BUSINESS INFORMATION REPORT
1. Summary Information
|
Company Name |
PARAS WEBCOAT PRIVATE LIMITED |
Principal Name 1 |
MR. KIRTIBHAI KHODABHAI PATEL |
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|
Status |
SATISFACTORY |
Principal Name 2 |
MR. NILESHBHAI KHODABHAI PATEL |
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Street Address |
2, Sunrise Park, Opposite Himalaya Mall,
Drive in Road, Bodakdev, Ahmedabad – 380 054, Gujarat, India |
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Established Date |
15.01.1991 |
SIC Code |
-- |
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Telephone# |
91-79-26856027 |
Business Style 1 |
MANUFACTURING |
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Fax # |
91-79-26856030 |
Business Style 2 |
EXPORTING |
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Homepage |
- |
Product Name 1 |
POLY COATED PAPER AND BOARDS |
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# of employees |
- |
Product Name 2 |
MACHINE AND MACHINE PARTS |
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|
Paid up capital |
Rs.2450000 |
Product Name 3 |
-- |
||
|
Shareholders |
Bodies
corporate (23.43%) Directors
or relatives of directors (51.02%) Other top fifty (50) shareholders (25.55%) |
Banking |
·
KALUPUR COMMERCIAL CO-OPERATIVE BANK LIMITED ·
IDBI BANK |
||
|
Public Limited Corp. |
No |
Business Period |
17 Years |
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|
IPO |
No |
International Ins. |
-- |
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Public Enterprise |
No |
Rating |
Ba |
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Related Company |
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Relation |
Country |
Company Name |
CEO |
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Associates : |
INDIA |
MAILLIS STRONG STREP PRIVATE LIMITED |
-- |
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Note |
- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
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|
Current Assets |
35,516,000 |
Current Liabilities |
12,247,000 |
|
Inventories |
3,818,000 |
Long-term Liabilities |
5,811,000 |
|
Fixed Assets |
12,649,000 |
Other Liabilities |
000 |
|
Deferred Assets |
99,000 |
Total Liabilities |
18,058,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
31,574,000 |
|
|
|
Net Worth |
34,024,000 |
|
Total Assets |
52,082,000 |
Total Liab. & Equity |
52,082,000 |
|
Total Assets (Previous Year) |
4,208,000 |
|
|
|
P/L Statement as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Sales |
53,696,000 |
Net Profit |
6,800,000 |
|
Sales(Previous yr) |
63,193,000 |
Net Profit(Prev.yr) |
2,572,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PARAS WEBCOAT PRIVATE LIMITED |
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|
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Registered Office : |
2, Sunrise Park, Opposite Himalaya Mall, Drive in Road, Bodakdev,
Ahmedabad – 380 054, Gujarat |
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|
Country : |
India |
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|
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|
Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
15.01.1991 |
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Com. Reg. No.: |
04-14902 |
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CIN No.: [Company
Identification No.] |
U25209GJ1991PTC014902 |
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|
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|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business : |
Manufacturer and
Exporter of Testing and Measuring Equipment |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 170000 |
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Trade relations are fair. Business is active. No complaints have been
heard. The company can be considered good for normal business dealings. |
LOCATIONS
|
Registered Office : |
2, Sunrise Park, Opposite Himalaya Mall, Drive in Road, Bodakdev,
Ahmedabad – 380 054, Gujarat, India |
|
Tel. No.: |
91-79-26856027 |
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Fax No.: |
91-79-26856030 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Kirtibhai Khodabhai Patel |
|
Designation : |
Director |
|
Address : |
27, Sudip Society – 2, Opposite Swagat Party Plot, Near Asopalav
Bunglow, Thaltej, Ahmedabad – 380 059, Gujarat, India |
|
Date of Birth/Age : |
13.09.1963 |
|
Date of Appointment : |
01.12.2004 |
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Name : |
