MIRA
INFORM REPORT
|
Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
PANCHSHIL EXIM PRIVATE LIMITED |
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Registered
Office : |
1, Plot No.442, Sector 1A, 1st Floor, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
24.03.2003 |
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Com. Reg. No.: |
04-042157 |
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Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
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CIN No.: [Company Identification
No.] |
U51909GJ2003PTC042157 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Scrap |
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No. of Employees
: |
10 [in office + warehouse] Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
B [30] |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 64000 |
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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 established company having moderate trade. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Director of Sister Concern |
|
Contact No.: |
91-9825228714 |
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Date : |
27.06.2011 |
LOCATIONS
|
Registered Office : |
1, Plot No.442, Sector 1A, 1st Floor, |
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Tel. No.: |
91-2836-232325 |
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Mobile No.: |
91-9825228714 [Mr. Sanjay Jain] |
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Fax No.: |
91-2836-221151 |
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E-Mail : |
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Area : |
1500 Sq.ft. |
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Location : |
Rented |
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Warehouse : |
Village Padana |
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Area : |
7 Acre |
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Location : |
Owned |
DIRECTORS
As on 15.07.2010
|
Name : |
Mr. Sanjay Podar |
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Designation : |
Director |
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Address : |
Plot No.62, Sector 1, Gandhidham, Kutch – 370201, |
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Qualification : |
B. Com. |
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Date of Appointment : |
24.03.2003 |
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DIN : |
00685645 |
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Name : |
Mr. Hasmukh A. Dabhi |
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Designation : |
Director |
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Address : |
TRH – 26, 4 – B, Sadhu Vaswani, Ta. Anjar, Kutch, Adipur – 370205, |
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Qualification : |
B. Com. |
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Date of Appointment : |
16.11.2004 |
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DIN : |
00937414 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay Podar |
|
50000 |
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Hasmukh Dabhi |
|
10010 |
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Anuradha S. Podar |
|
869950 |
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Shyamsundar Poddar |
|
70000 |
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Nandkishore Poddar |
|
10 |
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Vimal S. Podar |
|
10 |
|
Girirajsinh Jadeja |
|
10 |
|
Rajendra Tarachand Jain and Sunil T Jain |
|
10 |
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Total |
|
1,000,000 |
As on 15.07.2010
|
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 : |
Trader and Importer of Scrap |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Credit [90 Days] |
GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
10 [in office + warehouse] Approximately |
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Bankers : |
Indian Overseas Bank, Gandhidham - 370201, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D. G. Patel and Company Chartered Accountant |
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Address : |
5/A, Dinesh Nagar Society, Naranpura Railway Crossing, Ahemedabad –
380013, |
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Associates/Subsidiaries : |
Space Exim Private Limited Address : 1, Plot No.442,
Sector 1A, 1st Floor, Activity : Trader and
Importer of Scrap |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1,000,000 |
Equity Shares |
Rs.10/-each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1,000,000 |
Equity Shares |
Rs.10/-each |
Rs.10.000 millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
10.000 |
7.741 |
7.741 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.110 |
5.447 |
4.875 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.110 |
13.188 |
12.616 |
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LOAN FUNDS |
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1] Secured Loans |
17.609 |
5.699 |
11.993 |
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2] Unsecured Loans |
0.000 |
0.000 |
30.498 |
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TOTAL BORROWING |
17.609 |
5.699 |
42.491 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
