|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAI COMMODITIES LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.03.2007 |
|
|
|
|
Com. Reg. No.: |
06132176 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
·
Commodities. Accounts data converted from US dollars. ·
Agents in sale of variety of goods ·
Agents involved in the sale of a variety of goods |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED KIGDOM - ECONOMIC OVERVIEW
The UK, a leading trading
power and financial center, is the third largest economy in Europe after
Germany and France. Over the past two decades, the government has greatly
reduced public ownership. Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about 60% of food needs with less
than 2% of the labor force. The UK has large coal, natural gas, and oil
resources, but its oil and natural gas reserves are declining and the UK became
a net importer of energy in 2005. Services, particularly banking, insurance,
and business services, are key drivers of British GDP growth. Manufacturing,
meanwhile, has declined in importance but still accounts for about 10% of
economic output. After emerging from recession in 1992, Britain's economy
enjoyed the longest period of expansion on record during which time growth
outpaced most of Western Europe. In 2008, however, the global financial crisis
hit the economy particularly hard, due to the importance of its financial
sector. Falling home prices, high consumer debt, and the global economic
slowdown compounded Britain's economic problems, pushing the economy into
recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate
the economy and stabilize the financial markets; these included nationalizing
parts of the banking system, temporarily cutting taxes, suspending public
sector borrowing rules, and moving forward public spending on capital projects.
Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led
coalition government (between Conservatives and Liberal Democrats) initiated a
five-year austerity program, which aimed to lower London's budget deficit from
about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of
the Exchequer George OSBORNE announced additional austerity measures through
2017 largely due to the euro-zone debt crisis. The CAMERON government raised
the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the
corporation tax rate to 21% by 2014. The Bank of England (BoE)
implemented an asset purchase program of £375 billion (approximately $605
billion) as of December 2013. During times of economic crisis, the BoE coordinates interest rate moves with the European
Central Bank, but Britain remains outside the European Economic and Monetary
Union (EMU). In 2012, weak consumer spending and subdued business investment
weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating
unexpectedly in the second half of the year because of greater consumer
spending and a recovering housing market. The budget deficit is falling but
remains high at nearly 7% and public debt has continued to increase.
|
Source
: CIA |
|
SAI COMMODITIES
LIMITED |
Telephone |
02086868740 |
|
65
DELAMERE ROAD |
Fax |
- |
|
HAYES |
Website |
|
|
MIDDLESEX |
|
|
|
UB40NN |
|
|
|
United
Kingdom |
|
|
|
Company
Number: |
06132176 |
Status: |
Active -
Accounts Filed |
|
Foundation: |
01/03/2007 |
|
|
No exact match CCJs are recorded against the
company. The credit limit on this company has risen 89.7% in comparison to the
previously suggested credit limit. Sales in the latest trading period increased
25.8% on the previous trading period. Net Worth increased by 33.2% during the
latest trading period. A 75.7% growth in Total Assets occurred during the
latest trading period. Pre-tax profits increased by 26.4% compared to the
previous trading period. The company saw an increase in their Cash Balance of
74.3% during the latest trading period. The audit report contains no adverse
comments. There has been no significant change in the company’s credit rating.
No recent changes in directorship are recorded. The company is not part of a
group. The company was established over 7 years ago.
Legal form
Private limited with Share Capital
Foundation
01/03/2007
Company No.
06132176
Shareholders
|
Name |
Currency |
Number
of shares |
Share
type |
Nominal
value |
|
DEEPAK
LAL RUPCHANDANI |
GBP |
221,250 |
ORDINARY |
1 |
|
SUJATA
RUPCHANDANI |
GBP |
73,750 |
ORDINARY |
1 |
|
Total
Share Capital |
GBP
295,000 |
|||
Management
|
Directors |
||||
|
Name |
Address: |
Date of
birth |
Nationality |
Appointment
date |
|
Mr Deepak Lal Rupchandani |
20
Barclay Road, Croydon CR0 1JN |
07/12/1962 |
Indian |
27/09/2012 |
|
Mr Ishwar Lal
Ashoka |
20
Barclay Road, Croydon CR0 1JN |
01/03/1935 |
British |
01/03/2007 |
Secretary
No Secretary appointed
Other Known
Addresses
20 Barclay Road, Croydon, Surrey CR0 1JN
65 Delamere Road, Hayes, Middlesex UB4 0NN
|
Main
activity |
|
|
Principal
Activity |
Commodities.
