MIRA
INFORM REPORT
|
Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUJAN IMPEX
PRIVATE LIMITED |
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Registered
Office : |
105, Bombay
Samachar Marg, 1st Floor, Road No. 10, Fort, Mumbai – 400001,
Maharashtra |
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Country : |
India |
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Financials (as on)
: |
31.03.2010 |
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Date of
Incorporation : |
17.07.1996 |
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Com. Reg. No.: |
11-101179 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.422 Million |
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CIN No.: [Company Identification
No.] |
U51900MH1996PTC101179 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS39058F |
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PAN No.: [Permanent Account No.] |
AACCS2106G |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business
: |
Traders and Importer
of Electronics items and Engineering goods and fabrics. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 210000 |
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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 a well 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.
INFORMATION PARTED BY
|
Name : |
Mr. Ravindra K Mehta |
|
Designation : |
Director |
|
Date : |
13.09.2011 |
LOCATIONS
|
Registered Office : |
105, Bombay
Samachar Marg, 1st Floor, Road No. 10, Fort, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-22663465 /
28634916 / 2662281 |
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Fax No.: |
91-22-22692811 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Corporate
Office : |
C – 3, Nanddham
Industrial Estate, Marol Maroshi Road, Andheri [East] Mumbai – 400059, Maharashtra, India |
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Tel. No.: |
91-22-66969381 /
82 |
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Fax No.: |
91-22-6696384 |
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Warehouse : |
Shed No. L/19/5 and 6, GIDC Industrial, Area, Por, Ramangamdi,
Baroda-391243, Gujarat, India |
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Tel. No.: |
91-265-2831529 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Ravindra
Khushalchand Mehta |
|
Designation : |
Director |
|
Address : |
8/104,
Harshvardhan Society, Shkivihar Road, Sakhinaka, Andheri [East], Mumbai –
400072, Maharashtra, India |
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Date of Birth/Age : |
01.05.1961 |
|
Date of Appointment : |
01.10.1997 |
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DIN No.: |
01742781 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U51900MH1996PTC101179 |
Sujan
Impex Private Limited |
Director |
01-10-97 |
01-10-97 |
Active |
NO |
|
Name : |
Mr. Girish
Chinubhai Parikh |
|
Designation : |
Director |
|
Address : |
10, Bapaji Niwas,
6th Road, Santacruz [East], Mumbai-400072, Maharashtra, India |
|
Date of Birth/Age : |
18.01.1961 |
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Date of Appointment : |
01.04.2000 |
|
DIN No.: |
00691233 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U51900MH1996PTC101179 |
Sujan
Impex Private Limited |
Director |
01-10-97 |
01-10-97 |
- |
Active |
NO |
|
2 |
U28113GJ2007PTC050856 |
Joy
Architronic Products Private Limited |
Director |
16-05-07 |
16-05-07 |
- |
Active |
NO |
|
3 |
U28112GJ2007PTC051293 |
Sprech
Tenso-Structures Private Limited |
Director |
30-09-08 |
15-10-07 |
06-05-09 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Girish C. Parikh |
500 |
|
C. R. Parikh |
500 |
|
Manjari G. Parikh |
19100 |
|
C. R. Parikh, HUF |
500 |
|
Ravindra K Mehta |
5100 |
|
Meena R Mehta |
6000 |
|
Ravindra K Mehta HUF |
9000 |
|
Pushpavati K Mehta |
1000 |
|
Kusum C. Parikh |
500 |
|
Total |
42200 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders and
Importer of Electronics items and Engineering goods and fabrics. |
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Imports : |
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Products : |
·
Fabrics |
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Countries : |
·
France |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Atishay Jatia ·
Avinash Kumar Dwivedi ·
Kalpesh Water Supplier ·
Jay Jalaram Tempo Service ·
Riddhi Siddhi Advertising ·
Shreeji Paper Mart ·
Vrajlal V Joshi ·
Business India Exibition Private Limited ·
Fortune Cars Private Limited ·
Graphic Communication ·
Integrated Freight Services ·
Naresh and Company ·
Anand Khere |
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Customers : |
Retailers ·
Agam Enterprise ·
Ancon Enterprises ·
Foresight Corporation ·
A - 1 Decor ·
Chamunda Awning (Navsari) ·
Joy Architronic Products Private Limited ·
Sprech Tenso-Structures Private Limited ·
Sun Setter Awnings ·
Curtain Systems ·
Bharat Hotels Limited ·
Shri Sai Structural Works ·
Jay Interiors Products ·
National Carpet and Services ·
Shalimar Carpets and Marketing Enterprises ·
S K Enterprise ·
Hightech Engineering Company ·
Sri Vinayaka Vinodh Associates ·
Exotic Interiors Private Limited |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
·
HDFC Bank ·
State Bank of India ·
IDBI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Naresh and Company Chartered Accountant |
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Address : |
210-203, City Enclave, Opposite Polo Ground, Bagikhana,
Vadodara-390001, Gujarat, India |
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Associates/Subsidiaries : |
·
Suman Udyog Private Limited ·
Joy Architronic Products Private Limited ·
Sprech Tenso-Structures Private Limited. ·
Joy Awning |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
42200 |
Equity Shares |
Rs.10/- each |
Rs. 0.422
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
0.422 |
0.422 |
0.422 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
52.650 |
43.876 |
34.844 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
53.072 |
44.298 |
35.266 |
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LOAN FUNDS |
|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
2.316 |
12.646 |
1.665 |
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TOTAL BORROWING |
2.316 |
12.646 |
1.665 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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|
|
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TOTAL |
55.388 |
56.944 |
36.931 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.482 |
6.366 |
5.630 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
5.306 |
3.634 |
3.660 |
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DEFERREX TAX ASSETS |
0.272 |
0.129 |
0.050 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
21.448
|
30.938 |
23.642 |
|
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Sundry Debtors |
33.290
|
29.379 |
20.722 |
|
|
Cash & Bank Balances |
3.698
|
8.999 |
6.071 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.712
|
6.754 |
5.514 |
|
Total
Current Assets |
65.148
|
76.070 |
55.949 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.971
|
23.602 |
23.040 |
|
|
Other Current Liabilities |
0.757
|
0.082 |
0.000 |
|
|
Provisions |
5.092
|
5.571 |
5.318 |
|
Total
Current Liabilities |
20.820
|
29.255 |
28.358 |
|
|
Net Current Assets |
44.328
|
46.815 |
27.591 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
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|
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|
|
|
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TOTAL |
55.388 |
56.944 |
36.931 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
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|
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TURNOVER |
98.463 |
115.475 |
97.031 |
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|
|
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PROFIT BEFORE
TAX |
14.710 |
15.448 |
14.319 |
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|
Less |
TAX |
4.949 |
5.429 |
NA |
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|
|
|
|
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|
PROFIT AFTER TAX
|
9.761 |
10.019 |
NA |
|
|
|
|
|
|
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|
EXPORT VALUE |
4.053 |
0.000 |
0.000 |
|
|
|
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IMPORTS VALUE |
44.506 |
62.696 |
53.232 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
231.31 |
237.44 |
231.48 |
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
120.000 |
|
|
|
|
|
Expected Sales (2011-2012) : Rs. 150.000 Millions
The above information has been parted by Mr. Ravindra Mehta.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
14.94
|
13.38 |
14.76 |
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.75
|
18.71 |
23.23 |
|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.35 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.44
|
0.95 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.13
|
2.60 |
1.97 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
14.971
|
23.602 |
23.040 |
FINANCIAL RESULTS
:
During the year, Company
has achieved a turnover of Rs. 98.463 millions (PY Rs. 115.475 millions) which,
after many years is a drop compared to the earlier year. The Recessionary times
hit our Company since slowdown in infrastructure growth indirectly impacted
them. However, the margins continued to remain good. Also with the
strengthening of rupee against the euro, there were forex gains during the
year. Further they also got reimbursements from their principals i.e. Ferrari
from France towards various Business Promotion and Commission expenses. On
account of these, the Company was able to achieve a healthy pre-tax
profitability of Rs. 14.710 millions which was just marginally lower than the
previous year figure of Rs. 15.448 millions despite the substantial drop in
turnover. Similarly the PAT was also at Rs. 9.761 millions again just a
marginal drop from previous year PAT of Rs. 10.019 millions.
With swift
recovery in the Indian Infrastructure sector on the anvil, we are positive of
getting back on the growth path in the coming year in terms of turnover. With
continued focus and thrust on development and growth of business while also
looking at other avenues of business, they expect higher volumes and
profitability in percentage as well as absolute terms in the coming year.
TRADE REFERENCE:
·
A Harilal and Company
Private Limited
·
Jolly Motor.
FIXED
ASSETS
v
Computer
Systems
v
Motor
Car
v
Furniture
and Fixture
v
Fax
Machines
v
Air
conditioner
v
Motor
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. 47.09 |
|
|
1 |
Rs. 74.64 |
|
Euro |
1 |
Rs. 64.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.