MIRA
INFORM REPORT
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Report Date : |
17.03.2011 |
IDENTIFICATION DETAILS
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Name : |
PARK NETWORK PRIVATE LIMITED |
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Registered
Office : |
406/56, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
21.02.1995 |
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Com. Reg. No.: |
55-065645 |
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CIN No.: [Company Identification
No.] |
U74899DL1995PTC065645 |
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TIN No.: |
07380296501 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributor of Computer and Peripherals. |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 55000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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
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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 DECLINED BY
Management non-cooperative
LOCATIONS
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Registered Office : |
406/56, |
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Tel. No.: |
91-11-26293946-26293749 |
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Mobile No.: |
91-9818775500 (Mr. B D Joshi) |
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Fax No.: |
91-11-26293946 |
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E-Mail : |
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Website : |
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Area : |
7000 sq ft |
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Location : |
Owned |
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Branch Office : |
Located at: ·
Noida ·
Dehradun ·
Jaipur ·
Gurgaon ·
Kurukshetra |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Ajaya Kumar |
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Designation : |
Director |
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Address : |
A-344, Sector-31, Noida - 201 301, |
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Date of Birth/Age : |
26.07.1959 |
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Date of Appointment : |
21.02.1995 |
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DIN No.: |
00339887 |
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Name : |
Mrs. Vinita Gupta |
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Designation : |
Director |
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Address : |
A-344, Sector-31, Noida - 201 301, |
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Date of Birth/Age : |
12.09.1963 |
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Date of Appointment : |
21.02.1995 |
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DIN No.: |
00339805 |
KEY EXECUTIVES
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Name : |
Mr. B D Joshi |
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Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Ajaya Kumar |
118600 |
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Vinita Gupta |
75300 |
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Subhash Gupta |
1500 |
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Neeraj Gupta |
5500 |
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Vimla Gupta |
500 |
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Aruna Gupta |
1500 |
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Ankur Gupta |
45300 |
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Abhishek Gupta |
37600 |
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Asha Gupta |
100 |
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Ashish Gupta |
100 |
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Ankit Gupta |
100 |
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Preeti Gupta |
500 |
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Ajaya Kumar HUF |
500 |
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Total
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287100 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor of Computer and Peripherals. |
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Agencies Held : |
Sony Waio, Lenovo, Compaq, HP, AOC, Microsoft |
GENERAL INFORMATION
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Supplier : |
Microsoft, Sony, Nokia, TVS Electronics, Altec Lansing, HP, Ienovo,
NOC, |
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No. of Employees : |
35 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Subhash Gupta and Associates Chartered Accountants |
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Address : |
1111, |
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E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
287100 |
Equity Shares |
Rs.10/- each |
Rs.2.871
millions |
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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 |
2.871 |
2.871 |
1.971 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
10.863 |
10.221 |
1.567 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.734 |
13.092 |
3.538 |
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LOAN FUNDS |
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1] Secured Loans |
3.047 |
11.517 |
10.271 |
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2] Unsecured Loans |
3.899 |
3.876 |
9.456 |
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TOTAL BORROWING |
6.946 |
15.393 |
19.727 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.007 |
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TOTAL |
20.680 |
28.485 |
23.272 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.690 |
1.992 |
0.518 |
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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 |
0.039 |
0.004 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
20.156
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15.264
|
21.788 |
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Sundry Debtors |
24.905
|
19.939
|
26.992 |
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Cash & Bank Balances |
2.859
|
4.913
|
2.613 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
1.319
|
0.785
|
1.051 |
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Total
Current Assets |
49.239
|
40.901
|
52.444 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
29.319 |
13.189
|
28.387 |
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Other Current Liabilities |
0.486
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0.769
|
0.796 |
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Provisions |
0.483
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0.454
|
0.507 |
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Total
Current Liabilities |
30.288
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14.412
|
29.690 |
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Net Current Assets |
18.951
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26.489
|
22.754 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
20.680 |
28.485 |
23.272 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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289.950 |
318.578 |
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Other Income |
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TOTAL |
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289.950 |
318.578 |
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EXPENSES |
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Office Expenses |
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317.463 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
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293.545 |
317.463 |
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PROFIT BEFORE
TAX |
|
0.943 |
0.841 |
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Less |
TAX |
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0.300 |
0.287 |
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PROFIT AFTER TAX
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0.643 |
0.554 |
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Earnings Per
Share (Rs.) |
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3.11 |
1.93 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.22 |
0.17
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.85 |
1.96
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NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.06
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NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.71 |
2.27
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13.97 |
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Current Ratio (Current Asset/Current Liability) |
|
1.63 |
2.84
|
1.76 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
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Sundry Creditors |
29.319 |
13.189
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28.387 |
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FORM 8:
|
Corporate
identity number of the company |
U74899DL1995PTC065645 |
|
Name of the
company |
PARK NETWORK PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
406/56, E-Mail: SUBHASHFCA@HOTMAIL.COM |
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified |
80022042 |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Union Bank of E-Mail: sanjuprofessional@gmail.com |
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Nature of
description of the instrument creating or modifying the charge |
SD-20 (Composite
Hypothecation deed) |
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Date of
instrument Creating the charge |
29/06/2010 |
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Amount secured by
the charge |
Rs.30.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: BPLR+1.00% p.a. on
monthly rest or such other rate (s) specified by the bank from time to time Terms of
Repayment: on demand Margin: C/C -25% BG-15% Extent and
Operation of the charge: 100% first
exclusive charge |
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Short particulars
of the property charged |
First hypothecation
charge on any kind of stocks of computers/accessories/parts/spares/ hardwares
etc. lying /kept/stores at company's stores /godowns/premises or anywhere
else including those in transit both present and future. First charge on
all the present and future book-debts/receivables of the company. First charge on
all the tangible movable properties/machineries and entire current assets of
the company both present and future. |
|
Particulars of
the present modification |
Total credit
facilities now enhanced to Rs.30.000 millions i.e. Cash credit (stocks and
book-debts) Rs.27.500 millions and Bank Guarantee of Rs.2.500 millions. |
NOTE:
The company was started in 1993 as a Proprietory Company but now the company
has been merged in Park Network Private Limited.
Previously the group had three companies:
The
Park Electroniks
Park Networks Private Limited
Now only one company ‘’Park Networks Private Limited” is into existence
and both companies has merged in to it.
However no letter of merger has been found in Registrar of Companies in
CONTINGENT
LIABILITIES: (AS ON 31.03.2010)
·
Contingent Liabilities not provided for in respect of
outstanding Bank Guarantee Rs.2.050 millions given to various department.
FIXED ASSETS:
- Furniture
- Office Equipments
- Computers
- Vehicle
- Cycle
- EAPBX
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.45.18 |
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|
1 |
Rs.75.58 |
|
Euro |
1 |
Rs.63.13 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
32 |
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.