MIRA
INFORM REPORT
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Report Date : |
20.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
PARIKH
PACKAGING PRIVATE LIMITED |
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Registered Office : |
Opposite
Rotomac Pens, Sarkhej Bawla Highway, Village – Moraiya Taluka- Sanand,
Ahmedabad – 382213, Gujarat, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
22.10.1999 |
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Com. Reg. No.: |
04-36763 |
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CIN No.: [Company
Identification No.] |
U25209GJ1999PTC036763 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMP00631B |
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PAN No.: [Permanent
Account No.] |
AABCP789F |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer
of Packing and Packaging articles |
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 : |
USD35000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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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. Business is active. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
Opposite
Rotomac Pens, Sarkhej Bawla Highway, Village – Moraiya Taluka- Sanand,
Ahmedabad – 382213, Gujarat, India |
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Tel. No.: |
91-2717-251106 |
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Mobile No.: |
91-9825047474 |
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Fax No.: |
91-2717-251106 |
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E-Mail : |
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Website : |
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Administrative Office: |
29, 3rd
Floor, Sri Krishna Centre, Near Mithakhali Six Road, Navrengpura, Ahmedabad -
380009 |
DIRECTORS
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Name : |
Mr
Ramesh Ochavlal Parikh |
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Designation : |
Director |
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Address : |
514,
Lane No 21, Satagrah Chhavni, Satellite Road, Ahmedabad – 380015, Gujarat |
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Date of Birth/Age : |
14.08.1945 |
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Date of Appointment : |
22.10.1999 |
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Name : |
Mr
Pavan Ramesh Parikh |
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Designation : |
Director |
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Address : |
514,
Lane No 21, Satagrah Chhavni, Satellite Road, Ahmedabad – 380015, Gujarat |
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Date of Birth/Age : |
23.12.1975 |
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Date of Appointment : |
22.10.1999 |
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Name : |
Mr
Pranav Ramesh Parikh |
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Designation : |
Director |
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Address : |
514,
Lane No 21, Satagrah Chhavni, Satellite Road, Ahmedabad – 380015, Gujarat |
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Date of Birth/Age : |
11.03.1974 |
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Date of Appointment : |
22.10.1999 |
MAJOR SHAREHOLDERS
Equity Share Holders as on 31.03.2005
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Mr
Rameshbhai O Parikh |
210800 |
84.32 |
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Mr
Pranavbhai R Parikh |
16600 |
6.64 |
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Mr
Pavanbhai R Parikh |
16600 |
6.64 |
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Mr Kamalkant
O Parikh |
100 |
0.04 |
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Mrs
Jyotsnaben K Parikh |
100 |
0.04 |
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Mr
Ketanbhai K Parikh |
100 |
0.04 |
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Mr
Samirbhai K Parikh |
100 |
0.04 |
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Mr
Niravbhai K Parikh |
100 |
0.04 |
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Mrs
Hemaben N Parikh |
100 |
0.04 |
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Mrs
Sonaliben S Parikh |
100 |
0.04 |
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Mrs
Namrataben K Parikh |
100 |
0.04 |
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Mr
Satisbhai O Parikh |
100 |
0.04 |
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Mr
Satisbhai O Parikh – HUF |
100 |
0.04 |
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Mrs
Ritaben S Parikh |
100 |
0.04 |
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Mr
Anujbhai S Parikh |
100 |
0.04 |
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Mrs
Rajanben R Parikh |
100 |
0.04 |
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Mrs
Amiben P Parikh |
100 |
0.04 |
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Mr
Occhavlal M Parikh |
100 |
0.04 |
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Mrs
Shradhaben O Parikh |
100 |
0.04 |
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Mrs
Amritaben S Parikh |
100 |
0.04 |
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Mr
Pradipbhai K Shah |
100 |
0.04 |
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Mrs
Monaliben P Shah |
100 |
0.04 |
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Mrs
Niveditaben P Shah |
100 |
0.04 |
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Mr
Umeshbhai R shah |
100 |
0.04 |
