MIRA INFORM REPORT

 

 

Report Date :

23.09.2013

 

IDENTIFICATION DETAILS

 

Name :

SHRI SAI KIRPA THERMOFORMING PRIVATE LIMITED

 

 

Registered Office :

Balkalan Road, Pandori Waraich, Majitha Road, Amritsar – 143001, Punjab

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

03.04.2009

 

 

Com. Reg. No.:

16-032733

 

 

Capital Investment / Paid-up Capital :

Rs.4.000 Millions

 

 

CIN No.:

[Company Identification No.]

U25199PB2009PTC032733

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AMRS16959F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Disposable Glasses and Cups, Disposable Kitchenware, P P Cups and Glasses. 

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 17000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having a moderate track record. The company has recorded modest scale of business operation. The external borrowing seems to be huge.

 

However, trade relations are reported to be fair. Business is active. Payments are reported to be slow.

 

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 – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

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 Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

 

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

 

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 India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

 

 

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 (GENERAL DETAILS)

 

Name :

Mr. Sandeep Khosla

Designation :

Whole-time director

Contact No.:

91-9814005428

Date :

02.07.2012

 

 

LOCATIONS

 

Registered Office  / Factory :

Balkalan Road, Pandori Waraich, Majitha Road, Amritsar – 143001, Punjab, India

Tel. No.:

91-183-6530653

Mobile No.:

91-9814005428 (Mr. Sandeep Khosla)

Fax No.:

Not Available

E-Mail :

caamritsar@gmail.com

Location :

Owned  

 

 

DIRECTORS

 

As on: 22.07.2013

 

Name :

Mr. Joyti Parkash

Designation :

Whole-time director

Address :

4825/18, Guru Arjun Dev Nagar, Putlighar, Amritsar, Punjab, India

Date of Birth/Age :

27.11.1967

Date of Appointment :

03.04.2009

DIN No.:

02574647

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U25199PB2009PTC032733

SHRI SAI KIRPA THERMOFORMING PRIVATE LIMITED

Whole-time director

03/04/2009

03/04/2009

-

Active

NO

2

U25190PB2012PTC036005

SSDN PLASTIC PRODUCTS PRIVATE LIMITED

Whole-time director

01/03/2012

01/03/2012

-

Active

NO

 

 

Name :

Mr. Sandeep Khosla

Designation :

Whole-time director

Address :

House No – 1569, Tirath Shah Bhatia Road, Inside Sultanwind Gate, Amritsar, Punjab, India

Date of Birth/Age :

29.03.1970

Date of Appointment :

03.04.2009

DIN No.:

00897916

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U25199PB1990PTC010453

R A RUBBERS PRIVATE LIMITED

Director

09/06/1990

09/06/1990

25/10/2007

Active

NO

2

U25199PB1999PTC023182

KHOSLA RUBBERS PRIVATE LIMITED

Director

01/10/2007

01/10/2007

-

Active

NO

3

U25199PB2009PTC032733

SHRI SAI KIRPA THERMOFORMING PRIVATE LIMITED

Whole-time director

03/04/2009

03/04/2009

-

Active

NO

4

U25190PB2012PTC036005

SSDN PLASTIC PRODUCTS PRIVATE LIMITED

Whole-time director

01/03/2012

01/03/2012

-

Active

NO

 

 

Name :

Mr. Jatinder Sharma

Designation :

Whole-time director

Address :

4829 – B, Guru Arjun Dev  Nagar, Putlighar, Amritsar, Punjab, India

Date of Appointment :

03.04.2009

DIN No.:

02570149

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U25199PB2009PTC032733

SHRI SAI KIRPA THERMOFORMING PRIVATE LIMITED

Whole-time director

03/04/2009

03/04/2009

-

Active

NO

2

U25190PB2012PTC036005

SSDN PLASTIC PRODUCTS PRIVATE LIMITED

Whole-time director

01/03/2012

01/03/2012

-

Active

NO

 

 

Name :

Mr. Rajinder Kumar

Designation :

Whole-time director

Address :

38-Podar Colony, Guru Arjun  Dev Nagar, Putlighar, Amritsar, Punjab, India

Date of Birth/Age :

02.06.1968

Date of Appointment :

03.04.2009

DIN No.:

02571602

 

 

Name :

Mr. Sandeep Sharma

Designation :

Whole-time director

Address :

38 – Podar Colony, Guru Arjun Dev Nagar, Putlighar, Amritsar, Punjab, India

Date of Appointment :