33.719 |
18.887 |
55.107 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.898 |
1.173 |
1.460 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
5.739 |
0.343 |
1.250 |
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DEFERREX TAX ASSETS |
0.077 |
0.061 |
0.045 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
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Inventories |
39.144
|
44.862 |
17.958 |
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Sundry Debtors |
12.664
|
30.127 |
30.622 |
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Cash & Bank Balances |
0.048
|
0.328 |
0.618 |
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Other Current Assets |
0.008
|
0.008 |
0.008 |
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Loans & Advances |
5.219
|
24.143 |
22.226 |
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Total
Current Assets |
57.083
|
99.468 |
71.432 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
29.066 |
81.392 |
10.604 |
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Other Current Liabilities |
0.641
|
0.400 |
7.312 |
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Provisions |
0.371
|
0.366 |
1.164 |
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Total
Current Liabilities |
30.078
|
82.158 |
19.080 |
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Net Current Assets |
27.005
|
17.310 |
52.352 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
33.719 |
18.887 |
55.107 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
|
|
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|
24.143 |
22.226 |
||||
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Total
Current Assets |
57.083
|
99.468 |
71.432 |
||
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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||
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|
Sundry Creditors |
29.066 |
81.392 |
10.604 |
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Other Current Liabilities |
0.641
|
0.400 |
7.312 |
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Provisions |
0.371
|
0.366 |
1.164 |
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Total
Current Liabilities |
30.078
|
82.158 |
19.080 |
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Net Current Assets |
27.005
|
17.310 |
52.352 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
33.719 |
18.887 |
55.107 |
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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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Income |
239.860 |
201.854 |
242.086 |
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Other Income |
1.299 |
0.299 |
2.520 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.189 |
1.161 |
2.490 |
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Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.189 |
1.161 |
2.490 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.215 |
0.295 |
0.374 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.447 |
4.875 |
3.481 |
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PROFIT BEFORE
TAX (E-F) (G) |
6.421 |
5.741 |
5.597 |
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Less |
TAX (I) |
0.308 |
0.294 |
0.691 |
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PROFIT AFTER TAX
(G-I) (J) |
6.113 |
5.447 |
4.906 |
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|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Income Tax [F.Y. 2008-09] |
0.003 |
0.000 |
0.000 |
|
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|
Income Tax [F.Y. 2004-05] |
0.000 |
0.000 |
0.026 |
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|
Income Tax [F.Y. 2005-06] |
0.000 |
0.000 |
0.002 |
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Income Tax [F.Y. 2006-07] |
0.000 |
0.000 |
0.003 |
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BALANCE CARRIED
TO THE B/S |
6.110 |
5.447 |
4.875 |
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|
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|
|
|
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Earnings Per
Share (Rs.) |
0.65 |
-- |
-- |
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|
Particulars |
|
|
31.03.2011 |
|
|
|
|
|
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Sales Turnover [Approximately] |
|
|
370.000 |
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|
|
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The above information has been parted by Mr. Sanjay Jain [Director of Sister Concern Company]
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.53
|
2.69 |
2.00 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
2.68
|
2.84 |
2.31 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.07
|
5.70 |
7.68 |
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.43 |
0.44 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.96
|
6.66 |
4.88 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.90
|
1.21 |
3.74 |
LOCAL AGENCY FURTHER INFORMATION
Trade References :
- Varsana Ispat Limited – Gandhidham
- ASRM Multi Media Limited - Gandhidham
Financial Results
:
During the year, overall performance of the unit was very good and satisfactory
as compared to the preceding year. The board expects excellent results in the
coming year.
