MIRA
INFORM REPORT
|
Report Date : |
07.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRESS-COMP INTERNATIONAL PRIVATE LIMITED |
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Registered
Office : |
B-157, 2nd Stage, Peenya Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
16.04.1999 |
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Com. Reg. No.: |
08-025067 |
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Capital
Investment / Paid-up Capital : |
Rs.7.500 Millions |
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CIN No.: [Company Identification
No.] |
U02922KA1999PTC025067 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Press Tools and Press Components. |
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No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 156000 |
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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
record. General financial position of the company is normal and acceptable for
business dealing. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a quarter
of a century. The data was below an official estimate of 4.9 % annual growth
and compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on
overseas purchases and muted import of capital goods helped shrink the current
account deficit.
Online retailer Flipkart
has acquired fashion portal Myntra as it prepares to
battle with the rapidly expanding
General Motors will start exporting vehicles
from its Talegaon plant near Pune
in the second half of 2014. GM was one of the few global carmakers that was
using its
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year
to $ 158.84 billion. The top 10 of the 100 slots were dominated by US
companies.
Infosys lost another heavy weight when B G Srinivas,
a board member put in his papers. He is the third CEO-hopeful to quit after
Chairman N R Narayana Murthy’s return to the company
– Ashok Vemuri and V Balakrishnan being the other two.While
Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted biggest
quarterly loss – Rs 2153.37 crore
– in the three months ended March 31, mainly because it has been offering
discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway
Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Jay Kumar |
|
Designation : |
Finance Department |
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Contact No.: |
91-80-28364161 |
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Date : |
05.07.2014 |
LOCATIONS
|
Registered Office/ Factory 1 : |
B-157, 2nd Stage, Peenya Industrial Estate, |
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Tel. No.: |
91-80-28364161/ 4162 |
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Fax No.: |
91-80-41170188 |
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E-Mail : |
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Website : |
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Factory 2 : |
A-106, 3rd Main Road, 2nd Stage, Industrial Estate, Peenya, |
DIRECTORS
As on: 30.09.2013
|
Name : |
Asgar Mohsin |
|
Designation : |
Whole-Time Director |
|
Address : |
168 4th Cross, Gokul I, Stage Ii Phase, |
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Date of Birth/Age : |
01.01.1947 |
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Date of Appointment : |
12.10.2009 |
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DIN No.: |
00904083 |
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Name : |
Zakia Begum |
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Designation : |
Whole-Time Director |
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Address : |
Press Comp International Private Limited, Peenya,
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Date of Birth/Age : |
02.02.1951 |
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Date of Appointment : |
12.10.2009 |
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DIN No.: |
02433332 |
KEY EXECUTIVES
|
Name : |
Mr. Jay Kumar |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
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No. of Shares |
|
Asgar Mohsin |
|
2050 |
|
Zakia Begum |
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2050 |
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Asgar Mohsin and Zakia Begum |
|
2450 |
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Asgar Mohsin and Zakia Begum |
|
950 |
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Total |
|
7500 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
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 Press Tools and Press Components. |
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Exports : |
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Products : |
Finished Good |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Suppliers : |
Agarwal Metal Tools Private Limited |
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Customers : |
ABB Limited |
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No. of Employees : |
80 (Approximately) |
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Bankers : |
· State Bank of Mysore, Sme Branch, No. 220, Double Road, Peenya Industrial Area, Bangalore - 560058, Karnataka, India · State Bank of Mysore, Small and Medium Enterprises City Credit Centre, No.8/6, 2nd Floor, Ranga Rao Road, Shankarapuram, Bangalore - 560004, Karnataka, India |
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Facilities : |
(Rs. In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
DVR Kumar and Associates Chartered Accountants |
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Address : |
#34/2, 2nd Floor, Souparnika Arcade, 13th F
Cross, 4th Stage, WOC Road, Bangalore – 560079, Karnataka, India |
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Tel. No.: |
91-80-23401980 |
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Fax No.: |
91-80-41673098 |
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E-mail : |
