MIRA
INFORM REPORT
|
Report Date : |
05.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRITHVI IT PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Belvedere, Flat No.303/204, Building No H-3, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
19.06.2007 |
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Com. Reg. No.: |
11-130344 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.900 Million |
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CIN No.: [Company Identification
No.] |
U30007PN2007PTC130344 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP12369A |
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PAN No.: [Permanent Account No.] |
AAECP3506H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading in Computer Consumable, Printers and Its Related Products. |
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No. of
Employees: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 14000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low.
Also, External borrowing of the company is huge. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealing with some caution. |
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
|
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 DENIED
MANAGEMENT NON CO –OPERATIVE
91-832-2735010
LOCATIONS
|
Registered Office : |
Belvedere, Flat No.303/204, Building No H-3, |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Branch Office 1: |
Sundew Apartment, Shop No.2, Near Cine Vishant Theatre, Aquem, Margo –
403601, |
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Tel. No.: |
91-832-2706745/2735010 |
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Branch Office 2 : |
Haroon Arcade, |
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Tel. No.: |
91-832-2426878/3294053 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Sanjay Chandiram Pherwani |
|
Designation : |
Director |
|
Address : |
M -3/4 Hira Moti, Spurti Co –op Housing Society, Mumbai – 411003, |
|
Date of Birth/Age : |
21.05.1966 |
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Date of Appointment : |
04.05.2009 |
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Din No.: |
00388129 |
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Name : |
Mr. Gyanchand Tikamdas Motwani |
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Designation : |
Director |
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Address : |
Mahalaxmi Apartments, Flat No. S-1, Comba, Margao, South Goa – 403601,
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Date of Birth/Age : |
17.04.1951 |
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Date of Appointment : |
19.06.2007 |
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Din No.: |
02267820 |
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Name : |
Mr. Jimmy Gyanchand Motwani |
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Designation : |
Director |
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Address : |
House No.394, A -3, Mahalaxmi Apartments, Flat No. S-1, Comba, Margao,
South Goa – 403601, |
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Date of Birth/Age : |
30.04.1979 |
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Date of Appointment : |
19.06.2007 |
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Din No.: |
02304176 |
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Name : |
Mr. Manisha Gyanchand Motwani |
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Designation : |
Director |
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Address : |
Mahalaxmi Apartments, Flat No. S-1, Comba, Margao, South Goa – 403601,
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Date of Birth/Age : |
30.04.1953 |
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Date of Appointment : |
19.06.2007 |
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Din No.: |
02304210 |
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Name : |
Mr. Pinky Jimmy Motwani |
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Designation : |
Director |
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Address : |
House No.394, A -3, Mahalaxmi Apartments, Flat No. S-1, Comba, Margao,
South Goa – 403601, |
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Date of Birth/Age : |
11.01.1980 |
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Date of Appointment : |
19.06.2007 |
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Din No.: |
02304228 |
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Name : |
Mr. Sumit Kumar Gyanchand Motwani |
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Designation : |
Director |
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Address : |
Flat No. S-1, Comba, Mahalaxmi Apartments, Salcete, Margao, South Goa
– 403601, |
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Date of Birth/Age : |
19.05.1986 |
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Date of Appointment : |
30.03.2010 |
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Din No.: |
02974325 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jimmy Gyanchand Motwani |
|
30000 |
|
Pinky Jimmy Motwani |
|
10000 |
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Gyanchand Tikamdas Motwani |
|
10000 |
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Manisha Gyanchand Motwani |
|
30000 |
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Sanjay Chandiram Pherwani |
|
10000 |
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Total |
|
90000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading in Computer Consumable, Printers and Its Related Products. |
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GENERAL INFORMATION
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No. of Employees : |
Information denied by management |
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Bankers : |
·
The Goa Urban Cooperative Bank Limited, ·
The Madgaum Urban Co – Operative Bank Limited,
Varsha, Aquem Branch, Margad – 403601, Goa, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P.G Bhagwat Chartered Accountant |
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Address : |
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Tel. No.: |
91-20-27290771/27291772/27291773 |
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Fax No.: |
91-20-27290774 |
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E-Mail : |
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Web Site: |
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Pan No.: |
AAAFB0762E |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
90000 |
Equity Shares |
Rs.10/- each |
Rs.0.900
Million |
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Particular |
Figures as at the end of current reporting period ending on March 31,
2012 |
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|
Shares outstanding at the beginning of the year |
90000 |
Rs. 0.900 |
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Shares outstanding at the end of the year |
90000 |
Rs. 0.900 |
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(b) Rights of equity Shareholders
The
company has only one class or equity shares, having par value of Rs.10/- per
share. Each holder of equity share is entitled for one vote per share and has a
right to receive dividend as recommended by the board of directors subject to
the necessary approval from the shareholders. In the event of liquidation or
the company, the holders of equity shares will be entitled to receive remaining
assets of the company after distribution of all creditors. The distribution
will be in proportion to the number of equity shares held by the shareholders
The
Board of directors have not recommended dividend for the year,
c)
Details of share holders holding more than 5% shares
|
Particular |
Figures as at the end of current reporting period |
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|
No. of Shares |
% of Holding |
|
Mr. Jimmy G. Motwani |
30.000 |
33.33 |
|
Mrs. Pinky J. Motwani |
10,000 |
11.11 |
|
Mr. Sanjay Pherwani |
10,000 |
11.11 |
|
Mrs. Manisha G. Motwani |
30,000 |
33.33 |
|
Mr. Gyanchand T.
