MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

PRAFFUL INDUSTRIES PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

Not Divulged

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in business of Job Work.

 

OPERATIONS:

 

Turnover during the year were Rs. 281.000 Millions as compared to Rs. 289.000 Millions during the last year thereby showing an marginal decrease in comparison to previous year. Profit after tax was Rs. 1.272 Millions as against Rs.0. 947 Millions. Despite of lower turnover, net profit had increased by 34.31%. Increase in profit was due to substantial cost cutting in cost of materials including packing material. Another factor was tight controls over expenses. The directors are optimistic and hope that the current year will be more rewarding and show good results. Keeping in view of requirement of more working capital, no dividend is recommended.

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Divulged

 

 

Bankers :

State Bank of India, Mid Corporate Group Industrial Finance Branch, Marble Arch Race Course Circle, Baroda - 390007, Gujarat, India

 

 

Facilities :

Secured Loan

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

Long-term Borrowings

 

 

Rupee term loans from banks

8.004

13.198

Short-term borrowings

 

 

Working capital loans from banks

54.081

42.339

Total

62.085

55.537

 

 

 

Unsecured Loan

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

Short-term borrowings

 

 

Loans and advances from directors

0.819

2.598

Loans and advances from others

5.241

1.087

Long-term maturities of finance lease obligations

 4.420

4.420

Total

10.480

8.105

 

Banking Relations :

--

 

 

Auditors :

 

Name :

B R Maheshwari and Company

Chartered Accountants

Address :

M-118, Connaught Circus

PAN N Income-tax PAN of auditor or auditor's firm :

AACPM9479N

 

 

Enterprises over which Key Management Personnel and their relative having significant influence:

·         Prafful Overseas Private Limited, India

CIN: U74899DL1990PTC041369

·         Ganga Ram Synthetics Private Limited, India

CIN: U74899DL1986PTC024248

·         Prafful Exports

·         Raveesh Overseas

·         Shreya Apparels India Private Limited

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2013

 

Names of Shareholders

 

No. of Shares

Aggarwal Narain Jai

 

2141062

Aggarwal Narain Sri

 

2285100

J N Aggarwal Huf

 

29975

S N Aggarwal Huf

 

30910

Aggarwal Raveesh

 

124575

Aggarwal Varun

 

107870

Aggarwal Prafful

 

113963

Prafful Overseas Private Limited, India

 

100

Gupta Chand Mahesh

 

150

Goyal Kumar Sanjay

 

500

Adleja C Dolar

 

205000

Adleja D Bina

 

15

Goual Uma

 

100

Paresh Amarnani

 

258343

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

50.933

50.933

50.933

(b) Reserves & Surplus

45.696

42.436

43.258

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

96.629

93.369

94.191

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

8.004

13.198

20.244

(b) Deferred tax liabilities (Net)

7.657

9.102

10.987

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

15.661

22.300

31.231

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

64.561

50.444

58.385

(b) Trade payables

40.839

42.970

24.363

(c) Other current liabilities

10.278

10.126

23.620

(d) Short-term provisions

2.638

3.324

3.267

Total Current Liabilities (4)

118.316

106.864

109.635

 

 

 

 

TOTAL

230.606

222.533

235.057

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

99.558

104.308

122.854

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1.745

1.745

1.745

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

6.055

5.409

5.409

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

107.358

111.462

130.008

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

58.392

30.146

17.331

(c) Trade receivables

49.389

65.014

66.951

(d) Cash and cash equivalents

1.900

1.926

0.963

(e) Short-term loans and advances

4.257

3.703

6.224

(f) Other current assets

9.310

10.282

13.580

Total Current Assets

123.248

111.071

105.049

 

 

 

 

TOTAL

230.606

222.533

235.057

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Turnover

281.000

289.000

285.800

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

NA

21.828

23.604

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION                    

NA

17.723

19.188

 

 

 

 

 

 

PROFIT BEFORE TAX

NA

4.105

4.416

 

 

 

 

 

 

TAX                                                                 

NA

3.158

2.749

 

 

 

 

 

 

PROFIT AFTER TAX

1.272

0.947

1.666

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.25

NA

NA

 

 

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

LOCATIONS

 

Registered Office :

349, 1st Floor, Katra Naya, Chandni Chowk, New Delhi – 110006, India

Tel. No.:

91-11-23269196

Fax No.:

Not Available

E-Mail :

contactho@prafful.com

 

 

Factory:

Plot No 507, Road No 82, GIDC Sachin, Surat – 394230, Gujarat, India

Tel No.:

91-261-2397535

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.