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PAN No.: |
AANPD9278L |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs.1000/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
7500 |
Equity Shares |
Rs.1000/- each |
Rs.7.500 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
7.500 |
7.500 |
7.500 |
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(b) Reserves & Surplus |
31.578 |
26.745 |
23.526 |
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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) |
39.078 |
34.245 |
31.026 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
21.462 |
29.229 |
49.749 |
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(b) Deferred tax liabilities
(Net) |
4.384 |
4.146 |
3.660 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
25.846 |
33.375 |
53.409 |
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(4) Current Liabilities |
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(a) Short term borrowings |
44.262 |
38.750 |
39.262 |
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(b) Trade payables |
17.193 |
17.482 |
24.773 |
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(c) Other current liabilities |
26.669 |
19.522 |
3.648 |
|
(d) Short-term provisions |
6.812 |
4.818 |
2.614 |
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Total
Current Liabilities (4) |
94.936 |
80.572 |
70.297 |
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TOTAL |
159.860 |
148.192 |
154.732 |
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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 |
79.176 |
76.662 |
81.341 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
79.176 |
76.662 |
81.341 |
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(2) Current assets |
|
|
|
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(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
33.834 |
30.261 |
30.286 |
|
(c) Trade receivables |
29.570 |
22.825 |
27.569 |
|
(d) Cash and cash equivalents |
0.942 |
0.635 |
0.679 |
|
(e) Short-term loans and
advances |
16.338 |
17.809 |
14.857 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
80.684 |
71.530 |
73.391 |
|
|
|
|
|
|
TOTAL |
159.860 |
148.192 |
154.732 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
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SALES |
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Income |
175.000
(Approximately) |
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Other Income |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT BEFORE
TAX |
NA |
NA |
NA |
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TAX |
NA |
NA |
NA |
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PROFIT AFTER TAX |
4.834 |
3.219 |
6.533 |
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EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
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|
Export Earnings |
25.311 |
35.786 |
39.225 |
|
|
TOTAL EARNINGS |
25.311 |
35.786 |
39.225 |
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1.406 |
3.384 |
3.082 |
|
|
|
Consumable Stores |
0.063 |
0.287 |
1.157 |
|
|
|
Machinery |
8.839 |
0.406 |
0.000 |
|
|
TOTAL IMPORTS |
10.308 |
4.077 |
4.239 |
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|
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|
Earnings Per
Share (Rs.) |
644.48 |
429.17 |
871.06 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
170.000 |
|
|
|
|
|
The above information has been parted by Mr. Jay Kumar
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt/Networth)
|
|
1.68 |
1.99 |
2.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85 |
0.89 |
1.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
7.500 |
7.500 |
7.500 |
|
Reserves & Surplus |
23.526 |
26.745 |
31.578 |
|
Net
worth |
31.026 |
34.245 |
39.078 |
|
|
|
|
|
|
long-term borrowings |
49.749 |
29.229 |
21.462 |
|
Short term borrowings |
39.262 |
38.750 |
44.262 |
|
Total
borrowings |
89.011 |
67.979 |
65.724 |
|
Debt/Equity
ratio |
2.869 |
1.985 |
1.682 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two 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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
From Bank |
2.399 |
1.233 |
|
From other parties |
1.029 |
2.955 |
|
Loans and advances from related parties |
1.383 |
2.763 |
|
|
|
|
|
Total |
4.811 |
6.951 |
STATE OF
As reflected in the financial results, the company
has achieved a profit of Rs.4.834 Millions against the previous year’s profit
of Rs.3.219 Millions. The directors are confident that the company will achieve
better results in coming years.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10272570 |
05/05/2012 * |
12,200,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
B39372552 |
|
2 |
10252644 |
13/10/2010 * |
4,300,000.00 |
STATE BANK OF |
|
B04534061 |
|
3 |
10252954 |
12/10/2010 |
4,300,000.00 |
STATE BANK OF |
|
A99951352 |
|
4 |
90198582 |
29/03/2005 |
16,000,000.00 |
STATE BANK OF |
SPL. SSI BRANCH. PEENYA
INDUSTRAIL AREA, |
- |
|
5 |
90199812 |
29/03/2005 |
16,000,000.00 |
STATE BANK OF |
SSI BRANCH, PEENYA
INDUSATRIAL AREA, |
- |
|
6 |
80008006 |
03/07/2006 * |
20,000,000.00 |
STATE BANK OF |
SME BRANCH, PEENYA
INDUSTRIAL AREA, |
- |
|
7 |
80022226 |
06/02/2014 * |
189,825,000.00 |
STATE BANK OF |
SMALL AND |
B96165089 |
|
8 |
90197862 |
10/01/2005 * |
5,500,000.00 |
STATE BANK OF |
SPL. SSI BRANCH.
PEENYA INDUSTRAIL AREA, |
- |
|
9 |
90199390 |
10/01/2005 * |
5,500,000.00 |
STATE BANK OF |
SSI BRANCH, PEENYA
INDUSATRIAL, |
- |
|
10 |
90197559 |
28/02/2003 * |
8,300,000.00 |
STATE BANK OF |
SPL. SSI BRANCH.
PEENYA INDUSTRAIL AREA, |
- |
* Date of charge modification
FIXED ASSETS
·
·
· Plant and Machinery
· Furniture and Fixture
· Office Equipment
· Computer
· Vehicles
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.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
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.