|
Report Date : |
08.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHAKTI INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303-B, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
21.10.2004 |
|
|
|
|
Com. Reg. No.: |
11-149195 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 10.055
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51220MH2004PTC149195 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS47856E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS4914J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer of Edible Oils. |
|
|
|
|
No. of Employees
: |
Information declined by management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 459000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
management of the company has not made 2010-2011 and 2011-2012 financial
available with the government department. Management remains non co-operative
denied to part any information about the company. However, from the previous
year, the company seems to be performing well. Trade relations are reported
as fair. Business is active. Payments are unknown. The company can be considered for business dealings with slight
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter of Credit : A3 |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
July 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit : BBB- |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
July 2012 |
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.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE (91-22-25707000)
LOCATIONS
|
Registered Office : |
303-B, |
|
Tel. No.: |
91-22-25707000/ 40053333 |
|
Fax No.: |
91-22-56943768/ 40050033 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Srinivaas Venkoba Sirigeri |
|
Designation : |
Managing director |
|
Address : |
C-1601, Lake Castle Co-operative Housing Society Limited, Cliff Avenue
Road, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1961 |
|
Date of Appointment : |
21.10.2004 |
|
DIN No.: |
00107126 |
|
|
|
|
Name : |
Mr. Siddharth Srinivaas Sirigeri |
|
Designation : |
Director |
|
Address : |
C-1601, Lake Castle Co-operative Housing Society Limited, Cliff Avenue
Road, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1985 |
|
Date of Appointment : |
21.10.2004 |
|
DIN No.: |
00107391 |
|
|
|
|
Name : |
Mr. Shreyas Srinivaas Sirigeri |
|
Designation : |
Additional director |
|
Address : |
C-1601, Lake Castle Co-operative Housing Society Limited, Cliff Avenue
Road, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1985 |
|
Date of Appointment : |
23.07.2012 |
|
DIN No.: |
03313676 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Srinivaas Sirigeri |
|
1240000 |
|
Siddharth Sirigeri |
|
21000 |
|
Padmaja S. Sirigeri |
|
300000 |
|
Jayshree H. Gor |
|
50000 |
|
Jayshree D. Makani |
|
50000 |
|
Vijay P. Motta |
|
50000 |
|
Vipul N. Kotak |
|
50000 |
|
Shantaram B. Khilari |
|
50000 |
|
Rupa H. Tanna |
|
50000 |
|
Genus Comu Trade Limited, India |
|
50000 |
|
RFL International Limited, India |
|
50000 |
|
Ken Securities Limited, India |
|
50000 |
|
Total |
|
2011000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
7.47 |
|
Directors
or relatives of directors |
|
77.59 |
|
Other
top fifty shareholders |
|
14.94 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer of Edible Oils. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management. |
|
|
|
|
Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda –
390015, Gujarat, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D. C. Bothra and Company Chartered Accountants |
|
Address : |
297, Tardeo Road, Willie Mansion, Nana Chowk, Mumbai – 400007, Maharashtra, India |
|
Tel. No.: |
91-22-23876643/ 64551656 |
|
Fax No.: |
91-22-23876943 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4645G |
|
|
|
|
Group Company : |
Shakti Enterprises |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,011,000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.110
Millions |
|
|
|
|
|
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,005,500 |
Equity Shares |
Rs. 10/- each |
Rs. 10.055
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.055 |
3.550 |
2.050 |
|
|
2] Share Application Money |
0.000 |
7.550 |
6.650 |
|
|
3] Reserves & Surplus |
104.782 |
28.730 |
14.439 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
114.837 |
39.830 |
23.139 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
39.180 |
|
|
2] Unsecured Loans |
57.895 |
1.453 |
10.810 |
|
|
TOTAL BORROWING |
57.895 |
1.453 |
49.990 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
172.732 |
41.283 |
73.129 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.446 |
0.554 |
0.723 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
59.930 |
8.800 |
5.200 |
|
|
DEFERRED TAX ASSETS |
0.095 |
0.101 |
0.113 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
182.035
|
0.000 |
38.710 |
|
|
Sundry Debtors |
62.109
|
3.855 |
9.975 |
|
|
Cash & Bank Balances |
243.452
|
26.018 |
6.964 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
62.996
|
5.730 |
33.617 |
|
Total
Current Assets |
550.592
|
35.603 |
89.266 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
418.435
|
2.166 |
15.102 |
|
|
Other Current Liabilities |
17.283
|
0.000 |
0.041 |
|
|
Provisions |
2.662
|
1.670 |
7.104 |
|
Total
Current Liabilities |
438.380
|
3.836 |
22.247 |
|
|
Net Current Assets |
112.212
|
31.767 |
67.019 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.049 |
0.061 |
0.074 |
|
|
|
|
|
|
|
|
TOTAL |
172.732 |
41.283 |
73.129 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
490.319 |
87.292 |
187.451 |
|
|
|
Other Income |
31.652 |
5.000 |
13.979 |
|
|
|
TOTAL |
521.971 |
92.292 |
201.430 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of sales and services |
483.885 |
64.770 |
147.358 |
|
|
|
Operating and Administrative Expenses |
6.489 |
9.304 |
30.630 |
|
|
|
Preliminary expenses |
0.012 |
0.012 |
0.012 |
|
|
|
Donation |
0.866 |
1.500 |
1.001 |
|
|
|
TOTAL |
491.252 |
75.586 |
179.001 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
30.719 |
16.706 |
22.429 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.875 |
1.773 |
3.105 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
27.844 |
14.933 |
19.324 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENT |
0.046 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
27.798 |
14.933 |
19.324 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.291 |
5.742 |
7.262 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
17.507 |
9.191 |
12.062 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
23.630 |
14.439 |
2.377 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
41.137 |
23.630 |
14.439 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
606.960 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
31.87 |
34.36 |
58.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.35
|
9.96
|
5.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.67
|
17.11
|
10.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.04
|
41.30
|
21.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.37
|
0.84 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.32
|
0.13
|
3.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
9.28
|
4.01 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
(Rs. In Millions) |
||
|
Creditors for Goods |
415.576 |
1.418 |
4.718 |
|
Creditors for Expenses |
2.859 |
0.748 |
10.384 |
|
Sundry Creditors |
418.435 |
2.166 |
15.102 |
|
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 |
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 |
No |
|
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 |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51220MH2004PTC149195 |
|
Name of the
company |
SHAKTI
INTERNATIONAL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
303-B, Alpha Main Street, Hiranandani Gardens, Powai, Mumbai – 400076,
Maharashtra, India Email: anil@shaktigroup.net |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Others [entire current assets of the company] |
|
Particular of
charge holder |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015,
Gujarat, India Email: jitendra.agarwal@icicibank.com
CIN No.: L65190GJ1994PLC021012 |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation dated 17th February 2012 executed to create First Pari passu
charge on Entire stocks of raw materials, goods in process, semi finished and
finished goods, consumable stores and spares and such other movables,
including book debts, bills, whether documentary or clean, both present and
future, both present and future in a form and manner satisfactory to the
Bank, ranking pari passu with other existing bankers. |
|
Date of
instrument Creating the charge |
17.02.2012 |
|
Amount secured by
the charge |
Rs. 20.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
terms Terms of Repayment payable on demand Margin as per sanction
terms Extent and Operation of the charge First Pari Passu
charge with other participating bankers, on Entire stocks of raw materials,
goods in process, semi finished and finished goods, consumable stores and
spares and such other movables, including book debts, bills, whether
documentary or clean, both present and future, both present and future. |
|
Short particulars
of the property charged |
Entire stock of
raw material, finished goods, stock in transit, book debts and current assets
of the company situated anywhere. |
FIXED ASSETS:
Ø
Motor Car
Ø
Office Equipment
Ø Laptop
Ø Printer
Ø Computer
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. 54.98 |
|
|
1 |
Rs. 88.11 |
|
Euro |
1 |
Rs. 71.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.