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MIRA
INFORM REPORT
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Report Date : |
25.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
PIONEER STATIONERY (PRIVATE) LIMITED |
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Registered Office : |
D – 379, TTC
Industrial Area, Turbhe, MIDC, Kukshet, Navi Mumbai – 400706, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.03.2005 |
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Com. Reg. No.: |
11-152204 |
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CIN No.: [Company
Identification No.] |
U22200MH2005PTC152204 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP20432G |
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PAN No.: [Permanent
Account No.] |
AABCP6475E |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Exporters and Manufacturers
of all types of school and college note books, address book, journals,
diaries and planners, construction papers, activity pads, scribble pads,
drawing books and all other stationery items. |
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 16484 |
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Status : |
Small company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company and yet to establish. Company has
done satisfactory business during the first full year of its operations.
Trade relations are fair. Payment are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
D – 379, TTC
Industrial Area, Turbhe, MIDC, Kukshet, Navi Mumbai – 400706, Maharashtra,
India |
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Tel. No.: |
91-22-39590001/2/27611148 |
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Mobile No.: |
91-9322234804 |
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Fax No.: |
91-22-27685825 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Kanti
Bhavanji Gala |
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Designation : |
Director |
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Address : |
B – 205,
shatrunjay Darshan, Love Lane, Byculla, Mumbai – 400027, Maharashtra, India |
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Date of Birth/Age : |
11.06.1956 |
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Date of Appointment : |
28.03.2005 |
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Name : |
Mr. Neil Ramesh
Shah |
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Designation : |
Director |
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Address : |
3/16 Chowpatty
Terrace, Morvi Lane, Chowpatty, Mumbai – 400007, Maharashtra, India |
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Date of Appointment : |
25.04.2005 |
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Name : |
Mr. Rajendra
Bhavanji Gala |
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Designation : |
Director |
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Address : |
B – 205, shatrunjay
Darshan, Love Lane, Byculla, Mumbai – 400027, Maharashtra, India |
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Date of Birth/Age : |
10.05.1960 |
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Date of Appointment : |
28.03.2005 |
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Name : |
Ms. Kusum Ramesh
Shah |
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Designation : |
Director |
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Address : |
3/16 Chowpatty Terrace,
Morvi Lane, Chowpatty, Mumbai – 400007, Maharashtra, India |
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Date of Appointment : |
25.04.2005 |
BUSINESS DETAILS
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Line of Business : |
Exporters and
Manufacturers of all types of school and college note books, address book,
journals, diaries and planners, construction papers, activity pads, scribble
pads, drawing books and all other stationery items. |
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Exports : |
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Countries : |
U.S.A. and U.K. |
PRODUCTION
STATUS:-
Monthly production
of 420 feet containers of stationery
GENERAL
INFORMATION
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No. of Employees : |
12 |
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Bankers : |
Bank of India Address: Eros Theatre Building, J Tata
Road, Mumbai – 400 020, Maharashtra Email: biochurchbr@mtnl.net.in |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ghalla and Bhansali Chartered Accountants |
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Address : |
Devansh, 133 D S P Road, Near Ranjit Studios, Dadar (East) , Mumbai –
400 014, Maharashtra |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity shares |
Rs. 10/- each |
Rs. 0.500 million |
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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3.621 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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4.121 |
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LOAN FUNDS |
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1] Secured Loans |
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0.391 |
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2] Unsecured Loans |
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5.919 |
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TOTAL BORROWING |
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6.310 |
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DEFERRED TAX LIABILITIES |
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0.036 |
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TOTAL |
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10.467 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.996 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.480 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.580 |
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Sundry Debtors |
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2.322 |
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Cash & Bank Balances |
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0.392 |
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Other Current Assets |
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1.158 |
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Loans & Advances |
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0.495 |
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Total
Current Assets |
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8.947 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.742 |
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Provisions |
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0.235 |
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Total
Current Liabilities |
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1.977 |
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Net Current Assets |
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6.970 |
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MISCELLANEOUS EXPENSES |
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0.021 |
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TOTAL |
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10.467 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.08 |
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Current Ratio (Current Asset/Current Liability) |
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4.52 |
LOCAL AGENCY
FURTHER INFORMATION
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Corporation identity number or foreign company registrations number of
the company |
U22200MH2005PTC152204 |
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Name of the company |
PIONEER STATIONERY (PRIVATE) LIMITED |
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Address |
D – 379, TTC Industrial Area, Turbhe, MIDC, Kukshet, Navi Mumbai –
400706, Maharashtra, India |
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This Form is for |
Creation of charge |
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Type of Charges |
· Immovable property · Book Debts · Movable property |
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Particular of the charge holder
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Bank of India Address: Eros Theatre Building, J Tata
Road, Mumbai – 400 020, Maharashtra Email: biochurchbr@mtnl.net.in |
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Nature or description of the instrument creating charge |
Hypothecation cum Loan agreement (Plant
and Machinery, Stocks and Book debts) |
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Date of the instrument creating charge |
27.11.2006 |
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Amount Secure by the charge |
Rs. 7.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate
of interest: 1% above BPLR subject to minimum of 12.50%
on Cash Credit, 7.75% on EPC, 7.75% on FBP/ FBN upto 90 days and 11% on FBP/
FBN above 90 days but upto 6 months. Term
of repayments: As per sanction Letter Margin: As per sanction letter Extent
and operation of the charge: As per sanction letter |
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Short particulars of the Property charged |
· Hypothecation of tangible movable machineries and plant (both present and future) at Navi Mumbai – Factory Premises. · All tangible movable properties, assets, stocks · All the present and future book debts · Deposit of title deed of flat of the Guarantor |
OTHER INFORMATION:
The company’s Registered
Office was shifted from G – 31, Grain Merchant Cooperative Housing Society,
Sector 17, Vashi, Navi Mumbai – 400703, Maharashtra, India to the present
address.
Business:
To carry on
business as manufacturers, importers, exporters, traders, sellers, retailers,
wholesalers, suppliers, indenters, packers, movers, stockists, agents,
sub-agents, merchants, distributors, consignors, jobbers, brokers, paper and
related products, stationery and related products and to act printers,
publishers, stationers, lithographers, stereotypes, electrotypes, engraves,
book – binders, designers, draftsmen, paper and ink manufacturers, envelope,
diary and calendar manufacturers or printers, book – sellers, dealers in
visiting, wedding and other cards, charts, maps and such other like business.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.38 |
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UK Pound |
1 |
Rs.80.96 |
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Euro |
1 |
Rs.56.81 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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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 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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27 |
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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