MIRA
INFORM REPORT
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Report Date : |
08.11.2011 |
IDENTIFICATION DETAILS
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Name : |
SHRI LAXMI UDYOG PRIVATE LIMITED |
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Registered
Office : |
Plot No. 246, Milestone, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
08.07.1997 |
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Com. Reg. No.: |
05-033647 |
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Capital
Investment / Paid-up Capital : |
Rs.8.249 Millions |
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CIN No.: [Company Identification
No.] |
U29130HR1997PTC033647 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RTKS05357C |
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PAN No.: [Permanent Account No.] |
AACCS2867C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Automobile Sheet Metal Components |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 55000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track records. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small to mediocre 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : |
Plot No. 246, Millestone, |
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Tel. No.: |
91-124-2371050 / 2372988 / 4154400 |
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Fax No.: |
91-124-4038372 / 4154445 |
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E-Mail : |
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Website : |
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Factory : |
Gurgaon, Pant Nagar, Haridwar |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mrs. Laxmi Sharma |
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Designation : |
Director |
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Address : |
876, Sector – 15, Part II, Gurgaon – 122001, |
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Date of Birth/Age : |
19.07.1961 |
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Date of Appointment : |
08.07.1997 |
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DIN : |
00932901 |
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Other Directorship : |
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Name : |
Mr. Gaurav Sharma |
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Designation : |
Director |
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Address : |
876, Sector – 15, Part II, Gurgaon – 122001, |
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Date of Birth/Age : |
12.08.1983 |
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Date of Appointment : |
01.04.2006 |
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DIN : |
00933524 |
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Other Directorship : |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Laxmi Sharma |
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79202 |
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Gaurav Sharma |
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17100 |
AS ON 30.09.2011
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Equity Share
Break Up Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Automobile Sheet Metal Components |
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Products : |
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PRODUCTION STATUS As on 31.03.2010
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Particulars |
Actual
Production |
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Electric Ignition |
707,555 |
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Auto Parts |
8,213,948 |
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M.V. Parts |
1,215 |
GENERAL INFORMATION
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Customers: |
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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 : |
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Name : |
A.B. Sanwalka and Compamy Chartered Accountants |
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Address : |
3J, |
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Mobile No.: |
91-9911405413 |
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Email : |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1,000,000 |
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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824,929 |
Equity Shares |
Rs.10/- each |
Rs.8.249
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.249 |
8.249 |
7.249 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.740 |
3.376 |
1.812 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.989 |
11.625 |
9.061 |
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LOAN FUNDS |
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1] Secured Loans |
43.369 |
22.196 |
22.373 |
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2] Unsecured Loans |
32.228 |
33.930 |
10.920 |
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TOTAL BORROWING |
75.597 |
56.126 |
33.293 |
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DEFERRED TAX LIABILITIES |
3.198 |
2.375 |
1.725 |
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TOTAL |
92.784 |
70.126 |
44.079 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
40.213 |
31.005 |
21.308 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.800 |
0.800 |
0.800 |
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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 |
39.229
|
22.148 |
18.444 |
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Sundry Debtors |
79.133
|
61.367 |
38.428 |
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Cash & Bank Balances |
4.330
|
2.440 |
1.024 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
7.052
|
2.463 |
2.604 |
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Total
Current Assets |
129.744
|
88.418
|
60.500 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
70.240
|
44.463 |
34.073 |
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Other Current Liabilities |
7.864
|
5.651 |
4.474 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
78.104
|
50.114
|
38.547 |
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Net Current Assets |
51.640
