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Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
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Name : |
PARMAR INTERNATIONAL PRIVATE LIMITED |
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Registered
Office : |
31, Shree Adinath Shopping Centre, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.03.2010 |
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Com. Reg. No.: |
25-135706 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
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CIN No.: [Company Identification
No.] |
U25209PN2010PTC135706 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP14122D |
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PAN No.: [Permanent Account No.] |
AAFCP3570L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Plastic Polymers. |
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No. of Employees
: |
37 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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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 |
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Maximum Credit Limit : |
USD 270000 |
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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 has been taken over the running business of Parmar Polymers, a
proprietory concern started in the year 2002 If 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) |
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|
A1 |
A1 |
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Risk Category |
ECGC Classification |
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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 |
LOCATIONS
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Rohit Popatlal Parmar |
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Designation : |
Director |
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Address : |
31, Shree Adinath Shopping Centre, |
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Date of Birth/Age : |
31.03.1975 |
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Qualification : |
B.Com |
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Date of Appointment : |
04.03.2010 |
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DIN No.: |
02000811 |
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Other
Directorship
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Name : |
Mrs. Rekha Rohit Parmar |
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Designation : |
Director |
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Address : |
31, Shree Adinath Shopping Centre, |
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Date of Birth/Age : |
13.03.1975 |
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Qualification : |
B.Com |
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Date of Appointment : |
04.03.2010 |
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DIN No.: |
02100321 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rohit Popatial parmar |
|
1200 |
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Rekha Rohit Parmar |
|
1050 |
|
Sushil Parmar |
|
2550 |
|
Popatlal Prmar |
|
200 |
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Total |
|
5000 |
As On 07.10.2011
|
List of Allottees |
|
No. of Allotted |
|
Rohit Popatial parmar |
|
4000 |
|
Popatlal Prmar |
|
667 |
|
Rekha Rohit Parmar |
|
12000 |
|
Sushil Parmar |
|
83333 |
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Total |
|
100000 |
As On 09.03.2011
|
List of Allottees |
|
No. of Allotted |
|
Rekha Rohit Parmar |
|
2550 |
|
Sushil Parmar |
|
22450 |
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Total |
|
25000 |
As on 30.09.2010
Equity Share Break up
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Plastic Polymers. |
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GENERAL INFORMATION
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No. of Employees : |
37 (Approximately) |
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Bankers : |
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(Rs.
In Millions) |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah Khandelwal Jain and Associates Chartered Accountants |
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Address : |
Level-3, |
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PAN.: |
AACFK3470E |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130000 |
Equity Shares |
Rs.100/-
each |
Rs.13.000
Millions |
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|
|
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As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.100/-
each |
Rs.3.000
Million |
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\
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
3.000 |
0.300 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
65.965 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
(0.034) |
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NETWORTH |
|
68.965 |
0.266 |
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LOAN FUNDS |
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|
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|
1] Secured Loans |
|
45.955 |
0.000 |
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2] Unsecured Loans |
|
10.482 |
0.000 |
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TOTAL BORROWING |
|
56.437 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.004 |
(0.015) |
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|
|
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|
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TOTAL |
|
125.406 |
0.251 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
1.393 |
0.008 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
69.705 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
|
46.928 |
0.000 |
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Sundry Debtors |
|
248.963 |
0.000 |
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Cash & Bank Balances |
|
10.383 |
0.270 |
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Other Current Assets |
|
7.937 |
0.025 |
|
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Loans & Advances |
|
9.506 |
0.027 |
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Total
Current Assets |
|
323.717 |
0.322 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Sundry Creditors |
|
210.779 |
0.169 |
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Other Current Liabilities |
|
51.391 |
0.000 |
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|
Provisions |
|
7.310 |
0.003 |
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Total
Current Liabilities |
|
269.480 |
0.172 |
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Net Current Assets |
|
54.237 |
0.149 |
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MISCELLANEOUS EXPENSES |
|
0.071 |
0.094 |
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|
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TOTAL |
|
125.406 |
0.251 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
32.154 |
(0.049) |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.365 |
0.00 |
|
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PROFIT BEFORE
TAX |
|
31.789 |
(0.049) |
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|
|
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Less |
TAX |
|
5.279 |
(0.015) |
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|
|
|
|
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|
PROFIT AFTER TAX |
|
26.510 |
(0.034) |
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BALANCE CARRIED
TO THE B/S |
|
26.510 |
(0.034) |
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TOTAL EARNINGS |
|
2.477 |
NA |
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Earnings Per
Share (Rs.) |
|
5302 |
151.24 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
9.78 |
(14.45) |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.46 |
(0.18) |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
4.73 |
0.65 |
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Current Ratio (Current Asset/Current Liability) |
|
|
1.20 |
1.87 |
LOCAL AGENCY FURTHER INFORMATION
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25209PN2010PTC135706 |
|
Name of the
company |
PARMAR INTERNATIONAL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
31, Shree Adinath Shopping Centre, |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10250904 |
|
Type of charge |
|
|
Particular of
charge holder |
Canara bank, Prime Corporate Branch, |
|
Nature of
instrument creating charge |
1.
