1. Summary Information
|
Country |
India |
||
|
Company Name |
PARIKH MARKETING PRIVATE LIMITED |
Principal Name 1 |
Mr. Tribhuwan
Prasad Singh |
|
Status |
Moderate |
Principal Name 2 |
Mr. Amit Desai |
|
Registration # |
03-013112 |
||
|
Street Address |
Sushnilewa,
Opposite Airport, Barwadda Road, Dhanbad – 826004, Jarkhand, India |
||
|
Established Date |
31.03.2008 |
SIC Code |
- |
|
Telephone# |
Not Available |
Business Style 1 |
Distributor |
|
Fax # |
Not Available |
Business Style 2 |
- |
|
Homepage |
- |
Product Name 1 |
Electronic Products |
|
# of employees |
45 (Approximately) |
Product Name 2 |
- |
|
Paid up capital |
Rs.790,500/- |
Product Name 3 |
- |
|
Shareholders |
Directors
or relatives of directors – 98.73% Other
top fifty shareholders -1.27% |
Banking |
State Bank of India |
|
Public Limited Corp. |
NO |
Business Period |
5 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ca (13) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
75,122,000 |
Current Liabilities |
20,463,000 |
|
Inventories |
31,876,000 |
Long-term Liabilities |
78,067,000 |
|
Fixed Assets |
1,730,000 |
Other Liabilities |
000 |
|
Deferred Assets |
000 |
Total Liabilities |
98,530,000 |
|
Invest& other Assets |
51,000 |
Retained Earnings |
7,459,000 |
|
|
|
Net Worth |
10,249,000 |
|
Total Assets |
108,779,000 |
Total Liab. & Equity |
108,779,000 |
|
Total Assets (Previous Year) |
439,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARIKH MARKETING PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Sushnilewa,
Opposite Airport, Barwadda Road, Dhanbad – 826004, Jarkhand |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
31.03.2008 |
|
|
|
|
Com. Reg. No.: |
03-013112 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs. 0.791 million |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51505JH2008PTC013112 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trade and
Distributor of Samsung Sony Home Appliances Product and Dealer of Sonata
Watches. |
|
|
|
|
No. of Employees
: |
45 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a company having a moderate track record. The management of
the company has failed to file its financials with the government department
after 2010. Mr. Tribhuvan Singh, Director denied to disclose any detail of the
company to us. As per indirect source we found latest verified financials and there
appears slight dip in the sales during 2012 and the profitability of the
company appears to be very low. However, business is active. Payment terms are slow and delayed. The company can be considered for business dealings on a safe and
secured trade terms and conditions. Note: Indirect Source - Crisil |
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) |
|
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced controls
on foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of
persistently high inflation and interest rates and little progress on economic
reforms. High international crude prices have exacerbated the government's fuel
subsidy expenditures contributing to a higher fiscal deficit, and a worsening
current account deficit. Little economic reform took place in 2011 largely due
to corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: B+ |
|
Rating Explanation |
High risk of default |
|
Date |
13.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
13.12.2012 |
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 DENIED BY
|
Name : |
|
|
Designation : |
Director |
|
Contact No.: |
91-9431120859/ 9204056710 91-326-2303271 |
|
Date : |
07.03.2013 |
LOCATIONS
|
Registered
Office : |
Sushnilewa,
Opposite Airport, Barwadda Road, Dhanbad – 826004, Jarkhand, India |
|
|
Not Available |
|
Fax No.: |
Not Available |
|
E-mail: |
|
|
|
|
|
Godown : |
|
|
|
91-326-2291543 |
|
Fax No.: |
91-326-2291546 |
|
E-mail: |
|
|
Area : |
6000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Showroom : |
|
DIRECTORS
As On : 30.09.2010
|
Name : |
|
|
Designation : |
Director |
|
Address : |
House No.14,
Jyoti Sadan, Grewal Colony, Bekar Bandh, Dhabad, District Dhanbad – 826 001, |
|
Date of Birth/Age : |
03.03.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
31.03.2008 |
|
DIN No : |
02069217 |
|
|
|
|
Name : |
|
|
Designation : |
Director |
|
Address : |
Flat No.302, Ganga
Apartment, Shanti Bhawan, Bank More, Dhabad, District Dhanbad – 826 001, |
