MIRA
INFORM REPORT
|
Report Date : |
31.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHIVANI POLY URETHANE AND CHEMICALS PRIVATE LIMITED |
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Registered Office : |
18/ 6 and 18/ 7, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
19.03.1997 |
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Com. Reg. No.: |
55-085977 |
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Capital Investment
/ Paid-up Capital : |
Rs.7.500 Millions |
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CIN No.: [Company
Identification No.] |
U24134DL1997PTC085977 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS11371D |
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PAN No.: [Permanent
Account No.] |
AABCS3370F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Pigments, Lacquers, Releasing agents and P.U Soles. |
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No. of Employees
: |
62 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 60000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are 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) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Raghav |
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Designation : |
Director |
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Contact No.: |
91-9871065489 |
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Date : |
21.01.2012 |
LOCATIONS
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Registered Office / Factory 1 : |
18/ 6 and 18/ 7, |
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Tel. No.: |
91-11-23947420 / 65904826 / 23946420 |
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Mobile No. : |
91-9871065489 [Mr. Raghav] |
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Fax No.: |
91-11-23946420 |
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E-Mail : |
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Website : |
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Area : |
1 Acre |
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Location : |
Owned |
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Factory 2 : |
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Tel. No.: |
91-130-2381411 / 2381412 |
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E-Mail : |
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Website: |
DIRECTORS
As on 30.09.2011
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Name : |
Ms. Shivani Aggarwal |
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Designation : |
Whole-time Director |
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Address : |
H. No. 9, |
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Date of Birth/Age : |
17.03.1984 |
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Date of Appointment : |
15.04.2002 |
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DIN : |
00394957 |
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Name : |
Mr. Raghav Aggarwal |
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Designation : |
Whole-time Director |
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Address : |
18/ 6 and 18/ 7, |
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Date of Birth/Age : |
27.07.1987 |
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Qualification : |
Chemical Engineers |
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Date of Appointment : |
27.07.2005 |
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DIN : |
00394999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Alka Aggarwal |
|
170000 |
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Raghav Aggarwal |
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430000 |
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Ravin Kumar Aggarwal HUF |
|
150000 |
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Total |
|
750000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pigments, Lacquers, Releasing agents and P.U Soles. |
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Products : |
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Terms : |
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Selling : |
Cash / Credit [30 Days] |
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Purchasing : |
Cash / Credit [30 Days] |
PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
Unit |
Installed
Capacity |
|
Chemicals |
Metric Ton |
900 |
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PU Soles |
In Pairs |
96000 |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
62 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
J P Chawla and Company Chartered Accountants |
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Address : |
43, Daryaganj, New Delhi-110002, |
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Tel. No.: |
91-11-23243456/23261010/23276542 |
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Fax No.: |
91-11-23289314 |
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PAN : |
AAAFJ2213J |
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E-Mail : |
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Website: |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
750,000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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750,000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
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Of the above 200000 equity shares of Rs. 10/- each
fully paid up allotted for consideration other than cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
7.500 |
7.500 |
7.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.579 |
6.398 |
5.533 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.079 |
13.898 |
13.033 |
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LOAN FUNDS |
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1] Secured Loans |
25.436 |
12.985 |
10.113 |
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2] Unsecured Loans |
25.068 |
24.673 |
21.329 |
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TOTAL BORROWING |
50.504 |
37.658 |
31.442 |
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DEFERRED TAX LIABILITIES |
0.657 |
0.812 |
1.108 |
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TOTAL |
66.240 |
52.368 |
45.583 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.909 |
21.917 |
24.713 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
22.549
|
14.041
|
14.033 |
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Sundry Debtors |
44.372
|
30.679
|
17.021 |
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Cash & Bank Balances |
0.223
|
1.094
|
0.167 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
7.827
|
6.932
|
5.192 |
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Total
Current Assets |
74.971
|
52.746
|
36.413 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
22.922
|
16.853
|
7.971 |
