MIRA
INFORM REPORT
|
Report Date : |
03.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHREE SHYAM GLOBAL |
|
|
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Registered
Office : |
A-748, Shastri Nagar, Delhi – 110052 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
2002 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.2.287 Millions |
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|
|
|
Legal Form : |
Sole Proprietory Concern. |
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|
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Line of Business
: |
Manufacturer and Exporter of Ferrous and Non Ferrous Metal Components. |
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|
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established proprietory concern having moderate track
records. The networth statement provided seems to be unsatisfactory. However,
trade relations are reported as fair. Business is active. Payment terms are
unknown. It would be take advisable securities while dealing with the subject. |
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
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
|
Name : |
Mr. Ajay Gupta |
|
Designation : |
Proprietor |
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Contact No.: |
91-9899353300 |
|
Date : |
27.08.2011 |
LOCATIONS
|
Registered Office: |
A-748, Shastri Nagar, Delhi – 110052, India |
|
Tel. No.: |
91-11-2364 3300 |
|
Mobile No.: |
91-9899353300 (Mr. Ajay Gupta) |
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Fax No.: |
91-11-66173875 |
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E-Mail : |
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Website : |
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Area : |
100 sq. yard |
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Location : |
Rented |
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|
Factory: |
Pocket-J, Plot No- 164, Sector-5, DSIIDC, Dr. Shyama
Prasad Mukherjee Industrial Park, Bawana, Delhi – 110039, India |
SOLE PROPRIETOR
|
Name : |
Mr. Ajay Gupta |
|
Designation : |
Proprietor |
|
Address : |
A-748, Shastri Nagar, Delhi – 110052, India |
|
Date of Birth/Age : |
33 years |
|
Qualification : |
Graduate |
|
PAN No.: |
AEAPG6756R |
KEY EXECUTIVES
|
Name : |
Mr. Atul Gupta |
|
Designation : |
Manager |
|
Date of Birth/Age : |
35 years |
|
Qualification : |
Graduate |
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PAN No.: |
ACKPG6188M |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Ferrous and Non Ferrous Metal Components. |
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Exports : |
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Products : |
Ferrous and Non Ferrous Metal Components |
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Countries : |
· Germany · Dubai · Singapore · Poland |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers · Anuj Sales · Bentech Bhartia engineers Private Limited · Fiem Industries Limited · Himachal Energy Private Limited · JSK International · Lambda Eastern Telecommunication Limited · Laxmi Trading Corporation · Lumax Automotive Systems Limited · Lumax Industries Limited · Samaira Engineering · Shayama Engineering · Socomac HPL Parts Private Limited · Super Plastronics Private Limited · Wuerth Industrial Services Private Limited · Yogendra Engineering |
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Suppliers : |
· AR Mercantile Company · Arsh Tools Manufacturing Company · D S Enterprises · Jagdamba Traders · Karishma Distributors · Kunal Trading Company · Mechmeasures Corporation · Nayak Security Services (R) · Om Logistics Limited · Puneet Fastners · Savika Electronics · Shree Ganga Enterprises |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
