MIRA INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION
DETAILS
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Name : |
PACIFIC EXPORT – DIVISION OF SAMPAT TRADERS PRIVATE LIMITED |
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Registered
Office : |
Room No.: FN – 23, First Floor, 22, Rabindra Sarani, Kolkata – 700073,
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Country : |
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Financials (as
on) : |
31.03.2005 |
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Date of
Incorporation : |
16.12.1983 |
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Com. Reg. No.: |
21-037017 |
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CIN No.: [Company
Identification No.] |
U51109WB1983PTC037017 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
CALS02193C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Traders, Exporters and Importers of Chemicals, Pharmaceuticals, Hard
Ware and Allied items. The concern also trader in import licences |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 70000 |
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Status : |
Good |
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Payment
Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track
records. Trade relations are fair. Financial position is satisfactory.
Payments are reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered/ |
Room No.: FN – 23, First Floor, 22, Rabindra Sarani, Kolkata – 700073,
West |
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Corporate/ Head
Office : |
41/42 |
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Tel. No.: |
91-22-22840390 /486/0487/ 26613306/ 22368576 |
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Mobile No.: |
91-9821133229 |
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Fax No.: |
91-22-22873100 / 22840390 |
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E-Mail.: |
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Website |
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Area : |
457sq. ft. |
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Location : |
Owned |
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Branch Office |
Balaji Silk Complex, |
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Tel .No.: |
91-80-2212391 |
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Area : |
250 Sq. ft |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. B B Chaudhury |
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Designation : |
Managing Director |
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Address: |
102, |
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Date of
Birth/Age : |
05.01.1948 |
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Qualification : |
BA & LLB |
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Experience : |
33 Years |
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Date of
Appointment : |
25.03.1995 |
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Name : |
Ms. Saroj Chodhury |
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Designation : |
Director |
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Address: |
102, |
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Date of
Birth/Age : |
15.07.1948 |
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Qualification : |
B. Com |
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Date of
Appointment : |
01.08.1998 |
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Name : |
Mr. Shyam Sundar Mundhra |
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Designation : |
Director |
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Address: |
958, |
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Date of
Appointment : |
15.02.1992 |
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Date of Ceasing
: |
08.07.1998 |
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Name : |
Mr. Rajat Boobna |
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Designation : |
Director |
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Address: |
3, |
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Date of
Appointment : |
15.02.1992 |
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Date of Ceasing
: |
08.07.1998 |
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Name : |
Mr. Vikas Choudhary |
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Designation : |
Director |
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Address: |
102, Satyam, |
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Date of Birth : |
28.04.1978 |
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Date of
Appointment : |
01.08.1996 |
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Date of Ceasing
: |
06.09.2000 |
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Name : |
Mr. Kamal Singh Kothari |
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Designation : |
Director |
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Address: |
11A, |
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Name : |
Mr. Arun Kumar Kothari |
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Designation : |
Director |
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Address: |
11A, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
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Mr. B P Choudhary |
5000 |
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Mrs. Saroj Choudhary |
32500 |
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Mr. Vikas Choudhary |
6000 |
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Mr. B P Choudhary (HUF) |
6500 |
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Total |
50000 |
All the shares are held by directors and their relatives.
BUSINESS DETAILS
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Line of Business
: |
Traders, Exporters and Importers of Chemicals, Pharmaceuticals, Hard
Ware and Allied items. The concern also trader in import licences |
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Products : |
Chemicals, Pharmaceuticals and Allied items |
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Brand Names : |
Jale |
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Agencies Held : |
v
v
v
v
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Imports from : |
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Terms : |
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Selling : |
Cash & Credit (30 days) |
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Purchasing : |
L/C (90 days) |
GENERAL
INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users v
Alembic Chemical Works Company Limited v
Bajaj Steel Industries v
Bank of Toronto BASF India Limited v
Bhabha Atomic Research Centre v
Bhaktani Builders v
Bharat Earth Movers Limited v
Bharat Heavy Electricals Limited (BHEL)
(Government of India undertaking) v
v
Central Power Research Institute (Government of
India undertaking) v
Central Railway
(Government of v
CIBA CKD Biochem Limited v
v
Coimmand Petroleum v
Crompton Greaves Limited v
Currency Note Press (Government of v
Department of Atomic Energy (Government of India undertaking) v
Director of Technical Education, Karnataka (Government of India undertaking) v
Ganesh Benzoplast Limited v
Godrej & Boyce Manufacturing Company Limited v
Hatti Gold Mines Limited v
Hilton Rubber Limited v
Hindustan Composites Limited v
Hindustan Lever Limited v
Hindustan Motors Limited v
v
Indian Space Research Organisation (Government of v
v
Khandelwal Hermann Electronics Limited v
Larsen and Toubro Limited v
Madras Refineries Limited (Government of India undertaking) v
v
Mahindra & Mahindra Limited v
Mantri Rubber Limited v
Marico Industreis Limited v
Modi Rubber Limited v
Motor Industries Company Limited v
Nagarjuna Fertilisers Limited v
Nagpal Builders v
Nanavati Hospital Neoluxe India Limited v
Nilkamal Plastics Limited v
Nuclear Power Corporation (Government of India undertaking) v
Parle Beverages Private Limited v
Polyolefine Industries Limited v
Ranbaxy Laboratories Limited v
Reliance Industeis Limited v
Sanghvi Writing Instrument Limited v
Shamrao Vithal Co-operative Bank Limited v
Sheth Builders v
Siyaram Silk Mills v
Soutehn Railways
(Government of v
SPIC Organics Limited (Government of India undertaking) v
Steel Authority of India Limited (Government of India undertaking) v
v
Tata Exports Limited v
Tata Pharma Limited v
Tata Telecom v
Telecom Factory, Department of
Telecommunications (Government of
India undertaking) v
Tamilnadu Petro Products Limited (Government of India undertaking) v
Vishakapatnam Steel Plant (Government of |
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Bankers : |
v
Vijaya Bank, Overseas Branch, Nariman Point,
Mumbai – 400021 v
Indian Overseas Bank, Mandvi Branch, Mumbai |
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Facilities : |
Cash Credit Limit- Rs.3.500 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Mr. Vinod Rana & Company Chartered Accountants |
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Address: |
52, 1st Khattar Gali, No.47, 1st Floor, |
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Tel. No.: |
91-22-23896484 |
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Mobile No.: |
91-9322687573 |
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Fax No.: |
91-22-23880951 |
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Associates/Subsidiaries
: |
v
Sun Export (International) Private Limited v
Sun Cleaning and forwarding Services Private Limited
v
Aurovision
v
Sun Export Corporation (Division of Sun Export
International Private Limited) Address: 41/42 Line of Business – Import and Export v
Elan Global (Pacific Export) v
Aurovision Private Limited |
CAPITAL
STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.500
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
18.628 |
16.401 |
15.902 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
19.128 |
16.901 |
16.402 |
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LOAN FUNDS |
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1] Secured Loans |
0.609 |
8.886 |
15.189 |
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2] Unsecured Loans |
6.558 |
5.225 |
4.502 |
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TOTAL BORROWING |
7.167 |
14.111 |
19.691 |
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DEFERRED TAX LIABILITIES |
0.187 |
0.253 |
0.000 |
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TOTAL |
26.482 |
31.265 |
36.093 |
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APPLICATION OF
FUNDS |
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FIXED ASSETS [Net
Block] |
0.741 |
0.914 |
0.931 |
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Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.048 |
0.048 |
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DEFERREX TAX
ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS,
LOANS & ADVANCES |
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Inventories |
27.499
|
25.321 |
19.039 |
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Sundry Debtors |
11.773
|
5.453 |
9.612 |
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Cash & Bank Balances |
2.795
|
4.175 |
3.001 |
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Other Current
Assets |
0.000
|
0.000 |
0.000 |
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Loans &
Advances |
8.603
|
9.837 |
10.231 |
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Total Current Assets |
50.670
|
44.786 |
41.883 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current
Liabilities |
24.480
|
14.317 |
6.661 |
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Provisions |
0.449
|
0.166 |
0.108 |
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Total Current Liabilities |
24.929
|
14.483 |
6.769 |
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Net
Current Assets |
25.741
|
30.303 |