Accounts data converted from US dollars. |
|
SIC03 |
Agents
in sale of variety of goods |
|
SIC07 |
Agents
involved in the sale of a variety of goods |
Turnover and Employees
|
Date of
Accounts |
Turnover |
Employees |
|
31/12/2011 |
GBP
14,335,757 |
Not
Stated |
|
31/12/2012 |
GBP
8,239,472 |
Not
Stated |
|
31/12/2013 |
GBP
10,365,090 |
Not
Stated |
Banks
|
Bank
Name |
Bank
Branch Sort Code |
|
PUNJAB
NATIONAL BANK (INTERNATIONAL) LIMITED |
60-95-00 |
Auditor
Auditor name
THE CORPORATE PRACTICE LIMITED
Events
|
Company
history |
|
|
Date |
Action |
|
04/12/2009 |
New
Accounts Filed |
|
09/03/2010 |
Annual
Returns |
|
10/05/2011 |
New
Accounts Filed |
|
10/05/2011 |
New
Accounts Filed |
|
18/05/2011 |
Annual Returns |
|
23/08/2011 |
New
Accounts Filed |
|
23/08/2011 |
New
Accounts Filed |
|
20/03/2012 |
Annual
Returns |
|
14/08/2012 |
New
Accounts Filed |
|
14/08/2012 |
New
Accounts Filed |
|
13/11/2012 |
New
Board Member Mr D.L. Rupchandani
appointed |
|
28/06/2013 |
Annual
Returns |
|
03/10/2013 |
New
Accounts Filed |
|
03/10/2013 |
New
Accounts Filed |
|
12/04/2014 |
Annual
Returns |
|
08/07/2014 |
New
Accounts Filed |
|
08/07/2014 |
New
Accounts Filed |
|
Mortgages |
|||
|
Charge
created |
23/04/2008 |
||
|
Charge
registered |
29/04/2008 |
||
|
Status |
OUTSTANDING |
||
|
Entitled
person |
PUNJAB
NATIONAL (INTERNATIONAL) LIMITED |
||
|
Secured
amount |
US |
||
|
|
|||
|
Mortgage
detail |
THE COMPANY§INTEREST
BEARING DEPOSIT ACCOUNT HELD AT PUNJAB NATIONAL BANK (INTERNATIONAL) LIMITED
AND INCLUDES ANY SUB-ACCOUNT, ANY REDESIGNATION OF THAT ACCOUNT AND ANY
ACCOUNT. |
||
|
Charge
created |
23/04/2008 |
||
|
Charge
registered |
29/04/2008 |
||
|
Status |
OUTSTANDING |
||
|
Entitled
person |
PUNJAB
NATIONAL BANK (INTERNATIONAL) LIMITED |
||
|
Secured
amount |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
||
|
Mortgage
detail |
ALL RIGHT
TITLE ESTATE AND OTHER INTERESTS OF THE COMPANY IN EACH OF THE PROPERTIES.
ALL PLANT MACHINERY VEHICLES COMPUTERS AND OTHER EQUIPMENT OF THE COMPANY
BOTH PRESENT AND FUTURE AND ALL SPARE PARTS REPLACEMENTS MODIFICATIONS AND
ADDITIONS FOR THE SAME AND THE FULL BENEFIT OF ALL WARRANTIES AND MAINTERNACE
CONTRACTS FOR ANY OF THE SAME. SEE IMAGE FOR FULL DETAILS |
||
|
Charge
created |
27/03/2009 |
||
|
Charge
registered |
02/04/2009 |
||
|
Status |
OUTSTANDING |
||
|
Entitled
person |
PUNJAB NATIONAL
BANK (INTERNATIONAL) LIMITED |
||
|
Secured
amount |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
||
|
Mortgage
detail |
THE L/H
PROPERTY K/A 184 BENSHAM MANOR ROAD THORNTON HEATH SURREY AND GARAGE T/NOSGL41640,
A FIXED CHARGE ALL RENTAL INCOME PRESENT AND FUTURE AND THE PROCEEDS OF ANY
SALE. THE FIXED PLANT MACHINERY AND FIXTURES SEE IMAGE FOR FULL DETAILS |
||
|
Charge
created |
15/02/2010 |
||
|
Charge
registered |
27/02/2010 |
||
|
Status |
OUTSTANDING |
||
|
Entitled
person |
THE
ACCESS BANK UK LIMITED |
||
|
Secured
amount |
|
||
|
|
|
||
|
Mortgage
detail |
CASH
DEPOSITEDON A BANK CONTROLLED DEPOSIT ACCOUNT |
|
|
|
Charge
created |
27/04/2010 |
|
|
|
Charge
