MIRA INFORM REPORT
|
Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAVERA MOULDINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Anjali Complex" Khadkeshwar, Aurangabad – 431001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.01.2004 |
|
|
|
|
Com. Reg. No.: |
11-144164 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 27.322
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25206MH2004PTC144164 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKS06634F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS0229E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Plastic Mouldings Articles. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 244000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
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.
INDIAN ECONOMIC OVERVIEW
India is developing into an
open-market economy, yet traces of its past autarkic policies remain. Economic
liberalization, including industrial deregulation, privatization of state-owned
enterprises, and reduced controls on foreign trade and investment, began in the
early 1990s and has served to accelerate the country's growth, which has
averaged more than 7% per year since 1997. India's diverse economy encompasses
traditional village farming, modern agriculture, handicrafts, a wide range of
modern industries, and a multitude of services. Slightly more than half of the
work force is in agriculture, but services are the major source of economic
growth, accounting for more than half of India's output, with only one-third of
its labor force. India has capitalized on its large educated English-speaking
population to become a major exporter of information technology services and
software workers. In 2010, the Indian economy rebounded robustly from the
global financial crisis - in large part because of strong domestic demand - and
growth exceeded 8% year-on-year in real terms. However, India's economic growth
in 2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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
|
Name : |
Mr. Savane |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-2138-232159 |
|
Date : |
13.12.2012 |
LOCATIONS
|
Registered Office : |
“Anjali Complex" Khadkeshwar, Aurangabad – 431001, Maharashtra,
India |
|
Tel. No.: |
91-2138-232159 |
|
Fax No.: |
91-240-2554486 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
F-2, MIDC Area, Waluj, Aurangabad – 431136, Maharashtra, India |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
D-79, MIDC, Ranjangaon, Tel. Shirur, Pune, Maharashtra, India |
|
Tel. No.: |
91-2138-232159 |
|
Fax No.: |
91-240-2554486 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No. F1, MIDC, Supa, Tq. Pamer, District Ahmednagar – 414301,
Maharashtra, India |
DIRECTORS
AS ON 16.07.2012
|
Name : |
Mr. Atul Moreshwar Save |
|
Designation : |
Director |
|
Address : |
“Anjali Complex”, Khadkeshwar, Aurangabad – 431001, Maharashtra, India |
|
Date of Birth/Age : |
26.02.1962 |
|
Date of Appointment : |
22.01.2004 |
|
DIN No.: |
00562021 |
|
|
|
|
Name : |
Mr. Atul Prabhakar Deolankar |
|
Designation : |
Director |
|
Address : |
7, Anupama
Housing Society, Shreyanagar, Aurangabad – 431005, Maharashtra, India |
|
Date of Birth/Age : |
17.12.1960 |
|
Date of Appointment : |
21.02.2004 |
|
DIN No.: |
01293743 |
|
|
|
|
Name : |
Mr. Umesh Vinaykrao Dabri |
|
Designation : |
Director |
|
Address : |
56, “Aamod”,
Dashmeshnagar, Aurangabad – 431005, Maharashtra, India |
|
Date of Birth/Age : |
07.06.1961 |
|
Date of Appointment : |
21.02.2004 |
|
DIN No.: |
01293813 |
|
|
|
|
Name : |
Mr. Pritishkumar Amitkumar Chatterjee |
|
Designation : |
Director |
|
Address : |
Shantiniketan
Colony, Near Shani Mandir, Aurangabad - 400001, Maharashtra, India |
|
Date of Birth/Age : |
11.12.1962 |
|
Date of Appointment : |
22.01.2004 |
|
DIN No.: |
01296030 |
KEY EXECUTIVES
|
Name : |
Mr. Savane |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
Save Moreshwar Atul |
|
627003 |
|
Chatterjee Amitkumar Pritish |
|
384002 |
|
Dabri Vinayak Umesh |
|
393000 |
|
Dabri Umesh Hema |
|
113000 |
|
Dabri Mayuresh Deepali |
|
16000 |
|
Deolankar Prabhakar Leelabai |
|
9972 |
|
Deolankar Atul Neeta |
|
74762 |
|
Deolankar Prabhakar Atul |
|
362000 |
|
Thosar Prabhakar Shrikrishna |
|
200000 |
|
Vinayak Dabri |
|
2 |
|
Save Atul Anjali |
|
100000 |
|
Save Atul Ajinkya |
|
50000 |
|
Chaterjee Pritish Pritika |
|
50000 |
|
Deolankar Atul Prasad |
|
25000 |
|
Deolankar Atul Mayuri |
|
60000 |
|
Dabri Umesh Apurva |
|
87500 |
|
Thosar Kanchan |
|
130000 |
|
AQURA, India |
|
1 |
|
Total |
|
2682242 |
