MIRA
INFORM REPORT
|
Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PRESTO STANTEST PRIVATE LIMITED |
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Registered Office : |
C-117, FF Complex, Okhla Industrial Area, Phase-III, New Delhi, Delhi-110020 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.06.1997 |
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Com. Reg. No.: |
55-87892 |
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CIN No.: [Company
Identification No.] |
U33125DL1997PTC087892 |
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IEC No.: |
0502019158 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP06795F |
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PAN No.: [Permanent
Account No.] |
AACP9778K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Quality Testing Equipments and Material Testing
Equipments |
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 34000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Payments are reported as slow but correct. General
Financial position is satisfactory. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Hemant Shah |
|
Designation : |
Accountant Manager |
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Contact No.: |
91-9899410810 |
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Date : |
13.11.2008 |
LOCATIONS
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Registered Office : |
C-117, FF Complex, Okhla Industrial Area, Phase-III, New Delhi,
Delhi-110020, India |
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Tel. No.: |
91-129-4085000 |
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Mobile No.: |
91-9899410810 |
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Fax No.: |
91-129-4083111 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Corporate Office : |
II / 10A DLF Industrial Area, Phase-I, Delhi, Faridabad,
Haryana-121003, India |
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Area : |
Owned |
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Factory : |
18A/4 and 5, DLF, Industrial Area, Phase-1, Delhi Mathura Road,
Faridabad-121003, Haryana, India |
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Tel. No.: |
91-129-4085000 |
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Fax No.: |
91-129-4083111 |
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E-Mail : |
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Area : |
500 sq.ft (Owned) |
DIRECTORS
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Name : |
Mr. Vishal Malhotra |
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Designation : |
Whole-time-Director |
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Address : |
House No. 7, Block IV, Erose Garden, Faridabad-121009, Haryana, India |
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Date of Birth/Age : |
08.09.1972 |
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Qualification : |
B. Tech |
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Date of Appointment : |
20.06.1997 |
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Name : |
Mr. Gaurav Malhotra |
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Designation : |
Whole-time-Director |
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Address : |
House No. 7, Block IV, Erose Garden, Faridabad-121009, Haryana, India |
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Date of Birth/Age : |
24.01.1975 |
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Qualification : |
B. Tech |
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Date of Appointment : |
20.06.1997 |
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Name : |
Mr. Anil Malhotra |
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Designation : |
Director |
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Address : |
House No. 7, Block IV, Erose Garden, Faridabad-121009, Haryana, India |
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Date of Birth/Age : |
03.09.1944 |
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Qualification : |
B. Tech |
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Date of Appointment : |
20.06.1997 |
KEY EXECUTIVES
|
Name : |
Mr. Hemant Shah |
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Designation : |
Accountant Manager |
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Mobile No.: |
91-9899410810 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2007
|
Names of Shareholders |
|
No. of Shares |
|
Vishal Malhotra |
|
118100 |
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Gaurav Malhotra |
|
118100 |
|
Anil Malhotra |
|
32600 |
|
Veena Malhotra |
|
100 |
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Kanika Malhotra |
|
15000 |
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Pooja Malhotra |
|
15000 |
|
Jogi Ram |
|
10000 |
|
Rawan Jain |
|
10000 |
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Total |
|
318900 |
As on 12.07.2008
|
List of Allottees |
|
No. of Shares Allotted |
|
Vishal Malhotra |
|
30000 |
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Gaurav Malhotra |
|
15000 |
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Kanika Malhotra |
|
39000 |
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Pooja Malhotra |
|
32500 |
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Anil Malhotra |
|
25000 |
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Total |
|
141500 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Quality Testing Equipments and Material Testing
Equipments |
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Products : |
·
