MIRA
INFORM REPORT
|
Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUPREME POLYTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-2, Jai Shreesiddhivinayak Co-Operative Housing Society Limited, Shivaji
Nagar, Naupada, Thane – 400 602, |
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Country : |
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|
|
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Financials (as
on) : |
31.03.2010 |
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|
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|
Date of
Incorporation : |
27.01.2007 |
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|
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|
Com. Reg. No.: |
11-167345 |
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|
Capital Investment
/ Paid-up Capital : |
Rs.0.100
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29230MH2007PTC167345 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS55468A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS5812K |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer and
Trader of Chemical Adhesive. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1400 |
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|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a successor of Supreme Polymers, a partnership concern
started in the year 1999. It is an established company having moderate track. Profitability of the
company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Divya |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-25363434 |
|
Date : |
12.05.2012 |
LOCATIONS
|
Registered Office : |
G-2, Jai Shreesiddhivinayak Co-Operative Housing Society Limited,
Shivaji Nagar, Naupada, Thane – 400 602, |
|
Tel. No.: |
91-22-25363434/ 25373434 |
|
Fax No.: |
91-22-25363434 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
|
|
|
Factory : |
H-7, Gurudev Industrial Complex, Village-Sonale, Taluka Bhiwandi,
District Thane – 421 302, |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Nilesh Keshav Yelve |
|
Designation : |
Director |
|
Address : |
615, Jayshree Siddhivinayak CHS, Shivaji
Nagar, B-Cabin, Naupada, Thane - 400
602, |
|
Date of Birth/Age : |
15.09.1980 |
|
Date of Appointment : |
27.01.2007 |
|
DIN No.: |
00891639 |
|
|
|
|
Name : |
Mr. Keshav Kashiram Yelve |
|
Designation : |
Director |
|
Address : |
615, Jayshree Siddhivinayak CHS, Shivaji
Nagar, B-Cabin, Naupada, Thane - 400
602, |
|
Date of Birth/Age : |
10.01.1943 |
|
Date of Appointment : |
27.01.2007 |
|
DIN No.: |
00891655 |
KEY EXECUTIVES
|
Name : |
Ms. Divya |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Keshav Kashiram
Yelve |
|
3400 |
|
Nilesh Keshav
Yelve |
|
3300 |
|
Abhayjeet
Sakalnarayan Dube |
|
3300 |
|
Total |
|
10000 |
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
Trader of Chemical Adhesive. |
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|
|
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Terms : |
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|
Selling : |
Cash and Credit |
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|
|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers v Elder
Pharmaceutical Limited, Navi – Mumbai v
Midley Pharmaceutical Limited, v
Karnataka Antibiotics and Pharmaceutical Limited,
v
Pfizer Limited, Navi – Mumbai v
E – Merks, Taloja v
Chemitai – Rai v
Mahindra and Mahindra Jeep and Tractor Division –
Mumbai / v
Mahindra and Mahindra Engine Division – Igatpuri
/ v
Tendulkar’s Café – Owned by International
Cricketer – Mr. Tendulkar, Mumbai v
Narang Group of Hotels v
Bharat Seats, Gurgaon v
Sharda Motors, v
v
Om v
Comart Lithographers Limited, Mumbai v
Coffee Communication Solution, Mumbai v
VIP Automobiles, Kurla v
JSW Steel Limited, Tarapur, Vashind v
M. J. Biopharm Private Limited, Taloja v
Semikron Electronics Limited, Navi Mumbai v
Larsen and Toubro, Powai |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
Canara Bank, Vikhroli
Branch, Mumbai – 400 083, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Hemant Shetty and Company Chartered Accountants |
|
Address : |
Room No.5, 1st Floor, Jayshree Sahaniwas CHS Limited, 'B'
Cabin Road, Shivaji Nagar, Opposite TBZ Showroom, Near Railway Quarters,
Thane (West) – 400 602, Maharashtra, India |
|
Tel. No.: |
91-22-25421437 |
|
Mobile No.: |
91-9820402913 |
|
Income-tax
PAN of auditor or auditor's firm : |
ASHPS8969F |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital : Rs.0.500 million
Issued, Subscribed & Paid-up Capital : Rs.0.500
million
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
|
|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.254 |
0.084 |
0.031 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
0.354 |
0.184 |
0.131 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.483 |
4.699 |
5.561 |
|
|
2] Unsecured Loans |
0.075 |
0.450 |
0.800 |
|
|
TOTAL BORROWING |
3.558 |
5.149 |
6.361 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.912 |
5.333 |
