|
Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
BIG SAM SNACKS AND FOODS PRIVATE LIMITED |
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|
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Registered
Office : |
Tower I, First Floor, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.02.2009 |
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|
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Com. Reg. No.: |
190221 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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|
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CIN No.: [Company Identification
No.] |
U15201MH2009PTC190221 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB19459G |
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PAN No.: [Permanent Account No.] |
AADCB7336B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Supplier of Sea Foods, Prawns, Fish, Squid
Drinks, King Fish, Pranthas, Green Piece, Sweet Corn. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
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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. The company
has incurred huge losses in the first year of operation. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered 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. Manav Mukharjee |
|
Designation : |
General Manager Finance |
|
Contact No.: |
91-22-67021222/25 |
|
Date : |
31.03.2012 |
LOCATIONS
|
Registered Office : |
Tower I, First Floor, Kohinoor City, Kirol Road, Off LBS Road, Kurla
(West), Mumbai – 400070, Maharashtra, India |
|
Tel. No.: |
91-22-61445353 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Ashvin mohanlal Samtani |
|
Designation : |
Director |
|
Address : |
11-N, Shamshiba, Nargis Dutt Road, Pali Hill, Bandra West, Mumbai –
400050, Maharashtra, India |
|
Date of Birth/Age : |
23.05.1954 |
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Date of Appointment : |
10.02.2009 |
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|
|
|
Name : |
Mr. Praveen Kumar Balbheem Rao |
|
Designation : |
Director |
|
Address : |
Flat No.703, Raheja Classique Building No.3, CTS 619B/1, Link Road,
Oshiwara, Andheri West, Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
13.04.1955 |
|
Date of Appointment : |
10.02.2009 |
|
|
|
|
Name : |
Mr. Vicent Tommy Fernandez |
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Designation : |
Director |
|
Address : |
A-13, Kisloskar Residency HSG, Society, Next to Tendor, Touch
hospital, IT Road, Aundh, Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1963 |
|
Date of Appointment : |
10.08.2010 |
|
|
|
|
Name : |
Mr. Raju Mohanlal Samtani |
|
Designation : |
Director |
|
Address : |
C-1, Emly Apartments, 15 Road, Khar West, Mumbai – 400052,
Maharashtra, India |
|
Date of Birth/Age : |
23.04.1959 |
|
Date of Appointment : |
10.02.2009 |
|
Date of Ceasing: |
12.08.2011 |
KEY EXECUTIVES
|
Name : |
Mr. Manav Mukharjee |
|
Designation : |
General Manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ashvin Mohanlal Samtani |
|
9000 |
|
Gaurav Ashvin Samtani |
|
500 |
|
Lavin Ashvin Samtani |
|
500 |
|
Total |
|
10000 |
AS ON 29.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Supplier of Sea Foods, Prawns, Fish, Squid
Drinks, King Fish, Pranthas, Green Piece, Sweet Corn. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
State Bank of India, Vashi Turbhe Branch, Devgiri Banking Complex,
Sector-19-C, Near APMC Police Station, Vashi, Navi Mumbai - 400703,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
K. R. Raheja and Company Chartered Accountant |
|
Address : |
103, Commerce House, Maruaai Mandir Road, Danpada, Khar (W), Mumbai – 400052,
Maharashtra, India |
|
|
|
|
Associates: |
·
Indepesca Overseas Private Limited ·
Triton Management Services Private Limited ·
Indepesca Aquaculture Private Limited ·
Triton Cold Chain Logistics and Services Private
Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(35.145) |
0.000 |
|
|
NETWORTH |
|
(35.045) |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.041 |
0.151 |
|
|
2] Unsecured Loans |
|
80.686 |
15.018 |
|
|
TOTAL BORROWING |
|
80.727 |
15.169 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
45.682 |
15.269 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
7.519 |
3.568 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
(0.065) |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
23.690 |
0.999 |
|
|
Sundry Debtors |
|
3.063 |
3.290 |
|
|
Cash & Bank Balances |
|
0.997 |
0.184 |
|
|
Other Current Assets |
|
2.610 |
0.004 |
|
|
Loans & Advances |
|
1.770 |
0.063 |
|
Total
Current Assets |
|
32.130 |
4.540 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.600 |
0.144 |
|
|
Other Current Liabilities |
|
2.729 |
0.252 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
3.329 |
0.396 |
|
|
Net Current Assets |
|
28.801 |
4.144 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
9.427 |
7.557 |
|
|
|
|
|
|
|
|
TOTAL |
|
45.682 |
15.269 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
|
|
20.691 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
(34.223) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.857 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(35.080) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
(35.080) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
|
0.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
|
(35.145) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(3515) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
(169.86) |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
NA |
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|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(88.47) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(100.10) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
(2.40) |
(155.65) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
9.65 |
11.46 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
|
0.600 |
0.144 |
FORM 8:
|
Corporate identity number of the company |
U15201MH2009PTC190221 |
|
Name of the company |
BIG SAM SNACKS & FOODS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
807, Platinum Techno Park, Plot 17/18
Sector 30A, Vashi, Navi Mumbai – 400705, Maharashtra, India |
|
This form is for |
Creation of charge Modification of charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of charge holder |
State Bank Of India |
|
Nature of instrument creating charge |
Agreement of Loan-Cum-Hypothecation
(SME-2). |
|
Date of instrument Creating the charge |
03/09/2011 |
|
Amount secured by the charge |
Rs.60.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest @6% p.a. above State Bank Base Rate with minimum
of 15.50% p.a. with monthly rest or at such other rate or rest as may be
fixed by the Bank from time to time. Terms of Repayment On demand. Margin Margin to be maintained @ 33.33% over
Finished Goods and @40% over receivables (cover 90 days). Extent and Operation of the charge Security created by way of first charge
and to cover principal amount together with interest, cost, charges etc. Others Security created in respect of cash
credit. |
|
Short particulars of the property charged |
All present and future stocks, raw
materials, finished goods, goods, book debts and vehicles and all other
movable assets including receivables, documents of title to goods,
outstanding monies, bills, invoices documents, contracts, insurance policies,
guarantees, engagements, securities, investments and rights and all the
present and future machinery belonging to or in the possession or control of
the Company wherever lying, stored and kept and whether in possession of the
Company or of the Bank or of any third party whether in India or elsewhere
including all such goods, vehicles, other movable assets as may be in the
course of shipment, transit or delivery and all the machinery, vehicles, and
other equipment items of whatever nature acquired by the Company. |
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.51.15 |
|
|
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.68.34 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
14 |
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.