March
8, 2001
NAME
PUSHPA
POLYMERS PRIVATE LIMITED
REGISTERED OFFICE
Village Dahej, Taluka Vaghra ; District Bharuch,
Gujarat, INDIA
Tel. No. 91-2642-5652
FACTORY
Village Dahej, Taluka Vaghra; District Bharuch, Gujarat, India.
BRANCH
Glory House, Dalia Induries plot, off New Link Road, Andheri (West) Mumbai
Telephone No. : 91-22-6335705
Fax No. : 91-22-3392841
HISTORY
The company was originally incorporated on 18th July 1990 at Mumbai in Maharashtra having Co. Reg. No. 11-57314. Registered office was transferred from Maharashtra to Gujarat State on 18th November 1994 having new Company Registration No. 23527.
LEGAL FORM
It is Private Limited Liability Company.
DIRECTORS
|
Mr. Harish B. Doshi |
Chairman & Managing Directors |
|
Address |
28743, Doverrier Villa, Rancho Palol, California. |
|
|
|
|
Mr. K. R. V. Subramaniam |
Director |
|
Address |
8, Ruchila Cornier Road, Mumbai |
|
|
|
|
Mr. C. Parnivo Chattejee |
Director |
|
Address |
888, 7th Avenue, New York |
|
|
|
|
Mr. Harshad C. Valia |
Director |
|
Address |
13, V. N. Society, N. S. Road, JVPO Scheme, Vile Parle, Mumbai |
MAJOR SHAREHOLDERS
Ø Mrs. Pushpa Doshi – 100 shares
Ø Pushpa Holding Inc. – 413471shares
Ø Pankaj B. Doshi - 100 shares
BUSINESS
The company is engaged in manufacturing of Plastic Components, Polymers, Olefins, PVC Resins, etc.
It imports plastic raw materials from Korea, Germany and other Countries.
No detailed business details could be available from any sources.
Company has to start production of Polystyrene under Technical Collaboration with Toyo Engineering corporation, Japan (TEC) during June 1999. Presently no activity.
Subject operates from caption owned factory premises.
The company employs about 15 persons comprising of 5 in office and 60 persons in factory.
PARENT COMPANY
Pushpa Holding Inc.,
370-S, Creashaw,
SWO, Torento,
C.A.-90503
BANKERS
Ø Bank of Baroda,
Saki Naka, Andheri (East), Mumbai-400 053
[The company enjoys cash credit of Rs. 100 mil.]
Ø Central Bank of India,
Andheri (East), Mumbai-400 053
[The company enjoys cash credit of Rs. 100 millions from its bankers]
Ø United Bank of India,
Andheri (East), Mumbai-400 053
[The company enjoys cash credit of Rs. 50 millions from its bankers]
Ø Union Bank of India,( Mumbai )
[The company enjoys Hypothecation Facility of Rs. 33.000 millions from its
Bankers, dated 22 / 2 / 2000]
Ø Central Bank of India,
Main Branch, Mumbai
[The company enjoys Hypothecation Facility of Rs. 105.00 millions from
its Bankers, dated 18 / 4 / 2000
AUDITORS
Arther Anderson & Associates, Mumbai.
FINANCIAL INFORMATION
No latest financials information of the company could be available.
Mr Harish Doshi, Director of the company declined business and financial details.
Perhaps, he is worried, if his company’s information would be out-one may not deal with them.
CAPITAL STRUCTURE
|
Authorised Capital : |
||
|
26000000 |
Equity Shares of Rs. 10/- each |
260.000 millions |
|
|
|
|
|
Paid-up Capital
: |
||
|
21300454 |
Equity Shares of Rs. 10/- each |
213.005 millions |
COMMENTS
Subject is a new project and was to commence manufacture of polystyrene in June, 1999. No subsequent details are available. The company has been successful in taking substantial financial assistance from Union Bank of India and Central Bank of India. Its payments are reported as regular.
The company can be considered normal for business dealing on merits at usual trade terms and condition on merits.
ABRIDGED BALANCE SHEET AS ON 31ST MARCH, 1999
[figures are in Rupees Millions]
|
SOURCES OF
FUNDS |
|
31.03.1999 |
31.03.1998 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
|
213.005 |
213.005 |
|
2] Reserves & Surplus |
|
212.182 |
0.038 |
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
|
727.477 |
348.714 |
|
2] Unsecured Loans |
|
-- |
-- |
|
|
|
|
|
GRAND TOTAL |
|
1152.664 |
213.043 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1109.134 |
381.433 |
|
Capital work-in-progress |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
|
0.121 |
-- |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
|
-- |
-- |
|
Sundry Debtors |
|
-- |
-- |
|
|
|
|
|
|
Other Current Assets |
|
81.299 |
208.090 |
|
Loans & Advances |
|
73.990 |
16.415 |
|
Total Current
Assets |
|
155.289 |
224.505 |
|
Less : |
|
|
|
|
Current Liabilities |
|
111.713 |
36.990 |
Provisions |
|
1.225 |
8.249 |
|
Net Current
Assets |
|
42.351 |
187.515 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
1.058 |
1.058 |
|
|
|
|
|
GRAND TOTAL |
|
1152.664 |
413.078 |
IMPORTANT FINANCIAL INFORMATION FOR LAST two PERIODS
[figures are in Rupees Millions]
|
PARTICULARS |
|
31.03.1999 |
31.03.1998 |
|
Sales Turnover |
|
-- |
-- |
|
[including other income] |
|
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
-- |
-- |
|
Provision for Taxation |
|
-- |
-- |
|
Profit/(Loss) After Tax |
|
-- |
-- |
|
|
|
|
|
|
Dividend |
|
-- |
-- |
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
Export Earnings |
|
7.987 |
-- |
|
Other Earnings |
|
-- |
-- |
|
Total Earnings |
|
7.987 |
-- |
|
|
|
|
|
|
Imports : |
|
|
|
|
Raw Materials |
|
|
|
|
Components & Spares |
|
|
|
|
Capital Goods |
|
240.725 |
-- |
Total Imports |
|
240.725 |
-- |