MIRA
INFORM REPORT
|
Report Date : |
06.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
STERLING LAM LIMITED |
|
|
|
|
Registered
Office : |
Block No.123, At Mahiyal, Taluka Talod, Sabarkantha – 383 215, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
01.07.2004 |
|
|
|
|
Com. Reg. No.: |
04-044396 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.769 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ2004PLC044396 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
SRTS05209B AHMS11761B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS5496D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Decorative Laminates. |
|
|
|
|
No. of Employees
: |
Approximately 120 (In Office) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 560000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments terms are
reported to be usually correct and as per commitments. The company can be considered normal or 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.
INFORMATION PARTED BY
|
Name : |
Mr. Alkesh Joshi |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9376550700 |
|
Date : |
05.09.2011 |
LOCATIONS
|
Registered office/ Factory 1 : |
Block No.123, At Mahiyal, Taluka Talod, Sabarkantha – 383 215, |
|
Tel. No.: |
91-2770-220300 |
|
Mobile No.: |
91-9376550700 (Mr. Alkesh Joshi) |
|
Fax No.: |
91-2770-220500 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 sq ft (Including Office + Factory) |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Block No.124, At Mahiyal, Taluka Talod, Sabarkantha – 383 215, |
|
|
|
|
Branch Office : |
9, |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Amrutbhai Karsanbhai Patel |
|
Designation : |
Director |
|
Address : |
Opposite V.D. Mehta Petrol Pump, At Talod, District Sabarkantha – 383
215, Gujarat |
|
Date of Birth/Age : |
23.07.1958 |
|
Date of Appointment : |
30.09.2005 |
|
DIN No.: |
00314335 |
|
|
|
|
Name : |
Mr. Dharmeshbhai Mansukhbhai Patel |
|
Designation : |
Director |
|
Address : |
9, Parag Society, Near Mangalam Cinema, Odhav, Ahmedabad – 382 415, |
|
Date of Birth/Age : |
01.03.1981 |
|
Date of Appointment : |
01.07.2004 |
|
DIN No.: |
00314086 |
|
|
|
|
Name : |
Mr. Arvindbhai Vashrambhai Patel |
|
Designation : |
Director |
|
Address : |
Paras Society, Near GEB at Talod, District Sabarkantha – 383 215,
Gujarat |
|
Date of Birth/Age : |
23.09.1965 |
|
Date of Appointment : |
30.09.2005 |
|
DIN No.: |
00314312 |
|
|
|
|
Name : |
Mr. Harshadbhai Valjibhai Patel |
|
Designation : |
Director |
|
Address : |
Opposite V.D. Mehta Petrol Pump, At Talod, District Sabarkantha – 383
215, Gujarat |
|
Date of Birth/Age : |
10.10.1966 |
|
Date of Appointment : |
01.07.2004 |
|
DIN No.: |
00314137 |
KEY EXECUTIVES
|
Name : |
Mr. Alkesh Joshi |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Amrutbhaikarshanbhai Patel |
|
36000 |
|
Dharmeshbhai Mansukhbhai Patel |
|
44500 |
|
Arvindbhai Vishrambhai Patel |
|
10000 |
|
Arvindbhai Vashrambhai Patel-HUF |
|
22500 |
|
Harshadbhai Valjibhai Patel |
|
54000 |
|
Chandrakant Lakhamshibhai Patel |
|
4000 |
|
Umeshbhai Manibhai Patel |
|
16700 |
|
Bakulkumar Vishrambhai Patel |
|
16500 |
|
Arvindbhai Vashrambhai Patel-Odhav |
|
10000 |
|
Ashvinbhai Vithalbhaipatel |
|
40500 |
|
Bhupendrabhai Vithalbhai Patel |
|
17000 |
|
