%20PRIVATE%20LIMITED-161006%2028-Nov-2011_files/image002.jpg){kind=small}
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SAMIK EXPORTS
(INDIA) PRIVATE LIMITED |
Principal Name 1 |
Mr. Karan Mailk |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Surinder Kumar Malik |
|
|
|
Registration # |
55-119654 |
|
Street Address |
69, GF World Trade Centre, Barakhamba Avenue, Connaught Place, New
Delhi-110001, India |
||
|
Established Date |
01.04.2003 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Manufacturer |
|
Fax # |
-- |
Business Style 2 |
Exporter |
|
Homepage |
-- |
Product Name 1 |
Leather handbags |
|
# of employees |
-- |
Product Name 2 |
wallets |
|
Paid up capital |
Rs.13,992,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of
directors (100%) |
Banking |
Small Industries
Development Bank of India |
|
Public Limited Corp. |
NO |
Business Period |
9 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
80,362,000 |
Current Liabilities |
37,069,000 |
|
Inventories |
41,072,000 |
Long-term Liabilities |
79,522,000
|
|
Fixed Assets |
34,743,000 |
Other Liabilities |
357,000 |
|
Deferred Assets |
000 |
Total Liabilities |
116,948,000 |
|
Invest& other Assets |
0000 |
Retained Earnings |
25,237,000 |
|
|
|
Net Worth |
39,229,000 |
|
Total Assets |
156,177,000 |
Total Liab. & Equity |
156,177,000 |
|
Total Assets (Previous Year) |
99,906,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
185,026,000 |
Net Profit |
2,549,000 |
|
Sales(Previous yr) |
144,948,000 |
Net Profit(Prev.yr) |
3,478,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAMIK EXPORTS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
69, GF World Trade Centre, Barakhamba Avenue, Connaught Place, New
Delhi-110001 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.04.2003 |
|
|
|
|
Com. Reg. No.: |
55-119654 |
|
|
|
|
Capital Investment/
Paid-up Capital: |
Rs.13.992 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101DL2003PTC119654 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS20972A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS11612 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of leather wallets and handbags. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 commitment. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
69, GF World Trade Centre, Barakhamba Avenue, Connaught Place, New
Delhi-110001, India |
|
Tel No. : |
Not Available |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Plot No. 104-105, Sector-5, IMT Manesar, Gurgaon-122050, Haryana,
India |
|
Tel No. : |
91-124-3953227 / 2291384 |
|
Fax No. : |
91-124-3953227 / 2291384 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
72/2, Topsia Road (South), Kolkata, West Bengal, India |
DIRECTORS
(AS ON 07.09.2011)
|
Name : |
Mr. Karan Mailk |
|
Designation : |
Director |
|
Address : |
7/15, West Patel Nagar, New Delhi-110008, India |
|
Date of Birth/Age : |
12.10.1970 |
|
Date of Appointment : |
01.04.2003 |
|
DIN No. : |
01404829 |
|
|
|
|
Name : |
Mr. Surinder Kumar Malik |
|
Designation : |
Director |
|
Address : |
7/15, West Patel Nagar, New Delhi-110008, India |
|
Date of Birth/Age : |
02.05.1941 |
|
Date of Appointment : |
01.04.2003 |
|
DIN No. : |
00054451 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Karan Mailk |
|
865000 |
|
Surinder Kumar Malik |
|
474209 |
|
Preeti U Malik |
|
60000 |
|
|
|
|
|
Total |
|
1399209 |
Equity Share Breakup
(AS ON 30.09.2011)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of leather wallets and handbags. |
|
|
|
|
Products : |
·
Leather Handbags ·
Wallets |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Leather Wallets |
Pcs |
225000 |
218400 |
197734 |
|
Leather Bags |
Pcs |
125000 |
187200 |
120735 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Small Industries Development Bank of India, Videocon
Tower, Ground Floor, E-1, Rani Jhansi Road, Jhandewalan Extension, New
Delhi-110055, India ·
ING Vyasya Bank ·
HDFC Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
in millions)
(Rs.
