|
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|
MIRA INFORM REPORT
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Report No. : |
483082 |
|
Report Date : |
01.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SIDDHIVINAYAK ENGINEERING |
|
|
|
|
Registered
Office : |
R. No 1, Ground Floor, Bacchu Singh Chawl, G. D. Ambekar Marg, Kalachoki, Mumbai-400033, Maharashtra |
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Mobile No.: |
91-9987002295 [Mr. Ashish] |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Establishment : |
01.04.2007 |
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Capital
Investment : |
INR 42.431 Million |
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|
|
|
IEC No.: |
Not Applicable [As informed by the management that firm does
not have export and import] |
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|
|
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GST No.: |
27BAIPS0344G1ZP |
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|
|
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TIN No.: |
27590546655 |
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PAN No.: [Permanent Account No.] |
BAIPS0344G |
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|
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Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Manufacturer of Trailer. (Confirmed by Management) |
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No. of Employees
: |
50 [Approximately] [At Location] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Siddhivinayak Engineering is a proprietorship firm established in the year 2007. It is engaged in manufacturing of Trailer. For the financial year 2017, the firm has reported decline in its revenue as compared to previous year but has managed to maintain low profit margin of 0.66%. The satisfactory financial profile of the firm is marked by sufficient capital base along with negligible debt level. Furthermore, we have received satisfactory feedback from its Customer (Bafna Automotive and Aaryan Carriers and Movers Private Limited) and claimed that they are satisfied with subject’s product quality and delivery. Business is active. Payments seems to be usually correct. In view of aforesaid, the firm can be considered for business dealings at usual trade terms and conditions. Note: Site Visit was conducted at the given address and our executive has successfully traced the subject on the given address. At the premises our executive met Mr. Kachan (Accountant) and he confirmed that subject is situated at the given address. As per our executive’s observation, it is a 1 storey building and subject situated on the ground floor. Location was easy to find and locality appears to be residential. Area seems to be upmarket. Total area of premises is 200 (sq. ft.) and 04 employee were sighted at the premises. Name board of the subject was not sighted. |
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 01.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Ashish |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9987002295 |
|
Date : |
30.01.2018 |
LOCATIONS
|
Registered Office : |
R. No 1, Ground Floor, Bacchu Singh Chawl, G. D. Ambekar Marg, Kalachoki, Mumbai-400033, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9987002295 [Mr. Ashish] |
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Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
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|
Area : |
300 Sq. Ft. |
|
Location : |
Owned |
|
Locality : |
Residential |
|
|
|
|
Factory : |
Sr No 182, At Post- Shirdon, Taluka- Panvel, District- Raigad, Maharashtra, India |
|
Area : |
15000 Sq. Ft. |
|
Location : |
Owned |
|
Locality : |
Industrial |
SOLE PROPRIETOR
|
Name : |
Mr. Swapnil Atmaram Sawardekar |
|
Designation : |
Proprietor |
|
Address : |
Flat No. B-505, K.K. Tower, G. D. Ambekar Marg, Parel, Mumbai-400012, Maharashtra, India |
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Date of Birth/Age : |
30.09.1984 |
|
Qualification : |
B. Com |
|
Experience : |
15 Years |
|
Passport No : |
K3097167 |
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PAN No. : |
BAIPS0344G |
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Aadhar No : |
758844712220 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish |
|
Designation : |
Chartered Accountant |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Trailer. (Confirmed by Management) |
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|
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Products/ Services : |
Trailer |
