MIRA
INFORM REPORT
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Report Date : |
17.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHARMASONS SAKOVA INSTRUMENTS PRIVATE LIMITED
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Registered
Office : |
KK-61, Kavi Nagar, Industrial Area, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.05.1972 |
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Com. Reg. No.: |
20-003543 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.381 Million |
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CIN No.: [Company Identification
No.] |
u65910up1972ptc003543 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
mrts01376E |
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PAN No.: [Permanent Account No.] |
AADCS2396H |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacturer and Exporter of Insulation Testing Equipments, Earth
Tester Equipments, etc |
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No. of Employees
: |
12 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
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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 1000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having moderate track record. It’s scale of
activities are limited. Trade relations are reported to be fair. Business is
active. Payments are reported to be slow. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
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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. Satish |
|
Designation : |
Director |
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Contact No.: |
91-9312247177 |
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Date : |
14.07.2012 |
LOCATIONS
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Registered Office : |
KK-61, Kavi Nagar, Industrial Area, Ghaziabad – 201 002, Uttar
Pradesh, India |
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Tel. No.: |
91-120-2700090 |
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Mobile No.: |
91-9312247177 (Mr. Satish) |
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Fax No.: |
91-120-2702041 |
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E-Mail : |
sakovas@yahoo.com |
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Location : |
Owned |
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Factory : |
Plot No. E-175, Sector 17, Kavi Industrial Area, |
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Tel. No.: |
91-120-2702041 |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Satish Sharma |
|
Designation : |
Director |
|
Address : |
KK-61, Kavi Nagar, Industrial Area, |
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Date of Birth/Age : |
15.04.1941 |
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Qualification : |
Graduate |
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Date of Appointment : |
11.05.1972 |
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DIN No.: |
00365699 |
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Name : |
Mrs. Vineeta Shamrao |
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Designation : |
Director |
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Address : |
KK-61, Kavi Nagar, Industrial Area, |
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Date of Birth/Age : |
15.04.1945 |
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Date of Appointment : |
16.01.1989 |
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DIN No.: |
00365657 |
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Name : |
Mr. manish Sharma |
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Designation : |
Director |
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Address : |
KK-61, Kavi Nagar, Industrial Area, |
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Date of Birth/Age : |
22.07.1967 |
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Date of Appointment : |
30.11.1985 |
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DIN No.: |
00365739 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
Satish Sharma |
1910 |
|
Vineeta Sharma |
500 |
|
Ashish Sharma |
10 |
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Manish Sharma |
960 |
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Anish Sharma |
10 |
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Satish Sharma (HUF) |
410 |
|
Neeru Sharma |
10 |
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TOTAL
|
3810 |
AS ON 29.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
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TOTAL |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Insulation Testing Equipments, Earth
Tester Equipments, etc |
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Products : |
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Exports : |
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Countries : |
·
Saudi Arabia ·
Middle East Countries |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
PRODUCTION STATUS (AS ON : 31.03.2011)
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Particulars |
Unit |
Quantity
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Installed
Capacity |
Pcs. |
4000 |
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Actual Production |
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Oil Test Set |
In Nos. |
28 |
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Earth Tester |
In Nos. |
6 |
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Insulation Tester |
In Nos. |
27 |
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HV Breakdown Tester |
In Nos. |
11 |
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Relay Test Set |
In Nos. |
15 |
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Contact Resistance Test Set |
In Nos. |
5 |
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C.B. Timer |
In Nos. |
2 |
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Primary Injection Test Kit |
In Nos. |
3 |
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Test Bench |
In Nos. |
11 |
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Others |
In Nos. |
23 |
GENERAL INFORMATION
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Customers : |
End Users ·
C and S Electric Limited ·
Schneider Electric Limited |
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No. of Employees : |
12 (Approximately) |
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Bankers : |
·
State Bank of India, Rasmeccc Industrial Estate,
Bulandshahar Road, Ghaziabad-201001, Uttar Pradesh, India ·
Canara Bank, Maliwara Chowk, Ghaziabaad, Uttar
Pradesh, India |
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Facilities : |
Canara Bank Over Draft Limit Rs. 0.500 Million |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P jain and company Chartered Accountants |
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Address : |
