MIRA
INFORM REPORT
|
Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHAH PRECICAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-35, MIDC Kupwad Block, |
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Country : |
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|
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
16.06.1997 |
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|
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|
Com. Reg. No.: |
11-108807 |
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Capital
Investment / Paid-up Capital : |
Rs.4.150
millions |
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|
|
CIN No.: [Company Identification
No.] |
U28910MH1997PTC108807 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPS05500F |
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PAN No.: [Permanent Account No.] |
AAECS8077J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Valve Pump. |
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|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 278000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. There
appears some losses being incurred by the company in the year 2009-10.
However, networth appears to be satisfactory. 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 dealing 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 DECLINED BY
|
Name : |
Mr. Nitin Rasiklal Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9822066557 |
|
Date : |
17.03.2012 |
LOCATIONS
|
Registered Office/Factory: |
E-35, MIDC Kupwad Block, |
|
Tel. No.: |
91-233-2264484 / 2644845 / 2645611 / 2643932 |
|
Mobile No : |
91-9922588399 (Mr. Sanjeev Prasanna) 91-9822066557 (Mr. Nitin Shah) |
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Fax No.: |
91-233-2645612 |
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E-Mail : |
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|
Website : |
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|
Area : |
3000 Sq. mtr. |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Nitin Rasiklal Shah |
|
Designation : |
Director |
|
Address : |
Flat No.2, Venkatesh Tulsi Apartments, Opposite Trikoni Baug, Civil |
|
Date of Birth/Age : |
30.03.1961 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
16.06.1997 |
|
PAN No : |
ACZPS9035J |
|
DIN No.: |
00818517 |
|
|
|
|
Name : |
Mrs. Sunita Nitin Shah |
|
Designation : |
Director |
|
Address : |
Flat No.2, Venkatesh Tulsi Apartments, Opposite Trikoni Bag, Sangli –
416 416, |
|
Date of Birth/Age : |
19.05.1967 |
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Qualification : |
Post Graduate |
|
Date of Appointment : |
02.02.2005 |
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DIN No.: |
01955266 |
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|
|
|
Name : |
Mr. Ashok Moreshwar Phadke |
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Designation : |
Director |
|
Address : |
1047/B/6, Topaz Society, Behind Mafatlal Bunglow, Shivaji Nagar, Pune
– 411 016, |
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Date of Birth/Age : |
14.07.1942 |
|
Qualification : |
BE |
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Date of Appointment : |
02.02.2005 |
|
DIN No.: |
00818586 |
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|
|
|
Name : |
Mr. Kotresh Thippanna Oblapura |
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Designation : |
Director |
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Address : |
Flat No.2, First Flooe Anurag Balaji, Arcade, Vishrambag, Sangli, |
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Date of Birth/Age : |
01.08.1962 |
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Date of Appointment : |
25.10.2005 |
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Date of Ceasing : |
10.09.2011 |
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DIN No.: |
01955285 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Nitin Shah |
|
343500 |
|
Rasiklal Shah |
|
25850 |
|
Nitin Rasiklal Shah (HUF) |
|
10000 |
|
Kumudini Shah |
|
3100 |
|
Sunita Shah |
|
12250 |
|
Subhash K. Vakhariya |
|
7000 |
|
Shashikala S. Vakhariya |
|
1800 |
|
Shilpa R. Shah |
|
2500 |
|
Pradip M. Shah |
|
3000 |
|
Nilesh M. Shah |
|
3000 |
|
Ravindra P. Shah |
|
3000 |
|
Total |
|
415000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Valve Pump. |
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|
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PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Steel, ST. Steel, Slag |
M.T. |
1237.12 |
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|
|
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GENERAL INFORMATION
|
No. of Employees : |
20 (Approximately) |
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Bankers : |
v Axis Bank Limited, Trishul 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad – 380 006, Gujarat, India v Axis Bank Limited, Azad Chowk, Amrai Road, Opposite Collector’s Bunglow, Sangli – 416 416, Maharashtra, India v HDFC Bank v The Shamrao Vitthal Co-Operative Bank Limited v Canara Bank v The Saraswat Co-Operative Bank v Bank of Baroda, Miraj Branch, P.B. No.20, High School Road, Miraj – 416 410, Maharashtra, India v
Union Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
P.V. Kulkarni and Company Chartered Accountants |
|
Address : |
Shri Vasudeo Chintan, Vishrambag, Sangli – 416 415, |
|
Tel. No.: |
91-233-2300305 |
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Fax No.: |
91-233-2300305 |
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Income-tax
PAN of auditor or auditor's firm : |
ABIPK8416B |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
415000 |
Equity Shares |
Rs.10/- each |
Rs.4.150
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.150 |
4.150 |
4.150 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
