MIRA
INFORM REPORT
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Report Date : |
09.07.2012 |
IDENTIFICATION DETAILS
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Name : |
PROSPERITY EXIM PRIVATE LIMITED |
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Registered
Office : |
F-101, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.05.2005 |
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Com. Reg. No.: |
21-103184 |
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Capital Investment
/ Paid-up Capital : |
Rs.12.745 Millions |
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CIN No.: [Company Identification
No.] |
U51909WB2005PTC103184 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALP06330C |
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PAN No.: [Permanent Account No.] |
AADCP6747P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and exporter of castings cast, iron casings, ductile iron
casings and industrial castings etc. |
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No. of Employees : |
15 (Approximately) (In Office 5) (In Factory 10) |
RATING & COMMENTS
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MIRA’s Rating : |
B (35) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 96000 |
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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. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings 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.
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 |
INFORMATION DECLINED BY
Management Non Co-operative
LOCATIONS
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Registered Office : |
F-101, |
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Tel. No.: |
91-33-26881694/26509025/26509085 |
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Mobile No.: |
91-9903979653 (Mr. Shard Gupta) |
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Fax No.: |
91-33-26509083 |
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E-Mail : |
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Website : |
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Area : |
3000 sq. ft. |
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Location : |
Owned |
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Factory : |
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Area : |
2 Acres |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mukesh Gupta |
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Designation : |
Managing director |
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Address : |
GA-9, 1st Floor, Flat - A and D, |
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Date of Birth/Age : |
09.06.1951 |
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Date of Appointment : |
17.05.2005 |
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DIN No.: |
01314913 |
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Name : |
Ms. Kusum Gupta |
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Designation : |
Director |
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Address : |
GA-9, 1st Floor, Flat - A and D, |
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Date of Birth/Age : |
27.04.1951 |
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Date of Appointment : |
17.05.2005 |
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DIN No.: |
01314924 |
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Name : |
Mr. Sharad Gupta |
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Designation : |
Director |
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Address : |
GA-9, 1st Floor, Flat - A and D, |
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Date of Birth/Age : |
15.10.1978 |
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Date of Appointment : |
17.05.2005 |
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DIN No.: |
01314937 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Mukesh Gupta |
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329500 |
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Kusum Gupta |
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771500 |
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Sharad Gupta |
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153500 |
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Surbhi Gupta |
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20000 |
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Total |
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1274500 |
As on 30.09.2011
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Category |
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Percentage of Holding |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of castings cast, iron casings, ductile iron
casings and industrial castings etc. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
15 (Approximately) (In Office 5) (In Factory 10) |
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Bankers : |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
SASS and Associates Chartered Accountants |
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Address : |
106A, Moti Lal Nehru Road, Kolkata – 700029, West Bengal, India |
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PAN No.: |
AHDPB4907D |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital : Rs.15.000 Millions
Issued, Subscribed & Paid-up Capital :Rs.13.045 Millions
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
1274500 |
Equity Shares |
Rs.10/- each |
Rs.12.745
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 |
12.745 |
12.745 |
12.545 |
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2] Share Application Money |
0.000 |
0.000 |
2.000 |
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3] Reserves & Surplus |
11.203 |
8.866 |
5.725 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
23.948 |
21.611 |
20.270 |
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LOAN FUNDS |
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1] Secured Loans |
57.589 |
34.539 |
33.755 |
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2] Unsecured Loans |
0.042 |
0.030 |
0.454 |
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TOTAL BORROWING |
57.631 |
34.569 |
34.209 |
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DEFERRED TAX LIABILITIES |
0.067 |
0.067 |
0.067 |
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TOTAL |
81.646 |
56.247 |
54.546 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.475 |
1.701 |
1.938 |
