|
Report Date : |
23.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SOWAR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
CSC-Pocket-9, Sector C, Vasant Kunj, New Delhi-110070 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
11.02.1980 |
|
|
|
|
Com. Reg. No.: |
55-010201 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.088 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1980PTC010201 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS20414C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS0952J |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Geophysical Equipments |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 440000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is well established company having good track. Financially
company performance seems good. Fundamental seems healthy and strong. Trade relations
are reported to be fair. Business is active. Payments are reported to be
regular and as per commitments. The company can be considered 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
CSC-Pocket-9, Sector C, Vasant Kunj, New Delhi-110070, India |
|
Tel. No.: |
91-11-23387394 / 23073189 |
|
Fax No.: |
91-11-23073045 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 23.09.2011
|
Name : |
Mr. Brijendra Singh |
|
Designation : |
Director |
|
Address : |
28, Jor Bagh, New Delhi-110003, India |
|
Date of Birth/Age : |
04.07.1944 |
|
Date of Appointment : |
11.02.1980 |
|
PAN No.: |
AAOPS3395N |
|
DIN No.: |
00035599 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1980PTC010201 |
SOWAR
PRIVATE LIMITED |
Director |
17/06/2011 |
11/02/1980 |
- |
Active |
NO |
|
2 |
U74899DL1986PLC023341 |
HGS
(INDIA) LIMITED |
Director |
17/06/2011 |
13/02/1986 |
- |
Active |
NO |
|
3 |
U74899DL1984PTC018045 |
AVL
INDIA PRIVATE LIMITED |
Director |
29/11/1990 |
29/11/1990 |
18/02/2011 |
Active |
NO |
|
4 |
U67120DL1996PTC079408 |
QUEENSGATE
HOLDINGS (INDIA) PRIVATE LIMITED |
Director |
31/10/1996 |
31/10/1996 |
- |
Active |
NO |
|
5 |
U74210DL1999PTC100132 |
AVL
TECHNICAL CENTRE PRIVATE LIMITED. |
Director |
29/09/2001 |
29/09/2001 |
18/02/2011 |
Active |
NO |
|
6 |
U74899DL1990PTC040770 |
AVL
INDIA SOFTWARES PRIVATE LIMITED |
Director |
30/09/2002 |
30/09/2002 |
18/02/2011 |
Active |
NO |
|
7 |
U01214DL2003PTC121880 |
A.B.
STUD THOROUGHBRED PRIVATE LIMITED |
Director |
22/08/2003 |
22/08/2003 |
- |
Active |
NO |
|
8 |
U51909DL2006PTC149196 |
HGS
(INDIA) SALES AND SERVICES PRIVATE LIMITED |
Director |
25/05/2006 |
25/05/2006 |
- |
Active |
NO |
|
9 |
U28113WB1987PTC042455 |
SOWAR
CONSULTANTS PRIVATE LIMITED |
Director |
18/01/2010 |
18/01/2010 |
- |
Active |
NO |
|
Name : |
Mr. Shashi Singh |
|
Designation : |
Managing Director |
|
Address : |
E-2/9, Vasant Vihar, New Delhi-110057, India |
|
Date of Birth/Age : |
15.11.1947 |
|
Date of Appointment : |
01.09.1982 |
|
DIN No.: |
00040040 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1980PTC010201 |
SOWAR
PRIVATE LIMITED |
Managing
director |
01/09/1982 |
01/09/1982 |
Active |
NO |
|
2 |
U74899DL1984PTC018045 |
AVL
INDIA PRIVATE LIMITED |
Managing
director |
28/05/1984 |
28/05/1984 |
Active |
NO |
|
3 |
U28113WB1987PTC042455 |
SOWAR
CONSULTANTS PRIVATE LIMITED |
Director |
05/06/1987 |
05/06/1987 |
Active |
NO |
|
4 |
U74899DL1990PTC040770 |
AVL
INDIA SOFTWARES PRIVATE LIMITED |
Managing
director |
10/07/1990 |
10/07/1990 |
Active |
NO |
|
5 |
U74899DL1994PTC058827 |
SOWAR
FINANCIAL SERVICES PRIVATE LIMITED |
Director |
05/05/1994 |
05/05/1994 |
Under
Process of Striking off |
NO |
|
6 |
U74210DL1999PTC100132 |
AVL
TECHNICAL CENTRE PRIVATE LIMITED. |
Managing
director |
01/04/2006 |
19/06/1999 |
Active |
NO |
|
7 |
U85195MH1988PTC141417 |
ROCHE
DIAGNOSTICS INDIA PRIVATE LIMITED |
Director |
29/09/2001 |
29/09/2001 |
Active |
NO |
|
8 |
U74999DL2001NPL112520 |
INDO
AUSTRIAN BUSINESS FORUM |
Director |
12/12/2002 |
12/12/2002 |
Active |
NO |
|
9 |
U01214DL2003PTC121880 |
A.B.
