MIRA INFORM REPORT
|
Report Date : |
27.06.2013 |
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, Barakhamba Road, New Delhi - 110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.04.1971 |
|
|
|
|
Com. Reg. No.: |
55-005600 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 200.000 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
: |
The company engaged in Exports, Imports, Deemed Exports,
Third Country Trading, Arranging Financing, Logistics, Project Exports and
Management. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 14000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 |
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 DECLINED
Management non – Cooperative (91-11-23313619)
LOCATIONS
|
Registered Office / 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 : |
|
|
Telex : |
31-65256 and 65199 PEC-in |
|
|
|
|
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 28.09.2012
|
Name : |
Mr. Arun Kumar Mirchandi |
||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||
|
Address : |
C – 52, |
||||||||||||||||||
|
Date of Birth/Age : |
12.09.1957 |
||||||||||||||||||
|
Date of Appointment : |
01.07.2007 |
||||||||||||||||||
|
PAN No.: |
AAAPM0615A |
||||||||||||||||||
|
Election Commission Identity Card No.: |
DL/02/009/204589 |
||||||||||||||||||
|
DIN No.: |
00359522 |
||||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Ravi Kumar |
||||||||||||||||||
|
Designation : |
Whole – time Director |
||||||||||||||||||
|
Address : |
C-11, Dronocharya Appartments, Mayur Vihar Phase-I, Extn.
Delhi-110095, |
||||||||||||||||||
|
Date of Birth/Age : |
30.06.1960 |
||||||||||||||||||
|
Date of Appointment : |
01.10.2008 |
||||||||||||||||||
|
PAN No.: |
AAAPK2115L |
||||||||||||||||||
|
DIN No.: |
02339639 |
||||||||||||||||||
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1971GOI005600 |
PEC
LIMITED |
Whole-time
director |
01/10/2008 |
01/10/2008 |
Active |
NO |
|
2 |
U74899DL1995NPL067008 |
NATIONAL
CENTRE FOR TRADE INFORMATION |
Director |
25/11/2009 |
25/11/2009 |
Active |
NO |
|
Name : |
Mrs. Aditi Das Rout |
|
Designation : |
Director |
|
Address : |
D-508, Purvasha Anand Lok Society, Mayur Vihar, Phase-I,
Delhi-110091, |
|
Date of Birth/Age : |
17.11.1963 |
|
Date of Appointment : |
30.03.2010 |
|
DIN No.: |
03049172 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1971GOI005600 |
PEC LIMITED |
Director |
30/03/2010 |
30/03/2010 |
Active |
NO |
|
2 |
U85110KA1982GOI005013 |
STCL
LIMITED |
Director |
30/03/2010 |
30/03/2010 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Kumar Monga |
|
Designation : |
Secretary |
|
Address : |
WZ 15C, Ugarsain Market, Ashok Nagar, Delhi-110018, |
|
Date of Birth/Age : |
27.07.1954 |
|
Date of Appointment : |
01.12.1997 |
|
PAN No.: |
AAIPM8172B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
|
|
|
The President of |
1999998 |
|
A. K. Mirchandani, CMD, PEC (as a nominee of the President of India) |
1 |
|
Aditi Das Rout, Director, MOC (as a nominee of the President of India) |
1 |
|
Total |
2000000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Government (Central and State) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company engaged in Exports, Imports, Deemed Exports,
Third Country Trading, Arranging Financing, Logistics, Project Exports and
Management. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Samsand and Associates Chartered Accountants |
|
Address: |
4800/247, |
|
Tel No.: |
91-11-23264383 |
|
Mobile No.: |
91-9312238484 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFG3353J |
|
|
|
|
Subsidiaries : |
Tea Trading Corporation Of India Limited, India CIN: U51226WB1971PLC028174 |
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital : Rs.600.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.600.000
Millions
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.100/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.100/-
each |
Rs.200.000
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 |
|
200.000 |
200.000 |
|
(b) Reserves & Surplus |
|
3276.325 |
2655.141 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
0 |
0 |
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
3476.325 |
2855.141 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
1940.000 |
|
(b) Trade
payables |
|
48762.351 |
48271.262 |
|
(c) Other
current liabilities |
|
5998.760 |
6097.623 |
|
(d) Short-term
provisions |
|
1719.181 |
1327.731 |
|
Total Current
