|
Report Date : |
06.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
PARAS CADD PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
404-404, Kushal Point, Plot No.22, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.09.2003 |
|
|
|
|
Com. Reg. No.: |
11-142123 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2003PTC142123 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15224G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP1520C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Design and Supply a range of Civil Engineering and Plant
Design Software. |
|
|
|
|
No. of Employees
: |
Not divulged by the
management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 36000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The latest
financials of the company are not available. As per previous year, there appears huge external borrowing recorded
by the company. The profitability also appears to be low. However, trade relations are reported as fair. Business is active.
Payment terms are unknown in absence of latest financials. The company can be considered for business dealings with some
cautions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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 DECLINED
MANAGEMENT NON-COOPERATIVE
Tel No.: 91-22-25111111
LOCATIONS
|
Registered Office : |
404-404, Kushal Point, Plot No.22, Fourth Road, Ghatkopar (West),
Mumbai – 400086, Maharashtra, India |
|
Tel. No.: |
91-22-25111111/222/102 |
|
Fax No.: |
91-22-25111106 |
|
E-Mail : |
info@parascadd.com
|
|
Website : |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Amit Nathuram Borele |
|
Designation : |
Managing Director |
|
Address : |
314 Doshi Wadi, LBS Marg, Ghatkopar (West), Mumbai – 400086,
Maharashtra, India |
|
Date of Birth/Age : |
15.08.1974 |
|
Date of Appointment : |
10.09.2003 |
|
Voter Id No.: |
MT020117198705 |
|
DIN No.: |
00174809 |
|
|
|
|
Name : |
Mrs. Deepa Amit Borele |
|
Designation : |
Director |
|
Address : |
314 Doshi Wadi, LBS Marg, Ghatkopar (West), Mumbai – 400086,
Maharashtra, India |
|
Date of Birth/Age : |
03.11.1978 |
|
Date of Appointment : |
10.09.2003 |
|
DIN No.: |
00175539 |
|
|
|
|
Name : |
Mr. Meera S. Chouksey |
|
Designation : |
Director |
|
Address : |
314 Doshi Wadi, LBS Marg, Ghatkopar (West), Mumbai – 400086,
Maharashtra, India |
|
Date of Birth/Age : |
18.09.1960 |
|
Date of Appointment : |
01.08.2006 |
|
|
|
|
Name : |
Mr. Gopibai Nathuram Borele |
|
Designation : |
Director |
|
Address : |
314 Doshi Wadi, LBS Marg, Ghatkopar (West), Mumbai – 400086,
Maharashtra, India |
|
Date of Birth/Age : |
11.03.1939 |
|
Date of Appointment : |
01.08.2007 |
|
DIN No.: |
01575520 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Amit Nathuram Borele |
|
9050 |
|
Deepa Amit Borele |
|
950 |
|
|
|
|
|
Total |
|
10000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors/ Relatives of Directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Design and Supply a range of Civil Engineering and Plant
Design Software. |
GENERAL INFORMATION
|
No. of Employees : |
Not divulged by the management |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India Small and Medium
Enterprises City Credit Center, Synergy, Bandra Kurla Complex, Bandra (East),
Mumbai - 400051, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kirtikumar Fulchand Doshi Chartered Accountant |
|
Address : |
504 Dalamal Chambers, 29 New Marine Lines, Mumbai – 400020,
Maharashtra, India |
|
PAN No.: |
AAAPD4410F |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.781 |
8.338 |
5.055 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.881 |
8.438 |
5.155 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
18.464 |
3.892 |
3.126 |
|
|
2] Unsecured Loans |
1.354 |
1.200 |
0.787 |
|
|
TOTAL BORROWING |
19.818 |
5.092 |
3.913 |
|
|
DEFERRED TAX LIABILITIES |
0.091 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28.790 |
13.530 |
9.068 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.096 |
3.756 |
3.730 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.834 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.058 |
0.044 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.872
|
0.131 |
0.000 |
|
|
Sundry Debtors |
13.069
|
13.093 |
5.723 |
|
|
Cash & Bank Balances |
0.737
|
0.322 |
0.760 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
19.129
|
10.675 |
6.908 |
|
Total
Current Assets |
34.807
|
24.221 |
