|
Report Date : |
23.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
PYRAMID PLY AND WOOD PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A1/A-B-4, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.06.2008 |
|
|
|
|
Com. Reg. No.: |
55-178919 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20232DL2008PTC178919 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Plywood |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 20000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record.
Profitability of the company appears to be low. However, trade relations are reported
to be fair. Business is active. Payments are reported to be slow but correct.
The company can be considered for business dealing with some caution. Note: Profit and Loss A/c not available. |
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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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.
LOCATIONS
|
Registered Office : |
A1/A-B-4, Main Road, Chattarpur Extension, New Delhi – 110074, India |
|
Tel. No.: |
91-11-26807495/ 26802657 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Shiv Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
K-10/11, DLF Phase – II, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
06.05.1975 |
|
Date of Appointment : |
02.06.2008 |
|
DIN No.: |
02071772 |
|
|
|
|
Name : |
Mrs. Asha Aggarwal |
|
Designation : |
Director |
|
Address : |
K-10/11, DLF Phase – II, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
07.12.1973 |
|
Date of Appointment : |
02.06.2008 |
|
DIN No.: |
02083184 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Asha Aggarwal |
|
60000 |
|
Shiv Kumar Aggarwal |
|
190000 |
|
|
|
|
|
Total |
|
250000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Plywood |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227 D, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajat Goyal Chartered Accountant |
|
Address : |
H-1-109, Garg Tower Netji Subhash Place, Pitampura – 110034,
India |
|
PAN No.: |
AAIFK1650J |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 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 |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.440 |
1.295 |
0.493 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.940 |
3.795 |
2.993 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.234 |
6.929 |
0.138 |
|
|
2] Unsecured Loans |
14.753 |
11.194 |
2.739 |
|
|
TOTAL BORROWING |
28.987 |
18.123 |
2.877 |
|
|
DEFERRED TAX LIABILITIES |
0.094 |
0.054 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.021 |
21.972 |
5.870 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.775 |
1.764 |
0.328 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.253 |
2.724 |
0.880 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.207
|
6.718 |
4.755 |
|
|
Sundry Debtors |
37.264
|
41.558 |
21.124 |
|
|
Cash & Bank Balances |
0.723
|
0.762 |
1.148 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.324
|
0.936 |
2.067 |
|
Total
Current Assets |
52.518
|
49.974 |
29.094 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor and Other Current Liabilities |
20.178
|
31.396 |
23.680 |
|
|
Provisions |
1.383
|
1.135 |
0.798 |
|
Total
Current Liabilities |
21.561
|
32.531 |
24.478 |
|
|
Net Current Assets |
30.957
|
17.443 |
4.616 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.036 |
0.041 |
0.046 |
|
|
|
|
|
|
|
|
TOTAL |
34.021 |
21.972 |
5.870 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.23
|
13.35 |
9.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.44
|
1.54 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info Agents
|
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 |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
No |
|
Profitability for last three years |
No |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10185402 |
|
Corporate
identity number of the company |
U20232DL2008PTC178919 |
|
Name of the
company |
PYRAMID PLY AND
WOOD PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A1/A-B4, Main
Road, Chattarpur Extension, New Delhi – 110074, India |
|
Type of charge |
Book Debts Movable Property Others: current
Assets and Movable Fixed Assets |
|
Particular of
charge holder |
· Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227 D, Nariman Point, Mumbai – 400021,
Maharashtra, India CIN No.: L65110MH1985PLC038137 |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
Deed of Hypothecation |
|
Date of
instrument Creating the charge |
01/01/2010 |
|
Amount secured by
the charge |
Rs.27.500
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Overdraft: Floating over the tenure of the facility.
It is linked to Kotak Mahindra Bank's Benchmark Prime Lending Rate. Terms of
Repayment As may be specified
by the Bank from time to time. Margin Letter of Credit
(Inland and foreign) - Minimum cash margin of 20% shall be provided upfront
in the form of FD Lien shall be marked on the Fixed Deposit in the favour of
the Bank. Extent and
Operation of the charge First charge
created by way of Hypothecation on whole of the Borrower's Present and Future
Current and Movable Fixed Assets; to secure the repayment of facilities
granted by the Kotak Mahindra Bank Limited to the borrower. |
|
Short particulars
of the property charged |
The whole of
Borrower's Current and Movable Fixed Assets both present and future the
Supplementary Deed of Hypothecation. |
|
Particulars of
the present modification |
The Bank had
granted Letter of Credit facility of Rs.22.500 Millions and Overdraft
facility of Rs.5.000 Millions (Sub limit) on 13.11.09. The LC facilities of
Rs.22.500 Millions have been enhanced to Rs.27.500 Millions and accordingly
charge is modified and extended to the revised facilities of Rs.27.500
Millions as stated in Supplementary Deed of Hypothecation. |
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 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.55.38 |
|
|
1 |
Rs.86.75 |
|
Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
27 |
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.