MIRA
INFORM REPORT
|
Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SURYA CONTAINERS PRIVATE LIMITED |
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Registered
Office : |
Sub Plot No.49/5, Behind Olympic Laminate, Khatrej Cross Road, Village
Karoli, Kalol-382721, Gujarat |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
15.09.1993 |
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Com. Reg. No.: |
04-020196 |
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Capital
Investment / Paid-up Capital : |
Rs. 10.340 Millions |
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CIN No.: [Company Identification
No.] |
U20230GJ1993PTC020196 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS00467F |
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PAN No.: [Permanent Account No.] |
AABCS5668J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Industrial Drums and Barrels |
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No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 78000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Ajay Chaudhary |
|
Designation : |
Director |
|
Contact No.: |
91-8447570092 / 9825015369 |
|
Date : |
09.08.2012 |
LOCATIONS
|
Registered Office / Factory 1 : |
Sub Plot No.49/5, Behind Olympic Laminate, Khatrej Cross Road, Village
Karoli, Kalol-382721, Gujarat, India |
|
Tel. No.: |
91-2764-281934 |
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Mobile No.: |
91-8447570092 / 9825015369 (Mr. Ajay Chaudhary) |
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Fax No.: |
91-2764-281935 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Surendrashingh Sardarsinh Chhabda |
|
Designation : |
Director |
|
Address : |
B-#New Gajendra Nagar-5, Vastral, Ahmedabd-382418, Gujarat, India |
|
Date of Birth : |
14.07.1963 |
|
Date of Appointment : |
01.08.2009 |
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DIN No.: |
00130470 |
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|
|
|
Name : |
Mr. Banwarilal Chaudhary |
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Designation : |
Director |
|
Address : |
C/27, Venus Apartment, Behind Ashinma Tower, Bodkdev, Ahmedabad,
Gujarat, India |
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Date of Appointment : |
15.09.1993 |
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PAN No.: |
ACQPC1951Q |
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DIN No.: |
00205495 |
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|
Name : |
Ms. Bimladevi Chaudhary |
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Designation : |
Director |
|
Address : |
C/27, Venus Apartment, Behind Ashinma Tower, Bodkdev, Ahmedabad,
Gujarat, India |
|
Date of Appointment : |
01.12.1994 |
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PAN No.: |
ACMPC0717E |
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DIN No.: |
00205550 |
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|
Name : |
Mr. Ajay Chaudhary |
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Designation : |
Director |
|
Address : |
C/27, Venus Apartment, Behind Ashinma Tower, Bodkdev, Ahmedabad,
Gujarat, India |
|
Date of Appointment : |
01.06.1998 |
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PAN No.: |
ACVPC9550C |
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DIN No.: |
00205597 |
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|
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|
Name : |
Mr. Ketan Labhshanker Mehta |
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Designation : |
Director |
|
Address : |
48, Sakar Tenament, Ghodasar, Ahmedabad-380054, Gujarat, India |
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Date of Birth : |
15.11.1967 |
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Date of Appointment : |
01.08.2009 |
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DIN No.: |
02752088 |
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Name : |
Ms. Pooja Ajaykumar Chaudhary |
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Designation : |
Director |
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Address : |
6, Amramanjari Bunglows, Gymkhana Road, Bopal, Ahmedabad-380058,
Gujarat, India |
|
Date of Appointment : |
19.09.2011 |
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PAN No.: |
AAXPM0668D |
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DIN No.: |
03623695 |
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|
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|
Name : |
Mr. Nikhil Jasvantlal Desai |
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Designation : |
Director |
|
Address : |
7, Niralpark, Baroda, Gujarat, India |
|
Date of Appointment : |
19.09.2011 |
|
DIN No.: |
03624674 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Banwarilal Chaudhary |
272900 |
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Bimladevi Chaudhary |
235600 |
|
Anita Jain |
3400 |
|
Sunita Jalan |
3500 |
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Ajay Chaudhary |
187250 |
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Vinita Chaudhary |
5500 |
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Banwarila Chaudhary HUF |
1750 |
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Pooja Chaudhary |
290000 |
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Ashish Soparkar |
50 |
|
Sidhivinayak Textile, India |
50 |
|
Umang Shah |
9000 |
|
Padmanabhadas Advisory Private Limited, India |
10000 |
|
Nirmal Advisory Private Limited, India |
15000 |
|
TOTAL
|
1034000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
2.42 |
|
Directors or relatives of Directors |
97.58 |
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TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Industrial Drums and Barrels |
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|
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Products : |
Consumer Goods – Showroom |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Drum - Division |
In Nos. |
300000 |
249864 |
|
Barrel Division |
In Nos. |
108000 |
97448 |
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
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Bankers : |
·
Bank of Baroda, Gandhi Road Branch,
Ahmedabad-380001, Gujarat, India ·
ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sunil Poddar and Company Chartered Accountant |
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Address : |
301-305, Vraj Bhumi, Behind Shilp Buildings, Navrangpura,
Ahmedabad-380009, Gujarat, India |
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PAN No.: |
ABEFS3044F |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs. 12.500 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1034000 |
Equity Shares |
Rs.10/- each |
Rs. 10.340
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
|