13.391 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
12.967 |
6.150 |
2.549 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
5.986
|
8.364 |
5.559 |
|
Total
Current Liabilities |
18.953
|
14.514 |
8.108 |
|
|
Net Current Assets |
15.854
|
9.707 |
5.283 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.006 |
0.009 |
0.011 |
|
|
|
|
|
|
|
|
TOTAL |
28.790 |
13.530 |
9.068 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
76.400 |
67.900 |
57.100 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.856 |
4.700 |
3.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.414 |
1.418 |
1.289 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.442 |
3.282 |
2.511 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.317 |
5.035 |
2.524 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8.759 |
8.317 |
5.035 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
44.20 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.20
|
16.80 |
22.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.56 |
0.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.37
|
2.32 |
2.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
1.67 |
1.65 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
12.967 |
6.150 |
2.549 |
|
|
|
|
|
|
Total |
12.967 |
6.150 |
2.549 |
|
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 |
No |
|
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 |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
WORKING RESULTS:
The company has achieved a
turnover of Rs.76.400 Millions as against Rs.67.900 Millions of
last year, after providing far depreciation, net profit before lax works out to
Rs.0.856 Million as against Rs.4.700 Millions of the last year after tax the
company has earned Rs.0.442 Million as against Rs.3.282 Millions of the last
year. This amount together with last year's surplus of Rs.8.317 Millions
totaling to Rs.8.760 Millions is carried to Balance Sheet
Last year they worked hard
to establish In GCC counties having base lit UAE. The focus is to increase
marketing, efforts in GCC countries in Gulf and also in Asia having base in
Singapore. With the innovative solution and wide acceptance by Indian companies
the software is proven for saving in time, man-hours, excellent quality and
results in saving huge man-hours required for construction. This was
preparation for International market. In the current year they will be having
focus In Gulf countries, they have already good customer base and will expand
the same. They will also focus In Asia from Singapore.
In order to conserve
resources for working capital the directors do not recommend any dividend.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10127584 |
|
Corporate
identity number of the company |
U72900MH2003PTC142123 |
|
Name of the
company |
PARAS CADD
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
317/318,
Doshiwadi, L.B.S. Marg, Ghatkopar (West) Mumbai – 400086, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property Others:
Receivable etc |
|
Particular of
charge holder |
· State Bank of India Small and Medium Enterprises City Credit Center, Synergy, Bandra Kurla
Complex, Bandra (East), Mumbai - 400051, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of Loan-Cum-Hypothecation (SME-4) |
|
Date of
instrument Creating the charge |
25.05.2010 |
|
Amount secured by
the charge |
Rs.6.000 Millions
|
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest @1.50% above SBAR
(SBAR = 11.75%) i.e. @13.25% p.a. on monthly rests or at such other rates or
rests as may be fixed by the bank from time to time. Terms of
Repayment On Demand Margin Margin to be
maintained for cash credit limit at 33.33% on Semi-Finished Goods, 40% on
Domestic Receivables. Extent and
Operation of the charge Security created
by way of first charge and to cover principal, interest, costs, charges and
expenses etc. Others Security created
in respect of cash credit limit. |
|
Short particulars
of the property charged |
All present and
future stocks, book-debts and receivable, Non Current Assets (NCA) of the
unit. |
|
Particulars of
the present modification |
The total amount
secured stands enhanced from Rs.2.400 Millions to Rs.6.000 Millions. |
FIXED ASSETS:
· Computers and Peripherals
· Machineries and Equipments
· Furniture and Fixture
· Vehicles
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.54.56 |
|
|
1 |
Rs.87.90 |
|
Euro |
1 |
Rs.71.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.