MIRA INFORM REPORT
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Report Date : |
16th January 2006 |
IDENTIFICATION DETAILS
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Name : |
PUNJAB CROCKERY HOUSE
PRIVATE LIMITED |
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Registered Office : |
5-9-22/2, Adarshnagar,
Hyderabad – 500063, Andhra Pradesh, India. |
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Date of Incorporation : |
19.04.1995 |
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Com. Reg. No.: |
01-20044 |
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Legal Form : |
Subject is a private
limited liability company. |
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Line of Business : |
Trader and Dealer of
Glassware, Crockery, Cutlery, Electronics, Electrical & Home Appliances. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
Usd 22500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Directors are reported
as experienced, respectable and resourceful
businessmen. Their trade relations are fair. Payment are usually
correct and as per commitments. The
company can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
5-9-22/2, Adarshnagar,
Hyderabad – 500063, Andhra Pradesh, India. |
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Tel. No.: |
91-40-23234845 |
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Fax No.: |
91-40-23240489 |
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E-Mail : |
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Corporate Office : |
5-9-115/A,
Kanchanjunga Complex, Gunfoundry, Hyderabad – 500001, Andhra Pradesh, India |
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Tel. No.: |
91-40-23240489/
90/ 93 |
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Fax No.: |
91-40-23240489 |
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E-Mail : |
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Show Room: |
¯
5-9-232, Opp. Gramer
Scchool, Abidroad, Hydrabad – 500001, Andhra Pradesh, India Tel.
No. 91-40-23203674, 23203962 ¯
PCHE Zone 16-2-674/2, Spectrum
Square, Malakpet, Hyderabad – 500036, Andhra Pradesh, India. Tel.
No. 91-40-24540567, 24550013, 24551408 ¯
10-3-305/A, Near NMDC,
Masabtank Road, Humayunnagar, Hyderabad – 500028, Andhra Pradesh. Tel.
No. 91-40-23593282, 23593283 ¯
6-3-648, Padmaja Land
Mark, Adj. RTA Office, Somajiguda, Hyderabad- 500082, Andhra Pradesh, India. Tel.
No. 91-40-23374044, 23374045/ 46 |
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Branches : |
29-02-50, Ram Mandiram
Street, Governorpet, Vijayawada – 520001, Andhra Pradesh, India. |
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Tel. No.: |
91-866-2432558 |
DIRECTORS
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Name : |
Mr. Sardar Huzur Singh |
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Designation : |
Chairman
& M. D. |
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Name : |
Mr. Sardar Surinder Singh |
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Designation : |
Director |
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Name : |
Mr. Sardar Balwinder Singh |
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Designation : |
Director
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BUSINESS DETAILS
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Line of Business : |
Trader and Dealer of
Glassware, Crockery, Cutlery, Electronics, Electrical & Home Appliances. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
About
25 Persons |
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Bankers : |
Ø
ICICI Bank Ø
ABN Amro Bank Ø
Bank of India Nampally Branch, Hyderabad, Andhra Pradesh, India |
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Facilities : |
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Banking Relations : |
Satisfactory
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Auditors : |
M. A. Mohiaddin &
Company Chartered Accountants 307, Lenanine Estate Abid
Road, Hyderabad – 500001, Andhra Pradesh, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity
Shares |
Rs.100 each |
5.000 million |
Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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40000 |
Equity
Shares |
Rs.100 each |
4.000 million |
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Share
Advance |
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0.450 million |
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Total |
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4.450 million |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.450 |
4.450 |
4.450 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.435 |
1.241 |
1.089 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
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5.885 |
5.691 |
5.539 |
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LOAN FUNDS |
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1] Secured Loans |
11.938 |
11.429 |
11.210 |
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2] Unsecured Loans |
2.378 |
2.786 |
1.587 |
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TOTAL
BORROWING
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14.316 |
14.215 |
12.797 |
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DEFERRED TAX LIABILITIES |
0.094 |
0.038 |
0.000 |
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TOTAL
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20.295 |
19.944 |
18.336 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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2.933 |
2.054 |
1.898 |
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Capital work-in-progress
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0.000 |
0.000 |
0.000 |
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INVESTMENT
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0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS
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0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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0.000
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0.000 |
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Sundry Debtors
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0.000
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0.000 |
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Cash & Bank Balances
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0.000
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0.000 |
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Other Current Assets
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33.756 |
24.366 |
25.347 |
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Loans & Advances
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0.769 |
1.145 |
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Total Current Assets
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34.525
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25.511 |
25.347 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities & Provisions
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17.181 |
7.644 |
8.935 |
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Total Current Liabilities
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17.181 |
7.644 |
8.935 |
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Net Current
Assets
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17.343 |
17.867 |
16.413 |
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MISCELLANEOUS EXPENSES
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0.019 |
0.023 |
0.026 |
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TOTAL
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20.295 |
19.944 |
18.336 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
Sales Turnover [including other income]
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58.352 |
54.126 |
77.566 |
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Profit/(Loss) Before Tax
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0.303 |
0.239 |
0.203 |
Provision for Taxation
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(0.053) |
(0.050) |
0.180 |
Profit/(Loss) After Tax
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0.250 |
0.189 |
0.023 |
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Total Expenditure
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58.049 |
53.887 |
77.136 |
KEY RATIOS
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PARTICULARS |
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31.03.2004 |
31.03.2003 |
31.03.2002 |
PAT / Total Income
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(%)
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0.428
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0.349 |
0.029 |
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Net Profit Margin
(PBT/Sales) |
(%) |
0.519
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0.441 |
0.262 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
0.809
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0.867 |
0.745 |
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Return on Investment (ROI)
(PBT/Networth) |
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0.051
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0.042 |
0.036 |
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Debt Equity Ratio
(Total Liability/Networth) |
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2.919
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1.343 |
1.613 |
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Current Ratio
(Current Asset/Current
Liability) |
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2.009
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3.337 |
2.837 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
Air Conditioner
Vehicles
Furniture and Fittings
Fan
Motor Cycle
Computer
Xerox Machines
Cycle
Generator
Van
Auto
Director
Reports:
The
Turnover of the Company has increased to Rs.52.254 million during the year as
against Rs.48.738 millions in the previous year. The Net profit for the year is
Rs.0.303 million against Rs.0.239
million of last year. The provision for Income-Tax has been made after
considering Depreciation as per Income Tax Act 1961. Inspite of heavy
competition in household appliances, the company has achieved a reasonable
Turnover and the company is the Authorised distributors for only reputed
branded products and there is bright scope for improving the business in the
coming years.
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
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Indian Rupees |
|
US
Dollar |
1 |
Rs.44.31 |
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UK
Pound |
1 |
Rs.78.30 |
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Euro |
1 |
Rs.53.73 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
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
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STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability to
overcome financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |