MIRA
INFORM REPORT
|
Report Date : |
18.10.2011 |
IDENTIFICATION DETAILS
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Name : |
SANGHVI QUALITY PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
7/8, Pandav Sankul College, Mumbai Agra Highway Road,
Pimpalgaon Baswant,
Nashik – 422209, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.03.2001 |
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Com. Reg. No.: |
11-131439 |
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Capital
Investment / Paid-up Capital : |
Rs.0.960 Million |
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CIN No.: [Company Identification
No.] |
U24117MH2001PTC131439 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Organic Fertilizers, Post Harvesting
Product and Crop Health Enhancer. |
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No. of Employees
: |
Not Available |
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 72000 |
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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 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 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 PARTED BY
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Name : |
Mr. Naynesh Sanghvi |
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Designation : |
Director |
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Contact No.: |
91-9975560006 |
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Date : |
07.10.2011 |
LOCATIONS
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Registered Office : |
7/8, Pandav Sankul College, Mumbai Agra Highway Road,
Pimpalgaon, Baswant,
Nashik – 422209, Maharashtra, India |
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Tel. No.: |
91-2550-250027/ 250110 |
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Mobile No.: |
91-9975560006 (Mr. Naynesh Sanghavi) |
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Fax No.: |
91-2550-250678 |
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E-Mail : |
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Factory : |
85, Industrial Estate No.2, Barshi, Solapur – 413401, Maharashtra,
India |
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Tel. No.: |
91-2184-223324/ 229273 |
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Fax No.: |
91-2184-227681 |
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E-Mail : |
DIRECTORS
(AS ON 30.09.2010)
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Name : |
Mr. Vinay Manoharlal Sanghvi |
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Designation : |
Director |
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Address : |
F-14 541/1B, Pandav Sankul, Tal Niphad, Pimpalgaon, Nashik – 422209,
Maharashtra, India |
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Date of Birth/Age : |
03.06.1970 |
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Date of Appointment : |
30.03.2001 |
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DIN No.: |
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Name : |
Mr. Naynesh Manoharlal Sanghvi |
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Designation : |
Director |
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Address : |
Shop No.9, Pandav Sankul, By – Agra Road, Tal Niphad, Pimpalgaon (B),
Nashik – 422209, Maharashtra, India |
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Date of Birth/Age : |
19.07.1964 |
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Date of Appointment : |
30.03.2001 |
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DIN No.: |
02080016 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
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Names of Shareholders |
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No. of Shares |
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Vinay Manoharlal Sanghvi |
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37500 |
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Naynesh Manoharlal Sanghvi |
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37500 |
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Manoharlal Chotalal Sanghvi |
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1000 |
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Divya Naynesh Sanghavi |
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10000 |
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Parul Vinay Sanghavi |
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10000 |
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Total |
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96000 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Organic Fertilizers, Post Harvesting
Product and Crop Health Enhancer. |
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Products : |
Organic Fertilizers · STIM / Bio Stimulation Fertilizer · UBI Min / Phosphate Fertilizer · Recharger / Disease Resistance Fertilizer · Super Power / Cell Division Fertilizer · Supermix / Cell Wall Development Fertilizer · UBI Capsule Humic Acid 15percent/ Humic Acid Fertilizer Natural Preservatives · UBI Braz / Natural Preservative Crop Health Enhancer · UBI Gold / Bio-Stimulant · Shenda Plus / Chlorophyll Enhancer · Dipping Master / Fruit Size Enhancer · Jadugar / Crop Health Enhancer. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
· Solapur Janata Sahakari Bank Limited Shah Chambers, Railway Lines, Telgirni Chowk, Barshi –
413401, Maharashtra, India · HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institute : |
· DBS Finance Limited |
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Auditors : |
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Name : |
