MIRA
INFORM REPORT
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Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
LABH PACKAGING PRIVATE LIMITED |
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Registered Office : |
309,
Third Floor, Chitrarath Complex, Near Hotel President, C. G. Road, Ahmedabad -
380009, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.10.1999 |
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Com. Reg. No.: |
04-36699 |
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CIN No.: [Company
Identification No.] |
U72200GJ1999PTC036699 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHML00880F |
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PAN No.: [Permanent
Account No.] |
AAACL6234G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and exporting of packaging, pharmaceutical and other machines. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 1000 |
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Status : |
Small company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject appears to be a small and unknown company. It has moderate
track. No payment records are known. The company can be considered for any business dealings at usual trade
terms and conditions with some caution. |
LOCATIONS
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Registered Office / Factory : |
309,
Third Floor, Chitrarath Complex, Near Hotel President, C. G. Road, Ahmedabad
- 380009, Gujarat, India |
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E-Mail : |
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Website : |
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Corporate Office : |
403 - 405, Time Square, Near Pariseema Complex, C. G.
Road, Ahmedabad- 380 009- Gujarat [INDIA] |
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Tel. No.: |
91-79-2656 9261, 26442897, 30070400, 30070500 |
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Fax No.: |
91 - 79 – 26467821 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Sunit Jitendra Hapani |
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Designation : |
Director |
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Address : |
C – 73, Sachin Tower, Near Shyamal Row House, Near Satellite, Ahmedabad
– 380015, Gujarat, India |
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Date of Birth/Age : |
03.10.1968 |
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Date of Appointment : |
11.10.1999 |
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Name : |
Mrs. Amiben Sunit Hapani |
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Designation : |
Director |
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Address : |
C – 73, Sachin Tower, Near Shyamal Row House, Near Satellite,
Ahmedabad – 380015, Gujarat, India |
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Date of Birth/Age : |
24.01.1972 |
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Date of Appointment : |
11.10.1999 |
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Name : |
Mr. Piyush Jaysukhlal Padia |
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Designation : |
Director |
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Address : |
7/B, Sita Baug Society, Near Jaihind School, Maninagar, Ahmedabad,
Gujarat, India |
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Date of Appointment : |
11.10.1999 |
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Name : |
Mrs. Jyuthika Piyush Padia |
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Designation : |
Director |
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Address : |
7/B, Sita Baug Society, Near Jaihind School, Maninagar, Ahmedabad,
Gujarat, India |
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Date of Appointment : |
11.10.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Sunit Jitendra Hapani |
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15400 |
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Amiben Sunit Hapani |
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5000 |
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Total |
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20400 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and exporting of packaging, pharmaceutical and other machines. |
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Products : |
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Exports : |
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Countries : |
North
America, South America, Eastern Europe, Africa, Mid East, Eastern Asia,
Western Europe |
GENERAL
INFORMATION
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No. of Employees : |
4 |
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Bankers : |
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Facilities : |
--- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
C. B. Shah and Company Chartered Accountants |
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Address : |
10, Jagat Janani Society, Near Polytecnic, Ambawadi, Ahmedabad –
380015, Gujarat, India |
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Group Company : |
Labh Machines Private Limited Labh Infocom Private Limited Labh Technologies Labh Securities
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20400 |
Equity Shares |
Rs. 10/- each |
Rs. 0.204
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.204 |
0.204 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.148 |
0.057 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.352 |
0.261 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.008 |
0.008 |
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TOTAL |
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0.360 |
0.269 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.028 |
0.030 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.188 |
0.020 |
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Sundry Debtors |
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1.438 |
1.965 |
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Cash & Bank Balances |
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1.077 |
0.086 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.053 |
0.164 |
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Total
Current Assets |
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2.756 |
2.235 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.427 |
2.000 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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2.427 |
2.000 |
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Net Current Assets |
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0.329 |
0.235 |
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MISCELLANEOUS EXPENSES |
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0.003 |
0.004 |
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TOTAL |
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0.360 |
0.269 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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6.595 |
7.286 |
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Other Income |
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0.040 |
0.011 |
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Total Income |
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6.635 |
7.297 |
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Profit/(Loss) Before Tax |
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0.117 |
0.149 |
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Provision for Taxation |
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0.025 |
0.051 |
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Profit/(Loss) After Tax |
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0.092 |
0.098 |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
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[0.168] |
0.039 |
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Depreciation & Amortization |
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6.684 |
7.107 |
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Other Expenditure |
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0.002 |
0.002 |
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Total Expenditure |
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6.518 |
7.148 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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1.39 |
1.34 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.77 |
2.05 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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4.20 |
6.58 |
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Return on Investment (ROI) (PBT/Networth) |
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0.33 |
0.57 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.89 |
7.66 |
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Current Ratio (Current Asset/Current Liability) |
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1.14 |
1.12 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile
Subject is a part of 'LABH
GROUP' which is a leading group of India having the head office at
Ahmedabad, Gujarat. It's a reputed group having diversified interest in
different fields like Engineering, Packaging, Import - Export, Finance and
Information Technology.
Subject is providing the best quality packaging material to local as well as
international customers. They are specialised in packaging of food, Pharma and
other consumer products. They also provide practical solutions related to the
right packaging material selection, size, specification etc.
Mr.
Sunit Hapani, Managing Director of the company - a first generation
entrepreneur having bachelor degree in Engineering and post graduation in
Business Management has started the business of packaging materials for various
commodities in 1991 and today the company is handling packaging jobs for many
reputed companies all over the India and abroad.
Looking to the future of packaging industry he has planned to cater various
sectors with variety of packaging materials like flexible packaging, rigid
packaging etc.
They
can provide a made to order service for the own particular products. They can
provide full in-house package design service from concept to prototype to
production. Come to the experts - they have lots of ideas to give the product
impact in the market place.
They are the perfect partner for customers who need custom-made products to
fulfill a specific need. They can design and deliver well-engineered packaging
even for smaller quantity with reasonable price to start with.
Their head office
located in the heart city of Ahmedabad, India which is the centre of industrial
revolution in State of Gujarat. They are having their office and infrastructure
located at the prime locations of the city from where all other facilities like
Transportation, Hotels, Airport, Railway Station, Banks, Communication means
and many other facilities are available in plenty. Which makes the business
journey feasible of their domestic and international clients who visit us
regularly.
They are also having their offices / representation in main cities of India and
also abroad to give best possible services to their customers.
Experts
Team of:
Production
Marketing
Client
Servicing
Research
& Development
Their
mission is to:- Design, Produce and Sell quality packaging materials at most
competitive prices. Be creative and concerned with economical and
environmentally sound package designs that provide their customers with
distinct advantages. To develop partnerships with their customers that solves
their packaging problems.
The motto of the Labh Group:- "Always Give People More Than They Expect To
Get" is self explanatory to understand the philosophy of the group to all
the persons associated with it.
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 |
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UK Pound |
1 |
Rs.78.93 |
|
Euro |
1 |
Rs.56.85 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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29 |
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 |
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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 |
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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 |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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