MIRA
INFORM REPORT
|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOLDSEAL - SAARGUMMI INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Goldseal House, Village Road, Bhandup, Mumbai – 400078, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.08.1997 |
|
|
|
|
Com. Reg. No.: |
11-110354 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 31.884 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1997PTC110354 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05321B |
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Motor Vehicles Parts and Accessories |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 220000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Gold Seal, India and Saargummi,
Germany. It is an established company having satisfactory track record. There appears dip in the profitability during 2012. However, company
has achieved better growth in its sales turnover. The company provides
dividend every year. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of strong holdings and experienced
promoters, 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.
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. Samuel |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-67370332 |
|
Date : |
19.06.2013 |
LOCATIONS
|
Registered Office : |
Goldseal House, Village Road, Bhandup, Mumbai – 400078, Maharashtra,
India |
|
Tel. No.: |
91-22-25663498 / 67370303 / 67370336 |
|
Fax No.: |
91-22-67370304 / 67370303 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Daulet Abad, |
|
Tel. No.: |
91-260-2220043/ 2221043/ 44 |
|
Fax No.: |
91-260-2221410 |
|
E-Mail : |
|
|
Area : |
10000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 26.09.2012
|
Name : |
Khursheed Cyrus Aga |
|
Designation : |
Director |
|
Address : |
51, Sommerset House, Off. Warden Road,
Mumbai – 400026, |
|
Date of Birth/Age : |
21.03.1982 |
|
Date of Appointment : |
20.02.2004 |
|
DIN No.: |
00283874 |
|
|
|
|
Name : |
Cyrus Hoshang Aga |
|
Designation : |
Director |
|
Address : |
51, Sommerset House, Off. Warden Road,
Mumbai – 400026, |
|
Date of Birth/Age : |
24.11.1955 |
|
Date of Appointment : |
29.08.1997 |
|
DIN No.: |
00284019 |
|
|
|
|
Name : |
Dieter Hermann Raschke |
|
Designation : |
Director |
|
Address : |
Olmuhlweg 15 B, Konigstein, Germany, Foreign 61462 |
|
Date of Birth/Age : |
06.08.1953 |
|
Date of Appointment : |
29.05.2006 |
|
DIN No.: |
01860255 |
|
|
|
|
Name : |
Detlev Remigius Bartels Kromrey |
|
Designation : |
Director |
|
Address : |
51, Routede Mondorf, Residence Primer Berg, Appartment 7, L – 5552, Remich
Luxemburg Foreign |
|
Date of Birth/Age : |
18.02.1955 |
|
Date of Appointment : |
25.09.2012 |
|
DIN No.: |
02101021 |
|
|
|
|
Name : |
Mr. Michael Ralph Lorig |
|
Designation : |
Director |
|
Address : |
Munchen Guntherstr, Germany, Foreign 21 |
|
Date of Birth/Age : |
25.02.1968 |
|
Date of Appointment : |
21.09.2010 |
|
DIN No.: |
02845664 |
|
|
|
|
Name : |
Darius Cyrus Aga |
|
Designation : |
Director |
|
Address : |
51, Sommerset House, Off. Warden Road,
Mumbai – 400026, |
|
Date of Birth/Age : |
29.09.1985 |
|
Date of Appointment : |
01.07.2012 |
|
DIN No.: |
05331383 |
|
|
|
|
Name : |
Urvaksh Cyrus Aga |
|
Designation : |
Alternate director |
|
Address : |
51, Sommerset House, Off. Warden Road,
Mumbai – 400026, |
|
Date of Birth/Age : |
21.03.1980 |
|
Date of Appointment : |
29.03.2007 |
|
DIN No.: |
00283926 |
|
|
|
|
Name : |
Pilloo Cyrus Aga |
|
Designation : |
Alternate director |
|
Address : |
51, Sommerset House, Off. Warden Road,
Mumbai – 400026, |
|
Date of Birth/Age : |
16.09.1955 |
|
Date of Appointment : |
01.07.2012 |
|
DIN No.: |
00284093 |
|
|
|
|
Name : |
Nadine Dietmar Jost |
|
Designation : |
Director |
|
Address : |
Robert – Schuman – Ailee 71, Trier, Germany, Foreign 54296 |
|
Date of Birth/Age : |
16.02.1981 |
|
Date of Appointment : |
01.07.2012 |
|
|
|
|
Name : |
Ralf Sebastian Bickel |
|
Designation : |
Director |
|
Address : |
Rubengarten 23 Beckingen Germany Foreign 66701 |
|
Date of Birth/Age : |
17.04.1964 |
|
Date of Appointment : |
01.07.2012 |
KEY EXECUTIVES
|
Name : |
Mr. Samuel |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Cyrus Houshang Aga |
|
9847 |
|
Pilloo Cyrus Aga |
|
10 |
|
Cyrus Houshang Aga Pilloo Cyrus Aga Urvaksh Cyrus Aga |
