1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SHOGINI
TECHNOARTS PRIVATE LIMITED |
Principal Name 1 |
Mr. Vijay Mukund Athavale |
|
Status |
Moderate |
Principal Name 2 |
Mr. Vinayak Vishnu Athavale |
|
|
|
Registration # |
11-028059 |
|
Street Address |
Gate No. 788,
Khed Shivapur, Taluka Haveli, District Pune – 412 205, |
||
|
Established Date |
23.08.1982 |
SIC Code |
-- |
|
Telephone# |
91-20-66471800 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-20-66471820 |
Business Style 2 |
Selling |
|
Homepage |
Product Name 1 |
Printed Circuit Boards. |
|
|
# of employees |
Not Available |
Product Name 2 |
- |
|
Paid up capital |
Rs. 99,020,000/- |
Product Name 3 |
- |
|
Shareholders |
Directors or
relatives of Directors- 99.66% Others- 0.34% |
Banking |
The
Saraswat Co-Operative Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
31 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B
(27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
- |
- |
- |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
553,066,000 |
Current Liabilities |
188,900,000 |
|
Inventories |
201,836,000 |
Long-term Liabilities |
601,555,000 |
|
Fixed Assets |
209,776,000 |
Other Liabilities |
14,246,000 |
|
Deferred Assets |
10,127,000 |
Total Liabilities |
804,701,000 |
|
Invest& other Assets |
6,520,000 |
Retained Earnings |
77,604,000 |
|
|
|
Net Worth |
176,624,000 |
|
Total Assets |
981,325,000 |
Total Liab. & Equity |
981,325,000 |
|
Total Assets (Previous Year) |
893,757,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
942,750,000 |
Net Profit |
6,009,000 |
|
Sales(Previous yr) |
884,869,000 |
Net Profit(Prev.yr) |
28,451,000 |
MIRA
INFORM REPORT
|
Report Date : |
08.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHOGINI TECHNOARTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gate No. 788, Khed Shivapur, Taluka Haveli, District Pune – 412205,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.08.1982 |
|
|
|
|
Com. Reg. No.: |
11-028059 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 99.020 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32104PN1982PTC028059 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS9247E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Subject is engaged in the business of Manufacturing and Selling of Printed Circuit Boards. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 700000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appears sharp dip the profitability. The External borrowing seems to be
huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. 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/ Factory : |
Gate No. 788, Khed Shivapur, Taluka Haveli, District Pune – 412 205, |
|
Tel. No.: |
91-20-66471800 |
|
Fax No.: |
91-20-66471820 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
15000 sq mtrs. |
|
Location : |
Owned |
|
|
|
|
Cad
centre: |
209/1,
Shivganga, |
|
Tel. No.: |
91-20-22534281/22533015 |
|
|
|
|
Head Office : |
S. No. 5 (P), Hissa No. 2/4/2, Shogini Building, Katrajdehu Road By Pass
Near Sinhagad Road, Fly Over Movie, Ambegaon Budruk, Taluka Haveli, Pune -
411 046, Maharashtra, Maharashtra, India |
|
Tel. No.: |
91-20-66471700 (100 Lines) |
|
Fax No.: |
91-20-66471714 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at:
·
Mumbai
·
·
·
|
DIRECTORS
As on: 21.09.2012
|
Name : |
Mr. Vijay Mukund Athavale |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Gate No. 788, Khed Shivapur, Taluka Haveli, District Pune, |
|
Date of Birth/Age : |
01.01.1946 |
|
Qualification : |
Master In Computer |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ABIPA3664K |
|
DIN No.: |
00388657 |
|
|
|
|
Name : |
Mr. Vinayak Vishnu Athavale |
|
Designation : |
Managing Director |
|
Address : |
5B, S.R. No. 9,Vedant Nagari, Karve Nagar, Pune - 411052, Maharashtra, India |
|
Date of Birth/Age : |
21.08.1951 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AANPA3587F |
|
DIN No.: |
00388842 |
|
|
|
|
Name : |
Mrs. Geeta Abhijit Tamhankar |
|
Designation : |
Technical Director and Production |
|
Address : |
999-B, Mayuresh Society, Phathak Baug, |
|
Date of Birth/Age : |
22.01.1972 |
|
Qualification : |
BE in Electronics |
|
Date of Appointment : |
01.07.1998 |
|
PAN No.: |
AAHPT6104H |
|
DIN No.: |
00389092 |
|
|
|
|
Name : |
Mr. Rhushikesh Ravikiran Modak |
|
Designation : |
Whole-time director |
|
Address : |
19, Vivek Society, |
|
Date of Birth/Age : |
12.05.1974 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
28.03.2001 |
|
PAN No.: |
