|
Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
PREM CABLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ground Floor, Office No.6, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.09.1964 |
|
|
|
|
Com. Reg. No.: |
17-057316 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.313 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300GJ1964PTC057316 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP6660N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1550000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a good track record.
Financially company appears to be strong. Performance capacity appears to be
high. Liquidity position of the company is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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) |
|
|
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank Facilities :- (CARE)A- |
|
Rating Explanation |
Having adequate degree of safety regarding
timely securing of financial obligations. It carry low credit risk |
|
Date |
December 2011 |
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 : |
Ground Floor, Office No.6, |
|
Tel. No.: |
91-2937-220202/2306307/287244 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Head Office / Factory : |
Pipalia Kalan District, Pali –
Malwar, Pali – 306307, |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Pankaj Parasraj Shah |
|
Designation : |
Director |
|
Address : |
Prem Nagar , C/O PG Foils Limited, Pipalia Kalan, Pali – Marwar, Pali
– 36307, |
|
Date of Birth/Age : |
15.07.1956 |
|
Date of Appointment : |
25.08.1989 |
|
DIN No.: |
00160558 |
|
|
|
|
Name : |
Mr. Abhay Parasraj Shah |
|
Designation : |
Director |
|
Address : |
Prem Nagar , C/O PG Foils Limited, Pipalia Kalan, Pali – Marwar, Pali
– 36307, |
|
Date of Birth/Age : |
17.02.1967 |
|
Date of Appointment : |
25.1.1985 |
|
DIN No.: |
00160590 |
|
|
|
|
Name : |
Mr. Sahil Pankaj Shah |
|
Designation : |
Director |
|
Address : |
Prem Nagar , C/O PG Foils Limited, Pipalia Kalan, Pali – Marwar, Pali
– 36307, |
|
Date of Birth/Age : |
18.03.1985 |
|
Date of Appointment : |
18.03.2006 |
|
DIN No.: |
01603118 |
KEY EXECUTIVES
|
Name : |
Mr. Bharat |
|
Designation : |
Marketing Department |
MAJOR SHAREHOLDERS
AS ON 30.09.2012
|
Names of Shareholders |
No. of Shares |
|
Gudarmal Jugeraj Surana |
14 |
|
Parasmal S/o Shri
Pannalal |
35 |
|
Nila Devi W/o Shri
Paras Raj Shah |
368 |
|
Abhey P. Shah S/o
Shri Paras Raj Shah |
434 |
|
Pankaj P. Shah S/o
Shri Paras Raj Shah, Abhey P. Shah S/o Shri Paras Raj Shah |
183 |
|
Umedmal S/o Shri
Pannalal Singhvi, Suresh Chand S/o Shri Pannalal Singhvi, Aijan Kanwar W/o
Shri Pannalal Singhvi Smt. Ravindra Singhvi W/o Shi Hastimal Singhv |
20 |
|
Atika A Shah W/o
Shri Abhey P Shah |
115 |
|
Kanhaiyalal Samra
S/o Shri Bakhtawarmal Samra |
5 |
|
Manju P Shah W/o
Shri Panakj P Shah |
187 |
|
Kamla Devi Jain
W/o Shri Gudarmal Jain |
35 |
|
Pankaj P. Shah S/o
Shri Paras Raj Shah |
424 |
|
Sahil P. Shah S/o
Shri Pankaj P.Shah |
140 |
|
Prem Krishi
Private Limited |
2140 |
|
|
35 |
|
Prem Nagar
Industrial Estate Company Private Limited |
5 |
|
Navrekha Commo
Trade Private Limited |
50 |
|
Jutex Trade ( |
50 |
|
Festino Agre
Private Limited |
50 |
|
Green Field Techno
Services Private Limited |
25 |
|
Prompt Vanijya
Private Limited |
25 |
|
Intellect Fincon
Private Limited |
25 |
|
M.G.B.Commercial
Private Limited |
25 |
|
Fidelity Marketing
Private Limited |
25 |
|
Deccon Impex
Private Limited |
25 |
|
Plus Jet Finovest
Private Limited |
75 |
|
Nawneet Marketing
Private Limited |
25 |
|
Atma Dealers
Private Limited |
75 |
|
Mupnar Trexim
Private Limited |
25 |
|
Octal Tracon
Private Limited |
100 |
|
Apex Propcon
Private Limited |
100 |
|
Renutrol Dealcomm
Private Limited |
100 |
|
Netscope Dealcom
Private Limited |
85 |
|
Remahay Stores
Private Limited |
90 |
|
Esquire Global
Limited |
2510 |
|
Stheno Global
Limited |
688 |
|
TOTAL
|
8313 |
AS ON 30.09.2012
|
Equity Shares Break
Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
38.47 |
|
Bodies corporate |
37.95 |
|
Directors or relatives of Directors |
22.93 |
|
Other top fifty shareholders |
0.65 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chartered Accountant |
|
Address : |
43, Ghosi Colony, |
|
PAN No.: |
AAFFR9887H |
|
|
|
|
Related Parties : |
·
PG Foils Limited CIN No – L27203GJ1979PLC008050 ·
Foils India Laminates Limited ·
Miracle Carriers and Trading Company ·
Pipalia Engineering Works Private Limited ·
PG Conductor ·
Prem Nagar Industrial Estate ·
Prem Krishi Private Limited
CIN No – U151214RJ1969PTC001272 ·
Paras Raj Bohra Memorial Trust ·
Pipalia Cables and Wires Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000 |
Equity Shares |
Rs.1000/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8313 |
Equity Shares |
Rs.1000/-
each |
Rs.8.313 Millions |
|
|
|
|
|
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 |
8.313 |
8.313 |
5.115 |
|
|
2] Share Application Money |
1.575 |
31.504 |
63.964 |
|
|
3] Reserves & Surplus |
378.843 |
284.605 |