03.04.2009

DIN No.:

02570123

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U25199PB2009PTC032733

SHRI SAI KIRPA THERMOFORMING PRIVATE LIMITED

Whole-time director

03/04/2009

03/04/2009

-

Active

NO

2

U25190PB2012PTC036005

SSDN PLASTIC PRODUCTS PRIVATE LIMITED

Whole-time director

01/03/2012

01/03/2012

-

Active

NO

 

 

Name :

Mr. Sanjeev Kumar Sharma

Designation :

Whole-time director

Address :

4829-B, Guru Arjun  Dev  Nagar, Putlighar, Amritsar, Punjab, India

Date of Appointment :

03.04.2009

DIN No.:

02567533

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U25199PB2009PTC032733

SHRI SAI KIRPA THERMOFORMING PRIVATE LIMITED

Whole-time director

03/04/2009

03/04/2009

-

Active

NO

2

U25190PB2012PTC036005

SSDN PLASTIC PRODUCTS PRIVATE LIMITED

Whole-time director

01/03/2012

01/03/2012

-

Active

NO

 

 

Name :

Mr. Kulbhushan Gupta

Designation :

Additional Director

Address :

27-A, Krishna Square-1, Amritsar – 143001, Punjab, India

Date of Birth/Age :

10.01.1952

Date of Appointment :

01.11.2011

DIN No.:

05131081

 

 

Name :

Mr. Rahul Mahajan

Designation :

Additional Director

Address :

H. No.42, Krishna Square-1, Amritsar – 143001, Punjab, India

Date of Birth/Age :

01.02.1986

Date of Appointment :

01.11.2011

DIN No.:

05131152

 

 

Name :

Mr. Gajinder Singh

Designation :

Additional Director

Address :

H. No.11, R. B. Rattan Chand marg, Ward No.44, Amritsar – 143001, Punjab, India

Date of Birth/Age :

01.03.1984

Date of Appointment :

01.11.2011

DIN No.:

05131731

 

 

KEY EXECUTIVES

 

Name :

Anjum Goyal and Associates

Designation :

Company Secretaries

Address :

4- Near Chawla Cement Store, Banke Bihari Lane, Batala Road, Amritsar, Punjab, India

 

 

MAJOR SHAREHOLDERS

 

As on: 22.07.2013

 

Names of Shareholders

 

No. of Shares

 

 

 

Sandeep Khosla

 

2600

Manjeet Singh

 

200

Jyoti Parkash

 

4200

Rajinder Kumar

 

2500

Jatinder Sharma

 

2300

Sandeep Sharma

 

2200

Sanjeev Kumar Sharma

 

2200

Bhupinder Singh

 

1000

Gajinder Singh

 

1000

Jaswinder Kaur

 

1000

Navneet Kaur

 

1000

Kewal Krishan Sharma

 

3000

Santosh Kumari

 

3000

Shashi Sharma

 

1600

Seema Khosla

 

1600

Kulbushan Gupta

 

2650

Navdeep Gupta

 

2650

Parveen Mahajan

 

1250

Rita Mahajan

 

1325

Naresh Kumar

 

1325

Narinder Kumar

 

1390

Rahul Mahajan

 

10

Total

 

40000

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 22.07.2013

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Disposable Glasses and Cups, Disposable Kitchenware, P P Cups and Glasses. 

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

  • Jay Jay Plastic Industries
  • M. K. Box Factory
  • Mahavir Pipes

 

 

Customers :

Wholesalers and Retailers

 

  • Pancy Inc.
  • Sareen Brothers
  • Sharma Trading Company

 

 

No. of Employees :

50 (Approximately)

 

 

Bankers :

Oriental Bank of Commerce, Majitha Road, Amritsar - 143001, Punjab, India

 

 

Facilities :

(Rs. In Millions)

Secured Loan

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWINGS

 

 

Term Loans: From Banks

 

 

OBC Bank Buliding Loan A/c

(Secured against Immovable and Movable assets of the Company. Total Outstanding as on 31.03.2013 Rs 899 (1194) thousand out of which Installments repayble within one year Rs. 0.144 Million

0.755

1.050

OBC Machinery Loan A/c

(Secured against Immovable and Movable assets of the Company.Total Outstanding as on 31.03.2013 Rs 604 (2232) thousand out of which Installments repayble within one year Rs 0.604 Million

