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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

499170

Report Date :

22.03.2018

 

 

 

 

IDENTIFICATION DETAILS

 

Name :

SATVIK TECHZONE PRIVATE LIMITED        

 

 

Registered Office :

Plot No. 384, Pace City -II, Sector - 37, Gurugram - 122001, Haryana

Tel. No.:

91-11-28758500

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

15.05.2015

 

 

Com. Reg. No.:

05-055450

 

 

Capital Investment / Paid-up Capital :

INR 0.100  Million

 

 

CIN No.:

[Company Identification No.]

U74140HR2015PTC055450

 

 

IEC No.:

[Import-Export Code No.]

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAVCS7741L

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into the business of Manufacturing of Plastic and Engineering Products. [Registered Activity]

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Maximum Credit Limit :

USD 4000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2015 and it is having moderate track records.

 

For the financial year 2017, the company has increased in its revenue from operations as compared to previous year and maintained average profitability margin of 1.36%.

 

However, rating takes into consideration moderate financial profile of the company along with low networth position.

 

Further, rating constrained on account of short track records of business operation and intense competition from industry.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct.

 

In view of aforesaid, 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.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

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

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 22.03.2018.

 

 

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.

 

 

LOCATIONS

 

Registered Office/ Factory :

Plot No. 384, Pace City -II, Sector - 37, Gurugram - 122001, Haryana, India

Tel. No.:

91-11-28758500

Fax No.:

Not Available

E-Mail :

sanjaywadhwa001@hotmail.com

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Ms. Sangita Saini

Designation :

Director

Address :

H. No. 571, Sector 10A, Village Kadipur, Tehsil – Gurugram-122001, Haryana, India 

Date of Birth/Age :

01.10.1966

Date of Appointment :

15.05.2015

DIN No.:

01860732

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U25209DL1998PTC097715

SUKU PLASTICS PRIVATE LIMITED

30/12/1998

-

 

 

Name :

Mr. Rajender Kumar Saini

Designation :

Director

Address :

H. No. 571, Sector 10A, Village Kadipur, Tehsil – Gurugram-122001, Haryana, India 

Date of Birth/Age :

31.05.1963

Date of Appointment :

01945160

DIN No.:

01945160

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U25209DL1998PTC097715

SUKU PLASTICS PRIVATE LIMITED

30/12/1998

-

 


 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2017

 

Names of Shareholders

No. of Shares

Percentage

Rajender Kumar Saini

5000

50.00

Sangita Saini

5000

50.00

Total

10000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2017

 

Category

Percentage

Promoter – (Individual/ Hindu Undivided Family – Indian)

100.00

Total

100.00

 


 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into the business of Manufacturing of Plastic and Engineering Products. [Registered Activity]

 

 

Products :

Item Code No.

Product Description

99885200

Plastic product manufacturing services

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Laxmi Associates

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

  • Bansali Engineering Polymers Limited
  • D.R. Polymers Limited
  • D.R. International (P) Limited
  • Dipika Polymers Private Limited
  • Delta Packaging
  • Dev Enterprises
  • Fabro Engineers

 

 

Customers :

 

Reference :

Denso Haryana Private Limited

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

  • INS Instrument Limited
  • Pricol Limited

 

 

No. of Employees :

Not Available

 

 

Bankers :

Bank Name

Not Available

Branch

--

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

 

 

Auditors :

 

Name :

Navneet Goel and Company

Chartered Accountants

Address :

206, Suchit Chamber – 1224/5, Naiwala, Karol Bagh, New Delhi – 110005, India

Mobile No.:

91-9868532948

E-Mail :

mandal_ramakant@yahoo.com

PAN No.:

AAAFN5978J

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 


 

CAPITAL STRUCTURE

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

450000

Equity Shares

INR 10/- each

INR 4.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

INR 10/- each

INR 0.100 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

0.100

0.100

(b) Reserves & Surplus

 

1.591

0.280

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

1.691

0.380

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.103

(c) Other long term liabilities

 

6.781

1.761

(d) long-term provisions

 

0.000

0.000

Total Non-current Liabilities (3)

 

6.781

1.864

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

6.085

3.881

(b) Trade payables

 

15.628

4.486

(c) Other current liabilities

 

0.295

0.275

(d) Short-term provisions

 

