MIRA
INFORM REPORT
|
Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
PEC LIMITED (w.e.f. 25.11.1997) |
|
|
|
|
Formerly Known
As : |
THE PROJECTS AND EQUIPMENT CORPORATION OF INDIA LIMITED |
|
|
|
|
Registered
Office : |
Hansalaya, 15, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.04.1971 |
|
|
|
|
Com. Reg. No.: |
55-005600 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 600.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1971GOI005600 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELP00390F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACT0101G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of agricultural, industrial and engineering products etc. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 14480000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
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|
|
|
Comments : |
Subject is a public sector undertaking under ministry of Commerce and
Industry, Department of Commerce, Government of India. It is a well-established company having a fine track record. Financial position of the company appears to be healthy. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
Uptick in
agriculture and construction spread some cheer as the economy grew a
higher-than-expected 4.8 % in the three months through September. Manufacturing
rose an annual rate per cent during the quarter and mining fell by 0.4 %,
government data showed while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top three investors
likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
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 PARTED BY
|
Name : |
Mr. Suresh Banka |
|
Designation : |
Senior Accounts Manager |
|
Contact No.: |
91-11-23315507 |
|
Date : |
23.12.2013 |
LOCATIONS
|
Registered/ Head Office : |
Hansalaya, 15, Barakhamba Road, New Delhi - 110001, India |
|
Tel. No.: |
91-11-23313619/ 23316372/ 23316397/ 23315506 |
|
Fax No.: |
91-11-23315279/ 23314797/ 23313664/ 23315506 |
|
E-Mail : |
pec@peclimited.com |
|
Website : |
|
|
|
|
|
Overseas Office: |
Mr. N. G. Nghiem, C/o. Embassy of India 121-122, B-17, Kim
Lien, |
|
Tel. No.: |
91-844-8523475 |
|
Fax No.: |
91-844-8523914 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located At :
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Arun Kumar Mirchandani |
||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||
|
Address : |
C – 52, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
12.09.1957 |
||||||||||||||||||||||||
|
Date of Appointment : |
01.07.2007 |
||||||||||||||||||||||||
|
PAN No.: |
AAAPM0615A |
||||||||||||||||||||||||
|
Voter ID No. : |
DL/02/009/204589 |
||||||||||||||||||||||||
|
DIN No.: |
00359522 |
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|
Other
Directorship:
|
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|
|
||||||||||||||||||||||||
|
Name : |
Mr. Santosh Kumar |
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|
Designation : |
Director |
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|
Address : |
21, ICISA Complex, A-52, Sector-62, Noida, Uttar Pradesh, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
01.07.1972 |
||||||||||||||||||||||||
|
Date of Appointment : |
22.02.2013 |
||||||||||||||||||||||||
|
DIN No.: |
06533523 |
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|
|
|
||||||||||||||||||||||||
|
Name : |
Mrs. Aditi Das Rout |
||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
D-508, Purvasha Anand Lok Society, Mayur Vihar, Phase-I, New Delhi -
110091, |
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|
Date of Birth/Age : |
17.11.1963 |
||||||||||||||||||||||||
|
Date of Appointment : |
30.03.2010 |
||||||||||||||||||||||||
|
DIN No.: |
03049172 |
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|
Other
Directorship:
|
|||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Suresh Banka |
|
Designation : |
Senior Accounts Manager |
|
|
|
|
Name : |
Mr. Ashok Kumar Monga |
|
Designation : |
Secretary |
|
Address : |
WZ 15C, Ugarsain Market, Ashok Nagar, New Delhi-110018, |
|
Date of Birth/Age : |
27.07.1954 |
|
Date of Appointment : |
01.12.1997 |
|
PAN No.: |
AAIPM8172B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
The President of |
|
5999998 |
|
Arun Kumar Mirchandani (as a nominee of the President of India) |
|
1 |
|
Aditi Das Rout (as a nominee of the President of India) |
|
1 |
|
Total |
|
6000000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Government [Central and State] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of agricultural, industrial and engineering
products etc. |
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Products : |
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Exports : |
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Products : |
Finished Gooda |
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Countries : |
· Bangladesh Ghana Srilanka |
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|
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Imports : |
|
||||||||
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Products : |
Steel |
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Countries : |
· China UK USA |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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|
||||||||||||
|
No. of Employees : |
800 (Approximately) |
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|
||||||||||||
|
Bankers : |
· Indian Bank, New Delhi Main Branch, G-41, Connaught Circus, New Delhi – 110001, India Tel. No.: 91-11-25720314 Axis