R. S. Baste and Company Chartered Accountants |
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Address : |
4, 1st Floor, Gajanan Heights, Old Pandit Colony, Nashik – 422002,
Maharashtra, India |
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Tel No.: |
91-253-2581309/ 2578639 |
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PAN No.: |
AEJPB4764K |
CAPITAL STRUCTURE
(AS ON 30.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Share |
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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96000 |
Equity Share |
Rs.10/- each |
Rs.0.960
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.960 |
0.960 |
0.960 |
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2] Share Application Money |
2.522 |
2.522 |
0.351 |
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3] Reserves & Surplus |
14.540 |
10.860 |
7.714 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
18.022 |
14.342 |
9.025 |
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LOAN FUNDS |
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1] Secured Loans |
21.140 |
11.973 |
6.934 |
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2] Unsecured Loans |
0.914 |
0.094 |
0.115 |
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TOTAL BORROWING |
22.054 |
12.067 |
7.049 |
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DEFERRED TAX LIABILITIES |
0.608 |
0.550 |
0.388 |
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TOTAL |
40.684 |
26.959 |
16.462 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
16.271 |
16.590 |
14.794 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.034 |
0.888 |
0.653 |
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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 |
26.012
|
25.957 |
19.476 |
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Sundry Debtors |
9.716
|
14.477 |
11.223 |
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Cash & Bank Balances |
3.353
|
3.497 |
2.705 |
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Other Current Assets |
0.285
|
0.000 |
0.000 |
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Loans & Advances |
1.097
|
1.222 |
0.876 |
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Total
Current Assets |
40.463
|
45.153 |
34.280 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
12.057
|
27.938 |
28.870 |
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Other Current Liabilities and Provisions |
5.027
|
7.734 |
4.395 |
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Total
Current Liabilities |
17.084
|
35.672 |
33.265 |
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Net Current Assets |
23.379
|
9.481 |
1.015 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
40.684 |
26.959 |
16.462 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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TURNOVER |
93.102 |
89.412 |
73.839 |
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TOTAL EXPENSES |
86.324 |
87.811 |
NA |
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PROFIT BEFORE
TAX |
5.345 |
7.025 |
NA |
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Less |
TAX |
1.665 |
1.789 |
NA |
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PROFIT AFTER TAX
|
3.680 |
5.236 |
NA |
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Earnings Per
Share (Rs.) |
38.33 |
33.49 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
5.74
|
7.86 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.42
|
11.38 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.49 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.17
|
3.33 |
4.47 |
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Current Ratio (Current Asset/Current Liability) |
|
2.37
|
1.27 |
1.03 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION AND FINANCES OF COMPANY
The company is involved in sales of chemicals
and fertilizers goods and achieved turnover of Rs.93.102 Millions during the
year. The net profit before depreciation is Rs.7.286 Millions on the same.
FORM 8:
|
Corporate
identity number of the company |
U24117MH2001PTC131439 |
|
Name of the
company |
SANGHVI QUALITY
PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
7/8 Pandav Sankul
College Highway Road, Pimpalgaon
Naswant - 422209 Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property (not being pledge) |
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Particular of
charge holder |
Solapur Janata Sahakari
Bank Limited Shah Chambers,
Tel Girani Chowk, Barshi – 413401, Maharashtra, India |
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Nature of
instrument creating charge |
Machinery as per valuation
report and as mentioned in second schedule to the term loan agreement. |
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Date of
instrument Creating the charge |
14.09.2010 |
|
Amount secured by
the charge |
Rs.3.000 Millions
|
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of
Interests: 15% P.A. Terms of
Repayment: Repayable In 84
Monthly Installments Margin: 25% Extent and
Operation of the charge: Machinery as per
valuation report and as mentioned in second schedule to the term loan
agreement. |
|
Particulars of
the property charged |
Machinery as per
valuation report and as mentioned in second schedule to the term loan
agreement. |
FIXED ASSETS:
· Plot
· Factory Building
· Machinery
· Furniture
· Vehicles
· Motor Cycle
· Computer and Fax
· Lab Instruments
· Mobile
· Factory Equipments
· Office Equipments
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.49.07 |
|
|
1 |
Rs.77.42 |
|
Euro |
1 |
Rs.67.72 |
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 |
NO |
|
--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.