MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
LIBRA
INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
Thanthewal,
Nalagarh, Solan-174101, Himachal Pradesh-174101 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.03.1981 |
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Com. Reg. No.: |
06-4469 |
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CIN No.: [Company
Identification No.] |
U25209HP1981PLC004469 |
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Legal Form : |
Closely
held Public Limited Liability Company |
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Line of Business : |
To
carry o in India or elsewhere the business of manufacturing, processing,
coating, importing, exporting, buying, selling, transporting, distributing
and dealing in all kinds of polythene, polyurethane acrylic and cellulose
compounds. All kinds of P.V.C./ Polythene acrylic and cellulose compounds.
Shoes, bags luggage materials, garments To
carry on in India and elsewhere the business of manufacturing of all kinds of
chemicals, essence, pectins, preservatives, adhesives, gums, sealing
materials, paints and such other items used in manufacture of items stated
above. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
350000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established company having satisfactory track. Trade relations are
fair. General financial position is satisfactory. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
Thanthewal,
Nalagarh, Solan, Himachal Pradesh, Himachal Pradesh-174101, India |
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Tel. No.: |
91-1795-222943 |
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E-Mail : |
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Partnership Firm : |
Aroma
Enterprises 4834/24,
Ansari Road, Darya Ganj, New Delhi-110002, Delhi, India |
DIRECTORS
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Name : |
Mr.
Pankaj Jain |
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Designation : |
Director |
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Address : |
10-C,
Court Lane, Civil Lines, Delhi-110054 |
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Date of Birth/Age : |
20.10.1958 |
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Date of Appointment : |
20.04.1995 |
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Name : |
Mr.
Samir Jain |
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Designation : |
Director |
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Address : |
2011,
2nd Floor, Emerald House, S. D. Road, Secunderabad, Andhra Pradesh |
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Date of Birth/Age : |
09.07.1965 |
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Date of Appointment : |
20.09.1999 |
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Name : |
Mr.
Prateek Jain |
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Designation : |
Director |
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Address : |
10-C,
Court Lane, Civil Lines, Delhi-110054 |
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Date of Birth/Age : |
03.12.1984 |
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Date of Appointment : |
17.03.2006 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr.
Pankaj Jain |
154250 |
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Mrs.
Anju Jain |
188200 |
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Mrs.
Rekha Jain |
172300 |
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Mr.
Niraml Jain |
121350 |
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Mrs.
Bimal Prakash Jain |
45000 |
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Mr.
Pankaj Jain (HUF) |
1157000 |
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Mr.
Samir Jain |
1150000 |
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S. B.
Distributors Limited |
700000 |
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Pankaj
Jain (HUF) |
249750 |
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Mr.
Pankaj Jain |
200000 |
BUSINESS DETAILS
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Line of Business : |
To
carry o in India or elsewhere the business of manufacturing, processing,
coating, importing, exporting, buying, selling, transporting, distributing
and dealing in all kinds of polythene, polyurethane acrylic and cellulose
compounds. All kinds of P.V.C./ Polythene acrylic and cellulose compounds.
Shoes, bags luggage materials, garments To
carry on in India and elsewhere the business of manufacturing of all kinds of
chemicals, essence, pectins, preservatives, adhesives, gums, sealing
materials, paints and such other items used in manufacture of items stated
above. |
GENERAL
INFORMATION
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No. of Employees : |
100 |
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Bankers : |
Punjab
National Bank, Nalagarh, District Solan, Himachal Pradesh, India |
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Banking Relations : |
Satisfactory |
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Auditors : |
S.
