%20LIMITED%20-%20144079%2017-Jun-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SVASCA INDUSTRIES ( |
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Registered Office : |
SF 20, Cross River Mall, Plot No. 9 B and 9 C (CBD) Shahdara, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
12.05.1997 |
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Com. Reg. No.: |
55-87192 |
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Capital Investment / Paid-up Capital : |
Rs.29.515 millions |
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CIN No.: [Company
Identification No.] |
u28999dl1997plc087192 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
dels15013F |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Manufacturer and Exporter of Servo Stabilizers |
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No. of Employees : |
200 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 250000 |
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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 as
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 – 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 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Sidharth |
|
Designation : |
Director |
|
Contact No.: |
91-9811030312 |
|
Date : |
01.06.2011 |
LOCATIONS
|
Registered Office : |
SF 20, Cross River Mall, Plot No. 9 B and 9 C (CBD) Shahdara, |
|
Mobile No. : |
91-9811030312 / 9971992827 [Mr. Siddarth] |
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E-Mail : |
mktg_svasca@yahoo.co.in |
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Area : |
2000 Sq. ft. |
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Location : |
Owned |
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Corporate Office : |
A-56, Jhlimil Industrial Area Shahadra, |
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Factory : |
48th Mile Stone, |
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Tel. No.: |
91-1275-401700/01-03/270399 |
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Fax No.: |
91-1275-401702 |
DIRECTORS
As on 24.09.2010
|
Name : |
Mr. Shyam Tayal |
|
Designation : |
Director |
|
Address : |
C-74, Surya Nagar, Sahibabad, |
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Date of Birth/Age : |
06.10.1956 |
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Qualification : |
B.Com |
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Date of Appointment : |
12.05.1997 |
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Name : |
Mr. Sidharth Tayal |
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Designation : |
Director |
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Address : |
C-74, Surya Nagar, Sahibabad, |
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Date of Birth/Age : |
14.08.1997 |
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Qualification : |
M.B.A. |
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Date of Appointment : |
01.04.1998 |
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Name : |
Mr. Girish Tayal |
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Designation : |
Director |
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Address : |
C-74, Surya Nagar, Sahibabad, |
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Date of Birth/Age : |
15.04.1967 |
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Qualification : |
B.Com |
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Date of Appointment : |
12.05.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
1.
Aditya Tayal |
|
73600 |
|
2.
Ajay Kumar Rai |
|
2000 |
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3.
Ajay Kumar Verma |
|
26500 |
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4.
Anshu Tayal |
|
34500 |
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5.
Anju Deswal |
|
24000 |
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6.
Badri Raman |
|
4500 |
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7.
Baljit |
|
4000 |
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8.
Bijender Singh Deswal |
|
38500 |
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9.
Cheena Tayal |
|
74310 |
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10.
Chintamani |
|
10000 |
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11.
Deep Chand |
|
27700 |
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12.
Deepak Mittal |
|
25000 |
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13.
Deep Shikha Aggarwal |
|
100 |
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14.
Girish Tayal |
|
304010 |
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15.
Sh. Gulshan Chawla |
|
4500 |
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16.
Khalid |
|
42800 |
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17.
H.K.Khare |
|
16000 |
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18.
H.C.Gupta |
|
35000 |
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19.
Heena Tayal |
|
9700 |
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20.
J.B.Goyal |
|
59000 |
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21.
Kaushal Devi |
|
40000 |
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22.
Kuldeep Gupta |
|
21500 |
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23.
Kamlesh |
|
15000 |
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24.
Lab Care |
|
5000 |
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25.
Lokesh |
|
25000 |
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26.
Priya Tayal |
|
10900 |
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27.
Mahinder Tayal |
|
51510 |
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28.
Mukesh Malhotra |
|
15000 |
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29.
Mini Tayal |
|
39310 |
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30.
Nisha Tayal |
|
48210 |
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31.
Naresh |
|
20000 |
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32.
Neelesh Mangla |
|
100 |
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33.
Nitin Mangla |
|
100 |
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34.
Nahar Singh |
|
100 |
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35.
P.D. Mittal |
|
49500 |
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36.
Pushpa Devi |
|
84300 |
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37.
Pradeep Sharma |
|
35000 |
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38.
Rajbir Singh Deshwal |
|
25000 |
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39.
Rama Shankar Acharya |
|
23500 |
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40.
Rakesh Dixit |
|
26000 |
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41.