35.114 |
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MISCELLANEOUS
EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
26.482 |
31.265 |
36.093 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover
[including other income] |
33.068 |
33.859 |
50.691 |
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Profit/(Loss) Before Tax |
0.398 |
0.919 |
1.194 |
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Provision for Taxation |
0.345 |
0.175 |
0.092 |
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Profit/(Loss) After Tax |
0.053 |
0.744 |
1.102 |
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Import Value |
11.628 |
18.710 |
20.429 |
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Expenditures : |
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Depreciation |
0.063 |
0.069 |
NA |
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Financial Charges |
0.130 |
0.119 |
NA |
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Other Expenses |
32.284 |
32.564 |
NA |
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Total Expenditure |
32.477 |
32.752 |
49.496 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total
Income |
(%) |
0.16
|
2.19 |
2.17 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.20
|
2.71 |
2.35 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.77
|
2.01 |
2.78 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.05 |
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.68
|
1.69 |
1.61 |
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Current Ratio (Current Asset/Current Liability) |
|
2.03
|
3.09 |
6.18 |
LOCAL
AGENCY FURTHER INFORMATION
Trade
References
C J Shah & Company
Bajaj Bhavan, Nariman Point
Mr. Apoorva Shah
S N S Overseas
7th Floor, Atianta, Nariman Point
Mr. Saresh Deva
Avrtech Marketing
48, Jawahar Industrial Estate, Komothe, Pannvel
Mr. Sunil Newatia
Imports/ Authorised Distributors
Security Equipment
v
Pelco
(
v
Chiper
Technology Company Limited,
v
Daniel
Data Systems,
v
R
B Tech Limited,
v
Sensormatic
Electronics Corporation,
v
Signal
Communications Limited,
v
Korea
Communication Company Limited,
Buildings and Hardware :
v
Yale,
An Assa Alloy Company,
v
Kwikset
Corporation, A Black and Decker Company,
Office Automation :
v
Fuji
Xerox Company Limited,
v
King
jim Company Limited,
AS PER
WEBSITE
Elan Global (erstwhile Pacific Export) was set up with the
goal of becoming the leading marketer of specialised, high technology,
innovative products imported into the country.
With the opportunities created out of liberalisation and
globalisation of the Indian economy, this company is expected to be the engine
for the group's ambitious growth objectives.
Their key strengths lie in sourcing and marketing world-class products to the
Indian consumer. With access to a wide database and a keen understanding of the
local market and the Indian consumer, they have been able to leverage their
resources and positions in response to specific client needs.
Elan Global has entered into marketing and servicing tie-ups with several
reputed international companies who are leaders in their own fields.
They have a strong sales and distribution network across the country and are
ably supported by a team of experienced and well-qualified marketing
professionals. A team that not only understands the product very well, but
also, consumer needs. This enables them to provide consultancy in turn-key
projects and back this up with another critical success factor, namely;
in-house servicing facilities. In the specialised product lines in which they
deal, they have built up a reputation for being the leaders with respect to
after-sales service.
Customer satisfaction is enhanced to the maximum by building and nurturing the
brand. This has been the key to their high customer retention rate. Their
products are also marketed under their own brand name - 'Elan'.
Elan Global has a vision. A vision to enhance multi-national partnership in
multi-industry areas of core competence; to continue to provide a gateway to
the ever growing Indian market and help
Their Businesses
v
Security Equipment
v
Building Materials and Hardware
v
Office Automation
About The Sun Group
The Sun Group of companies was established in 1973 by a family of traditional
entrepreneurs with a view to maximise trade and business opportunities within
and beyond the countries borders. The last two decades of continuous growth
have witnessed the group emerge as a leader in international business.
The group's architecture and its competencies make it ideally positioned to
take advantage of the opening up of the Indian economy which has spelt greater
opportunity. The group has grown multi-fold in size and maturity over the 25
years of its existence. Today the group's turnover stands at US $ 8 million.
Its presence has been recognized by the Government of India and the
international business community as well.
The group has a strong infrastructural set-up, with offices in Mumbai,
Besides well-equipped offices located in the prime business areas, the group
also have large storing and warehousing facilities. Proximity to ports,
international banks, principal markets and Government offices gives it an additional
edge that few others can offer.
Forming the core is a team of 50 highly dedicated industry experts and
professionals with years of relevant experience who help us keep their
promises. Also close at hand are the well organised services of legal experts,
patent advocates, chartered accountants, chartered engineers and consultants in
every branch of trade, foreign collaborations and joint ventures.
Three totally independent and specialised companies form the Sun Group. The
integrating philosophy of their diverse businesses is reflected in shared
values and in their approach to managing their people, capital and corporate
reputation.
And in their mission, to retain leadership in the international market through
quality, innovation and competitiveness.
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 |
Rs.40.93 |
|
|
1 |
Rs.80.76 |
|
Euro |
1 |
Rs.54.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
|
TOTAL |
|
38 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|