MIRA
INFORM REPORT
|
Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PALL INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Summer Plaza, 6th and 7th Floor, CTS 419, Village
Marol, Marol Maroshi Road, Andheri (East), Mumbai-400059, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
06.06.1996 |
|
|
|
|
Com. Reg. No.: |
11-100046 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U33110MH1996PTC100046 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP09069E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACP5960H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Supplier of Filteration, Separations and purifications technologies
that are essential to industry. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 2000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Pall Corporation, USA. Trade relations are
fair. Business is active. General financial position is good. Payments are reported
as usually correct and as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
|
Registered Office : |
Summer Plaza, 6th and 7th Floor, CTS 419, Village
Marol, Marol Maroshi Road, Andheri (East), Mumbai-400059, Maharashtra, India |
|
Tel. No.: |
91-22-67995555 |
|
Fax No.: |
91-22-67995556 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Arihang Comercial Complex, Building No. 13, Gala No. 1-2, Bhiwandi,
Maharashtra, India |
|
Tel. No.: |
91-95-2522272537 |
|
|
|
|
Branch Office : |
No. 1, Sarakki Industrial Layout Ring Road, JP Nagar, 6th
Phase, Bangalore-560078, Tamilnadu, India |
|
Tel. No.: |
91-80-40164100 |
|
Fax No.: |
91-80-41489454 |
|
|
|
|
Branch Office : |
Survey No. 237, IT Park Phase1, Hinjwadi, Pune-411057, Maharashtra, India |
|
Tel. No.: |
91-20-66520001 |
|
Fax No.: |
91-20-22934970 |
DIRECTORS
|
Name : |
Mr. Vinay Gopal Gupta |
|
Designation : |
Managing Director |
|
Address : |
403-A, Rainbow Co- operative Housing Society Limited, Raheja Vihar Powai,
Andheri (East), Mumbai-400072, Maharashtra, India |
|
Date of Birth/Age : |
06.08.1968 |
|
Date of Appointment : |
12.09.2006 |
|
|
|
|
Name : |
Mr. Kirankumar Vasant Shesh |
|
Designation : |
Director |
|
Address : |
E 1202, Lake Florence Lake Homes, Phase-I, A S Marg, Raheja Nest,
Powai, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
16.10.1965 |
|
Date of Appointment : |
12.09.2006 |
|
|
|
|
Name : |
Mr. Stephen Frank Smith |
|
Designation : |
Additional Director |
|
Address : |
14 Mount Elizabeth, # 11-03, Singapore-228512 |
|
Date of Birth/Age : |
03.10.1961 |
|
Date of Appointment : |
14.09.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 01.05.2008
|
List of Allottee |
|
No. of Shares Allotted |
|
Pall Corporation |
|
268000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
|
Category |
|
Percentage |
|
Foreign holdings (Foreign institutional investore(s), Foreign companie(s)
Foreign financial institution(s), Non-resident Indian(s) or Overseas
corporate bodies or Others |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of Filteration, Separations and purifications technologies that
are essential to industry. |
|
|
|
|
Products : |
|
GENERAL
INFORMATION
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountant |
|
Address : |
KPMG House, Kamla Mills Compound, 448, Senapati Bapat Marg, Lower
Parel, Mumbai-400013, Maharashtra, India |
|
|
|
|
Holding Company: |
Pall Corporation |
CAPITAL STRUCTURE
As on 30.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs. 10/- each |
Rs. 70.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2139500 |
Equity Shares |
Rs. 10/-
each |
Rs. 21.395
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
21.395 |
21.395 |
21.395 |
|
|
2] Share Application Money |
4.950 |
4.950 |
4.950 |
|
|
3] Reserves & Surplus |
391.556 |
316.170 |
264.619 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
417.901 |
342.515 |
290.964 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
1.716 |
0.340 |
|
|
2] Unsecured Loans |
1.210 |
1.210 |
1.210 |
|
|
TOTAL BORROWING |
1.210 |
2.926 |
1.550 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.587 |
|
|
|
|
|
|
|
|
TOTAL |
419.111 |
345.441 |
293.101 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
103.213 |
103.674 |
80.568 |
|
|
Capital work-in-progress |
83.272 |
4.983 |
