1. Summary Information
|
|
|
Country |
|
|
Company Name |
SHIV PETROLEUM |
Principal Name 1 |
Mr. Mohit S. Sharma |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Rohit S. Sharma |
|
|
|
Registration # |
-- |
|
Street Address |
Office No 120,
Rishabh Corner, 1st Floor, Plot No 93, Sector 8, Gandhidham -
370201, |
||
|
Established Date |
10.11.2004 |
SIC Code |
-- |
|
Telephone# |
91-2836-226058 |
Business Style 1 |
Trader |
|
Fax # |
91-2836-230821 |
Business Style 2 |
Importer |
|
Homepage |
Product Name 1 |
Heat Shrink Sleeves |
|
|
# of employees |
35
(Approximately) |
Product Name 2 |
Steel Coils and Plates |
|
Capital Investment: |
Rs.9,028,000/- |
Product Name 3 |
Steel Shots and Grit |
|
Shareholders |
-- |
Banking |
HDFC Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
8 Year |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
|
CLS Enterprises Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
30,695,000 |
Current Liabilities |
19,305,000 |
|
Inventories |
18,151,000 |
Long-term Liabilities |
25,358,000
|
|
Fixed Assets |
1,955,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
44,663,000 |
|
Invest& other Assets |
2,890,000 |
Retained Earnings |
0 |
|
|
|
Net Worth |
9,028,000 |
|
Total Assets |
53,691,000 |
Total Liab. & Equity |
53,691,000 |
|
Total Assets (Previous Year) |
42,412,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
134,795,000 |
Net Profit |
351,000 |
|
Sales(Previous yr) |
120,786,000 |
Net Profit(Prev.yr) |
471,000 |
|
Report Date : |
11.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHIV PETROLEUMS |
|
|
|
|
Registered
Office : |
Office No 120, Rishabh Corner, 1st Floor, Plot No 93,
Sector 8, Gandhidham - 370201, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 (Consolidated) |
|
|
|
|
Date of
Incorporation : |
10.11.2004 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.028 Millions |
|
|
|
|
IEC No.: |
3705001027 |
|
|
|
|
TIN No.: |
24011002743 |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABBFS0146F |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Trader and Importer of Powder Epoxy, Liquid Epoxy, PE, PE Adhesive,
PP, PP Adhesive, Welding Wires, Welding Flux, Welding Electrode, Lumbers,
Heat Shrink Sleeves, Industries Paints, Steel Shots and Grit, Milling Tools,
Hot Rolled Coils, Hot Rolled Plates, Seamless Pipes, Billets, HMS Scrap,
Timber Logs, etc |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 36000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ 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 : |
Office No 120, Rishabh Corner, 1st Floor, Plot No 93,
Sector 8, Gandhidham - 370201, |
|
Tel. No.: |
91-2836-226058 |
|
Fax No.: |
91-2836-230821 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1500 Sq.ft |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Mohit S. Sharma |
|
Designation : |
Parter |
|
Address : |
Plot No.30, Sector 1, Gandhidham, |
|
Date of Birth/Age : |
02.05.1982 |
|
Qualification : |
B.Com and LLB |
|
Experience : |
9 Years |
|
|
|
|
Name : |
Mr. Rohit S. Sharma |
|
Designation : |
Parter |
|
Address : |
Plot No.30, Sector 1, Gandhidham, |
|
Date of Birth/Age : |
10.12.1978 |
|
Qualification : |
Bachlors Degree in Hotel Management and MBA |
|
Experience : |
8 Years |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Powder Epoxy, Liquid Epoxy, PE, PE Adhesive,
PP, PP Adhesive, Welding Wires, Welding Flux, Welding Electrode, Lumbers, Heat
Shrink Sleeves, Industries Paints, Steel Shots and Grit, Milling Tools, Hot
Rolled Coils, Hot Rolled Plates, Seamless Pipes, Billets, HMS Scrap, Timber
Logs, etc |
|
|
|
|
Products : |
·
Powder Epoxy ·
Liquid Epoxy ·
PE Adhesive ·
PP Adhesive ·
Welding Wires ·
Welding Flux ·
Welding Electrode ·
Lumbers ·
Heat Shrink Sleeves ·
Industries Paints ·
Steel Shots and Grit ·
Milling Tools ·
Hot Rolled Coils ·
Hot Rolled Plates ·
Seamless Pipes ·
Billets ·
HMS Scrap ·
Timber Logs |
|
|
|
|
Agencies Held : |
·
SHAIC, ·
·
·
·
KCC, ·
·
·
SSAB, ·
Mitsui – ·
Erdemire Steel – ·
·
Hyundai EP, ·
·
Atlantic Welding, |
|
|
|
|
Imports : |
|
|
Products : |
Powder Epoxy, Liquid Epoxy, PE, PE Adhesive, PP, PP Adhesive, Welding
Wires, Welding Flux, Welding Electrode, Lumbers, Heat Shrink Sleeves,
Industries Paints, Steel Shots and Grit, Milling Tools, Hot Rolled Coils, Hot
Rolled Plates, Seamless Pipes, Billets, HMS Scrap, Timber Logs, etc |
|
Countries : |
·
·
·
·
·
·
·
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
Credit (90 Days) |
GENERAL INFORMATION
|
Suppliers : |
·
·
KPICC ·
Dreams Maker General
Trading L.L.C. – ·
Mohoramplast ·
Mitsui – ·
·
Shagang Steel – ·
KCC ·
SSAB ·
Atlantic, etc. |
|
|
|
|
No. of Employees : |
35 (Approximately) |
|
|
|
|
Bankers : |
·
HDFC Bank Limited ·
State Bank of ·
