1. Summary Information
|
|
|
Country |
|
|
Company Name |
PRG INTERNATIONAL ELECTRICALS PRIVATE LIMITED |
Principal Name 1 |
Mr. Prem Chand Goel |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Rajeev Goyal |
|
|
|
Registration # |
55-149776 |
|
Street Address |
B-43, Jhilmil Industrial Area, Shahdara, |
||
|
Established Date |
16.06.2006 |
SIC Code |
-- |
|
Telephone# |
91-11-22117992 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-22583962 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Ceiling Fans |
|
# of employees |
Not Divulged |
Product Name 2 |
Other Electricals Goods / Appliance |
|
Paid up capital |
Rs.
54,077,200/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate – 13.00% Directors or
relatives of Directors – 86.73% Other top fifty
shareholders - 0.27% |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
5 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
--- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
133,533,000 |
Current Liabilities |
157,109,000 |
|
Inventories |
147,470,000 |
Long-term Liabilities |
177,199,000 |
|
Fixed Assets |
152,204,000 |
Other Liabilities |
14,932,000 |
|
Deferred Assets |
0 |
Total Liabilities |
349,240,000 |
|
Invest& other Assets |
37,753,000 |
Retained Earnings |
67,643,000 |
|
|
|
Net Worth |
121,720,000 |
|
Total Assets |
470,960,000 |
Total Liab. & Equity |
470,960,000 |
|
Total Assets (Previous Year) |
515,224,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
619,433,000 |
Net Profit |
10,595,000 |
|
Sales(Previous yr) |
646,858,000 |
Net Profit(Prev.yr) |
7,502,000 |
MIRA INFORM
REPORT
|
Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRG INTERNATIONAL ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-43, Jhilmil Industrial Area, Shahdara, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.06.2006 |
|
|
|
|
Com. Reg. No.: |
55-149776 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32108DL2006PTC149776 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP1336E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP9427A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ceiling Fans and Other Electricals Goods / Appliance |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 48600 |
|
|
|
|
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 commitment. The company can be considered normal for business dealings at usual
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
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 : |
B-43, Jhilmil Industrial Area, Shahdara, |
|
Tel. No.: |
91-11-22117992 / 22120183 / 22574035 |
|
Mobile No.: |
91-9810000842 (Mr. Tarun Sharma) |
|
Fax No.: |
91-11-22583962 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Prem Chand Goel |
||||||||||
|
Designation : |
Director |
||||||||||
|
Address : |
C-63, Vivek Vihar, |
||||||||||
|
Date of Birth/Age : |
14.05.1931 |
||||||||||
|
Date of Appointment : |
16.06.2006 |
||||||||||
|
DIN : |
00166623 |
||||||||||
|
Other Directorship : |
|
||||||||||
|
|
|
||||||||||
|
Name : |
Mr. Rajeev Goyal |
||||||||||
|
Designation : |
Director |
||||||||||
|
Address : |
C-63, Vivek Vihar, |
||||||||||
|
Date of Birth/Age : |
31.03.1969 |
||||||||||
|
Date of Appointment : |
06.12.2006 |
||||||||||
|
DIN : |
00166538 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Prem Chand Goel |
|
1274630 |
|
Mr. Rajeev Goyal |
|
2840190 |
|
Neena Goyal |
|
575000 |
|
Murti Devi Goyal |
|
100 |
|
Ashish Jain |
|
100 |
|
Asha Lata Jain |
|
100 |
|
Ram Kishore Jain |
|
100 |
|
Ram Kishore Jain (Karta of Ram Kishore Jain HUF) |
|
100 |
|
Sonu Lohiya |
|
100 |
|
Sulekha Rani |
|
100 |
|
Sunita Ahuja |
|
100 |
|
Prem Chand Goel (Karta of Prem Chand and Sons) |
|
100 |
|
Ginni Fincap Private Limited, |
|
717000 |
|
|
Total |
5407720 |
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
13.00 |
|
Directors or relatives of Directors |
86.73 |
|
Other top fifty shareholders |
0.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ceiling Fans and Other Electricals Goods / Appliance |
|
|
|
|
Products : |
|
PRODUCTION STATUS AS ON (31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Stamping and Lamination |
Kg. |
4191595 |
|
Ceiling Fan |
Pcs. |
244430 |
GENERAL INFORMATION
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institute : |
570, Rectifier
House, Naigaum Cross Road, Next to Royal Industrial Estate, Wadala, Mumbai –
400031, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Ravindra Jain and Associates Chartered Accountant |
|
Address : |
106, Prakash House, 437/4B, |
|
PAN No.: |
AAHFR1866J |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs.10/-each |
Rs.60.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,407,720 |
Equity Shares |
