MIRA INFORM REPORT
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Report No. : |
318497 |
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Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
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Name : |
SIDDHITEC COMFORTS PRIVATE LIMITED |
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Registered
Office : |
404, Astral Court, Above Reliance Fresh, Gaikwad Nagar Aundh, Pune –
411007, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
11.10.2000 |
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Com. Reg. No.: |
11-015413 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.450 Million |
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CIN No.: [Company Identification
No.] |
U29191PN2000PTC015413 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNES06678A |
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PAN No.: [Permanent Account No.] |
AAGCS4249G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Home Appliance and Also Providing Installation Services. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 moderate track record. Management of the company has failed to file its latest financial with
government department for FY2014. As per available financial of 2013, subject has fair profit margin and
liquidity position. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 : |
Ms. Mamta |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9011075417 |
|
Date : |
21.04.2015 |
LOCATIONS
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Registered Office : |
404, Astral Court, Above Reliance Fresh, Gaikwad Nagar Aundh, Pune –
411007, Maharashtra, India |
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Tel. No. : |
91-20-25889474 |
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Mobile No. : |
91-9011075417 (Ms. Mamta) |
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Fax No. : |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Vivek Keshav Damle |
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Designation : |
Director |
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Address : |
Flat No. 4, Usha Apts, Sanewdi Apts., Pune - 411007, Maharashtra, India |
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Date of Birth/Age : |
08.01.1963 |
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Date of Appointment : |
11.10.2000 |
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DIN No. : |
00450297 |
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Name : |
Mrs. Priti Vivek Damle |
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Designation : |
Director |
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Address : |
Flat No. 4, Usha Apts, Sanewdi Apts., Pune - 411007, Maharashtra, India |
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Date of Birth/Age : |
30.01.1963 |
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Date of Appointment : |
11.10.2000 |
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DIN No. : |
00453688 |
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Name : |
Mr. Sameer Devdatta Samel |
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Designation : |
Director |
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Address : |
5, Dattatraya Apts, LIC Colony, Near Bedekar Ganpati Mandir, Kothrud, Pune - 411038, Maharashtra, India |
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Date of Birth/Age : |
12.12.1966 |
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Date of Appointment : |
03.09.2001 |
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DIN No. : |
00454890 |
KEY EXECUTIVES
|
Name : |
Ms. Mamta |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Vivek Keshav Damle |
20000 |
44.44 |
|
Priti Vivek Damle |
20000 |
44.44 |
|
Sameer Devdatta Samel |
5000 |
11.11 |
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|
|
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Total |
45000 |
100.00 |
As on 18.03.2014
|
Names of Allottee |
No. of Shares |
|
Vivek Keshav Damle (HUF) |
5000 |
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|
|
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Total |
5000 |
As on 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Home Appliance and Also Providing Installation Services. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cheque and Credit |
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Purchasing : |
Cheque 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 : |
20 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
V. K. Paradkar and Company Chartered Accountants |
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Address : |
5, Neera, 34, Mrutyunjay Colony, Kothrud, Pune – 411038, Maharashtra, India |
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Tel. No. : |
91-20-24339641 / 24339642 |
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Mobile No. : |
91-99766327868 |
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E-Mail : |
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PAN
No. : |
ABQPP5157Q |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates / Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
After 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
90000 |
Equity Shares |
Rs.10/- each |
Rs.0.900 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
45000 |
Equity Shares |
Rs.10/- each |
Rs. 0.450 Million |
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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 |
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(1)Shareholders'
Funds |
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(a) Share Capital |
0.450 |
0.450 |
0.450 |
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(b) Reserves & Surplus |
7.498 |
6.132 |
4.955 |
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(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) |
7.948 |
6.582 |
5.405 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
0.400 |
0.802 |
1.167 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
0.400 |
0.802 |
1.167 |
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(4) Current Liabilities |
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(a) Short