Sundry Creditors
Details
Rs. in millions
|
Sundry Creditors |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Al Kahf Metal Tr.Company
LLC |
0.000 |
36.553 |
0.000 |
|
BGH Exim Private Limited
(CCO Trf) |
0.000 |
0.476 |
1.619 |
|
BGH Exim Limited (Marine) |
0.000 |
1.643 |
1.643 |
|
BGH Exim Private Limited
(Leg. Trfs.) |
0.000 |
0.980 |
0.980 |
|
BGH Exim Limited (PM) |
0.000 |
0.346 |
0.346 |
|
Friends Salt Works and
Allied Industries |
0.000 |
0.104 |
0.249 |
|
Hari Krishna Steel
Corporation |
0.000 |
18.982 |
0.000 |
|
K.otak Petrochem Private
Limited |
0.000 |
0.017 |
0.000 |
|
Khushi Alloys Private
Limited |
0.449 |
0.000 |
0.000 |
|
Metal |
0.000 |
0.096 |
0.000 |
|
New Tech Forge and
Foundary Private Limited |
0.014 |
0.000 |
0.000 |
|
|
1.375 |
0.000 |
0.000 |
|
Space Exim Private
Limited |
0.000 |
0.175 |
0.000 |
|
Samay Impex Private
Limited ( Scrap ) |
4.173 |
0.000 |
0.000 |
|
Trans world Trading FZE |
0.000 |
0.000 |
2.476 |
|
Shiv Transport Company |
0.000 |
0.000 |
0.048 |
|
Gautam Freight Private
Limited |
0.000 |
0.000 |
0.016 |
|
Varsana Ispat Limited |
0.000 |
21.590 |
0.000 |
|
Welspun Guj Stahl Rohren Private
Limited |
22.796 |
0.000 |
0.000 |
|
|
28.807 |
80.962 |
7.377 |
|
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Creditor For
Expenses/Other Payables |
|
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|
|
Anuradha Poddar |
0.000 |
0.228 |
0.114 |
|
Girish V. Thakkar |
0.017 |
0.009 |
0.007 |
|
Hasmukh Dabhi (CL) |
0.096 |
0.048 |
0.000 |
|
Overnite Express Limited |
0.001 |
0.001 |
0.000 |
|
Sanjay C Pandya |
0.001 |
0.000 |
0.000 |
|
Ashapura Enterprise |
0.000 |
0.000 |
3.010 |
|
Bom Gim Couriers |
0.000 |
0.000 |
0.000 |
|
Shree Sales |
0.000 |
0.000 |
0.000 |
|
Vimal Poddar |
0.144 |
0.144 |
0.096 |
|
|
0.259 |
0.430 |
3.227 |
|
Total Creditors |
29.066 |
81.392 |
10.604 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51909GJ2003PTC042157 |
|
Name of the
company |
PANCHSHIL EXIM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1, Plot No 442,
Sector 1A, 1st Floor, Gayatri Mandir Road, Gandhidham – 370201, Gujarat,
India |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10094283 |
|
Type of charge |
|
|
Particular of
charge holder |
Indian Overseas Bank, Gandhidham - 370201, |
|
Nature of
instrument creating charge |
Letter Of
Hypothecation ( For Securing Machineries/Vehicles/Goods/Book-Debts) |
|
Date of
instrument Creating the charge |
25.09.2010 |
|
Amount secured by
the charge |
Rs.67.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- base rate + 4.50 %. Terms of
Repayment - Repayable on Demand. Margin -
Rs.17.500 millions CC : Stocks - 25%, Book-debts - 50%, Letter of Credit :
25% at the time of opening of LC. Extent and
Operation of the charge - The entire charge remain in operation until the
Borrower repay the entire amount along with interest to the Charge Holder. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
Stocks and Books debts and all other Current Assets. Hypothecation of
Stocks and Book debts under L/C Hypothecation of
all Fixed Assets. |
|
Particulars of
the present modification |
Cash credit
enhanced up to Rs.17.500 millions, UBD(I) under L/C enhanced up to Rs.30.000
millions and Letter of Credit enhanced up to Rs.20.000 millions, making
overall total limit enhanced up to Rs.67.500 millions. |
FIXED ASSETS :
·
Metal Cutting Machine
·
Pick and Carry Hydra Crane
·
Furniture and Fixtures
·
Electrical Equipments
·
Motor Car
·
Fax Machine
·
Air Conditioner
·
Telephone Instruments
·
Generator
·
EPABX
·
Xerox Machine
·
Tea Vending Machine
·
Television
·
Mobile Instruments
·
Scanner
·
Two Wheelers
CMT REPORT (Corruption, Money Laundering and 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.44.72 |
|
|
1 |
Rs.71.95 |
|
Euro |
1 |
Rs.64.79 |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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 and 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.