Bhatnagar & Associates Chartered
Accountants Flat
No.12, 2nd Floor, Sheel Tara House, 4866/24, Ansari Road, Darya
Ganj, New Delhi-110002, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity
Shares |
Rs.10/- each |
Rs.200.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
5400250 |
Equity
Shares |
Rs.10/- each |
Rs.54.002 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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54.002 |
24.402 |
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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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32.396 |
41.656 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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86.398 |
66.058 |
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LOAN FUNDS |
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1] Secured Loans |
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38.392 |
41.325 |
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2] Unsecured Loans |
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0.001 |
12.031 |
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TOTAL BORROWING |
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38.393 |
53.356 |
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DEFERRED TAX LIABILITIES |
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2.081 |
1.909 |
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TOTAL |
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126.872 |
121.323 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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95.524 |
76.574 |
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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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16.840 |
27.036 |
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Sundry Debtors |
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17.180 |
16.877 |
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Cash & Bank Balances |
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1.049 |
1.673 |
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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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3.786 |
5.762 |
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Total Current Assets |
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38.855 |
51.348 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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9.554 |
6.479 |
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Provisions |
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0.563 |
0.220 |
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Total Current Liabilities |
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10.117 |
6.699 |
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Net Current Assets |
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28.738 |
44.649 |
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MISCELLANEOUS EXPENSES |
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0.962 |
0.100 |
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Deferred Revenue Expenditure |
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1.648 |
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TOTAL |
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126.872 |
121.323 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 (Estimated) |
31.03.2005 (Estimated) |
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Sales Turnover [including other income] |
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150.000 |
130.000 |
KEY
RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net Profit
Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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NA |
NA |
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Return
on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt
Equity Ratio (Total
Liability/Networth) |
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0.56 |
0.91 |
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Current
Ratio (Current
Asset/Current Liability) |
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3.84 |
7.66 |
LOCAL AGENCY
FURTHER INFORMATION
History :
The
company’s name has changed from Dev Foam Private Limited under the name of
Jagdambey Plastic Industries Private Limited to Libra International Limited
vide order dated 30.05.1995
Form
8 Particular for creation or modification of charges
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Name of the company |
LIBRA
INTERNATIONAL PRIVATE LIMITED |
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Presented By |
Mr. Pankaj
Jain, Director |
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1) Date and description of instrument creating the change |
Hypothecation of movable assets producing part of fixed/ block assets dated 01.05.1996 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.11.600 millions (Fund based Limit Rs.5.100 millions, Non-fund based Limit Rs.6.500 millions) |
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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 |
2nd charge on movable/ immovable block assets of the company. 1st being held by HDFC. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
ROI @ 17.75% p.a. subject to change time to time as per RBI guidelines, payable on demand. |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National Bank Nalagarh, District Solan, Himachal Pradesh |
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6) Date and brief description of instrument modifying the charge |
Hypothecation of current assets agreement dated 23.03.2003. |
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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. |
Adhoc Limit for Rs.5.000 millions (for one time only) sanctioning for unit 5 at Nalaguru @ 13.5% per annum ROI. |
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Corporation identity number or foreign company registrations number of the company |
U25209HP1981PLC004469 |
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Name of the company |
LIBRA
INTERNATIONAL PRIVATE LIMITED |
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Address |
Thanthewal,
Nalagarh, Solan, Himachal Pradesh, Himachal Pradesh-174101, India |
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This Form is for |
Modification
of charge |
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Type of Charges |
Book
debts and movable property (not being pledge) |
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Particular of the charge holder |
Punjab National Bank Nalagarh, District Solan, Himachal Pradesh E-Mail : skjhangra@pnb.co.in |
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Nature or description of the instrument creating charge |
Deed of hypothecation fo goods and book debts to secure cash credit facility. |
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Date of the instrument creating charge |
18.10.2006 |
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Amount Secure by the charge |
Rs.52.000 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
Rate of interest : BPLR+2.00%-1.00% at present 12.50% Margin : 25% on stock and 35% on book debts Extent and operation of the charge: 100% |
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Description of the property charge whether it is a charge on |
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Modification charge Charge identification number of the charge to be modified |
90170754 |
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Date of instrument modifying the charge |
26.05.2005 |
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Particulars of the Property charged |
All present and future stock of raw materials, stocks in progress, finished goods and stocks, spares lying at units, works, depos in transit, godowns, docks and elsewhere. All book debts (Both preset and future) outstanding decress, money receivables, government subsidies, claims, bills, contracts and investments. |
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Particulars of present modification |
Amount modified to Rs.52.000 millions |
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.44.16 |
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UK Pound |
1 |
Rs.86.00 |
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Euro |
1 |
Rs.57.56 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
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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 |
|
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 |
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<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 |
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