|
Report Date : |
17.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAINATH INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-75, Prince Anwar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.01.2003 |
|
|
|
|
Com. Reg. No.: |
21-185517 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.61.252
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51211WB2003PTC185517 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS9372Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Importer and Exporter of Agri Products. |
|
|
|
|
No. of Employees
: |
25 [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 618000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There
seems some dip in the profitability of the company during current year. However, networth of the company is decent. Trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. 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.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that
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. Sharad |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-7672-414901 |
|
Date : |
16.10.2013 |
LOCATIONS
|
Registered Office : |
C-75, Prince Anwar, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
2/3, Shri Ram Market, |
|
Tel No.: |
91-7672-414901 to 18 |
|
Fax No.: |
91-7672-414905 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Kamlesh Kumar Patel |
|
Designation : |
Director |
|
Address : |
Ashirwad Bhawan, Circuit, House Chowk, Satna, |
|
Date of Appointment : |
13/09/2004 |
|
DIN No.: |
00010843 |
|
|
|
|
Name : |
Ms. Sangeeta Patel |
|
Designation : |
Director |
|
Address : |
Ashirwad Bhawan, Circuit, House Chowk, Satna, |
|
Date of Appointment : |
13/01/2003 |
|
DIN No.: |
00010871 |
|
|
|
|
Name : |
Mr. Saurabh Khandelwal |
|
Designation : |
Director |
|
Address : |
Adarsh Nagar, Satna, |
|
Date of Appointment : |
13/01/2003 |
|
DIN No.: |
00017650 |
KEY EXECUTIVES
|
Name : |
Mr. Sharad |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
Kamlesh Patel |
34871 |
-- |
|
Dinesh Wadhawani |
2500 |
-- |
|
Smt. Sudha Khandelwal |
12500 |
-- |
|
Saurabh Khandelwal |
24200 |
-- |
|
Smt. Saroj Gupta |
7500 |
-- |
|
Smt. Rashmi Gupta |
5000 |
-- |
|
Brajesh Khandelwal |
26126 |
-- |
|
Rakesh Khandelwal |
1250 |
-- |
|
Rajesh Khandelwal |
1250 |
-- |
|
Ajay Khandelwal |
1250 |
-- |
|
Smt. Manju Khandelwal |
1250 |
-- |
|
Nageen Bhai u. Bhai |
3500 |
-- |
|
Harsad Bhai j. Bhai |
3500 |
-- |
|
Sangeeta Patel |
27926 |
-- |
|
Mukesh Kumar Patel |
15000 |
-- |
|
Anju Patel |
3750 |
-- |
|
Ashwin Kumar Thakkar |
1250 |
-- |
|
Dinu Bhai m. Bhai Patel |
5000 |
-- |
|
Smt. Madhu Khandelwal |
2500 |
-- |
|
Smt. Geeta Khandelwal |
3750 |
-- |
|
Sonal Khandelwal |
1575 |
-- |
|
Smt. Richa Khandelwal |
1575 |
-- |
|
|
1575 |
-- |
|
Manish Khandelwal |
1575 |
-- |
|
Vijay kumar Gupta |
1576 |
-- |
|
Ashok Khandelwal |
1575 |
-- |
|
Vikas Khandelwal |
1250 |
-- |
|
Smt. Manjula Ben Patel |
17400 |
-- |
|
Raman bhai Iswar Bhai Patel |
5000 |
-- |
|
Prateek Patel |
24276 |
-- |
|
Rishi Patel |
11000 |
-- |
|
Global technology Convergence Private Limited, |
100000 |
-- |
|
Commodities Trading International FZC, UA, Emirates |
-- |
5772900 |
|
|
|
|
|
TOTAL
|
352250 |
5772900 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
28.39 |
|
Directors
or relatives of directors |
|
66.55 |
|
Other
top fifty shareholders |
|
5.06 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Importer and Exporter of Agri Products. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
European Country ·
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
European Country ·
|
GENERAL INFORMATION
|
No. of Employees : |
25 [Approximately] |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower
Parel (West), Mumbai - 400013, ·
Axis Bank Limited, ·
Axis Bank Limited, Trishul 3rd |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M.R. Daga and Company chartered Accountants |
|
Address : |
|
|
PAN No: |
ADPPD1363H |
|
|
|
|
Subsidiaries : |
Aastra
Vyapaar Private Limited [U51909WB2007PTC113155] |
|
|
|
|
Joint Venture : |
