MIRA INFORM REPORT
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Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
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Name : |
PRANJAL PROJECTS PRIVATE LIMITED |
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Registered
Office : |
C-124B, Greater Kailash-I, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
13.05.2002 |
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Com. Reg. No.: |
169601 |
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CIN No.: [Company Identification
No.] |
U27104DL2002PTC169601 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Buckets, F.A.S.B., Chasis, Loader Arm, Outer, Leg,
Inner Leg, Front Axle, Main Frame Boom and all types of sheet metal and press
shop components |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 160000 |
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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 an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
C-124B, Greater Kailash-I, |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No. 47, Sector – 59, H.U.D.A., |
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Tel. No.: |
91-129-4089142-150 |
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Fax No.: |
91-129-4089143 |
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E-Mail : |
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Factory 2 : |
Plot No. 147, Sector-24, |
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Tel. No.: |
91-129-4089142-48/2234667/4064667/4150751-7 |
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Fax No.: |
91-129-2238106 |
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E-Mail : |
DIRECTORS
As On 27.09.2010
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Name : |
Mr. Vikas Bhatia |
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Designation : |
Director |
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Address : |
H.No.809, Sector-15, |
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Date of Birth/Age : |
26.09.1970 |
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Date of Appointment : |
11.02.2008 |
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DIN No.: |
00959191 |
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Name : |
Mr. Deepak Bhatia |
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Designation : |
Director |
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Address : |
H.No.809, Sector-15, |
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Date of Birth/Age : |
30.12.1977 |
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Date of Appointment : |
13.05.2002 |
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DIN No.: |
00961974 |
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Name : |
Mr. Piyush Bhatia |
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Designation : |
Director |
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Address : |
H.No.809, Sector-15, |
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Date of Birth/Age : |
11.08.1969 |
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Date of Appointment : |
12.05.2003 |
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DIN No.: |
01673352 |
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Name : |
Mr. Harish Chander Bhatia |
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Designation : |
Director |
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Address : |
H.No.809, Sector-15, |
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Date of Birth/Age : |
20.10.1947 |
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Date of Appointment : |
27.02.2008 |
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DIN No.: |
02045146 |
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Name : |
Ms. Mamta Vasant Bhatia |
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Designation : |
Director |
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Address : |
H.No.809, Sector-15, |
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Date of Birth/Age : |
06.01.1980 |
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Date of Appointment : |
01.10.2009 |
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DIN No.: |
03376553 |
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Name : |
Mrs. Kamlesh Bhatia |
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Designation : |
Director |
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Address : |
H.No.809, Sector-15, |
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Date of Birth/Age : |
16.11.1948 |
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Date of Appointment : |
01.10.2009 |
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DIN No.: |
03376583 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 27.09.2010
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Names of Shareholders |
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No. of Shares |
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Deepak Bhatia |
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24508 |
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Piyush Bhatia |
|
6499 |
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Vikas Bhatia |
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25572 |
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Harish Chander Bhatia |
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36717 |
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Kamlesh Bhatia |
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4700 |
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Mamta Bhatia |
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4699 |
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Total |
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102695 |
As On 27.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Buckets, F.A.S.B., Chasis, Loader Arm, Outer, Leg,
Inner Leg, Front Axle, Main Frame Boom and all types of sheet metal and press
shop components |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kumar Sanjay and Associates Chartered Accountant |
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Address : |
SCF-32, SEEC-16A, |
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Tel. No.: |
91-95129-4072066 |
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Fax No.: |
91-95129-4047065 |
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E-Mail : |
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Pan No.: |
ACUPK0608E |
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Associates : |
Race Automotives Private Limited |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2545000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.450 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
102695 |
Equity Shares |
Rs. 10/- each |
Rs. 1.027
Millions |
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Note:
Amount pending for allotment to the
shareholders of transferee company consequent to merger
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.027 |
0.976 |
0.940 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
41.457 |
20.510 |
13.140 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
42.484 |
21.486 |
14.080 |
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LOAN FUNDS |
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1] Secured Loans |
74.193 |
53.760 |
28.333 |
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2] Unsecured Loans |
11.254 |
12.525 |
1.415 |
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TOTAL BORROWING |
85.447 |
66.285 |
29.748 |
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DEFERRED TAX LIABILITIES |
1.412 |
1.737 |
0.925 |
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TOTAL |
129.343 |