|
124990 |
|
Pilloo Cyrus Aga Cyrus Houshang Aga Khursheed Cyrus Aga |
|
113873 |
|
Urvaksh Cyrus Aga Cyrus Houshang Aga Pilloo Cyrus Aga |
|
44064 |
|
Khursheed Cyrus Aga Cyrus Houshang Aga Pilloo Cyrus Aga |
|
22032 |
|
Darius Cyrus Aga Cyrus Houshang Aga Pilloo Cyrus Aga |
|
44064 |
|
Cyrus Houshang Aga Pilloo Cyrus Aga |
|
544724 |
|
Pilloo Cyrus Aga Cyrus Houshang Aga |
|
144831 |
|
Pilloo Cyrus Aga Cyrus Houshang Aga Urvaksh Cyrus Aga |
|
124511 |
|
Pilloo Cyrus Aga Cyrus Houshang Aga Darius Cyrus Aga |
|
21185 |
|
Cyrus Houshang Aga Urvaksh Cyrus Aga Pilloo Cyrus Aga |
|
188295 |
|
Cyrus Houshang Aga Khursheed Cyrus Aga Pilloo Cyrus Aga |
|
188295 |
|
Cyrus Houshang Aga Darius Cyrus Aga Pilloo Cyrus Aga |
|
188295 |
|
Jal Edil Katrak Maharukh Edil Katrak |
|
48725 |
|
Edil Jal Katrak |
|
10591 |
|
Maharukh Edil Katrak Edil Jal Katrak |
|
12710 |
|
SaarGummi Technologies |
|
1357316 |
|
Total
|
|
3188358 |
Allottees as on 16.11.2012
|
Names of Allottees |
|
No. of Shares |
|
SaarGummi Technologies S.a.r.l., Luxembourg |
|
221739 |
|
Cyrus H. Aga |
|
213043 |
|
Total |
|
434782 |
Allottees as on 10.05.2013
|
Names of Allottees |
|
No. of Shares |
|
CQLT SaarGummi Technologies S.a.r.l., Luxembourg |
|
510000 |
|
Vanseti Investments Holdings Private Limited, India |
|
371188 |
|
Cyrus H. Aga |
|
118812 |
|
Total |
|
1000000 |
As on 26.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
51.07 |
|
Directors or relatives of Directors |
48.93 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Motor Vehicles Parts and Accessories. |
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Products : |
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Exports : |
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||||
|
Products : |
Motor Vehicles Parts and Accessories |
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|
Countries : |
· Eqypt South Africa UK Germany Kenya |
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Imports : |
|
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|
Products : |
Raw Material |
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|
Countries : |
· Spain Germany |
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|
Terms : |
|
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|
Selling : |
Cash |
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|
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|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON: 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Extrusion |
Mtrs |
16200000 |
16200000 |
|
Particulars |
Unit |
Actual
Production |
|
Windshield |
Mtrs |
7730024 |
|
Flock Channel |
Mtrs |
889072 |
|
Bi Component |
Mtrs |
6844623 |
GENERAL INFORMATION
|
Suppliers : |
Tridend Rubber India Private Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
End Users · Bajaj Auto Eicher Motors Limited Force Motors Limited General Motors Limited Larsen and Turbo Limited Mahindra and Mahindra Limited – Automotive division Man Force Trucks Private Limited Samsonite Industries Limited Swaraj Mazda Limited TATA Motors V.I.P Visteon |
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|
|
|
||||||||||||||||||
|
No. of Employees : |
600 (Approximately) |
||||||||||||||||||
|
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|
||||||||||||||||||
|
Bankers : |
· Bank of India Ghatkopar (East) Branch, Kiran Niketan, Tilak Road, Ghatkopar (East), Mumbai - 400077, Maharashtra, India The Zoroastrian Co-Operative
Bank Limited, Thane Branch, Nargis, Ground Floor, Eduljee Road, Charai, Thane
- 400601, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Cash Credit / Term Loan – Rs. 90.000 Millions
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloittr Haskin and Sells Chartered Accountant |
|
Address : |
Heritage, 3rd Floor, Near |
|
Tel. No.: |
91-79-27582542 / 27582543 |
|
Fax No.: |
91-79-27582551 |
|
PAN.: |
AABFD7919A |
|
|
|
|
Holding Company : |
SG Technologies S.A.R.L., |
|
|
|
|
Ultimate Holding Company: |
Chongqing Light Industry and Textile Holdings (Group) Company Limited |
|
|
|
|
Company in which KMP / Relaves of KMP can exercise significant
influence: |
·
Goldseal Engineering Products Private Limited ·
Permaseal Auto Products Private Limited ·
Goldseal Avon Polymers Private Limited ·
Aqa Holdings and Agencies Private Limited ·
