|
Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAIT MINE LINE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.05.1995 |
|
|
|
|
Com. Reg. No.: |
071570 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2.439 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29245WB1995PTC071570 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS11893A / CALS07882A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS7555B |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer of Control Panel, Starter, Voice Controller, Safety
Products, Communicator, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 46024 |
|
|
|
|
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 for small to mediocre 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Dhrubo Mukerjee |
|
Designation : |
Director |
|
Contact No.: |
91-9830055580 |
|
Date : |
28.04.2012 |
LOCATIONS
|
Registered Office : |
52 Golf Club Road, 1st Floor, Kolkata 700033, West Bengal,
India |
|
Tel. No.: |
91-33-24235148 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Dhrubo Mukherjee |
|
Designation : |
Director |
|
Date of Birth/Age : |
18.11.1965 |
|
Date of Appointment : |
May, 1995 |
|
|
|
|
Name : |
Mrs. Sabita Mukherjee |
|
Designation : |
Director |
|
Date of Birth/Age : |
16.05.1931 |
|
Date of Appointment : |
01.06.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Dhrubo Mukherjee |
64000 |
|
Sulochana Mukherjee |
500 |
|
Sabita Mukherjee |
51100 |
|
Madhusree Mukherjee |
67100 |
|
Kajol Banerjee |
3200 |
|
Sait Mininl SA, France |
58030 |
|
Total
|
243930 |
AS ON 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
23.79 |
|
Directors or relatives of directors |
|
76.21 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Control Panel, Starter, Voice Controller, Safety
Products, Communicator, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Indian Overseas Bank, Lansdowne Market Branch,
63/1A, Sarat Bose Road, Kolkata 700025, West Bengal, India ·
HDFC Bank |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Arup Mullick and Associates Chartered Accountant |
|
Address : |
17, Mahendra Road, Kolkata 700025, West Bengal, India |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs. 10 each |
Rs.2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
243930 |
Equity Shares |
Rs. 10 each |
Rs.2.439 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 |
2.439 |
2.439 |
2.439 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9.067 |
7.376 |
5.140 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
11.506 |
9.815 |
7.579 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.963 |
0.034 |
0.533 |
|
|
2] Unsecured Loans |
6.862 |
6.862 |
6.862 |
|
|
TOTAL BORROWING |
7.825 |
6.896 |
7.395 |
|
|
DEFERRED TAX LIABILITIES |
0.059 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.390 |
16.711 |
14.974 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.886 |
5.758 |
5.784 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.038 |
0.021 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.005
|
0.219 |
0.155 |
|
|
Sundry Debtors |
10.497
|
12.534 |
9.144 |
|
|
Cash & Bank Balances |
2.673
|
1.377 |
1.782 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
8.978
|
8.329 |
8.741 |
|
Total
Current Assets |
25.153
|
22.459 |
19.822 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.358
|
7.423 |
8.416 |
|
|
Other Current Liabilities |
0.100
|
1.111 |
0.243 |
|
|
Provisions |
3.191
|
3.010 |
1.994 |
|
Total
Current Liabilities |
15.649
|
11.544 |
10.653 |
|
|
Net Current Assets |
9.504
|
10.915 |
9.169 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.390 |
16.711 |
14.974 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
SALES |
|
29.597 |
26.646 |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
|
26.360 |
25.322 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
3.237 |
1.324 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
1.001 |
0.466 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
2.236 |
0.858 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
0.168 |
0.642 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
9.17 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
10.93 |
4.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
11.47 |
5.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.32 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.04
|
1.87 |
2.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.94 |
1.86 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from 152, Harish Mukherjee Road, Kolkata 700025, West Bengal, India to the present address w.e.f. 02.04.2009
FIXED ASSETS:
·
Land
·
Air Conditioner
·
Plant and Machinery
·
Computer
·
Software
·
Furniture and Fixture
·
Factory Busilding
·
Office Equipments
·
Factory Equipment
·
Vehicles
FORM 8
|
Corporate
identity number of the company |
U29245WB1995PTC071570 |
|
Name of the
company |
SAIT MINE LINE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
52 Golf Club Road, 1st Floor, Kolkata 700033, West Bengal,
India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge Others |
|
Particular of
charge holder |
Indian Overseas Bank, Lansdowne Market Branch, 63/1A, Sarat Bose Road,
Kolkata 700025, West Bengal, India Email: lancebr@calmsco.iobnet.co.in |
|
Nature of
instrument creating charge |
1. Board
Resolution 2. Sanction
Letter 3. Confirmation
letter Form F379C 4. Form F110E letter of Hypothecation (for
securing machineries/ vehicles/goods/bookdebts). |
|
Date of
instrument Creating the charge |
15.12.2011 |
|
Amount secured by
the charge |
Rs. 16.529
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit -
Base Rate + 2.75% i.e. 13.50 % p.a. floating rate Term loan - Base
Rate + 2.75% i.e. 13.50 % p.a. floating rate LC /LG- As per
circular in force. Terms of repayment Cash Credit - on
Demand Term loan - The
existing term loan will be repaid in 59 EMI of Rs. 13,419 as per original sanction terms. LC/LG- As per
terms. Margin Cash Credit:
Stock - 25 % Book debt - 50 % Letter of Credit
- 25 % (Deposit Margin) Letter of
Guarantee - 25 % (Deposit Margin) Term loan - 25 % Extent and operation of the charge Exclusive first
charge on immovable property, moveable property both present and future. |
|
Short particulars
of the property charged (Including location of the property) |
Equitable
mortgaged of land and building at plot no. 25 (p), mouza chandipur, J.L. No.
9, Ulberia Industrial growth centre, Howrah, area 91.355 cottah in the name
of the company. is the lease hold property in the name of WBIIDC (Lessor) and
dt of lease is 06.01.2005 being no.140[99 years lease] to continue. Hypothecation of
all current assets both present and future. Hypothecation of
machineries purchased out of loan. Documents of
title to goods/accepted hundies and hypothecation of stocks purchased under
LC. |
|
Date of
instrument modifying the charge |
09.09.2011 |
|
Particulars of the
present modification |
By this
modification over limit has been enhanced from Rs. 7.560 millions to 16.529
millions. Detail of which are given below: Misc Cash credit
Limit: Rs. 2.000 millions to Nil. Letter of
Guarantee: Rs. 5.000 millions to 5.000
millions (renewed) Term Loan: Rs.
0.560 million to Rs. 0.529 million (renewed) OCC: Rs. Nil to
Rs. 4.000 millions (fresh) Letter of Credit:
Rs. Nil to Rs. 7.000 millions.(fresh ) Thus limit
enhance from Rs. 7.560 millions to Rs.16.529 millions. |
|
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 |
No |
|
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 |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
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 |
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 Intl
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 companys 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.53.71 |
|
|
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.69.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
This score serves as a reference to assess SCs 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.