1. Summary Information
|
|
|
Country |
|
|
Company Name |
PCH MARKETING
PRIVATE LIMITED |
Principal Name 1 |
Mr. Huzur Singh |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Sutinder Singh |
|
|
|
Registration # |
01-008970 |
|
Street Address |
5-9-22/53,
Adarsh Nagar, |
||
|
Established Date |
23.08.1988 |
SIC Code |
-- |
|
Telephone# |
91-40-6666090 /
23240490 / 93 |
Business Style 1 |
Distributor |
|
Fax # |
91-40-23240489 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
mobile phones |
|
# of employees |
-- |
Product Name 2 |
readymade garments |
|
Paid up capital |
Rs. 46000000 /- |
Product Name 3 |
consumer electronics |
|
Shareholders |
Directors or relatives of
directors – 100% |
Banking |
Kotak Mahindra
Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
22 (Years ) |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
724,532,000 |
Current Liabilities |
514,257,000 |
|
Inventories |
751,518,000 |
Long-term Liabilities |
663,229,000 |
|
Fixed Assets |
4,681,000 |
Other Liabilities |
-- |
|
Deferred Assets |
339,000 |
Total Liabilities |
1,177,486,000 |
|
Invest& other Assets |
-- |
Retained Earnings |
257,584,000 |
|
|
|
Net Worth |
303,584,000 |
|
Total Assets |
1,481,070,000 |
Total Liab. & Equity |
1,481,070,000 |
|
Total Assets (Previous Year) |
1,068,306,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
46,353,000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
18,637,000 |
MIRA
INFORM REPORT
|
Report Date : |
15.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
PCH MARKETING PRIVATE LIMITED |
|
|
|
|
Registered Office : |
5-9-22/53, Adarsh Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
23.08.1988 |
|
|
|
|
Com. Reg. No.: |
01-008970 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U52520AP1988PTC008970 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Distributor of mobile phones, readymade garments and consumer
electronics. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1214000 |
|
|
|
|
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 |
LOCATIONS
|
Registered Office : |
5-9-22/53, Adarsh Nagar, |
|
Tel. No.: |
91-40-6666090 / 23240490 / 93 |
|
Fax No.: |
91-40-23240489 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
No.6, |
|
E-Mail: |
|
|
|
|
|
Corporate Office : |
5-9-1115/A, Kanchanjunga Complex, Gunfoundary, |
|
Tel. No.: |
91-40-44524452 |
|
Fax No.: |
91-40-23240489 |
|
E-Mail: |
|
|
|
|
DIRECTORS
AS ON : 14.07.2010
|
Name : |
Mr. Huzur Singh |
|
Designation : |
Managing Director |
|
Address : |
5-9-1115/A, Kanchanjunga Complex, |
|
Date of Birth/Age : |
15.11.1928 |
|
Date of Appointment : |
23.08.1988 |
|
|
|
|
Name : |
Mr. Sutinder Singh |
|
Designation : |
Director |
|
Address : |
5-9-1115/A, Kanchanjunga Complex, |
|
Date of Birth/Age : |
17.09.1959 |
|
Date of Appointment : |
15.11.2004 |
|
|
|
|
Name : |
Ms. Komal Singh |
|
Designation : |
Director |
|
Address : |
5-9-1115/A, Kanchanjunga Complex, |
|
Date of Birth/Age : |
20.10.1967 |
|
Date of Appointment : |
04.01.1991 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Sutinder Singh |
|
276998 |
|
Ms. Komal Singh |
|
1501 |
|
Mr. Huzur Singh |
|
21501 |
|
Total |
|
300000 |
|
|
|
|
AS ON 14.07.2010
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of mobile phones, readymade garments and consumer
electronics. |
|
|
|
GENERAL INFORMATION
|
Bankers : |
|
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|||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gandhi and Gandhi Chartered Accountant |
|
Address : |
1002, |
|
|
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Share |
Rs.100/- Each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4600000 |
Equity Share |
Rs.100/- Each |
Rs.46.000
Millions |
|
|
|
|
|
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.100/- Each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
540000 |
Equity Share |
Rs.100/- Each |
Rs.54.000
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 |
46.000 |
30.000 |
30.000 |
|
|
2] Share Application Money |
0.000 |
20.000 |
0.000 |
|
|
3] Reserves & Surplus |
257.584 |
67.174 |
48.537 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
303.584 |
117.174 |
78.537 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
660.504 |
501.825 |
435.442 |
|
|
2] Unsecured Loans |
2.725 |
4.845 |
37.227 |
|
|
TOTAL BORROWING |
663.229 |
506.670 |
472.669 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
966.813 |
623.844 |
551.206 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.681 |
5.163 |
6.260 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.339 |
0.283 |
0.150 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
751.518
|
650.205
|
294.007 |
|
|
Sundry Debtors |
688.085
|
319.588
|
304.856 |
|
|
Cash & Bank Balances |
5.357
|
9.876
|
8.009 |
|
|
Other Current Assets |
31.024
|
0.663
|
0.246 |
|
|
Loans & Advances |
0.066
|
0.924
|
0.499 |
|
Total
Current Assets |
1476.050
|
981.256
|
607.617 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
499.643
|
353.880
|
60.706 |
|
|
Provisions |
14.614
|
8.978
|
2.115 |
|
Total
Current Liabilities |
514.257
|
362.858
|
62.821 |
|
|
Net Current Assets |
961.793
|
618.398
|
544.796 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
966.813 |
623.844 |
551.206 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
71.822 |
31.811 |
9.335 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.476 |
1.761 |
2.020 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
70.346 |
30.050 |
7.315 |
|
|
|
|
|
|
|
Less |
TAX (I) |
23.993 |
11.413 |
6.257 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
46.353 |
18.637 |
1.058 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
154.51 |
62.12 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.13 |
2.81 |
1.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.26 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.87 |
8.12 |
6.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.87 |
2.93 |
9.67 |
LOCAL AGENCY FURTHER INFORMATION
Operation :
The company had taken
up distribution of Samsung cell phones during last financial and it has
received an excellent response and the company was able to penetrate newer
market. In order to continue the dominance in the market the board of directors
decided to expand the operations in new territories. The board of directors is
of the opinion that the company should become a strong leader in the market.
Form : 8
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U52520AP1988PTC008970 |
|
Name of the
company |
PCH MARKETING
PRIVATE LIMITED. |
|
Address of the
registered office or of the principal place of business in |
5-9-22/53,Adarsh
Nagar, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge Others |
|
Particular of
charge holder |
STATE BANK OF |
|
Nature of
instrument creating charge |
Sanction Letter,
Supplemental Deed of Guarantee for Increase in Overall Limit (Form C.4-A),
Supplemental Agreement of Hypothecation of Goods and Assets for increase in
the overall limit (Form C.2-A), Letter regarding the grant of individual
limits within the overall limit, Supplemental agreement of loan for increase
in the overall limit (Form C.1-A), Memorandum for recording extension of
mortgage by deposit of title deeds (SME - 7) |
|
Date of
instrument Creating the charge |
12/08/2010 |
|
Amount secured by
the charge |
Rs. 1330.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : For cash credit(hyp),
letter of credit and bank guarantee - 4.75% above base rate (present
effective rate 12.25% pa) For Stand Line of
Credit - 1% above applicable rate i.e., 12.25% Terms of repayment : cash credit -
repayable on demand Margin : Finished Goods - 25% Book debts /
receivables (cover 60 days) - 35% Land &
Buildings and Plant & Machinery -
10% Extent and operation of the charge : The charge
operates as a security for the repayment of all the credit facilities availed
by the company together with the payment of interest and any other charges,
costs and expenses payable to or incurred by the bank. Other : Collateral
Security : Equitable
mortgages of seven properties belonging to guarantors. Personal guarantees
of Shri Sutinder Singh, Sri Huzur Singh and Smt Iqbal Kaur |
|
Short particulars
of the property charged (Including location of the property) |
|
|
Particulars of the
present modification |
Enhancement of
working capital, cash credit limits and sanction of SLC limit |
|
Name of the company |
PCH MARKETING PRIVATE LIMITED |
|
Presented By |
Mr. Huzur Singh |
|
1) Date and description of instrument creating the change |
|
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.500 Millions Rs.4.500 Millions
|
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All the tangible movable
assets of the borrower inc. in particulars all stocks such as domestic
appliances, Philips audio/ video, opticals, watches, etc., wheresoever
situate and / or in transit and fixed assets like equipments etc. All the book
debts outstanding, money receivable, claims and bills. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
First charge by
way of hypothecation of all tangible movable assets as in item 3 repayable on
demand together with interest @4% over Bank of India |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of |
|
6) Date and brief description of instrument modifying the charge |
20.09.2004
|
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The original
Limit was raised from Rs.5.500 millions to Rs.10.000 millions on 20.03.1998
(reg. vide D. no. 36) and again increased to Rs.10.500 millions on 12.09.2002
(reg. vide D. no. 50) now the same is increased to Rs.50.000 millions. The
original limit of Rs.4.500 millions
was raised to Rs.5.000 millions
on 20.03.1998 (reg. vide D. no. 36) and then reduced to Rs.4.500
millions on 12.09.2002 (reg. vide D. no. 50) now the same is increased to
Rs.30.000 millions. The total overall limits of Rs.15.000 millions has now
been increased to Rs.65.000 millions. |
Fixed Assets :
- Air Conditioner
- Air Cooler
- Auto Trolley
- Bajaj Chetak
- Computers
- Electrical Equipment
- Generator
- Fax Machine
- Luna
- Office Equipment
- Office Machinery
- Type Writer
- Water Coller
- Refrigerator
- Pager
- Motor Cycle
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. 45.15 |
|
|
1 |
Rs. 72.58 |
|
Euro |
1 |
Rs. 62.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.