|
Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAHAJ INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1108/09, Farid Nagar Basti, Jodhewal, Ludhiana-141007, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.08.2011 |
|
|
|
|
Com. Reg. No.: |
16-035420 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.354 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18202PB2011PTC035420 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDS08938G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAQCS5382L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Hosiery Garments |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 39000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company having a satisfactory track
record. It has achieved better turnover and profits in its first year of
operation. Trade relations are fair. Business is active. Payment terms are
usually correct and as per commitment. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
1108/09, Farid Nagar Basti, Jodhewal, Ludhiana-141007, Punjab,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Village Seera, Near Youngman Wollen, Rahon Road, Ludhiana, Punjab,
India |
|
Tel. No.: |
91-161-5055092 |
|
E-Mail : |
DIRECTORS
AS ON 15.11.2012
|
Name : |
Mr. Pritpal Singh |
|
Designation : |
Director |
|
Address : |
H No.1108/8, Farid Nagar Basti, Jodhewal, Ludhiana-141001, Punjab,
India |
|
Date of Birth/Age : |
01.03.1956 |
|
Date of Appointment : |
30.08.2011 |
|
DIN No.: |
03592112 |
|
|
|
|
Name : |
Mr. Parminder Singh |
|
Designation : |
Director |
|
Address : |
H No.1108/10, Farid Nagar Basti, Jodhewal, Ludhiana-141001, Punjab,
India |
|
Date of Birth/Age : |
15.12.1984 |
|
Date of Appointment : |
30.08.2011 |
|
DIN No.: |
03592061 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.11.2012
|
Names of Shareholders |
No. of Shares |
|
Pritpal Singh |
62010 |
|
Parminder Singh |
73398 |
|
TOTAL
|
135408 |
AS ON 15.11.2012
|
Equity Shares
Break Up |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Hosiery Garments |
GENERAL INFORMATION
|
Suppliers : |
·
ANGC Trading Planet ·
Baldev Electricals ·
Cheema Building Material Store ·
Ishan Polymers ·
J J Builders ·
J M Cargo Express ·
Oak Shipping Services Private Limited ·
PSB Manufacturing Company ·
Self Store ·
Shri Balaji Industries ·
Shibham Impex Limited ·
Ultratech Cement Limited |
|
|
|
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
Oriental Bank of Commerce, Overseas Branch,
Ludhiana-141008, Punjab, India ·
Axis Bank Limited ·
Indusind Bank Limited ·
Punjab and Sind Bank ·
Punjab National Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vikas Garg and Associates Chartered Accountant |
|
Address : |
B-I, 1185, Satsang Road, Civil Lines, Ludhiana-141001, Punjab, India |
|
Tel. No.: |
91-161-2446075 |
|
Mobile No.: |
91-9814133353 / 9814204675 |
|
PAN No.: |
AAFFV0934M |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
135408 |
Equity Shares |
Rs.10/- each |
Rs. 1.354
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
1.354 |
|
(b) Reserves & Surplus |
|
|
8.500 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
9.854 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
4.055 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total Non-current Liabilities (3) |
|
|
4.055 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
75.519 |
|
(c) Other current
liabilities |
|
|
0.000 |
|
(d) Short-term provisions |
|
|
0.644 |
|
Total Current Liabilities (4) |
|
|
76.163 |
|
|
|
|
|
|
TOTAL |
|
|
90.072 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
11.340 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other Non-current assets |
|
|
0.158 |
|
Total Non-Current Assets |
|
|
11.498 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.379 |
|
(c) Trade receivables |
|
|
70.663 |
|
(d) Cash and cash
equivalents |
|
|
1.458 |
|
(e) Short-term loans
and advances |
|
|
6.074 |
|
(f) Other current
assets |
|
|
0.000 |
|
Total Current Assets |
|
|
78.574 |
|
|
|
|
|
|
TOTAL |
|
|
90.072 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
REVENUE FROM
OPERATION |
|
|
83.836 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
|
77.775 |
|
|
TOTAL EARNINGS |
|
|
77.775 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.03 |
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
one years |
Yes |
|
12] |
Profitability for last
three years |
No |
|
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 |
Yes |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
OTHERS |
|
|
Shri Parminder Singh |
3.250 |
|
Shri Pritpal Singh |
0.805 |
|
|
|
|
TOTAL |
4.055 |
FORM 8
|
Corporate identity
number of the company |
U18202PB2011PTC035420 |
|
Name of the
company |
SAHAJ INDUSTRIES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1108/09, Farid Nagar Basti, Jodhewal, Ludhiana-141007, Punjab, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Oriental Bank of Commerce, Overseas Branch, Ludhiana-141008, Punjab,
India |
|
Nature of
instrument creating charge |
Loan Doc-5
Agreement Of Term Loan |
|
Date of
instrument Creating the charge |
27.06.2012 |
|
Amount secured by
the charge |
Rs. 25.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Bank rate +4.00% Terms of repayment 72 Monthly
Installments of Rs. 0.347 Million Each Starting After A Moratorium of Nine
Months Margin 25% Extent and operation of the charge 100% |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Plant and Machinery |
FIXED ASSETS
·
Land
·
Building under
Construction
·
Machinery
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. 59.36 |
|
|
1 |
Rs. 89.69 |
|
Euro |
1 |
Rs. 77.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.