MIRA INFORM REPORT
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Report Date : |
23rd May, 2006. |
IDENTIFICATION DETAILS
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Name : |
HASSIA REDATRON PACKAGING
MACHINERY PRIVATE LIMITED |
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Registered Office : |
Gat 768/3,
Sanaswadi, Taluka Shirur, Koregaon Bhima, Pune – 412 207, Maharashtra, India |
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Country: |
India |
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Financials (as on) |
31.03.2005 |
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Date of Incorporation : |
19th June, 1997 |
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Com. Reg. No.: |
11-108901 |
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CIN NO.: |
U29195MH1997PTC108901 |
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TAN No.: [Tax Deduction & Collection Account No.] |
PNEH00824F |
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PAN No.: [Permanent Account No.] |
AAACH4374D |
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Legal Form : |
A Private Limited Liability Company. |
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Line of Business : |
The company is engaged in manufacturing, importing, exporting
and dealing in all types of packaging machinery, all allied systems and
accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a Subsidiary of IWTA PACUNION GMBH Germany. It’s trade relations are fair.
Financial Positions is gradually improving. Payments are usually correct and
as per commitments. The
company can be considered for normal business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office/
Factory : |
Gat No. 768/3,
Sanaswadi, Taluka Shirur, Koregaon Bhima, Pune – 412 207, Maharashtra, India |
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Tel. No.: |
91-2137-253210 |
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Fax No.: |
91-2137-253206 |
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E-Mail : |
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Website: |
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Administrative
office: |
15/A, Kondhwa Budruk, Pune – 411 04, Maharashtra |
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Tel. No.: |
91-2137-253210 |
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Fax No.: |
91-2137-253206 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Merk Gorge Roland |
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Designation : |
Chairman |
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Address : |
Edith,
Stein-Weg-3a, D-76327, Pfinztal Germany - 0049-744-968560 |
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Date of Birth/Age : |
10-05-1938 |
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Date of Appointment : |
19-6-1997 |
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Name : |
Mr. Bippus Golthilf Walter |
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Designation : |
Director |
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Address : |
Erlerstrasse
2, 76275 Ettlingen, Germany – 0049-7243-15097 |
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Date of Birth/Age : |
23-12-1931 |
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Date of Appointment : |
19-6-1997 |
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Name : |
Mr. Krishnamachari Ravi |
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Designation : |
Managing
Director |
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Address : |
10/10
Kumar city, Kalyani Nagar, Pune-411014, Maharashtra. |
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Date of Birth/Age : |
11-16-1959 |
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Date of Appointment : |
19-6-1997 |
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Name : |
Mr.
Baumann Wolf-Dieter |
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Designation : |
Director |
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Address : |
Isestrasse
121, 20249 Hamburg, Germany |
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Date of Birth/Age : |
17.09.1957 |
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Date of Appointment : |
01.04.2005 |
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Name : |
Mr.
Geurts Paul Heini Andreas |
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Designation : |
Director |
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Address : |
Bilker
Allee 22, 40219 Dusseldorf |
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Date of Birth/Age : |
31.01.1963 |
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Date of Appointment : |
01.04.2005 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
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IWK Pacunion
GmbH |
419999 |
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Mr. Merk George
Roland |
1 |
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BUSINESS DETAILS
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Line of Business : |
The company is engaged in manufacturing, importing, exporting
and dealing in all types of packaging machinery, all allied systems and
accessories. |
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Products : |
Packing Machinery |
PRODUCTION STATUS
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Particulars |
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Licensed Capacity |
Actual Production |
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Packaging
Machinery |
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45 |
9 |
GENERAL INFORMATION
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No. of Employees : |
150 |
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Bankers : |
Canara Bank |
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Facilities: |
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Banking Relations : |
Satisfactory |
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Auditors : |
B. K. Khare
& Company |
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Qualification: |
Chartered
Accountants |
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Address: |
11, Venu
Madhav, 104/7, Off Lane No. 14, Prabhat Road, Erandwana, Pune – 411 004,
Maharashtra |
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Tel. No.: |
91-20-25433704/ 22000607/ 6360/ |
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Fax No.: |
91-20-5430212 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,20,000 |
Equity Shares |
Rs.100/- each |
Rs. 42.000 millions |
Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,20,000 |
Equity Shares |
Rs.100/- each |
Rs. 42.000 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
42.000 |
42.000 |
42.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(6.905) |
(13.808) |
(9.296) |
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NETWORTH
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35.095 |
28.192 |
32.704 |
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LOAN FUNDS |
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1] Secured Loan |
1.626 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
6.561 |
3.400 |
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TOTAL
BORROWING
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1.626 |
6.561 |
3.400 |
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DEFERRED TAX LIABILITIES |
1.187 |
2.379 |
1.903 |
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TOTAL
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37.908 |
36.222 |
38.007 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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23.546 |
21.452 |
21.872 |
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Capital work-in-progress
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0.005 |
0.050 |
0.050 |
