MIRA INFORM REPORT
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Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
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Name : |
SHREE RADHE HYGIENE PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Gat No. 249/ 2A,
Chakan - Talegaon Road, Kharabwadi, Khed, Pune – 410501, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
24.08.2011 |
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Com. Reg. No.: |
25-140565 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.800 Million |
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CIN No.: [Company Identification
No.] |
U24240PN2011PTC140565 |
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IEC No.: |
3111017711 |
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PAN No.: [Permanent Account No.] |
AAQCS3685Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and
Exporter of High Class Sanitary Napkins, Baby Diapers, Adult Diapers and
Underpads, etc. |
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No. of Employees
: |
580 (Approximately) (70 in Office, 500 in Factory, 10 in Branch) |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 82400 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company having a moderate track record. In its first year the company has recorded small scale of operation
and achieved minimal profit. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution. |
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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 |
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. Jitendra Goel |
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Designation : |
Chief Executive Officer |
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Contact No.: |
91-9970034343 |
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Date : |
16.05.2013 |
LOCATIONS
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Registered Office/ Factory 1 : |
Gat No. 249/ 2A,
Chakan – Talegaon Road, Kharabwadi, Khed, Pune – 410501, Maharashtra, India |
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Tel. No.: |
91-2135-610601-02/ 05 |
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Mobile No.: |
91-9970034343/ 9762815815 [Mr. Jitendra Goel] |
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Fax No.: |
91-20-27640303 |
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E-Mail : |
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Website : |
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Area : |
30000 Sq. ft |
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Location : |
Owned |
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Factory 2 : |
Gat No.250/1, Chakan Talegaon Road, Chakan, Pune – 410501,
Maharashtra, India |
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Fax No.: |
91-20-27640303 |
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Area : |
8000 Sq. ft |
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Location : |
Rented |
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Factory 3 : |
Plot No. 5, Gat No. 357/95, Wagjainagar, Chakan, Pune –
410501, Maharashtra, India |
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Branch Office : |
Sector 26/14, Siddhovinayak Prastha, Nigdi, Pune – 411044, Maharashtra, India |
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Tel. No.: |
91-20-27640303-4 |
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Fax No.: |
91-20-2764303 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
AS ON 26.11.2012
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Name : |
Mrs. Promila Jitendra Goel |
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Designation : |
Director |
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Address : |
Row House 14, Sector 26, Siddhivinayak Prastha, Pradhikaran,
Nigdi, Pune – 411044, Maharashtra, India |
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Date of Birth/Age : |
31.07.1961 |
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Qualification : |
B.Com |
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Experience : |
10 Years |
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Date of Appointment : |
24.08.2011 |
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DIN No.: |
03586496 |
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Name : |
Mr. Satish Rameshwardas Agarwal |
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Designation : |
Director |
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Address : |
113/4, Dataram Bhawan, Vishrantwadi, Pune – 411015,
Maharashtra, India |
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Date of Birth/Age : |
30.05.1959 |
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Qualification : |
B.Com |
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Experience : |
3 Years |
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Date of Appointment : |
24.08.2011 |
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DIN No.: |
03591612 |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra Goel |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.11.2012
|
Names of Shareholders |
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No. of Shares |
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Promila Jitendra Goel |
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162000 |
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Satish Rameshwardas Agarwal |
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88000 |
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Total |
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250000 |
AS ON 21.01.2013
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Names of Allottees |
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No. of Shares |
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Promila Jitendra Goel |
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187500 |
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Satish Rameshwardas Agarwal |
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62500 |
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Total |
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250000 |
AS ON 26.11.2012
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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 |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of High Class Sanitary Napkins, Baby Diapers, Adult Diapers and
Underpads, etc. |
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Exports : |
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Products : |
Ø Sanitary Napkins Ø Baby Diapers Ø Adult Diapers Ø Underpads, etc. |
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Countries : |
v Middle East v Africa v Nepal v Sri Lanka v Australia v Maldives etc. |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Ø China Ø USA |
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Terms : |
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Selling : |
L/C and Cash |
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Purchasing : |
Credit [30 Days] |
GENERAL INFORMATION
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Customers : |
Wholesalers and OEM’s |
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No. of Employees : |
580 (Approximately) (70 in Office, 500 in Factory, 10 in Branch) |
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Bankers : |
Ø Axis Bank
Limited, Pune, Maharashtra, India Ø Small Industries
Development Bank of India, Jeevan Shree Building, Ground Floor, S. No. 1109,
Plot No. 488, University Road, Shivajinagar, Pune - 411016, Maharashtra,
India |
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Facilities : |
Credit – Rs. 10.000 Millions [Axis Bank Limited]
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah Baldota and Company Chartered Accountants |
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Address : |
926, Synagague Street, 101, Sagar Apartment, Pune – 411001,
Maharashtra, India |
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Tel. No.: |
91-20-26134610 |
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Mobile No.: |
91-9822271222 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AASFS1295D |
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Sister Concern : |
Ø Actifit Hygiene
Concepts Address: Sector 26,
Bunglow No. 14, Siddhivinayak Prastha, Nigdi, Pune – 411044, Maharashtra,
