0mMIRA
INFORM REPORT
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Report Date : |
26.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SUMITSU APPAREL PRIVATE LIMITED |
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Registered
Office : |
House No.88, Gh- 12/88, Paschim Vihar, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
31.07.2006 |
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Com. Reg. No.: |
55-151435 |
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Capital Investment
/ Paid-up Capital : |
Rs. 5.500 Millions |
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CIN No.: [Company Identification
No.] |
U18101DL2006PTC151435 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Neck Tiles and Man Accessories |
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No. of Employees
: |
In Office + In Factory 70 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 40000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small business dealing 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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
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Name : |
Mrs. Natasha Dua |
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Designation : |
Director |
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Contact No.: |
91-9810002568 |
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Date : |
20.09.2011 |
LOCATIONS
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Registered Office : |
GH 12/88, GH – 12, Pashim Vihar, |
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Tel. No.: |
91-11-25273446/25483933/65663021 |
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Mobile No.: |
91-9810002568 (Mr. Natasha Dua) |
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Fax No.: |
91-11-25483931 |
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E-Mail : |
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Website : |
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Work Address : |
F-11, Udyog Nagar, Industrial Estate, Peera Garhi Chowk, |
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DIRECTORS
As on 31.03.2010
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Name : |
Mr. Sanjay Dua |
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Designation : |
Director |
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Address : |
Gh 12/88, Gh-12, Paschim Vihar, |
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Date of Birth/Age : |
04.08.1970 |
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Date of Appointment : |
31.07.2006 |
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DIN No.: |
00323167 |
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Name : |
Mrs. Anjana Dua |
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Designation : |
Director |
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Address : |
Gh 12/88, Gh-12, Paschim Vihar, |
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Date of Birth/Age : |
21.01.1936 |
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Date of Appointment : |
31.07.2006 |
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DIN No.: |
00323338 |
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Name : |
Mrs. Natasha Dua |
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Designation : |
Director |
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Address : |
Gh 12/88, Gh-12, Paschim Vihar, |
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Date of Birth/Age : |
11.10.1973 |
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Date of Appointment : |
31.07.2006 |
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DIN No.: |
01931010 |
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Name : |
Mr. Ghansham Lal Dua |
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Designation : |
Director |
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Address : |
Gh 12/88, Gh-12, Paschim Vihar, |
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Date of Birth/Age : |
25.07.1938 |
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Date of Appointment : |
31.07.2006 |
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DIN No.: |
01931042 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2010
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Names of Shareholders |
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No. of Shares |
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Sanjay Dua |
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200000 |
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Anjana Dua |
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65000 |
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Natsha Dua |
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65000 |
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Ghansham Dua |
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220000 |
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TOTAL |
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550000 |
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Neck Tiles and Man Accessories |
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Products : |
v
Ties v
Belts v
Caps v
Neckles v
Cufflinks v
Scarves v
Wallets v
Sunglasses v
Leather
Bags v
Handkercheifs v Ladies Hand Bags, etc |
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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 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
70 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Subhash Gogia Chartered Accountant |
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Address : |
2137/59, lllRD Floor, Naiwala, Karolbagh, |
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PAN.: |
ACZPG0598K |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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600000 |
Equity Shares |
Rs.10/- each |
Rs. 6.600 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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550000 |
Equity Shares |
Rs.10/- each |
Rs. 5.500
Millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.500 |
5.500 |
5.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.575 |
2.440 |
1.076 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
10.075 |
7.940 |
6.576 |
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LOAN FUNDS |
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1] Secured Loans |
10.591 |
8.850 |
2.182 |
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2] Unsecured Loans |
16.001 |
17.681 |
17.999 |
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TOTAL BORROWING |
26.592 |
26.531 |
20.181 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
36.667 |
34.471 |
26.757 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.264 |
2.324 |
1.298 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.001 |
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DEFERREX TAX ASSETS |
0.034 |
0.043 |
0.047 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
