MIRA
INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRATHAM TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
43/59 “Sneh” Navsayadri Society, Karve Nagar, Pune –
411052, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation / Year of Establishment
: |
10.04.2000 |
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Com. Reg. No.: |
25-014742 |
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Capital
Investment / Paid-up Capital : |
Rs.0.800 Million |
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CIN No.: [Company
Identification No.] |
U72200PN2000PTC014742 |
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IEC No.: |
3101007445 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP09080B |
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PAN No.: [Permanent Account No.] |
AACCP2652G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Paper Folding Machine – ‘Super Fold’ , “Cartonova”,
“PGV – V. F.”, Sealowrap Machine – “L – Sealer & Tunnel” |
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No. of Employees
: |
50 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca [19] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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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 track. There appears
huge accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Shrikant |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9623441263 |
|
Date : |
17.06.2011 |
LOCATIONS
|
Registered Office : |
43/59 “Sneh” Navsayadri Society, Karve Nagar, Pune –
411052, |
|
Tel. No.: |
91-20-5469125 / 24355765 / 24352624 / 24352557 |
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Mobile No.: |
91-9623441263 [Mr. Shrikant] |
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Fax. No.: |
91-20-24352557 |
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E-Mail : |
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Website : |
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Area : |
1200 Sq. ft |
|
Location : |
Owned |
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Corporate Office : |
Shop No.14, Dhadge Industrial Estate, Near Savli Dhaba, Sinhagad Road,
Nanded Phata, Pune - 411041, Maharashtra, India |
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Correspondence Address |
251, B, Shaniwar Peth, Near Mutheshwar Mandal, |
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Tel. No.: |
91 20 24493191 |
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Factory : |
4/2A, Baug, Daulatnager, Mumbai – |
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Tel. No.: |
91-20-24355765 |
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Fax No.: |
91-20-24352527 |
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E-Mail : |
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Area : |
3000 Sq. ft |
|
Location : |
Rented |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Datta Hari Deshpande |
|
Designation : |
Director |
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Address : |
B – 10, Snehal Clasique, Vimlabai Jadhav Path, Shivaji
Nagar, Pune, Maharashtra, India |
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Date of Birth/Age : |
30.11.1963 |
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Qualification : |
BE (Electrical) |
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Date of Appointment : |
10.04.2000 |
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DIN : |
00249722 |
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|
|
|
Name : |
Mr. Sanjay Madhav
Dandekar |
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Designation : |
Managing Director |
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Address : |
43/59 “Sneh” Navsayadri Society, Karve Nagar, Pune –
411052, |
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Date of Birth/Age : |
07.03.1964 |
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Qualification : |
BE (Electrical) |
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Date of Appointment : |
01.11.2006 |
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DIN : |
00249683 |
KEY EXECUTIVES
|
Name : |
Mr. Shrikant |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Datta H Deshpande |
|
40000 |
|
Sanjay M Dandekar |
|
40000 |
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Total |
|
80000 |
As on 30.09.2009
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Paper Folding Machine – ‘Super Fold’ ,
“Cartonova”, “PGV – V. F.”, Sealowrap Machine – “L – Sealer &
Tunnel” |
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Products : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS As on 31.03.2009
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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|
Machines |
-- |
-- |
-- |
130.00 |
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GENERAL INFORMATION
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No. of Employees : |
50 [Approximately] |
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Bankers : |
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sharad Shah and Company Chartered Accountant |
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Address : |
Gokul Nagar – B, 1184/4, |
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Tel. No.: |
91-20-25535405 / 25535426 |
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Fax No.: |
91-20-25536624 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90,000 |
Equity Shares |
Rs.10/- each |
Rs.0.900
Million |
|
10,000 |
Preference Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
|
|
Total |
|
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80,000 |
Equity Shares |
Rs.10/- Each |
Rs.0.800 Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.800 |
0.800 |
0.800 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
0.000 |
0.882 |
0.464 |
|
|
4] (Accumulated Losses) |
[2.658] |
0.000 |
0.000 |
|
|
NETWORTH |
[1.858] |
1.682 |
1.264 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.141 |
3.003 |
0.702 |
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|
2] Unsecured Loans |
0.325 |
0.539 |
0.139 |
|
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TOTAL BORROWING |
3.466 |
3.542 |
0.841 |
