MIRA
INFORM REPORT
|
Report Date : |
24.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
PACIFIC SPIRITS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H No. C-144, 3rd Floor, Lajpat Nagar – 1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
04.08.2006 |
|
|
|
|
Com. Reg. No.: |
151628 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15510DL2006PTC151628 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELPI5899C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECP0935C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Aerated / Non-Aerated Soft Drinks, Juices and Energy Drinks. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2877400 |
|
|
|
|
Status : |
Recently Commenced Business |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Thought the company was incorporated in the year 2006, it has started
its business activities recently in the year December, 2010. Business is active.
Payments terns are reported to be slow but correct. The company can be considered 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
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Vice President |
|
Contact No.: |
91-9810098010 |
|
Date : |
21.03.2011 |
LOCATIONS
|
Registered Office : |
H No. C-144, 3rd Floor, Lajpat Nagar – 1, |
|
Fax No.: |
91-9810098010 (Mr. Sanjay Jain) |
|
Website : |
|
|
|
|
|
Factory 1 : |
111 KM Stone, |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2009
|
Name : |
Mr. Mukesh Kumar Jindal |
|
Designation : |
Director |
|
Address : |
N-127, 1st Floor, Greater Kailash – 1, |
|
Date of Appointment : |
04.08.2006 |
|
|
|
|
Name : |
Ms. Preeti Jindal |
|
Designation : |
Director |
|
Address : |
N-127, 1st Floor, Greater Kailash – 1, |
|
Date of Appointment : |
04.08.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Kumar Jindal |
|
5000 |
|
Preeti Jindal |
|
5000 |
|
Indglonal Investment and Finance Limited, |
|
354600 |
|
Total |
|
364600 |
AS ON 30.09.2009
|
Category |
Percentage |
|
Bodies corporate |
99.72 |
|
Directors or relatives of Directors |
0.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aerated / Non-Aerated Soft Drinks, Juices
and Energy Drinks. |
GENERAL INFORMATION
|
Bankers : |
Punjab National
Bank, Branch Navyug Market,
Navyug Market, |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ravi S Srivastava and Company Chartered Accountant |
|
Address : |
7/108, 1st Floor, New moti Nagar, |
|
|
|
|
Holding Company : |
Indglonal Finance and Investment Limited |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3610000 |
Equity Shares |
Rs.10/- each |
Rs.36.100 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3556000 |
Equity Shares |
Rs.10/- each |
Rs.35.560 Millions |
|
|
Share Application Money |
|
Rs.10.050
Millions |
|
|
|
|
|
(Out of above 3546000 shares have been allotted to holding
company M/s Indglonal Finance and Investment Limited)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
45.610 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
673.740 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
719.350 |
0.100 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2.600 |
7.050 |
5.650 |
|
|
TOTAL BORROWING |
2.600 |
7.050 |
5.650 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
721.950 |
7.150 |
5.750 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
712.696 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
2.429
|
0.357 |
0.079 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
6.000
|
6.550 |
5.550 |
|
Total
Current Assets |
8.429
|
6.907 |
5.629 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.011
|
0.050 |
0.002 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
0.011
|
0.050 |
0.002 |
|
|
Net Current Assets |
8.418
|
6.857 |
5.627 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.836 |
0.293 |
0.123 |
|
|
|
|
|
|
|
|
TOTAL |
721.950 |
7.150 |
5.750 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.01
|
71.00 |
56.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
766.27
|
138.14 |
1125.80 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office address of the company has been shifted from
N-127, 1st Floor, Greater Kailash – 1,
FORM 8:
|
Corporate identity
number of the company |
U15531DL2006PTC151628 |
|
Name of the
company |
PACIFIC SPIRITS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
H. NO. C-144, 3rd
Floor, Lajpat Nagar – I, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property Others |
|
Particular of
charge holder |
Punjab National
Bank, Branch Navyug Market,
Navyug Market, |
|
Nature of
instrument creating charge |
-Hypothecation of
Assets to Secure Term Loan Dated 06-05-2010 -Hypothecation of
Movable Assets forming part of fixed/ block assets Dated 06-05-2010 |
|
Date of instrument
Creating the charge |
06/05/2010 |
|
Amount secured by
the charge |
Rs.80.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest The Interest at the
rate 2.50% over prevailing BPLR i.e.13.50% rate (herein after referred to as
the reference Rate) plus applicable intt. tax (if any) p.a. with monthly
rests.(At present BPLR is 11%) Terms of
Repayment The Term Loan is
to be repaid in 20 qtly. of Rs.40.00 Lacs Instalment starting w.e.f. 01-03-2011 Margin 40% Extent and
Operation of the charge 100% Others The Term Loan-1
and 2 Agreegating to Rs.180.000 Millions shall also be Secured by fixed/
block assets of the company |
|
Short particulars
of the property charged |
Hypothecation of
Plant and Machinery purchased or to be purchased out of Bank Finance. |
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Furniture’s and Fixtures
- Office Equipments
- Computers
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.44.96 |
|
|
1 |
Rs.73.56 |
|
Euro |
1 |
Rs.63.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.