MIRA
INFORM REPORT
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Report Date : |
20.10.2008 |
IDENTIFICATION DETAILS
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Name : |
PROMPT DATA PRODUCTS PRIVATE LIMITED |
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Registered Office : |
C-6, Nand Jyoti Industrial Estate, Saeed Pool, |
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Country : |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
27.07.1987 |
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Com. Reg. No.: |
11-44192 |
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CIN No.: [Company
Identification No.] |
U72900MH1987PTC044192 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP19686C |
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PAN No.: [Permanent
Account No.] |
AAACP3081H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesalers and Suppliers of Electrical Machinery. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
USD 2500 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track.
Company’s profitability is under severe pressure. It has some accumulated losses.
Payments are reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions, with slight caution initially. The company has not filed any financials after 2004 with the
Government department. Mr. Rajendra (Manager – Accounts) parted general details but declined
to part with financials. |
INFORMATION PARTED BY (General Details)
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Name : |
Mr. Rajendra |
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Designation : |
Manager – Accounts |
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Contact No.: |
Mobile no.91-9821944730 |
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Date : |
17.10.2008 |
LOCATIONS
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Registered Office : |
C-6, Nand Jyoti Industrial Estate, Saeed Pool, Andheri Kurla Road,
Mumbai-400072, Maharashtra, India |
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Tel. No.: |
91-22-66964152 |
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Mobile No. : |
91-9821944730 (Mr. Rajendra – Accountant) |
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E-Mail : |
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Corporate Office : |
216, East West Industrial Centre, Near Safeed Pool, Andhrei Kurla
Road, Andheri (East), Mumbai-400072, Maharashtra, India |
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Tel. No.: |
91-22-66964152/ 66760283 |
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Fax No.: |
91-22-28561059 |
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Area : |
1000 sq ft |
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Location : |
Rented |
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Branch Office : |
Located at |
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Factory : |
Unit No.111, East West Industrial Centre, |
DIRECTORS
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Name : |
Mr. Vishwanathan GH Krishna G Iyer |
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Designation : |
Managing Director |
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Address : |
3-Manubela Co-operative Society Limited, Chenna Nagar, Chembur,
Mumbai-400089, |
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Date of Birth/Age : |
15.07.1937 |
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Date of Appointment : |
27.07.1987 |
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Name : |
Mr. Premanand G V |
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Designation : |
Director |
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Address : |
3-Manubela Co-operative Society Limited, Chenna Nagar, Chembur,
Mumbai-400089, |
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Date of Birth/Age : |
21.12.1969 |
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Qualification : |
M.SC |
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Date of Appointment : |
10.02.2003 |
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Name : |
Mr. Balasubramanian Sadasiva Iyer |
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Designation : |
Director |
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Address : |
3-Manubela Co-operative Society Limited, Chenna Nagar, Chembur,
Mumbai-400089, |
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Date of Appointment : |
27.07.1987 |
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Name : |
Mr. K S Balasubramanian |
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Designation : |
Director |
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Name : |
Mr. Surinder Mohan Arora |
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Designation : |
Director |
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Name : |
Mr. Harish N Ahuja |
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Designation : |
Director |
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Name : |
Mr. G K Vishwanathan |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
No. of Shares |
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Ms. Vishewanathan Meenakshi |
148 |
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Mr. G K Vishwanathan and Ms. Meenakshi Vishwanathan |
2372 |
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2520 |
As on 30.09.2005
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Wholesalers and Suppliers of Electrical Machinery. |
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Products : |
v Computer Systems v Computer Peripherals |
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Terms : |
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Selling : |
Credit 21 days |
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Purchasing : |
Credit 30 days |
GENERAL INFORMATION
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Customers : |
End Users and Dealers |
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No. of Employees : |
About 30 |
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Bankers : |
Indian Overseas Bank, 1 A, Nand Jyot Industrial Estate Branch, Andheri
Kurla Road, Saki Naka, Mumbai-400072, Maharashtra, India |
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Facilities : |
OD – Rs.6.000 Millions |
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Auditors : |
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Name : |
S N Mukherji and Company Chartered Accountants |
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Address : |
Malva- Rasa, Ground Floor, |
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Tel. No.: |
91-22-26684131 |
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Fax No.: |
91-22-26684737 |
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E-Mail : |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5040 |
Equity Shares |
Rs.100/-
each |
Rs.0.504
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover (Estimated) |
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190.000 |
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Expected Sales (2008-09) : Rs.250.000 Millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.504 |
0.504 |
0.504 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(3.718) |
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NETWORTH |
0.504 |
0.504 |
(3.214) |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
1.427 |
1.027 |
0.427 |
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TOTAL BORROWING |
1.427 |
1.027 |
0.427 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.931 |
1.531 |
(2.787) |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.073 |
1.224 |
0.158 |
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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 |
0.183 |
0.181 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.085
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0.084 |
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Sundry Debtors |
0.000
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0.000 |
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Cash & Bank Balances |
0.177
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0.230 |
0.648 |
