MIRA
INFORM REPORT
|
Report Date : |
16.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRATAP ORGANICS PRIVATE LIMITED |
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Registered
Office : |
C-481/4, TTC, MIDC, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
22.08.2006 |
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Com. Reg. No.: |
163960 |
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Capital Investment
/ Paid-up Capital : |
Rs.7.184 millions |
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CIN No.: [Company Identification
No.] |
U74999MH2006PTC163960 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP26235G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Drug Intermediates and Specialty Chemicals |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 29000 |
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Status : |
Recently Commenced Business |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 2006. The company
started its commercial activities in the year 2010.Trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business with some cautions. |
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 |
|
Risk Category |
ECGC
Classification |
|
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
|
Registered Office : |
C-481/4, TTC, MIDC, |
|
Tel. No.: |
91-22-27670445 / 27633555 |
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Fax No.: |
91-22-27670445 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Amit Pratap Deshmukh |
|
Designation : |
Director |
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Address : |
3/1, Shiv Parvati Complex, Siddhivinayak, Sector – 21, Nerul, Mumbai –
400 056, |
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Date of Birth/Age : |
29.12.1976 |
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Date of Appointment : |
22.08.2006 |
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DIN No. : |
02559744 |
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Name : |
Mr. Pratapsingh Gulabrao Deshmukh |
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Designation : |
Director |
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Address : |
3/1, Shiv Parvati Complex, Siddhivinayak, Sector – 21, Nerul, Mumbai –
400 056, |
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Date of Birth/Age : |
09.01.1946 |
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Date of Appointment : |
22.08.2006 |
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DIN No. : |
02559726 |
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|
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Name : |
Mr. Mohan Shinde |
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Designation : |
Director |
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Address : |
FL-103, PL-1, Sec 16, Sanpada, E-4, |
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Date of Birth/Age : |
01.06.1956 |
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Date of Ceasing : |
01.06.2009 |
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DIN No. : |
02559778 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Pratapsingh Gulabrao Deshmukh |
|
359199 |
|
Amit Pratap Deshmukh |
|
276447 |
|
Ajitsinh Pratapsingh Deshmukh |
|
112 |
|
Pushpalata Pratapsingh Deshmukh
|
|
112 |
|
Anuya Amit Deshmukh |
|
112 |
|
Mohan Sadasive Shinde |
|
2 |
|
Amit Deshmukh Jointly with Pratap Deshmukh |
|
82415 |
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|
|
|
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Total |
|
718399 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Drug Intermediates and Specialty Chemicals |
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Products : |
·
Acetals
Products · Acids ·
Alcohols · Amides ·
Amines · Esters ·
Halogenated
hydrocarbons ·
Hydrocarbons ·
Imines ·
Ketones ·
Phenols |
GENERAL INFORMATION
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jayesh Sanghrajka and Company Chartered Accountant |
|
Address : |
Unit No. 405-408, 4th Floor, Hind Rajasthan Centre, D S
Phalke Road, Dadar (E), Mumbai – 400 014, Maharashtra, India |
|
Tel. No.: |
91-22-40774600 (17 Lines) |
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Fax No.: |
91-22-40774606 |
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E-Mail : |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
718399 |
Equity Shares |
Rs.10/- each |
Rs.7.184
millions |
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 |
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|
|
|
1] Share Capital |
7.184 |
0.100 |
0.100 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.094 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(0.011) |
0.000 |
|
|
NETWORTH |
7.278 |
0.089 |
0.100 |
|
|
LOAN FUNDS |
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|
1] Secured Loans |
7.140 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.149 |
0.149 |
0.149 |
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TOTAL BORROWING |
7.289 |
0.149 |
0.149 |
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DEFERRED TAX LIABILITIES |
0.255 |
0.000 |
0.000 |
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TOTAL |
14.822 |
0.238 |
0.249 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
36.507 |
0.000 |
0.000 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
5.225
|
0.000 |
0.000 |
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Sundry Debtors |
16.130
|
0.000 |
0.000 |
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|
Cash & Bank Balances |
4.287
|
0.000 |
0.000 |
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Other Current Assets |
13.517
|
0.000 |
0.000 |
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|
Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
39.159
|
0.000 |
0.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
59.321
|
0.000 |
0.000 |
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Other Current Liabilities |
1.656
|
0.011 |
0.000 |
|
|
Provisions |
0.066
|
0.000 |
0.000 |
|
Total
Current Liabilities |
61.043
|
0.011 |
0.000 |
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Net Current Assets |
(21.884)
|
(0.011) |
0.000 |
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MISCELLANEOUS EXPENSES |
0.199 |
0.249 |
0.249 |
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TOTAL |
14.822 |
0.238 |
0.249 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Net Sales and Other Incomes from Operations |
|
17.233 |
0.000 |
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Other Income |
|
0.847 |
0.000 |
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TOTAL (A) |
|
18.080 |
0.000 |
|
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Less |
EXPENSES |
|
|
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|
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|
Cost of Goods Sold |
|
8.275 |
0.000 |
|
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|
Manufacturing and Other Expenses |
|
4.015 |
0.000 |
|
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Administrative and Selling Expenses |
|
3.396 |
0.011 |
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Personnel Expenses |
|
1.653 |
0.000 |
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TOTAL (B) |
|
17.339 |
0.011 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.741 |
0.000 |
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Less |
FINANCE CHARGES |
|
0.052 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.689 |
0.000 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.263 |
0.000 |
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PROFIT BEFORE
TAX (E-F) (G) |
|
0.426 |
(0.011) |
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Less |
TAX (H) |
|
0.321 |
0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
|
0.105 |
(0.011) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(0.011) |
-- |
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BALANCE CARRIED
TO THE B/S |
|
0.094 |
(0.011) |
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|
Earnings Per
Share (Rs.) |
|
8.81 |
(1.10) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.58
|
0.00 |
NA |
|
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Net Profit Margin (PBT/Sales) |
(%) |
2.47
|
0.00 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.56
|
0.00 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(0.12) |
NA |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
9.39
|
1.80 |
1.49 |
|
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|
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
0.64
|
0.00 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS
·
Computers and Printers
·
Furniture and Fixtures
·
Land
·
Building
·
Office Equipments
·
Plant and Machinery
·
Vehicles
WEB DETAILS
Profile
Commencing
as manufacturers of Drug Intermediates and Specialty Chemicals in the year
1989, the natural growth of subject at the nurturing and experienced hands of
Mr. P.G. Deshmukh has known no bounds.
The
ISO 9001:2000 certified modern plant, located at Thane Belapur road,
At
the heart of the planned production and unique exports strategy lies the
aspiration of focusing on export orientation and international quality
products. This is why within a short span of time subject has earned the
reputation of being one of the major and infallible suppliers of intermediates
and specialty chemicals across the globe. They are a team of Performing range
of Aptitude, Talented and Affirmative Professionals, when it comes to quality
and excellence.
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 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.44.90 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.63.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.