6, Navyug Market, |
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PAN No.: |
AABFP6159J |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
3810 |
Equity Shares |
Rs.100/-
each |
Rs. 0.381
Million |
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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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1] Share Capital |
0.381 |
0.381 |
0.381 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.117 |
0.098 |
0.096 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.498 |
0.479 |
0.477 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.296 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.296 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.498 |
0.479 |
0.773 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.078 |
0.068 |
0.081 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.003 |
0.003 |
0.003 |
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DEFERREX TAX ASSETS |
0.070 |
0.077 |
0.065 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
0.677
|
0.705 |
0.650
|
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Sundry Debtors |
0.733
|
0.487 |
0.413
|
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Cash & Bank Balances |
0.166
|
0.097 |
0.111
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
0.055
|
0.048 |
0.071
|
|
Total
Current Assets |
1.631
|
1.337 |
1.245 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
0.877
|
0.727 |
0.374 |
|
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Other Current Liabilities |
0.195
|
0.034 |
0.014
|
|
|
Provisions |
0.212
|
0.245 |
0.233
|
|
Total
Current Liabilities |
1.284
|
1.006 |
0.621 |
|
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Net Current Assets |
0.347
|
0.331 |
0.624
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
0.498 |
0.479 |
0.773 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
4.505 |
3.526 |
4.287 |
|
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Other Income |
0.017 |
0.037 |
0.060 |
|
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TOTAL |
4.522 |
3.563 |
4.347 |
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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 |
4.476 |
3.543 |
4.289 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.046 |
0.020 |
0.058 |
|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.014 |
0.014 |
0.023 |
|
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|
PROFIT BEFORE
TAX |
0.032 |
0.006 |
0.035 |
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Less |
TAX |
0.013 |
0.004 |
0.032 |
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PROFIT AFTER TAX
|
0.019 |
0.002 |
0.003 |
|
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Less |
Excess Provision
of Income Tax/FBT of earlier year |
0.000 |
0.000 |
(0.002) |
|
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|
Income Tax for
Earlier Year |
0.000 |
0.000 |
0.002 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.027 |
0.025 |
0.022 |
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BALANCE CARRIED
TO THE B/S |
0.046 |
0.027 |
0.025 |
|
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|
Earnings Per
Share (Rs.) |
5 |
1 |
-- |
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|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
5.000 |
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|
Expected Sales (2012-2013) : Rs. 6.000 Millions
The above information has been parted by Mr. Satish.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.42
|
0.06 |
0.07 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
0.71
|
0.17 |
0.82 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.80
|
0.40 |
2.52 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.01 |
0.07 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.58
|
2.10 |
1.92 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.33 |
2.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
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 |
No |
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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 |
No |
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17. Major suppliers |
No |
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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 |
SALES AND OTHER
CHARGES
In the year their sales are Rs. 4.505 Millions as compared to Rs.3.526
Millions of previous year. The income from calibration charges is Rs. 0.015
million as compared Rs. 0.036 Million in previous year.
FORM 8
|
Corporate identity
number of the company |
U65910UP1972PTC003543 |
|
Name of the
company |
SHARMASONS SAKOVA
INSTRUMENTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
KK-61, Kavi Nagar, Industrial Area, Ghaziabad – 201 002, Uttar Pradesh |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
State Bank of India, Rasmeccc Industrial Estate, Bulandshahar Road, Ghaziabad-201001, Uttar Pradesh, India |
|
Nature of
instrument creating charge |
1. Agreement of
Loan cum Hypothecation (SME-2) 2.
Letter of Arrangement (SME-1) |
|
Date of instrument
Creating the charge |
10.02.2011 |
|
Amount secured by
the charge |
Rs. 0.550 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest to be charged
@ 5.00% margin above Base Rate. Present effective rate 13.00% p.a. with
monthly rests or at such other rate(s) as may be notified by the Bank to the
Borrower from time to time. Terms of repayment Working Capital -
Repayable on demand. Margin 20% on Raw
Material-Indigenous/Imported 20% on Semi
Finished Goods 20% on Finished
Goods 25% on Bank
Guarantee Extent and operation of the charge The Company's
assets as mentioned hereunder are hypothecated to secure following credit
facilities aggregating to Rs.0.550 Million granted by the Bank to the
Borrower:- 1.Cash
Credit Rs. 0.450 Million 2. Bank
Guarantee Rs. 0.100 Million
------------------- TOTAL Rs. 0.550 Million ------------------- |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
all present and future stocks of raw materials such as electrical
instruments, vehicles and all other movable assets of the Borrower wherever
lying, stored, kept or in transit. Hypothecation of
all the Borrower's book debts, receivables, documents of title to goods,
outstanding monies, bills, invoices, documents, contracts, guarantee,
securities, engagements, investments and rights etc. Hypothecation of
all present and future machinery belonging to or in the possession or control
of the Borrower wherever lying, stored, kept or in transit. |
TRADE REFERENCES
·
C and S Electric Limited
·
Schneider Electric Limited
FIXED ASSETS
· Leasehold Land
· Building
· Plant and Machinery
· Office Equipments
· Computer
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] 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. 54.91 |
|
|
1 |
Rs. 85.46 |
|
Euro |
1 |
Rs. 67.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.