MIRA
INFORM REPORT
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Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
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Name : |
SANMAN TRADE IMPEX PRIVATE LIMITED |
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Registered
Office : |
1410, Maker Chambers V, Nariman Point, Mumbai-400021, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
22.11.1996 |
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Com. Reg. No.: |
11-104099 |
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Capital
Investment / Paid-up Capital : |
Rs.30.000 Millions |
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CIN No.: [Company Identification
No.] |
U51900MH1996PTC104099 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS27612E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Distributor and Exporter of Metals, Paper, Chemicals, Plastics,
Software. |
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No. of Employees
: |
24 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
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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 1400000 |
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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 a well 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
|
Name : |
Mr. Nikunj |
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Designation : |
Manager |
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Contact No.: |
91-22-844444 |
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Date : |
29.02.2012 |
LOCATIONS
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Registered Office : |
1410, Maker Chambers V, Nariman Point, Mumbai-400021, |
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Tel. No.: |
91-22-22832170/22824444/22850669 |
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Fax No.: |
91-22-22821605/22824440 |
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E-Mail : |
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Website : |
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Corporate Office : |
712A, Embassy Centre, Nariman Point, Mumbai-400021, |
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Tel. No.: |
91-22-22624444/33554444 |
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Fax No.: |
91-22-22824440/39412333 |
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E-Mail : |
DIRECTORS
As on 29.09.2011
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Name : |
Mr. Nitinkumar Deendayal Didwania |
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Designation : |
Director |
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Address : |
172, Kshitu, 47, |
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Date of Birth/Age : |
23.06.1974 |
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Date of Appointment : |
12.04.1999 |
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DIN No.: |
00210289 |
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Name : |
Mrs. Sushmadevi Deendayal Didwania |
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Designation : |
Director |
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Address : |
172, Kshitu, 47, |
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Date of Birth/Age : |
30.09.1955 |
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Date of Appointment : |
12.04.1999 |
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DIN No.: |
00210240 |
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Name : |
Mr. Vishal Veersingh Sukhani |
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Designation : |
Whole-time Director |
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Address : |
Sukhani Sadan, 3rd Floor, |
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Date of Birth/Age : |
15.01.1976 |
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Date of Appointment : |
01.10.2005 |
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DIN No.: |
00209862 |
KEY EXECUTIVES
|
Name : |
Mr. Nikunj |
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Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
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Names of Shareholders |
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No. of Shares |
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Nitinkumar Deendayal Didwania |
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2999990 |
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Sushmadevi Deendayal Didwania |
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10 |
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Total |
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3000000 |
As on 29.09.2011
Equity Share Break up (Percentage of Total Equity)
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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, Distributor and Exporter of Metals, Paper, Chemicals,
Plastics, Software. |
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Exports : |
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Products : |
Metals, Paper, Chemicals, Plastics, Software. |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
24 (Approximately) |
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Bankers : |
·
State Bank of ·
Punjab National Bank, Raheja Chambers, ·
IDBI Bank
Limited, |
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Facilities : |
[Rs.
in Millions]
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Shabbier S. Bagasrawala Chartered Accountants |
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Address : |
Office No. 8, 1st Floor, Narayan Niwas, 63, Aarey Road, Off
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PAN.: |
AAKPB8971F |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
30.000 |
30.000 |
30.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
320.179 |
254.321 |
189.856 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
350.179 |
284.321 |
219.856 |
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LOAN FUNDS |
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1] Secured Loans |
67.643 |
41.628 |
41.207 |
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2] Unsecured Loans |
6.359 |
30.214 |
39.068 |
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TOTAL BORROWING |
74.002 |
71.842 |
80.275 |
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DEFERRED TAX LIABILITIES |
3.602 |
0.103 |
0.151 |
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TOTAL |
427.783 |
356.266 |
300.282 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
28.355 |
0.828 |
1.458 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.010 |
0.010 |
0.010 |
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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 |
129.241
|
94.876 |
56.547 |
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Sundry Debtors |
625.444
|
582.180 |
481.769 |
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Cash & Bank Balances |
34.656
|
20.841 |
24.987 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
36.214
|
27.085 |
39.650 |
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Total
Current Assets |
825.555
|
724.982 |
602.953 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
421.861
|
367.497 |
300.411 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
4.353
|
2.153 |
3.842 |
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Total
Current Liabilities |
426.214
|
369.650 |
304.253 |
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Net Current Assets |
399.341
|
355.332 |
298.700 |
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MISCELLANEOUS EXPENSES |
0.077 |
0.096 |
0.114 |
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TOTAL |
427.783 |
356.266 |
300.282 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
|
2709.092 |
2574.589 |
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Other Income |
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TOTAL |
3490.010 |
2709.092 |
2574.589 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
3417.537 |
2642.581 |
2512.557 |
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Advertising Expenses |
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Financial Expenses |
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TOTAL |
3417.537 |
2642.581 |
2512.557 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
72.473 |
66.511 |
62.032 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.916 |
0.207 |
0.199 |
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PROFIT BEFORE
TAX |
71.557 |
66.304 |
61.833 |
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Less |
TAX |
5.699 |
1.839 |
0.934 |
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PROFIT AFTER TAX
|
65.858 |
64.465 |
60.899 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
254.321 |
189.856 |
128.957 |
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BALANCE CARRIED
TO THE B/S |
320.179 |
254.321 |
189.856 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
190.703 |
62.792 |
73.525 |
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IMPORTS |
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Traded Goods |
264.382 |
131.344 |
146.840 |
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Earnings Per
Share (Rs.) |
21.95 |
21.49 |
-- |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
4010.000 |
Expected Sales (2011-12): Rs.4500.000 Millions
The above information has been parted by Mr. Mr. Nikunj
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.89
|
2.38 |
2.37 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.38
|
9.14 |
10.23 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.23 |
0.28 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.43
|
1.55 |
1.75 |
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Current Ratio (Current Asset/Current Liability) |
|
1.94
|
1.96 |
1.98 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry
Creditors
Rs.