STUD THOROUGHBRED PRIVATE LIMITED |
Director |
22/08/2003 |
22/08/2003 |
Active |
NO |
|
10 |
U51909DL2006PTC149196 |
HGS
(INDIA) SALES AND SERVICES PRIVATE LIMITED |
Director |
25/05/2006 |
25/05/2006 |
Active |
NO |
|
11 |
U11102DL2006PTC151389 |
IRADA
BIOFUELS PRIVATE LIMITED |
Director |
28/07/2006 |
28/07/2006 |
Active |
NO |
|
12 |
U74300DL2003PTC119853 |
SGSIL
GEOPHYSICAL SERVICES PRIVATE LIMITED |
Director |
30/09/2009 |
30/09/2009 |
Active |
NO |
|
Name : |
Mr. Anil Dass |
|
Designation : |
Director |
|
Address : |
126, Malch Marg, Chanakyapuri, New Delhi-110021, India |
|
Date of Birth/Age : |
28.02.1955 |
|
Date of Appointment : |
01.09.1985 |
|
PAN No.: |
AAAPD3840P |
|
DIN No.: |
00043366 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1980PTC010201 |
SOWAR
PRIVATE LIMITED |
Director |
01/09/1985 |
01/09/1985 |
- |
Active |
NO |
|
2 |
U74899DL1986PLC023341 |
HGS
(INDIA) LIMITED |
Managing
director |
01/04/2011 |
01/04/1986 |
- |
Active |
NO |
|
3 |
U28113WB1987PTC042455 |
SOWAR
CONSULTANTS PRIVATE LIMITED |
Director |
22/06/1987 |
22/06/1987 |
- |
Active |
NO |
|
4 |
U74300DL2003PTC119853 |
SGSIL
GEOPHYSICAL SERVICES PRIVATE LIMITED |
Director |
10/04/2003 |
10/04/2003 |
- |
Active |
NO |
|
5 |
U74899DL1990PTC040770 |
AVL
INDIA SOFTWARES PRIVATE LIMITED |
Director |
20/11/2003 |
20/11/2003 |
18/02/2011 |
Active |
NO |
|
6 |
U74210DL1999PTC100132 |
AVL
TECHNICAL CENTRE PRIVATE LIMITED. |
Director |
20/11/2003 |
20/11/2003 |
18/02/2011 |
Active |
NO |
|
7 |
U51909DL2006PTC149196 |
HGS
(INDIA) SALES AND SERVICES PRIVATE LIMITED |
Director |
25/05/2006 |
25/05/2006 |
- |
Active |
NO |
|
8 |
U74899DL1984PTC018045 |
AVL
INDIA PRIVATE LIMITED |
Alternate
director |
30/12/2006 |
30/12/2006 |
18/02/2011 |
Active |
NO |
|
Name : |
Mr. Anand Narain Bhatia |
|
Designation : |
Director |
|
Address : |
C-484, Defence Colony, New Delhi-110024, India |
|
Date of Birth/Age : |
23.01.1947 |
|
Date of Appointment : |
05.03.2002 |
|
PAN No.: |
AACPB4801A |
|
DIN No.: |
00148983 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L29191PN1960PLC020063 |
WHIRLPOOL
OF INDIA LIMITED |
Director |
21/12/2001 |
21/12/2001 |
- |
Active |
NO |
|
2 |
U74140WB1991PTC094523 |
ACCORD
GROUP (INDIA) PRIVATE LIMITED |
Director |
01/01/2002 |
01/01/2002 |
27/03/2008 |
Active |
NO |
|
3 |
U74899DL1980PTC010201 |
SOWAR
PRIVATE LIMITED |
Director |
05/03/2002 |
05/03/2002 |
- |
Active |
NO |
|
4 |
U74899DL1986PLC023341 |
HGS
(INDIA) LIMITED |
Director |
05/03/2002 |
05/03/2002 |
- |
Active |
NO |
|
5 |
L24211TN1975PLC006989 |
E.I.D
PARRY (INDIA) LIMITED |
Director |
19/01/2004 |
19/01/2004 |
- |
Active |
NO |
|
6 |
U91990DL1901PLC001746 |
DELHI
GOLF CLUB LIMITED |
Director |
30/09/2006 |
30/09/2006 |
19/09/2009 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2011
|
Names of Shareholders |
No. of Shares |
|
Brijendra Singh |
7887 |
|
Anil Dass |
250 |
|
Shashi Singh |
4706 |
|
Anil Dass |
3402 |
|
Aneeta Bhatia |
627 |
|
Shailendra Singh |
627 |
|
Manjula Rana |
627 |
|
Shashi Singh |
100 |
|
Shashi Singh |
100 |
|
Pawan Singh |
1276 |
|
Anjali Singh |
1276 |
|
TOTAL
|
20878 |
AS ON 23.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Geophysical Equipments |
