|
Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
S S TECHNO SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.11.2000 |
|
|
|
|
Com. Reg. No.: |
11-015520 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.135 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN2000PTC015520 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Dryers and Evaporators |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 187000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 (General Details)
|
Name : |
Ms. Megha |
|
Designation : |
Office Executive |
|
Contact No.: |
91-20-24271775 |
|
Date : |
15.03.2012 |
LOCATIONS
|
Registered Office : |
301, |
|
Tel. No.: |
91-20-24271775 |
|
Fax No.: |
91-20-24274360 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Located at :
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Shripad Madhav Khatav |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Building No. 1, Damodar Housing Society, Bibwewadi, Pune –
411037, |
|
Date of Birth/Age : |
17.08.1960 |
|
Date of Appointment : |
08.11.2000 |
|
DIN No.: |
00496510 |
|
|
|
|
Name : |
Mrs. Smita Shripad Khatav |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Building No. 1, Damodar Housing Society, Bibwewadi, Pune –
411037, |
|
Date of Birth/Age : |
20.08.1962 |
|
Date of Appointment : |
08.11.2000 |
|
DIN No.: |
00496527 |
KEY EXECUTIVES
|
Name : |
Ms. Megha |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Shripad Madhav Khatav |
|
10400 |
|
Smita Shripad Khatav |
|
3100 |
|
TOTAL |
|
13500 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Dryers and Evaporators |
|
|
|
|
Products: |
Processing Equipments |
|
|
|
|
Exports : |
|
|
Products : |
Dryers and Evaporators |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C. Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Manufacturer |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
100 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Yeravdekar and Ranade Chartered Accountant |
|
Address : |
96/16, Navi Peth, Rajendra Nagar, Near Sachin Tendulkar Jogging Track,
Pune – 411030, Maharashtra, India |
|
PAN.: |
AAAFY0772F |
|
|
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13500 |
Equity Shares |
Rs.10/- each |
Rs.0.135
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.135 |
0.135 |
0.135 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
46.534 |
18.689 |
6.303 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
46.669 |
18.824 |
6.438 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
26.408 |
10.847 |
2.666 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
26.408 |
10.847 |
2.666 |
|
|
DEFERRED TAX LIABILITIES |
0.096 |
0.071 |
0.131 |
|
|
|
|
|
|
|
|
TOTAL |
73.173 |
29.742 |
9.235 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.863 |
18.051 |
8.932 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.561
|
13.830 |
7.303 |
|
|
Sundry Debtors |
47.660
|
20.096 |
7.488 |
|
|
Cash & Bank Balances |
85.099
|
68.189 |
26.114 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
22.982
|
6.445 |
5.104 |
|
Total
Current Assets |
173.302
|
108.560 |
46.009 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
65.182
|
25.213 |
10.361 |
|
|
Other Current Liabilities |
49.043
|
45.350 |
27.176 |
|
|
Provisions |
31.767
|
26.306 |
8.169 |
|
Total
Current Liabilities |
145.992
|
96.869 |
45.706 |
|
|
Net Current Assets |
27.310
|
11.691 |
0.303 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
73.173 |
29.742 |
9.235 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
554.098 |
199.928 |
84.043 |
|
|
|
Other Income |
4.971 |
2.823 |
1.342 |
|
|
|
TOTAL (A) |
559.069 |
202.751 |
85.385 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
362.468 |
113.553 |
48.672 |
|
|
|
Labour and Job work
charges |
24.467 |
7.831 |
2.231 |
|
|
|
Transport and Octroi
|
7.237 |
2.538 |
0.969 |
|
|
|
Excise Duty |
16.632 |
4.413 |
2.842 |
|
|
|
Salary and wages |
11.880 |
6.911 |
4.299 |
|
|
|
Site Expenses |
2.139 |
1.379 |
1.316 |
|
|
|
Traveling and conveyance |
6.695 |
4.005 |
2.286 |
|
|
|
Postage and telephone
expenses |
0.805 |
0.519 |
0.345 |
|
|
|
Printing and stationery |
0.802 |
0.587 |
0.276 |
|
|
|
Directors remuneration |
3.006 |
3.000 |
2.400 |
|
|
|
Professional and
Consultation fees |
3.306 |
1.552 |
0.241 |
|
|
|
Factory Expenses |
1.042 |
0.000 |
0.003 |
|
|
|
Office Expenses |
0.418 |
0.529 |
0.303 |
|
|
|
Electricity charges |
0.415 |
0.241 |
0.172 |
|
|
|
Insurance |
0.603 |
0.296 |
0.112 |
|
|
|
Advertisement and
Exhibition Expenses |
0.824 |
0.418 |
0.398 |
|
|
|
Rent, Rates and taxes |
1.455 |
0.801 |
0.639 |
|
|
|
Repairs and maintenance |
0.545 |
0.297 |
0.255 |
|
|
|
Books and periodicals |
0.175 |
0.082 |
0.041 |
|
|
|
