|
Report Date : |
18.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SPARKLET ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
17, R. K. Industry House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.03.2000 |
|
|
|
|
Com. Reg. No.: |
11-124853 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29240MH2000PTC124853 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS27571F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Oil and Gas Equipments. |
|
|
|
|
No. of Employees
: |
200 [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 |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 dealings 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Esther |
|
Designation : |
Incharge of Marketing |
|
Contact No.: |
91-251-2620231 |
|
Date : |
16.07.2012 |
LOCATIONS
|
Registered Office : |
17, R. K. Industry House, Walbhat Road, Goregaon (East),
Mumbai-400063, Maharashtra, India |
|
Tel. No.: |
91-22-26851159 / 66992259 / 66992260 |
|
Fax No.: |
91-22-26853256 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
A-87B, Addition Ambarnath, Industrial Area, Anand Nagar, Amberanth
(East), Thane-421506, Maharashtra, India
|
|
|
|
|
Factory 2 : |
B-54, Addition Ambarnath, Industrial Area, Anand Nagar, Amberanth
(East), Thane-421506, Maharashtra, India
|
DIRECTORS
As on 02.08.2011
|
Name : |
Mr. Ranabrata Bhaveshchandra Ghosh |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
A/01, Shruti, Yashodham, Goregaon (East), Mumbai-400063, Maharashtra,
India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
06.08.1939 |
||||||||||||||||||||||||
|
Date of Appointment : |
13.03.2000 |
||||||||||||||||||||||||
|
Din No.: |
00249674 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mrs. Devikarani Ranabrata Ghosh |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
A/01, Shruti, Yashodham, Goregaon (East), Mumbai-400063, Maharashtra,
India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
03.04.1944 |
||||||||||||||||||||||||
|
Date of Appointment : |
13.03.2000 |
||||||||||||||||||||||||
|
Din No.: |
00249709 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Shukanto Ranabrata Ghosh |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
601, Valentine Tower, Pimpri Pad Film City Road, Malad (East),
Mumbai-400097, Maharashtra, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
15.03.1970 |
||||||||||||||||||||||||
|
Date of Appointment : |
13.03.2000 |
||||||||||||||||||||||||
|
Din No.: |
02385277 |
||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Esther |
|
Designation : |
Incharge of Marketing |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ranabrata Bhaveshchandra Ghosh |
|
36300 |
|
Devikarani Ranabrata Ghosh |
|
6850 |
|
Shukanto Ranabrata Ghosh |
|
7850 |
|
Sharmila Shukanto Ghosh |
|
500 |
|
Debjani Ranabrata Ghosh |
|
500 |
|
Devikarni Ghosh and Shukanto Ghosh |
|
14000 |
|
ShukantoGhosh and Devikarani Ghosh |
|
14000 |
|
Degas Financial Consultancy Private Limited, |
|
20000 |
|
|
|
|
|
Total |
|
100000 |
As on 02.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
200 [Approximately] |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited, Fort Branch, Universal
Insurance Building, Ground Floor, Sir P M Road, Fort, Mumbai-400001,
Maharashtra, India ·
State Bank of India, Industrial Finance Branch, S
V Road, Malad (West), Mumbai-400064, Maharashtra, India ·
Axis Ban Limited, Ground Floor, Axis House,
Bombay Dyeing Mills Compound, P B Marg, Worli, Mumbai-400025, Maharashtra,
India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Prakash Bakhda and Associates Chartered Accountant |
|
Address : |
3/4, Acme Shopping Arcade, Trikamdas Road, Kandivali (West), Mumbai-400067,
Maharashtra, India |
|
Pan No.: |
AAEPB9697A |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
10.000 |
7.500 |
|
|
2] Share Application Money |
2.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
40.223 |
22.791 |
13.357 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
52.223 |
32.791 |
20.857 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
65.090 |
58.241 |
27.721 |
|
|
2] Unsecured Loans |
25.618 |
28.131 |
19.950 |
|
|
TOTAL BORROWING |
90.708 |
86.372 |
47.671 |
|
|
DEFERRED TAX LIABILITIES |
4.843 |
3.446 |
2.216 |
|
|
|
|
|
|
|
|
TOTAL |
147.774 |
122.609 |
70.744 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
60.923 |
49.879 |
32.650 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.051
|
43.224
|
43.130 |
|
|
Sundry Debtors |
69.743
|
63.577
|
25.929 |
|
|
Cash & Bank Balances |
1.090
|
0.358
|
1.018 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
44.925
|
19.410
|
20.755 |
|
Total
Current Assets |
166.809
|
126.569
|
