MIRA
INFORM REPORT
|
Report Date : |
30.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUJAL LOGISTICS PRIVATE LIMITED |
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Registered
Office : |
C/O Vaisal
Enterprises, 23, Hotel |
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Country : |
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Financials (as
on) : |
31.03.2011 (Consolidated) |
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Date of
Incorporation : |
15.09.2004 |
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Com. Reg. No.: |
04-044737 |
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Capital
Investment / Paid-up Capital : |
Rs.1.732
Millions |
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CIN No.: [Company Identification
No.] |
U63090GJ2004PTC044737 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS04265C |
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PAN No.: [Permanent Account No.] |
APPLIEDFOR |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Salt, Marine Gypsum, Phospho Gypsum, Coal etc. |
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No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 30000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track. It is progressing steadily. However, 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 – 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.
INFORMATION PARTED BY
|
Name : |
Mr. Manoj Manilal Maheshwari |
|
Designation : |
Director |
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Contact No.: |
91-9825071379 |
|
Date : |
26.07.2012 |
LOCATIONS
|
Registered Office : |
C/O Vaisal
Enterprises, 23, Hotel |
|
Tel. No.: |
91-2642-230430/ 226959/ 291430 |
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Mobile No.: |
91-9825071379 (Mr. Manoj Maheshwari) |
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Fax No.: |
91-2642-231179/ 230430 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office : |
Located at: v
Dahej, |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Manoj Manilal Maheshwari |
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Designation : |
Director |
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Address : |
P-40, Atithi Bunglows, |
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Date of Birth/Age : |
12.11.1971 |
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Date of Appointment : |
15.09.2004 |
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DIN No : |
00197627 |
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Voter ID No.: |
ADF2366730 |
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Name : |
Mrs. Preeti Manoj Maheshwari |
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Designation : |
Director |
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Address : |
P-40, Atithi Bunglows, |
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Date of Birth/Age : |
18.09.1974 |
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Date of Appointment : |
15.09.2004 |
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DIN No : |
00813353 |
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Voter ID No.: |
ADF2366748 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Manoj M. Maheshwari |
|
89700 |
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Preeti M. Maheshwari |
|
33500 |
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Manilal Maheshwari |
|
25000 |
|
Shantaben Maheshwari |
|
25000 |
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Total |
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173200 |
As on 30.09.2011
|
Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Salt, Marine Gypsum, Phospho Gypsum, Coal etc. |
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Products/ Services : |
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Imports : |
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Products : |
Mineral Gypsum |
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Countries : |
v
v
v
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Terms : |
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Selling : |
L/C, Advance/ TT |
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Purchasing : |
L/C, Advance/ TT |
GENERAL INFORMATION
|
Suppliers : |
v
Hindalco Industries
Limited v Aditya Birla Group |
||||||||||||||||||||||||||||||||||||
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Customers : |
OEM’s and Cement Industries v
ACC Limited v
Ambuja Cement Limited v
Lafarge India Private Limited |
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No. of Employees : |
45 (Approximately) |
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Bankers : |
v
State Bank of v
Centurion Bank of Punjab, 5th Floor,
National Plaza, R.C. Dutt Road, Alkapuri, Baroda – 390 007, Gujarat, India v
Barclays Bank v
Oriental Bank of Commerce |
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Facilities : |
Cash Credit – Rs.14.000 millions (State Bank of
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dhiraj S Agrawal and Company Chartered Accountants |
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Address : |
Office No.8, 2nd Floor, Shree Rang Palace, |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFD5639R |
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Associates/Subsidiaries : |
Vatsal
Enterprises Address: C/O Vaisal Enterprises, 23, Hotel Line of Business: Trader of Salt, Gypsum, Coal. |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
173200 |
Equity Shares |
Rs.10/- each |
Rs.1.732
Millions |
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Notes: Out of with 13200 Equity shares of
Rs.10/- each issued in consideration of acquisition of Vatsal Enterprises a
proprietory concern of the Director.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET (CONSOLIDATED)
|
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 |
1.732 |
1.732 |
0.232 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.754 |
4.261 |
2.553 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.486 |
5.993 |
2.785 |
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LOAN FUNDS |
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1] Secured Loans |
15.021 |
15.223 |
12.135 |
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2] Unsecured Loans |
0.408 |
0.408 |
0.408 |
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TOTAL BORROWING |
15.429 |
15.631 |
12.543 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
22.915 |
21.624 |
15.328 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.779 |
7.264 |
4.798 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.481 |
0.481 |
0.481 |
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DEFERRED TAX ASSETS |
0.091 |
0.088 |
0.064 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
6.050
|
1.838
|
0.673 |
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Sundry Debtors |
15.057
|
24.871
|
10.672 |
