MIRA INFORM REPORT

 

 

Report No. :

329310

Report Date :

27.06.2015

 

IDENTIFICATION DETAILS

 

Name :

PACIFFIC SPIRITS PRIVATE LIMITED (w.e.f. 03.11.2014)

 

 

Formerly Known As :

PACIFIC SPIRITS PRIVATE LIMITED

 

 

Registered Office :

10 North Drive DLF Farms, Chhatarpur, New Delhi - 110030

Tel. No.:

91-9899500023 (Mr. Sanjay Jain)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

04.08.2006

 

 

Com. Reg. No.:

55-151628

 

 

Capital Investment / Paid-up Capital :

Rs. 41.116 Million

 

 

CIN No.:

[Company Identification No.]

U15510DL2006PTC151628

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELP15899C

 

 

PAN No.:

[Permanent Account No.]

AAECP0935C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of all kind of Country and Foreign made Alcoholic and Non-Alcoholic Food and Beverages Products including Whiskies, Wines, Beers, Spirits, Alcohols, Malt Hope, Aerated Water, Mineral water and all kind of Juices and other Drinks, etc.

 

 

No. of Employees :

Not divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 2250000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear 

 

 

Comments :

Even though the company was incorporated on 04th August 2006, it has recently commerce its business operations. It is having moderate track record.

 

Mr. Sanjay Jain, Director has provided information to us and claimed that company has started its business operations from March 2015.

 

As per the financial record of 2014, company has under taken trial run production activities and it has incurred loss of Rs. 10.435 Million.

 

However, trade relations are improving. Business is active. Payments are reported to be slow.

 

In view recent commencement of business operations along with very short history of business operations, the company can be considering for business dealing with great caution.

 

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, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Sanjay Jain

Designation :

Director

Contact No.:

91-9899500023

Date :

25.06.2015

 

 

 

LOCATIONS

 

Registered Office :

10 North Drive DLF Farms, Chhatarpur, New Delhi – 110030, India

Tel. No.:

Not Available

Mobile No.:

91-9899500023 (Mr. Sanjay Jain)

Fax No.:

Not Available

E-Mail :

mail@pacificspirits.in

Website :

http://www.pacificspirits.in

 

 

Factory :

111 KM Stone, Delhi – Jaipur Highway, NH 8, Shahjahanpur, Alwar – 301706,
Rajasthan, India

 

 

DIRECTORS

 

AS ON 27.09.2014

 

Name :

Mr. Alok Jain

Designation :

Director

Address :

C-12/9, DLF Phase - I, Gurgaon - 122002, Haryana, India

Date of Birth/Age :

09.10.1953

Date of Appointment :

27.03.2014

DIN No.:

03521447

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

Date of cessation

Company/ LLP Status

Defaulting status

1

U70109AS2010PTC010269

YUBRAJ DYNASTY REAL ESTATES PRIVATE LIMITED

Director

16/05/2011

16/05/2011

30/09/2012

Active

NO

2

U45400DL2007PTC161990

PACIFIC INFRABUILD PRIVATE LIMITED

Director

01/11/2011

01/11/2011

-

Active

NO

3

U70101DL2011PTC216985

EMOTIONS PROPERTIES PRIVATE LIMITED

Director

23/07/2012

23/07/2012

30/08/2012

Active

NO

4

U65924DL1991PLC045214

INDGLONAL INVESTMENT AND FINANCE LIMITED

Director

30/09/2013

27/09/2012

-

Active

NO

5

U15400DL2013PTC254603

STARBEV INDIA PRIVATE LIMITED

Director

30/09/2014

01/10/2013

10/01/2015

Active

NO

6

U15510DL2006PTC151628

PACIFFIC SPIRITS PRIVATE LIMITED

Director

27/03/2014

27/03/2014

-

Active

NO

 

 

Name :

Mr. Varun Jain

Designation :

Additional Director

Address :

10, DLF Farm Houses, Chhatar Pur, Delhi - 110030, India

Date of Birth/Age :

19.07.1988

Date of Appointment :

05.02.2015

DIN No.:

06360774

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

U67120DL1994PTC061986

GOLDEN GATE INVESTMENTS PORTFOLIO PRIVATE LIMITED

Director

28/12/2012

01/08/2012

Active

NO

2

U15400DL2013PTC254603

STARBEV INDIA PRIVATE LIMITED

Additional director

19/12/2014

19/12/2014

Active

NO

3

U15510DL2006PTC151628

PACIFFIC SPIRITS PRIVATE LIMITED

Additional director

05/02/2015

05/02/2015

Active

NO

 

 

Name :

Mr. Sanjay Jain

Designation :

Director

Address :

10 N D - DLF Farm Houses, Chhatar Pur Delhi, Delhi - 110030, India

Date of Birth/Age :

