MIRA
INFORM REPORT
|
Report Date : |
24.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
PAURAV COLOURANTS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
PAURAV PLASTICS AND CHEMICALS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
219,Gala Complex, Gala Industrial Estate, Dindayal Upadhay
Marg,Dumping Road, Mulund (West), Mumbai – 400080, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
22.01.1990 |
|
|
|
|
Com. Reg. No.: |
11-055152 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs. 0.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1990PTC055152 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Not Available |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Company closed down its operation |
|
|
|
|
Payment Behaviour : |
-- |
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|
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Litigation : |
-- |
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Comments : |
Mr. Bharat Lakhani, Director confirmed that the subject was engaged in the business of manufacturing plastics and dyes but during the year 2009 the company closed down its operations. Since that the company’s registered office which is located at 219, Gala Complex, Gala Industrial Estate, Dindayal Upadhay Marg, Dumping Road, Mulund (West), has been given on rental basis and the company earns its income from the rent which is received. As a company has closed its operation it cannot be
considered for business dealings. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office : |
219,Gala Complex, Gala Industrial Estate, Dindayal Upadhay
Marg,Dumping Road, Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Tel. No.: |
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|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Location : |
Leased |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Bharat Shantilal Lakhani |
|
Designation : |
Director |
|
Address : |
E-7, Konark Indraprasth Jain Temple Road, Nahur Village, Mulund
(West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
18.10.1953 |
|
Date of Appointment : |
22.01.1990 |
|
DIN No.: |
00330734 |
|
|
|
|
Name : |
Mr. Shantilal Rugnath Lakhani |
|
Designation : |
Director |
|
Address : |
B-15/16, Neelkanth Tirth, Zaver Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Date of Birth/Age : |
22.08.1928 |
|
Date of Appointment : |
22.01.1990 |
|
DIN No.: |
00330809 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Lakhani Shantilal Hasumat |
|
350 |
|
Lakhani Shantilal Dilip |
|
500 |
|
Lakhani Shantilal Bharat |
|
500 |
|
Lakhani Rughnath Shantilal |
|
400 |
|
Lakhani Shantilal Ketan |
|
500 |
|
Lakhani Bharat Asha |
|
325 |
|
Lakhani Dilip Mita |
|
325 |
|
Paurav Enterprises, India |
|
100 |
|
Total |
|
3000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Not Available |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
|
Bankers : |
The Shamrao Vithal Co-Operative Bank Limited, G-1,6,7,8, Ganesh Kripa, RHB Road, Mulund (West), Mumbai - 400080, Maharashtra, India |
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|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Shaparia and Mehta Chartered Accountants |
|
Address : |
1/74 , Krishna Kunj, R.A Kidwai Road, King's Circle, Matunga (C.Rly)
Mumbai – 400019, Maharashtra, India |
|
Tel. No.: |
91-22-24098905 / 06 / 07 / 08 |
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E-Mail : |
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PAN.: |
AABFS3325N |
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Associates : |
Lakhani Dyestuffs Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000 |
Equity Shares |
Rs.100/-
each |
Rs.0.300
Million |
|
|
|
|
|
Reconciliation of the number of shares and amount outstanding at the
beginning and at the end of the reporting period:
|
Particular |
No. of Share |
Rs. In Millions |
|
Opening Balance |
3,000 |
0.300 |
|
Closing Balance |
3,000 |
0.300 |
Details of share held by each shareholder holding more than 5% Shares:
|
Name of Shareholder |
Number of shares
held |
% holding in
that class of shares |
|
Hasumat Lakhani |
0 |
0.00% |
|
Dilip Lakhani |
500 |
16.67% |
|
Bharat S Lakhani |
500 |
16.67% |
|
Shabtilal R Lakhani |
750 |
25.00% |
|
Ketan S Lakhani |
500 |
16.67% |
|
Asha B Lakhani |
325 |
10.83% |
|
Mita D Lakhani |
325 |
10.83% |
|
Paurav Enterprises |
100 |
3.33% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.300 |
0.300 |
0.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
17.846 |
16.605 |
15.591 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18.146 |
16.905 |
15.891 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1.190 |
1.190 |
0.165 |
|
|
TOTAL BORROWING |
1.190 |
1.190 |
0.165 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.336 |
18.095 |
16.056 |
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|
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|
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|
APPLICATION OF FUNDS |
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|
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|
|
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FIXED ASSETS [Net Block] |
7.193 |
8.430 |
9.929 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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|
INVESTMENT |
5.069 |
5.069 |
5.069 |
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|
DEFERREX TAX ASSETS |
0.207 |
0.156 |
0.073 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.232
|
0.211 |
0.440 |
|
|
Cash & Bank Balances |
0.283
|
0.430 |
0.526 |
|
|
Other Current Assets |
0.264
|
0.296 |
0.000 |
|
|
Loans & Advances |
6.616
|
3.767 |
11.324 |
|
Total
Current Assets |
7.395
|
4.704 |
12.290 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.087 |
|
|
Other Current Liabilities |
0.032
|
0.027 |
1.000 |
|
|
Provisions |
0.496
|
0.237 |
10.218 |
|
Total
Current Liabilities |
0.528
|
0.264 |
11.305 |
|
|
Net Current Assets |
6.867
|
4.440 |
0.985 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.336 |
18.095 |
16.056 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
NA |
2.834 |
NA |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
2.834 |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
NA |
0.269 |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
0.269 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.645 |
2.565 |
(0.279) |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
1.237 |
1.499 |
1.824 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
1.408 |
1.066 |
(2.103) |
|
|
|
|
|
|
|
|
|
|
TAX |
0.166 |
0.051 |
0.125 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1.242 |
1.015 |
(2.228) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.606 |
15.591 |
17.569 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
17.848 |
16.606 |
15..591 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
413.93 |
338.15 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
35.82 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.65
|
8.12 |
(9.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.06 |
(0.13) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.07
|
0.07 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.01
|
17.82 |
1.09 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
6] |
Line of Business |
No |
|
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 one year |
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 |
Yes |
|
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS /
ACTIVITIES :
The performance of the Company for the year has been satisfactory. During the year, due to a full in the industry, the company has not been able to undertake any labour / job contract and hence, the premises (along with machinery) has been leased out on a rental basis.
BACKGROUND
Subject is a Company registered under the Companies Act, 1956. It was incorporated on 22nd January, 1990. The Company is engaged in the business of Labour jobs of Dyes. During the year, the company has leased out Its premises (along with machinery) on a rental basis.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowing |
|
|
|
Deposits |
1.000 |
1.000 |
|
Short Term
Borrowing |
|
|
|
Loan from Bharat Lakhani |
0.190 |
0.190 |
|
Total |
1.190 |
1.190 |
FIXED ASSETS
· Factory Building
· Air Conditioner
· Electrical Fitting
· Transformer
· Office Equipment
· UPS
· Camera
· Water Purifier
· Furniture and Fixtures
· Laboratory Equipment
· Plant and Machinery
· Fire Extinguisher
· Motor Car
· Computer
· Leasehold Land
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 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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.