MIRA
INFORM REPORT
|
Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
P M MARKETING PRIVATE LIMITED |
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Registered Office : |
Office Prmises No. 31, 3rd Floor, Regency Chambers, National
Library Road, Near Nandi Cinema, Bandra (West), Mumbai-400050, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
30.01.2002 |
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Com. Reg. No.: |
11-134725 |
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CIN No.: [Company
Identification No.] |
U51909MH2002PTC134725 |
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IEC No.: |
0302003380 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP20178E |
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PAN No.: [Permanent
Account No.] |
AACCP3674Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader, Dealer, Distributor, Exporter and Importer of Indian and
Foreign Brands of Liqueur Cutty Sark, Liqueur Cointeau, Taquila, Campari
Blossom Hill etc. |
RATING & COMMENTS
|
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 36000 |
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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 good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Kalyaman Jain |
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Designation : |
Chartered Accountant |
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Name : |
Mr. Sopan Panbude |
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Designation : |
Director |
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Tel No.: |
91- 9870302682 |
LOCATIONS
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Registered Office : |
Office Prmises No. 31, 3rd Floor, Regency Chambers,
National Library Road, Near Nandi Cinema, Bandra (West), Mumbai-400050, Maharashtra,
India |
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Tel. No.: |
91-22-26401995 |
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Fax No.: |
91-22-26401997 |
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E-Mail : |
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Area : |
50 sq ft |
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Location : |
Rented |
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Corporate Office : |
601, Lavlesh Court, Pandit Varde Road, Behind Copper Chimbney Restaurant,
Bandra (West), Mumbai, Maharashtra, India |
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Tel. No.: |
91-22-26401995 |
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Fax No.: |
91- 26401997 |
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Area : |
500 sq ft |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Sopan D Panbude |
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Designation : |
Director |
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Address : |
104, Krishna Park A Rahul Park, Near Jaisal Park, Bhayender (East),
Thane, Mumbai, Maharashtra, India |
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Date of Birth/Age : |
07.06.1972 |
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Qualification : |
Graduate |
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Date of Appointment : |
13.01.2002 |
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Name : |
Mr. Rajesh Sajnani |
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Designation : |
Director |
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Address : |
C-4, Balkrishna Society 142/ 5 J P Rid Seven Banglow, Andheri (West),
Mumbai-400053, Maharashtra, India |
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Date of Birth/Age : |
25.03.1970 |
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Qualification : |
M. Com, LLB |
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Date of Appointment : |
09.02.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on30.09.2005
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Names of Shareholders |
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No. of Shares |
|
Duru Matai |
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42000 |
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Matai Vrutika |
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3000 |
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Narang Vijay |
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50000 |
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Sopan D Pandube |
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5000 |
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Total |
|
100000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader, Dealer, Distributor, Exporter and Importer of Indian and
Foreign Brands of Liqueur Cutty Sark, Liqueur Cointeau, Taquila, Campari
Blossom Hill etc. |
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Exports : |
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Products : |
Cutty Sark, Liqueur Cointeau, Taquila, Campari Blossom Hill |
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Countries : |
·
Singapore ·
Netherland ·
European Countreis |
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Terms : |
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Selling : |
L/C and Credit (60 Days) |
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Purchasing : |
Credit (30 Days) |
GENERAL
INFORMATION
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Suppliers : |
·
Suntan Trading Company Limited ·
Aspri Spirits Private Limited ·
Distrimax BV ·
Mohan Brothers Private Limited |
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Customers : |
·
Wholesaler ·
Aspri Spirits Private Limited ·
Deleiasea BV |
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No. of Employees : |
09 |
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Bankers : |
·
Syndicate Bank, Rukshana Apartment, Dr. Ambedkar Road, Pali Hills,
Khar Road (West), Mumbai-400052, Maharashtra, India ·
ICICI Bank, Bandra Branch |
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Facilities : |
Packaging Credit Rs. 20.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kalyan Jain and Company Chartered Accountant |
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Address : |
108, A.S Dias Building, 268/ 272, 1st Floor, Dr. C H
street, Marine Line, Mumbai-400002, Maharashtra, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
||
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.025 |
0.100 |
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3] Reserves & Surplus |
6.377 |
3.437 |
1.638 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.377 |
4.462 |
2.738 |
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LOAN FUNDS |