AFNPM5262L |
|
DIN No.: |
00389147 |
|
|
|
|
Name : |
Mrs. Seema Rhushikesh Modak |
|
Designation : |
Commercial Director |
|
Address : |
19, Vivek Society, Padmavati, Pune – 411009, |
|
Date of Birth/Age : |
21.08.1977 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.01.2002 |
|
PAN No.: |
AFNPM5261K |
|
DIN No.: |
00389187 |
|
|
|
|
Name : |
Mr. Abhijit Sriniwas Tamhankar |
|
Designation : |
Technical Director and Designing |
|
Address : |
999-B, Mayuresh Society, Phatak Baug, Rajendra Nagar, Pune – 411030, Maharashtra, India |
|
Date of Birth/Age : |
23.06.1969 |
|
Date of Appointment : |
01.01.2002 |
|
PAN No.: |
ABEPT3198D |
|
DIN No.: |
01515483 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Manohar Godbole |
|
Designation : |
Secretary |
|
Address : |
25, Dattaguru Apartments, 3rd Floor, Dhankwadi, Pune – 411043, Maharashtra, India |
|
Date of Appointment : |
01.08.2004 |
|
PAN No.: |
ABBPG9181E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 21.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Athavale Mukund Vijay Jointly withAthavale Vijay Vibhavari |
|
674598 |
|
Athavale Vishnu Vinayak Jointly with Athavale Vinayak Deepa |
|
1400 |
|
Athavale Vijay Vibhavari Jointly withAthavale Mukund Vijay |
|
183380 |
|
Behere Vinayak Gauri Jointly withBehere Gajanan Vinayak |
|
280 |
|
Ranade Narayan Vithal Jointly withRanade Vithal Madhuri |
|
140 |
|
Bapat Anand Prabha Jointly withBapat Vishnu Anand |
|
280 |
|
Sathe Narayan Shamkant Jointly withSathe Shamkant Swati |
|
560 |
|
Sathe Shamkant Swati Jointly withSathe Narayan Shamkant |
|
140 |
|
Karandikar Govind Achyut |
|
1400 |
|
Sonar Ram Ranjana |
|
280 |
|
Pareskar Ratnakar Sampada |
|
280 |
|
Modak Rushikesh Seema jointly with Modak Ravikiran Rushikesh |
|
47742 |
|
Athavale Vinayak Deepa jointly with Athavale Vishnu Vinayak |
|
980 |
|
Tamhankar Shriniwas Abhijit jointly with Tamhankar Abhijit Geeta |
|
1400 |
|
Modak Ravikiran Rushikesh jointly with Modak Rushikesh Seema |
|
15400 |
|
Tamhankar Abhijit Geeta jointly with Tamhankar Shriniwas Abhijit |
|
61740 |
|
Total |
|
990000 |
|
Shareholder's Name (Preference
Shares) |
No. of Shares |
|
Modak Rhushikesh Seema Jointly with Modak Ravikiran Rhushikesh |
169 |
|
Dhavale Eknath Dilip Jointly with Dhavale Dilip Jyostna |
01 |
|
Kandlikar Satish Rohan Jointly with Kandlikar Satish Sumedha Jointly withMr. Kandlikar Bhimrao Satish |
01 |
|
Adkar Milind Madhuri |
01 |
|
Gokhale Achyut Kamal |
01 |
|
Khar Laxminnarayan |
01 |
|
Modak Keshav Avinash |
01 |
|
Athavale Dattatray Gopal |
01 |
|
Barve Anand Madhukar |
01 |
|
Kulkarni Vishwas Vrushali Jointly with Kulkarni Vishwas |
01 |
|
Mankar Shankarrao Shyam |
01 |
|
Mankar Shankarrao Ulhas |
01 |
|
Mankar Damodar Vinayak |
01 |
|
Mankar Vidyadhar Amit |
01 |
|
Mankar Ulhas Ashish |
01 |
|
Mankar Vasantrao Anant |
01 |
|
Jadhav Jayant Kishor Jointly with Jadhav Jayant Sharada |
01 |
|
Deshpande Balwant Ashok Jointly with Deshpande Ashok Ashwini |
01 |
|
Yarnalkar Vishvnath Ghanashyam Jointly with Yarnalkar Ghanashyam Anjali Jointly with Yarnalkar Ghanashyam Dhanajay |
01 |
|
Salvekar Dattatraya Sunil Jointly with Salvekar Sunil Parag |
01 |
|
Ghatpande Prabhakar Vasanti Jointly with Ghatpande Prabhakar Sonali Jointly with Ghatpande Prabhakar Yogendra |
01 |
|
Kashid Maruti Jayashree |
01 |
|
Agarkar Mukund Mayur |
01 |
|
Abhyankar Shripad Meghna |
01 |
|
Venus Insulators Private Limited, Pune |
05 |
|
Chandorkar Madhav Mohan |
02 |
|
Walimbe V. Vanadana Jointly with Diwakar Waman Jivaya |
01 |
|
Total |
200 |
Equity Share Break up (Percentage of Total Equity)
As on: 21.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.66 |
|
Others |
0.34 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the business of Manufacturing and Selling of Printed
Circuit Boards. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· The Saraswat Co-Operative Bank Limited, SME Branch, C-2 Kohinoor Estate Co-Operative Housing, Plot No 12 Mula Road, Pune - 411003, Maharashtra, India · Janata Sahakari Bank Limited, Bhor Branch, Taluka Velha, District Pune, Maharashtra, India · Shree Sharada Sahakari Bank Limited, Pune, Maharashtra, India · The Vishweshwar Sahakari Bank Limited, Vijaynagar Branch, Pune, Maharashtra, India · Indusind Bank Limited, Camp Branch, Pune, Maharashtra, India · Bank of Maharashtra, Pune 411 030, Maharashtra, India ·
State Bank of India, Tilak Road branch , Pune – 411 002,
Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
HMA and Associates Chartered Accountants |
