MIRA
INFORM REPORT
|
Report Date : |
12.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
PADMAVATI PLY PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Survey No 267 and 268, Ganganpahad, |
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Country : |
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|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
13.07.1997 |
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|
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|
Com. Reg. No.: |
027639 |
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Capital Investment
/ Paid-up Capital : |
Rs. 7.500 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20220AP1997PTC027639 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDP01114B |
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PAN No.: [Permanent Account No.] |
AABCP2535M |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacture of Pre-Laminated
Particle Boards, Particle Boards, Door Skin, Melamine Door Skin, Prelaminated
Particle Boards, LEO Classic, Pre Laminated MDF, HDF Door Skin, MDF Door
Skin Pre-Laminated MDF Boards And Melamine Moulded Door Skins. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 107088 |
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|
|
|
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 a well 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) |
|
India |
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 : |
Survey No 267 and 268, Ganganpahad, Hyderabad 501323, Andhra Pradesh,
India |
|
Tel. No.: |
91-40-65978909/65979909 |
|
Fax No.: |
91-40-23462909 |
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E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Anil Agarwal |
|
Designation : |
Director |
|
Address : |
6-3-1186/A/1 Begumpet, Hyderabad 500016, Andhra Pradesh, India |
|
Date of Birth/Age : |
15.03.1964 |
|
Date of Appointment : |
18.09.1997 |
|
|
|
|
Name : |
Mr. Ravindra Agarwal |
|
Designation : |
Director |
|
Address : |
6-3-1186/A/1 Begumpet, Hyderabad 500016, Andhra Pradesh, India |
|
Date of Birth/Age : |
26.04.1962 |
|
Date of Appointment : |
25.08.2009 |
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|
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|
Name : |
Mrs. Anita Agarwal |
|
Designation : |
Director |
|
Address : |
6-3-1186/A/1 Begumpet, Hyderabad 500016, Andhra Pradesh, India |
|
Date of Birth/Age : |
15.11.1964 |
|
Date of Appointment : |
18.09.1997 |
|
|
|
|
Name : |
Mr. Kapil Agarwal |
|
Designation : |
Director |
|
Address : |
6-3-1186/A/1 Begumpet, Hyderabad 500016, Andhra Pradesh, India |
|
Date of Birth/Age : |
11.06.1983 |
|
Date of Appointment : |
07.10.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mr. Anil Agarwal |
81500 |
|
Mr. Ravindra Agarwal |
1000 |
|
Mrs. Anita Agarwal |
367000 |
|
Mr. Kapil Agarwal |
188000 |
|
Mrs. Sheetal Agarwal |
1000 |
|
Mrs. Pooja Agarwal |
11500 |
|
Mrs. Manisha Agarwal |
100000 |
|
Total |
750000 |
AS ON 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Pre-Laminated
Particle Boards, Particle Boards, Door Skin, Melamine Door Skin, Prelaminated
Particle Boards, LEO Classic, Pre Laminated MDF, HDF Door Skin, MDF Door
Skin Pre-Laminated MDF Boards And Melamine Moulded Door Skins. |
PRODUCTION STATUS
AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Common Plywood |
Sq. Mts. |
425000 |
-- |
|
Part Board |
|
1178000 |
898807 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
ING Vysya Bank Limited, 8-2-120/76/1/B, Ground
Floor, Ashoka Hitech Chambers, Road No. 2 Banjara Hills, Hyderabad 500034,
Andhra Pradesh, India ·
HDFC Bank |
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Facilities : |
Rs. In Millions
|
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|
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
R P Nagla and Company Chartered Accountant |
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Address : |
8-13-72/4, Plot No. C 1, Opposite NPA Raghavendra Colony,
Shivrampally, Hyderabad 500052, Andhra Pradesh, India |
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|
|
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs. 10 each |
Rs.7.500 millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs. 10 each |
Rs. 7.500 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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.500 |
7.500 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
19.272 |
14.905 |
11.046 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
26.772 |
22.405 |
16.046 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.080 |
22.711 |
33.513 |
|
|
2] Unsecured Loans |
35.027 |
20.969 |
25.372 |
|
|
TOTAL BORROWING |
43.107 |
43.680 |
58.885 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.023 |
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|
|
|
|
|
|
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TOTAL |
69.879 |
66.085 |
74.954 |
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|
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|
|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
38.938 |
40.538 |
47.676 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
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INVESTMENT |
2.500 |
2.500 |
3.779 |
|
|
DEFERREX TAX ASSETS |
0.016 |
0.064 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
23.453
|
9.982 |
14.062 |
|
|
Sundry Debtors |
6.025
|
11.053 |
3.412 |
|
|
Cash & Bank Balances |
5.711
|
1.260 |
1.633 |
|
|