Bhupendrabhai Natverbhai Patel |
|
8500 |
|
Darshnaben Prakashbhai Patel |
|
30000 |
|
Darshitben Dharmeshbhai Patel |
|
59000 |
|
Daxaben Arvindbhaipatel |
|
15000 |
|
Ghanshyambhai Atmarambhai Patel |
|
45500 |
|
Jayaben Bhupendrabhai Patel |
|
30000 |
|
Jayaben Mansukhbhaipatel |
|
16000 |
|
Maniben Vashrambhai Patel |
|
16000 |
|
Mansukhbhai Vashrambhai Patel |
|
34000 |
|
Mansukhbhai Vashrambhai Patel HUF |
|
20000 |
|
Prakashbhai Vithalbhai Patel |
|
5000 |
|
Rajendra Rajnikant Joshi |
|
8500 |
|
Rekhaben Ghanshyambhai Patel |
|
27000 |
|
Ritaben Shankarbhai Bhagat |
|
19000 |
|
Shantaben Bhanjibhai Patel |
|
32500 |
|
Shilpaben Prakashbhai Patel |
|
39000 |
|
Bhagwatiben Virjibhai Patel |
|
2500 |
|
Bhavikaben Chandrakant Patel |
|
13000 |
|
Bhavnaben Pravinbhai Patel |
|
43500 |
|
Bipinkumar Shivdas Patel |
|
29600 |
|
Chetnaben Kiritbhaipatel |
|
22000 |
|
Damayantiben Lakhamsibhai Patel |
|
20000 |
|
Dhaval Arjanbhai Patel |
|
4500 |
|
Harshidaben Satishbhai Patel |
|
14500 |
|
Ilaben Harshadbhai Patel |
|
14000 |
|
Kiritkumar Lakhamsibhai Patel |
|
7500 |
|
Manjulaben Tulsibhai Patel |
|
46500 |
|
Murtiben Bipinbhai Patel |
|
37500 |
|
Pravinbhai Valjibhai Patel |
|
26500 |
|
Pravinbhai Valjibhai Patel (HUF) |
|
11000 |
|
Satishbhaiarjanbhai Patel |
|
7500 |
|
Tulsidas Shivdas Patel |
|
10000 |
|
Valjibhai Laddhabhai Patel |
|
10000 |
|
Virjibhai Laddhabhai Patel |
|
10000 |
|
Damyantiben Amrutbhai Patel |
|
13500 |
|
Devjibhai Karshanbhai Patel |
|
29000 |
|
Dinesh Dahyabhai Patel |
|
5000 |
|
Gitaben Mukeshbhai Patel |
|
25500 |
|
Govindbhai Dahyabhai Patel |
|
23500 |
|
Hansaben Vinodbhai Patel |
|
13500 |
|
Jasodaben Pravinbhai Patel |
|
10500 |
|
Laxmiben Devjibhai Patel |
|
10500 |
|
Leelaben Dineshbhai Patel |
|
7500 |
|
Madhuben Govindbhai Patel |
|
25500 |
|
Mukeshbhai Dahyabhai Patel |
|
7000 |
|
Panuben Karshanbhaipatel |
|
3500 |
|
Parvatiben Dahyabhai Patel |
|
3500 |
|
Pravinbhai Karsanbhai Patel |
|
45000 |
|
Rasilaben Vasantbhai Patel |
|
7000 |
|
Vasantbhaidahyabhai Patel |
|
5000 |
|
Vinodbhaikarshanbhai Patel |
|
28500 |
|
Nayan Amrutbhai Patel |
|
5000 |
|
Bipin Laljibhai Patel |
|
10000 |
|
Chandrikaben Himmatbhai Patel |
|
13500 |
|
Devkiben Jivrajbhai Patel |
|
10000 |
|
Dhanlaxmiben Manibhai Patel |
|
10000 |
|
Dilip Hiralal Patel |
|
15400 |
|
Gangaben Vishrambhai Patel |
|
10000 |
|
Haresh Jivrajbhai Patel |
|
7800 |
|
Harshaben Dilipbhai Patel |
|
17400 |
|
Himmatbhai Manibhai Patel |
|
6000 |
|
Jayshreeben Umeshbhai Patel |
|
11800 |
|
Kalaben Kantibhai Patel |
|
19100 |
|
Kamlaben Hiralal Patel |
|
19000 |
|
Kavitaben Mahendrabhai Patel |
|
25400 |
|
Kesharben Laljibhai Patel |
|
10000 |
|
Kishorbhaidahyabhaipatel |
|
10000 |
|
Madhuben Kishorbhai Patel |
|
12400 |
|
Mahendrabhai Hiralal Patel |
|
7900 |
|
Manishaben Vinodbhai Patel |
|
12500 |
|
Manish Kantibhai Patel |
|
7400 |
|
Manjulaben Amrutbhai Patel |
|
10000 |
|
Mayuriben Bakulbhai Patel |
|
17800 |
|
Nimesh Hiralal Patel |
|
16700 |
|
Ramilaben Dahyabhai Patel |
|
10000 |
|
Rukshmaniben Babubhai Patel |
|
2800 |
|
Rukshmaniben Haribhai Patel |
|
9000 |
|
Sunilbhai Jivrajbhai Patel |
|
10600 |
|
Vanitaben Bipinbhai Patel |
|
4200 |
|
Vasantaben Sunilbhai Patel |
|
7400 |
|
Vijayaben Arvindbhai Patel |
|
10500 |
|
Vinod Manibhai Patel |
|