Mr. Nileshbhai Khodabhai Patel |
|
Designation : |
Director |
|
Address : |
31, Sudip Society – 2, Opposite Swagat Party Plot, Near Asopalav
Bunglow, Thaltej, Ahmedabad – 380 059, Gujarat, India |
|
Date of Birth/Age : |
22.05.1970 |
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Date of Appointment : |
01.12.2004 |
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Name : |
Mr. Kirti Ramanlal Patel |
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Designation : |
Director |
|
Address : |
26, Sudip Society – 2, Opposite Swagat Party Plot, Near Asopalav
Bunglow, Thaltej, Ahmedabad – 380 059, Gujarat, India |
|
Date of Birth/Age : |
16.09.1968 |
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Date of Appointment : |
01.12.2004 |
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Name : |
Mr. Dipam Kanubhai Patel |
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Designation : |
Director |
|
Address : |
13, Vanshri Society, Drive in Road, Ahmedabad – 380 054, Gujarat,
India |
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Date of Birth/Age : |
26.04.1968 |
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Date of Appointment : |
16.06.2007 |
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|
Name : |
Mr. Ramanlal Prahladbhai Patel |
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Designation : |
Director |
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Address : |
26, Royal enclave, Near Ashopalav Bunglow, Near Swagat Bunglow,
Thaltej, Ahmedabad – 380 059, Gujarat, India |
|
Date of Birth/Age : |
01.04.1943 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 27.09.2008)
|
Names of Shareholders |
No. of Shares |
|
Ramanlal Prahladbhai |
840 |
|
Kirtibhai Khodabhai Patel |
395 |
|
Nileshbhai Khodabhai Patel |
395 |
|
Pramilaben Ramanlal Patel |
1000 |
|
Kalpeshbhai Ramanlal Patel |
50 |
|
Kirti Ramanlal Patel |
50 |
|
Kanubhai Ramdas Patel |
1630 |
|
Dipambhai Kanubhai Patel |
3120 |
|
Madhuben Kanubhai Patel |
1760 |
|
Hiraben Babaldas Patel |
480 |
|
Javis Marketing Private Limited |
5740 |
|
Alkaben Dipambhai Patel |
3450 |
|
Dignesh Pramukhbhai Patel |
2390 |
|
Jankiben Kirtikumar Patel |
500 |
|
Rashmi Nileshbhai Patel |
1100 |
|
Nitaben Kirtibhai Patel |
1100 |
|
Kamini Kalpeshbhai Patel |
500 |
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|
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|
Total |
24500 |
Equity share
breakup (percentage of total equity)
(As on
30.09.2008)
|
Category |
Percentage |
|
Bodies corporate |
23.43 |
|
Directors or relatives of
directors |
51.02 |
|
Other top fifty (50)
shareholders |
25.55 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Testing and Measuring Equipment |
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Products : |
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PRODUCTION STATUS
(As on 31.03.2008)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
LDPE Coating |
MT |
- |
2000 |
- |
|
Poly coated paper and boards (Own) |
MT |
- |
- |
488.04 |
|
Machine |
MT |
- |
- |
2.00 |
|
Machine Parts |
MT |
- |
- |
247.00 |
GENERAL
INFORMATION
|
Bankers : |
·
Kalupur Commercial Co-Operative Bank Limited ·
IDBI Bank |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Chandulal M Shah and Company Chartered Accountants |
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Address : |
601, Samruddhi, Opposite Sakar – III, Sattar Taluka Society, Ahmedabad
– 380 014, Gujarat, India |
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|
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Associates : |
Maillis Strong Strep Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity Shares |
Rs.100/- each |
Rs.3.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24500 |
Equity Shares |
Rs.100/- each |
Rs.2.450 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.450 |
2.450 |
2.450 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
31.574 |
24.774 |
22.203 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
34.024 |
27.224 |
24.653 |
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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 |
5.811 |
6.176 |
1.383 |
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TOTAL BORROWING |
5.811 |
6.176 |
1.383 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
39.835 |
33.400 |
26.036 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
12.649 |
5.916 |
8.826 |
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Capital work-in-progress |
0.000 |
3.121 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
1.423 |
