MIRA
INFORM REPORT
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Report Date : |
05.07.2011 |
IDENTIFICATION DETAILS
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Name : |
PID PRIVATE LIMITED |
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Formerly Known As : |
PATEL INDIA DISTRIBUTORS PRIVATE LIMITED |
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Registered Office : |
Filmlab 27, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
10.01.1994 |
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Com. Reg. No.: |
11-075969 |
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Paid-Up Capital : |
Rs. 90.000 Millions |
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CIN No.: [Company
Identification No.] |
U51109MH1994PTC075969 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP07313F |
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PAN No.: [Permanent
Account No.] |
AAACP7054Q |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Distributors
of Fujifilm including motion picture films, professional films and computer
products |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (53) |
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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 1600000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. The company
is doing well. Trade relations are reported as fair. Business is active.
Payments are reported to be correct and as per commitments. The company can be considered good for normal 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
LOCATIONS
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Registered Office : |
Filmlab 27, |
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E-Mail : |
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Website : |
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Head Office : |
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Tel. No.: |
91-22-40699699 |
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Fax No.: |
91-22-40699611 |
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E-Mail : |
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Branches : |
Located at:
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DIRECTORS
As On 28.09.2010
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Name : |
Mr. Sanjay Kantilal Patel |
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Designation : |
Managing Director |
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Address : |
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Date of Birth/Age : |
16.09.1960 |
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Date of Appointment : |
10.01.1994 |
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DIN No.: |
00015277 |
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Name : |
Mrs. Anita Sanjay Patel |
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Designation : |
Whole Time Director |
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Address : |
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Date of Birth/Age : |
25.07.1960 |
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Date of Appointment : |
24.08.1998 |
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DIN No.: |
00015234 |
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Name : |
Mr. Harshul Rusesh Amin |
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Designation : |
Director |
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Address : |
Urmi 9th Floor, 65 |
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Date of Birth/Age : |
17.07.1958 |
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Date of Appointment : |
01.10.2001 |
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DIN No.: |
00017927 |
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Name : |
Mr. Ujwal Narayan Nirgudkar |
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Designation : |
Director |
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Address : |
11A/57, Piramal Nagar, |
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Date of Birth/Age : |
25.11.1953 |
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Date of Appointment : |
02.07.2007 |
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DIN No.: |
01653650 |
KEY EXECUTIVES
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Name : |
Mr. Devendra Singh Varma |
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Designation : |
Secretary |
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Address : |
D401B, N G Park Building 6, Rawalpada, Dahisar, Mumbai – 400068, |
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Date of Birth/Age : |
25.04.1979 |
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Date of Appointment : |
26.12.2006 |
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Pan No : |
ADLPV8331P |
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Name : |
Mr. Ashutosh M Patel |
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Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 28.09.2010
|
Names of Shareholders |
No. of Shares |
|
Sanjay Kantilal Patel Joint with Patel Sanjay Anita |
8057400 |
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Patel Sanjay Anita Joint with Sanjay Kantilal Patel |
912000 |
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Sanjay Kantilal Patel (HUF) |
30600 |
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Total |
9000000 |
As On 28.09.2010
|
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 : |
Distributors
of Fujifilm including motion picture films, professional films and computer
products |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah and Taparia Chartered Accountant |
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Address : |
12, Navjeevan Wadi, Dhobi Talao, Mumbai – 400 002, |
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Mobile No.: |
91-22-66319266 / 67/ 68 |
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E-Mail : |
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Pan No.: |
AAOFS0663D |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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12000000 |
Equity Share |
Rs.10/- Each |
Rs.120.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9000000 |
Equity Share |
Rs.10/- Each |
Rs.90.000
Millions |
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NOTE:
Of above 75,00,000 Equity shares of Rs.10/-
each are issued as fully paid up bonus shares by capitalisation of reserves.
