MIRA
INFORM REPORT
|
Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
STALLION ENERGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
929-930, Star Plaza, Near Circuit House, Phulchhab Chowk,
Rajkot-360001, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.05.2009 |
|
|
|
|
Com. Reg. No.: |
04-057015 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209GJ2009PTC057015 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTS06613F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AANCS0926P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Coke and Petroleum Products |
|
|
|
|
No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 16000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject was established as a partnership concern in the year 1997 by
the name of ‘Stallion Energy’ and was changed into private limited company in
the year 2009. It is an established company having moderate track.
Profitability of the company appears to be slow. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
929-930, Star Plaza, Near Circuit House, Phulchhab Chowk,
Rajkot-360001, Gujarat, India |
|
Tel. No.: |
91-281-2478974 / 2443721 / 2478713 / 3245552 / 324551 / 2478975 |
|
Fax No.: |
91-281-2471665 / 2443721 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No.83/1, Ardoi, Near Toll Plaza (Bharudi), Rajkot- Gondal
National Highway, Taluka Kolda, Sangani, District Rajkot-360030, Gujarat,
India |
|
Location : |
Owned |
DIRECTORS
AS ON 18.07.2011
|
Name : |
Mr. Kuldipsinh Bhikhubha Basiya |
|
Designation : |
Managing Director |
|
Address : |
Ravi Menor, Flat No.301, Amin Marg, Rajkot-360005, Gujarat, India |
|
Date of Birth/Age : |
13.09.1971 |
|
Date of Appointment : |
21.05.2009 |
|
DIN No.: |
02627106 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U23209GJ2009PTC057015 |
STALLION
ENERGY PRIVATE LIMITED |
Managing
director |
10-06-09 |
21-05-09 |
Active |
NO |
|
2 |
U15400GJ2010PTC061910 |
STALLION
ORGANICS PRIVATE LIMITED |
Director |
09-08-10 |
09-08-10 |
Active |
NO |
|
Name : |
Ms. Smitadevi Kuldeepsinh Basiya |
|
Designation : |
Whole Time Director |
|
Address : |
Ravi Menor, Flat No.301, Amin Marg, Rajkot-360005, Gujarat, India |
|
Date of Birth/Age : |
13.09.1978 |
|
Date of Appointment : |
21.05.2009 |
|
DIN No.: |
02627098 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U23209GJ2009PTC057015 |
STALLION
ENERGY PRIVATE LIMITED |
Director |
21-05-09 |
21-05-09 |
Active |
NO |
|
2 |
U15400GJ2010PTC061910 |
STALLION
ORGANICS PRIVATE LIMITED |
Director |
09-08-10 |
09-08-10 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.07.2011
|
Names of Shareholders |
No. of Shares |
|
Kuldipsinh Bhikhubha Basiya |
300000 |
|
Smitadevi Kuldeepsinh Basiya |
100000 |
|
Total |
400000 |
AS ON 18.07.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Coke and Petroleum Products |
GENERAL INFORMATION
|
No. of Employees : |
65 (Approximately) |
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Bankers : |
·
Karnataka Bank Limited, Rajkot Branch, Kalawad
Road, Rajkot-360005, Gujarat, India |
|||||||||||||||
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|||||||||||||||
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Facilities : |
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|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sunil G Vasoya Chartered Accountant |
|
Address : |
Vasoya and Associates, 303, Star Plaza, Phulchhab Chowk,
Rajkot-360001, Gujarat, India |
|
Pan No.: |
ABQPV4449M |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
4.000 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.196 |
0.063 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
4.196 |
0.163 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.641 |
1.356 |
|
|
TOTAL BORROWING |
|
0.641 |
1.356 |
|
|
DEFERRED TAX LIABILITIES |
|
0.016 |
0.015 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.853 |
1.534 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.195 |
0.162 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
14.061 |
2.666 |
|
|
Cash & Bank Balances |
|
0.808 |
0.019 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.156 |
0.735 |
|
Total
Current Assets |
|
16.025 |
3.420 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
10.311 |
1.922 |
|
|
Other Current Liabilities |
|
1.020 |
0.128 |
|
|
Provisions |
|
0.048 |
0.014 |
|
Total
Current Liabilities |
|
11.379 |
2.064 |
|
|
Net Current Assets |
|
4.646 |
1.356 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.012 |
0.016 |
|
|
|
|
|
|
|
|
TOTAL |
|
4.853 |
1.534 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
