MIRA
INFORM REPORT
|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOHAN LAL COMMODITY MANAGEMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4067, 1st Floor, Naya Bazar, New Delhi-110006 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.08.2009 |
|
|
|
|
Com. Reg. No.: |
55-193172 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.85.533
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93090DL2009PTC193172 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing comprehensive agri-commodity warehouse
management and procurement solutions to farmers, processors, trader, and agri
exchangers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Latest financial i.e. 2011-2012 are missing with the government department. However, from the previous year financial the company seems to be
performing well. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. The company can be considered normal 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 : |
4067, 1st Floor, Naya Bazar, New Delhi-110006, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
C-28, Lawrence Road, Industrial Area, New Delhi-110035, India |
|
Tel. No.: |
91-11-47976600 [100 Lines] |
|
Fax No.: |
91-11-47976698/98 |
|
|
|
|
Regional Office : |
225, Arenja Corner, Plot No. 71, Sector 17, Vashi, Navi Mumbai-400705,
Maharashtra, India |
DIRECTORS
AS ON 29.10.2012
|
Name : |
Mr. Satish Chander Sabharwal |
|
Designation : |
Director |
|
Address : |
B-5/7, Vasant Vihar, New Delhi-110057, India |
|
Date of Birth/Age : |
24.11.1935 |
|
Date of Appointment : |
13.08.2009 |
|
Din No.: |
01327728 |
|
|
|
|
Name : |
Mr. Sandeep Satish Sabharwal |
|
Designation : |
Director |
|
Address : |
B-5/7, Vasant Vihar, New Delhi-110057, India |
|
Date of Birth/Age : |
09.09.1971 |
|
Date of Appointment : |
19.05.2010 |
|
Din No.: |
01327753 |
|
|
|
|
Name : |
Shiamsunder Singhal |
|
Designation : |
Director |
|
Address : |
Flat No. 16, Konark Empress, Dr. E. Moses Road, Worli, Mumbai-400018,
Maharashtra, India |
|
Date of Birth/Age : |
21.10.1966 |
|
Date of Appointment : |
19.05.2010 |
|
Din No.: |
00422796 |
|
|
|
|
Name : |
Mr. Nikhil Nirvan Khattau |
|
Designation : |
Director |
|
Address : |
No. P-4, 1st Floor, Patro Polis, 58, SBS Road, Colaba,
Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1963 |
|
Date of Appointment : |
25.03.2011 |
|
Din No.: |
00017880 |
KEY EXECUTIVES
|
Name : |
Ms. Pooja Rani |
|
Designation : |
Secretary |
|
Address : |
2957/4A, Street No. 12, Ranjit Nagar, South Patel Nagar, New
Delhi-110008, India |
|
Date of Birth/Age : |
24.08.1984 |
|
Date of Appointment : |
29.06.2011 |
|
Pan No.: |
BNGPS3245B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.10.2012
|
Names of Shareholders |
No. of Series A
Preferences Shares |
No. of Series B
Preferences Shares |
No. of Equity
Shares |
|
Sandeep Satish Sabharwal |
-- |
-- |
360000 |
|
Nexus India Direct Investment II, Mauritius |
198148 |
34676 |
14854 |
|
Mayfield FVCI Limited, Mauritius |
-- |
130447 |
54466 |
|
|
|
|
|
|
TOTAL
|
198148 |
165123 |
429320 |
AS ON 29.10.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
16.15 |
|
Directors
or relatives of directors |
|
83.85 |
|
TOTAL |
|
100.00s |
BUSINESS DETAILS
|
Line of Business : |
Providing comprehensive agri-commodity warehouse management
and procurement solutions to farmers, processors, trader, and agri
exchangers. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
Sector 42, Gurgaon-122002, Haryana, India |
|
PAN No: |
ABSFS4151K |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
875948 |
Equity Shares |
Rs.10/- each |
Rs.8.759 Millions |
|
198148 |
Series A Preferences Shares |
Rs.10/- each |
Rs.1.981 Millions |
|
165123 |
Series B Preferences Shares |
Rs.480/- each |
Rs.79.259 Millions |
|
|
Total
|
|
Rs.89.999
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
429320 |
Equity Shares |
Rs.10/- each |
Rs.4.293
Millions |
|
198148 |
Series A Preferences Shares |
Rs.10/- each |
Rs.1.981
Millions |
|
165123 |
Series B Preferences Shares |
Rs.480/- each |
Rs.79.259
Millions |
|
|
Total
|
|
Rs.85.533 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