Bank Limited, 4/10, OPG House, Asaf
Ali Road, New Delhi-110002, India DBS Bank Limited, Upper Ground Floor, Birla Tower, 25, Barakhamba Road, New Delhi
-110001, India United Bank of India, Overseas (Delhi) Branch,
HS-32, Kailash Colony Market, Kailash Colony, New Delhi - 110048, India Syndicate Bank, International Business Branch,
F-40, Connaught Place, New Delhi – 110001, India State
Bank of Travancore, Parliament Street Branch, New Delhi - 110001, India Canara
Bank, B-39, Con. Circus, Overseas Branch, New Delhi – 110001, India |
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|
||||||||||||
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Facilities : |
Note: From DBS Bank (Hypothecated against book debts and stock):1000.000
Millions, From Vijaya Bank (Hypothecated against book debts and
stock):380.000 Millions, From United Bank of India (Secured against Export
documents):860.908 Millions. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J. P., Kapur and Uberai Chartered Accountants |
|
Address: |
Lower Ground Floor, C-4/5, Safdarjung Development Area, New Delhi -110016, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFJ0616B |
|
|
|
|
Associates/Subsidiaries : |
Tea Trading Corpn of India Limited CIN No.: U51226WB1971PLC028174 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs.100/- each |
Rs. 600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs.100/- each |
Rs. 600.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
600.000 |
200.000 |
200.000 |
|
(b) Reserves & Surplus |
3020.387 |
3276.325 |
2655.141 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3620.387 |
3476.325 |
2855.141 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
102.771 |
98.326 |
0.000 |
|
Total Non-current Liabilities (3) |
102.771 |
98.326 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2240.908 |
0.000 |
1940.000 |
|
(b) Trade payables |
42366.971 |
48762.351 |
48271.262 |
|
(c) Other current
liabilities |
5062.877 |
5891.700 |
6097.623 |
|
(d) Short-term provisions |
225.307 |
183.067 |
1327.731 |
|
Total Current Liabilities (4) |
49896.063 |
54837.118 |
57636.616 |
|
|
|
|
|
|
TOTAL |
53619.221 |
58411.769 |
60491.757 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.355 |
8.213 |
8.442 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.001 |
4.001 |
4.000 |
|
(c) Deferred tax assets (net) |
124.956 |
115.129 |
109.937 |
|
(d) Long-term Loan and Advances |
23.734 |
12.332 |
11.195 |
|
(e) Other Non-current assets |
0.902 |
0.701 |
129.320 |
|
Total Non-Current Assets |
160.948 |
140.376 |
262.894 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6922.025 |
8087.877 |
14742.876 |
|
(c) Trade receivables |
34355.553 |
38385.184 |
35685.068 |
|
(d) Cash and cash
equivalents |
3472.121 |
4655.988 |
3120.029 |
|
(e) Short-term loans and
advances |
8518.813 |
6905.629 |
6408.470 |
|
(f) Other current assets |
189.761 |
236.715 |
272.420 |
|
Total Current Assets |
53458.273 |
58271.393 |
60228.863 |
|
|
|
|
|
|
TOTAL |
53619.221 |
58411.769 |
60491.757 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
116490.200 |
110413.530 |
99699.448 |
|
|
|
Other Income |
NA |
NA |
7034.531 |
|
|
|
TOTAL (A) |
NA |
NA |
106733.979 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
105269.975 |
|
|
|
Salary and Allowances |
|
|
266.863 |
|
|
|
Administrative Expenses |
|
|
122.697 |
|
|
|
Payment to Auditors |
|
|
1.406 |
|
|
|
Bad Debts |
|
|
0.000 |
|
|
|
Provision for Doubtful Debts |
|
|
1.753 |
|
|
|
TOTAL (B) |
NA |
NA |
105662.694 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
1071.285 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
1071.285 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
5.637 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ADJUSTMENT |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1130.730 |
1185.330 |
1065.648 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
161.180 |
389.810 |
356.467 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
969.550 |
795.520 |
709.181 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend and Taxes |
175.490 |
174.330 |
174.330 |
|
|
|
Transfer to General Reserves |
544.060 |
|
534.850 |
|
|
|
Transfer to Special Purpose Trading Risk Reserves |
250.00 |
250.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
10759.900 |
10650.422 |
|
|
|
Other Earnings |
|
2.200 |
2.169 |
|
|
TOTAL EARNINGS |
30271.100 |
10762.100 |
10652.591 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
65216.600 |
74865.900 |
85944.918 |
|
|
|
Foreign tours |
6.400 |
5.100 |
3.769 |
|
|
|
Others |
583.400 |
626.400 |
367.616 |
|
|
TOTAL IMPORTS |
65806.400 |
75497.400 |
86316.303 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
161.59 |
397.76 |
354.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
0.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.97
|
1.07
|
1.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.11
|
2.03
|
1.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.34
|
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.62
|
0.00
|
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.074
|
1.06
|
1.04 |
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 |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
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 |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION DETAILS
IN THE HIGH COURT OF DELHI AT NEW DELHI
ARB.P. 489/2012
M/S MOHAN and COMPANY ..... Petitioner
Through: Mr. Ashim Vachher,
Mr. S.M. Hashmi and Mr. Pavash Pityush, Advs.
versus
PEC LIMITED and ANOTHER ..... Respondents
Through: Mr. Rajesh Kr. Gautam, Adv. for R-1.