236.126 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
388.731 |
324.422 |
305.205 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
138.562 |
422.326 |
124.722 |
|
|
2] Unsecured Loans |
0.048 |
0.048 |
0.048 |
|
|
TOTAL BORROWING |
138.610 |
422.374 |
124.770 |
|
|
DEFERRED TAX LIABILITIES |
37.487 |
26.163 |
4.832 |
|
|
|
|
|
|
|
|
TOTAL |
564.828 |
772.959 |
434.807 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
165.298 |
198.715 |
29.318 |
|
|
Capital work-in-progress |
0.991 |
9.303 |
8.753 |
|
|
|
|
|
|
|
|
INVESTMENT |
139.046 |
32.204 |
2.078 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
175.647
|
200.967 |
170.505 |
|
|
Sundry Debtors |
452.671
|
554.923 |
351.372 |
|
|
Cash & Bank Balances |
225.156
|
9.232 |
4.498 |
|
|
Other Current Assets |
7.725
|
1.213 |
4.109 |
|
|
Loans & Advances |
189.896
|
160.417 |
160.141 |
|
Total
Current Assets |
1051.095
|
926.752 |
690.625 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
149.862
|
69.869 |
288.431 |
|
|
Other Current Liabilities |
627.997
|
315.385 |
0.723 |
|
|
Provisions |
13.743
|
8.761 |
6.813 |
|
Total
Current Liabilities |
791.602
|
394.015 |
295.967 |
|
|
Net Current Assets |
259.493
|
532.737 |
394.658 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
564.828 |
772.959 |
434.807 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL INCOME
(A) |
3455.987 |
2833.629 |
1114.298 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL EXPENSES
(B) |
3262.474 |
2788.957 |
1091.706 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
193.513 |
44.672 |
22.592 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
61.108 |
25.422 |
6.148 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
132.405 |
19.250 |
16.444 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
53.696 |
7.902 |
3.155 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
78.709 |
11.348 |
13.289 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.396 |
23.631 |
3.268 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
64.313 |
(12.283) |
10.021 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
773.647 |
(147.760) |
1205 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.86
|
(0.43) |
0.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.47
|
1.01 |
1.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.01 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total debt /Networth) |
|
0.36
|
1.30 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
2.35 |
2.33 |
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 |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
----- |
|
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 |
Yes |
Note – Registered
address of the company has been shifted from Pipalia Kalan District, Pali – Malwar, Pali – 306307,
UNSECURED LOAN
DETAIL
|
Particulars |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Loan and Advances from Others |
0.048 |
0.048 |
|
TOTAL |
0.048 |
0.048 |
FORM 8
|
Corporate
identity number of the company |
U31300GJ1964PTC057316
|
|
Name of the
company |
PREM
CABLES PVT LTD |
|
Address of the
registered office or of the principal place of business in |
Ground Floor,
Office No. 6, |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
Barclys
Bank PLC, 801/808, Ceejay House, Shiv Sgar Estate, DR. |
|
Nature of instrument
creating charge |
Deed
of hypothecation dated 07/09/2012 |
|
Date of
instrument Creating the charge |
07.09.2012 |
|
Amount secured by
the charge |
Rs.50.000 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 11.50%
P.A. Payable Monthly In Arrears. Terms of
repayment One
Year Dated 11/09/2013 Margin 50% Extent and
operation of the charge All present
and future moveable properties incl. Moveable plants machinery, spares,
tools, accessories stored factories, premises or warehouse wherever include.
Ipr's and all rights ,titles, interests, benefits, claims, deeds, rental
income, all debts, insurance contacts, present & future goodwill,
know-how demands, all the book debts, o/s monies, receivables, claims &
bills and all shares, scripts, stocks, bonds, debentures, debenture stock,
securities or other marketable securities of the company. |
|
Short particulars
of the property charged (Including location of the property) |
All
present and future moveable properties incl. Moveable plants machinery,
spares, tools, accessories stored factories, premises or warehouse wherever,
include. Ipr's and all rights, titles, interests, benefits, claims, deeds,
rental income, all debts, insurance contacts, present & future goodwill,
know-how demands, all the book debts, o/s monies, receivables, claims &
bills and all shares, scripts, stocks, bonds, debentures, debenture stock,
securities or other marketable securities of the company. |
FIXED ASSETS
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.52.97 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.72.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
HET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
TOTAL |
|
54 |
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.