|
Report Date : |
27.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHACHI ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Asmita Apartment, 60 Mayur Colony, Kothrud, Pune – 411 038,
Maharashtra. |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.04.2000 |
|
|
|
|
Com. Reg. No.: |
25 – 014798 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 5.912 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909PN2000PTC014798 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES15607E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS4742L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Process Equipments. |
|
|
|
|
No. of
Employees: |
50 (Approximately) |
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 71700 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. 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.
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 : |
Asmita Apartment, 60 Mayur Colony, Kothrud, Pune – 411 038,
Maharashtra, India |
|
Tel. No.: |
91-20-25433786/ 25469849 |
|
Fax No.: |
91-20-25433786 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
7, Brilliant Chambers, 84, Mayur Colony, Kothrud, Pune – 411 038, |
|
Tel. No.: |
91-20-25433780 |
|
Fax No.: |
91-20-25469849 |
|
Area : |
1200 Sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory : |
Gate No. 270/ 71, Survey No. 38, Bhare, Tiragud, Taluka – Mulshi, Pune
– 411 038, |
|
91-20-66546916 / 66546900 / 902 |
|
|
Fax No.: |
91-20-66546915 |
|
Area : |
2.5 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
(As on 30.09.2011)
|
Name : |
Mr. Marthu Subray Shanbhag |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 10 , S No. 10/ 129 / 130/ 131 , Mayur Colony, Pune – 411029,
Maharashtra, India |
|
Date of Birth/Age : |
06.04.1967 |
|
Qualification : |
Mechanical Engineer |
|
Experience : |
14 Years |
|
Mobile No: |
91-9822019088 / 9371026954 |
|
Date of Appointment : |
25.04.2000 |
|
DIN No: |
00740287 |
|
|
|
|
Name : |
Mr. Sunil Dattatraya Deo |
|
Designation : |
Director |
|
Address : |
5, Asmita Apartment, 60, Mayur Colony, Kothrud, Pune – 411 038, |
|
Date of Birth/Age : |
30.03.1943 |
|
Qualification : |
Civil Engineer |
|
Experience : |
38 Years |
|
Mobile No: |
91-9822206170 |
|
Date of Appointment : |
25.04.2000 |
|
DIN No: |
00593433 |
|
|
|
|
Name : |
Mrs. Suruchi Marthu Shanbhag |
|
Designation : |
Director |
|
Address : |
Flat No. 10 , S No. 10/ 129 / 130/ 131 , Mayur Colony, Pune – 411029,
Maharashtra, India |
|
Date of Birth/Age : |
31.08.1971 |
|
Qualification : |
Mechanical Engineer |
|
Experience : |
9 Years |
|
Mobile No: |
91-9371001054 |
|
Date of Appointment : |
25.04.2000 |
|
DIN No: |
00346376 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Equity Shares AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Marthu Subray Shanbhag |
352650 |
|
Suruchi Marthu Shanbhag |
220040 |
|
Sunil Dattatray Deo |
18510 |
|
Total |
591200 |
Preference Shares AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Nandi Manoj Agarwal |
1 |
|
Amrutlal Ramesh Jain |
1 |
|
Vipin B Thakur |
1 |
|
Vibha Rampunit Sharma |
1 |
|
Shah HUK Mchand |
1 |
|
HUK Mchand Shah and Brothers |
1 |
|
Sachin Sunil Deo |
1 |
|
Jitubhi Ladfaji Marwadi |
1 |
|
Kashiprasad Dalmiya (HUF) |
1 |
|
Sohanlal K Gumaniwal |
1 |
|
Kashiprasad Dalmia |
1 |
|
Ronak Agarwal |
1 |
|
Kamajit P Chudhari |
1 |
|
Deepak M Shah |
1 |
|
Lalit Sudhist Sharma |
1 |
|
Anilkumar Asuantbhai Maheriya |
1 |
|
Rajbala Indrakumar Agarwal |
1 |
|
Rajeshkumar Hagdi Shchandra Shah |
1 |
|
Sarita Gopal Goenka |
1 |
|
Shree Balaji Text Ilemills |
1 |
|
Shri Hanmanprasad Goenka |
1 |
|
Sulochadevi M Agarwal |
1 |
|
Yashodaben M Waldey |
1 |
|
Total |
23 |
(As on 30.09.2011)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
99099 |
|
Other top fifty shareholders |
|
0.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Process Equipments. |
||||
|
|
|
||||
|
Products : |
v Spray Dryers v Flash Dryers v Spin Flash Dryers v Conical Mixer / Nauta Mixer v On-Line Blender v Evaporators v Hot Air Generators v Zero Discharge Plant v Pilot Plant v Lab Plant v
Associated Systems |
GENERAL INFORMATION
|
No. of Employees : |
50 (Approximately) |
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Bankers : |
The Cosmos Co-operative Bank Limited, 269/270, Shaniwar Peth, Kothrud
Branch, Pune – 411 030, |
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gosavi Tadphale and Company Chartered Accountants |
|
Address : |
|
|
PAN No.: |
AABFG6836H |
|
|
|
|
Sister Concerns : |
Shachi Consultech Pune – 411 030, |
CAPITAL STRUCTURE
(As on 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