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|
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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 : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Credit (90 Days) |
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Purchasing : |
Credit (30 Days) |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Transportation Industry
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No. of Employees : |
50 [Approximately] [At Location] |
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Bankers : |
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Facilities : |
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Auditors : |
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|||
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Name : |
Bhatter and Paliwal Chartered Accountants |
|||
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Address : |
212, 2nd Floor, Kimatrai Building, 77-79, Maharshi Karve Marg, Marine Lines, Mumbai-400002, Maharashtra, India |
|||
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Tel. No.: |
91-22-22064723 |
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Fax. No.: |
91-22-22093317 |
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E-Mail : |
||||
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
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CAPITAL STRUCTURE
PROPRIETOR
CAPITAL ACCOUNT AS ON 31.03.2017
|
PARTICULARS |
INR IN MILLION |
|
PROPRIETOR’S CAPITAL |
|
|
Opening Balance |
9.260 |
|
Add: Capital Introduced During the Year |
38.685 |
|
Add: Profit Transfer During the Year |
2.288 |
|
|
----------- |
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Total |
50.233 |
|
|
|
|
Less: Withdrawal During the Year |
(7.802) |
|
|
----------- |
|
Closing Balance |
42.431 |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor Capital Account |
42.431 |
9.260 |
8.012 |
|
|
2] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
42.431 |
9.260 |
8.012 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
20.739 |
31.231 |
38.885 |
|
|
2] Unsecured Loans |
35.986 |
2.541 |
4.922 |
|
|
TOTAL BORROWING |
56.725 |
33.772 |
43.807 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
99.156 |
43.032 |
51.819 |
|
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APPLICATION OF
FUNDS |
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|
|
|
|
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|
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FIXED ASSETS [Net Block] |
32.897 |
36.629 |
37.665 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
161.995
|
117.537
|
86.787
|
|
|
Sundry Debtors |
35.043
|
20.707
|
43.930
|
|
|
Cash & Bank Balances |
0.774
|
0.742
|
4.398
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
27.971
|
22.120
|
21.489
|
|
Total
Current Assets |
225.783
|
161.106
|
156.604
|
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
102.469
|
78.064
|
75.841
|
|
|
Other Current Liabilities |
57.055
|
76.639
|
65.366
|
|
|
Provisions |
0.000
|
0.000
|
1.243
|
|
Total
Current Liabilities |
159.524
|
154.703
|
142.450
|
|
|
Net Current Assets |
66.259
|
6.403
|
14.154
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
99.156 |
43.032 |
51.819 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
347.439 |
412.061 |
418.429 |
|
|
|
Other Income |
0.943 |
0.881 |
0.080 |
|
|
|
TOTAL |
348.382 |
412.942 |
418.509 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and other direct expenses |
373.021 |
428.294 |
388.901 |
|
|
|
Increase/(Decrease) in stock |
(44.458) |
(30.750) |
4.735 |
|
|
|
Employee Benefit Expenses |
2.325 |
2.564 |
0.000 |
|
|
|
Administrative and other expenses |
3.149 |
5.839 |
7.651 |
|
|
|
TOTAL |
334.037 |
405.947 |
401.287 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
14.345 |
6.995 |
17.222 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.969 |
3.454 |
5.983 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.376 |
3.541 |
11.239 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.088 |
2.857 |
3.141 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2.288 |
0.684 |
8.098 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2.288 |
0.684 |
8.098 |
|
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
36.81 |
18.34 |
38.32 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
9.91 |
19.90 |
9.52 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
100.27 |
66.53 |
71.18 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.09 |
0.06 |
0.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.44 |
0.19 |
0.46 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.84 |
