|
Report Date : |
09.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SALASAR TECHNO ENGINEERING PRIVATE LIMITED (w.e.f. 13.06.2006) |
|
|
|
|
Formerly Known As : |
SALASAR PETROCHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
22, Community Centre, 2nd Floor, Phase – I, Mayapuri, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.10.2001 |
|
|
|
|
Com. Reg. No.: |
174076 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.48.757 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201DL2001PTC174076 |
|
|
|
|
Legal Form : |
Private limited Liability Company |
|
|
|
|
Line of Business
: |
Marketing and Laisoning Services |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1689160 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms an 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
22, Community Centre, 2nd Floor, Phase – I, Mayapuri, New
Delhi – 110064, Delhi, India |
|
E-Mail : |
|
|
|
|
|
Head Office : |
G-276, RICCO Industrial Area, Bhiwari, Alwar-301010, |
|
|
|
|
Corporate Office : |
KL-46, Kavi Nagar, Ghaziabad-201002, |
|
Tel. No.: |
91-120-6546670 |
|
Fax No.: |
91-120-4110439 |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Alok Kumar |
|
Designation : |
Director |
|
Address : |
KL-46, Kavi Nagar, Ghaziabad-201001, Uttar Pradesh |
|
Date of Birth/Age : |
16.06.1955 |
|
Date of Appointment : |
03.05.2006 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74899DL2005PTC143117 |
SHIKHAR FABTECH PRIVATE
LIMITED |
Director |
13/11/2005 |
13/11/2005 |
- |
Active |
NO |
|
2 |
U23201DL2001PTC174076 |
SALASAR TECHNO ENGINEERING
PRIVATE LIMITED |
Director |
03/05/2006 |
03/05/2006 |
- |
Active |
NO |
|
3 |
U29220DL2008PTC181168 |
BASE ENGINEERING PRIVATE
LIMITED |
Director |
30/09/2010 |
01/03/2010 |
- |
Active |
NO |
|
4 |
U27205DL2010PLC201399 |
SALASAR STAINLESS LIMITED |
Director |
09/04/2010 |
09/04/2010 |
- |
Active |
NO |
|
5 |
U51109UP1977PLC004510 |
GANGES CONCAST INDUSTRIES
LIMITED |
Additional director |
29/03/2012 |
29/03/2012 |
- |
Active |
NO |
|
Name : |
Mr. Gyanendra Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
06.06.1945 |
|
Date of Appointment : |
03.05.2006 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U23201DL2001PTC174076 |
SALASAR TECHNO ENGINEERING
PRIVATE LIMITED |
Director |
03/05/2006 |
03/05/2006 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Shashank Agarwal |
|
782000 |
|
Gyanendra Kumar Agarwal |
|
180500 |
|
Mithlesh Agarwal |
|
102000 |
|
Shikhar Fabtec Private Limited, Delhi |
|
492500 |
|
Shalabh Agarwal |
|
180000 |
|
Anshu Agarwal |
|
289000 |
|
Alok Kumar |
|
547000 |
|
Alok Kumar HUF |
|
10000 |
|
Shikhar Gupta |
|
138000 |
|
Taru Agarwal |
|
4000 |
|
Hill View Infrabuild Limited, Delhi |
|
1334750 |
|
Kamlesh Gupta |
|
350000 |
|
Base Engineering Private Limited, Delhi |
|
233000 |
|
More Engineering Private Limited, Delhi |
|
233000 |
|
Total |
|
4875750 |
AS ON 29.09.2011
|
Category |
Percentage |
|
Bodies corporate |
47.03 |
|
Directors or relatives of Directors |
52.97 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Marketing and Laisoning Services |
GENERAL INFORMATION
|
Bankers : |
Punjab National Bank, Sector 27, Noida – 201301, Uttar Pradesh, India |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
VAPS and Company Chartered Accountant |
|
Address : |
C-42, South Extension Part II, New Delhi – 110049, Delhi, India |
|
|
|
|
Associates: |
· Shikhar Fabtech Private Limited · Hill View Infrabuild Private Limited · Base Engineering Private Limited ·
More Engineering Private Limited |
|
|
|
|
Subsidiaries : |
Salasar Stainless Limited |
CAPITAL STRUCTURE
AS ON 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4875750 |
Equity Shares |
Rs.10/- each |
Rs.48.757
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 |
48.757 |
43.660 |
83.410 |
|
|
2] Share Application Money |
6.721 |
5.305 |
0.000 |
|
|
3] Reserves & Surplus |
366.812 |
228.947 |
114.276 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
422.290 |
277.912 |
197.686 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
319.493 |
229.100 |
109.749 |
|
|
2] Unsecured Loans |
3.794 |
63.538 |
63.821 |
|
|
TOTAL BORROWING |
323.287 |
292.638 |
173.570 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
2.781 |
|
|
|
|
|
|
|
|
TOTAL |
745.577 |
570.550 |
374.037 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
83.141 |
78.003 |
48.176 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
95.398 |
18.347 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
263.104
|
200.615 |
111.133 |
|
|
Sundry Debtors |
363.058
|
281.572 |
300.965 |
|
|
Cash & Bank Balances |
8.247
|
4.096 |
0.000 |
|
|
Other Current Assets |
71.663
|
55.788 |
24.081 |
|
|
Loans & Advances |
53.966
|
9.001 |
13.437 |
|
Total
Current Assets |
760.038
|
551.072 |