PRODUCTION STATUS (AS ON : 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Brass Spikes |
Nos. |
5311 |
|
Aluminium Rings |
Nos. |
50 |
|
Connector Body |
Nos. |
216 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Syndicate Bank, C-18, Paschimi Marg, Vasant
Vihar, New Delhi-110057, India ·
Citi Bank ·
ICICI Bank Limited ·
HDFC Bank Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohinder Puri and Company Chartered Accountant |
|
Address : |
1A-D, Vansana, 11, Tolstoy Marg, New Delhi-110001, India |
|
Tel. No.: |
91-11-47102200 / 47103300 / 47102250 |
|
Fax No.: |
91-11-23313908 / 23731220 / 47102290 |
|
E-Mail : |
|
|
PAN No.: |
AAAFM9226R |
|
|
|
|
Associates : |
·
HGS (India) Limited ·
HGS (India) Sales and Services Private Limited ·
Sowar Consultants Private Limited ·
AVL India Private Limited ·
AVL Software Private Limited. ·
The Little Theatre Group ·
SGSIL Geophysical Services Private Limited ·
Sowar Financial Services Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs. 2.500 Millions |
|
20000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs. 2.000 Millions |
|
|
TOTAL |
|
Rs. 4.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20878 |
Equity Shares |
Rs.100/-
each |
Rs. 2.088
Millions |
|
|
|
|
|
NOTES
Of the above, 400 Equity Shares have been allotted as
fully paid up without the payment being received in cash consequent upon
takeover of MIS. Sowar Enterprises and 378
Equity Shares have been allotted as fully paid up without the payment
being received in cash consequent upon amalgamation of Uniso Trading
Private Limited pursuant to Hon’ble High Court Order dated 20.05.2002 read with order dated
09.08.2002
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 |
2.088 |
2.088 |
2.088 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
109.998 |
78.076 |
64.595 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
112.086 |
80.164 |
66.683 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.220 |
0.761 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.220 |
0.761 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
112.086 |
80.384 |
67.444 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.603 |
22.758 |
26.391 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
47.919 |
29.208 |
20.073 |
|
|
DEFERREX TAX ASSETS |
0.733 |
0.465 |
1.214 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.412
|
10.919 |
10.046 |
|
|
Sundry Debtors |
20.511
|
17.447 |
13.049 |
|
|
Cash & Bank Balances |
17.456
|
9.914 |
5.408 |
|
|
Other Current Assets |
0.074
|
0.097 |
0.072 |
|
|
Loans & Advances |
3.394
|
5.706 |
16.828 |
|
Total
Current Assets |
51.847
|
44.083 |
45.403 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.794
|
8.631 |
5.633 |
|
|
Other Current Liabilities |
4.246
|
4.993 |
4.323 |
|
|
Provisions |
2.976
|
2.506 |
15.681 |
|
Total
Current Liabilities |
17.016
|
16.130 |
25.637 |
|
|
Net Current Assets |
34.831
|
27.953 |
19.766 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
112.086 |
80.384 |
67.444 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Professional Fees |
23.589 |
28.077 |
14.279 |
|
|
|
Sales – Manufactured Goods |
0.000 |
1.340 |
0.651 |
|
|
|
Sales – Traded Goods |
74.436 |
62.579 |
45.396 |
|
|
|
Jobwork |
0.000 |
0.143 |
