1. Summary Information
|
|
|
Country |
|
|
Company Name |
SINGH SONS DISTRIBUTORS PRIVATE LIMITED |
Principal Name 1 |
Mr. Hardeep Singh Chharbra |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Harpeet Singh Chhabra |
|
|
|
Registration # |
53-026369 |
|
Street Address |
# 64, Sector 18-A, Chandigarh-160019, Uttaranchal |
||
|
Established Date |
15.09.2003 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Wholesalers |
|
Fax # |
Not Available |
Business Style 2 |
--- |
|
Homepage |
-- |
Product Name 1 |
Radio |
|
# of employees |
Not Available |
Product Name 2 |
Television |
|
Paid up capital |
Rs.100,000/- |
Product Name 3 |
Consumer Electronics |
|
Shareholders |
Directors or relatives of directors 99.00%, Other top
fifty shareholders 1.00% |
Banking |
Vijaya Bank |
|
Public Limited Corp. |
No |
Business Period |
9 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
31,853,000 |
Current Liabilities |
12,479,000 |
|
Inventories |
5,607,000 |
Long-term Liabilities |
22,435,000 |
|
Fixed Assets |
1,973,000 |
Other Liabilities |
632,000 |
|
Deferred Assets |
213,000 |
Total Liabilities |
35,546,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
3,730,000 |
|
|
|
Net Worth |
4,100,000 |
|
Total Assets |
39,646,000 |
Total Liab. & Equity |
39,646,000 |
|
Total Assets (Previous Year) |
28,754,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
257,676,000 |
Net Profit |
1,249,000 |
|
Sales(Previous yr) |
191,968,000 |
Net Profit(Prev.yr) |
989,000 |
|
Report Date : |
29.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SINGH SONS DISTRIBUTORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
# 64, Sector 18-A, Chandigarh-160019, Uttaranchal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
15.09.2003 |
|
|
|
|
Com. Reg. No.: |
53-026369 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51395CH2003PTC026369 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PTLS14167G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Wholesalers of Radio, Television and Consumer Electronics. |
|
|
|
|
No. of Employees
: |
Not Available |
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 16000 |
|
|
|
|
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.
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 |
LOCATIONS
|
Registered Office : |
# 64, Sector 18-A, Chandigarh-160019, Uttaranchal, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
HIG 9, Sector – 3, Parwanoo-173220, Himachal Pradesh, India |
|
Tel. No.: |
91-1792-235153 |
|
Fax No.: |
91-1792-235153 |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Hardeep Singh Chhabra |
|
Designation : |
Whole Time Director |
|
Address : |
H.No.496, Sector 21, Panchkula, Haryana – 134109, India |
|
Date of Birth/Age : |
07.04.1965 |
|
Date of Appointment : |
15.09.2003 |
|
Din No.: |
00530841 |
|
|
|
|
Name : |
Mr. Harpreet Singh Chhabra |
|
Designation : |
Whole Time Director |
|
Address : |
H.No.496, Sector 21, Panchkula, Haryana – 134109, India |
|
Date of Birth/Age : |
18.10.1970 |
|
Date of Appointment : |
15.09.2003 |
|
Din No.: |
00530859 |
|
|
|
|
Name : |
Mr. Gurtoj Singh Anish |
|
Designation : |
Whole Time Director |
|
Address : |
H.No.496, Sector 21, Panchkula, Haryana – 134109, India |
|
Date of Birth/Age : |
19.08.1990 |
|
Date of Appointment : |
22.08.2008 |
|
Din No.: |
02562300 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Hardeep Singh Chhabra |
|
2000 |
|
Harpreet Singh Chhabra |
|
2000 |
|
Satpal Singh |
|
1996 |
|
Preetinder Kaur |
|
2000 |
|
Geetu |
|
2000 |
|
Hardeep Singh (HUF) |
|
1 |
|
Beant Kaur |
|
1 |
|
Kanwaljeeet Kaur |
|
1 |
|
Uttam Kaur |
|
1 |
|
|
|
|
|
Total |
|
10000 |
As on 29.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.00 |
|
Other
top fifty shareholders |
|
1.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Wholesalers of Radio, Television and Consumer Electronics. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Vijaya Bank, Sector – 11, Panchkula-134109,
Haryana, India ·
ICICI Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rupesh Parikshit and Associates Chartered Accountants |
|
Address : |
House No.1238, Sector 22B, Chandigarh-160022, India |
|
Pan No.: |
AADFR9921Q |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 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 |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.270 |
0.270 |
0.270 |
|
|
