MIRA
INFORM REPORT
|
Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHAKTI HITECH COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
54-A, SMIE, Phase - II, Opposite YMCA, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.10.2001 |
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Com. Reg. No.: |
05-034759 |
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Capital
Investment / Paid-up Capital : |
Rs.2.834 Millions |
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CIN No.: [Company Identification
No.] |
U18101HR2001PTC034759 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer
of Pressure Die Cast Components duly machined and assembled. |
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No. of Employees
: |
45 (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 |
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Maximum Credit Limit : |
USD 63000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 dealing 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) |
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|
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
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 DECLINED
Management Non- Cooperative (91-129-2222182)
LOCATIONS
|
Registered Office/ Factory : |
54-A, SMIE, Phase - II, Opposite YMCA, |
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Tel. No.: |
91-129-4003403/ 2222182/4035069/5222182 |
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Fax No.: |
91-129-4006403 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ashish Rajkumar Rathi |
|
Designation : |
Director |
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Address : |
302, |
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Date of Birth/Age : |
03.03.1981 |
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Date of Appointment : |
20.11.2001 |
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DIN No.: |
01284297 |
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Name : |
Mr. Manish Rathi |
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Designation : |
Director |
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Address : |
H. No.79, Sector – 8, |
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Date of Birth/Age : |
01.11.1980 |
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Date of Appointment : |
03.10.2001 |
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DIN No.: |
01284230 |
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Name : |
Mr. Suresh Anant Rathi |
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Designation : |
Director |
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Address : |
H. No.79, Sector – 8, |
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Date of Birth/Age : |
16.12.1957 |
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Date of Appointment : |
14.05.2008 |
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DIN No.: |
02184750 |
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Name : |
Mr. Raj Kumar Anant Lal Rathi |
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Designation : |
Director |
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Address : |
H. No.7, Sector – 4 R, |
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Date of Birth/Age : |
26.06.1955 |
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Date of Appointment : |
14.05.2008 |
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DIN No.: |
02171840 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ashish Rathi |
|
103750 |
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Manish Rathi |
|
112850 |
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Abha Rathi |
|
100 |
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Chitra Rathi |
|
100 |
|
Raj Kumar Rathi |
|
100 |
|
Raj Kumar Rathi (HUF) |
|
100 |
|
Rekha Rathi |
|
100 |
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Suresh Rathi |
|
100 |
|
Suresh Rathi (HUF) |
|
100 |
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Swati Jajoo |
|
100 |
|
Umesh Rathi |
|
66000 |
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|
|
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Total |
|
283400 |
As on 31.03.2012
|
Names of Allotees |
|
No. of Shares |
|
New Millennium Consultants Private Limited, India |
|
1875 |
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White Collar Management Services Private Limited, India |
|
1250 |
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Khatwang Traders (Private) Limited, India |
|
2500 |
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Bhavya Aluminum Private Limited, India |
|
1250 |
|
Purus Builders Private Limited, India |
|
2500 |
|
Soft indigo Software Private Limited, India |
|
1875 |
|
|
|
|
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Total |
|
11250 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Pressure Die Cast Components duly machined and assembled. |
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Product: |
Basket
Holder Assembly, Rocker Cover Assembly, S.T. Inserts / T. Nut |
GENERAL INFORMATION
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No. of Employees : |
45 (Approximately) |
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Bankers : |
· State Bank of Commerce · Oriental Bank of Commerce, Sector – 7, Sihi Branch, Faridabad – 121 004, Haryana, India · Citi Bank N.A ·
ICICI Bank Limited |
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Facilities : |
(Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Madhu Sudan Ladha Chartered Accountants |
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Address : |
Plot No. 8 Block - I Sector-10, DLF
(Opposite Civil Court) |
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Tel: |
91-1295035064/5035069 |
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PAN.: |
AADFP3610N |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
294650 |
Equity Shares |
Rs.10/- each |
Rs.2.947
Millions |
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As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
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|
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|
283400 |
Equity Shares |
Rs.10/- each |
Rs.2.834
Millions |
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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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|
|
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1] Share Capital |
2.834 |
2.834 |
2.834 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
