|
Report Date : |
06.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHUBHSHREE CONSTRUCTION |
|
|
|
|
Registered
Office : |
Flat No. 4 Deccan Sanskruti, Nath Prangan, Opposite Janki Hotel,
Garkheda, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
29.02.2012 |
|
|
|
|
Date of
Incorporation : |
16.08.2010 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.567 million |
|
|
|
|
PAN No.: [Permanent Account No.] |
BDFPP8718R |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Building Construction with Specialization in Industrial
Construction |
|
|
|
|
No. of Employees
: |
20 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20096 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new proprietory concern having satisfactory
track records. Trade relations are reported to be usually correct. The concern 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. C R Palwankar |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9370148166 |
|
Date: |
06.04.2012 |
LOCATIONS
|
Registered Office : |
Flat No. 4 Deccan Sanskruti, Nath Prangan, Opposite Janki Hotel,
Garkheda, |
|
Tel. No.: |
91-240-2243003 / 2452417 |
|
Mobile No.: |
91-9370148166 (Mr. C R Palwankar) |
|
Fax No.: |
91-240-2243003 |
|
E-Mail : |
|
|
Area : |
16000 sq.ft |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mrs. Shubhangi C Palwankar |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
37 years |
|
Date of Appointment : |
15 years |
KEY EXECUTIVES
|
Name : |
Mr. C R Palwankar |
|
Designation : |
Chief Executive Officer |
|
Date of Birth/Age : |
40 years |
|
Date of Appointment : |
18 years |
BUSINESS DETAILS
|
Line of Business : |
Building Construction with Specialization in Industrial
Construction |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
No. of Employees : |
20 Approximately |
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Bankers : |
·
IDBI Bank, Seven Hill, ·
Poornawadi Nagrik Sahakari Bank Limited, |
|||||||||||||||||||||
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|||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhartiya Sahuji and Waghmare Associates Chartered Accountant |
|
Address : |
B-3 and 4 Suyash Complex, Kalda Corner, |
|
Tel. No.: |
91-240-2362530 / 2348191 |
|
E-Mail : |
|
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 29.02.2012
|
Capital Investment : |
Rs. In Millions |
|
Capital Accounts
|
Rs.0.503 million |
|
Income Tax
Refund |
Rs. 0.064 million |
|
|
Rs. 0.567
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
01.04.2011 to
29.02.2012 |
01.04.2010 to 31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietors Capital |
|
0.567 |
0.504 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
4.457 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
5.024 |
0.504 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
1.604 |
|
|
2] Unsecured Loans |
|
0.000 |
0.612 |
|
|
TOTAL BORROWING |
|
0.000 |
2.216 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.024 |
2.720 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4.721 |
0.533 |
|
|
Capital work-in-progress |
|
0.000 |
2.097 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.700 |
0.123 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Loans
(Liability) |
|
|
|
|
|
Bank OD Accounts |
|
2.243 |
0.000 |
|
|
CR Palwankar-Hand Loan (Unsecured) |
|
(2.012) |
0.000 |
|
|
Total |
|
0.231 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
6.306 |
0.000 |
|
|
Sundry Debtors |
|
6.826 |
0.208 |
|
|
Cash & Bank Balances |
|
1.078 |
0.155 |
|
|
Other Current Assets |
|
0.143 |
0.868 |
|
|
Loans & Advances |
|
1.752 |
0.000 |
|
Total
Current Assets |
|
16.105 |
1.231 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
13.195 |
1.072 |
|
|
Other Current Liabilities |
|
1.610 |
0.000 |
|
|
Provisions |
|
1.928 |
0.192 |
|
Total
Current Liabilities |
|
16.733 |
1.264 |
|
|
Net Current Assets |
|
(0.628) |
(0.033) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.024 |
2.720 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
01.04.2011 to
29.02.2012 |
01.04.2010 to
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
46.768 |
8.160 |
|
|
|
Other Income |
|
0.004 |
0.000 |
|
|
|
TOTAL (A) |
|
46.772 |
8.160 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
30.926 |
4.196 |
|
|
|
Account writing Charges |
|
0.000 |
0.021 |
|
|
|
Conveyance and Travelling
Expenses |
|
0.104 |
0.077 |
|
|
|
Design Charges |
|
0.020 |
0.005 |
|
|
|
Electricity
Charges |
|
0.015 |
0.002 |
|
|
|
Insurance
Charges |
|
0.085 |
0.015 |
|
|
|
Legal &
Professional Fees |
|
0.083 |
0.019 |
|
|
|
Office Expenses |
|
0.004 |
0.032 |
|
|
|
Printing and
Stationery |
|
0.020 |
0.016 |
|
|
|
Professional
Fees |
|
0.002 |
0.100 |
|
|
|
Rent For Labour
Residence |
|
0.000 |
0.033 |
|
|
|
Repairs and
Maintenance |
|
0.023 |
0.038 |
|
|
|
Sales Promotion
Expenses |
|
0.039 |
0.001 |
|
|
|
Staff and Labour
Welfare |
|
0.011 |
0.015 |
|
|
|
Telephone Exp. |
|
0.049 |
0.014 |
|
|
|
Testing Charges |
|
0.014 |
0.028 |
|
|
|
Vat audit Fees |
|
0.017 |
0.008 |
|
|
|
Water Charges |
|
0.010 |
0.002 |
|
|
|
Workman Comp.
Insurance |
|
0.000 |
0.032 |
|
|
|
Other Expenses |
|
9.967 |
2.626 |
|
|
|
TOTAL (B) |
|
41.389 |
7.280 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
5.383 |
0.880 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.298 |
0.142 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
5.085 |
0.738 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.472 |
0.054 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT FOR
THE YEAR |
|
4.613 |
0.684 |
|
KEY RATIOS
|
PARTICULARS |
|
|
01.04.2011 to
29.02.2012 |
01.04.2010 to
31.03.2011 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.33 |
6.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.96 |
0.97 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
|
Particulars |
|
01.04.2011 to 29.02.2012 |
01.04.2010 to
31.03.2011 |
|
|
|
|
|
|
Sundry Creditors |
|
13.195 |
1.072 |
TRADE REFERENCE:
·
East West Seeds India Private Limited
·
Skoda Auto India Private Limited
·
Can-Pack India Private Limited
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last Two years |
Yes |
|
12) Profitability for last Two years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
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.51.04 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
|
44 |
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.