MIRA
INFORM REPORT
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Report Date : |
09.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ARIHANT PIGMENTS PRIVATE LIMITED (w.e.f. 05.05.2008) |
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Formerly Known
As : |
SHREANSH CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
11, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.08.2005 |
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Com. Reg. No.: |
11-155307 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U51490MH2005PTC155307 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Chemicals. |
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No. of Employees
: |
12 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 7000 |
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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. 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.
INFORMATION PARTED BY
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Name : |
Mr. Bhaskar |
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Designation : |
Accounts Manager |
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Contact No.: |
91-22-40586777 |
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Date : |
07.06.2012 |
LOCATIONS
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Registered Office : |
11, |
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Tel. No.: |
91-22-40586777/ 40586734 |
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Fax No.: |
91-22-66608077 |
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E-Mail : |
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Area : |
2200 sq ft |
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Location : |
Owned |
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Warehouse: |
No.153/14 Gala No.D-8, Survey Munisuvrat Complex, |
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Area : |
2250 sq ft |
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Location : |
Owned |
DIRECTORS
As on 28.09.2011
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Name : |
Mr. Rupal Nilesh Kumar Mehta |
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Designation : |
Director |
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Address : |
Plot No.24, Block 5, 1st Floor, Krishna Kunj, Behind Arora,
Opposite Sahakari Bhandar, Matunga CR, Mumbai – 400 019, |
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Date of Birth/Age : |
13.12.1971 |
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Date of Appointment : |
11.08.2005 |
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DIN No.: |
01944723 |
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Name : |
Mrs. Shwetal Bhupendra Sakaria |
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Designation : |
Director |
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Address : |
703, Saumitra CHS Limited, Plot No.295, |
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Date of Birth/Age : |
06.06.1980 |
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Date of Appointment : |
11.11.2008 |
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DIN No.: |
00142838 |
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Name : |
Mr. Bhupendra Gopalji Sakaria |
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Designation : |
Director |
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Address : |
703, Saumitra CHS Limited, Plot No.295, |
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Date of Birth/Age : |
24.08.1939 |
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Date of Appointment : |
11.11.2008 |
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DIN No.: |
00142682 |
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KEY EXECUTIVES
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Name : |
Mr. Bhaskar |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2011
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Names of Shareholders |
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No. of Shares |
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Rupal Mehta |
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45000 |
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Shwetal Sakaria |
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18000 |
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Khushi Sakaria |
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9000 |
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Aruna Sakaria |
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9000 |
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Bhupendra Sakaria |
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9000 |
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Total |
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90000 |
As on 19.12.2011
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Names of Allottees |
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No. of Shares |
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Shwetal Bhupendra Sakaria |
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40000 |
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Total |
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40000 |
As on 15.11.2011
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Names of Allottees |
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No. of Shares |
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Shwetal Bhupendra Sakaria |
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170000 |
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Total |
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170000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2011
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Chemicals. |
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Products : |
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Imports : |
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Products : |
Chemicals |
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Countries : |
·
Germany ·
China ·
Korea |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
·
Quality Chemical Industries ·
ACR Resources Privat Limited A/c ·
B Vithalani and Company ·
Girish Roadways ·
Paths Enterprises ·
Sainath Logistics |
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Customers : |
Wholesalers and Retailers ·
Flexi Staff Private Limited |
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No. of Employees : |
12 (Approximately) |
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Bankers : |
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Bank of Baroda, Vapi Industrial Estate Branch,
GIDC, Vapi – 396195, Gujarat, India ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India ·
Union Bank, Lalbaug Branch |
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Facilities : |
LC Rs.15.000 Millions B G Rs.15.000 Millions (Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B. Vithalani and Company Chartered Accountants |
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Address : |
#246, 2nd Floor, Shree Naman Plaza, Near Shoppers, S.V.
