MIRA
INFORM REPORT
|
Report Date : |
06.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PALLAVI MARKETING PRIVATE LIMITED |
|
|
|
|
Registered Office : |
6 and 7 Ground Floor, Ashoka Place, Exbition Road, Patna, Bihar -
800001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
18.09.1996 |
|
|
|
|
Com. Reg. No.: |
007469 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51505BR1996PTC007469 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PTNP00130E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCP3711F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading of TV Sets, Washing Machines, Refrigerators. |
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 63260 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having satisfactory track. Trade relations are reported as fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
6 and 7 Ground Floor, Ashoka Place, Exbition Road, Patna, Bihar -
800001 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
8, Aditya Arcade, Exhibition Road, Patna, Bihar – 800001, India |
|
Tel. No.: |
91-612-2321764 / 1461 |
|
Fax No.: |
91-612-2321464 |
DIRECTORS
|
Name : |
Mr. Shyam Lohia |
|
Designation : |
Director |
|
Address : |
Pushp Vihar Apartment, Exhibition Road, PAtna, Bihar – 800001 |
|
Date of Birth/Age : |
15.05.1961 |
|
Qualification : |
Graduate |
|
Experience : |
15 Years |
|
Date of Appointment : |
18.09.2006 |
|
|
|
|
Name : |
Mr. Shambhu Dayal Agarwal |
|
Designation : |
Director |
|
Date of Birth/Age : |
26.10.1951 |
|
Qualification : |
Graduate |
|
Experience : |
+ 30 years |
|
Date of Appointment : |
18.09.1996 |
|
|
|
|
Name : |
Mr. Ajay Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
Dwarka Kunj Road No. 12, Rajendra Nagar, Patana, Bihar -
800016 |
|
Date of Birth/Age : |
06.06.1969 |
|
Date of Appointment : |
02.01.2001 |
|
|
|
|
Name : |
Mrs. Shakuntala Devi Lohia |
|
Designation : |
Director |
|
Address : |
Pushp Vihar Apartment, Exhibition Road, PAtna, Bihar – 800001 |
|
Date of Birth/Age : |
15.08.1966 |
|
Date of Appointment : |
02.01.2001 |
|
|
|
|
Name : |
Mrs. Sushila Devi Agrawal |
|
Designation : |
Director |
|
Address : |
Dwarka Kunj Road No. 12, Rajendra Nagar, Patana, Bihar –
800016 |
|
Date of Birth/Age : |
18.06.1951 |
|
Date of Appointment : |
28.07.2000 |
|
|
|
|
Name : |
Dimple Agarwal |
|
Designation : |
Director |
|
Date of Birth/Age : |
19.05.1977 |
|
Date of Appointment : |
02.01.2001 |
MAJOR SHAREHOLDERS
As on 30.06.2003
|
Names of Shareholders |
No. of Shares |
|
Mr. S. D. Agarwal |
99200 |
|
Mr. Shyam Lohia |
155000 |
|
Mr. Ajay Kumar |
20000 |
|
Mrs. Sushiladevi Agarwal |
34100 |
|
Sri Vaishnavi Agro India Private Limited |
50000 |
|
Integral Traders & Communication Private Limited |
50000 |
|
Mr. Sangeeta Mishra |
2000 |
|
Mr. Durga Shankar Mishra |
2000 |
|
|
|
Equity Share Breakup (As on 30.09.2007 )
|
Sr. no. |
Category |
Percentage |
|
1. |
Bodies Corporate |
39.08 |
|
2. |
Directors or Relatives of directors |
56.48 |
|
3. |
Other top fifty (50) shareholders |
4.44 |
|
|
Total |
100 % |
BUSINESS DETAILS
|
Line of Business : |
Trading of TV Sets, Washing Machines, Refrigerators. |
|
|
|
|
Agencies Held : |
v Samsung India Electronics Limited |
|
|
|
GENERAL
INFORMATION
|
Customers : |
Retailers |
|
|
|
|
No. of Employees : |
17 |
|
|
|
|
Bankers : |
Specialised Commercial Branch, Dak Bunglow Road, Patna, Bihar
|
|
|
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Singhania Agarwal and Company Chartered Accountants |
|
Address : |
411, N.P. Centre, New Dakbunflow Road, Patna, Bihar - 800001 |
|
|
|
|
Associates : |
v Agarwal Sadi Cards, Patna, Bihar Manufacturers of all types of cards v Agarwal Stationers, Patna, Bihar v Bawa Sales Private Limited, Patna, Bihar |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
580000 |
Equity Shares |
Rs.10/- Each |
Rs.5.800 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
563000 |
Equity Shares |
Rs.10/- Each |
Rs.5.630
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.630 |
5.630 |
5.630 |
|
|
2] Share Application Money |
0.000 |
0.050 |
0.050 |
|
|
3] Reserves & Surplus |
10.185 |
9.418 |
8.692 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.815 |
15.098 |
14.372 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.712 |