India |
CAPITAL STRUCTURE
AFTER 26.11.2012
Authorised Capital : Rs. 6.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 6.000
Millions
AS ON 26.11.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
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AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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80,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.800 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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|
31.03.2012 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.800 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.024 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.824 |
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LOAN FUNDS |
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1] Secured Loans |
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3.916 |
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2] Unsecured Loans |
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10.492 |
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TOTAL BORROWING |
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14.408 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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15.232 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.203 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERRED TAX ASSETS |
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|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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8.455 |
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Sundry Debtors |
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|
1.971 |
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Cash & Bank Balances |
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|
0.571 |
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Other Current Assets |
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|
1.528 |
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Loans & Advances |
|
|
0.380 |
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Total
Current Assets |
|
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12.905 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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1.543 |
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Other Current Liabilities |
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|
0.268 |
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Provisions |
|
|
0.065 |
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Total
Current Liabilities |
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1.876 |
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Net Current Assets |
|
|
11.029 |
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MISCELLANEOUS EXPENSES |
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|
0.000 |
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TOTAL |
|
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15.232 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
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SALES |
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Income |
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Other Income |
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TOTAL |
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8.159 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
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7.657 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.502 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.467 |
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PROFIT BEFORE
TAX |
|
|
0.035 |
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Less |
TAX |
|
|
0.011 |
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PROFIT AFTER TAX
|
|
|
0.024 |
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Earnings Per
Share (Rs.) |
|
|
0.30 |
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Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
135.160 |
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|
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Expected Sales (2013-2014): Rs. 650.000 Millions
The above information has been parted by Mr. Jitendra Goel (Chief
Executive Officer)
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
0.29 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.20 |
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Return on Investment (ROI) (PBT/Networth) |
|
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|
0.04 |
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Debt Equity Ratio (Total Debt/Networth) |
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|
17.49 |
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Current Ratio (Current Asset/Current Liability) |
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|
|
6.88 |
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 |
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
two years |
Yes |
|
12] |
Profitability for last
one year |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
|
|
(Rs. In Millions) |
|
From Other Parties |
3.160 |
|
Loans and Advance from Related Parties |
4.962 |
|
Deposits |
2.370 |
|
Total |
10.492 |
|
Note: CC from Axis Bank Rs. 3.915 Millions is secured against a Floating
Charge on Stock and Debtors. |
|
Note:
The registered office of the company has been shifted from Bunglow
No. 14, Siddhivinayak Prastha, Sector 26, Pradhikaran, Nigdi, Pune – 411044,
Maharashtra, India to the present w.e.f.17.01.2012
OPERATIONS AND FUTURE PROSPECTS:
During the period ended
Company has started the business and operations the company was achieved
turnover of Rs. 8.159 Millions and Profit of Rs. 0.024 during the period. So
the Directors are hopeful to maintain its growth during the current financial
year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24240PN2011PTC140565 |
|
Name of the
company |
SHREE RADHE
HYGIENE PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No. 249/ 2A,
Chakan - Talegaon Road, Kharabwadi, Khed, Pune – 410501, Maharashtra, India Email: jitender@actifitindia.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
Small Industries Development Bank of India, Jeevan Shree Building,
Ground Floor, S. No. 1109, Plot No. 488, University Road, Shivajinagar, Pune
- 411016, Maharashtra, India Email: ajithts@sidbi.in |
|
Nature of
description of the instrument creating or modifying the charge |
1.Deed of
hypothecation dated January 16, 2013 |
|
Date of
instrument Creating the charge |
16.01.2013 |
|
Amount secured by
the charge |
Rs. 7.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 12.25% p.a. Terms of Repayment The loan Shall be
repaid by the borrower to SIDBI in 54 Monthly instalments after a moratorium
of 6 months from the date of first disbursement Margin Minimum Rs.4.125
Millions (Rs.3.500 Millions by share capital and Rs.0.625 Million by Interest
Free Unsecured Loan) Extent and Operation of the charge First charge on all
the movable properties of the Borrower pertaining to the project as described
in Letter of Intent dated January 14, 2013. |
|
Short particulars
of the property charged |
Movable
Properties of the Borrower pertaining to the project of the Borrower as prescribed
in the load agreement and situated at Gat No. 357/95, Chakan- Talegaon Road,
Kharabwadi, Khed, Pune including But not limiting
to its Movable, Plant & Machinery, Machinery spares, tools and
accessories, office equipment, computers, furniture and fixtures and all
other movable both present and future The major items
of which equipments are :1) HD-WSJ- HKY Sanitary Napkin Machine; 2) HD-CD-A
under Pad Machine; 3) 160KVA water Cooled 6k1080 TA Kg STD Accounstic Canopy
Diesel Generator; 4) Atlas Copco make Air Compressor Model OGR-Gae 15-7.5 FF
whether installed or not and whether now lying loose or in cases or which are
now lying or stored in or about or shall hereafter |
TRADE REFERENCES:
Ø Hill Lifecare
Limited, Kanangala
Ø Lemino Health Care
Limited, Hyderabad
FIXED ASSETS:
Ø Land
Ø Buildings
Ø Plant and
Machinery
Ø Furniture and
Fixture
Ø Vehicles
Ø Office Equipments
Ø Others [Computers]
Ø 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. 54.77 |
|
|
1 |
Rs. 83.31 |
|
Euro |
1 |
Rs. 70.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.