registered |
30/04/2010 |
|
|
|
Status |
OUTSTANDING |
|
|
|
Entitled
person |
THE
ACCESS BANK UK LIMITED |
|
|
|
Secured
amount |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING
OR EVIDENCING THE CHARGE |
|
|
|
Mortgage
detail |
FIXED
AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND
ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, UNCALLED CAPITAL, PLANT AND
MACHINERY, INTELLECTUAL PROPERTY. SEE IMAGE FOR FULL DETAILS |
|
|
|
Charge
created |
21/03/2013 |
|
|
|
Charge
registered |
28/03/2013 |
|
|
|
Status |
OUTSTANDING |
|
|
|
Entitled
person |
PUNJAB
NATIONAL BANK (INTERNATIONAL) LIMITED |
|
|
|
Secured
amount |
ALL MONIES
DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
|
|
|
Mortgage
detail |
20
BARCLAY ROAD, CROYDON, SURREY, T/NO:SGL649709, ALL RENTAL INCOME PRESENT
ORFUTURE, FIXED PLANT AND MACHINERY, FIXTURES AND ALL THE GOODWILL
OF THE TRADE OR BUSINESS (IF ANY) AND BOOK DEBTS AND ALL OTHER
PROPERTY ASSETS AND RIGHTS SEE IMAGE FOR FULL DETAILS |
|
|
County
Court Judgments (CCJs)
There are
no County Court Judgments listed against this company
Profit & Loss
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 39 GBP Group: No |
|
Turnover |
10,365,090 |
8,239,472 |
14,335,757 |
10,675,105 |
|
Export |
- |
- |
14,192,399.61 |
10,501,379.42 |
|
Cost of
Sales |
10,077,001.81 |
7,996,191.72 |
14,001,011.88 |
10,340,981.84 |
|
Gross
Profit |
288,088.55 |
243,280.1 |
334,745.26 |
334,122.96 |
|
Wages
And Salaries |
29,795 |
31,711 |
35,651 |
5,864 |
|
Directors
Emoluments |
- |
- |
- |
- |
|
Operating
Profit |
158,615.54 |
121,484.47 |
137,425.63 |
106,135.71 |
|
Depreciation |
7,163.82 |
5,088.02 |
6,388.05 |
5,847.72 |
|
Audit
Fees |
5,574.07 |
4,094.28 |
2,707.35 |
2,684.93 |
|
Interests
Payments |
90,215.24 |
77,245.13 |
67,481.52 |
52,260.59 |
|
Pre Tax
Profit |
71,071 |
56,219 |
82,392 |
60,277 |
|
Taxation |
-14,391.41 |
-10,891.38 |
-16,573.08 |
-10,475.94 |
|
Profit
After Tax |
56,679.53 |
45,327.83 |
65,818.82 |
49,800.57 |
|
Dividends
Payable |
0 |
0 |
0 |
0 |
|
Retained
Profit |
56,679.53 |
45,327.83 |
65,818.82 |
49,800.57 |
Balance Sheet
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 39 GBP Group: No |
|
Tangible
Assets |
609,528 |
155,702 |
173,425 |
159,602 |
|
Intangible
Assets |
0 |
0 |
0 |
0 |
|
Total
Fixed Assets |
609,528 |
155,702 |
173,425 |
159,602 |
|
Stock |
4,254 |
46,911 |
0 |
23,583 |
|
Trade
Debtors |
3,379,472 |
1,849,182 |
1,547,187 |
1,476,738 |
|
Cash |
1,448,982 |
831,119 |
728,509 |
659,987 |
|
Other
Debtors |
352,444 |
415,930 |
2,296 |
0 |
|
Miscellaneous
Current Assets |
0 |
0 |
0 |
0 |
|
Total
Current Assets |
5,185,152 |
3,143,143 |
2,277,992 |
2,160,308 |
|
Trade Creditors |
1,871,084 |
1,349,559 |
862,765 |
367,975 |
|
Bank
Loans and Overdraft |
2,491,246 |
1,198,083 |
975,627 |
1,219,087 |
|
Other
Short Term Finance |
19,980 |
27,477 |
8,466 |
9,448 |
|
Miscellaneous
Current Liabilities |
569,457 |
377,377 |
273,913 |
452,071 |
|
Total
Current Liabilities |
4,951,766 |
2,952,497 |
2,120,770 |
2,048,582 |
|
Bank
Loans and Overdrafts LTL |
