MIRA
INFORM REPORT
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Report Date : |
14.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
PARLE
TOOLS INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
503,
Vyom Arcade, 5th Floor, Vir Baji Prabhu Deshpande Marg, Opposite
Eupharma, off Subhash Road, Vile Parle [East], Mumbai - 400057, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.12.2005 |
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Com. Reg. No.: |
11-158506 |
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CIN No.: [Company
Identification No.] |
U29297MH2005PTC158506 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP21542D |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business : |
Manufacturer,
Exporters and Importer of spares and components, dies and punches. |
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 35000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established merchant exporter of pharmaceutical machinery and appears to be
doing well. The company is a part of
Parle Tool Group. Trade relations are
fair. Payments are usually correct and as per commitments. The company can
be considered good for normal business dealings at usual trade terms. |
INFORMATION PARTED
BY
|
Name : |
Mr. Ravi Kiran |
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Designation : |
Executive Accountant |
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Date : |
12.06.2008 |
LOCATIONS
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Registered Office : |
503,
Vyom Arcade, 5th Floor, Vir Baji Prabhu Deshpande Marg, Opposite
Eupharma, off Subhash Road, Vile Parle [East], Mumbai - 400057, Maharashtra,
India |
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Tel. No.: |
91-22-26827005 |
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Fax No.: |
91-22-26826729
/ 26834866 |
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E-Mail : |
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Website : |
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Area : |
1500
sq. fts. |
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Location : |
Leased
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Corporate
Office: |
5th floor, Vyom Arcade, Vir
Bajiprabhu Deshpande Marg, Near Garware, Vile Parle (E), Mumbai - 400 057, Maharashtra,
India. |
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Tel. No.: |
91-22-26827005 |
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Fax No.: |
91-22-26834866 |
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Head Office : |
7th
Floor, B Wing, “Mangalya”, Off. Marol Maroshi Road, Andheri [East], Mumbai –
400059, Maharashtra, India |
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Tel. No.: |
91-22-40300000
/ 28527001 |
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Fax No.: |
91-22-40300099 / 28527025 |
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E-Mail : |
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Website : |
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Branch Offices: |
BANGALORE: Tel : 91 - 80 - 2323 2208 / 65322255 CHENNAI : 1st Floor, No. J - 95, Bharati Street, Pari Nagar, Jaffer Khan Pet,
Chennai - 600 083, India. Tel : 91-44-6538 0054. Fax No.: 91-44-23712586 HYDERABAD: |
DIRECTORS
|
Name : |
Mr. Mahendra Mehta |
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Designation : |
Director |
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Address : |
702, Prangan Society, Malavia Road, Vile Parle (East),
Mumbai – 400 057, Maharashtra, India |
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Date of Birth/Age : |
35
Years |
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Qualification : |
Graduate |
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Date of Appointment : |
30.12.2010 |
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Name : |
Mr. Rajmal Mehta |
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Designation : |
Director |
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Address : |
702, Prangan Society, Malavia Road, Vile Parle (East),
Mumbai – 400 057, Maharashtra, India |
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Date of Birth/Age : |
60
Years |
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Qualification : |
Graduate |
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Experience : |
Pharmacist |
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Date of Appointment : |
30.12.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Mr.
Rajmal Mehta |
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5000 |
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Mr.
Mahendra Mehta |
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5000 |
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Total |
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10000 |
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Equity Share Break-up [As on 31.03.2007] |
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Percentage of
Holding |
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Directors or
relatives of the Directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Exporters and Importer of spares and components, dies and punches. |
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Products: |
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Exports : |
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Products: |
Dies
and punches |
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Countries : |
Korea,
U.S.A and U. K. |
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Imports : |
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Products: |
Spares
and components |
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Countries : |
Korea |
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Terms : |
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Selling : |
L/C,
Credit, D/P or Advance Payments terms |
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Purchasing : |
Credit,
D/P terms |
GENERAL
INFORMATION
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Customers : |
End
Users And Pharmaceutical Industry |
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No. of Employees : |
10 |
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Bankers : |
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Facilities: |
C/C |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
R. U. Jain and
Company Chartered
Accountant |
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Address : |
8, Godavari
Niwas, 2nd Floor, Sradhanand Road, Vile Parle [East], Mumbai –
400057, Maharashtra, India |
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Associates/Subsidiaries : |
Parle Tablet
Tools Private Limited Plot No. 2 , Rajvaibhav Bldg., Rajhans Industrial Area, Chinchpada,
Vasai Raod, Thane - 401 208 , India. Parle Pharma
Machineries Office :: Factory: |
CAPITAL STRUCTURE
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
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6.907 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
(0.019) |
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NETWORTH |
|
7.007 |
0.081 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.060 |
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TOTAL BORROWING |
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0.000 |
0.060 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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7.007 |
0.141 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.236 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.047 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.435 |
0.000 |
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Sundry Debtors |
|
4.780 |
0.000 |
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Cash & Bank Balances |
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1.051 |
0.021 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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7.262 |
0.004 |
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Total
Current Assets |
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13.528 |
0.025 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.187 |
0.005 |
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Provisions |
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3.725 |
0.000 |
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Total
Current Liabilities |
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6.912 |
0.005 |
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Net Current Assets |
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6.616 |
0.020 |
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MISCELLANEOUS EXPENSES |
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0.108 |
0.121 |
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TOTAL |
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7.007 |
0.141 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Total Income |
|
28.174 |
NA |
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Profit/(Loss) Before Tax |
|
10.769 |
[0.019] |
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Provision for Taxation |
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-- |
-- |
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Profit/(Loss) After Tax |
|
10.769 |
[0.019] |
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Expenditures : |
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Interest |
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0.195 |
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Depreciation & Amortization |
|
0.005 |
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Other Expenditure |
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17.205 |
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Total Expenditure |
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17.405 |
0.019 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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38.22 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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38.22 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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78.25 |
76.00 |
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Return on Investment (ROI) (PBT/Networth) |
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1.54 |
0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.99 |
0.80 |
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Current Ratio (Current Asset/Current Liability) |
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1.96 |
5.00 |
LOCAL AGENCY
FURTHER INFORMATION
Business
To carry on the business
of manufacturer, trader, buyer, seller, exporter, importer, distributor,
supplier, assembler, designer, developer, fabricator, engineer, repairer, let
on hire and dealer of all kinds of machinery, plant equipments, tools,
measuring instruments, checking equipments engineering tools, measuring
instruments, checking equipment appliances, apparatus used by Pharmaceutical
Industry in particulars and by other industry in general.
