MIRA
INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHALIMAR PRECISION ENTERPRISES PRIVATE LIMITED |
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Registered Office
: |
A - 61, Naraina Industrial Area, Phase-I, New Delhi-110 028 |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.04.2006 |
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Com. Reg. No.: |
55 -148494 |
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Capital Investment
/ Paid-up Capital : |
Rs. 1.000 million |
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CIN No.: [Company Identification
No.] |
U74991DL2006PTC148494 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS30261A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Automobile Spare Part, Bicycle Parts,
Hand Tools, Electrical, Sanitary, Handicraft items and Public Address
Systems. |
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No. of Employees
: |
100 (In office-40 and In Factory-60) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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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 280000 |
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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 |
|
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 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Rajan Kochhar |
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Designation : |
Director |
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Contact No.: |
91-9810131949 |
|
Date : |
24.06.2011 |
LOCATIONS
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Registered Office/ Factory : |
A-61, Naraina Industrial Area, Phase-I, New Delhi-110028, Delhi, India |
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Tel. No.: |
91-11-45003000 |
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Mobile No.: |
91-9810131949 (Mr. Rajan Kochhar) |
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Fax No.: |
91-11-25892131 |
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E-Mail : |
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Website : |
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Area : |
1300 sq. ft. |
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Location : |
Owned |
DIRECTORS
AS ON 25.09.2010
|
Name : |
Mr. Rahul Kochhar |
|
Designation : |
Director |
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Address : |
B -6/73, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
15.02.1984 |
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Qualification : |
MBA |
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Date of Appointment : |
01.05.2006 |
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Email: |
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Name : |
Mr. Siddharth Kochhar |
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Designation : |
Director |
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Address : |
B -6/72, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
04.06.1985 |
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Date of Appointment : |
01.05.2006 |
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Email: |
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DIN No : |
00672112 |
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Name : |
Mr. Rajan Kochhar |
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Designation : |
President |
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Address : |
B -6/73, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
02.03.1958 |
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Qualification : |
M.Com |
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Date of Appointment : |
01.05.2006 |
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DIN No : |
00028900 |
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Name : |
Mrs. Poonam Kochhar |
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Designation : |
Director |
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Address : |
B -6/73, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
28.11.1960 |
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Qualification : |
M.Com |
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Date of Appointment : |
01.05.2006 |
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DIN No : |
00669588 |
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Name : |
Mr. Shailender Kochhar |
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Designation : |
Director |
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Address : |
B -6/72, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
25.01.1960 |
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Qualification : |
M.Com |
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Date of Appointment : |
01.05.2006 |
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Name : |
Mrs. Rati Kochhar |
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Designation : |
Director |
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Address : |
B -6/72, Safederjang Enclave, new Delhi – 110 029, India |
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Date of Birth/Age : |
28.06.1961 |
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Qualification : |
MBA |
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Date of Appointment : |
01.05.2006 |
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DIN No : |
00125498 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2010
|
Names of Shareholders |
No. of Shares |
|
Rajan Kochhar |
1320 |
|
Shalindar Kochhar |
1320 |
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Poonam Kochhar |
1660 |
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Rati Kochhar |
1660 |
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Rahul Kochhar |
320 |
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Sidharth Kochhar |
320 |
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Arambha Kochhar |
1700 |
|
Hanwant Rai Kochhar |
1700 |
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Total |
10000 |
AS ON 25.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Automobile Spare Part, Bicycle Parts,
Hand Tools, Electrical, Sanitary, Handicraft items and Public Address
Systems. |
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Products : |
· Steering and Suspension Parts · Gears · Bearings · Cables · Gaskets · Pulleys · Trailer |
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Exports : |
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Products : |
·
Automobile Spare Parts |
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Countries : |
·
China ·
Africa |
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Imports : |
