MIRA
INFORM REPORT
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Report No. : |
306785 |
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Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
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Name : |
PRISTINE SWITCHGEARS INDIA PRIVATE LIMITED |
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Registered
Office : |
6, Continental Chambers, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.02.2008 |
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Com. Reg. No.: |
131437 |
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Capital
Investment / Paid-up Capital : |
Rs. 37.120 Millions |
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CIN No.: [Company Identification
No.] |
U31504PN2008PTC131437 |
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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
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Manufacturer of Voltage Switchgears Panels. |
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No. of Employees
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Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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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 : |
Exist |
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Comments : |
Subject is an established company having moderate track. The management has failed to file its financial with government
department for the year 2014. As per available financial records of 2013, the ratings reflect PSIPL’s weak financial risk profile marked by modest
scale of operations in the intensely competitive switchgear panel
manufacturing industry and leverage capital structure of the company. However, trade relations are fair. Business is active. Payments are
reported to be 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
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Rating Agency Name |
CRISIL |
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Rating |
Long term rating = B |
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Rating Explanation |
Risk-prone-credit-quality and carries very high credit risk. |
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Date |
04.09.2013 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating = A4 |
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Rating Explanation |
Minimal degree of safety and very high credit risk. |
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Date |
04.09.2013 |
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 BY
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Name : |
Mr. Ashish Korde |
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Designation : |
Director |
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Contact No.: |
91-9561226593 |
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Date : |
06.02.2015 |
LOCATIONS
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Registered Office : |
6, Continental Chambers, Karve Road, Pune – 411004, Maharashtra, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9561226593 (Mr. Ashish Korde) |
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Fax No.: |
Not Available |
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E-Mail : |
umesh.kurambhatti@pristineswitchgear.com rahul.korde@pristineswitchgear.com |
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Website : |
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Factory : |
Gat No.-1295-1-10,1140,1122,1129, Village - Shirval, Taluka - Khandala, |
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Tel. No.: |
91- 21 69244156 |
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Branch Office : |
Located At : · Mumbai · Hyderabad · Pune |
DIRECTORS
As on 30.09.2013
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Name : |
Mousami Ashish Korde |
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Designation : |
Director |
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Address : |
H-38, Swapnashilp, Ganesh
Nagar, Karve Nagar, Pune – 411052, Maharashtra, India
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Date of Birth/Age : |
07.11.1976 |
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Date of Appointment : |
18.02.2008 |
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DIN No.: |
00437294 |
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Name : |
Ashish Madhukar Korde |
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Designation : |
Director |
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Address : |
H-38, Swapnashilp, Ganesh
Nagar, Karve Nagar, Pune – 411052, Maharashtra, India
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Date of Birth/Age : |
03.06.1972 |
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Date of Appointment : |
18.02.2008 |
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DIN No.: |
00452853 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
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Names of Shareholders |
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No. of Shares |
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Ashish Madhukar Korde |
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559898 |
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Mousami Ashish Korde |
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50000 |
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Pristine Engineers Private Limited, India |
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3002000 |
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Vaibhav Gandhi |
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100000 |
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Kantilal Gandhi HUF |
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100 |
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Pimple Manish |
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1 |
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Dalvi Girija |
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1 |
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Total |
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3712000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
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Category |
Percentage |
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Bodies corporate |
80.87 |
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Directors or relatives of Directors |
16.42 |
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Other top fifty shareholders |
2.71 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Voltage Switchgears Panels. |
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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 : |
Not Divulged |
PRODUCTION STATUS :NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
· Canara Bank, Camp Branch, 11, M. G. Road, Pune, Maharashtra, India · Canara Bank, 3rd Floor, Red Cross Building, Pune - 411001, Maharashtra, Pune |
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PRISTINE
TRANSFORMERS INDIA PRIVATE LIMITED Facilities : |
Note : Long-term Borrowings Term loans from bank is secured against assets of the company and
corporate guarantee issued by parent company Pristine Engineers Private
Limited. Term loans from Bank is also additionally secured by collateral
security of personal property of the directors as well as personal guarantee
of directors. Short-term
borrowings Cash Credit is secured by hypothecation of stock and charge on debtors
of the company as well as other assets of the company and personal guarantee
and collateral security given by the directors. |
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Banking
Relations : |
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Auditors : |
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Name : |
S. D. Chaware and Company Chartered Accountants |
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Address : |
Office No. 5, Continental Chambers, Above Chinese Room, Karve
Road, Pune –
411004, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAUPC6514D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises under common
control with key which transaction have taken place during the year /
Subsidiary Company : |
Pristine Transformers India Private Limited U29200PN2012PTC144815 |
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Enterprises under common
control with key which transaction have taken place during the year / Holding
Company : |
Pristine Engineers Private Limited U51505PN2004PTC019106 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,000,000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3,712,000 |
Equity Shares |
Rs.10/- each |
Rs.37.120
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
37.120 |
37.120 |
37.120 |
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(b) Reserves &
Surplus |
34.202 |
19.377 |
13.347 |
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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) |
71.322 |
56.497 |
50.467 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
60.097 |
53.577 |
40.347 |
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(b) Deferred tax liabilities
(Net) |
0.844 |
0.646 |
0.282 |
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(c) Other long term
liabilities |
1.496 |
1.185 |
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) |
62.437 |
55.408 |
40.629 |
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(4) Current Liabilities |
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(a) Short term borrowings |
120.207 |
64.596 |
38.675 |
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(b) Trade payables |
217.004 |
189.688 |
116.633 |
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(c) Other current
liabilities |
55.339 |
50.645 |
23.938 |
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(d) Short-term provisions |
7.234 |
2.535 |
4.656 |
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Total Current Liabilities
(4) |
399.784 |
307.464 |
183.902 |
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TOTAL |
533.543 |
419.369 |
274.998 |
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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 |
117.727 |
126.479 |
35.431 |
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(ii) Intangible Assets |
6.082 |
2.819 |
0.000 |
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(iii) Capital
work-in-progress |
0.000 |
8.236 |
30.842 |
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(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current
Investments |
0.051 |
0.000 |
0.000 |
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(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
1.796 |
0.858 |
3.151 |
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(e) Other Non-current
assets |
25.234 |
31.457 |
14.041 |
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Total Non-Current Assets |
150.890 |
169.849 |
83.465 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
179.308 |
132.131 |
94.785 |
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(c) Trade receivables |
178.703 |
99.768 |
86.137 |
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(d) Cash and cash
equivalents |
2.927 |
4.624 |
6.995 |
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(e) Short-term loans and
advances |
21.715 |
10.180 |
3.099 |
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(f) Other current assets |
0.000 |
2.817 |
0.517 |
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Total Current Assets |
382.653 |
249.520 |
191.533 |
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TOTAL |
533.543 |
419.369 |
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