MIRA INFORM REPORT
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Report No. : |
316161 |
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Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHAKTI HITECH COMPONENTS PRIVATE LIMITED |
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Registered Office
: |
54-A, SMIE, Phase-II, Opposite YMCA, Mathura Road, Faridabad – 121
006, Haryana |
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Tel. No.: |
91-129-4003403 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
03.10.2001 |
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Com. Reg. No.: |
05-034759 |
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Capital
Investment / Paid-up Capital : |
Rs.2.947 million |
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CIN No.: [Company Identification
No.] |
U18101HR2001PTC034759 |
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IEC No.: |
Not Available |
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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
: |
Subject
is primarily engaged in the production of Pressure Die
Cast Components duly machined and assembled. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 80800 |
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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. Profitability of the company seems to be low during 2014. However,
general financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealing 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Ashish Rajkumar Rathi |
|
Designation : |
Director |
|
Contact No.: |
91-9818494806 |
|
Date : |
13.04.2015 |
LOCATIONS
|
Registered Office/ Factory : |
54-A, SMIE, Phase-II, Opposite YMCA, Mathura Road, Faridabad – 121
006, Haryana, India |
|
Tel. No.: |
91-129-4003403/ 2222182/ 4035069/ 5222182 |
|
Mobile No.: |
91-9818494806 (Mr. Ashish Rajkumar Rathi) |
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Fax No.: |
91-129-4006403 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Ashish Rajkumar Rathi |
|
Designation : |
Director |
|
Address : |
H. No.79, Sector-8, Faridabad – 121 006, Haryana, India |
|
Date of Birth/Age : |
03.03.1981 |
|
Date of Appointment : |
20.11.2001 |
|
DIN No.: |
01284297 |
|
|
|
|
Name : |
Mr. Raj Kumar Rathi |
|
Designation : |
Director |
|
Address : |
H. No.7, Sector-4 R, Faridabad – 121 006, Haryana, India |
|
Date of Birth/Age : |
26.06.1955 |
|
Date of Appointment : |
14.05.2008 |
|
DIN No.: |
02171840 |
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|
|
|
Name : |
Mr. Suresh Anant Rathi |
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Designation : |
Director |
|
Address : |
H. No.79, Sector-8, Faridabad – 121 006, Haryana, India |
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Date of Birth/Age : |
16.12.1957 |
|
Date of Appointment : |
14.05.2008 |
|
DIN No.: |
02184750 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Ashish Rathi |
103750 |
|
Manish Rathi |
112850 |
|
Abha Rathi |
100 |
|
Chitra Rathi |
100 |
|
Raj Kumar Rathi |
5725 |
|
Rekha Rathi |
100 |
|
Suresh Rathi |
5725 |
|
Suresh Rathi (HUF) |
100 |
|
Swati Jajoo |
90 |
|
Manish Jajoo |
10 |
|
Raj Kumar Rathi (HUF) |
100 |
|
Umesh Rathi |
66000 |
|
Total
|
294650 |
AS ON 30.09.2014
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is primarily engaged in the production of Pressure
Die Cast Components duly machined and assembled. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
· State Bank of Commerce · Citi Bank N.A ·
ICICI Bank Limited ·
HDFC Bank Limited ·
Small Industries Development Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
SPMR and Associates Chartered Accountants |
|
Address : |
Plot No.8/I, Sector-10, DLF, Opposite Civil Court, Faridabad – 121
006, Haryana, India |
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PAN
No.: |
AADFP3610N |
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Memberships : |
FCCI, FSSI |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
294650 |
Equity Shares |
Rs.10/- each |
Rs.2.947 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.947 |
2.947 |
2.947 |
|
(b) Reserves & Surplus |
25.322 |
24.315 |
23.091 |
|
(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 |
|
Total
Shareholders’ Funds (1) + (2) |
28.269 |
27.262 |
26.038 |
|
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|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
2.673 |
2.134 |
5.733 |
|
(b) Deferred tax liabilities (Net) |
0.272 |
0.422 |
0.634 |
|
(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) |
2.945 |
2.556 |
6.367 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
8.928 |
4.461 |
7.920 |
|
(b) Trade
payables |
16.691 |
14.160 |
12.278 |
|
(c) Other
current liabilities |
1.126 |
1.067 |
1.102 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
26.745 |
19.688 |
21.300 |
|
|
|
|
|
|
TOTAL |
57.959 |
49.506 |
