MIRA INFORM REPORT
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Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SNS OVERSEAS PRIVATE LIMITED |
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Registered
Office : |
145, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
15.06.1992 |
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Com. Reg. No.: |
11-67222 |
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Capital Investment
/ Paid-up Capital : |
Rs. 2.500 millions |
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CIN No.: [Company
Identification No.] |
U51900MH1992PTC067222 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
MUMS36303B |
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PAN No.: [Permanent
Account No.] |
AAECS3940E |
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Legal Form : |
Private limited liability company |
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Line of Business
: |
Exporters, Importers, Merchants, Traders, Stockists, Suppliers,
Indentors of Chemicals / Drugs, Electronic Items, Aluminium Foils, Licenses,
Paper, etc |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit
Limit : |
USD 73084 |
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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 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) |
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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 : |
145, |
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Tel. No.: |
91-22-22822968 / 22834100 |
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Fax No.: |
91-22- 22813185 |
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E-Mail : |
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Website : |
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Branches : |
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DIRECTORS
AS ON 09.07.2010
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Name : |
Mrs. Prabha Suresh Deorah |
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Designation : |
Director |
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Address : |
29, 69-B, |
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Date of Birth/Age : |
29.11.1950 |
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Date of Appointment : |
24.06.2004 |
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Name : |
Mr. Suhrid Suresh Deorah |
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Designation : |
Director |
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Address : |
18, 69-B, |
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Date of Birth/Age : |
23.06.1984 |
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Date of Appointment : |
21.05.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 09.07.2010
|
Names of Shareholders |
No. of Shares |
|
Mr. Neeraj Suresh Deorah |
62550 |
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Mrs. Prabha Suresh Deorah |
124900 |
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Mr. Suhrid Suresh Deorah |
62550 |
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Total |
250000 |
EQUITY SHARE
BREAKUP
AS ON 09.07.2010
|
Category |
Percentage |
|
Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Exporters, Importers, Merchants, Traders, Stockists, Suppliers, Indentors
of Chemicals / Drugs, Electronic Items, Aluminium Foils, Licenses, Paper, etc |
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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 : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
Vinod Rana and Company Chartered Accountants |
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Address |
52, 1st Khattar Gali, No. 47, 1st Floor, |
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Tel. No.: |
91-22-23896484 |
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Fax No.: |
91-22-23880951 |
CAPITAL STRUCTURE
AS ON 09.07.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 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 |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
15.771 |
16.484 |
15.567 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
18.271 |
18.984 |
18.067 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
3.522 |
2.135 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
3.522 |
2.135 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
18.271 |
22.506 |
20.202 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
24.310 |
26.482 |
24.856 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
5.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.796 |
0.522 |
0.380 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
16.845
|
30.989
|
64.186
|
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Sundry Debtors |
81.504
|
66.326
|
30.061
|
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Cash & Bank Balances |
9.091
|
6.707
|
9.570
|
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
19.258
|
27.143
|
8.427
|
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Total
Current Assets |
126.698
|
131.165
|
112.244 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
125.166
|
123.619
|
106.379
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Current Liabilities |
4.238
|
4.238
|
4.237
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Provisions |
9.129
|
7.806
|
6.662
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Total
Current Liabilities |
138.533
|
135.663
|
117.278
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Net Current Assets |
(11.835)
|
(4.498)
|
(5.034)
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
18.271 |
22.506 |
20.202 |
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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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SALES |
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Sales Turnover and Other Income |
303.044 |
280.024 |
266.564 |
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TOTAL (A) |
303.044 |
280.024 |
266.564 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
295.937 |
273.812 |
258.314 |
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Advertising Expenses |
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TOTAL (B) |
295.937 |
273.812 |
258.314 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.107 |
6.212 |
8.250 |
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Less |
FINANCIAL
EXPENSES (D) |
0.553 |
0.249 |
0.602 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.554 |
5.963 |
7.648 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.878 |
2.494 |
2.180 |
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PROFIT BEFORE
TAX (E-F) (G) |
3.676 |
3.469 |
5.468 |
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Less |
TAX (H) |
1.261 |
1.327 |
1.920 |
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PROFIT AFTER TAX
(G-H) (I) |
2.415 |
2.142 |
3.548 |
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EARNINGS IN
FOREIGN CURRENCY |
2.997 |
4.167 |
2.773 |
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IMPORTS |
186.429 |
136.984 |
161.234 |
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Earnings Per
Share (Rs.) |
9.66 |
40.00 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.79 |
0.76 |
1.33 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.21 |
1.24 |
2.05 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.43 |
2.20 |
3.99 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.18 |
0.30 |
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Debt Equity Ratio (Total Liability/Networth) |
|
7.58 |
7.33 |
6.61 |
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Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.97 |
0.96 |
LOCAL AGENCY FURTHER INFORMATION
Change of Address:
The Registered Office of the company has been shifted from 76, Atlana, 209,
Nariman Point, Mumbai – 400 021,
Fixed Assets:
- Office
Equipment
- Vehicle
- Furniture and
Fixtures
- Computer
Form No. 8
|
Corporate
identity number of the company |
U51900MH1992PTC067222 |
|
Name of the
company |
SNS OVERSEAS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
76, Atlana, 209, Nariman Point, Mumbai – 400 021, |
|
This form is for |
Creation of
charge |
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Type of charge |
Immovable
property |
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Particular of
charge holder |
ICICI Bank Limited |
|
Nature of
instrument creating charge |
Facility
agreement dated 15.11.2006 |
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Date of
instrument Creating the charge |
15.11.2006 |
|
Amount secured by
the charge |
Rs.12.100
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of interest Floating rate 10.75% ·
Terms
of repayment 180 months EMI of Rs.0.136 million commencing from 01.01.2007 ·
Margin
Loan amount not to exceed 68.63% of the Value of the property ·
Extent
and operation of the charge Continued till the repayment of entire Bank dues |
|
Particulars of
the property charged |
Office No. 145,
14th Floor, Atlanta Premises Co-Operative Society Limited Nariman
Point, Plot No. 209, Mumbai 400 021 |
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.44.82 |
|
|
1 |
Rs.72.84 |
|
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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|
--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 |
|
49 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.