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Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
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Name : |
PREMIER INDUSTRIAL CORPORATION LIMITED |
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Registered
Office : |
501-507, ‘C’ Wing, Bhaveshwar Plaza, 5th Floor, L B S Marg,
Opposite Shreyas Cinema, Ghatkopar (West), Mumbai-400086, Maharashtra |
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Country : |
India |
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Date of Incorporation
: |
08.08.2007 |
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Com. Reg. No.: |
11-172955 |
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Capital
Investment / Paid-up Capital : |
Rs. 83.992 Millions |
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CIN No.: [Company Identification
No.] |
U27101MH2007PLC172955 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Not Available |
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No. of Employees
: |
Information denied to the management |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Mr. Arvind Morzaria, Marketing Executive has confirmed that the
correct name of the subject is ‘Premier Industrial Corporation Limited’, and
it has 3 factories each in Rabale, Taloja and Bhiwani. The corporate office
is located at Vikhroli. He denied to disclose other details. As per Registrar of Companies, the management has failed to file its
financials with the government department for the year 2012. The paid up capital appears to be satisfactory. Business is active.
Payment terms are unknown. The company can be considered for business dealings with some
caution. Note: Due to
technical error in the government sites, we hereby provide you to the report with
available details and we would provide you with a on the same company as soon
as we get the additional information.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
BBB- (Long Term Rating) |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
May 2012 |
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Rating Agency Name |
ICRA |
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Rating |
A3 (Short Term Rating) |
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Rating Explanation |
Moderate degree of safety and higher credit risk. |
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Date |
May 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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.
INFORMATION DECLINED BY
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Name : |
Mr. Arvind Morzaria |
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Designation : |
Marketing Executive |
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Contact No.: |
91-9619902204 |
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Date : |
16.04.2013 |
LOCATIONS
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Registered Office : |
501-507, ‘C’ Wing, Bhaveshwar Plaza, 5th Floor, L B S Marg,
Opposite Shreyas Cinema, Ghatkopar (West), Mumbai-400086, Maharashtra,
India |
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Tel. No.: |
91-22-61514545 |
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Mobile No.: |
91-9619902204 (Mr. Arvind Morzaria) |
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Fax No.: |
91-22-61514555 |
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E-Mail : |
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Corporate Office : |
Located At ·
Vikhroli |
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Factory : |
Located At ·
Rabale ·
Taloja ·
Bhiwandi |
DIRECTORS
Not Divulged
KEY EXECUTIVES
|
Name : |
Mr. Arvind Morzaria |
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Designation : |
Marketing Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Not Available
BUSINESS DETAILS
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Line of Business : |
Not Available |
GENERAL INFORMATION
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No. of Employees : |
Information denied by the management |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital : Rs. 200.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 83.992
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
No |
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7] |
Promoter's background |
No |
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8] |
No. of employees |
No |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact
person |
Yes |
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11] |
Turnover of firm for last
three years |
No |
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12] |
Profitability for last
three years |
No |
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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 |
No |
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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 involved in |
----- |
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23] |
Banking Details |
No |
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24] |
Banking facility details |
No |
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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 |
No |
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28] |
Incorporation details, if
applicable |
Yes |
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29] |
Last accounts filed at
ROC |
No |
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30] |
Major Shareholders, if
available |
No |
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31] |
Date of Birth of Proprietor/Partner/Director,
if available |
No |
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32] |
PAN of
Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
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34] |
External Agency Rating,
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 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. 54.32 |
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|
1 |
Rs. 83.17 |
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Euro |
1 |
Rs. 71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
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|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER |
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
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31 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.