Road, Kandivali (West), Mumbai – 400067, Maharashtra, India |
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Tel No.: |
91-22-28615737 |
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Mobile No.: |
91-9821195737 |
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Email: |
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PAN No.: |
AADPV5956B |
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Other Related Party : |
·
Arihant Chemicals and Resins (India) Private
Limited, (Sister Concern) ·
Cytech Coatings Private Limited,
(Common Director) ·
Tridev Resins (India) Private Limited, (Common
Director) ·
ACR Resources Private Limited ·
J.J Enterprises, (Proprietor Nilesh Mehta) |
CAPITAL STRUCTURE
After 28.09.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000
Millions |
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As on 28.09.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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90000 |
Equity Shares |
Rs.10/- each |
Rs.0.900
Million |
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As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
1.678 |
0.144 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.125) |
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NETWORTH |
1.778 |
0.244 |
(0.025) |
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LOAN FUNDS |
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1] Secured Loans |
1.710 |
0.000 |
0.126 |
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2] Unsecured Loans |
0.452 |
0.900 |
0.110 |
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TOTAL BORROWING |
2.162 |
0.900 |
0.236 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.940 |
1.144 |
0.211 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.569 |
0.611 |
0.702 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.092 |
0.055 |
0.038 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.993
|
0.057
|
0.032 |
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Sundry Debtors |
14.369
|
9.938
|
5.556 |
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Cash & Bank Balances |
0.028
|
1.505
|
1.199 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
1.157
|
0.806
|
1.114 |
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Total
Current Assets |
18.547
|
12.306
|
7.901 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
11.714
|
11.217 |
8.134 |
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Other Current Liabilities |
2.581
|
0.304
|
0.095 |
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Provisions |
0.973
|
0.307
|
0.201 |
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Total
Current Liabilities |
15.268
|
11.828
|
8.430 |
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Net Current Assets |
3.279
|
0.478
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(0.529) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.940 |
1.144 |
0.211 |
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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 |
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Other Income |
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TOTAL |
77.971 |
51.534 |
35.029 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
75.476 |
50.954 |
34.754 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.495 |
0.580 |
0.275 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.162 |
0.190 |
0.239 |
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PROFIT/(LOSS)
BEFORE TAX |
2.333 |
0.390 |
0.036 |
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Less |
TAX |
0.799 |
0.120 |
0.039 |
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PROFIT/(LOSS)
AFTER TAX |
1.534 |
0.270 |
(0.003) |
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Earnings/Loss
Per Share (Rs.) |
153.41 |
26.96 |
(0.28) |
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Particulars |
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|
31.03.2012 |
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Sales Turnover (Approximately) |
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|
97.800 |
Expected Sales (2012-2013): Rs.140.000 Millions
The above information has been parted by Mr. Bhaskar – Accounts Manager
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
2.99
|
0.76 |
0.10 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
12.58
|
3.17 |
0.40 |
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Return on Investment (ROI) (PBT/Networth) |
|
1.31
|
1.60 |
(1.44) |
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Debt Equity Ratio (Total Liability/Networth) |
|
8.59
|
48.48 |
(337.200) |
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Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.04 |
0.94 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details:
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
for Goods |
11.220 |
10.944 |
8.030 |
|
Sundry Creditors
for Expenses |
0.494
|
0.273 |
0.104 |
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Total |
11.714
|
11.217 |
8.134 |
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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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 |
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11) Turnover of firm for last three years |
Yes |
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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 |
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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 |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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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 |
Note:
The registered office of the company has been shifted from 341, Lila Niwas, Ground Floor, Chandravarkar Road, Opposite Dhanlaxmi Bank, Matunga CR, Mumbai – 400 019, Maharashtra to the present address w.e.f. 06.05.2008.
PERFORMANCE:
During the year,
the Company's Gross Receipts was
Rs.77.971 Millions as against 51.534 Millions in the last year. Three is an increase in Gross Receipts to the tune of 51.3% as compared to last
year. The Company has earned Profit after tax Rs.1.534 Millions against Rs.0.269
Million in the previous year. The Company's performance was satisfactory during the year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U51490MH2005PTC155307 |
|
Name of the company |
ARIHANT PIGMENTS
PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
11, Peninsula
Centre, Dr. S.S. Rao Road, Off Dr. Ambedkar Road, Parel, Mumbai – 400 012,
Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of charge holder |
Bank of Baroda, Vapi Industrial Estate Branch, GIDC, Vapi – 396195,
Gujarat, India Email: indvap@bankofbaroda.com |
|
Nature of instrument creating charge |
Composite
Hypothecation Agreement dated of 21st ,November, 2011 |
|
Date of instrument Creating the charge |
21.11.2011 |
|
Amount secured by the charge |
Rs.40.000
Millions |
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Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Working Capital - 16.25%BR+5.50%presently BR at 10.75% Inland BD with LC -At 0.50% over BR i.e.11.25% p.a. with monthly rest
up to 90 days. At 0.75% over BR i.e.11.50%p.a. monthly rest up to 180 days Terms of Repayment Credit Facilities to be Repayable on Demand. Margin Working Capital Cash Credit (Hypo) - 25% on Raw Material, Stock in
Process, Finished Goods, Stores and Spares, Packing Materials. Inland Bill Discounting with LC- NIL Letter of Credit (Foreign/Inland) (DA/DP, DA for 180/90 days)- 10% Cash
Margin. Extent and Operation of the charge Working Capital Cash Credit (Hypo) –Rs.10.000 Millions Inland Bill Discounting with LC – Rs.15.000 Millions Letter of Credit (Foreign/Inland) (DA/DP, DA for 180/90 days
–Rs.15.000 Millions Total –Rs.40.000 Millions |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Hypothecation of
raw materials, Stock in process, finished goods and other current assets and
hypothecation of book-debts of the company. Hypothecation of
existing plant and machinery. Personal
Guarantee of, Shri Bhupendra G
Sakaria Shri Shwetal B
Sakaria Mrs Khushi S
Sakaria Corporate
Guarantee Arihant
Chemicals and Resins (India) Private Limited ACR Resources Private
Limited |
TRADE REFERENCES:
·
Flexi Staff Private Limited
·
Quality Chemicals Industries
FIXED ASSETS:
·
Computer
·
Furniture and Fixture
·
Motor Car
·
Office Equipment
·
Mobile
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.55.36 |
|
|
1 |
Rs.85.63 |
|
Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
YES |
|
--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.