MIRA
INFORM REPORT
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Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRASAD GWK COOLTECH PRIVATE LIMITED |
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Registered Office : |
Plot No.14 and 16, Phase 1, GIDC Industrial Estate,
Vatva, Ahmedabad – 382 445, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.01.1998 |
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Com. Reg. No.: |
04-33558 |
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CIN No.: [Company
Identification No.] |
U29190GJ1998PTC033558 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMP00340E |
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PAN No.: [Permanent
Account No.] |
AABCP4965D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing Water Chiller, Central Cooling Plants and
Mould Temperature Controllers. |
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 120000 |
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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 relatios 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. |
LOCATIONS
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Registered Office/ Factory : |
Plot No.14 and 16, Phase 1, GIDC Industrial
Estate, Vatva, Ahmedabad – 382 445, Gujarat, India |
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Tel. No.: |
91-79-25830112/ 25890687/ 25824323 |
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Fax No.: |
91-79-25830129 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Prakash Hemendra Shah |
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Designation : |
Chairman |
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Address : |
22, Sweet Home Society, Ambawadi, Ahmedabad |
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Date of Birth/Age : |
13.11.1944 |
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Date of Appointment : |
13.01.1998 |
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Name : |
Mr. Bhavin Hemendra Shah |
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Designation : |
Managing Director |
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Address : |
13, Niyojan Nagar, Ambawadi, Ahmedabad |
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Date of Birth/Age : |
09.09.1963 |
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Date of Appointment : |
13.01.1998 |
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Name : |
Mr. Reinhard Josef Zeppenfeld |
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Designation : |
Director |
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Address : |
Rilkeweg, D-58566, Kierspe, Germany |
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Date of Appointment : |
13.01.1998 |
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Name : |
Mr. Helmut Hans Gries |
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Designation : |
Director |
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Address : |
Lieberhausen, Gartenweg – 14, S 1674, Gummersba CH, Germany |
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Date of Appointment : |
13.01.1998 |
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Date of Ceasing : |
05.12.2006 |
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Name : |
Mr. Patrick Reinhard Zeppenfeld |
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Designation : |
Director |
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Address : |
Linenstr 4, Kierspe, Germany |
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Date of Appointment : |
05.12.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Prakash Hemendra Shah |
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60000 |
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Bhavin Hemendra Shah |
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60000 |
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Reinhard Josef Zeppenfeld |
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200000 |
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Druv Prakash Shah |
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20000 |
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Prasad Machinery Private Limited |
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20000 |
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Surekhaben Prakash Shah |
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20000 |
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Pritiben Bhavin Shah |
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20000 |
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Total |
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400000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing Water Chiller, Central Cooling Plants and
Mould Temperature Controllers. |
GENERAL
INFORMATION
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Dinesh R Shah and Company Chartered Accountant |
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Address : |
51 Madhuban Bunglow, 5th Floor, Near Madalpur Underbridge, Ellisbridge,
Ahmedabad – 380 006, Gujarat, India |
CAPITAL STRUCTURE
(As On 29.09.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.000 |
4.000 |
4.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
20.372 |
13.855 |
9.122 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
24.372 |
17.855 |
13.122 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.004 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.004 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
24.372 |
17.855 |
13.126 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.389 |
2.535 |
1.568 |
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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 |
0.008 |
0.003 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
17.493
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13.316 |
9.796 |
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Sundry Debtors |
14.032
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13.676 |
7.487 |
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Cash & Bank Balances |
18.416
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6.110 |
7.074 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
10.957
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6.121 |
2.016 |
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Total
Current Assets |
60.898
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39.223 |
26.373 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
33.326
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19.314 |
12.196 |