Mr. Ankit Jain, Adv. for
R-2.
CORAM:
HON'BLE MR. JUSTICE RAJIV SHAKDHER
ORDER
27.11.2013
IA No.17899/2013 (u/O-XXIII R-3, r/w S.151 CPC)
This is a joint application filed by the parties herein under Order
XXIII Rule 3, read with Section 151 of the Code of Civil Procedure,
1908 (in short CPC).
The prayer made in the
application is that the present proceedings be disposed of, as a
settlement, has been recorded in the form of a compromise. The
terms of the settlement arrived at between the parties are reflected in
paragraph 4(a) to 4(j) of the captioned application.
I have perused the terms of the settlement, which are in consonance
with law.
ARB.P. 489/2012 page 1 of 2
The captioned application
bears the signatures of the authorized representatives of both the
petitioner as well as respondent No.1. The application is also accompanied
by an affidavit of one of the partners of the petitioner firm.
In addition, the application is accompanied by affidavits of authorized
representatives of respondent Nos.1 and 2.
Having regard to the above, the application is allowed. The petition is
disposed of. Parties will abide by the terms of the compromise, as
reflected in the captioned application.
ARB.P. 489/2012
In view of the order passed in the application, no further orders are
required to be passed in the petition.
The case be consigned to record.
Dasti under the signatures of the Court Master.
RAJIV SHAKDHER, J
NOVEMBER 27, 2013
s.pal
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10368070 |
06/07/2012 |
1,000,000,000.00 |
DBS BANK LIMITED |
UPPER GROUND FLOOR, BIRLA TOWER, 25, BARAKHAMBA ROAD, NEW DELHI -
110001, INDIA |
B44702108 |
|
2 |
10296122 |
19/02/2013 * |
9,000,000,000.00 |
INDIAN BANK |
NEW DELHI MAIN BRANCH, G-41, CONNAUGHT CIRCUS, NEW DELHI - 110001,
INDIA |
B70292164 |
|
3 |
10225645 |
31/05/2010 |
3,000,000,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE BRANCH, 5 JEEVAN TARA BUILDING, PARLIAMENT STREET,
NEW DELHI - 110001, INDIA |
A88084496 |
|
4 |
10194379 |
22/12/2009 |
500,000,000.00 |
STATE BANK OF INDORE |
COMMERCIAL BRANCH,, M-47, CONNAUGHT CIRCUS, NEW DELHI - 110001, INDIA |
A76487941 |
|
5 |
10148641 |
24/01/2013 * |
7,000,000,000.00 |
UNITED BANK OF INDIA |
OVERSEAS (DELHI) BRANCH, HS-32, KAILASH COLONY MARKET, KAILASH COLONY,
NEW DELHI - 110048, INDIA |
B69164382 |
|
6 |
10123144 |
10/12/2009 * |
7,000,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, CHANDRALOK BUILDING, 36, JANPATH, NEW DELHI -
110001, INDIA |
A75347849 |
|
7 |
10123434 |
01/02/2011 * |
10,000,000,000.00 |
CORPORATION BANK OVERSEAS BRANCH |
M-93,CONNAUGHT CIRCUS, NEW DELHI - 110001, |
B05490198 |
|
8 |
10079211 |
12/02/2008 * |
3,000,000,000.00 |
IDBI LIMITED |
SURYA KIRAN BUILDING, 11TH FLOOR, K. G. MARG, NEW DELHI - 110001,
INDIA |
A35083799 |
|
9 |
10058259 |
24/12/2009 * |
6,040,000,000.00 |
INDIAN OVERSEAS BANK |
7, TOLSTOY MARG, NEW DELHI - 110001, INDIA |
A78008984 |
|
10 |
10013266 |
20/03/2013 * |
5,000,000,000.00 |
STATE BANK OF TRAVANCORE |
PARLIAMENT STREET BRANCH, NEW DELHI - 110001, INDIA |
B72480692 |
|
11 |
80027375 |
24/05/2011 * |
8,000,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES (LARGE CORPORATE) BRANCH, 16, PARLIAMENT
STREET, NEW DELHI - 110001, INDIA |
B14767081 |
|
12 |
90043932 |
10/08/2011 * |
12,000,000,000.00 |
SYNDICATE BANK |
INTERNATIONAL BUSINESS BRANCH, F-40, CONNAUGHT PLACE, NEW DELHI -
110001, INDIA |
B18109199 |
|
13 |
80044476 |
12/01/2010 * |
450,000,000.00 |
SOCIETE GENERALE |
6TH FLOOR, MOHANDEV, 13, TOLSTOY MARG, NEW DELHI - 110001, INDIA |
A77857753 |
|
14 |
90043544 |
12/09/2008 * |
7,900,000,000.00 |
PUNJAB NATIONAL BANK |
ECE HOUSE, K. G. MARG, NEW DELHI - 110001, |