· Dena Bank Bawana Branch, Delhi, India · Punjab National Bank · Delhi Swastik Co-Operative Bank · ABN Amro Bank · ICICI Bank · Standard Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Dinesh Jain and Company Chartered Accountant |
|
Address : |
Danand Road, Delhi, India |
CAPITAL STRUCTURE
CAPITAL
ACCOUNT OF MR. AJAY GUPTA AS ON 31.03.2011
|
Particulars |
(Rs. In Millions) |
|
|
|
|
|
|
Opening Balance
As on 01.04.2010 |
|
1.980 |
|
|
|
|
|
Add: Profit
During the year |
|
0.404 |
|
Add: LIC –
Maturity |
|
0.094 |
|
|
|
|
|
|
|
2.478 |
|
|
|
|
|
Less: Drawings |
0.136 |
|
|
LIC |
0.055 |
|
|
|
|
0.191 |
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|
|
|
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Closing Balance
as on 31.03.2011 |
|
2.287 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.287 |
1.980 |
0.925 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.287 |
1.980 |
0.925 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.330 |
0.775 |
1.740 |
|
|
2] Unsecured Loans |
0.931 |
2.123 |
3.029 |
|
|
TOTAL BORROWING |
1.261 |
2.898 |
4.769 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.548 |
4.878 |
5.694 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.006 |
2.966 |
1.713 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.120 |
0.113 |
0.006 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.113
|
0.799 |
2.452 |
|
|
Sundry Debtors |
2.504
|
3.203 |
3.690 |
|
|
Cash & Bank Balances |
0.163
|
0.064 |
0.088 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.507
|
0.311 |
0.538 |
|
Total
Current Assets |
3.287
|
4.377 |
6.768 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
2.799
|
2.522 |
2.742 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.066
|
0.056 |
0.051 |
|
Total
Current Liabilities |
2.865
|
2.578 |
2.793 |
|
|
Net Current Assets |
0.422
|
1.799 |
3.975 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.548 |
4.878 |
5.694 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Sales) |
13.299 |
12.704 |
11.489 |
|
|
|
Other Income |
0.004 |
0.000 |
0.000 |
|
|
|
TOTAL |
13.303 |
12.704 |
11.489 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
10.841 |
10.193 |
8.811 |
|
|
|
Direct Expenses |
0.433 |
0.484 |
0.516 |
|
|
|
Administrative Expenses |
1.154 |
0.896 |
1.888 |
|
|
|
TOTAL |
12.428 |
11.573 |
11.215 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
0.875 |
1.131 |
0.274 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.207 |
0.469 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.668 |
0.662 |
0.274 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.264 |
0.361 |
0.000 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.404 |
0.301 |
0.274 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.04
|
2.37 |
2.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.04
|
2.37 |
2.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.42
|
4.10 |
3.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.15 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.80
|
2.77 |
8.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.70 |
2.42 |
LOCAL AGENCY FURTHER INFORMATION
OBSERVATION
POINT
|
Name of company : |
Shree Shyam Global |
|
|
|
|
Address |
J – 64, Sector -5, Bawana Industrial Area,
DSIIDC, Bawana, New Delhi, India |
|
|
|
|
Name Board : |
Sighted |
|
Visibility of Name Board : |
Low |
|
Location : |
Easy |
|
Landmark : |
Near Vardhama Mall |
|
Locality: |
Factory |
|
Approx. Market Value of Premises : |
