|
Report Date : |
01.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHREEJI PETROTECH INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat No. 103, Shrasti Apartment, 128/181, K-Block, Kidwai Nagar,
Kanpur – 208011, Uttar Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.08.2007 |
|
|
|
|
Com. Reg. No.: |
20-033723 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209UP2007PTC033723 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KNPS03203E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALCS0989CS |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Lubricating Base Oil and Paraffin Wax. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Financial
position of the company is not healthy. Profitability of the company appears
to be low during 2011. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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 : |
Flat No. 103, Shrasti Apartment, 128/181, K-Block, Kidwai Nagar,
Kanpur – 208011, Uttar Pradesh, India |
|
Tel. No.: |
91-512-2614086 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
87, C –Anna Bhavan, 1st Floor, Off. No.5, Broach Street, Carnac Bunder
Masjid (East), Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-23483273 |
|
Fax No.: |
91-22-23481272 |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Radhey Shyam Gupta |
|
Designation : |
Director |
|
Address : |
128/181, Flat No. 103, Shrasti Apartment, K-Block, Kidwai Nagar, Kanpur – 208011, Uttar Pradesh, India |
|
Date of Birth/Age : |
15.04.1943 |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
01471753 |
|
|
|
|
Name : |
Mr. Amrat Kumar Gupta |
|
Designation : |
Director |
|
Address : |
128/181, Flat No. 103, Shrasti Apartment, K-Block, Kidwai Nagar, Kanpur – 208011, Uttar Pradesh, India |
|
Date of Birth/Age : |
05.05.1970 |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
00371114 |
|
|
|
|
Name : |
Mr. Mohit Kumar Gupta |
|
Designation : |
Director |
|
Address : |
128/181, Flat No. 103, Shrasti Apartment, K-Block, Kidwai Nagar, Kanpur – 208011, Uttar Pradesh, India |
|
Date of Birth/Age : |
02.11.1980 |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
01471763 |
|
|
|
|
Name : |
Ms. Seema Gupta |
|
Designation : |
Director |
|
Address : |
128/181, Flat No. 103, Shrasti Apartment, K-Block, Kidwai Nagar, Kanpur – 208011, Uttar Pradesh, India |
|
Date of Birth/Age : |
17.12.1969 |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
01549817 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Radhey Shyam Gupta |
|
12500 |
|
Amrat Kumar Gupta |
|
17500 |
|
Mohit Kumar Gupta |
|
17500 |
|
Seema Gupta |
|
17500 |
|
Amrat Kumar Gupta |
|
10000 |
|
Meenakshi Gupta |
|
15000 |
|
Radhey Shyam Gupta |
|
10000 |
|
|
|
|
|
Total |
|
100000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
88.00 |
|
Other top fifty shareholders |
|
12.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Lubricating Base Oil and Paraffin Wax. |
|
|
|
|
Imports : |
|
|
Countries : |
Middle East |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||
|
|
|
||||||||||||
|
Customers : |
|
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Agrawal Raj and Associates Chartered Accountants |
|
Address : |
26/34, Birhana Road, Kanpur – 208001, Uttar Pradesh, India |
|
Tel. No.: |
91-512-3012810 |
|
PAN No.: |
ABUPA2574L |
CAPITAL STRUCTURE
After: 30.09.2011
Authorised Capital : Rs.5.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.4.000
Millions
As on: 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
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 |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 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 |
1.000 |
0.800 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.610 |
0.323 |
0.135 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.610 |
1.123 |
0.235 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.369 |
0.275 |
0.475 |
|
|
TOTAL BORROWING |
0.369 |
0.275 |
0.475 |
|
|
DEFERRED TAX LIABILITIES |
0.003 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.982 |
1.398 |
0.710 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.035 |
0.015 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.669
|
3.728 |
1.541 |
|
|
Sundry Debtors |
9.787
|
20.056 |
11.055 |
|
|
Cash & Bank Balances |
1.913
|
1.790 |
0.255 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.026 |
|
|
Loans & Advances |
0.576
|
0.356 |
0.207 |
|
Total
Current Assets |
16.945
|
25.930 |
13.084 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.912
|
23.883 |
11.674 |
|
|
Other Current Liabilities |
0.827
|
0.553 |
0.625 |
|
|
Provisions |
0.266
|
0.124 |
0.094 |
|
Total
Current Liabilities |
15.005
|
24.560 |
12.393 |
|
|
Net Current Assets |
1.940
|
1.370 |
0.691 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.007 |
0.013 |
0.019 |
|
|
|
|
|
|
|
|
TOTAL |
1.982 |
1.398 |
0.710 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
60.132 |
51.667 |
49.986 |
|
|
|
Other Income |
2.442 |
0.821 |
0.492 |
|
|
|
TOTAL (A) |
62.574 |
52.488 |
50.478 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
55.128 |
50.278 |
48.924 |
|
|
|
Input VAT Credit Adjusted |
2.373 |
0.820 |
0.493 |
|
|
|
Custom Duty Paid |
1.680 |
0.577 |
0.240 |
|
|
|
Cleaning and Forwarding Charges |
0.758 |
0.297 |
0.000 |
|
|
|
Salaries |
0.325 |
0.201 |
0.120 |
|
|
|
Commission and Brokerage |
0.174 |
0.003 |
0.234 |
|
|
|
Rebates and Discount |
0.154 |
0.000 |
0.000 |
|
|
|
Remuneration to Directors |
1.020 |
0.528 |
0.528 |
|
|
|
Other Expenses |
0.525 |
(0.495) |
(0.203) |
|
|
|
TOTAL |
62.137 |
52.209 |
50.336 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.437 |
0.279 |
0.142 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.010 |
0.001 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.427 |
0.278 |
0.142 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.140 |
0.090 |
0.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.287 |
0.188 |
0.074 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.323 |
0.135 |
0.061 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.610 |
0.323 |
0.135 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1.920 |
NA |
|
|
TOTAL EARNINGS |
NA |
1.920 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.87 |
2.34 |
7.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.46 |
0.36 |
0.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.71 |
0.54 |
0.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.51 |
1.07 |
1.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.25 |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.55 |
22.11 |
54.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.06 |
1.06 |
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
FINANCIAL RESULTS
That the company has continued its business activities at Mumbai and has
achieved a turnover of Rs.60.132 Millions (Approx.) during the aforesaid
Financial Year 2010-2011 and has earned a Net Profit of Rs.0.287 Million
(Approx.) after provision of income Tax. They hope that in the coming year the
company will be able to earn more profit.
Note:
The Registered Office of the company has been shifted from R-19, Canal
Patari, Opposite Priya Hotel Ghantaghar, Kanpur – 208001, Uttar Pradesh,
India to the present address w.e.f. 01.12.2009
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.55.72 |
|
|
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
NO |
|
--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 |
|
28 |
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.