65.371 |
79.425 |
59.999 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
69.521 |
83.575 |
64.149 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
243.415 |
114.189 |
81.680 |
|
|
2] Unsecured Loans |
7.067 |
7.067 |
7.067 |
|
|
TOTAL BORROWING |
250.482 |
121.255 |
88.747 |
|
|
DEFERRED TAX LIABILITIES |
7.692 |
1.755 |
1.819 |
|
|
|
|
|
|
|
|
TOTAL |
327.695 |
206.586 |
154.715 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
142.073 |
43.193 |
33.709 |
|
|
Capital work-in-progress |
12.785 |
9.562 |
0.701 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.776 |
0.101 |
0.101 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
111.110
|
76.409
|
101.340
|
|
|
Sundry Debtors |
76.714
|
87.545
|
84.965
|
|
|
Cash & Bank Balances |
20.012
|
23.537
|
2.399
|
|
|
Other Current Assets |
0.350
|
0.050
|
0.041
|
|
|
Loans & Advances |
54.280
|
43.955
|
28.291
|
|
Total
Current Assets |
262.466
|
231.496 |
217.036 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
56.660
|
42.576
|
66.523
|
|
|
Other Current Liabilities |
0.967
|
1.221
|
2.187
|
|
|
Provisions |
34.795
|
34.001
|
28.179
|
|
Total
Current Liabilities |
92.422
|
77.798 |
96.889 |
|
|
Net Current Assets |
170.044
|
153.698
|
120.147
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.017 |
0.032 |
0.057 |
|
|
|
|
|
|
|
|
TOTAL |
327.695 |
206.586 |
154.715 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales |
252.793 |
399.671 |
480.686 |
|
|
|
Other Income |
13.751 |
7.812 |
|
|
|
|
Increase/ Decrease in Stock |
18.392 |
0.574 |
|
|
|
|
TOTAL |
284.936 |
408.057 |
480.686 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
284.416 |
374.244 |
423.199 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
284.416 |
374.244 |
423.199 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.520 |
33.813 |
57.487 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.632 |
4.285 |
2.895 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(8.112) |
29.528 |
54.592 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.942 |
10.102 |
18.564 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
(14.054) |
19.426 |
36.028 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
79.425 |
59.999 |
23.971 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
65.371 |
79.425 |
59.999 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
74.924 |
60.715 |
54.087 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
|
|
|
|
- Import |
21.652 |
39.845 |
86.636 |
|
|
|
- Highseas |
0.000 |
0.000 |
2.786 |
|
|
TOTAL IMPORTS |
21.652 |
39.845 |
89.422 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(33.87) |
46.81 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(4.93)
|
4.76
|
7.71
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.21)
|
7.39 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.01)
|
10.75
|
21.77
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12)
|
0.35
|
0.85
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.93
|
2.38
|
1.51
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.84
|
2.97
|
2.24
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Creditors for
Goods |
31.123 |
37.299 |
62.885 |
|
Creditors for
Expenses |
6.469 |
4.307 |
3.164 |
|
Creditors for
Fixed Assets |
19.068 |
0.970 |
0.474 |
|
Total |
56.660 |
42.576 |
66.523 |
Note:
The Registered Address of the company has been shifted from A-22, Shri Ram
Apartment Opposite Ram Mandir, Nadives Road, Ichalkaranji – 416 115,
Maharashtra, India to the present address w.e.f. 22.01.2007.
FUTURE OUTLOOK AND MARKET CONDITIONS:
Due to
recessionary conditions in the economy and general slowdown in the global
markets; total turnover of the company has decreased as compared to previous
year. The management is hopeful that on an improved general economic scenario
company could witness further increase in the turnover of the company in the
coming future.
FORM NO. 8
|
Corporate
identity number of the company |
U28910MH1997PTC108807 |
|
Name of the
company |
SHAH PRECICAST PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
E - 35, MIDC Kupwad Block, E-Mail: san_tanan@sancharnet.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable Property Any interest in Immovable Property Book Debts Movable property (not being pledge)
|
|
Particular of
charge holder |
Bank of Baroda, Miraj Branch, P.B. No.20, High School Road, Miraj –
416 410, Maharashtra, India E-Mail: miraj@bankofbaroda.com |
|
Nature of
instrument creating charge |
Composite Hypothecation Agreement. |
|
Date of
instrument Creating the charge |
06.01.2011 |
|
Amount secured by
the charge |
Rs.61.800 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per norms of bank for export finance Terms of Repayment: ADHOC limit for a period of 6 months Margin: 10% Extent and Operation of the charge: The charge shall remain in operation till the satisfaction of
principle, interest, charges and other costs accrued thereon. |
|
Short particulars
of the property charged |
The whole of borrower's stocks both present and future and including
all stocks of raw materials, work-in-process, semi-finished and finished
goods, packing materials and stores etc. All the present and future book debts, outstanding moneys,
receivables, claims, bills, contracts, engagements and securities. All the tangible moveable machinery, plant, cranes, boats, crafts and
the vehicles of borrower together with spares, tools, accessories and other
moveables both present and future. Furniture, fixtures, fittings and office equipments whether installed
or not, whether loose or stored. |
FIXED ASSETS:
v Land
v Building
v Plant and Machinery
v Furniture
v Office Equipment
v Computer
v Car
v Motor Cycle
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.50.12 |
|
|
1 |
Rs.79.37 |
|
Euro |
1 |
Rs.66.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.