MIRA
INFORM REPORT
|
Report Date : |
04.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRABHAT CONTAINERS PRIVATE LIMITED |
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Registered Office : |
C 10-B, Kanti Nagar, Delhi 110051 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04.01.1995 |
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Com. Reg. No.: |
55-64065 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC064065 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP06507E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of all variety and style of Corrugated Boxes, Mono Cartons, Pallets, Fancy Boxes etc. |
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 11292 |
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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 normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
C 10-B, Kanti Nagar, Delhi 110051, India |
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E-Mail : |
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Factory 1 : |
A – 48, Sector 63, Noida 201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-2400293 / 2400296 |
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Fax No.: |
91-120-2400293 / 2400296 |
DIRECTORS
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Name : |
Mrs. Anjana Verma |
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Designation : |
Director |
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Address : |
A – 2/406, Silver Estate, F-29, Sector 50, Noida 201301, Uttar
Pradesh, India |
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Date of Birth/Age : |
13.02.1967 |
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Date of Appointment : |
04.01.1995 |
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Name : |
Mr. Naveen Kumar |
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Designation : |
Director |
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Address : |
A – 2/406, Silver Estate, F-29, Sector 50, Noida 201301, Uttar
Pradesh, India |
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Mobile No. : |
91-9212715930 |
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Date of Birth/Age : |
18.10.1963 |
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Date of Appointment : |
04.01.1995 |
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Name : |
Mrs. Shobha Chatrath |
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Designation : |
Director |
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Address : |
133, Old Anarkali, Krishna Nagar, Delhi 110051, India |
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Date of Birth/Age : |
25.11.1957 |
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Date of Appointment : |
04.01.1995 |
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Name : |
Mr. Dinesh Kumar |
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Designation : |
Director |
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Address : |
133, Old Anarkali Krishna Nagar, Delhi 110051, India |
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Mobile No. : |
91-9810236176 |
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Date of Birth/Age : |
18.03.1953 |
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Date of Appointment : |
04.01.1995 |
KEY EXECUTIVES
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Name : |
Agarwal Manish and Associates |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
|
Naveen Kumar |
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3200 |
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Dinesh Kumar |
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3200 |
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Rajesh Kumar |
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800 |
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Rajeev Kumar |
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750 |
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Praveen Kumar |
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500 |
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Raghu Nath Singh |
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500 |
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Anjana |
|
2140 |
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Shobha |
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2140 |
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Rajesh Kumar |
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600 |
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Total |
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13830 |
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Equity Share
Break-up |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of all variety and style of Corrugated Boxes, Mono Cartons, Pallets, Fancy Boxes etc. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
SSI Branch, B-12,
Sector 60, Noida 201303, Uttar Pradesh, India
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kushwah and Company Chartered Accountants |
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Address : |
III-J-50, Nehru Nagar, Ghaziabad 201001, Uttar Pradesh, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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13830 |
Equity Shares |
Rs. 100/- each
|
Rs. 1.383
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.383 |
1.383 |
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2] Share Application Money |
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0.496 |
0.496 |
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3] Reserves & Surplus |
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0.944 |
0.705 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.823 |
2.584 |
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LOAN FUNDS |
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1] Secured Loans |
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4.152 |
3.408 |
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2] Unsecured Loans |
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9.289 |
5.376 |
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TOTAL BORROWING |
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13.441 |
8.784 |
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DEFERRED TAX LIABILITIES |
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0.133 |
0.099 |
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TOTAL |
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16.397 |
11.467 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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9.627 |
7.766 |
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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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0.086 |
0.041 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.837 |
3.934 |
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Sundry Debtors |
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6.389 |
3.705 |
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Cash & Bank Balances |
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0.040 |
0.013 |
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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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0.920 |
