BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
PRAKASH RETAIL PRIVATE LIMITED |
Principal Name 1 |
MR. SURYAPRAKASH KAPPETTU |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. KAPPETTU ASHOK KUMAR |
|
|
|
Registration # |
08-022698 |
|
Street Address |
AMBALPADY POST, UDUPI, UDUPI – 576 103,
KARNATAKA |
||
|
Established Date |
26.08.1997 |
SIC Code |
-- |
|
Telephone# |
91-820-2523842/ 2523843 |
Business Style 1 |
RETAILER |
|
Fax # |
NOT AVAILABLE |
Business Style 2 |
HOME APPLIANCES |
|
Homepage |
Product Name 1 |
KITCHEN APPLIANCES |
|
|
# of employees |
400 (APPROXIMATELY) |
Product Name 2 |
-- |
|
Paid up capital |
RS.18,670,330/- |
Product Name 3 |
-- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS – 100% |
Banking |
SYNDICATE BANK |
|
Public Limited Corp. |
NO |
Business Period |
14 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
68,440,000
|
Current Liabilities |
167,255,000
|
|
Inventories |
211,865,000
|
Long-term Liabilities |
192,430,000 |
|
Fixed Assets |
130,058,000 |
Other Liabilities |
10,038,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
369,723,000 |
|
Invest& other Assets |
4,824,000 |
Retained Earnings |
26,794,000 |
|
|
|
Net Worth |
45,464,000 |
|
Total Assets |
415,187,000 |
Total Liab. & Equity |
415,187,000 |
|
Total Assets (Previous Year) |
291,503,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
1,256,712,000 |
Net Profit |
3,145,000 |
|
Sales(Previous yr) |
1,055,193,000 |
Net Profit(Prev.yr) |
4,412,000 |
MIRA
INFORM REPORT
|
Report Date : |
03.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRAKASH RETAIL PRIVATE LIMITED (w.e.f. 24.09.2008) |
|
|
|
|
Formerly Known
As : |
PRAKASH ELECTRIC COMPANY PRIVATE LIMITED (w.e.f. 23.04.1999) PRAKASH ELECTRIC COMPANY (UDUPI) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ambalpady Post,
Udupi, Udupi – 576 103, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.08.1997 |
|
|
|
|
Com. Reg. No.: |
08-022698 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.18.670
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52335KA1997PTC022698 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRPO3095B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACCP1251H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Retailer of Home Appliances and Kitchen Appliances. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 182000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. The company can be considered for small to mediocre 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) |
|
|
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 : |
Ambalpady Post,
Udupi, Udupi – 576103, |
|
Tel. No.: |
91-820-2523842/ 2523843 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Suryaprakash Kappettu |
|
Designation : |
Managing Director |
|
Address : |
‘Pancharatna’, Kappettu, Ambalpady Udupi, |
|
Date of Birth/Age : |
29.07.1955 |
|
Date of Appointment : |
30.04.1999 |
|
DIN No.: |
00047204 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Mr. Kappettu Ashok Kumar |
|
Designation : |
Director |
|
Address : |
‘Pancharatna’, Kappettu, Ambalpady Udupi, |
|
Date of Birth/Age : |
06.03.1956 |
|
Date of Appointment : |
26.08.1997 |
|
DIN No.: |
00083517 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Mr. Harish Moodanidamboor |
|
Designation : |
Director |
|
Address : |
‘Pancharatna’, Kappettu, Ambalpady Udupi, |
|
Date of Birth/Age : |
22.08.1960 |
|
Date of Appointment : |
26.08.1997 |
|
DIN No.: |
00083524 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Mr. Suresh Moodanidamboor |
|
Designation : |
Director |
|
Address : |
‘Pancharatna’, Kappettu, Ambalpady Udupi, |
|
Date of Birth/Age : |
09.10.1964 |
|
Date of Appointment : |
26.08.1997 |
|
DIN No.: |
00098635 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Mr. Rajesh Moodnidamboor |
|
Designation : |
Director |
|
Address : |
‘Pancharatna’, Kappettu, Ambalpady Udupi, |
|
Date of Birth/Age : |
12.05.1971 |
|
Date of Appointment : |
26.08.1997 |
|
DIN No.: |
00098641 |
|
Other Directorship : |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Suryaprakash K. |
|
553720 |
|
Ashok Kumar |
|
328468 |
|
Harish M. |
|
362450 |
|
Suresh M. |
|
325682 |
|
Rajesh M. |
|
296713 |
|
Total |
|
1867033 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Retailer of Home Appliances and Kitchen Appliances. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
400 (Approximately) |
|||||||||||||||||||||||||||
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Bankers : |
v
Syndicate
Bank, Catholic Centre, Udupi – 576 101, v
Axis
Bank, Simax Commercial Complex, 1st Floor, Court Road, Udupi – 576
101, v
ICICI
Bank Limited v
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