in millions)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ravinder Naveen and Associates Chartered Accountant |
|
Address : |
B-24, Sagar Apartments, 6 Tilak Marg, New Delhi-110001, India |
|
Income-tax PAN of auditor or auditor’s firm : |
AAEFR8525P |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Share |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1399209 |
Equity Share |
Rs.10/- each |
Rs.13.992
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
13.992 |
10.642 |
10.642 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
25.237 |
22.687 |
19.146 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
39.229 |
33.329 |
29.788 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
78.885 |
36.649 |
27.392 |
|
|
2] Unsecured Loans |
0.637 |
1.966 |
2.046 |
|
|
TOTAL BORROWING |
79.522 |
38.615 |
29.438 |
|
|
DEFERRED TAX LIABILITIES |
0.357 |
0.267 |
0.267 |
|
|
|
|
|
|
|
|
TOTAL |
119.108 |
72.211 |
59.493 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
34.743 |
30.691 |
29.695 |
|
|
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 |
41.072
|
23.715 |
15.327 |
|
|
Sundry Debtors |
64.487
|
32.208 |
26.727 |
|
|
Cash & Bank Balances |
1.712
|
1.304 |
0.397 |
|
|
Other Current Assets |
11.528
|
10.658 |
15.530 |
|
|
Loans & Advances |
2.635
|
1.330 |
0.000 |
|
Total
Current Assets |
121.434
|
69.215 |
57.981 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
32.270
|
23.074 |
25.403 |
|
|
Other Current Liabilities |
4.799
|
4.621 |
2.780 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
37.069
|
27.695 |
28.183 |
|
|
Net Current Assets |
84.365
|
41.520 |
27.798 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
119.108 |
72.211 |
59.493 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
185.026 |
144.948 |
105.278 |
|
|
|
Other Income |
19.790 |
19.180 |
10.285 |
|
|
|
TOTAL |
204.816 |
164.128 |
115.563 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
80.876 |
58.423 |
|
|
|
(Increase) / Decrease in financial Goods |
|
(3.287) |
(0.995) |
|
|
|
Manufacturing Expenses |
197.028 |
43.403 |
30.279 |
|
|
|
Personnel Expenses |
|
9.059 |
4.974 |
|
|
|
Administrative and other expenses |
|
16.167 |
10.339 |
|
|
|
Selling Expenses |
|
9.432 |
5.726 |
|
|
|
TOTAL |
197.028 |
155.650 |
108.746 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.788 |
8.478 |
6.817 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.556 |
3.388 |
3.255 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.232 |
5.090 |
3.562 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.683 |
1.612 |
1.274 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.549 |
3.478 |
2.288 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.000 |
3.478 |
2.288 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value |
184.304 |
143.954 |
0.000 |
|
|
TOTAL EARNINGS |
184.304 |
143.954 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value |
11.051 |
78.889 |
0.000 |
|
|
TOTAL IMPORTS |
11.051 |
78.889 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1.82 |
3.27 |
NA |
|
%20PRIVATE%20LIMITED-161006%2028-Nov-2011_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.24
|
2.12 |
1.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.29
|
3.51 |
3.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.71
|
5.09 |
4.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.15 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.97
|
1.99 |
1.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.28
|
2.50 |
2.06 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The performance of
the company during the financial year ending 31st March 2011 has
been satisfactory. During this financial year the company has achieved a sales
turnover amounted to Rs. 185.026 millions. The company hopes to do better in
the current year of its working.
FORM 8:
|
Corporate identity number of the company |
U18101DL2003PTC119654 |
|
Name of the company |
SAMIK EXPORTS (INDIA) PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
69, GF World Trade Centre, Barakhamba Avenue, Connaught Place, New
Delhi-110001, India E-Mail Id: ravinder_jhatta@hotmail.com |
|
This form is for |
Modification of charge |
|
Charge identification number of the charge
to be modified |
10267921 |
|
Type of charge |
Immovable Property Book Debts Movable Property (not being pledge) |
|
Particular of charge holder |
Small Industries Development Bank of India, Videocon Tower, Ground
Floor, E-1, Rani Jhansi Road, Jhandewalan Extension, New Delhi-110055, India E-Mail Id: rashmi@sidbi.in |
|
Nature of instrument creating charge |
Memorandum of Entry dated 27.04.2011. |
|
Date of instrument Creating the charge |
27.04.2011 |
|
Amount secured by the charge |
Rs.7.500 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
a)
Rate
of Interest Interest will be payable @15% p.a. (fixed)
with monthly rests on the principal amount of sub debt outstanding from time
to time. b)
Terms
of Repayment The sub debt of Rs.7.500 millions shall
be repaid in 30 monthly installments of Rs.0.250 millions each commencing
after 36 months from the date of first disbursement. c)
Margin NA d)
Extent
and operation of the charge Subservient Second charge on movable
and immovable assets of the borrower located at Plot No.104-105, IMT Manesar,
Gurgaon which includes plant, machinery current assets on which ING Vysya
Bank is having first charge. |
|
Short Particulars of the property charged |
i)
Subservient
Second charge on movable and immovable assets of the borrower located at Plot
No.104-105, IMT Manesar, Gurgaon including plant, machinery and current
assets.... ii)
........on
which ING Vysya Bank is having first charge. |
|
Particulars of the present modification |
The Sub debt of Rs.7.500 millions granted
to the company is further secured by Subservient Second Charge on the movable
and immovable assets of the company located at Industrial Plot No.104-105,
IMT Manesar, Gurgaon including buildings and structures constructed thereon
on which ING Vysya Bank is having first charge. Other terms and conditions
remain the same. |
FIXED ASSETS:
·
Land
·
Factory Buildings
·
EDP Equipments
·
Furniture and Fixtures
·
Plant and Machinery
·
Vehicle
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.52.16 |
|
|
1 |
Rs.80.64 |
|
Euro |
1 |
Rs.69.42 |
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 |
NO |
|
--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.