20500 |
|
Binitaben Pareshbhai Patel |
|
6500 |
|
Laxmiben Shyamjibhai Patel |
|
14400 |
|
Paresh Shyamjibhai Patel |
|
14400 |
|
Reenaben Shyamjibhai Patel |
|
3000 |
|
Shyamjibhai Karshanbhai Patel |
|
4900 |
|
Darsnaben Prakashbhai Patel |
|
30000 |
|
Ritaben Shankarbhai Bhagat |
|
2500 |
|
Shantaben Bhanjibhai Patel |
|
20000 |
|
Manjulaben Tulsibhai Patel |
|
15000 |
|
Sumit Purshottambhai Patel |
|
27000 |
|
Prakrutiben Arvindbhai Patel |
|
4000 |
|
Amit Tulsibhai Patel |
|
16500 |
|
Anita Nayan Patel |
|
5000 |
|
Jigna Yogesh Patel |
|
5000 |
|
Jai Adhyashakti Marketing Private Limited |
|
32500 |
|
Bhumidev Credit Corporation Limited |
|
36000 |
|
Jai Durga Tradeling Private Limited |
|
32500 |
|
Bagrecha Marketing Private Limited |
|
37500 |
|
Ideal Fertilizer Private Limited |
|
37000 |
|
Total
|
|
1974100 |
As on 30.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
8.89 |
|
Directors
or relatives of directors |
|
89.59 |
|
Others |
|
1.52 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Decorative Laminates. |
|
|
|
|
Brand Names : |
“SILICON” |
|
|
|
|
Imports : |
|
|
Products : |
v
Base Paper |
|
Countries : |
v
v
|
|
|
|
|
Terms : |
|
|
Selling : |
Credit (60/ 90 days) |
|
|
|
|
Purchasing : |
L/C and Credit (60/ 90 days) |
PRODUCTION STATUS (AS ON 31.03.2009)
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Decorative Sheets |
Nos. |
|
600000 |
601706 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Customers : |
Distributors |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Approximately 120 (In Office) |
|||||||||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
v
The Cosmos Co-operative Bank Limited, Odhav
Branch, Vallabh Nagar Society, Near Punjab National Bank, Ahmedabad – 382
415, Gujarat, India v
Punjab National Bank, Odhav Branch, Odhav,
Ahmedabad – 382 415, |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Total Facility – Rs.140.000 Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deepak R. Soni and Company Chartered Accountants |
|
Address : |
Opposite |
CAPITAL STRUCTURE
After 30.09.2009
Authorised Capital : Rs.30.000 millions
Issued, Subscribed & Paid-up Capital : Rs.20.769 millions
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1974100 |
Equity Shares |
Rs.10/- each |
Rs.19.741
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
20.769 |
20.769 |
19.741 |
|
|
2] Share Premium |
108.518 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.800 |
115.640 |
73.139 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
140.087 |
136.409 |
92.880 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
130.047 |
59.580 |
53.643 |
|
|
2] Unsecured Loans |
21.858 |
20.473 |
36.021 |
|
|
TOTAL BORROWING |
151.905 |
80.053 |
89.664 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
291.992 |
216.462 |
182.544 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
110.301 |
64.505 |
56.454 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.648 |
0.000 |
1.012 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
77.861
|
75.274
|
63.177 |
|
|
Sundry Debtors |
167.003
|
131.359
|
103.646 |
|
|
Cash & Bank Balances |
2.900
|
3.102
|
2.761 |
|
|
Other Current Assets |
7.901
|
2.772
|
0.000 |
|
|
Loans & Advances |
3.459
|
4.052
|
2.779 |
|
Total
Current Assets |
259.124
|
216.559 |