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INVESTMENT
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0.000 |
0.000 |
0.075 |
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DEFERREX TAX ASSETS
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0.911 |
0.330 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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13.475
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9.411 |
8.714
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Sundry Debtors
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9.258
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12.514 |
7.553
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Cash & Bank Balances
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3.430
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1.335 |
0.752
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Interest accrued on Investment
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0.000
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0.103 |
0.000
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Loans & Advances
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2.372
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1.846 |
2.558
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Total Current Assets
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28.535
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25.209 |
19.577
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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13.024
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9.600
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3.580
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Provisions
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2.070
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1.225
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1.067
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Total Current Liabilities
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15.094
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10.825 |
4.647
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Net Current
Assets
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13.441
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14.384 |
14.930
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MISCELLANEOUS EXPENSES
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0.003 |
0.006 |
1.080 |
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TOTAL
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37.908 |
36.222 |
38.007 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
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71.056 |
30.847 |
31.626 |
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Profit/(Loss) Before Tax
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6.182 |
(4.477) |
0.240 |
Provision for Taxation
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0.146 |
Profit/(Loss) After Tax
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6.903 |
(4.512) |
0.094 |
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Export Value
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36.471 |
7.211 |
12.055 |
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Import Value
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N.A |
N.A |
25.099 |
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Total Expenditure
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64.973 |
35.325 |
2.103 |
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
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(%)
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9.71
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(14.63) |
0.29
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Net Profit Margin
(PBT/Sales) |
(%) |
8.70
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(14.51) |
0.75
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Return on Total Assets
(PBT/Total Assets} |
(%) |
11.66
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(9.52) |
0.57
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Return on Investment (ROI)
(PBT/Networth) |
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0.18
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(0.16) |
0.01
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Debt Equity Ratio
(Total Liability/Networth) |
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0.48
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0.62 |
0.25
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Current Ratio
(Current Asset/Current
Liability) |
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1.89
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2.33 |
4.21
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LOCAL AGENCY FURTHER INFORMATION
Subject is a Registered Small Scale Industry
It manufactures
packaging machinery in technical and financial collaboration with IWK
Verpackungstechnik.
FIXED ASSETS:
Land, Factory
Building, Plant & Machinery, Office Equipment, Computers, Furniture,
Vehicles, Technical Knowhow etc.
It Trade Terms
With:
v
Harihar
Enterprises
v
J. B.
Industries
v
Trimurty
Engineering & Welding Works
v
Gurudatta
Engineering Works.
|
Name of the company |
HASSIA REDATRON PACKAGING MACHINERY PRIVATE LIMITED |
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Presented By |
Canara Bank,IFB Branch,
Pune |
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1) Date and description of
instrument creating the change |
Hypothecation Agreement of
Goods and Book Debts. Hypothecation Agreement for
Packing Credit Advances Both the agreement are
dated 06.12.2004 and executed for the creation of single charge. |
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2) Amount secured by the
charge/amount owing on the securities of charge |
Foreign Letter of Credit
Limit – Rs. 10.000 Millions Packing Credit – Rs. 3.000
Millions TOTAL:- Rs. 13.000 Millions |
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3) Short particular of the
property charged. If the property acquired is subject to charge, date of the
acquired of the property should be given |
Ishida and multihead
weigher, Cross Feeder, and spare parts for MHW and other raw materials, work
in progress and finished goods stored/being at Gat No. 768/3, Sanaswadi,
Taluka Shirur, District – Pune Book Debts and Receivable. |
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4) Gist of the terms and
conditions and extent and operation of the charge. |
Rate of Interest 15.60% |
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5) Name and Address and
description of the person entitled to the charge. |
Canara Bank, IFB Branch,
M.G. Road,Pune. |
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6) Date and brief
description of instrument modifying the charge |
Not Applicable |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
AS PER WEBSITE:
Deals In Export Of :
Flexibag series VFFS machines to pack powders, granules, candies and snacks in
three side seal pouches
Deals In Services :
Packaging
Email: Send Mail
Gat No 768/3, Taluka Shirur
Sanaswadi
Pune 412207
Maharashtra India
Contact Person: M.Mukundan
REVOLUTIONIZING
THE WAY YOU PACK
v
Incorporated in 1997, Hassia Redatron
Packaging Machinery Pvt. Ltd., India (HRI) is at the forefront of providing
Innovative and Complete packaging solutions.
v
HRI is a 100 % fully owned subsidiary of IWKA Germany
(HQ: Karlsruhe).
v
Involved in the manufacture of the
FlexiBag Series Vertical Form Fill Seal machine /Pouch Packaging Machine at our
world class manufacturing facility located at Pune, India.
v
HRI is involved in providing specialized
Flexible Pouch Packaging Solutions for a wide variety of different products and
applications (Any Solid.) from 50 g to 2 kgs. In special case offer 5 kgs.
