MIRA INFORM REPORT
|
Report Date : |
24.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
PEC LIMITED (w.e.f. 25.11.1997) |
|
|
|
|
Formerly Known
As : |
THE PROJECTS AND EQUIPMENT CORPORATION OF INDIA LIMITED |
|
|
|
|
Registered
Office : |
Hansalaya, 15, Barakhamba Road, New Delhi - 110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.04.1971 |
|
|
|
|
Com. Reg. No.: |
55-005600 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 600.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1971GOI005600 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELP00390F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACT0101G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Export and Importer of agricultural, industrial and engineering products etc. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 14480000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a public sector undertaking under ministry of Commerce and
Industry, Department of Commerce, Government of India. It is a well-established company having a fine track record. Financial position of the company is sound and healthy. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
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 India plant only for the domestic
market.
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 India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
(A-) Fund Based Facilities |
|
Rating Explanation |
Adequate degree of safety. It carry low credit risk. |
|
Date |
May 2012 |
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. Suresh Banka |
|
Designation : |
Senior Accounts Manager |
|
Contact No.: |
91-11-23315507 |
|
Date : |
23.06.2014 |
LOCATIONS
|
Registered/ Head Office : |
Hansalaya, 15, Barakhamba Road, New Delhi - 110001, India |
|
Tel. No.: |
91-11-23313619/ 23316372/ 23316397/ 23315506 |
|
Fax No.: |
91-11-23315279/ 23314797/ 23313664/ 23315506 |
|
E-Mail : |
pec@peclimited.com |
|
Website : |
|
|
|
|
|
Branch Office : |
Located At :
|
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Arun Kumar Mirchandani |
|
Designation : |
Managing Director |
|
Address : |
C – 52, |
|
Date of Birth/Age : |
12.09.1957 |
|
Date of Appointment : |
01.07.2007 |
|
PAN No.: |
AAAPM0615A |
|
Voter ID No.: |
DL/02/009/204589 |
|
DIN No.: |
00359522 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1971GOI005600 |
PEC LIMITED |
Managing
director |
01/07/2007 |
28/02/2007 |
Active |
NO |
|
Name : |
Mr. Santosh Kumar |
|
Designation : |
Director |
|
Address : |
21, ICISA Complex, A-52, Sector-62, Noida, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.07.1972 |
|
Date of Appointment : |
22.02.2013 |
|
Date of Cessation : |
12.12.2013 |
|
DIN No.: |
06533523 |
|
|
|
|
Name : |
Mrs. Aditi Das Rout |
|
Designation : |
Director |
|
Address : |
D-508, Purvasha Anand Lok Society, Mayur Vihar, Phase-I, New Delhi -
110091, |
|
Date of Birth/Age : |
17.11.1963 |
|
Date of Appointment : |
30.03.2010 |
|
DIN No.: |
03049172 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1971GOI005600 |
PEC LIMITED |
Director |
30/03/2010 |
30/03/2010 |
Active |
NO |
|
2 |
U85110KA1982GOI005013 |
STCL LIMITED |
Director |
30/03/2010 |
30/03/2010 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Kumar Monga |
|
Designation : |
Secretary |
|
Address : |
WZ 15C, Ugarsain Market, Ashok Nagar, New Delhi-110018, |
|
Date of Birth/Age : |
27.07.1954 |
|
Date of Appointment : |
01.12.1997 |
|
PAN No.: |
AAIPM8172B |
|
|
|
|
Name : |
Mr. Suresh Banka |
|
Designation : |
Senior Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
The President of India |
5999998 |
100.00 |
|
Arun Kumar Mirchandani (as a nominee of the President of
India) |
1 |
0.00 |
|
Aditi Das Rout (as a nominee of the President of India) |
1 |
0.00 |
|
TOTAL |
6,000,000 |
100.00 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Government [Central and State] |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of agricultural, industrial
and engineering products etc. |
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Products : |
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Exports : |
|
||||||||
|
Products : |
Finished Goods |
