MIRA INFORM REPORT
|
Report Date : |
17.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUNITA COMMERCIALS PRIVATE LIMITED |
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Registered
Office : |
39, 2nd Bhoiwada, Above Mountain Showroom, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.12.1990 |
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Com. Reg. No.: |
11-059595 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.963 Millions |
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CIN No.: [Company Identification
No.] |
U99999MH1990PTC059595 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Chemicals. |
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No. of Employees
: |
18 (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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There is a dip in profit of the company in the year 2013-2014.
However, overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered 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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Mane |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-25472318 |
|
Date : |
17.12.2014 |
LOCATIONS
|
Registered Office : |
39, 2nd Bhoiwada, Above Mountain Showroom, |
|
Tel. No.: |
91-22-41128006/ 25472318 |
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Fax No.: |
91-22-25472481 |
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E-Mail : |
accounts@sunitacommercials.com
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Website : |
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Location : |
Owned |
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Corporate Office : |
A-204, Amargian Complex, LBS Marg, Thane (West), Mumbai – 400601, |
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Tel. No.: |
91-22-41128000 |
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Fax No.: |
91-22-21720036 |
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Correspondence Office : |
1006, Jai Antariksha Building, Makwana Road, Opposite Mittal
Industrial Estate, Marol, Andheri [East], Mumbai – 400059, Maharashtra,
India |
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Warehouse : |
Godown 1, 2, Building A, Jaishreeram Complex, Maujepurna, Bhiwandi,
District Thane – 421302, |
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Branch Office : |
Located at: · Ahmedabad |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rajkumar Brahmadutt Bubna |
|
Designation : |
Director |
|
Address : |
39, 2nd Bhoiwada, Above Moutain Showroom, Bhuleshwer Road,
Mumbai-400002, Maharashtra, India |
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Date of Birth/Age : |
06.06.1942 |
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Date of Appointment : |
28.12.1990 |
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Din No.: |
00400371 |
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|
|
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Name : |
Mr. Ashok Giridhari Saraf |
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Designation : |
Director |
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Address : |
3C/24, Drug Co-operative Housing Society, Pokharan Road, Thane (West),
Maharashtra, India |
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Date of Birth/Age : |
20.11.1957 |
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Date of Appointment : |
12.04.2004 |
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Din No.: |
00400302 |
KEY EXECUTIVES
|
Name : |
Mr. Mane |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Giridhari Saraf |
|
246180 |
|
Rajkumar Brahmadutt Bubna |
|
50 |
|
Premila |
|
10 |
|
Nandkumar Agarwal |
|
10 |
|
Rajendra Kumar Verma |
|
3000 |
|
Rajkumar Jain |
|
3000 |
|
Kalidas Swami |
|
4000 |
|
Satya Narayan Sharma |
|
4000 |
|
Laxmichand Jangid |
|
4000 |
|
Paraschand Jain |
|
3000 |
|
Tilakraj Khandelwal |
|
4000 |
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Arvind Bhatt |
|
5000 |
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Gulablal Raika |
|
5000 |
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Devkaran Tanwar |
|
5000 |
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Banwarilal Jhat |
|
5000 |
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Ghanshyam Khandelwal |
|
5000 |
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TOTAL |
|
296250 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
83.12 |
|
Other
top fifty shareholders |
16.88 |
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|
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Chemicals. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· China · Austria · Qatar · Spain · Taiwan |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
·
Aquapharm ·
Balmer Lawrie ·
BASF India ·
Bharat Insulation ·
Century Ply ·
Clariant Chemicals ·
Egwood ·
E-Merck ·
Esterkote ·
Foseco ·
Ranbaxy ·
Sika ·
Subh Resins and Fuels Limited · Uniply Industries |
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No. of Employees : |
18 (Approximately) |
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Bankers : |
·
Standard Chartered Bank SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra
Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India · HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Centurion Bank of Punjab Limited Nariman Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Mittal and Associates Chartered Accountants |
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Address : |
471B, 4th Floor, Astral Centre, N.M. Joshi Marg, Chinchpokli, Mumbai –
400011, Maharashtra, India |
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Tel. No.: |
91-22-40020123 |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFM9559Q |
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Associates/Subsidiaries : |
Sanyog Chemicals Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
296,250 |
Equity Shares |
Rs. 10/- each |
Rs. 2.963 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
2.963 |
2.963 |
2.963 |
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(b) Reserves & Surplus |
60.017 |
57.389 |
49.686 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
62.980 |
60.352 |
52.649 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
2.779 |
4.298 |
6.016 |
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(b) Deferred tax liabilities (Net) |
1.656 |
1.311 |
0.944 |
|
(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) |
4.435 |
5.609 |
6.960 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
111.758 |
108.651 |
84.629 |
|
(b)
Trade payables |
70.542 |
107.433 |
91.159 |
|
(c)
Other current liabilities |
2.967 |
4.270 |
2.968 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
185.267 |
220.354 |
178.756 |
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|
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TOTAL |
252.682 |
286.315 |
238.365 |
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II.
ASSETS |
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(1) Non-current assets |
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(a)
Fixed Assets |
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|
|
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(i)
Tangible assets |
21.934 |
22.320 |
19.283 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
1.290 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
4.775 |
4.757 |
4.649 |
|
(e)
Other Non-current assets |
4.619 |
4.219 |
3.404 |
|
Total
Non-Current Assets |
31.428 |
31.396 |
28.726 |
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
33.675 |
39.190 |
27.425 |
|
(c)
Trade receivables |
150.783 |
174.979 |
147.607 |
|
(d)
Cash and cash equivalents |
30.358 |
33.218 |
26.280 |
|
(e)
Short-term loans and advances |
0.184 |
0.420 |
0.058 |
|
(f)
Other current assets |
6.254 |
7.112 |
8.269 |
|
Total
Current Assets |
221.254 |
254.919 |
209.639 |
|
|
|
|
|
|
TOTAL |
252.682 |
286.315 |
238.365 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
834.368 |
801.286 |
574.212 |
|
|
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|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
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TOTAL |
830.556 |
789.815 |
570.258 |
|
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PROFIT BEFORE
TAX |
3.812 |
11.471 |
3.954 |
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Less |
TAX |
1.185 |
3.768 |
1.345 |
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PROFIT AFTER TAX
|
2.627 |
7.703 |
2.609 |
|
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|
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|
Earnings Per
Share (Rs.) |
8.87 |
26.00 |
8.81 |
|
Expected Sales (2014-2015): Rs. 1000.000 Millions
The above information has been parted by Mr. Mane [Accounts Executive]
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.51 |
4.01 |
1.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.19 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.82 |
1.87 |
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.16 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2.963 |
2.963 |
2.963 |
|
Reserves & Surplus |
49.686 |
57.389 |
60.017 |
|
Net
worth |
52.649 |
60.352 |
62.980 |
|
|
|
|
|
|
Long-term borrowings |
6.016 |
4.298 |
2.779 |
|
Short term borrowings |
84.629 |
108.651 |
111.758 |
|
Total
borrowings |
90.645 |
112.949 |
114.537 |
|
Debt/Equity ratio |
1.722 |
1.872 |
1.819 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
574.212 |
801.286 |
834.368 |
|
|
|
39.545 |
4.129 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
574.212 |
801.286 |
834.368 |
|
Profit |
2.609 |
7.703 |
2.627 |
|
|
0.45% |
0.96% |
0.31% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
1.522 |
1.644 |
NA |
|
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|
|
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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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10374464 |
25/09/2012 * |
60,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 & 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
B65593949 |
|
2 |
10295347 |
27/04/2012 * |
158,925,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B38917019 |
|
3 |
10225104 |
27/04/2012 * |
158,925,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B38357505 |
|
4 |
10037296 |
28/01/2008 * |
62,600,000.00 |
CENTURION BANK OF PUNJAB LTD. |
NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A34845420 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
44.480 |
24.554 |
|
|
|
|
|
Total |
44.480 |
24.554 |
FIXED ASSETS:
· Office Premises
· Office Equipment
· Furniture
· Vehicle
· Computer
· Air Conditioner
· Printers
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 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. 63.41 |
|
|
1 |
Rs. 99.30 |
|
Euro |
1 |
Rs. 79.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--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.