0.95 |
0.96 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.34 |
3.65 |
5.47 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.61 |
16.98 |
18.39 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.78 |
3.96 |
4.70 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.61 |
2.03 |
2.88 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.66 |
0.17 |
1.94 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.88 |
0.35 |
4.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.39 |
7.39 |
101.07 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.15 |
1.02 |
1.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.33 |
0.28 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.16 |
0.05 |
0.04 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.34 |
3.65 |
5.47 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.15 |
1.02 |
1.06 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Proprietor Capital |
8.012 |
9.260 |
42.431 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
8.012 |
9.260 |
42.431 |
|
|
|
|
|
|
Secured Loans |
38.885 |
31.231 |
20.739 |
|
Unsecured Loans |
4.922 |
2.541 |
35.986 |
|
Total
borrowings |
43.807 |
33.772 |
56.725 |
|
Debt/Equity
ratio |
5.468 |
3.647 |
1.337 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
418.429 |
412.061 |
347.439 |
|
|
|
(1.522) |
(15.683) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
418.429 |
412.061 |
347.439 |
|
Profit |
8.098 |
0.684 |
2.288 |
|
|
1.94% |
0.17% |
0.66% |
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 |
Yes |
|
5 |
Buyer visit details |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three 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 |
------------------------------------------------------------------------------------------------------------------------------
OBSERVATION POINTS
|
Name of Company : |
SIDDHIVINAYAK ENGINEERING |
|
|
|
|
Address : |
R. No 1, Ground Floor, Bacchu Singh Chawl, G. D. Ambekar Marg, Kalachoki, Mumbai-400033, Maharashtra, India |
|
|
|
|
Date of Visit : |
28.12.2017 |
|
|
|
|
Person to whom we met: |
Mr. Kachan [Accountant] |
|
|
|
|
Name Board : |
Not Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark (If Any): |
Shivram Seth Govind Lakkha |
|
|
|
|
Total Floors of the Building : |
Ground + First Floor |
|
|
|
|
Subject situated on: |
Ground Floor |
|
|
|
|
Locality: |
Residential |
|
|
|
|
Area of Premises : |
200 Sq. Ft. |
|
|
|
|
Area : |
Upmarket |
|
|
|
|
No. of employees seen at premises: |
04 (Approx.) |
|
|
|
|
Visibility of
Items: |
·
Telephone ·
Computers ·
Office Equipment |
|
|
|
|
Furniture Items
Sighted: |
Table and Chairs |
|
|
|
|
Proof of visit: |
Photos |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
From Relatives |
35.761 |
1.386 |
|
From Others |
0.225 |
1.155 |
|
|
|
|
|
Total |
35.986 |
2.541 |
------------------------------------------------------------------------------------------------------------------------------
BREAK EVEN ANALYSIS
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
||
|
|
Variable % |
2017-2018 Estimated |
2018-2019 Projected |
|
BREAK EVEN POINT |
|
|
|
|
Sales |
|
380.000 |
400.000 |
|
|
|
|
|
|
Variable Cost |
|
|
|
|
i. Raw Material |
100.00% |
250.000 |
296.000 |
|
|
|
|
|
|
ii. Consumables |
100.00% |
70.000 |
75.000 |
|
|
|
|
|
|
iii. Direct
Labour |
60.00% |
4.800 |
5.100 |
|
|
|
|
|
|
iv. Power &
Fuel |
60.00% |
2.100 |
2.280 |
|
|
|
|
|
|
v. Selling Expenses |
10.00% |
--- |
--- |
|
|
|
|
|
|
vi. Other
Variable Costs |
--- |
--- |
--- |
|
|
|
|
|
|
Total Variable Costs |
--- |
326.900 |
378.380 |
|
|
|
|
|
|
Percent of Sales |
--- |
86% |
95% |
|
|
|
|
|
|
Fixed Costs |
--- |
49.542 |
17.570 |
|
|
|
|
|
|
Break Even Level
of Sales |
--- |
354.538 |
325.069 |
|
|
|
|
|
|
Percentage to
Sales |
--- |
93% |
81% |
|
|
|
|
|
|
Cash Break Even of Sales |
--- |
304.444 |
204.810 |
|
|
|
|
|
|
|
--- |
80% |
51% |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENT
OPERATING STATEMENT
(INR IN MILLION)
|
Sr. No. |
PARTICULARS |
OPERATING YEARS |
|
|
|
|
2017-2018 Estimated |
2018-2019 Projected |
|
|
Operating months |
12 |
12 |
|
|
|
|
|
|
|
Operating Statement |
|
|
|
1 |
i. Domestic Sale |
380.000 |
400.000 |
|
|
|
|
|
|
|
ii. Export Sale |
--- |
--- |
|
|
|
|
|
|
1 |
Total Gross Sales |
380.000 |
400.000 |
|
|
|
|
|
|
2 |
Less : Excise
Duty |
--- |
--- |
|
|
|
|
|
|
3 |
Net Sales (1-2) |
380.000 |
400.000 |
|
|
|
|
|
|
4 |
Growth in sales |
9% |
5% |
|
|
|
|
|
|
|
Cost of Sales |
|
|
|
|
|
|
|
|
5 |
a. Raw Material
(Imported ) |
-- |
-- |
|
|
|
|
|
|
|
b. Raw material
(Indigenous) |
250.000 |
296.000 |
|
|
|
|
|
|
|
c. Stores &