Area 1076 (sq. ft.) |
|
Area : |
Up-market |
|
Visibility of Items |
· Telephone · Computers · Xerox Machine · Office Equipments |
|
|
|
|
No. of Employees seen at Business Premises |
20 (Approximately) |
|
|
|
|
Furniture Items Sighted |
Yes |
|
|
|
|
Office Appearance |
Yes |
------------------------------------------------------------------------------------------------------------------------------
OPERATING
STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2012 |
31.03.2013 |
|
|
(Projected) |
|
|
Gross Sales |
|
|
|
Domestic |
16.000 |
19.200 |
|
Export |
0.000 |
0.000 |
|
|
|
|
|
Add: Other Revenue Income |
0.003 |
0.004 |
|
|
|
|
|
Total |
16.003 |
19.204 |
|
|
|
|
|
Less : Excise Duty |
-- |
-- |
|
|
|
|
|
Net Sales |
16.003 |
19.204 |
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to
previous year |
20.31% |
44.00% |
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
|
-
Imported |
0.000 |
0.000 |
|
-
Indigenous |
12.800 |
15.360 |
|
|
|
|
|
Others Stores and Spares |
|
|
|
-
Imported |
0.000 |
0.000 |
|
-
Indigenous |
0.154 |
0.184 |
|
|
|
|
|
Power and Fuel |
0.128 |
0.154 |
|
Direct Wages (Factory Wages and Salaries) |
0.360 |
0.432 |
|
Other Manufacturing Expenses |
0.000 |
0.000 |
|
Depreciation |
0.265 |
0.238 |
|
|
|
|
|
Sub
Total |
13.706 |
16.368 |
|
|
|
|
|
Add: Opening Stock-In-Process |
0.000 |
0.000 |
|
|
|
|
|
Sub
Total |
13.706 |
16.368 |
|
|
|
|
|
Deduct: Closing Stock-In-Process |
0.000 |
0.000 |
|
|
|
|
|
Cost
of Production |
13.706 |
16.368 |
|
|
|
|
|
Add: Opening Stock of Finished Goods |
0.000 |
0.000 |
|
|
|
|
|
Sub
Total |
13.706 |
16.368 |
|
|
|
|
|
Deduct: Closing Stock of Finished Goods |
0.000 |
0.000 |
|
|
|
|
|
SUB TOTAL (Total
cost of sales) |
13.706 |
16.368 |
|
|
|
|
|
Selling, General and Administrative Expenses |
1.270 |
1.494 |
|
|
|
|
|
Sub
Total |
14.977 |
17.862 |
|
|
|
|
|
Operating Profit before interests |
1.027 |
1.341 |
|
|
|
|
|
Interests on Term Loan |
0.000 |
0.000 |
|
|
|
|
|
Interests on WC Limit and Bank Charges |
0.300 |
0.450 |
|
|
|
|
|
Bank Charges |
0.020 |
0.022 |
|
|
|
|
|
Operating profit after Interests |
0.707 |
0.869 |
|
|
|
|
|
Non Operating Income |
0.000 |
0.000 |
|
|
|
|
|
Non Operating Expenses |
0.000 |
0.000 |
|
|
|
|
|
Net
of Non-operating Income and Expenses |
0.000 |
0.000 |
|
|
|
|
|
Profit
before Tax/ Loss [PBT] |
0.707 |
0.869 |
|
|
|
|
|
Provision for taxes |
0.106 |
0.157 |
|
|
|
|
|
Deferred Tax Assets |
0.000 |
0.000 |
|
|
|
|
|
Net
Profit / Loss [PAT] |
0.601 |
0.713 |
|
|
|
|
|
Retained Profit |
0.601 |
0.713 |
|
|
|
|
|
Retained profit/ Net Profit % age |
100% |
100% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2012 |
31.03.2013 |
|
|
(Projected) |
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
Short Term Borrowing from Bank |
|
|
|
i. From Application Bank |
3.000 |
3.000 |
|
ii. From Other Banks |
0.000 |
0.000 |
|
|
|
|
|
SUB
TOTAL (A) |
3.000 |
3.000 |
|
|
|
|
|
Short Term Borrowings From Others |
0.000 |
0.000 |
|
Sundry Creditors (Trader) |
3.156 |
3.787 |
|
Advances Payment from customers |
0.000 |
0.000 |
|
Provision For Taxes |
0.000 |
0.000 |
|
Dividend Payable |
0.000 |
0.000 |
|
Other Statutory Liabilities (due within one years) |
0.000 |
0.000 |
|
Installments of term loans and Deferred Payment Credits |
0.000 |
0.000 |
|
Other current Liabilities and Provisions (due within one
years) |
0.074 |
0.081 |
|
|
|
|
|
SUB
TOTAL (B) |
3.230 |
3.868 |
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
6.230 |
6.868 |
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
Debentures |
0.000 |
0.000 |
|
Redeemable Preference Shares |
0.000 |
0.000 |