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|
Countries : |
· Bangladesh · Ghana · Sri Lanka · Germany · Europe |
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Imports : |
|
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|
Products : |
Raw Material |
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Countries : |
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Terms : |
|
||||||||
|
Selling : |
Cash, Credit |
||||||||
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|
||||||||
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||
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|
|
||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Bankers : |
· Indian Bank, New Delhi Main Branch, G-41, Connaught Circus, New Delhi – 110001, India Tel. No.: 91-11-25720314 · Axis Bank Limited, 4/10, OPG House, Asaf Ali Road, New Delhi-110002, India ·
DBS
Bank Limited, Upper Ground Floor, Birla Tower, 25, Barakhamba Road, New Delhi
-110001, India ·
United
Bank of India, Overseas (Delhi) Branch, HS-32, Kailash Colony Market, Kailash
Colony, New Delhi - 110048, India · Syndicate Bank, International Business Branch, F-40, Connaught Place, New Delhi – 110001, India · State Bank of Travancore, Parliament Street Branch, New Delhi - 110001, India · Canara Bank, B-39, Con. Circus, Overseas Branch, New Delhi – 110001, India |
||||||||||||||||||
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Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J. P., Kapur and Uberai Chartered Accountants |
|
Address: |
Lower Ground Floor, C-4/5, Safdarjung Development Area, New Delhi -110016, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFJ0616B |
|
|
|
|
Related Parties : |
Tea Trading Corpn of India Limited CIN No.: U51226WB1971PLC028174 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs.100/- each |
Rs. 600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs.100/- each |
Rs. 600.000 Millions |
|
|
|
|
|
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 |
600.000 |
200.000 |
200.000 |
|
(b) Reserves & Surplus |
3020.387 |
3276.325 |
2655.141 |
|
(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) |
3620.387 |
3476.325 |
2855.141 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
102.771 |
98.326 |
0.000 |
|
Total Non-current
Liabilities (3) |
102.771 |
98.326 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2240.908 |
0.000 |
1940.000 |
|
(b) Trade
payables |
42366.971 |
48762.351 |
48271.262 |
|
(c) Other
current liabilities |
5062.877 |
5891.700 |
6097.623 |
|
(d) Short-term
provisions |
225.307 |
183.067 |
1327.731 |
|
Total Current
Liabilities (4) |
49896.063 |
54837.118 |
57636.616 |
|
|
|
|
|
|
TOTAL |
53619.221 |
58411.769 |
60491.757 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
7.355 |
8.213 |
8.442 |
|
(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 |
4.001 |
4.001 |
4.000 |
|
(c) Deferred tax assets (net) |
124.956 |
115.129 |
109.937 |
|
(d) Long-term Loan and Advances |
23.734 |
12.332 |
11.195 |
|
(e) Other
Non-current assets |
0.902 |
0.701 |
129.320 |
|
Total Non-Current
Assets |
160.948 |
140.376 |
262.894 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6922.025 |
8087.877 |
14742.876 |
|
(c) Trade receivables |
34355.553 |
38385.184 |
35685.068 |
|
(d) Cash
and cash equivalents |
3472.121 |
4655.988 |
3120.029 |
|
(e)
Short-term loans and advances |
8518.813 |
6905.629 |
6408.470 |
|
(f) Other
current assets |
189.761 |
236.715 |
272.420 |
|
Total Current
Assets |
53458.273 |
58271.393 |
60228.863 |
|
|
|
|
|
|
TOTAL |
53619.221 |
58411.769 |
60491.757 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
116490.200 |
110413.530 |
99699.448 |
|
|
|
Other Income |
NA |
NA |
7034.531 |
|
|
|
TOTAL (A) |
NA |
NA |
106733.979 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
105269.975 |
|
|
|
Salary and Allowances |
|
|
266.863 |
|
|
|
Administrative Expenses |
|
|
122.697 |
|
|
|
Payment to Auditors |
|
|
1.406 |
|
|
|
Bad Debts |
|
|
0.000 |
|
|
|
Provision for Doubtful Debts |
|
|
1.753 |
|
|
|
TOTAL (B) |
NA |
NA |
105662.694 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