Spares (Imported) |
--- |
--- |
|
|
|
|
|
|
|
d. Stores &
Spares (Indigenous) |
70.000 |
75.000 |
|
|
|
|
|
|
6 |
Power & Fuel |
3.500 |
3.800 |
|
|
|
|
|
|
7 |
Direct Labour |
8.000 |
8.500 |
|
|
|
|
|
|
8 |
Repairs and
maintainance |
--- |
--- |
|
|
|
|
|
|
9 |
Other Mfg.
Expenses |
1.500 |
1.800 |
|
|
|
|
|
|
10 |
Depreciation |
7.000 |
6.500 |
|
|
|
|
|
|
11 |
Others expenses |
|
|
|
a |
|
--- |
--- |
|
b |
|
--- |
--- |
|
c |
|
--- |
--- |
|
d |
|
--- |
--- |
|
|
Sub Total |
340.000 |
391.600 |
|
|
|
|
|
|
12 |
Add: Opening
Stock in Process |
116.442 |
87.500 |
|
|
|
|
|
|
|
Sub Total |
456.442 |
479.100 |
|
|
|
|
|
|
13 |
Deduct : Closing
Stock in Process |
87.500 |
95.000 |
|
|
|
|
|
|
|
Cost of Production |
368.942 |
384.100 |
|
|
|
|
|
|
14 |
Add: Opening Stock of Finished Goods |
--- |
--- |
|
|
|
|
|
|
|
Sub Total |
368.942 |
384.100 |
|
|
|
|
|
|
15 |
Deduct : Closing Stock of Finished Goods |
--- |
--- |
|
|
|
|
|
|
|
Sub Total (Total Cost of Sales) |
368.942 |
384.100 |
|
|
|
|
|
|
16 |
Gross profit |
11.058 |
15.900 |
|
|
|
|
|
|
|
Gross Profit/
Sales |
2.91% |
3.98% |
|
|
|
|
|
|
17 |
Selling Expenses |
--- |
--- |
|
|
|
|
|
|
18 |
Administrative
Expenses |
4.000 |
4.500 |
|
|
|
|
|
|
|
Sub Total |
372.942 |
388.600 |
|
|
|
|
|
|
19 |
Operating Profit
before interest |
7.058 |
11.400 |
|
|
|
|
|
|
|
a. Interest on
CC. |
3.500 |
7.350 |
|
|
|
|
|
|
|
b. Interest on TL
|
--- |
--- |
|
|
|
|
|
|
|
c. Other
interests |
--- |
--- |
|
|
|
|
|
|
20 |
Total Interest |
3.500 |
7.350 |
|
|
|
|
|
|
21 |
Operating Profit
after Interest |
3.558 |
4.050 |
|
|
|
|
|
|
22 |
Add: Other non operating Income |
|
|
|
a |
Interest/Dividend/
Royalties etc |
--- |
--- |
|
|
|
|
|
|
b |
Other Income |
--- |
--- |
|
|
|
|
|
|
c |
|
--- |
--- |
|
|
|
|
|
|
d |
|
--- |
--- |
|
|
|
|
|
|
|
Sub Total |
--- |
--- |
|
|
|
|
|
|
23 |
Deduct other non operating expenses |
|
|
|
|
|
|
|
|
a |
Interest/
Dividend/ Royalties etc |
--- |
--- |
|
|
|
|
|
|
b |
Other Expenses |
--- |
--- |
|
|
|
|
|
|
c |
Intangibles
written off -1 |
--- |
--- |
|
|
|
|
|
|
d |
|
--- |
--- |
|
|
|
|
|
|
e |
|
--- |
--- |
|
|
|
|
|
|
|
Sub Total |
--- |
--- |
|
|
|
|
|
|
24 |
Net of other non operating Income/Expenses |
--- |
--- |
|
|
|
|
|
|
25 |
Profit before Tax /Loss (PBT) |
3.558 |
4.050 |
|
|
|
|
|
|
26 |
Provision for
Taxes |
--- |
--- |
|
|
|
|
|
|
27 |
Net Profit/Loss (PAT) |
3.558 |
4.050 |
|
|
|
|
|
|
28 |
Cash Accruals |
10.558 |
10.550 |
|
|
|
|
|
|
29 |
Dividend paid +
IT on Dividend |
3.558 |
--- |
|
|
|
|
|
|
30 |
Retained Profit |
--- |
4.050 |
|
|
|
|
|
|
31 |
Retained Cash
Profits |
7.000 |
10.550 |
|
|
|
|
|
|
32 |
RM Content in
sales |
91% |
91% |
|
|
|
|
|
|
33 |
PBDIT |
14.058 |
17.900 |
|
|
|
|
|
|
34 |
PBDIT/Sales |
3.70% |
4.48% |
|
|
|
|
|
|
35 |
Operating
Profits/Sales |
0.94% |
1.01% |
|
|
|
|
|
|
36 |
PBT/Sales |
0.94% |
1.01% |
|
|
|
|
|
|
37 |
PAT/Sales |
0.94% |
1.01% |
|
|
|
|
|
|
38 |
Cash Accruals/
Sales |
2.78% |
2.64% |
|
|
|
|
|
|
|
Interest on CC. |
3.500 |
7.350 |
|
|
|
|
|
|
|
Interest on TL |
--- |
--- |
|
|
|
|
|
|
|
Other interests |
--- |
--- |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE
SHEET
(INR IN MILLION)
|
Sr. No. |
PARTICULARS |
OPERATING YEARS |
|
|
|
|
2017-2018 Estimated |
2018-2019 Projected |
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
Current Liabilities |
|
|
|
1 |
Short Term loans
from Applicant Bank including BP
&BD |
70.000 |
70.000 |
|
|
|
|
|
|
|
Short Term loans
From Other banks including BP &BD |
--- |
--- |
|
|
|
|
|
|
|
Sub Total (A) |
70.000 |
70.000 |
|
|
|
|
|
|
2 |
Short Term
Borrowings from Others |
--- |
--- |
|
|
|
|
|
|
3 |
Sundry Creditors
(Trade) |
25.000 |
30.000 |
|
|
|
|
|
|
4 |
Advance Payment
from Customers |
20.000 |
20.000 |
|
|
|
|
|
|
5 |
Net Provision for Taxation (if positive) |
--- |
--- |
|
|
|
|
|
|
6 |
Dividend Payable |
--- |
--- |
|
|
|
|
|
|
7 |
Other Statutory Liab. (Due within one Year) |
4.000 |
4.200 |
|
|
|
|
|
|
8 |
Overdue Term
Liabilities |
--- |
--- |
|
|
|
|
|
|
9 |
Installments of
term Loan/ DPGs/ Deposits/ debentures due within next year |
--- |
--- |
|
|
|
|
|
|
10 |
Other Current
Liabilities & Provisions (due within one year) |
0.400 |
0.450 |
|
|
|
|
|
|
a |
Provisions |
--- |
--- |
|
|
|
|
|
|
b |
Sundry Creditors
Expenses |
0.400 |
0.450 |
|
|
|
|
|
|
c |
|
--- |
--- |
|
|
|
|
|
|
d |
|
--- |
--- |
|
|
|
|
|
|
11 |
Sub Total (B) |
49.400 |
54.650 |
|
|
|
|
|
|
12 |
TOTAL CURRENT
LIABILITIES |
119.400 |
124.650 |
|
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
13 |
Debentures (not maturing within one Year) |
--- |
--- |
|
|
|
|
|
|
14 i) |
Preference Shares