24.972
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23.852 |
19.762 |
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Sundry Debtors |
86.138
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64.233 |
44.413 |
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Cash & Bank Balances |
1.371
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1.421 |
1.339 |
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Other Current Assets |
1.151
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0.424 |
0.323 |
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Loans & Advances |
5.754
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6.056 |
5.633 |
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Total
Current Assets |
119.386
|
95.986 |
71.470 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
81.941
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62.572 |
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Other Current Liabilities |
3.100
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1.338 |
46.091 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
85.041
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63.910 |
46.091 |
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Net Current Assets |
34.345
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32.076 |
25.379 |
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MISCELLANEOUS EXPENSES |
0.024 |
0.028 |
0.032 |
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TOTAL |
36.667 |
34.471 |
26.757 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
133.045 |
120.842 |
73.069 |
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Other Income |
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TOTAL |
133.045 |
120.842 |
73.069 |
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Less |
EXPENSES AND
FINANCIAL EXPENSES |
129.561 |
118.179 |
71.053 |
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Less |
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.485 |
2.663 |
2.016 |
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Less/ Add |
DEPRECIATION AND
TAXATION |
0.407 |
0.473 |
0.342 |
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PROFIT AFTER TAX
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3.078 |
2.190 |
1.674 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.440 |
1.075 |
0.038 |
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BALANCE CARRIED
TO THE B/S |
4.575 |
2.440 |
1.076 |
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Earnings Per
Share (Rs.) |
5.60 |
3.98 |
3.04 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
2.31
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1.81 |
2.29 |
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Debt Equity Ratio (Total Liability/Networth) |
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11.08
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11.39 |
10.08 |
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Current Ratio (Current Asset/Current Liability) |
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1.40
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1.50 |
1.55 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate
identity number of the company |
U18101DL2006PTC151435 |
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Name of the
company |
SUMIT SU APPAREL
PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in |
GH 12/88, GH-12,
PASHIM VIHAR, |
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This form is for |
Modification
of Charge |
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Charge
identification (ID) number of the charge to be modified |
101200014 |
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Type of charge |
Book Debts Movable Property
(not being pledge) |
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Particular of
charge holder |
Indian Bank ,
South Extension Branch, A-7, Ring Road, New Delhi, Delhi – 110049, India Email Id: southextension@indianbank.co.in |
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Nature of
instrument creating charge |
Agreement duly
executed for the hypothecation of movable assets of the company more
particularly described in Schedule lll attached with this agreement. |
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Date of
instrument Creating the charge |
26.05.2009 |
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Amount secured by
the charge |
Rs. 25.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
: As per PLR and
subject to minimum 12.5% on daily balances with monthly rests. Terms of
Repayments : On demand Margin : 25% against the
securities hypothecated. Extent and
operation of the charge : Overdraft /
Secured up to Rs. 25.000 Millions (the limit is enhanced from Rs. 20.000 to
Rs. 25.000 Millions) |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Machinery
hypothecated has to be stored at F-12, Udyog Nagar, Peeragarhi, |
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Particulars of
the present modification |
The overdraft /
secured limit is enhanced from Rs. 20.000 Millions to Rs. 25.000 Millions
against the additional security provided by the company by way of hypothecation
of Movable assets i.e 60 Machines lying at F-12, Udyog Nagar, Peeragarhi,
Delhi |
FIXED ASSETS:
●
Acqua Guard
●
Air Conditioner
●
Car Indica
●
Computer
●
Machinery
●
Furniture
●
UPS
●
Mobile Phone
●
Water Cooler
●
Printer
●
Camera
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Swift Car
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Tools and Kits
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Gold Coin
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TV
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Swift car
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Air Purifier
●
Telephone Instrument
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Motor
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Sewing Machine
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Leather Machines
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Skiving Machine
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Strap Cutting Machine
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.49.67 |
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|
1 |
Rs.76.50 |
|
Euro |
1 |
Rs.66.98 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
05 |
|
PAID-UP CAPITAL |
1~10 |
03 |
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OPERATING SCALE |
1~10 |
03 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
03 |
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--PROFITABILIRY |
1~10 |
03 |
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--LIQUIDITY |
1~10 |
03 |
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--LEVERAGE |
1~10 |
03 |
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--RESERVES |
1~10 |
03 |
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--CREDIT LINES |
1~10 |
03 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.