1071.285 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
1071.285 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
5.637 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ADJUSTMENT |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1130.730 |
1185.330 |
1065.648 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
161.180 |
389.810 |
356.467 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
969.550 |
795.520 |
709.181 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
10759.900 |
10650.422 |
|
|
|
Other Earnings |
|
2.200 |
2.169 |
|
|
TOTAL EARNINGS |
30271.100 |
10762.100 |
10652.591 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
65216.600 |
74865.900 |
85944.918 |
|
|
|
Foreign tours |
6.400 |
5.100 |
3.769 |
|
|
|
Others |
583.400 |
626.400 |
367.616 |
|
|
TOTAL IMPORTS |
65806.400 |
75497.400 |
86316.303 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
161.59 |
397.76 |
354.59 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
100000.000 |
|
|
|
|
|
The above information has been parted by Mr. Suresh Banka.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
0.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.97
|
1.07
|
1.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.11
|
2.03
|
1.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.34
|
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.62
|
0.00
|
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.074
|
1.06
|
1.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
200.000 |
200.000 |
600.000 |
|
Reserves & Surplus |
2,655.141 |
3,276.325 |
3,020.387 |
|
Net
worth |
2,855.141 |
3,476.325 |
3,620.387 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1,940.000 |
0.000 |
2,240.908 |
|
Total
borrowings |
1,940.000 |
0.000 |
2,240.908 |
|
Debt/Equity
ratio |
0.679 |
0.000 |
0.619 |
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
99,699.448 |
110,413.530 |
116,490.200 |
|
|
|
10.746 |
5.504 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
(INR) |
|
Sales |
99,699.448 |
110,413.530 |
116,490.200 |
|
Profit |
709.181 |
795.520 |
969.550 |
|
|
0.71% |
0.72% |
0.83% |
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
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10487886 |
02/04/2014 |
3,000,000,000.00 |
ORIENTAL BANK OF COMMERCE |
ORIENTAL BANK OF COMMERCE, M-33 GREATER KAILASH PART-2, NEW DELHI, DELHI - 110048, INDIA |
C02224996 |
|
2 |
10368070 |
06/07/2012 |
1,000,000,000.00 |
DBS Bank Ltd |
UPPER GROUND FLOOR, BIRLA TOWER, 25, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B44702108 |
|
3 |
10296122 |
19/02/2013 * |
9,000,000,000.00 |
INDIAN BANK |
NEW DELHI MAIN BRANCH, G-41, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
B70292164 |
|
4 |
10225645 |
31/05/2010 |
3,000,000,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE BRANCH, 5 JEEVAN TARA BUILDING,, |
A88084496 |
|
5 |
10194379 |
22/12/2009 |
500,000,000.00 |
STATE BANK OF INDORE |
COMMERCIAL BRANCH,, M-47, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
A76487941 |
|
6 |
10148641 |
24/01/2013 * |
7,000,000,000.00 |
UNITED BANK OF INDIA |
OVERSEAS (DELHI) BRANCH, HS-32, KAILASH COLONY MA |
B69164382 |
|
7 |
10123144 |
10/12/2009 * |
7,000,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH,, CHANDRALOK BUILDING, 36, JANPATH ,, NEW DELHI, DELHI - 110001, INDIA |
A75347849 |
|
8 |
10123434 |
01/02/2011 * |
10,000,000,000.00 |
CORPORATION BANK OVERSEAS BRANCH |
M-93,CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
B05490198 |
|
9 |
10079211 |
12/02/2008 * |
3,000,000,000.00 |
IDBI LIMITED |
SURYA KIRAN BUILDING, 11TH FLOOR, K. G. MARG, NEW |
A35083799 |
|
10 |
10058259 |
24/12/2009 * |
6,040,000,000.00 |
INDIAN OVERSEAS BANK |
7, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
A78008984 |
|
11 |
10013266 |
20/03/2013 * |
5,000,000,000.00 |
STATE BANK OF TRAVANCORE |
PARLIAMENT STREET BRANCH, NEW DELHI, DELHI - 110001, INDIA |
B72480692 |
|
12 |
80027375 |
24/05/2011 * |
8,000,000,000.00 |
Bank of Baroda |
CORPORATE FINANCIAL SERVICES (LARGE CORPORATE) BR., 16, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B14767081 |
|
13 |
90043932 |
27/12/2013 * |
15,000,000,000.00 |
