MIRA
INFORM REPORT
|
Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PHOTON POLYTECH PRIVATE LIMITED |
|
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Registered
Office : |
100/9, G.T. Road (West), Rishra – 712 248, West Bengal |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
30.07.2010 |
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Com. Reg. No.: |
21-151861 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.0.450
Million |
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|
|
CIN No.: [Company Identification
No.] |
U25209WB2010PTC151861 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALP10185A |
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|
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PAN No.: [Permanent Account No.] |
AAFCP6430K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Spare Parts of Components for Textile Machinery. |
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No. of Employees
: |
6 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3000 |
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|
Status : |
Small Company |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. It’s scale of activities are limited. The performance of the company is improving gradually over previous
year. Trade relations are fair. Business is active. Payments terms are
reported as slow but correct. The company can be considered normal for 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 – 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 |
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. Keshav Prasad Jalan |
|
Designation : |
Director |
|
Contact No.: |
91-9830028568 |
|
Date : |
28.06.2013 |
LOCATIONS
|
Registered Office : |
100/9, G.T. Road (West), Rishra – 712 248, West Bengal, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9830028568 (Mr. Keshav Prasad Jalan) |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
|
|
Area : |
9000 sq. ft. |
|
Location : |
Rented |
|
|
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|
City Office: |
Strand Road, 6th Floor, Room No.41, Kolkata – 700 001, West
Bengal, India |
|
Tel No.: |
91-33-22433732/ 22103339 |
|
Fax No.: |
91-33-22103339 |
|
Area : |
100 sq. ft. |
|
Location : |
Rented |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Keshav Prasad Jalan |
|
Designation : |
Director |
|
Address : |
30/A/110, Dr. P.T. Laha Street, Rishra, Hooghly – 712 248, West
Bengal, India |
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Date of Birth/Age : |
04.08.1951 |
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Date of Appointment : |
30.07.2010 |
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DIN No.: |
03105396 |
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|
|
|
Name : |
Mr. Prashant Jalan |
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Designation : |
Director |
|
Address : |
30/A/110, Dr. P.T. Laha Street, Rishra, Hooghly – 712 248, West
Bengal, India |
|
Date of Birth/Age : |
03.05.1985 |
|
Date of Appointment : |
30.07.2010 |
|
DIN No.: |
03109706 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Keshav Prasad Jalan |
|
5000 |
|
Prashant Jalan |
|
5000 |
|
K.P. Jalan (HUF) |
|
30000 |
|
Amita Jalan |
|
5000 |
|
Total
|
|
45000 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Spare Parts of Components for Textile Machinery. |
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|
|
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|
· Winding Spares: Pistons, Studs, Levers, Handles, Adapters, Cylinder Sleeves, Rings, Brake Linings, Discs, Brake Rings, Magnet Rings, Opener Arms, Load Bearing Rings, Plates, Accessories for Disc Assemblies, Control Levers, Gaskets, Scissors Housings, Coupling Gears, Toothed Wheels, Gaskets for Worsted Auto Coner, Slide Bushes, Flanges, Cylinders, Tube Clamps, Cone Holders, Shafts and Bushes, Caps, Electro Magnets, Screws, Hollow Shafts, Fittings, Nozzles, Wax Shafts, Pressure Forks, Joints, Tubes, Cam Pieces, Yarn Tensioners, Rubber Sleeves, Ceramics, Washers, Thread Guides, Dragging Units, Racks, Covers, Introducers, Spacers and Introducers, Push Buttons, Push Button Covers, Brackets for Magnet, Pulleys, Tubes, Hubs, Cam, Cycle Shaft Gears, Magazine Bushes, Magazine Base Covers, Nozzles, Trolley Wheels, Rollers and Pins for Levers, Springs, Tie Rods, Bushes for Orion, Waxing Shafts for Orion, Gripper Arm Covers (Orion), Cutters for Peyer, Cutters for Uster, Cutters for Loepfe, etc. · Ring Frames: Knee Brakes - Zinser, Grippers for Zinser, Knee Brakes, Holding Rod CPL 06534 - Zinser, Grippers for Howa, etc. · Miscellaneous Spares: Pegs, Condensers for MTS, Floating Condensers, Spares for Under Clearer Fl - 16, Suction Pipe Holders, Sensor Sockets for TFO, etc. |
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Terms : |