Other Current Assets |
0.629
|
0.598 |
0.869 |
|
|
Loans & Advances |
10.693
|
5.760 |
10.318 |
|
Total
Current Assets |
46.511
|
28.653 |
30.294 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.344
|
3.730 |
5.944 |
|
|
Other Current Liabilities |
1.440
|
0.058 |
0.174 |
|
|
Provisions |
3.318
|
1.919 |
0.735 |
|
Total
Current Liabilities |
18.102
|
5.707 |
6.853 |
|
|
Net Current Assets |
28.409
|
22.946 |
23.441 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.016 |
0.037 |
0.058 |
|
|
|
|
|
|
|
|
TOTAL |
69.879 |
66.085 |
74.954 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
100.470 |
119.644 |
94.837 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
100.470 |
119.644 |
94.837 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
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|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
81.315 |
100.072 |
78.167 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
81.315 |
100.072 |
78.167 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.155 |
19.572 |
16.670 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
5.436 |
7.170 |
8.080 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.719 |
12.402 |
8.590 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
5.985 |
6.712 |
4.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.734 |
5.690 |
4.158 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.368 |
1.832 |
1.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.366 |
3.858 |
3.119 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.82 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.34
|
3.22 |
3.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.69
|
4.75 |
4.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.05
|
8.22 |
5.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.25 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.28
|
2.20 |
4.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.56
|
5.02 |
4.42 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION
The director wish to inform that during the year the company has
achieved a total turnover of Rs. 158.320 millions on manufacturing and sale of
plywood, particle board and door screen compared to Rs. 12.042 millions. during
the year the company has incurred a profit of Rs. 4.366 millions after
providing for depreciation on fixed assets compared to earning a net profit
after depreciation of Rs. 3.858 millions during the previous year the company
has established a wide range of market over a period of 13 years in tough
competition from the other manufacturer in the field, the company could achieve
favorable results and retained its profitability.
The directors are hopeful that, Bering unforeseen circumstances, the
company will achieve good result in the forthcoming years.
NOTE:
Registered office of the company has been shifted from 6-3-1186/A/1 Begumpet, Hyderabad, Andhra Pradesh, India to the present address w.e.f. 15.07.2009
FIXED ASSETS:
·
Land
·
Building
·
Machinery
·
Vehicle
·
Computer
·
Furniture
FORM 8
|
Corporate
identity number of the company |
U20220AP1997PTC027639 |
|
Name of the
company |
PADMAVATI PLY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Survey No 267 and 268, Ganganpahad, Hyderabad 501323, Andhra Pradesh,
India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
ING Vysya Bank Limited, 8-2-120/76/1/B, Ground Floor, Ashoka Hitech
Chambers, Road No. 2 Banjara Hills, Hyderabad 500034, Andhra Pradesh, India Email: cms@companiesinn.com |
|
Nature of
instrument creating charge |
Additional Charge
Letter. |
|
Date of instrument
Creating the charge |
08.03.2011 |
|
Amount secured by
the charge |
Rs. 307.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest NA (The immovable
property of the company has been given as collateral security for the
facility taken by M/s.ABHEDYA
INDUSTRIES LIMITED) Terms of repayment NA (The immovable
property of the company has been given as collateral security for the
facility taken by M/s.ABHEDYA
INDUSTRIES LIMITED) Margin NA (The immovable
property of the company has been given as collateral security for the
facility taken by M/s.ABHEDYA
INDUSTRIES LIMITED) Extent and operation of the charge First charge on
the immovable property of the company for the facility taken by M/s.ABHEDYA
INDUSTRIES LIMITED. |
|
Short particulars
of the property charged (Including location of the property) |
All that part and
parcel of property in bearing No.7-4-117/3/1 in Sy no.267 and 268 admeasuring
Ac.2.14 Guntas situated at
Gaganpahad Village, Rajendranagar Mandal Ranga Reddy Dt. A P and bounded by
North : Vendors Land, South : Road 40'0 wide, East : Vendors land and West :
Road 30'0 wide. |
|
Particulars of
the present modification |
The limit has been
enhanced from Rs.230.000 millions to Rs.307.000 millions .The limit is
additionally secured by the facility taken by M/s.ABHEDYA INDUSTRIES LIMITED. The EM on the
immovable property has been extended to the enhanced limit. All other terms
and condition remain unchanged. |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
no |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
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 Intl
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 companys 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.55.24 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
47 |
This score serves as a reference to assess SCs 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.