|
Address : |
202, Gulmohar Apartments, 773/7A, Shivajinagar, Prabhat Road Lane No 10,
Pune – 411004, Maharashtra, India |
|
PAN.: |
AAEFG3833H |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1195000 |
Equity Shares |
Rs.100/- each |
Rs. 119.500 Millions |
|
5000 |
Preference Shares |
Rs.100/- each |
Rs. 0.500 Million |
|
|
Total |
|
Rs. 120.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
990000 |
Equity Shares |
Rs.100/-
each |
Rs. 99.000 Millions |
|
200 |
Preference Shares |
Rs.100/- each |
Rs. 0.020
Millions |
|
|
Total |
|
Rs. 99.020 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
99.020 |
99.020 |
47.020 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
77.604 |
71.598 |
109.687 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
176.624 |
170.618 |
156.707 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
406.322 |
300.967 |
174.566 |
|
|
2] Unsecured Loans |
195.233 |
194.838 |
179.102 |
|
|
TOTAL BORROWING |
601.555 |
495.805 |
353.668 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
778.179 |
666.423 |
510.375 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
209.776 |
218.891 |
221.188 |
|
|
Capital work-in-progress |
0.307 |
4.189 |
2.520 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.459 |
1.213 |
1.558 |
|
|
DEFERREX TAX ASSETS |
10.127 |
8.175 |
3.588 |
|
|
OTHER NON CURRENT ASSETS |
4.754 |
6.361 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
201.836
|
183.591
|
133.066
|
|
|
Sundry Debtors |
255.229
|
226.540
|
191.114
|
|
|
Cash & Bank Balances |
273.477
|
207.240
|
75.162
|
|
|
Other Current Assets |
9.710
|
25.941
|
4.643
|
|
|
Loans & Advances |
14.650
|
11.616
|
20.902
|
|
Total
Current Assets |
754.902
|
654.928
|
424.887
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
132.102 |
123.751 |
86.568 |
|
|
Other Current Liabilities |
56.798
|
47.984
|
5.695
|
|
|
Provisions |
14.246
|
55.599
|
51.103
|
|
Total
Current Liabilities |
203.146
|
227.334
|
143.366
|
|
|
Net Current Assets |
551.756
|
427.594
|
281.521
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
778.179 |
666.423 |
510.375 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
3 1.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
942.750 |
|
|
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL (A) |
NA |
884.869 |
707.898 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
753.565 |
569.610 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
753.565 |
569.610 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
131.304 |
138.288 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
47.971 |
35.338 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
83.333 |
102.950 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
41.568 |
41.864 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
41.765 |
61.086 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
13.314 |
21.634 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6.009 |
28.451 |
39.452 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.866 |
84.378 |
66.499 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.300 |
1.423 |
5.070 |
|
|
|
Bonus issue of shares |
0.000 |
49.500 |
0.000 |
|
|
|
Dividend on Equity Shares |
0.000 |
14.610 |
14.100 |
|
|
|
Dividend on Preferences Shares |
0.003 |
0.003 |
0.006 |
|
|
|
Tax on Dividend |
0.001 |
2.427 |
2.397 |
|
|
BALANCE CARRIED
TO THE B/S |
50.571 |
44.866 |
84.378 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales |
NA |
7.966 |
9.640 |
|
|
TOTAL EARNINGS |
NA |
7.966 |
9.640 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.07 |
28.73 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
3.22 |
5.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
4.78 |
9.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.25 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.41
|
2.91 |
2.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.72
|
2.88 |
2.96 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
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 |
REVIEW OF OPERATIONS
During the year, the Total Revenue from Operations of the Company was reported at Rs. 942.750 Millions as against to Rs. 877.847 Millions of the Previous Year, registering a growth of about 7.39 %. The Company has earned a Profit after tax of Rs. 6.009 Millions as compared to Profit after tax of Rs. 28.451 Millions of the previous year. Although the Turnover of the Company has been increased, the profitability of the Company for the Year under Report has dropped drastically.
