|
Report Date : |
23.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
CS COMPONENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
508, Oberio Chambers, Bldg No. 1, New Link Road, Andheri (west),
Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.06.2001 |
|
|
|
|
Com. Reg. No.: |
11-132527 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH2001PTC132527 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Engineering projects. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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.
INFORMATION PARTED BY
|
Name : |
Mr. Govind |
|
Designation : |
Accountant Department |
|
Contact No.: |
91-22-26735166 |
|
Date : |
20.04.2012 |
LOCATIONS
|
Registered Office : |
508, Oberio Chambers, Bldg No. 1, New Link Road, Andheri (west), Mumbai
– 400053, Maharashtra |
|
Tel. No.: |
91-22-26735166 / 64 / 26735167 / 39401525 |
|
Fax No.: |
91-22-26732815 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 194-196, GIDC, Umbergaon, Valsad, Gujarat – 396171, |
|
Tel. No.: |
91-260-2562162 / 2562148 |
|
Fax No.: |
91-260-2564172 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Shridhar Bansidhar Gupta |
|
Designation : |
Director |
|
Address : |
B-5 / 1204, |
|
Date of Birth/Age : |
05.09.1946 |
|
Date of Appointment : |
28.06.2001 |
|
DIN No.: |
00398524 |
|
Name : |
Mr. Mohammed Umer Farooq Shaikh |
|
Designation : |
Director |
|
Address : |
85 / 86, Landmark Tower, CHS Mithchoky, Malad Andheri Link Road, Malad
– (west), Mumbai – 400064, India |
|
Date of Birth/Age : |
28.05.1959 |
|
Date of Appointment : |
28.06.2001 |
|
DIN No.: |
00398670 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Shridhar Bansidhar Gupta |
51125 |
|
Mohammed Umer Mohammed Farooq |
125000 |
|
Ashok Shridhar Gupta |
97500 |
|
Deepak Shridhar Gupta |
60750 |
|
Mohammed Haroon Mohammed Farooq |
57500 |
|
Rubina Mohammed Quamer |
57500 |
|
Manish Rajkumar Agarwal |
30625 |
|
Total |
480000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Engineering projects. |
|
|
|
|
Product: |
Components and Engineering Goods |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Sheet Metal Components, Machine Parts, Electrical Panel etc. |
Nos. |
N.A. |
N.A. |
700580 |
|
Traded Goods: Components, Machine Parts |
Nos. |
N.A. |
N.A. |
0 |
GENERAL INFORMATION
|
Suppliers : |
Manufacturer and Importer |
|||||||||||||||||||||||||||
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Customers : |
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|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Oriental Bank Of
Commerce Limited, Specialised S.M.E. Branch, Bombay Bazar Building, 1st Floor
, Station Road , Santacruz (west), Mumbai – 400054, Maharashtra, India |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
GMJ and Company Chartered Accountant |
|
Address : |
3rd & 4th
Floor, Vaastu Darshan B - wing, above Central Bank Of India, Azad
Road, Andheri(east), Mumbai – 400069, Maharashtra, India |
|
Tel.
No.: |
91-22-40679500 |
|
PAN No.: |
AAAFG2163L |
|
|
|
|
Enterprises over which Key Management Personnel are able to exercise
Significant influence: |
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
480000 |
Equity Shares |
Rs.10/- each |
Rs. 4.800
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.800 |
4.800 |
4.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
192.693 |
148.170 |
106.999 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
197.493 |
152.970 |
111.799 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
101.107 |
64.482 |
80.461 |
|
|
2] Unsecured Loans |
25.175 |
22.450 |
33.653 |
|
|
TOTAL BORROWING |
126.282 |
86.932 |
114.114 |
|
|
DEFERRED TAX LIABILITIES |
12.927 |
8.635 |
7.992 |
|
|
|
|
|
|
|
|
TOTAL |
336.702 |
248.537 |
233.905 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
251.137 |
158.932 |
151.453 |
|
|
Capital work-in-progress |
0.000 |
1.301 |
6.316 |
|
|
|
|
|
|
|
|
INVESTMENT |
14.600 |
8.300 |
8.300 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.724
|
42.482 |
31.567 |
|
|
Sundry Debtors |
90.980
|
93.332 |
68.259 |
|
|
Cash & Bank Balances |
9.256
|
1.514 |
3.096 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
46.585
|
28.015 |
18.317 |
|
Total
Current Assets |
198.545
|
165.343 |
121.239 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
108.084
|
62.805 |
42.933 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
19.496
|
22.534 |
10.470 |
|
Total
Current Liabilities |
127.580
|
85.339 |
53.403 |
|
|
Net Current Assets |
70.965
|
80.004 |
67.836 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
336.702 |
248.537 |
233.905 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
530.650 |
432.316 |
295.432 |
|
|
|
Other Income |
0.837 |
0.395 |
2.997 |
|
|
|
TOTAL |
531.487 |
432.711 |
298.429 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
92.658 |
85.882 |
47.660 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
24.347 |
21.541 |
21.462 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
68.311 |
64.341 |
26.198 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
22.672 |
22.058 |
