MIRA
INFORM REPORT
|
Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRADEEP STRUCTURAL DEVELOPMENT PRIVATE LIMITED |
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Registered
Office : |
35 Netaji Subhas R Road, 2nd Floor, Kolkata – 700001, West
Bengal |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
30.12.2004 |
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Com. Reg. No.: |
21 - 100932 |
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Capital
Investment / Paid-up Capital : |
Rs.5.839 Millions |
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CIN No.: [Company Identification
No.] |
U74140WB2004PTC100932 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALP06758D |
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PAN No.: [Permanent Account No.] |
AADCP4760C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Stop Lock Gate, Embrad Part, Mould Box. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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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 |
|
Maximum Credit Limit : |
USD 150000 |
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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.
Profitability appears to be low. However, trade relations are reported as fair. Business is active. Payments
are reported to be usually 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Pradip Roy |
|
Designation : |
Director |
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Contact No.: |
91-9830362050 |
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Date : |
25.07.2012 |
LOCATIONS
|
Registered Office : |
35 Netaji Subhas R Road, 2nd Floor, Kolkata – 700001, West
Bengal, India |
|
Tel. No.: |
91-33-26534247 |
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Mobile No.: |
91-9830362050 (Mr. Pradip Roy) |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
AMTA Raod, Salap, Howrah – 711409, West Bengal, India |
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Tel. No.: |
91-33-26534247 |
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Fax No.: |
91-33-25517599 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Pradip Roy |
|
Designation : |
Director |
|
Address : |
10/30 Nagendra Nath Road, Dum-Dum Nagr, Bazar, Kolkata – 700028, West
Bengal, India |
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Date of Birth/Age : |
02.11.1956 |
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Qualification : |
B.Com |
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Date of Appointment : |
30.12.2004 |
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DIN No.: |
00394856 |
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Voter ID No.: |
ADEPR3220J |
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Name : |
Ms. Aparna Roy |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
26.03.1967 |
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Qualification : |
B.A |
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Experience : |
10/30 Nagendra Nath Road, Dum-Dum Nagr, Bazar, Kolkata – 700028, West
Bengal, India |
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Date of Appointment : |
30.12.2004 |
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DIN No.: |
00394918 |
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Voter ID No.: |
ADIPR5664A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Pradip Roy |
|
23400 |
|
Aparna Roy |
|
34990 |
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|
|
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Total |
|
58390 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Stop Lock Gate, Embrad Part, Mould Box. |
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Exports : |
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Products : |
·
Stop Lock Gate ·
Embrad Part ·
Mould Box |
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Countries : |
·
Sudan ·
Nepal ·
Bhutan |
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Terms : |
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Selling : |
L/C |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
State Bank of India, SMECCC, Kolkata, 4th Floor, 1, Strand
Road, Kolkata – 700001, West Bengal, India |
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Facilities : |
CC: Rs.60.000 Millions (From Sate Bank of India) (Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rakesh K Modi and Company Chartered Accountants |
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Address : |
23A N.S Raod, 6th Floor, Room No. 29, Kolkata – 700001,
West Bengal, India |
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Tel. No.: |
91-33-40050012 |
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Mobile No.: |
91-9831263757 |
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E-Mail : |
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PAN.: |
AJVPM6483H |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
60000 |
Equity Shares |
Rs.100/- each |
Rs.6.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
58390 |
Equity Shares |
Rs.100/-
each |
Rs.5.839
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
5.839 |
5.839 |
5.839 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
32.348 |
26.268 |
23.935 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
38.187 |
32.107 |
29.774 |
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LOAN FUNDS |
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|
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|
1] Secured Loans |
29.538 |
23.769 |
17.159 |
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2] Unsecured Loans |
3.589 |
4.838 |
12.088 |
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TOTAL BORROWING |
33.127 |
28.607 |
29.247 |
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DEFERRED TAX LIABILITIES |
