MIRA
INFORM REPORT
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Report Date : |
09.03.2012 |
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Tel. No.: |
91-233-2644675 |
IDENTIFICATION DETAILS
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Name : |
SUYESH IRON AND STEELS PRIVATE LIMITED |
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Registered
Office : |
Plot No C – 62 MIDC Miraj, Sangli – 416410, Maharashtra, India |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
13.04.2007 |
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Com. Reg. No.: |
25-129953 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U27106PN2007PTC129953 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNES27736C |
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PAN No.: [Permanent Account No.] |
AAKCS8029C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of C.I Casting |
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No. of
Employees: |
100 (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 40000 |
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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 an established company having moderate track. The company
has been successful in wipping - off the accumulated losses of the previous
year. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for small business dealings with some
caution. |
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. Sanjay Magdum (Accounts Department) |
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Contact No.: |
91-233-2644675 |
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Date : |
07.03.2012 |
LOCATIONS
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Registered Office / Factory : |
Plot No C – 62 MIDC Miraj, Sangli – 416410, Maharashtra, India |
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Tel. No.: |
91-233-2644675 |
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Fax No: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Leased |
DIRECTORS
(As on 30.09.2010)
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Name : |
Mr. Popat Maruti Jagtap |
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Designation : |
Director |
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Address : |
Kale Plot, Kuchi Road, A/P Kavathemahankal, District. Sangli – 416405,
Kavathemahankal, Maharashtra, India |
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Date of Birth/Age : |
01.06.1971 |
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Date of Appointment : |
13.04.2007 |
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DIN No: |
01717906 |
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Name : |
Mr. Gundu Vithoba Erandole |
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Designation : |
Director |
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Address : |
A/P Manerajuri, Taluka Tasgaon, district. Sdangli – 416408,
Manerajuri, Maharashtra, India |
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Date of Birth/Age : |
15.08.1972 |
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Date of Appointment : |
13.04.2007 |
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DIN No: |
01717932 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
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Names of Shareholders |
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No. of Shares |
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Mr. Popat Maruti Jagtap |
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500 |
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Mr. Gundu Vithoba Erandole |
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500 |
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Total |
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1,000 |
(AS ON 30.09.2010)
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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 : |
Manufacturer of C.I Casting |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Manufacturing Company |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V.T. and Associates Chartered Accountants |
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Address : |
2, Minakshi Arcade, Balaji Mill Road, North shivaji Road, Sangli-
416416, Maharashtra, India |
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PAN No.: |
AAFFV3492E |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,00 |
Equity Share |
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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1,000 |
Equity Share |
Rs.100/- each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
9.915 |
9.915 |
7.419 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.503 |
(1.663) |
0.000 |
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NETWORTH |
10.518 |
8.352 |
7.519 |
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LOAN FUNDS |
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1] Secured Loans |
20.119 |
17.471 |
0.000 |
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2] Unsecured Loans |
6.798 |
4.273 |
0.145 |
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TOTAL BORROWING |
26.917 |
21.744 |
0.145 |
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DEFERRED TAX LIABILITIES |
0.675 |
0.000 |
0.000 |
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TOTAL |
38.110 |
30.096 |
7.664 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
28.285 |
25.702 |
4.511 |
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Capital work-in-progress |
2.043 |
0.000 |
0.000 |
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INVESTMENT |
0.590 |
0.580 |
0.030 |
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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 |
4.974 |
1.576 |
0.000 |
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Sundry Debtors |
17.579 |
1.037 |
2.469 |
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Cash & Bank Balances |
0.288 |
0.096 |
0.200 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
3.172 |
5.506 |
0.283 |
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Total
Current Assets |
26.013 |
8.215 |
2.952 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditor |
16.765 |
5.875 |
0.273 |
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Other Current Liabilities |
0.00 |
0.000 |
0.000 |
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Provisions |
3.268 |
0.124 |
0.000 |
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Total
Current Liabilities |
20.033 |
5.999 |
0.273 |
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Net Current Assets |
5.980 |
2.216 |
2.679 |
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MISCELLANEOUS EXPENSES |
1.212 |
1.598 |
0.444 |
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TOTAL |
38.110 |
30.096 |
7.664 |
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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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Income |
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1.690 |
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Other Income |
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0.00 |
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TOTAL (A) |
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1.690 |
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Less |
EXPENSES |
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Purchase |
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2.799 |
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Manufacturing and other expenses |
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0.295 |
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Administrative expenses |
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0.868 |
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Selling expenses |