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Products : |
·
Raw Material |
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Countries : |
·
China |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days) |
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Purchasing : |
L/C, Cash, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
End Users |
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No. of Employees : |
100 (In office-40 and In Factory-60) (Approximately) |
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Bankers : |
·
Canara
Bank, Overseas Main Branch, B -39, Connaught Circus, New Delhi-110 001, Delhi,
India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Nayyar and Malik Chartered Accountant |
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Address : |
370 A, Sant Nagar, East of Kailash New Delhi-110065, India. |
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Tel. No.: |
91-11-26475567/26476482 |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
10000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
10000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
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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 |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
70.354 |
58.259 |
35.637 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
71.354 |
59.259 |
36.637 |
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LOAN FUNDS |
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|
1] Secured Loans |
32.066 |
45.957 |
57.652 |
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2] Unsecured Loans |
21.010 |
40.262 |
78.325 |
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TOTAL BORROWING |
53.076 |
86.219 |
135.977 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
124.430 |
145.478 |
172.614 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.638 |
19.252 |
19.271 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.016 |
4.659 |
4.748 |
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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 |
48.414
|
0.000
|
0.000 |
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Sundry Debtors |
39.483
|
73.557
|
113.906 |
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Cash & Bank Balances |
10.260
|
5.697
|
3.204 |
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Other Current Assets |
7.678
|
52.477
|
52.152 |
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Loans & Advances |
44.015
|
37.444
|
30.406 |
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Total
Current Assets |
149.850
|
169.175 |
199.668 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
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Sundry Creditors |
12.118
|
12.079
|
22.757 |
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Other Current Liabilities |
7.697
|
5.089
|
10.196 |
|
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Provisions |
28.267
|
30.457
|
18.144 |
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Total
Current Liabilities |
48.082
|
47.625 |
51.097 |
|
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Net Current Assets |
101.768
|
121.550
|
148.571 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.017 |
0.024 |
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TOTAL |
124.430 |
145.478 |
172.614 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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TURNOVER |
317.813 |
285.771 |
348.931 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
|
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Financial |
297.497 |
250.836 |
325.865 |
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Depreciation |
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Advertising Expenses |
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TOTAL |
297.497 |
250.836 |
325.865 |
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PROFIT BEFORE
TAX |
20.316 |
34.935 |
23.066 |
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Less |
TAX |
8.221 |
12.313 |
7.955 |
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PROFIT AFTER TAX
|
12.095 |
22.622 |
15.111 |
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Earnings Per Share
(Rs.) |
120.90 |
226.20 |
151.10 |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
340.000 |
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The above information has been parted by Mr. Rajan Kochhar.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
6.39
|
12.22
|
6.61 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.99
|
18.54
|
10.53 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.59
|
0.63 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.42
|
2.26
|
5.11 |
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|
Current Ratio (Current Asset/Current Liability) |
|
3.12
|
3.55
|
3.91 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate
identity number of the company |
U74991DL2006PTC148494 |
|
Name of the
company |
SHALIMAR
PRECISION ENTERPRISES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-61, Naraina Industrial Area, Phase-I, New Delhi-110028, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Canara Bank, Overseas Main Branch, B -39,
Connaught Circus, New Delhi-110 001, |
|
Nature of
instrument creating charge |
Supplemental
agreement, link letter in respect of enhancement of credit facilities letter
of renewal. |
|
Date of instrument
Creating the charge |
18.11.2010 |
|
Amount secured by
the charge |
Rs. 30.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 10% p.a. subject
to change from time to time. Terms of repayment On demand Margin 25% Extent and operation of the charge 100% Other The above to
secure pc limit of Rs. 30.000 millions. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of present
and future stock of automobile and spare parts and such other goods belonging
to the company and acceptable to the bank now lying or hereafter stored at
company’s premises or at any other places including those in transit.
Receivables of the company. |
|
Charge
identification number of the charge to be modified |
10011973 |
|
Date of
instrument modifying the charge |
04.08.2008 |
|
Particulars of
the present modification |
The pc limit
stands enhanced from Rs. 22.500 millions to Rs. 30.000 millions. |
Fixed Assets:
- Lease Hold Improvement
- Lift
- Furniture and Fixtures
- Computer Printer
- Air Condition
- Clock
- Electronic Security Systems
- Fax
- Fan
- Motor
- Camera
- Telephone
- Machinery
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.45.10 |
|
|
1 |
Rs.71.87 |
|
Euro |
1 |
Rs.63.75 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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.