MIRA
INFORM REPORT
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Report Date : |
07.10.2011 |
IDENTIFICATION DETAILS
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Name : |
PARTH CHEM IMPEX PRIVATE LIMITED |
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Registered Office : |
B/1602, Kailash Tower, Near Kamla Nagar, M G Road, Kandivali (West),
Mumbai – 400067, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
22.02.2005 |
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Com. Reg. No.: |
11-151492 |
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Capital Investment / Paid-up Capital : |
Rs.7.128 Millions |
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CIN No.: [Company
Identification No.] |
U51496MH2005PTC151492 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP19601B |
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PAN No.: [Permanent
Account No.] |
AADCP4839L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer and Importer of Chemical solvent used for Industries |
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No. of Employees: |
09 (In office) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 203216 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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.
INFORMATION PARTED BY
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Name : |
Mr. Ambrish Doshi |
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Designation : |
Director |
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Contact No.: |
91-22-28686924 |
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Date : |
05.10.2011 |
LOCATIONS
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Registered Office : |
B/1602, Kailash Tower, Near Kamla Nagar, M G Road, Kandivali (West),
Mumbai – 400067, Maharashtra, India |
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Tel. No.: |
91-22-40235050/28686924 |
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Fax No.: |
91-22-23432917 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Head Office: |
16, Rawal Chambers339/341, |
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Tel. No.: |
91-22-66312617 / 2266312614 |
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Fax No.: |
91-22-23432917 |
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Branch Office : |
3/10, S.P Timber Market, Behind Gita Mandir, |
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Tel. No.: |
91-22-66312614 |
DIRECTORS
AS ON 24.08.2010
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Name : |
Mrs. |
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Designation : |
Director |
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Address : |
A/41, Sahil, 4th Floor, Behind Dev Nagar, Saibaba Nagar,
Extension Road, Kandivali (West), Mumbai-400067, Maharashtra, India |
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Date of Birth/Age : |
23.01.1952 |
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Date of Appointment : |
22.02.2005 |
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Date of Cessation: |
07.02.2009 |
Other Directorship:
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S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U51225MH2000PTC128545 |
PARTH TRADELINKS PRIVATE
LIMITED |
Managing director |
06/09/2000 |
06/09/2000 |
- |
Active |
NO |
|
2 |
U51496MH2005PTC151492 |
PARTH CHEM IMPEX PRIVATE
LIMITED |
Director |
16/01/2009 |
16/01/2009 |
- |
Active |
NO |
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Name : |
Mr. Mehul Chandrakant Bhutta |
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Designation : |
Director |
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Address : |
A/41, Sahil, 4th Floor, Behind Dev Nagar, Saibaba Nagar,
Extension Road, Kandivali (West), Mumbai-400067, Maharashtra, India |
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Date of Birth/Age : |
26.08.1976 |
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Qualification : |
B Com |
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Date of Appointment : |
22.02.2005 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date
of appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U51496MH2005PTC151492 |
PARTH CHEM IMPEX PRIVATE
LIMITED |
Director |
22/02/2005 |
22/02/2005 |
- |
Active |
NO |
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Name : |
Mr. Ambrish B Doshi |
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Designation : |
Director |
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Address: |
16, Rawal Chambers339/341, |
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Date of Birth/Age : |
31.07.1964 |
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Date of Appointment : |
18.01.2009 |
KEY EXECUTIVES
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Name : |
Mr. Nilesh Gandhi |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.08.2010
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Names of Shareholders |
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No. of Shares |
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Mehul Chandrakant Bhuta |
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414500 |
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62500 |
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Atul Prataprai Rawal |
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6430 |
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Ambrish Bhikhalal Doshi |
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66570 |
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Aakar Engineering and Manufacturing Company Limited, Mumbai |
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102500 |
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Fintech Communication Limited, Mumbai |
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60300 |
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Total |
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712800 |
AS ON 24.08.2010
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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22.84 |
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Directors or relatives of Directors |
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77.16 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Importer of Chemical solvent used for Industries |
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Agencies Held : |
Blue Sword, China |
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Products : |
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Imports : |
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Products: |
Chemical Solvents |
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Countries : |
China, Thailand, Mexico |
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Terms : |
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Selling : |
Cash, Credit (30-60-90 Days) |
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Purchasing : |
L/C, Cash, Credit (30-60-90 Days) |
GENERAL INFORMATION
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Suppliers : |
Blue Sword, China |
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Customers : |
·
End Users ·
Manufacturer ·
Asian Granted Limited |
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No. of Employees : |
09 (In office) |
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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 : |
Harshad H Parekh and Company Chartered Accuntant |
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Address : |
1st Floor, Casinath Building, A K Nayak, Fort, Mumbai –
400001, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 29.08.2010
Authorised Capital :
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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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712800 |
Equity Shares |
Rs. 10/-
each |
Rs. 7.128
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2011 |
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Sales Turnover (Approximately) |
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900.000 |
Expected Sales (2011-2012) : Rs.1050.000 Millions
The above information has been parted by Mr. Ambrish Doshi (Director)
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 |