0.000

0.792

OBC Machinery Loan A/c

(Secured against Immovable and Movable assets of the Company.Total Outstanding as on 31.03.2013 Rs 4330(0) thousand out of which Installments repayble within one year Rs 0.420 Million

3.910

0.000

SHORT TERM BORROWINGS

 

 

From Banks: Working Capital (Secured against Stock, Book Debts and the Movable and Immovable assets of the Company)

3.216

3.957

Total

7.881

5.799

 

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

V Wadhwa and Company

Chartered Accountants

Address :

169-A, Rani Ka Bagh, Amritsar – 143001, Punjab, India

PAN No.:

AAAFV9890R

 

 

CAPITAL STRUCTURE

 

As on: 22.07.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

40000

Equity Shares

Rs.100/- each

Rs.4.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

40000

Equity Shares

Rs.100/- each

Rs.4.000 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

4.000

4.000

4.000

(b) Reserves & Surplus

0.399

0.395

0.333

(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)

4.399

4.395

4.333

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

14.508

9.582

10.800

(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)

14.508

9.582

10.800

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3.216

3.957

4.389

(b) Trade payables

0.816

0.179

1.170

(c) Other current liabilities

3.207

3.515

1.618

(d) Short-term provisions

0.033

0.017

0.006

Total Current Liabilities (4)

7.272

7.668

7.183

 

 

 

 

TOTAL

26.179

21.645

22.316

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

16.736

12.066

13.699

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.083

0.069

0.080

(d)  Long-term Loan and Advances

1.108

2.492

0.792

(e) Other Non-current assets

0.007

0.015

0.022

Total Non-Current Assets

17.934

14.642

14.593

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

5.862

5.239

6.827

(c) Trade receivables

1.001

1.395

0.523

(d) Cash and cash equivalents

0.120

0.299

0.193

(e) Short-term loans and advances

1.262

0.070

0.180

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

8.245

7.003

7.723

 

 

 

 

TOTAL

26.179

21.645

22.316


 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

31.905

20.689

18.548

 

 

Other Income

 

 

 

 

 

TOTAL                                    

31.905

20.689

18.548

 

 

 

 

 

Less

EXPENSES

 

 

 

Office Expenses

29.849

18.938

16.578

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                    

29.849

18.938

16.578

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

2.056

1.751

1.970

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION        

2.036

1.672

1.951

 

 

 

 

 

 

PROFIT BEFORE TAX

0.020

0.079

0.019

 

 

 

 

 

Less

TAX                                                                 

0.016

0.017

0.006

 

 

 

 

 

 

PROFIT AFTER TAX

0.004

0.062

0.013

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.10

1.55

0.33

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

PAT / Total Income

(%)

0.01

0.30

0.07

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.08

0.37

0.09

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.00

0.02

0.00

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

4.03

3.08

3.51

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.13

0.91

1.08

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

----------------------

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

No

17]

Major suppliers

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

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

 

 

UNSECURED LOAN:

(Rs. in Millions)

Particulars

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWINGS

 

 

From Related parties

 

 

Annie Sharma

0.007

0.111

Jyoti Sharma

0.270

0.244

Rajinder Kumar

0.409

0.126

Rajinder Kumar HUF

0.110

0.100

Sandeep Kumar

0.323

0.049

Sanjeev Kumar HUF

0.110

0.100

Jyoti Parkash Khurana

0.573

0.298

Pushpa Khurana

0.211

0.211

Bhupinder Singh Huf

0.307

0.277

Gajinder Singh

0.767

0.475

Gajinder Singh Huf

0.061

0.055

Jasleen Kaur

0.000

0.075

Manjit Singh

0.017

0.015

Satwant Kaur

0.061

0.055

Sandeep Khosla

0.346

0.785

Sandeep Khosla HUF

0.534

0.482

Seema Khosla

0.297

0.268

Jatinder Kumar

0.355

0.078

Kulbhushan Gupta

1.220

1.220

Meenakshi Sharma

0.246

0.222

Kawaljit Kaur

0.061

0.055

Naresh Kumar

0.083

0.075

Narinder Kumar

0.074

0.066

Vandana Sharma

0.737

0.665

Parveen Mahajan

0.368

0.332

Renu Khurana

0.430

0.388

Rita Mahajan

0.368

0.332

Sanjeev Kumar Sharma

0.729

0.415

Shashi Sharma

0.184

0.166

Navdeep Gupta

0.227

0.000

Rahul Mahajan

0.242