|
38.304
|
21.953 |
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MISCELLANEOUS EXPENSES |
0.131 |
0.017 |
0.018 |
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TOTAL |
92.784 |
70.126 |
44.079 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
277.418 |
167.842 |
127.387 |
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Profit on sale of vehicles |
0.209 |
0.000 |
0.000 |
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Job Work Income |
1.961 |
0.708 |
0.639 |
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Miscellaneous Income |
0.033 |
0.948 |
0.624 |
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TOTAL (A) |
279.621 |
169.498 |
128.650 |
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Less |
EXPENSES |
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Manufacturing Expenses |
261.636 |
154.689 |
114.817 |
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Payment and Benefit to Employee |
9.422 |
3.384 |
3.546 |
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Operating Expenses |
7.297 |
2.730 |
3.502 |
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Increased/(Decreased) In Stock |
[10.732] |
(0.127) |
0.157 |
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TOTAL (B) |
267.623 |
160.676 |
122.022 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.998 |
8.822 |
6.628 |
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Less |
FINANCIAL
EXPENSES (D) |
4.985 |
4.127 |
2.794 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.013 |
4.695 |
3.834 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.020 |
1.836 |
1.610 |
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PROFIT BEFORE
TAX (E-F) (G) |
3.993 |
2.859 |
2.224 |
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Less |
TAX (H) |
1.629 |
1.295 |
0.878 |
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PROFIT AFTER TAX
(G-H) (I) |
2.364 |
1.564 |
1.346 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.376 |
1.812 |
0.466 |
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BALANCE CARRIED
TO THE B/S |
5.740 |
3.376 |
1.812 |
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Earnings/[Loss]
Per Share (Rs.) |
2.86 |
- |
- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.84
|
0.92
|
1.05 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.44
|
1.70
|
1.74 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.35
|
2.39
|
2.72 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.24
|
0.25 |
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Debt Equity Ratio (Total Liability/Networth) |
|
10.99
|
9.14
|
7.93 |
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Current Ratio (Current Asset/Current Liability) |
|
1.66
|
1.76
|
1.57 |
LOCAL AGENCY FURTHER INFORMATION
Form 8:
|
Corporate
identity number of the company |
U29130HR1997PTC033647 |
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Name of the company
|
SHRI LAXMI UDYOG
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
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|
This form is for |
Creation of
charge |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Allahabad Bank, 2, |
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Date of
instrument Creating the charge |
21.07.2010 |
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Amount secured by
the charge |
Rs.48.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 11% Terms of
Repayment On Demand Margin Company shall at
all times during the continuation of security maintain the said debts of a
sufficient amount to provide the margin of security over and above the
balance for the time being at the debt of the said cash credit and/or over
draft account Extent and
Operation of the charge Hypothecation by
way of First Charge on Company's on All present and future products, goods
and Movable property, stocks, raw material and other stocks and stores AND also
all present and future Book Debts, Investments, Cash in Hand and at Bank for
the repayment of 4.80lakhs whether with Interest, Cost, Charges, and other
money due and payable by the Company to the Bank. |
|
Short particulars
of the property charged |
All the Stocks in
trade present and future consisting of raw material, finished goods, work in
progress. All present and future Book Debts outstanding monies, receivable
Claims, bills, contracts, engagements, Securities, Investments, Cash in hand
and at banks |
Fixed Assets:
- Land
- Building
- Plant and
Machinery
- Office
Equipments
- Furniture and
Fixtures
- Vehicles
Web Details
Company Profile
Subject deals in the field of Automobile Goods such as Holder Motors, Dampers Engine Mounting Brackets, Gear Blanks, Frame Parts, Frame Welding Assemblies, Fuel tank Parts and Swing Arm Parts. Shri Laxmi Udyog believes in steady growth guided by its objective to overtake global market. We are offering an exceptional range of automobile sheet metal components that excel both in quality as well as performance.
Since its inception, they at Shri Laxmi Udyog are one among
the most recognized and sought after manufacturers of automobile sheet metal
components in
Their
Infrastructure
At Shri Laxmi Udyog, they have installed a multi-manufacturing unit at Gurgaon,
Pant Nagar, Haridwar with backward integration of the plant to have experienced
workforce. Their manufacturing units are well-equipped with state-of-the-art
machines. Their manufacturing unit is equipped with the advanced machinery,
which are capable of meeting bulk requirements of clients within stipulated
time frame. They have a team of qualified and experienced engineers, who are
committed to develop high quality sheet metal components exactly as per
client's expectation. They also have a separate in-house quality
testing laboratory with the latest testing facilities to ensure zero
defect products. Their established setups are well-equipped with sophisticated
ultra modern machinery and facilities such as
- Press Shop
Facility
- Weld Shop
Facility
- Machine Shop
Facility
- Tool Room
Facility
- Emergency
Utility Machines
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] 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.49.08 |
|
|
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
32 |
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.