90.832 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
69.223
|
49.186
|
49.723 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
10.802
|
4.734
|
3.110 |
|
Total
Current Liabilities |
80.025
|
53.920
|
52.833 |
|
|
Net Current Assets |
86.784
|
72.649
|
37.999 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
PRELIMINARY EXPENSES |
0.067 |
0.081 |
0.095 |
|
|
TOTAL |
|
|
|
|
|
|
147.774 |
122.609 |
70.744 |
|
PROFIT & LOSS
ACCOUNT
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sales Turnover [Approximately] |
750.000 |
700.000 |
650.000 |
The above information has been parted by Mr. Esther.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.27
|
4.28 |
4.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08
|
2.35 |
1.72 |
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 |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10077301 |
|
Corporate
identity number of the company |
U29240MH2000PTC124853 |
|
Name of the
company |
SPARKLET
ENGINEERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
17, R. K. Industry House, Walbhat Road, Goregaon (East),
Mumbai-400063, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property Others |
|
Particular of
charge holder |
Axis Ban Limited, Ground Floor, Axis House, Bombay Dyeing Mills
Compound, P B Marg, Worli, Mumbai-400025, Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Link Agreement
dated 19.03.2012 |
|
Date of
instrument Creating the charge |
19.03.2012 |
|
Amount secured by
the charge |
Rs.186.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction
Letter No. AXIS/SME/MUMBAI-II/1151/2011-12 dated 09.12.11 and
AXISB/SME/MUMBAI-II/1466/11-12 dated 15.03.12 or another amendments thereto
or as stipulated by Bank from time to time. Terms of
Repayment As per Sanction
Letter No. AXIS/SME/MUMBAI-II/1151/2011-12 dated 09.12.11 and
AXISB/SME/MUMBAI-II/1466/11-12 dated 15.03.12 or another amendments thereto
or as stipulated by Bank from time to time. Margin As per Sanction
Letter No. AXIS/SME/MUMBAI-II/1151/2011-12 dated 09.12.11 and
AXISB/SME/MUMBAI-II/1466/11-12 dated 15.03.12 or another amendments thereto
or as stipulated by Bank from time to time. Extent and
Operation of the charge Facilities agg.
to Rs. 186.500 Millions are revised / realigned by bank by permitting One way
Interchangeability of Rs.40.000 Millions from EPC/PSC Limits to CC Limits,
One time PCFC Limits of USD 397620 (App. Rs.20.600 Millions) as Sublimit to
EPC/PSC Limits and One time Buyers Credit Limits of USD 12780 (App. Rs.6.700
Millions) as Sublimit to LOC Limit. Security given earlier shall be extended
and continued for revised / realigned Limits. Others Credit facilities
agg. to Rs.186.500 Millions in the form of CC Rs.20.000 Millions, LER
{sublimit to CC} Rs.10.000 Millions, EPC/PSC/FLCBD Rs.80.000 Millions, PCFC
{sublimit to EPC/PSC} Rs.20.600 Millions, BG Rs.50.000 Millions, LC Rs.20.000
Millions, Buyers Credit {sublimit to LC} Rs.6.700 Millions and WCTL Rs.16.500
Millions subject to one way interchangeability / sublimit as mentioned in (d)
herein above. |
|
Short particulars
of the property charged |
1st charge on all
present and future stocks of RM, SIP, FG, and other Current Assets
wheresoever situated. 1st charge on all
present and future book debts, outstanding money receivables, claims, bills,
etc. due and owing to the Co. during the course of its business 1st charge on P
and M, installations, and other accessories other than vehicles financed by
Kotak Mahendra Primus Limited and TML financial services Limited 1st charge on all
Immovable Property viz. Plot No. A-87/B, MIDC. Addl. Ambernath Industrial
Area, Anand Nagar, Ambernath (East) District Thane 1st charge on Immovable
Property of the Company, viz. Plot No.B-54 MIDC, addl. Ambernath Industrial
Area, Ambernath District Thane. |
|
Date of latest
modification prior to the present modification |
12.11.2011 |
|
Particulars of
the present modification |
Facilities agg.
to Rs. 186.500 Millions are revised / realigned by bank by permitting One way
Interchangeability of Rs.40.000 Millions from EPC/PSC Limits to CC Limits,
One time PCFC Limits of USD 397620 (App. Rs.20.600 Millions) as Sublimit to
EPC/PSC Limits and One time Buyers Credit Limits of USD 12780 (App. Rs.6.700
Millions) as Sublimit to LOC Limit. Security given earlier shall be extended
and continued for revised / realigned Limits. |
FIXED ASSETS
·
Delivery Tempo
·
Fax Machine
·
Furniture
·
Television
·
Machinery
·
Office Equipment
·
Computers
·
Water Cooler
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.55.15 |
|
|
1 |
Rs.86.30 |
|
Euro |
1 |
Rs.67.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
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.