48.562 |
46.527 |
|
|
|
Job Work |
|
0.133 |
0.184 |
|
|
|
Other Income |
|
0.064 |
0.000 |
|
|
|
TOTAL (A) |
|
48.759 |
46.711 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
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|
|
|
|
|
TOTAL (B) |
|
48.322 |
46.559 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.437 |
0.152 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.155 |
0.017 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.282 |
0.135 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.090 |
0.042 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
0.192 |
0.093 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.059 |
0.029 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
0.133 |
0.064 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.33 |
6.40 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
0.27 |
0.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.40 |
0.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.18 |
2.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.05 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.87 |
21.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.41 |
1.66 |
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 |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
------- |
|
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 |
No |
|
13. Reasons for variation <> 20% |
No |
|
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 |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
------ |
OPERATION AND
PROSPECTS:
The company has
achieved turnover (Gross Receipt) of Rs. 48.759 Millions during the current
year. The company has earned profit of Rs. 0.437 million before providing depreciation
and interest and earned net profit of Rs. 0.192 million which is remarkable as
compare to the previous year. The directors are trying to further improve the
performance of the company in terms of turnover and profitability. The
prospects of the company’s business are bright and positive.
SHARE CAPITAL AND
LOAN FUNDS
Total Authorized Share Capital of the company was increased by Rs. 3.900
Millions as on 25th March, 2011. Thus Total Authorized Capital of
the Company is Rs. 4.000 Millions dividend into 400000 Equity Shares of Rs.
10/- each. The Company has issued total shares of Rs. 3.900 Millions as on 31st
March, 2011, so the total Paid up Share Capital of the Company is Rs. 4.000
Millions dividend into 400000 Equity shares of Rs. 10/- each at now. The
company has borrowed Rs. 0.641 Million by way of Unsecured Loans from
Directors, Shareholders and Relatives of Directors.
FORM 8
|
Corporate
identity number of the company |
U23209GJ2009PTC057015 |
|
Name of the
company |
STALLION ENERGY PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
929-930, Star Plaza, Near Circuit House, Phulchhab Chowk, Rajkot-360001, Gujarat, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Karnataka Bank Limited, Rajkot Branch, Kalawad Road, Rajkot-360005, Gujarat, India |
|
Nature of
instrument creating charge |
Hypothecation of stock
and Book Debts, Accepted Bills of Exchange/ Goods covered under Export Bills. |
|
Date of
instrument Creating the charge |
03.10.2011 |
|
Amount secured by
the charge |
Rs. 16.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest - Over Draft :BR
+ 5.50%=16.50%(present base rate being 11.00 %) - For Pre
Shipment and Post Shipment rates as per sanction letter attached herewith. Terms of repayment Over Draft of Rs.
16.000 Millions and Pre Shipment Credit of Rs. 16.000 millions and Post
Shipment Credit of Rs. 16.000 millions Maximum Rs. 16.000 millions - For Over Draft on Demand/ as OD Rules, For
Pre Shipment Credit By way of Post Shipment/ Export Bill Realization, For
Post Shipment Credit By way of Export Bill Realization Margin Stock and Book
Debt 25% and Export Bills under cover goods 25% Extent and operation of the charge The charge by way
of hypothecation secures the repayment of aggregate credit facility of Rs.
16.000 millions together with interest, cost etc. Other As per sanction
letter and documents executed from time to time |
|
Short particulars
of the property charged (Including location of the property) |
Over Draft and
Pre-shipment : Hypothecation of Stocks and Book Debts Post shipment:
Accepted Bills of Exchange/ Goods covered under Export Bills. |
FIXED ASSETS
v
Air Conditioner
v
Fax Machine
v
Furniture and Fixtures
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. 49.21 |
|
|
1 |
Rs. 77.75 |
|
Euro |
1 |
Rs. 64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.