A46506481 |
|
15 |
90043066 |
29/07/2004 * |
750,000,000.00 |
ICICI BANK LTD. |
9A; CONNAUGHT PLACE, NEW DELHI - 110001, INDIA |
- |
|
16 |
90042602 |
01/02/2011 * |
4,000,000,000.00 |
VIJAYA BANK |
17,BARAKHAMBA ROAD, NEW DELHI, NEW DELHI - 110001, INDIA |
B06566046 |
|
17 |
80033630 |
10/03/2004 * |
4,000,000,000.00 |
INDIAN OVERSEAS BANK |
TOLSTOY MARG BRNCH, NEW DELHI - 110001, INDIA |
- |
|
18 |
80033629 |
10/03/2004 * |
4,200,000,000.00 |
INDIAN OVERSEAS BANK |
TOLSTOY MARG BRNCH, NEW DELHI - 110001, INDIA |
- |
|
19 |
90040244 |
04/07/2008 * |
25,000,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH, JAWAHAR VYAPAR BHAWAN, NO. 1, TOLSTOY MARG, NEW DELHI -
110001, INDIA |
A42498402 |
* Date of charge modification
GENERAL INFORMATION
The Company is incorporated and domiciled in India and a public sector undertaking under the administrative control of Ministry of Commerce and Industry, Government of India. The registered office of the Company is “Hansalaya”, 15, Barakhamba Road, New Delhi. The company also has branch offices at various places across India.
The principal activities of the Company are trading of agricultural, industrial and engineering products etc.
The Company's trade activities spans across various countries.
BUSINESS
The company continues to evolve its business with the changing times. PEC has also strengthened its core business in agro commodities, industrial raw material, bullion, engineering and manufactured goods.
Sales turnover for the year grew by 5.5 per cent to Rs.116490.000 millions. However, profit before tax at Rs.1130.730 millions was lower by 4.6 per cent as compared to last year due to write off of bad debt.
While Export turnover during the year tripled over last year, import and domestic sales decreased by 15 and 7.7 per cent respectively.
EXPORTS
Export sales turnover during the year reached Rs.30291.200 millions.
Their agro exports have increased significantly. During the year, PEC exported wheat, rice, soya meal and maize. The major contributor was wheat valued at Rs.21919.000 millions.
PEC executed contracts for supply of line hardware, cables and conductors, insulators, steel wires, etc. to Ethiopia, Kenya, Liberia, Nepal andBhutan.
Other major exports during the year include supply of ferro chrome and billets.
IMPORTS
PEC achieved import turnover of Rs.69605.090 millionS during the year. Coal and coke, manganese and iron ore, steel scraps and coils, bullion and diamonds were major items of import during the year. Major agro import during the year were edible oils, pulses, peas and corn.
AWARDS AND
RECOGNITION
In 2012-13, they received Award for Export Excellence for 2010-11 by Engineering Export Promotion Council (Northern Region).
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012s (Rs.
In Millions) |
|
(i) Guarantees issued by banks on behalf of the Company |
14.574 |
57.883 |
|
(ii)Letters of Credits opened with banks (As certified by banks and management) |
285.569 |
421.345 |
|
(iii) Bill Discounting under Local L/Cs |
28.256 |
21.070 |
|
|
|
|
|
Claims against the Company due to legal cases not acknowledged as Debts (excluding legal cases where amounts are unascertainable) |
14.018 |
10.279 |
|
|
|
|
|
Demands in respect of Statutory Liabilities against which the Company or the concerned Department has preferred an Appeal |
0.552 |
0.542 |
|
Total |
342.969 |
511.119 |
FIXED ASSETS
v
Tangible
Assets
Buildings
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
equipments
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.61.87 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
58 |
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.