Staff Welfare Expenses |
0.266 |
0.000 |
0.257 |
|
|
|
Sales Tax, Service Tax
and Works Contract |
18.028 |
11.147 |
3.351 |
|
|
|
Membership and
Subscriptions |
0.066 |
0.065 |
0.021 |
|
|
|
Bad Debts and w/offs |
24.763 |
0.863 |
2.141 |
|
|
|
Auditors Remuneration |
0.208 |
0.100 |
0.090 |
|
|
|
Bank charges and Interest |
3.098 |
0.581 |
0.627 |
|
|
|
Donations |
0.012 |
0.000 |
0.001 |
|
|
|
Commission Paid |
5.779 |
0.600 |
0.000 |
|
|
|
TOTAL |
497.134 |
162.308 |
74.288 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
61.935 |
40.442 |
11.097 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.527 |
1.670 |
1.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
59.408 |
38.772 |
9.784 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
20.000 |
14.500 |
3.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
39.408 |
24.272 |
6.684 |
|
|
|
|
|
|
|
|
|
|
Income Tax for Earlier Year |
0.000 |
(0.140) |
0.000 |
|
|
|
Deferred Tax for the Year |
(0.025) |
0.000 |
(0.225) |
|
|
|
Provision for IT Written off |
0.229 |
0.000 |
0.071 |
|
|
|
Provision for Deferred Tax |
0.000 |
0.060 |
0.014 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.239 |
0.853 |
0.362 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5.000 |
5.000 |
1.000 |
|
|
|
Proposed Dividend |
10.125 |
10.125 |
4.320 |
|
|
|
Tax on Dividend |
1.643 |
1.681 |
0.734 |
|
|
BALANCE CARRIED
TO THE B/S |
31.083 |
8.239 |
0.853 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2919.00 |
1797.93 |
495.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.05
|
11.97 |
7.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.72
|
19.39 |
7.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.11
|
30.62 |
17.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.27
|
2.06 |
1.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.69
|
5.72 |
7.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.12 |
1.01 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors
|
Particulars |
31.03.2011
|
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
65.182
|
25.213 |
10.361 |
|
|
|
|
|
|
Check list by Info Agents |
Available in Reports ( Yes/No) |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
-- |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
No |
|
-- |
|
No |
|
Yes |
|
No |
|
No |
|
No |
|
Yes |
|
Yes |
|
-- |
|
-- |
|
Yes |
|
No |
|
-- |
|
-- |
|
No |
|
-- |
|
-- |
|
-- |
Working Result
During the Eleventh Year of Operations of the company
the company has achieved total turnover of Rs.554.098 Millions (Previous Year
Rs.199.228 millions) and the company has earned profit of Rs.39.408 millions
(Previous Year Rs.24.272 Millions) during the period after charging for
depreciation and taxation. Considering good order booking positions, directors
are confident to achieve better performance on coming year also.
Form 8
|
Corporate
identity number of the company |
U74999PN2000PTC015520 |
|
Name of the
company |
S S TECHNO SERVICES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
301, Email: sstechno@vsnl.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India,
Dr Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India Email: dlbbcadmum@yesbank.in |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated October 12, 2011 |
|
Date of instrument
Creating the charge |
12.10.2011 |
|
Amount secured by
the charge |
Rs.50.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Bank Guarantee
(BG): 1.50% pa Cash Credit (CC)
(Sub limit of BG): 2.75% above YBLBR, BR is 10.25% hence ROI is 13.00% Letter of Credit
(LC) (Sub limit of BG): 1.50% pa Terms of Repayment Bank Guarantee
(BG): At the end of tenure (Tenure: 36 months ) Cash Credit (CC) (Sub
limit of BG): On Demand/Annual Review Letter of Credit
(LC) (Sub limit of BG): At the end of tenure (Tenure: 120 days) Margin 25% Extent and Operation of the charge Exclusive charge
on Current Assets and moveable fixed assets (including Plant and Machinery,
Equipment not financed) to cover following facilities Bank Guarantee
(BG): Rs.50.000 Millions Cash Credit (CC)
(Sub limit of BG): Rs.50.000 Millions Letter of Credit
(LC) (Sub limit of BG): Rs.25.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Exclusive charge
on Current Assets and moveable fixed assets (including Plant and Machinery,
Equipment not financed) to cover following facilities Bank Guarantee
(BG): Rs.50.000 Millions Cash Credit (CC)
(Sub limit of BG): Rs.50.000 Millions Letter of Credit
(LC) (Sub limit of BG): Rs.25.000 Millions |
Fixed Assets
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.50.31 |
|
|
1 |
Rs.79.05 |
|
Euro |
1 |
Rs.65.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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.