172.363 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
77.361
|
61.702 |
44.240 |
|
|
Other Current Liabilities |
|
2.900 |
2.300 |
|
|
Provisions |
|
|
0.794 |
|
Total
Current Liabilities |
79.097
|
64.602
|
47.334 |
|
|
Net Current Assets |
180.027
|
151.957
|
125.029 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.016 |
0.000 |
0.048 |
|
|
|
|
|
|
|
|
TOTAL |
291.992 |
216.462 |
182.544 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
378.261 |
257.068 |
|
|
|
Other Income |
|
0.585 |
0.675 |
|
|
|
TOTAL |
|
378.846 |
257.743 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
274.084 |
182.497 |
|
|
|
|
|
|
|
|
|
|
Direct Expenses |
|
|
|
|
|
|
Commission Expenses |
|
0.011 |
0.000 |
|
|
|
Custom Duty for Base Paper |
|
7.698 |
5.172 |
|
|
|
Custom Duty for Melamine |
|
0.000 |
0.379 |
|
|
|
Custom Duty for Tissue Paper |
|
0.000 |
0.727 |
|
|
|
Custom Duty For Phenol |
|
1.368 |
0.000 |
|
|
|
Electricity Expenses |
|
6.073 |
5.334 |
|
|
|
Foreign Exchange Rate Difference |
|
(0.042) |
0.000 |
|
|
|
Freight - Base Paper |
|
0.287 |
0.342 |
|
|
|
Freight – General |
|
0.535 |
0.149 |
|
|
|
Freight - Import |
|
0.250 |
0.000 |
|
|
|
Freight - Kraft Paper |
|
2.290 |
2.300 |
|
|
|
Freight - Phenol |
|
0.913 |
0.747 |
|
|
|
Import Clearance Charges |
|
1.138 |
1.005 |
|
|
|
Labour Charges |
|
4.952 |
3.631 |
|
|
|
Machinery Repairs & Maintenance |
|
1.027 |
0.832 |
|
|
|
Provident Fund |
|
0.576 |
0.000 |
|
|
|
Salary Expenses |
|
3.152 |
2.023 |
|
|
|
Trade Discount |
|
(0.240) |
0.000 |
|
|
|
Vat Expense (2%) |
|
2.013 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Indirect
Expenses |
|
|
|
|
|
|
Advertisement Expenses |
|
3.766 |
1.110 |
|
|
|
Audit Fee |
|
0.040 |
0.044 |
|
|
|
Bank Charges |
|
0.976 |
0.293 |
|
|
|
Boilar Inspection Fees |
|
0.003 |
0.000 |
|
|
|
Membership Fee |
|
0.000 |
0.010 |
|
|
|
Boiler Maintenance Expenses |
|
0.009 |
0.111 |
|
|
|
Bonus/Leave Expenses |
|
0.571 |
0.485 |
|
|
|
Computer Expenses |
|
0.072 |
0.083 |
|
|
|
|
|
0.225 |
0.126 |
|
|
|
Director Remuneration |
|
1.200 |
1.200 |
|
|
|
Donation & Charity |
|
0.032 |
0.209 |
|
|
|
Electric Repairs and Maintenance |
|
0.407 |
0.269 |
|
|
|
Excise Expenses (Audit) |
|
0.339 |
0.000 |
|
|
|
Exhibition Expenses |
|
2.659 |
0.328 |
|
|
|
General Expenses |
|
0.297 |
0.238 |
|
|
|
GPCB Fee |
|
0.103 |
0.030 |
|
|
|
ISI - Registered Fees |
|
0.000 |
0.305 |
|
|
|
Income Tax Expense |
|
0.042 |
1.234 |
|
|
|
Insurance Expenses |
|
0.759 |
0.337 |
|
|
|
Interest Expenses (Car) |
|
0.237 |
0.000 |
|
|
|
Interest on Cash Credit |
|
6.838 |
3.391 |
|
|
|
Interest on Deposit |
|
1.574 |
2.873 |
|
|
|
Interest on Term Loan |
|
3.338 |
3.409 |
|
|
|
Interest Paid on TDS |
|
0.000 |
0.000 |
|
|
|
Laboratory Expenses |
|
0.016 |
0.018 |
|
|
|
Laminate Association Fee |
|
0.016 |
0.020 |
|
|
|
Landfill Charges |
|
0.002 |
0.002 |
|
|
|
Legal & Professional Fee |
|
0.130 |
0.130 |
|
|
|
Licence Fee |
|
0.022 |
0.000 |
|
|
|
Loan Processing Charges |
|
0.003 |
0.064 |
|
|
|
Marketing Expense |
|
3.716 |
2.626 |
|
|
|
Panchayat Taxes |
|
0.025 |
0.025 |
|
|
|
Post and Angadiya Charges |
|
0.083 |
0.037 |
|
|
|
Refreshment Expenses |
|
0.199 |
0.064 |
|
|
|
Rent for |
|
0.372 |
0.217 |
|
|
|
ROC Fees |
|
0.012 |
0.070 |
|
|
|
Salary - Marketing |
