MIRA
INFORM REPORT
|
Report Date : |
24.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAMIR SUPPLY PRIVATE LIMITED |
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Registered
Office : |
213 Udyog Bhavan, |
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Country : |
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Financials (as
on) : |
31.03.2011 (Provisional Summarized Figure) |
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Date of
Incorporation : |
16.01.1989 |
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Com. Reg. No.: |
11-050367 |
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Capital
Investment / Paid-up Capital : |
Rs.10.801
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U24111MH1989PTC050367 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Exporter and Importer of Natural Rubber, Synthetic Rubber, Tie
Layer Resin etc. |
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No. of Employees
: |
28 [(In Office 11) (In Branch 17) (Approximately)] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 640000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active Payments are reported to
be 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Bhupesh Mansukhlal Vora |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9967744144 |
|
Date : |
23.06.2011 |
LOCATIONS
|
Registered Office : |
213 Udyog Bhavan, |
|
Mobile No.: |
91-9967744144 (Mr. Bhupesh Mansukhlal Vora) |
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Fax No.: |
91-22-26862914 |
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E-Mail : |
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Website : |
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Area : |
Rented |
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Branch Office 1: |
27, F/F, |
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Tel No.: |
91-79-25453240 |
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Area : |
Owned |
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Branch Office 2: |
7-2 1/B, Neemkar Nagar, Sanath Nagar, Hyderabad-500018, |
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Tel No.: |
91-40-23812658 |
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Area : |
Rented |
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|
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Branch Office 3: |
39/5449 A, 1st Floor, Paily Bhavan, Panamppilly Nagar,
Cochin-682036, |
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Tel No.: |
91-484-6464678 |
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Area : |
Rented |
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|
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Branch Office 4: |
17/3, Universal Fastners Compound, Mathura Road, Faridabad-121002, |
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Tel No.: |
91-129-4076647 |
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Area : |
Rented |
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|
|
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Branch Office 5: |
394, SIDCO Industrial Estate, Ambattur, Near Godrej, Chennai-600038, |
|
Tel No.: |
91-44-42077837 |
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Area : |
Rented |
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|
|
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Branch Office 6: |
B/20/H/1, |
|
Area : |
Rented |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Samir Mansukhlal Vora |
|
Designation : |
Director |
|
Address : |
5th Floor, Shreeji Krupa, |
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Date of Birth/Age : |
25.11.1960 |
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Qualification : |
B. SC |
|
Experience : |
35 Years |
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|
|
|
Name : |
Mr. Bhupesh Mansukhlal Vora |
|
Designation : |
Director |
|
Address : |
701, Prakash Tower, N.S. Road # 5, JVPD Scheme, Vile Parle West,
Mumbai-400056, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1962 |
|
Qualification : |
B. Com |
|
Experience : |
35 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mansukhlal Dhanji Vora |
|
7100 |
|
Bhupesh Mansukhlal Vora |
|
527500 |
|
Swati Samir Vora |
|
56000 |
|
Samir Mansukhlal Vora |
|
477500 |
|
Sushila Mansukhlal Vora |
|
6000 |
|
Neeta Bhupesh Vora |
|
6000 |
|
|
|
|
|
Total |
|
1080100 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Natural Rubber, Synthetic Rubber, Tie
Layer Resin etc. |
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|
|
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Agencies Held : |
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Exports : |
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Products : |
Synthetic Rubber, Natural Rubber |
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Countries : |
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Imports : |
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Products : |
Synthetic Rubbers |
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Countries : |
|
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Terms : |
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Selling : |
L/C (90 days) |
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|
|
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Purchasing : |
L/ C (60 days) |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
28 [(In Office 11) (In Branch 17) (Approximately)] |
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|
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Bankers : |
Citi Bank, |
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|
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Facilities : |
Rs.240.000 Millions |
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Vinod Kumar Jain and Company Chartered Accountant |
|
Address : |
205, Apollo Arcade, R.K. Singh Marg, Off |
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Tel. No.: |
91-22-28215171/28217999 |
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Fax No.: |
91-22-28221010 |
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E-Mail : |
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Associates/Subsidiaries : |
Address: 213, Udyog Bhavan,
Address: Executive Suite Y-58, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1080100 |
Equity Shares |
Rs.10/- each |
Rs.10.801
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
PROVISIONAL
SUMMARIZED FIGURE AS ON 31ST MARCH, 2011
|
Particular |
As
on 31.03.2011 (Rs.
