MIRA
INFORM REPORT
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Report Date : |
09.03.2012 |
IDENTIFICATION DETAILS
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Name : |
SHAGUN CASTINGS PRIVATE LIMITED |
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Registered
Office : |
Plot No. G 9/10, MIDC, Shiroli, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
08.05.1995 |
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Com. Reg. No.: |
11-088132 |
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Capital
Investment / Paid-up Capital : |
Rs.1.500 Millions |
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CIN No.: [Company Identification
No.] |
U27320MH1995PTC088132 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
KLPS05167B |
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PAN No.: [Permanent Account No.] |
AACCS5267J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Suppliers of all types of ci casting and sg casting |
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No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 34000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is on established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct The company can be considered for small 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. Santosh |
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Designation : |
Accounted |
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Contact No.: |
91-230-2469691 |
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Date : |
06.03.2012 |
LOCATIONS
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Registered Office / Factory : |
Plot No. G 9/10, MIDC, Shiroli, |
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Tel. No.: |
91-230-2469691 / 2460067 |
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Fax No.: |
91- 230-2469 694 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Sharad Shyamsunder Totla |
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Designation : |
WHOLE
TIME DIRECTOR |
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Address : |
18-A, Madhuban Apartment, |
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Date of Birth/Age : |
16.07.1982 |
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Date of Appointment : |
30.04.2006 |
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DIN No.: |
00718947 |
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Name : |
Mr. Shyamsunder Satanarain Totla |
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Designation : |
Director |
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Address : |
18-A, Madhuban Apartment, |
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Date of Birth/Age : |
24.09.1950 |
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Date of Appointment : |
08.05.1995 |
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DIN No.: |
00719191 |
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Name : |
Mr. Suresh Ramchandra Urunkar |
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Designation : |
Director |
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Address : |
Plot No. 002, Rs 772, Vidya Vihar Housing Society, Nale Colony, Kalamba Road, Kolhapur -416007, Maharashtra, India |
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Date of Birth/Age : |
15.02.1946 |
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Date of Appointment : |
01.06.2007 |
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DIN No.: |
01449141 |
KEY EXECUTIVES
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Name : |
Mr. Prasad H. Joshi |
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Designation : |
Company Secretary |
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Address : |
C III 8, Sterling towers, Gawat Mandai, Shahupliri,
Kolhapur-416001, |
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Qualification : |
B.COM.,LL 8., ACS,PGCCADR |
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Tel. No.: |
91-231-266952 / 261550 |
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Mobile No.: |
91-9881468520 |
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E-Mail : |
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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Shyamsunder Totla |
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2250 |
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Van Dana Totla |
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3250 |
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Shyamsunder Totla (Huf) |
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3500 |
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Sharad Totla |
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4000 |
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Purshottam Satnarayan Totla |
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400 |
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Priyanka Sharad Totla |
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1600 |
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Total |
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15000 |
As on 30.09.2011
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 : |
Manufacturer and Suppliers of all types of ci casting and sg casting |
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Products : |
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Terms : |
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Selling : |
Credit (30 Days / 60 Days) |
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Purchasing : |
Credit (30 Days / 60 Days) |
PRODUCTION STATUS (As on 31.03.2011)
Licensed Capacity:
Not
Available
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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C.I. Casting |
MT |
4000 |
2699.090 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacture
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No. of Employees : |
120 (Approximately) |
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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 : |
Sanjay M. Vanbatte Chartered Accountant |
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Address : |
B-1, |
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PAN.: |
AAJPV2826L |
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Associates: |
S.P. Machinist |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.100/- each |
Rs.1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.100/-
each |
Rs.1.500
Millions |
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Note: Out of above shares 3250 shares are allotted as fully paid up pursuant to a contract without payment being received in cash
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 |
1.500 |
1.500 |
1.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
7.135 |
6.016 |
5.083 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.635 |
7.516 |
6.583 |
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LOAN FUNDS |
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1] Secured Loans |
21.407 |
18.162 |
21.581 |
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2] Unsecured Loans |
17.787 |
16.441 |
16.151 |
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TOTAL BORROWING |
39.194 |
34.603 |
37.732 |
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DEFERRED TAX LIABILITIES |