53.705 |
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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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|
(i) Tangible
assets |
13.523 |
15.621 |
18.585 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.101 |
1.715 |
1.715 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
14.624 |
17.336 |
20.300 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
11.371 |
4.697 |
5.475 |
|
(c) Trade
receivables |
20.651 |
20.281 |
21.966 |
|
(d) Cash
and cash equivalents |
0.163 |
0.922 |
0.230 |
|
(e) Short-term
loans and advances |
3.913 |
4.300 |
3.988 |
|
(f) Other
current assets |
7.237 |
1.970 |
1.746 |
|
Total
Current Assets |
43.335 |
32.170 |
33.405 |
|
|
|
|
|
|
TOTAL |
57.959 |
49.506 |
53.705 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES TURNOVER
(APPROXIMATELY) |
150.000 |
130.000 |
120.000 |
|
|
|
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|
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|
|
Less |
EXPENSES |
|
|
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|
|
|
|
TOTAL |
NA |
NA |
NA |
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|
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|
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|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
4.149 |
4.668 |
5.157 |
|
|
|
|
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|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.686 |
3.210 |
3.618 |
|
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|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.463 |
1.458 |
1.539 |
|
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|
|
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|
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|
Less |
TAX |
0.456 |
0.234 |
0.252 |
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|
|
PROFIT/
(LOSS) AFTER TAX |
1.007 |
1.224 |
1.287 |
|
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|
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|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.42 |
4.15 |
4.37 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
150.000 |
|
|
|
|
|
The above information has been parted by Mr. Ashish Rajkumar Rathi
(Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.52 |
2.95 |
2.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.05 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.41 |
0.24 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62 |
1.63 |
1.57 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Share Capital |
2.947 |
2.947 |
2.947 |
|
Reserves & Surplus |
23.091 |
24.315 |
25.322 |
|
Net worth |
26.038 |
27.262 |
28.269 |
|
|
|
|
|
|
Long Term borrowings |
5.733 |
2.134 |
2.673 |
|
Short Term borrowings |
7.920 |
4.461 |
8.928 |
|
Total borrowings |
13.653 |
6.595 |
11.601 |
|
Debt/Equity ratio |
0.524 |
0.242 |
0.410 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Sales Turnover
(Approximately) |
120.000 |
130.000 |
150.000 |
|
|
|
8.333 |
15.385 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Sales Turnover
(Approximately) |
120.000 |
130.000 |
150.000 |
|
Profit |
1.287 |
1.224 |
1.007 |
|
|
1.07% |
0.94% |
0.67% |
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OPERATION
During the Period, the
company has earned interest of Rs.0.074 million. Total Profit before Tax is
Rs.1.463 million Profit after Tax is Rs.1.007 million. The Directors are
hopeful to get more business in the next period.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loan from Directors |
|
|
|
Mahesh Infratech |
1.719 |
0.000 |
|
Swati Jajoo |
0.388 |
0.388 |
|
Manish Jajoo (H.U.F.) |
0.046 |
0.041 |
|
Total |
2.153 |
0.429 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10233573 |
16/08/2010 |
5,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT
BANK OF INDIA |
N.H.5-R/2, NEELAM BADSHAH
KHAN ROAD, NIT, FARIDABAD, HARYANA - 121001, INDIA |
A91623884 |
|
2 |
10102610 |
26/03/2008 |
1,730,000.00 |
ORIENTAL BANK OF COMMERCE |
SIHI, SECTOR-7,
FARIDABAD, HARYANA - 121006, INDIA |
A38241261 |
|
3 |
10066591 |
20/08/2007 |
2,000,000.00 |
ORIENTAL BANK OF COMMERCE |
SECTOR 7, SIHI,
FARIDABAD, HARYANA - 121004, INDIA |
A22584395 |
|
4 |
90044341 |
31/08/2004 |
1,995,000.00 |
ORIENTAL BANK OF COMMERCE |
SECTOR - 7, FARIDABAD,
HARYANA, INDIA |
- |
|
5 |
80037507 |
20/01/2014 * |
9,000,000.00 |
ORIENTAL BANK OF COMMERCE |
SIHI BRANCH, SECTOR- 7
HUDA MARKET, FARIDABAD, HARYANA - 121003, INDIA |
B95177101 |
* Date of charge modification
FIXED ASSETS
·
Motor Car
·
Office Equipment
·
Plant and Machinery
·
Land and Building
·
Dies and Tools
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report : No
press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16
|
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
-- PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.