MIRA
INFORM REPORT
|
Report Date : |
13.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SOOD CHEMICAL INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
3/5, Jogani Industrial Estate N Purav Marg, Sion, Mumbai – 400 022, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.03.1986 |
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Com. Reg. No.: |
11-039175 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.500 millions |
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CIN No.: [Company Identification
No.] |
U24110MH1986PTC039175 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS48627F |
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PAN No.: [Permanent Account No.] |
AABFS3112J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer of Chemicals |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 34000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. It has
achieved an increase in its sales turnover during 2011. However,
profitability appears to be low. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings 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) |
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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 |
INDIAN ECONOMIC OVERVIEW
|
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 : |
3/5, Jogani Industrial Estate N Purav Marg, Sion, Mumbai – 400 022,
Maharashtra, India |
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Tel. No.: |
91-22-25260703 / 25260704 / 25260705 / 5221358 |
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Fax No.: |
91-22-25233820 |
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E-Mail : |
DIRECTORS
As on 26.08.2011
|
Name : |
Mr. Shambhu Nath Shah |
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Designation : |
Director |
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Date of Appointment : |
10.03.1986 |
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DIN No.: |
00096705 |
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Other Directorship:
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Name : |
Mr. Anil Kumar Agrawal |
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Designation : |
Director |
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Date of Appointment : |
01.01.2005 |
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DIN No.: |
00755366 |
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Other Directorship:
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MAJOR SHAREHOLDERS
As on 26.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Anil Agrawal |
|
62500 |
|
S N Sahai |
|
43500 |
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Sujata Sahai |
|
19000 |
|
Sheel Sood |
|
32500 |
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Archana Sood |
|
30000 |
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Shakti Sood |
|
32500 |
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Savita Sood |
|
30000 |
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TOTAL |
|
250000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of Chemicals |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Punjab National Bank, Baba House, 27th Road, Plot No. 237,
Bandra (west), Mumbai – 400 050, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R.V.A. and
Associates Chartered Accountants |
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Address : |
17/18, Damji Shamji Udyog Bhavan, Veera Desai Road, Andheri (West),
Mumbai 400 053, Maharashtra, India |
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Tel. No.: |
91-22-26734955, 26734882. |
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PAN No.: |
AABPA0471G |
CAPITAL STRUCTURE
As on 26.08.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 millions |
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
|
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|
1] Share Capital |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.114 |
4.716 |
3.788 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.614 |
7.216 |
6.288 |
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LOAN FUNDS |
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|
1] Secured Loans |
5.554 |
6.492 |
4.148 |
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2] Unsecured Loans |
4.775 |
0.864 |
0.350 |
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TOTAL BORROWING |
10.329 |
7.356 |
4.498 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
18.943 |
14.572 |
10.786 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.500 |
0.613 |
0.102 |
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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 |
10.747
|
5.318 |
2.781 |
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Sundry Debtors |
6.636
|
9.118 |
11.386 |
|
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Cash & Bank Balances |
0.100
|
0.252 |
0.559 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
2.386
|
0.532 |
0.574 |
|
Total
Current Assets |
19.869
|
15.220 |
15.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
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Other Current Liabilities |
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Provisions |
0.774
|
0.426 |
0.446 |
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Total
Current Liabilities |
1.426
|
1.261 |
4.650 |
|
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Net Current Assets |
18.443
|
13.959 |
10.650 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.034 |
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TOTAL |
18.943 |
14.572 |
10.786 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
186.061 |
151.048 |
126.013 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
183.416 |
149.543 |
124.621 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.645 |
1.505 |
1.392 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.191 |
0.151 |
0.028 |
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PROFIT BEFORE
TAX |
2.454 |
1.354 |
1.364 |
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Less |
TAX |
0.765 |
0.427 |
0.458 |
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PROFIT AFTER TAX
|
1.689 |
0.927 |
0.906 |
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|
Earnings Per
Share (Rs.) |
6.75 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.90
|
0.61 |
0.71 |
|
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.12
|
0.08 |
0.08 |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.18 |
0.21 |
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.36
|
1.19 |
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.09 |
1.43 |
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) |
No |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24110MH1986PTC039175 |
|
Name of the
company |
SOOD CHEMICAL
INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
3/5 Jogani Industral
Estate N Purav Marg, Sion, Mumbai – 400022, Maharashtra, India e-mail: sahai@cardinalchem.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80055292 |
|
Type of charge |
Book Debts Stock |
|
Particular of
charge holder |
Punjab National Bank, Baba House, 27th Road, Plot No. 237,
Bandra (west), Mumbai – 400 050, Maharashtra, India e-mail: jagdishbansal@hotmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
1.Hypothrcation
of Goods and Book Debts to Secure Cash Credit Facilities for Enhancing In
Cash Credit- Hypothecation of Stock and Book Debt From Rs 7.000 Millions to
10.000 Millions. 2. Master
Agreement for Inland Documentary Credit for Sanctioning of ILC / FLC (DA /
DP) Fresh for Rs. 2.000 millions |
|
Date of
instrument Creating the charge |
29.10.2011 |
|
Amount secured by
the charge |
Rs. 12.000 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 15.25 %( i.e.
BR+4.5%) Terms of Repayment Renewal Every
year Margin 25% on Stock and
40% on Book Debts not older then 90 days. Extent and Operation of the charge Cash Credit -
Hypothecation of Stock and Book Debts |
|
Short particulars
of the property charged |
Hypothecation of
Stock and Book Debts |
|
Date of latest
modification prior to the present modification |
17.09.2009 |
|
Particulars of
the present modification |
1. Cash Credit-
Hypothecation of Stock and Book Debt From Rs 7.000 Millions to 10.000
Millions. 2. of ILC / FLC
(DA / DP) Fresh for Rs. 2.000 millions. |
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.55.52 |
|
|
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.71.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
|
42 |
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.