The Gandhidham Mercantile Co – Operative Bank
Limited Branch Address: Gandhidham |
|
|
|
|
Facilities : |
--- |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Khimji Kunverji and Company Chartered Accountant |
|
Address : |
Office No.1, FF, Neelam Complex, Plot No.298, Ward 12 – B, Gandhidham |
|
Tel. No.: |
91-2836-221427, 223567 |
|
Fax No.: |
91-2836-222835 |
|
E-Mail : |
|
|
|
|
|
Associates/Subsidiaries : |
Name: CLS Industries
Private Limited Address:38, 43, 44,
& 45, S.No.89, Meghpur, Borichi, Anjar, Kutch Line of
Business: Manufacturing Name: CLS Enterprises
Private Limited Address: Office No.120,
Rishabh Corner, FF, Plot No.93, Sec-1, Gandhidham, Gujarat, India Line of
Business: Trading of Scrap, Commodities and Timber Name: Shiv
Enterprises Address: Office No.120,
Rishabh Corner, FF, Plot No.93, Sec-1, Gandhidham, Gujarat, India Line of
Business: Trading Name: C L Sharma
Resorts Private Limited Address: Survey No. 98,
Galpadar Anjar Road, Gandhidham, Gujarat, India Line of Business: 4 Star Hotel Name: Quality
Petroleums Address: S.No. 89, Meghpur
Borichi, Galpadar – Anjar Road, Gandhidham Line of
Business: Petrol Pump Name: Sharma Guest
House Address: D.B.Z, N – 16,
Collector Road, Gandhidham, Gujarat, India Line of
Business: Guest House Facilities |
CAPITAL STRUCTURE
As on 31.03.2011
|
Capital Investment : |
|
|
Owned : |
Rs.9.028 Millions |
|
Borrowed : |
--- |
|
Total : |
Rs.9.028 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
CONSOLIDATED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
9.028 |
11.229 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
9.028 |
11.229 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
19.735 |
23.002 |
|
|
2] Unsecured Loans |
|
5.623 |
3.159 |
|
|
TOTAL BORROWING |
|
25.358 |
26.161 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
34.386 |
37.390 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.955 |
7.436 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
2.890 |
3.221 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
18.151
|
16.189 |
|
|
Sundry Debtors |
|
11.742 |
8.932 |
|
|
Cash & Bank Balances |
|
14.647 |
0.982 |
|
|
Other Current Assets |
|
1.307 |
1.145 |
|
|
Loans & Advances |
|
2.999 |
4.507 |
|
Total
Current Assets |
|
48.846
|
31.755 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
17.899 |
3.734 |
|
|
Other Current Liabilities and Provision |
|
1.406 |
1.288 |
|
Total
Current Liabilities |
|
19.305
|
5.022 |
|
|
Net Current Assets |
|
29.541
|
26.733 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
34.386 |
37.390 |
|
CONSOLIDATED PROFIT &
LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
134.795 |
120.786 |
|
|
|
Other Income |
|
2.410 |
13.265 |
|
|
|
TOTAL (A) |
|
137.205 |
134.051 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
120.390 |
113.471 |
|
|
|
Direct Expenses |
|
12.003 |
8.302 |
|
|
|
Indirect Expenses |
|
2.848 |
7.041 |
|
|
|
Auditors Remuneration |
|
0.051 |
0.047 |
|
|
|
Bank Commission and Other Charges |
|
0.990 |
1.081 |
|
|
|
TOTAL (B) |
|
136.282 |
129.942 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.923 |
4.109 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST PAID (D) |
|
0.270 |
1.896 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0653 |
2.213 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.302 |
1.742 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT (E-F) (G) |
|
0.351 |
0.471 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
0.23 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
4.95 |
2.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.53 |
6.32 |
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 |
Yes |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
No |
|
22] |
Litigations that the firm
/ promoter involved in |
No |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
TRADE REFERENCES
·
C.K.Goel – Director, PSL
Limited Survey No. 40,42 and 94/1, Bhachau, Bhimasar Road, Vill: Varsana, Tal:
Anjar – Kutch (Gujarat), Phone:90-2836-306100
·
V.K. Pandey – Vice
President – PSL Limited. Survey No. 40, 42 and 94/1, Bhachau, Bhimasar Road,
Vill: Varsana, Tal: Anjar – Kutch (Gujarat), Phone: 91- 2836-306100
·
Manoj Sanghvi – Director,
Ratnamani Metals and Tubes Limited. Plot no. 3306 to 3309, Chhatral GIDC
Estate, Phase – IV, Ahmedabad Mehsana Highway, Ta – Kalol, District –
Gandhinagar (Gujarat), Phone: 91-2764-232234
·
Ankur Agnihotri – Vice
President, Jindal Saw Limited. , Jindal Centre, 12 Bhikaji Cama Place, New
Delhi, Tel: 91-11-26188360-74, 26188345
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.55.17 |
|
|
1 |
Rs.86.47 |
|
Euro |
1 |
Rs.68.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
|
|
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.