MIRA
INFORM REPORT
|
Report Date : |
31.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAVERA AUTO COMPS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Anjali
Complex", Khadkeshwar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
11.09.1996 |
|
|
|
|
Com. Reg. No.: |
11-102506 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.186 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299MH1996PTC102506 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES09900C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS2490L |
|
|
|
|
Legal Form : |
Private limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing of Deep Draw Press Components, |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 189000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
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 DECLINED BY
|
Name : |
Mr. Pritishkumar Amitkumar Chatterjee |
|
Designation : |
Director |
|
Contact No.: |
91-9823180828 |
|
Date : |
30.03.2012 |
LOCATIONS
|
Registered Office : |
"Anjali
Complex", Khadkeshwar, |
|
Tel. No.: |
91-240-2564008 |
|
Mobile No.: |
91-9823180828 (Mr. Pritish) 91-9673991841 (Mr. Kulbhushan – Marketing Executive) |
|
Fax No.: |
91-240-2554486 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office (Engineering Division) : |
Plot No. F-2, MIDC Area, Waluj, |
|
|
|
|
Factory : |
K-88, MIDC Waluj, |
|
Tel. No.: |
91-240-2244240/ 2244243 |
|
Fax No.: |
91-240-2244240 |
|
E-Mail : |
DIRECTORS
As on 30.06.2011
|
Name : |
Mr. Ajit Moreshwar Save |
|
Designation : |
Director |
|
Address : |
"Anjali Complex", Khadkeshwar, |
|
Date of Birth/Age : |
18.02.1956 |
|
Date of Appointment : |
15.09.2002 |
|
DIN No.: |
00561875 |
|
|
|
|
Name : |
Mr. Atul Moreshwar Save |
|
Designation : |
Director |
|
Address : |
"Anjali Complex", Khadkeshwar, |
|
Date of Birth/Age : |
26.02.1962 |
|
Date of Appointment : |
11.09.1996 |
|
DIN No.: |
00562021 |
|
|
|
|
Name : |
Mrs. Tripti Pritish Chatterjee |
|
Designation : |
Director |
|
Address : |
104, Neelkant Apartment,
Golegaonkar Colony, |
|
Date of Birth/Age : |
24.06.1965 |
|
Date of Appointment : |
11.09.1996 |
|
DIN No.: |
01377624 |
|
|
|
|
Name : |
Mr. Pritishkumar Amitkumar Chatterjee |
|
Designation : |
Director |
|
Address : |
Shantiniketan
Colony, Near Shani Mandir, |
|
Date of Birth/Age : |
11.12.1962 |
|
Date of Appointment : |
15.09.2002 |
|
E-Mail: |
|
|
DIN No.: |
01296030 |
KEY EXECUTIVES
|
Name : |
Mr. Kulbhushan |
|
Designation : |
Marketing Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Fully paid-up
Shares |
|
|
|
Save Moreshwar Atul |
|
303498 |
|
Chatterjee Amitkumar Pritishkumar |
|
115000 |
|
Save Moreshwar Ajit |
|
24150 |
|
Save Moreshwar Leelawati |
|
44500 |
|
Chatterjee Pritishkumar Tripti |
|
40000 |
|
Save Dinanath Moreshwar |
|
25000 |
|
Save Ajit Meenal |
|
6500 |
|
Save Atul Anjali |
|
95500 |
|
Save Anil Anjali |
|
6500 |
|
Chatterjee Amitkumar Meera |
|
2500 |
|
Chatterjee Amitkumar |
|
9000 |
|
Dak Govind Narayan |
|
20000 |
|
Joshi Anna Chandrakant |
|
10000 |
|
Shuttari Kaushar |
|
20000 |
|
Thakur Ramesh |
|
12500 |
|
Kulkarni Madhukar |
|
9998 |
|
Integretared Automation and |
|
1 |
|
Jadhav Ashok |
|
1 |
|
|
|
1 |
|
Anjali Cinetorium Private Limited, |
|
1 |
|
Total
(A) |
|
744650 |
|
Partly paid-up
shares |
|
|
|
Indra Varun Sales Agencies Private Limited, |
|
22000 |
|
Nova Corporate Services Private Limited, |
|
28000 |
|
Total
(B) |
|
50000 |
|
|
|
|
|
Total
(A+B) |
|
794650 |
As on 30.06.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Deep Draw Press Components, |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Deogiri Nagari
Sahakari Bank Limited, Waluj Branch, Waluj, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ashok Patil and Associates Chartered Accountants |
|
Address : |
Veer Shanti, Kranti Chowk, |
|
Income-tax
PAN of auditor or auditor's firm : |
ABFPP1555R |
|
|
|
|
Group Companies : |
v
Savera Press Comps Private Limited v
Savera Precision Engg Private Limited v
Savera Mouldings Private Limited v
Savera Precision Engg (Private) Limited (Plating Unit) v
Savera Auto Comps Private Limited (Powder
Coating Division) |
CAPITAL STRUCTURE
As on 30.06.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
794650 |
Equity Shares |
Rs.10/- each |
Rs.7.696
millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.9.186 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 |
9.186 |
6.436 |
6.436 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
37.941 |
35.674 |
35.865 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
47.127 |
42.110 |
42.301 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
129.329 |
76.204 |
42.372 |
|
|
2] Unsecured Loans |
18.594 |
25.123 |
20.691 |
|
|
TOTAL BORROWING |
147.923 |
101.327 |
63.063 |
|
|
DEFERRED TAX LIABILITIES |
3.083 |
3.040 |
2.025 |
|
|
|
|
|
|
|
|
TOTAL |
198.133 |
146.477 |
107.389 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
105.064 |
96.412 |
84.033 |
|
|
Capital work-in-progress |
2.050 |
2.311 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.700 |
5.092 |
3.917 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
122.576
|
84.561 |
42.809 |
|
|
Sundry Debtors |
69.474
|
48.763 |
16.228 |
|
|
Cash & Bank Balances |
6.979
|
5.221 |
1.091 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
39.992
|
21.466 |
10.288 |
|
Total
Current Assets |
239.021
|
160.011 |
70.416 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
114.452 |
48.617 |
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
5.335
|
2.897 |
2.360 |
|
Total
Current Liabilities |
153.822
|
117.349 |
50.977 |
|
|
Net Current Assets |
85.199
|
42.662 |
19.439 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.120 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
198.133 |
146.477 |
107.389 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
732.598 |
386.535 |
129.874 |
|
|
|
Other Income |
3.490 |
1.051 |
1.401 |
|
|
|
TOTAL |
736.088 |
387.586 |
131.275 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
721.784 |
375.801 |
123.667 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
721.784 |
375.801 |
123.667 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.304 |
11.785 |
7.608 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.770 |
8.014 |
3.334 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.534 |
3.771 |
4.274 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.211 |
1.298 |
1.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.323 |
2.473 |
2.840 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.323 |
2.473 |
2.840 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
8.961 |
192.299 |
18.972 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.32
|
0.64 |
2.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.48
|
0.98 |
3.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.03
|
1.47 |
2.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.09 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.40
|
5.19 |
2.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.36 |
1.38 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors: Not Available
PERFORMANCE:
During the year, the
company has achieved net sales turnover of Rs.732.598 millions as against
Rs.386.535 millions that of preceding year, thus growth in turnover is almost
two times as compared to the preceding year.
The company's export
turnover in the preceding year was Rs.192.299 millions, where as during the year it is
increased to Rs.420.233 millions, which is ten times of the preceding year
export turnover.
Cash profit earned
by the company during the year amounts to Rs.14.304 millions as compared to
Rs.11.785 millions that of preceding year.
Growth in cash profit
is not commensurate with the growth in turnover due to the reason that, the
company could not fully utilize the export sale setup as expected export turnover could not be achieved. The
company hopes that the export turnover will be increased substantially in the
ensuing year and consequently profitability will be improved considerably.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29299MH1996PTC102506 |
|
Name of the
company |
SAVERA AUTO COMPS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
"Anjali
Complex", Khadkeshwar, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80043524 |
|
Type of charge |
Immovable
Property Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Deogiri Nagari
Sahakari Bank Limited, Waluj Branch, Waluj, E-Mail: accounts@deogiribank.com |
|
Nature of description
of the instrument creating or modifying the charge |
Indemnity -
Declaration - Confirmation. |
|
Date of
instrument Creating the charge |
14.02.2012 |
|
Amount secured by
the charge |
Rs.200.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 1. Interest @13%
or as may be fixed by the Bank or RBI from time to time. 2. Lead Bank
Service Charges @0.50 p.a. 3. In default
liquidated damages @ 2.50% Terms of
Repayment: As specified. Margin: Margin Debtors
25%. L.C. 25%. Extent and
Operation of the charge: Till repayment. Others: Personal
guarantee of Directors / guarantors. |
|
Short particulars
of the property charged |
First charge on moveables,
stock debtors. New and old plant and machinery of Savera Auto Comps. Private
Limited situated at K-88, Waluj, and Plant and Machinery of Savera Auto
Comps. Private Limited at Plot No.57, Gut No.34, Ranjangaon, Taluka Gangapur,
District Mortgage and
First charge on A. All the piece
and parcel of the land known as Plot No.K-88 in the Waluj Industrial Area,
within the village limits of Ranjangaon and outside limits of Aurangabad
Municipal Corporation in rural area, Taluka and Reg. Sub.-District Gangapur,
District and Reg. District Aurangabad containing by adm. 2181 sq.mtrs. B. All the piece
and parcel of land Gut No.34 to the extent of 20R i.e. 2027 sq.mtrs.
alongwith any future development thereon, situated at Ranjangaon Shenpunji,
Tq.Gangapur, District Aurangabad. C. All that piece
and parcel of Plot No.183, 188, 189, 190, 191, 196 and 197 situated at Gut
No.343 part. Village Satara Tq. and District Aurangabad total 7 plots totally
adm. 2161.37 sq.mtrs. alongwith future construction thereon. |
|
Date of latest
modification prior to the present modification |
13.02.2012 |
|
Particulars of
the present modification |
By present
agreements charge modified and increased to Rs.200.500 millions. |
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.51.15 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.68.34 |
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 |
YES |
|
--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.