MIRA INFORM REPORT
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Report No. : |
310889 |
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Report Date : |
13.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
PAREKH BRIGHT BARS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2000 |
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Date of
Incorporation : |
16.12.1988 |
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Com. Reg. No.: |
11-050061 |
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Capital
Investment / Paid-up Capital : |
Rs.8.850
Million |
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CIN No.: [Company Identification
No.] |
U27200MH1988PTC050061 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM26789A |
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PAN No.: [Permanent Account No.] |
AABCP4117F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Bright Bars of Various Carbon, Alloy and Stainless Steel Grades. (Dormant) |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Dormant |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
INFORMATION DENIED BY
|
Name : |
Madam Shilpa Parekh |
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Designation : |
Key Executive |
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Contact No.: |
91-8698842109 |
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Date : |
10.03.2015 |
LOCATIONS
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Registered Office/ Factory : |
18th Road, Plot No.116, Behind Orkay Mills, MIDC Andheri, Mumbai
– 400093, |
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Tel. No.: |
91-22-3881720 |
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Mobile No.: |
91-8698842109 (Madam Shilpa Parekh) |
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Fax No.: |
91-22-5163463 |
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E-Mail : |
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Website : |
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Corporate Office 1 : |
1303 |
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Tel No.: |
91-22-25160322/ 67901875/ 28310357/ 2560322 |
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Fax No.: |
91-22-25163463 |
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Mobile No.: |
91-9324657408 |
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Email : |
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Corporate Office 2 : |
32, Khetwadi, |
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Factory 2: |
C – 346, TTC Pawne, APMC Market Vashi, Navi Mumbai – 400705,
Maharashtra, India |
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Tel No.: |
91-22-27683682/ 27671557 |
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Factory 3 : |
Survey No. 107-0, 108-C, |
DIRECTORS
|
Name : |
Mr. Devidas C. Parekh |
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Designation : |
Director |
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Address : |
1203 |
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Date of Birth/Age : |
11.04.1934 |
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Date of Appointment : |
16.12.1988 |
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Name : |
Mr. Hitesh Parekh |
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Designation : |
Director |
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Address : |
1203 |
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Date of Birth/Age : |
26.01.1967 |
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Date of Appointment : |
16.12.1988 |
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Name : |
Mrs. Usha D. Parekh |
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Designation : |
Director |
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Address : |
1203 |
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Date of Birth/Age : |
05.03.1942 |
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Date of Appointment : |
28.12.1992 |
KEY EXECUTIVES
|
Name : |
Madam Shilpa Parekh |
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Designation : |
Key Executive |
MAJOR SHAREHOLDERS
As on 30.09.2000
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Devidas C. Parekh |
200500 |
34.04 |
|
Hitesh Parekh |
149000 |
25.30 |
|
Usha D. Parekh |
239500 |
40.66 |
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Total |
589000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2000
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Bright Bars of Various Carbon, Alloy and Stainless Steel Grades. (Dormant) |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
State Bank of India, MID Corporate Loan Administration Unit, R.T.O
Lane, Andheri West, Mumbai - 400053, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
R J Gandhi and Company Chartered Accountant |
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Address : |
Chandiodava, Plot No. 33, Block No. 2, 1st
Floor, |
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Tel No: |
91-22-25163069 |
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PAN No.: |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries (As on 31.03.2000) : |
Parekh Stainless Wire Private Limited |
CAPITAL STRUCTURE
As on 31.03.2000
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Million |
|
100000 |
Equity Shares |
Rs.13.50/- each |
Rs.1.350 Million |
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Total |
|
Rs.8.850 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2000 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
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|
8.850 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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|
5.569 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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14.419 |
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LOAN FUNDS |
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1] Secured Loans |
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26.064 |
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2] Unsecured Loans |
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|
6.043 |
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TOTAL BORROWING |
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32.107 |
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DEFERRED TAX LIABILITIES |
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0.326 |
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TOTAL |
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46.852 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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6.156 |
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Capital work-in-progress |
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|
0.000 |
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INVESTMENT |
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|
0.000 |
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DEFERRED TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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39.833 |
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Sundry Debtors |
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|
5.952 |
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Cash & Bank Balances |
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|
0.758 |
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Other Current Assets |
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15.278 |
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Loans & Advances |
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|
0.289 |
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Total
Current Assets |
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|
62.110 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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|
21.237 |
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Other Current Liabilities |
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|
0.000 |
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Provisions |
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|
0.178 |
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Total
Current Liabilities |
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21.415 |
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Net Current Assets |
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|
40.695 |
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MISCELLANEOUS EXPENSES |
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|
0.001 |
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TOTAL |
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46.852 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2000 |
31.03.1999 |
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Sales Turnover |
|
154.673 |
48.659 |
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Other Income |
|
0.000 |
0.000 |
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TOTAL INCOME |
|
154.673 |
48.659 |
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PROFIT/(LOSS) BEFORE TAX |
|
3.367 |
0.735 |
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Provision for Taxation |
|
0.000 |
0.000 |
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PROFIT/(LOSS) AFTER TAX |
|
3.367 |
0.735 |
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EXPENDITURES : |
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Cost of Goods Sold |
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Manufacturing Expenses |
|
17.390 |
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Office Expenses |
|
2.905 |
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Directors Remuneration |
|
0.105 |
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Interest and Financial Charges |
|
4.243 |
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Marketing Expenses |
|
0.084 |
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Depreciation & Amortization |
|
0.255 |
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TOTAL EXPENDITURES |
|
151.306 |
47.924 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2000 |
31.03.1999 |
|
PAT / Total Income |
(%) |
|
2.18 |
1.51 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
2.18 |
1.51 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.93 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.23 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
3.71 |
NA |
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Current Ratio (Current Asset/Current Liability) |
|
|
2.90 |
NA |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.1999 |
31.03.2000
|
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Sales |
|
48.659 |
154.673 |
|
|
|
|
217.871 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.1999 |
31.03.2000
|
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Sales
|
|
48.659 |
154.673 |
|
Profit |
|
0.735 |
3.367 |
|
|
|
1.51% |
2.18% |
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
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 |
Yes |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OBSERVATION POINTS
|
Name board : |
Not Sighted |
|
Location : |
Very Difficult |
|
Landmark (if any) :
|
Thane, MIDC |
|
Locality : |
Factory |
|
Area : |
Down Market |
|
Proof of visit : |
Photograph |
UNSECURED LOANS:
|
Particulars |
|
31.03.2000 Rs. In Million |
|
Loan from Shareholders and Directors |
|
6.043 |
|
Total |
|
6.043 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10098204 |
28/03/2008 |
8,400,000.00 |
State Bank Of India |
Industrial Finance Branch, Lekhraj Bhavan, Saki Vihar Road, Saki Naka, Mumbai, Maharashtra - 400072, India |
A36563096 |
|
2 |
80008965 |
20/03/2009 * |
195,000,000.00 |
State Bank Of India |
Mid Corporate Loan Administration Unit, R.T.O Lane, Andheri West, Mumbai, Maharashtra - 400053, India |
A60891314 |
*Date of modification Charges
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Electrical
Installment
- Furniture
- Air
Conditioner
- Motor Car
- Fax Machine
- Cycle
- Office
Equipment
- Computers and
Printer
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.62.57 |
|
UK Pound |
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.65.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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.