Supplemental
Mortgage Deep 2.
Deep
of guarantee under consortium 3.
second
supplemental deed of hypothecation for increase in the overall limit 4.
second
supplemental working capital consortium agreement for increase in the overall
limit |
|
Date of
instrument Creating the charge |
14.10.2011 |
|
Amount secured by
the charge |
Rs.850.00
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest 1) 4.00% p.a. above the on going base rate of
Canara Bank with minimum of 14.75% p.a. 2) 5.50% p.a. above the on going base rate of
Bank of Baroda with Minimum of 16.25% p.a. Terms of Repayment Repayments of the dues under the credit facility are guaranteed by the
mortgagors and secured by the mortgagee of immovable properties mentioned I
the schedule Margin As per sanction letters of Canara Bank and bank of Extent and Operation of the
Charge Banks have the first charge by way of hypothecation / pledge of the
borrowers current assets both present and future and by mortgage and charge
on immovable and movable property (Other than current assets) in a from and
manner acceptable to the Banks. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Mortgage of
property at flat No. 1101, Eleventh Floor ‘D’ Building ‘Isha Emerald’s.
No.612 hissa No.2.3.4 and 5 CTS No. 3873, Munjeri (Bibwewadi) Pune, Mortgage of
property at flat no. 601, 6th floor, Building No. ”A’ Sujay Garden
No. 1 c0-operative housing Society Limited. S. No.706-A, 706-B Final plot No
410, City Survey No.12, Mouje Gultekdi, Pune Mortgage of
property bearing city survey No.4288 / Mortgage of
property at flat no.404, Fourth Floor, ‘A’ Building Shree Santinagar co-operative
housing Society Limited s.No63 hissa No.1/3A+1/4+1/5+1/6+1/7, Village Kondhwa
Budruk, Pune Mortgage of
property at Gat No. 842(Private) (Old No.836) Barshi, Solapur Mortgage of
property at office no.1 to 4, 2nd floor, Car park No. 1 ‘B’ wing JD’S
Platinum Towers, S.No.697/1, Final plot No.417, Sub plot No.4(A), Mumbai
(Gultekd) Pune. Mortgage of
property at office no.1 to 4, 3rd
floor, B’ wing JD’S Platinum Towers, S.No.697/1, Final plot No.417,
Sub plot No.4(A), Mumbai (Gultekd) Pune. Mortgage of
property at office no.5, 3rd
floor, 1 ‘B’ wing JD’S Platinum Towers, S.No.697/1, Final plot No.417,
Sub plot No.4(A), Mumbai (Gultekd) Pune. |
|
Date of
instrument modifying the charge |
11.04.2011 |
|
Particulars of
the present modification |
Supplement
mortgage deep is executed for securing the enhanced credit facility of
Rs.300.000 Millions. Sanctioned by mortgagee No.1 and mortgagee No.2 as the
simple mortgage deep executed on 26th October 2010 and
supplemental mortgage deep is executed on 06th April 2011 the
amount secured is Rs.550.000 Millions hereby enhanced to Rs.850.000 Millions. |
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.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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 |
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 |
|
45 |
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.