MIRA
INFORM REPORT
|
Report Date : |
21.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
SAN PLASTIC |
|
|
|
|
Registered Office : |
100% EOU, D-67, Bansal Complex, Main Market, Gandhidham ( |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 (estimated) |
|
|
|
|
Date of Incorporation : |
1996 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
RKTS02281G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
ABMPB3037B |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Recycling of Plastic Scrap |
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 8000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established concern and a part of Bansal Group. Proprietor of the concern is reported as
experienced, respectable and having satisfactory means of his own. His trade relations are fair. Payments are usually correct and as per
commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office/Head Office : |
D-67, Bansal Complex, Main Market, Gandhidham ( |
|
Tel. No.: |
91-2836-224140 / 234729 / 222610 |
|
Fax No.: |
91-2836-239713 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory : |
Plot No. 5/6, Sector 10B, Gandhidham, |
|
Area : |
50000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branches 1 : |
201, Shival |
|
Tel. No.: |
91-22-28505116 |
|
Fax No.: |
91-22-28508502 |
|
|
|
|
Branches 2 : |
|
|
Tel. No.: |
91-261-2418300 / 91-261-2414291-96 |
|
Fax No.: |
91-261-2413921 |
|
|
|
|
Overseas Office : |
Business Universal Resources LLC, 660, Maple Crest Drive, Lawrence
Ville, Georgia 30044, United States of America |
|
Tel No.: |
91-678-3601254 |
|
Fax No. : |
91-7709-315458 |
SOLE PROPRIETOR
|
Name : |
Mr. Deven Bansal |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
32 Years |
|
Qualification : |
Graduate |
|
Experience : |
9 Years |
BUSINESS DETAILS
|
Line of Business : |
Recycling of Plastic Scrap |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Advance Payment |
|
|
|
|
Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
250 |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Construction
Custom House Agents
Warehousing
Restaurant,
Trading Concern
Bentonite Owner |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 2.000 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 2.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2007 |
|
Sales Turnover |
|
|
20.000
(estimated) |
LOCAL AGENCY FURTHER INFORMATION
As per Website
Details :
San Plastic - Making all efforts to clean ENVIRONMENT
Import of Plastic Scrap viz LDPE, LLDPE, HDPE, HM, PP is banned in INDIA
and only approx 20 licenses have been granted by Government of India to import
and recycle PLASTIC SCRAP.
Subject is a 100% Export Oriented Unit engaged in recycling of Plastic
Scrap in environment friendly manner. It is based in Gandhidham a port town
near
It employs 200 labours which manually sorts the Imported Plastic Waste
and cuts out Sticker & Labels and other impurities if any and segregate the
Plastic Waste according to Quality & Colour. Then the said SORTED PLASTIC
is densified in DENSIFIERs which is commonly known as AGGLOMERATES.
These agglomerates has got great demand as it serves as the primary RAW
MATERIAL for manufacturing of Recycled Plastic Granules which can be converted
into any Plastic Product
Products which are mainly manufactured from these Agglomerates are TARPAULIN,
Black Agriculture Pipes, All sort of Shopping & Hand Bags, Garbage Bags
& all other items of PLASTIC.
San Plastic recycles PLASTIC SCRAP in environment friendly manner for
which it has been granted licence by Development Commissioner, Kandla Special
Economic Zone. It has also been granted permission from the concerned
ENVIRONMENT AUTHORITIES to carry out recycling of PLASTIC SCRAP. To destroy the
PLASTIC WASTE which is not recyclable, it has put up STATE OF ART latest INCINERATOR
in its premises itself so that NO HAZARDOUS WASTE goes out of the premises of
the company thereby keeping proper care of its MOTTO to “CLEAN ENVIRONMENT”.
Main Advantages :-
Plastic is a material which cannot be destroyed completely, hence it is
very necessary to RECYCLE the same to clean our ENVIRONMENT. By recycling there
are two MAJOR advantages, first one being CLEANING OF ENVIRONMENT & second
one being RECYCLED GRANULES or Products manufactured from Recycled Granules are
quite cheap as compared to products manufactured from VIRGIN GRANULES. Thus in
this competitive ERA of HIKE of PETROLEUM PRICES every fortnightly, companies
using RECYCLED PLASTIC stands quite competitive in PRICES against their
competitors.
Main Items of Import :-
Plastic Scrap Films in baled form of LDPE, LLDPE, HDPE, PP & HM
& all types of POST INDUSTRIAL PLASTIC WASTE
Main Items of Export :-
Garbage Bags of all size, Recycled Plastic Granules, Recycled Plastic
Grindings & Agglomerates. They welcome all enquires for export of any
Plastic Product.
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 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. 41.01 |
|
|
1 |
Rs. 81.39 |
|
Euro |
1 |
Rs. 55.30 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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. |
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 |
|