2.143 |
|
|
|
Service Charges |
0.348 |
0.181 |
1.055 |
|
|
|
Commission |
7.307 |
6.094 |
4.964 |
|
|
|
Other Income |
183.171 |
11.549 |
6.064 |
|
|
|
TOTAL (A) |
288.851 |
109.963 |
74.552 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Personal Expenses |
21.750 |
18.036 |
15.312 |
|
|
|
Manufacturing, Administrative, Selling and Other Expenses |
21.982 |
19.662 |
21.217 |
|
|
|
Purchase for Resale |
53.943 |
45.559 |
28.038 |
|
|
|
(Increase) / Decrease in Inventories |
(1.113) |
(2.227) |
0.661 |
|
|
|
TOTAL (B) |
96.562 |
81.030 |
65.228 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
192.289 |
28.933 |
9.324 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.355 |
0.478 |
0.505 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
191.934 |
28.455 |
8.819 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.365 |
3.311 |
3.604 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
188.569 |
25.144 |
5.215 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
39.789 |
8.000 |
1.966 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
148.780 |
17.144 |
3.249 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
49.163 |
37.397 |
36.916 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
14.878 |
1.714 |
0.325 |
|
|
|
Corporate Dividend – Final |
0.000 |
0.000 |
2.088 |
|
|
|
Corporate Dividend – Interim |
100.214 |
3.132 |
0.000 |
|
|
|
Corporate Dividend Tax |
16.644 |
0.532 |
0.355 |
|
|
BALANCE CARRIED
TO THE B/S |
66.207 |
49.163 |
37.397 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Sale |
0.047 |
0.000 |
0.000 |
|
|
|
Commission Earnings |
7.307 |
5.556 |
4.693 |
|
|
TOTAL EARNINGS |
7.354 |
5.556 |
4.693 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Resale |
45.811 |
39.855 |
24.395 |
|
|
TOTAL IMPORTS |
45.811 |
39.855 |
24.395 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7126 |
821 |
156 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
51.51
|
15.59 |
4.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
253.33
|
39.34 |
11.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
232.28
|
37.36 |
7.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.68
|
0.31 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.15
|
0.20 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.05
|
2.73 |
1.77 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
PERFORMANCE
The year
2010-11 witnessed an increase in income for Company as a whole due to
exceptional profits of Rs. 172.255 Millions earned on account of sale of its
investments in AVL India (Private) Limited and AVL India Software (Private)
Limited. For the year 2010-11, gross operational income of the Company grew
marginally to Rs. 1174.09 (after removing the exceptional profits of Rs.
1722.55 as referred above) from Rs. 112.190 Millions in 2009-10. In spite of
tough competition, the medical division of the Company achieved the budgeted
turnover for the financial year 2010-11. Hence, turnover of the medical
division for the year 2010-11 grew by approximately 19% in comparison to last
year’s turnover. Due to tough economic conditions, overall revenue from regular
operational activities increased by less than 5% for the year 2010-11 in
comparison to the last year.
