MIRA
INFORM REPORT
|
Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ALLIANCZ POLYCHEM OVERSEAS LIMITED |
|
|
|
|
Formerly Known As : |
ALLIANCE OVERSEAS |
|
|
|
|
Registered Office : |
23-B, 2ND Floor, Pusa Road, New Delhi – 110005 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
30.01.2003 |
|
|
|
|
Com. Reg. No.: |
118725 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL2003PTC118725 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELR06475A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECA1772C |
|
|
|
|
Legal Form : |
Private limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing of Pet Bottles and trading of chemicals |
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 43524 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Payments are reported as usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
23-B 2nd Floor, Pusa Road, Delhi-110 005 |
|
Tel. No.: |
91-11-25719622 / 25719623 / 25719624 |
|
Fax No.: |
91-11-25711004 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
180gaz |
|
Location : |
Owned |
|
|
|
|
Work : |
F-24 C, RIICO Industrial Aea, Neemrana – 301705, Alwar, Rajasthan |
|
Tel. No.: |
91-1494- 246504 / 05 / 06 |
|
Fax No.: |
91-1494-246507 |
|
Area : |
4000gaz |
|
Location : |
Owned |
|
|
|
|
Marketing Office : |
#235, Budh Pur, GT.K. Road, Delhi – 110036 |
|
Tel. No.: |
91-11-27207791 / 27207792 / 27207793 |
|
Fax No.: |
91-11-27207794 |
|
Area : |
1000gaz |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Raajhivv Gulaati |
|
Designation : |
Director |
|
Date of Birth/Age : |
15.09.1964 |
|
Date of Appointment : |
30.01.2003 |
|
|
|
|
Name : |
Mr. Sudershan Gulaati |
|
Designation : |
Director |
|
Date of Birth/Age : |
15.06.1933 |
|
Date of Appointment : |
30.01.2003 |
|
|
|
|
Name : |
Mr. Vipin Gulaati |
|
Designation : |
Director |
|
Date of Birth/Age : |
3.04.1968 |
|
Date of Appointment : |
30.01.2003 |
|
|
|
|
Name : |
Mr. Sanjay Gulaati |
|
Designation : |
Director |
|
Date of Birth/Age : |
13.04.1960 |
|
Date of Appointment : |
30.01.2003 |
KEY EXECUTIVES
|
Name : |
M/S A Upadhyaya and Associates |
|
Designation : |
Secretary |
|
Address : |
F-143, Karampura, New Delhi-110 015 |
|
Mobile No.: |
91-9312271115 |
|
E-Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Sanjay Gulaati |
|
6300 |
|
Mr. Vipin Gulaati |
|
22100 |
|
Mr. Sudershan Gulaati |
|
6300 |
|
Mr. Raajhivv Gulaati |
|
61200 |
|
|
|
|
|
Category |
|
Percentage of
Holding |
|
Directors or relatives or directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pet Bottles and trading of chemicals |
|
|
|
|
Products : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Depends Customers |
|
|
|
|
Purchasing : |
Advances Payments |
GENERAL
INFORMATION
|
No. of Employees : |
70 |
|
|
|
|
Bankers : |
Vijaya Bank, Samaypur Branch, New Delhi |
|
|
|
|
Facilities : |
Packing Credit Rs.100.000 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Bhagwan Singh and Company Chartered Accountants |
|
Address : |
New Delhi |
|
|
|
|
Associates/Subsidiaries : |
Alliancz Polywonderds Private Limited, New Delhi Line of Business : Manufacturing of Pet Bottle |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
Not Available |
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
540000 |
Equity Shares |
Rs.10/-each |
Rs.5.400
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.400 |
5.400 |
1.500 |
|
|
2] Share Application Money |
1.873 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.608 |
1.745 |
0.738 |
|
|
4] (Accumulated Losses) |
(0.000) |
(0.000) |
(0.000) |
|
|
NETWORTH |
10.881 |
7.145 |
2.238 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
29.310 |
8.239 |
5.029 |
|
|
2] Unsecured Loans |
23.980 |
25.900 |
4.111 |
|
|
TOTAL BORROWING |
53.290 |
34.139 |
9.140 |
|
|
DEFERRED TAX LIABILITIES |
30.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
94.171 |
41.284 |
11.378 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.400 |
2.999 |
4.067 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.010 |
0.010 |
0.010 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
43.855
|
15.476 |
14.275 |
|
|
Sundry Debtors |
95.492
|
30.078 |
8.252 |
|
|
Cash & Bank Balances |
3.249
|
3.387 |
0.983 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
9.375
|
6.332 |
3.684 |
|
Total
Current Assets |
151.971
|
55.273 |
27.194 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
62.216
|
17.010 |
19.910 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
62.216
|
17.010 |
19.910 |
|
|
Net Current Assets |
89.756
|
38.264 |
