MIRA
INFORM REPORT
|
Report Date : |
21.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
S.B. RESHELLERS PRIVATE LIMITED (w.e.f. 28.03.2000) |
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Formerly Known
as : |
THE SHIRGAONKAR INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
392, E-Ward, Shahupuri, Post Box No.201, Kolhapur - 416001,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
30.04.1949 |
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Com. Reg. No.: |
11-007210 |
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Capital
Investment / Paid-up Capital : |
Rs. 87.115 Millions |
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CIN No.: [Company Identification
No.] |
U29199MH1949PTC007210 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
KLPS04961F |
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PAN No.: [Permanent Account No.] |
AAACT9142M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing mill rollers for new sugar mills and also
undertakes Re-shelling of old sugar mill rollers. |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 seems some dip in the turnover however, growth in the profits of
the company during 2013. General financial position of the company is normal
and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payments
terms 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted biggest
quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly
because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : “BB+” |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
31.12.2013 |
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. Deepak Khot |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-7774056061 |
|
Date : |
19.06.2014 |
LOCATIONS
|
Registered Office : |
392, E-Ward, Shahupuri, Post Box No.201, Kolhapur - 416001,
Maharashtra, India |
|
Tel. No.: |
91-231-2658297 / 2658893 / 2468096 |
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Fax No.: |
91-231-2653365 / 2468678 |
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E-Mail : |
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Website : |
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Factory : |
D-5 & D-15, MIDC, Shiroli, Kolhapur - 416122, Maharashtra, India |
DIRECTORS
As on 10.09.2013
|
Name : |
Mr. Rajendra Vinayak Shirgaokar |
|
Designation : |
Director |
|
Address : |
At Post Ugar Khurd, Taluka Athani, Belgaum - 591316, Karnataka, India |
|
Date of Birth/Age : |
10.06.1935 |
|
Date of Appointment : |
24.11.1999 |
|
PAN No.: |
AGMPS9567L |
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DIN No.: |
00542644 |
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|
|
|
Name : |
Ms. Prafulla Vinayak Shirgaokar |
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Designation : |
Director |
|
Address : |
At Post Ugar Khurd, Taluka Athani, Belgaum - 591316, Karnataka, India |
|
Date of Birth/Age : |
11.09.1938 |
|
Date of Appointment : |
20.03.1997 |
|
DIN No.: |
00151114 |
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|
|
|
Name : |
Mr. Shishir Suresh Shirgaokar |
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Designation : |
Director |
|
Address : |
12, Kostka, 31, Pali Road, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
06.01.1945 |
|
Date of Appointment : |
22.07.2011 |
|
DIN No.: |
00166189 |
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|
|
|
Name : |
Mr. Chandan Sanjeev Shirgaokar |
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Designation : |
Director |
|
Address : |
At Post Ugar Khurd, Taluka Athani, Belgaum - 591316, Karnataka, India |
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Date of Birth/Age : |
20.10.1977 |
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Date of Appointment : |
01.08.2004 |
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PAN No.: |
ADGPS7606B |
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DIN No.: |
00208200 |
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|
|
|
Name : |
Mr. Niraj Shishir Shirgaokar |
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Designation : |
Director |
|
Address : |
Rishi Apartment, Lane 6, Kalyani Nagar, Pune – 410006, Maharashtra, India |
|
Date of Birth/Age : |
25.05.1972 |
|
Date of Appointment : |
20.02.2006 |
|
DIN No.: |
00254525 |
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|
|
|
Name : |
Mr. Anant Shriniwas Huilgol |
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Designation : |
Director |
|
Address : |
2147, Shrinivas, Near Hotel Woodland, Tarabai Park, Kolhapur – 416003, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1939 |
|
Date of Appointment : |
27.11.2010 |
|
DIN No.: |
00254492 |
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|
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|
Name : |
Mr. Sachin Rajendra Shirgaokar |
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Designation : |
Managing Director |
|
Address : |
Meena Sarlashkar Park, Opposite Circuit House, Tarabai Park, Kolhapur - 416003, Maharashtra, India |
|
Date of Birth/Age : |
26.02.1966 |