Company Profile:
v Hassia Redatron Packaging Machinery
Private Limited., India” (HRI) is a 100%
Subsidiary of “IWKA Pacunion, Germany”. HRI was
incorporated in the year 1997 and became operational in the year 2000.
v HRI is a manufacturer of High Speed, High Quality “VFFS ( Vertical Form Fill & Seal Machines)
“ (Pouch Packaging Machines) and is located at a Modern Facility in “Pune, India”.
v With a Highly Innovative Approach, Comprehensive Technical
Expertise and Local Market Knowledge, We are a complete packaging solutions
provider and offer solutions for difficult and complex packaging problems (Only
for Solids at present) for the benefit of our customers. Please read “Our Capabilities” section to know more.
v As part of the Pacunion family, HRI is aggressively
leveraging the Superior Technological competence and ready access to the latest
innovations from its group companies to provide complete packaging solutions at
competitive prices. HRI like other IWKA companies worldwide is consistently
oriented to IWKA’s competitive edge in the market. Our products and services
are tailored to the demands of the market.
IWKA GROUP
HASSIA REDATRON PACKAGING
MACHINERY Pvt. Ltd. - (An IWKA GROUP COMPANY)
IWKA PACUNION GMBH, has set
up Hassia Redatron Packaging machinery Pvt. Ltd, (HRI) as a project in India as
it attached considerable importance to the Asian and African markets. In order
to provide the latest cutting-edge packaging technology by producing it at a
competitive cost for these markets, HRI therefore believes its key role as an
agent of bringing the latest expertise, know-how and technology from Europe and
America to the Asian & African Markets at a competitive price.
HRI therefore focuses on its markets in Asia, Africa, Middle
East, Australia/New Zealand & adapts the Innovative technology to better
suit local market conditions thereby achieving a better fit between customer
expectations and product attributes. HRI by its presence in India also lowers
the cost of after sales service thereby reducing the customer’s total cost of
ownership.
HRI has already successfully penetrated a number of new markets including the Middle East, New Zealand/Australia, and Bangladesh for a wide variety of different products and applications.
How to Select the Right Packaging Machine
:
Hassia Redatron Packaging
Machinery Pvt. Ltd. Prides itself as a superior technology packaging solutions
partner for your packaging needs. To help you select the right packaging
machine, we need to understand holistically your “Packaging Need”. For this,
you will need to provide us some basic information by filling up the fields in
the "Request for Quote". Based on
this information we can then propose the “RIGHT SOLUTION FOR YOU”.
We can send a Detailed Offer
/ Quote to you, If the following information is made available to us:
A)
Product Details:
Product & Product
Details:
- Please
specify clearly the product category (Dairy, Agrochemical, Food - Snack or
Food - Non Snack).(mandatory).
- Please
specify clearly the product name.(mandatory).
- Please
specify the product characteristics (Granular, Non Granular, Powdery (Free
flowing or non-free flowing powder, pasty).(mandatory
B)
Production Details for the Product to be Packed
Production Volumes:
- Please
state your total production volume per day to be packed (in
tonnes).(optional)
For Example :
Total Production Volume: 80 tonnes /Day
Bulk
Density Variation:
- Please
state the bulk density variation within batch of product packed &
between batch to batch of the product packed (This is optional).
C)
Product Pack Weights & Pack Size information:
- Please specify the number of pack weights
you envisage packing on the same machine? Between 1 - 10) (Mandatory)
- Please do not specify Ranges, State each
individual PackWeight (50 g, 100g, 150 g, 250g, 500 g, 1 Kg, 2 KG, 5 Kg)
separately along with information like Bag width , Bag length in order for
us to understand your exact packaging needs & propose solutions.
(Mandatory)
- Please also provide a breakup of your total
production volume amongst the individual pack weights to be packed. (In
tonnes or as an approximate percentage of total production volume)
- In case you have any special information
you would like to state vis-a-vis any particular pack weight, please enter
it in Extra information text box provided. - (Regarding special needs for
speed, accuracy or any other pack weight specific detail.)
- Please note that we can pack all solids
upto 5 Kg (max) on our VFFS machines in 3 - side seal Pouches subject to
the amenability of Bulk density and Product characteristics of the product
to be packed.