2,872,705 |
1,198,083 |
975,627 |
1,227,780 |
|
Other
Long Term Finance |
381,459 |
0 |
0 |
0 |
|
Total
Long Term Liabilities |
381,459 |
0 |
0 |
8,693 |
Capital & Reserves
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 39 GBP Group: No |
|
Called
Up Share Capital |
295,276 |
59,003 |
64,810 |
64,273 |
|
P and L
Account Reserve |
76,089 |
255,683 |
231,059 |
163,872 |
|
Revaluation
Reserve |
90,089 |
31,662 |
34,778 |
34,490 |
|
Sundry
Reserves |
0 |
0 |
0 |
0 |
|
Shareholders
Funds |
461,455 |
346,347 |
330,648 |
262,635 |
Other Financial Items
|
|
31/12/2013 52 GBP Group: No |
31/12/2012 52 GBP Group: No |
31/12/2011 52 GBP Group: No |
31/12/2010 39 GBP Group: No |
|
Net
Worth |
461,455 |
346,347 |
330,648 |
262,635 |
|
Working
Capital |
233,385 |
190,646 |
157,223 |
111,726 |
|
Total
Assets |
5,794,679.76 |
3,298,844.23 |
2,451,417.28 |
2,319,909.52 |
|
Total
Liabilities |
5,333,225 |
2,952,497 |
2,120,770 |
2,057,274 |
|
Net
Assets |
461,455 |
346,347 |
330,648 |
262,635 |
Cash Flow
|
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
52 |
52 |
52 |
39 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
Group: No |
|
Net Cash
Flow from Operations |
0 |
0 |
0 |
0 |
|
Net Cash
Flow before Financing |
0 |
0 |
0 |
0 |
|
Net Cash
Flow from Financing |
0 |
0 |
0 |
0 |
|
Increase
in Cash |
617,862 |
102,610 |
68,523 |
-5,255 |
Miscellaneous
|
|
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
52 |
52 |
52 |
39 |
|
|
GBP |
GBP |
GBP |
GBP |
|
|
Group: No |
Group: No |
Group: No |
Group: No |
|
Capital Employed |
842,913 |
346,347 |
330,648 |
271,328 |
Financial Ratios
|
Name |
31/12/2013 |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
Pre Tax
Profit Margin |
0.69 % |
0.68 % |
0.57 % |
0.56 % |
|
Current
Ration |
1.05 |
1.06 |
1.07 |
1.05 |
|
Sales or
Net Working Capital |
44.41 |
43.22 |
91.18 |
95.55 |
|
Gearing |
622.53 % |
345.92 % |
295.07 % |
467.48 % |
|
Equity |
7.96 % |
10.50 % |
13.49% |
11.32% |
|
Creditor
Days |
65.70 |
59.62 |
21.90 |
9.41 |
|
Debtor
Days |
118.67 |
81.69 |
39.28 |
37.76 |
|
Liquidity
or Acid test |
1.04 |
1.04 |
1.07 |
1.04 |
|
Return
on Capital Employed |
8.43 % |
16.23 % |
24.91 % |
22.21 % |
|
Return
on Total Assets Employed |
1.22 % |
1.70 % |
3.36 % |
2.59 % |
|
Current
Debt Ratio |
10.73 % |
8.52 % |
6.41 % |
7.80 % |
|
Total
Debt Ratio |
11.55 % |
8.52 % |
6.41 % |
7.83 % |
|
Stock
Turnover Ratio |
0.04 % |
0.56 % |
0.0% |
0.22 % |
|
Return
on Net Assets Employed |
15.40 % |
16.23 % |
24.91 % |
22.95 % |
Remarks
Achieving good levels of turnover and profitability. The general financial
position seems to be in order and the reduction in the profit and loss accounts
was after capitalization of reserves. Should continue to trade well for the
foreseeable future.
Trading address: 20 Barclay Road, Croydon, Surrey CR0
1JN
Branches: None
Employees: 2 staff
Principal Activities: Global Commodity Traders
Bankers:
Punjab
National Bank (International) Ltd
Access
Bank UK Limited
NatWest Bank Plc
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.