Liabilities (4) |
|
56480.292 |
57636.616 |
|
|
|
|
|
|
TOTAL |
|
59956.617 |
60491.757 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
8.213 |
8.442 |
|
(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 |
|
4.001 |
4.000 |
|
(c) Deferred tax assets (net) |
|
115.129 |
109.937 |
|
(d) Long-term Loan and Advances |
|
12.332 |
11.195 |
|
(e) Other
Non-current assets |
|
321.507 |
129.320 |
|
Total Non-Current
Assets |
|
461.182 |
262.894 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
8087.877 |
14742.876 |
|
(c) Trade
receivables |
|
38102.609 |
35685.068 |
|
(d) Cash
and cash equivalents |
|
4656.714 |
3120.029 |
|
(e)
Short-term loans and advances |
|
8450.476 |
6408.470 |
|
(f) Other
current assets |
|
197.759 |
272.420 |
|
Total
Current Assets |
|
59495.435 |
60228.863 |
|
|
|
|
|
|
TOTAL |
|
59956.617 |
60491.757 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
200.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2120.294 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2320.294 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
680.000 |
|
|
2] Unsecured Loans |
|
|
1600.000 |
|
|
TOTAL BORROWING |
|
|
2280.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4600.294 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
10.117 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
4.001 |
|
|
DEFERREX TAX ASSETS |
|
|
106.482 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
8873.681
|
|
|
Sundry Debtors |
|
|
30810.238
|
|
|
Cash & Bank Balances |
|
|
3238.289
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
12178.779
|
|
Total
Current Assets |
|
|
55100.987
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
45270.019
|
|
|
Other Current Liabilities |
|
|
5098.152
|
|
|
Provisions |
|
|
253.122
|
|
Total
Current Liabilities |
|
|
50621.293
|
|
|
Net Current Assets |
|
|
4479.694
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4600.294 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
110262.680 |
99699.448 |
110259.390 |
|
|
|
Other Income |
NA |
7034.531 |
6648.494 |
|
|
|
TOTAL (A) |
NA |
106733.979 |
116907.884 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
105269.975 |
115452.418 |
|
|
|
Salary and Allowances |
|
266.863 |
200.801 |
|
|
|
Administrative Expenses |
NA |
122.697 |
97.128 |
|
|
|
Payment to Auditors |
|
1.406 |
1.104 |
|
|
|
Bad Debts |
|
0.000 |
12.692 |
|
|
|
Provision for Doubtful Debts |
|
1.753 |
108.521 |
|
|
|
TOTAL (B) |
NA |
105662.694 |
115872.664 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
1071.285 |
1035.220 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
1071.285 |
1035.220 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
5.637 |
5.657 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ADJUSTMENT |
NA |
0.000 |
(0.656) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1185.330 |
1065.648 |
1028.904 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
389.820 |
356.467 |
351.736 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
795.510 |
709.181 |
677.168 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
Proposed
dividend and tax |
174.330 |
174.330 |
163.7900 |
|
|
|
Transfer to
Reserves |
621.180 |
534.850 |
531.380 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
10759.900 |
10650.422 |
11058.247 |
|
|
|
Other Earnings |
2.200 |
2.169 |
0.000 |
|
|
TOTAL EARNINGS |
10762.100 |
10652.591 |
11058.247 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
74865.900 |
85944.918 |
85506.570 |
|
|
|
Foreign tours |
5.100 |
3.769 |
2.860 |
|
|
|
Others |
626.400 |
367.616 |
613.519 |
|
|
TOTAL IMPORTS |
75497.400 |
86316.303 |
86122.949 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
397.76 |
354.59 |
338.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
0.66 |
0.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.08
|
1.07 |
0.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.98
|
1.76 |
1.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.37 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.68 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.04 |
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 |
Yes |
|
6] |
Line of Business |
Yes |
|
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
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
FINANCIAL RESULTS
The Company achieved sales turnover of Rs.110262.680 millions in FY
2011-12 compared to Rs.99699.450 millions in past year, an increase of 11%.