Textile and Yarn Testing Instruments ·
Paint and plating Instruments ·
Plastic and Packaging Testing Instruments ·
Rubber Testing Instruments ·
Consumables |
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Imports : |
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Products : |
Parts of Equipments |
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Countries : |
·
America ·
England ·
Japan ·
Germany |
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Terms : |
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Selling : |
Advance |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Ajanta Timber ·
Alex Packers and Movers ·
Bhutra Hardware Store ·
Brajendra Associates ·
Capital Cine Supply ·
Chuni Lal Kewal Krishan ·
Fedral Security Services ·
First Fight Courier Services ·
Globe Enterprises ·
I.N. Seth Sons ·
Kishan Lal Yadav ·
Krish Technology Company ·
Lucky Engineering Works ·
Mansoori Weldarc India ·
Medilab Systems ·
Meenakshi Agencies ·
Miconix Insturments ·
Nosil Steels ·
Paintwell Engineers ·
Parkash Air Freight Private Limited |
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|
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Customers : |
End Users ·
Cadbury India Limited ·
Grasim Industries Limited ·
Chand Engineering ·
KYCR Coil Industries Limited ·
Sai Enterprises ·
Hindustan Coca-Cola Beverages Private Limited ·
Minda Wire Links Private Limited ·
Vinflex Products Private Limited ·
GLS Polymers Private Limited ·
Labtex ·
Sangam Suiting ·
Purolator India Limited ·
Richa Global ·
Hindustan Coca-Cola Beverages Private Limited ·
Magnolia Blossoms ·
Klassik Laxitex Private Limited ·
Consumer Testing Laboratory ·
Surya’s Oldfort Plastic ·
Bangalore Test House ·
Shashi Export House ·
Kalmkari Designs Private Limited ·
Sai Enterprises ·
Boutique International Private Limited |
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No. of Employees : |
88 (Office 5, Factory 70 and Branches 8, Corporate office 5) |
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Bankers : |
·
ICICI Bank, Faridabad Sector 16 ·
Small Industries
Development Bank of India, Videocon Tower, Ground Floor, E-1, Rani Jhansi
Road, Jahndewalan Extension, New Delhi-110055, India |
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Facilities : |
OD Rs. 4.000 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Brajendra and Associates Chartered Accountant |
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Address : |
DA-5, First Floor, Vikas Marg, Shkarpur, Delhi-110092, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
318900 |
Equity Shares |
Rs. 10/-
each |
Rs. 3.189
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
3.189 |
3.189 |
3.189 |
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2] Share Application Money |
0.815 |
1.015 |
0.040 |
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3] Reserves & Surplus |
2.850 |
1.892 |
0.853 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.854 |
6.096 |
4.082 |
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|
LOAN FUNDS |
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1] Secured Loans |
3.671 |
1.984 |
0.387 |
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2] Unsecured Loans |
4.063 |
0.000 |
0.000 |
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TOTAL BORROWING |
7.734 |
1.984 |
0.387 |
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DEFERRED TAX LIABILITIES |
0.102 |
0.046 |
0.063 |
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TOTAL |
14.690 |
8.126 |
4.532 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.299 |
6.513 |
4.631 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
5.547
|
1.514 |
0.687 |
|
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Sundry Debtors |
1.495
|
3.021 |
1.838 |
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|
Cash & Bank Balances |
0.888
|
1.127 |
0.230 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
0.929
|
1.181 |
0.419 |
|
Total
Current Assets |
8.859
|
6.843 |
3.174 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
|
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Current Liabilities |
3.888
|
4.673 |
2.901 |
|
|
Provisions |
0.582
|
0.560 |
0.376 |
|
Total
Current Liabilities |
4.470
|
5.233 |
3.277 |
|
|
Net Current Assets |
4.389
|
1.610 |
[0.103] |
|
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MISCELLANEOUS EXPENSES |
0.002 |
0.003 |
0.004 |
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|
|
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TOTAL |
14.690 |
8.126 |
4.532 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
30.926 |
27.478 |
16.301 |
|
|
Other Income |
0.227 |
0.000 |
0.000 |
|
|
Total Income |
31.153 |
27.478 |
16.301 |
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|
|
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|
|
|
Profit/(Loss) Before Tax |
1.777 |
1.708 |
0.911 |
|
|
Provision for Taxation |
0.782 |
0.673 |
0.578 |
|
|
Profit/(Loss) After Tax |
0.995 |
1.035 |
0.333 |
|
|
|
|
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Imports : |
|
|
|
|
|
|
Import Value |
1.512 |
0.990 |
NA |
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Manufacturing Expenses |
17.096 |
16.504 |
0.000 |
|
|
Administrative Expenses |
11.334 |
8.762 |
0.000 |
|
|
Preliminary Expenses Written off |
0.001 |
0.001 |
0.000 |
|
|
Depreciation & Amortization |
0.945 |
0.503 |
0.300 |
|
|
Other Expenditure |
0.000 |
0.000 |
15.090 |
|
Total Expenditure |
29.376 |
25.770 |
15.390 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
3.19
|
3.77 |
2.04 |
|
|
|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
