MIRA INFORM REPORT
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Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SHIRKE ENGINEERING AND FABRICATION COMPANY PRIVATE LIMITED |
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Registered
Office : |
Plot No. 47, F-II Block, MIDC, Bhosari, Pune-411026, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of Incorporation
: |
22.02.1993 |
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Com. Reg. No.: |
11-070898 |
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Capital
Investment / Paid-up Capital : |
Rs.0.990 Million |
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CIN No.: [Company Identification
No.] |
U29299PN1993PTC070898 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Engineering Goods. |
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No. of Employees
: |
30 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 41000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of proprietary concern started in the year
1983. And later in the year 1993 in got converted into private limited
company. It is having a satisfactory track record. Trade relations are reported
to be usually correct and as per commitments. The company can be considered for normal 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.
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 PARTED BY
|
Name : |
Mr. Sameer Subhash Shirke |
|
Designation : |
Director |
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Contact No.: |
91-9371009081 |
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Date : |
07.06.2013 |
LOCATIONS
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Registered Office/ Factory : |
Plot No. 47, F-II Block, MIDC, Bhosari, Pune-411026, Maharashtra,
India |
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Tel. No.: |
91-20-30781181/ 82/ 83/ 84/ 85/ 27470751 |
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Mobile No.: |
91-9371009081 [Mr. Sameer] |
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Fax No.: |
91-20-27470751 |
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E-Mail : |
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Area : |
40000 sq. ft. |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mrs. Urmila Subhash Shirke |
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Designation : |
Director |
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Address : |
C-5, Bunea Vista CHS, New Pashan Baner, Link Road, Pune, Maharashtra,
India |
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Date of Birth/Age : |
21.02.1948 |
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Date of Appointment : |
01.04.2001 |
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Din No.: |
00412778 |
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Name : |
Mr. Sameer Subhash Shirke |
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Designation : |
Director |
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Address : |
C-5, Bunea Vista CHS, New Pashan Baner, Link Road, Pune, Maharashtra,
India |
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Date of Appointment : |
22.02.1993 |
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Din No.: |
00412696 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
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No. of Shares |
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Urmila Subhash Shirke |
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8700 |
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Sameer Subhash Shirke |
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14200 |
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Bapusheb Shirke |
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2000 |
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Deepali Sameer Shirke |
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1800 |
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TOTAL
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26700 |
AS ON 30.09.2012
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Engineering Goods. |
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Exports : |
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Products : |
Engineering Goods |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
Essar Steel |
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Customers : |
End Users
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No. of Employees : |
30 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R.Y. Kulkarni and Associates Chartered Accountants |
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Address : |
1st Floor, Mahdhav Apartment, Shri 8, Datta Mandir,
Shridhar Nagar, Chinchwad, Pune-411033, Maharashtra, India |
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Tel. No.: |
91-20-27353972/26221105 |
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E-Mail : |
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PAN No: |
ACDPK4982E |
CAPITAL STRUCTURE
AS ON 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity Shares |
Rs.100/- each |
Rs.3.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
26700 |
Equity Shares |
Rs.100/- each |
Rs.2.670
Millions |
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9900 |
Equity Shares |
Rs.100/- each |
Rs.0.990
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.990 |
0.990 |
0.990 |
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2] Share Application Money |
0.980 |
0.980 |
0.980 |
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3] Reserves & Surplus |
8.327 |
6.724 |
5.490 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
10.297 |
8.694 |
7.460 |
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LOAN FUNDS |
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1] Secured Loans |
5.199 |
4.405 |
4.575 |
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2] Unsecured Loans |
0.006 |
0.006 |
0.006 |
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TOTAL BORROWING |
5.205 |
4.411 |
4.581 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
15.502 |
13.105 |
12.041 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.004 |
4.626 |
5.118 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.100 |
0.100 |
0.100 |