0.174 |
0.117 |
0.071 |
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TOTAL |
71.488 |
60.831 |
59.092 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
15.430 |
10.419 |
8.651 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
42.025
|
35.006 |
28.420 |
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Sundry Debtors |
63.945
|
32.647 |
39.062 |
|
|
Cash & Bank Balances |
3.513
|
3.030 |
0.433 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
52.789
|
33.406 |
17.336 |
|
Total
Current Assets |
162.272
|
104.089 |
85.251 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
|
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|
Sundry Creditors |
83.063
|
40.920 |
29.100 |
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Other Current Liabilities |
19.259
|
11.047 |
4.996 |
|
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Provisions |
3.908
|
1.732 |
0.741 |
|
Total
Current Liabilities |
106.230
|
53.699 |
34.837 |
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Net Current Assets |
56.042
|
50.390 |
50.414 |
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MISCELLANEOUS EXPENSES |
0.016 |
0.022 |
0.027 |
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TOTAL |
71.488 |
60.831 |
59.092 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
172.274 |
136.290 |
83.287 |
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|
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|
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Less |
EXPENSES |
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|
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|
Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
132.435 |
82.005 |
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PROFIT BEFORE
TAX |
8.863 |
3.855 |
1.282 |
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Less |
TAX |
2.753 |
1.272 |
0.520 |
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PROFIT AFTER TAX
|
6.110 |
2.583 |
0.762 |
|
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Less |
OTHER ITEMS |
0.000 |
0.250 |
(0.012) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.712 |
1.379 |
0.605 |
|
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|
|
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BALANCE CARRIED
TO THE B/S |
9.822 |
3.712 |
1.379 |
|
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|
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|
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|
Earnings Per
Share (Rs.) |
104.13 |
44.24 |
29.54 |
|
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Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
220.000 |
Expected Sales (2012-2013): Rs.250.000 Millions
The above information has been parted by Mr. Pradip Roy – Director
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.55
|
1.90 |
0.91 |
|
|
|
|
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.46
|
3.70 |
1.50 |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.12 |
0.04 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
3.65
|
2.56 |
2.15 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.94 |
2.45 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74140WB2004PTC100932 |
|
Name of the
company |
PRADEEP
STRUCTURAL DEVELOPMENT PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
35 Netaji Subhas
R Road, 2nd Floor, Kolkata – 700001, West Bengal, India Email: rkmodi_rakesh@yahoo.co.in |
|
This form is for
|
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10122978 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of
India, SMECCC, Kolkata, 4th Floor, 1, Strand Road, Kolkata –
700001, West Bengal, India Email: sbi.5011@sbi.co.in |
|
Nature of
instrument creating charge |
Memorandum for
Recording Extension of Mortgage by Deposit of Title Deeds Covering Enhanced
Limits and /or Creation of Equitable Mortgage on Additional Properties for
Existing Limits and Enhanced Limits
and Additional Facilities. |
|
Date of
instrument Creating the charge |
09.02.2011 |
|
Amount secured
by the charge |
Rs.63.445
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest For Cash Credit @6.75% above the Base Rate. For Term Loan @6.75% above the Base Rate. Terms of Repayment Cash Credit is repayable on demand as per Banking norms. Term Loan-I will be repaid as per existing repayment schedule. Term Loan-II of Rs.2.500 Millions is repayable in 10 quarterly
installments of Rs.0.250 Million each. Margin 25% of Raw Materials (Indigenous) 25% Semi-Finished Goods 25% of Finished Goods 40% of Domestic Receivables (Cover 45 days) 50% of Term Loan (Overall), and 25% of Bank Guarantee (cash margin - excluding collateral security). Extent and Operation of the charge First Charge on the whole of the mortgaged properties as a continuing
security. |
|
Short
particulars of the property or asset(s) charged (including complete address
and location of the property) |
Equitable
Mortgage of land measuring 8K 2Ch 9 Sq. ft. approx with factory building shed
and P and M at RS Dag No.908 and 909 Mouza Salap, Badamtala, Near Gas godwon
on Howrah-Amta Road, JL No.52, P.S. Domjur,
District - Howrah, Deed No.2578 for the year 2008. |
|
Particulars of
the present modification |
By this modification,
the Overall Limit is enhanced to Rs.63.445 Millions. Particulars of Immovable
Properties and all other terms and conditions continue to remain as before in
full force and effect. |
FIXED ASSETS
·
Land
·
Factory Shed and Building
·
Tools, Implements and
Machineries
·
Generator Set
·
Computers
·
Furniture and Office
Equipments
·
Air Conditioner Set
·
Refrigerator
·
Electrical Installation
·
Car
·
Invertor
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.55.77 |
|
|
1 |
Rs.86.74 |
|
Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
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.