7.284 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.005 |
0.011 |
0.017 |
|
|
|
|
|
|
|
|
TOTAL |
94.171 |
41.284 |
11.378 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover(Including other Income) |
500.347 |
NA |
NA |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
3.405 |
NA |
NA |
|
Provision for Taxation |
1.542 |
NA |
NA |
|
Profit/(Loss) After Tax |
1.863 |
NA |
NA |
|
|
|
|
|
|
Total Expenses |
496.942 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
9.32
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.03
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.17
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.71 |
2.38 |
8.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.44 |
3.24 |
1.36 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
|
Name of the company |
ALLIANCZ
POLYCHEM OVERSEAS LIMITED |
|
Presented
By |
Mr. Raajhivv Gulaati, Director |
|
1) Date and description of instrument creating the change |
Cash credit (Misc.) Agreement and Agreement of collateral security dt. 05.11.2003 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.4.300 millions |
|
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 |
Hypothecation of stocks in trade, book debts and fixed assets in the name of the company |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest 13.50% p a above Vijaya Bank PLR Rate of 11.00% p a + 2.50% Extent of operation 100% |
|
5) Name and Address and description of the person entitled to the charge. |
Vijaya Bank, Sameypur Branch, Delhi |
|
6) Date and brief description of instrument modifying the charge |
Cash Credit (Misc.) Agreement vide supplementary agreement dt. 24.03.2005 |
|
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. |
Enhancement of limit by Rs.0.700 million as per supplementary agreement dt. 24.03.2005 over the existing limit of Rs.4.300 millions dt. 05.11.2003. The other terms and conditions remains the same as per charge registered on 04.12.2003 |
|
Corporate identity number (CIN) Foreign company registration number |
U74899DL2003PTC118725 |
|
Name of the Company |
ALLIANCZ POLYCHEM OVERSEAS LIMITED |
|
Address |
23-B, 2ND Floor, Pusa Road, New Delhi – 110005 |
|
This form is for |
Modification of Charges |
|
Type of Charge |
Immovable Property, Book Debts and Others |
|
Particulars of the charge holder |
Vijaya Bank Main Road, Sameypur, Delhi – 110042 E-Mail : sancheti.associates@gmail.com |
|
Amount secured by the charge |
Rs.21.500 millions |
|
Brief of the principal terms and conditions |
Rate of Interest: 12.75% p a Terms of repayments: Facility for 12 months Margin: CCH Stocks: 25% Book Debts: 50% Extent and Operation of the charge First Charge: 100% Others: Additional penal interest @2% in case of default |
|
Brief description of the instrument modifying the charge under section |
i)Agreement for demand cash credit against hypothecation of stocks and book debts ii) Agreement for Bills |
|
Date of Latest modification prior to the present modification |
24.03.2005 |
|
Particular of the present modification |
By this modification the overall credit limit(s) enhanced from Rs.5.000 millions to Rs.21.500 millions. The borrower company has secured the entire enhanced credit limit(s) by continuing securities already provides to the Bank i.e. i) Hypothecation of the whole of the borrower’s present and future stocks of chemicals like liquid paraffin, white oil, sarbital, Glycerince etc. ii) Hypothecation of entire book debts receivable etc. Further borrower has provides the continuing additional securities of EMTD. |
As Per Web Details
Company Profiles:
Alliancz kalyani group with its flagship company Subject (formerly Alliance Overseas) was found in 1993. The entrepreneurship began with merchandising of chemicals such as Liquid Paraffin and Glycerine with its main operations in Delhi. Though it all started with a small trading but a huge amount of faith in the quality of their products and the customer's acceptance reassured the same.
Alliancz found the wide acceptability of a 'High quality' Liquid Paraffin in the
industries such as cosmetics (Hair Oils, Creams, Lotions, Moisturizers and
Petroleum Jelly etc.).
Manufacturing of Plastic Pet Bottles at Alliancz is the latest acquisition
where they are using the challenge series, single stage, 4 station blow moulding
technology from Nissei ASB Machine Company Limited, Japan. Their expertise in
the field of Pad-Printing of Pet bottles reaffirms their commitment to
excellence in the industry. This German technology of Pad-Printing is available
only at Alliancz in India.