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1] Secured Loans |
15.350 |
8.434 |
10.184 |
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2] Unsecured Loans |
1.050 |
1.050 |
1.157 |
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TOTAL BORROWING |
16.400 |
9.484 |
11.341 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
23.777 |
13.946 |
14.079 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.436 |
0.181 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
17.719
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44.967 |
0.501 |
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Sundry Debtors |
8.384
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.067
|
0.036 |
0.027 |
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Other Current Assets |
0.310
|
0.000 |
0.000 |
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Loans & Advances |
1.813
|
33.928 |
18.711 |
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Total
Current Assets |
28.293
|
78.931 |
19.239 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
4.596
|
65.166 |
5.166 |
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Provisions |
1.356
|
0.000 |
0.000 |
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Total
Current Liabilities |
5.952
|
65.166 |
5.166 |
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Net Current Assets |
22.341
|
13.765 |
14.073 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.006 |
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TOTAL |
23.777 |
13.946 |
14.079 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2008 |
31.03.2007 |
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Sales Turnover |
|
204.238 |
210.221 |
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Other Income |
|
4.169 |
0.000 |
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Total Income |
|
208.407 |
210.221 |
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Profit/(Loss) Before Tax |
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4.294 |
2.784 |
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Provision for Taxation |
|
1.354 |
0.985 |
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Profit/(Loss) After Tax |
|
2.940 |
1.799 |
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Total Expenditure |
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204.113 |
207.437 |
KEY RATIOS
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PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
01.41
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0.86 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
02.60
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1.38 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.44
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3.52 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.58
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0.62 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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3.02
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16.73 |
6.02 |
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Current Ratio (Current Asset/Current Liability) |
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4.75
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1.21 |
3.72 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
·
Aspri Spirits Private Limited
301 Lavlesh Court Pt. Varde Marg, Bandra (West), Mumbai
Contact Person: Mr. Jaykishan Matai
·
Vinspri Distributors Private Limited
Contact Person: Mr. Gautam Matai
Bankers Charges
Report as per Registry
|
Name of the company |
P M MARKETING PRIVATE LIMITED |
|
Presented By |
Mr. Sopan D
Panbude (Director) |
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1) Date and description of instrument creating the change |
Comprehensive Pre
and Postshipment Dated 28.02.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.700
Millions |
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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 |
By way of loan,
or by way of facilities against export bills on sight or usance bills drawn
by the Borrower in foreign currency or Indian Rupee with or without L.C, or
against documents by purchase, discount or collection tendered in respect of
export on consignment basis. The details of loan/s, running account/s, their
release etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1) Each PCL shall
be closed within 90 days FUBP tenor shall not exceed 120 Days |
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5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank, Rukshana Apartment, Dr. Ambedkar Road, Pali Hills,
Khar Road (West), Mumbai-400052, Maharashtra, India |
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
|
90351138 |
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Corporate
identity number of the company |
U51909MH2002PTC134725 |
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Name of the
company |
P M MARKETING PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Office Prmises No. 31, 3rd Floor, Regency Chambers,
National Library Road, Near Nandi Cinema, Bandra (West), Mumbai-400050,
Maharashtra |
|
Type of charge |
Book Debts Others |
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Particular of
charge holder |
Syndicate Bank, Rukshana Apartment, Dr. Ambedkar Road, Pali Hills,
Khar Road (West), Mumbai-400052, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Hypothecation Agreement dated 24.12.2007 Comprehensive Pre
and Post Shipment Agreement dated 24.12.2007 (Collectively
Constitute a single charge of Rs. 12.000 Millions) |
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Date of
instrument Creating the charge |
24.12.2007 |
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Amount secured by
the charge |
Rs. 12.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest
10% p.a. Terms of
Repayment Each PCL shall be
closed within 120 Days Margin 25% PCL Extent and
Operation of the charge The Bank Shall be
first charge on the assets secured |
|
Short particulars
of the property charged |
Stock of imported
liquor/ spirits/ wine etc at Gateway Distriparks Limited, Sector 6, Drongiri,
Taluka Urban District Raigad, Navi Mumbai-400707 or at any other places. |
|
Particulars of
the present modification |
By the present
modification the bank has increased PCL/FDBP/FUBP from Rs. 6.000 Millions to
Rs. 12.000 Millions All the terms and
conditions are previous agreements shall be effective and cooperative. |
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.50.09 |
|
UK Pound |
1 |
Rs.76.68 |
|
Euro |
1 |
Rs.63.48 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
|