Rs.10/-each |
Rs.54.077 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
54.077 |
51.227 |
46.407 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
67.643 |
34.298 |
11.195 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
121.720 |
85.525 |
57.602 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
127.599 |
165.658 |
228.219 |
|
|
2] Unsecured Loans |
49.600 |
83.105 |
34.833 |
|
|
TOTAL BORROWING |
177.199 |
248.763 |
263.052 |
|
|
DEFERRED TAX LIABILITIES |
9.084 |
6.817 |
4.315 |
|
|
|
|
|
|
|
|
TOTAL |
308.003 |
341.105 |
324.969 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
152.204 |
140.381 |
105.225 |
|
|
Capital work-in-progress |
37.572 |
0.000 |
2.269 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
147.470
|
196.620 |
141.916 |
|
|
Sundry Debtors |
64.486
|
114.966 |
131.860 |
|
|
Cash & Bank Balances |
13.793
|
10.098 |
11.278 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
55.254
|
52.887 |
47.508 |
|
Total
Current Assets |
281.003
|
374.571 |
332.562 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
81.251
|
103.575 |
|
|
|
Other Current Liabilities |
75.858
|
67.264 |
115.449 |
|
|
Provisions |
5.848
|
3.280 |
|
|
Total
Current Liabilities |
162.957
|
174.119 |
115.449 |
|
|
Net Current Assets |
118.046
|
200.452 |
217.113 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.181 |
0.272 |
0.362 |
|
|
|
|
|
|
|
|
TOTAL |
308.003 |
341.105 |
324.969 |
|
PROFIT & LOSS
ACCOUNT
|
|
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
619.433 |
646.858 |
565.209 |
|
|
|
TOTAL (A) |
|
|
|
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
603.846 |
606.046 |
523.713 |
|
|
|
Advertising Expenses |
[Including
Financial And Depreciation Expenses] |
|
|
|
|
|
TOTAL (B) |
|
|
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
40.812 |
41.496 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
21.473 |
18.464 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
19.340 |
23.032 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
7.880 |
5.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
15.587 |
11.460 |
17.711 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
4.992 |
3.958 |
6.516 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
10.595 |
7.502 |
11.195 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
129.679 |
118.915 |
91.550 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
46.062 |
0.000 |
1.292 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.96 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.71
|
1.16 |
1.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.60
|
2.23 |
4.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.13 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.79
|
4.94 |
6.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
2.15 |
2.88 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS :
- Machinery
- Testing Equipments
- Weighting Equipments
- Electric Motor
- Crane
- Conveyor
- Air Purifier
- Dies and Tool
- Generator
- Electric installation
- Fire Extinguisher
- Fan
- Air Conditioner
- EPBAX
- Water Filter
- Fax
- Water Cooler
- Mobile Phone
- Photocopier machine
- Office Equipments
- Furniture and Fixture
- Car
- Scooter
- Computer and Peripherals
- Property at J.I.A
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U32108DL2006PTC149776 |
|
Name of the
company |
PRG International
Electricals Private Limited |
|
Address of the registered
office or of the principal place of
business in |
B-43, Jhilmil Industrial Area, Shahdara, |
|
This form is for |
Creation
of Charge |
|
Type of charge |
Immovable
Property |
|
Particular of charge
holder |
Reliance Consumer
Finance Private Limited 570, Rectifier
House, Naigaum Cross Road, Next to Royal Industrial Estate, Wadala, Mumbai –
400031, Maharashtra, India |
|
Nature of
instrument creating charge |
Loan Agreement
dated 30.09.2010 Industrial Free
hold property vide address Plot no.43, B
Block, Jhilmil Industrial Area, |
|
Date of
instrument Creating the charge |
30.09.2010 |
|
Amount secured by
the charge |
Rs.20.000 million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
– Floating 13.26% per annum reducing balance. Terms of
Repayment – 60 EMI of Rs. 0.457 million Margin – NA being
LAP on Industrial property for funding the working capital requirement of the
company. Extent and
Operation of the charge – to the extent of principal plus interest |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Industrial free
hold property vide address Plot no.43, B
Block, Jhilmil Industrial Area, |
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.45.37 |
|
|
1 |
Rs.73.54 |
|
Euro |
1 |
Rs.62.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.