Vanseti Investments and Holdings Private Limited ·
SG International GmbH |
CAPITAL STRUCTURE
After 26.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000 |
Equity Shares |
Rs.10/- each |
Rs. 47.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4623140 |
Equity Shares |
Rs.10/- each |
Rs. 46.231 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3700000 |
Equity Shares |
Rs.10/- each |
Rs. 37.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3188358 |
Equity Shares |
Rs.10/- each |
Rs. 31.884 Millions |
|
|
|
|
|
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 |
|
31.884 |
31.884 |
|
(b) Reserves & Surplus |
|
22.163 |
22.059 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
54.047 |
53.943 |
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) Long-term borrowings |
|
6.539 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
10.006 |
9.136 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.892 |
0.955 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
110.149 |
97.405 |
|
(b) Trade payables |
|
83.319 |
48.267 |
|
(c) Other current
liabilities |
|
11.656 |
16.907 |
|
(d) Short-term provisions |
|
2.282 |
1.659 |
|
|
|
207.406 |
164.238 |
|
TOTAL |
|
278.890 |
228.272 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
90.087 |
78.113 |
|
(ii) Intangible Assets |
|
0.631 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.715 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.100 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
5.286 |
5.286 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
27.417 |
14.346 |
|
(c) Trade receivables |
|
112.777 |
102.743 |
|
(d) Cash and cash
equivalents |
|
3.056 |
2.791 |
|
(e) Short-term loans and
advances |
|
38.804 |
24.976 |
|
(f) Other current assets |
|
0.017 |
0.017 |
|
|
|
182.071 |
144.873 |
|
TOTAL |
|
278.890 |
228.272 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
31.883 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
24.795 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
56.678 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
77.792 |
|
|
TOTAL BORROWING |
|
|
77.792 |
|
|
DEFERRED TAX LIABILITIES |
|
|
8.866 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
143.336 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
71.999 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
22.635
|
|
|
Sundry Debtors |
|
|
72.698
|
|
|
Cash & Bank Balances |
|
|
1.818
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
20.523
|
|
Total
Current Assets |
|
|
117.674
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
40.083
|
|
|
Other Current Liabilities |
|
|
0.931
|
|
|
Provisions |
|
|
5.323
|
|
Total
Current Liabilities |
|
|
46.337
|
|
|
Net Current Assets |
|
|
71.337
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
143.336 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
638.601 |
443.863 |
343.043 |
|
|
|
Other Income |
0.037 |
0.213 |
1.843 |
|
|
|
TOTAL (A) |
638.638 |
444.076 |
344.886 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
477.809 |
|
|
|
|
|
Employee Benefits Expenses |
43.148 |
29.204 |
|
|
|
|
Other Expenses |
96.041 |
74.942 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(6.639) |
3.089 |
|
|
|
|
TOTAL (B) |
610.359 |
414.030 |
305.223 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
28.279 |
30.046 |
39.663 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.678 |
8.688 |
8.561 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.601 |
21.358 |
31.102 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.081 |
7.534 |
6.409 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
6.520 |
13.824 |
24.693 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.685 |
5.370 |
9.753 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
3.835 |
8.454 |
14.940 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
11.391 |
14.977 |
12.808 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
3.188 |
9.565 |
7.652 |
|
|
|
Tax on Dividend |
0.542 |
1.625 |
1.301 |
|
|
|
Proposed Dividend |
0.000 |
0.000 |
1.913 |
|
|
|
Tax on Proposed Dividend |
0.000 |
0.000 |
0.325 |
|
|
|
Transferred to General Reserve |
0.290 |
0.850 |
1.580 |
|
|
BALANCE CARRIED
TO THE B/S |
11.206 |
11.391 |
14.977 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB basin |
