MIRA
INFORM REPORT
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Report Date : |
22.10.2011 |
IDENTIFICATION DETAILS
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Name : |
SHESHA SCIENTICHEM PRIVATE LIMITED |
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Registered Office : |
W-89-A, Chikkloli, MIDC, Ambarnath, Thane - 421505, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
29.12.1988 |
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Com. Reg. No.: |
11-50203 |
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Capital
Investment / Paid-up Capital : |
Rs.0.412 Million |
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CIN No.: [Company
Identification No.] |
U24100MH1988PTC050203 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNES17041D |
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PAN No.: [Permanent
Account No.] |
AAECS2379F |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer and exporter of plants, filters, vessels. |
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No. of Employees
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60 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 4000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Its scale of
activities are limited. There appears to be some dip in the turnover of the company.
However trade relations are reported as fair. Business is active. Payments
are reported to be slow. The company can be considered for business dealings with some caution.
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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 |
INFORMATION PARTED BY [General Details]
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Name : |
Mr. Shashikant Ganpatrao Phal |
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Designation : |
Director |
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Contact No.: |
91-9860734731 |
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Date : |
13.10.2011 |
LOCATIONS
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Registered Office / Factory: |
W-89-A, Chikkloli, MIDC, Ambarnath, Thane - 421505, |
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Tel. No.: |
91-251-2683201 |
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Mobile No.: |
91-9860734731 (Mr. Shashikant Ganpatrao Phal) |
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Fax No.: |
91-251-2683201 |
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E-Mail : |
shashikantphal@gmail.com sheth_priti@rediffmail.com |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Shashikant Ganpatrao Phal |
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Designation : |
Director |
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Address : |
Plot No. 405, Dutta Niwas, Sai Section, Ambernath - 421505, Thane, |
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Date of Birth/Age : |
02.06.1945 |
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Qualification : |
Graduate |
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Date of Appointment : |
29.12.1988 |
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DIN : |
00329627 |
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Name : |
Mrs. Ranjana Shashikant Phal |
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Designation : |
Director |
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Address : |
Plot No. 405, Dutta Niwas, Sai Section, Ambernath - 421505, Thane, |
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Date of Birth/Age : |
03.10.1953 |
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Qualification : |
Graduate |
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Date of Appointment : |
29.12.1988 |
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DIN : |
00329664 |
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Name : |
Mr. Sham Phal |
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Designation : |
Director |
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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Shashikant Ganpatrao Phal |
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35650 |
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Ranjana Shashikant Phal |
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5595 |
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Total |
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41245 |
AS ON 30.09.2010
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Equity Share Breakup Category |
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Percentage of Holding |
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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 exporter of plants, filters, vessels. |
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Products : |
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Exports : |
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Products : |
Plants, filters, vessels |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit (30 days / 60 days) |
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Purchasing : |
L/C / Cash / Credit (30 days) |
GENERAL INFORMATION
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Customers : |
·
D.M.C.
Company Limited (Project Work) ·
Al
Ghundoura Company Limited (Export Project)
·
AWHO
(Mineral Water Project) ·
Bharat
Distillaries Limited (Project Alchol) ·
Thomas
Beaker Chem Limited (Pharma Project) ·
Metropolitan
Exichem Limited (Pharma Project) ·
Rhodia
Chemicals Limited ·
Monomer
Chemicals Private Limited (Project Chem) ·
Gadekar
Bestall ·
Maharaja
Umid Mills Limited (Project) ·
Multi
Bios Private Limited (Export Project) ·
Leonid
Chemicals Private Limited ·
United Catalyst (I) Limited (Project Work) ·
Borax Morarji Limited (Borax Project) |
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No. of Employees : |
60 [Approximately] |
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Bankers : |
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Memberships : |
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Auditors : |
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Name : |
Mr. Vipul R. Shah Chartered Accountant |
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Address : |
219, Sai Vihar, Shivaji Path, Above Gurudev Hotel, Kalyan - 421301, |
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Tel.
: (251) 325 8824 (251) 260 0924 Fax : (251) 260-0924. Mob. : 9321133334 |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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70,000 |
Equity Shares |
Rs.10/- each |
Rs.0.700 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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41,245 |
Equity Shares |
Rs.10/- each |
Rs.0.412
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 |
0.412 |
0.412 |
0.412 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.702 |
0.676 |
0.623 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.114 |
1.088 |
1.035 |
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LOAN FUNDS |
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1] Secured Loans |
0.486 |
0.796 |
0.623 |
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2] Unsecured Loans |
0.986 |
1.117 |
1.128 |
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TOTAL BORROWING |
1.472 |
1.913 |
1.751 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.586 |
3.001 |
2.786 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.478 |
0.485 |
0.353 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.300 |
0.000 |
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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 |
1.005
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0.935
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1.360 |
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Sundry Debtors |
2.365
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2.863
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2.574 |
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Cash & Bank Balances |
0.067
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0.058
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0.081 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.075
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0.170
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0.318 |
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Total
Current Assets |
3.512
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4.026
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4.333 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors for goods and services |
0.471
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0.862
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1.051 |
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Provisions |
0.933
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0.948
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0.849 |
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Total
Current Liabilities |
1.404
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1.810
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1.900 |
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Net Current Assets |
2.108
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2.216
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2.433 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.586 |
3.001 |
2.786 |
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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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INCOME – Business Income |
1.842 |
5.219 |
1.088 |
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PROFIT / [LOSS]
FOR THE YEAR |
0.026 |
0.053 |
0.035 |
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.58
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3.42
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3.53 |
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Current Ratio (Current Asset/Current Liability) |
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2.50
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2.22
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2.28 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report [Yes/No] |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Construction of the firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoters background |
- |
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No. of Employees |
Yes |
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Name of Person Contacted |
Yes |
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Designation of contact
person |
Yes |
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Turnover of firm for last
three years |
No |
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Profitability for last
three years |
No |
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Reasons for variation
<> 20% |
- |
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Estimation for coming
financial year |
No |
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Capital the business |
No |
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Details of sister
concerns |
No |
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Major Suppliers |
No |
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Major Customers |
Yes |
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Payment Terms |
Yes |
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Export / Import Details
[If Applicable] |
Yes |
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Market Information |
- |
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Litigations that the firm
/ promoter involved in |
- |
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Banking Details |
Yes |
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Banking Facility Details |
No |
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Conduct of the banking
account |
- |
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Buyer visit details |
- |
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Financials, if provided |
No |
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Incorporation details, if
applicable |
- |
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Last accounts filed at
ROC |
- |
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Major Shareholders, if
applicable |
- |
Trade References:
·
D.M.C.
Company Limited (Project Work)
Operational
Performance :
The company has achieved a business of Rs.1.842 millions and has
encouraging results but has gained a profit of Rs.0.026 million. The company
hopes to improve the business in this year. The future prospects of the company
are bright.
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 |
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US Dollar |
1 |
Rs.50.06 |
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|
1 |
Rs.79.15 |
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Euro |
1 |
Rs.69.03 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
2 |
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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 |