|
Report Date : |
01.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAKSHAM POLYTEC PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.410 and 411, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
26.05.2008 |
|
|
|
|
Com. Reg. No.: |
01-059341 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24130AP2008PTC059341 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Packaging Material |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The company
has not filed its financial with the government department since year 2009. However,
trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some
cautions. Profit and loss account is not available. |
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 |
|
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. Tumul Rathi |
|
Designation : |
Director |
|
Contact No.: |
91-957309969 |
|
Date : |
29.05.2012 |
LOCATIONS
|
Registered Office / Factory: |
Survey No.410 and 411, Magdoompally Village Road, Bibinagar, District Nalgonda-508126,
Andhra Pradesh, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-957309969 (Mr. Tumul Rathi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3 acers |
|
Location : |
Owned |
|
|
|
|
Sales Office : |
BANGALORE 209, Gitanjali Pride-II, 5th Main, 5th Cross,
MAllesh Palya-560075, Bengaluru, India
GUJARAT 206, C, Saakar Co-Operative Housing Society, Near Ghatkoper Sweets,
Chharwada Road, Vapi-396195, District Valsad, Gujarat, India |
DIRECTORS
AS ON 31.03.2009
|
Name : |
Mr. Tumul Rathi |
|
Designation : |
Director |
|
Address : |
6-3-347/11, Flat No.502, Lalithanjali Sai Baba Temple Road,
Dwarakapuri Colony, Punjagutta, Hyderabad-500082, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.05.1980 |
|
Date of Appointment : |
26.05.2008 |
|
DIN No.: |
00108352 |
|
|
|
|
Name : |
Mr. Shashikanth Agarwal |
|
Designation : |
Director |
|
Address : |
201, 2nd Floor, Sona Bhan Residency, Nallagutta, M G Road, Secendrabad-500003,
Andhra Pradesh, India |
|
Date of Birth/Age : |
04.01.1969 |
|
Date of Appointment : |
26.05.2008 |
|
DIN No.: |
02156031 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.05.2008
|
Names of Shareholders |
No. of Shares |
|
Achal Rathi |
3000 |
|
Tumul Rathi |
2000 |
|
Shashikanth Agarwal |
2000 |
|
Kiran Agarwal |
3000 |
|
TOTAL |
10000 |
AS ON 17.08.2010
|
Names of Allottee |
No. of Shares |
|
Achal Rathi |
452000 |
|
Tumul Rathi |
294000 |
|
Shashikanth Agarwal |
346300 |
|
Kiran Agarwal |
377700 |
|
TOTAL |
1470000 |
AS ON 19.05.2008
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of packaging Material |
|
|
|
|
Exports : |
|
|
Products : |
Packaging Material |
|
Countries : |
Srilanka |
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|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
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|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Chemicoat Industries |
||||||||||
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|
||||||||||
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Customers : |
OEM’s, and B2B ·
Bambino Agro Industries |
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No. of Employees : |
50 (Approximately) |
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|
||||||||||
|
Bankers : |
Canara Bank, Adarsh Nagar Branch, Hyderabad-500027, Andhra Pradesh,
India |
||||||||||
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|
||||||||||
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Facilities : |
|
||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
The Andhra Pradesh State Financial Corporation, 5-9-194, Chirag Ali Lane,
Hyderabad-500001, Andhra Pradesh, India |
|
|
|
|
Auditors : |
|
|
Name : |
N. P. Asawa and Associates Chartered Accountant |
|
Address : |
4-1-969 and 970, Shop No.17, 1st Floor, Surabhi Shardha,
Abids, Hyderabad-500001, Andhra Pradesh, India |
|
Tel. No.: |
91-40-24768185 / 24750137 |
|
Pan No.: |
AAFFN2008J |
|
|
|
|
Related Party : |
Saksham Impex |
|
|
|
|
Sister Concern : |
Vedhat Chemicals Industries, Secyndarabad, Andhra Pradesh, India Line of Business : Trader of Chemicals
|
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
AS ON 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1480000 |
Equity Shares |
Rs.10/- each |
Rs. 14.800 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.147 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.247 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
3.336 |
|
|
TOTAL BORROWING |
|
|
3.336 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.583 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.640 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.016 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.001 |
|
Total
Current Assets |
|
|
0.017 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.000 |
|
|
Net Current Assets |
|
|
0.017 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.926 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.583 |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
75.000 |
5.600 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 90.000 Millions
The above information has been parted by Mr. Tumul.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
13.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.00 |
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. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
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 two years |
Yes |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
------ |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
Yes |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
No |
NOTE
Registered office has been shifted from 1st Floor, Plot
No.46, Sai Enclave, Near SBH Habsiguda, Hyderabad-500007, Andhra Pradesh,
India to the present address
FINANCIAL RESULTS
No commercial activity was carried on during the year. The company is
negotiating with banks and financial institutions for financial closure of
terms loans for purchase of the plant and machinery.
The company has however identified the land and the same has been
registered in the name of the company. the company proposes to set up a 3 Layer
Company Extruded Polythene Films. The Company has already commenced the
processing of leveling the land. The directors of the company have after a
detailed survey identified the vendors for supply of the required plant and
machinery. The Company is now in the process of negotiating the prices with the
vendors of plant and machinery. Once the same are freezed the company proposes
to approach banks and financial institutions for a financial closure.
FORM 8
|
Corporate
identity number of the company |
U24130AP2008PTC059341 |
|
Name of the
company |
SAKSHAM POLYTEC
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
1st Floor, Plot No.46, Sai Enclave, Near SBH Habsiguda, Hyderabad-500007, Andhra Pradesh, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts |
|
Particular of
charge holder |
Canara Bank, Adarsh Nagar Branch, Hyderabad-500027, Andhra Pradesh, India |
|
Nature of
instrument creating charge |
Common
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
01.10.2010 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest On Cash Credit 5%
Above Ongoing Base Rate With a minimum of 13.50% P.A. Terms of repayment As Stated In The
Agreement Margin 25% On Stocks 40% On Book Debts Extent and operation of the charge As Stated In The
Agreement |
|
Short particulars
of the property charged (Including location of the property) |
Primary: Hypothecation
of Stocks And Book Debts Collateral: Land
Admeasuring Ac 3.00 Guntas In Sy No 410/411/E Situated At Bibinagar Village,
Nalgonda District And Buildings Constructed To Be Constructed Thereon. First
Charge With Apsfc Plant and Machinery Acquired From Term Loan Availed From
APSFC. First Charge With APSFC Residential Flat
No J-1, 03rd Floor, Block J "Executive Park" Adm 1800 Sq. ft In Sy
No 45 and 46 Situated At Peerancheruvu Village, Rajendranagar Mandal, RR
District In Name of Tumul Rathi and Sashikant Agarwal- First Charge With
APSFC Personal
Guarantee of Tumul Rathi, Shashikanth Agarwal, Aanchal Rathi, Kiran Agarwal
Directors of The Company |
TRADE REFERENCES
· Bambino Agro Industries
· Chemicoat Industries
FIXED ASSETS
·
Land
·
Factory Building
·
Electrical Fittings
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. 56.42 |
|
|
1 |
Rs. 87.37 |
|
Euro |
1 |
Rs. 69.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
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 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.