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DEFERREX TAX ASSETS |
0.078 |
0.028 |
0.097 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.008
|
1.168 |
0.254 |
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Sundry Debtors |
6.208
|
3.555 |
6.756 |
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Cash & Bank Balances |
8.536
|
9.852 |
5.435 |
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Other Current Assets |
0.704
|
0.393 |
1.527 |
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Loans & Advances |
3.518
|
1.522 |
2.400 |
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Total
Current Assets |
20.974
|
16.490 |
16.372 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
6.443
|
6.877 |
8.163 |
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Other Current Liabilities |
2.266
|
0.557 |
0.000 |
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Provisions |
0.945
|
0.705 |
1.483 |
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Total
Current Liabilities |
9.654
|
8.139 |
9.646 |
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Net Current Assets |
11.320
|
8.351 |
6.726 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
15.502 |
13.105 |
12.041 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
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Other Income |
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TOTAL |
34.268 |
25.501 |
31.501 |
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Less |
EXPENSES |
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TOTAL |
31.753 |
23.376 |
28.993 |
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PROFIT / (LOSS)
BEFORE TAX |
2.515 |
2.125 |
2.508 |
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TAX |
0.797 |
0.775 |
0.730 |
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PROFIT / (LOSS)
AFTER TAX |
1.718 |
1.350 |
1.778 |
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EARNINGS IN
FOREIGN CURRENCY |
2.928 |
0.000 |
0.000 |
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Earnings /
(Loss) Per Share (Rs.) |
173.54 |
136.36 |
179.60 |
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Particulars |
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|
31.03.2013 |
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Sales Turnover [Approximately] |
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|
40.000 |
Expected Sales (2013-14) : Rs.40.000 Millions.
The above information has been parted by Mr. Sameer Subhash Shirke.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.01
|
5.29 |
5.64 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.07
|
10.06 |
11.67 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.24 |
0.34 |
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Debt Equity Ratio (Total Debt/Networth) |
|
0.51
|
0.51 |
0.61 |
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Current Ratio (Current Asset/Current Liability) |
|
2.17
|
2.03 |
1.70 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
|
Sundry Creditors |
6.443
|
6.877 |
8.163 |
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Sr. No. |
Check List by
Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
Yes |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact person |
Yes |
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11] |
Turnover of firm for last three years |
Yes |
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12] |
Profitability for last three years |
Yes |
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13] |
Reasons for variation <> 20% |
-- |
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14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
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17] |
Major suppliers |
Yes |
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18] |
Major customers |
Yes |
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19] |
Payments terms |
Yes |
|
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 |
-- |
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26] |
Buyer visit details |
-- |
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27] |
Financials, if provided |
Yes |
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28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
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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 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Unsecured Loan |
0.006 |
0.006 |
|
TOTAL
|
0.006 |
0.006 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10057075 |
|
Corporate
identity number of the company |
U29299PN1993PTC070898 |
|
Name of the
company |
SHIRKE
ENGINEERING AND FABRICATION COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 47, F-II Block, MIDC, Bhosari, Pune-411026, Maharashtra,
India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Floating Charge |
|
Particular of
charge holder |
The Cosmos Co-operative Bank Limited, 269/270, Shaniwar Peth, Pimpri
Branch, Pune-411030, Maharashtra, India Email: mandevazecs@gmail.com
|
|
Nature of description
of the instrument creating or modifying the charge |
Deed of
hypothecation of stock , book debts and machinery dated 05.03.2013 |
|
Date of
instrument Creating the charge |
05.03.2013 |
|
Amount secured by
the charge |
Rs.5.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @ 13.50% p.a. as
presently applicable / flexible Terms of Repayment Period :
repayable on demand / review within 12 months Margin 25% in banks
favour Extent and Operation of the charge The charge shall
continue to operate untill full repayment of loan facility is enjoyed by the
company. Others Cash credit of
Rs.5.000 Millions (existing Rs.3.500 Millions + additional Rs.1.500 Millions)
for working capital finance |
|
Short particulars
of the property charged |
Stock and debtors Machinery |
|
Particulars of
the present modification |
Existing cash
credit limit of Rs.3.500 Millions is enhanced by Rs.1.500 Millions, making a total
charge of Rs.5.000 Millions |
FIXED ASSETS:
- Plant and
Machinery
- Tools and
Equipments
- Furniture and
Fixtures
- Electrical
Installation
- Vehicles
- Office
Equipments
- Computer
- Gen Set
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.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.