MIRA INFORM REPORT
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Report No. : |
301675 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SOHAM INDUSTRIAL MACHINERY LIMITED (w.e.f.11.04.2012) |
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Formerly Known
As : |
GOLDEN EYE POLY PACK LIMITED |
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Registered
Office : |
Shop. No. 11, 1st Floor, Mahavir Palace, Central Road
No.6, Udhana Udhyog Nagar, Surat – 394210, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
31.12.2008 |
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Com. Reg. No.: |
04-055796 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
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CIN No.: [Company Identification
No.] |
U29248GJ2008PLC055796 |
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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 : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Incase Stock Making Machine, Brick Making
Machines and AAC Block Making Plant. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 4200 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Even though the company was incorporated during 31st
December, 2008. It has started its commercial operation from April 2012 and
is bearing a moderate track record. As per Registrar of Companies, the date of balance sheet i.e.
financial filed is shown as 31.03.2014 but the documents related to the
financial for the year 2014 are not available from any source. However as per available information the profitability of the company
seems to be low. Trade relations seem to be fair. Business is active. Payment terms are
reported to be unknown. The company can be considered for business dealings with some caution.
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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) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 DECLINED BY
|
Name : |
Mr. Kishor Kapadia |
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Designation : |
Director |
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Contact No.: |
91-261-6507848 |
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Date : |
27.01.2015 |
LOCATIONS
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Registered Office : |
Shop. No. 11, 1st Floor, Mahavir Palace, Central Road
No.6, Udhana Udhyog Nagar, Surat – 394210, Gujarat, India |
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Tel. No.: |
91-261-6507848 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory : |
Plot No. A/13/22, Opposite Calcutta Bearing, Central Road No. 7,
Udhna, Udyognagar, Surat - 394210, Gujarat, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Kishor Dhirajlal Kapadiya |
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Designation : |
Managing director |
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Address : |
48, Panchavati Raw House, B/H Mahavir Society, Puna Cimada Road, Opposite Varachha Chopati, Surat - 395010, Gujarat, India |
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Date of Birth/Age : |
01.12.1977 |
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Date of Appointment : |
05.09.2013 |
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DIN No.: |
05230829 |
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Other Directorship :
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Name : |
Mr. Ghanshyambhai Jashbhai Patel |
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Designation : |
Managing director |
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Address : |
B-504, Akshar Plaza, Opposite Sarita Sankul, Near Sardar Bridge, Adajan, Surat - 395009, Gujarat, India |
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Date of Birth/Age : |
01.06.1970 |
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Date of Appointment : |
05.09.2013 |
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DIN No.: |
05265097 |
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Other Directorship :
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Name : |
Mr. Dharmendra Kumar Kapdiya Dhirajlal |
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Designation : |
Managing director |
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Address : |
2/ J.K. Nagar Society, Parvat Patiya, Khumbhariy Road, Surat - 395010, Gujarat, India |
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Date of Birth/Age : |
03.01.1981 |
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Date of Appointment : |
12.04.2012 |
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DIN No.: |
05265110 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Sanjaykumar Jashbhai Patel |
4500 |
9.00 |
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Jinal Sanjaykumar Patel |
4500 |
9.00 |
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Devchandbhai Naranbhai Ranparia |
4500 |
9.00 |
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Bhadresh Devchandbhai Ranparia |
4500 |
9.00 |
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Ukabhai Z. Padmani |
4500 |
9.00 |
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Navinbhai Vinayakbhai Patel |
4500 |
9.00 |
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Ghanshyambhai Jashbhai Patel |
23000 |
46.00 |
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Total |
50000 |
100.00 |
AS ON 30.09.2013
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Incase Stock Making Machine, Brick Making
Machines and AAC Block Making Plant. |
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Products/ Services : |
·
AAC Block Production Line Incense Stick Making Machine Bricks Making Machine Textile Machinery Manufacturers Special Purpose Machine (SPM) Value Addition Machine Friction Welding Machine Plants and Machinery Manufacturers Industrial Automation Punching Machines Textile Machinery Spares and Samples |
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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 : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· ICICI Bank Limited Udyog Nagar Branch, Surat – 394210, Gujarat, India |
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Facilities : |
-- |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
AGKR and Company Chartered Accountants |
