MIRA
INFORM REPORT
|
Report Date : |
23.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHIV TOOLS ENGINEERING PRIVATE LIMITED |
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Registered
Office : |
A-580, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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|
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Date of
Incorporation : |
22.03.2004 |
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|
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Com. Reg. No.: |
05-035343 |
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Capital Investment
/ Paid-up Capital : |
Rs.12.953 Millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U34300HR2004PTC035343 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKS06042B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of a press tools and sheet metal components, skin panels
and fuel tanks. |
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No. of Employees
: |
360 (Approximately) |
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 257980 |
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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 an 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Tarun |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-98703094567 |
|
Date : |
21.10.2010 |
LOCATIONS
|
Registered Office/ Factory : |
A-580, |
|
Tel. No.: |
91-129-2484485 / 2481388 |
|
Mobile No.: |
91-9811319469 (Mr. Bhikkan Singh) / 9999422022 (Mr. Rahul) / 98703094567
(Mr. Tarun) |
|
Fax No.: |
91-129-24841388 |
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E-Mail : |
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|
Area : |
2 acres (Owned) |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Bhikkan Singh |
|
Designation : |
Director |
|
Address : |
A-29, Sector 49, Sainik Colony, Faridabad-121001, |
|
Date of Birth/Age : |
01.03.1959 |
|
Date of Appointment : |
22.03.2004 |
|
DIN No.: |
00277362 |
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 |
U34300HR2004PTC035343 |
SHIV TOOLS
ENGINEERING PRIVATE LIMITED |
Director |
22-03-04 |
22-03-04 |
- |
Active |
NO |
|
Name : |
Mrs. Bimla Devi Bhikkan Singh |
|
Designation : |
Director |
|
Address : |
A-29, Sector 49, Sainik Colony, Faridabad-121001, |
|
Date of Birth/Age : |
01.05.1962 |
|
Date of Appointment : |
22.03.2004 |
|
DIN No.: |
00277413 |
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 |
U34300HR2004PTC035343 |
SHIV TOOLS
ENGINEERING PRIVATE LIMITED |
Director |
22-03-04 |
22-03-04 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Tarun |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Bhikkan Singh |
|
53965 |
|
Bimla Devi Bhikkan Singh |
|
6412 |
|
Rahul Baghel |
|
8150 |
|
Gulshan Baghel |
|
17800 |
|
Shiv Metals, |
|
43200 |
|
|
|
|
|
Total |
|
129527 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
66.65 |
|
Other top fifty shareholders |
|
33.35 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of a press tools and sheet metal components, skin panels
and fuel tanks. |
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Products : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS on 31.03.2010)
|
Particulars |
|
|
Unit |
Actual
Production Qty.
(PCS) |
|
Dies and Tools |
|
|
Nos. |
280 |
|
Auto Parts |
|
|
Nos. |
5864330 |
|
Scrap |
|
|
Kgs. |
2454802 |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
360 (Approximately) |
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Bankers : |
CC-Rs.100.000
Millions
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Facilities : |
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Financial Institution: |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Pradeep Bansal and Company Chartered Accountant |
|
Address : |
B-496, 2nd Floor, Nehru Ground, Faridabad-121001, |
|
PAN : |
ABQPB6937N |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
129527 |
Equity Shares |
Rs.100/- each |
Rs.12.953
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12.953 |
8.633 |
6.633 |
|
|
2] Share Application Money |
0.100 |
1.600 |
0.950 |
|
|
3] Reserves & Surplus |
51.442 |
25.744 |
12.322 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
64.495 |
35.977 |
19.905 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
95.085 |
62.291 |
47.768 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
95.085 |
62.291 |
47.768 |
|
|
DEFERRED TAX LIABILITIES |
5.201 |
4.130 |
2.372 |
|
|
|
|
|
|
|
|
TOTAL |
164.781 |
102.398 |
70.045 |
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|
|
|
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
98.882 |
86.514 |
75.305 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.00 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
