MIRA INFORM REPORT
|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRINCE PIPES AND FITTINGS PRIVATE LIMITED |
|
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|
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Registered Office : |
Plot No.1, Honda Industrial Estate, Phase II, Honda Sattari, Honda –
403530, Goa |
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Country : |
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|
Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
13.11.1987 |
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Com. Reg. No.: |
24-006287 |
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Capital Investment / Paid-up Capital : |
Rs.240.040
Millions |
|
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|
|
CIN No.: [Company
Identification No.] |
U26932GA1987PTC006287 |
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|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP06179F |
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|
|
PAN No.: [Permanent
Account No.] |
AAACP2319J |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business : |
Manufacturer and Exporter of Plastic Pipes, Fittings and Valves. |
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No. of Employees : |
1700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 a satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. 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.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had willfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans = BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
February, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund Based Limits = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk. |
|
Date |
February, 2014 |
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Rupesh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66022222 |
|
Date : |
05.11.2014 |
LOCATIONS
|
Registered Office : |
Plot No.1, Honda Industrial Estate, Phase II, Honda Sattari, Honda –
403530, Goa, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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|
Admin Office : |
The Ruby, 8th Floor, 29, Senapati Bapat Marg (Tulsi Pipe Road),
Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-66022222 |
|
Fax No.: |
91-22-66022220 |
|
E-Mail : |
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|
|
Factory 1 : |
Athal Road, Village Athal, Survey No.132/1/1/3, Naroli,
Silvassa – 396235, Dadra and Nagar Haveli, U.T, India |
|
Tel. No.: |
91-260-2640007 |
|
Fax No.: |
91-260-2640082 |
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|
|
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Factory 2 : |
Jayant Desai Marg, Survey No.53 and 92, Vaghdhra Road, Dadra
– 396191, U.T, India |
|
Tel. No.: |
91-260-2668091 |
|
Fax No.: |
91-260-2668090 |
DIRECTORS
AS ON 25.09.2013
|
Name : |
Mr. Jayant Shamji Chheda |
|
Designation : |
Managing director |
|
Address : |
Room No.1001, Mount Blanc, Plot No.550, Jame Jamshed Road, Matunga-CR,
Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1946 |
|
Qualification : |
Inter Arts |
|
Experience : |
45 Years |
|
Date of Appointment : |
13.11.1987 |
|
PAN No.: |
AABPC1336Q |
|
Voter ID No.: |
MT-06-033-081800 |
|
DIN No.: |
00013206 |
|
|
|
|
Name : |
Mr. Parag Jayant Chheda |
|
Designation : |
Whole time director |
|
Address : |
Room No.1002, Mount Blanc, Plot No.550, Jame Jamshed Road, Matunga-CR,
Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1971 |
|
Qualification : |
Associate in Business Administration |
|
Experience : |
18 Years |
|
Date of Appointment : |
27.04.1996 |
|
PAN No.: |
AABPC3944L |
|
Voter ID No.: |
MT-06-033-081710 |
|
DIN No.: |
00013222 |
|
|
|
|
Name : |
Mr. Vipul Jayant Chheda |
|
Designation : |
Director |
|
Address : |
Room No.1001, Mount Blanc, Plot No.550, Jame Jamshed Road, Matunga-CR,
Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1975 |
|
Qualification : |
B. Com |
|
Experience : |
15 Years |
