MIRA
INFORM REPORT
|
Report Date : |
12.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PINNACLE HI-TECH TRADE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Chandan ‘C’
Apartments, Jalna Road, Flat No. 10, Rana Nagar, Aurangabad – 431 005,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
25.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-153496 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51500MH2005PTC153496 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
NSKP03273E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAIFP1929P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Traders of
Industrial Spare Parts and Engineering Goods. |
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. |
Small |
|
Maximum Credit Limit : |
USD 4672 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small company in its field. Trade relations are reported as fair. Business is active. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings at usual trade terms and conditions |
LOCATIONS
|
Registered/ Head Office: |
Flat No. 10, Chandan C Apartment, Rana Nagar, Jalna Road, Aurangabad-431005, Maharashtra |
|
Tel. No.: |
91-240-2441043/ 2443147 |
|
Mobile No.: |
91-9325220464 |
|
Fax No.: |
91-240-2451621 |
|
Email: |
|
|
Area: |
1500 sq. ft. |
|
Location: |
Rented |
|
|
|
|
Factory 1 : |
Villa Satara, Beel by pass road, Near Renuka Mata Mandir, Abad. |
|
Tel. No.: |
91-240-3098310 |
|
Area: |
2000 sq. ft. |
|
Location: |
Rented |
|
|
|
|
Factory 2 : |
Plot No. 499, Priya Villa, First Floor, Kodtri Chowle, Nagpur. |
|
Tel. No.: |
91-712-3953476 |
|
Area: |
1500 sq. ft. |
|
Location: |
Rented |
|
|
|
|
Branch Office: |
Plot No. 499, Priya Villa, First Floor, Ashok Battery, Kabdi Chowk, Mental Hospital Road, Nagpur – 440 009 |
|
Tel. No.: |
91-712-3953476 |
|
Email: |
DIRECTORS
|
Name : |
Mr. Shrikrishna Devidas Choudhary |
|
Designation : |
Director |
|
Address : |
Flat No. 15, Chandan-A Apartment, Rana Nagar, Jalna Road, Aurangabad-440012 |
|
Date of
Birth/Age : |
42 Years |
|
Qualification
: |
B.E. (Production) |
|
Experience : |
19 Years |
|
|
|
|
Name : |
Mrs. Nayana Choudhary |
|
Designation : |
Director |
|
Address : |
Flat No. 15, Chandan-A Apartment, Rana Nagar, Jalna Road, Aurangabad-440012 |
|
Date of Birth/Age
: |
36 Years |
|
Qualification
: |
B.Com |
|
Experience : |
11 Years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 21.04.2005)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
S.D. Choudhary |
|
5000 |
|
N.S. Choudhary |
|
5000 |
|
|
|
|
|
Total |
|
10000 |
(As on 31.03.2007)
|
Equity Share
Breakup/ Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders of Industrial
Spare Parts and Engineering Goods. |
|
|
|
|
Products : |
|
|
|
|
|
Agencies Held : |
|
|
|
|
|
Imports : |
|
|
Countries : |
Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (45 Days) |
|
|
|
|
Purchasing : |
Credit (30 Days) |
GENERAL
INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
22 |
|
|
|
|
Bankers : |
Aurangabad main
Branch, Apulki Building, Aurangabad – 431001, Maharashtra, India
Apulki bulding, Aurangabad- 431001, Maharashtra, India |
|
|
|
||||||||||||||
|
Banking
Relations : |
Satisfactory |
||||||||||||||
|
|
|
||||||||||||||
|
Auditors : |
|
||||||||||||||
|
Name : |
Singh Mundada and Company Chartered Accountant |
||||||||||||||
|
Address : |
414, Lodha Chamber Station Road, Aurangabad – 431005,
Maharashtra, India |
||||||||||||||
|
Tel. No.: |
91-420-2357851 |
||||||||||||||
|
|
|
||||||||||||||
|
Name : |
B P Singh and Company Chartered Accountant |
||||||||||||||
|
Address : |
Office No.414, Labh Chambers, Station Road, Aurangabad – 431005, Maharashtra,
India |
||||||||||||||
|
|
|
||||||||||||||
|
|
|
||||||||||||||
|
Associates : |
Well Track Traders |
||||||||||||||
|
|
|
||||||||||||||
|
Subsidiaries : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99900 |
Equity Shares |
Rs.10/- each |
Rs.0.999
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.999 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.169 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1.168 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