6.492 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
0.996 |
2.340 |
2.712 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.005 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.805
|
1.841 |
1.700 |
|
|
Sundry Debtors |
1.032
|
0.963 |
1.012 |
|
|
Cash & Bank Balances |
0.750
|
0.690 |
0.674 |
|
|
Other Current Assets |
0.317
|
0.000 |
0.072 |
|
|
Loans & Advances |
0.911
|
1.284 |
1.559 |
|
Total
Current Assets |
4.815
|
4.778 |
5.017 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.504
|
1.368 |
1.064 |
|
|
Other Current Liabilities |
0.338
|
0.386 |
0.147 |
|
|
Provisions |
0.087
|
0.060 |
0.058 |
|
Total
Current Liabilities |
1.929
|
1.814 |
1.269 |
|
|
Net Current Assets |
2.886
|
2.964 |
3.748 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.025 |
0.029 |
0.032 |
|
|
|
|
|
|
|
|
TOTAL |
3.912 |
5.333 |
6.492 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Income |
11.325 |
NA |
NA |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
11.325 |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
10.883 |
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
10.883 |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.442 |
0.321 |
0.408 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.190 |
0.206 |
0.304 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.252 |
0.115 |
0.104 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.087 |
0.060 |
0.058 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.165 |
0.055 |
0.046 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.50 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.46
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.34
|
1.62 |
1.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.71
|
0.63 |
0.79 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
15.50
|
37.84 |
58.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.50
|
2.63 |
3.95 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 one year |
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 |
Yes |
|
19) Payments
terms |
Yes |
|
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 |
No |
|
30) Major Shareholders,
if available |
Yes |
Note:
The registered office of the company has been shifted from 123, Veena Industrial Estate, L.B.S. Marg, Vikroli (West), Mumbai – 400 083, Maharashtra to the present address w.e.f. 25.05.2011.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29230MH2007PTC167345 |
|
Name of the
company |
SUPREME POLYTECH PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
G-2, Jai Shreesiddhivinayak Co-Operative Housing Society Limited,
Shivaji Nagar, Naupada, Thane – 400 602, E-Mail: hemantshettyco@yahoo.co.in |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10088995 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Canara Bank,
Vikhroli Branch, Mumbai – 400 083, E-Mail: kamalax_saraf@hotmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement |
|
Date of
instrument Creating the charge |
07.02.2012 |
|
Amount secured by
the charge |
Rs.5.200 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 5% p.a. above
/below ongoing benchmark PLR with a minimum of 15.75% p.a. compounded Terms of
Repayment: As per sanction
terms Margin: As per sanction
terms Extent and
Operation of the charge: As per sanction
terms |
|
Short particulars
of the property charged |
The whole of the
borrowers present and future stocks of raw materials, goods in process of
manufacture and all finished and manufactured goods and articles such as
epoxy resin, expoxy reactive, polyster, palgamine, quartz etc. together with
all stores, components and spares which now belong to or may hereafter from
time to time during the continuance of this security, belong to the borrower
and which area or shall or may be
brought into stored or be in or upon or about the borroers factory, godowns
and or other premises at Plot No.11 and 12 Survey No.134 and 137, Bhiwandi,
Thane. All of the
borrower's present and future book debts, outstanding monies, receivables,
claim, bills, rights to or immovable properties and movable assets and which
are not due, owing or payable or belonging to the borrower or which may at
any time hereafter during the continuance of this security become due, owing,
payable or belonging to the borrower in the course of its business. Machinery such
as: brand new batch type sand mill
high speed with chain pully tube filling machinery situated at Shade No.19,
Gala No.1, Shri Arihant Compound Village, Kalhar, Bhiwandi, Thane. |
|
Date of latest
modification prior to the present modification |
26.07.2010 |
|
Particulars of
the present modification |
Now by the
present modification dated 07.02.2012 the credit facilities increased from
Rs.4.500 millions to Rs.5.200 millions. |
FIXED ASSETS:
v
Computers and Printers
v
Furniture and Fixtures
v
Plant and Machinery
v
Office Premises
v
Factory Premises
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.53.71 |
|
|
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.69.23 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.