|
Date of Appointment : |
11.03.1997 |
|
PAN No.: |
AABPC3945M |
|
Voter ID No.: |
MT-06-033-081688 |
|
DIN No.: |
00013234 |
KEY EXECUTIVES
|
Name : |
Mr. Rupesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 25.09.2013
|
Names of Shareholders |
No. of Shares |
|
Jayant Shamji Chheda |
1920000 |
|
Parag Jayant Chheda |
7199200 |
|
Vipul Jayant Chheda |
7200000 |
|
Tarla Jayant Chheda |
7656000 |
|
Jayant Shamji Chheda (HUF) |
24000 |
|
Prince Multiplast Private Limited, |
800 |
|
Pinnacle Realty Projects Private Limited Formerly known as Pinnacle Electronics Private Limited |
800 |
|
Heena Parag Chheda |
2354 |
|
Ashwini Vipul Chheda |
800 |
|
|
|
|
Total |
24003954 |
AS ON 25.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
99.99 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Plastic Pipes, Fittings and Valves. |
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Products : |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash, L/C and Cheque |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
1700 (Approximately) |
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Bankers : |
· Indian Overseas Bank Fort Branch, Tamarind House, 30 & 32, Tamarind Lane, Fort, Mumbai – 400023, Maharashtra, India · Bank of India Mumbai Mid Corporate, 70/80, M.G. Road, Bank of India Building, Mezzanine Floor, Fort, Mumbai – 400001, Maharashtra, India
· ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India · The Federal Bank Limited Corporate Banking Branch, 1st Floor, 32, Bombay Samachar Marg, Mumbai – 400001, Maharashtra, India · HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India · ABN Amro Bank N.V. 74, Sakhar Bhavan, 7th Floor, Nariman Point, Mumbai – 400021, Maharashtra, India · Standard Chartered Bank Narain Manzil, 23, Barakhamba Road, New Delhi, Delhi - 110001, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
L.D. Joshi and Associates Chartered Accountants |
|
Address : |
2-G, Court
Chambers, 2nd Floor, (Behind Income Tax Office), 35, New Marine
Lines, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22023058 |
|
Fax No.: |
91-22-22005568 |
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PAN
No.: |
AAAPJ4824F |
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Associate Companies : |
· Prince Marketing · Pinnacle Realty Projects Private Limited [U31300DD1999PTC002689] · Ace Polyplast Private Limited [U17210GA2007PTC006572] |
CAPITAL STRUCTURE
AFTER 25.09.2013
Authorised Capital : Rs. 500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 480.079
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24003954 |
Equity Shares |
Rs.10/- each |
Rs.240.040 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 |
240.040 |
120.020 |
120.012 |
|
(b) Reserves & Surplus |
865.837 |
595.242 |
589.868 |
|
(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) |
1,105.877 |
715.262 |
709.880 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1,143.752 |
626.093 |
486.566 |
|
(b) Deferred tax liabilities (Net) |
133.180 |
119.241 |
99.873 |
|
(c) Other long term
liabilities |
72.483 |
55.352 |
0.000 |
|
(d) long-term
provisions |
65.328 |
54.853 |
43.320 |
|
Total Non-current
Liabilities (3) |
1,414.743 |
855.539 |
629.759 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1,371.503 |
1,168.781 |
1,062.995 |
|
(b) Trade
payables |
836.436 |
668.920 |
246.643 |
|
(c) Other
current liabilities |
532.116 |
395.788 |
383.434
|
|
(d) Short-term
provisions |
103.532 |
20.066 |
37.576
|
|
Total Current
Liabilities (4) |
2,843.587 |
2,253.555 |
1,730.648 |
|
|
|
|
|
|
TOTAL |
5,364.207 |
3,824.356 |
3,070.287 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2,107.260 |
1,547.220 |
1,205.180 |
|
(ii)
Intangible Assets |
51.641 |
6.674 |
6.809 |
|
(iii)
Capital work-in-progress |
48.213 |
48.688 |
15.821 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
8.759 |
8.566 |
9.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.004 |
1.006 |
334.845 |
|
(e) Other
Non-current assets |
45.210 |
20.403 |