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Date of Appointment : |
17.06.1994 |
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PAN No.: |
ACLPS8941H |
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DIN No.: |
01512497 |
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|
Name : |
Mr. Sohan Sanjeev Shirgaokar |
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Designation : |
Joint Managing Director |
|
Address : |
At Post Ugar Khurd, Taluka Athani, Belgaum - 591316, Karnataka, India |
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Date of Birth/Age : |
07.12.1982 |
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Date of Appointment : |
16.04.2008 |
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PAN No.: |
ALLPS5534R |
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DIN No.: |
00217631 |
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|
|
|
Name : |
Mr. Jeevan Vasant Shirgaokar |
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Designation : |
Director (Operations) |
|
Address : |
9, Amey Co-operative Housing Society, Takala, Mail Colony, Kolhapur – 416008, Maharashtra, India |
|
Date of Birth/Age : |
18.04.1957 |
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Date of Appointment : |
24.11.1999 |
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PAN No.: |
ADXPS8298N |
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DIN No.: |
00254572 |
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|
Name : |
Mr. Sanat Kumar Shirgaokar |
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Designation : |
Director |
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Address : |
333, E, New Shahupuri, Kolhapur – 416001, Maharashtra, India |
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Date of Birth/Age : |
20.03.1963 |
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Date of Appointment : |
17.06.1996 |
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PAN No.: |
ACGPS2748R |
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DIN No.: |
00208235 |
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|
Name : |
Mr. Ganesh Krishnan Iyer |
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Designation : |
Director |
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Address : |
303, Shree Ram Towers, Amar Nagar, Lok Rachana Complex, Mulund (West), Mumbai – 400082, Maharashtra, India |
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Date of Birth/Age : |
12.08.1952 |
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Date of Appointment : |
06.09.2012 |
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PAN No.: |
AAEPI5444E |
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DIN No. : |
06377542 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Khot |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 10.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
35.21 |
|
Directors or relatives of Directors |
63.98 |
|
Other top fifty shareholders |
0.81 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing mill rollers for new sugar mills and also
undertakes Re-shelling of old sugar mill rollers. |
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Products : |
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Exports : |
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Products : |
Sugar Mill Plants, Roller Sugar Mill Machinery, etc. |
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Countries : |
· Philippines · Europe |
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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 (AS ON 31.03.2011)
ENGINEERING
DIVISION UNIT NO.I
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
CI/SG
Iron/Nickel Casting |
MT |
12000 |
137064 |
|
Steel Castings. |
MT |
300 |
-- |
|
Sugar Mill
Roller |
MT |
-- |
8800.70 |
|
Shells |
Nos. |
-- |
1145 |
ENGINEERING DIVISION UNIT NO.II
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tail Bar Shaft |
Nos. |
-- |
1 |
|
Sugar Mill
Roller |
Nos. |
250 |
97 |
Notes:
- Installed capacity is as
certified by the Managing Director.
- Engineering Division Unit No-I Out of Sugar Mill Roller Shells
produced and including Opening Stock of 336 Nos.(Previous Year 385 Nos.)
i)
664 Nos. (Previous Year 496 Nos.) shells are used
in carrying out the shelling / reshelling of Sugar Mill Rollers.
ii)
332 Nos. (Previous Year 290 Nos.) shells are used
in manufacturing of New Sugar Mill Rollers.
iii)
163 Nos. (Previous Year 53 Nos. which includes 1 no
of sleeve) shells are sold direct to customer.
iv)
317 Nos. (Previous Year 332 Nos.) shells are lying
in stock at the end of the year in semi-finished condition
v)
5 Nos. (Previous Year 10 Nos.) shells are used as
free replacement of Rollers.
vi)
Nil Nos. ( Previous Year 4 Nos.) shells are lying
in stock at the end of the year in finished condition.
vii)
Besides 4.500 M.T. of castings produced for captive
consumption. (Previous year 101.280 M.T.)
- Engineering Division Unit No-I Out of C.I. /C.S./S.G.Iron Castings
produced. 163.290 M.T. (Previous Year 104.580 M.T.) are lying in stock in semi
finished condition at the end of the year.
GENERAL INFORMATION
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Customers : |
Retailers and End Users |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
· IDBI Bank Limited, Shivaji Chowk Branch, Shivaji Chowk, Kolhapur - 416002, Maharashtra, India · HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
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Facilities : |
NOTE LONG TERM
BORROWINGS IDBI Bank : Equitable mortgage of entire gross block of Kolhapur and Rudrapur engineering division. IDBI Bank : Equitable mortgage of entire gross block of Kolhapur engineering division. Collateral securities extended on fixed assets of Rudrapur engineering division HDFC Bank : hypothecation of Vehicle Tata Capital Financial Services Limited : hypothecation of vehicle SHORT TERM BORROWINGS Cash Credit : Hypothecation of inventory, book debts and
extended charge on gross block of Kolhapur and Rudrapur engineering division
excluding vehicles. Hotel division cash credit from bank of India is secured by
hypothecation of inventory and book debts. |
|
Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
P G Bhagwat Chartered Accountant |
|
Address : |
Cs No 250/B/2, Lower Ground Floor, Shop No 3, Anant Paradise, Nagala Park, Kolhapur – 416003, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB0762E |
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Subsidiary Company : |
Synergy Green Industries Private Limited CIN No.: U27100PN2010PTC137493 |
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Associates : |
· Tara Tiles Private Limited CIN No.: U26933PN1989PTC052548 · The Ugar Sugar Works Limited CIN No.: L15421PN1939PLC006738 · M Shirgaokar Investments Private Limited CIN No.: U65993PN1987PTC045227 · Shakti Alloy Steels Limited CIN No.: U27106MH1973PTC016697 |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· Shantaram Machineries Private Limited CIN No.: U29254MH1981PTC025896 · Prafulla Shirgaokar Investments Private Limited CIN No.: U65993PN1991PTC063164 · D M Shirgaokar Investments Private Limited CIN No.: U65993PN1987PTC045227 · Mohan Shirgaokar Investments Private Limited CIN No.: U67110PN1993PTC072412 · Suresh Shirgaokar Investments Private Limited CIN No.: U65993PN1987PTC045234 · Shishir Shirgaokar Investments Private Limited CIN No.: U65993PN1989PTC053452 · Vinayak Shirgaokar Investments Private Limited CIN No.: U65993PN1987PTC045242 · Prabhakar Shirgaonkar Investments Private Limited CIN No.: U65993PN1988PTC045912 · Sanjiv Shirgaokar Investments Private Limited CIN No.: U65993MH1989PTC053183 · B B Theatres Private Limited CIN No.: U92141MH1981PTC025254 · Ugar Pipe Industries Private Limited CIN No.: U26932MH1989PTC053446 · The Ugar Sugar Works Limited CIN No.: L15421PN1939PLC006738 · Sadashiva Sugars Limited CIN No.: U15421KA2002PLC029968 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
871150 |
Equity Shares |
Rs.100/-
each |
Rs. 87.115
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 |
87.115 |
87.115 |
87.115 |
|
(b) Reserves & Surplus |
198.080 |
175.723 |
166.705 |
|
(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) |
285.195 |
262.838 |
253.820 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term Borrowings |
53.037 |
61.397 |
19.819 |
|
(b) Deferred Tax Liabilities (Net) |
1.723 |
0.000 |
0.000 |
|
(c) Other Long Term
Liabilities |
4.140 |
40.640 |
4.140 |
|
(d) long-term Provisions |
1.443 |
1.375 |
1.531 |
|
Total Non-current
Liabilities (3) |
60.343 |
103.412 |
25.490 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
Term Borrowings |
97.634 |
84.257 |
79.297 |
|
(b) Trade
Payables |
74.208 |
110.620 |
127.774 |
|
(c) Other
Current Liabilities |
114.518 |
130.021 |
131.082 |
|
(d) Short-term
Provisions |
25.486 |
17.428 |
11.086 |
|
Total Current
Liabilities (4) |
311.846 |
342.326 |
349.239 |
|
|
|
|
|
|
TOTAL |
657.384 |
708.576 |
628.549 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible Assets |
134.661 |
147.617 |
121.966 |
|
(ii)
Intangible Assets |
0.402 |
0.563 |
0.750 |
|
(iii)
Capital Work-in-Progress |
6.564 |
10.626 |
14.732 |
|
(iv)
Intangible assets under Development |
6.721 |
3.798 |
0.000 |
|
(b) Non-current Investments |
173.926 |
158.326 |
63.087 |
|
(c) Deferred Tax Assets (net) |
0.000 |
4.218 |
7.979 |
|
(d) Long-term Loan and Advances |
11.303 |
19.003 |
12.670 |
|
(e) Other
Non-current Assets |
3.000 |
0.750 |
0.000 |
|
Total Non-Current
Assets |
336.577 |
344.901 |
221.184 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current Investments |
0.000 |
0.000 |
1.021 |
|
(b) Inventories |
257.239 |
253.915 |
256.221 |
|
(c) Trade
Receivables |
19.980 |
39.471 |
38.274 |
|
(d) Cash
and Cash Equivalents |
5.241 |
25.137 |
74.350 |
|
(e)
Short-term Loans and Advances |
21.923 |
25.839 |
24.360 |
|
(f) Other
Current Assets |
16.424 |
19.313 |
13.139 |
|
Total
Current Assets |
320.807 |
363.675 |
407.365 |
|
|
|
|
|
|
TOTAL |
657.384 |
708.576 |
628.549 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
620.966 |
783.312 |
731.965 |
|
|
|
Other Income |
26.926 |
12.644 |
3.963 |
|
|
|
TOTAL (A) |
647.892 |
795.956 |
735.928 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
343.851 |
492.900 |
530.929 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(31.035) |
(16.152) |
(72.002) |
|
|
|
Other Manufacturing Expenses |
95.817 |
116.045 |
95.178 |
|
|
|
Employees benefits expense |
99.671 |
98.382 |
97.929 |
|
|
|
Other expenses |
28.570 |
34.584 |
24.623 |
|
|
|
TOTAL (B) |
536.874 |
725.759 |
676.657 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
111.018 |
70.197 |
59.271 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
19.557 |
15.348 |
8.887 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
91.461 |
54.849 |
50.384 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.904 |
22.414 |
19.448 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
61.557 |
32.435 |
30.936 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
18.951 |
7.760 |
12.159 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
42.606 |
24.675 |
18.777 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
28.912 |
9.415 |
8.530 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
48.91 |
28.32 |
38.35 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
650.000 |
|
|
|
|
|
The above information has been parted by Mr. Deepak Khot (Finance
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.58 |
3.10 |
2.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.91 |
4.14 |
4.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.09 |
6.10 |
5.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.12 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53 |
0.55 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
1.06 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
87.115 |
87.115 |
87.115 |
|
Reserves & Surplus |
166.705 |
175.723 |
198.080 |
|
Net
worth |
253.820 |
262.838 |
285.195 |
|
|
|
|
|
|
long-term borrowings |
19.819 |
61.397 |
53.037 |
|
Short term borrowings |
79.297 |
84.257 |
97.634 |
|
Total
borrowings |
99.116 |
145.654 |
150.671 |
|
Debt/Equity
ratio |
0.390 |
0.554 |
0.528 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
731.965 |
783.312 |
620.966 |
|
|
|
7.015 |
-20.726 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
731.965 |
783.312 |
620.966 |
|
Profit |
18.777 |
24.675 |
42.606 |
|
|
2.57% |
3.15% |
6.86% |
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
four 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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10308047 |
09/10/2012 * |
15,000,000.00 |
IDBI BANK LIMITED |
SHIVAJI CHOWK BRANCH, SHIVAJI CHOWK, KOLHAPUR, MAHARASHTRA - 416002, INDIA |
B60276987 |
|
2 |
10308049 |
30/08/2011 |
2,500,000.00 |
IDBI BANK LIMITED |
SHIVAJI CHOWK BRANCH, SHIVAJI CHOWK, KOLHAPUR, MAHARASHTRA - 416002, INDIA |
B21383898 |
|
3 |
10308050 |
30/08/2011 |
10,000,000.00 |
