MIRA INFORM REPORT

 

 

Report No. :

346136

Report Date :

24.10.2015

 

IDENTIFICATION DETAILS

 

Name :

SHIVA ENGINEERING CO.

 

 

Registered Office :

B XV-5656, G.T. Road, Miller Ganj, Ludhiana – 141003, Punjab

Tel. No.:

91-161-5000968

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015 (Profit and Loss Account)

 

 

Year of Establishment :

2009

 

 

Capital Investment :

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

ACCPS7131G

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Trader of Industrial Motor, Generator, Cable and Wire, Gear Boxes, etc.

 

 

No. of Employees :

13 (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

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Shiva engineering Co was established in the year 2009 as a proprietorship concern. It is engaged into trading of Industrial motor, generators, cable and wires etc.

 

Mr. Harpreet Singh, Proprietor of the concern has provided information to us.

 

The rating derive strength from the experience of the proprietor, steady scale-up of operations and established track record of the concern.

 

Trade relations are fair. Business is active. Payment terms are reported as usually correct.

 

The concern can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Harpreet Singh

Designation :

Proprietor

Contact No.:

91-9872988409

Date :

23.10.2015

 

 

LOCATIONS

 

Registered Office :

B XV-56, G.T. Road, Miller Ganj, Ludhiana – 141003, Punjab, India

Tel. No.:

91-161-5000968

Mobile No.:

91-9872988409 (Mr. Harpreet Singh)

Fax No.:

Not Available

E-Mail :

harpreet @shivarngineers.com

 

 

Warehouse :

Plot No. 713, Phase-8, Ludhiana, Punjab, India

 

 

Branch:

Plot 628, Phase – 9, Mohali, Punjab, India

 

 

 

SOLE PROPRIETOR

 

Name :

Mr. Harpreet Singh

Designation :

Proprietor

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Industrial Motor, Generator, Cable and Wire, Gear Boxes, etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cheque and Credit

 

 

Purchasing :

Cheque and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

End Users

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

13 (Approximately)

 

 

Bankers :

Bank Name:

HDFC Bank Limited

Branch:

Dholewal Chowl, Ludhiana, Punjab, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks: Not Divulged

 

Auditors :

 

Name :

Pawan Puri and Associates

Chartered Accountants

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Shiva Sales and Service

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Not Divulged

Borrowed :

Not Divulged

Total :

Not Divulged

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

ABRIDGED BALANCE SHEET

 

NOTE: Mr. Harpeet Singh denied to provide balance sheet copy only provided profit and loss account of the concern.  

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2015

31.03.2014

 

SALES

 

 

 

 

 

Income

 

121.119

90.322

 

 

Other Income

 

0.052

0.000

 

 

TOTAL                                    

 

121.171

90.322

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

 

114.357

85.261

 

 

Freight and Cartage

 

0.706

0.530

 

 

Cartage Outward A/c

 

0.184

0.132

 

 

Electricity Expenses

 

0.127

0.000

 

 

Entertainment Expenses

 

0.046

0.107

 

 

Godown Rent Expenses

 

0.101

0.000

 

 

Hire Charges

 

0.196

0.137

 

 

Interest Unsecured Loans

 

0.504

0.000

 

 

Labour Charges

 

0.093

0.109

 

 

Loading and Unloading Expenses

 

0.190

0.121

 

 

Petrol and Diesel Expenses

 

0.160

0.141

 

 

Salary A/c

 

1.216

1.144

 

 

Tour and Sewerage expenses

 

0.128

0.111

 

 

Other Expenses

 

1.149

1.144

 

 

TOTAL                                    

 

119.157

88.937

 

 

 

 

 

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

2.014

1.385

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

 

0.451

0.455

 

 

 

 

 

 

NET PROFIT

 

1.563

0.930

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

 

31.03.2015

31.03.2014

Net Profit Margin

(PAT / Sales)

(%)

 

1.29

1.03

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

 

1.66

1.53

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

Sales

90.322

121.119

 

 

34.097

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

Sales

90.322

121.119

Net Profit

0.930

1.563

 

1.03%

1.29%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

No

10

Date of Birth of Proprietor / Partners / Directors

No

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

 Yes

24

Capital in the business

No

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last two years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last two years

Yes

30

Major shareholders, if available

No

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.64.88

UK Pound

1

Rs.99.89

Euro

1

Rs.72.06

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUV

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--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

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

 

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

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.