The
medical division contributed gross income of Rs. 74.435 Millions in the year
2010-11out of the total income of Rs. 289.964 Millions earned by the Company in
the said year (i.e. a contribution of around 26%). The income from consultancy
division decreased by over 9% and closed at Rs. 31.244 Millions (comprising of
professional fees, service charges and commission) in the year 2010-11 in
comparison to Rs. 34.352 Millions achieved in the year 2009-10. In the
consultancy division, professional fees decreased from Rs. 28.077 Millions to
Rs. 23.589 Millions, however commission increased from Rs. 6.094 Millions to
Rs. 7.307 Millions and service charges also increased from Rs. 0.180 Million to
Rs. 0.348 Million respectively. Other income of the Company also increased to
Rs. 183.171 Millions in the year 2010-11 from Rs. 11.549 Millions in the year
2009-10 (i.e. an increase of more than 1486% as compared to the last year). The
main reason for this exceptional growth was earning extraordinary income on
account of sale of AVL’s shares. The Company entered into a Share Purchase
Agreement with AVL HOLDING GMBH and as per this agreement, the Company agreed
to sell its entire investments in M/s AVL India Software Private Limited (i.e.
52,000 equity shares) and M/s AVL India Private Limited (i.e. 400 equity
shares) to AVL HOLDING GMBH in two years (i.e in 2010-11 and 2011-12). In the
year 2010-11, the Company sold 26000/- equity shares of AVL India Private
Limited and 200 equity shares of AVL India Software Private Limited to AVL
HOLDING GMBH for a total consideration of Rs. 175.000 Millions. The remaining
shares will be sold in the year 2011-12 at the same value. Therefore, in a
nutshell, gross income of the Company increased by Rs. 177.774 Millions as
compared to the last year. Profit before taxes grew by over 650% to Rs. 188.570
Millions from Rs. 25.144 Millions during the previous year and Net profit for
the year was Rs. 148.781 Millions compared to Rs. 17.144 Millions in previous
year
In
last year’s annual report, the Company had reported its decision to close its
manufacturing division; hence revenue from this division for the year 2010-11
was nil as compared to Rs. 1.483 Millions earned during the last year.
FORM 8
|
Corporate
identity number of the company |
U74899DL1980PTC010201 |
|
Name of the
company |
SOWAR PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
CSC-Pocket-9, Sector C, Vasant Kunj, New Delhi-110070, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Others |
|
Particular of
charge holder |
Syndicate Bank, C-18, Paschimi Marg, Vasant Vihar, New Delhi-110057,
India |
|
Nature of
instrument creating charge |
Composite
Agreement for Hypothecation of Goods, Stocks, Plant and Machinery and other
articles dated 15.03.2012 |
|
Date of
instrument Creating the charge |
15.03.2012 |
|
Amount secured by
the charge |
Rs. 9.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest as per
sanction terms and bank norms Terms of repayment As may be
stipulated by the Bank from time to time Margin As may be
stipulated by the Bank from time to time Extent and operation of the charge First charge by
way of hypothecation of all the medical equipments and machines installed at
112D, Udyog Vihar, Phase- IV, Gurgaon to secure the credit facility of Rs.
9.500 Millions from Syndicate Bank. |
|
Short particulars
of the property charged (Including location of the property) |
First Charge by way
of hypothecation of all the machines and medical equipments of UREM of industrial shed situated at 112D,
Phase IV, Gurgaon, standing in the name of the company valued Rs. 17.600
Millions |
FIXED ASSETS
·
Land
·
Building
·
Factory Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Refrigerator and Air
·
Conditioners
·
Vehicles
·
Electrical Installation
·
Office Equipments
·
Demonstration Equipments
·
Computer
·
Software
·
Tools and Equipment
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 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. 53.67 |
|
|
1 |
Rs. 86.04 |
|
Euro |
1 |
Rs. 70.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
59 |
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.