MIRA
INFORM REPORT
|
Report Date : |
12.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAMWHA INDIA ENERGY SAVINGS PRIVATE LIMITED |
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Registered
Office : |
A-100, Ground Floor, Sector 65, Gautam Budh Nagar, Noida-201301, Uttar
Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
30.11.2009 |
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Com. Reg. No.: |
55-196437 |
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Capital Investment
/ Paid-up Capital : |
Rs.1.500 Millions |
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CIN No.: [Company Identification
No.] |
U31901DL2009PTC196437 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS40163E |
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PAN No.: [Permanent Account No.] |
AANCS6266Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Energy Saving, Electronic and Electrical Components and
Products. |
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No. of Employees
: |
06 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 7000 |
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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 wiping off the accumulated losses of previous year. 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Navin Jain |
|
Designation : |
Assistant Manager |
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Contact No.: |
91-120-4523800 |
|
Date : |
27.02.2012 |
LOCATIONS
|
Registered Office : |
A-100, Ground Floor, Sector 65, Gautam Budh Nagar, Noida-201301, Uttar
Pradesh, India |
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Tel. No.: |
91-120-4523800/7 |
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Fax No.: |
91-120-4282488 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Jae Ho Roh |
|
Designation : |
Director |
|
Address : |
A 1/81, Safdarjung Enclave, New Delhi-110029, India |
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Date of Birth/Age : |
18.01.1970 |
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Date of Appointment : |
30.11.2009 |
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DIN No.: |
02742116 |
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|
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Name : |
Mr. Back Sik Shin |
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Designation : |
Director |
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Address : |
Olympic Village $ Press Village Apartments, 105-1001, 89 (2/1)
Bangi-Dong Songpa- Gu, Seoul-138050, South Korea |
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Date of Birth/Age : |
05.03.1947 |
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Date of Appointment : |
30.11.2009 |
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DIN No.: |
02713841 |
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|
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Name : |
Mr. Ho Jin Hwang |
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Designation : |
Director |
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Address : |
Palmspring Apartment, 128-2202, 283 (20/15) Adong-Dong, Gyeonggi-Do,
Paju Si-413020, South Korea |
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Date of Birth/Age : |
25.03.1949 |
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Date of Appointment : |
30.11.2009 |
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DIN No.: |
02713849 |
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Name : |
Mr. Jinbae Hong |
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Designation : |
Additional Dirctor |
|
Address : |
A 100, Sector – 65, Gautam Budh Nagar, Noida – 201301, |
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Date of Birth/Age : |
18.05.1955 |
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Date of Appointment : |
16.08.2011 |
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DIN No.: |
03612099 |
KEY EXECUTIVES
|
Name : |
Mr. Navin Jain |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Samwha Electric Company Limited, |
|
75000 |
|
Samwha Capacitor Company Limited, |
|
75000 |
|
Total |
|
150000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Energy Saving, Electronic and Electrical Components and
Products. |
|
|
|
|
Products : |
Samwha Capacitor
Samwha Electric
Samwha Electronics
Samwha Telecom
Korea JCC
|
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
OEM’s
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No. of Employees : |
06 (Approximately) |
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Bankers : |
Shinhan Bank, Connaught Place Branch, Delhi, India |
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Banking
Relations : |
-- |
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Auditor 1 : |
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Name : |
VA Mehta and Company Chartered Accountants |
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Address : |
409-409A, 4th Floor, |
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Tel. No.: |
91-11-26470003 |
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Fax No.: |
91-11-46705533 |
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E-Mail : |
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Website: |
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PAN.: |
AAAPM4504D |
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Auditor 2 : |
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Name : |
U K Mehta and Company Chartered Accountants |
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Address : |
Noida, Uttar Pradesh, India |
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Parent Company : |
Samwha Capacitor Group |
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Related Parties : |
· Samwha Capacitor Company Limited, Korea · Samwha Electric Company Limited., Korea |
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Associates : |
· Samwha Electronics Company Limited, China · Samwha Electronics Company Limited, Korea · Samwha Thailand Company Limited, Thailand · PT Samwha Indonesia · PT Samcon Indonesia |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
1.500
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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.500 |
1.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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|
3] Reserves & Surplus |
|
0.323 |
0.169 |
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4] (Accumulated Losses) |
|
0.000 |
(0.593) |
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NETWORTH |
|
1.823 |
1.076 |
|
|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
1.823 |
1.076 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.365 |
0.169 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.083 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
Inventories |
|
0.000
|
0.000 |
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Sundry Debtors |
|
1.489
|
1.173 |
|
|
Cash & Bank Balances |
|
0.491
|
0.166 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
0.458
|
0.000 |
|
Total
Current Assets |
|
2.438 |
1.339 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.485
|
0.432 |
|
|
Other Current Liabilities |
|
0.487
|
0.000 |
|
|
Provisions |
|
0.091
|
0.000 |
|
Total
Current Liabilities |
|
1.063 |
0.432 |
|
|
Net Current Assets |
|
1.375 |
0.907 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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|
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TOTAL |
|
1.823 |
1.076 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
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|
SALES |
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Income |
|
10.974 |
2.804 |
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Other Income |
|
0.023 |
0.000 |
|
|
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TOTAL |
|
10.997 |
2.804 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
|
10.223 |
3.397 |
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PROFIT / (LOSS)
BEFORE TAX |
|
0.774 |
(0.593) |
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Less |
TAX |
|
0.008 |
0.000 |
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PROFIT / (LOSS) AFTER TAX |
|
0.766 |
(0.593) |
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TOTAL EARNINGS |
|
10.974 |
2.804 |
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|
|
|
Earnings Per
Share (Rs.) |
|
5.11 |
(11.82) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
6.97 |
(21.15) |
|
|
|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
7.05 |
(21.15) |
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
27.61 |
(39.32) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.42 |
(0.55) |
|
|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.58 |
0.40 |
|
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.29 |
3.10 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
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 |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
no |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
Note : The Registered Office has been shifted from
“409, International Trade Tower, Nehru Place, New Delhi – 110019, India” to “703, 7th
Floor, Kailash Building, Kasturba Gandhi Marg, New Delhi-110001, India”
w.e.f.01.09.2011. The registered address of the company again shifted from
“703, 7th Floor, Kailash Building, Kasturba Gandhi Marg, New
Delhi-110001, India” to the present address.
Fixed Assets:
·
Office Equipments
·
Computers
·
Furniture and Fixtures
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 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.