%20PRIVATE%20LIMITED%2009-Jun-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
09.06.2007 |
IDENTIFICATION DETAILS
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Name : |
PREMIER POWER PRODUCTS ( |
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Registered Office : |
8/2, B B D Bag East, Kolkata-700001, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.08.1988 |
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Com. Reg. No.: |
44894 |
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CIN No.: [Company
Identification No.] |
U27105WB1988PTC044894 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALP02728F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Electrical Machinery. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 27000 |
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Status : |
Small company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fai. Business is active. Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
8/2, B B D Bag East, Kolkata-700001, West Bengal, |
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Tel. No.: |
91-33-2101915/ 2436624/ 2437262 |
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Fax No.: |
91-33-2434078 |
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E-Mail : |
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Website : |
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Factory 1 : |
Jalan Industrial Estate, NH-6, Village Jangal Pore, P O Andul Mouri,
Hawrah, West Bengal, India |
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Tel. No.: |
91-33-6699647 |
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Branches : |
Located at : Pune |
DIRECTORS
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Name : |
Mr. Dharmendra Kumar Daga |
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Designation : |
Director |
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Address : |
36/1, |
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Date of Birth/Age : |
23.10.1963 |
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Date of Appointment : |
01.08.1988 |
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Name : |
Mrs. Kumkum Devi Daga |
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Designation : |
Director |
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Address : |
36/1, |
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Date of Birth/Age : |
07.03.1965 |
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Date of Appointment : |
30.07.1996 |
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Name : |
Mr. Manick Chand Daga |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Dharmendra Kumar Daga |
7950 |
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Mrs. Kumkum Daga |
6450 |
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Mr. Hemant Kumar Daga |
3700 |
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Mr. Virendra Kumar Daga |
3000 |
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Dharmedra Kumar Daga (HUF) |
2500 |
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PLB Financial Services Limited |
5000 |
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Onkar Shankar Trading Private Limited |
11000 |
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Mr. Mahabir Prasad Baberwal |
6000 |
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Mr. Rakesh Kumar Bararia |
1000 |
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Mr. Raj Kumar Mahatma |
2400 |
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Mr. Bajranglal Nahata |
2000 |
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Mr. Babulal Dugar |
1000 |
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Mr. Nandlal Mahatma |
1500 |
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Mr. Shanti Kumar Dugar |
1500 |
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Mrs. Saroj Devi Baid |
2500 |
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Mr. Vishwanatha Kandoi |
2500 |
As on 31.03.2006
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Names of Shareholders |
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Percentage of
Holding |
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Bodies Corporate |
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27.00 |
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Directors or their relatives |
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73.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Electrical Machinery. |
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Products : |
v
Cable Tray Accessories v Cable Trays v Cable Duct v Cable Gland v Conduit Pipes v Earthing Electrodes and GI Earthing Strips |
GENERAL INFORMATION
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Customers : |
v
Alsthom
Power Boilers Limited v
Andrew Yule
& Company Limited v
Asea Brown
Boveri Limited v
Barc (Dept.