Their progress is entirely accredited to the R and D people, the marketing
force and the overwhelming response of the customers. They unrelentingly strive
to achieve a synergy of technology, processes and human resources to provide
products and services that meet the quality, performance and price aspirations
of their customers. Through their ethical business principles, they have
established an amicable relationship with their vendors and clients who happen
to be their partners in progress.
With its wide range of chemicals Alliancz has its presence felt in the field of
Adhesives, Plastics, Masterbatches. Attars, Tobacco-Pan Masala industry also
have been a major consumer of Alliancz products since last 12 years. Today the
group can boast-off with its 15 warehouses spread across India and with a
turnover that is likely to cross Rs.l000.000 millions milestone in the current
financial year.
Products
Utilizing their technical expertise and sound infrastructure, they manufacture
and export premium quality chemicals and plastic products like Liquid Paraffin,
Glycerine, White Oil and Plastic PET Bottles.
They deal in:
PET - Odorless, Unbreakable and long lasting. Available in various sizes and shapes. These bottles are made using PET (Polyethylene terephthalate) which is recyclable. They offer superior quality PET bottles that are strong and impact resistant and are hence ideal for packing and storing liquids, beverages, etc
PET containers are a growing part of the packaging market globally and display
a number of desirable consumer characteristics including:
- Light weight
- Shatter resistance
- Economic cost
- High clarity
- Resealability
High Performance PET is the result of special processes developed to enhance the material characteristics of PET material and is tailored to their customers' specific requirements. Product requirements are studied to determine the best packaging solution.
PET Applications
PET is a strong, clear material especially suited for numerous packaging applications, such as:
· Carbonated Soft Drinks
· Edible Oil
· Mineral Water
· Liquor Bottles
· Wine Bottles
· Pickles
· Condiments
· Spices/Salt
· Juices
· Sports Drink
· Honey Bottles
· Chocolates/Candies
· Hot and Cold Fill Bottles
· Pharmaceutical Bottles
Personal Hygiene/Health PET Products
- Shampoo Bottles
- Cosmetic Bottles
- Hair Oil Bottles
- Baby Feeding Bottles
- Liquid Soap Bottles
- Mouthwash Bottles
- Detergent Bottles
Liquid Paraffin is a mixture of liquid hydro carbons obtained from petroleum. A transparent colourless, oily liquid, free from fluorescence by daylight, almost odorless and tasteless when cold. Liquid paraffin is excellent for helping bowel movement in persons suffering chronic constipation. They supply light liquid paraffin and heavy liquid paraffin.
Applications
Liquid Paraffin is used in various applications including :-
- Candlemaking
- Coatings for waxed paper or cloth
- As anti-caking, moisture repellent, and dustbinding coatings for fertilizers
- Solid propellant for hybrid rocket motors
Glycerine is a trihydric alcohol derived from naturally occurring vegetable
oils (blends of palm kemel, palm oil, coconut and palm oil stearin). It is a
clear colorless liquid of syrup consistency, odorless taste sweet, followed by
a sensation of warmth.
Quality: Their products are made from the best quality raw material and
conform to international quality standards and pass through checks and
inspections to ensure their clients get the best
Infrastructure: They are backed by a state-of-the-art manufacturing unit
equipped with sophisticated machines that enable them to execute bulk orders
customized to cater client specifications.
Work Force: Their team comprises of qualified engineers, mechanics and
skilled labor with rich industrial experience.
R&D: Their well-established R&D department enables them to
better and more innovative products and services to their clients.
Customization: Their team works in close co-ordination with the clients
to clearly comprehend their needs and offer products and services that fulfill
them accurately.
Packaging: They provide special packaging for their products to ensure
their safe transit across the globe.
Timely Delivery Their efficient time-management and speedy production
operations ensure timely delivery.
Mission
They, intend to achieve outstanding services and supplying the highest quality
product, Their pledge is to satisfy their customer's needs through
uncompromising professionalism, attention to detail and unequaled performance.
Vision
Their pro-active vision and committed approach has enabled them to cater to
their esteemed clients and in future the intend to add more names to their
clientele.
Their Future Focus
Their organization prime focus is to achieve all corporate goals and to
maintain the highest standards in their industry today.
Clients
They have catered several clients across the globe. They have been able to
create a niche for ourselves in the global market because of their high quality
standards, robust infrastructure, innovation, talented work team and
competitive pricing.
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.39.57 |
|
UK Pound |
1 |
Rs.78.93 |
|
Euro |
1 |
Rs.56.85 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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 |
|