|
Term Loans |
0.000 |
0.000 |
|
Deferred Payment Credits |
0.000 |
0.000 |
|
Unsecured Loans |
1.161 |
1.061 |
|
Term Deposit |
0.000 |
0.000 |
|
Other Term Liabilities |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
TERM LIABILITIES |
1.161 |
1.061 |
|
|
|
|
|
TOTAL
OF OUTSIDE LIABILITIES |
7.391 |
7.929 |
|
|
|
|
|
NET
WORTH |
|
|
|
Shares Capital |
3.588 |
4.301 |
|
Application Money |
0.000 |
0.000 |
|
Partner’s Current A/c |
0.000 |
0.000 |
|
General Reserve |
0.000 |
0.000 |
|
Revolution Reserve |
0.000 |
0.000 |
|
Reserves and Surplus |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Share Premium Account |
0.000 |
0.000 |
|
Surplus (+) or deficit (-) in Profit and Loss Account |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
NET WORTH |
3.588 |
4.301 |
|
|
|
|
|
TOTAL
LIABILITIES |
10.979 |
12.230 |
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
Cash and Bank Balance |
0.054 |
0.057 |
|
Investments [Other than long term investments] |
0.000 |
0.000 |
|
Receivables other than deferred and exports |
3.288 |
3.871 |
|
Export receivables |
0.000 |
0.000 |
|
Government and other Trustee securities |
0.000 |
0.000 |
|
Fixed deposit with bank |
0.000 |
0.000 |
|
Domestic receivable Including BP/ BD |
0.000 |
0.000 |
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
Raw Materials |
|
|
|
- Imported |
0.000 |
0.000 |
|
- Indigenous |
4.208 |
5.050 |
|
|
|
|
|
Stock in Process |
0.000 |
0.000 |
|
Finished Goods |
0.000 |
0.000 |
|
Other Consumable Spares |
0.000 |
0.000 |
|
Advances to suppliers |
0.000 |
0.000 |
|
Advance Payment of Taxes |
0.000 |
0.000 |
|
Other Current Assets |
0.557 |
0.612 |
|
|
|
|
|
TOTAL
CURRENT ASSETS |
8.107 |
9.590 |
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
Gross Block (Land and Building Machinery) |
4.345 |
4.345 |
|
Depreciation to date |
1.604 |
1.842 |
|
|
|
|
|
NET
BLOCK |
2.741 |
2.503 |
|
|
|
|
|
OTHER
NON CURRENT ASSETS |
|
|
|
|
|
|
|
Investments in sub |
0.000 |
0.000 |
|
Advances to suppliers of Capital goods and contractors |
0.000 |
0.000 |
|
Investment in Others |
0.127 |
0.134 |
|
Other Non-Current Investment |
0.003 |
0.003 |
|
|
|
|
|
TOTAL
OTHER NON CURRENT ASSETS |
0.130 |
0.137 |
|
|
|
|
|
Intangible Assets |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
ASSETS |
10.979 |
12.230 |
|
|
|
|
|
Tangible Net Worth (TNW) |
3.588 |
4.301 |
|
|
|
|
|
Net Working Capital (NWC) |
1.878 |
2.722 |
|
|
|
|
|
Current Ratio |
1.30 |
1.40 |
|
|
|
|
|
TOL/ TNW |
2.06 |
1.84 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF
CURRENT ASSETS AND CURRENT LIABILITIES
(RS
IN MILLIONS)
|
Particulars
|
31.03.2012 |
31.03.2013 |
|
|
(Projected) |
|
|
Raw Materials |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
4.208 |
5.050 |
|
Months Consumption |
3.95 |
3.95 |
|
|
|
|
|
Other consumable spares (Excluding those included 1 above) |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
|
|
|
|
Stock in process |
0.000 |
0.000 |
|
Months cost of production |
0.000 |
0.000 |
|
|
|
|
|
Finished goods |
0.000 |
0.000 |
|
Months cost of sales |
0.000 |
0.000 |
|
|
|
|
|
Receivable other than export and deferred
receivables [including bills purchased and discounted by bankers] |
3.288 |
3.871 |
|
Months domestic sales |
2.47 |
2.42 |
|
|
|
|
|
Export receivables [including bills
purchased and discounted by bankers] |
0.000 |
0.000 |
|
Months export sales |
-- |
-- |
|
|
|
|
|
Advances to suppliers of raw materials and stores/
spares consumable |
0.000 |
0.000 |
|
|
|
|
|
Other current Assets including cash and bank
balances and deferred receivable due within one year |
0.611 |
0.669 |