(redeemable after 1 year) |
--- |
--- |
|
|
|
|
|
|
14 ii) |
Term Loan from Bank (Less next Year Instalments) |
--- |
--- |
|
|
|
|
|
|
14 iii) |
Term Loan from
Other Banks/Inst. (Ecl. Instalments due next Year) |
--- |
--- |
|
|
|
|
|
|
15 |
Deferred Payments
Credits (Ecl. Instalments due
next Year) |
--- |
--- |
|
|
|
|
|
|
16 |
Term deposits (Ecl. Instalments due next Year) |
--- |
--- |
|
|
|
|
|
|
17 |
Other term
Liabilities |
15.000 |
15.000 |
|
|
|
|
|
|
a |
Unsecured loan
(Quasi capital) |
15.000 |
15.000 |
|
|
|
|
|
|
18 |
TOTAL TERM LIABILITIES |
15.000 |
15.000 |
|
|
|
|
|
|
19 |
TOTAL OF OUTSIDE
LIABILITIES |
134.400 |
139.650 |
|
|
|
|
|
|
|
NET WORTH |
|
|
|
20 |
Share Capital |
42.431 |
42.431 |
|
|
|
|
|
|
21 |
General Reserve |
--- |
--- |
|
|
|
|
|
|
22 |
Revaluation
Reserve |
--- |
--- |
|
|
|
|
|
|
23 |
Adjustments for
previous Year costs |
--- |
--- |
|
|
|
|
|
|
24 |
Other reserves
(excluding Provisions) |
--- |
--- |
|
|
|
|
|
|
25 |
Others |
|
|
|
|
|
|
|
|
a |
|
--- |
--- |
|
|
|
|
|
|
b |
Share Application
Money |
--- |
--- |
|
|
|
|
|
|
c |
Share Premium |
--- |
--- |
|
|
|
|
|
|
26 |
Surplus (+) or deficit (-) in Profit & Loss a/c |
--- |
4.050 |
|
|
|
|
|
|
27 |
NET WORTH |
42.431 |
46.481 |
|
|
|
|
|
|
28 |
TOTAL LIABILITIES (18+24) |
176.831 |
186.131 |
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
Current Assets |
|
|
|
1 |
Cash & Bank
Balances |
0.934 |
1.134 |
|
|
|
|
|
|
2 |
Govt. & other
Trustee securities |
--- |
--- |
|
|
|
|
|
|
3 |
Fixed Deposits
with Banks |
--- |
--- |
|
|
|
|
|
|
4 |
Domestic
Receivables including BP/BD |
25.000 |
27.500 |
|
|
|
|
|
|
5 |
Export
Receivables including BP/BD) |
--- |
--- |
|
|
|
|
|
|
6 |
Deferred
receivables(due within one year) |
--- |
--- |
|
|
|
|
|
|
7 |
Imported Raw
Material |
--- |
--- |
|
|
|
|
|
|
8 |
Indigenous Raw
material |
25.000 |
30.000 |
|
|
|
|
|
|
9 |
Stock in Process |
87.500 |
95.000 |
|
|
|
|
|
|
10 |
Finished Goods |
--- |
--- |
|
|
|
|
|
|
11 |
Imported
Consumables |
--- |
--- |
|
|
|
|
|
|
12 |
Indigenous
consumables |
--- |
--- |
|
|
|
|
|
|
a. |
Packing Material |
--- |
--- |
|
|
|
|
|
|
13 |
Advances to
Suppliers |
0.500 |
0.700 |
|
|
|
|
|
|
14 |
Net Advance
Payment of Taxes (if positive) |
--- |
--- |
|
|
|
|
|
|
15 |
Other Current
Assets (specify major items) |
12.000 |
12.400 |
|
|
|
|
|
|
a |
Adv rec in cash
kind val |
--- |
--- |
|
|
|
|
|
|
b |
Other current
investment |
5.000 |
5.000 |
|
|
|
|
|
|
c |
Adv for exp,
staff, others |
1.000 |
1.200 |
|
|
|
|
|
|
d |
Other Adv (Duties
& Taxes adjustable/Int FDR) |
6.000 |
6.200 |
|
|
|
|
|
|
16 |
TOTAL CURRENT ASSETS |
150.934 |
166.734 |
|
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
17 |
Gross Block (Land
& Building Machinery) |
46.982 |
46.982 |
|
|
|
|
|
|
18 |
Add Capital
expenditure in work-in-process |
--- |
--- |
|
|
|
|
|
|
19 |
Depreciation to
Date |
21.085 |
27.585 |
|
|
|
|
|
|
20 |
Net Block |
25.897 |
19.397 |
|
|
|
|
|
|
21 |
Other Non Current Assets |
|
|
|
a |
Investments in Sub. cos./ affiliates |
--- |
--- |
|
|
|
|
|
|
b |
Investment in Others |
--- |
--- |
|
|
|
|
|
|
c |
Advance to suppliers of Capital goods and |
--- |
--- |
|
|
|
|
|
|
d |
Deferred Receivables (Maturing after a year) |
--- |
--- |
|
|
|
|
|
|
e |
Other Non-current investments |
--- |
--- |
|
|
|
|
|
|
f |
Non consumable Stores and Spares Long outstanding dues and Other non current |
--- |
--- |
|
|
|
|
|
|
g |
Assets/ dues from Directors |
--- |
--- |
|
|
|
|
|
|
h |
Misc. Exp. |
--- |
--- |
|
|
|
|
|
|
i |
Deffered tax
assets |
--- |
--- |
|
|
|
|
|
|
|
TOTAL OTHER NON CURRENT ASSETS |
--- |
--- |
|
|
|
|
|
|
22 |
Intangible Assets |
|
|
|
a |
Preliminary
Expenses |
--- |
--- |
|
|
|
|
|
|
b |
Deffered Revenue
expenditures |
--- |
--- |
|
|
|
|
|
|
c |
Other Intangibles
(patents, goodwill, etc.) |
--- |
--- |
|
|
|
|
|
|
d |
|
--- |
--- |
|
|
|
|
|
|
e |
|
--- |
--- |
|
|
|
|
|
|
23 |
Total Intangible Assets |
--- |
--- |
|
|
|
|
|
|
24 |
TOTAL ASSETS |
176.831 |
186.131 |
|
|
|
|
|
|
49 |
TANGIBLE NET WORTH (TNW) |
42.431 |
46.481 |
|
|
|
|
|
|
50 |
NET WORKING CAPITAL (NWC) |
31.534 |
42.084 |
|
|
|
|
|
|
|
Movement of TNW |
|
|
|
|
Opening TNW |
42.431 |
42.431 |
|
|
|
|
|
|
|
Plough back of
profit |
--- |
4.050 |
|
|
|
|
|
|
|
Increase in
capital/reserves |
--- |
--- |
|
|
|
|
|
|
|
Intangibles
written off |
--- |
--- |
|
|
|
|
|
|
|
Closing TNW |
42.431 |
46.481 |
|
|
|
|
|
|
|
Current Ratio |
1.26 |
1.34 |
|
|
|
|
|
|
|
Debt/Equity |
0.35 |
0.32 |
|
|
|
|
|
|
|
TOL/Equity |
3.17 |
3.00 |
|
|
|
|
|
|
|
Current
Assets/Tangible Assets |
85.35% |
89.58% |
|
|
|
|
|
|
|
ROCE (PBDIT incl.
