MIRA
INFORM REPORT
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Report Date : |
26.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SAVOIR FAIRE MANUFACTURING COMPANY PRIVATE LIMITED |
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Registered
Office : |
Plot No.29, Sector - 3A, Integrated Industrial Estate, BHEL, SIDCUL,
Haridwar – 249403, Uttarakhand |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
07.05.2004 |
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Com. Reg. No.: |
20-032332 |
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Capital
Investment/ Paid-up Capital: |
Rs.5.965 Millions |
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CIN No.: [Company Identification
No.] |
U27201UR2004PTC032332 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MRTS04176E |
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PAN No.: [Permanent Account No.] |
AAICS6239C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of PP-R Pipes and Fittings |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 471000 |
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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.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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India |
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 |
INFORMATION PARTED BY
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Name : |
Mr. Vikas Chandra |
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Designation : |
Sale head |
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Date : |
30.05.2012 |
LOCATIONS
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Registered Office : |
Plot No.29, Sector - 3A, Integrated Industrial Estate, BHEL, SIDCUL,
Haridwar – 249403, Uttarakhand, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Address : |
C – 195, Puspanjali Enclave, Pitampura – 110034, Delhi, India. |
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Tel. No.: |
91-11-27017993/ 27013092/ 27017297 |
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Mobile No.: |
91-9350006076/ 9312272766/ 9871558219/ 9818442235 (Mr. K. L. Kindra) |
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Fax No : |
91-11-27025487 |
DIRECTORS
As on: 30.09.2011
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Name : |
Mr. Mahesh Aggarwal |
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Designation : |
Director |
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Address : |
C – 195, Pushpanjali Enclave. Pitampura – 110034. |
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Date of Birth/Age : |
05.06.1973 |
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Date of Appointment : |
07.05.2004 |
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DIN No.: |
00055073 |
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Other Directorships :
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Name : |
Mr. Bhupesh Khanna |
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Designation : |
Director |
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Address : |
15 / 14. |
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Date of Birth/Age : |
13.07.1973 |
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Date of Appointment : |
07.05.2004 |
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DIN No.: |
00057685 |
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Other Directorships :
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Name : |
Mr. Madan Mohan Aggarwal |
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Designation : |
Director |
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Address : |
C – 195, Pushpanjali Enclave. Pitampura – 110034. |
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Date of Birth/Age : |
01.07.1938 |
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Date of Appointment : |
04.08.2008 |
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DIN No.: |
01164583 |
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Other Directorships :
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KEY EXECUTIVES
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Name : |
Mr. Vikas Chandra |
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Designation : |
Sale head |
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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Mahesh Aggarwal |
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40650 |
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Bhupesh Khanna |
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19000 |
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Total |
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59650 |
Equity Share Break up (Percentage of Total Equity)
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 : |
Manufacturers of PP-R Pipes and Fittings |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shishir Gupta and Company Chartered Accountants |
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Address : |
City Centre, 6, |
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Tel. No.: |
91-135-2714719 |
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Fax No.: |
91-135-2714719 |
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E-Mail : |
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PAN No.: |
AAVFS8230M |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.100/-each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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59650 |
Equity Shares |
Rs.
100/-each |
Rs. 5.965
Millions |
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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 |
5.965 |
5.965 |
5.965 |
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2] Share Application Money |
0.000 |
0.000 |
0.650 |
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3] Reserves & Surplus |
111.943 |
96.339 |
78.493 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
117.908 |
102.304 |
85.108 |
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LOAN FUNDS |
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1] Secured Loans |
36.925 |
38.999 |
18.294 |
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2] Unsecured Loans |
0.964 |
1.464 |
1.400 |
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TOTAL BORROWING |
37.889 |
40.463 |
19.694 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
155.797 |
142.767 |
104.802 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
26.636 |
23.629 |
26.700 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.500 |
1.500 |
0.000 |
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DEFERREX TAX ASSETS |
1.667 |
1.482 |
1.134 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
22.282
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22.404 |
23.501
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Sundry Debtors |
140.743
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109.773 |
86.219
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Cash & Bank Balances |
7.203
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31.304 |
1.730
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
18.989
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10.886 |
9.491 |
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Total
Current Assets |
189.217
|
174.367 |
120.941 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
51.350
|
43.579 |
29.700 |
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Other Current Liabilities |
10.190
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11.009 |
10.466 |
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Provisions |
3.683
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3.623 |
3.807 |
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Total
Current Liabilities |
65.223
|
58.211 |
43.973 |
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Net Current Assets |
123.994
|
116.156 |
76.968 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
155.797 |
142.767 |
104.802 |
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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 |
369.255 |
327.018 |
287.539 |
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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 |
344.542 |
299.932 |
251.060 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
24.713 |
27.086 |
36.479 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
5.748 |
5.969 |
5.712 |
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PROFIT BEFORE
TAX |
18.965 |
21.117 |
30.767 |
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Less |
TAX |
3.361 |
3.271 |
3.807 |
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PROFIT AFTER TAX
|
15.604 |
17.846 |
26.960 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
85.168 |
67.322 |
39.992 |
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BALANCE CARRIED
TO THE B/S |
100.772 |
85.168 |
67.322 |
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Earnings Per
Share (Rs.) |
261.60 |
299.18 |
451.97 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.23
|
5.46 |
9.38 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.79
|
10.67 |
20.84
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.21 |
0.36
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Debt Equity Ratio (Total Liability/Networth) |
|
0.87
|
0.96 |
0.75
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Current Ratio (Current Asset/Current Liability) |
|
2.90
|
3.00 |
2.75
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LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
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Year
of Establishment |
Yes |
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Locality
of the Firm |
Yes |
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Constitution
of the firm |
Yes |
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Premises
details |
No |
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Type
of Business |
Yes |
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Line
of Business |
Yes |
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Promoters
background |
Yes |
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No.