|
12.000 |
7.221 |
|
|
|
Sales Promotion Expenses |
|
15.235 |
11.858 |
|
|
|
Service Tax |
|
0.141 |
0.090 |
|
|
|
Staff Welfare Expenses |
|
0.014 |
0.058 |
|
|
|
Stamp Duty – Cosmos CC Loan |
|
1.016 |
0.000 |
|
|
|
Stationery and Printing Expenses |
|
0.156 |
0.121 |
|
|
|
Telephone Expenses |
|
0.370 |
0.235 |
|
|
|
Traveling Expenses |
|
0.608 |
1.093 |
|
|
|
Vehicle Running Expenses |
|
0.480 |
0.357 |
|
|
|
|
|
0.012 |
0.016 |
|
|
|
Preliminary Expenses |
|
0.000 |
0.048 |
|
|
|
Professional Tax Firm |
|
0.000 |
0.002 |
|
|
|
Provident Fund A/c |
|
0.000 |
0.446 |
|
|
|
KASAR – VATAV |
|
0.000 |
0.217 |
|
|
|
Security Service Charges |
|
0.000 |
0.079 |
|
|
|
TOTAL |
|
364.200 |
246.337 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
14.646 |
11.406 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
10.968 |
8.978 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
|
3.678 |
2.428 |
|
|
|
PARTICULARS |
|
|
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
186.154 |
|
|
|
Other Income |
|
|
0.714 |
|
|
|
TOTAL (A) |
|
|
186.868 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
|
|
169.889 |
|
|
|
Preliminary Expenses |
|
|
0.048 |
|
|
|
Differed Revenue Expenses Written off |
|
|
0.000 |
|
|
|
Increased/ (Decreased) In Stock |
|
|
(4.839) |
|
|
|
TOTAL (B) |
|
|
165.098 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
21.770 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
|
|
10.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
10.772 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
7.676 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
3.096 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.762 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
2.334 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.260 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
2.594 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
1.27 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.97
|
0.94
|
1.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.97
|
0.94
|
1.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.00
|
1.06
|
1.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.04
|
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.65
|
1.06
|
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.28
|
3.35
|
3.64 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
|
Particulars
|
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors for Capital Expenditure |
|
|
3.736 |
|
Creditors for Raw Material |
|
|
40.504 |
|
|
77.361 |
61.702 |
44.240 |
FORM 8:
|
Corporate
identity number of the company |
U25209GJ2004PLC044396 |
|
Name of the
company |
STERLING LAM LIMITED |
|
Address of the
registered office or of the principal place of business in |
Block No.123, At Mahiyal, Taluka Talod, Sabarkantha – 383 215, E-Mail: sterlinglam1@rediffmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10079725 |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
The Cosmos Co-Operative Bank Limited, Odhav Branch, Vallabh Nagar Society,
Near Punjab National Bank, Ahmedabad – 382415, Gujarat, India E-Mail: parth.dave@cosmosbank.in |
|
Nature of
description of the instrument creating or modifying the charge |
No due
certificate |
|
Date of
instrument Creating the charge |
17.05.2011 |
