MIRA
INFORM REPORT
|
Report Date : |
22.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
METLON INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
B - 10, Nizamuddin (West), New Delhi –
110013 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2000 |
|
|
|
|
Date of Incorporation : |
09.07.1993 |
|
|
|
|
Com. Reg. No.: |
55 – 54401 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U26956DL1993PTC054401 |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers of Polyester Film and
Polyethylene Film. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow
but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is an established company having moderate track. The company has substantial accumulated losses. Payments are reported as slow but correct. The
company can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
B - 10, Nizamuddin (West), New Delhi - 110013, India |
|
Mobile No.: |
91-9810044786 / 9811734616 |
|
Website : |
http://www.metlonindia.com |
|
|
|
|
Corporate
Office : |
D - 27 Okhla Industrial Area, Phase – I, New Delhi - 110020, India Tel. No. : 91-11-26810784/ 26810785/ 26810786/ 26817575 Fax No. : 91-11-26810786/ 26810788 E-mail : metlondia@touchtelindia.net Location
: Industrial
B-31 to 44, Phase – II Extension, Noida, District Gautam Budh Nagar, Uttar Pradesh, India Tel. No. : 91-120-2567243/ 2567244/ 2567245 Fax No. : 91-120-2563862 E-mail : metlonindia@sify.com
/ metlondina@vsnl.net Website : http://www.metlonindia.com Location : Industrial |
|
|
|
DIRECTORS
|
Name : |
Mr. Mohd Rais |
|
Designation : |
Managing Director |
|
Address : |
934, Haveli Azam Khan, Chitli Qabar, Delhi, India |
|
Date of Appointment : |
07/07/1993 |
|
|
|
|
Name : |
Mr. Rajinder Kumar Dhawan |
|
Designation : |
Director |
|
Address : |
1 Panchkuian Road, New Delhi - 110055, India |
|
Date of Appointment : |
13/05/2001 |
|
|
|
|
Name : |
Mr. Ram Singh |
|
Designation : |
Director |
|
Address : |
U – 190A, Shakarpur, Delhi – 110092, India |
|
Date of Appointment : |
13/05/2001 |
KEY EXECUTIVES
|
Name
: |
Mr. Syed Alamgir Siraj |
|
Designation
: |
Export Manager |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
Percentage of Holding |
|
Directors / Relatives of Directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Polyester Film and Polyethylene Film. |
|
|
|
|
Products : |
Metalized Films Holographic Films Polyester Films PVC Films Sequins / Spangles Glitter |
PRODUCTION
STATUS
|
Particulars |
Unit |
Actual Production |
|
Polyester Film |
MT |
34.91 |
GENERAL
INFORMATION
|
Customers : |
Bells Insulation Private Limited Classic Trading Company Un-pack Marketing Metlon India Polytech Services National Industries Adee Packaging Private Limited Chawla Packaging Private Limited Kanodia Technolast Private Limited |
|
|
|
|
Bankers : |
Union Bank of India State Bank of India |
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
Sudhir Kumar Agarwal & Company Chartered Accountants, Contact Person : Mr. S. K. Agarwal, Partner |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity
Shares |
Rs. 10/- each |
Rs. 25.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2077211 |
Equity
Shares |
Rs. 10/- each |
Rs. 20.772 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2000 |
31.03.1999 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
20.772 |
20.772 |
|
|
2] Share Application Money |
|
31.667 |
26.267 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
[11.537] |
[6.908] |
|
|
NETWORTH |
|
40.902 |
40.131 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
48.722 |
52.987 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
48.722 |
52.987 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
89.624 |
93.118 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
89.531 |
87.898 |
|
|
Capital work-in-progress |
|
7.581 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
3.117 |
11.542 |
|
|
Sundry Debtors |
|
20.354 |
10.724 |
|
|
Cash & Bank Balances |
|
0.038 |
0.030 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.754 |
0.602 |
|
Total Current Assets |
|
24.263 |
22.898 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
31.561 |
17.511 |
|
|
Provisions |
|
0.197 |
0.175 |
|
Total Current Liabilities |
|
31.758 |
17.686 |
|
|
Net Current Assets |
|
[7.495] |
5.212 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.007 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
|
89.624 |
93.118 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2000 |
31.03.1999 |
|
Sales Turnover [including other income] |
|
31.886 |
37.135 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
[4.629] |
[4.162] |
|
Provision
for Taxation |
|
0.000 |
0.000 |
|
Profit/(Loss)
After Tax |
|
[4.629] |
[4.162] |
|
|
|
|
|
|
Total
Expenditure |
|
25.643 |
36.333 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2000 |
31.03.1999 |
|
PAT / Total Income |
(%) |
|
[14.52] |
[11.21] |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
[11.48] |
[12.97] |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
[3.48] |
[3.54] |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
[8.83] |
[8.85] |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
0.93 |
1.13 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
0.76 |
1.29 |
|
|
|
|
|
|
|
Quick
Ratio |
|
|
0.67 |
0.64 |
|
|
|
|
|
|
|
Current
Liabilities / Net worth |
|
|
0.61 |
0.38 |
|
|
|
|
|
|
|
Fixed
Asset / Net worth |
|
|
1.71 |
1.87 |
|
|
|
|
|
|
|
Average
Collection Days |
|
|
184.30 |
121.96 |
|
|
|
|
|
|
|
Account
Receivables Turnover |
|
|
1.98 |
2.99 |
|
|
|
|
|
|
|
Inventory
Turnover |
|
|
12.93 |
2.78 |
|
|
|
|
|
|
|
Asset
Turnover |
|
|
0.45 |
0.37 |
LOCAL AGENCY
FURTHER INFORMATION
The subject was originally incorporated on 9th July, 1993 in the name of “Metlon Metalizing India Private Limited” and subsequently changed the name as “Metlon India Private Limited” with effect from 19th May, 2004 vide ROC letter No. 21/55-54401/304 dated 12th May, 1994.
