MIRA INFORM REPORT
|
Report Date : |
23.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
PELICAN POLY AND PALLETS PRIVATE LIMITED (w.e.f.18.11.2008) |
|
|
|
|
Formerly Known
As : |
TARUN TRADERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
216, Mahatma Gandhi Road, 1st Floor, Kolkata – 700007, West
Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.02.1991 |
|
|
|
|
Com. Reg. No.: |
21-050810 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.104 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB1991PTC050810 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALT04088A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT9193L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Thermo Plastic Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 60000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
company has performed well and wipe out its accumulated loss in 2012. The financial position seems to be improving. 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 great
caution. Profit and Loss for the year 2011 and 2012 is not available. |
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 |
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 : |
216, Mahatma Gandhi Road, 1st Floor, Kolkata – 700007, West
Bengal, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9789959427 (Mr. Ashok) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Block No. 648/649, Manjusar, Savali, Vadodara-391775, Gujarat, India |
|
Tel. No.: |
91-2667-264352 |
|
Fax No.: |
91-2667-264352 |
|
E-Mail : |
DIRECTORS
As on 21.09.2012
|
Name : |
Mr. Kaushik Keshavlal Patel |
|
Designation : |
Managing director |
|
Address : |
302, Shakuntal Flats, B/H Palm View
Apparments, Vasna Road, Vadodara-390007, Gujarat, India |
|
Date of Birth/Age : |
28.06.1958 |
|
Date of Appointment : |
12.11.2008 |
|
DIN No.: |
00248349 |
|
|
|
|
Name : |
Mr. Manish Kiritbhai Patel |
|
Designation : |
Director |
|
Address : |
M-Flats, Kamvan Flat,, 51, Alkapuri Society, Vadodara – 390005,
Gujarat, India |
|
Date of Birth/Age : |
23.08.1968 |
|
Date of Appointment : |
01.09.2010 |
|
DIN No.: |
00241792 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Tarun Mall |
|
100 |
|
V.P. Mall |
|
100 |
|
Kaushik Keshavlal Patel |
|
614460 |
|
Manish Kiritbhai Patel |
|
794000 |
|
Harshaben Kaushikkumar Patel |
|
1700 |
|
Mangla Land Development Corporation, India |
|
10 |
|
Gomtiben Ishwarbhai Patel |
|
10 |
|
Dashrathbhai Kalidas Patel |
|
10 |
|
Nujet Carburetors Private Limited |
|
10 |
|
Total |
|
1410400 |
As on 21.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Thermo Plastic Products. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
Supplier : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customer : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M B Majmudar and Company Chartered Accountants |
|
Address : |
311, Gayatri Chambers, 3rd Floor, R C Dutt Road, Vaodara – 390007, Gujarat,
India |
|
Tel. No.: |
91-265-2336991 / 2334393 |
|
Mobile No.: |
91-9824023509 |
|
PAN No.: |
ACJPM5005C |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1410400 |
Equity Shares |
Rs.10/- each |
Rs.14.104
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 |
14.104 |
14.104 |
14.104 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.813 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(2.273) |
(2.482) |
|
|
NETWORTH |
14.917 |
11.831 |
11.622 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
33.564 |
46.578 |
45.375 |
|
|
2] Unsecured Loans |
13.530 |
12.010 |
8.429 |
|
|
TOTAL BORROWING |
47.094 |
58.588 |
53.803 |
|
|
DEFERRED TAX LIABILITIES |
0.343 |
0.333 |
0.309 |
|
|
|
|
|
|
|
|
TOTAL |
62.354 |
70.752 |
65.734 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.475 |
32.604 |
19.064 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.509
|
19.987
|
14.320 |
|
|
Sundry Debtors |
22.801
|
19.123
|
10.168 |
|
|
Cash & Bank Balances |
0.171
|
0.215
|
0.510 |
|
|
Other Current Assets |
0.411
|
0.930
|
18.372 |
|
|
Loans & Advances |
5.923
|
7.408
|
7.803 |
|
Total
Current Assets |
39.815
|
47.663
|
51.173 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.936
|
8.800
|
4.927 |
|
|
Other Current Liabilities |
1.000
|
0.713
|
0.497 |
|
|
Provisions |
0.000
|
0.002
|
0.002 |
|
Total
Current Liabilities |
5.936
|
9.515
|
5.426 |
|
|
Net Current Assets |
33.879
|
38.148
|
45.747 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
Differed revenue exp |
0.000 |
0.000 |
0.923 |
|
|
|
|
|
|
|
|
TOTAL |
62.354 |
70.752 |
65.734 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
50.092 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
48.870 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
1.222 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
|
2.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
(1.326) |
|
|
|
|
|
|
|
|
|
|
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
(1.326) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
(0.754) |
|
|
|
|
|
|
|
|
|
|
DIFFERED TAX
LIABILITY |
|
|
(0.402) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(2.482) |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
|
|
9.506 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
|
|
9.338 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
|
(0.94) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
(2.65) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
(1.89) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.16
|
4.95
|
4.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.71
|
5.01
|
9.43 |
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
one years |
Yes |
|
12] |
Profitability for last
one 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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
D. K. Patel (Ahmedabad) |
3.279 |
1.125 |
|
Gomtiben I. Patel |
0.450 |
0.000 |
|
Harsha K.Patel |
0.800 |
0.535 |
|
Kaushikbhai K. Patel |
1.426 |
2.800 |
|
Mangala Land Development Corpn. |
1.000 |
1.000 |
|
Mamsh K. Patel |
5.500 |
5.500 |
|
Nujet Carburetors Private Limited Loan |
1.075 |
1.050 |
|
Total |
13.530 |
12.010 |
FIXED ASSETS
- Computer
- Film Plant
- Net Plant
- Office
Equipment
- Other
Machinery
- Printing
Plant
- Q.C.
Equipment
- Electrical
Installation
- Vehicle
- Furniture and
Fixtures
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 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.55.52 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.