|
Report Date : |
24.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SANEESA CHEMICALS AND EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-11, Sai Vihar II, Karve Nagar, Kothrud, Pune – 411052, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-130574 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299PN2007PTC130574 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES23055E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALCS0995A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Supplier of Automotive Coolants and Cleaners. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 36000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The
company has recorded an increase in its ales turnover and profits during
2011. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Agency Name |
Rating |
|
CRISIL |
B |
Rating Explanations
|
AAA (Highest Safety) |
Instruments with this rating
are considered to have the highest degree of safety regarding timely
servicing of financial obligations. Such instruments carry lowest credit
risk. |
|
AA (High Safety) |
Instruments with this
rating are considered to have high degree of safety regarding timely
servicing of financial obligations. Such instruments carry very low credit
risk. |
|
A (Adequate Safety) |
Instruments with this
rating are considered to have adequate degree of safety regarding timely servicing
of financial obligations. Such instruments carry low credit risk. |
|
BBB (Moderate Safety) |
Instruments with this
rating are considered to have moderate degree of safety regarding timely
servicing of financial obligations. Such instruments carry moderate credit
risk. |
|
BB (Moderate Risk) |
Instruments with this
rating are considered to have moderate risk of default regarding timely
servicing of financial obligations. |
|
B (High Risk) |
Instruments with this rating
are considered to have high risk of default regarding timely servicing of
financial obligations. |
|
C (Very High Risk) |
Instruments with this
rating are considered to have very high risk of default regarding timely servicing
of financial obligations. |
|
D (Default) |
Instruments with this
rating are in default or are expected to be in default soon. |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
B-11, Sai Vihar II, Karve Nagar, Kothrud, Pune – 411052, Maharashtra,
India |
|
Tel. No.: |
91-20-25459657 |
|
Mobile No.: |
91-9552591064 |
|
Fax No.: |
91-20-25424140 |
|
E-Mail : |
DIRECTORS
(AS ON 28.09.2011)
|
Name : |
Mr. Sushil Madhav Phansalkar |
|
Designation : |
Director |
|
Address : |
B-11, Sai Vihar – II, Karve Nagar, Kothrud, Pune – 411052,
Maharashtra, India |
|
Date of Birth/Age : |
10.07.1963 |
|
Date of Appointment : |
14.08.2007 |
|
DIN No.: |
01551688 |
|
|
|
|
Name : |
Mrs. Meenal Sushil Phansalkar |
|
Designation : |
Director |
|
Address : |
B-11, Sai Vihar – II, Karve Nagar, Kothrud, Pune – 411052,
Maharashtra, India |
|
Date of Birth/Age : |
19.11.1966 |
|
Date of Appointment : |
14.08.2007 |
|
DIN No.: |
01551749 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Patil |
|
Designation : |
Head of Business Development |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Sushil Madhav Phansalkar |
|
5000 |
|
Meenal Sushil Phansalkar |
|
5000 |
|
|
|
|
|
Total |
|
10000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Automotive Coolants and Cleaners. |
|
|
|
|
Products : |
· Car Radiator Coolant · Engine Radiator Coolant · Cooling Corrosion Inhibitor · Radiator Cleaner Compound · Car Wash Shampoo · Anti Rust Synthetic Cutting Fluid and Anti Freeze |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Cosmos Co-operative Bank Limited H.O.: 269/270
Shaniwar Peth, Pune – 411 030,Maharashtra, India · HDFC Bank · Kotak Mahindra Bank · Standard Chartered Bank |
||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
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||||||||||||||||||||||||||||||||||||||||||
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|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
G. C. Godbole and Company Chartered Accountant |
|
Address : |
765, Sadashiv Peth, Omkar Chambers, 4th Floor, Kumthekar
Road, Sweet Home Building, Pune – 411030, Maharashtra, India |
|
Tel No.: |
91-20-24432239 |
|
PAN No.: |
AFEPG2276F |
CAPITAL STRUCTURE
(AS ON 28.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.966 |
4.019 |
0.999 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9.066 |
4.119 |
1.099 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.734 |
0.000 |
0.868 |
|
|
2] Unsecured Loans |
0.003 |
0.000 |
2.687 |
|
|
TOTAL BORROWING |
2.737 |
0.000 |
3.555 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11.803 |
4.119 |
4.654 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.238 |
0.404 |
0.162 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.064 |
0.063 |
0.028 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.592
|
0.576 |
0.690 |
|
|
Sundry Debtors |
18.205
|
12.490 |
9.619 |
|
|
Cash & Bank Balances |
0.435
|
1.501 |
0.099 |
|
|
Other Current Assets |
2.481
|
4.461 |
0.126 |
|
|
Loans & Advances |
5.822
|
0.962 |
0.000 |
|
Total
Current Assets |
27.535
|
19.990 |
10.534 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
8.834
|
8.050 |
1.430 |
|
|
Other Current Liabilities |
1.224
|
1.647 |
1.226 |
|
|
Provisions |
7.987
|
6.655 |
3.429 |
|
Total
Current Liabilities |
18.045
|
16.352 |
6.085 |
|
|
Net Current Assets |
9.490
|
3.638 |
4.449 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.011 |
0.014 |
0.015 |
|
|
|
|
|
|
|
|
TOTAL |
11.803 |
4.119 |
4.654 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
Turnover |
87.023 |
61.054 |
21.013 |
|
|
|
|
|
|
|
|
Total Costs |
79.775 |
56.419 |
19.067 |
|
|
|
|
|
|
|
|
Profit Before
Tax |
7.247 |
4.635 |
1.947 |
|
|
|
|
|
|
|
|
Provision for
Tax |
-- |
1.587 |
0.517 |
|
|
|
|
|
|
|
|
Net Profit |
-- |
3.020 |
1.430 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
-- |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
8.33
|
7.59 |
9.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.34
|
22.73 |
18.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.80
|
1.13 |
1.77 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.29
|
3.97 |
8.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.22 |
1.73 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10146860 |
|
Corporate
identity number of the company |
U24299PN2007PTC130574 |
|
Name of the
company |
SANEESA CHEMICALS
AND EQUIPMENTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
B-11, Sai Vihar
II, Karve Nagar, Kothrud, Pune – 411052, Maharashtra, India |
|
Type of charge |
Book Debts Floating Charge Others: 25% Cash
Margin |
|
Particular of
charge holder |
The Cosmos
Co-Operative Bank Limited (Ganesh Nagar Branch) 269/270, Shaniwar
Peth, Pune – 411030, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation of stock, book debts and machinery dated 13th
December, 2011 |
|
Date of
instrument Creating the charge |
13/12/2011 |
|
Amount secured by
the charge |
Rs.6.000 Millions
|
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Cash Credit
(Rs.2.500 Millions): Presently 13.50% P. A Bank Guarantee
(Rs.1.000 Million): Commission : As per bank rules Terms of
Repayment Cash Credit
(Rs.2.500 Millions): On Demand/ Review within 12 months Bank Guarantee
(Rs.1.000 Million): As per BG terms/ review within 12 months Margin Cash Credit
(Rs.2.500 Millions): 25% in Banks favour Bank Guarantee
(Rs.1.000 Million): 25% in Banks favour Extent and
Operation of the charge The charge shall
continue to operate till full repayment of the facilities enjoyed by the
company Others Facilities: Existing Cash Credit
Limit of Rs.2.500 Millions is now enhanced by additional limit of Rs.2.500
Millions thereby making total facility of Rs.5.000 Millions for purpose of
working capital Bank guarantee of
Rs.1.000 Millions for purpose of working capital |
|
Short particulars
of the property charged |
All Stock in
trade, Raw Materials, Semi-Manufactured and Manufactured Goods, Finished
Goods at s. No. 213/5, Wasgaon Warehouse, Near IBM Computers Bhekrai Nagar,
Pune or any other place of business in India. All present and
future book debts, outstanding moneys, receivables, claims, bills chooses in
action, contracts, engagements and securities of the company at its
registered office. |
|
Date of latest
modification prior to the present modification |
19/03/2010 |
|
Particulars of
the present modification |
Existing Cash
Credit Limit of Rs.2.500 Millions is now enhanced by additional limit of
Rs.2.500 Millions thereby making total cash credit facility of Rs.5.000
Millions and new facility of bank guarantee of Rs.1.000 Million is given and
thus the total charge stands to Rs.6.000 Millions. |
FIXED ASSETS:
· Pumps
· Computer
· Lab Equipments
· Storage Tank
· Video Camera
· Weighting Scale
· D M Plant
· Furniture and Fixture
· Air Conditioner
· Fan
· Laptop
· Motor Vehicle Yamaha
· Printer
· Tools and Equipments
· Tally Software
· Mobile
· Monitor
· Digital Camera
·
Chairs
·
Air 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 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.55.76 |
|
|
1 |
Rs.86.80 |
|
Euro |
1 |
Rs.67.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
43 |
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.