MIRA
INFORM REPORT
|
Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
LSR LUBRICANTS PRIVATE LIMITED (w.e.f. 25.03.2011) |
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Formerly Known
as: |
L S R CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
A-7/8, Amul Commercial Premises, 1st Road, Chembur, Mumbai
– 400071, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.10.1980 |
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Com. Reg. No.: |
023229 |
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Capital
Investment / Paid-up Capital : |
Rs.0.102 Million |
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|
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CIN No.: [Company Identification
No.] |
U24233MH1980PTC023229 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Lubricant Oil |
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|
No. of Employees
: |
50 (In office) |
RATING & COMMENTS
|
MIRA’s Rating : |
C (05) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. There appears to be some
accumulated losses recorded by the company. As per available financials,
there is no business activity in the year 2009-10. The management remains non
co-operative regarding financials of the company. Payments are unknown. Keeping in view the aforesaid it would be advisable to enter into
business dealings on a safe and secured 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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Fernandes |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-66868507 |
|
Date : |
14.10.2011 |
LOCATIONS
|
Registered Office : |
A-7/8, Amul Commercial Premises, 1st Road, Chembur, Mumbai
– 400071, Maharashtra, India |
|
Tel. No.: |
91-22-66868507 / 25286896 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
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|
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Factory 1 : |
404, Sai Sumarth Deonar Village Road, Mumbai, Maharashtra, India |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Nandimandalam Chengal Raju
|
|
Designation : |
Director |
|
Address : |
B-10, Daitaguru Co-op Hsg. Society, Deonar Village Road, Deonar,
Mumbai – 400088, Maharashtra, India |
|
Date of Birth/Age : |
18.04.1937 |
|
Date of Appointment : |
03.10.1980 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U24233MH1980PTC023229 |
LSR Lubricants Private
Limited |
Director |
01/04/2011 |
03/10/1980 |
- |
Active |
NO |
|
2 |
U15140MH1992PTC066603 |
L S R SPECIALITY OILS
PRIVATE LIMITED |
Director |
01/04/1996 |
01/04/1996 |
- |
Active |
NO |
|
Name : |
Mrs. Nandimandalam Kumar Raju |
|
Designation : |
Director |
|
Date of Appointment : |
25.11.2010 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U15140MH1992PTC066603 |
L S R SPECIALITY OILS
PRIVATE LIMITED |
Managing director |
30/04/1992 |
30/04/1992 |
- |
Active |
NO |
|
2 |
U24233MH1980PTC023229 |
LSR Lubricants Private
Limited |
Managing director |
01/04/2011 |
20/04/2010 |
- |
Active |
NO |
|
Name : |
Mrs. S N C Syamain Devi |
|
Designation : |
Director |
|
Address : |
B-10, Daitaguru Co-op Hsg. Society, Deonar Village Road, Deonar,
Mumbai – 400088, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1948 |
|
Date of Appointment : |
03.10.1980 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U24233MH1980PTC023229 |
LSR Lubricants Private
Limited |
Director |
03/10/1980 |
03/10/1980 |
20/04/2010 |
Active |
NO |
|
2 |
U15140MH1992PTC066603 |
L S R SPECIALITY OILS
PRIVATE LIMITED |
Director |
30/04/1992 |
30/04/1992 |
- |
Active |
NO |
|
Name : |
Mr. N Sreedhar Raju |
|
Designation : |
Director |
|
Address : |
E-16, Dattaguru Co-operative HSG Society, Deonar Village Road, Mumbai
– 400088, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1969 |
|
Date of Appointment : |
01.04.1991 |
KEY EXECUTIVES
|
Name : |
Mr. Fernandes |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
N C Raju |
|
510 |
|
N C Syamala Devi |
|
510 |
|
Total |
|
1020 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Lubricant Oil |
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Imports : |
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Products : |
Material |
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Countries : |
USA |
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Terms : |
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Selling : |
Cash, Credit (30 days, 60 days,
90 days) |
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Purchasing : |
L/C, Cash, Credit (30 days, 60
days, 90 days) |
GENERAL INFORMATION
|
Customers : |
·
OEM’s ·
Industries |
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|
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|
No. of Employees : |
50 (In office) |
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Bankers : |
Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan, 227,D, Nariman
Point,, Mumbai - 400021, Maharashtra, India |
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Facilities : |
-- |
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Banking Relations
: |
-- |
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Auditors : |
|
|
Name : |
Ratnam P V Chartered Accountant |
|
Address : |
403, Privik Residency Street No. 4, HMT Nagar, Nacharam, Hyderabad –
500076, Andhra Pradesh, India |
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|
|
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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 |
|
1020 |
Equity Shares |
Rs.100/-
each |
Rs.0.102
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.102 |
0.102 |
0.102 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.00 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.075) |
(0.067) |
(0.065) |
|
|
NETWORTH |
0.027 |
0.035 |
0.037 |
|
|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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|
2] Unsecured Loans |
0.000 |
0.000 |
0.038 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.038 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
0.027 |
0.035 |
0.075 |
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APPLICATION OF FUNDS |
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|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.029
|
0.029 |
0.029 |
|
|
Cash & Bank Balances |
0.015 |
0.006 |
0.006 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.017 |
|
|
Loans & Advances |
0.015
|
0.047 |
0.039 |
|
Total
Current Assets |
0.059
|
0.082 |
0.091 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.033
|
|
|
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.016 |
|
|
Provisions |
0.000
|
0.014 |
|
|
Total
Current Liabilities |
0.033
|
0.047 |
0.016 |
|
|
Net Current Assets |
0.026
|
0.035 |
0.075 |
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.027 |
0.035 |
0.075 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
0.008 |
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|
|
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|
PROFIT BEFORE
TAX |
|
|
(0.008) |
|
|
|
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|
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|
Less |
TAX |
|
|
0.000 |
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|
|
|
|
|
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|
|
PROFIT AFTER TAX
|
|
|
(0.008) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.22
|
1.00 |
0.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.79
|
1.75 |
5.68 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
0.033 |
0.033 |
NA |
FORM 8:
|
Corporate identity number of the company |
U24233MH1980PTC023229 |
|
Name of the company |
LSR Lubricants Private Limited |
|
Address of the registered office or of the
principal place of business in |
A-7/8
Amul Commercialpremises 1st
Road, Chembur, Mumbai– 400071, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts |
|
Particular of charge holder |
KOTAK MAHINDRA BANK LIMITED |
|
Nature of instrument creating charge |
Deed of Hypothecation. |
|
Date of instrument Creating the charge |
20/07/2011 |
|
Amount secured by the charge |
Rs.60.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest The terms of the Bank's SL dated
30/06/2011 Extent and Operation of the charge First and exclusive charge by way of
Hypothecation on all existing and future Current assets of the Borrower, in favour
of Kotak Mahindra Bank, to secure the repayment of financial facilities
granted by the Bank to the Borrower. |
|
Short particulars of the property charged |
The whole of the Borrower's Current
assets, both present and future more particularly described in Second
Schedule to the Deed of Hypothecation. |
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.49.06 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.67.72 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
-- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
- |
|
--LEVERAGE |
1~10 |
- |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
05 |
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.