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0.182 |
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Preliminary Expenses written off |
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0.043 |
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Pre – Operative Expenses written off |
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0.357 |
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Variation in stocks |
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(1.576) |
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TOTAL (B) |
NA |
2.968 |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
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(1.278) |
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Less |
FINANCIAL
EXPENSES (D) |
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0.385 |
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PROFIT BEFORE
TAX (E-F) (G) |
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1.663 |
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Less |
TAX (H) |
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0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
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1.663 |
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BALANCE CARRIED
TO THE B/S |
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1.663 |
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Particulars |
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31.03.2010 |
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Sales Turnover (Approximately) |
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160.000 |
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Expected sales (2011-2012) – Rs.240.000 Millions
The above information has been parted by Mr. Sanjay Magdum
KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total
Income |
(%) |
NA
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98.40 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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98.40 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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4.90 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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0.17 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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4.46
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3.32 |
0.06 |
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Current Ratio (Current Asset/Current Liability) |
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1.30
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1.37 |
10.81 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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(Rs. In Millions) |
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Sundry Creditors |
16.765 |
5.875 |
0.273 |
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Total |
16.765 |
5.875 |
0.273 |
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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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Construction
of the firm |
Yes |
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Premises
details |
Yes |
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Type
of Business |
Yes |
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Line
of Business |
Yes |
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Promoters
background |
- |
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No.
of Employees |
Yes |
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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 |
No |
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Reasons
for variation <> 20% |
No |
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Estimation
for coming financial year |
Yes |
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Capital
the business |
Yes |
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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 |
Yes |
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Export
/ Import Details [If Applicable] |
No |
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Market
Information |
- |
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Litigations
that the firm / promoter involved in |
- |
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Banking
Details |
Yes |
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Banking
Facility Details |
No |
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Conduct
of the banking account |
- |
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Buyer
visit details |
- |
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Financials,
if provided |
No |
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Incorporation
details, if applicable |
- |
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Last
accounts filed at ROC |
- |
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Major
Shareholders, if applicable |
- |
Note : The Company Started its Activity in February 2009
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27106PN2007PTC129953 |
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Name of the
company |
SUYESH IRON AND STEELS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Plot No C – 62 MIDC Miraj, Sangli – 416410, Maharashtra, India |
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This form is for |
Creation of
charge |
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Type of charge |
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Particular of
charge holder |
Small Industries Development Bank of India, Jeevan Shree Building,
Ground Floor, S.No 1109, Plot No.488, Ganeshkind Road, Near Pune, Central
Mall, Pune – 411019, Maharashtra, India |
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Nature of
instrument creating charge |
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Date of
instrument Creating the charge |
04.03.2011 |
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Amount secured by
the charge |
Rs.10.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 1.75% above
SIDBI”S PLR with monthly rests, on daily product basis, subject to change
from time to time at SIDBI”S discretion. Present Effective Rt. Being 12.75%
pa or rt. Prescribed by Bank from time to time. Terms of Repayment Repayment - on Demand. Period- The renewal of Banking facilities shall
be valid for 1 yr. i.e .till 30 Nov.2011 subject to periodical review at such
intervals as SlDBl may deem proper and on review, the Banking facilities may
be continued/ reduced / suspended / cancelled or terms and conditions thereof
may be revised at the sole discretion of SIDBI Margin Stocks 30%,Book-debts 30% Extent and Operation of the charge To Secure by way of first charge. The Charge will remain operative
till full repayment and discharge to SIDBI of its working capital limit of Rs.10.00
Millions and payment of other moneys including interest, further interest, additional interest penal
interest, costs, charges and expenses and all other monies due to SIDBI under the limit
agreement and/ or these presents others the security shall be continuing security |
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Description of
the property charged indicating whether it is a charged on |
Immovable properties |
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Short Particulars
of the property charged |
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Fixed Assets :
- MIDC Plot
- Building
- Machinery
- Electric and Fixture
- Lab Equipments
- Vehicals
- Office Computer
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.50.02 |
|
|
1 |
Rs.79.01 |
|
Euro |
1 |
Rs.66.18 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
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|
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.