MIRA
INFORM REPORT
|
Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SATYAM PLASTFAB PRIVATE LIMITED [w.e.f. 29.04.2009] |
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Formerly Known
As : |
SATYAM INK AND PIGMENTS PRIVATE LIMITED |
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Registered
Office : |
B-110, Riico Housing Colony, Road No. 1-D, VKI Area, Jaipur-302013,
Rajasthan |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
13.06.2008 |
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|
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Com. Reg. No.: |
17-026780 |
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Capital
Investment / Paid-up Capital : |
Rs.13.140
Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U25199RJ2008PTC026780 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
JPRS08749G |
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PAN No.: [Permanent Account No.] |
AAMCS1452R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of PP/HDPE Woven Sack and Fabrics. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 140000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company having moderate track. 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
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 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
B-110, Riico Housing Colony, Road No. 1-D, VKI Area, Jaipur-302013, |
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Tel. No.: |
91-141-2460393/2168097 |
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Fax No.: |
91-141-2460549 |
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E-Mail : |
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Factory: |
E-137-E137-A, Phase-2, Riico Industrial Area, Bagru Extension,
Jaipur-303007, |
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Tel. No.: |
91-141-2460393 |
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Email: |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Ashish Agrawal |
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Designation : |
Director |
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Address : |
G-22, Major Shajtan Singh Colony, Shastri Nagar, Jaipur-302001, |
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Date of Appointment : |
13.06.2008 |
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Din No.: |
02013780 |
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Other Directorship:
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Name : |
Ms. Pushpa Agrawal |
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Designation : |
Director |
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Address : |
G-22, Major Shajtan Singh Colony, Shastri Nagar, Jaipur-302001, |
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Date of Appointment : |
13.06.2008 |
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Din No.: |
02013871 |
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Other Directorship:
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Name : |
Mr. Ramratan Agrawal |
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Designation : |
Director |
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Date of Appointment : |
28.06.2008 |
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02243481 |
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Other Directorship:
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Name : |
Ms. Ritu Agrawal |
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Designation : |
Director |
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Address: |
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Date of Appointment : |
28.06.2008 |
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Din No.: |
02243503 |
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Other Directorship:
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Name : |
Ms. Sushila Madan Lal Goyal Chachan |
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Designation : |
Director |
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Address : |
1/375, Vidyadhar Nagar, Jaipur-302016, |
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Date of Birth/Age : |
08.01.1973 |
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02253415 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ashish Agrawal |
|
305760 |
|
Pushpa Agrawal |
|
270000 |
|
Ramratan Agrawal |
|
350000 |
|
Ritu Agrawal |
|
240700 |
|
Nidhi Rani Gupta |
|
50000 |
|
Dharmendra Kumar |
|
2500 |
|
Shweta Tiwari |
|
5000 |
|
Girdhari Lal Agrawal |
|
4000 |
|
V.K. Chabra |
|
30000 |
|
R.K. Baraya |
|
3000 |
|
Sushila Madan Lal Goyal Chachan |
|
48500 |
|
Dinesh Lahoti |
|
2000 |
|
Vinod Kumar Gupta |
|
2540 |
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|
|
|
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Total |
|
1314000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PP/HDPE Woven Sack and Fabrics. |
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Products : |
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GENERAL INFORMATION
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Suppliers : |
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Bankers : |
Small Industries Development Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kuldeep Kumar Gupta and Company Chartered Accountant |
|
Address : |
209, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1350000 |
Equity Shares |
Rs.10/- each |
Rs.13.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1314000 |
Equity Shares |
Rs.10/- each |
Rs.13.140
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
13.140 |
0.500 |
|
|
2] Share Application Money |
|
12.295 |
1.700 |
|
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3] Reserves & Surplus |
|
11.177 |
0.000 |
|
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4] (Accumulated Losses) |
|
0.000 |
(0.048) |
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NETWORTH |