Rakesh Kumar |
|
32500 |
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42.
Master Rijul Tayal Ramdutt |
|
10000 |
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43.
Ramdutt |
|
20000 |
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44.
Subhankar Sharma |
|
4500 |
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45.
Sanjeev Bansal |
|
10000 |
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46.
S.C. Sharma |
|
3000 |
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47.
Shriniwas Verma |
|
9500 |
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48. Shyam Tayal |
|
384583 |
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49.
Shyam Tayal (HUF) |
|
29700 |
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50.
Siddharth Tayal |
|
149432 |
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51. Sunita |
|
22000 |
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52.
Sanjay Kumar Aggarwal |
|
100 |
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53. S.S.Arora |
|
100 |
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54. Sonia Tayal |
|
11000 |
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55.
Tayal Strips Private Limited |
|
299365 |
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56.
Vasundhra Tayal |
|
57200 |
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57. Vijay Tayal |
|
101110 |
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58.
Vijay Tayal(HUF) |
|
29700 |
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59.
Vishwa Bandhu |
|
5500 |
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60. Veena Rani |
|
32500 |
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61. S.K.Jain |
|
20000 |
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62. Rajiv jain |
|
26000 |
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63. Ragini Jain |
|
5000 |
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64.
Girish Tayal (SCI) |
|
138600 |
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65.
Deepanjali Syamping Works |
|
100 |
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66.
Bhagyodaya Sales |
|
100 |
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67. Hi Volt Magnet |
|
100 |
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68. Single Strips Limited |
|
100 |
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69. Tripti Tayal |
|
49000 |
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70. Ashok Thakur |
|
50000 |
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71.
Pavitra
Vinmay Private Limited |
|
27500 |
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72.
Laxmi
Vinmay Private Limited |
|
25000 |
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73.
Apri
Beverages and Foods Private Limited |
|
2000 |
|
74.
Monisha
Impex Private Limited |
|
20000 |
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75.
Ahy
Foods Products Limited |
|
500 |
|
76.
East
India Power Grid Company Private Limited |
|
10000 |
|
77.
Stuti
Holiday Resorts Limited |
|
10000 |
|
78.
Saraogi
Commercials Private Limited |
|
2500 |
|
79.
Uplink
Vyaar Private Limited |
|
2500 |
|
Total |
|
2951540 |
AS ON :30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate
|
|
14.00 |
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Directors or relatives of directors |
|
86.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Servo Stabilizers |
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Products : |
·
Power Distribution Transformers ·
Furnace transformers ·
Servo Stabilizers ·
Rectifier transformers, etc |
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Exports : |
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Products : |
Servo Stabilizers |
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Countries : |
·
·
·
·
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
200 Approximately |
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Bankers : |
· Bank of India, Connaught Circus Branch, H-0 16, Indra Place, Middle Circle, Connaught Circle New Delhi – 110 001 · Allahabad Bank · Ing Vysya Bank · HDFC bank · ICICI bank Limited · IDBI bank · Standard Chartered Bank |
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Facilities : |
Rs in Millions
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Naveen upadhyaya and associates Chartered Accountants |
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Address : |
E 186, Basement, krishna
Market, Lajpat Nagar – I, |
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Tel No. : |
91-11-29810619 |
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Mobile No. : |
91-9911334882 |
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Email : |
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PAN No. : |
AADFN1033H |
CAPITAL STRUCTURE
after 24.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3071540 |
Equity Shares |
Rs. 10/- each |
Rs. 30.715 millions |
As on: 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2951540 |
Equity Shares |
Rs. 10/- each |
Rs. 29.515 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 |
29.515 |
28.515 |
28.515 |
|
|
2] Share Application Money |
0.300 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
31.502 |
9.858 |
7.615 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
61.317 |
38.373 |
36.130 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
120.382 |
85.823 |
73.137 |
|
|
2] Unsecured Loans |
41.919 |
34.931 |
24.813 |