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Other Current Liabilities |
1.417
|
0.967
|
4.154 |
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Provisions |
5.301
|
4.475
|
3.418 |
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Total
Current Liabilities |
29.640
|
22.295
|
15.543 |
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Net Current Assets |
45.331
|
30.451
|
20.870 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
66.240 |
52.368 |
45.583 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
124.668 |
92.273 |
68.755 |
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Other Income |
0.019 |
0.093 |
0.002 |
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TOTAL |
124.687 |
92.366 |
68.757 |
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Less |
EXPENSES |
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Administrative Expenses |
119.050 |
87.051 |
64.244 |
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Advertising Expenses |
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Financial Expenses |
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TOTAL |
119.050 |
87.051 |
64.244 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.637 |
5.315 |
4.513 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
3.896 |
3.884 |
3.472 |
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PROFIT BEFORE
TAX |
1.741 |
1.431 |
1.041 |
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Less |
TAX |
0.560 |
0.567 |
0.556 |
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PROFIT AFTER TAX
|
1.181 |
0.864 |
0.485 |
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IMPORTS - Goods for
Processing / Resale |
0.000 |
0.878 |
0.744 |
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Earnings Per
Share (Rs.) |
1.58 |
1.15 |
0.65 |
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Expected Sales (2011-2012) : Rs.200.000 millions
The above information has been parted by Mr. Raghav [Director]
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.95
|
0.93
|
0.71 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.40
|
1.55
|
1.51 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.81
|
1.92
|
1.70 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.10
|
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.31
|
4.31
|
3.60 |
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Current Ratio (Current Asset/Current Liability) |
|
2.53
|
2.37
|
2.34 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report [Yes/No] |
|
Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Construction of the firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoters background |
- |
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No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of contact
person |
Yes |
|
Turnover of firm for last
two years |
Yes |
|
Profitability for last three
years |
No |
|
Reasons for variation
<> 20% |
- |
|
Estimation for coming
financial year |
Yes |
|
Capital the business |
No |
|
Details of sister
concerns |
- |
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Major Suppliers |
No |
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Major Customers |
No |
|
Payment Terms |
Yes |
|
Export / Import Details
[If Applicable] |
No |
|
Market Information |
- |
|
Litigations that the firm
/ promoter involved in |
- |
|
Banking Details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the banking
account |
- |
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Buyer visit details |
- |
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Financials, if provided |
No |
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Incorporation details, if
applicable |
- |
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Last accounts filed at
ROC |
- |
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Major Shareholders, if
applicable |
- |
OPERATIONS
The Company is engaged
in manufacturing of Pigments, Lacquers, Releasing agents and P.U Soles. The
company during the year has achieved a turnover of Rs.124.668 millions
(Previous Year Rs. 92.273 millions).
FUTURE PROSPECTS
The directors are
of the opinion that Company will continue with the same strategies ahead, but
with more aggressiveness for the year 2011-12.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24134DL1997PTC085977 |
|
Name of the
company |
SHIVANI POLY URETHANE
AND CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
18/6 and 18/7, |
|
This form is for |
Modification of charge
|
|
Charge
identification (ID) number of the charge to be modified |
10223725 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
The Royal Bank of |
|
Nature of
instrument creating charge |
Supplemental deed
of hypothecation of movable assets |
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Date of instrument
Creating the charge |
10.03.2011 |
|
Amount secured by
the charge |
Rs.23.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Interest at such rate as may be prescribed by the bank from time to time Terms of
Repayment - On demand Margin - As per
sanction terms Extent and
Operation of the charge - The charge operates as security as exclusive first
charge in favour of bank Others - This is to
secure the fund and non fund based limit aggregating Rs. 23 millions
sanctioned to the company |
|
Date of
instrument modifying the charge |
08.06.2010 |
|
Particulars of
the present modification |
The credit limit
sanctioned to company stands enhanced from Rs. 18 millions to Rs. 23
millions. |
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24134DL1997PTC085977 |
|
Name of the
company |
SHIVANI POLY URETHANE
AND CHEMICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
18/ 6 and 18/ 7, |
|
Type of charge |
Book Debts Others |
|
Particular of
charge holder |
The Royal Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation on Movable Assets dated 08.06.2010 |
|
Date of
instrument Creating the charge |
08.06.2010 |
|
Amount secured by
the charge |
Rs.18.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest / such
other rate as may be prescribed by the bank from time to time. Terms of
Repayment As per Sanction
terms of the facilities sanctioned. Margin The company shall
maintain such margin as may be specified by the bank from time to time. Extent and
Operation of the charge 100 % |
|
Short particulars
of the property charged |
First Exclusive
Charge on Borrower's entire Current Assets including book debts/ receivables
both present and future. |
Fixed Assets:
- Goodwill
- Plant and Machinery
- Computer
- Furniture and Fixture
- Car
- Intercom
- Refrigerator
- Air Conditioner
- Electric Installation
- Fittings and Fans
- Generators
- Typewriter
- Fax Machine
- Scooter
- Motor Cycle
- Electrical Equipments
- Truck
- Television
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.49.50 |
|
|
1 |
Rs.77.73 |
|
Euro |
1 |
Rs.65.18 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.