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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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Inventories |
35.069
|
22.877
|
19.066 |
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Sundry Debtors |
32.756
|
25.598
|
26.402 |
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Cash & Bank Balances |
0.035
|
0.100
|
0.217 |
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Other Current Assets |
1.509
|
1.686
|
1.283 |
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Loans & Advances |
24.932
|
15.747
|
12.836 |
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Total
Current Assets |
94.301
|
66.008
|
59.804 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
7.727
|
6.809
|
3.497 |
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Other Current Liabilities |
0.638
|
0.005
|
3.715 |
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Provisions |
5.774
|
4.661
|
0.000 |
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Total
Current Liabilities |
14.139
|
11.475
|
7.212 |
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Net Current Assets |
80.162
|
54.533
|
52.592 |
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MISCELLANEOUS EXPENSES |
0.009 |
0.013 |
0.016 |
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TOTAL |
81.646 |
56.247 |
54.546 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Turnover |
155.892 |
86.023 |
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Interest Received |
0.290 |
0.141 |
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Other Income |
24.079 |
12.333 |
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TOTAL |
180.261 |
98.497 |
NA |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
211.914 |
NA |
NA |
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PROFIT BEFORE
TAX |
3.416 |
1.995 |
1.474 |
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TAX |
1.079 |
0.654 |
0.510 |
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PROFIT AFTER TAX
|
2.337 |
1.341 |
0.964 |
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PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
7.066 |
5.725 |
4.761 |
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BALANCE CARRIED
TO THE B/S |
9.403 |
7.066 |
5.725 |
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Earnings Per
Share (Rs.) |
1.83 |
1.05 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
1.30
|
1.36 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
2.19
|
2.32 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.57
|
2.95
|
2.39 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.09
|
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.00
|
2.13
|
2.04 |
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Current Ratio (Current Asset/Current Liability) |
|
6.67
|
5.75
|
8.29 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
No |
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10) Designation of contact person |
No |
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11) Turnover of firm for last two years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
No |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
Future Performance:
The directors are identifying prospective areas and will make appropriate investments that maximum the revenue of the company. However at present the overall economic condition is sluggish and does not warrant any investment that will yield revenue to the company.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U51909WB2005PTC103184 |
|
Name of the
company |
PROSPERITY EXIM PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
F-101, E-mail id: properity@vsnl.net |
|
Type of charge |
·
Book
Debts ·
Movable
Property (not being pledge) ·
Other
(Plant and Machinery) |
|
Particular of
charge holder |
Axis Bank Limited, Corporate Banking Branch (CBB), 1 Shakespeare
Sarani, AC Market, 3rd Floor, Kolkata-700071, West Bengal, India Email Id : Email |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Deed (Current Assets, Movables, Plant and Machinery) |
|
Date of
instrument Creating the charge |
10.02.2012 |
|
Amount secured by
the charge |
Rs.90.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest EPC, FBN: Upto 180
days: BR+2.50% i.e. Presently 12.50% p.a. payable at monthly rests, PCFC, PSFC: Upto
180 days: LIBOR+350 bps, subject to RBI Guidelines and availability of funds. Terms of
Repayment EPC/ PCFC:
Maximum within 180 days or expiry of contract/ export letter of credit for
shipment whichever is earlier. In case export
bills sent on collection basis, the EPC to be adjusted maximum within 60 days
from the date of shipment. FBP/ PSFC: On due
dates, In case of non- payment, the bills will be crystallized as per RBI
regulations. Margin EPC/PCFC: Drawing
will be permitted only against confirmed export orders/ letters of credit
lodged with the Bank. Actual drawing will be permitted upto 85% of the FOB
value of the confirmed export orders/ letter of credit or 85% of the value of
raw materials/ stock in process, finished goods, whichever is lower. FBP: Nil, PSFC: Nil, LER: Nil. Extent and
Operation of the charge Exclusive
hypothecation charge on the entire current assets of the company, both present
and future. Exclusive
hypothecation charge on the entire movable fixed assets of the company, both
present and future except vehicles if any. Export bills with
title to the goods duly endorsed in favour of the Bank. |
|
Short particulars
of the property charged |
First charge on
all the stock in trade both present and future consisting stock including
RMs, SIP, FGs, cash and other current assets and Outstanding monies,
receivable, claims and bills etc. Exclusive charge
on all the movable fixed assets both present and future consisting of plant,
machinery, spares, tools, accessories, fixtures, implements, fittings, other
installations, furniture, vehicles computers and all other articles,
equipments and things both present and future or about the borrowers factory
premises, warehouse and godowns at i) 18/1, Kumar Para Road, Howrah-711204,
ii) 432, G.T. Road, Ground Floor, Kajipara, P.S. Shibpur, Howrah |
Fixed Assets:
- Air Conditioner
- Computer
- Digital Still Camera
- Drill Machine
- Fax Machine
- Furniture and Fixture
- Grinding Machines
- Motor Car
- Motor Cycle
- Electrical Installation
- Packing Machines
- Pressure Gauge
- Refrigerator
- Electric Installation
- Xerox Machine
- Tools and Implements
- Typing and Machine
- Electronic Weighing Machines
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.55.42 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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.