Consequently, the Profit before tax increased to Rs.1185.330 millions from
Rs.1065.650 millions, an increase of 11%. The Profit after tax increased to
Rs.795.510 millions as compared to Rs.709.180 millions for the previous year,
recording an increase of 12 %.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
0.000 |
600.000 |
|
|
|
|
|
Total |
0.000 |
600.000 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74899DL1971GOI005600 |
|
Name of the
company |
PEC LIMITED |
|
Address of the
registered office or of the principal place of business in |
Hansalaya 15, E-mail id :
ashokmonga@peclimited.com |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10013266 |
|
Type of charge |
·
Book debts ·
First Pari
Passu Charge Over Stock and Book Debts |
|
Particular of charge
holder |
CIN: U74899DL1971GOI005600 State Bank of Travancore, Parliament Street Branch, New Delhi,
India Email: parliament@sbt.co.in |
|
Nature of
instrument creating charge |
Supplemental
agreement of hypothecation of goods and assets for increase in the overall
working capital limit. |
|
Date of
instrument Creating the charge |
20.03.2013 |
|
Amount secured by
the charge |
Rs.5000.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Terms of
Repayment Payable on
demand. Extent and
Operation of the charge Pari passu
charge. Others The above is to
secure ltter of credit limit with buyers credit limit of Rs. 5000.000
Millions within the lc limit of Rs. 5000.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation way
of pari passu first charge over the stocks / book debts of the company along
with wc lenders. |
|
Date of
instrument modifying the charge |
27.01.2010 |
|
Particulars of
the present modification |
Bank's first pari
passu charge over all present and future stocks and book debts of the company
along with wc lenders, already registered for Rs. 3000.000 Millions shall
stand enhanced to Rs. 5000.000 Millions. |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
(i) Guarantees issued by banks on behalf of
PEC |
5788.300 |
1163.947 |
|
(ii) Letters of Credits opened by banks (As
certified by Banks and Management) |
42134.511 |
45229.794 |
|
(iii) Bill Discounting under Local L/Cs |
2107.042 |
3134.622 |
|
Claims against the company not acknowledged
as Debts due to legal Cases (excluding legal cases where amounts
are unascertainable) |
1027.871 |
685.297 |
|
Statutory Claims against the company in
respect of the Departmental revenue for which the company/or the Department
has preferred an Appeal |
54.225 |
48.849 |
FIXED ASSETS
Tangible assets
- Buildings
- Residential
building
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Office
equipment
- Computer
equipments
- Other
equipments
AS PER WEBSITE DETAILS
COMPANY OVERVIEW
Subject was incorporated in April, 1971 in New Delhi, India. It is a public sector undertaking under Ministry of Commerce and Industry, Department of Commerce, Government of India. The company's primary business thrusts are in exports, imports, deemed exports, third country trading, arranging financing, logistics, project exports and management.
Subject, over last
three decades, has expanded its role to become an international business
organizer and a provider of integrated trade facilitating services. Through its
diversification activities since early nineties, it has emerged as a positive
force for the exchange of commodities, goods and services between India and the
nations of the world. PEC as a trading company is both initiator and
intermediary, developer as well as facilitator for global trade.
PEC’s
comprehensive, global commercial services is balanced by their readiness to
listen to the individual client and tailor their services to his needs. Each of
their people is familiar with the local market he or she covers and have a deep
appreciation for the differences in regional flavor, national character and
prevailing situations.
Their client
services are geared to two objectives: conducting international transactions
and developing whole new business ventures that will contribute to India’s trade.
PEC brings buyers
and sellers from India and countries around the globe together on the common
ground of mutually profitable trade.
Their acquired
expertise and up-to-date information are unerring guides to rich market
opportunities. Their skills in negotiation have been tested and refined over
years in various marketplaces around the world. They can arrange for the funds
required for financing a transaction and the logistics of transporting goods to
their destinations.
Three decades in
international trade has taught us how rapidly and radically global trade flows
can shift. They follow and interpret these changes for their clients’ benefit
and also take an active part in directing the change.
PEC knows that, as
there is no routine in the complex and volatile global market, there is no
profit in simple textbook solutions. To be sure, the basic forms of trade, such
as export, import and counter-trade, are immutable. But, with the entire world
a marketplace, these basic forms support limitless opportunities for profitable
commerce.
They also know
that capitalizing on the dynamics of international takes a global outlook,
openness to the possibilities of the unexpected and to try a fresh approach.
PEC thus offers an
unmatched wealth of experience, skills and product knowledge. But they hold
equally important their creative ability to select and adapt their resources to
meet the particular needs of each client as well as the current realities of
the market.
Their clients can
make use of their resources and expertise at any stage of a transaction.
PEC thus offers:
- Review and refinement of trade
objectives thus helping a client to craft a strategic plan for building a
profitable business.
- Advising clients on adapting products,
pricing and distribution to meet local needs and preferences in new
markets.
- Generation of a wealth of data on any
transaction that a client may contemplate, from cost estimates to the
creditworthiness of customers.
- Negotiation of transactions on behalf
of a client anywhere in the world taking into account the different
cultures, customs, languages and monetary systems prevalent in that
particular market.
- Prepare all the necessary and
indispensable paperwork required by each legal and regulatory jurisdiction
that touches a client’s transactions.
- Line up the funds required to set a
client’s transaction in motion and oversee payment and collection at its
conclusion.
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.59.85 |
|
|
1 |
Rs.92.31 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
62 |
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.