MIRA INFORM REPORT
|
Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
POONA ROLLER FLOUR MILLS LIMITED |
|
|
|
|
Registered
Office : |
103/104, Hadapsar Industrial Estate, Pune-411013, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
12.03.1987 |
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|
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Com. Reg. No.: |
11-042872 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15311PN1987PLC042872 |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCP9165H |
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|
Legal Form : |
A closely held Public Limited Liability Company. |
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Line of Business
: |
Importer and Exporter of Cargo Description and Weight. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 260000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of ‘PDBM GROUP’. It is an established company having
a satisfactory track record. The profitability appears to be low. However, the networth of the company is good. The company gets strong
support from its group companies. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. In view of experience promoters, the company can be considered 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 – 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Cash Credit : BBB |
|
Rating Explanation |
Having moderate degree of safety regarding timely securing of
financial obligation. It carry moderate credit risk. |
|
Date |
March 2013 |
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 : |
103/104, Hadapsar Industrial Estate, Pune-411013, |
|
Tel. No.: |
91-20-26872003/ 26874413/ 26820086 |
|
Fax No.: |
91-20-26873266 |
|
E-Mail : |
DIRECTORS
As on : 26.09.2012
|
Name : |
Mr. Swapnil Jalamchand Parekh |
|
Designation : |
Director |
|
Address : |
584/2, |
|
Date of Birth : |
11.01.1973 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.08.2001 |
|
DIN No.: |
00066960 |
|
|
|
|
Name : |
Mr. Virendrakumar Dhanraj Sancheti |
|
Designation : |
Whole- Time Director |
|
Address : |
557A/1, Ramraj Apartment, Gultekadi, Pune-411001, |
|
Qualification : |
B.Com |
|
Date of Birth : |
28.11.1955 |
|
Date of Appointment : |
30.06.1997 |
|
DIN No.: |
01768808 |
|
|
|
|
Name : |
Mr. Pravin Manikchand Muthiyan |
|
Designation : |
Director |
|
Address : |
Nirmal Complex, Flat No. 2, St. Patrick Town, Shevkar Vasti,
Pune-411013, |
|
Date of Birth/Age : |
18.05.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
21.05.2011 |
|
DIN No.: |
03525563 |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 26.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Deepchand Kaesharchand Parakh |
3900 |
9.75 |
|
Deepchand Kaesharchand Parakh HUF |
3900 |
9.75 |
|
Sudarshanabai Deepchand Parakh |
3900 |
9.75 |
|
Sunil Deepchand Parakh |
3900 |
9.75 |
|
Rajashree Sunil Parakh |
3900 |
9.75 |
|
Sujit Deepchand Parakh |
3900 |
9.75 |
|
Meera Parakh |
3600 |
9.00 |
|
Jalamchand Kesharchand Parakh |
3500 |
8.75 |
|
Jalamchand Kesharchand Parakh HUF |
3900 |
9.75 |
|
Vijayabai J. Parakh |
3750 |
9.38 |
|
Swapnil J. Parakh |
250 |
0.63 |
|
Namrata Parakh |
1600 |
4.00 |
|
Total
|
40000 |
100.00 |
Equity
Share Break up (Percentage of Total Equity)
As on : 26.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
28.50 |
|
Other top fifty shareholders |
71.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Exporter of Cargo Description and Weight. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of India, Industrial Finance Branch,
Tara Chambers, Near Mariaaipolice Chowky, Old Pune Mumbai Highway, Wakdewadi,
Pune-411003, Maharashtra, India ·
State bank of |
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Facilities : |
Rs
in Millions
|
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Auditors : |
|
|
Name : |
Bharat H Shah and Associates Chartered Accountants |
|
Address : |
B/202, |
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PAN No.: |
AVSPS4661A |
CAPITAL STRUCTURE
As on : 26.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000 |
Equity Shares |
Rs. 100/-each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000 |
Equity Shares |
Rs. 100/-each |
Rs. 4.000 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 |
4.000 |
4.000 |
4.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
63.087 |
56.562 |
50.646 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
67.087 |
60.562 |
54.646 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.004 |
41.856 |
0.124 |
|
|
2] Unsecured Loans |
75.000 |
0.000 |
53.500 |
|
|
TOTAL BORROWING |
84.004 |
41.856 |
53.624 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
151.091 |
102.418 |
108.270 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.358 |
16.630 |
18.335 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.420 |
0.420 |
0.420 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
167.040
|
101.982 |
57.285 |
|
|
Sundry Debtors |
196.000
|
268.935 |
34.089 |
|
|
Cash & Bank Balances |
195.384
|
42.719 |
104.614 |
|
|
Other Current Assets |
14.732
|
65.445 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
15.715 |
|
Total
Current Assets |
573.156
|
479.081 |
211.703 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
