.000 millions, All sub to Max Rs.80.000
millions. |
|
Short particulars
of the property charged |
All present and
future: Tangible moveable
machinery plant stored/installed at
borrower's premises at All stocks of raw
materials, semi-finished goods and finished goods such as Steel, Ferrous and
Non-Ferrous Metals, Communication Equipment, etc. Book debts of the
Company. |
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Particulars of
the present modification |
Charge over Hypothecated
assets of the company being all present and future: STOCKS, BOOK-DEBTS and
other moveable machinery plant stored/installed at borrower's premises at NEW
DELHI or wherever else the same may be, stands enhanced from Rs.45.000
millions to Rs.80.000 millions to secure PC Rs.40.000 millions, FBP/FBN
Rs.50.000 millions, CC Rs.20.000 millions (Sub to Max Rs.50.000 millions), LC
(I/F) Rs.80.000 millions, All sub to Max Rs.80.000 millions. |
FIXED ASSETS:
v Computers
v Motor Cycle
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.44.77 |
|
|
1 |
Rs.73.45 |
|
Euro |
1 |
Rs.64.55 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
28 |
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.