MIRA
INFORM REPORT
|
Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAURAV CHEMICALS LIMITED |
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Registered
Office : |
Village Saidpura, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
20.12.1993 |
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Com. Reg. No.: |
16-014017 |
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Capital
Investment / Paid-up Capital : |
Rs. 45.000
Millions |
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CIN No.: [Company Identification
No.] |
U24112PB1993PLC014017 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PTLS13480F |
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PAN No.: [Permanent Account No.] |
AACCS4745B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader and Exporter of Industrial Chemicals. |
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No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 630000 |
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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 an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
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Rating |
Long term rating: BB+ |
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Rating Explanation |
Having vulnerability to default risk particularly in the event of adverse
changes in business or economic condition. |
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Date |
March, 2013 |
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. Ajay Kumar |
|
Designation : |
Purchase Department |
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Contact No.: |
91-172-5054817 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Village Saidpura, Derabassi Barwala Road, Derabassi, District Mohali –
140507, Punjab, India |
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Tel. No.: |
91-1762-280334/ 522311-12 |
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Mobile No.: |
91-9815970203 (Mr. U. D. Singh) |
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Fax No.: |
91-1762-280734/ 522313 |
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E-Mail : |
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Website: |
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Factory 2: |
Village Bhawanpura, Derabassi Barwala Road, Derabassi District,
Mohali-140507, Punjab, India |
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Head / Corporate
Office : |
Plot No.370, Industrial
Area, Phase-II, Panchkula – 134109,
Haryana, India |
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Tel. No.: |
91-172-5054817-18, 2595762-63 |
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Fax No.: |
91-172-2595767 |
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E-Mail : |
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International Division: |
308, Phase-IV, Udyog Vihar, Gurgaon – 122016, Haryana,
India |
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Tel. No.: |
91-124-4967500 / 4967502 |
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Fax No.: |
91-124-4967510 |
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E-Mail : |
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Administrative Office: |
S.C.F. 287, Motor Market, Manimajra, Chandigarh – 160101, India |
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Tel No.: |
91-172-2732878 / 2733082 |
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Fax No.: |
91-172-2734549 |
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Branch Office : |
Located at : ·
Bangalore |
DIRECTORS
As on 19.09.2012
|
Name : |
Mr. Praveen Goyal |
|
Designation : |
Managing Director |
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Address : |
# 917, Sector 2, Panchkula, Haryana, India |
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Date of Birth/Age : |
08.02.1961 |
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Date of Appointment : |
01.04.2002 |
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Qualification : |
B.E |
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PAN No.: |
ABJPG4358H |
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Voter ID No.: |
HR/01/01/390263 |
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DIN No: |
00155519 |
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Name : |
Mr. Udayan Sengupta |
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Designation : |
Whole Time Director |
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Address : |
M-2/49, Model Town, Phase-III, Delhi, India |
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Date of Birth/Age : |
11.07.1960 |
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Qualification : |
B.E |
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Date of Appointment : |
04.10.2005 |
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PAN No.: |
ACRPS9006R |
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DIN No: |
00155415 |
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Name : |
Mr. Kirpal Singh Pal |
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Designation : |
Whole-time Director |
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Address : |
# H-82, Sarita Vihar, |
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Date of Birth/Age : |
15.02.1941 |
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Qualification : |
B.E, MBA |
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Date of Appointment : |
04.02.2004 |
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PAN No.: |
AAAPP0451C |
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DIN No: |
00155148 |
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Name : |
Mr. Avtar Singh |
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Designation : |
Director |
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Address : |
# 5411, Sector 38 (W), Chandigarh, India |
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Date of Birth/Age : |
