MIRA
INFORM REPORT
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Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
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Name : |
SANTEC EXIM PRIVATE LIMITED |
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Registered
Office : |
Plot No. 92/6, Road No. 4, Mundka Udyog Nagar, Mundka Extension,
Delhi-110041 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.12.2003 |
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Com. Reg. No.: |
U51909DL2003PTC123435 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
123435 |
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IEC No.: |
0599011807 |
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PAN No.: [Permanent
Account No.] |
AIBPS6643J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer And Exporter of Plastic Machinery. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 106196 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Santec Group leading manufacturer and exporter on
Industrial Presses. It is an established company having fine track. Trade relations are fair.
General financial position of the company is good. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered normal for good 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Ekta |
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Designation : |
CEO |
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Tel. No. : |
91-9717598991 |
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Date : |
15.05.2012 |
LOCATIONS
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Registered Office/ Factory : |
Plot No. 92/6, Road No. 4, Mundka Udyog Nagar, Mundka Extension,
Delhi-110041, India |
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Tel. No.: |
91-11-28343082 |
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Mobile No.: |
91-9717598991 (Ms. Ekta) |
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Fax No.: |
91-11-28343081 |
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E-Mail : |
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Website : |
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Area : |
2500 Mtr. |
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Location : |
Owned |
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Factory : |
Plot No. 193, Sector 8, IMT Manesar, Haryana |
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Area : |
10000 Sq. ft. |
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Location : |
Owned |
KEY EXECUTIVE
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Name : |
Ms. Ekta |
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Designation : |
CEO |
DIRECTORS
As On : 28.09.2010
|
Name : |
Mr. Umakant Sangal |
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Designation : |
Director |
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Address: |
GD 96, Vishakah Enclaves, Pitam Pura, New Delhi-110088, |
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Date of Birth/Age : |
12.10.1971 |
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Qualification : |
B.E (Engineering) |
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Date of Appointment : |
09.12.2003 |
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Name : |
Mrs. Richa Sangal |
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Designation : |
Director |
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Address: |
GD 96, Vishakah Enclaves, Pitam Pura, New Delhi-110088, |
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Date of Birth/Age : |
16.06.1978 |
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Qualification : |
B.A. |
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Date of Appointment : |
09.12.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2010
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Names of Shareholders |
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No. of Shares |
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Mr. Umakant Sangal |
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5000 |
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Mrs. Richa Sangal |
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5000 |
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Total |
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10000 |
As On 28.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer And Exporter of Plastic Machinery. |
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Exports : |
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Countries : |
Europe, |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Subhash Gogia Chartered Accountant |
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Address : |
2137/59, 3rd Floor, Naiwala Karolbagh, New Delhi-110005, |
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Associates/Subsidiaries : |
·
Santec Automation (I) Private Limited, Delhi ·
Santec Hydrofluid Engineers, Haryana |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
26.449 |
2.337 |
1.591 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
26.549 |
2.437 |
1.691 |
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LOAN FUNDS |
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1] Secured Loans |
0.796 |
1.184 |
1.892 |
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2] Unsecured Loans |
3.646 |
4.786 |
2.013 |
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TOTAL BORROWING |
4.442 |
5.970 |
3.905 |
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DEFERRED TAX LIABILITIES |
0.106 |
0.027 |
0.040 |
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TOTAL |
31.097 |
8.434 |
5.636 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.245 |
4.785 |
2.416 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
35.677
|
11.710 |
10.264 |
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Sundry Debtors |
5.694
|
2.742 |
0.000 |
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Cash & Bank Balances |
4.138
|
3.838 |
0.000 |
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Other Current Assets |
0.541
|
1.014 |
4.572 |
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Loans & Advances |
1.642
|
0.000 |
0.000 |
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Total
Current Assets |
47.692
|
19.304 |
14.836 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
21.463
|
8.579 |
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Other Current Liabilities |
0.000
|
0.107 |
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Provisions |
3.379
|
6.971 |
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Total
Current Liabilities |
24.842
|
15.657 |
11.618 |
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Net Current Assets |
22.850
|
3.647 |
3.218 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.002 |
0.002 |
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TOTAL |
31.097 |
8.434 |
5.636 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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|
51.302 |
35.926 |
28.261 |
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TOTAL |
51.302 |
35.926 |
28.261 |
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Less |
EXPENSES |
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TOTAL |
26.389 |
33.373 |
27.117 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
24.913 |
2.553 |
1.144 |
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Less/ Add |
DEPRECIATION/
AMORTISATION AND TAX (F) |
0.785 |
0.514 |
0.475 |
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PROFIT AFTER TAX
|
24.128 |
2.039 |
0.669 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.337 |
1.591 |
0.975 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
0.000 |
1.293 |
0.053 |
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BALANCE CARRIED
TO THE B/S |
26.465 |
2.337 |
1.591 |
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Earnings Per
Share (Rs.) |
-- |
-- |
-- |
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Expected Sales (2010-2011) : Rs.150.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
47.03
|
5.67 |
2.36 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.10
|
8.87 |
9.17 |
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Current Ratio (Current Asset/Current Liability) |
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1.92
|
1.23 |
1.27 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office address has been shifted from GD-96, Vishakha Enclave
Pitampura, New Delhi-110088, Delhi, India to present as claim by the
management. Management also claim that this office is closed now.
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter's background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
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20) Export / Import details (if
applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
Yes |
Trade References:
- Tata Motors
Form 8
|
This form is for |
Creation of
charge |
|
Name of the
company |
Santec Exim
Private Limited |
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Address of the
registered office or of the principal place of business in |
Gd-96 Vishakha
Enclavepitampura, New Delhi-110088, |
|
Type of charge |
Immovable
Property |
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Particular of
charge holder |
Citi Bank, 124, 4th Floor, |
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Nature of
description of the instrument creating or modifying the charge |
Loan Agreement |
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Date of instrument
Creating the charge |
23.01.2009 |
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Amount secured by
the charge |
Rs.4.750 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest shall be
charged at the rate of 12.25% per annum on monthly terms. Terms of
Repayment The amount shall
be repayable in 180 equal monthly instalments from the date of creation of
the loan account. Margin NIL Extent and
Operation of the charge The loan agreement
shall be executed on the property and as per agreement with the bank. Others NIL |
|
Short particulars
of the property charged |
The Property
Situated At M 1 A-053, Express Greens, Sector-M-1, Manesar, DLF, New
Gurgaon-122051 |
Fixed Assets:
·
Coffee Machine
·
Computers
·
Degien Software
·
Fridge
·
Furniture and Fixture
·
Machinery
·
Epabx
·
Fax Machine
·
Generator
·
Mannual Voltage
Stabilizer
·
Refrigerator Telephone
Instruments
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.55.58 |
|
|
1 |
Rs.87.17 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SHG |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.