MIRA
INFORM REPORT
|
Report Date : |
01.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAHASTRAA EXPORTS PRIVATE LIMITED (w.e.f. 01.08.2002) |
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Formerly Known
As : |
SAHASTRA EXPORTS PRIVATE LIMITED
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
21.07.2000 |
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Com. Reg. No.: |
11-127866 |
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Capital
Investment / Paid-up Capital : |
Rs.14.576 Millions |
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CIN No.: [Company Identification
No.] |
U51900MH2000PTC127866 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS27607G |
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PAN No.: [Permanent Account No.] |
AAFCS2340R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Chemicals. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
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 260000 |
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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 satisfactory track. Trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct. 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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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|
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
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 |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-22-66795555 / 66793250 / 66793251 / 66793252 / 66793253 / 66793254 |
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Mobile No.: |
91-9819349444 (Mr. Suhhail Agarwaal |
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Fax No.: |
91-22-66793257 |
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E-Mail : |
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Website : |
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Factory / Warehouse : |
Plot No D-303 Village Turbhe MIDC TTC Industrial Area
Vashi New Mumbai – 400705, |
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Branch Office : |
Located At
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DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Hycintha Alex Fernandes |
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Designation : |
Director |
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Address : |
Palm Lands, (Out House), Tps III, |
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Date of Birth/Age : |
20.10.1963 |
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Date of Appointment : |
01.08.2002 |
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DIN No.: |
01745503 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U25200MH1999PTC120946 |
Saujanya
Plastics Private Limited |
Director |
22-07-99 |
22-07-99 |
- |
Active |
NO |
|
2 |
U51900MH2000PTC127866 |
Sahastraa
Exports Private Limited |
Director |
01-08-02 |
01-08-02 |
- |
Active |
NO |
|
Name : |
Mr. Suhhail Shrinwaas Agarwaal |
|
Designation : |
Director |
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Address : |
18/2, Roopal Town, House 27, Nutan Laxmi Society, N.S. Road no.9,
Juhu, Mumbai – 400049, Maharshtra, India |
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Date of Birth/Age : |
18.10.1983 |
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Date of Appointment : |
19.10.2001 |
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DIN No.: |
01745543 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U51900MH2000PTC127866 |
Sahastraa
Exports Private Limited |
Director |
19-10-01 |
19-10-01 |
- |
Active |
NO |
|
2 |
U25200MH1999PTC120946 |
Saujanya
Plastics Private Limited |
Director |
18-08-08 |
18-08-08 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Suhhail Agarwaal |
|
1263412 |
|
Triveni Management Consultancy Services Limited, |
|
98000 |
|
Premlata Agarwal |
|
350 |
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Kamalkant |
|
350 |
|
Sumedh Agarwal |
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1 |
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Swadha Agarwal |
|
18998 |
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Bharti Thakkar |
|
6001 |
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Dhapadevi Ladha |
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1 |
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Sampatraj Ladha |
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1 |
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Shalin Ladha |
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1 |
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Saujanya Plastics Private Limited, India |
|
70461 |
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Total |
|
1457576 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
11.55 |
|
Directors or relatives of Directors |
88.45 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Chemicals. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
Note: (A) Dhanlaxmi
Bank Loan Rs.42.796 Millions ( Secured against mortgage of Navkar Property )
Cash Credit Facility from Oriental Bank of Commerce Rs.115.798 Millions
(Hypothecation of stock of goods and book debts) LC Facility from Oriental
Bank of Commerce Rs.18.697 Millions ( Hypothecation of charge over the goods
in case of LC on DA basis) (B) Dhanlaxmi
Bank Loan Rs.0.000 Million ( Secured against mortgage of Navkar Property )
Cash Credit Facility from Oriental Bank of Commerce Rs.89.501 Millions
(Hypothecation of stock of goods and book debts) LC Facility from Oriental
Bank of Commerce Rs.0.000 Million ( Hypothecation of charge over the goods in
case of LC on DA basis) (C) Car Loans -
HDFC Bank Limited Rs.0.065 Million (Secured to Hypothecation of Honda Civik)
Car Loans - HDFC Bank Limited Rs.0.328 Million (Secured to Hypothecation of
Skoda) Car Loans - HDFC Bank Limited Rs.1.048 Millions (Secured to
Hypothecation of Toyota) (D) Car Loans -
HDFC Bank Limited Rs.0.309 Million (Secured to Hypothecation of Honda Civik)
Car Loans - HDFC Bank Limited Rs.0.416 Million (Secured to Hypothecation of
Skoda) Loans - HDFC Bank Limited Rs.0.000 Millions (Secured to Hypothecation
of Toyota)
Notes: (A) Unsecured
Loans From Bank and Financial Institutions Barclays Bank Plc Rs.3.268 Millions
HDFC Bank Rs.1.400 Millions Standard Chartered Bank Loan Rs.2.551 Millions
