MIRA
INFORM REPORT
|
Report Date : |
06.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
SRI VINAYAKA PAPER TECH |
|
|
|
|
Registered Office : |
5, 10th Main, Hongasandra,
Begur Road, Bommanahalli, Bangalore -
560068, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
2002 |
|
|
|
|
VAT No.: |
29390071917 |
|
|
|
|
Legal Form : |
Partnership
Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business : |
Manufacturers,
Exporters and Importers of Disposable Paper Cups. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
20000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually
correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established concern having satisfactory track. Payments are usually correct and as per
commitments. The concern is doing
steady business. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
5, 10th Main, Hongasandra, Begur Road, Bommanahalli, Bangalore - 560068, Karnataka, India |
|
Tel. No.: |
91-80-32964952 |
|
Mobile No.: |
91-9844133169
/ 9341242711 |
|
Fax No.: |
91-80-25730436 |
|
E-mail : |
|
|
Area : |
4500
sq. ft. |
|
Location : |
Rented
|
PARTNERS
|
Name : |
Mr. Srinivasa Reddy |
|
Designation : |
Managing
Partner |
|
Date of Birth/Age : |
45
years |
|
Experience : |
15
years |
|
|
|
|
Name : |
Mr. D. Bala Murali Krishna |
|
Designation : |
Managing
Partner / Chief Executive Officer |
|
Date of Birth/Age : |
28
years |
|
Qualification : |
MBA |
|
Experience : |
5
years |
|
Mobile No. : |
91-9844133169 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers,
Exporters and Importers of Disposable Paper Cups. |
|
|
|
|
Products : |
Drinking Cups for Hot and Cold Beverages Ice Cream Cups Paper Noodle Cups Cake Cups Tea Cups Coffee Cups Disposable Drinking Cups Cold Drink Cups |
|
|
|
|
Imports from : |
Korea
[Machinery] |
|
|
|
|
Terms : |
|
|
Selling : |
L/C,
Cash and Credit [60 days] |
|
|
|
|
Purchasing : |
L/C,
Cash and Credit [60 days] |
PRODUCTION
STATUS
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Disposable Paper Cups |
Millions per month |
10.000 |
7.000 |
GENERAL
INFORMATION
|
Suppliers : |
United
Precision Industries, Bangalore, Karnataka, India Line
of Business :Tool Room Sri
Vinayaka Poly Pack, Bangalore, Karnataka, India Line
of Business : Manufacturers of disposable plastic products ABR Poly Pack, Bangalore, Karnataka, India Line of Business : Manufacturers of
disposable vacuum formed products. |
|
|
|
|
Customers : |
Wholesalers,
End Users and OEM’s |
|
|
|
|
No. of Employees : |
25 |
|
|
|
|
Bankers : |
Andhra Bank Gandhinagar, Bangalore – 560009, Karnataka, India |
|
|
|
|
Facilities : |
Credit Limit : Rs.15.00 lacs |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
Shankar Reddy Chartered Accountant, Bangalore, Karnataka, India |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
6.000 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.
6.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
|
31.03.2006 |
|
Sales Turnover |
|
|
8.500 |
Group
Turnover is Rs. 40.000 millions
Projected
Turnover for March, 2007 is Rs. 10.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade
Reference:
>
Ekang Tech
>
Accenture, Bangalore, Karnataka, India
>
Microsoft, Bangalore, Karnataka, India
> SAP
Lab, Bangalore, Karnataka, India
>
Samsung, Bangalore, Karnataka, India
> GE
Capital, Bangalore, Karnataka, India
A professionally managed company, Sri Vinayaka Paper Tech is one of
India's reputed Manufacturers and Exporters of all kinds of Paper and
Disposable cups like: drinking cups, ice cream cups, paper noodle cups, cake
cups, etc.
Profile
Sri Vinayaka Paper Tech is the first generation Paper cup manufacturing
industry in Karnataka. Situated in the historic and Garden City of Bangalore,
one of the fastest growing IT city in the world, Sri Vinayaka Paper Tech is yet
another unique venture by its promoters, who have been in the forefront of
manufacturing industry for several decades.
Sri Vinayaka Paper Tech is established with the express desire to promote the
use of biodegradable products among the public in general and various related
industries in particular. Currently, Sri Vinayaka Paper Tech has the capacity
to manufacture 6 million cups per month and proposes to increase this manifold
in the near future.
Sri Vinayaka Paper Tech has a vision to become the leading supplier of Paper
Cups to Both Hot & Cold Food & beverage vendors and become Market
Leader in its segment by building a Brand of its own. They realize this can be
achieved only through Excellent Product Quality, Service and Timely supply to
the esteemed customers.
Products
Sri Vinayaka Paper Tech currently has a capacity to manufacture 6 million paper
cups a month. The entire production process is fully automated with very less
human intervention whatsoever in the process.
Technical specification:
Cup type : Single side coated
paper cup
Mould Change :
possible
Cup size :
110 ml,
150 ml, 200 ml, 210 ml, 250 ml, 300 ml, 350 ml
Product efficiency : 40-50 pieces/min
Applicable paper : 195 ~ 240 gsm single side PE coated paper
Sealing method : Electric heater
Sri Vinayaka Paper Tech (SVPT) enforces strict quality control norms to
satisfy the stringent requirements of the clients. The state-of -the-art
equipment imported by SVPT ensures that the entire manufacturing process is
automated with little or no human intervention. The scope for error in such a
scenario is practically zero. However, to redouble the faith of their customers
in them, the management of SVPT has initiated a quality control protocol to
ensure the complete satisfaction of their esteemed customers.
The raw-material is checked to ensure that the sheet thickness meets the
specifications.
The cups are randomly and regularly checked manually for various
parameters such as weight, volume, thickness, shape etc.
The print on the body of the cup is checked for visual and grammatical
defects.
The cups are subject to leak tests using both hot and cold beverages to
ensure leak-proof cups.
Great care is taken while stacking the cups to ensure correct numbers
per pack.
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 records 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.44.68 |
|
UK
Pound |
1 |
Rs.85.17 |
|
Euro |
1 |
Rs.57.07 |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|