MIRA
INFORM REPORT
|
Report Date : |
13.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
PARAM TEX FAB PRIVATE LIMITED |
|
|
|
|
Registered Office : |
100 Jawahar Nagar, R No. 1, 2nd Floor, Above Post Office, 10th
Road, Goregaon (West), Mumbai – 400703, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
28.01.2005 |
|
|
|
|
Com. Reg. No.: |
11-150877 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U17120MH2005PTC150877 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
NSKP02640B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCP4916C |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer of Wider Width Cotton Fabrics and Cotton Twisted Yarn. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 160000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
100 Jawahar Nagar, R No. 1, 2nd Floor, Above Post Office, 10th
Road, Goregaon (West), Mumbai – 400703, Maharashtra, India |
|
Tel No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
4-A, Vikas Centre, 104, S V road, Santacruz (West), Mumbai – 400054, |
|
Tel. No.: |
91-22-66965949 |
|
Fax No.: |
91-22-26614196 |
|
E-Mail : |
|
|
|
|
|
Factory : |
C/o Group Workshed, G. No.202/1, At Post, Tande Tal. Shirpur District.
Dhule – 425405, |
|
Tel No.: |
91-2563-272101 to 272104 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Omprakash Laxminarayan Bhandari |
|
Designation : |
Director |
|
Address : |
Marawari Gali Shirpur District Dhule – 425405, |
|
Date of Appointment : |
05.08.2005 |
|
DIN No.: |
01767749 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U17120MH2005PTC150927 |
Sanskriti
Tex Fab Private Limited |
Director |
01-02-05 |
01-02-05 |
- |
Active |
NO |
|
2 |
U17120MH2005PTC150877 |
Param
Tex Fab Private Limited |
Director |
25-07-05 |
25-07-05 |
- |
Active |
NO |
|
Name : |
Mr. Sunil Motilal Mandora |
|
Designation : |
Director |
|
Address : |
13/68 Girish Bhavan JB Nagar Andheri (East), Mumbai -400059, |
|
Date of Appointment : |
10.04.2005 |
|
DIN No.: |
01847632 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U17120MH2004PTC145067 |
Shirpur
Synthetics Private Limited |
Director |
15-03-04 |
15-03-04 |
- |
Active |
NO |
|
2 |
U17120MH2005PTC150877 |
Param
Tex Fab Private Limited |
Director |
10-04-05 |
10-04-05 |
- |
Active |
NO |
|
3 |
U17120MH2008PTC184401 |
Akanksha
Cotex Private Limited |
Director |
08-07-08 |
08-07-08 |
- |
Active |
NO |
|
4 |
U17291MH2011PTC214564 |
Tanmay
Cotex Private Limited |
Director |
10-03-11 |
10-03-11 |
- |
Active |
NO |
|
5 |
U17291MH2011PTC216612 |
Hari
Cotspin Private Limited |
Director |
25-04-11 |
25-04-11 |
- |
Active |
NO |
|
6 |
U17200MH2011PTC219002 |
Yamnotri
Textiles Private Limited |
Director |
23-06-11 |
23-06-11 |
- |
Active |
NO |
|
Name : |
Mr. Babanlal Hiralal Agrawal |
|
Designation : |
Director |
|
Address : |
20, Subhash Colony, Shirpur, District Dhule – 425405, |
|
Date of Appointment : |
25.07.2005 |
|
DIN No.: |
01879838 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U17120MH2005PTC150854 |
Urja
Textiles Private Limited |
Director |
28-01-05 |
28-01-05 |
- |
Active |
NO |
|
2 |
U17120MH2005PTC150877 |
Param
Tex Fab Private Limited |
Director |
25-07-05 |
25-07-05 |
- |
Active |
NO |
|
Name : |
Mrs. Meenakshi Rajvardhan Kadambande |
|
Designation : |
Director |
|
Address : |
1, Green Park, Near Railway Station, Dhule – 424001, Maharashtra,
India |
|
Date of Appointment : |
25.07.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Amrishbhai Patel |
|
14200 |
|
Bhupesh Patel |
|
14200 |
|
Chintan Patel |
|
14200 |
|
Disha Patel |
|
14200 |
|
Hira Patel |
|
14200 |
|
Jayshree patel |
|
14200 |
|
Ketaki Patel |
|
14200 |
|
Kruti Patel |
|
14200 |
|
Meha Patel |
|
14200 |
|
Sneha Patel |
|
14200 |
|
Tapan Patel |
|
14200 |
|
Ajay Agrawal |
|
20000 |
|
Nitu Agrawal |
|
10000 |
|
Pallavi Agrawal |
|
12550 |
|
Vijay Agrawal |
|
20000 |
|
Balmukund Pasari |
|
31250 |
|
Komal Agrawal |
|
15625 |
|
Siddhant Pasari |
|
15625 |
|
Dwarkadas Agrawal |
|
62500 |
|
Omprakash Bhandari |
|
62500 |
|
Rajvardhan Kadambande |
|
62500 |
|
Sunil Motilal Mandora |
|
31250 |
|
|
|
|
|
Total |
|
500000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Wider Width Cotton Fabrics and Cotton Twisted Yarn. |
|
|
|
|
Products : |
·
Wider Width Cotton Fabrics ·
Cotton Twisted Yarn ·
Technical Textiles |
GENERAL INFORMATION
|
Bankers : |
·
State Bank of India, MIDC Branch, Dhule – 424006,
Maharashtra, India ·
Bank of Rajasthan ·
Federal Bank ·
HDFC Bank ·
ICICI Bank Limited |
||||||||||||||||||||||||||||||||||||||||||
|
|
(Rs.