426.717
|
377.843 |
119.597 |
|
|
Other Current Liabilities |
15.126
|
15.870 |
2.591 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
441.843
|
393.713 |
122.188 |
|
|
Net Current Assets |
131.313
|
85.368 |
89.515 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
151.091 |
102.418 |
108.270 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2003.501 |
2139.796 |
1213.937 |
|
|
|
Other Income |
13.378 |
24.226 |
16.919 |
|
|
|
TOTAL (A) |
2016.879 |
2164.022 |
1230.856 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1941.598 |
2083.934 |
|
|
|
|
Changes in Inventories |
(1.124) |
(0.530) |
|
|
|
|
Employees Benefits |
6.485 |
5.070 |
|
|
|
|
Other Expenses |
45.936 |
53.970 |
|
|
|
|
TOTAL (B) |
1992.895 |
2142.444 |
1210.471 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
23.984 |
21.578 |
20.385 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.856 |
11.446 |
8.224 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.128 |
10.132 |
12.161 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.603 |
2.648 |
2.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
6.525 |
7.484 |
9.279 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
2.350 |
2.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
6.525 |
5.134 |
6.379 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
411.979 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
163.14 |
128.37 |
159.48 |
|
|
|
Diluted |
163.14 |
128.37 |
159.48 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.32
|
0.24 |
0.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.32
|
0.34 |
0.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.10
|
1.51 |
4.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.12 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.25
|
0.69 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.22 |
1.73 |
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 |
No |
|
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 |
UNSECURED LOANS :
Rs
In Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Loans Repayable on Demand |
75.000 |
-- |
|
Total |
75.000 |
-- |
BANKERS CHARGES
REPORT AS PER REGISTRY ;
|
Corporate
identity number of the company |
U15311PN1987PLC042872 |
|
Name of the
company |
POONA ROLLER
FLOUR MILLS LIMITED |
|
Address of the
registered office or of the principal place of business in |
103/104, Hadapsar Industrial Estate, Pune-411013, Email : SECRETARIAL@PDBMGROUP.COM |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90087796 |
|
Type of charge |
Immovable
Propertyy |
|
Particular of
charge holder |
State Bank of India, Industrial Finance Branch, Tara Chambers, Near
Mariaaipolice Chowky, Old Pune Mumbai Highway, Wakdewadi, Pune-411003, Maharashtra,
India Email : pragyan.sahoo@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum for
Recording Extension of Mortgage by Deposit of Title Deeds covering Enhanced
Limits and /or creation of Equitable Mortgage on Additional Properties for
existing limits and enhanced limits and Additional Facilties. |
|
Date of
instrument Creating the charge |
04.09.2012 |
|
Amount secured by
the charge |
Rs. 700.000 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest : For
DCC:@3.25%above Base Rate effective rate:12.50%p.a. For LC and BG: Commission
rate as per Bank's Norms time to time. Penal Interest on default any of the
Terms and Conditions as per RBI's Norms. Terms of Repayment : On Demand. Margin : RM:25% Work In
Progress:25% Finished Goods:30% Book Debts(Cover Period 90 days):40% Extent and Operation of the charge : SBI IFB Pune will
have first and single charge against the immovable properties through EM of existing factory land and building at
Gat No. 463 to 468 Koregaon Mul
Tal.Haveli Distt. Pune as depicted and denoted and Geographicated in
the Memorandum itself owned by Mr.J. Parakh and Mr. S. Parakh. the concern
have given NOc for such security. Collateral Security of existing Plant and
Machineries Charge will be in continuous mode till the repayment of entire
loan with interest thereon. Others : The Company, by
virtue of the Board Resolution Dt.18/06/2012, has given assent to all the
Terms & Conditions, Covenants,as provided in the Bank's S.Letter
No.IFB/Credit/AMT-V/2011-12/99 Dt.18/05/11 and have executed the related loan
document(s)/Agreement(s) through the Director(s), who have received and
signed the documents in physical form and have authorized one of the
Directors to file eform-8 for the modifications in the existing limits and in
the nature and scope of the charge on agreed terms. |
|
Short particulars
of the property charged |
|
|
Particulars of
the present modification |
By this present modification,
the Company has extended the charge of immovable properties through Deposit
of Title Deeds in Bank's favour to secure the credit facilities extended by
the Bank to the tune of Rs.700.000 Millions. |
FIXED ASSETS:
- Building
- Plant and Machinery
- Furniture and Fixture
- Office Equipments
- Computers
- Car
- Jeep
- Truck
- Electronic Scale
- Generator
- Tempo
- Mobile Phone
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. 54.21 |
|
|
1 |
Rs. 84.00 |
|
Euro |
1 |
Rs. 70.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.