67.343
|
45.773
|
33.097 |
|
|
Sundry Debtors |
84.772
|
39.319
|
21.637 |
|
|
Cash & Bank Balances |
3.060
|
0.435
|
0.279 |
|
|
Other Current Assets |
16.101
|
14.304
|
0.000 |
|
|
Loans & Advances |
2.537
|
5.527
|
14.424 |
|
Total
Current Assets |
173.813
|
105.358
|
69.437 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
79.320
|
54.783
|
36.862 |
|
|
Other Current Liabilities |
22.889
|
30.125
|
36.055 |
|
|
Provisions |
5.725
|
4.606
|
1.864 |
|
Total
Current Liabilities |
107.934
|
89.514
|
74.781 |
|
|
Net Current Assets |
65.879
|
15.844
|
(5.344) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.020 |
0.040 |
0.084 |
|
|
|
|
|
|
|
|
TOTAL |
164.781 |
102.398 |
70.045 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
365.656 |
207.165 |
75.388 |
|
|
|
Other Income |
10.045 |
4.149 |
2.447 |
|
|
|
TOTAL (A) |
375.701 |
211.314 |
77.835 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing, administrative and other expenses |
371.413 |
204.290 |
90.431 |
|
|
|
Depreciation of earlier years written back |
0.000 |
0.000 |
(0.122) |
|
|
|
Preliminary expenses |
0.020 |
0.044 |
0.044 |
|
|
|
Increase or decrease in stock of finished goods, semi finished goods
and scrap |
(21.570) |
(12.675) |
(22.082) |
|
|
|
TOTAL (B) |
349.863 |
191.659 |
68.271 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
25.838 |
19.655 |
9.564 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.838 |
19.655 |
9.564 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.902 |
11.566 |
6.384 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
11.936 |
8.089 |
3.180 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.518 |
2.667 |
1.349 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.418 |
5.422 |
1.831 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
93.16 |
106.73 |
42.97 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
560.000 |
Expected Sales (2011-12) : Rs.700.000 Millions.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.24
|
2.57
|
2.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.26
|
3.90
|
4.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.38
|
4.22
|
2.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.22
|
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.14
|
4.22
|
6.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
1.18
|
0.93 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
This form is for |
Modification of
charge |
|
Corporate
identity number of the company |
U34300HR2004PTC035343 |
|
Name of the
company |
SHIV TOOLS
ENGINEERING PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
A-580, |
|
Type of charge |
Immovable
property Book debts Movable Property
(not being pledge) Others (STOCKS) |
|
Particular of
charge holder |
Punjab National Bank, Sector 15, Faridabad-121002, Email Id : unitymgt@rediffmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
agreement & General counter indemnity dated 21.03.2011 for increase in
cash credit limit from Rs.625 Lacs to
Rs800Lacs & Non Fund Based limit( LC/LG/FLC) of Rs.200Lacs aggregating
Rs1000Lacs. |
|
Date of instrument
Creating the charge |
21.03.2011 |
|
Amount secured by
the charge |
Rs.100.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate+4.50% Terms of
Repayment On demand. Margin 25% for stock,
30% for book debts Extent and
Operation of the charge To the extent of
Rs.100.000 Millions Others Working capital
limits increased from Rs.62.500 Millions to Rs.100.000 Millions. Fund based
Cash Credit Rs.80.000 Millions against
stock and Book Debts( Max Rs.27.000 Millions against book debts) and Non Fund
Based( ILG/ILC/FLC ) of Rs.20.000 Millions. |
|
Short particulars
of the property charged |
|
|
Date of last
modification prior to the present modification |
05.12.2009 |
|
Particulars of
the present modification |
Working capital
limits increased from Rs.62.500 Millions to Rs.100.000 Millions. Fund based
Cash Credit Rs.80.000 Millions against stock and Book Debts( Max Rs.27.000
Millions against book debts) and Non Fund Based( ILG/ILC/FLC ) of Rs.20.000
Millions. Release of two properties in the name of Mr.Chandan Singh
(1)A-446/2,Dabua Colony, |
Fixed Assets:
- Air
Conditioner
- Building
Under Construction
- Building
- Car
- Computer and
Software
- Cycle
- Electric
Equipments
- Furniture and
Fixtures
- Fax Machine
- Generator
- Inverter
- Land
- Mobile Phone
- Plant and
Machinery
- Office
Equipments
- Transformer
- Scooter and
Motor Cycle
- Tata – 407
- Weighing
Machine
Trade References:
- Shram Shakti Enterprises
- Deep Trading
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.48.82 |
|
|
1 |
Rs.75.48 |
|
Euro |
1 |
Rs.66.10 |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.