Other income/TTA) |
0.08 |
0.10 |
|
|
|
|
|
|
|
Inentory+Receivables
as days of Net Sales |
132 |
139 |
------------------------------------------------------------------------------------------------------------------------------
FUNDS FLOW STATEMENT
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
|
|
|
2017-2018 Estimated |
2018-2019 Projected |
|
FUND FLOW ANALYSIS |
|
|
|
|
|
|
|
LONG TERM SOURCES |
|
|
|
Profit after Tax |
3.558 |
4.050 |
|
|
|
|
|
Depreciation |
7.000 |
6.500 |
|
|
|
|
|
Intangibles
written off |
--- |
--- |
|
|
|
|
|
Increase in
capital and reserves |
--- |
--- |
|
|
|
|
|
Increase in Term Liability |
|
|
|
i. Decrease in Fixed Assets |
--- |
--- |
|
|
|
|
|
ii. Decrease in
Other non current assets |
--- |
--- |
|
|
|
|
|
LONG TERM USES |
|
|
|
Net Loss |
--- |
--- |
|
|
|
|
|
Increase in
Intangibles |
--- |
--- |
|
|
|
|
|
Decrease in
Capi.and Reserves/ Share Buybacks |
--- |
--- |
|
|
|
|
|
Decrease in Term
Liabilities |
20.986 |
--- |
|
|
|
|
|
i. Increase in Fixed Assets |
--- |
--- |
|
|
|
|
|
ii. Increase in
non-Current Assets |
--- |
--- |
|
|
|
|
|
iii. Increase in
Intangibles |
--- |
--- |
|
|
|
|
|
Dividend paid |
3.558 |
--- |
|
|
|
|
|
Total |
24.544 |
--- |
|
|
|
|
|
Surplus/ Deficit |
(13.986) |
10.550 |
|
|
|
|
|
Short Term Sources |
|
|
|
Increase in Bank Borrowings |
49.261 |
--- |
|
|
|
|
|
Increase in other
Current Liabilities |
--- |
5.250 |
|
|
|
|
|
Decrease in
Inventory |
49.495 |
--- |
|
|
|
|
|
Decrease in
Receivables |
10.043 |
--- |
|
|
|
|
|
Decrease in
Cash/Deposits/Govt Sec. |
--- |
--- |
|
|
|
|
|
Decrease in Other
Current Assets |
15.471 |
--- |
|
|
|
|
|
Total |
124.270 |
5.250 |
|
|
|
|
|
Short Term Uses |
|
|
|
Increase in
Inventory |
--- |
12.500 |
|
|
|
|
|
Increase in
Receivables |
--- |
2.500 |
|
|
|
|
|
Increase in
Cash/Deposits/Govt Sec. |
0.161 |
0.200 |
|
|
|
|
|
Increase in Other Current Assets |
--- |
0.600 |
|
|
|
|
|
Decrease in Other
Current Liabilities |
110.123 |
--- |
|
|
|
|
|
Decrease in Bank
Borrowings |
--- |
--- |
|
|
|
|
|
Total |
110.284 |
15.800 |
|
|
|
|
|
Summary of fund Flow Analysis |
|
|
|
Long Term Sources |
10.558 |
10.550 |
|
|
|
|
|
Long Term Uses |
24.544 |
---- |
|
|
|
|
|
Surplus /Deficit (i-ii) |
(13.986) |
10.550 |
|
|
|
|
|
Short term
sources |
124.270 |
5.250 |
|
|
|
|
|
Short term uses |
110.284 |
15.800 |
|
|
|
|
|
Surplus /Deficit (iii-iv) |
13.986 |
(10.550) |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STATEMENT OF CURRENT ASSETS
& CURRENT LIABILITIES
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
|
|
|
2017-2018 Estimated |
2018-2019 Projected |
|
WORKING CAPITAL ASSESSMENT |
|
|
|
|
|
|
|
Stock of Imported
RM -Days Consumption |
--- |
--- |
|
|
|
|
|
Stock of
Indiginous RM - Days Consumption |
37 |
37 |
|
|
|
|
|
Imported Consumables
- (Days Consumption) |
--- |
--- |
|
|
|
|
|
Indigenous
Consumables - (Days Consumption) |
--- |
--- |
|
|
|
|
|
Stock in process-
(Days of Cost of Production) |
87 |
90 |
|
|
|
|
|
Finished Goods -
(Days Cost of Sales) |
--- |
--- |
|
|
|
|
|
Total Inventory |
112.500 |
125.000 |
|
|
|
|
|
Total Inventory/Sales (days) |
108 |
114 |
|
|
|
|
|
Domestic
receivables (Days Gross dom. Sales) |
24 |
25 |
|
|
|
|
|
Export
Receivables - (Days Exports) |