0.401

1.079

Total Current Liabilities (4)

 

22.409

9.721

 

 

 

 

TOTAL

 

30.881

11.965

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

8.445

9.697

(ii) Intangible Assets

 

0.000

0.000

(iii) Capital work-in-progress

 

0.000

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

0.035

0.000

(d)  Long-term Loan and Advances

 

0.000

0.000

(e) Other Non-current assets

 

0.000

0.000

Total Non-Current Assets

 

8.480

9.697

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.908

0.000

(b) Inventories

 

1.325

0.112

(c) Trade receivables

 

18.725

1.287

(d) Cash and cash equivalents

 

0.768

0.047

(e) Short-term loans and advances

 

0.675

0.822

(f) Other current assets

 

0.000

0.000

Total Current Assets

 

22.401

2.268

 

 

 

 

TOTAL

 

30.881

11.965

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

102.562

7.491

 

Other Income

 

0.000

0.000

 

TOTAL

 

102.562

7.491

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

84.455

4.813

 

Employees benefits expense

 

4.436

1.068

 

Other expenses

 

9.366

0.751

 

TOTAL

 

98.257

6.632

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

4.305

0.859

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

0.342

0.051

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

3.963

0.808

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

 

1.955

0.425

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

2.008

0.383

 

 

 

 

 

Less

TAX

 

0.615

0.103

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

1.393

0.280

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 139.30

 --

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

31.03.2017

31.03.2016

Current Maturities of Long term debt

 

NA

NA

Cash generated from operations

 

NA

NA

Net cash flow from operating activity

 

NA

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

Average Collection Days

(Sundry Debtors / Income * 365 Days)

 

66.64

62.71

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

 

5.48

5.82

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

 

67.54

340.20

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

 

3.25

7.67

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

 

0.51

0.09

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

 

 

0.81

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

 

3.60

10.21

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

 

13.25

25.58

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

 

4.99

25.52

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

 

12.59

16.84

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

 

31.03.2017

31.03.2016

Net Profit Margin

((PAT / Sales) * 100)

%

 

1.36

3.74

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

 

4.51

2.34

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

 

82.38

73.68

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

Current Ratio

(Current Assets / Current Liabilities)

 

1.00

0.23

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

 

0.94

0.22

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

 

0.05

0.03

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

 

60.85

38.81

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

 

1.00

0.23

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 


 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2016

31.03.2017

 

INR In Million

INR In Million

Share Capital

0.100

0.100

Reserves & Surplus

0.280

1.591

Share Application money pending allotment

0.000

0.000

Net worth

0.380

1.691

 

 

 

long-term borrowings

0.000

0.000

Short term borrowings

3.881

6.085

Total borrowings

3.881

6.085

Debt/Equity ratio

10.213

3.598

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2016

31.03.2017

 

INR In Million

INR In Million

Sales

7.491

102.562

 

 

1,269.136

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2016

31.03.2017

 

INR In Million

INR In Million

Sales

7.491

102.562

Profit

0.280

1.393

 

3.74%

1.36%

 

 

 

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

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

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)

No

16

No. of employees

No

17

Details of sister concerns

No

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

Yes

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

No

29

Profitability for last two years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Director loan – R. K. Saini

5.622

3.881

Director loan – Sangeeta Saini

0.463

0.000

 

 

 

Total

6.085

3.881

 

 

INDEX OF CHARGES:

 

Charges Registered

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G43050400

100095295

21/04/2017

-

-

1786657.0

Branch office-Ground Floor, Tower B, JIL BuildingPlot No 78, Near SBI Academy, Sector 18,GurgaonHR122015IN

2

G43049709

100095291

30/03/2017

-

-

2122875.0

Branch office-Ground Floor, Tower B, JIL BuildingPlot No 78, Near SBI Academy, Sector 18,GurgaonHR122015IN

 

 

FIXED ASSETS

 

  • Office Equipment
  • Furniture and Fittings
  • Plant and Machinery
  • Air Conditioner
  • Printer
  • Water Cooler

 

 

 


 

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 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

INR

US Dollar

1

INR 65.22

UK Pound

1

INR 91.33

Euro

1

INR 79.96

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

JYO


 

SCORE FACTORS

 

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

NO

--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)

 

 

 

 

 

 

 

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.