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Other Current Assets |
0.000
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0.000 |
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Loans & Advances |
0.000
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0.000 |
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Total
Current Assets |
0.262
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0.314 |
0.648 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.711
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3.593 |
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Provisions |
0.000
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0.000 |
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Total
Current Liabilities |
3.711
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3.713 |
3.593 |
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Net Current Assets |
(3.449)
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(3.399) |
(2.945) |
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MISCELLANEOUS EXPENSES |
4.124 |
3.525 |
0.000 |
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TOTAL |
1.931 |
1.531 |
(2.787) |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2004 |
31.03.2003 |
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Sales Turnover |
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0.538 |
0.022 |
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Other Income |
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0.121 |
0.180 |
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Total Income |
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0.660 |
0.202 |
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Profit/(Loss) Before Tax |
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(0.600) |
0.011 |
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Provision for Taxation |
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0.002 |
0.014 |
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Profit/(Loss) After Tax |
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(0.598) |
(0.003) |
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Expenditures : |
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Cost of Goods Sold |
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0.433 |
0.019 |
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Administrative Expenses |
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0.417 |
0.085 |
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Salaries, Wages, Bonus, etc. |
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0.282 |
0.018 |
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Depreciation & Amortization |
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0.077 |
0.049 |
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Other Expenditure |
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0.051 |
0.019 |
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Total Expenditure |
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1.260 |
0.190 |
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KEY RATIOS
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PARTICULARS |
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31.03.2004 |
31.03.2003 |
31.03.2002 |
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PAT / Total Income |
(%) |
(90.61) |
(1.48) |
NA
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Net Profit Margin (PBT/Sales) |
(%) |
(111.52) |
50.00 |
NA
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Return on Total Assets (PBT/Total Assets} |
(%) |
(44.94) |
0.72 |
NA
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Return on Investment (ROI) (PBT/Networth) |
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(1.19) |
0.02 |
NA
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Debt Equity Ratio (Total Liability/Networth) |
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9.40 |
(1.25) |
10.19
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Current Ratio (Current Asset/Current Liability) |
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0.07 |
0.08 |
(0.18)
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LOCAL AGENCY FURTHER INFORMATION
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U72900MH1987PTC044192 |
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Name of the
company |
PROMPT DATA PRODUCTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
C-6, Nand Jyoti Industrial Estate, Saeed Pool, Andheri Kurla Road,
Mumbai-400072, Maharashtra, India. |
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Type of charge |
Immovable
Property Movable Property |
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Particular of
charge holder |
Indian Overseas Bank, 1 A, Nand Jyot Industrial Estate Branch, Andheri
Kurla Road, Saki Naka, Mumbai-400072, Maharashtra, India E-Mail: nandjbr@mummsco.iobnet.co.in |
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Nature of description
of the instrument creating or modifying the charge |
a) Letter of Hypothecation in Form 110E. b) Memorandum of deposit of Title Deeds. |
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Date of
instrument Creating the charge |
13.02.2008 |
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Amount secured by
the charge |
Rs.4.000 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
BPLR – 2.25% p.a. or at such other rates as may be revised by the Bank from
time to time. Terms of
Repayment: Repayable on demand. Margin: 30% Extent and
Operation of the charge: The charge is to operate as security, by way of
first charge, for the due repayment of the Cash Credit limit of Rs.4.000
Millions together with interests, additional interests, costs, charges,
expenses and all other payable by the Company to the Bank in terms of
sanction. Others: Facility: Cash Credit –
Rs.4.000 Millions (under Easy trade
finance Scheme) |
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Short particulars
of the property charged |
a)
Hypothecation by way of first charge, of all the
Computers and Accessories stored at the Company’s premises at 216, East West
Industrial Centre, Near Safeed Pool, Andhrei Kurla Road, Andheri (East),
Mumbai-400072 or elsewhere. b)
Equitable mortgage of the company’s immovable
properties viz. Industrial Gala No. C/ 6, admeasuring 76.96 sq mtrs. Built up
area, on the Ground Floor in the Building known as “Nandjoyt Industrial
Premises Co-operative Society Limited” situate at Village Kurla, within
Geater Mumbai. |
TRADE REFERNCES:
- Jet Airways
- All Cargo
FIXED ASSETS:
- Furniture and
Fixtures
- Office
Premises
- Air
Conditioner
- Motor Car
- Office
Equipment
- Computer
System
Contingent
Liability :
No provision has been made for the liability under the payment of Gratuity
Act, 1972. gratuity will be charged to account as and when paid.
Business
To design, develop, alter, manufacture,
import, export, produce, process, assemble, prepare for market, contract for.
Buy, sell, resell, make export, exchange, trade or otherwise deal in
electronic, test and measuring system, computer based equipment and systems and
related software like computer and its programmes and accessories and spare
parts, date processing machines, micro computers, auto printers, disc drives, plotters,
memory chips, printed circuit boards and stabilizing equipment.
To carry on the business of manufacturing,
designing, buying, selling, importing, exporting, exchanging, altering,
remodeling, up dating, improving, industrial business machines, peripherals and
media products, communication equipment and automotive measuring, surveying,
scientific, calculating instruments and allied machines electronic controls,
computers, apparatus and components, accessories and installments and also to
establish, install, undertake contracts for supervision, turnkey projects in
electronic, electrical, mechanical and optical complexes.
Company’s fixed assets include Furniture and
Fixtures, Office Premises, Air Conditioner, Motor Car, Office Equipments and
Computer System.
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.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
|
28 |
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 |
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