89.508 |
44.753 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
58.900 |
61.598 |
36.395 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
2.296 |
8.491 |
14.581 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
121.639
|
93.175 |
24.547 |
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Sundry Debtors |
74.923
|
27.859 |
17.833 |
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Cash & Bank Balances |
8.248
|
5.260 |
0.712 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
46.446
|
12.315 |
2.849 |
|
Total
Current Assets |
251.256
|
138.609 |
45.941 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
170.660
|
106.195 |
33.217 |
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Other Current Liabilities |
10.035
|
11.465 |
16.101 |
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Provisions |
2.442
|
1.563 |
2.846 |
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Total
Current Liabilities |
183.137
|
119.223 |
52.164 |
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Net Current Assets |
68.119
|
19.386 |
(6.223) |
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MISCELLANEOUS EXPENSES |
0.028 |
0.033 |
0.000 |
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TOTAL |
129.343 |
89.508 |
44.753 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
|
|
434.516 |
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Other Income |
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|
0.000 |
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TOTAL (A) |
573.063 |
447.973 |
434.516 |
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Less |
EXPENSES |
|
|
|
|
|
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Raw material and consumables |
|
|
385.052 |
|
|
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Manufacturing expenses |
|
|
29.377 |
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Selling and administrative expenses |
|
|
12.149 |
|
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Increase/Decrease in stock |
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|
(9.703) |
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|
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TOTAL (B) |
556.731
(Including Financial Expenses) |
434.363
(Including Financial Expenses) |
416.875 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
17.641 |
|
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|
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Less |
FINANCIAL EXPENSES (D) |
|
|
4.385 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.332 |
13.610 |
13.256 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.320 |
7.429 |
3.563 |
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PROFIT BEFORE
TAX (E-F) (G) |
8.012 |
6.181 |
9.693 |
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Less |
TAX (I) |
2.117 |
NA |
3.486 |
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PROFIT AFTER TAX
(G-I) (J) |
5.895 |
NA |
6.207 |
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IMPORTS |
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Machinery purchased |
0.000 |
13.556 |
0.336 |
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TOTAL IMPORTS |
0.000 |
13.556 |
0.336 |
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Earnings Per
Share (Rs.) |
60.08 |
NA |
92.15 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.03
|
NA |
1.43 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
2.23 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.58
|
3.09 |
11.77 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.29 |
0.69 |
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Debt Equity Ratio (Total Liability/Networth) |
|
6.32
|
8.63 |
5.82 |
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Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.16 |
0.88 |
LOCAL AGENCY FURTHER INFORMATION
Operation:
Company has achieved satisfactory results during year after the post merger of the Company as compared to last financial year. Sales and profit before tax are increased 27.92% and 29.62%, respectively, as compared to last financial year.
Form 8:
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Corporate
identity number of the company |
U27104DL2002PTC169601 |
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Name of the
company |
PRANJAL PROJECTS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
C-124B, Greater Kailash-I,
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This form is for |
Creation of
charge |
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Type of charge |
Immovable
Property Movable Property FDR of Rs.0.750
million lien marked to SIDBI |
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Particular of
charge holder |
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Nature of
instrument creating charge |
As Per the Deed
of Hypothecation agreement dated 23.02.2011 and two Declarations and
Undertakings dated 23.02.2011 for the financial assistance of Rs.7.500
million in the form of Subordinate Debt. |
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Date of
instrument Creating the charge |
23.02.2011 |
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Amount secured by
the charge |
Rs. 7.500
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- 13.50 % p.a. , with monthly rests, on the principal amount of the
Subordinate debt outstanding from time to time. Terms of
Repayment - The SD shall be repaid in 48 monthly installments of the First 47
installments of Rs.0.156 million each followed by last installment of
Rs.0.168 million commencing after 36 months from the date of first
disbursement of the loan. Extent and
Operation of the charge - The assistance shall be secured by all the movable
assets and this charge would be subservient to all the existing and
prospective charges created/to be created on such assets and all the fixed assets and current assets
which are charged to IOB & SIDBI shall be charged to SIDBI on residual
basis. |
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Particulars of
the property charged |
Subservient/
residual charge on the immovable properties of the companies situated at
Southern portion of Industrial plot no. 15, Sector-24, Subservient/residual
charge by way of hypothecation of all the movables, plant and machinery acquired/
to be acquired under the previous SIDBI loans kept / to be kept at Plot No.
15, Sector- 24, Urban Estate, Faridabad and Plot No. 47, Sector- 59, HUDA,
Faridabad. Subservient/residual
charge on all movable items of plant, machinery, current assets and other
equipment which are charged to Indian Overseas Bank on first charge basis and
kept / to be kept at Plot No. 15, Sector- 24, Urban Estate, Faridabad; Plot
No. 47, Sector- 59, HUDA, Faridabad and Plot No. 147, Sector- 24, Urban
Estate, Faridabad. |
AS PER WEBSITE
DETAILS
PROFILE:
Subject was promoted and started by Mr. H.C. BHATIA in the year 2005 that has a rich experience in the field of welding and sheet metal technology. It was jointly started by the family members and is guided by its original pioneering spirit, pursuit for technology, focus on customer's care and dynamic culture. Customer's satisfaction and total quality is embedded in its quality policy. The work force has passion for excellence, is open to new ideas and committed to quality results.
The company enjoys a leadership in many of these areas and has a significant presence in the field of welding and sheet metal technology.
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 records 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.44.53 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.62.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
|
|
|
|
TOTAL |
|
45 |
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.