MIRA
INFORM REPORT
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Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAGAR HEAVY ENGINEERING PRIVATE LIMITED |
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Registered Office
: |
# 419, Industrial Area – A, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
14.05.1986 |
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Com. Reg. No.: |
16-006856 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.300 Million |
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CIN No.: [Company Identification
No.] |
U28932PB1986PTC006856 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JLDS07065C |
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PAN No.: [Permanent Account No.] |
AAGCS8020B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Workshop Equipment Machine Tools. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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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 20000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. 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 caution.
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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
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Country Name |
Previous Rating (30.09.2011) |
Current Rating (31.12.2011) |
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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
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Name : |
Mr. Sandeep |
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Designation : |
Sales Department |
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Contact No.: |
91-9872904835 |
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Date : |
26.06.2012 |
LOCATIONS
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Registered Office/ Factory : |
# 419, Industrial Area – A, |
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Tel. No.: |
91-161-5025352 |
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Mobile No.: |
91-9914821506 (Mr. Gurtar Singh) |
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Fax No.: |
91-161-5025352 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. ft. |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Karpal Singh |
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Designation : |
Director |
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Address : |
80 L |
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Date of Birth/Age : |
04.04.1948 |
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Date of Appointment : |
14.05.1986 |
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DIN No.: |
01728935 |
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Name : |
Mr. Gurdeep Kaur Sagar |
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Designation : |
Director |
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Address : |
80 L |
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Date of Birth/Age : |
01.08.1952 |
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Date of Appointment : |
01.04.1987 |
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DIN No.: |
01730528 |
KEY EXECUTIVES
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Name : |
Mr. Sandeep |
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Designation : |
Sales Department |
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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Kirpal Singh |
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9000 |
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Gurdeep Kaur |
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19000 |
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Zorawar Singh |
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2000 |
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Total |
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30000 |
AS ON 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Workshop Equipment Machine Tools. |
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Exports : |
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Products : |
Workshop Equipment Machine Tools |
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Countries : |
·
· Gulf Countries ·
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
A. K. Engineering Works |
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Customers : |
Wholesalers, Retailers and End Users · Bharat Heavy Electricals Limited |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
UCO Bank, Miller Ganj, Ludhiana-141003, ·
HSBC Bank, ·
State Bank of ·
Axis Bank Limited, · HDFC Bank Limited |
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Facilities : |
CC – Rs. 2.400 Millions (UCO Bank)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sat Pal Sharma and Company Chartered Accountants |
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Address : |
44 GF Sant Isher Singh Nagar, |
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Income-tax
PAN of auditor or auditor's firm : |
AJSPS8895A |
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Associates/Subsidiaries : |
Sagar Mechtronics Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.300 Million |
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20000 |
Preferences Shares |
Rs. 10/- each |
Rs. 0.200 Million |
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Total |
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Rs. 0.500
Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.300 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.300 |
0.300 |
0.300 |
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2] Share Application Money |
0.060 |
0.060 |
0.060 |
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3] Reserves & Surplus |
4.651 |
4.283 |
4.114 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.011 |
4.643 |
4.474 |
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LOAN FUNDS |
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1] Secured Loans |
5.828 |
4.668 |
4.805 |
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2] Unsecured Loans |
1.105 |
0.736 |
0.755 |
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TOTAL BORROWING |
6.933 |
5.404 |
5.560 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
11.944 |
10.047 |
10.034 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.173 |
5.035 |
4.946 |
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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 |
2.631
|
5.640
|
4.529 |
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Sundry Debtors |
7.586
|
2.945
|
3.021 |
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Cash & Bank Balances |
0.656
|
1.937
|
2.939 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
0.740
|
0.647
|
0.553 |
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Total
Current Assets |
11.613
|
11.169
|
11.042 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.316
|
1.620
|
1.954 |
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Other Current Liabilities |
2.526
|
4.537
|
4.000 |
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Provisions |
0.000
|
0.000
|
0.000 |
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Total
Current Liabilities |
5.842
|
6.157
|
5.954 |
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Net Current Assets |
5.771
|
5.012
|
5.088 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
11.944 |
10.047 |
10.034 |
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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 |
27.796 |
