1. Summary Information
|
|
|
Country |
|
|
Company Name |
PRG
INTERNATIONAL ELECTRICALS PRIVATE LIMITED |
Principal Name 1 |
Mr. Prem Chand Goel |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Rajeev Goyal |
|
|
|
Registration # |
55-149776 |
|
Street Address |
B-43, Jhilmil
Industrial Area, Shahdara, |
||
|
Established Date |
16.06.2006 |
SIC Code |
-- |
|
Telephone# |
91-11-22117992 /
2574035 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-22583962 |
Business Style 2 |
--- |
|
Homepage |
Product Name 1 |
Ceiling Fans |
|
|
# of employees |
Not Available |
Product Name 2 |
Other Electricals Goods / Appliance |
|
Paid up capital |
Rs.5,40,77,600/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate – 13.00% Directors or
relatives of Directors – 86.73% Other top fifty
shareholders - 0.27% |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
268,965,000 |
Current Liabilities |
135,345,000 |
|
Inventories |
156,584,000 |
Long-term Liabilities |
341,443,000
|
|
Fixed Assets |
165,319,000 |
Other Liabilities |
13,071,000 |
|
Deferred Assets |
-- |
Total Liabilities |
489,859,000 |
|
Invest& other Assets |
27,672,000 |
Retained Earnings |
74,603,000 |
|
|
|
Net Worth |
128,681,000 |
|
Total Assets |
618,540,000 |
Total Liab. & Equity |
618,540,00, |
|
Total Assets (Previous Year) |
470,960,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Total Income |
745,743,000 |
Net Profit |
6,957,000 |
|
Total Income (Previous
yr) |
618,444,000 |
Net Profit(Prev.yr) |
10,595,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRG INTERNATIONAL ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-43, Jhilmil Industrial Area, Shahdara, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.06.2006 |
|
|
|
|
Com. Reg. No.: |
55-149776 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.54.078 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32108DL2006PTC149776 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP13367E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP9427A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Ceiling Fans and Other Electricals Goods / Appliance |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 510000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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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 commitment. The company can be considered normal for business dealings at usual
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
B-43, Jhilmil Industrial Area, Shahdara, |
|
Tel. No.: |
91-11-22117992 / 22574035 |
|
Mobile No.: |
91-9810000842 (Mr. Tarun Sharma) |
|
Fax No.: |
91-11-22583962 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No.40, Block B, Industrial Area , Shahdara, |
DIRECTORS
As on 30.09.201
|
Name : |
Mr. Prem Chand Goel |
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Designation : |
Director |
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Address : |
C-63, Vivek Vihar, |
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Date of Birth/Age : |
14.05.1931 |
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Date of Appointment : |
16.06.2006 |
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DIN No.: |
00166623 |
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Other
Directorship
|
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Name : |
Mr. Rajeev Goyal |
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|
Designation : |
Director |
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Address : |
C-63, Vivek Vihar, |
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Date of Birth/Age : |
31.03.1969 |
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Date of Appointment : |
06.12.2006 |
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DIN No.: |
00166538 |
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Other Directorship
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KEY EXECUTIVES
|
Name : |
Mrs. Shelly Bansal |
|
Designation : |
Secretary |
|
Address : |
99, Avtar Enclave, Paschim Vihar, New Delhi-110063, |
|
Date of Birth/Age : |
26.01.1987 |
|
Date of Appointment : |
05.08.2011 |
|
|
|
|
Name : |
Mr. Tarun Sharma |
|
Designation : |
General Manager |
SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Prem Chand Goel |
|
1274630 |
|
Rajeev Goyal |
|
2840190 |
|
Neena Goyal |
|
575000 |
|
Murti Devi Goyal |
|
100 |
|
Ashish Jain |
|
100 |
|
Asha Lata Jain |
|
100 |
|
Ram Kishore Jain |
|
100 |
|
Ram Kishore Jain (Karta of Ram Kishore Jain HUF) |
|
100 |
|
Sonu Lohiya |
|
100 |
|
Sulekha Rani |
|
100 |
|
Sunita Ahuja |
|
100 |
|
Prem Chand Goel (Karta of Prem Chand and Sons) |
|
100 |
|
Ginni Fincap Private Limited, |
|
717000 |
|
Maruti Agencies |
|
10 |
|
Arun Kumar Jain |
|
10 |
|
Rishabh Jain |
|
10 |
|
Akhil jain |
|
10 |
|
Total |
|
5407760 |
As on 30.09.2011
Equity Share Break up
|
Category |
Percentage |
|
Bodies corporate |
13.00 |
|
Directors or relatives of Directors |
86.73 |
|
Other top fifty shareholders |
0.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ceiling Fans and Other Electricals Goods / Appliance |
|
|
|
|
Products : |
|
PRODUCTION STATUS
AS ON (31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Stamping and Lamination |
Kg. |
4191595.300 |
|
Ceiling Fan |
Pcs. |
244430 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
--- |
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|
|
Auditors : |
|
|
Name : |
Ravindra Jain and Associates Chartered Accountant |
|
Address : |
106, Prakash House, 437/4B, |
|
PAN.: |
AAHFR1866J |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5407760 |
Equity Shares |
Rs.10/- each |
Rs.54.078
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 |
54.078 |
54.077 |
51.227 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
74.603 |
67.643 |
34.298 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
128.681 |
121.720 |
85.525 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
286.438 |
127.599 |
165.658 |
|
|
2] Unsecured Loans |
55.005 |
49.600 |
83.105 |
|
|
TOTAL BORROWING |
341.443 |
177.199 |
248.763 |
|
|
DEFERRED TAX LIABILITIES |
11.431 |
9.084 |
6.817 |
|
|
|
|
|
|
|
|
TOTAL |
481.555 |
308.003 |
341.105 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
165.319 |
