|
Report Date : |
28.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHAVLAJI ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-901, Shraddha Building, Behind Gurudwara, Shastri Nagar, Goregaon
(West), Mumbai – 400 104, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.08.1999 |
|
|
|
|
Com. Reg. No.: |
11-121279 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.140
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299MH1999PTC121279 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES23341D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS1702B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Supplier of Welding Electrode. |
|
|
|
|
No. of Employees
: |
16 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a relatively small company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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.
INFORMATION PARTED BY
|
Name : |
Mr. Vasudev Shyamsunder Modani |
|
Designation : |
Director |
|
Contact No.: |
91-9322655768 |
|
Date : |
23.02.2012 |
LOCATIONS
|
Registered Office : |
B-901, Shraddha Building, Behind Gurudwara, Shastri Nagar, Goregaon
(West), Mumbai – 400 104, |
|
Tel. No.: |
91-22-28775797 |
|
Mobile No.: |
91-9322655768 (Mr. Vasudev Shyamsunder Modani) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No.599 and 602, Thane – 401 207, |
DIRECTORS
As on 30.09.2011
|
Name : |
Mrs. Rajeshwari Vasudev Modani |
|
Designation : |
Director |
|
Address : |
504, |
|
Date of Birth/Age : |
14.01.1966 |
|
Date of Appointment : |
13.08.1999 |
|
DIN No.: |
01626582 |
|
|
|
|
Name : |
Mr. Vasudev Shyamsunder Modani |
|
Designation : |
Director |
|
Address : |
504, |
|
Date of Birth/Age : |
01.10.1964 |
|
Date of Appointment : |
15.03.2004 |
|
DIN No.: |
01329488 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rajeshwari Modani |
|
1000 |
|
Kamlesh Laddha |
|
1000 |
|
Govind Modani |
|
1000 |
|
Omprakash Modani |
|
1000 |
|
Bhanwarlal Modani |
|
1000 |
|
Vasudev Modani |
|
1000 |
|
Jamunadevi Modani |
|
1000 |
|
Murlidhar Modani |
|
1000 |
|
Pushpadevi Modani |
|
1000 |
|
Vasudev Modani HUF |
|
5000 |
|
Total |
|
14000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Welding Electrode. |
|
|
|
|
Products : |
Welding Rods |
|
|
|
|
Terms : |
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|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production Qty.
|
|
Welding Rods |
Pkt. |
103529 |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
16 (Approximately) |
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Bankers : |
v
Bank of v Indian Bank,
Dattatrayra Shopping Centre, Navghar,
Vasai Road (West), Thane – 401 202, Maharashtra, India |
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Facilities : |
|
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mukesh Doshi and Company Chartered Accountants |
|
Address : |
145, |
|
Tel. No.: |
91-22-22012328 |
|
Income-tax
PAN of auditor or auditor's firm : |
AEIPD1795F |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14000 |
Equity Shares |
Rs.10/- each |
Rs.0.140
million |
|
|
|
|
|
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 |
0.140 |
0.140 |
0.140 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.013 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.315) |
0.000 |
(0.055) |
|
|
NETWORTH |
(0.175) |
0.153 |
0.085 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
2.303 |
1.980 |
|
|
2] Unsecured Loans |
12.309 |
7.383 |
6.587 |
|
|
TOTAL BORROWING |
12.309 |
9.686 |
8.567 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12.134 |
9.839 |
8.652 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.924 |
7.445 |
2.573 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
2.823 |
3.250 |
|
|
Sundry Debtors |
5.915
|
4.308 |
3.151 |
|
|
Cash & Bank Balances |
0.137
|
1.008 |
0.171 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.433
|
0.238 |
0.193 |
|
Total
Current Assets |
7.485
|
8.377 |
6.765 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.144 |
3.257 |
0.404 |
|
|
Other Current Liabilities |
0.123
|
2.712 |
0.274 |
|
|
Provisions |
0.008
|
0.014 |
0.008 |
|
Total
Current Liabilities |
0.275
|
5.983 |
0.686 |
|
|
Net Current Assets |
7.210
|
2.394 |
6.079 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12.134 |
9.839 |