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Address : |
545, Kohinoor Textile Market, Kamela Darwaja, Ring Road, Surat –
395002, Gujarat, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAKFG7532K |
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Sister Concern : |
· Soham Tech Engineering Panphi Machinery Tirth Enterprises |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs. 10.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 1.651
Millions
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
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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|
100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 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 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.500 |
0.500 |
0.500 |
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(b) Reserves & Surplus |
0.076 |
0.000 |
0.000 |
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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 |
0.926 |
0.926 |
0.926 |
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Total
Shareholders’ Funds (1) + (2) |
1.502 |
1.426 |
1.426 |
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(3) Non-Current
Liabilities |
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(a) Long-term borrowings |
0.225 |
0.125 |
0.125 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
0.225 |
0.125 |
0.125 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b)
Trade payables |
31.426 |
0.013 |
0.010 |
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(c) Other
current liabilities |
0.000 |
0.000 |
0.000 |
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(d) Short-term
provisions |
0.010 |
0.000 |
0.000 |
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Total Current
Liabilities (4) |
31.436 |
0.013 |
0.010 |
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TOTAL |
33.163 |
1.564 |
1.561 |
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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 |
0.188 |
0.000 |
0.000 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
0.003 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
3.048 |
0.000 |
0.000 |
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(e) Other
Non-current assets |
0.000 |
0.000 |
0.426 |
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Total Non-Current
Assets |
3.239 |
0.000 |
0.426 |
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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 |
5.961 |
0.000 |
0.000 |
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(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
1.958 |
1.132 |
1.135 |
|
(e)
Short-term loans and advances |
0.210 |
0.000 |
0.000 |
|
(f)
Other current assets |
21.795 |
0.432 |
0.000 |
|
Total
Current Assets |
29.924 |
1.564 |
1.135 |
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TOTAL |
33.163 |
1.564 |
1.561 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Revenue from Operations |
12.118 |
0.000 |
0.000 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL (A) |
12.118 |
0.000 |
0.000 |
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Less |
EXPENSES |
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Purchases of Stock-in-Trade |
17.234 |
0.000 |
0.000 |
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Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(5.961) |
0.000 |
0.000 |
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Employees benefits expense |
0.140 |
0.000 |
0.000 |
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Other expenses |
0.558 |
0.000 |
0.000 |
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TOTAL (B) |
11.971 |
0.000 |
0.000 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.147 |
0.000 |
0.000 |
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Less |
FINANCIAL
EXPENSES (D) |
0.002 |
0.000 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.145 |
0.000 |
0.000 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.032 |
0.000 |
0.000 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.113 |
0.000 |
0.000 |
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Less |
TAX (H) |
0.037 |
0.000 |
0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
0.076 |
0.000 |
0.000 |
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Earnings Per
Share (Rs.) |
1.51 |
0.00 |
0.00 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.63 |
0.00 |
0.00 |
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Operating Profit Margin (PBDIT/Sales) |
(%) |
1.21 |
0.00 |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.34 |
0.00 |
0.00 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.00 |
0.00 |
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Debt Equity Ratio (Total Debt/Networth) |
|
0.15 |
0.09 |
0.09 |
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Current Ratio (Current Asset/Current Liability) |
|
0.95 |
120.31 |
113.50 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.076 |
|
Share Application money pending allotment |
0.926 |
0.926 |
0.926 |
|
Net
worth |
1.426 |
1.426 |
1.502 |
|
|
|
|
|
|
Long-term borrowings |
0.125 |
0.125 |
0.225 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.125 |
0.125 |
0.225 |
|
Debt/Equity ratio |
0.088 |
0.088 |
0.150 |
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 |
No |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
|
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 |
No |
|
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: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other Loans and Liabilities |
0.225 |
0.125 |
|
|
|
|
|
Total |
0.225 |
0.125 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 2112/13A, New
Bombay Market, Umarwada, Sahara Darwaja, Surat - 395006, Gujarat, India to the
present address w.e.f.01.08.2012.
FIXED ASSETS:
· Land
Factory
Building
Plant
and Machinery
Furniture
and Fixture
Vehicles
Office
Equipment
Leasehold
Improvement
Computer
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. 62.14 |
|
|
1 |
Rs. 95.78 |
|
Euro |
1 |
Rs. 71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAN |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--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 |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.