|
|
|
|
|
TOTAL CURRENT ASSETS |
8.107 |
9.590 |
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
[Other than bank borrowing for working
capital] |
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
3.156 |
3.787 |
|
Months Purchases |
2.96 |
2.96 |
|
|
|
|
|
Advances from customers |
0.000 |
0.000 |
|
|
|
|
|
Statutory Liabilities |
0.000 |
0.000 |
|
|
|
|
|
Other current liability Specify Major Items) Current Loan Inst. |
3.000 |
3.000 |
|
|
|
|
|
TOTAL CURRENT LIABILITIES |
6.230 |
6.868 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
Particulars
|
31.03.2012 |
31.03.2013 |
|
|
(Projected) |
|
|
FIRST
METHOD OF LENDING |
|
|
|
|
|
|
|
Total Current Assets |
8.107 |
9.590 |
|
|
|
|
|
Other current Liabilities (Other than Bank borrowings) |
3.230 |
3.868 |
|
|
|
|
|
Working Capital Gap |
4.878 |
5.722 |
|
|
|
|
|
Min. Stipulated net working capital (25% of WCG) |
1.219 |
1.430 |
|
|
|
|
|
Actual/ Project Net Working |
1.878 |
2.722 |
|
|
|
|
|
Item 3 minus item 4 |
3.658 |
4.291 |
|
|
|
|
|
Item 3 minus item 5 |
3.000 |
3.000 |
|
|
|
|
|
Maximum permissible bank finance |
3.000 |
3.000 |
|
|
|
|
|
Excess borrowing representing Shortfall in NWC |
0.000 |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF INCOME
(RS.
IN MILLIONS)
|
Particulars |
2010-2011 |
|
|
Income from
Business and Profession |
|
|
|
Profit from Shree Shyam Global |
|
0.301 |
|
|
|
|
|
Income from
Other Sources |
|
|
|
Interests from Bank |
|
0.000 |
|
|
|
|
|
GROSS INCOME
ASSESSED |
|
0.301 |
|
|
|
|
|
Less: Rebate / Deduction under Chapter – IV |
|
|
|
LIC u/s 80-C 146119.00 |
|
(0.100) |
|
|
|
|
|
Net Income
Assessed |
|
0.201 |
|
|
|
|
|
Rounded Off u/s 288-A |
|
0.201 |
|
|
|
|
|
Tax on Above Income |
|
0.004 |
|
Add: Education Cess |
|
0.000 |
|
|
|
|
|
Total tax
payable |
|
0.004 |
|
|
|
|
|
TAX LIABILITIES
(ROUNDED OFF) |
|
0.004 |
|
|
|
|
|
Tax Paid: Challan u/s 140-A |
|
0.004 |
------------------------------------------------------------------------------------------------------------------------------
TO
WHOMSOEVER IT MAY CONCERN
MR.
AJAY GUPTA
(RS.
IN MILLIONS)
|
Particulars |
Approx Market Value |
|
ASSETS |
|
|
|
|
|
Flat at DSIDC |
0.650 |
|
|
|
|
Industrial Land and Building J – 138, Bawana Industrial Area, Delhi |
7.000 |
|
|
|
|
Capital in M/s. Shree Shyam Global excluding the value of proprietors
mentioned in Point No.1 and 2 as on 31.03.2011. |
1.005 |
|
|
|
|
Jewellery and Other Misc Investment |
0.450 |
|
|
|
|
Cash and Bank Balance |
0.125 |
|
|
|
|
TOTAL ASSETS |
RS.9.230 MILLIONS |
|
|
|
|
LIABILITIES |
Nil |
|
|
|
|
NET WORTH |
RS.9.230 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE:
The father of the Proprietor in the year 1972 commenced business of
manufacturing of screw fasteners in Shastri Nagar, Delhi. Mr. Ajay Gupta joined
the business after competing graduation and provided the strength to the
concern. The concern had to shift their manufacturing operations from Shastri
Nagar to Bawana Industrial due to the sealing drive/campaign by the govt.
officials in Delhi in the year 2007. And from 2007 onwards the concern is
operating in Bawana Industrial area. But due to recent family restructure the
business was transferred in the name of Mr. Ajay Gupta in the year 2010. The
company was availing a limit form SBBJ in Karol Bagh branch but due to
difficulty in operating from Bawana industrial area the account was closed
during the year and have approached them for finance requirement. The business
was first converted into partnership firm and then after the retirement of the
partner the business stands in the name of Mr. Ajay Gupta as on date.