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|
1] Share Capital |
10.340 |
10.340 |
8.000 |
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2] Share Application Money |
0.000 |
0.000 |
2.000 |
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|
3] Reserves & Surplus |
9.306 |
9.202 |
4.047 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
19.646 |
19.542 |
14.047 |
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|
LOAN FUNDS |
|
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|
1] Secured Loans |
38.742 |
39.003 |
34.437 |
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|
2] Unsecured Loans |
10.355 |
8.319 |
10.229 |
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|
TOTAL BORROWING |
49.097 |
47.322 |
44.666 |
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DEFERRED TAX LIABILITIES |
2.142 |
2.120 |
1.396 |
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TOTAL |
70.885 |
68.984 |
60.109 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
23.207 |
25.848 |
22.004 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.055 |
0.055 |
0.055 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
33.209
|
37.274 |
23.699 |
|
|
Sundry Debtors |
18.996
|
35.644 |
27.967 |
|
|
Cash & Bank Balances |
4.640
|
2.864 |
2.580 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
10.648
|
9.829 |
12.951 |
|
Total
Current Assets |
67.493
|
85.611 |
67.197 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.605 |
41.814 |
28.162 |
|
|
Other Current Liabilities |
0.265
|
0.297 |
0.920 |
|
|
Provisions |
0.033
|
0.471 |
0.082 |
|
Total
Current Liabilities |
19.903
|
42.582 |
29.164 |
|
|
Net Current Assets |
47.590
|
43.029 |
38.033 |
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|
MISCELLANEOUS EXPENSES |
0.033 |
0.052 |
0.017 |
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TOTAL |
70.885 |
68.984 |
60.109 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SALES |
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Income |
141.460 |
130.099 |
120.173 |
|
|
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Other Income |
0.081 |
0.101 |
0.015 |
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|
|
TOTAL |
141.541 |
130.200 |
120.188 |
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Less |
EXPENSES |
|
|
|
|
|
|
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|
140.022 |
|
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|
Administrative Expenses |
|
|
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|
Advertising Expenses |
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|
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|
TOTAL |
140.022 |
125.649 |
116.804 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.519 |
4.551 |
3.384 |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.340 |
1.506 |
1.245 |
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|
PROFIT BEFORE
TAX |
0.179 |
3.045 |
2.139 |
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Less |
TAX |
0.022 |
0.968 |
0.733 |
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|
PROFIT AFTER TAX
|
0.157 |
2.077 |
1.406 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.15 |
1.79 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.11
|
1.59 |
1.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.13
|
2.34 |
1.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.20
|
2.73 |
2.40 |
|
|
|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.16 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.62
|
4.71 |
5.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.39
|
2.01 |
2.30 |
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 |
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 |
No |
|
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 |
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] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors for goods |
17.986 |
40.462 |
27.236 |
|
Creditors for expenses |
1.619 |
1.352 |
0.926 |
|
TOTAL |
19.605 |
41.814 |
28.162 |
NOTE
Registered office has been shifted from 191, GVMM Industrial Estate,
Odhav, Ahmedabad-382410, Gujarat, India to the present address w.e.f.
13.03.2012.
FORM 8
|
Corporate
identity number of the company |
U20230GJ1993PTC020196 |
|
Name of the
company |
SURYA CONTAINERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Sub Plot No.49/5, Behind Olympic Laminate, Khatrej Cross Road, Village Karoli, Kalol-382721, Gujarat, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90102220 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Bank of Baroda, Gandhi Road Branch, Ahmedabad-380001, Gujarat,
India |
|
Nature of
instrument creating charge |
1. Release of the
property situated at 191, Gujarat Vepari Mahamandal, Odhav, Ahmedabad. 2. Review of
facilities with decrease in Bank limit from 50.537 Millions to 42.437
Millions. |
|
Date of
instrument Creating the charge |
23.02.2012 |
|
Amount secured by
the charge |
Rs. 42.437
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Term Loan - Base
rate + 4% (present Base rate is 10.75%) i.e. 14.75% Cash Credit -
Base rate + 4% (present Base rate is 10.75%) i.e. 14.75% Terms of repayment Term Loan - 57
Months (including Moratorium period of 3 months) Repayable in 54 equal
monthly installments. Interest to be served separately. Cash Credit - 12
months Inland letter of
credit - 12 months Inland
Performance Bank Guarantee - 12 months Margin 25% on Plant and
Machinery 25% on Stock 25% on Book Debts
(Up to 90 days) Extent and operation of the charge Charge Operates
As First Charge |
|
Short particulars
of the property charged (Including location of the property) |
1. Plant and
Machinery, stock, book debts, Installed/lying
at sub plot no. 49/5, Block No. 49/P, Behind Olympic Laminates,
Village – Karoli, Kalol, District Gandhinagar. |
|
Date of
instrument modifying the charge |
24.03.2009 |
|
Particulars of
the present modification |
1. Release of the
property situated at 191, Gujarat Vepari Mahamandal, Odhav, Ahmedabad. 2. Review of
facilities with decrease in Bank limit from 50.537 Millions to 42.437
Millions. 3. Bank Charge is
continued against the Plant and Machinery and stock installed/lying at the
above property which was shifted by the company to Sub plot no. 49/5, Block
No. 49/P, Behind Olympic Laminates, Village - Karoli, Kalol, District
Gandhinagar. |
FIXED ASSETS
·
Plant and Machinery
·
Electric Installation
·
Vehicles
·
Factory Building
·
Office Building
·
Fax Machine
·
Office Equipments
·
Furniture
·
Computer
·
Air Conditioner
·
Land
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. 55.14 |
|
|
1 |
Rs. 86.00 |
|
Euro |
1 |
Rs. 68.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
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Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
27 |
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.