10.538 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.515 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
13.957 |
1.175 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
159.956
|
143.239 |
127.077 |
|
|
Sundry Debtors |
260.309
|
159.035 |
105.955 |
|
|
Cash & Bank Balances |
90.157
|
110.614 |
32.508 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
238.703
|
160.482 |
126.204 |
|
Total
Current Assets |
749.125
|
573.370 |
391.744 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
349.568
|
219.627 |
93.597 |
|
|
Provisions |
183.403
|
118.134 |
96.152 |
|
Total
Current Liabilities |
532.971
|
337.761 |
189.749 |
|
|
Net Current Assets |
216.154
|
235.609 |
201.995 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
419.111 |
345.441 |
293.101 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
|
|
|
|
|
|
Sales Turnover |
|
976.182 |
648.334 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
976.182 |
648.334 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
123.954 |
85.363 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
123.954 |
85.363 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
|
171.745 |
23.451 |
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interest |
|
0.044 |
0.108 |
|
|
Depreciation & Amortization |
|
21.985 |
15.816 |
|
|
Other Expenditure |
|
83.199 |
547.047 |
|
Total Expenditure |
|
852.228 |
562.971 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
12.69
|
13.17 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.69
|
13.17 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.54
|
12.61 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.25 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.28
|
0.99 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.69 |
2.06 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been shifted from Sahney
Kirkwood, Compound 27, Kirol, Vidyavihar (West), Mumbai-400086, Maharashtra,
India to present address w.e.f. 14.04.2008
Bankers Charges Report
as per Registry
|
Name of the company |
PALL INDIA PRIVATE LIMITED |
|
Presented By |
Karnik Parikh,
Director |
|
1) Date and description of instrument creating the change |
Dated 18.03.2004 Medium
Term Loan Agreement for Hypothecation of Vehicle (Motor Car) From ICICI Bank
Limited, Bandra (East), Mumbai-400051, Maharashtra, India |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.670
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Purchase of
Hyundai Accent Via Chasis No. –
MALCHSR4M004027B Engine No. –
G4ED4A67467 Registration No.
– MH-08-5-8523 |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Medium Term Loan
Agreement with ICICI Bank Limited, Bandra (East), Mumbai-400051, Maharashtra,
India, Repayable I 12 EMI’s of Rs. 0.059 Million each |
|
5) Name and Address and description of the person entitled to the charge. |
ICICI Bank
Limited, ICICI Towers, Bandra- Kurla Complex, Bandra (East), Mumbai-400051,
Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
As per Website
Profile:
Pall Corporation is the largest and most diverse filtration, separations
and purifications company in the world. Their technical expertise, product
portfolio and global reach are unmatched. This diversity is a considerable
strength. It enables them to leverage opportunities across industries and
geographies.
The connection to Pall technologies
As consumers they rarely stop to consider how the products they use are made.
Whether they are computers or cell phones, a favorite beer or wine, tap water,
medicine, electricity, gasoline, or the paint on their cars, they simply expect
high quality, reliability and reasonable prices. For the most part, they get
them. Pall's highly sophisticated technologies are among the reasons why. These
technologies are invisible to consumers, but essential to industry.
Exceeding customer demands
The customers have a common enemy: contamination. It can destroy products, shut
down plants, hinder compliance with regulations and slow innovation. They help
them to:
- Optimize
process efficiency
- Ensure
product purity
- Meet
stringent regulations
- Remove
barriers to innovation
- Develop
integrated solutions
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.42.37 |
|
UK Pound |
1 |
Rs.84.01 |
|
Euro |
1 |
Rs.65.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|