6.373 |
7.285 |
|
|
2] Unsecured Loans |
4.326 |
2.911 |
2.958 |
|
|
TOTAL BORROWING |
10.038 |
9.284 |
10.243 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.853 |
24.382 |
24.615 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.913 |
0.871 |
1.185 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.075 |
0.065 |
0.030 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.686
|
5.541 |
8.221 |
|
|
Sundry Debtors |
12.624
|
15.122 |
11.485 |
|
|
Cash & Bank Balances |
1.521
|
0.314 |
0.704 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.127
|
3.041 |
5.241 |
|
Total
Current Assets |
25.958
|
24.018 |
25.651 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.167
|
0.092 |
0.192 |
|
|
Provisions |
0.926
|
0.480 |
2.059 |
|
Total
Current Liabilities |
1.093
|
0.572 |
2.251 |
|
|
Net Current Assets |
24.865
|
23.446 |
23.400 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.853 |
24.382 |
24.615 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
195.457 |
215.920 |
|
|
Other Income |
|
4.140 |
1.472 |
|
|
Total Income |
|
199.597 |
217.392 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
1.224 |
1.317 |
|
|
Provision for Taxation |
|
0.457 |
0.591 |
|
|
Profit/(Loss) After Tax |
|
0.767 |
0.726 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Change in Stock |
|
(2.145) |
1.676 |
|
|
Financial Charges |
|
1.133 |
0.891 |
|
|
Depreciation & Amortization |
|
0.253 |
0.314 |
|
|
Other Expenditure |
|
199.132 |
213.194 |
|
Total Expenditure |
|
198.373 |
216.075 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.38
|
0.33 |
--- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.62
|
0.60 |
--- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.55
|
5.29 |
--- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.08 |
--- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.70
|
0.65 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
23.74
|
41.98 |
11.39 |
LOCAL AGENCY FURTHER
INFORMATION
Trade Reference
v Samsung India Electronics Limited
v Samsung Electronics India Information & Telecommunication Limited
Form 8
|
Name of the company |
PALLAVI MARKETING PRIVATE LIMITED |
|
Presented By |
Shri. Shyam Lohia |
|
1) Date and description of instrument creating the change |
08.10.1996 Hypothecation of
goods and assets and agreement of loan for over draft limit registered on
14.02.1997 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Cash credit
(stock) Rs.3.100 Millions Cash Credit (B.
Debts) Rs.0.900 Million Overall fund
limit Of Rs.4.000 Millions 1st
modification on 20.09.2000 to increase to cash credit (Stock) Rs. 4.100 Millions
cash credit (B. Debts ) Rs. 1.900 Millions Bank guarantee of Rs.0.500 Million
Overall fund limit to Rs. 6.500 millions and registered on 23.10.2000 |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
By hypothecation
of stock of inventory, book debts and other movable assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Repayable on
demand the rate of interest applicable shall be charged by bank of the rate
1.75 % over the SBI advanced rate with minimum of 13.25 % p.a. with interest
tax. It may be changed from time to time margin stock 30 % and book debts
margin 50 % |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
India, Industrial Finance Branch, Patna - 1 |
|
6) Date and brief description of instrument modifying the charge |
20.03.2002 Supplemmental Agreement
of Loan for increase in the overall limit supplemental agreement of
hypothecation of goods and assets for increase in the overall limit. Letter regarding
the grant of individual limit within the overall limit Letter of
undertaking by company for not to create any further charge over property and
asset including uncalled capital. |
|
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. |
Original working
capital loan was earlier increased to Rs. 6.500 Millions on 20.09.2000and
original loan is further increased to Rs. 9.500 Millions as cash credit (stock) Rs.4.000 millions
cash credit (B. Debts) Rs.5.000 Millions Bank guarantee of Rs.0.500 Million. |
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.40.55 |
|
UK Pound |
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.62.74 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|