Mr. Ajay Gupta had the benefit of taking over a running enterprise which
has provided the enough strength to the enterprise. The dynamic leadership of
Mr. Ajay Gupta having a vast experience of more than 10 years have provided the
strength to the concern in its business affairs. Due to the efforts of the
proprietor, the concern has received running orders from corporates like Havels
having their manufacturing plant in l3addi.
PRODUCTS
MANUFACTURED:
The company is in the business of Manufacturing of screw fasteners and
all kind of metal turned components like
1. Self Tapping Screws with various heads and combinations.
2. Machine Screws, with various heads and combinations.
3. Hex Bolts, Carriage Bolts, Roofing Bolts and Nuts.
4. Rivets and Hammer drive screws
5. Special Fastening components with multi operations
6. Any other fastener as per customer designs and applications.
7. Washers
8. Studs
9. Cold headed Fasteners
The concern has also developed import substitutes of many type of
assembly Fasteners used in Automobiles, Television, Electronics, Electrical
Appliances, Tele communication and Carpentry industries etc. the concern also
have in-house facilities from wire drawing to plating and have own tool room
with well-equipped testing department. Every stage of production is under
strict observation of skilled employees so that post-mortem of quality is not
performed rather during the production itself the quality of the product is
assessed.
‘The concern also manufactures precision components of decorative locks,
curtain parts, parts of decorative lamps, automobiles, micro-electronics,
instrumental and machineries.
Raw Material
The basic raw material for manufacture of fasteners is HHB wire and for
components is extruded rod. The raw material i.e. HHB wire is procured from
Rashtriya Ispat Nigam Limited, Mukund Iron and Steel Limited and Usha Martin
Limited and from some local dealers like Amrit Wires, Delhi and Laxmi trading
corporation, Delhi.
User Industries
and Company’s Major Customers
The company generally manufactures for 1l kinds of industries
The major customers of the company are:
1. M/s. Hawells India limited, Baddi
2. M/s. Lumex Industries Limited, Pant Nagar
3. M/s. Lumex DK Auto Industries, Pant Nagar,
4. M/s. Lumex Industries, Haridwar
5. M/s. Wuereh Industrial Services, Pune
6. M/s. Minda Corporation Limited, Pant Nagar and
7. Other local Dealers
COMMENTS ON ASSESSMENT
OF WORKING CAPITAL WITH JUSTIFICATION
The above limit is a need based facility and justification is as under:
Sales: Sales of the concern are consistently in increasing trend as indicated above. The concern have projected an increase a 20% in the turnover for the year 2012 and have achieved a turnover of Rs.6.380 Millions in the period ended 31st July 2011. The concern have also expanded its operations to Baddi and Haridwar in Himachal
Pradesh which have increased the business orders for the concern and in the light of the above facts the projections of the current year i.e. 2012 at Rs.16.000 Millions seems to be realistic and achievable and iii line with the past trends.
Debtors: The Company generally is in the business of manufacturing of screw fasteners and all kind of metal turned components and all its customers are reputed and currently providing a credit of 75 days on approx, but projects to maintain the same to 75 days with the comprehensive policy of the concern.
Creditor: The concern has purchases raw materials i.e. alloy steel forging and round and in general the company avails a credit period of 90 days approx from its suppliers. The concern had availed limit from SBBJ bank but due to difficulty in operating from Karol Bagh branch the concern had closed the account and had to avail higher credit period in the year 2011 but during the year was forced to maintain a higher credit period hut envisages maintain the level of 90 days.
INVENTORY:
The limit proposed by the concern would be utilized to increase the inventory level of the concern. As on the date of balance sheet of the concern as on 31/03/2011 the inventory level of the concern stands less than a week which is due to the fact that the concern had to close its existing working capital limit due to hurdle in operating the same and as per the industry standards the concerns generally maintain a inventory level of 90 to 120 days. The concern also proposes to increase the same to 120 days so that the concern can commit the price of finished goods per quarter basis as required by various customers of the concern.
