MIRA
INFORM REPORT
|
Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
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Name : |
PERFECT VITAMINS PRIVATE LIMITED |
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Registered
Office : |
No.1, B/4, Jaldarshan, Ground Floor, Flat NO.1, Narayan Pujari Nagar, Khan
A. G. Road, Worli, Mumbai-400018, Maharashtra. |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.07.2009 |
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Com. Reg. No.: |
11-194401 |
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CIN No.: [Company Identification No.] |
U15400MH2009PTC194401 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NGPP03458A |
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PAN No.: [Permanent Account No.] |
AAFCP1189B |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of Liquid Lecithin and Vitamin E- Tocopherol. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (14) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 : |
Yet to Commence Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
As per last available financials, the company has yet to start it’s
commercial activities. Payment terms are not known. Initially, 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 – April 1, 2010
|
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 |
LOCATIONS
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Registered Office : |
No.1, B/4, Jaldarshan, Ground Floor, Flat NO.1, Narayan Pujari Nagar,
Khan A. G. Road, Worli, Mumbai-400018, Maharashtra, India |
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Tel. No.: |
91-22-22656133 |
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E-Mail : |
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Website : |
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Factory : |
K-34/1, Five Star Industrial Area, Behind Johnson Lifts, Butiori,
Nagpur-441108, Maharashtra, India |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mr. Rajkishore Maniyar |
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Designation : |
Director |
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Address : |
801/802, Shiv Tapi Apartment, H. G. Road, Gamdevi, Mumbai-400007,
Maharashtra, India |
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Date of Birth/Age : |
15.05.1968 |
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Date of Appointment : |
28.07.2009 |
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DIN No : |
01687800 |
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Name : |
Mr. Brijkishore Maniyar |
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Designation : |
Director |
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Address : |
119, Vardhaman Nagar, Nagpur-440008, Maharashtra, India |
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Date of Birth/Age : |
19.05.1966 |
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Date of Appointment : |
28.07.2009 |
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Name : |
Mr. Snil Mudada |
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Designation : |
Director |
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Address : |
Saket, Dudhasagar Marg, Chalisgaon-424101, India |
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Date of Birth/Age : |
15.08.1962 |
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Date of Appointment : |
27.11.2009 |
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DIN No : |
01049952 |
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Name : |
Mr. Omprakash Daga |
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Designation : |
Director |
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Address : |
19, Neet Tarang, 208, V. S. Marg, Mahim, Mumbai-400016, Maharashtra,
India |
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Date of Birth/Age : |
24.02.1944 |
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Date of Appointment : |
23.02.2010 |
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DIN No : |
02909937 |
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Name : |
Mr. Rajkishore Maniyar |
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Designation : |
Director |
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Address : |
801/802, Shiv Tapi Apartment, H. G. Road, Gamdevi, Mumbai-400007,
Maharashtra, India |
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Date of Birth/Age : |
15.05.1968 |
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Date of Appointment : |
26.02.2010 |
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DIN No : |
01687800 |
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Name : |
Mr. Dilip Murarka |
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Designation : |
Director |
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Address : |
30-A, Pratik Corporation Colony, H. No.341-D, Mouza Ambazari,
Nagpur-440010, Maharashtra, India |
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Date of Birth/Age : |
06.01.1962 |
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Date of Appointment : |
06.04.2010 |
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DIN No : |
02016085 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Mr. Brijkishore Maniyar |
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5000 |
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Mr. Rajkishore Maniyar |
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5000 |
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Total |
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10000 |
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 |
|
100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Liquid Lecithin and Vitamin E- Tocopherol. |
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Products : |
·
Liquid Lecithin ·
Vitamin E- Tocopherol |
GENERAL INFORMATION
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Bankers : |
·
State Bank of India ·
State Bank of Indore, 46, Amina Manjil, 1st Floor, C.
A. Road, Timki Bazar, Nagpur-440018, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P. M. Mittal and Company Chartered Accountant |
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Address : |
36, Karim Layout, Gopal Nagar. Nagapur-440022, Maharashtra, India |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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|
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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178.173 |
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2] Unsecured Loans |
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103.205 |
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TOTAL BORROWING |
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281.378 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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281.478 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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86.571 |
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INVESTMENT |
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6.035 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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7.352 |
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Sundry Debtors |
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0.497 |
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Cash & Bank Balances |
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|
0.854 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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190.616 |
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Total
Current Assets |
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199.319 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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17.935 |
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Other Current Liabilities |
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0.391 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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18.326 |
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Net Current Assets |
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180.993 |
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MISCELLANEOUS EXPENSES |
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0.456 |
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PRE-OPERATIVE EXPENSES |
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7.423 |
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TOTAL |
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281.478 |
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KEY RATIOS
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PARTICULARS |
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|
31.03.2010 |
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Debt Equity Ratio (Total Liability/Networth) |
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2997.04 |
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Current Ratio (Current Asset/Current Liability) |
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10.88 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
of the company has been shifted from 6, Jain House, 41/43, Police Court Lane, D. N. Road, Fort,
Mumbai-400001, Maharashtra, India to the present address w.e.f. 30.03.2010
FINANCIAL RESULTS
The Company is yet to start the production activity, therefore the day
to day expenses has been debited to Pre-operative Expenses Account.