Ras
Infraport Private Limited [U45400WB2009PTC139145] |
|
|
|
|
Other Related Parties : |
·
Steel Traders ·
G Das and Bros |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
7500000 |
Preferences Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
TOTAL
|
|
Rs.80.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
352250 |
Equity Shares |
Rs.10/- each
|
Rs.3.523
Millions |
|
5772900 |
Preferences Shares |
Rs.10/- each |
Rs.57.729
Millions |
|
|
TOTAL
|
|
Rs.61.252 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
61.252 |
61.252 |
3.523 |
|
(b) Reserves & Surplus |
93.400 |
88.119 |
77.102 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
154.652 |
149.371 |
80.625 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
87.255 |
52.422 |
37.741 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
87.255 |
52.422 |
37.741 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
225.323 |
236.561 |
201.613 |
|
(b)
Trade payables |
19.412 |
36.270 |
20.873 |
|
(c) Other
current liabilities |
1.398 |
1.169 |
0.971 |
|
(d) Short-term
provisions |
4.025 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
250.158 |
274.000 |
223.457 |
|
|
|
|
|
|
TOTAL |
492.065 |
475.793 |
341.823 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
7.167 |
7.597 |
7.865 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
129.881 |
92.947 |
12.918 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
32.547 |
22.723 |
4.081 |
|
(e) Other
Non-current assets |
0.433 |
0.444 |
0.000 |
|
Total Non-Current
Assets |
170.028 |
123.711 |
24.864 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
105.528 |
162.986 |
151.977 |
|
(c)
Trade receivables |
144.245 |
110.757 |
91.268 |
|
(d) Cash
and cash equivalents |
20.422 |
8.981 |
8.395 |
|
(e)
Short-term loans and advances |
51.842 |
69.358 |
65.319 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
322.037 |
352.082 |
316.959 |
|
|
|
|
|
|
TOTAL |
492.065 |
475.793 |
341.823 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income [Approximately] |
1940.000 |
2080.000 |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
13.835 |
16.439 |
8.057 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.528 |
5.422 |
2.509 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
9.307 |
11.017 |
5.548 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
41.742 |
30.724 |
25.176 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Preferences Dividend |
3.464 |
0.000 |
0.000 |
|
|
|
Tax on Proposed Dividend |
0.562 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
47.023 |
41.741 |
30.724 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
131.885 |
578.422 |
192.040 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.52 |
1.80 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.82
|
4.29 |
2.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.11 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.02
|
1.93 |
2.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29
|
1.28 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
|
|
|
|
|
|
Current
Maturities of Long Term Debt |
0.000 |
0.000 |
0.000 |
|
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 two 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) |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10325633 |
17/12/2011 |
247,780,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, |
B28804144 |
|
2 |
10322389 |
20/01/2012
* |
247,500,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, |
B31391733 |
|
3 |
80007602 |
30/03/2011
* |
206,000,000.00 |
AXIS
BANK LTD |
|
B13059647 |
|
* Date of charge modification |
||||||
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans and advances from directors |
2.396 |
1.922 |
|
Loans and advances from |
79.765 |
45.500 |
|
Other loans and advances |
5.094 |
5.000 |
|
TOTAL
|
87.255 |
52.422 |
FIXED ASSETS:
·
·
Plant and Machinery
·
Furniture and Fixture
·
Motor Cycle
·
Cars
·
Computer and Peripherals
·
Office Equipment
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.61.69 |
|
|
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.