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Selling : |
Cash and Credit |
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|
|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
6 (Approximately) |
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|
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Bankers : |
Standard Chartered Bank, N.S. Road Branch, Kolkata, West Bengal, India
|
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Facilities : |
-- |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Manish Saraogi and Company Chartered Accountants |
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Address : |
201-B, Mahatma Gandhi Road, 2nd Floor, Kolkata – 700 007,
West Bengal, India |
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Tel. No.: |
91-33-22686129 |
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Mobile No.: |
91-9883233428 |
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E-Mail : |
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PAN No.: |
AKLPS3275N |
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|
Associates : |
·
Prasant Industries ·
Jalan Marketing |
CAPITAL STRUCTURE
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
45000 |
Equity Shares |
Rs.10/- each |
Rs.0.450
Million |
|
|
|
|
|
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 |
|
0.450 |
0.400 |
|
(b) Reserves & Surplus |
|
0.202 |
(0.084) |
|
(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) |
|
0.652 |
0.316 |
|
|
|
|
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(3) Non-Current
Liabilities |
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|
|
|
(a) Long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.014 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.014 |
0.000 |
|
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|
|
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|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1.700 |
0.000 |
|
(b)
Trade payables |
|
0.000 |
0.000 |
|
(c)
Other current liabilities |
|
1.028 |
0.009 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
|
2.728 |
0.009 |
|
|
|
|
|
|
TOTAL |
|
3.394 |
0.325 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
0.695 |
0.060 |
|
(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 |
|
0.695 |
0.060 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.560 |
0.000 |
|
(c)
Trade receivables |
|
1.057 |
0.000 |
|
(d) Cash
and cash equivalents |
|
0.733 |
0.263 |
|
(e)
Short-term loans and advances |
|
0.349 |
0.002 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
2.699 |
0.265 |
|
|
|
|
|
|
TOTAL |
|
3.394 |
0.325 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
5.547 |
0.071 |
|
|
|
Other Income |
|
0.000 |
0.017 |
|
|
|
TOTAL |
|
5.547 |
0.088 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
|
|
0.069 |
|
|
|
Auditor Remuneration |
|
|
0.002 |
|
|
|
Business Promotion Expenses |
|
|
0.005 |
|
|
|
Electricity Charges |
|
|
0.000 |
|
|
|
Filing Fee |
|
|
0.000 |
|
|
|
Office Rent |
|
|
0.001 |
|
|
|
Salary |
|
|
0.027 |
|
|
|
Legal and Professional Fees |
|
|
0.006 |
|
|
|
Printing and Stationary |
|
|
0.000 |
|
|
|
Professional Tax |
|
|
0.003 |
|
|
|
Rates and Taxes |
|
|
0.003 |
|
|
|
Preliminary Expenses W/off |
|
|
0.011 |
|
|
|
TOTAL |
|
5.082 |
0.127 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.465 |
(0.039) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.085 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX |
|
0.380 |
(0.039) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.105 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
0.275 |
(0.039) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
6.11 |
(0.98) |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
10.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.12.000 Millions
The above information has been parted by Mr. K.P. Jalan (Director)
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
4.96 |
(44.32) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
6.85 |
(54.93) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
11.20 |
(12.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.58 |
(0.12) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
2.61 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.99 |
29.44 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 two years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
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 |
No |
|
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 |
|
Unsecured Loan |
As
on 31.03.2012 (Rs.
in Millions) |
As
on 31.03.2011 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
From Related Parties |
1.700 |
0.000 |
|
Total
|
1.700 |
0.000 |
FIXED ASSETS:
·
Plant and Machinery
·
Computer
·
Moulds
·
Pump Set
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.59.90 |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.