|||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Prabhajith and Company Chartered Accountants |
|
Address : |
D.No.9-4-133C, Sri Ganesh Prabha, Tenkpet, Udupi – 576 201, |
|
Tel. No.: |
91-820-2521636/ 2523636 |
|
PAN No.: |
ACQPB4328Q |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4900000 |
Equity Shares |
Rs.10/- each |
Rs.49.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1867033 |
Equity Shares |
Rs.10/- each |
Rs.18.670
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 |
18.670 |
18.670 |
18.670 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
26.794 |
23.648 |
19.237 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
45.464 |
42.318 |
37.907 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
164.384 |
81.290 |
76.363 |
|
|
2] Unsecured Loans |
28.046 |
9.927 |
10.030 |
|
|
TOTAL BORROWING |
192.430 |
91.217 |
86.393 |
|
|
DEFERRED TAX LIABILITIES |
0.475 |
0.616 |
0.606 |
|
|
|
|
|
|
|
|
TOTAL |
238.369 |
134.151 |
124.906 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
130.058 |
61.832 |
47.480 |
|
|
Capital work-in-progress |
0.000 |
0.299 |
0.240 |
|
|
|
|
|
|
|
|
GOODWILL |
4.824 |
4.824 |
4.824 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
211.865
|
163.552
|
135.782
|
|
|
Sundry Debtors |
14.575
|
19.256
|
12.739
|
|
|
Cash & Bank Balances |
15.326
|
6.265
|
4.211
|
|
|
Other Current Assets |
33.466
|
31.535
|
29.115
|
|
|
Loans & Advances |
5.073
|
3.940
|
4.682
|
|
Total
Current Assets |
280.305
|
224.548
|
186.529
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
167.255
|
149.865
|
109.261
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000
|
|
|
Provisions |
9.563
|
7.487
|
4.906
|
|
Total
Current Liabilities |
176.818
|
157.352
|
114.167
|
|
|
Net Current Assets |
103.487
|
67.196
|
72.362
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
238.369 |
134.151 |
124.906 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1256.712 |
1055.193 |
926.826 |
|
|
|
Other Income (Miscellaneous Income) |
5.611 |
4.452 |
3.755 |
|
|
|
TOTAL (A) |
1262.323 |
1059.645 |
930.581 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
1232.816 |
1033.902 |
907.989 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1232.816 |
1033.902 |
907.989 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
29.507 |
25.743 |
22.592 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
12.387 |
10.163 |
10.950 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
17.120 |
15.580 |
11.642 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.971 |
9.126 |
7.774 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.149 |
6.454 |
3.868 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.004 |
2.042 |
1.489 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.145 |
4.412 |
2.379 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.68 |
2.36 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.25 |
0.42
|
0.26
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.33 |
0.61
|
0.42
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.01 |
2.25
|
1.65
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.15
|
0.10
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.12 |
5.87
|
5.29
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59 |
1.43
|
1.63
|
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULT:
The company has earned profit of Rs.3.145 Millions compared to Rs.4.412
Millions of last year. In order to conserve the resources, the directors do not
recommend any dividend for the financial year 2010-11.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U52335KA1997PTC022698 |
|
Name of the company
|
PRAKASH RETAIL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Ambalpady Post,
Udupi, Udupi – 576103, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Syndicate Bank,
Catholic Centre, Udupi – 576101, |
|
Nature of
instrument creating charge |
Composite
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
11.10.2010 |
|
Amount secured by
the charge |
Rs.10.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 11.50% p.a. Terms of
Repayment To be operated briskly
to the Extent of limit fixed and bring it to credit at least once in a year
and closed in time by end of one year. Margin 25% Extent and
Operation of the charge Hypothecation/
charge is created on the stock in trade of the company at Ambalpady, Udupi |
|
Short particulars
of the property charged |
Hypothecation/
Charge is created on the stock in trade in the company at Ambalpady, Udupi |
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.49.35 |
|
|
1 |
Rs.78.68 |
|
Euro |
1 |
Rs.65.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
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.