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Cash & Bank Balances |
2.582
|
0.761
|
0.379 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
7.033
|
5.335
|
4.097 |
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Total
Current Assets |
30.722
|
32.805 |
15.821 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
14.051
|
17.590
|
5.039 |
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Other Current Liabilities |
0.370
|
0.584
|
0.326 |
|
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Provisions |
0.737
|
0.840
|
0.471 |
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Total
Current Liabilities |
15.158
|
19.014 |
5.836 |
|
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Net Current Assets |
15.564
|
13.791
|
9.985 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
22.915 |
21.624 |
15.328 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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|
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Sales Turnover |
22.827 |
38.750 |
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Transport Income |
75.587 |
61.985 |
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Other Income |
NA |
0.059 |
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TOTAL (A) |
NA |
100.794 |
53.919 |
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Less |
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Office Expenses |
NA |
95.983 |
52.721 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
NA |
95.983 |
52.721 (including
interest and depreciation) |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.085 |
4.811 |
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Less |
INTEREST (D) |
2.106 |
1.849 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.979 |
2.962 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.692 |
0.406 |
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PROFIT BEFORE
TAX (E-F) (G) |
2.287 |
2.556 |
1.198 |
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Less |
TAX (H) |
0.734 |
0.817 |
0.411 |
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PROFIT AFTER TAX
(G-H) (I) |
1.553 |
1.739 |
0.787 |
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|
Less |
Earlier year tax adjustments |
0.060 |
0.031 |
NA |
|
|
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Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
3.480 |
1.772 |
NA |
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|
BALANCE CARRIED
TO THE B/S |
4.973 |
3.480 |
NA |
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|
|
|
Earnings Per
Share (Rs.) |
8.97 |
10.04 |
33.91 |
|
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Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
150.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.200.000 millions
The above information has been parted by Mr. Manoj Manilal Maheshwari
(Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
1.73 |
1.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.02
|
6.60
|
NA |
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.10
|
6.38
|
5.81 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.43
|
0.43 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
4.09
|
5.78
|
6.60 |
|
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|
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.03
|
1.73
|
2.71 |
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 |
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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 |
|
11) Turnover of firm for last three years |
Yes |
|
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 |
|
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 |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
|
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 |
|
31) PAN of Proprietor/Partner/Director, if available |
No |
|
32) Passport No of Proprietor/Partner/Director, if available |
No |
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33) Voter ID No of Proprietor/Partner/Director, if available |
Yes |
OPERATION:
The Company has
earned Transport Income of Rs.75.587 millions during the year, as compared with
61.985 millions during the immediate preceding previous year. There is
resultant increase in gross receipts by 21.95%. The company has also achieved
the sales turnover of Rs.22.827 millions during the year, as compared with
Rs.38.750 millions during the immediate preceding previous year. There is
resultant decrease in gross receipts by 41.09%. The director views a better
prospect during the up coming years.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U63090GJ2004PTC044737 |
|
Name of the
company |
SUJAL LOGISTICS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C/O Vaisal Enterprises, 23, Hotel E-Mail: vatsal@narmada.net.in |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10113039 |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
State Bank of E-Mail: prabhat_k@sbi.co.in |
|
Nature of
instrument creating charge |
Supplemental
Agreement of Loan cum Hypothecation |
|
Date of
instrument Creating the charge |
03.01.2011 |
|
Amount secured by
the charge |
Rs.17.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 6.50% above SBBR Terms of repayment On demand Margin Cash Credit – RM-
Indigenous, Semi finished goods – 25%, Domestic receivables – 50%, B G -25% Extent and operation of the charge The credit
facilities are secured by way of hypothecation of stocks in trade and book
debts and receivables lying / situate at C/o Vaishal Enterprises, Hotel Sabar
Compound, N.H. No.8, Near Narmada Chokdi, Bharuch or anywhere else. Other Credit facilities
– Cash Credit – Rs.14.000 millions + Bank Guarantee – Rs.3.000 millions
aggregating to Rs.17.000 millions. |
|
Short particulars
of the property charged (Including location of the property) |
The credit
facilities are secured by way of hypothecation of stocks in trade and book debts
and receivables lying / situate at C/o Vaishal Enterprises, Hotel Sabar
Compound, N.H. No.8, Near Narmada Chokdi, Bharuch or anywhere else. |
|
Date of
instrument modifying the charge |
28.10.2010 |
|
Particulars of
the present modification |
By this execution
the charge extended to cover revised credit facilities from Rs. 15.000
millions to Rs.17.000 millions (Cash Credit – Rs.14.000 millions + Bank
Guarantee – Rs.3.000 millions aggregating to Rs.17.000 millions) |
TRADE REFERENCES:
v
ACC Limited
v
Ambuja Cement Limited
v
Lafarge India Private Limited
v
Hindalco Industries
Limited
v Aditya Birla Group
FIXED ASSETS
v
Air Conditioners
v
Air Cooler
v
Electrical Installation
v
Telephone Instruments
v
Fire Fitter
v
Sukam
v
JCB Loader GJ 16 AF 9282
v
Furniture and Fixture
v
Motor Cycle
v
Tractor with Lodder
v
Hyndai Verna
v
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] 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
|
Information Gathered
by : |
SBA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.