MIRA
INFORM REPORT
|
Report Date : |
28.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
LUBGRAF SYNOILS PRIVATE LIMITED |
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Registered
Office : |
599/7 Kalyan NIvaso/S |
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Country : |
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Financials (as on)
: |
31.03.2011 |
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Date of
Incorporation : |
17.10.1995 |
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Com. Reg. No.: |
04- 027853 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U23209GJ1995PTC027853 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading and Manufacturing of Speciality lubricants and Chemicals |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
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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 31000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record.
Profitability of the company appears to be low. However, trade relations are reported
to be fair. Business is active. Payments are reported to be slow but correct. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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
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Registered Office : |
599/7 Kalyan NIvaso/S |
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Tel. No.: |
91-79- 25840726 |
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Fax No.: |
91-79- 25840726 |
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E-Mail : |
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Marketing and Works : |
2011/A, GIDC, Pahse –IV, Vatva, Ahmedabad – 382445, |
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Tel. No.: |
91-79-40085726/40085727 91-79-40085728 91-79-25840726/25841912 |
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Fax No.: |
91-79-40085728 91-79-25840726/25841912 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Chimanbhai Babaldas Patel |
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Designation : |
Director |
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Address : |
13, Gyankunj Society, Near Punit Ashram, Ahmedabad – 380008, |
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Date of Birth/Age : |
01.09.1939 |
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Date of Appointment : |
17.10.1995 |
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Din No.: |
01072715 |
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Name : |
Mr. Asitkumar Chimanlal Patel |
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Designation : |
Director |
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Address : |
13, Gyankunj Society, Near Punit Ashram, Ahmedabad – 380008, |
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Date of Birth/Age : |
21.03.1969 |
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Date of Appointment : |
17.10.1995 |
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Din No.: |
02000975 |
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Name : |
Mr. Harenkumar Chimanlal Patel |
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Designation : |
Director |
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Address : |
13, Gyankunj Society, Near Punit Ashram, Ahmedabad – 380008, |
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Date of Birth/Age : |
14.03.1965 |
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Date of Appointment : |
17.10.1995 |
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Din No.: |
02033898 |
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Other Directorship:
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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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Harenkumar Chimanlal Patel |
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150 |
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Chimanbhai Babaldas Patel |
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600 |
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Asitkumar Chimanlal Patel |
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150 |
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Kashmira Harenkumar Patel |
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19 |
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Daniben Chimanbhai Patel |
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50 |
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Pallvi Aist Patel |
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19 |
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Chimanbhai Babaldas Patel (HUF) |
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1 |
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Asitkumar Chimanlal Patel (HUF) |
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1 |
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Harenkumar Chimanlal Patel (HUF) |
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1 |
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Kaushik Rasiklal Dhruv |
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9 |
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Total |
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1000 |
As on 30.09.2011
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading and Manufacturing of Speciality lubricants and Chemicals |
GENERAL INFORMATION
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Bankers : |
·
Amco Bank ·
Ahmedabad Mercantile Co- Operative Bank ·
Citi Bank |
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Facilities : |
Rs.
In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vinod M. Shah Chartered Accountant |
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Address : |
Vinodchandra and Company 46, Lad Society, Vastrapur, Ahmedabad –
380015, |
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Pan No.: |
ACWTS4784R |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Share |
Rs.100/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000 |
Equity Share |
Rs.10/- each |
Rs.0.100
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.573 |
5.163 |
3.197 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.673 |
5.263 |
3.297 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.166 |
0.000 |
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2] Unsecured Loans |
6.106 |
3.178 |
2.927 |
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TOTAL BORROWING |
6.106 |
3.344 |
2.927 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.779 |
8.607 |
6.224 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.322 |
2.307 |
2.119 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.010 |
0.010 |
0.010 |
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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 |
3.435
|
2.756 |
1.221 |
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Sundry Debtors |
6.398
|
4.156 |
3.106 |
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Cash & Bank Balances |
0.910
|
0.816 |
1.167 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.910
|
0.551 |
0.368 |
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Total
Current Assets |
11.653
|
8.279 |
5.862 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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|
0.987 |
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Other Current Liabilities |
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Provisions |
1.100
|
0.950 |
0.780 |
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Total
Current Liabilities |
3.206
|
1.989 |
1.767 |
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Net Current Assets |
8.447
|
6.290 |
4.095 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.779 |
8.607 |
6.224 |
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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 |
26.391 |
15.930 |
12.775 |
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Other Income |
0.000 |
0.037 |
0.030 |
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TOTAL (A) |
NA |
15.967 |
12.805 |
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Less |
EXPENSES |
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|
10.152 |
8.075 |
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Payment to and Provision for Employees and Directors |
|
1.086 |
0.734 |
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Manufacturing Trading and Other Expenses |
|
1.205 |
0.996 |
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TOTAL (B) |
NA |
12.443 |
9.805 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
3.524 |
3.000 |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
0.303 |
0.565 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
3.221 |
2.435 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
0.241 |
0.219 |
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PROFIT BEFORE
TAX (E-F) (G) |
3.560 |
2.980 |
2.216 |
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Less |
TAX (I) |
NA |
1.014 |
0.779 |
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PROFIT AFTER TAX
(G-I) (J) |
NA |
1.966 |
1.437 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
3.196 |
1.760 |
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BALANCE CARRIED
TO THE B/S |
NA |
5.162 |
3.197 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA |
12.31 |
11.22 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
13.48 |
18.71 |
17.35 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
20.97 |
28.15 |
27.77 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.46 |
0.57 |
0.67 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.21 |
1.01 |
1.42 |
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Current Ratio (Current Asset/Current Liability) |
|
3.63 |
4.16 |
3.32 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
|
Promoters
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 |
- |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
PAN of
Proprietor/Partner/Director, if available |
No |
|
Passport No of
Proprietor/Partner/Director, if available |
No |
|
Voter ID No of
Proprietor/Partner/Director, if available |
No |
FINANCIAL RESULTS:
Operational activities of the company during
the year resulted in profit of Rs.3.560 Millions as compared to previous year
Profit Rs.2.979 Millions Before tax
Company has set up a plant for manufacturing
various types of Lubricants, sales in increased to Rs.26.391 as compared to
Rs.15.930 Millions previous year. However profit margin has also improved to
quality product timely purchased of Raw Material.
They are pleased to inform you that company is
ISO 9001: and this status is continued after periodical audit
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electric Fitting
·
Furniture
·
Office Equipment
·
Lab Instrument
·
Computer
·
Vehicle Scooter
·
Motor Car
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.55.41 |
|
|
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
32 |
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.