MIRA INFORM REPORT
|
Report Date : |
26.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANATAN AUTOPLAST PRIVATE LIMITED |
|
|
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Registered
Office : |
R-41, Ground Floor, Khirki Extention, Malviya Nagar, New Delhi-110017,
Delhi |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
20.06.2007 |
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Com. Reg. No.: |
55-164951 |
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Capital
Investment / Paid-up Capital : |
Rs.5.150 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209DL2007PTC164951 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKS11924D |
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PAN No.: [Permanent Account No.] |
AALCS1036Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of Air Conditioner Parts and Automobile
Parts. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 86000 |
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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 satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
R-41, Ground Floor, Khirki Extention, Malviya Nagar, New Delhi-110017,
Delhi |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9811882288 (Mr. Anil Kukreja) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory : |
Plot No.61/8, Industrial Area, N I T |
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Tel. No.: |
91-129-4025750/ 4024751 |
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Fax No.: |
91-129-2232516/ 4025831 |
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E-Mail : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Anil Kukreja |
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Designation : |
Director |
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Address : |
2M/24, Bpnit, Faridabad-121006, Haryana, India |
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Date of Birth/Age : |
12.08.1981 |
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Date of Appointment : |
20.06.2007 |
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DIN No : |
02165050 |
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Other Directorship :
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Name : |
Mr. Laxman Dass Kukreja |
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Designation : |
Director |
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Address : |
2M/24, Bpnit, Faridabad-121006, Haryana, India |
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Date of Birth/Age : |
13.05.1952 |
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Date of Appointment : |
20.06.2007 |
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DIN No : |
02171088 |
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Other Directorship :
|
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MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Anil Kukreja |
|
7576 |
|
Laxman Das Kukreja |
|
462121 |
|
Draupadi Devi |
|
30303 |
|
Jethanand Kalra |
|
6000 |
|
Ram Saran Gupta |
|
4500 |
|
Sudha Gupta |
|
4500 |
|
Total |
|
515000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
97.09 |
|
Other top fifty shareholders |
2.91 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Air Conditioner Parts and Automobile
Parts. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Bank of India, Faridabad SME Branch, 14/4, Mathura Road, Faridabad-121003, Haryana, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Rajan Chhabra and Company Chartered Accountants |
|
Address : |
32A, Sector-11E, Faridabad-121006, Haryana, India |
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Tel. No.: |
91-129-2224557/ 4008089 |
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Mobile No.: |
91-9811058089 |
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E-Mail : |
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PAN No.: |
ADEPC6909K |
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Associates/Subsidiaries : |
Parasabha Construction Private Limited CIN No.: U45201DL2006PTC145252 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
515000 |
Equity Shares |
Rs.10/- each |
Rs.5.150
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 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.150 |
5.000 |
3.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16.543 |
10.210 |
6.815 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
21.693 |
15.210 |
10.115 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.236 |
4.933 |
11.387 |
|
|
2] Unsecured Loans |
13.556 |
14.154 |
3.167 |
|
|
TOTAL BORROWING |
18.792 |
19.087 |
14.554 |
|
|
DEFERRED TAX LIABILITIES |
1.903 |
1.225 |
0.783 |
|
|
|
|
|
|
|
|
TOTAL |
42.388 |
35.522 |
25.452 |
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|
|
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|
APPLICATION OF FUNDS |
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|
|
|
|
|
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FIXED ASSETS [Net Block] |
34.622 |
25.207 |
21.083 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
INVESTMENT |
0.249 |
0.249 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.056
|
5.902 |
3.218
|
|
|
Sundry Debtors |
36.614
|
29.251 |
20.894
|
|
|
Cash & Bank Balances |
0.308
|
0.929 |
1.158
|
|
|
Other Current Assets |
1.708
|
3.314 |
1.796
|
|
|
Loans & Advances |
3.159
|
1.160 |
2.564
|
|
Total
Current Assets |
48.845
|
40.556 |
29.630 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.588
|
17.247 |
20.169
|
|
|
Other Current Liabilities |
12.792
|
10.911 |
4.215
|
|
|
Provisions |
1.948
|
2.332 |
0.892
|
|
Total
Current Liabilities |
41.328
|
30.490 |
25.276 |
|
|
Net Current Assets |
7.517
|
10.066 |
4.354
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.015 |
|
|
|
|
|
|
|
|
TOTAL |
42.388 |
35.522 |
25.452 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
153.293 |
147.056 |
92.816 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
153.293 |
147.056 |
92.816 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
146.082 |
139.667 |
88.131 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
146.082 |
139.667 |
88.131 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
7.211 |
7.389 |
4.685 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.228 |
2.293 |
1.519 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.983 |
5.096 |
3.166 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.68 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.25
|
3.47 |
3.41
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.64
|
11.24 |
9.24
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.49 |
0.46
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.87
|
1.25 |
4.02
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.33 |
1.17
|
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 three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
NOTE:
Registered Office of the company has been shifted from 11/57, Geeta
Colony, New Delhi – 110031, India to the present address w.e.f.05.02.2009.
OPERATIONS AND FUTURE
PROSPECTS
Due to various steps taken by the Board, the company has made the net profit of Rs.7.211 Millions during the financial year ended 31st March, 2012 as compared to net profit of Rs. 7.389 Millions during the financial year ended 31st March, 2011. It is expected that the performance of the company will improve in future.
UNSECURED LOAN:
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Anil Kukreja |
0.165 |
0.146 |
|
Sudha Gupta |
0.000 |
0.462 |
|
R.S.Gupta |
0.000 |
0.449 |
|
Jai Parash Trading (P) Limited |
11.834 |
10.426 |
|
Laxman Kukreja |
1.557 |
2.671 |
|
Total |
13.556 |
14.154 |
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U25209DL2007PTC164951 |
|
Name of the
company |
SANATAN AUTOPLAST
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
R-41, Ground Floor, Khirki Extn, Malviya Nagar, New Delhi – 110017, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
Bank of India, Faridabad SME Branch, 14/4, Mathura Road, Faridabad-121003, Haryana, India |
|
Nature of
instrument creating charge |
As Per The
Agreement of Hypothecation for Consumer Loan in respect of vehicles agreement
dated 27.12.2012 |
|
Date of
instrument Creating the charge |
27.12.2012 |
|
Amount secured by
the charge |
Rs.2.100 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 0.45% over Base
Rate i.e.10.95% p.a Terms of Repayment 60 Monthly
equated installments of Rs.45607/- commencing from 31.01.2013 Margin 25% Extent and Operation of the charge As Per The
Agreement of Hypothecation for Consumer Loan in respect of vehicles agreement
dated 27.12.2012 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The Above
Facility has been secured by way of hypothecation of new vehicle acquired. |
FIXED ASSETS:
- Air
Conditioner
- Cooler
- Cooling Tower
- Computers
- Car
- Crane
- Car Omnt
- Cycle
- Electrical
Fittings
- Fire
Equipments
- Furniture and
Fixtures
- Fax Machine
- Fan
- Generator
- Lift
- Moulds and
Dies
- Office
Equipments
- Plant and
Machinery
- Scooter
- Transformers
- Water Cooler
- Weighting
Machine
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.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
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 |
NO |
|
--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.