in Millions) |
|
|
|
|
SHAREHOLDERS
FUNDS |
|
|
Share Capital |
10.801 |
|
Reserves and Surplus |
286.928 |
|
|
|
|
Unsecured Loans |
173.267 |
|
Deferred Tax Liability |
5.629 |
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
Fixed Assets |
16.811 |
|
Investment |
9.306 |
|
|
|
|
Current Assets,
Loans Advances |
|
|
Inventories |
133.724 |
|
Sundry Debtors |
240.744 |
|
Cash & Bank Balances |
32.999 |
|
Loans & Advances |
148.211 |
|
|
|
|
Less: Current Liability and Provision |
57.839 |
|
|
|
|
Net Current Assets |
497.838 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.801 |
10.801 |
10.801 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
150.373 |
103.552 |
74.799 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
161.174 |
114.353 |
85.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.000 |
16.533 |
15.070 |
|
|
2] Unsecured Loans |
63.200 |
87.320 |
134.902 |
|
|
TOTAL BORROWING |
68.200 |
103.853 |
149.972 |
|
|
DEFERRED TAX LIABILITIES |
5.721 |
7.167 |
6.326 |
|
|
|
|
|
|
|
|
TOTAL |
235.095 |
225.373 |
241.898 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
18.523 |
21.972 |
24.139 |
|
|
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 |
63.446
|
35.705 |
73.629 |
|
|
Sundry Debtors |
175.337
|
132.149 |
155.197 |
|
|
Cash & Bank Balances |
29.222
|
39.098 |
27.724 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
32.381
|
27.371 |
32.807 |
|
Total
Current Assets |
300.386
|
234.323 |
289.357 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
83.814
|
30.922 |
71.598 |
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
83.814
|
30.922 |
71.598 |
|
|
Net Current Assets |
216.572
|
203.401 |
217.759 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
235.095 |
225.373 |
241.898 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
1743.610 |
1377.765 |
1495.887 |
1110.753 |
|
|
|
Other Income |
2.648 |
3.803 |
4.428 |
3.237 |
|
|
|
TOTAL (A) |
1746.258 |
1381.568 |
1500.315 |
1113.990 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Purchase |
1531.966 |
1172.511 |
1251.610 |
924.478 |
|
|
|
Trading Expenses |
77.967 |
108.000 |
109.111 |
90.642 |
|
|
|
Payment to and For Employees |
6.719 |
6.306 |
6.370 |
4.573 |
|
|
|
Administrative Expenses |
10.663 |
8.904 |
7.376 |
6.926 |
|
|
|
Selling Expenses |
8.846 |
5.744 |
6.501 |
40.192 |
|
|
|
Directors Remuneration |
19.200 |
19.200 |
19.200 |
19.200 |
|
|
|
Speculation Loss |
0.000 |
0.245 |
0.000 |
0.106 |
|
|
|
|
|
|
|
1086.117 |
|
|
|
Increase/ Decrease in Stocks |
(69.557) |
(27.048) |
37.924 |
(14.998) |
|
|
|
TOTAL (B) |
1585.804 |
1293.862 |
1438.092 |
1071.119 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
160.454 |
87.706 |
62.223 |
42.871 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
20.445 |
14.432 |
15.291 |
14.446 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
140.009 |
73.274 |
46.932 |
28.425 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.455 |
3.560 |
4.591 |
4.141 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
136.554 |
69.714 |
42.341 |
24.284 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
22.893 |
13.588 |
8.455 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
46.821 |
28.753 |
15.829 |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
93.552 |
64.799 |
48.970 |
|
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
140.373 |
93.552 |
64.799 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
43.35 |
26.62 |
14.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
3.39
|
1.92 |
1.42 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.83
|
5.05
|
2.83 |
2.19 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
21.86
|
16.52
|
7.75 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.43
|
0.37
|
0.28 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
NA
|
0.94
|
1.18
|
2.59 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
3.58
|
7.57
|
4.04 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- Agarwal
Rubber Limited, (Mr. Amit Agarwal)
- A.V.
Industries, (Mr. Arun Khanna)
- Falcon Tyres
Limited, (Mr. Rangrajan)
AS PER WEBSITE
DETAILS:
Management:
SAMIR VORA:
With 30 years of rich and varied experience in the field of Sales, Marketing
& Trading a man totally focused on new customers & Sales development
and the welth of possibilities the future is opening up to the fastest growing
free market democracy of INDIA,
Creating “Devotee Customers” is the philosophy followed.
BHUPESH VORA:
With 27 years of experience in the field of international trading, ably guiding
the team of personnel of the group. A good administrator and always eyeing for
the expansion, international Liaison, tie-ups and joint venture.
“Dream, Determination and Dedication” is the business philosophy
followed.
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.44.93 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.64.21 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.