--- |
--- |
|
|
|
|
|
Total Receivables |
25.000 |
27.500 |
|
|
|
|
|
Total Receivables/Gross Sales (days) |
24 |
25 |
|
|
|
|
|
Creditors - (days
Consumption) |
29 |
30 |
|
|
|
|
|
Total Current Assets |
150.934 |
166.734 |
|
|
|
|
|
Financed by |
|
|
|
Sundry Cr. % of Current
Assets |
16.56% |
17.99% |
|
|
|
|
|
Other Current
Liabilities % of Current Assets |
16.17% |
14.78% |
|
|
|
|
|
Bank Finance % of
Current Assets |
46.38% |
41.98% |
|
|
|
|
|
NWC % to Current
Assets |
20.89% |
25.24% |
|
|
|
|
|
|
100.00% |
100.00% |
|
|
|
|
|
By PBS Method |
|
|
|
Total Current assets |
150.934 |
166.734 |
|
|
|
|
|
Other Current
Liabilities |
49.400 |
54.650 |
|
|
|
|
|
Working Capital
gap |
101.534 |
112.084 |
|
|
|
|
|
Net Working
capital |
31.534 |
42.084 |
|
|
|
|
|
Bank Finance |
70.000 |
70.000 |
-----------------------------------------------------------------------------------------------------------------------------
RATIO ANALYSIS
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
|
|
|
2017-2018 Estimated |
2018-2019 Projected |
|
RATIOS |
|
|
|
Growth in Sales |
9% |
5% |
|
|
|
|
|
Gross profit Ratio |
2.91% |
3.98% |
|
|
|
|
|
PBDIT |
14.058 |
17.900 |
|
|
|
|
|
PBDIT/sales |
3.70% |
4.48% |
|
|
|
|
|
Operating Profits/Sales |
0.94% |
1.01% |
|
|
|
|
|
PBT/Sales |
0.94% |
1.01% |
|
|
|
|
|
PAT/Sales |
0.94% |
1.01% |
|
|
|
|
|
Cash Accruals/ Sales |
2.78% |
2.64% |
|
|
|
|
|
Sales/Equity |
8.96 |
8.61 |
|
|
|
|
|
Sales / TTA |
2.15 |
2.15 |
|
|
|
|
|
Interest Coverage (Interest/PBDIT) |
49.59% |
64.47% |
|
|
|
|
|
PBDIT / Interest (Times) |
4.02 |
2.44 |
|
|
|
|
|
Deferred Debt/ Equity |
0.35 |
0.32 |
|
|
|
|
|
TOL/Equity |
3.17 |
3.00 |
|
|
|
|
|
Current Ratio (CA / CL) |
1.26 |
1.34 |
|
|
|
|
|
Current Ratio excluding TL Instalments |
1.26 |
1.34 |
|
|
|
|
|
CA / TTA (%) |
85.35% |
89.58% |
|
|
|
|
|
Inentory+Receivables as days of Net Sales |
132 |
139 |
|
|
|
|
|
Bank Borrowings/Current Assets |
46.38% |
41.98% |
|
|
|
|
|
RM content in sales |
91% |
91% |
|
|
|
|
|
ROCE(PBDIT incl. Other income/TTA) |
7.95% |
9.62% |
-----------------------------------------------------------------------------------------------------------------------------
KEY INDICATORS
(INR IN MILLION)
|
PARTICULARS |
OPERATING YEARS |
|
|
|
2017-2018 Estimated |
2018-2019 Projected |
|
|
|
|
|
Net Sales |
380.000 |
400.000 |
|
|
|
|
|
Operating Profit |
3.558 |
4.050 |
|
|
|
|
|
(Net) Other
income |
--- |
--- |
|
|
|
|
|
PBDIT/Sales |
3.70% |
4.48% |
|
|
|
|
|
PBT/Sales |
0.94% |
1.01% |
|
|
|
|
|
PAT |
3.558 |
4.050 |
|
|
|
|
|
PAT/Net Sales |
0.94% |
1.01% |
|
|
|
|
|
Cash Accruals |
10.558 |
10.550 |
|
|
|
|
|
Cash
Accruals/Sales |
2.78% |
2.64% |
|
|
|
|
|
Paid up Capital
(PUC) |
42.431 |
42.431 |
|
|
|
|
|
TNW |
42.431 |
46.481 |
|
|
|
|
|
Adjusted TNW
(TNW-Investment in associates) |
42.431 |
46.481 |
|
|
|
|
|
TOL/TNW |
3.17 |
3.00 |
|
|
|
|
|
TOL/Adjusted TNW |
3.17 |
3.00 |
|
|
|
|
|
C/R |
1.26 |
1.34 |
|
|
|
|
|
C/R excluding T/L
instalments due in 1 year |
1.26 |
1.34 |
|
|
|
|
|
Net Sales/TTA
(Times) |
2.15 |
2.15 |
|
|
|
|
|
PBT/TTA (%) |
2.01% |
2.18% |
|
|
|
|
|
Operating
costs/sales(%) |
99.06% |
98.99% |
|
|
|
|
|
Bank Finance /
Current Assets (%) |
46.38% |
41.98% |
|
|
|
|
|
Inv + Rec. /N.S.