of Employees |
No |
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Name
of Person Contacted |
Yes |
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Designation
of contact person |
Yes |
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Turnover
of firm for last three years |
Yes |
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Profitability
for last three years |
Yes |
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Reasons
for variation <> 20% |
- |
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Estimation
for coming financial year |
No |
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Capital
the business |
Yes |
|
Details
of sister concerns |
No |
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Major
Suppliers |
No |
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Major
Customers |
No |
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Payment
Terms |
No |
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Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
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Conduct
of the banking account |
- |
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Buyer
visit details |
- |
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Financials,
if provided |
Yes |
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Incorporation
details, if applicable |
Yes |
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Last
accounts filed at ROC |
Yes |
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Major
Shareholders, if applicable |
Yes |
Note:
Registered office of the company has been shifted from 15, Kanwali Road,
Dehradun – 248001, Uttarakhand, India to the present address w. e. f.
30.09.2009
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U27201UR2004PTC032332 |
|
Name of the
company |
SAVOIR FAIRE
MANUFACTURING COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Plot No.29, Sector - 3A, Integrated Industrial Estate, BHEL, SIDCUL,
Haridwar – 249403, Uttarakhand, India E-mail: shishir@shishir.co.in
|
|
This form is for |
Creation
of charge |
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Type of charge |
·
Book debts
·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India E-mail: RBBform8@hdfcbank.com |
|
Nature of
instrument creating charge |
Letter of
Hypothecation. |
|
Date of
instrument Creating the charge |
14.05.2012 |
|
Amount secured by
the charge |
Rs.70.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of
Repayment on demand. Margin Company shall at
all times during the continuance of this security maintain the said debts of
a sufficient amount to provide the margin of security as may from time to
time advised by the Bank. Extent and
Operation of the charge Hypothecation by
way of First Charge on Company's Stocks and Book Debts etc., as mentioned in Column No.15 below to
secure as a continuing security for
the repayment of Rs. 70.000 Millions, together with interest, costs, charges,
expenses and other moneys due and payable by the Company to the Bank. Others NIL |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished
goods, and other merchandise whatsoever being movable properties. All the debts,
that is, all the book debts, outstanding, monies receivables, claims, bills, invoice documents, contracts,
guarantees, and rights. |
FIXED ASSETS
- Building
- Vibrator
- Mixer
- Machinery
- Electric Installation
- Computers and
Softwares
- Furniture and
Fixture
- Air
Compressor
- Air
Conditioner
- Injection
Moulding Machinery
- Fire
Equipment
- Moulds and
Dies
- Vehicles
AS PER WEBSITE DETAILS:
PROFILE
With huge experience of more than a decade,
they, Subject are a leading Manufacture, Exporter and Supplier of a wide array
of PP-R Pipes and Fittings. there product array consist of PPR Pipes, PPR Pipe
Fittings, Agriculture Pipes, High Pressure Pipes, UPVC Pipes, SWR Pipes, UPVC
Column Pipes, Braided Pipes, Sanitary
Ware and the likes. optimum quality of products, affordable prices, better
services, these are some of the USPs of there company, which have helped us
attaining a remarkable position in this highly competitive market. Ever since
there inception, they are known for there high quality products and customer
oriented approach.
In addition to this, they do offer Brass Tank
Connector (Both Side Thread), PPR Tank Connector, Pipe Scissor, Welding Tool,
Ring HDPE/PP, Flange Socket, Concealed Stop Crock, Wall Clamp, Union, Long Plug
with O Ring, Plug Short, Double Union Ball Cock, Welding Suitcase, Single
Welding, Machine and many more. They are equipped with ultra modern
infrastructure and extremely talented work force, they help us in manufacturing
optimum quality products which are in conjunction with client's requirement
both in terms of quality and quantity. They are blessed with huge and well
renowned clientele, such as: OMAXE, Amrapali Group, SHIPRA, Haldiram's,
Infosys, ANSAL APL, TDI, WIPRO and many more. In order to assure there
customers of high quality products, they focus a lot on procuring raw materials
and components for there products, hence they procure them from the most
trustworthy vendors of the market.
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.56.53 |
|
|
1 |
Rs.88.09 |
|
Euro |
1 |
Rs.70.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.