Magna Fincorp Limited Rs.2.219 Million Religare Finvest Limited Rs.3.338
Million Total Rs.12.776 Millions (B) Unsecured
Loans From Director Suhhail Agarwal Rs.3.245 Millions (C) Unsecured
Loans From Share Holders Swadha Agarwaal Rs.7.200 Millions Bharati Thakkar
Rs.0.539 Million Total Rs.7.739 Millions Unsecured Loans From Share Holders
Swadha Agarwaal Rs.7.200 Million Bharati Thakkar Rs.0.539 Million Total
Rs.7.739 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dinesh S Agarwal and Associates Chartered Accountants |
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Address : |
609/B, Mangalarambh, Kora Kendra Road, Borivali (West), Mumbai –
400092, Maharashtra, India |
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Tel. No.: |
91-22-28987061 |
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Fax No.: |
91-22-28987062 |
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E-Mail : |
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PAN.: |
AACFD8338A |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1457576 |
Equity Shares |
Rs.10/- each |
Rs.14.576
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
14.576 |
14.576 |
14.576 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
49.494 |
43.666 |
40.081 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
64.070 |
58.242 |
54.657 |
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LOAN FUNDS |
|
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|
1] Secured Loans |
178.732 |
90.226 |
1.029 |
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2] Unsecured Loans |
30.116 |
12.151 |
12.546 |
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TOTAL BORROWING |
208.848 |
102.377 |
13.575 |
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DEFERRED TAX LIABILITIES |
1.274 |
0.707 |
0.491 |
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TOTAL |
274.192 |
161.326 |
68.723 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
46.799 |
19.340 |
20.429 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.040 |
0.040 |
0.040 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
50.982
|
11.221 |
5.275 |
|
|
Sundry Debtors |
282.241
|
228.096 |
158.291 |
|
|
Cash & Bank Balances |
48.353
|
14.613 |
7.939 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
27.132
|
24.977 |
25.125 |
|
Total
Current Assets |
408.708
|
278.907 |
196.630 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
166.634
|
131.006 |
|
|
|
Other Current Liabilities |
9.626
|
3.260 |
146.296 |
|
|
Provisions |
5.095
|
2.695 |
2.080 |
|
Total
Current Liabilities |
181.355
|
136.961 |
148.376 |
|
|
Net Current Assets |
227.353
|
141.946 |
48.254 |
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
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TOTAL |
274.192 |
161.326 |
68.723 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PROFIT BEFORE
TAX |
8.765 |
5.286 |
3.063 |
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Less |
TAX |
2.937 |
1.701 |
0.810 |
|
` |
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PROFIT AFTER TAX
|
5.828 |
3.585 |
2.253 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.629 |
7.044 |
5.066 |
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|
Add / (Less) |
DIFFERED TAX
ASSETS |
0.000 |
0.000 |
(0.275) |
|
|
BALANCE CARRIED TO
THE B/S |
16.457 |
10.629 |
7.044 |
|
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|
Earnings Per
Share (Rs.) |
4.40 |
2.46 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.92
|
1.77 |
1.41 |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.09 |
0.06 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
6.09
|
4.11 |
2.96 |
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|
|
Current Ratio (Current Asset/Current Liability) |
|
2.25
|
2.04 |
1.33 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered address of the company is shifted from “Natraj Buildidng,
Swastik Society, N. S. Road, No. 2, JVPD Scheme, Mumbai – 400049, Maharashtra, India”
to the present address w.e.f. 19.01.2009.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51900MH2000PTC127866 |
|
Name of the
company |
SAHASTRAA EXPORTS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Liberty Apartment, Flat No.103, 1st Floor, 80-A, Sarojini
Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India E-mail : ssrauthan@ssrgroupindia.in
|
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10156610 |
|
Type of charge |
Book debts Movable property (not being pledge) Others (Current Assets) |
|
Particular of
charge holder |
Oriental Bank of
Commerce, 67, Sonawala Building, Bombay Samachar Marg, Fort, Mumbai – 400001,
Maharashtra, India E-mail ; emailroc@rediffmail.com |
|
Nature of instrument
creating charge |
Supplemental
Agreement to Secure Credit / Loan Facilities |
|
Date of
instrument Creating the charge |
15.02.2012 |
|
Amount secured by
the charge |
Rs.157.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest rate and
Penal interest rate as agreed between the borrower company and the bank from
time to time. Terms of
Repayment Repayment, as agreed
between the borrower company and the bank from time to time. Margin Margin Rate, as
agreed between the borrower company and the bank from time to time. Extent and
Operation of the charge At the request of
the borrower company , the bank has enhanced Cash Credit limit upto Rs.
82.500 Millions, the total banking limits stands enhanced upto Rs. 157.500
Millions [i. e Cash Credit Rs. 82.500 Millions and Letter of Credit (Inland /
Foreign) Rs. 75.000 Millions] against Hypothecation of all Current assets,
book - debts. The Charge stands
modified upto Rs. 157.500 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
all Current assets, Book Debts |
|
Particulars of the
present modification |
At the request of
the borrower company , the bank has enhanced Cash Credit limit upto Rs.
82.500 Millions, the total banking limits stands enhanced upto Rs. 157.500
Millions [i. e Cash Credit Rs. 82.500 Millions and Letter of Credit (Inland /
Foreign) Rs. 75.000 Millions] against Hypothecation of all Current assets,
book - debts. The Charge stands
modified upto Rs. 157.500 Millions |
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.48.94 |
|
|
1 |
Rs.77.95 |
|
Euro |
1 |
Rs.65.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.