Of Atomic Energy) v
Besco
Limited v
Best &
Crompton Limited v
Bharat
Heavy Electricals Limited v
Bharat
Heavy Plates & Vessels Limited v
Bihar
Sponge Iron Limited v
Bhusan
Limited v
Birla Tyres
Limited v
Blue Star
Limited v
Boc India
Limited v
Bses
Limited v
Burn
Standard Co Limited v
Crompton
Greaves Limited v
Engineering
Projects ( v
Ferro
Alloys Corporation Limited v
Gas
Authority Of India Limited v
Geo Miller
& Company Limited v
Hindustan
Zinc Limited v
Hindustan
Gas & Industries Limited v
Hindusthan
National Glass Limited v
Hyderabad
Industries Limited v
Indian
Aluminium Company Limited v
Indian Rare
Earths Limited v
Instrumentation
Limited v
Jasubhai
Engineering Limited v
Jindal
Steel & Power Limited v
Kanoria
Chem & Industries Limited v
Kirloskar
Electric Company Limited v
Kirloskar
Brothers Limited (Pune) v
N.T.P.C
Limited v
Larsen
& Tourbo Limited (Cal & v
Nava Bharat
Ferro Alloys Limited v
Nicco
Projects Limited v
Otto India
Limited v
Philips
Carbon Black Limited v
Punj Llyod
Limited v
Rajasthan
Rajya Vidyut Utpadan Nigam v
Sail (Rsp
& Dap) v
Siemens
India Limited v
Samar
Industrial System Limited v
Simplex
Engineering & Foundry Works v
Thermax
Limited v
The
Associated Cement Companies Limited v
Tata
Honeywell Limited v
Voltas
Limited v
Usha Martin
Industries Limited v
Wesman
Engineering Company Limited v
Wellman
Incandescent India Limited v
Yokogawa
Blue Star Limited v
Loi
Thermprocess Gmbh v
Indian Oil
Corpn. Limited v
Iapl v
Ge Power
Controls (I) Private Limited |
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Bankers : |
Canara Bank, 2, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K S Nahata & Company Chartered Accountants |
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Address : |
16, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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60000 |
Equity Shares |
Rs.100/-
each |
Rs.6.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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6.000 |
3.700 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.891 |
0.653 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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6.891 |
4.353 |
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LOAN FUNDS |
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1] Secured Loans |
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2.657 |
1.983 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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2.657 |
1.983 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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9.548 |
6.336 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.801 |
3.255 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.517 |
0.926 |
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Sundry Debtors |
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17.895 |
14.247 |
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Cash & Bank Balances |
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7.843 |
1.874 |
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Other Current Assets |
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0.951 |
0.703 |
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Loans & Advances |
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0.972 |
0.714 |
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Total
Current Assets |
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29.178 |
18.464 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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22.311 |
15.292 |
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Provisions |
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0.120 |
0.091 |
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Total
Current Liabilities |
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22.431 |
15.383 |
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Net Current Assets |
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6.747 |
3.081 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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9.548 |
6.336 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 (Estimated) |
31.03.2005 (Estimated) |
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Total Income |
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20.000 |
15.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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3.64 |
3.99 |
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Current Ratio (Current Asset/Current Liability) |
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1.30 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
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Name of the company |
PREMIER POWER
PRODUCTS ( |
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Presented By |
CANARA BANK 2, |
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1) Date and description of instrument creating the change |
Hypothecation agreement of goods and book debts (For DALC/DPG/ Guarantees) dated 02.03.2005. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Overall limit : Rs.0.146 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Nature of facility : Bank guarantee : The borrower hereby hypothecates all goods and commodities purchased acquired received under the said credit facilities particulars whereof will be furnished from time to time which is stored at the Borrower’s godowns, yards and premises or lying at any other place or wheresoever including al the book debts outstanding moneys receivable claims and bills arising out of the sale disposal of the goods received under the said credit which are now due and owing and which may at ay time during the continuance fo this security becomes due aby any person, firm, company or by the government or any local body or authority. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The borrower shall pay interest @ 14.25% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, 2, Koilkata-700001 |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
Website Details :
Subject is a manufacturing company limited by shares and managed by
board of directors. They were established in 1988 as a manufacturing unit for
Electrical items like GI Cable Trays, Glands, Lugs, Earthing Electrodes etc.
required by projects. For the past 25 years their group has been associated
with various prestigious projects with respect of designing, manufacturing and
supplying the items regularly to the leading public sector undertakings as well
as industrial houses all over
They manufacture various types of electrical equipments these equipments
are engineered by qualified technocrats and are mainly required for the Turnkey
projects in the Public & Private Sectors.
Their products are approved by reputed consultants like MECON, M N
Dastur & Company, DCPL, PDIL, Lurgi
After Sales Service:- It is readily available. Problems if any during
and after installation are promptly attended too.
Assembly and Storage:- Abundant space and logical storage
facilities ensure smooth handling of the finished products which are carefully
packed in hard cardboard boxes.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.98 |
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1 |
Rs.80.98 |
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Euro |
1 |
Rs.54.99 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
YES |
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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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34 |
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
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RATING |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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