449.616 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
144.542
|
46.152 |
92.617 |
|
|
Other Current Liabilities |
24.135
|
13.311 |
18.098 |
|
|
Provisions |
24.323
|
17.409 |
13.040 |
|
Total
Current Liabilities |
193.000
|
76.872 |
123.755 |
|
|
Net Current Assets |
567.038
|
474.200 |
325.861 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
745.577 |
570.550 |
374.037 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1396.439 |
1181.389 |
1133.699 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1339.345 |
1146.438 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
57.094 |
34.951 |
30.298 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.193 |
2.907 |
1.751 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
53.901 |
32.044 |
28.547 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.731 |
10.959 |
10.208 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
41.170 |
21.085 |
18.339 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS
ADJUSTMENT |
0.156 |
0.164 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
49.277 |
28.356 |
10.018 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
90.290 |
49.277 |
28.356 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.95
|
1.78 |
1.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.39
|
5.09 |
5.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.12 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.22
|
1.33 |
1.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.94
|
7.17 |
3.63 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company
has been shifted from G-276, Industrial Area, Alwar, Bhiwadi, Rajasthan,
India to B-5, 1st Floor, Ganpati
Enclave, Ajmer Road, Madrampura, Jaipur – 302006, Rajasthan, India w.e.f.
19.05.2006
The registered office address of the company
has been shifted from B-5, 1st Floor, Ganpati Enclave, Ajmer Road,
Madrampura, Jaipur – 302006, Rajasthan, India to present address
|
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 |
|
6)
Line of Business |
Yes |
|
7)
Promoter's background |
Yes |
|
8)
No. of employees |
Yes |
|
9)
Name of person contacted |
Yes |
|
10)
Designation of contact person |
Yes |
|
11)
Turnover of firm for last three years |
Yes |
|
12)
Profitability for last three years |
Yes |
|
13)
Reasons for variation <> 20% |
-- |
|
14)
Estimation for coming financial year |
No |
|
15)
Capital in the business |
Yes |
|
16)
Details of sister concerns |
Yes |
|
17)
Major suppliers |
No |
|
18)
Major customers |
No |
|
19)
Payments terms |
No |
|
20)
Export / Import details (if applicable) |
-- |
|
21)
Market information |
-- |
|
22)
Litigations that the firm / promoter involved in |
-- |
|
23)
Banking Details |
Yes |
|
24)
Banking facility details |
Yes |
|
25)
Conduct of the banking account |
-- |
|
26)
Buyer visit details |
-- |
|
27)
Financials, if provided |
Yes |
|
28)
Incorporation details, if applicable |
Yes |
|
29)
Last accounts filed at ROC |
Yes |
|
30)
Major Shareholders, if available |
Yes |
OPERATION
During the year ending 31st March 2011, the company has achieved the turnover of Rs. 1396.439 Millions (Previous Year Rs. 1181.389 Millions) which resulted in a net profit after tax of Rs. 41.013 Millions (Previous Year Rs. 20.921 Millions).
FORM 8:
|
Corporate identity number of the company |
U23201DL2001PTC174076 |
|
Name of the company |
SALASAR TECHNO ENGINEERING PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
22, Community Centre, 2nd
Floor, Phase-I, Mayapuri, New Delhi – 110064, Delhi, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Others |
|
Particular of charge holder |
PUNJAB NATIONAL BANK |
|
Nature of instrument creating charge |
AGREEMENT OF GUARANTEE. |
|
Date of instrument Creating the charge |
23.03.2012 |
|
Amount secured by the charge |
Rs.320.000 Millions |
|
Short particulars of the property charged |
The Corporate Guarantee Given By The
Company To The Bank (Pnb ) For Credit Limit
Of Rs. 320.000 Millions Granted
By The Bank To The Borrower Company (M/S Salasar Stainless Limited) . |
|
Date of instrument modifying the charge |
16/09/2010 |
|
Particulars of the present modification |
The Corporate Guarantee Given By This Company To The Bank For Credit Limits Enhanced From Rs. 200.000 Millions To Rs
320.00 Millions ( Fund Based/ Non Fund Based
Limits Enhanced From Rs.
100.000 Millions To Rs. 150.000 Millions And Term Loan Limit Enhanced From Rs
100.000 Millions To Rs 170.000 Millions) To M/S Salasar Stainless Limited By
The Bank .Other Terms And Conditions
Remains The Same. |
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.52.85 |
|
|
1 |
Rs.85.44 |
|
Euro |
1 |
Rs.68.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--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 |
|
47 |
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.