The drop in the Profitability is mainly because of the Rupee depreciation in the international market, which has resulted in an increase in the cost of imported raw material utilized by the Company. As the Members are aware the basic Raw Material required by the Company in its production process is Copper clad Laminates which is a imported item. Because of the Rupee devaluation the cost of the said raw material is increased during the entire Year, and the material consumption increased to 60.51% as against 56.13% of the previous Year, which in monitory terms comes to around Rs. 40.867 Millions.
The Company had to raise additional financial resources to fund the said increased cost of Raw Material which has resulted in the higher Finance Cost. During the Year the Company had incurred an amount of Rs. 83.666 Millions on Finance Cost as against Rs. 47.971 Millions of the earlier Year, which is higher by around Rs. 35.695 Millions.
The said additional cost burden could not be absorbed by increasing the Selling Prices of the Products of the Company. On the other hand the Customers of the Company are aggressively negotiating in the prices and are demanding for lower prices.
This happened mainly because of the competitive market conditions prevailing in the market, and the general economic scenario in all most all industries of not getting corresponding hike in the Selling Prices as compared to the increased cost of raw material prices and other expenses of the Company.
Had it not been there, the performance of the Company for the Year would have been much much better, but the Company could not achieve the same due to external factors. The quality of the Products manufactured by the Company is of very high standard and the Company is following stringent manufacturing procedures, checks and norms. The rejection percentage of the Products is almost Nil and all the Customers of the Company are very happy of the quality that the Company is delivering to them.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U32104PN1982PTC028059 |
|
Name of the
company |
SHOGINI
TECHNOARTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Gat
No.788, Khed Shivapur, Tal Haveli, District Pune-412205, |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the modified |
90082793 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) · Others |
|
Particular of
charge holder |
The Saraswat Co-Operative Bank Limited, SME Branch, C-2 Kohinoor Estate Co-Operative Housing, Plot No 12 Mula Road, Pune - 411003, Maharashtra, India |
|
Nature of instrument
creating charge |
Letter of
Saraswat co-oprative Bank Limited confirming full repayment of corporate loan
of Rs. 50.000 Millions. |
|
Date of
instrument Creating the charge |
21.06.2012 |
|
Amount secured by
the charge |
Rs. 500.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest PLR LESS 2.50% P.A. I.E. 11% P.A.. Terms of Repayment cash credit - repayable on demand letter of credit - 180 days - Interest to be paid separately. Margin For cash credit:-
stocks 25%, debtors within 90 days 25%, debtors above 90 days till 120 days
50%. For letter of
credit one time - 5% in FDR. Extent and Operations of the charge First and
exclusive charge Others The loan amount
of Rs. 500.000/- comprises of CC Rs. 250.000/-, LC |
|
Short particulars
of the property charged |
·
The
Security Continues As Below:- Hypothecation of Movable Property Like Stock, Tangible Movable
Property Both Present and Future ·
Lying
at 5(P), 2/4/2, Shogini Bldg, Ambegaon Bk, Pune And Hypothecation of Book
Debts, Outstandings, Monies Receivable, Cliams and Bills Which Are Now Due or
Become Due. ·
And
Mortgage by Deposit of Title Deeds of Immovable Property Mentioned In The
Annxeure Attached Herewith As Main Security. |
|
Date of
instrument modifying the charge |
20.06.2012 |
|
Particulars of
the present modification |
Loan amount reduced from Rs. 550.000/- to Rs. 500.000/-, i.e. by Rs. 50.000/-. The corporate loan of Rs 50.000/- has been fully repaid by the company. Now the present loan of Rs. 500.000/- comprises of:- 1) CC Rs. 250.000/- 2) LC Rs. 250.000/- ___________ Total:- Rs. 500.000/- =========== |
UNSECURED LOAN
(Rs in Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Deferred sales tax loan |
1.978 |
3.943 |
|
Deposits from directors |
181.815 |
179.575 |
|
Deposits from others |
0.240 |
0.120 |
|
Intercorporate deposits |
11.200 |
11.200 |
|
Total |
195.233 |
194.838 |
|
|
|
|
Fixed Assets
- Land
- Building
- Plant and Machinery
- Computer
- Furniture
- Office Equipments
- Water supply Equipments
- Vehicles
- Live Stock
- Building WIP
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] 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. 54.88 |
|
|
1 |
Rs. 83.54 |
|
Euro |
1 |
Rs. 70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
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 |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.