1.671 |
1.751 |
1.759 |
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TOTAL |
49.500 |
43.870 |
46.074 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
27.256 |
26.129 |
26.159 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.481 |
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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 |
3.218
|
1.971 |
1.420 |
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Sundry Debtors |
36.229
|
26.068 |
23.860 |
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Cash & Bank Balances |
0.112
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1.520 |
0.526 |
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Other Current Assets |
1.663
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1.660 |
1.660 |
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Loans & Advances |
1.675
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1.589 |
1.355 |
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Total
Current Assets |
42.897
|
32.808 |
28.821 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
14.706 |
10.795 |
6.871 |
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Other Current Liabilities |
0.955
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0.740 |
1.314 |
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Provisions |
4.992
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3.532 |
1.202 |
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Total
Current Liabilities |
20.653
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15.067 |
9.387 |
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Net Current Assets |
22.244
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17.741 |
19.434 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
49.500 |
43.870 |
46.074 |
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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 |
126.049 |
99.164 |
88.952 |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
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NA |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
8.554 |
7.898 |
6.079 |
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FINANCIAL
EXPENSES |
3.942 |
3.991 |
3.994 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.612 |
3.907 |
1.712 |
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DEPRECIATION/
AMORTISATION |
3.622 |
3.166 |
2.221 |
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PROFIT BEFORE
TAX |
0.990 |
0.741 |
(0.509) |
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TAX |
0.171 |
0.108 |
0.096 |
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PROFIT AFTER TAX
|
0.819 |
0.633 |
(0.605) |
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Earnings Per
Share (Rs.) |
54.57 |
42.19 |
-- |
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Expected Sales (2011-12) : Rs.150.000 Millions
The above information has been parted by Mr. Santosh
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
NA
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.78
|
0.75 |
(0.57) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.41
|
1.26 |
(0.93) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.10 |
(0.08) |
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Debt Equity Ratio (Total Liability/Networth) |
|
6.93
|
6.61 |
7.16 |
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Current Ratio (Current Asset/Current Liability) |
|
2.08
|
2.18 |
3.07 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
14.706 |
10.795 |
6.871 |
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Total |
14.706 |
10.795 |
6.871 |
Trade References
- Abhiman
Enterprises
- Geeta
Enterprises
|
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 |
-- |
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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 two 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 |
Yes |
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16) Details of sister concerns |
-- |
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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) |
-- |
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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 |
-- |
RESULTS OF OPERATIONS
The Company recorded an increase of 27% in sales as compared to previous year, The sales were Rs.126.000 Millions as against Rs.99.100 Millions of previous year During the year under report the Company earned a profit of Rs.0.818 Million as compared 10 previous year profit 0.632 Million showing increase in performance of the company The activities of the Company included castings manufacturing and sales The directors are confident that the Company will overcome this scenario and achieve even more good results in the near future.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
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Name of the company
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SHAGUN CASTINGS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Plot No. G 9/10, MIDC, Shiroli, |
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This form is for |
Creation of charge |
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Type of charge |
Book
debts Movable
property (not being pledge) Others
(Stock) |
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Particular of
charge holder |
Bank Of |
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Nature of
instrument creating charge |
Composite
Hypothecation Agreement dated 28th October 2010. |
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Date of
instrument Creating the charge |
28.10.2010 |
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Amount secured by
the charge |
Rs.24.957
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest for Term Loan and cash credit 11% Terms of repayment Term loan I- 0.038 Million: Repayable in 35 monthly installments of Rs. 0.027 Million. Term Loan II- 0.170 Million: Repayable in 23 monthly installments of Rs. 0.007 Million. Term Loan III- 3.085 Millions: Repayable in 44 monthly installments of Rs. 0.069 Million. Term Loan IV- 0.529 Million: Repayable in 47 monthly installments of Rs. 0.011 Million. Term Loan V- 0.735 Million: Repayable in 60 monthly installments of Rs. 0.012 Million. Term Loan VI- 2.000 Millions: repayable in 60 monthly installments of Rs. 0.032 Millions . Margin Term Loan- I to IV- NIL Term Loan VI- 20% on Plant & machinery Cash Credit- 25% of Stock and book debts Extent and
operation of the charge Charge will remain in operation till the repayment of loan amount in full. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
Stock of raw material, book debts, semi finished good, finished goods like
steel, castings, spears, plant and machinery, packing materials and stores
all the present future book debts, monies, receivables, claims, contracts.
All the tangible movable machinery,
plant, cranes, boats All above situated at Plot no. G- 9 & 10, MIDC
Shiroli Kolhapur |
FIXED ASSETS
- Land
- Building
- Plant and machinery
- Moulding Boxes
- Scooter
- Vehicle
- Furniture and Fixture
- Computer
- Electric Installation
- Car
- Office Equipments
- Testing Equipments
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.50.57 |
|
|
1 |
Rs.79.57 |
|
Euro |
1 |
Rs.66.50 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.