|
36.612 |
2.152 |
|
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LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
|
55.329 |
0.000 |
|
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2] Unsecured Loans |
|
0.000 |
0.000 |
|
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TOTAL BORROWING |
|
55.329 |
0.000 |
|
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DEFERRED TAX LIABILITIES |
|
1.161 |
0.000 |
|
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|
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|
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TOTAL |
|
93.102 |
2.152 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
74.359 |
3.610 |
|
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Capital work-in-progress |
|
0.000 |
1.733 |
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|
|
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INVESTMENT |
|
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
Inventories |
|
9.860
|
0.000 |
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Sundry Debtors |
|
8.728
|
0.000 |
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|
Cash & Bank Balances |
|
0.979
|
0.293 |
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Other Current Assets |
|
4.925
|
0.050 |
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Loans & Advances |
|
0.866
|
0.000 |
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Total
Current Assets |
|
25.358
|
0.343 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
3.844
|
3.611 |
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Other Current Liabilities |
|
2.619
|
0.001 |
|
|
Provisions |
|
0.350
|
0.005 |
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Total
Current Liabilities |
|
6.813
|
3.617 |
|
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Net Current Assets |
|
18.545
|
(3.274) |
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MISCELLANEOUS EXPENSES |
|
0.198 |
0.083 |
|
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|
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TOTAL |
|
93.102 |
2.152 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Turnover |
|
35.797 |
0.000 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
5.520 |
0.000 |
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Less |
FINANCIAL
EXPENSES |
|
2.343 |
0.000 |
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
3.177 |
0.000 |
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.018 |
0.000 |
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|
PROFIT / LOSS
BEFORE TAX |
|
2.159 |
(0.048) |
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Less |
TAX |
|
1.494 |
0.000 |
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|
PROFIT / LOSS
AFTER TAX |
|
0.665 |
(0.048) |
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|
Earnings Per
Share (Rs.) |
|
0.50 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
|
6.03 |
0.00 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.17 |
(1.21) |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.05 |
(0.02) |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
1.70 |
1.68 |
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Current Ratio (Current Asset/Current Liability) |
|
|
3.72 |
0.09 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION:
During the period the company could achieve the sales of Rs.35.797 millions
in comparison of last year’s turnover of Rs.0.000 million.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U25199RJ2008PTC026780 |
|
Name of the
company |
SATYAM PLASTFAB
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-110, Riico Housing Colony, Road No. 1-D, VKI Area, Jaipur-302013, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Immovable
Property |
|
Particular of
charge holder |
Small Industries Development Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Letter of Intent
Dated27/09/2010 Loan Agreement
Dated 27/09/2010 Declaration
and Undertaking Dated 27/09/2010 Deed of
Hypothecation Dated 27/09/2010 |
|
Date of
instrument Creating the charge |
27.09.2010 |
|
Amount secured by
the charge |
Rs.9.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest will be payable
@ 11.75% p.a. with monthly rests, on the amount of loan outstanding from time
to time Terms of
Repayment The loan shall be
repaid by the borrower to SIDBI in 72 installments after moratorium of 12
months from the date of first disbursement of the loan. The date of such
installments shall be 10th day of each month of each year. Margin 26.23% Extent and
Operation of the charge 100% to secure
all dues related to term loan of Rs. 9.000 millions by first charge in favour
of SIDBI. |
|
Short particulars
of the property charged |
I)
Extension
of first charge by way of equitable mortgage in favour of SIDBI of all the
immovable properties of the borrower, both present and future, situate at plot no E-137and E-137A, Bagru, Jaipur II)
First
charge by way of hypothecation on all the movables of the borrower including
plant and machinery, equipment,
machinery spares, tools and
accessories, furniture and
fixtures, etc III)
Extension
of First charge by way of hypothecation on all the movables of the borrower
to the satisfaction of SIDBI for securing earlier assistance sanctioned to
the borrower by SIDBI. IV)
First
charge by way of whole of the current assets, of the borrower, both present
and future and including but not limiting to, all stocks of raw material,
wip, semi finished goods, finished goods etc V)
First
charge by way of hypothecation of all the present and future book debts and
other actionable claims arising out of genuine trade transaction |
Fixed Assets:
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Computer
- Office Equipments
- Electric Fittings Charges
- Mobiles
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.47.84 |
|
|
1 |
Rs.75.40 |
|
Euro |
1 |
Rs.65.67 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.