%20PRIVATE%20LIMITED%2029-Jun-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ELAMACH PACKAGES ( |
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Registered Office : |
410, Hill View Industrial Estate, Off. L.B.S. Marg,
Ghatkopar (West), Mumbai – 400086, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.12.1988 |
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Com. Reg. No.: |
049939 |
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CIN No.: [Company
Identification No.] |
U28129MH1988PTC049939 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM19852A |
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PAN No.: [Permanent
Account No.] |
AAACEO940Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture of Blister Packing Machine and Lobe Pumps |
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 3800 |
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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 company having satisfactory track. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. 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 / Corporate Office : |
410, Hill View Industrial Estate, Off. L.B.S. Marg,
Ghatkopar (West), Mumbai – 400086, |
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Tel. No.: |
91-22-25008007/8071/7217/25951703 / 2500 6658 / 6046 |
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Mobile No.: |
91-22-25008684 / 8910 |
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E-Mail : |
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Website : |
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Sales & Service Office: |
AHMEDABAD:
CHENNAI:
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DIRECTORS
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Name : |
Mr. Sukumarao P Puthiyapurayil |
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Designation : |
Director |
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Address : |
13, Manjula, Plot No. 52, Pestom Sagar, Chembur – 400089 |
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Date of Birth/Age : |
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Date of Appointment : |
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Name : |
Mr. Sulochamc S. Puthiyapurayil |
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Designation : |
Director |
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Address : |
13, Manjula, Plot No. 52, Pestom Sagar, Chembur – 400089 |
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Date of Birth/Age : |
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Date of Appointment : |
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Name : |
Mr. Sudish S. Puthiyapurayil |
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Designation : |
Director |
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Address : |
13, Manjula, Plot No. 52, Pestom Sagar, Chembur – 400089 |
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Date of Birth/Age : |
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Date of Appointment : |
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MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr. Sukumarao P Puthiyapurayil |
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5800 |
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Mr. Sulochamc S. Puthiyapurayil |
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3860 |
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Mr. Sudish S. Puthiyapurayil |
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20 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Blister Packing Machine and Lobe Pumps |
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Products : |
v Blister Pack Machines v Defoilers v Change Parts v Lobe Pumps |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Blister Pack Machines |
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102 Nos |
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Machines Change Parts/ Spares |
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3111 Nos 184 Sets 810 Nos 108 Set 3 Boxes 14 Mtrs 3 Kgs |
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Pumps |
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5 Nos |
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Pumps Spares |
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6 Nos 2 Sets |
GENERAL INFORMATION
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Suppliers : |
v Atul Agency v Libra Agencies Private Limited v Brincex Sales Corporation v Den Publishing v Buiness India Datatase Private Limited |
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Customers : |
v Cosme Pharma Limited v Glenmarte v Airpack Expores v Cipla Limited v Induswife Limited v Priscar India Limited v FDC Limited v Dr. Reddy’s v IPCA Laboratories Limited v Alkem v RPG Life Science v
v Strides Arcolab v Novartis v Merck Limited |
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No. of Employees : |
200 |
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Bankers : |
Canara Bank, |
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Facilities : |
Credit Facility – Rs. 1.500 Millions 22.10. 2003 Credit Facility – Rs. 1.000 Millions 24.02.1999 |
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Banking Relations
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- |
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Auditors : |
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Name : |
S R Ghordia & Company Chartered Accountant |
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Address : |
B – 102, Labh Ashish, Old Polics atrs Lane, Andheri (West), Mumbai – 400069 |
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Tel. No.: |
91-22-28381066 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 100/.00 Each |
Rs. 1.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9680 |
Equity Shares |
Rs. 100.00 Each |
Rs. 0.968 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.968 |
0.968 |
0.968 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
13.161 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.968 |
0.968 |
14.129 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
23.131 |
14.407 |
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TOTAL |
24.099 |
15.375 |
14.129 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.766 |
12.161 |
11.515 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.674
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5.836 |
5.409 |
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Sundry Debtors |
54.204
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48.860 |
38.959 |
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Cash & Bank Balances |
0.797
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0.463 |
0.242 |
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Other Current Assets |
19.790
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9.764 |
0.000 |
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Loans & Advances |
0.000
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0.000 |
11.421 |
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Total
Current Assets |
80.465
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64.923 |
46.710 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
66.985
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58.252 |
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Provisions |
4.146
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3.458 |
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Total
Current Liabilities |
71.131
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61.710 |
44.096 |
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Net Current Assets |
9.333
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3.214 |
2.614 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
24.099 |
15.375 |
14.129 |
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%20PRIVATE%20LIMITED%2029-Jun-2007_files/image003.gif){kind=small}
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
268.327 |
204.377 |
150.143 |
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Profit/(Loss) Before Tax |
13.685 |
3.714 |
3.246 |
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Provision for Taxation |
0.000 |
0.000 |
1.142 |
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Profit/(Loss) After Tax |
13.685 |
3.714 |
2.104 |
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Export Value |
0.000 |
0.000 |
20.385 |
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Import Value |
0.000 |
0.000 |
2.640 |
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Expenditures : |
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Total Expenses |
254.642 |
200.662 |
146.896 |
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Interest |
0.004 |
0.000 |
0.000 |
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Total Expenditure |
257.025 |
202.898 |
146.896 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
5.10
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1.82 |
1.40 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.10
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1.82 |
2.16 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.37
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4.82 |
5.57 |
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Return on Investment (ROI) (PBT/Networth) |
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14.14
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3.84 |
0.22 |
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Debt Equity Ratio (Total Liability/Networth) |
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73.48
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69.95 |
3.12 |
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Current Ratio (Current Asset/Current Liability) |
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1.13
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1.05 |
1.05 |
LOCAL AGENCY FURTHER INFORMATION
Operation:
They are to inform that there was an all round development in company performances during the current year. The company has achieved sales of Rs. 268.327 Millions
During the year under review and net profit of Rs. 13.685 Millions. The directors are hopeful of improving the working of the company still further.
Fixed Assets:
v
v Factory
v Flat at Vashi
v Furniture & Fixture
v Office Equipment
v Motor Car
v Plant & Machinery
Website details attached
They had begun with rotary machines EPI-1000 and EPI-2000
in 1988. This was followed by smaller machines EPI-MINI and EPI-MINI
(MODIFIED) in 1991. For packing vials and ampoules they
introduced EPI-2000 FB.
Pharma Companies prefer their EPI-3000
FB for packing multitude of capsules, tablets and caplets. State-of-the-art
EPI-3020 blitz is the only machine for PVC/ALU, ALU/ALU (AFT) and tri-laminated
Tropical Pack. Their machine line up was extended with EPI-2300; and EPI-2500, world's first rotary
blister pack machine with 1:1 print registration and online pack emptying of
miss-filled packs. In the new millennium ELMACH
launched EPI-3020
blitz, the high-speed servo-driven machine for thermo-formed and cold-formed
blister packs. The year 2003 was marked by the launching of WKH-100, Cartoner in technical collaboration
with 'WEIPACK',
Building relationships all along...
Their esteemed clients include MNCs and Pharma Companies like CIPLA,
FDC, Dr. Reddy's, IPCA, ALKEM, RPG Life Science, Ajanta Pharma, Strides
Arcolab, Novartis, Merck, etc. Their customers in countries like Great Britain,
Germany, United States of America, Holland, Africa, Latin American countries,
Brazil, Mexico, Venezuela, etc. underline their global presence.
Leadership through Technology
ELMACH's business story is punctuated by blister pack machines and cartoners. Use of advanced engineering technology, processes, machining capability and fully-equipped Quality Control give ELMACH high degree of refinement essential for high quality machine-building.
Skilled workforce, R&D team with all ears to customers and dedicated
market-savvy Sales team nurture the ELMACPACK
brand.
All their machines are cGMP models. Through cutting edge expertise and
lateral thinking, ELMACH
offers promising range of 17 machine models that include both Flat Bed and
Rotary types. With thermo-forming and cold-forming features. Consistent
innovation and developments fuelled by customer needs for productivity,
durability, flexibility and cost-efficacy have resulted in their range of
Alu-Alu blister pack machines: EPI-500
XT, EPI-2515
This amazing range of machines offers output of 25 packs to 480 packs
per minute. This means technology made affordable to the end users. Their
cartoner WKH-100,
manufactured in technical collaboration with 'WEIPACK',
Research and Development:
Setting a trend needs research and monitoring of market pulse. They have
a team of self-motivated engineers empowered by experience and prudence.
Innovations through state-of-the-art technology results in their new models. ELMACH created world's first rotary
blister pack machine (EPI-2500)
with 1:1 print registration and online pack emptying for miss-filled packs.
Launching of EPI-500XT
has revolutionized Alu-Alu Blister packing.
They plan to implement new technology, upgrade the existing machines and create
new trends in packaging. With this vision, ELMACH has tied up with 'MERZ',
Their growth and development are dominated by their responsive approach to
their customers, consumers and the environment. With these responsibilities at
all levels in the organization, ELMACH
will continue setting trends in the packaging technology in the years to come.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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
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Indian Rupees |
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US Dollar |
1 |
Rs. 40.75 |
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|
1 |
Rs. 81.63 |
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Euro |
1 |
Rs. 54.79 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
NO |
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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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54 |
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 |
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|
>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 |
|
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 |
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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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