9.235 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
45.639 |
42.283 |
16.963 |
|
|
|
|
|
|
|
|
|
Less |
Prior Year
Taxation |
0.000 |
(0.005) |
0.066 |
|
|
Less |
FBT Adj. Earlier
Year |
0.000 |
(0.002) |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
45.639 |
42.290 |
16.892 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
119.970 |
82.299 |
67.192 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
3.650 |
3.500 |
1.000 |
|
|
|
Proposed Dividend |
0.960 |
0.960 |
0.671 |
|
|
|
Dividend Distribution Tax |
0.156 |
0.159 |
0.114 |
|
|
BALANCE CARRIED
TO THE B/S |
160.843 |
119.970 |
82.299 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3.236 |
0.000 |
5.979 |
|
|
|
Stores & Spares |
7.719 |
3.944 |
2.001 |
|
|
|
Capital Goods |
82.704 |
11.148 |
3.628 |
|
|
TOTAL IMPORTS |
93.659 |
15.092 |
11.608 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
95.08 |
88.09 |
37.91 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
600.000 |
The above information has been parted by Mr. Govind.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.09
|
0.10 |
0.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.13
|
0.15 |
0.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.15
|
0.20 |
0.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.42 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.35
|
1.18 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56
|
1.94 |
2.27 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three 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 |
Yes |
|
21. Market information |
------- |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
No |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
Yes |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
Sundry Creditors
Details:
|
Particulars |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
108.084
|
62.805 |
42.933 |
|
|
|
|
|
FORM 8
|
Corporate
identity number of the company |
U74210MH2001PTC132527 |
|
Name of the
company |
CS COMPONENTS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
508, Oberio Chambers, Bldg No. 1, New Link Road, Andheri (west),
Mumbai – 400053, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90147800 |
|
Type of charge |
Any interest in
immovable property |
|
Particular of
charge holder |
Oriental Bank Of Commerce
Limited Specialised
S.M.E. Branch, Email: emailroc@rediffmail.com
|
|
Nature of instrument
creating charge |
No Instrument -
Extension Of Deposit Of Title Deeds |
|
Date of
instrument Creating the charge |
31.07.2010 |
|
Amount secured by
the charge |
Rs. 289.198
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest rate, as
agreed between the borrower companies and the bank from time to time. Penal interest
rate, as agreed between the borrower companies and the bank from time to
time. Terms of repayment Repayment, as
agreed between the borrower companies and the bank from time to time. Margin Margin Rate, As
Agreed Between The Borrower Companies And The Bank From Time To Time. Extent and operation of the charge At the request of
the borrower company, the bank has revised overall banking limits upto Rs.
289.198 Millions , against mortgage of the lease hold rights in lease hold
property, and extension of mortgage of
building situated at GIDC, Umbergaon 396171, District Valsad,
Gujarat together with Super structure, Plant and Machinery. The charge stands
modified upto Rs. 289.198 Millions |
|
Short particulars
of the property charged (Including location of the property) |
Factory Land and
Building Situated at A-1/285/1, DIDC, Umbergaon 396171, District Valsad,
Gujarat together with all Buildings,
Super structure, Plant and Machinery constructed. Factory premises
at 195 and 196, GIDC, Umbergaon 396171 Valsad Gujarat. Factory premises at
194, GIDC, Umbergaon 396171 Valsad Gujarat |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. If yes, in whose
name it is registers |
GIDC Umbergaon
Valsad At the request of
the borrower company, the bank has revised overall banking limits upto Rs.
289.198 Millions, against mortgage of the lease hold rights in lease hold
property, and extension of mortgage of
building situated at GIDC, Umbergaon 396171, District Valsad,
Gujarat together with Super structure, Plant and Machinery. The charge stands
modified upto Rs. 289.198 Millions |
Contingent Liabilities: (Not provided for claims
not acknowledged as debts)
|
Particulars |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.
2010 |
|
Liability in respect of Income tax matters
in appeal |
Nil |
0.117 |
|
Liability in respect of Sales tax matters in
appeal (2006-2007) |
1.150 |
Nil |
|
Guarantees given by Companies Bankers |
38.889 |
3.514 |
|
Guarantees and Counter Guarantees given by
the company on behalf of: Santo Engineering Company Private Limited. to
Oriental Bank of Commerce for Credit Limits. |
Nil |
19.617 |
Fixed Assets:
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. 51.99 |
|
|
1 |
Rs. 83.53 |
|
Euro |
1 |
Rs. 68.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
48 |
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.