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Mr
Nayanbhai A Shah – HUF |
100 |
0.04 |
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Mr
Shrenikbhai A Shah – HUF |
100 |
0.04 |
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Mrs
Rekhaben U Shah |
100 |
0.04 |
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Mr
Kairavbhai U Shah |
100 |
0.04 |
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Mr
Chintanbhai U Shah |
100 |
0.04 |
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Mr
Yogesh K Shah – HUF |
100 |
0.04 |
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Mr
Yogendrabhai K Shah |
50 |
0.02 |
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Mrs
Sonaliben Y Shah |
100 |
0.04 |
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Mr
Rameshbhai O Parikh – HUF |
500 |
0.20 |
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Mrs
Sharmisthaben Y shah |
50 |
0.02 |
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Mr
Pavanbhai R Parikh – HUF |
500 |
0.20 |
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Mr
Pravanbhai R Parikh – HUF |
500 |
0.20 |
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Mrs
Ranjanben K Doshi |
500 |
0.20 |
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Mrs
Bhartiben O Parikh |
500 |
0.20 |
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Mr
Kaniyalal Navnitlal Parikh |
500 |
0.20 |
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Total |
250,000 |
100.00 |
Redeemable Preference Share Holders as on
31.03.2005
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr
Pranavbhai R Parikh |
120000 |
48.00 |
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Mr
Pravanbhai R Parikh – HUF |
5000 |
2.00 |
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Mr
Panavbhai R Parikh |
120000 |
48.00 |
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Mr
Pavanbhai R Parikh – HUF |
5000 |
2.00 |
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Total |
250000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Packing and Packaging articles |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
The
Karur Vyasya Bank Limited Motilal
Centre, Ashram Road, Ahmedabad – 380009, Gujarat, India |
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Banking Relations : |
Satisfactory |
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Auditors : |
Tarang
R Kothari and Associates Chartered
Accountants |
CAPITAL STRUCTURE
As on 30.09.2005
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
250,000 |
Equity
Shares |
Rs 10/- each |
Rs 2.500 Millions |
|
250,000 |
Preference
Shares |
Rs 10/- each |
Rs 2.500 Millions |
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Total |
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Rs 5.000 Millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
250,000 |
Equity Shares |
Rs 10/- each |
Rs 2.500
Millions |
|
250,000 |
Preference Shares |
Rs 10/- each |
Rs 2.500
Millions |
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Total |
|
Rs 5.000 Millions |
As on 30.09.2006
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity Shares |
Rs 10/- each |
Rs 5.000
Millions |
|
500,000 |
Preference Shares |
Rs 10/- each |
Rs 5.000
Millions |
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Total |
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Rs 10.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity Shares |
Rs 10/- each |
Rs 5.000
Millions |
|
500,000 |
Preference Shares |
Rs 10/- each |
Rs 5.000
Millions |
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Total |
|
Rs 10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
5.000 |
2.500 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
3.949 |
2.941 |
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4] (Accumulated Losses) |
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---- |
----- |
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NETWORTH |
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8.949 |
5.441 |
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LOAN FUNDS |
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1] Secured Loans |
|
38.033 |
26.453 |
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2] Unsecured Loans |
|
43.651 |
41.937 |
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TOTAL BORROWING |
|
81.684 |
68.390 |
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DEFERRED TAX LIABILITIES |
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2.709 |
1.902 |
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TOTAL |
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93.342 |
75.733 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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43.834 |
29.006 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
|
2.672 |
0.474 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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12.535 |
12.002 |
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Sundry Debtors |
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38.218 |
30.325 |
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Cash & Bank Balances |
|
0.793 |
0.308 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
9.771 |
11.460 |
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Total Current Assets |
|
61.317 |
54.095 |
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Less : CURRENT LIABILITIES & PROVISIONS |
|
14.491 |
7.855 |
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Total Current Liabilities |
|
14.491 |
7.855 |
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Net Current Assets |
|
46.826 |
