MIRA
INFORM REPORT
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Report Date : |
21.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SKYWAY RMC PLANTS PRIVATE LIMITED |
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Registered
Office : |
217, Kartik Complex, New |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.04.2009 |
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Com. Reg. No.: |
11 - 191493 |
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CIN No.: [Company Identification
No.] |
U74990MH2009PTC191493 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Ready Mix Concrete |
RATING & COMMENTS
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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 267000 |
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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 a well 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
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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 |
INFORMATION DECLINED BY
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Name : |
Mr. Amit |
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Designation : |
Chief Finances Officer |
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Date : |
19.03.2011 |
LOCATIONS
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Registered Office/Factory : |
217, Kartik Complex, New |
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Tel. No.: |
91-22-42480000 |
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Fax No.: |
91-22-22868326 |
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E-Mail : |
DIRECTORS
AS ON 31.03.2010
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Name : |
Mr. Kelvin Singh Kohli |
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Designation : |
Director |
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Date of Birth/Age : |
25.05.1980 |
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Name : |
Mr. Rashmeet Singh Kohli |
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Designation : |
Director |
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Date of Birth/Age : |
18.10.1982 |
KEY EXECUTIVES
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Name : |
Mr. Amit |
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Designation : |
Chief Finances Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 02.11.2009
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Names of Share Allottee |
No. of Shares |
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Mr. Balvinder Singh Harbens Singh Kohli |
3000 |
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Mr. Kelvin Singh Kohli |
2000 |
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Mr. Rashmeet Singh Kohli |
2000 |
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Mr. Ranbir Singh Prith Pal Singh Suri |
3000 |
AS ON 02.09.2010
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Names of Share Allottee |
No. of Shares |
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Mr. Balvinder Singh Harbens Singh Kohli |
5600 |
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Mr. Ranbir Singh Prith Pal Singh Suri |
2400 |
AS ON 13.01.2011
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Names of Share Allottee |
No. of Shares |
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Mr. Balvinder Singh Harbens Singh Kohli |
711500 |
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Mr. Ranbir Singh Prith Pal Singh Suri |
233500 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Ready Mix Concrete |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the Management |
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Bankers : |
SREI Equipment Finance Priavte Limited, Vishwakarma, 86C, |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Manoj K Shah and Associates Chartered Accountant |
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Address : |
805, |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 03.04.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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Equity Shares |
Rs. 10 each |
Rs.10.000
millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10 each |
Rs.10.000 millions |
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AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10 each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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47000 |
Equity Shares |
Rs. 10 each |
Rs. 0.470 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.470 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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66.387 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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66.857 |
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LOAN FUNDS |
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1] Secured Loans |
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70.002 |
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2] Unsecured Loans |
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36.643 |
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TOTAL BORROWING |
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106.645 |
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DEFERRED TAX LIABILITIES |
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3.230 |
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TOTAL |
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176.732 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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155.149 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.355 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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22.078 |
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Sundry Debtors |
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153.327 |
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Cash & Bank Balances |
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3.475 |
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Other Current Assets |
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3.526 |
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Loans & Advances |
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12.624 |
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Total
Current Assets |
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195.030 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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91.796 |
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Other Current Liabilities |
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61.164 |
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Provisions |
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21.015 |
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Total
Current Liabilities |
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173.975 |
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Net Current Assets |
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21.055 |
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MISCELLANEOUS EXPENSES |
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0.173 |
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TOTAL |
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176.732 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
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Gross Turnover (Approximately) |
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708.414 |
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.24 |
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Current Ratio (Current Asset/Current Liability) |
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1.12 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
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Particulars |
31.03.2010 |
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Sundry Creditors |
91.796 |
FINANCIAL RESULTS
The company has reported earnings before interest, tax and depreciation
of Rs. 43.716 millions on a gross turnover of Rs. 708.414 millions.
OPERATIONS:
The company looks over the business of Skyway RMC Plants a registered
partnership firm with effect from May 10, 2009. the company currently has 6
operating bacthing plants in Mumbai region. The company is an the process of
setting up 3 additional plants, which will make the company among the highest
capacity RMC producer in the city. The company has increased its list of
customers and name show capacity to deliver concrete of reputed quality as per
requirement of its customers.
FIXED ASSETS:
- Plant and
Machinery
- Pumps and
Vehicles
- Office
Equipment
FORM 8
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Corporate
identity number of the company |
U74990MH2009PTC191493 |
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Name of the
company |
SKYWAY RMC PLANTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
217, Kartik Complex, New |
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This form is for |
Creation of
charge |
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Type of charge |
Movable property
(not being pledge) |
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Particular of
charge holder |
SREI Equipment Finance Priavte Limited, Vishwakarma, 86C, Email: secretarial@srei.com |
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Nature of
instrument creating charge |
Deed Of
Hypothecation |
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Date of
instrument Creating the charge |
31.01.2011 |
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Amount secured by
the charge |
Rs. 6.700
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 9.62% per annum. Terms of repayment Amount repayable
in 34 no. installments of Rs.0.227 million each per month. Margin Rs.0.745 million Extent and operation of the charge Deed of
Hypothecation. |
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Short particulars
of the property charged (Including location of the property) |
1 No. Schwing
Stetter Batching Plant.(WITHIN |
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.45.09 |
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|
1 |
Rs.72.82 |
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Euro |
1 |
Rs.63.43 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
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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 |
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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 |
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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.