04.10.1958 |
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Date of Appointment : |
01.08.2002 |
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PAN No.: |
ACJPS5761R |
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DIN No: |
00063569 |
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Name : |
Mr. Sameer Saingla |
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Designation : |
Whole Time Director |
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Address : |
# 9, Poorvi Marg, Vasant Vihar, |
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Date of Birth/Age : |
01.03.1974 |
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Qualification : |
B.Tech, MBA (USA) |
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Date of Appointment : |
01.07.2007 |
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PAN No.: |
ARXPS9629P |
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DIN No: |
01072489 |
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Name : |
Ms. Shweta Mehta |
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Designation : |
Additional Director |
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Address : |
#9,Poorvi Marg, Vasvant Vihar, Delhi, India |
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Date of Birth/Age : |
08.01.1979 |
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Date of Appointment : |
19.09.2012 |
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PAN No.: |
AMLPS4157K |
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DIN No.: |
00158195 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Kumar |
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Designation : |
Purchase Department |
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Name : |
Mr. Sarabjit Singh |
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Designation : |
Secretary |
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Address : |
H. No.54, Sector-71, Mohali, Punjab, India |
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Date of Birth/Age : |
31.05.1972 |
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Date of Appointment : |
13.07.2012 |
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PAN No.: |
AGPPS0828K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
holding |
|
Praveen Goyal |
1203298 |
26.74 |
|
Sunita Goyal |
337510 |
7.50 |
|
Gaurav Goyal |
258904 |
5.75 |
|
Saurav Goyal |
258904 |
5.75 |
|
Neha Goyal |
231404 |
5.14 |
|
Hari Chand Goyal |
4830 |
0.11 |
|
Kesro Devi |
150 |
0.01 |
|
Praveen Goyal and Sons (HUF) |
225000 |
5.00 |
|
Sameer Singla |
1423500 |
31.63 |
|
Udayan Sengupta |
225000 |
5.00 |
|
Indian Voice (Private) Limited, |
331500 |
7.37 |
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Total
|
4500000 |
100.00 |
Allottees as 15.02.2013
|
Names of Allottees |
|
No. of Shares |
|
Mitsubishi Corporation, Japan |
|
500000 |
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Total |
|
500000 |
As on 19.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
7.37 |
|
Directors or relatives of Directors |
92.63 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader and Exporter of Industrial Chemicals. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
USA ·
Europe |
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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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Customers : |
End Users |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
·
Punjab National Bank, Large Corporate Branch,
Sector-17-B, Chandigarh – 160017, India Tel. No.: 91-172-2703167 ·
State Bank of Patiala, Sector 35-C, Chandigarh -
160017, India Tel. No.: 91-172-2603270 · HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India · State Bank of India, Industrial Area, Phase 1, Chandigarh-160002, India · Citi bank, Citi bank nk, Chandigarh - 160017, India |
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Facilities : |
Note: - PNB Term Loans secured by way of First Pari Passu Charge with SBI on all the fixed and moveable assets including Plant and Machinery of the units both present and future, of Unit of the company located at Village Saidpura, Village Bhagwanpura and Panchkula with equitable mortgage of factory land and building with collateral as Equitable mortgage of Immovable Properly at Plot No. 370, Industrial Area, Phase – II, Panchkula in the name of company and personal Guarantee of the director Mr. Parveen Goyal and Sameer Singla. - SBI Term Loans secured by First Pari Passu charge with PNB on all the fixed and moveable assets including Plant and Machinery of the units both present and future, of Ihe company located at Village Saidpura, Village Bhagwanpura and Panchkula with equitable mortgage of factory land and building with collateral security as equitable mortgage of residential property bearing No. 91.7, Sector- 2, Panchkula,measuring 325 sq Mts. In the name of director Mr. Parveen Goyal and personal guarantees of Parveen Goyal and Sameer Singla . - PNB Working Capital Loans secured by primary security of First and Exclusive charge on the entire current assets, present and future, of Unit of the company at village Bhagwanpura with collateral security of Second paripassu charge on all the fixed and moveable assets, both present and future, of Unit of the company located at Village Saidpura, Village Bhagwanpura and Panchkula alongwith personal Guarantee of the director Mr. Parveen Goyal and Sameer Singla. - SBI Working Capital Loans secured by primary security of First and Exclusive charge on the entire current assets, ‘present and future, of Unit of the company at village Saidpura with collateral security of second pari passu charge on all the fixed and moveable assets, both present and future, of Unit of the company located at Village Saidpura, Village Bhagwanpura and Panchkula alongwifh Personal Guarantee of the director Mr. Parveen Goyal and Sameer Singla. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.Tandon and Associates Chartered Accountants |