5.200 |
0.000 |
|
|
2] Unsecured Loans |
|
3.322 |
0.004 |
|
|
TOTAL BORROWING |
|
8.522 |
0.004 |
|
|
DEFERRED TAX LIABILITIES |
|
0.023 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
9.713 |
0.104 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.073 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.293 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
4.666 |
0.000 |
|
|
Sundry Debtors |
|
7.720 |
0.000 |
|
|
Cash & Bank Balances |
|
0.056 |
0.071 |
|
|
Other Current Assets |
|
0.060 |
0.000 |
|
|
Loans & Advances |
|
0.094 |
0.000 |
|
Total
Current Assets |
|
12.596 |
0.071 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
1.029 |
0.002 |
|
|
Provisions |
|
4.252 |
0.000 |
|
Total
Current Liabilities |
|
5.281 |
0.002 |
|
|
Net Current Assets |
|
7.315 |
0.069 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.032 |
0.035 |
|
|
|
|
|
|
|
|
TOTAL |
|
9.713 |
0.104 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
|
Sales Turnover |
|
|
13.113 |
|
|
Other Income |
|
|
0.000 |
|
|
Total Income |
|
|
13.113 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
0.523 |
|
|
Provision for Taxation |
|
|
0.000 |
|
|
Profit/(Loss) After Tax |
|
|
0.523 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interests |
|
|
0.000 |
|
|
Depreciation |
|
|
0.247 |
|
|
Other Expenditure |
|
|
12.343 |
|
Total Expenditure |
|
|
12.590 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007
|
31.03.2006 |
|
PAT / Total Income |
(%) |
|
3.99 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.99 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.56 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.45 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
11.82 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.38 |
35.50 |
UDAY HOSE
CRIMPER
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2006 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.034 |
|
|
2] Share
Application Money |
|
|
0.000 |
|
|
3] Reserves &
Surplus |
|
|
0.447 |
|
|
4] (Accumulated
Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.481 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1.038 |
|
|
2] Term Loans |
|
|
0.383 |
|
|
TOTAL BORROWING |
|
|
1.421 |
|
|
DEFERRED TAX
LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.902 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.733 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1.646 |
|
|
Sundry Debtors |
|
|
2.485 |
|
|
Cash & Bank Balances |
|
|
0.001 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total Current Assets |
|
|
4.132 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
1.844 |
|
|
Provisions |
|
|
0.124 |
|
Total Current Liabilities |
|
|
1.968 |
|
|
Net Current Assets |
|
|
2.164 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.902 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
Sales Turnover [including other income] |
|
|
10.599 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
|
0.447 |
|
Provision for
Taxation |
|
|
0.000 |
|
Profit/(Loss)
After Tax |
|
|
0.447 |
|
|
|
|
|
|
Total Expenditure |
|
|
11.550 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2006 |
|
PAT / Total Income |
(%) |
|
|
4.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
4.22 |
|
|
|
|
|
|
|
Return on Total
Assets (PBT/Total Assets} |
(%) |
|
|
9.19 |
|
|
|
|
|
|
|
Return on
Investment (ROI) (PBT/Networth) |
|
|
|
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total
Liability/Networth) |
|
|
|
2.29 |
|
|
|
|
|
|
|
Current Ratio (Current
Asset/Current Liability) |
|
|
|
2.10 |
LOCAL AGENCY FURTHER
INFORMATION
Form 8:
|
This form is for |
Creation of Charge |
|
Corporation identity number (CIN) or foreign company registrations number of the company |
U51500MH2005PTC153496 |
|
Name of the company |
PINNACLE HI-TECH TRADE PRIVATE LIMITED |
|
Address |
Chandan ‘C’
Apartments, Jalna Road, Flat No. 10, Rana Nagar, Aurangabad – 431 005,
Maharashtra, India |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