10.639 |
|
Total Non-Current
Assets |
2,262.087 |
1,632.557 |
1,582.494 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1,227.688 |
805.943 |
514.764
|
|
(c) Trade
receivables |
1,503.536 |
1,095.509 |
722.187
|
|
(d) Cash
and cash equivalents |
68.255 |
69.986 |
43.060
|
|
(e)
Short-term loans and advances |
254.336 |
167.875 |
170.972
|
|
(f) Other
current assets |
48.305 |
52.486 |
36.810
|
|
Total
Current Assets |
3,102.120 |
2,191.799 |
1,487.793 |
|
|
|
|
|
|
TOTAL |
5,364.207 |
3,824.356 |
3,070.287 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
8530.749 |
5655.481 |
4457.149 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
711.908 |
260.080 |
316.563 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
211.322 |
159.350 |
125.840 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
500.586 |
100.730 |
190.723 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
117.473 |
23.333 |
52.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
383.113 |
77.397 |
138.684 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Earnings |
NA |
NA |
34.822 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.96 |
7.23 |
11.56 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
4.49 |
1.37 |
3.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.43 |
2.67 |
6.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
0.14 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.27 |
2.51 |
2.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
0.97 |
0.86 |
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 |
120.012 |
120.020 |
240.040 |
|
Reserves & Surplus |
589.868 |
595.242 |
865.837 |
|
Net
worth |
709.880 |
715.262 |
1105.877 |
|
|
|
|
|
|
long-term borrowings |
486.566 |
626.093 |
1143.752 |
|
Short term borrowings |
1062.995 |
1168.781 |
1371.503 |
|
Total
borrowings |
1549.561 |
1794.874 |
2515.255 |
|
Debt/Equity ratio |
2.183 |
2.509 |
2.274 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4457.149 |
5655.481 |
8530.749 |
|
|
|
26.886 |
50.840 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4457.149 |
5655.481 |
8530.749 |
|
Profit |
138.684 |
77.397 |
383.113 |
|
|
3.11% |
1.37% |
4.49% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
259.504 |
252.630 |
237.775 |
|
|
|
|
|
|
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) |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10449047 |
16/01/2014 * |
2,212,500,000.00 |
BANK OF INDIA |
MUMBAI MID CORPORATE,
70/80, M.G. ROAD, BOI BUILDING, MEZZANINE FLOOR, FORT, MUMBAI,
MAHARASHTRA |
B98281249 |
|
2 |
10449048 |
16/01/2014 * |
2,212,500,000.00 |
BANK OF INDIA |
MUMBAI MID CORPORATE,
70/80, M.G. ROAD, BOI BUILDING, MEZZANINE FLOOR, FORT, MUMBAI,
MAHARASHTRA |
B98283682 |
|
3 |
10432364 |
27/06/2014 * |
500,000,000.00 |
STANDARD
CHARTERED BANK |
NARAIN MANZIL, 23,
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
C14541742 |
|
4 |
10241068 |
06/09/2010 |
200,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A95161980 |
|
5 |
10241779 |
06/09/2010 |
150,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A95429148 |
|
6 |
10217141 |
24/09/2010 * |
460,000,000.00 |
THE FEDERAL BANK
LIMITED |
CORPORATE BANKING
BRANCH,1ST FLOOR, 32,BOMBAY SAMACHAR MARG,FORT, MUMBAI, MAHARASHTRA - 400001,
INDIA |
A98571458 |
|
7 |
10216211 |
16/01/2014 * |
638,889,000.00 |
INDIAN OVERSEAS
BANK |
FORT BRANCH,
TAMARIND HOUSE, 30 & 32, TAMARIND LANE, FORT, MUMBAI, MAHARASHTRA -
400023, INDIA |
B98513971 |
|
8 |
10164208 |
03/05/2011 * |
783,200,000.00 |
INDIAN OVERSEAS
BANK |
FORT BRANCH,
TAMARIND HOUSE, 30 & 32, GROUND FLOOR, TAMARIND LANE, MUMBAI, MAHARASHTRA
- 400023, INDIA |
B14299952 |
|
9 |
10156888 |
14/02/2014 * |
2,212,500,000.00 |
BANK OF INDIA |
MUMBAI MID
CORPORATE, 70/80, M.G. ROAD, BANK OF INDIA BUILDING, MEZZANINE FLOOR,
FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B98292675 |
|
10 |
10143642 |
18/02/2009 |
100,000,000.00 |
3I INFOTECH
TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH
FLOOR, INTERNATIONAL INFOTECH PARK,, TOWER NO.5, VASHI RAILWAY STATION
COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A57126385 |
|
11 |
10143644 |
18/02/2009 |
80,000,000.00 |
3I INFOTECH
TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH
FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION
COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A57126963 |
|
12 |
10141343 |
09/02/2009 |
32,000,000.00 |
3I INFOTECH TRUSTEESHIP
SERVICES LIMITED |
3RD TO 6TH
FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION
COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A55953046 |
|
13 |
10145128 |
12/08/2013 * |
500,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B86204401 |
|
14 |
10145135 |
16/01/2014 * |
91,340,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B98020266 |
|
15 |
10090673 |
01/03/2008 |
30,000,000.00 |
3I INFOTECH
TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH
FLOOR, INTERNATIONAL INFOTECH PARK,, TOWER NO.5, VASHI RAILWAY STATION
COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A33533720 |
|
16 |
10058035 |
15/12/2006 |
128,200,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A09086471 |
|
17 |
10104991 |
31/07/2006 |
40,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A06030829 |
|
18 |
10008147 |
15/05/2006 |
80,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH (MUMBAI), N.G.N. VAIDYA MARG, FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
A01346717 |
|
19 |
10008434 |
07/03/2006 |
170,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A01786581 |
* Date of charge modification
UNSECURED LOANS:
|
PARTICULARS |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Loans and Advances
from Directors |
244.335 |
154.324 |
|
Loans and
Advances from others |
8.214 |
7.367 |
|
Other loans and
Advances |
10.265 |
13.121 |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and
Advances |
509.220 |
327.577 |
|
|
|
|
|
Total |
772.034 |
502.389 |
CHANGE OF ADDRESS
The Registered Office of the company has been shifted from Ruby House, 4th
Floor, B Wing, J.K. Sawant Marg, Dadar (West), Mumbai – 400028, Maharashtra,
India to the present address w.e.f.13.01.2010.
MERGER
The Jurisdictional High Courts have approved the Merger of M/s Kenson
Manufacture Private Limited with M/s Prince Pipes and Fittings Private Limited
on 7th December, 2012 with effect from 1st April, 2010. As a result, necessary
effects have been given in the financial statements for the Financial Year
2010-11 and 2011-12.
ACQUISITION OF TWO
PLANTS IN CHENNAI AND KOLHAPUR OF TRUBORE PIPING SYSTEMS
The Company has acquired South Indian PVC pipe maker Trubore Piping
Systems, a division of Chemplast Sanmar Limited through a slump sale for
Rs.683.600 Millions. Trubore Piping Systems founded in 2006 by Chemplast Sanmar
Limited designs and makes a full range of casing, agriculture and bore-well
pipes. It has added a Greenfield pipes facility at Shinoli, Maharashtra. The
acquisition is targeted to provide Prince Pipes with scale and mass in the
Southern region to enhance its product segments and add to the distribution
network along with cross selling opportunities.
PERFORMANCE OF THE
COMPANY
The financial year 2012 - 13 is yet another year of significant growth.
During the year, the Company has achieved a turnover of Rs. 8530.749 Millions
as against Rs. 5655.481 Millions in the previous year, which is 50.84% higher
as compared to the previous year. The net profit after tax was Rs. 383.113
Millions as against Rs. 77.397 Millions in the previous year.
FUTURE OUTLOOK
The Company has continuous growth in the turnover and is planning to
increase the capacity by additional investment in plant and machineries to meet
the market requirements.
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Electrical Installation
· Computer
· Moulds and Dies
· Office Equipments
· Furniture and Fixtures
· 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. 61.39 |
|
|
1 |
Rs. 98.00 |
|
Euro |
1 |
Rs. 76.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.