3] Reserves & Surplus |
3.730 |
2.481 |
1.492 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.100 |
2.851 |
1.862 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.372 |
3.321 |
5.303 |
|
|
2] Unsecured Loans |
12.063 |
10.979 |
11.650 |
|
|
TOTAL BORROWING |
22.435 |
14.300 |
16.953 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
26.535 |
17.151 |
18.815 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.973 |
2.531 |
1.552 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.213 |
0.157 |
0.104 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.607
|
11.962
|
7.339
|
|
|
Sundry Debtors |
15.795
|
10.943
|
13.253
|
|
|
Cash & Bank Balances |
14.513
|
0.813
|
0.965
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
1.545
|
2.348
|
1.799
|
|
Total
Current Assets |
37.460
|
26.066
|
23.356
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11.097
|
10.168
|
0.793
|
|
|
Other Current Liabilities |
1.382
|
0.375
|
3.803
|
|
|
Provisions |
0.632
|
1.060
|
1.601
|
|
Total
Current Liabilities |
13.111
|
11.603
|
6.197
|
|
|
Net Current Assets |
24.349
|
14.463
|
17.159 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
26.535 |
17.151 |
18.815 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
257.676 |
191.968 |
135.420 |
|
|
|
Credit Notes Received |
16..626 |
15.858 |
0.000 |
|
|
|
Profit on Sale of Cars |
0.000 |
0.026 |
0.184 |
|
|
|
Income from Commission / Gifts / Incentives |
0.107 |
0.103 |
0.116 |
|
|
|
TOTAL (A) |
274.409 |
207.955 |
135.720 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
247.398 |
195.780 |
125.956 |
|
|
|
Administration Expenses |
8.231 |
7.147 |
5.173 |
|
|
|
Marketing Expenses |
6.895 |
4.701 |
3.236 |
|
|
|
Increase/Decrease in stock |
6.356 |
(4.623) |
(2.313) |
|
|
|
TOTAL (B) |
268.880 |
203.005 |
132.052 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.529 |
4.950 |
3.668 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.004 |
2.884 |
2.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.525 |
2.066 |
1.630 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.700 |
0.619 |
0.480 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1.825 |
1.447 |
1.150 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.576 |
0.458 |
0.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.249 |
0.989 |
0.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.481 |
1.492 |
0.791 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.730 |
2.481 |
1.491 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
124.85 |
98.93 |
70.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.45
|
0.47
|
0.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.67
|
0.69
|
0.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.63
|
5.05
|
4.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.50
|
0.61 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.67
|
9.08
|
12.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.86
|
2.24
|
3.76 |
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 |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90309689 |
|
Corporate
identity number of the company |
U51395CH2003PTC026369 |
|
Name of the
company |
SINGH SONS
DISTRIBUTORS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
# 64, Sector 18-A, Chandigarh-160019, Uttaranchal, India |
|
Type of charge |
Book Debts Others |
|
Particular of
charge holder |
Vijaya Bank, Sector – 11, Panchkula-134109, Haryana, India Email: parikshit_3238@yahoo.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
Agreement |
|
Date of instrument
Creating the charge |
17.12.2010 |
|
Amount secured by
the charge |
Rs.15.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 14% p.a. Terms of
Repayment Repayable on
Demand Margin 25% Stocks 40% on Book Debts Extent and
Operation of the charge 100% |
|
Short particulars
of the property charged |
Hypothecation of
stock of consumer electronics and home appliances. Hypothecation of Book
Debts not older than 90 days. |
|
Date of latest
modification prior to the present modification |
29.03.2008 |
|
Particulars of
the present modification |
Cash credit limit
has been enhanced from Rs. 8.000 Millions to Rs. 15.000 Millions. |
FIXED ASSETS:
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.55.26 |
|
|
1 |
Rs.86.80 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
NO |
|
--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.