|
Amount secured by
the charge |
Rs.259.200
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per instrument
dated 24.09.2010 Terms of
Repayment: As per instrument
dated 24.09.2010 Margin: As per instrument
dated 24.09.2010 Extent and
Operation of the charge: As per instrument
dated 24.09.2010 |
|
Short particulars
of the property charged |
As per instrument
dated 24.09.2010 |
|
Date of latest
modification prior to the present modification |
04.01.2011 |
|
Particulars of
the present modification |
ADHOC facility of
Rs.5.000 millions sanctioned on 04.01.2011 is repaid on 17.05.2011. Hence total
credit facility available is Rs.259.200 millions. |
|
Corporate
identity number of the company |
U25209GJ2004PLC044396 |
|
Name of the
company |
STERLING LAM LIMITED |
|
Address of the
registered office or of the principal place of business in |
Block No.123, At Mahiyal, Taluka Talod, Sabarkantha – 383 215, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Immovable
Property Movable Property |
|
Particular of
charge holder |
The Cosmos Co-Operative Bank Limited |
|
Nature of
instrument creating charge |
1) Letter of
Repaid of ADHOC Limit 2) Second
Supplemental Deed of Hypothecation of Stocks, Book Debts and Machinery |
|
Date of
instrument Creating the charge |
16.09.2010 |
|
Amount secured by
the charge |
Rs.254.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Extent and
operation of the charge Company Has Repaid
ADHOC Limit of Rs.6.000 millions out of total facility of Rs.123.800 millions
hence total loan facility available is Rs.117.800 millions. in addition to
this, additional facility of Rs.141.400 millions, which include additional CC
of Rs.850 millions, TL-I of Rs.44.700 millions and TL- II of Rs.11.700
millions, is granted hence total amount secured is Rs.254.200 millions
excluding of Rs.5.000 millions sanctioned as import LC - one time originally)
against securities describe under hypothecation deed. |
|
Short particulars
of the property charged |
Factory Land and
Building at S.No.127/1 and 137/1, Block No. 123 and 124 At Mahiyal, Talod,
Sabarkantha Owened By Company Block No 134 and 135 At Mahiyal, Talod,
Sabarkantha Owned By Company All Stocks, Book Debts and Machinery of the
Company Lying At Block No 123 and 124, Mahiyal, Talod, Sabarkantha |
|
Date of
instrument modifying the charge |
02.08.2010 |
|
Particulars of
the present modification |
ADHOC Limit of
Rs.6.000 Millions is repaid. Enhance Cash Credit
Facility of Rs.85.000 Millions Means Total CC Is Rs.120.000 Millions New Term Loan - I
Facility of Rs44.700 Millions For Purchase of Machinery New Term Loan -
II Facility of Rs.11.700 Millions For Land and Building. Total Credit
Facility Is Rs.254.200 Millions Excluding One Time LC of Rs.5.000 Millions
Sanctioned Originally. |
TRADE REFERENCES:
v Shree Ambica Board Industry – Talod
v Silicon Jewel Industries Private Limited – Ankleshwar
FIXED ASSETS:
v Land
v
v Plant and Machinery
v Furniture and Fixtures
v Computers
v Office and Other Equipments
v Vehicles
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.45.94 |
|
|
1 |
Rs.74.28 |
|
Euro |
1 |
Rs.64.97 |
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 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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.