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Provisions |
5.602
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4.601 |
2.632 |
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Total
Current Liabilities |
38.928
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23.915 |
14.828 |
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Net Current Assets |
21.970
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15.308 |
11.545 |
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MISCELLANEOUS EXPENSES |
0.005 |
0.009 |
0.013 |
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TOTAL |
24.372 |
17.855 |
13.126 |
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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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149.743 |
107.250 |
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149.743 |
107.250 |
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Profit/(Loss) Before Tax |
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9.938 |
7.013 |
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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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9.938 |
7.013 |
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Earnings in Foreign Currency : |
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Export Earnings |
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15.640 |
14.376 |
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Imports : |
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Raw Materials |
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8.911 |
7.491 |
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Total Expenditure |
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139.805 |
100.237 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
6.64
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6.54 |
N.A |
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Net Profit Margin (PBT/Sales) |
(%) |
6.64
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6.54 |
N.A |
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Return on Total Assets (PBT/Total Assets} |
(%) |
15.70
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16.79 |
N.A |
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Return on Investment (ROI) (PBT/Networth) |
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0.41
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0.39 |
N.A |
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Debt Equity Ratio (Total Liability/Networth) |
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1.59
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1.33 |
1.13 |
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Current Ratio (Current Asset/Current Liability) |
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1.56
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1.64 |
1.77 |
LOCAL AGENCY
FURTHER INFORMATION
Operations:
The net sales of the Company during the financial year at Rs.14.280 Millions
recording an increase over the last financial year at Rs.10.270 Millions. The
Directors are expecting better result. However the competition from market is
still an issue and the only remedy is to become more cost effective and quality
conscious. The result was satisfactory. During the year Company has incurred
Capital expenditure of Rs.0.632 Million (Previous Year Rs.1.575 Millions)
The Company has
earned a net profit of Rs.9.938 Millions (Previous year Rs.7.013 Millions)
after provision for taxation.
Fixed Assets
- Plant and Machinery
- Furniture and Fixture
- Electric Installation
- Testing Equipment
- Tools
- Office Equipment
- Computer
- Water Cooler
- Motor Car
- Air Conditioner
Form 8
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Name of the company |
PRASAD GWK
COOLTECH PRIVATE LIMITED |
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Presented By |
Shri Prakash H. Sha |
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1) Date and description of instrument creating the change |
Date: 05.01.2000 Hypothecation of
Debts and Movable Assets. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.000 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 |
All present and
future Book Debts and Stocks of the Company. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India, Satva Industrial Estate Branch, GIDC Vatva,
Ahmedabad, Gujarat, India |
Prasad Group
Prasad Group of companies - a technology oriented company started operations
in 1989 with India’s biggest and most sophisticated infrastructure for
manufacturing Plastic Processing Machinery. Based in Ahmedabad, the company is
known for producing world-class Plastic Auxiliary Equipments.
Automation, sophistication and up gradation of technology is the need of the
hour and the company caters to just that. Responding to the ever growing
demands of cost efficient automation solutions, the company constantly keeps in
touch with the latest innovations and technologies.
Philosophy
The Company’s philosophy all through has been ‘Economy through Automation’. The
company strongly believes that technology if used effectively can make plastic
processing economical and productive.
Quality Assurance
Being an ISO 9001:2000 company, the company has well defined systems which
ensure quality production. Technically skilled professionals supported with
excellent production facilities and quality control instruments help the
company maintain quality. The company has also adopted CE standards for its
products.
Infrastructure
Spread across 50,000 sq. m the company is equipped with the latest machinery
and enough production capacity. The state-of-the-art manufacturing facility is
equipped with the latest technology and can meet any kind of production
challenge.
Team
The Company’s greatest source of strength and inspiration lies in the manpower.
The company’s extremely dedicated and professional staff is technically
qualified to meet the production challenges. The company believes in constant
updating and upgrading and hence continuous capacity enhancement of the team is
a continuous process at Prasad.
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.47.18 |
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UK Pound |
1 |
Rs.75.05 |
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Euro |
1 |
Rs.60.89 |
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 |
YES |
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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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