term borrowings |
4.093 |
2.882 |
1.487 |
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(b) Trade
payables |
6.788 |
7.510 |
5.031 |
|
(c) Other
current liabilities |
7.546 |
4.780 |
2.918 |
|
(d) Short-term
provisions |
2.592 |
1.858 |
1.137 |
|
Total Current
Liabilities (4) |
21.019 |
17.030 |
10.573 |
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TOTAL |
29.367 |
24.414 |
17.145 |
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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 |
3.214 |
4.119 |
4.583 |
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(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 |
0.055 |
0.191 |
0.317 |
|
(c) Deferred tax assets (net) |
0.182 |
0.157 |
0.042 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3.451 |
4.467 |
4.942 |
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(2) Current assets |
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|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
4.323 |
2.442 |
1.859 |
|
(c) Trade receivables |
8.576 |
6.227 |
2.656 |
|
(d) Cash
and cash equivalents |
7.118 |
6.578 |
4.450 |
|
(e)
Short-term loans and advances |
5.899 |
4.700 |
3.238 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
25.916 |
19.947 |
12.203 |
|
|
|
|
|
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TOTAL |
29.367 |
24.414 |
17.145 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Income from operations |
74.120 |
71.354 |
52.072 |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
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TOTAL |
NA |
NA |
NA |
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PROFIT/
(LOSS) BEFORE TAX |
3.080 |
3.056 |
2.317 |
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TAX |
0.709 |
0.605 |
0.419 |
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PROFIT/
(LOSS) AFTER TAX |
1.366 |
1.176 |
1.210 |
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Earnings /
(Loss) Per Share (Rs.) |
30.35 |
26.15 |
26.89 |
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Particulars |
|
31.03.2015 |
31.03.2014 |
|
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Sales Turnover (Approximately) |
|
115.000 |
86.000 |
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The above information has been parted by Ms. Mamta
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.84 |
1.65 |
2.32 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.57 |
12.70 |
13.80 |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.46 |
0.43 |
|
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|
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|
Debt Equity Ratio (Total Debt/Networth) |
|
0.57 |
0.56 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.17 |
1.15 |
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 |
0.450 |
0.450 |
0.450 |
|
Reserves & Surplus |
4.955 |
6.132 |
7.498 |
|
Net worth |
5.405 |
6.582 |
7.948 |
|
|
|
|
|
|
long-term borrowings |
1.167 |
0.802 |
0.400 |
|
Short term borrowings |
1.487 |
2.882 |
4.093 |
|
Total borrowings |
2.654 |
3.684 |
4.493 |
|
Debt/Equity ratio |
0.491 |
0.560 |
0.565 |
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) |
|
Income from Operation |
52.072 |
71.354 |
74.120 |
|
|
|
37.029 |
3.876 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Income from Operation |
52.072 |
71.354 |
74.120 |
|
Profit |
1.210 |
1.176 |
1.366 |
|
|
2.32% |
1.65% |
1.84% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is Not Available.
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
The registered address of the company has been shifted from C-2
Chaitraban, Residencyhotel Sarja Lane, Off Iti Road, Aundh Pune – 411007,
Maharashtra, India to the present address w.e.f 01.06.2010
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10189150 |
24/11/2009 |
900,000.00 |
THE COSMOS CO-OPERATIVE BANK LIMITED (AUNDH
SANEWADI BRANCH) |
269/270, SHANIWAR PETH, PUNE, Maharashtra -
411030, INDIA |
A74700527 |
|
2 |
10058952 |
16/01/2014 * |
20,000,000.00 |
THE COSMOS CO-OPERATIVE BANK LIMITED(AUNDH
SANEWADI BRANCH) |
269/270, SHANIWAR PETH, PUNE, Maharashtra -
411030, INDIA |
B96636196 |
|
3 |
90087023 |
11/11/2004 |
150,000.00 |
THE COSMOS CO-OPERATIVE BANK LIMITED |
269/270, SHANIWAR PETH; AUNDH BRANCH, PUNE,
Maharashtra - 411030, INDIA |
- |
|
4 |
90086792 |
24/04/2004 |
100,000.00 |
THE COSMOS CO-OPERATIVE BANK LIMITED |
269/270, SHANIWAR PETH, PUNE, Maharashtra -
411030, INDIA |
- |
|
5 |
90093980 |
07/02/2004 |
3,000,000.00 |
THE COSMOS CO-OPERATIVE BANK LIMITED |
269/270, SHANIWAR PETH; AUNDH BRANCH, PUNE,
Maharashtra - 411030, INDIA |
- |
|
6 |
90086660 |
11/11/2004 * |
200,000.00 |
THE COSMOS CO-OPERATIVE BANK LIMITED |
269/270, SHANIWAR PETH; AUNDH BRANCH, PUNE,
Maharashtra - 411030, INDIA |
- |
* Date of charge modification
CORPORATE BUSINESS
PROFILE
Subject
is a Pune based company Incorporated in 2000, its core business revolves around
air conditioning systems. It takes up execution of turn key projects for
setting up air conditioning systems for large commercial projects. On
completion of the projects it also extends services for maintenance of the
installations. In addition, STCPL also represents almost all major companies
for distribution of their room air conditioners.
BUSINESS OUTLOOK
They continue to hold the view that business outlook is still moving in tandem with business confidence; a fact more aptly represented by lower allocations for projects across the industry segments.
The Directors believe that the Company's track record in service delivery and quality would continue to bring In steady flow of business. Consistent with this belief, the Directors have chosen to expand the geographical segments in which the Company has so far been operating. The Company has successfully bid for projects in Mumbai and achieved modest success In execution projects. This success has reinforced their decision to opt for geographical expansion to garner more business.
FIXED ASSETS
v Plant and Machinery
v Office Equipment
v Furniture and Fixture
v Vehicles
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.62.92 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
-- PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.