Motwani |
10,000 |
11.11 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
0.900 |
0.900 |
0.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.592 |
1.503 |
1.967 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.492 |
2.403 |
2.867 |
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LOAN FUNDS |
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|
1] Secured Loans |
4.404 |
3.080 |
3.835 |
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2] Unsecured Loans |
13.107 |
12.148 |
8.096 |
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TOTAL BORROWING |
17.511 |
15.228 |
11.931 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.105 |
0.002 |
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TOTAL |
21.003 |
17.736 |
14.800 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.453 |
4.344 |
5.005 |
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Capital work-in-progress |
8.634 |
6.595 |
4.135 |
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INVESTMENT |
0.027 |
0.054 |
0.112 |
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DEFERREX TAX ASSETS |
0.154 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
8.026
|
4.710 |
4.634 |
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Sundry Debtors |
8.469
|
7.516 |
8.840 |
|
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Cash & Bank Balances |
2.418
|
3.960 |
2.498 |
|
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Other Current Assets |
0.847
|
1.057 |
0.000 |
|
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Loans & Advances |
0.340
|
0.147 |
1.137 |
|
Total
Current Assets |
20.100
|
17.390 |
17.109 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.568
|
9.029 |
10.233 |
|
|
Other Current Liabilities |
1.761
|
1.583 |
0.325 |
|
|
Provisions |
0.036
|
0.035 |
1.024 |
|
Total
Current Liabilities |
11.365
|
10.647 |
11.582 |
|
|
Net Current Assets |
8.735
|
6.743 |
5.527 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.021 |
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|
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TOTAL |
21.003 |
17.736 |
14.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2011 |
|
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SALES |
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Other Income |
|
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|
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TOTAL (A) |
109.079 |
118.813 |
105.611 |
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Less |
EXPENSES |
106.276 |
117.241 |
102.942 |
|
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|
|
TOTAL (B) |
106.276 |
117.241 |
102.942 |
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|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.803 |
1.572 |
2.669 |
|
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|
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|
Less |
FINANCIAL
EXPENSES (D) |
0.705 |
0.776 |
0.546 |
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.098 |
0.796 |
2.123 |
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.829 |
1.157 |
0.942 |
|
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|
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|
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|
PROFIT /(LOSS)
BEFORE TAX (E-F) (G) |
1.269 |
(0.361) |
1.181 |
|
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|
|
|
|
|
|
|
|
TAX (H) |
0.180 |
0.103 |
4.098 |
|
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|
PROFIT /(LOSS)
AFTER TAX (G-H) (I) |
1.089 |
(0.464) |
0.771 |
|
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|
Earnings Per
Share (Rs.) |
12.1 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.99 |
(0.39) |
0.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.39 |
(1.69) |
(5.34) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
(0.15) |
0.06 |
|
|
|
|
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|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.27 |
10.77 |
8.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77 |
1.63 |
1.48 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
No |
SUNDRY CREDITORS
DETAILS:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors |
9.568
|
9.029 |
10.233 |
|
|
|
|
|
|
Total |
9.568
|
9.029 |
10.233 |
OPERATIONS
The Company is in process of expanding its
customer base and efforts are being taken to expand is new areas
There is a good increase in trading activities
as compare to pervious year. Efforts are being made expand trading activities
of other products. Pune branch has started trading activities of company’s
products.
FORM 8
|
Corporate
identity number of the company |
U30007PN2007PTC130344 |
|
Name of the
company |
PRITHVI
IT PRODUCTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Belvedere, Flat No.303/204, Bldg. No H-3, Email: jimmy3030@rediffmail.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
The Goa Urban Cooperative Bank Limited, Email: gucb@sancharnet.in |
|
Nature of
instrument creating charge |
Agreement
for Loan Hypothecation
of the Motor Vehicles |
|
Date of
instrument Creating the charge |
08.09.2011 |
|
Amount secured by
the charge |
Rs.0.700 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 11.75% Term
of Payment: As per terms and conditions Margin As per terms and
conditions Extent and
operation of the charge Hypothecation
of ford fiesta 1.5 Titanium Car- Engine No. BT78716, Having Regst No.
Ga-08-R-3030. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of ford fiesta 1.5 Titanium Car- Engine No. BT78716, Having Regst No.
Ga-08-R-3030. |
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.54.57 |
|
|
1 |
Rs.87.90 |
|
Euro |
1 |
Rs.71.53 |
INFORMATION DETAILS
|
Information Gathered
By: |
SVA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
28 |
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.