46.240 |
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MISCELLANEOUS EXPENSES |
|
0.009 |
0.012 |
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TOTAL |
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93.341 |
75.732 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
|
136.237 |
129.243 |
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Profit/(Loss)
Before Tax |
|
1.971 |
1.367 |
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Provision
for Taxation |
|
0.156 |
0.105 |
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Profit/(Loss)
After Tax |
|
1.815 |
1.262 |
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Total
Expenditure |
|
132.414 |
126.523 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
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|
PAT / Total Income |
|
|
1.33 |
0.97 |
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Net
Profit Margin(PBT/Sales) |
|
|
1.44 |
1.05 |
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Return
on Total Assets(PBT/Total Assets} |
|
|
1.87 |
1.64 |
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Return
on Investment (ROI)(PBT/Networth) |
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|
0.22 |
0.25 |
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Debt Equity
Ratio(Total Liability/Networth) |
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|
10.74 |
14.01 |
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Current
Ratio(Current Asset/Current Liability) |
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|
4.23 |
6.88 |
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LOCAL AGENCY
FURTHER INFORMATION
Parikh Packaging - is the newest venture of Parikh Group and has
created a niche in the market as Packaging Solution Providers to a wide
spectrum of industries. The ISO 9002 company in a short span of three years has
forged ahead growing three folds in the last year itself. They are providers of
food packaging solution, liquid packaging solution, pharmaceutical packaging
solution, packaging pouch, packaging bags, plastic packaging solution and other
packaging materials in India.
The company is all set to serve the
Pharmaceutical, Food and FMCG industry Its primary focus is to provide Quality
Products along with optimum Customer Service. This has been achieved through
implementation of formal organizational structures and operational systems
thereby attaining the highest level of professionalism.
With international markets in sight, Parikh Packaging is dedicated to provide
the highest quality standards at a reasonable price with maximum customer
satisfaction.
Today, the company constantly addresses new challenges and finds innovative
solutions thus carving a unique position within the packaging industry.
Infrastructure..
The new factory at Ahmedabad is
designed engineered to be a one-stop shop for all printing and packaging needs.
To meet the strict requirements of Food and Pharmaceutical industries and its
responsibility towards public health, the company has invested heavily in
Hygiene and a Controlled environment.
The above is achieved in 20,000
sq. ft of Clean, Dust free, Insect free environment thus ensuring the packaging
material which carries the sales appeal and shelf life reaches the customer with
utmost care.
To provide multi-coloured and
multi-dimensional printing and packaging the company's production facilities
includes three multicolour Printing lines Versatile Lamination machine,
Slitting / Rewinding/ Doctoring machines.
Infrastructure and technology
pave way to fulfil customer needs.
Products..
|
Quality Control..
Quality
Control Department is equipped to meet the most stringent demands of the
clients. Vigorous tests are carries out under strict Standard Operating
Procedures (SOP) for all raw materials and finished products to ensure that
clean, hygienic and defect free products are delivered to the customers.
Measures for Quality Control
|
Infrastructure
and technology are the tools, but the Quality Control Department provides the
cutting edge.
Our Strengths..
The
company believes in investing substantially in one of its most valuable assets
manpower.
Today Parikh Packaging family comprises of technocrat team, striving
collectively towards achieving a common goal of taking the company to greater
heights.
Efficient
human resource has let Parikh Packaging reach the pinnacle that it is on today.
The
Company in a nutshell.
Packaging Pouches,
Packaging Bags & Packaging Rolls
The
subject is a manufacturer and supplier of Packaging Pouches, Packaging Bags
& Packaging Rolls in India. The organization offers a variety of high
quality packaging material like: pouches, bags and rolls for a host of food
items.
Packaging Bags and Packaging Rolls
These are attractive in appearance and truly combine designs with
functionality. The material used is strong and reliable. These are used for an
enormous range of products that include: dry fruits, fruit juices,
pharmaceutical products etc. Bags are supplied in flat and gusseted flat types
with bottom heat seal or sewed seal. A wide range of bags for raw materials
heavy duty packaging include: dry foods, sugar, animal feeds, coffee bean,
cereal, powdered milk, plastic resin etc. The material structure can be made as
per the needs of the customers' products characteristics. Bags are supplied in
flat and gusseted flat types with bottom heat seal or sewed seal. The subject
is a manufacturer and supplier of packaging pouches, packaging bags, packaging
rolls, food packaging pouches, food packaging bags & food packaging rolls.