In Millions) |
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vijay M. Rathi Chartered Accountant |
|
Address : |
Kishor Kunj, Marwadi Gali, Shirpur, District Dhule – 425405, |
|
Tel No.: |
91-2563-255005 / 255141 |
|
PAN : |
AAKPR7620M |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
Share Application Money |
|
Rs.3.750 Millions |
|
|
Total |
|
Rs.8.750 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
3.750 |
10.000 |
16.050 |
|
|
3] Reserves & Surplus |
30.122 |
18.908 |
12.389 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
38.872 |
33.908 |
33.439 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
41.581 |
24.531 |
51.926 |
|
|
2] Unsecured Loans |
22.405 |
0.000 |
0.025 |
|
|
TOTAL BORROWING |
63.986 |
24.531 |
51.951 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
OTHER FUND |
7.000 |
5.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
109.858 |
63.439 |
85.390 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
54.890 |
53.986 |
52.669 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.125 |
1.125 |
8.158 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.503 |
28.586
|
14.777
|
|
|
Sundry Debtors |
54.262 |
13.140
|
27.510
|
|
|
Cash & Bank Balances |
16.176 |
2.824
|
2.770
|
|
|
Other Current Assets |
0.000 |
0.000
|
0.000
|
|
|
Loans & Advances |
10.893 |
15.256
|
18.441
|
|
Total
Current Assets |
92.834 |
59.806 |
63.498
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
37.646 |
50.474
|
38.356
|
|
|
Other Current Liabilities |
1.345 |
0.855
|
0.622
|
|
|
Provisions |
0.000 |
0.170
|
0.000
|
|
Total
Current Liabilities |
38.991 |
51.499 |
38.978
|
|
|
Net Current Assets |
53.843 |
8.307 |
24.520
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.021 |
0.043 |
|
|
|
|
|
|
|
|
TOTAL |
109.858 |
63.439 |
85.390 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and other Income |
|
|
|
|
|
|
TOTAL |
296.118 |
388.170 |
238.372 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
279.949 |
379.604 |
236.869 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
16.169 |
8.566 |
1.502 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.707 |
1.799 |
0.043 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
11.462 |
6.767 |
1.459 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.92 |
13.53 |
2.92 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.87
|
1.74
|
0.61
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.95
|
7.53
|
1.29
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.25
|
0.04
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.65
|
2.24
|
2.72
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.38
|
1.16
|
1.63
|
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate identity
number of the company |
U17120MH2005PTC150877 |
|
Name of the
company |
PARAM TEX FAB
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
100 Jawahar Nagar, R No. 1, 2nd Floor, Above Post Office, 10th
Road, Goregaon (West), Mumbai – 400703, Maharashtra |
|
This form is for
|
Creation of charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of India, MIDC Branch, Dhule – 424006, Maharashtra, India E-mail : pmehta@paramtex.com |
|
Nature of
instrument creating charge |
Agreementof Loan
Cum Hypothecation |
|
Date of
instrument Creating the charge |
29.03.2007 |
|
Amount secured
by the charge |
Rs.60.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Working capital:
13.25% per annum on daily product with monthly rest. Term loan:
13.75% per annum on daily product with monthly rest. Terms of
repayment Working capital:
repayable on demand. Available for 12 months w.e.f. 08/03/2007 subject to
review every 12 months. Term loan: To be repaid in 25 months/ quarterly
installment of Rs.0.800 Millions each commencing of June 2007. Margin Working Capital 1. Raw Material: Indigenous 25% 2. Semi Finished Goods 30% 3. Finished Goods 25% 4. Domestic Receivables 35% Term Loan
25% Extent and
operation of the charge The primary
security shall be hypothecation of stock, stock in process finished goods,
book debts and hypothecation of building, plant and machinery purchased out of the open term
loan and the collateral security shall of charges on company land and
building Gat No.202/1 Post Tande
Taluka Shirpur District Dhule, Maharashtra, India 1) Personal
guarantee of all director Corporate guarantee of A Fame Textiles Private Limited B Samadhan Textiles Private Limited Post
Tande Shirpur, Maharashtra, India |
|
Short
particulars of the property or asset(s) charged (including complete address
and location of the property) |
Hypothecation of
stock, stock in process finished goods Hypothecation of
building and plant and machinery located at Gat No 202/1 Post Tande Taluka
Shirpur District Dhule, Maharashtra, India |
FIXED ASSETS:
·
Land
·
·
Plant and Machinery
·
Electrical Installation
·
Other Machinery
·
Computer
·
Furniture and Fixture
·
Motar Vehicles
·
Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.52.42 |
|
|
1 |
Rs.81.92 |
|
Euro |
1 |
Rs.69.94 |
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 |
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 |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.