|
|
TOTAL BORROWING |
162.301 |
120.754 |
97.950 |
|
|
DEFERRED TAX LIABILITIES |
0.985 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
224.603 |
159.127 |
134.080 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
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FIXED ASSETS [Net Block] |
27.471 |
20.398 |
17.220 |
|
|
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 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
68.004
|
56.589 |
69.427
|
|
|
Sundry Debtors |
151.191
|
121.882 |
68.255
|
|
|
Cash & Bank Balances |
11.925
|
10.176 |
6.807
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
21.958
|
21.710 |
22.511
|
|
Total
Current Assets |
253.078
|
210.357 |
167.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
50.863
|
56.723 |
36.411
|
|
|
Other Current Liabilities |
3.862
|
13.644 |
13.252
|
|
|
Provisions |
1.221
|
1.375 |
0.745
|
|
Total
Current Liabilities |
55.946
|
71.742 |
50.408 |
|
|
Net Current Assets |
197.132
|
138.615 |
116.592 |
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.268 |
|
|
Deferred Revenue Expenditure |
0.000 |
0.114 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
224.603 |
159.127 |
134.080 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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|
SALES |
|
|
|
|
|
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|
Sales Turnover |
350.456 |
315.157 |
188.836 |
|
|
|
Job Work |
1.449 |
6.713 |
1.019 |
|
|
|
Other Income |
2.935 |
3.187 |
4.927 |
|
|
|
TOTAL (A) |
354.840 |
325.057 |
194.782 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
281.955 |
262.843 |
144.024 |
|
|
|
Administrative Expenses |
7.945 |
3.824 |
1.855 |
|
|
|
Personal Expense |
5.396 |
4.333 |
2.737 |
|
|
|
Increase/(Decrease) in Finished Goods |
(11.665) |
(7.968) |
(3.293) |
|
|
|
Selling and Distribution Expense |
7.137 |
1.664 |
0.725 |
|
|
|
Manufacturing Expenses |
37.673 |
40.599 |
33.455 |
|
|
|
TOTAL (B) |
328.441 |
305.295 |
179.503 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
26.399 |
19.762 |
15.279 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.798 |
14.449 |
11.725 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.601 |
5.313 |
3.554 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.624 |
2.179 |
1.713 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.977 |
3.134 |
1.841 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1.333 |
0.892 |
0.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2.644 |
2.242 |
1.434 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
400.000 |
The above information has been parted by Mr. Sidharth
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.75 |
0.69 |
0.74 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.13 |
0.96 |
0.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
1.42 |
1.36 |
1.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.08 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.56 |
5.02 |
4.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.52 |
2.93 |
3.31 |
LOCAL AGENCY FURTHER INFORMATION
change of address:-
The Registered Office of the company has been shifted from E-186,
Krishna Market, Lajpat Nagar – I,
FINANCIAL RESULTS
During the
year, the gross receipts of the company are Rs. 354.839 Millions, as compared
to Rs. 325.057 Millions during the previous year. The Net Profit of the company
has been increased from Rs. 3.134 Millions to Rs. 3.976 Millions during the
year.
form 8:-
|
Corporate
identity number of the company |
u28999dl1997plc087192 |
||||||
|
Name of the
company |
SVASCA INDUSTRIES
( |
||||||
|
Address of the
registered office or of the principal place of business in |
E-186, Krishna Market, Lajpat Nagar – I, |
||||||
|
This form is for |
Modification of
Charge |
||||||
|
Charge
identification number of the charge to be modified |
90038142 |
||||||
|
Type of charge |
Immovable Property |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
No Instrument.
Oral Assent for extension of equitable mortgage |
||||||
|
Date of
instrument Creating the charge |
27.09.2010 |
||||||
|
Amount secured by
the charge |
Rs. 290.000
millions |
||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: As may be
prescribed by the bank from time to time. Terms of
repayment: Payable on Demand
Margin: As may be
prescribed by the bank from time to time. Extent and
operation of the charge 100 percent. |
||||||
|
Short particulars
of the property or assets charged |
Hypothecation of
stocks, book debts and plant and machinery etc. |
||||||
|
Particulars of
the present modification |
The enhanced
credit facilities aggregating to Rs.290.000 Millions shall also be
collaterally secured by equitable mortgage by deposit of title deeds in
respect of immovable property of company situated at Mustatil No.122, Kila
No.13/1(4-0), 8/2 Min.(1-4) total 5 Kanal, 14 Marlas, Village - Prithala,
Tehsil- Palwal, Distt- Faridabad, Haryana together with all buildings,
super-structure, fixed machinery and plant, fixture and fittings thereat. Other terms and
conditions remained the same. |
Fixed Assets
· Office Equipments
· Land
· Building
· Plant and Machinery
· Cellular
· Wireless
· Computer
· Xerox Machine
· EPBAX
· Cooler
· Wireless
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.44.90 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.63.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
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.