Comment on current
performance trends: (RS. IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
|
|
|
Gross Sales |
13.302 |
16.003 |
|
|
|
|
Sales of the concern are consistently in increasing trend as indicated above. The concern have projected an increase a 20% in the turnover for the year 2012 and have achieved a turnover of Rs.6.380 Millions in the period ended 31st July 2011. The concern have also expanded its operations to Baddi and Haridwar in Himachal Pradesh which have increased the business orders for the concern and in the light of the above facts the projections of the current sear i.e. 2012 at Rs.16.000 Millions seems to be realistic and achievable and in line with the past trends.
PROFITABILITY: (RS.
IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
|
|
|
Net Profit |
0.404 |
0.601 |
|
Gross Profit |
0.698 |
0.972 |
|
|
|
|
Both gross profit and net profit of the firm have improved during the financial year ending March, 2011 and the same is estimated / projected at optimal/ achievable level in current ear as well as in next financial years.
TANGIBLE NET WORTH
(TNW): (RS. IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
|
|
|
Tangible Net Worth |
2.287 |
3.588 |
|
|
|
|
The tangible net worth of the firm is increasing on year to year basis due to the plough hack of net profit earned during the year and it improves the financial strength of the concern.
CURRENT RATIO (CR):
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
|
|
|
Current Ratio |
1.11 |
1.15 |
|
|
|
|
Current ratio of the firm stands at 1.12 in 2010 and estimated to be 1.11 in 2011 and projected to be 1.15 in the FY 2012 which is above benchmark (1.10) of the bank. The current ratio is improving on year to year basis and is decreasing in the year 2010 hut the same is projects to he improved in the later years due to plough back of entire profits and further investment by the proprietor in the concern.
DEBT RATIO (DER):
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
|
|
|
Debt Equity Ratio |
1.80 |
2.65 |
|
|
|
|
TDER of the firm is 2.77 in 2010, 1.80 in the year 2011 and is projected to be increasing at 2.65 in the year 2012 due to the increase in the bank exposure which is much below the benchmark (5.00) of the bank which is a positive indicator and improves the sustainability of the firm.
Interest Coverage
Ratio:
|
Particulars |
31.03.2011 |
31.03.2012 |
|
|
|
|
|
ICR |
4.10 |
4.04 |
|
|
|
|
Interest Coverage Ratio the firm in all the years are in much above the benchmark of the bank i.e. 1.50.
ASSESSMENT OF WORKING CAPITAL
(RS. IN MILLIONS)
|
Particulars |
2011.12 |
2012.13 |
|
|
(Projected) |
|
|
|
|
|
|
Gross Sales |
16.003 |
19.204 |
|
Working Capital Required (25% of Sales) |
4.001 |
4.801 |
|
MPBF (20 % of Sales) |
3.201 |
3.841 |
|
Minimum Margin @ 5% of Gross Sales |
0.800 |
0.960 |
|
Upfront NWC Available |
1.878 |
2.722 |
|
Short fall in margin |
0.000 |
0.000 |
|
|
|
|
|
MPBF |
3.201 |
3.841 |
------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCE
· Havels Automobiles
· Lumax Automobiles
· Vuvendra Engineering
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Air Conditioner
· Aqua Guard
· Car – Ford
· Car – Qualis
· Cellular Phone
· Computers
· Fan
· Flat – DSIDC
· Machinery
· Pumpset
· Television
· Tools
· Scooter
· Weight Machine
· Building
------------------------------------------------------------------------------------------------------------------------------
WEBSITE DETAILS
PROFILE:
For over 25 years subject has focused on providing the
customers the finest quality of Fasteners, Machined parts, through innovative
manufacturing process and responsive service, at very competitive costs.
Subject has been a specialist in producing precision parts for variety of
industries. The skilled team is dedicated to exceptional quality and service.
These are the watchwords for today’s high tech industries. They have built long
term relationships with many of their customers by providing the solutions that
help them build better products. This will take place through internal research
of processing and further development.
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.45.90 |
|
|
1 |
Rs.74.31 |
|
Euro |
1 |
Rs.65.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.