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Address : |
SCO-201-203, 3rd Floor, Sector-34A, Chandigarh-160022,
India |
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PAN No.: |
AASFS7956F |
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Partnership Firms where director is partner : |
SCL Distribution (Partnership) |
CAPITAL STRUCTURE
After 19.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
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|
As on 19.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
45.000 |
45.000 |
|
(b) Reserves & Surplus |
|
111.284 |
89.645 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) Long-term borrowings |
|
175.494 |
149.655 |
|
(b) Deferred tax liabilities (Net) |
|
40.020 |
37.800 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
136.547 |
119.622 |
|
(b) Trade payables |
|
189.705 |
106.078 |
|
(c) Other current
liabilities |
|
31.110 |
19.021 |
|
(d) Short-term provisions |
|
11.512 |
8.511 |
|
TOTAL |
|
740.672 |
575.332 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
287.919 |
267.035 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
1.525 |
1.056 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.00 |
0.000 |
|
(d) Long-term Loan and Advances |
|
3.267 |
3.705 |
|
(e) Other Non-current assets |
|
27.894 |
26.037 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
287.362 |
147.187 |
|
(c) Trade receivables |
|
97.070 |
103.543 |
|
(d) Cash and cash
equivalents |
|
11.012 |
8.448 |
|
(e) Short-term loans and
advances |
|
1.318 |
0.643 |
|
(f) Other current assets |
|
23.305 |
17.678 |
|
TOTAL |
|
740.672 |
575.332 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
36.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
57.951 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
94.451 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
243.108 |
|
|
2] Unsecured Loans |
|
|
67.630 |
|
|
TOTAL BORROWING |
|
|
310.738 |
|
|
DEFERRED TAX LIABILITIES |
|
|
35.537 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
440.726 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
250.834 |
|
|
Capital work-in-progress |
|
|
16.843 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
122.867
|
|
|
Sundry Debtors |
|
|
84.945
|
|
|
Cash & Bank Balances |
|
|
5.785
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
30.043
|
|
Total
Current Assets |
|
|
243.640
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
72.580 |
|
|
Other Current Liabilities |
|
|
19.667
|
|
|
Provisions |
|
|
4.057
|
|
Total
Current Liabilities |
|
|
96.304
|
|
|
Net Current Assets |
|
|
147.336
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
25.713 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
440.726 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
853.652 |
632.992 |
511.975 |
|
|
|
Other Income |
8.428 |
2.142 |
4.058 |
|
|
|
TOTAL (A) |
862.080 |
635.134 |
516.033 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
541.044 |
346.800 |
|
|
|
|
Manufacturing Expenses |
129.066 |
104.817 |
455.763 |
|
|
|
Employee Benefits expenses |
92.653 |
76.371 |
|
|
|
|
Administrative Expenses |
38.191 |
31.418 |
|
|
|
|
Selling Expenses |
10.560 |
8.651 |
|
|
|
|
Extraordinary Items |
0.001 |
0.013 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(64.687) |
(24.394) |
|
|
|
|
TOTAL (B) |
746.828 |
543.676 |
455.763 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
115.252 |
91.458 |
60.270 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
48.684 |
40.639 |
39.411 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
66.568 |
50.819 |
20.859 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.459 |
29.434 |
17.867 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
30.109 |
21.385 |
2.992 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.470 |
6.691 |
2.312 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
21.639 |
14.694 |
0.680 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
29.145 |
14.451 |
13.771 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
50.784 |
29.145 |
14.451 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales |
149.844 |
92.370 |
87.968 |
|
|
|
Other Income |
0.505 |
0.054 |
0.237 |
|
|
TOTAL EARNINGS |
150.349 |
92.424 |
88.2054 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
187.844 |
72.141 |
95.025 |
|
|
|
Traveling Expenses |
0.000 |
0.000 |
2.480 |
|
|
|
Capital Goods |
3.837 |
2.751 |
0.000 |
|
|
TOTAL IMPORTS |
191.681 |
74.892 |
97.505 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.81 |
3.95 |
0.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.51
|
2.31
|
0.13
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.53
|
3.38
|
0.58
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.07
|
3.72
|
0.61
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.16
|
0.03
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.00
|
2.00
|
3.29
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.10
|
2.53
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
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 |
----- |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
RESULTS OF OPERATIONS
Sales and other income for the year was Rs. 859.080 millions as against Rs. 635.133 millions during the previous period recording a healthy increase of 35.25%. The details of the Company's performance on various parts compared with last year are as per details below:-
(Rs. In millions)
|
Sale |
Previous Year |
Current Year |
% age Increase/ Decrease |
|
Manufacturing |
630.692 |
852.564 |
35.18 |
|
Trading and distribution |
2.299 |
1.088 |
-52.67 |
|
Other Income |
2.142 |
5.428 |
153.40 |
|
Total |
635.133 |
859.080 |
35.26 |
Company has added fixed assets during the year worth Rs 43.251 millions and has deleted/adjusted fixed assets during the period under review for Rs. 3.691 millions thereby the gross block of fixed assets has increased to Rs. 406.155 millions.
