MIRA
INFORM REPORT
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Report Date : |
04.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRAMA INSTRUMENTS PRIVATE LIMITED |
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Registered Office : |
1/1, Yadav and Mishra Compound opp. Asmitha High School, Jogeshwori
(East), Mumbai - 400060, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.09.2004 |
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Com. Reg. No.: |
104297 |
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CIN No.: [Company
Identification No.] |
U33100MH2004PTC104297 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Industrial and Chemical Process Equipments. |
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 33152 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company having
satisfactory track records. Trade relations are fair. Business is active.
Payments are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
1/1, Yadav and Mishra Compound opp. Asmitha High School, Jogeswari
(East), Mumbai - 400060, Maharashtra, India |
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Tel. No.: |
91-22-28225384/ 28202135/ 28369062/ 67110621 |
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Fax No.: |
91-22-28352459 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Madanmohan Ambikaprasad Mishra |
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Designation : |
Director |
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Address : |
B/4, Dheeraj Valley, Sai Baba Nagar, Goregoan (East), Mumbai – 400063,
Maharashtra, India |
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Date of Birth/Age : |
10.02.1966 |
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Date of Appointment : |
03.12.1996 |
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Name : |
Mr. Umesh Ambikaprasad Mishra |
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Designation : |
Director |
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Address : |
B/4, Dheeraj Valley, Sai Baba Nagar, Goregoan (East), Mumbai – 400063,
Maharashtra, India |
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Date of Birth/Age : |
26.09.1972 |
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Date of Appointment : |
03.12.1996 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Madanmohan Ambikaprasad Mishra |
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2000 |
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Mr. Umesh Ambikaprasad Mishra |
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2000 |
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Total |
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4000 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Industrial and Chemical Process Equipments. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
140, Vivek Darshan, Opp. Bhakti Bhavan, Sindhi Society, Chembur,
Mumbai – 400071, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
V A Mishra and Associates Chartered Accountant |
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Address : |
6, Nand Bhavan, 2nd Floor, Opp. Sports Complex, J P Road,
Andheri (W), Mumbai – 400053, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Share |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4000 |
Equity Share |
Rs.10/- each |
Rs.0.040
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.040 |
0.040 |
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2] Share Application Money |
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4.280 |
2.780 |
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3] Reserves & Surplus |
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3.968 |
2.393 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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8.288 |
5.213 |
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LOAN FUNDS |
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1] Secured Loans |
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15.528 |
0.000 |
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2] Unsecured Loans |
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11.928 |
3.103 |
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TOTAL BORROWING |
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27.456 |
3.103 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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Others (Please Specify) |
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3.800 |
4.392 |
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TOTAL |
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39.544 |
12.708 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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34.969 |
21.038 |
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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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1.368 |
2.505 |
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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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0.785 |
0.226 |
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Sundry Debtors |
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34.727 |
35.721 |
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Cash & Bank Balances |
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0.576 |
1.623 |
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Other Current Assets |
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1.292 |
0.482 |
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Loans & Advances |
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1.940 |
3.177 |
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Total
Current Assets |
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39.320 |
41.229 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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19.209 |
49.100 |
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Provisions |
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16.904 |
2.964 |
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Total
Current Liabilities |
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36.113 |
52.064 |
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Net Current Assets |
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3.207 |
(10.835) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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39.544 |
12.708 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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88.190 |
73.369 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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88.190 |
73.369 |
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Profit/(Loss) Before Tax |
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2.543 |
0.604 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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2.543 |
0.604 |
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Expenditures : |
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Depreciation & Amortization |
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2.426 |
1.734 |
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Other Expenditure |
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83.221 |
70.031 |
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Total Expenditure |
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85.647 |
71.765 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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2.88 |
0.82 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.88 |
0.82 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.42 |
0.97 |
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Return on Investment (ROI) (PBT/Networth) |
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0.31 |
0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.67 |
10.58 |
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Current Ratio (Current Asset/Current Liability) |
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1.09 |
0.79 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate
identity number (CIN) Foreign company registration number |
U33100MH2004PTC104297 |
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Name of the Company
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PRAMA INSTRUMENTS PRIVATE LIMITED |
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Address |
1/1, Yadav and Mishra Compound opp. Asmitha High School, Jogeswari
(East), Mumbai, Maharashtra, India |
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This form is for |
Creation of
Charge |
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Type of Charge |
Simple Mortgage |
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Particulars of
the charge holder |
Janakalyan Sahakari Bank Limited 140, Vivek Darshan, Opp. Bhakti Bhavan, Sindhi Society, Chembur,
Mumbai – 400071, Maharashtra, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Mortgage Deed |
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Date of the
instrument creating or modifying the charge |
21.08.2006 |
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Amount secured by
the charge |
Rs.16.900
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Facility :
Mortgage Terms Loan Limit : Rs.16.900
Millions Margin : 53% ROI : 12.50 % |
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Short particulars
of the property charged (including location of the property) |
All that piece
and parcel of land a or ground together with structure standing thereon
bearing plot no.21, admeasuring about 823.88 sq. mtrs. With structure
standing thereon comprising ground + first upper floor, admeasuring 431.95
sq. mtrs (built up) of thereabout on plot land being constructed in the year
1981 on plot bearing C T S No.532 (Pt) of Village Pahadi Goregaon (E),
Situated at Cama Municipal Industrial Estate, Walbhat Road, Goregaon (E),
Mumbai – 400063, In Tal Borivali. |
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Particular of the
present modification |
NA |
Profile:
Mr. Madan Mishra, with a vast expertise
in Mechanical Engineering founded Prama Engineering Company in a very humble
way, in the year 1991. It all began with just a Capital of INR 70,000, an
office space of 100 Sq. ft and employee strength of 2 persons.
In its nascent avatar, Prama Engineering
Company, Mumbai had two Mechanical Fabrication Machines and used to produce
Nuts, Ferrules, Unions, Adaptors and other mechanical items useful in
manufacturing of Gas Chromatographs
In the Year 1994 it has converted
into subject under Indian company’s act 1956 and over the years, subject has
grown in all spheres. With a nation-wide network of offices, Clientele
comprising of all Major Pharmaceutical Companies and Premier Research
Laboratories Like Ranbaxy, Dr Reddy's Laboratories Limited, Cipla Limited,
Lupin Limited, Ipca, Matrix Laboratories Limited etc.. , a team size of over
50, PRAMA has established itself in the areas of Analytical Laboratory
Equipment.
In the year 1994 company has
started his new company know as Prama Intech Private Limited at MIDC Sinner ,
Nashik to Manufacture the Electrical Insulation and sleeving to serve the
electrical Industry having the customers like Crompton Greevees India Limited,
Bharat Bijlee Limited, Jyoti Limited,
In the Year 2004 the company has
started his new venture as Prama Analytics Private Limited for dealing in
Imported imstruments like Elemental Analysers ,Titrators as well as Sample
preparation system for Ion Chromatograph, Gas Generators, Laboratory Fume
Hoods, Anti-vibration tables, and furnitures, alongwith the other laboratory
instruments and consumables.
The recent endeavor to provide
Complete Solutions to all laboratories has seen Prama add world-class Lab
furniture and other Analytical Instruments to its portfolio.
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 |
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US Dollar |
1 |
Rs.39.95 |
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UK Pound |
1 |
Rs.79.41 |
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Euro |
1 |
Rs.62.49 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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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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45 |
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. |
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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