(DAYS) |
132 |
139 |
|
|
|
|
|
NWC / CA (%) |
20.89% |
25.24% |
------------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE
Mr. Swapnil Sawardekar is a proprietor of Siddhivinayak Engineering. The firm was incorporated in the year 2007. The company is engaged in trailer manufacturing activity. Siddhivinayak Engineering has engraved a name for itself in the very niche and specialized sector of Trailer manufacturing. The company is having manufacturing unit at At Post- Shirdon, Taluka- Panvel, District- Raigad. The company manufactures around 400 trailers per annum.
Mr. Swapnil Sawardekar has been supported by his father Mr. Atmaram Sawardekar. Mr. Atmaram Sawardekar aged 65 having experience of more than 35 years in the field of Automotive Body Building. He was partner in Trimurti Enterprises. His brother in laws were other partners in Trimurti Enterprises. M/s Trimurti Enterprises was in Automotive Body Building since last 35 years. Mr. Atmaram Sawardekar was separated from Trimurti Enterprises in 2007 and formed a new proprietorship firm in his son’s name i.e Siddhivinayak Engineering in he year 2017.
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR. SWAPNIL ATMARAM SAWARDEKAR
(INR IN MILLION)
|
Particulars |
FMV (INR IN Million)
|
|
Agriculture land at Shirambe, Sangameshwar |
4.800 |
|
|
|
|
Agriculture land at Chinchwan, Panel |
8.500 |
|
|
|
|
Agriculture land at Govirle-Pen |
3.000 |
|
|
|
|
Agriculture land at Shirdon, Panvel |
11.000 |
|
|
|
|
Agriculture land at Vave-Pen |
3.500 |
|
|
|
|
Jointly owned Duplex residential Flats No. 3202 and 3301, Kingston Tower, G.D. Ambedkar Road, Parel, Mumbai (1/3 share) |
40.000 |
|
|
|
|
Jointly owned residential Flats No. 1802, W54, Next to Ruparel College, Matunga (w), Mumbai (1/3 rd share) |
46.667 |
|
|
|
|
Commercial Gala B-23, Prakash Industrial Estate, T.J. Road, Sewari (w), Mumbai-400 015 |
30.000 |
|
|
|
|
Investment in Sidhivinayak Engineering (Prop. Concern) |
42.431 |
|
|
|
|
Vehicle |
3.000 |
|
|
|
|
Deposits |
1.191 |
|
|
|
|
Loan and advances |
21.535 |
|
|
|
|
Sundry Debtors |
0.229 |
|
|
|
|
Cash and bank |
1.245 |
|
|
|
|
Total [A] |
217.098 |
|
|
|
|
Less: Liabilities |
|
|
DHFL home loan (1/3 share) |
19.200 |
|
|
|
|
Magma home loan (1/3 share) |
13.166 |
|
|
|
|
Mortgage loan from Capital First |
11.060 |
|
|
|
|
Unsecured loan from friends and relatives and vehicle loan |
34.611 |
|
|
|
|
Total [B] |
78.037 |
|
|
|
|
NET WORTH [A-B] |
139.061 |
-----------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
(GENERAL DETAILS)
|
Date on which the valuation is made |
23.10.2017 |
|
|
|
|
Name of the Owners/Sellers & purchasers/ Loaners and his/their
address(es) with Phone number (details of share of each owner in case of
joint ownership) |
Regd. Owners:- Mr. Swapnil Atmaram
Sawardekar Mr. Atmaram Laxman
Sawardekar Ms. Nirmala Atmaram
Sawardekar Flat No. 1802, 18th Floor, “W54” Building, Bal Govinddas Marg, Matunga (W), Mumbai-400 016 |
|
Market value |
INR 145.000 Million
|
|
|
|
|
Realizable/ forced sale value at 90% |
INR 130.500 Million
|
|
|
|
|
Distress sale value at 80% |
INR 116.000 Million
|
|
|
|
|
Construction cost for insurance |
INR 12.500 Million |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
Tangible Assets
·
Plant and Machinery
·
Office Equipment
·
Computer
·
Furniture and Fixtures
· Electrical Installation
·
Motor Car
·
Factory Building and Shed
·
Factory Shed
------------------------------------------------------------------------------------------------------------------------------
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 records 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 |
INR 63.69 |
|
|
1 |
INR 90.35 |
|
Euro |
1 |
INR 79.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial condition covering various ratios
·
Company background and operations size
·
Promoters / Management background
·
Payment record
·
Litigation against the subject
·
Industry scenario / competitor analysis
·
Supplier / Customer / Banker review (wherever
available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.