The earning per share has increased from Rs 3.95 to Rs 4.81. Dividend
The Board has not recommended any dividend during the year as the funds generated from operations are being used for expansion of the Company.
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Long Term
Borrowing |
|
|
|
Other Loans |
|
|
|
From Director |
15.900 |
19.099 |
|
From Others |
119.050 |
96.472 |
|
Short Term
Borrowing |
|
|
|
Other Loans and
Advances |
|
|
|
Advance from Customers |
1.105 |
0.622 |
|
Total |
136.055 |
116.193
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24112PB1993PLC014017 |
|
Name of the
company |
SAURAV CHEMICALS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Village Saidpura, Derabassi Barwala Road, Derabassi, District Mohali –
140 507, Punjab, India E-mail: satwinder@sauravchemicals.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10407458 |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India E-mail: RBBform8@hdfcbank.com |
|
Nature of instrument creating charge |
Letter dated 01/04/2013 issued from HDFC Bank Limited |
|
Date of
instrument Creating the charge |
01.04.2013 |
|
Amount secured by
the charge |
Rs.148.700
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of Repayment Working Capital
facility shall be payable on demand. Term Loan
facility shall be repayable in suitable installments. Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge The bank has
confirmed that the hypothecation by way of first charge in respect of Stocks,
Book Debts, Movable Plant and Machinery, Vehicles and Other Fixed Assets shall now restrict to the Unit -1 of the
Company situated at Village Saidpura, Derabassi, Punjab as stated under item No.15 as security for
the due repayment of Rs.148.700 Millions, including principal amount of the Facility, interest, liquidated
damages, costs, charges and expenses etc. Others Following facilities sanctioned by Bank to Company : Cash Credit of Rs.65.000 Millions Term Loan-I of Rs.12.000 Millions Term Loan-II of Rs.10.000 Millions WCTL of Rs.10.000 Millions ILC/FLC of Rs.47.500 Millions PSR of Rs.4.200 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by
way of First Charge on Stocks, Book Debts, Movable Plant and Machinery,
Vehicles and other Fixed Assets of the Unit - 1 of Company, situated at
Village Saidpura, Derabassi, Punjab. |
|
Particulars of
the present modification |
The bank has
confirmed that the hypothecation by way
of first charge in respect of Stocks, Book Debts, Movable Plant and
Machinery, Vehicles and Other Fixed Assets
shall now restrict to the Unit -1 of the Company situated at Village
Saidpura, Derabassi, Punjab as security for the due repayment of Rs.1487
Lacs, including principal amount of the Facility, interest, liquidated
damages, costs, charges and expenses. |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
|
|
|
Counter guarantees to banks |
0.006 |
|
|
|
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Data Processing Equipment
· Electrical Equipments
· Furniture and Fixtures
· Office Equipments
· Car
· Commercial Vehicles
· Scooter
·
Cycle
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.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.