152.204 |
140.381 |
|
|
Capital work-in-progress |
0.191 |
37.572 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
27.390 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
156.584
|
147.470
|
196.620 |
|
|
Sundry Debtors |
152.756
|
64.486
|
114.966 |
|
|
Cash & Bank Balances |
48.226
|
13.793
|
10.098 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
67.983
|
55.254
|
52.887 |
|
Total
Current Assets |
425.549
|
281.003 |
374.571 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
102.992
|
81.251
|
103.575 |
|
|
Other Current Liabilities |
32.353
|
75.858
|
67.264 |
|
|
Provisions |
1.640
|
5.848
|
3.280 |
|
Total
Current Liabilities |
136.985
|
162.957 |
174.119 |
|
|
Net Current Assets |
288.564
|
118.046
|
200.452 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.091 |
0.181 |
0.272 |
|
|
|
|
|
|
|
|
TOTAL |
481.555 |
308.003 |
341.105 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
618.444 |
646.858 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
745.743 |
618.444 |
646.858 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
569.810 |
606.046 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
692.499 |
569.810 |
606.046 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
53.244 |
48.634 |
40.812 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
32.669 |
23.910 |
21.473 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.575 |
24.724 |
19.340 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.727 |
9.137 |
7.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.848 |
15.587 |
11.460 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.891 |
4.992 |
3.958 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6.957 |
10.595 |
7.502 |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
152.221 |
129.679 |
118.915 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
NA |
46.062 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.29 |
1.96 |
1.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.93
|
1.71 |
1.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.50
|
3.60 |
2.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.07 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.72
|
2.79
|
4.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.11
|
1.72
|
2.15 |
LOCAL AGENCY FURTHER INFORMATION
Operation:
During the year the turnover of the company has been increased slightly
as compare to pervious year whereas the profitability has been decreased. Future
prospect look good and the company is likely to resister impressive growth in
coming year.
Form 8
|
Corporate
identity number of the company |
U32108DL2006PTC149776 |
|
Name of the
company |
PRG International
Electricals Private Limited |
|
Address of the
registered office or of the principal place of business in |
B-43, Jhilmil Industrial Area, Shahdara, |
|
This form is for |
Modification
of Charges |
|
Charge identification
(ID) number of the charge to be modified |
10067074 |
|
Type of charge |
|
|
Particular of
charge holder |
State bank of |
|
Nature of
instrument creating charge |
|
|
Date of
instrument Creating the charge |
20.08.2011 |
|
Amount secured by
the charge |
Rs.241.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of interest
@3.75% margin above base Rate which is presently 9.25% p.a. present effective
rate 13.00% p.a. with monthly rests. Terms of
Repayments The Terms of Loan
of Rs.20.000 Millions is repayable in 48 monthly installments of Rs.4.150
Millions each with the first installment commencing on April 2011 and last
installment falling due on March 2015 Margin Raw Materials:
Imported / Indigenous / Semi Finished good / Finished good-25%. Domestic
Receivable -40% term Loan -35%, LC of Rs. 20% and BG-20 Extent and
Operation of the charge 100% Other The above is to
secure the credit facilities of Rs.241.200 Millions i.e. Cash Credit (Hyp.)
Rs.140.00 Millions, CC (Book Debts) (Rs.60.000 Millions), EPC Rs(20.000
Millions), FBP/FBO of (Rs.12.500 Millions), Term Loan-I (Present outstanding)
Rs.1.200 Millions, Term Loan –II Rs.20.000 Millions, Letter of Credit Rs.
40.000 Millions and BG of Rs.40.000 Millions, granted by the Bank to the
company. 50%
Interchangeability between LC and BG both ways permitted. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First
Hypothecation of the entire current assets including raw-Materials, stores and
spares, stock in process, finished good including good in transit and all the
book- debts / receivable Company both
present and future. Extension of
charge on all the present and future fixed assets of the company. First
Hypothecation charge over plant and machinery and the entire fixed assets of
the company both present and future
Extension of charge on all the current assets of the company both present and
future Negative lien on
factory land and building comprising land measuring 908 sq. yards out of
total land admeasuring 2422.22 sq. yards situated at Plot No. 40 in block B
Industrial Area Shahdara Delhi together with all present and future
infrastructures thereon. Corporate
Guarantee of M/s P R Stampings (Private) Limited. |
|
Date of instrument
modifying the charge |
06.02.2010 |
|
Particulars of
the present modification |
Total credit
facilities now enhanced from Rs.190.500 Millions to Rs.241.200 Millions I.E.
Cash Credit (Hyp.) Rs.140.00 Millions, CC (Book Debts) (Rs.60.000 Millions),
EPC Rs(20.000 Millions), FBP/FBO of (Rs.12.500 Millions), Term Loan-I
(Present outstanding) Rs.1.200 Millions, Term Loan –II Rs.20.000 Millions,
Letter of Credit Rs. 40.000 Millions and BG of Rs.40.000 Millions. Other
Terms and conditions remaining the same. |
Fixed Assets:
- Machinery
- Testing Equipments
- Weighting Equipments
- Electric Motor
- Crane
- Conveyor
- Air Purifier
- Dies and Tool
- Generator
- Electric installation
- Fire Extinguisher
- Fan
- Air Conditioner
- EPBAX
- Water Filter
- Fax
- Water Cooler
- Mobile Phone
- Photocopier machine
- Office Equipments
- Furniture and Fixture
- Car
- Scooter
- Computer and Peripherals
- Property at J.I.A
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.48.68 |
|
|
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.63.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
48 |
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.