IDBI BANK LIMITED |
SHIVAJI CHOWK BRANCH, SHIVAJI CHOWK, KOLHAPUR, MAHARASHTRA - 416002, INDIA |
B21384367 |
|
4 |
10282160 |
30/08/2011 * |
19,000,000.00 |
IDBI BANK LIMITED |
SHIVAJI CHOWK BRANCH, SHIVAJI CHOWK, KOLHAPUR, MAHARASHTRA - 416002, INDIA |
B21386974 |
|
5 |
10282159 |
30/08/2011 * |
63,000,000.00 |
IDBI BANK LIMITED |
SHIVAJI CHOWK BRANCH, SHIVAJI CHOWK, KOLHAPUR, MAHARASHTRA - 416002, INDIA |
B21387493 |
|
6 |
10178264 |
12/02/2013 * |
25,000,000.00 |
IDBI BANK LIMITED |
SHIVAJI CHOWK BRANCH, SHIVAJI CHOWK, KOLHAPUR, MAHARASHTRA - 416002, INDIA |
B68806934 |
|
7 |
90087294 |
05/07/2007 * |
70,000,000.00 |
IDBI LIMITED |
SHIVAJI CHOWK BRANCH, SHIVAJI CHOWK, KOLHAPUR, MAHARASHTRA - 416002, INDIA |
A18646323 |
|
8 |
90085543 |
14/12/2004 * |
14,000,000.00 |
THE UNITED WESTERN BANK LTD |
SHIVAJI CHOWK BRANCH, KOLHAPUR, MAHARASHTRA, INDIA |
- |
|
9 |
90085538 |
30/08/2011 * |
100,000,000.00 |
IDBI BANK LIMITED |
SHIVAJI CHOWK BRANCH, SHIVAJI CHOWK, KOLHAPUR, MAHARASHTRA - 416002, INDIA |
B21381561 |
|
10 |
90087772 |
31/03/1993 |
6,000,000.00 |
THE MAHARASHTRA STATE FINANCIAL CORP |
UDYOG BHAVAN; ASSEMBLY ROAD, KOLHAPUR, WEST BENGAL, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Rupee term loans from others |
17.259 |
16.159 |
|
Total |
17.259 |
16.159 |
CORPORATE INFORMATION
Incorporated on 30-04-1949, as Shirgaokar Industries Private Limited, and during 1999-2000, S. B. Reshellers Limited merged with Shirgaokar Industries Private Limited, and renamed as S. B. Reshellers Private Limited, engaged in the business of manufacturing mill rollers for new sugar mills and also undertakes Re-shelling of old sugar mill rollers. The Company also manufactures cast iron and S.G.iron castings. The Company has business of Hoteling. The Company has plants located at Kolhapur and at Rudrapur (Uttarakhand). It also has Subsidiary Company namely Synergy Green Industries Private Limited., engaged in manufacturing of heavy Cast Iron (CI) and SG Iron Castings.
CONTINGENT
LIABILITIES (AS ON 31.03.2013):
i) Claims against the
Company not acknowledged as debts : Nil
ii) Guarantees
Engineering Division
Unit No. I
a. Corporate Guarantee of Rs. Nil/-given to Sudalgunta Sugar Limited on behalf of Shantaram Machineries Private Limited (Previous Year Rs. 0.136 Million)
b. Corporate Guarantee of Rs. 446.600 Millions Given to Bank Of Baroda on behalf of Synergy Green Industries Private Limited (Subsidiary).(Previous Year Rs. 446.600 Millions)
c. Corporate Guarantee of Rs. 12.840 Millions given to The Ugar Sugar Works Limited on behalf of Shantaram Machineries Private Limited (Previous Year Rs. Nil)
Hotel Division
a. Guarantee given to state Excise for Bar License Rs. 0.051 Million (Previous Year Rs. 0.051 Million)
iii) Others
Engineering Division
Unit No. I
a. Claims under Factories Act, amount not ascertainable, matter sub-judice.
b. Appeal Filed with Commissioner of Income - Tax for the A.Y. Rs. 0.688 Million
c. In respect of Excise Duty & Service Tax Rs. 6.269 Millions (Previous Year Rs. 6.269 Millions) matter sub-judice.
d. Works Contract Tax for the F.Y.2000-01 Rs. 0.030 Million A.Y.2001-02 Rs. 0.020 Million (Previous Year Rs. 0.050 Million), matter sub-judice.
e. B.S.T. Tax for the F.Y.2001-02 Rs. 0.047 Million (Previous Year Rs. 0.047 Million), matter sub-judice.
f. C.S.T. Tax for the F.Y.2001-02 Rs. 0.020 Million (Previous Year Rs. 0.020 Million), matter sub-judice.
Engineering Division
Unit No. II
a. In respect of Service Tax (including penalty) Rs. 4.409 Millions (Previous Year Rs. 4.409 Millions) matter sub-judice.
Hotel Division
a. K.M.C. towards License fees Rs. Nil/- (Previous Year Rs. 0.048 Million)
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Other Equipments
Intangible Assets
· 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 records 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.60.28 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.