|
Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHANPAR INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303/5 GIDC Estate, Makarpura, Vadodara – 390010, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.02.2005 |
|
|
|
|
Com. Reg. No.: |
04-045542 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110GJ2005PTC045542 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS04645E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS8062P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Calcium Gluconate by Electrochemistry. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 530000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established and reputed company having good track.
Financially company is performing well. Trade relations are reported to be
fair. Business is active. Payments are reported to be regular and as per
commitment. The company can be considered for normal 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Head Office / Plant : |
303/5 GIDC Estate, Makarpura Road, Vadodara – 390010, Gujarat, India |
|
Tel. No.: |
91-265-2638973/74/75/76 / 2638717 |
|
Fax No.: |
91-265-2633702 / 2645130 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
9, Sadhana, Nanda Patkar Marg, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
Tel. No.: |
91-22- 26104226 |
|
Fax No.: |
91-22-26171532 |
|
|
|
|
Overseas Office : |
6310 Kerne Ct., Clarksville, MD 21029, USA |
|
Tel. No.: |
+1-410 531-5671 |
|
Fax No.: |
+1-410 531-5736 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Bhailalbhai Nathabhai Patel |
|
Designation : |
Managing director |
|
Address : |
105, Jyoti Society, Fatehgunj, Vadodara – 390002, Gujarat, India |
|
Date of Birth/Age : |
11.05.1944 |
|
Date of Appointment : |
01.11.2009 |
|
DIN No.: |
00119817 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24110GJ2005PTC045542 |
SHANPAR
INDUSTRIES PRIVATE LIMITED |
Managing
director |
1/11/2009 |
22/02/2005 |
Active |
NO |
|
2 |
U24110GJ2005PTC045571 |
CANTON
LABORATORIES PRIVATE LIMITED |
Managing
director |
1/4/2009 |
25/02/2005 |
Active |
NO |
|
Name : |
Mr. Mohanlal Sarayuprasad Yadav |
|
Designation : |
Director |
|
Address : |
D-20, Amruta park Society, Makarpura, Vadodara – 390010, Gujarat,
India |
|
Date of Birth/Age : |
24.09.1964 |
|
Date of Appointment : |
30.03.2005 |
|
DIN No.: |
00240879 |
|
|
|
|
Name : |
Mr. Arupkumar Sailendranath Chakraborty |
|
Designation : |
Director |
|
Address : |
A-26, Sunmoon Park, Akota, Vadodara – 390020, Gujarat, India |
|
Date of Birth/Age : |
29.12.1954 |
|
Date of Appointment : |
22.02.2005 |
|
DIN No.: |
00241174 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Bhailalbhai Nathabhai Patel |
|
595950 |
|
Bhailalbhai Nathabhai Patel (HUF) |
|
404000 |
|
Sonal patel |
|
10000 |
|
Amit B Patel |
|
10000 |
|
Tesajbhai V Patel |
|
50 |
|
Jigita Patel |
|
10000 |
|
Total |
|
1030000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Calcium Gluconate by Electrochemistry. |
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Fine Chemicals |
(Kg/Ltr) |
Depending on
type of products |
425316 Kgs |
GENERAL INFORMATION
|
Customers : |
·
Ciba ·
Novartis ·
Clariant ·
Phzer ·
Ranbaxy ·
Intas ·
Cipla ·
Lucas Meyer |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D J Dalal Dushyant J Dalal and Compnay Chartered Accountants |
|
Address : |
"Mansi" 33 Anandnagar Society, Productivity Road, Vadodara –
390007, Gujarat, India |
|
PAN No.: |
ABTPD2631E |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1030000 |
Equity Shares |
Rs.10/- each |
Rs.10.300
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 |
10.300 |
10.300 |
10.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
121.744 |
90.081 |
62.437 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
132.044 |
100.381 |
72.737 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
32.227 |
26.263 |
24.329 |
|
|
TOTAL BORROWING |
32.227 |
26.263 |
24.329 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
164.271 |
126.644 |
97.066 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
16.310 |
14.730 |
11.367 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.644 |
8.051 |
8.052 |
|
|
DEFERREX TAX ASSETS |
1.446 |
1.589 |
1.925 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
26.494
|
19.378 |
8.674 |
|
|
Sundry Debtors |
32.363
|
26.535 |
22.769 |
|
|
Cash & Bank Balances |
18.500
|
22.592 |
10.583 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
80.286
|
58.579 |
48.495 |
|
Total
Current Assets |
157.643
|
127.084 |
90.521 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.279
|
9.051 |
(0.563) |
|
|
Other Current Liabilities |
1.407
|
1.397 |
1.583 |
|
|
Provisions |
16.086
|
14.415 |
13.890 |
|
Total
Current Liabilities |
18.772
|
24.863 |
14.910 |
|
|
Net Current Assets |
138.871
|
102.221 |
75.611 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.053 |
0.111 |
|
|
|
|
|
|
|
|
TOTAL |
164.271 |
126.644 |
97.066 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
163.346 |
141.721 |
141.739 |
|
|
|
Other Income |
3.381 |
1.638 |
6.534 |
|
|
|
TOTAL (A) |
166.727 |
143.359 |
148.273 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative Expenses |
11.505 |
9.027 |
7.214 |
|
|
|
Selling and Distribution Expenses |
8.246 |
6.040 |
8.604 |
|
|
|
Cost of Goods Sold |
104.647 |
82.201 |
87.722 |
|
|
|
(Increase) / Decrease In stock |
(9.967) |
(1.253) |
0.134 |
|
|
|
TOTAL (B) |
114.431 |
96.015 |
103.674 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
52.296 |
47.344 |
44.599 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.108 |
3.185 |
2.711 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
49.188 |
44.159 |
41.888 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
2.025 |
1.573 |
2.455 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
47.163 |
42.586 |
39.433 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.500 |
14.941 |
13.871 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
31.663 |
27.645 |
25.561 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
90.081 |
62.436 |
36.875 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
101.744 |
90.081 |
62.436 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
30.74 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
19.00
|
19.28 |
17.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
28.87
|
30.05 |
27.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.11
|
30.03 |
38.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.42 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.39
|
0.51 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.40
|
5.11 |
6.07 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
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 |
|
31] |
PAN of Director, if
available |
No |
|
32] |
Passport No of Director,
if available |
No |
|
33] |
Voter ID No of Director,
if available |
No |
OPERATIONS:
The company has made substantial progress in
global market share capitalization of Iron supplement and Saccharates salts.
The company has also made progress in introducing low barium salts of strontium
metal.
FUTURE OUTLOOK:
The company intends to expand its operation
both in term of products spectrum and quantum it has already initiated towards
expansion of activities at Mulpur and Nandesari. This would results in
substantial increase in production capacity of the company.
FIXED ASSETS:
·
Land and Building
·
Car
·
Computer
·
Electrical Installation
·
Factory Equipments
·
Office Equipments
·
Plant and Machinery
·
Printer
·
UPS
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.55.78 |
|
|
1 |
Rs.86.75 |
|
Euro |
1 |
Rs.68.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.