8.652 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
SALES |
18.900 |
24.400 |
17.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.113 |
0.724 |
0.202 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.433 |
0.643 |
0.249 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(0.320) |
0.081 |
(0.047) |
|
|
|
|
|
|
|
Less |
TAX |
0.008 |
0.014 |
0.009 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(0.328) |
0.067 |
(0.056) |
|
|
|
|
|
|
|
Less: |
Income Tax for Earlier Years |
0.000 |
0.000 |
0.004 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.012 |
(0.055) |
0.005 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(0.316) |
0.012 |
(0.055) |
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(23.43) |
4.79 |
(4.00) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.69)
|
0.33 |
(0.27) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.58)
|
0.42 |
(0.50)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.83
|
0.53 |
(0.55)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(71.91)
|
102.41 |
108.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
27.22
|
1.40 |
9.86 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
0.144 |
3.257 |
0.404 |
|
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 |
-- |
|
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 |
No |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
-- |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
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 |
-- |
Note:
The registered office of the company has been shifted from 504, Salasar Avenue Fatak Road, Near Nagar Bhavan, Bhayander (West), Thane – 401 101, Maharashtra to Plot No.33, Municipal Industrial Estate, Umela Phata, Papdy, Vasai (West), Vasai – 401 207, Maharashtra w.e.f. 11.01.2010.
The registered office has again shifted from Plot No.33, Municipal Industrial Estate, Umela Phata, Papdy, Vasai (West), Vasai – 401 207, Maharashtra to the present address.
SALES AND PERFORMANCE:
Sales during the year are Rs.18.900 millions.
In the current year company expects good performance on the sales side.
FROM 8:
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90152273 |
|
Corporate
identity number of the company |
U29299MH1999PTC121279 |
|
Name of the
company |
SHAVLAJI ENGINEERING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
504, |
|
Type of charge |
Immovable
Property Book Debts Movable Property
(not being pledge) |
|
Particular of charge
holder |
Indian Bank,
Dattatrayra Shopping Centre, Navghar, |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
Open Cash Credit (Stocks/ Book Debts) |
|
Date of
instrument Creating the charge |
15.09.2008 |
|
Amount secured by
the charge |
Rs.2.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 13.50% p.a. at
monthly rest Terms of
Repayment: On Demand Margin: 15% Extent and
Operation of the charge: Open Cash Credit (stocks/Book debts) limit of Rs.2.000
millions for the purpose of facilitating to the Company towards Working
Capital needs against the security by way of First Charge on Company's
present and future goods, produce and merchandise, book debts, outstanding
monies, recoverable claims, bills, contracts, engagements securities,
investments, rights and assets. |
|
Short particulars
of the property charged |
1. Goods,
produce, merchandise, stocks stored or to be stored from time to time in premises
at Plot No.33, Municipal Industrial Estate, Umela Phata, Papdy, Vasai (West),
Thane – 401 207 and book debts, outstanding monies, recoverable claims. 2. Equitable
Mortgage of Units No. 2, 3, 4, 5 and 6 at Ground Floor, Neminath Industrial
Estate No.6, Village Navghar, Takluka Vasai, District - Thane. |
|
Date of latest
modification prior to the present modification |
05.02.2008 |
|
Particulars of
the present modification |
The present limit
of Open Cash Credit facility of Rs.1.500 millions granted by the Bank has
been increased to Rs.2.000 millions at the interest rate of BPLR-05% i.e.
13.50% p.a. |
FIXED ASSETS:
v Machinery
v Factory Premises
v Electric Fittings
v Furniture
v Water Purifier
v Laboratory Equipment
v Computer
v 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.49.05 |
|
|
1 |
Rs.77.77 |
|
Euro |
1 |
Rs.65.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
14 |
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.