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 |
90.000 |
90.000 |
90.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
317.472 |
252.701 |
202.518 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
407.472 |
342.701 |
292.518 |
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LOAN FUNDS |
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1] Secured Loans |
30.592 |
0.000 |
0.000 |
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2] Unsecured Loans |
65.745 |
48.975 |
55.933 |
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TOTAL BORROWING |
96.337 |
48.975 |
55.933 |
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DEFERRED TAX LIABILITIES |
15.775 |
5.637 |
7.526 |
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TOTAL |
519.584 |
397.313 |
355.977 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
209.947 |
128.732 |
158.723 |
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Capital work-in-progress |
0.000 |
37.319 |
0.000 |
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INVESTMENT |
80.964 |
5.000 |
19.771 |
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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 |
128.809
|
163.154 |
62.998
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Sundry Debtors |
178.836
|
158.219 |
128.861
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Cash & Bank Balances |
62.897
|
74.207 |
89.606
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Other Current Assets |
0.000
|
0.000 |
0.000
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Loans & Advances |
108.586
|
125.416 |
76.040
|
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Total
Current Assets |
479.128
|
520.996 |
357.505
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
213.496
|
277.035 |
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Other Current Liabilities |
35.118
|
16.795 |
179.703
|
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Provisions |
1.841
|
0.904 |
0.319
|
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Total
Current Liabilities |
250.455
|
294.734 |
180.022
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Net Current Assets |
228.673
|
226.262 |
177.483
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
519.584 |
397.313 |
355.977 |
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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 |
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Other Income |
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TOTAL |
972.551 |
892.515 |
782.442 |
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Less |
EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
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Financial Expenses |
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TOTAL |
874.144 |
773.926 |
620.575 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
118.589 |
161.867 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
38.972 |
38.204 |
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PROFIT BEFORE
TAX |
98.407 |
79.617 |
123.663 |
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Less |
TAX |
33.636 |
29.435 |
41.758 |
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PROFIT AFTER TAX
|
64.771 |
50.182 |
81.905 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
202.519 |
120.614 |
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BALANCE CARRIED
TO THE B/S |
NA |
252.701 |
202.519 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
3.023 |
0.986 |
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Commission Received |
0.293 |
0.000 |
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TOTAL EARNINGS |
3.316 |
0.986 |
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IMPORTS |
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Raw Materials and Stores |
1.995 |
3.354 |
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Trading Goods |
486.522 |
528.223 |
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Capital Goods |
93.118 |
38.570 |
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Others |
7.687 |
4.628 |
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TOTAL IMPORTS |
589.322 |
574.775 |
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Earnings Per
Share (Rs.) |
7.20 |
NA |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.66
|
5.62 |
10.47 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.28
|
19.81 |
23.96 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.23 |
0.42 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.85
|
1.00 |
0.81 |
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Current Ratio (Current Asset/Current Liability) |
|
1.91
|
1.77 |
1.99 |
LOCAL AGENCY FURTHER INFORMATION
Form: 8
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Corporate
identity number of the company |
U51109MH1994PTC075969 |
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Name of the
company |
PID PRIVATE
LIMITED |
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Address of the registered
office or of the principal place of
business in |
Film Centre, |
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This form is for |
Creation of
charge |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Yes Bank Limited – 9th Floor, Nehru Centre, Discovery of E-Mail: shareholders@yesbank.in |
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Nature of description
of the instrument creating or modifying the charge |
Hypothecation
Agreement |
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Date of
instrument Creating the charge |
25.05.2011 |
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Amount secured by
the charge |
Rs.100.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Credit Facility. Interest /
Commission - As agreed by and with the Bank from time to time. Terms of
Repayment As agreed by and
with the Bank from time to time. Margin As applicable, if
any. Extent and
Operation of the charge The Bank is
having pari passu charge on security given by the Company |
|
Short particulars
of the property charged |
Hypothecation by way
of first pari passu charge on whole of the current assets. Hypothecation by
way of second pari passu charge on whole of the movable fixed assets. |
FIXED ASSETS:
- Structure on
Leaseholds Buildings
- Plant and
Machinery
- Office
Equipments
- Furniture and
Fittings
- Computers and
Software
- Software
- Theater Hall
- Vehicles
AS PER WEBSITE DETAILS
PROFILE:
Patel
A long association in the motion picture industry, spanning back to the 1940’s,
and association with Fujifilm since the, 1960’s, have
provided a solid foundation for Patel
Patel
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.44.56 |
|
|
1 |
Rs.71.53 |
|
Euro |
1 |
Rs.64.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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.