7.128 |
5.500 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
43.676 |
15.195 |
6.198 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
50.804 |
20.695 |
11.198 |
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LOAN FUNDS |
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1] Secured Loans |
73.954 |
26.566 |
6.007 |
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2] Unsecured Loans |
8.230 |
32.760 |
18.956 |
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TOTAL BORROWING |
82.184 |
59.326 |
24.963 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.012 |
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TOTAL |
132.988 |
80.021 |
36.173 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.964 |
1.291 |
1.769 |
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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 |
0.077 |
0.044 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
45.617 |
48.763 |
7.595 |
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Sundry Debtors |
210.551 |
99.974 |
81.458 |
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Cash & Bank Balances |
16.188 |
15.196 |
5.079 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
27.560 |
8.839 |
1.634 |
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Total
Current Assets |
299.916 |
172.772 |
95.766 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
163.792 |
87.456 |
54.931 |
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Other Current Liabilities |
1.549 |
4.929 |
5.574 |
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Provisions |
2.628 |
1.756 |
0.968 |
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Total
Current Liabilities |
167.969 |
94.141 |
61.473 |
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Net Current Assets |
131.947 |
78.631 |
34.293 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.055 |
0.111 |
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TOTAL |
132.988 |
80.021 |
36.173 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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603.838 |
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Other Income |
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|
0.000 |
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TOTAL |
895.523 |
683.057 |
603.838 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
NA |
NA |
599.520 |
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Advertising Expenses |
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TOTAL |
NA |
NA |
599.520 |
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PROFIT BEFORE
TAX |
8.392 |
6.816 |
4.318 |
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Less |
TAX |
2.704 |
2.319 |
1.320 |
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PROFIT AFTER TAX
|
5.688 |
4.497 |
2.998 |
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EARNINGS
IN FOREIGN CURRENCY |
7.084 |
NA |
NA |
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IMPORTS |
189.758 |
NA |
NA |
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Earnings Per
Share (Rs.) |
7.98 |
8.99 |
6.00 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.64
|
0.66
|
0.50 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
0.72 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.79
|
3.91
|
4.42 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.33
|
0.39 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.92
|
7.42
|
7.72 |
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Current Ratio (Current Asset/Current Liability) |
|
1.79
|
1.83
|
1.55 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs. In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors for Goods |
154.080 |
76.009 |
42.441 |
|
Sundry Creditors for Expenses |
9.712 |
11.522 |
12.490 |
NOTE:
The registered of the company has been shifted from 16, Rawal
Chambers339/341, Samuel Street, Masjid Buder, Mumbai-400003, Maharashtra, India
to present address w.e.f. 02.09.2011
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Check List by
Info Agents |
Available in
Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter's background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
No |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
No |
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16) Details of sister concerns |
No |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
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20) Export / Import details (if
applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
-- |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U51496MH2005PTC151492 |
|
Name of the
company |
PARTH CHEM IMPEX PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
16, Rawal Chambers339/341, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Tamilnad Mercantile Bank Limited, Garodia House, First Floor, 101-104,
Kazi Sayed Street, Masjid, Mumbai-400003, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Letter of
Hypothecation of Book Debts – Loans Letter of
Hypothecation Agreements for
Demand Cash Credit on the Hypothecation of Movable Properties. |
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Date of
instrument Creating the charge |
13.11.2006 |
|
Amount secured by
the charge |
Rs. 25.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 11.00% p.a. (as
per Rating) Terms of
Repayment One Year Margin CC – 30% FLC- 25% Extent and
Operation of the charge As per the
Agreement Enclosed Others The Borrower
Agrees and Declares that all the clauses, covenants, conditions and
stipulations contained in the said Agreement shall in all other respect
remain in full force and binding on the borrower in respect of the aforesaid
credit facilities Agreed to be granted. |
|
Short particulars
of the property charged |
|
|
Corporate
identity number of the company |
U51496MH2005PTC151492 |
|
Name of the
company |
PARTH CHEM IMPEX PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
16, Rawal Chambers 339/341, |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
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Particular of
charge holder |
State Bank of Address: Email: sbi.60138@sbi.co.in
|
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Nature of instrument
creating charge |
Agreement of Loan
cum Hypothecation dated 23rd march 2010 |
|
Date of
instrument Creating the charge |
23.03.2010 |
|
Amount secured by
the charge |
Rs. 150.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 1.75% above SBAR
,effective rate 13.50% for working capital Terms of repayment Repayment on
demand Margin Raw material 25% Finished
Goods 25% Book debts 40% Letter of credit
cash margin 20% Extent and operation of the charge Hypothecation of
all present and future stocks of raw material goods book debts and vehicles
and all other movable assets of the company. as security. |
|
Corporate identity number of the company |
U51496MH2005PTC151492 |
|
Name of the company |
PARTH CHEM IMPEX PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
16, Rawal
Chambers 339/341, |
|
This form is for |
Modification of charge |
|
Type of charge |
Book Debts |
|
Particular of charge holder |
State Bank of India |
|
Nature of instrument creating charge |
Supplemental Agreement of Loan Cum
Hypothecation. |
|
Date of instrument Creating the charge |
24/02/2011 |
|
Amount secured by the charge |
Rs.225.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Interest @ 5.75% above base rate at
present SBI base rate is 8.25% Present effective rate 14.00%. Terms of Repayment Repayment on demand Margin Raw material 25% Finished Goods 25% Book debts 40% Letter of credit cash margin 20% Extent and Operation of the charge Hypothecation of all present and future
stocks of raw material goods book debts and vehicles and all other movable
assets of the company already charge would continue as security for enhance
limit. |
|
Particulars of the present modification |
The existing limit of Rs.150,000,000
increased to Rs.225.000 millions. All other terms and conditions and security
remain unchanged. |
Fixed Assets:
- Office
Equipment
- Computer
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.49.19 |
|
|
1 |
Rs.75.91 |
|
Euro |
1 |
Rs.65.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
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.