In Millions
|
Particular |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
For Goods |
413.227 |
365.088 |
297.310 |
|
For Expenses |
8.634 |
2.409 |
3.101 |
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Total |
421.861
|
367.497 |
300.411 |
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Check List by Info Agents |
Available in Report (Yes / No) |
|
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 |
-- |
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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 one years |
Yes |
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12) Profitability for last three years |
No |
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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 |
No |
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16) Details of sister concerns |
-- |
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17) Major suppliers |
No |
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18) Major customers |
No |
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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 |
No |
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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 |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
WORKING RESULTS:
During the year,
the Company has achieved turnover of Rs.
3490.010 millions as compared to Rs. 2709.092 millions during the
previous year resulting in revenue growth of 28.83% The Company has made net
profit of Rs. 65.858 millions as against Rs. 64.465 millions in the previous year. After making adjustment of
brought forward profit of Rs. 254.321 millions the balance profit of Rs.
320.179 millions in the Profit and Loss Account has been carried over to the
Balance Sheet.
FUTURE BUSINESS
PROSPECTUS:
The company is conducting due diligence to evaluate the possibilities
for merger with an associate company having very good past track record. The
ensuing merger with other company will bring in a good value to the
shareholders and all other business related parties.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51900MH1996PTC104099 |
|
Name of the
company |
SANMAN TRADE
IMPEX PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1410, Maker Chambers V, Nariman Point, Mumbai-400021, |
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
10178902 |
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Type of charge |
|
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Particular of
charge holder |
IDBI Bank
Limited, |
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Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation dated 16-11-2011 executed by the Company in favour of IDBI
Bank Limited (IDBI) to secure enhanced Working Capital Facility of Rs.
500.000 millions (enhanced from Rs.320.000 millions to Rs. 500.000 millions)
by way of hypothecation on whole of the movable properties of the Company
including all stocks, book debts and receivables together with movable plant and
machinery, etc. and other movable fixed assets both present and future. |
|
Date of
instrument Creating the charge |
16.11.2011 |
|
Amount secured by
the charge |
Rs.500.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As per the
Supplemental Facility Agreement dated 16-11-2011 executed by Sanman Trade
Impex Private Limited in favour of IDBI Bank as amended from time to time. Terms of Repayment As per the
Supplemental Facility Agreement dated 16-11-2011 executed by Sanman Trade
Impex Private Limited in favour of IDBI Bank as amended from time to time. Margin As per the
Supplemental Facility Agreement dated 16-11-2011 executed by Sanman Trade
Impex Private Limited in favour of IDBI Bank as amended from time to time. Extent and Operation of the charge The charge
operates as security interalia as exclusive charge by way of hypothecation on
Company's all current assets both present and future to secure the enhanced
Working Capital Facility of Rs. 500.000 millions together with all costs,
expenses and other monies whatever stipulated in the SFA dated 16-11-2011 as
amended from time to time. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Exclusive Charge
on entire current assets i.e. raw materials, semi finished goods, stores,
spares, Bill receivables, book debts, present and future. The Supplemental
Deed of Hypothecation dated 16-11-2011 executed by the Company in favour of
IDBI. |
|
Date of
instrument modifying the charge |
28.08.2009 |
|
Particulars of
the present modification |
IDBI Bank has
increased the credit facilities from Rs. 320.000 millions to Rs. 500.000
millions in terms of Supplemental Facility Agreement dated 16-11-2011. Hence
the charge is modified for the enhanced Working Capital Facility upto Rs.
500.000 millions by way of hypothecation. |
FIXED ASSETS:
·
Motor Car
·
Computer
·
Office Equipments
·
Furniture and Fixtures
·
Air Condition
·
Telephone System
·
Land
·
Wind Mill
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.49.15 |
|
|
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |