MIRA
INFORM REPORT
|
Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SPG MULTI TRADE PRIVATE LIMITED (w.e.f. 19.02.2008) |
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Formerly Known
As : |
SHREE TIRUPATI REAL ESTATES PRIVATE LIMITED |
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Registered
Office : |
Prabha Co-operative .Housing Society Limited, Flat No. 10, 2nd Floor, R. B. Mehta Marg, Ghatkopar (East), Mumbai – 400077, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
24.02.2006 |
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Com. Reg. No.: |
11-160006 |
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Capital
Investment / Paid-up Capital : |
Rs. 20.000 Millions |
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CIN No.: [Company Identification
No.] |
U45200MH2006PTC160006 |
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PAN No.: [Permanent Account No.] |
AAJCS7509J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is mainly engaged in trading of coal, cotton and fabric. |
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No. of Employees
: |
Information Denied By Management |
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 |
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Maximum Credit Limit : |
USD 100000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
latest financials are not made available with the government department. As per previous year’s, the company’s profitability appears to be low.
And the external borrowing is high which may have impact on liquidity. However, trade relations are reported to be fair. Business is active.
Payments are unknown. 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB- Cash Credit |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of financial obligation. |
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Date |
March, 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 DENIED
Management Non Co-operative
LOCATIONS
|
Registered Office : |
Prabha Co-operative .Housing Society Limited, Flat No. 10,
2nd Floor, R. B. Mehta Marg, Ghatkopar (East), Mumbai – 400077, Maharashtra,
India |
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Tel. No.: |
91-22-25010506/ 25010508 |
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Fax No.: |
91-22-25010506 |
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E-Mail : |
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Website : |
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Head Office: |
303, Sapphire Arcade, Above Sejal Jewellers, M G Road, Ghatkopar East, Mumbai – 400077, Maharashtra, India |
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Branch Office: |
Located At: · Mumbai · Gandhidham, Gujarat |
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Warehouse: |
Located At: Aurangabad, Maharashtra, India |
DIRECTORS
As on: 22.09.2012
|
Name : |
Mr. Hari Prasad Agrawal |
|
Designation : |
Director |
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Address : |
408, Indrapuri Anish Heritage, Flat No. 203, Indore – 452025, Madhya
Pradesh, India |
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Date of Birth/Age : |
12.04.1966 |
|
Date of Appointment : |
01.04.2009 |
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PAN No.: |
ANBPA9433D |
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DIN No.: |
02476724 |
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Name : |
Mr. Madanlal Goyal |
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Designation : |
Director |
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Address : |
89, M.G. Marg, Sendhwa Barwani
- 451 666, Madhya Pradesh, India |
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Date of Birth/Age : |
20.01.1947 |
|
Date of Appointment : |
01.03.2007 |
|
PAN No.: |
ABUPG6808K |
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DIN No.: |
00456394 |
KEY EXECUTIVES
|
Name : |
Mr. Chandanbala Jain and Associtaes |
|
Designation : |
Company Secretaries |
|
Address : |
A/405, Radhakrishna Gokuldham Building, Near Kara Kendra, Opposite
Sumer Nagar, S. V. Road, Borivali (West), Mumbai – 400092, Maharashtra, India
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 22.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shaily
Prince Goyal |
|
49900 |
|
Ajay
Agarwal |
|
100 |
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Prince
Madanlal Goyal |
|
150000 |
|
Krishnamani Holdings Private Limited, India |
|
1800000 |
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Total |
|
2000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 22.09.2012
|
Category |
Percentage |
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|
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Bodies corporate |
90.00 |
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Directors or relatives of Directors |
10.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is mainly engaged in trading of coal, cotton
and fabric. |
GENERAL INFORMATION
|
No. of Employees : |
Information Denied By Management |
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Bankers : |
IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
G. M. Purohit and Company Chartered Accountant |
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Address : |
212, 213 Tapo Comm. Centre, Ram Mandir Road, Opposite Movie Star Cinema, Goregaon (West), Mumbai – 400104, Maharashtra, India |
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PAN.: |
AADPP8920F |
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Holding Company: |
· Krishnamani Holdings Private Limited, India · Spg ventures Private Limited, India |
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Enterprises which
are owned, or have significant influence of or are
partners with Key management personnel and their
relatives |
SPG Petroleum Limited, India |
CAPITAL STRUCTURE
As on:
31.03.2011ss
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000
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 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
20.000 |
2.000 |
2.000 |
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2] Share Application Money |
0.000 |
9.125 |
0.200 |
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3] Reserves & Surplus |
7.268 |
2.010 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.016) |
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NETWORTH |
27.268 |
13.135 |
2.184 |
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LOAN FUNDS |
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1] Secured Loans |
50.719 |
0.000 |
0.000 |
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2] Unsecured Loans |
56.360 |
26.110 |
0.000 |
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TOTAL BORROWING |
107.079 |
26.110 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
134.347 |
39.245 |
2.184 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.249 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
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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 |
81.826
|
56.145 |
0.000 |
|
|
Sundry Debtors |
228.068
|
35.562 |
0.000 |
|
|
Cash & Bank Balances |
12.537
|
9.008 |
(0.098) |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.131
|
2.824 |
2.257 |
|
Total
Current Assets |
325.562
|
103.539 |
2.159 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
189.752
|
59.644 |
0.020 |
|
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Other Current Liabilities |
1.557
|
3.776 |
0.000 |
|
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Provisions |
2.175
|
0.900 |
0.012 |
|
Total
Current Liabilities |
193.484
|
64.320 |
0.032 |
|
|
Net Current Assets |
132.078
|
39.219 |
2.127 |
|
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MISCELLANEOUS EXPENSES |
0.020 |
0.026 |
0.033 |
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PRE-OPERATIVE EXPENSES |
0.000 |
0.000 |
0.024 |
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|
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TOTAL |
134.347 |
39.245 |
2.184 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
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|
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Turnover |
1165.399 |
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Other Income |
NA |
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TOTAL |
NA |
426.138 |
61.107 |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
1239.698 |
423.211 |
61.112 |
|
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PROFIT BEFORE
TAX |
7.527 |
2.927 |
(0.005) |
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|
|
TAX |
2.269 |
0.900 |
0.011 |
|
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PROFIT AFTER TAX
|
5.258 |
2.027 |
(0.016) |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
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|
Export Earnings |
13.526 |
138.088 |
0.000 |
|
|
TOTAL EARNINGS |
13.526 |
138.088 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
6.77 |
10.13 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
0.47 |
(0.03) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.29
|
2.83 |
(0.23) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.22 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.02
|
6.88 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68
|
1.61 |
67.47 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs
in Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Creditors due to others |
189.752
|
59.644 |
0.000 |
|
Sundry Creditors – Expenses |
0.000
|
0.000 |
0.020 |
|
Total |
189.752
|
59.644 |
0.020 |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
The registered office of the company has been shifted from 203, Standard House 83, M. K. Road, Marine Lines
Mumbai – 400002, Maharashtra, India to present address w.e.f. 01.09.2007
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10198604 |
|
Corporate
identity number of the company |
U45200MH2006PTC160006 |
|
Name of the
company |
SPG MULTI TRADE
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Prabha Co-operative .Housing Society Limited, Flat No. 10, 2nd Floor, R. B. Mehta Marg, Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry regarding extension of Equitable Mortgage dated 04.02.2011. |
|
Date of
instrument Creating the charge |
04.02.2011 |
|
Amount secured by
the charge |
Rs. 200.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC: BBR+ 5.25% LC/BG- 2% p.a Terms of Repayment CC- On demand LC/BG- On due
date Margin CC-25% on stocks
& 30% for book debts up to 90 days. LC/BG-15% in
Fixed Deposit Extent and Operation of the charge The charge is
modified by creating an Equitable Mortgage by deposit of title deeds to secure
due repayment, discharge and redemption by the Company of its Working Capital
facilities of Rs. 200.000 Millions together with interest, additional
interest, liquidated damages, compounded interest, commitment charges, premia
on prepayment or on redemption, costs, charges and expenses and other moneys
payable by the Company to the Bank. |
|
Short particulars
of the property charged |
·
Diverted
land property in gram (village) (Moje) @ Goi Tehsil Sendhwa, District.
Barwani (M.P)-Survey No.21/2/2 together with all bldgs. and structures
thereon and all plant and machinery attached to earth; ·
Diverted
land property in gram (village) (Moje) @ Goi Tehsil Sendhwa, District Barwani
(M.P)-Survey No.21/3/2 together with all bldgs. and structures thereon and
all plant and machinery attached to earth; ·
All
the piece and parcel of prop. i.e. Plot No.1 to 45 in Gat No. 36 Mauje
Hirapur, Taluka and Dist. Aurangabad, Maharashtra together with all buildings
and structures thereon and all Plant and
Machinery attached to earth; ·
Office
No.304 to 314 and 318 to 322 on 3rd Floor and Parking area at Basement
bearing No.15 to 17, 19 to 21 and 24 to 31, Wing 'A' KPCT Tower, Survey
No.16/1/1, CTS No. 912 of Wanawadi, Tal- Haveli, District Pune ·
together
with all bldgs. and structures thereon and
all Plant and Machinery
attached to earth |
|
Particulars of
the present modification |
The credit
facilities enhanced from Rs. 50.000 Millions to Rs.200.000 Millions Mortgage
deed enclosed. |
FINANCIAL RESULTS
The Net Profit for the year under review amounted to Rs.5.258 Millions (Previous Year Net Profit of Rs.2.027 Millions) after provision for taxes of Rs.2.269 Millions (Previous Year Rs. 0.900 Million)
(Rs
in Millions)
|
Unsecured Loan |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
Other debt unsecured |
56.360 |
26.110 |
|
|
|
|
|
Total |
56.360 |
26.110 |
|
|
|
|
FIXED ASSETS
· Vehicles
· Motor Vehicles
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. 54.64 |
|
|
1 |
Rs. 88.17 |
|
Euro |
1 |
Rs. 73.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.