|
Date of Birth/Age : |
02.06.1969 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
31.03.2008 |
|
DIN No : |
02069233 |
KEY EXECUTIVES
|
Name : |
Mr. Prabhat |
|
Designation : |
Chief Account Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Amit Desai |
|
36875 |
|
Tribhuwan Prasad
Singh |
|
36875 |
|
Jasumati Desai |
|
3050 |
|
Mahendra Kr. Desai (HUF) |
|
250 |
|
Amit Desai (HUF) |
|
250 |
|
Gajendra Singh |
|
250 |
|
Raj Kumar Singh |
|
250 |
|
Rameshwar Pd. Singh (HUF) |
|
250 |
|
Tribhuwan Prasad
Singh (HUF) |
|
250 |
|
Rameshwar Prasad
Singh |
|
250 |
|
Rajesh J Matalia |
|
250 |
|
Neha R Matalia |
|
250 |
|
Total |
|
79050 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
98.73 |
|
Other top fifty shareholders |
|
1.27 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of
Electronic Products (Home Appliances) – Samsung and Dealer of Watches for
only Sonata. |
|
|
|
|
Products : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days and 60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days and 60 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
No. of Employees : |
45 (Approximately) |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R.J. Mattalia and Company Chartered Accountants |
|
Address : |
Shakti Colony, |
CAPITAL STRUCTURE
After 30.9.2010
Authorised Capital : Rs.2.500 Millions
Issued, Subscribed & Paid-up Capital : Rs.1.791 Millions
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
79050 |
Equity Shares |
Rs. 10/- each |
Rs. 0.791
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.791 |
0.100 |
|
|
2] Share Application Money |
|
2.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
7.459 |
0.331 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
10.249 |
0.431 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
61.697 |
0.000 |
|
|
2] Unsecured Loans |
|
16.370 |
0.000 |
|
|
TOTAL BORROWING |
|
78.067 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
88.317 |
0.431 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.731 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
31.876 |
0.000 |
|
|
Sundry Debtors |
|
63.333 |
0.000 |
|
|
Cash & Bank Balances |
|
7.034 |
0.032 |
|
|
Other Current Assets |
|
4.753 |
0.339 |
|
|
Loans & Advances |
|
0.002 |
0.000 |
|
Total
Current Assets |
|
106.998 |
0.371 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
17.101 |
0.000 |
|
|
Other Current Liabilities |
|
0.280 |
0.000 |
|
|
Provisions |
|
3.082 |
0.004 |
|
Total
Current Liabilities |
|
20.463 |
0.004 |
|
|
Net Current Assets |
|
86.535 |
0.367 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.051 |
0.064 |
|
|
|
|
|
|
|
|
TOTAL |
|
88.317 |
0.431 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
2.295 |
0.331 |
|
|
|
|
|
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Net Sales |
|
533.000 |
556.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
0.300 |
2.700 |
Note: Figures are gathered from indirect source - CRISIL
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.11 |
89.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.22 |
2.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
9.61 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
5.23 |
92.75 |
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 |
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
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 |
No |
|
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:
The registered office of the company has been shifted from 6
and 7, Industry House, Bank Mode, Dhanbad – 826001, Jarkhand, India to present address
BUSINESS
The company is doing wholesale and retail trading business of Electronic
appliances and Watches. The company has successfully ventured into DTH
installation, activation and recharge services during the current year. On
01.04.2009, complete business including all assets and liabilities of M/s
Parikh Sales (Partnership Firm) was taken over by M/s, Parikh Marketing Private
Limited ongoing concern basis. The same has been duly incorporated into the
accounts of the company during the current year.
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. 54.26 |
|
|
1 |
Rs. 81.94 |
|
Euro |
1 |
Rs. 70.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
13 |
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.