5.75
|
6.22 |
5.59 |
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.28
|
12.78 |
11.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.28 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.78
|
1.18 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.98
|
1.31 |
0.97 |
LOCAL AGENCY
FURTHER INFORMATION
|
Additional
Requirement of Indiamart for Trust-Seal |
|
|
|
Excise Registration No.: AAACP9778KM001 |
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VAT / TIN : 06811216811 |
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IEC Code : 0502019158 |
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PAN / TAN : AACP9778K |
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Bank Name : ICICI Bank |
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Bank Address : Sector 16, Faridabad |
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Bank A/c. No.: 008305002578 |
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Account Since : 3 Years |
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In case of any affiliations / memberships / certifications : |
|
Name : 9001:2000 |
|
Type : SMR Korea 0MS 03195 |
|
Expiry Date : 2010 |
Trade References:
·
Subros Limited, Noida
·
Mother Son Sumi System Limited, Noida
Bankers Charges Report
as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified
|
10111702 |
|
Corporate
identity number of the company |
U33125DL1997PTC087892 |
|
Name of the
company |
PRESTO STANTEST PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
C-117, FF Complex, Okhla Industrial Area, Phase-III, New Delhi,
Delhi-110020, India |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Small Industries
Development Bank of India, Videocon Tower, Ground Floor, E-1, Rani Jhansi
Road, Jahndewalan Extension, New Delhi-110055, India |
|
Nature of
description of the instrument creating or modifying the charge |
|
|
Date of
instrument Creating the charge |
16.07.2008 |
|
Amount secured by
the charge |
Rs. 19.800
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The borrower
shall pay to SIDBI interest on the principal amount of the loan outstanding
at the rate specified by SIDBI form time to time. (As on date, the applicable
rate of Interest is 13% per annum) Terms of
Repayment The Loan shall be
repaid by the Borrower to SIDBI in 66 monthly installments including first 22
monthly installments of Rs. 0.250 Million net 22 installments of Rs. 0.300
Million each followed by the last 22 installments of Rs. 0.350 Million after
a moratorium of 12 months form date of first disbursement. Margin Raise the
promoter’s contribution of Rs. 10.000 Millions by way of share capital Rs.
4.500 Million internal accrual of Rs. 1.500 Million and unsecured loans of
Rs. 4.000 Million Extent and
Operation of the charge Primary- 1st
Charge by way of mortgage over immovable property situated at Plot No. I-42,
DLF Industrial Area, Phase-I, Faridabd
and hypothecation on all present and future movable assets of the company Collateral –
Extension of 1st Charge by way of mortgage over property situated
at 18A/4-5, DLF Idnustrial Area, Phase-I, Faridabad and on hypothecation of
all the current assets present and future of the company. |
|
Short particulars
of the property charged |
Primary- 1st
Charge by way of mortgage over immovable property situated at Plot No. I-42,
DLF Industrial Area, Phase-I, Faridabd
and hypothecation on all present and future movable assets of the company Collateral –
Extension of 1st Charge by way of mortgage over property situated
at 18A/4-5, DLF Idnustrial Area, Phase-I, Faridabad and on hypothecation of
all the current assets present and future of the company. |
|
Particulars of
the present modification |
16.07.2008 –
Document filed earlier have been modified. |
Fixed Assets:
·
Land
·
Building
·
Mumbai Office
·
Air Conditioner
·
Camera
·
Computer
·
Printer
·
U.P.S
·
Furniture and Fixture
·
Mobile Phone
·
Fan
·
Refrigerator
·
Water Cooler
·
Water Purifier
·
Office Equipments
·
E..P.A.B.X. System
·
Projector
·
Cassate Player
·
Plant and Machinery
·
Honda Civic
·
Maruti Van
·
Mahindra Scorpio
·
Scooter
·
Cycle
·
Tools and Equipments
·
Time Keeping Card
·
Time Keeping Machine
·
Fax Machine
·
Fire Extinguisher
·
Generator
AS PER WEBSITE
Profile:
Thriving on industry knowledge, research & development, they at
Presto have established ourselves as one of the leading manufacturers and exporters
of quality testing equipments and material testing equipment. They manufacture
equipments that meet the testing requirements of a diverse range of industries.
With constant innovation, refinement & unwavering commitment to quality,
they have gained a reputation for excellence among the customers and peers.
Efficient distribution systems and timely delivery schedules have endeared them
the customers spread around the world.
Infrastructure
Presto's production facilities are equipped with the cutting-edge technology.
Incorporating advanced production methods and backed by a team of
professionals, they have been setting benchmarks for excellence in the
industry. Technology plays a very important role in the engineering of high
precision products. They boast of efficient and dedicated engineers who produce
satisfactory results for the valued buyers. The investment in the enhancement
of facilities and streamlining of procedures provides assurance that all the
products meet customer expectations for reliable performance and quality.
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.49.46 |
|
UK Pound |
1 |
Rs.73.17 |
|
Euro |
1 |
Rs.62.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|