MIRA INFORM REPORT
|
Report Date : |
01.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRIYANKA COMMUNICATIONS INDIA PRIVATE LIMITED (w.e.f. 26.03.2004) |
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|
|
|
Formerly Known
As : |
MANISH ENGINEERING CONSTRUCTIONS PRIVATE LIMITED |
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Registered
Office : |
143, Oshiwara Inddustrial Centre, Opposite Oshiwara Bus Depot, Goregaon (West), Mumbai
- 400104, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
13.09.1995 |
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Com. Reg. No.: |
11-092649 |
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Capital
Investment / Paid-up Capital : |
Rs.10.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH1995PTC092649 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM14654D / MUMP19174B |
|
|
|
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PAN No.: [Permanent Account No.] |
AABCM4898C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Marketing of mobile handsets. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 272400 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. There
appears drastic fall in its sales and incurred some loss during 2012. The profit margin appears to be low. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 : |
Ms. Mala |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66780500 |
|
Date : |
29.06.2013 |
LOCATIONS
|
Registered Office : |
143, Oshiwara Inddustrial Centre, Opposite Oshiwara Bus Depot, Goregaon (West), Mumbai
- 400104, |
|
Tel. No.: |
91-22-66780500 |
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Fax No.: |
91-22-66780594 |
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E-Mail : |
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Website : |
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Corporate Office : |
S - 4, Woodrose Building, Lokhandwala Complex, Opposite Oshiwara, New
Link Road, Andheri, Mumbai - 400104, Maharashtra, India |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Manish Agarwal |
|
Designation : |
Managing Director |
|
Address : |
1101/1A, Green Acres, Lokhandwala Complex, Andheri (West), Mumbai –
400053, |
|
Date of Birth/Age : |
14.10.1971 |
|
Date of Appointment : |
26.03.2004 |
|
PAN No. : |
ABDPA0123G |
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DIN No. : |
00002865 |
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|
|
|
Name : |
Mr. Mahesh Chandra Agarwal |
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Designation : |
Director |
|
Address : |
1101/1A, Green Acres, Lokhandwala Complex, Andheri (West), Mumbai –
400053, |
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Date of Birth/Age : |
19.01.1945 |
|
Date of Appointment : |
26.03.2004 |
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PAN No. : |
ABDPA0146R |
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DIN No. : |
00002868 |
KEY EXECUTIVES
|
Name : |
Ms. Mala |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Mahesh Chandra Agarwal |
52980 |
|
Manish Agarwal |
71010 |
|
Meera Agrawal |
18010 |
|
|
|
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Total |
142000 |
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 : |
Marketing of mobile handsets. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M.M. Agarwal and Company Chartered Accountants |
|
Address : |
2, Jagannath puri, |
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PAN No. : |
AAVPA3237ES |
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|
|
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Associate : |
CIN No. : U72900MH2008PTC183452 |
CAPITAL STRUCTURE
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
142000 |
Equity Shares |
Rs.100/- each |
Rs.14.200 Millions |
|
|
|
|
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As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
101000 |
Equity Shares |
Rs.100/- each |
Rs.10.100 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.100 |
10.100 |
|
(b) Reserves & Surplus |
|
58.021 |
59.262 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
68.121 |
69.362 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
23.209 |
27.939 |
|
(b) Deferred tax liabilities (Net) |
|
5.528 |
4.141 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
28.737 |
32.080 |
|
. |
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
126.588 |
232.868 |
|
(b) Trade payables |
|
6.711 |
17.820 |
|
(c) Other current liabilities |
|
1.030 |
1.588 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
134.329 |
252.276 |
|
|
|
|
|
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TOTAL |
|
231.187 |
353.718 |
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|
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
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(i) Tangible assets |
|
52.697 |
52.536 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
52.697 |
52.536 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
127.184 |
203.908 |
|
(c) Trade receivables |
|
41.027 |
76.593 |
|
(d) Cash and cash
equivalents |
|
0.418 |
7.896 |
|
(e) Short-term loans
and advances |
|
8.949 |
9.040 |
|
(f) Other current
assets |
|
0.912 |
3.745 |
|
Total Current Assets |
|
178.490 |
301.182 |
|
|
|
|
|
|
TOTAL |
|
231.187 |
353.718 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
56.273 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
66.373 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
87.476 |
|
|
2] Unsecured Loans |
|
|
0.001 |
|
|
TOTAL BORROWING |
|
|
87.477 |
|
|
DEFERRED TAX LIABILITIES |
|
|
3.560 |
|
|
|
|
|
|
|
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TOTAL |
|
|
157.410 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
47.856 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
50.616 |
|
|
Sundry Debtors |
|
|
53.702 |
|
|
Cash & Bank Balances |
|
|
0.240 |
|
|
Other Current Assets |
|
|
3.351 |
|
|
Loans & Advances |
|
|
1.900 |
|
Total
Current Assets |
|
|
109.809 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.255 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.255 |
|
|
Net Current Assets |
|
|
109.554 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
157.410 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1580.500 |
1916.900 |
|
|
|
|
Other Income |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
1163.423 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
1162.851 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
NA |
0.572 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
0.177 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
(1.241) |
2.989 |
0.395 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
0.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
0.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
0.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.20
|
3.76 |
1.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.19 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
Sundry Creditors |
6.711 |
17.820 |
0.000 |
|
|
|
|
|
|
Total |
6.711
|
17.820 |
0.000 |
|
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 year |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
NOTE: The Registered Address of the company has been shifted
from S – 4,
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
|
|
|
|
Loans and advances from related parties |
3.768 |
1.151 |
|
|
|
|
|
Total |
3.768 |
1.151 |
FINANCIAL RESULTS:
There was
significant fall in the turnover of the company and as a result of which there
is considerable fall in net profit during the last year. Company has sales of Rs.
1580.500 millions as compared to Rs. 1916.900 millions in the previous year.
With changing economic environment, the company would regain its market.
OPERATIONS:
There is decrease
in the turnover of the company. Profits for the year have also converted to
loss correspondingly. The company is looking for divergent market and hopes to
increase the turnover in coming period. Company has taken steps to cut costs
also. Looking to the scope for the products of the company in market, Directors
hope that the company would be able to post sustained growth in coming period.
FIXED ASSETS:
- Building
- Car
- Delivery Vans
- Computer
- Software
- Furniture
- Office
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.59.70 |
|
|
1 |
Rs.91.14 |
|
Euro |
1 |
Rs.77.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
33 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.