MIRA
INFORM REPORT
|
Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
PARLE
TOOLS INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered Office : |
503,
Vyom Arcade, 5th Floor, Vir Baji Prabhu Deshpande Marg, Opp. Eupharma,
off Subahsh Road, Vile Parle [East], Mumbai - 400057, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
13.12.2005 |
|
|
|
|
Com. Reg. No.: |
11-158506 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29297MH2005PTC158506 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP21542D |
|
|
|
|
Legal Form : |
Private limited
liability company. |
|
|
|
|
Line of Business : |
Merchant
exporters and importers of spares and components, dies and punches. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new
company and taken over the business of the erstwhile partnership concern.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can
be considered for small business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
503,
Vyom Arcade, 5th Floor, Vir Baji Prabhu Deshpande Marg, Opp. Eupharma,
off Subahsh Road, Vile Parle [East], Mumbai - 400057, Maharashtra, India |
|
Tel. No.: |
91-22-26827005 |
|
Fax No.: |
91-22-26826729 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1500
sq. fts. |
|
Location : |
Leased
|
|
|
|
|
Corporate Office : |
7th Floor,
B Wing, “Mangalya”, Off. Marol Maroshi Road, Andheri [East], Mumbai – 400059 |
|
Tel. No.: |
91-22-40300000 |
|
Fax No.: |
91-22-40300099 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Mahendra Mehta |
|
Designation : |
Director |
|
Address : |
702, Prangan Society, Malavia Road, Vile Parle (East), Mumbai
– 400 057, Maharashtra, India |
|
Date of Birth/Age : |
D.M.E. |
|
Qualification : |
|
|
Experience : |
|
|
Date of Appointment : |
30.12.2010 |
|
|
|
|
Name : |
Mr. Rajmal Mehta |
|
Designation : |
Director |
|
Address : |
702, Prangan Society, Malavia Road, Vile Parle (East),
Mumbai – 400 057, Maharashtra, India |
|
Experience : |
Pharmacist |
|
Date of Appointment : |
30.12.2005 |
|
|
|
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr.
Rajmal Mehta |
|
5000 |
|
Mr.
Mahendra Mehta |
|
5000 |
|
Total |
|
10000 |
BUSINESS DETAILS
|
Line of Business : |
Merchant
exporters and importers of spares and components, dies and punches. |
|
|
|
|
Exports : |
|
|
Countries : |
Dies
and punches to Korea, U.S.A and U. K. |
|
|
|
|
Imports : |
|
|
Countries : |
Spares
and components from Korea |
|
|
|
|
Terms : |
|
|
Selling : |
L/C,
D/P or Advance Payments terms |
|
|
|
|
Purchasing : |
D/P
terms |
GENERAL
INFORMATION
|
Customers : |
End
Users And Pharmaceutical Industry |
|
|
|
|
No. of Employees : |
6 |
|
|
|
|
Bankers : |
Bank
of Baroda, Vile Parle (West), Mumbai - 400059, Maharashtra, India [The concern
does not enjoy facility from its banker.] |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. U. Jain and
Company Chartered
Accountant |
|
Address : |
8, Godavari
Niwas, 2nd Floor, Sradhanand Road, Vile Parle [East], Mumbai –
400057, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
Parle
Tablet Tools Private Limited Vasai,
Thane, Maharashtra Tel.
No. 91-250-2452841 Activity
- Manufactures of pharmaceutical machinery |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(0.019) |
|
|
NETWORTH |
|
|
0.081 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.060 |
|
|
TOTAL BORROWING |
|
|
0.060 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.141 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.021 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.004 |
|
Total
Current Assets |
|
|
0.025 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
0.005 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.005 |
|
|
Net Current Assets |
|
|
0.020 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.121 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.0141 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
Profit/(Loss) After Tax |
|
|
(0.019) |
|
|
|
|
|
|
Expenditures : |
|
|
|
|
Total Expenditure |
|
|
0.019 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2006 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
5.00 |
LOCAL AGENCY
FURTHER INFORMATION
Business
To carry on the business
of manufacturer, trader, buyer, seller, exporter, importer, distributor,
supplier, assembler, designer, developer, fabricator, engineer, repairer, let
on hire and dealer of all kinds of machinery, plant equipments, tools,
measuring instruments, checking equipments engineering tools, measuring
instruments, checking equipment appliances, apparatus used by Pharmaceutical
Industry in particulars and by other industry in general.
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 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.43.59 |
|
UK Pound |
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.58.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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 |
|