FORM 8
|
Corporate
identity number of the company |
U15400MH2009PTC194401 |
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Name of the
company |
PERFECT
VITAMINS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
6, Jain House, 41/43, Police Court Lane, D. N. Road, Fort,
Mumbai-400001, Maharashtra, India |
|
This form is for |
Creation of charge |
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Type of charge |
Book debts Movable property (not being pledge) Floating charge |
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Particular of
charge holder |
State Bank of Indore, 46, Amina Manjil, 1st Floor, C. A.
Road, Timki Bazar, Nagpur-440018, Maharashtra, India |
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Nature of
instrument creating charge |
Agreement of hypothecation of goods and assets. |
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Date of
instrument Creating the charge |
29.12.2009 |
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Amount secured by
the charge |
Rs. 280.000 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 1)
Term loan: 0.50% above BPLR i.e. 13.25% p.a. With reset option after every 2
years. 2)
Working capital FBWC limit (EPC/PSC) : at par with BPLR i.e. @ 12.75% p.a. On
cash credit Account. Terms of
repayment 1) term
loan for rupees twenty millions : the term loan would be repayable in 65
monthly installments of Rs.3.056 millions and last installment of Rs. 1.360
millions commencing from September 2010. the last monthly installment would
be due in January, 2016. 2)
FBWC limit include cash credit (sub limit) for rupees eight millions: a)
EPC: Maximum 180 days b)
PSC: Maximum 180 days Margin 1)
Term loan : 39.60% ( 50% of the proposed margin i.e. Rs. 65.600 millions to
be brought in up Front. 2)
FBWC limit ( EPC/PSC) : cash credit
: 25% ( on all stocks) Receivables ( for cash
credit) : 40% ( tenor upto 90
days) EPC/PSC : 10%
of fob value Extent and
operation of the charge For
term loan and FBWC limit including cash credit sub limit: hypothecation of
company's Current assets i.e. Stocks of raw materials, finished goods,
stock-in process at the Company's factory premises/ godowns or such other
places as may be approved by the Bank from time to time including goods in
transit and shipment, outstanding monies, Book-debts, receivable and book
debts, other current assets etc. Or to be brought in Future and hypothecation
of plant and machineries and all other moveable assets. |
|
Short particulars
of the property charged (Including location of the property) |
Plants
and machineries and all other moveable assets stored and installed at factory
Premises at plot no.k-34, five star, MIDC Butibori, Tehsil and district
Nagpur Stocks of raw materials, finished goods, stock process, goods in
transit, shipment, outstanding monies, book-debts Receivables
and other current assets present and future-situated at factory premises. All
assets store and installed at Plot No. K-34, five star, MIDC Butibori, Tehsil
and district Nagpur |
FIXED ASSETS
ü
Land at MIDC
ü
Factory Building
ü
Plant and Machinery
ü
Electrical Installation
WEB SIDE DETAILS
PROFILE
Subject is specialized in
manufacturing of Non GMO Soy Liquid Lecithin ”Perfectleci”, Natural Vitamin E
Tocopherols “Perfectpherole”, and Natural Concentrated Sterol ”Perfectsterol”
with the state of art technology and plant at Nagpur, India. Their products
meet all the pertinent quality criterias required to ensure the highest quality
and standard.
Soy Lecithin “PerfectLeci”
is used as Emulsifier, stabilizer and Viscosity modifiers in food and feed
Industry. PerfectLeci is a popular supplement taken for the purpose of lowering
cholesterol, to reduce weight, improves liver health, helps prevent coronary
heart disease and atherosclerosis. Soy Lecithin in biochemistry is often used
as a synonym for phosphatidyl Choline (PC), which is itself a mixture of
differently substituted sn-glycerol-3-phosphatidylcholine backbones.
“Perfectpherol”
is a natural source vitamin E which helps to prevent ailments related to
cellular ageing process that can degenerate into disorders such as breast
cancer, skin cancer, coronary illness, etc. Their natural mixed tocopherols use
for its antioxidant activity which preserve organoleptic features, and extend
shelf life.
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.45.15 |
|
|
1 |
Rs.72.58 |
|
Euro |
1 |
Rs.62.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
14 |
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.