MIRA
INFORM REPORT
|
Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRESTO STANTEST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-117, F.F. Complex, Okhla Industrial Area, Phase III, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
12.06.1997 |
|
|
|
|
Com. Reg. No.: |
55-087892 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33125DL1997PTC087892 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP06795F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP9778K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Material Testing Instruments Like Textile
and Yarn Testing Instruments, Plastic and Packaging Testing Instruments,
Rubber Testing Instruments etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 53000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (Partial Details)
|
Name : |
Mr. Vishal Malhotra |
|
Designation : |
Director |
|
Date : |
05.03.2011 |
LOCATIONS
|
Registered Office : |
C-117, F.F. Complex, Okhla Industrial Area, Phase III, |
|
Tel. No.: |
91-129-4085000 |
|
Fax No.: |
91-129-4083111 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
950 sq ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
I-42, DLF Industrial Area, Phase – 1, |
|
Tel. No.: |
91-129-4085000 (Multiple Lines)/ 4113630 |
|
Fax No.: |
91-129-4083111 |
|
E-Mail : |
|
|
Area : |
950 sq ft |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Vishal Malhotra |
|
Designation : |
Whole Time Director |
|
Address : |
House No.7, Block - IV, Erose Garden, Suraj Kund Road, Charm Wood Village,
Surajkund Road, Faridabad – 121 009, Haryana, India |
|
Date of Birth/Age : |
08.09.1972 |
|
Qualification : |
B. Tec – MBA |
|
Experience : |
17 Years |
|
Date of Appointment : |
20.06.1997 |
|
DIN No.: |
00530773 |
|
|
|
|
Name : |
Mr. Gaurav Malhotra |
|
Designation : |
Whole Time Director |
|
Address : |
House No.7, Block - IV, Erose Garden, Suraj Kund Road, Charm Wood
Village, Surajkund Road, Faridabad – 121 009, Haryana, India |
|
Date of Birth/Age : |
24.01.1975 |
|
Qualification : |
B.Com-MBA |
|
Experience : |
15 Years |
|
Date of Appointment : |
20.06.1997 |
|
DIN No.: |
00530803 |
|
|
|
|
Name : |
Mr. Anil Malhotra |
|
Designation : |
Director |
|
Address : |
House No.7, Block - IV, Erose Garden, Suraj Kund Road, Charm Wood
Village, Surajkund Road, Faridabad – 121 009, Haryana, India |
|
Date of Birth/Age : |
03.09.1944 |
|
Date of Appointment : |
20.06.1997 |
|
DIN No.: |
02038482 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Vishal Malhotra |
|
158100 |
|
Gaurav Malhotra |
|
148100 |
|
Anil Malhotra |
|
62600 |
|
Veena Malhotra |
|
100 |
|
Kanika Malhotra |
|
54000 |
|
Pooja Malhotra |
|
47500 |
|
Total
|
|
470400 |
As on 28.12.2010
|
Names of Allottees |
|
No. of Shares |
|
Kanika Malhotra |
|
800 |
|
Pooja Malhotra |
|
7300 |
|
Anil Malhotra |
|
4000 |
|
Total
|
|
12100 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Material Testing Instruments Like Textile
and Yarn Testing Instruments, Plastic and Packaging Testing Instruments,
Rubber Testing Instruments etc. |
|
|
|
|
Products : |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
|
|
|
Purchase/
Production |
|
Testing Machines |
|
|
|
3596 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Notes: Secured loans are
secured as per detail below: a) Kotak
Mahindra Bank- Secured against Property at I-10A DLF b) Central Bank
of c) SIDBI -
Secured against Land & Building at I 42A DLF Industrial Area,
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Satish Singla and Company Chartered Accountants |
|
Address : |
1st Floor, SCO 107, Sector 16, |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
850000 |
Equity Shares |
Rs.10/- each |
Rs.8.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
482500 |
Equity Shares |
Rs.10/- each |
Rs.4.825
millions |
|
|
|
|
|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
850000 |
Equity Shares |
Rs.10/- each |
Rs.8.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
470400 |
Equity Shares |
Rs.10/- each |
Rs.4.704
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 |
|
|
|
|
|
1] Share Capital |
4.704 |
4.704 |
3.189 |
|
|
2] Share Application Money |
1.100 |
0.000 |
1.415 |
|
|
3] Reserves & Surplus |
7.327 |
5.050 |
3.962 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13.131 |
9.754 |
8.566 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
21.430 |
20.183 |
15.708 |
|
|
2] Unsecured Loans |
0.000 |
7.102 |
12.058 |
|
|
TOTAL BORROWING |
21.430 |
27.285 |
27.766 |
|
|
DEFERRED TAX LIABILITIES |
0.396 |
0.116 |
0.102 |
|
|
|
|
|
|
|
|
TOTAL |
34.957 |
37.155 |
36.434 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.110 |
13.248 |
13.740 |
|
|
Capital work-in-progress |
0.000 |
11.871 |
1.504 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.600
|
14.583 |
19.992 |
|
|
Sundry Debtors |
1.114
|
0.880 |
1.681 |
|
|
Cash & Bank Balances |
1.378
|
1.967 |
1.005 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.726
|
1.230 |
2.448 |
|
Total
Current Assets |
12.818
|
18.660 |
25.126 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.363
|
1.802 |
1.949 |
|
|
Other Current Liabilities |
3.563
|
4.805 |
2.043 |
|
|
Provisions |
0.087
|
0.066 |
0.000 |
|
Total
Current Liabilities |
6.013
|
6.673 |
3.992 |
|
|
Net Current Assets |
6.805
|
11.987 |
21.134 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.042 |
0.049 |
0.056 |
|
|
|
|
|
|
|
|
TOTAL |
34.957 |
37.155 |
36.434 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
59.106 |
36.035 |
38.693 |
|
|
|
Other Income |
1.415 |
0.912 |
NA |
|
|
|
TOTAL (A) |
60.521 |
36.947 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing
Expenses |
42.644 |
20.881 |
21.749 |
|
|
|
Administrative
& Other Expenses |
10.018 |
10.101 |
12.304 |
|
|
|
Preliminary
Expenses Written Off |
0.007 |
0.007 |
NA |
|
|
|
TOTAL (B) |
52.669 |
30.989 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.852 |
5.958 |
6.153 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.322 |
3.882 |
3.008 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.530 |
2.076 |
3.145 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.163 |
0.969 |
1.247 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.367 |
1.107 |
1.898 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.090 |
0.419 |
0.786 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.277 |
0.688 |
1.112 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.650 |
0.462 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.500 |
0.500 |
1.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2.427 |
0.650 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6.668 |
4.609 |
NA |
|
|
TOTAL EARNINGS |
6.668 |
4.609 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Value of imports
on CIF |
2.451 |
0.838 |
NA |
|
|
TOTAL IMPORTS |
2.451 |
0.838 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.84 |
1.46 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.76
|
1.86 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.70
|
3.07 |
4.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.23
|
3.47 |
4.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.11 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.09
|
3.48 |
3.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.13
|
2.80 |
6.29 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from C-118, F.F.
Complex Okhla Industrial Area,
FORM 8:
|
Corporate
identity number of the company |
U33125DL1997PTC087892 |
|
Name of the
company |
PRESTO STANTEST PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-117, F.F. Complex, Okhla Industrial Area, Phase III, E-Mail: presto@vsnl.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property Book Debts Movable Property Others (Counter
Guarantee by the Company) |
|
Particular of
charge holder |
Central Bank of E-Mail: bmroht0402@centralbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation to Secure Demand Cash Credit Against Goods Sanction Letter
of Bank General Counter
Guarantee and Indemnity Covering Several Guarantees within the sanctioned
Guarantee Limit |
|
Date of
instrument Creating the charge |
20/01/2010 |
|
Amount secured by
the charge |
Rs.9.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
As per Agreement dated 20/01/2010 Terms of
Repayment: As per Agreement dated 20/01/2010 Margin: As per
Agreement dated 20/01/2010 Extent and
Operation of the charge: To the extent of Rs.9.000 millions together with
interest in terms of loan agreement and bank norms from time to time. Others: First
charge on Current assets including Stocks, Book Debts and other Current
assets to secure credit limit of Rs.9.000 millions sanctioned to the company. |
|
Short particulars
of the property charged |
Collateral
Security of Land and Building situated at 18-A/4 and 18-A/5, DLF Industrial
Area, Phase I, |
FIXED ASSETS:
·
Land
·
·
·
Furniture
and Fixture
·
Computer
·
Vehicles
·
Plant
and Machinery
WEBSITE DETSAILS:
PROFILE:
Thriving on industry knowledge, research and development, they at
Subject have established theirselves as one of the leading manufacturers and
exporters of quality testing equipments and material testing equipment. They
manufacture equipments that meet the testing requirements of a diverse range of
industries. With constant innovation, refinement and unwavering commitment to
quality, they have gained a reputation for excellence among their customers and
peers. Efficient distribution systems and timely delivery schedules have
endeared them to their customers spread around the world.
INFRASTRUCTURE:
Subject’s production facilities are equipped with the cutting-edge technology.
Incorporating advanced production methods and backed by a team of
professionals, they have been setting benchmarks for excellence in the
industry. Technology plays a very important role in the engineering of high
precision products. They boast of efficient and dedicated engineers who produce
satisfactory results for their valued buyers. Their investment in the
enhancement of facilities and streamlining of procedures provides assurance
that all their products meet customer expectations for reliable performance and
quality.
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.45.03 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.62.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.