Packaging Pouches
The variety of pouches used as packaging material include:
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Standup Packaging
Pouches
Centre Seal
Packaging Pouches
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Zipper Packaging
Pouches
- Pan Masala,
Zafrani Patti, Tobacco, Khaini
- Herbal Henna
Powder.
- Tea, Coffee.
Namkeen.
- Candies &
Chocolate.
- Distemper,
Cement Colours.
- Grease
Retort Pouches for
processed foods
- Daal Makhani
- Matter Paneer
- Sarson Ka Saag
- Chicken Biryani
- Palak Paneer
Gussetted Packaging
Pouches
- Tea
- Namkeen
- Tobacco
- Powder, Toner
- Grease
Distemper, Cement
Colours
The subject at, Parikh Packaging Pvt. Ltd., are
manufacturers and suppliers of packaging pouches, packaging bags &
packaging rolls in India. These are material used is strong, reliable,
attractive in appearance and truly combine designs with functionality.
Food Packaging Foils &
Food Packaging Materials
The
subject is a manufacturer and supplier of Food Packaging Foils & Food
Packaging Materials in India. The company offers total packaging solutions for
all varieties of food items adopting different material constructions.
Packaging Materials for Chilled Food Items
Packaging
items made of PET, nylon, PE lamination have high strength under frozen
conditions and therefore best suited for packing frozen food products. Standing
pouches are used for refrigerated products and retortable pouches are ideal for
frozen and refrigerated meal.
Packaging Materials for Liquid Food Products
Liquid
items need special care and attention while packing. Various types of fruit
juices, oils, chemicals and other drinks are packed in items produces from
laminated film with barrier properties.
Packaging Materials
for Meat Products
Vacuum pouches make perfect packaging material for exclusive packaging of meat,
chicken, fish etc. Having the required strength, saleability and product
protection features, the coextruded pouches are highly functional in retaining
the taste and aroma of the products. The high moisture barrier present in the
packaging item conserves the natural juice of the products.
Packaging Materials for Dry Groceries
The aromatic dry groceries need superior packaging items to retain their aroma
and flavor. The chief dry groceries are: coffee, tea, milk, pasta, rice,
powdered soup etc. The packing items range from a variety of pouches, bags with
lamination or solvent-based. The laminated multi-layer material ensures the
protection of these dry groceries from water vapor and aroma loss. Further,
these items can also be vacuum packed for protection.
The subject is at, Parikh
Packaging Pvt. Ltd., manufacturers and suppliers of food packaging foils
& food packaging materials for chilled food items, liquid food products,
meat products, dry groceries and many more.
Pharmaceutical Packaging
Materials
Subject is a manufacturers and suppliers of
Pharmaceutical Packaging Materials like strip foils, blister foils, cold form
aluminium foils etc. The company offers total packaging solutions for all
varieties of pharmaceutical items adopting different material constructions.
Strip
Foils
The foil
material is soft fully annealed aluminum alloy with colorless LDPE as the
sealant. The peel Strength of LDPE to foil is 200 gms/15 mm min and seal
strength of foil is 450 gms/15 mm min. The supply of these material can be in
reel form, jumbo roll, reel wandering or card board carton.
Blister Foils
Hard
Aluminum Alloy is used as the foil material in pharmaceutical packaging. The
heat seal coatings are colorless vinyl coatings that conform to the government
regulations regarding direct contact with medicines and drugs. Thus, they are
totally safe as packaging materials. This resin is suitable for heat sealing to
PVC / PVDC coated PVC Films. The company provides lacquer coating if required.
The packing of pharma products is normally done Card Board Cartons or as
specified by the clients.
Test Certificate can be provided for actual observed values of different
parameters.
Cold Form
Aluminium foils have unique codforming quality and is a total barrier material.
Thus, it is very good for specific applications PVC can be replaced by a PP
film. It is used for packaging of tablets, capsules, pills and is ideal for for
coldform blister packaging machines.