AS PER WEBSITE DETAILS:
PROFILE
The
Parle Group is committed to its endeavor of being a “TOTAL SOLUTION
PROVIDER” to the Indian industry.
The
Parle Group identified that the Indian market was thirsting for
state-of-the-art technologies in Pharmaceutical, Foods, FMCG segments for
Processing and Packaging equipments.
This
resulted in formation of Parle Tools International Pvt. Ltd. (PTIPL).
PTIPL
began by joining hands with a select group of world class organizations from
various countries viz. Korea, Taiwan, Italy, Germany, U.K., Japan etc.
This
endeavor which began in the year 1996 has led them to be associated with many
Pharmaceutical leaders resulting in 200+ installations in a short span of 9
years.
PTIPL
is located in Mumbai which is a bustling metropolis which is on the move 24 x
7.
Mumbai
being India’s Financial Capital has major corporate offices concentrated within
in its limits. Mumbai has proximity to a sea port and also hosts an
International Airport which makes it a important destination logistically.
The
PTIPL team comprises of highly motivated, Marketing Managers, Service
Engineers, Marketing and Service Coordinators.
All
of them work with dedication towards a common cause of continuously expanding
the Customer and Principal base and satisfying their service needs.
They
have already established theirselves as leaders in providing cutting edge
imported technology to their pharmaceutical clientele.
PTIPL
has now forayed into the Foods and Beverage/Non Pharmaceutical (F & B / Non
Pharma) segment with the same zeal.
They
have already begun making inroads in this segment and intend to grow multifold
in the near future.
They have their marketing and service offices network in Mumbai,
Bangalore, Chennai and Hyderabad, with plans to open branch offices in Delhi,
Ahmedabad and Calcutta in the near future.
HISTORY
1974 Intiated
tooling manufacturing, as Parle Industrial products as a proprietory concern.
1981 Shifted
manufacturing facility to Vasai near Mumbai.
1983 Converted
to PARLE TABLET TOOLS (PTT), a Private Limited Company.
1987 Started
exporting Quality Tablet Tooling to the world market.
1991 Acquired
a complete one roof in-house manufacturing facility.
1996 Formed
a division of PTT named PARLE TOOLS INTERNATIONAL PVT LTD
1996 Emerged
as one of the market leaders in tablet tooling.
1997 Formed
and established an association with SEJONG PHARMATECH CO. LTD, KOREA (formerly
SEJONG MACHINERY CO. LTD).First delegation taken to COEX show at Korea.
1998 Formed
a division of PTT named PARLE PHARMA MACHINERY (PPM) to supply spares and
accessories for the pharmaceutical and allied industry.
1999 Acquired
a "COMPLETE ONE ROOF IN-HOUSE" manufacturing facility. The
manufacturing unit was shifted to a bigger and more self sufficient location
with total in-house facility covering an area of 12,000 sq. ft., forming one of
the largest units in Asia.
Also PARLE TOOLS INTERNATIONAL (PTI), the export division of the Parle
Group was formed.
2000 Additions
of their existing set up of CNC machines, wire
cutting using Electron Discharge Technology, a profile projector, CNC milling
machine for making of masters, a multidimensional inspection kit from Japan,
etc.
New associations with KWANG DAH ENTERPRISES CO. LTD, TAIWAN
2001 Associated
with HOONG-A CORPORATION, KOREA providers of blister packing solutions to the
pharmaceutical industry.
2002 Corporate
office at Vyom Arcade. Parle participated in "INTERPHEX", exhibition
in USA.
2003 ISO
& ERP introduced. Parle participated in "ACHEMA" exhibition in
Germany,associated with ACE PACKER from Korea.
2004 ISO
certification for Parle Tablet Tools Pvt. Ltd. Associated with COSMEC from
Italy, SKY SOFTGEL from Korea. NIMA-ERRE. TI from Italy. DOSA from Italy, ROTA
from Germany, CMPDi PILASTRO from Italy, NOW SYSTEMS from Korea, SOLPAC from
Korea.
2005 Parle
Tools International shifted to new office, associated with GR Enginnering Co.
from Korea. VISWILL from Japan.
2006 Parle
Pharma Machineries (PPM) became seperate SBU.
Parle Pharma Machineries
acquired "Magnose Engineering Company" Entered in to " Food
& Beverage" segment & sold first machine."Parle Tools
International " became Private Limited Company.
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.42.87 |
|
UK Pound |
1 |
Rs.83.41 |
|
Euro |
1 |
Rs.66.11 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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/normal. |
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 |
|