MIRA
INFORM REPORT
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Report Date : |
06.06.2011 |
IDENTIFICATION DETAILS
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Name : |
PRECISION ABRASIVES PRIVATE LIMITED |
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Registered
Office : |
C-28, Mayfair Garden, New Delhi – 110016, Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.04.2003 |
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Com. Reg. No.: |
55-119653 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500 million |
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CIN No.: [Company Identification
No.] |
U74999DL2003PTC119653 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELP08317B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Grinding Wheel. |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (47) |
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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 18000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 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 – April 1, 2010
|
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 PARTED BY
|
Name : |
Mr. Sandeep |
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Designation : |
Accountant |
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Contact No.: |
91-11-42665151 |
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Date : |
03.06.2011 |
LOCATIONS
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Registered Office : |
C-28, Mayfair Garden, New Delhi – 110016, Delhi, India |
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Tel. No.: |
91-11-42665151 |
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Fax No.: |
91-11-26563695 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Narendra Mohan Gupta |
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Designation : |
Director |
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Address : |
C-28, Mayfair, Garden, New Delhi – 110016, South Delhi, India |
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Date of Birth/Age : |
10.10.1959 |
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Date of Appointment : |
01.04.2003 |
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Din No.: |
00556897 |
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Name : |
Mr. Tuna Agarwal |
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Designation : |
Director |
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Address : |
J-4/6, DLF Phase, Gurgaon – 122002, Haryana, India |
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Date of Birth/Age : |
07.01.1975 |
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Date of Appointment : |
02.01.2006 |
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Din No.: |
01089337 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
|
Narendra Mohan Gupta |
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15000 |
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Tuna Agarwal |
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15000 |
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Aseem Agarwal |
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10000 |
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Sangeeta Gupta |
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10000 |
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Total |
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50000 |
AS ON 30.09.2010
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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 of Grinding Wheel. |
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Products : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
Trader |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
CORPORATION BANK,
M-3 and 4, Greater Kailash-II, New Delhi – 110048, Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ramesh Shah Chartered Accountant |
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Address : |
D-51, Hauz Khas, New Delhi – 110016, Delhi, India |
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Tel. No.: |
91-11-26196284 |
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Fax No.: |
91-11-26164757 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.089 |
2.299 |
1.486 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4.589 |
2.799 |
1.986 |
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LOAN FUNDS |
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1] Secured Loans |
0.910 |
1.055 |
1.364 |
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2] Unsecured Loans |
11.060 |
8.992 |
8.937 |
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TOTAL BORROWING |
11.970 |
10.047 |
10.301 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.559 |
12.846 |
12.287 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.882 |
2.093 |
2.526 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.095 |
0.063 |
0.011 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.421
|
3.977 |
5.721 |
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Sundry Debtors |
11.839
|
8.491 |
8.629 |
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Cash & Bank Balances |
1.973
|
4.128 |
2.598 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1.260
|
0.887 |
0.719 |
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Total
Current Assets |
23.493
|
17.483 |
17.667 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Other Current Liabilities |
8.061
|
6.260 |
7.543 |
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Provisions |
0.850
|
0.533 |
0.374 |
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Total
Current Liabilities |
8.911
|
6.793 |
7.917 |
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Net Current Assets |
14.582
|
10.690 |
9.750 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.559 |
12.846 |
12.287 |
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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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TURNOVER |
62.787 |
39.006 |
35.792 |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
50.180 |
37.679 |
34.803 |
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Interest |
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Depreciation |
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TOTAL |
50.180 |
37.679 |
34.803 |
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PROFIT BEFORE
TAX |
2.607 |
0.793 |
0.990 |
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Less |
TAX |
0.850 |
0.000 |
0.374 |
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PROFIT AFTER TAX |
1.757 |
0.793 |
0.616 |
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IMPORTS |
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Raw Materials |
22.809 |
NA |
12.692 |
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TOTAL IMPORTS |
22.809 |
NA |
12.692 |
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Earnings Per
Share (Rs.) |
0.035 |
0.016 |
0.012 |
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Particulars |
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|
31.03.2011 |
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Sales Turnover (Approximately) |
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|
70.000 |
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The above information has been parted by Mr. Sandeep.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.79
|
2.03 |
1.72 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.27
|
4.05 |
2.76 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.56
|
0.28 |
0.49 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.55
|
6.01 |
9.17 |
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Current Ratio (Current Asset/Current Liability) |
|
2.63
|
2.57 |
2.23 |
LOCAL AGENCY FURTHER INFORMATION
FROM : 8
|
Corporate identity number of the company |
U74999DL2003PTC119653 |
|
Name of the company |
PRECISION ABRASIVES PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
C-28 May Fair Garden, New Delhi –
110016, Delhi, INDIA |
|
This form is for |
Creation of charge |
|
Type of charge |
Others |
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Particular of charge holder |
CORPORATION BANK, M-3 and 4, Greater
Kailash-II, New Delhi – 110048, Delhi, India |
|
Nature of instrument creating charge |
Agreement For Hypothecation of Vehicle
dated 12th May, 2011 |
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Date of instrument Creating the charge |
12/05/2011 |
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Amount secured by the charge |
Rs. 0.500 million |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest 9.50% P.A. (Base Rate +1.25%) Terms
of repayment To be repaid in 36 months in 36 EMI of Rs
0.016 millions each Margin 18.30% Extent
and operation of the charge Hypothecation of a Brand New Mahindra BOL
Pick up CNG BS with Closed Body and Accessories (Reg. No. DL1LP 0598) costing
Rs 0.612 millions is to secure the loan of Rs. 0.500 millions sanctioned to
the Company. Other
NIL |
FIXED ASSETS :
·
Box Stamping Machine
·
Inverter
·
Office Equipments
·
Plant and Machinery
·
Shaff Grinder
·
Fan
·
Cycle
·
Tacho Mater
·
Vanier Capplipers
·
Air Conditioner
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. 44.85 |
|
|
1 |
Rs. 73.29 |
|
Euro |
1 |
Rs. 64.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.