Trade
Reference :
Polyplex Corporation Limited
SRF Limited
Bhagwat Spherocast Limited
Indian Oil & Chemical
Drycool Equipments
HMG Industries Limited
Krimson Petrochem Private Limited
MS Chemicals
Selmex Industries
Tata Honeywel Limited
Rajdhani Engg Works
Avinash Enterprises
B V Polymers
Delhi Engg Corporation
G M Enterprises
Hindustan Steel Industries
International Steel Corp.
R L Kalathia Shio Breaking Private Limited
Flex Chemicals Limited
Interarch Building Products Limited
WEBSITE
DETAILS
Founded in the year 1960 by Mr. M Aziz, the company was originally
specialised as manufacturer of PVC films and PVC sheets as well as Metallising.
Over the last 40 years, the dedication and commitment of the partners and
worldforce enabled the organisation to extend its activities in other
Industrial sectors like Decorative Films Manufacturing, Polyester Film, Twist
Wrap PVC Film.
PROFILE
The company
founded in the year 1960, originally specialised in the manufacture of PVC
films and sheets as well as Metallising. Encouraged by the overwhelming success
and forecasting the industry demand, Metlon India extended its realm of
activities in other Industrial sectors like Specialised Decorative Films
/Specialised Coated Films/Stamping Foils/Wide Web Holographic Films/
Sequins/Glitters etc.
The company is committed to achieve total costumer satisfaction through its
quality products and prompt deliveries. Thanks to the extremely dynamic and
dedicated internal management team supported by highly flexible production
system, Metlon India has been able to meet all challenges of the industry.
Offering high quality standards, competitive prices and specialized service,
they have secured supply agreements with buyers around the world.
Quality
The Group's total emphasis is on Quality & commitments. Strictly
associating with top-grade production facilities, all of their series products
are in accordance with international clients' expectations. They are committed
to provide quality products to their niche clients who have honoured us by
their trust and loyal patronage. Their thrust on quality has eatned us a
favourable reputation in the market
Infrastructure
The Group's head-quarters and some manufacturing bases are situated in the
capital city of India, the most leading Industrial and Commercial Growth Area
of the country. Today the Metlon Group occupies 37,000 Sq. M. area, distributed
over:
Multiple
Manufacturing Units situated in Delhi & Noida
Four
Office Blocks.
Sixteen
Distribution Offices covering whole of India
Elaborate research goes into the products as well as the manufacture process
and this is what sets their product range distinct from others. Their R& D
Unit allows us to provide the highest quality films for the needs of today and
the demanding global market of tomorrow.
Their clientele
The
supreme quality flawless products offered by Metlon have earned their company a
good reputation and the opportunity to supply leading industries of India. They
are currently exporting to various countries and wish to expand their overseas
market.
METALLIZED FILMS
Product manufacturers can now leave behind the inconvenience, which the
packaging industry was facing in procurement of aluminum foil and can now look
forward to Metallized Films manufactured by us on ultra modern plant provide
excellent barriers to light, moisture, gases etc.
Their group possesses six numbers of very high-speed ultra modern metallizers
and has the capability to metallize Polyester, BOPP, PVC, OPP and LLDPE films.
They have the capability to handle thickness ranging from 10 microns to 200
microns.
Metallized Paper and Boards
Excellent replacement of Aluminum foil
Range from 40 GSM to 250 GSM
Multiple colors available
Used in cigarettes, lable stocks & decorative products
Hot Stamping Foils
Special high quality foils
Available in different colors & sizes
Resistant to extreme weather conditions
Environment friendly process
Cost effective
Used for decorative applications, product identification
Used in stamping on Plastics, Paper, Wood & Leather
Tamper Evident Film
Special tamper proof coated film
Used for HOLOGRAPHIC application
Tampering results in embossed image destruction
Thickness -12 microns to 50 microns
Any thickness can be coated as per customer requirement
Window/ Pattern Metallised Film
Special process
Provides transparent pattern in opaque Metallized film
Different designs possible
Enhances the shelf appeal of the package
Allows the product to be seen
Deterrent to the counterfeiters
HOLOGRAPHIC FILMS
Wide
Web Holographic Films
Metlon
Group has emerged as the leader and undisputed Best Quality producer of wide
web holographic films in the country. They specialize in producing different
kinds of holograms described as:
2D Holographic Films
Created
from an image, design with a flat continuous background.