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Continuing with above
example, the entries can be |
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S. No |
Pack weights |
Bag Width ( in mm) |
Bag Length (in mm) |
Production Volume |
Extra |
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1 |
*200 gms |
184 mm |
217 mm |
45 tonnes or 56 % |
Need min speed |
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2 |
*500 gms |
220 mm |
234 mm |
20 tonnes or |
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3 |
*1000 gms |
240 mm |
250 mm |
15 tonnes or 19% |
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- If no value is entered against Bag width,
Bag Length, Extra Information- The default value is Null (Which Means To
be Specified Later).
- Please specify the exact pack weight(s)
for which you have maximum market demand (Maximum Production volumes to be
packed). In the above example it will be 200 gms.(Mandatory)
D) Your Specific Requirement
- Desired Speeds (In Bags/Minute) - at
least specify a range (Minimum speed to Maximum Speed)
- Desired Accuracy (In sigma value) - Please enter
the accuracy expected.
- In order for us to identify the right
packaging solution for your packaging needs, Please rank the following
parameters in the order of importance (Descending):
1) Speed or Accuracy or Price (Most Important)
2 Speed or Accuracy or Price (Second most Important)
3 Speed or Accuracy or Price (Least Important)
in the context of your current purchase of VFFS
machine
E)
Other Information
- Packaging Film used: (LDPE, LLDPE, HDPE,
LAMINATE, PP etc).Please choose other in case your film is different from
the ones mentioned.
- Pouch Styles: (Gussetted, Stand up,
Pillow pouch, Stabil Pouch, Block Bottom) - The normal Pouch style assumed
is Pillow Pouch. In case you have some other need please specify here.
- Any other special packaging need.
- In case you have multiple products to pack, then
it is advisable that you fill up the form separately for each product
category.
- Please note that being part of the IWKA
Pacunion, We can source solutions for your packaging needs from any of our
21 world-class group companies around the world. In case you are looking
for other solutions like Sachet packing machines, cartoning machines, Tube
filling machines or any other packaging solution- Do write to us. We will
be more than happy to source the right solution for you from our group
companies.
F) Your Contact Details
Your Complete contact details and address
Services :
Hassia Redatron Packaging
Machinery Pvt. Ltd. takes great pride in the level of service it offers to its
customers.
Packaging Partners of Choice
Hassia Redatron India is
striving hard to match its customer expectations & in this endeavor HRI
tries to provide complete packaging solutions- right from packaging project
feasibility studies to complete turnkey solutions & consultancy to its
customers.
Today’s market requires innovative packaging machines and systems of the highest
performance and flexibility. Saving time and money are vital to our customers,
who are more and more deciding on turnkey packaging lines from a single
supplier. Being part of the technologically advanced IWKA pacunion helps HRI
achieve this.
For complex packaging lines, we co-operate closely with our customers in the
development of partnership systems. Combining the expertise of our staff with
that of our customer has proven to be the way forward to optimize processes and
increase efficiency. Thanks to our innovative products designed with a close
focus on the cost factors and our expertise in the field of simultaneous
engineering, we are the partners of choice for providing the ideal packaging
solution for our customers.
After Sales Service
Every new machine sold by
Hassia Redatron, India comes with complete support for Aftersales, installation
and user training. When you have your machine on site and you know the date you
would like to begin your installation, please call as far in advance as you can.
Service Calls
If a problem develops with your equipment, first check the troubleshooting
section in your user operation manual. If you don't find the answer to your
problem there, please call the HRI Service Department at (+91) 2137-253207, In
case you are unable to get through, please leave your message on our answering
machine at (+91) 2137-253208 or write to redatron_india@vsnl.com.
Products :
Advanced Packaging Technology
The Core Products of HRI are Customized &
Technically Advanced Machines for Pouch Form Fill & Sealing Machines Also
Known as Vertical Form Fill Seal machines (VFFS).
HRI is Also Involved in Providing a Variety of Filling / Dosing Solutions for
Your Packaging Needs.
To go to a Page of Your Interest, Please Click on the Appropriate Product Links
Provided :
We work 7:30 AM - 5:20 PM (IST) from Monday -
Wednesday, Friday & Saturday.
We are closed on Thursdays & Sundays. In case you are unable to contact us,
you can leave your message on our answering machine at (+91) 2137-253208 or
write to redatron_india@vsnl.com.
We will get back to you on the next working day.
HASSIA REDATRON PACKAGING MACHINERY PVT. LTD.
Gat. No. 768/3, Sanaswadi,
Taluka Shirur Dist. Pune,
Pin. 412 207, INDIA.
Tel : +91 - 2137 - 253210,
Fax : +91 - 02137 - 253206.
Email : redatron_india@vsnl.com
v 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 records 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. 45.85 |
|
UK
Pound |
1 |
Rs. 85.82 |
|
Euro |
1 |
Rs. 58.62 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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
|
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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |