|
Report Date : |
10.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRESTO STANTEST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C – 117, F F Complex, Okhla Industrial Area, Phase III, New Delhi
110020 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.06.1997 |
|
|
|
|
Com. Reg. No.: |
087892 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 7.485 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33125DL1997PTC087892 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer of Quality Testing Equipments and Material Testing
Equipments |
|
|
|
|
No. of Employees
: |
50 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 69948 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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 (General Details)
|
Name : |
Mr. Hemant |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9899410810 |
|
Date : |
21.03.2012 |
LOCATIONS
|
Registered Office : |
C – 117, F F Complex, Okhla Industrial Area, Phase III, New Delhi
110020, India |
|
Tel. No.: |
91-129-4085000 |
|
Mobile No.: |
91-9899410810 (Mr. Hemant) |
|
Fax No.: |
91-129-4083111 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
II / 10A DLF Industrial Area, Phase-I, |
|
Area : |
Owned |
|
|
|
|
Factory : |
I-42, DLF Industrial Area, Phase-1, Delhi Mathura Road, Faridabad
121003, Haryana, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Vishal Malhotra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Gaurav Malhotra |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Hemant |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Quality Testing Equipments and Material Testing
Equipments |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
50 Approximately |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Central Bank of India, NIT, Faridabad 121001,
Haryana, India ·
ICICI Bank ·
Kotak Mahindra Bank Limited ·
Punjab National Bank |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Satish Singla and Company Chartered Accountant |
|
Address : |
1st Floor, SCO 107, Sector 16, Faridabad 121002, Haryana,
India |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
850000 |
Equity Shares |
Rs. 10 each |
Rs.8.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
482500 |
Equity Shares |
Rs. 10 each |
Rs.4.825 millions |
|
|
Share Application Money |
|
Rs. 2.660 millions |
|
|
|
|
Rs. 7.485
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.825 |
4.694 |
4.704 |
|
|
2] Share Application Money |
2.660 |
1.110 |
0.000 |
|
|
3] Reserves & Surplus |
10.002 |
7.327 |
5.050 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
17.487 |
13.131 |
9.754 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11.984 |
21.430 |
20.183 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
7.101 |
|
|
TOTAL BORROWING |
11.984 |
21.430 |
27.284 |
|
|
DEFERRED TAX LIABILITIES |
0.332 |
0.395 |
0.115 |
|
|
|
|
|
|
|
|
TOTAL |
29.803 |
34.956 |
37.153 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
26.935 |
28.110 |
13.247 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
11.871 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.208
|
9.599 |
14.583 |
|
|
Sundry Debtors |
0.918
|
1.114 |
0.879 |
|
|
Cash & Bank Balances |
0.356
|
1.377 |
1.966 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
0.998
|
0.725 |
1.230 |
|
Total
Current Assets |
9.480
|
12.815 |
18.658 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.838
|
2.362 |
1.801 |
|
|
Other Current Liabilities |
4.809
|
3.651 |
4.872 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
6.647
|
6.013 |
6.673 |
|
|
Net Current Assets |
2.833
|
6.802 |
11.985 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.035 |
0.044 |
0.050 |
|
|
|
|
|
|
|
|
TOTAL |
29.803 |
34.956 |
37.153 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
70.660 |
59.105 |
36.034 |
|
|
|
Other Income |
2.011 |
1.414 |
0.912 |
|
|
|
TOTAL (A) |
72.671 |
60.519 |
36.946 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
53.026 |
42.643 |
20.880 |
|
|
|
Office Expenses |
0.006 |
0.006 |
0.006 |
|
|
|
Administrative Expenses |
12.102 |
10.017 |
10.101 |
|
|
|
TOTAL (B) |
65.134 |
52.666 |
30.987 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.537 |
7.853 |
5.959 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.778 |
3.322 |
3.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.759 |
4.531 |
2.077 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.592 |
1.164 |
0.971 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.167 |
3.367 |
1.106 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.976 |
1.090 |
0.419 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.191 |
2.277 |
0.687 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.427 |
0.650 |
0.463 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.500 |
0.500 |
0.500 |
|
|
BALANCE CARRIED
TO THE B/S |
4.118 |
2.427 |
0.650 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
9.919 |
6.667 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
5.207 |
2.451 |
0.838 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.54 |
4.84 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.01
|
3.76 |
1.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.48
|
5.69 |
3.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.69
|
8.22 |
3.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.25 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.08
|
2.12 |
3.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
2.13 |
2.79 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
·
Land
·
Factory
·
Office building
·
Furniture and Fixture
·
Computer
·
Vehicles
·
Plant and Machinery
FORM 8
|
Corporate
identity number of the company |
U33125DL1997PTC087892 |
|
Name of the
company |
PRESTO STANTEST PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C – 117, F F Complex, Okhla Industrial Area, Phase III, New Delhi
110020, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Central Bank of India, NIT, Faridabad 121001, Haryana, India Email: bmroht0402@centralbank.co.in
|
|
Nature of
instrument creating charge |
Agreement of
Hypothecation to Secure Demand Cash Credit Against Goods Sanction Letter
of Bank General Counter Guarantee
and Indemnity Covering Several Guarantees within the sanctioned Guarantee
Limit |
|
Date of
instrument Creating the charge |
20.01.2010 |
|
Amount secured by
the charge |
Rs. 9.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per Agreement
dt. 20/01/2010 Terms of repayment As per Agreement
dt. 20/01/2010 Margin As per Agreement
dt. 20/01/2010 Extent and operation of the charge To the extent of Rs.
9.000 millions together with interest in terms of loan agreement and bank
norms from time to time. Other First charge on
Current assets including Stocks, Book Debts and other Current assets to
secure credit limit of Rs. 9.000 millions sanctioned to the company. |
|
Short particulars
of the property charged (Including location of the property) |
Collateral
Security of Land and Building situated at 18-A/4 and 18-A/5, DLF Industrial
Area, Phase I, Faridabad, owned by the company. |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) 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.51.27 |
|
|
1 |
Rs.81.38 |
|
Euro |
1 |
Rs.67.01 |
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 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.