MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
P N SAFETECH PRIVATE LIMITED |
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Registered Office : |
C 0 1831, HIG, Rajajipuram, Lucknow – 226017, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
26.04.1994 |
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Com. Reg. No.: |
20-16373 |
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CIN No.: [Company
Identification No.] |
U45201UP1994PTC016373 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP09113G |
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PAN No.: [Permanent
Account No.] |
AABCP4411C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, exporters,
suppliers directory of Industrial Safety 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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually 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 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 0 1831, HIG, Rajajipuram, Lucknow – 226017, Uttar Pradesh, India |
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Mobile No.: |
91-9312268396 [Sandeep Arora] |
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Website : |
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Head Office : |
1/98, 2nd Floor, Asaf Ali Road, Karam House, New Delhi –
110001, India |
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Tel. No.: |
91-11-23235364 / 23236132 |
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Fax No.: |
91-11-23233003 |
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Corporate Office : |
1102, Ashoka Estate, 24 Barakhamba Road, New
Delhi - 110001, India |
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Tel. No.: |
91-11-43538980, 43538914, 32912320 |
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Mobile No. : |
91-9312113242 |
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Fax No.: |
91-11-23766887 |
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E-Mail : |
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Factory 1 : |
C-12, AMAUSI
Industrial Area, Nadar Gunj, Lucknow - 226008, India |
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Tel. No.: |
91-522-2434801, 3955871 |
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Fax No.: |
91-522-2434896 |
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E-Mail : |
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Factory 2 : |
161/B, Bindukhera Turning, Village Danpur,
Kashipur Road, RUDRAPUR - 263153 (Uttranchal) |
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Tel. No.: |
91-5944-239363 / 239364 |
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Fax No.: |
91-5944-244149 |
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E-Mail : |
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Branches : |
Located at
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DIRECTORS
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Name : |
Mr. Rajesh Nigam |
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Designation : |
Managing Director |
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Address : |
C – 1331 HIG, Rajajipuram, Lucknow – 226017, Utttar Pradesh,
India |
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Date of Birth/Age : |
25.08.1968 |
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Date of Appointment : |
26.04.1994 |
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Name : |
Mr. Hemant Sapra |
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Designation : |
Director |
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Address : |
A – 363, 1st Floor, Defence Colony, New Delhi – 110024,
India |
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Date of Birth/Age : |
23.12.1963 |
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Date of Appointment : |
26.04.1994 |
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Name : |
Mr. Rajan Nigam |
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Designation : |
Director |
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Address : |
C – 1331 HIG, Rajajipuram, Lucknow, Utttar Pradesh, India |
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Date of Appointment : |
26.04.1994 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2007
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Names of Shareholders |
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No. of Shares |
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Rajesh Nigam |
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258895 |
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Hemant Sapra |
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80125 |
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Total |
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339020 |
AS ON 29.09.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers,
exporters, suppliers directory of Industrial Safety Equipments |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Satish Arora and Company Chartered Accountants |
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Address : |
Aakriti Towers, First Floor, 19 Vidhan Sabha Marg, Lucknow – 226001,
Uttar Pradesh, India |
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Tel. No.: |
91-522-2237431 / 223751 |
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Fax No.: |
CAPITAL STRUCTURE
AS ON 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs. 10/- Each |
Rs. 7.500
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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339020 |
Equity Shares |
Rs. 10/- Each |
Rs. 3.390 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
3.390 |
3.390 |
3.390 |
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2] Share Application Money |
0.600 |
0.600 |
0.600 |
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3] Reserves & Surplus |
40.359 |
1.224 |
3.133 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
44.349 |
5.214 |
7.123 |
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LOAN FUNDS |
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1] Secured Loans |
8.335 |
5.959 |
9.379 |
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2] Unsecured Loans |
7.149 |
7.149 |
3.318 |
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TOTAL BORROWING |
15.484 |
13.108 |
12.697 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
59.833 |
18.322 |
19.820 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
13.346 |
8.021 |
11.563 |
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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 |
20.784
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3.339 |
0.000 |
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Sundry Debtors |
38.040
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22.468 |
0.000 |
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Cash & Bank Balances |
5.320
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4.224 |
0.000 |