1.608 |
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Total
Current Assets |
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12.186 |
9.260 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.502 |
5.600 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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5.502 |
5.600 |
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Net Current Assets |
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6.684 |
3.660 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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16.397 |
11.467 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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19.014 |
9.349 |
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Other Income |
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0.625 |
0.505 |
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Job work Received |
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0.032 |
0.000 |
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Total Income |
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19.671 |
9.854 |
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Profit/(Loss) Before Tax |
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0.273 |
(0.107) |
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Provision for Taxation |
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0.033 |
0.023 |
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Profit/(Loss) After Tax |
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0.240 |
(0.130) |
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Expenditures : |
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Raw Material and Manufacturing Expenses |
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15.924 |
7.211 |
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Administrative Expenses |
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2.267 |
1.490 |
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Financial Charges |
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0.336 |
0.466 |
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Depreciation & Amortization |
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0.871 |
0.794 |
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Other Expenditure |
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Total Expenditure |
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19.398 |
9.961 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.22 |
(1.32) |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.43 |
(1.14) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.25 |
(0.63) |
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Return on Investment (ROI) (PBT/Networth) |
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0.10 |
(0.04) |
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Debt Equity Ratio (Total Liability/Networth) |
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6.71 |
5.56 |
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Current Ratio (Current Asset/Current Liability) |
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2.21 |
1.65 |
LOCAL AGENCY FURTHER
INFORMATION
Form 8
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Corporate
identity number of the company |
U74899DL1995PTC064065 |
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Name of the
company |
PRABHAT
CONTAINERS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
C – 10B, Kanti
Nagar, Delhi 110051, India |
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This form is for |
Modification of
charge |
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Type of charge |
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Particular of charge
holder |
Vijaya Bank SSI
Branch B-12, Sector 60,
Noida 201303, Uttar Pradesh, India |
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Nature of
instrument creating charge |
NA |
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Date of
instrument Creating the charge |
NA |
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Amount secured by
the charge |
Rs. 0.500 Million
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Brief of the
principal terms an conditions and extent and operation of the charge |
Interest 3% over
the Vijaya Bank’s Prime Lending rate subject to change from time to time with
a minimum of 15.50% p.a. overdue interest 2% p.a. Lastly modified on
07.05.2005 for CC[H] Limit of Rs. 2.500 Millions |
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Description of
the property charged |
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Particulars of
the property charged |
The whole of the
borrowers present and future stock of raw material, goods in process or
manufacture and all finished goods and articles such as corrugated boxes,
Card Board etc. belonging to the borrower lying at B-59D, Sector 62, Noida or
lying at any other place and hypothecation of all Book Debts and Receivables,
Hypothecation of all plant and machinery.
Collaterally secured by land and building situated at B-59D, Sector
62, Noida |
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Charge
Identification Number of the charge to be modified |
80005773 |
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Brief description
of the instrument modifying the charge under section 135 |
Supplementary
Agreement |
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Date of
instrument modifying the charge |
22.06.2006 |
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Particulars of
the present modification |
CC[H] Limit of
Rs. 2.500 Millions renewed upto 30.03.2007, Rate of Interest 11.50% p.a. |
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Name of the company |
PRABHAT
CONTAINERS PRIVATE LIMITED |
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Presented By |
Vijaya bank, SSI
Branch, Noida |
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1) Date and description of instrument creating the change |
Hypothecation Agreement dated 09.08.2005 Memorandum dated 09.08.2005 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 0.800
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 |
Hypothecation of
one single heavy duty platen, cutting, Punching, greasing, Magnate Clutch
Machine, Value Rs. 1.300 Millions lying at A-48, Sector 63, Noida
Collaterally secured by land and building situated at B-59D, Sector 62,
Noida, Uttar Pradesh, India |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Loan is repayable
in 60 EMIs of Rs. 0.018 Millions each commencing from 09.09.2005, Rate of
interest is 12.50% p.a. Overdue interest 2% p.a. in case of default. |
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5) Name and Address and description of the person entitled to the
charge. |
Vijaya Bank SSI
Branch B-12, Sector 60,
Noida 201303, Uttar Pradesh, India |
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6) Date and brief description
of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
NA |
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. 40.26 |
|
UK Pound |
1 |
Rs. 79.88 |
|
Euro |
1 |
Rs. 61.26 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
|