999,500 |
Equity shares |
Rs.10/- each |
Rs.9.995 millions |
|
500 |
Preference shares |
Rs.10/- each |
Rs.0.005 million |
|
|
Total |
|
Rs.10.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
591,200 |
Equity shares |
Rs.10/- each |
Rs.5.912
millions |
|
23 |
Preference shares |
Rs.10/- each |
0.000 |
|
|
Total |
|
Rs.5.912 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 |
5.912 |
5.912 |
4.312 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12.018 |
9.910 |
8.171 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
17.930 |
15.822 |
12.483 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
19.749 |
21.408 |
26.680 |
|
|
2] Unsecured Loans |
6.775 |
6.524 |
8.214 |
|
|
TOTAL BORROWING |
26.524 |
27.932 |
34.894 |
|
|
DEFERRED TAX LIABILITIES |
0.147 |
0.140 |
0.029 |
|
|
|
|
|
|
|
|
TOTAL |
44.601 |
43.894 |
47.406 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
37.807 |
39.648 |
39.500 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.340 |
0.340 |
0.231 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.477
|
17.504
|
4.993 |
|
|
Sundry Debtors |
14.579
|
13.944
|
10.068 |
|
|
Cash & Bank Balances |
0.086
|
0.113
|
0.017 |
|
|
Other Current Assets |
4.380
|
5.907
|
4.302 |
|
|
Loans & Advances |
1.405
|
0.266
|
0.163 |
|
Total
Current Assets |
31.927
|
37.734
|
19.543 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
14.648
|
14.152
|
6.932 |
|
|
Other Current Liabilities |
1.397
|
0.858
|
1.090 |
|
|
Provisions |
9.428
|
18.818
|
3.846 |
|
Total
Current Liabilities |
25.473
|
33.828
|
11.868 |
|
|
Net Current Assets |
6.454
|
3.906
|
7.675 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
44.601 |
43.894 |
47.406 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL INCOME
(A) |
91.643 |
55.583 |
51.771 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL EXPENSES
(B) |
84.571 |
48.960 |
44.818 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.072 |
6.623 |
6.952 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.880 |
3.950 |
4.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.192 |
2.673 |
2.919 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1.010 |
0.826 |
1.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2.182 |
1.847 |
1.897 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.910 |
8.171 |
6.341 |
|
|
|
|
|
|
|
|
|
Less |
Deferred Tax
Liability |
0.007 |
0.110 |
0.075 |
|
|
Less |
Short Provision
for Tax |
0.067 |
0.001 |
0.000 |
|
|
Add |
Excess Provision
for Tax |
0.000 |
0.000 |
0.009 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
12.018 |
9.908 |
8.172 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
3.474 |
0.970 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.67 |
3.64 |
4.57 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.38
|
3.32
|
3.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.58
|
3.45
|
3.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.17
|
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.90
|
3.90
|
3.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.11
|
1.65 |
LOCAL AGENCY FURTHER INFORMATION
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U31909PN2000PTC014798 |
|
Name of the
company |
SHACHI
ENGINEERING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Asmita Apartment, 60, Mayur Colony, Kothrud, Pune – 411 038, |
|
Type of charge |
Movable Property
(Not being Pledge) |
|
Particular of
charge holder |
The Cosmos Co-operative Bank Limited, 269/270, Shaniwar Peth, Kothrud
Branch, Pune – 411 030, |
|
Nature of description
of the instrument creating or modifying the charge |
Letter of
hypothecation of vehicle dated 26.06.2008 |
|
Date of
instrument Creating the charge |
26.06.2008 |
|
Amount secured by
the charge |
Rs. 0.629 Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
RATE OF INTEREST Interest: 13%
P.A. at present TERMS OF REPAYMENT Period: 47 Months
EMI: Rs.17149/- MARGIN Margin: 15% In
Bank's favour EXTENT AND OPERATION OF THE CHARGE The charge shall
continue to operate untill full repayment of loan by the Company OTHERS Facility: Vehicle
Loan |
|
Short particulars
of the property charged |
New Vehicle Star
City Ride (24+1) E-III LP410BV with Registration No. Mh-12eq-5645 manufactured
by Tata Motors Limited. As Particularly Described In Schedule A of the Letter
of Hypothecation of vehicle dated 26.06.2008 |
|
|
|
FIXED Assets:
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.49.07 |
|
|
1 |
Rs.77.19 |
|
Euro |
1 |
Rs.65.57 |
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 |
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 |
|
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.