15.451 |
13.386 |
20.891 |
|
|
TOTAL EARNINGS |
15.451 |
13.386 |
20.891 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
10.586 |
11.634 |
9.532 |
|
|
|
Components and Spares |
0.051 |
0.159 |
7.226 |
|
|
|
Capital Goods |
4.056 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
14.693 |
11.793 |
16.758 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.20 |
2.65 |
4.69 |
|
|
Particulars |
|
|
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
640.000 |
|
|
|
|
|
Expected Sales (2013-2014) : Rs. 720.000 millions
The above information has been parted by Mr. Samuel (Account Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.60
|
1.90 |
4.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.02
|
3.11 |
7.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.34
|
6.06 |
10.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.26 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.16
|
1.81 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88
|
0.88 |
2.54 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Trade Payable |
|
|
|
|
Other than Acceptance |
83.319 |
48.267 |
40.083
|
|
|
|
|
|
|
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 |
Yes |
|
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
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CORPORATE INFORMATION
Subject was incorporated in the year 1997. The Company has-entered into a Joint venture with SAARGUMMI Technologies (Germany). GSSG manufactures of EPDM Rubber Weather Strip application for Vehicles manufactures, Industrial and AfterMarket. GSSG has manufacturing operation at Daman and Mumbai.
GSSG supplies to Indian Original Equipment Manufacturer customers like Volkswagen, General Motors, Mahindra and Mahindra, Bajaj Auto, Tata Motors, Man Force, Force Motors etc.
VW TOOLING INVOICES
During the year the Company had received 2
P.O.'s from VW for supply of VW Tools and
capacity increase for meeting VW production volumes.
The Management believe that since the company
had completed most of the work in 2011-12 underthe 2 P.O.'s and had received a
substantial payment from VW against the 2 P.O.'s, the revenue can be recognized in 2011-12.
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Short Term Borrowings |
|
|
|
Loans and advances from related parties |
79.977 |
89.365 |
|
Total |
79.977 |
89.365 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25209MH1997PTC110354 |
|
Name of the
company |
GOLDSEAL-SAARGUMMI
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Goldseal House, Village Road, Bhandup, Mumbai – 400078, Maharashtra,
India E-mail: sales@goldseal.in |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10295202 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
The Zoroastrian Co-Operative Bank Limited, Thane Branch, Nargis,
Ground Floor, Eduljee Road, Charai, Thane - 400601, Maharashtra, India E-mail: sshinde@zcbl.in |
|
Nature of
instrument creating charge |
Supplemental deed
of hypohecation dated 24th july 2012 to the agreement of
hypothection dated 14th june 2011. |
|
Date of
instrument Creating the charge |
24.07.2012 |
|
Amount secured by
the charge |
Rs. 3.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate 2% below mlr minimum 12% p.a with monthly rests for value received. Terms of Repayment As per agreement Margin As per agreement Extent and Operation of the charge As per agreement |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All those movable
proeperties specified in the principal deed of hypothecation / pledge. |
|
Date of
instrument modifying the charge |
13.09.2011 |
|
Particulars of
the present modification |
The company has
increase cash credit limit from Rs.32.500 millions to Rs.35.500 millions |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
Guarantee given to Electric Board Daman |
1.000 |
1.000 |
|
Excise duty/ Service Tax matters |
0.000 |
1.739 |
FIXED ASSETS
ô
Tangible
Assets
Building
Plant
and Equipment
Electrical
Installation
Dies
and Moulds
Date
Processing Equipments
Furniture
and Fixtures
Vehicles
Office
Equipment
ô
Intangible Assets
Computer
Software
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.58.74 |
|
|
1 |
Rs.91.99 |
|
Euro |
1 |
Rs.78.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
|
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.