MIRA
INFORM REPORT
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Report Date : |
07.01.2011 |
Note: Given address could not be confirmed.
IDENTIFICATION DETAILS
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Name : |
POONAWALLA INVESTMENTS AND INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
S. No. 268, Off Soli, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.03.1974 |
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Com. Reg. No.: |
11-17311 |
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CIN No.: [Company Identification No.] |
U65993MH1974PTC017311 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Investment Company. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 10000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular 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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
Management Non-Cooperative
LOCATIONS
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Registered Office : |
S. No. 268, Off Soli, |
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E-Mail : |
DIRECTORS
(AS ON 27.09.2010)
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Name : |
Mr. Adar Cyrus Poonawalla |
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Designation : |
Director |
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Address : |
11, |
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Date of Birth/Age : |
14.01.1981 |
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Date of Appointment : |
24.09.1999 |
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Name : |
Mr. Cyrus Soli Poonawalla |
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Designation : |
Director |
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Address : |
11, |
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Date of Birth/Age : |
11.05.1941 |
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Date of Appointment : |
23.03.1974 |
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Name : |
Mr. Villoo Cyrus Poonawalla |
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Designation : |
Whole-Time Director |
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Address : |
11, |
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Date of Birth/Age : |
30.09.1943 |
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Date of Appointment : |
01.02.2010 |
KEY EXECUTIVES
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Name : |
Mr. Vinit Vinayak Joshi |
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Designation : |
Company Secretary |
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Address : |
Rajmayur Co-operative Housing Society – 2, A/3, Flat No.22, Erandwana,
Off |
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Date of Birth/Age : |
19.11.1980 |
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Date of Appointment : |
11.02.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2010)
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Names of Shareholders |
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No. of Shares |
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Cyrus Soli Poonawalla |
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2645 |
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Cyza Chem Private Limited, |
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600 |
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Corpint Investments Private Limited, |
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2215 |
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Fortune Intercontinental Private Limited, |
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2225 |
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Adurjee and Bros Private Limited, |
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2175 |
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Total |
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9860 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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Bodies corporate |
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73.17 |
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Directors or relatives of directors |
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26.83 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Investment Company. |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the Management. |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Patki and Soman Chartered Accountant |
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Address : |
639, Sadashiv Peth, |
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Subsidiaries Companies : |
· Serum Institute of India Limited U80903PN1984PLC032945 · Naukhal Investment Private Limited U67120PN1991PTC059737 · Poonawalla Aviation Private Limited U35301PN2005PTC020721 · Sez Biotech Services Private Limited U74999PN2006PTC021820 · Fortune Intercontinental Private Limited U31900PN1990PTC058951 · Chakan Investment Private Limited U65993PN1990PTC054851 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.1000/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9860 |
Equity Share |
Rs.1000/- each |
Rs.9.860
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.860 |
9.860 |
9.860 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2551.392 |
2273.862 |
2127.199 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2561.252 |
2283.722 |
2137.059 |
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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 |
0.000 |
91.900 |
114.400 |
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TOTAL BORROWING |
0.000 |
91.900 |
114.400 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2561.252 |
2375.622 |
2251.459 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
253.142 |
158.412 |
125.695 |
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Capital work-in-progress |
0.000 |
26.671 |
0.000 |
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INVESTMENT |
1783.823 |
1769.599 |
1603.063 |
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DEFERREX TAX ASSETS |
32.183 |
25.636 |
1.883 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
265.408
|
265.817 |
288.771 |
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Sundry Debtors |
0.000
|
0.000 |
0.000 |
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Cash & Bank Balances |
56.842
|
10.197 |
7.139 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
263.949
|
181.198 |
285.541 |
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Total
Current Assets |
586.199
|
457.212 |
581.451 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
1.257
|
1.316 |
0.479 |
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Other Current Liabilities |
4.458
|
5.190 |
5.852 |
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Provisions |
88.380
|
55.402 |
54.302 |
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Total
Current Liabilities |
94.095
|
61.908 |
60.633 |
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Net Current Assets |
492.104
|
395.304 |
520.818 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2561.252 |
2375.622 |
2251.459 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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TOTAL INCOME |
730.971 |
287.059 |
1145.202 |
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Less |
EXPENSES |
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TOTAL EXPENSES |
425.247 |
163.080 |
874.927 |
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PROFIT BEFORE
TAX |
305.724 |
123.979 |
270.275 |
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Less |
TAX |
(2.547) |
(22.653) |
1.535 |
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PROFIT AFTER TAX |
308.271 |
146.632 |
268.740 |
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Earnings Per
Share (Rs.) |
31265 |
-- |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
42.17
|
6.42 |
23.47 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
36.42
|
20.14 |
38.22 |
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Return on Investment (ROI) (PBT/Networth) |
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0.12
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0.05 |
0.13 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.04
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0.07 |
0.08 |
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Current Ratio (Current Asset/Current Liability) |
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6.23
|
7.39 |
9.59 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS: (RS. IN MILLIONS)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Sundry Creditors |
1.257
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1.316 |
0.479 |
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NOTE:
The Registered office of the company has been shifted from Pune –
411037,
HIGHLIGHTS OF THE
YEAR
The company has posted a profit after tax of Rs.308.271 Millions. The
directors have decided to plough back the profit into the company and hence no
dividend is recommended.
COMPANY OVERVIEW
Subject through its subsidiaries, provides horse racing and
breeding, biotechnology, engineering, hospitality, and apparel manufacturing
and distribution services. The company’s subsidiaries include Poonawalla Stud
Farms, Serum Institute of
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Vehicles
· Furniture and Fixture
· Office Equipment
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.45.20 |
|
|
1 |
Rs.70.27 |
|
Euro |
1 |
Rs.59.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
NO |
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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 |
YES |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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.