MIRA
INFORM REPORT
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Report Date : |
22.09.2011 |
IDENTIFICATION DETAILS
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Name : |
PRAVARSH IMPEX PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
28.02.2005 |
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Com. Reg. No.: |
11-151636 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 million |
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CIN No.: [Company
Identification No.] |
U51909MH2005PTC151636 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP19647F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and Trader of Iron and Steel Electrical Steel items used in
manufacturing, transformers electrical. |
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No. of Employees
: |
10 (Approximately) |
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 40000 |
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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. R.K. Nair |
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Designation : |
Accounts Departments |
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Contact No.: |
91-22-24025191 |
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Date : |
21.09.2011 |
LOCATIONS
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Registered Office : |
Suite 204 A Wing, Godrej
Coliseum Somaiya Hospital Road, Off Eastern Express Highway Sion, Mumbai –
400 022, Maharashtra, India |
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Tel. No.: |
91-22-24025191/ 92 |
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Fax No.: |
91-22-24025188 |
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E-Mail : |
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Area : |
1250 Sq.ft |
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Location : |
Owned |
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Warehouse: |
L-31132, MIDC, Taloja, District – Raigarh |
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Area : |
20000 Sq.ft |
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Location : |
Owned |
DIRECTORS
As on 12.09.2009
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Name : |
Mr. Prakash Kanubhai Shah |
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Designation : |
Director |
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Address : |
51/10 Manorath Nikunj RA Kidwai, 2nd Floor, |
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Date of Birth/Age : |
03.09.1954 |
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Date of Appointment : |
28.02.2005 |
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Din No.: |
00357802 |
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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 |
|
U70100MH1996PTC102746 |
Prablore
Properties And Holdings Private Limited |
Director |
23-09-96 |
23-09-96 |
- |
Active |
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U51909MH2005PTC151636 |
Pravarsh
Impex Private Limited |
Director |
28-02-05 |
28-02-05 |
- |
Active |
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Name : |
Mrs. Varsha Prakash Shah |
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Designation : |
Director |
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Address : |
51/10 Manorath Nikunj RA Kidwai, 2nd Floor, |
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Date of Birth/Age : |
08.11.1957 |
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Date of Appointment : |
02.04.1995 |
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Din No.: |
00357849 |
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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 |
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U70100MH1996PTC102746 |
Prablore
Properties And Holdings Private Limited |
Director |
29-09-96 |
29-09-96 |
- |
Active |
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U51909MH2005PTC151636 |
Pravarsh
Impex Private Limited |
Director |
02-04-05 |
02-04-05 |
- |
Active |
KEY EXECUTIVES
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Name : |
Mr. Prakash |
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Designation : |
Accounts Departments |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.09.2009
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Names of Shareholders |
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No. of Shares |
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Prakash Kanubhai Shah |
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5000 |
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Versha Prakash Shah |
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5000 |
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Total
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10000 |
Equity Shares Breakup (Percentage of Total Equity)
As on 12.09.2009
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer and Trader of Iron and Steel Electrical Steel items used in
manufacturing, transformers electrical.. |
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Products : |
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Imports : |
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Products : |
Steel and Iron Items |
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Products : |
·
USA ·
Switzerland |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
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Customers : |
End users and OEM’s |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
Indian Bank, Wadala Branch, Mumbai |
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Facilities : |
OD- Rs. 30.000 Millions LC- Rs. 70.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S P Nayak and Company Chartered Accountants |
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Address : |
1/B-9 Doodhsagar Co-op Housing Society, |
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Associates/Subsidiaries : |
Name : Dynamo Stamping Industry Address: L-28, MIDC, Taloja, District- Raigarh Activity: Importer of Electrical Steel. Proprietors Capital: Rs. 10.797 Millions Sales: Rs. 33.077 Millions. Name: Nimit Impex Address: L-29, MIDC, Taloja, District- Raigarh Activity: Importer of Electrical Steel Proprietors Capital: Rs. 10.191 Millions Sales: Rs. 29.712 Millions |
CAPITAL STRUCTURE
As on : 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs.0.500 million |
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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
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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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
9.850 |
4.478 |
9.670 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.950 |
4.578 |
9.770 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
224.100 |
197.245 |
84.108 |
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TOTAL BORROWING |
224.100 |
197.245 |
84.108 |
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DEFERRED TAX LIABILITIES |
1.992 |
0.000 |
0.000 |
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TOTAL |
236.042 |
201.823 |
93.878 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
33.309 |
29.965 |
13.356 |
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Capital work-in-progress |
0.000 |
0.000 |
16.633 |
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INVESTMENT |
0.001 |
0.001 |
0.001 |
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DEFERREX TAX ASSETS |
3.613 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
149.651
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97.919
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72.454
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Sundry Debtors |
327.550
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198.686
|
84.557
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Cash & Bank Balances |
11.774
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0.041
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36.616
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Other Current Assets |
0.000
|
0.000
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0.000
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Loans & Advances |
34.585
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22.877
|
30.749
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Total
Current Assets |
523.560
|
319.523
|
224.376 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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Total
Current Liabilities |
324.441
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147.671
|
160.498 |
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Net Current Assets |
119.119
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171.852
|
63.878 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.005 |
0.011 |
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TOTAL |
236.042 |
201.823 |
93.877 |
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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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Sales |
578.641 |
428.558 |
157.112 |
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Other Income |
25.439 |
7.577 |
0.000 |
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TOTAL (A) |
604.080 |
436.135 |
157.112 |
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Less |
EXPENSES |
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Cost of Goods Sold |
551.261 |
305.851 |
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Conveyance Expenses |
0.063 |
0.051 |
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Office and Staff Welfare Expenses |
0.079 |
0.070 |
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Miscellaneous Expenses |
0.078 |
0.058 |
154.333 |
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Auditor Remunerations |
0.100 |
0.060 |
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Commission Expense |
0.124 |
5.599 |
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Other Expense |
27.546 |
110.893 |
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TOTAL (B) |
579.251 |
422.582 |
154.333 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
24.829 |
13.553 |
2.779 |
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Less |
FINANCIAL
EXPENSES (D) |
18.053 |
17.966 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.776 |
(4.413) |
2.779 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.126 |
0.827 |
0.333 |
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PROFIT BEFORE
TAX (E-F) (G) |
5.650 |
(5.240) |
2.446 |
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Less |
TAX (H) |
0.278 |
0.050 |
1.627 |
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PROFIT AFTER TAX
(G-H) (I) |
5.370 |
(5.190) |
0.819 |
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Earnings Per
Share (Rs.) |
537.20 |
-- |
-- |
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Particulars |
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31.03.2011 |
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Sales Turnover (Approximately) |
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350.000 |
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Expected Sales ( 2011-2012 ) : Rs. 500.000 millions
The above information has been parted by Mr. R. K. Nair.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2009 |
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PAT / Total Income |
(%) |
0.80
|
1.18 |
0.52 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.97
|
1.22 |
1.55 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.70
|
2.59 |
3.16 |
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Return on Investment (ROI) (PBT/Networth) |
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0.56
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1.14 |
0.25 |
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Debt Equity Ratio (Total Liability/Networth) |
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55.15
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75.34 |
25.03 |
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Current Ratio (Current Asset/Current Liability) |
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1.61
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2.16 |
1.37 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS ARE NOT AVAILABLE.
Note: The registered
office of the company has been shifted from 204, A Wing Godrej Jcoliseum off
Eastern Express Highway Sion, Mumbai-400 022,
TRADE REFERENCES:
·
Nexus Electro Steel
Limited – Chennai
·
Power Core Industry –
Bangalore
FIXED ASSETS
·
Air conditioner Plant
·
Computer
·
Weighing Scale
·
Furniture and Printer
·
Furniture
·
Godown
·
·
Office Premise
·
Crane
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Check List by Info Agents |
Available in Reports (Yes/No) |
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Year of Establishment |
YES |
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Locality Of The Firm |
YES |
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Constitution of the firm |
YES |
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Premises Details |
YES |
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Type of Business |
YES |
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Line of Business |
YES |
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Promotor’s background |
--- |
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No. of Employees |
YES |
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Name of person contacted |
YES |
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Designed of contact person |
YES |
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Turnover of firm for last three years |
YES |
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Profitability for last three years |
NO |
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Reasons for variation <> 20% |
YES |
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Estimation for coming financial year |
YES |
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Capital of the business |
NO |
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Details of Sister Concern |
-- |
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Major Suppliers |
NO |
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Major Customers |
YES |
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Payments Terms |
YES |
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Export / Import details (if applicable) |
YES |
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Market information |
-- |
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Litigation that the firm / promoter involved
in |
-- |
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Banking details |
YES |
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Banking facility details |
YES |
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Conduct of the banking account |
-- |
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Buyer visit details |
-- |
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Financial, if provided |
NO |
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Incorporation details, if applicable |
-- |
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Last accounts filed at ROC |
-- |
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Major Shareholders, if available |
-- |
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.48.82 |
|
|
1 |
Rs.75.48 |
|
Euro |
1 |
Rs.66.10 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
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|
--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 |
|
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--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 |
YES |
|
--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.