AS ON 16.07.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Plastic Mouldings Articles. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ashok Patil and Company Chartered Accountants |
|
Address : |
AP Heights, Behind Gopal Cultural Hall, Osmanpura, Aurangabad –
431005, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAQFA1326D |
|
|
|
|
Group Companies
: |
Ø Savera Press Comps Private Limited Ø Savera Auto Comps Private Limited Ø Savera Precision Engg Private Limited Ø Savera Precision Engg Private Limited (Plating UNIT) Ø Savera Auto Comps Private Limited (Powder Coating Div.) |
CAPITAL STRUCTURE
AS ON 16.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2682242 |
Equity Shares |
Rs.10/- each |
Rs. 26.822
Millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,732,242 |
Equity Shares |
Rs.10/- each |
Rs. 27.322
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED
CONSOLIDATED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
27.322 |
18.022 |
16.522 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
33.792 |
24.438 |
14.798 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
61.114 |
42.460 |
31.320 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
|
108.076 |
83.529 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
167.177 |
108.076 |
83.529 |
|
|
DEFERRED TAX LIABILITIES |
6.556 |
3.533 |
2.304 |
|
|
|
|
|
|
|
|
TOTAL |
234.847 |
154.069 |
117.153 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
159.975 |
71.893 |
54.954 |
|
|
Capital work-in-progress |
0.000 |
57.258 |
1.202 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.311 |
0.912 |
0.512 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
94.211
|
43.788 |
32.599 |
|
|
Sundry Debtors |
103.480
|
59.709 |
61.101 |
|
|
Cash & Bank Balances |
23.930
|
4.081 |
1.117 |
|
|
Other Current Assets |
1.618
|
0.470 |
0.000 |
|
|
Loans & Advances |
20.211
|
14.421 |
11.772 |
|
Total
Current Assets |
243.450
|
122.469 |
106.589 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
129.048
|
80.504 |
|
|
|
Other Current Liabilities |
2.490
|
0.000 |
39.513 |
|
|
Provisions |
38.351
|
14.959 |
6.662 |
|
Total
Current Liabilities |
169.889
|
95.463 |
46.175 |
|
|
Net Current Assets |
73.561
|
27.006 |
60.414 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.071 |
|
|
|
|
|
|
|
|
TOTAL |
234.847 |
154.069 |
117.153 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
633.524 |
371.605 |
271.809 |
|
|
|
Other Income |
1.808 |
1.627 |
0.366 |
|
|
|
TOTAL |
635.332 |
373.232 |
272.175 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
601.596 |
352.577 |
256.636 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
33.736 |
20.655 |
15.539 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
19.676 |
8.874 |
7.367 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
14.060 |
11.781 |
8.172 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.706 |
4.141 |
2.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
9.354 |
7.640 |
5.597 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.49 |
4.24 |
3.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.47 |
2.05 |
2.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.22 |
3.17 |
3.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.49 |
6.06 |
5.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.28 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.52 |
4.79 |
4.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
1.28 |
2.31 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Trade payable |
129.048
|
80.504 |
N.A. |
|
|
|
|
|
|
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
PERFORMANCE:
During the year, the company has achieved net sales turnover of Rs. 633.524
Millions as against Rs. 371.605 Millions, that of proceeding year.
Cash profit earned by the company during the year amount to Rs. 33.736
Millions as compared to Rs. 20.655 Millions that of proceeding year. Growth in cash
profit is not comunsurate with the growth in turnover due to the reason that,
the company could not fully utilize the export sale setup as expected export
turnover could not be achieved.
The company hopes that the export turnover will be increased substantially
in the ensuring year and consequently profitability will be improved
considerably.
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 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 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. 54.23 |
|
|
1 |
Rs. 87.53 |
|
Euro |
1 |
Rs. 70.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
|
45 |
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.