Manufacturers, exporters and suppliers of Pharmaceutical Packaging Materials
like strip foils and blister foils in India. Our products are made from
materials that are strong, reliable, attractive in appearance and truly combine
designs with functionality.
Other Packaging Products
Exclusive
packaging is necessary for various types of non-food items too. These include :
different types of soaps & detergents, cigarettes, paper tissues, shampoo
and industrial products and much more. The subject is a manufacturer, exporter
and supplier of packaging materials and packaging products in India.
The organization is well geared to support large diameter packaging such as
canvas, a heat shield and picnic pad. Specialized paper and surface coatings
provide high gloss varnish finishes as a low cost alternative to film or paper
laminations. The varieties of form, fill and seal packaging and pouches are
available in various film structures.
|
Name of the company |
PARIKH PACKAGING PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Agreement
of Mortgage/ Charge created on 29.06.2006 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs
1.700 Millions |
|
3) Gist of the terms and conditions and extent and operation of the charge. |
|
|
4) Name and Address and description of the person entitled to the charge. |
The
Karur Vyasya Bank Limited Ashram
Road, Ahmedabad – 380009, Gujarat, India |
|
5) Date and brief description of instrument modifying the charge |
29.06.2006 |
|
Name of the company |
PARIKH PACKAGING PRIVATE LIMITED |
|
Presented By |
MR RAMESH O PARIKH |
|
1) Date and description of instrument creating the change |
Deed
of hypothecation of plant and machinery dated 14.02.2002 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Term
Loan (machinery) limit of : Rs 1.500 Millions Term
Loan (machinery) limit of : Rs 11.500 Millions Total Rs 13.000 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 |
All
those machine being printing machines, slitting machine, rotary cutter, control
system etc. of the borrowers lying at factory situated at changodar 2] All
those machine being three colour rotograviler printing machine, tension
control system fry lamination machine and electrical fittings thereof |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest
rate @ 14% shall be charged and margin for machinery @25% per Annum. |
|
5) Name and Address and description of the person entitled to the charge. |
The Kurur Vysya Bank Limited Motilal
Centre, Ashram Road, Ahmedabad – 380009 |
|
6) Date and brief description of instrument modifying the charge |
Agreement
of foreign currency Loan dated 04.10.2004 |
|
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. |
Total
limits sanctioned to the company remaining the same at Rs 49.008 Millions and
the securities remaining the same, the company has been permitted to avail
foreign, currency loan equivalent to Rs 10.000 Millions out of existing
facilities already granted by converting the existing rupees loan. The said
foreign currency loan shall carry interest @LIBOR +4% p.a. All other terms
and conditions remaining unchanged. |
|
Name of the company |
PARIKH PACKAGING PRIVATE LIMITED |
|
Presented By |
MR RAMESH O PARIKH |
|
1) Date and description of instrument creating the change |
Equitable
Mortgage of land and Building dated 14.02.2002 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Term
Loan (Building) : Rs 3.000 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 |
Piece
of parcel of non-agricultural construction freehold land admeasuring 5945.68
Sq. meter of revenue survey no 432 part situated at Mouje Moraiya Taluka,
Sanand in the district 7 and sub district of ahmedabad and construction of
building on the said land. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest
rate @ 14% shall be charged and margin for building @50% per Annum. |
|
5) Name and Address and description of the person entitled to the charge. |
The Kurur Vysya Bank Limited Motilal
Centre, Ashram Road, Ahmedabad – 380009 |
|
6) Date and brief description of instrument modifying the charge |
Agreement
of foreign currency Loan dated 04.10.2004 |
|
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. |
Total
limits sanctioned to the company remaining the same at Rs 49.008 Millions and
the securities remaining the same, the company has been permitted to avail
foreign currency loan equivalent to Rs 10.000 Millions out of existing
facilities already granted by converting the existing rupees loan. The said
foreign currency loan shall carry interest @LIBOR +4% p.a. All other terms
and conditions remaining unchanged. |
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.44.30 |
|
UK
Pound |
1 |
Rs.87.61 |
|
Euro |
1 |
Rs.57.61 |
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/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 |
|