11.100 |
14.618 |
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Other Income |
0.002 |
0.010 |
0.017 |
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TOTAL |
27.798 |
11.110 |
14.635 |
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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 |
27.430 |
10.940 |
14.458 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.368 |
0.170 |
0.177 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.249 |
0.131 |
0.133 |
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PROFIT BEFORE
TAX |
0.119 |
0.039 |
0.044 |
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Less |
TAX |
0.000 |
0.000 |
0.000 |
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PROFIT AFTER TAX |
0.119 |
0.039 |
0.044 |
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Earnings Per
Share (Rs.) |
3.97 |
1.30 |
1.47 |
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Particulars |
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|
31.03.2012 |
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Sales Turnover (Approximately) |
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|
32.000 |
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Expected Sales (2012-2013) : Rs. 36.000 Millions
The above information has been parted by Mr. Sandeep (Sales Department)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.43 |
0.35 |
0.30 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.43 |
0.35 |
0.30 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.67 |
0.06 |
0.04 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.01 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.55 |
2.49
|
2.57 |
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Current Ratio (Current Asset/Current Liability) |
|
1.99 |
1.81
|
1.85 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report
(Yes / No) |
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1. Year of Establishment |
Yes |
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2. Locality of the firm |
Yes |
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3. Constructions of the firm |
Yes |
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4. Premises details |
Yes |
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5. Type of Business |
Yes |
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6. Line of Business |
Yes |
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7. Promoter’s background |
Yes |
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8. No. of Employees |
Yes |
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9. Name of person contacted |
Yes |
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10. Designation of contact person |
Yes |
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11. Turnover of firm for last three years |
Yes |
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12. Profitability for last three years |
Yes |
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13. Reasons for variation <> 20% |
-- |
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14. Estimation for coming financial year |
Yes |
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15. Capital in the business |
Yes |
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16. Details of sister concerns |
Yes |
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17. Major suppliers |
Yes |
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18. Major customers |
Yes |
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19. Payments terms |
Yes |
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20. Export / Import details |
Yes |
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21. Market information |
-- |
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22. Litigations that the firm / promoter involved |
-- |
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23. Banking Details |
Yes |
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24. Banking facility details |
Yes |
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25. Conduct of the banking account |
-- |
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26. Buyer visit details |
-- |
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27. Financials, if provided |
Yes |
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28. Incorporation details, if applicable |
Yes |
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29. Last accounts filed at ROC |
Yes |
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30. Major Shareholders, if available |
Yes |
OPERATION
During the Year, the sales turnover of the company has increased to Rs.
27.796 Millions as compared to previous years figure of Rs. 11.099 Millions. The
company earned net profit of Rs. 0.119 Million. The company has paid bank
interest and bank charges to Rs. 0.842 Million during the year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U28932PB1986PTC006856 |
|
Name of the
company |
SAGAR HEAVY
ENGINEERING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
# 419, Industrial Area – A, |
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified |
80036459 |
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Type of charge |
Movable Property |
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Particular of
charge holder |
UCO Bank, Miller
Ganj, Email ID: rajesh_kumarpcs@yahoo.com
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Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
Goods to secure a demand cash credit |
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Date of
instrument Creating the charge |
03.03.2009 |
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Amount secured by
the charge |
Rs. 4.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the rate
of 1% per annum below the BPLR subject to minimum of 12% per annum with
monthly rest. Terms of Repayment On Demand Margin 25% Extent and Operation of the charge 100% |
|
Short particulars
of the property charged |
All kinds of stocks,
pigirons, castic iron, special steel, gun metal, electrical goods, machine
tools, vertical machine, special pump or machine and all other articles,
goods, stocks and moveable property of any kind whatsoever which now or
hereafter from time to time during this security shall be brought into stored
or to be in or about the borrower's premises and godowns, open space,
factories etc including in particular such stock stored at 419, Industrial
Area A, Ludhiana. |
|
Date of latest
modification prior to the present modification |
18.07.2007 |
|
Particulars of
the present modification |
The Bank has
granted to the borrower by way of cash credit facility to the extent of Rs
1.400 Millions and the repayment
thereon with interest, cost, charges and expenses has been secured by the
deed of hypothecation dated 28th December, 2005 and modified by supplement
deed of hypothecation dated 18.07.2007 and 03.03.2009 and limit has been
increased to Rs 2.400 Millions and Now
increased to Rs 0.450 Millions
respectively |
TRADE REFERENCES:
· Bharat Heavy Electricals Limited
· A. K. Engineering Works
FIXED ASSETS:
·
Air Conditioner
·
Bicycles
·
Building
·
Motor Car
·
Computer
·
Fans
·
Furniture
·
Generator
·
Hand Pump
·
Inverter
·
Mobile Cell Phone
·
Pager and Fax
·
Plant and Machinery
·
Tools
·
Scooter
·
Fire Extinguisher
·
Pattern
·
TV Set
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 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. 54.55 |
|
|
1 |
Rs. 85.48 |
|
Euro |
1 |
Rs. 68.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
YES |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.