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|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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TOTAL |
1.608 |
5.224 |
2.105 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.280 |
1.626 |
1.738 |
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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 |
0.067 |
0.225 |
0.168 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.370
|
7.601 |
3.278 |
|
|
Sundry Debtors |
4.209
|
7.945 |
3.956 |
|
|
Cash & Bank Balances |
0.630
|
0.477 |
2.052 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
2.147
|
1.911 |
0.963 |
|
Total
Current Assets |
18.356
|
17.934 |
10.249 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.654
|
6.029 |
|
|
|
Other Current Liabilities |
10.937
|
7.121 |
-- |
|
|
Provisions |
1.504
|
1.411 |
1.954 |
|
Total
Current Liabilities |
18.095
|
14.561 |
10.050 |
|
|
Net Current Assets |
0.261
|
3.373 |
0.199 |
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.608 |
5.224 |
2.105 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
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INCOME
[A] |
32.305 |
30.304 |
27.520 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES
[B] |
34.908 |
29.274 |
24.009 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[2.603] |
1.030 |
3.511 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
[2.603] |
1.030 |
3.511 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.425 |
0.595 |
0.712 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
[3.028] |
0.435 |
2.799 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.336 |
0.017 |
1.230 |
|
|
|
|
|
|
|
|
|
Less |
Expenses for
earlier years |
0.176 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
[3.540] |
0.418 |
1.569 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend and Tax thereon |
0.000 |
0.000 |
1.140 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
0.429 |
|
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|
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|
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|
EARNINGS IN
FOREIGN CURRENCY |
1.114 |
0.626 |
0.265 |
|
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|
|
|
|
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|
IMPORTS |
0.251 |
0.000 |
0.085 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
[44.25] |
-- |
-- |
|
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sales Turnover [Approximately] |
|
50.000 |
50.000 |
|
|
|
|
|
Expected Sales ( 2011-2012 ) : Rs.120.000 millions
The above information has been parted by Mr. Shrikant [Accounts Manager]
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
[10.96]
|
1.38 |
5.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[15.42]
|
2.22 |
23.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[1.63]
|
0.26 |
2.21 |
|
|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
[11.60]
|
10.76 |
8.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
1.23 |
1.02 |
LOCAL AGENCY FURTHER INFORMATION
The turnover increased marginally
by 6 % as compared to the previous year. The exports stood at Rs.1.114 millions
as against Rs. 0.626 millions in the previous year. The operations resulted
into a loss of Rs. 3.540 millions. The loss is attributable to the increase in
the cost of inputs and heavy amount of expenditure incurred at the
international exhibition held in
During the year under the
consideration, the Company participated in exhibition held in
The Directors are hopeful of
achieving better results in the current year.
Contingent
Liabilities
(Rs. in million)
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Payment to
Auditors |
|
|
|
0.080 |
0.062 |
|
0.006 |
0.022 |
|
0.002 |
0.001 |
|
Total |
0.088 |
0.085 |
FORM 8
|
Corporate identity
number of the company |
U72200PN2000PTC014742 |
|
Name of the
company |
PRATHAM TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
43/59 “Sneh” Navsayadri Society, Karve Nagar, Pune –
411052, |
|
This form is for |
Modification of
Charges |
|
Charge identification (ID) number of the charge to be modified |
10113476 |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Bank of |
|
Nature of
instrument creating charge |
Supplemental Deed
Of Hypothecation |
|
Date of
instrument Creating the charge |
06.04.2011 |
|
Amount secured by
the charge |
Rs.5.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests:- 3.75% above BR,13.25% p.a. at present with monthly rest or as notified
by the bank from time to time Terms of
Repayment:- Repayment on Demand Margin:- 25% for
Stock 40% for Book
Debts Extent and
Operation of the Charge :- First Charge on Assets Hypothecated in favour of
Bank |
|
Short Particulars
of the property charged |
All tangible
movable machinery and plant, both present and future whether installed or not
and whether lying loose or in cases at site or in transit. All tangible
movable property and assets of whatsoever nature other than movable and
uninstalled machines of the borrower both present and future and including
but without prejudice to the generality of the foregoing all
stocks of raw materials, such as electronic motors, driver PLC's , machinery,
components finished and semi-finished goods, spare parts, components
including spare parts and stores relating to plant and
machinery both present and future and stocks in process of the borrower
wheresoever situate at Sr. No.14, Dhadge Ind Estate, Nanded Phata, Sinhgad
Rd, Nr.,Savali Dhaba, Pune 411041. All the present
and future book-debts, outstandings, money receivables, claims, bills due from any party. |
|
Particulars of
the present modification |
After this
modification limit becomes Rs.5.000 millions ( CC Stock Rs. 5.000 millions
and CC Book Debts Rs.3.000 millions, maximum Rs. 5.000 millions) |
FIXED ASSETS :
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixtures
- Computer
- Office
Equipments
- Electrical
Installations
- Vehicles
- Technical
Knowhow
- Motor Car
- Sterling
- Fax Machine
- Air Conditioner
- Generator
- EPABX
- Fire Extinguisher
- Type Writer
- Xerox Machine
- Sewing Machine
- Steel Tub
- Mobile Phones
- Refrigerator
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.45.10 |
|
|
1 |
Rs.71.87 |
|
Euro |
1 |
Rs.63.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
19 |
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.