|
Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRAKASH PLASTICS |
|
|
|
|
Registered
Office : |
A-6A, SIDCO Industrial Estate, Phase- 1, New Ashok Leyland Unit-1,
Hosur-635126, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Year of
Establishment : |
1999 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer of Plastic Industrial Components. |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietory concern having moderate track. The
manager Mr. Jitendra provided to us a few general information but denied to
disclose any financial details. Trade relations are reported as fair.
Business is active. Payment terms are unknown. The concern 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (PARTIAL DETAILS)
|
Name : |
Mr. Jitendra |
|
Designation : |
Manager |
|
Contact No.: |
91-9343395969 |
|
Date : |
21.12.2010 |
LOCATIONS
|
Registered Office / Factory : |
A-6A, SIDCO Industrial Estate, Phase- 1, New Ashok Leyland Unit-1,
Hosur-635126, Tamilnadu, India |
|
Tel. No.: |
91-4344-278877 |
|
Mobile No.: |
91-9343395969 (Mr. Jitendra) |
|
Fax No.: |
91-4344-420042 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
8000 Sq. Ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Prakash Valecha |
|
Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra |
|
Designation : |
Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Industrial Components. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
OEM’s |
|
|
|
|
No. of Employees : |
25 (Approximately) |
|
|
|
|
Bankers : |
·
Bank of Baroda, Hossur Branch, Tamilnadu, India ·
Dena Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. K. Rao and Company Chartered Accountant |
|
Address : |
Hossur, Tamilnadu, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
The above information has been declined by Mr. Jitendra.
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
No |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
No |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
------ |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
No |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
No |
|
29. Last accounts filed at ROC |
No |
|
30. Major Shareholders, if available |
No |
HISTORY:
Subject is one of the leading manufacturers, and
producer of plastic industrial components at Hosur, Tamilnadu.
The ever growing demands of plastic products and the capabilities to meet
the market demands considerably have enabled them to become a leading
manufacturer .They are known for making highest quality plastic products at
affordable prices as well as a very wide product range, technological
innovation, highest quality standards, spotless service record and a long lists
of satisfied customers. They provide Instrument panels and speedo covers for
automobile industries, Handles\Door Amrest in injection and Blow Moulding with
and without metal insert, Aesthetical parts like front shields, End caps
Bumpers, Handle covers etc, Gear Shift Liver Moutings (machined up to
30mic/tol), Paddles for Trucks, Hubcaps, Cover for glove box and small
compartments, Headlamp covers manufactured and painted as per customer
Requirement, They also make different kinds of srainers and pallrings used in
water treatment plants available in various size and shapes with different
mounting arrangements as per customer requirements, Different types of housings
used in water treatment plants and R.O systems with single and multy nozzles
available in various size and shapes with different mounting arrangements as
per customer requirements, Dust covers, Bump stop caps, spring locators,
shrouds, Bumper caps, etc used in various kinds of shock absorber as per customer
requirements, Blow moulded bellows, tanks, duct screen, hose pipes and other
components , Unions and fittings for water and chemicals treatment plants,
Custom made fully and semi automatic valves for water treatment plants, Wire
and pipe binding straps, fixed and reusable type in different sizes and shapes.
As a leading supplier of plastic products, Prakash Plastics, is a
superior Quality Standard Company, including within its profile extensive
ranges poly urethane bushes, insulators, pressure pads for automobile and nylon
sleeves used in hydraulic equipments, key board covers and other plastic parts
used in computer and electronic industry, according to the customers'
requirements, they have certified quality and full respect of delivery term.
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. 57.21 |
|
|
1 |
Rs. 89.42 |
|
Euro |
1 |
Rs. 71.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.