05.09.1957

Date of Appointment :

27.03.2014

DIN No.:

06408493

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

U45400DL2007PTC161990

PACIFIC INFRABUILD PRIVATE LIMITED

Director

01/11/2011

01/11/2011

Active

NO

2

U65924DL1991PLC045214

INDGLONAL INVESTMENT AND FINANCE LIMITED

Director

30/09/2013

27/09/2012

Active

NO

3

U15400DL2013PTC254603

STARBEV INDIA PRIVATE LIMITED

Director

30/09/2014

01/10/2013

Active

NO

4

U15510DL2006PTC151628

PACIFFIC SPIRITS PRIVATE LIMITED

Director

27/03/2014

27/03/2014

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 27.09.2014

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Indglonal Investment and Finance Limited, India

4101603

99.76

Sanjay Jain

6000

0.15

Alok Jain

4000

0.10

Total

 

4111603

100.00

 

 

 

 

 

 

 

 

 

AS ON 27.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

99.75

Directors or relatives of directors

0.25

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of all kind of Country and Foreign made Alcoholic and Non-Alcoholic Food and Beverages Products including Whiskies, Wines, Beers, Spirits, Alcohols, Malt Hope, Aerated Water, Mineral water and all kind of Juices and other Drinks, etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

 

Products :

Raw Materials

Countries :

Belgium

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

 

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Bank Name:

HDFC Bank Limited

Branch:

Not Divulged

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Punjab National Bank, Branch Navyug Market, Navyug Market, Ghaziabad – 201001, Uttar Pradesh, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loan (Against 1st Charge on Fixed Assets of the Company)

151.807

175.407

 

 

 

Total

 

151.807

175.407

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Ravi S. Srivastava and Company

Chartered Accountants

Address :

RZ  - 35, Subhash park, Gali No. 2, Extn 2, Uttamnagar, New Delhi – 110059, India

Income-tax PAN of auditor or auditor's firm :

AAHFR3806N

 

 

Holding Company :

Indglonal Investment and Finance Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4,120,000

Equity Shares

Rs. 10/- each

Rs. 41.200 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4,111,603

Equity Shares

Rs. 10/- each

Rs. 41.116 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

41.116

40.246

39.953

(b) Reserves & Surplus

720.476

714.375

757.945

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

24.700

25.480

7.050

Total Shareholders’ Funds (1) + (2)

786.292

780.101

804.948

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

151.807

175.407

176.425

(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

0.000

0.000

0.000

Total Non-current Liabilities (3)

151.807

175.407

176.425

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

12.289

(b) Trade payables

3.285

3.672

3.744

(c) Other current liabilities

21.406

2.776

23.916

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

24.691

6.448

39.949

 

 

 

 

TOTAL

962.790

961.956

1021.322

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

951.294

945.597

988.434

(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

0.725

0.860

1.298

(e) Other Non-current assets

 

 

 

Total Non-Current Assets

952.019

946.457

989.732

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

0.000

0.000

23.107

(d) Cash and cash equivalents

4.663

0.380

0.368

(e) Short-term loans and advances

6.105

15.113

8.106

(f) Other current assets

0.003

0.006

0.009

Total Current Assets

10.771

15.499

31.590

 

 

 

 

TOTAL

962.790

961.956

1021.322

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

NA

5.560

NA

 

 

Other Income

NA

0.018

NA

 

 

TOTAL                        

NA

5.578

NA

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

NA

NA

NA

 

 

 

 

 

Less

TAX                                                                 

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX

(10.435)

(49.133)

NA

 

 

 

 

 

 

Earnings (Loss) Per Share (Rs.)

(2.54)

(12.21)

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

 

 

 

 

Cash generated from operations

16.954

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin
(PAT / Sales)

(%)

NA

  883.69

 

NA

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.19

0.22

0.23

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.44

2.40

0.79

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

39.953

40.246

41.116

Reserves & Surplus

757.945

714.375

720.476

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

24.700

25.480

7.050

Net worth

822.598

780.101

768.642

 

 

 

 

Long-term borrowings

176.425

175.407

151.807

Short term borrowings

12.289

0.000

0.000

Total borrowings

188.714

175.407

151.807

Debt/Equity ratio

0.229

0.225

0.198

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last one year

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last two years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

CHANGE OF ADDRESS:

 

The Registered Office of the Company has been shifted from C – 144, 3rd Floor, Lajpat Nagar – I, New Delhi - 110024 India to the present address w.e.f. 01.08.2014.

 

 

FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and Equipment

·         Office Equipment

·         Computer and Software

·         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, India Prisons Service, Interpol, etc.

 

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.63.60

UK Pound

1

Rs.100.09

Euro

1

Rs.71.23

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

26

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.