Syndicate Bank |
INTERNATIONAL BUSINESS BRANCH, F-40, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B94318359 |
|
14 |
80044476 |
12/01/2010 * |
450,000,000.00 |
SOCIETE GENERALE |
6TH FLOOR, MOHANDEV, 13, TOLSTOY MARG, NEW DELHI, |
A77857753 |
|
15 |
90043544 |
12/09/2008 * |
7,900,000,000.00 |
PUNJAB NATIONAL BANK |
ECE HOUSE, K. G. MARG, NEW DELHI, DELHI - 110001, INDIA |
A46506481 |
|
16 |
90043066 |
29/07/2004 * |
750,000,000.00 |
ICICI BANK LTD. |
9A; CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
- |
|
17 |
90042602 |
20/12/2013 * |
4,000,000,000.00 |
Vijaya Bank |
17,BARAKHAMBA ROAD BRANCH, VIJAYA BANK, NEW DELHI, DELHI - 110001, INDIA |
B96184882 |
|
18 |
80033630 |
10/03/2004 * |
4,000,000,000.00 |
INDIAN OVERSEAS BANK |
TOLSTOY MARG BRNCH, NEW DELHI, DELHI - 110001, INDIA |
- |
|
19 |
80033629 |
10/03/2004 * |
4,200,000,000.00 |
INDIAN OVERSEAS BANK |
TOLSTOY MARG BRANCH , NEW DELHI, DELHI - 110001, INDIA |
- |
|
20 |
90040244 |
04/07/2008 * |
25,000,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH, JAWAHAR VYAPAR BHAWAN, NO. 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
A42498402 |
|
* Date of charge modification |
||||||
GENERAL INFORMATION
The Company is incorporated and domiciled in India and a public sector undertaking under the administrative control of Ministry of Commerce and Industry, Government of India. The registered office of the Company is “Hansalaya”, 15, Barakhamba Road, New Delhi. The company also has branch offices at various places across India.
The principal activities of the Company are trading of agricultural, industrial and engineering products etc.
The Company's trade activities spans across various countries.
BUSINESS
The company continues to evolve its business with the changing times. PEC has also strengthened its core business in agro commodities, industrial raw material, bullion, engineering and manufactured goods.
Sales turnover for the year grew by 5.5 per cent to Rs.116490.000 millions. However, profit before tax at Rs.1130.730 millions was lower by 4.6 per cent as compared to last year due to write off of bad debt.
While Export turnover during the year tripled over last year, import and domestic sales decreased by 15 and 7.7 per cent respectively.
EXPORTS
Export sales turnover during the year reached Rs.30291.200 millions.
Their agro exports have increased significantly. During the year, PEC exported wheat, rice, soya meal and maize. The major contributor was wheat valued at Rs.21919.000 millions.
PEC executed contracts for supply of line hardware, cables and conductors, insulators, steel wires, etc. to Ethiopia, Kenya, Liberia, Nepal and Bhutan.
Other major exports during the year include supply of ferro chrome and billets.
IMPORTS
PEC achieved import turnover of Rs.69605.090 millions during the year. Coal and coke, manganese and iron ore, steel scraps and coils, bullion and diamonds were major items of import during the year. Major agro import during the year were edible oils, pulses, peas and corn.
AWARDS AND
RECOGNITION
In 2012-13, they received Award for Export Excellence for 2010-11 by Engineering Export Promotion Council (Northern Region).
CONTINGENT LIABILITIES
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
(i) Guarantees issued by banks on behalf of the Company |
14.574 |
57.883 |
|
(ii)Letters of Credits opened with banks (As certified by banks and management) |
285.569 |
421.345 |
|
(iii) Bill Discounting under Local L/Cs |
28.256 |
21.070 |
|
|
|
|
|
Claims against the Company due to legal cases not acknowledged as Debts (excluding legal cases where amounts are unascertainable) |
14.018 |
10.279 |
|
|
|
|
|
Demands in respect of Statutory Liabilities against which the Company or the concerned Department has preferred an Appeal |
0.552 |
0.542 |
|
Total |
342.969 |
511.119 |
FIXED ASSETS
v
Tangible
Assets
· Buildings
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other equipments
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. 60.19 |
|
|
1 |
Rs. 102.56 |
|
Euro |
1 |
Rs. 81.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
58 |
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.