12.918 |
11.681 |
10.512 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.752 |
14.515 |
13.346 |
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LOAN FUNDS |
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1] Secured Loans |
8.449 |
1.583 |
4.460 |
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2] Unsecured Loans |
5.913 |
3.761 |
1.118 |
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TOTAL BORROWING |
14.362 |
5.344 |
5.578 |
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DEFERRED TAX LIABILITIES |
0.787 |
0.290 |
0.329 |
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TOTAL |
30.901 |
20.149 |
19.253 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.915 |
11.677 |
11.064 |
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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 |
2.574
|
2.398
|
1.648
|
|
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Sundry Debtors |
17.926
|
13.459
|
11.332
|
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Cash & Bank Balances |
0.572
|
0.305
|
0.097
|
|
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Other Current Assets |
0.025
|
0.025
|
0.091
|
|
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Loans & Advances |
4.686
|
3.734
|
3.244
|
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Total
Current Assets |
25.783
|
19.921
|
16.412 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
11.699
|
10.330
|
5.423
|
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Other Current Liabilities |
0.697
|
0.588
|
0.620
|
|
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Provisions |
0.401
|
0.531
|
2.188
|
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Total
Current Liabilities |
12.797
|
11.449
|
8.231 |
|
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Net Current Assets |
12.986
|
8.472
|
8.181
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.008 |
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TOTAL |
30.901 |
20.149 |
19.253 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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|
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TOTAL |
114.644 |
81.737 |
99.330 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
109.765 |
78.256 |
97.101 (Including
Depreciation) |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.879 |
3.481 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
2.739 |
1.885 |
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PROFIT BEFORE
TAX |
2.140 |
1.596 |
2.229 |
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Less |
TAX |
0.898 |
0.427 |
0.920 |
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PROFIT AFTER TAX
|
1.242 |
1.169 |
1.309 |
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|
Earnings Per
Share (Rs.) |
7.55 |
5.63 |
4.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.52
|
1.30
|
1.32
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.30
|
8.01
|
13.58
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.11
|
0.17
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.72
|
1.16
|
1.03
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
1.74
|
1.99
|
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) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
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5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 |
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15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
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18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
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 |
OPERATION
During the period, the company has earned interest
of Rs.Nil/-, Total Profit before Tax is Rs.2.140 Millions profit after Tax is
Rs.1.242 Millions. The Directors are hopeful to get more business in the next
period.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U18101HR2001PTC034759 |
|
Name of the company |
SHAKTI HITECH
COMPONENTS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
54-A, SMIE, Phase - II, Opposite YMCA, Mathura Road, Faridabad – 121
006, Haryana, India E-Mail: madhu@msladhaandco.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the
charge to be modified |
80037507 |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of charge holder |
Oriental Bank of Commerce, Sector – 7, Sihi Branch, Faridabad – 121
004, Haryana, India E-Mail: cakkminocha@gmail.com |
|
Nature of instrument creating charge |
Supplemental
Agreement to Secure Credit/ Loan Facilities Dt. 27/03/2012. |
|
Date of instrument Creating the charge |
27.03.2012 |
|
Amount secured by the charge |
Rs.8.000
Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Rate of Interest: @ 5% over Base Rate with minimum @ 15.75% p.a on
monthly rests subject to change linked with Base Rate/ RBI Guidelines. Penal Rate of Interest: 2% over and above the Normal Rate. Terms of Repayment On Demand Margin Margin: 25%. Extent and Operation of the charge Hypothecation of Stock of Raw Material, Stock in Process and Finished Goods
of the Company. Hypothecation of all the Book Debts of the Company. Hypothecation of other Current Assets of the Company. Hypothecation of all Plant and Machinery both Present and Future of
the Company. |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Hypothecation of
Stock of Raw Material, Stock in Process and Finished Goods of the Company. Hypothecation of
all the Book Debts of the Company. Hypothecation of
other Current Assets of the Company. Hypothecation of
all Plant and Machinery both Present and Future of the Company. |
|
Date of instrument modifying the charge |
07.12.2010 |
|
Particulars of the present modification |
Limit of Amount Secured
enhanced from Rs. 6.000 Millions to Rs. 8.000 Millions. Rate of
Interest: @ 5% over Base Rate with minimum @ 15.75% p.a on monthly rests
subject to change linked with Base Rate/ RBI Guidelines. Penal Rate of
Interest: 2% over and above the Normal Rate. |
FIXED ASSETS:
·
Machinery
·
Furniture
·
Electric Installation
·
Dies and Tools
·
M.80 Mopped
·
Tata Indica
·
Tube Well
·
Computer
·
Scooter
·
Gen Set
·
Factory Equipment
·
Maruti Zen
·
Office Equipment
·
Lab Equipment
·
Fax Machine
·
Weghing Scale
·
Air Conditioner
·
Fans
·
Light Lift Table
·
Car Innova
·
Car Maruti Swift
·
Car Optra
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.56.30 |
|
|
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
KVT |
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.