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DEFERREX TAX ASSETS |
0.099 |
0.326 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Inventories |
3.818
|
3.029 |
6.967 |
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|
Sundry Debtors |
10.194
|
8.320 |
8.631 |
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|
Cash & Bank Balances |
2.903
|
0.704 |
1.184 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
22.419
|
20.664 |
9.812 |
|
Total
Current Assets |
39.334
|
32.717 |
26.594 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Current Liabilities |
4.168
|
4.327 |
7.628 |
|
|
Provisions |
8.079
|
4.353 |
3.179 |
|
Total
Current Liabilities |
12.247
|
8.680 |
10.807 |
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Net Current Assets |
27.087
|
24.037 |
15.787 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
39.835 |
33.400 |
26.036 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
53.696 |
63.193 |
55.503 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
53.696 |
63.193 |
55.503 |
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Profit/(Loss) Before Tax |
10.796 |
3.902 |
5.057 |
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Provision for Taxation |
3.996 |
1.330 |
1.708 |
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Profit/(Loss) After Tax |
6.800 |
2.572 |
3.349 |
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Expenditures : |
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Depreciation & Amortization |
1.966 |
0.863 |
1.373 |
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Other Expenditure |
40.934 |
58.428 |
49.073 |
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Total Expenditure |
42.900 |
59.291 |
50.446 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
12.66
|
4.07 |
6.03 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
20.11
|
6.17 |
9.11 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
20.77
|
10.10 |
14.28 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.14 |
0.21 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.53
|
0.55 |
0.49 |
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Current Ratio (Current Asset/Current Liability) |
|
3.21
|
3.77 |
2.46 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
|
Name of the company |
PARAS WEBCOAT PRIVATE LIMITED |
|
Presented By |
Girishbhai
Naranbhai Patel |
|
1) Date and description of instrument creating the change |
Deed of Principal
Hypothecation dated the 22nd day of August 1991 between M/s. Paras
Webcoat Private Limited (therein and hereinafter called the company”) of the
one part and Gujarat states Financial Corporation (therein and hereinafter
called ‘GSFC’) of the other part. No Instrument was
executed, but on the 22nf day of August 1991 the company created an Equitable
Mortgage in favour of Gujarat State Financial Corporation (GSFC) by
depositing title deeds and documents with GSFC, relating to company’s
immovable properties being freehold land admeasuring 6229.16 sq. mtrs.
situated at 189/1/A Part Plot No. 29, 30, 39 and 40 Ambica Industrial Estate
at Iyava Dist. Ahmedabad all in the state of Gujarat with intent to create a
security thereon as and by way of Equitable Mortgage pursuant to the
Resolution passed by its Board of Directors on the 18th day of
June 1991. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.438 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 |
The whole of the
moveable and immovable properties of the company including the company’s
movable plant and machinery, machinery spares, tools, accessories, furniture,
fittings, fixtures, equipments fixtures, Electrical installations, erections,
vehicles and other movables structures building godowns. Constructed or to be
constructed hereafter, both existing and future (save and except book debts)
(therein after collectively called ‘the said properties) |
The company is a small and medium sized
company (SMC) as defined in the general instructions in respect of accounting standards
notified under the companies act – 1956. Accordingly the company has complied
with the accounting standards as applicable to SMC.
Fixed Assets
·
Factory Land
·
Factory Building
·
Plant and Machinery
·
Electrical Installation
·
Office Equipments
·
Computer
·
Tools and Jigs
·
Testing Equipments
·
Electronic Scale
·
Water Bore Installation
·
Furniture and Fixtures
·
Vehicles
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.48.52 |
|
UK Pound |
1 |
Rs.72.62 |
|
Euro |
1 |
Rs.63.76 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--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 |
|