85.533 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
291.516 |
6.127 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
377.049 |
6.227 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
6.000 |
6.000 |
|
|
TOTAL BORROWING |
|
6.000 |
6.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
383.049 |
12.227 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.780 |
2.537 |
|
|
Capital work-in-progress |
|
2.355 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
1.674 |
0.074 |
|
|
DEFERREX TAX ASSETS |
|
0.665 |
0.058 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
14.070 |
7.947 |
|
|
Cash & Bank Balances |
|
140.437 |
4.786 |
|
|
Other Current Assets |
|
0.015 |
0.000 |
|
|
Loans & Advances |
|
239.255 |
6.214 |
|
Total
Current Assets |
|
393.777 |
18.947 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
6.705 |
5.219 |
|
|
Other Current Liabilities |
|
2.149 |
2.033 |
|
|
Provisions |
|
9.763 |
2.692 |
|
Total
Current Liabilities |
|
18.617 |
9.944 |
|
|
Net Current Assets |
|
375.160 |
9.003 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.415 |
0.555 |
|
|
|
|
|
|
|
|
TOTAL |
|
383.049 |
12.227 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
128.264 |
38.244 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
102.821 |
29.425 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
25.443 |
8.819 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
8.812 |
2.692 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
16.631 |
6.127 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
20.98 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
12.97 |
16.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.42 |
41.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.07 |
1.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.02 |
0.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
21.15 |
1.90 |
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
|
Unsecured Loan |
As
on 31.03.2011 [Rs.
in Millions] |
As
on 31.03.2010 [Rs.
in Millions] |
|
Loans Directors |
6.000 |
6.000 |
|
TOTAL
|
6.000 |
6.000 |
NEWS:
SBI TIES
UP WITH SOHAN LAL COMMODITY MANAGEMENT
23
NOVEMBER, 2012
As part of the tie-up, SBI will provide post-harvest credit facilities while SLCM will offer comprehensive warehouse management and other value-added services to farmers, processors, corporates, exchanges, etc. across 100 plus locations in 20 States and in 32 different agricultural commodities.
State Bank of India (SBI),
India’s largest commercial bank and Sohan Lal Commodity Management Private Limited (SLCM), one of
India’s leading Collateral Management Service Providers and Commodity
Procurement Companies, on Thursday entered into a strategic tie-up for
Warehousing Receipt Financing and Collateral Management Services. The strategic
partnership will deliver post-harvest credit facility to farmers all across
India, empowering farmers through affordable finance, scientific storage
facilities and fair price discovery of their produce. As part of the tie-up,
SBI will provide post-harvest credit facilities while SLCM will offer
comprehensive warehouse management and other value-added services to farmers,
processors, corporates, exchanges, etc. across 100 plus locations in 20 States
and in 32 different agricultural commodities.
SBI will use SLCM's ground experience and direct contact with the farmers to ensure that genuine farmers get credit facilities and their produce is safe in the warehouses, till realisation. SBI, with a network of over 9426 Rural and Semi-urban, 19 Agri Commercial and 428 Agricultural Development Branches (ADBs), is the leader in agri-finance in the country with a portfolio of over Rs. one lakh crore in agri-advances covering more than one crore farmers. This tie-up is another initiative of SBI’s commitment to rural banking and reaching out to the Indian farmer with another credit and financing option. The expected business to follow is approximately Rs.1500.000 Millions during the first full year of operation of the tie-up.
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 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.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.