MIRA INFORM REPORT
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Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
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Name : |
PRIME ABGB PRIVATE LIMITED |
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Registered
Office : |
12 B/2 and 3, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.08.1998 |
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Com. Reg. No.: |
11-116384 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.250 Million |
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CIN No.: [Company Identification
No.] |
U30007MH1998PTC116384 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer of Computer Parts and Peripherals and also Provides
I.T. Services. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Management has reported a low profit margin from its operations during
FY14. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
Not Available
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
31-03-2014.
INFORMATION DENIED
Management Non-Cooperative
LOCATIONS
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Registered Office : |
12 B/2 and 3, |
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Tel. No.: |
91-22-67402000 |
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Fax No.: |
91-22-23885500 |
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E-Mail : |
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Website: |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mrs. Lawaljitkaur Gulbirsingh Bhatia |
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Designation : |
Director |
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Address : |
3B 111 Floor Ganges CHS |
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Date of Birth/Age : |
28.01.1975 |
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Date of Appointment : |
26.11.1998 |
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DIN No. : |
01557175 |
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Name : |
Mr. Gulbirsingh Bhatia |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
23.05.1973 |
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Date of Appointment : |
31.08.1998 |
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DIN No. : |
01680410 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mr. Amarjeet Singh Bhatia |
10010 |
39.99 |
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Mr. Gulbir Singh Bhatia |
10020 |
40.03 |
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Mrs. Lawaljit Kaur Gulbirsingh Bhatia |
5000 |
19.98 |
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Total |
25030 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage of Holding |
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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 : |
Dealer of Computer Parts and Peripherals and also Provides
I.T. Services. |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Sukhbir and Associates Chartered Accountants |
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Address : |
320, Udyog Mandir 1, Bhagoji Keer Marg, Mahim (West), Mumbai - 400016, Maharashtra, India |
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PAN No.: |
ACHFS8882P |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Related Parties : |
Prime Electronics |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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25030 |
Equity Shares |
Rs.10/- each |
Rs. 0.250 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.250 |
0.250 |
0.250 |
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(b) Reserves &
Surplus |
9.913 |
9.114 |
7.941 |
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(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
10.163 |
9.364 |
8.191 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
21.006 |
18.717 |
15.405 |
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(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
21.006 |
18.717 |
15.405 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
7.666 |
3.245 |
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(b) Trade payables |
22.732 |
29.785 |
17.890 |
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(c) Other current
liabilities |
2.215 |
0.804 |
4.630 |
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(d) Short-term provisions |
0.000 |
0.000 |
0.013 |
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Total Current Liabilities
(4) |
24.947 |
38.255 |
25.778 |
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TOTAL |
56.116 |
66.336 |
49.374 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
3.916 |
1.232 |
1.380 |
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(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets
(net) |
0.105 |
0.023 |
0.001 |
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(d) Long-term Loan and Advances |
5.976 |
5.863 |
5.790 |
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(e) Other Non-current
assets |
0.056 |
0.056 |
0.056 |
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Total Non-Current Assets |
10.053 |
7.174 |
7.227 |
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(2) Current assets |
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(a) Current investments |
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(b) Inventories |
22.126 |
19.493 |
18.607 |
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(c) Trade receivables |
21.922 |
33.781 |
20.842 |
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(d) Cash and cash
equivalents |
1.932 |
5.384 |
2.605 |
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(e) Short-term loans and advances |
0.083 |
0.504 |
0.022 |
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(f) Other current assets |
0.000 |
0.000 |
0.071 |
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Total Current Assets |
46.063 |
59.162 |
42.147 |
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TOTAL |
56.116 |
66.336 |
49.374 |
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
198.528 |
227.167 |
164.421 |
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Other Income |
0.532 |
0.067 |
0.313 |
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TOTAL (A) |
199.060 |
227.234 |
164.734 |
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Less |
EXPENSES |
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Purchases of Stock-in-Trade |
184.563 |
212.603 |
156.526 |
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Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.633) |
(0.885) |
(4.625) |
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Employees benefits
expense |
6.181 |
4.991 |
4.076 |
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Other expenses |
5.610 |
4.763 |
4.138 |
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TOTAL (B) |
193.721 |
221.472 |
160.115 |
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Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
5.339 |
5.762 |
4.619 |
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Less |
FINANCIAL EXPENSES (D) |
3.132 |
3.790 |
3.473 |
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PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.207 |
1.972 |
1.146 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.025 |
0.273 |
0.325 |
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PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
1.182 |
1.699 |
0.821 |
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Less |
TAX (H) |
0.383 |
0.526 |
0.324 |
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PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
0.799 |
1.173 |
0.497 |
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Earnings / (Loss) Per
Share (Rs.) |
319.41 |
468.69 |
198.66 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
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Net Profit Margin PAT / Sales |
(%) |
0.40 |
0.52 |
0.30 |
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Operating Profit Margin (PBDIT/Sales) |
(%) |
2.69 |
2.54 |
2.81 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.11 |
2.56 |
1.66 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.18 |
0.10 |
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Debt Equity Ratio (Total Debt /Networth) |
|
2.07 |
2.82 |
2.28 |
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Current Ratio (Current Asset/Current Liability) |
|
1.85 |
1.55 |
1.63 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.250 |
0.250 |
0.250 |
|
Reserves & Surplus |
7.941 |
9.114 |
9.913 |
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Net worth |
8.191 |
9.364 |
10.163 |
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|
long-term borrowings |
15.405 |
18.717 |
21.006 |
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Short term borrowings |
3.245 |
7.666 |
0.000 |
|
Total borrowings |
18.650 |
26.383 |
21.006 |
|
Debt/Equity ratio |
2.277 |
2.817 |
2.067 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
164.421 |
227.167 |
198.528 |
|
|
|
38.162 |
-12.607 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
164.421 |
227.167 |
198.528 |
|
Profit |
0.497 |
1.173 |
0.799 |
|
|
0.30% |
0.52% |
0.40% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Current maturities of long term debts |
0.469 |
0.000 |
3.885 |
|
Total |
0.469
|
0.000 |
3.885 |
|
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 |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
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 |
Yes |
|
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 |
No |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advance from related parties |
|
|
|
Loans from Directors |
0.240 |
3.907 |
|
Total |
0.240 |
3.907 |
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10260905 |
01/10/2010 |
10,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A99390585 |
|
2 |
10117654 |
01/09/2006 |
10,000,000.00 |
UNION BANK OF INDIA |
Nepean Sea Road Branch, Manisha, Opposite Petit Hall, 69-A, Nepeansea Road, Mumbai, Maharashtra - 400006, INDIA |
A30100408 |
* Date of charge modification
CONTINGENT
LIABILITIES:
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The company does not recognize a contingent liability but discloses its existence in the financial statements.
FIXED ASSETS
- Office Equipments
- Furniture and fixture
- Motor Vehicle
- Computers
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. 62.20 |
|
|
1 |
Rs. 97.80 |
|
Euro |
1 |
Rs. 77.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
|
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.