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Other Current Assets |
0.598
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0.000 |
32.309 |
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Loans & Advances |
4.499
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2.495 |
0.000 |
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Total
Current Assets |
69.241
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32.526 |
32.309 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
22.763
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22.235 |
24.056 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
22.763
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22.235 |
24.056 |
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Net Current Assets |
46.478
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10.291 |
8.253 |
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MISCELLANEOUS EXPENSES |
0.009 |
0.010 |
0.004 |
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TOTAL |
59.833 |
18.322 |
19.820 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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139.290 |
17.826 |
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Total Income |
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139.290 |
17.826 |
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Profit/(Loss) Before Tax |
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55.980 |
[1.909] |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
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[17.445] |
2.780 |
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Other Expenditure |
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100.755 |
16.955 |
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Total Expenditure |
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83.310 |
19.735 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Net Profit Margin (PBT/Sales) |
(%) |
40.19
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[10.71] |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
67.78
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[4.71] |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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1.26
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[0.37] |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.86
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6.78 |
5.16 |
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Current Ratio (Current Asset/Current Liability) |
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3.04
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1.46 |
1.34 |
LOCAL AGENCY
FURTHER INFORMATION
Registered office of the company has been shifted from E-4, Government
Industrial Estate, Talkatora, Lucknow – 226017, Uttar Pradesh, India to the
present address w.e.f. 01.08.2007
Bankers Charges
Report as per Registry
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Name of the company |
P N SAFETECH
PRIVATE LIMITED |
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Presented By |
-- |
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1) Date and description of instrument creating the change |
The borrower has
be declaration created the Mortgage on the immovable property in favor of the
Standard Chartered Bank on 18.04.2004. the certified copy of the Memorandum
of Entry for mortgage by way of deposit of title deeds in this regard is
enclosed. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.618 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 |
Mortgage of 201,
Town Centre, Opp Wounge, Chakala, Andheri [East] |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Security for Term
Loan facility granted to charch operate as first and paramount charge in
favor of the Bank as security for all dues under the Term Loan facility. |
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5) Name and Address and description of the person entitled to the charge. |
Standard
Chartered Bank 23-25 MG Road,
Mumbai – 400001 |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
Manufacturing Set-Up at KARAM
PN INTERNATIONAL
Located in the outskirts of the city of Lucknow, about 500kms to the
South-East of New Delhi, the Factory is spread over a span of around 87,000
square feet, with the constructed area being just about the same.
A Unit where all the products are manufactured completely in-house, is
entirely backward-integrated, and hence is unique in its own kind. All the
components of the Fall Protection range of KARAM products are produced within
one large campus, and yarn and steel are credited as being the only main raw
materials for the same. The idea is to have a complete control over the finest
details of manufacturing in order to reach the highest levels of quality
standards.
Strict quality parameters are laid out for Manufacturing and Systems
operations, and followed to the core. The Company has achieved the systems
certification of ISO 9001-2000 from UKAS (UK), and regular and stringent audits
keep the pace at KARAM ahead at all times.
PN SAFETECH PRIVATE LIMITED
This Manufacturing set-up is located in the foot-hills of the Himalayan
range, in the small township of Rudrapur, Uttarakhand, India
Spanning an area of more than 22,000 square feet, this Factory works in
an extremely organized manner to fulfill the demands of the market. Also
accredited with the ISO 9001:2000 Certification, the unit is committed to
provide the finest quality products to the valued customers of KARAM.
Company History
From the year 1994, and going stronger by the day…..
The beginnings are humble and modest …
Then- a team of two like-minded individuals, backed by only five other helping
hands, besides their own self-determination, and die-hard spirit.
Now- a consolidated team of more than 700 people, each marching towards a
common goal, and each backing one-another.
Then- Safety Nets being the mainstay product.
Now- An exhaustive range of Personal Protection Equipment, covering
Head-to-Toe.
Then- a company, only dreaming to reach out to the world.
Now- a company that has lived up to its dreams.
Then- A vision to acquire excellence in the field of Quality- in both Product
and Service.
Now- A stronger vision and a greater commitment towards achieving the same.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.89 |
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UK Pound |
1 |
Rs.78.86 |
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Euro |
1 |
Rs.63.33 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
YES |
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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 |
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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 |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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. |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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