High
brilliance effect without depth.
Available
in bright colors
2D & 3D Holographic Films
2/3 or
more images on different planes, overlapping each other
3-D
images with exceptionally high brightness and visibility
Ideal
for promotional brochures and labels
Used for
security stickers
Offer
aesthetic and pillerproof packaging.
Available
in bright colors
3D Holographic Films
Created
from the real objects/ scaled replicas
Best
view under specially directed light beams
Ideal
for promotional brochures.
Available
in different colors
Today their group has the largest number of generic designs in 2D holography and
is catering to varied applications like Gift Wrap, Overwrapping, Duplex Board
Lamination, Decorative Items, Plastic Film Lamination and Shopping Bags etc.
Specific Holographic Embossed Film are supplied to many manufacturers like Pan
Masala, Biscuits, Hybrid Seeds, Automotive Parts, Teas and Pharmaceuticals.
The spurious packing has been totally eliminated with the introduction of Wide
Web Holographic Film for Flexible Packaging Applications. All of their
customers are experiencing very high demand due to the elimination of spurious
packs from the market. This film has also enabled them to secure their
reputation.
Today, the group caters to the national and international customers with a very
high degree of satisfaction.
Window Graphic Film
Innovator
of Window Graphic Film
Pattern
window and holographic embossing on the same film
Recommended
for high security areas
Available
in various shades
Hot Stamping Holographic Film
First
indigenously manufactured Wide Web Holographic foil
Various
shades and colours
Generic
as well as specific
Used for
specific applications
Used in
paper, wood, plastic and leather stamping
Protection
against counterfeiting
Enhance
the physical appearance of the product
Holographic
Paper & Board
Latest
technology
Range
from 45 GSM to 250 GSM.
Used in
gift wraps, shopping bags, decorative items
Also
finds wide usage in exercise books, diaries, lables etc.
Available
in variety of colours and shades
POLYESTER
FILMS
They are
one of the reputed manufacturers and exporters of polyester films in India.
Metlon Group has very recently diversified into the manufacture of Polyester
Film. The state of the art plant & machinery has been imported from Europe
to ensure the best quality production of films.
Large
variety
Thickness
ranges from 18 microns to 50 microns
Used for
Packaging,
Metallizing, Decoration, Gift Wraps
Hot
Stamping, Electrical & Thermal Insulation
Zari
& Yarn, Pressure Sensitive Adhesive Tapes
Security
Release Films & Holographic Films
Also
produce Corona Treated & Specially Coated Films
Recent
addition-Extra Clear Polyster Film
Specially
created for Holographically Embossed Stickers industry
Thickness
range-18 microns to 50 microns
PVC FILMS
Rigid
PVC Films for Blister Packs
Their
most Ultra Modern Plant, consisting of very sophisticated technology and state
of the art machines from Italy, produces Rigid PVC films of three kinds:
General Purpose Film for packaging products such as Batteries, Shaving Razors,
Blades, Watches, Chocolate Trays, Decorative Ceiling Tiles etc.
Metallised
& Coloured PVC and Rainbow. Thermoformed and Punched PVC for sequences and
sparkles.
Non toxic PVC for pharmaceuticals and food packaging.
Consider the winning formula for Packaging:
Protection,
Safety of the product.
Enhances
esthetic value of product.
Increases
Shelf Life of the product.
Reduction
in cost.
Their Rigid PVC films confirm to the most demanding quality standards. Rightly
so, as it protects your pharmaceutical products for optimum effectiveness.
SEQUINS
/ SPANGLES
Metlon
produces all kinds of sequins and spangles with golden color, metallic color,
rainbow color, luminous color and pearlite color. All sizes are available at
competitive prices. They can fulfil customized requirements too.
Their R&D department regularly sources various materials, conducts market
research and gathers feedback on their products to both guarantee the high
quality of their products and to maintain the satisfaction of their customers.
Sequins Specification: 1.0 x
0.3mm
Composition: pvc, polyester
High quality
More colors and sizes available upon request
Used in bead chains, bead bags, bead curtains and light decorations Suitable
for various kinds of furniture decoration, apparel and other accessories
GLITTER
Their
sophisticated machinery and state-of-the-art infrastructure produces premium
quality glitters which have extra brilliance and shine. These are tamperproof
and have fast colors.
Manufacturing of hexa shaped
glitters for the first time in India.
Highly
luminescent colors
Transparent
and opaque colors
Opaque
hologram colors
Fine
tonal quality
Available
in different sizes
Ideal
for rubberstamp cards, glitter lace paper
Used in
art & crafts projects
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.44.75 |
|
UK
Pound |
1 |
Rs.85.14 |
|
Euro |
1 |
Rs.57.55 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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 |
|