MIRA
INFORM REPORT
|
Report Date : |
02.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
SKY SCREEN PRIVATE LIMITED |
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Registered
Office : |
118, Thomas Villa, Sion (East), Mumbai-400022, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
11.07.2008 |
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Com. Reg. No.: |
11-184542 |
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CIN No.: [Company Identification
No.] |
U74900MH2008PTC184542 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS61061A |
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|
PAN No.: [Permanent Account No.] |
AAMCS14713 |
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|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Trader of Screen Printing Material. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 28000 |
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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 a company having moderate track. There appears some
accumulated losses recorded by the company. 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. |
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 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Vajju |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-24021144 |
|
Date : |
01.03.2011 |
LOCATIONS
|
Registered Office : |
118, Thomas Villa, Sion (East), Mumbai-400022, |
|
Tel. No.: |
91-22-24021144/ 24021155/ 1166/ 28986981 |
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Fax No.: |
91-22-24021166/ 28986981 |
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E-Mail : |
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Website : |
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Area : |
2500 sq.ft. (Owned) |
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Warehouse 1 : |
Gala No. BMI-1, Devidayal Industrial Estate, Reay, Mumbai-400010, |
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Area : |
3000 sq.ft. (Owned) |
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Location : |
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Warehouse 2 : |
Government Industrial Estate, plot No. 15, Phase-II, Village Piparia,
Silvasa-395230, Dadara and Nagar Haveli, India |
|
Area : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Amberish S Dalal |
|
Designation : |
Director |
|
Address : |
9, Ashwamegh Bunglows II, |
|
Date of Birth/Age : |
22.11.1952 |
|
Date of Appointment : |
29.08.2008 |
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|
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|
Name : |
Mr. Anil R Brahmbhatt |
|
Designation : |
Director |
|
Address : |
12 Amar Bhavan, |
|
Date of Birth/Age : |
18.02.1964 |
|
Date of Appointment : |
23.12.2010 |
|
|
|
|
Name : |
Mr. Samir Bharat Pathak |
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Designation : |
Director |
|
Address : |
704, Jupiter Apartments, Chkuwadi, Borivali West, Mumbai-400092, |
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Date of Birth/Age : |
14.10.1978 |
|
Date of Appointment : |
11.07.2008 |
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Date of Ceasing: |
01.10.2008 |
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DIN No.: |
01632847 |
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|
|
Name : |
Mr. Paras Vijay Shah |
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Designation : |
Director |
|
Address : |
E18, B503, Yogi Nagar, Borivali (West), Mumbai-400092, |
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Date of Birth/Age : |
05.03.1978 |
|
Date of Appointment : |
11.07.2008 |
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Date of Ceasing: |
01.10.2008 |
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DIN No.: |
01632845 |
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|
|
|
Name : |
Mr. Himanshu Surendra Tewari |
|
Designation : |
Director |
|
Address : |
Bunglow No. 28, Enclve A M Meelkanthwoods Mulbaug, Thane-400610, |
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Date of Birth/Age : |
19.07.1969 |
|
Date of Appointment : |
29.08.2008 |
|
Date of Ceasing: |
30.07.2010 |
KEY EXECUTIVES
|
Name : |
Ms. Vajju |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
International Screen Solutions Pte Limited, |
|
505209 |
|
Martin Stacher |
|
1 |
|
Total |
|
505210 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Screen Printing Material. |
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|
|
Terms : |
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Selling : |
Cash and Credit (30-60-90 Days) |
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Purchasing : |
Cash and Credit (30-60-90 Days) |
GENERAL INFORMATION
|
Customers : |
End Users, OEM’s and Others |
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No. of Employees : |
Not Divulged by the Management |
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Bankers : |
Dena Bank, |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jayesh Sangharajka and Company Chartered Accountant |
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Address : |
405-408, Hind Rajasthan Centre, |
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Tel. No.: |
91-22-40774600 |
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Fax No.: |
91-22-40774606 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
505210 |
Equity Shares |
Rs. 10/-
each |
Rs. 5.052
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
5.052 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
10.399 |
|
|
3] Reserves & Surplus |
|
5.447 |
0.000 |
|
|
4] (Accumulated Losses) |
|
[3.474] |
[5.068] |
|
|
NETWORTH |
|
7.025 |
5.431 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.017 |
0.022 |
|
|
|
|
|
|
|
|
TOTAL |
|
7.042 |
5.453 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.030 |
1.155 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
8.829
|
8.542 |
|
|
Sundry Debtors |
|
15.558
|
9.954 |
|
|
Cash & Bank Balances |
|
4.018
|
4.245 |
|
|
Other Current Assets |
|
0.373
|
0.458 |
|
|
Loans & Advances |
|
0.857
|
0.867 |
|
Total
Current Assets |
|
29.635
|
24.066 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
21.849
|
19.002 |
|
|
Other Current Liabilities |
|
1.571
|
0.867 |
|
|
Provisions |
|
0.304
|
0.033 |
|
Total
Current Liabilities |
|
23.724
|
19.902 |
|
|
Net Current Assets |
|
5.911
|
4.164 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.101 |
0.134 |
|
|
|
|
|
|
|
|
TOTAL |
|
7.042 |
5.453 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
57.715 |
20.712 |
|
|
|
Other Income |
|
1.564 |
0.089 |
|
|
|
TOTAL (A) |
|
59.279 |
20.801 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Preliminary Expenses |
|
0.034 |
0.034 |
|
|
|
Other Expenses |
|
57.144 |
25.656 |
|
|
|
TOTAL (B) |
|
57.178 |
25.690 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
2.101 |
[4.889] |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
2.101 |
[4.889] |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.208 |
0.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
1.893 |
[5.012] |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.299 |
0.056 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
1.594 |
[5.068] |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
[5.068] |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
3.474 |
[5.068] |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
0.546 |
0.111 |
|
|
TOTAL EARNINGS |
|
0.546 |
0.111 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
3.16 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
2.69 |
[24.36] |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.28 |
[24.20] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.17 |
[19.87] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.27 |
[0.92] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.38 |
3.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.25 |
1.21 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors (Subject to verification, as certified by the Management) |
21.849 |
19.002 |
|
Total |
21.849 |
19.002 |
Note:
The Registered office of the company has been shifted from 224,
Champaklal Industrial Estate, Sion (East), Mumbai-400022,
Trade References:
·
·
Performance:
The company has achieved total turnover of Rs.
57.715 Millions in the second year of operation. The company is optimistic to
post better growth and profitability in the F.Y. 2010-11
Company Overview:
The company is engaged in the business of
Trading of Screen Printing Material.
The Financial statements are prepared to
comply in all material aspects with the applicable accounting principles in
India, the accounting standards issued by the Institute of Chartered
Accountants of India and the relevant provision of “The Companies Act, 1956”.
Basic of Preparation of Financial Statements:
The financial statements have been prepared
under the historical cost convention in accordance with the generally accepted
accounting principles in
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74900MH2008PTC184542 |
|
Name of the
company |
SKY SCREEN PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
118, Thomas Villa, Sion (East), Mumbai-400022, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Dena Bank, |
|
Nature of
instrument creating charge |
Agreement of Hypothecation
(Goods, Book –Debts and Other Movable Assets to secure Multiple Facilities |
|
Date of
instrument Creating the charge |
22.09.2010 |
|
Amount secured by
the charge |
Rs. 5.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate+ 6%
i.e. (8.25% + 6% = 14.25% p.a.) with monthly rest or at such other rate as
would be fixed by the ban from time to time Terms of
Repayment On Demand Margin Margin to be maintained
for cash credit at 50% on stock and 25% on book debts or at such other rate
as may be stipulated by the bank form time to time Extent and
Operation of the charge Security created
by way of first charge and to cover the principal amount together with
interest, discount, commission, charges, costs, Expenses etc. Others Security created
in respect of cash credit (Stock/ Book debts) facility |
|
Short particulars
of the property charged |
a) All stocks of
raw materials, goods in process and finished goods such as screen printing
material and stencils etc., both present and future now or hereafter in
course of transit to any godowns, athas or place whatsoever and wheresoever
in the possession or occupation of the company; b) All the
tangible, movable properties and assets of the company of whatsoever nature
including plant, machinery, tools and accessories, stores, spares relating to
plant and machinery, furniture, articles, office equipments, computers, and
things belonging to the company and lying and being at their premises/
factories at 1/Gala BMI 1, Devi Dayal Industrial Estate, Reay Road,
2/Government Industrial Estate, Plot No.15, Phase II, Village Piparia,
Silvassa (D and NH) 396230 being movable properties and capable of passing
delivery, both present and future, whether installed or not and whether now
lying loose or in cases and now being or at any time hereinafter brought into
or upon or at any time in course of transit to the premises/ factories of the
company at 1/ Gala BMI 1, Devi Dayal Industrial Estate, Reay Road, 2/
Government Industrial Estate, Plot No.15, Phase II, Village Piparia, Silvassa
(D and NH) 396230 either by way of substitution or addition or other place
whatsoever and wheresoever in the possession or occupation of the company; c) All the
present and future book debts, outstandings, moneys, receivables, claims,
bills, rights, to or in movable properties and movable assets and which are
now due, owing or payable or belonging o the Company or which may at anytime
hereafter become due, owing, payable or belonging to the company in the
course of its business or project whatever in the public sector. |
Fixed Assets:
·
Air Conditioner
·
Computer
·
Furniture and Fixture
·
Machinery
·
Office Equipments
·
Printer
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.45.12 |
|
|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.62.32 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.