United Western Bank Limited Apulki bulding, Aurangabad- 431001, Maharashtra, India |
|
Nature or description of the instrument creating or modifying the charge |
Bank Guarantee |
|
Date of the instrument creating charge |
27.07.2006 |
|
Amount Secure by the charge |
Rs.1.000 Million |
|
Brief particulars of the principal terms and conditions and extent and operation of the charge |
Terms and Conditions as per decided by Bank time to time. |
|
Short particulars of the Property charged |
Stock in Trade Goods Procured under Bank Guarantee |
|
Particulars of the present modification |
NA |
TRADE REFERENCES:
- M/S Festo
Controls Private Limited , Add: Hosur Highway, Banglore – Mr. S. Patrik
- M/S
Boonfigilioli Transmission Private Limited, Add; Skod Industry area,
Chennai – Mr. Ravi
- M/S Gates
India Private Limited, Add: Pooja Haiya Ltisra - Mr. Shetty.
Profile:
Subject is establishing based on experience accumulated in Industrial
Marketing of various worlds’ number one and high technological brands.
Presently Industrial marketing is being done
in various automobile vehicle manufacturer, Engineering Industry, Process
Industry, Pharmaceuticals Industry, Chemical Industry, SPM manufacturer etc.
They are having well educated train staff in
Industrial marketing management and they are well train in adopting all latest
technology is being used in market.
The company establishes in year 2000 and
spread their marketing network in various part of India.
- Year2000- Started work with the leadership of FESTO who is no one
in Pneumatic.
- Year2001-Added one more international brand the name is GATES which
is no one in world for Hydraulic and Industrial Hose manufacturer.
- Year2003-Added one more international brand the name is BONFIGLIOLI
which is one of the Leader in the world of Gear box and Gear motor
Manufacturing.
- Year2006-Added one more international brand the name is XAVIS.It is
Korean company and Leader in manufacturing of X-ray machine vision &
software for factory Automation (FA) equipments.
X-ray machine for
Industrial application is first time introduce in India as a distributor and
started capturing the market with using high skill of marketing .
Management Concept:
- Through the automation technology
- Happy life of employees
- Beneficial management condition to
Employers
- Contribution to the Welfare
BUSINESS MAIN OBJECT:
To carry on in India or elsewhere the business in Marketing of Industrial Spares parts Engineering goods, dealing in any automatic machine required to industries, hose pines, and developers, buyers, sellers, hires, sub sellers, market, repairers, exporters, importers, distributors, and to act as agent, representative, correspondent, franchiser, stockiest, supplier, vendor, transporter, collaborator, export house of otherwise to deal in all its branches in automatic, semi automatic, manual and equipments, including lathes, turrelathes, capstan lathes, engine lathes, drills, drilling machines, grinding machines, slotting machines, broaching machines, boring machines, hobbling machines, coning machines, lapping machines, punching machines whether used for special operations or for general operations and whether operated on human, electrical, magnetic, electromagnetic, chemical, electro chemical, photo chemical, solar, tidal wind, nuclear, thermal, thermonuclear or other form of energy and their parts, product, components, instruments, raw materials, display circuits, micro circuits, used in machine tools, including boubles, bars, slices, round, wafers, solid, which may be polished, processed, coated, fused, diffused replacement parts, spare parts, substances, equipments, structures, moulds, tankers, buses, cycles, cars, ambulance, tempos, tractors, two wheelers, three wheelers, vans, jeep, omnibuses, and all type of vehicle
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.94 |
|
UK Pound |
1 |
Rs.78.81 |
|
Euro |
1 |
Rs.63.05 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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. |
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 |
|