MIRA
INFORM REPORT
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Report Date : |
12.06.2007 |
IDENTIFICATION DETAILS
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Name : |
NRP PACKERS PRIVATE LIMITED |
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Registered Office : |
A – 212, 2nd Floor, Malhotra Complex, Lane – 1, Vikas Marg,
Shakarpur, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04.01.2000 |
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Com. Reg. No.: |
108022 |
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CIN No.: [Company
Identification No.] |
U21012DL2000PTC108022 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELN05919E |
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PAN No.: [Permanent
Account No.] |
AABCN1738N |
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Legal Form : |
Private Limited liability Company |
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Line of Business : |
Subject carry on the business of Paper Makers, Paper Bag Makers, Cardboard
Box Makers, Board Containers Carton And Cardboard And Dealers In Carbon
Paper, Sensitized Paper, Chemically Treated Paper, Litmus Paper, Photographic
Paper, Glass Paper, Emery Paper, Visiting, Festive, Complimentary And Fancy
Cards. |
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 : |
USD6924 |
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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 records. Directors are reported as experience 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 : |
A – 212, 2nd Floor, Malhotra Complex, Lane – 1, Vikas Marg,
Shakarpur, |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Naresh Chandra Jain |
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Designation : |
Director |
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Address : |
KL – 156, Kavi Nagar, |
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Date of Birth/Age : |
11.10.1941 |
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Date of Appointment : |
04.10.2000 |
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Name : |
Mrs. Payal Jain |
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Designation : |
Director |
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Address : |
R – 9/237, Raj Nagar, |
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Date of Birth/Age : |
02.12.1974 |
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Date of Appointment : |
04.10.2000 |
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Name : |
Mr. Vikas Kansal |
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Designation : |
Director |
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Address : |
KL – 156, Kavi Nagar, |
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Date of Birth/Age : |
02.10.1970 |
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Date of Appointment : |
16.12.2002 |
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Name : |
Mrs. Ritu Kansal |
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Designation : |
Director |
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Address : |
KL – 156, Kavi Nagar, |
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Date of Birth/Age : |
15.12.1971 |
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Date of Appointment : |
16.12.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Shri Naresh Chandra Jain |
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52600 |
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Shri Gaurav Jain |
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30000 |
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Shri Vikas Kansal |
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4000 |
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Smt. Ritu Kansal |
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4000 |
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Smt. Payal Jain |
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4100 |
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Smt. Vijay Rani |
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2800 |
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Category |
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Percentage of
Holding |
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Director or Relatives of Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject carry on the business of Paper Makers, Paper Bag Makers,
Cardboard Box Makers, Board Containers Carton And Cardboard And Dealers In
Carbon Paper, Sensitized Paper, Chemically Treated Paper, Litmus Paper, Photographic
Paper, Glass Paper, Emery Paper, Visiting, Festive, Complimentary And Fancy
Cards |
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GENERAL INFORMATION
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Bankers : |
Oriental Bank of
Commerce Wright Ganj
Branch, E –Mail: Edp_gzp@obc.co.in ABN Amro Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Anil K. Mathur and Associates Chartered Accountants |
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Address : |
206, 2nd Floor, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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97500 |
Equity Shares |
Rs.10/- each |
Rs.0.975
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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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0.975 |
0.975 |
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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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0.756 |
0.291 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.731 |
1.266 |
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LOAN FUNDS |
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1] Secured Loans |
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4.877 |
5.726 |
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2] Unsecured Loans |
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2.291 |
0.102 |
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TOTAL BORROWING |
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7.168 |
5.828 |
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DEFERRED TAX LIABILITIES |
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0.033 |
0.000 |
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TOTAL |
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8.932 |
7.093 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.943 |
1.908 |
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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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13.793 |
7.452 |
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Sundry Debtors |
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11.397 |
11.794 |
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Cash & Bank Balances |
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1.240 |
0.247 |
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Other Current Assets |
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0.141 |
0.066 |
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Loans & Advances |
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0.059 |
0.297 |
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Total
Current Assets |
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26.63 |
19.856 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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19.337 |
14.531 |
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Provisions |
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0.309 |
0.150 |
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Total
Current Liabilities |
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19.646 |
14.681 |
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Net Current Assets |
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6.988 |
5.179 |
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MISCELLANEOUS EXPENSES |
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0.003 |
0.006 |
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TOTAL |
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8.932 |
7.093 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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133.557 |
71.977 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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133.557 |
71.977 |
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Profit/(Loss) Before Tax |
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0.752 |
0.300 |
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Provision for Taxation |
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0.286 |
0.150 |
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Profit/(Loss) After Tax |
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0.466 |
0.150 |
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Total Expenditure |
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132.131 |
71.578 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.34 |
0.21 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.56 |
0.42 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.63 |
1.38 |
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Return on Investment (ROI) (PBT/Networth) |
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0.43 |
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
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11.34 |
11.59 |
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Current Ratio (Current Asset/Current Liability) |
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1.35 |
1.35 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
NRP PACKERS
PRIVATE LIMITED |
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Presented By |
Mr. Vikas Kansal,
Director |
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1) Date and description of instrument creating the change |
21.03.2005 Hypothecation
deed |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.4.000 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 |
Hypothecation by
way of first charges of all its stocks of polyester, films, adhesives,
hardening materials and other related material and receivables. Further
hypothecation of earlier existing and future net block of the company as on
31.03.2004 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure cash credit working capital limit of Rs.3.500 millions and bill
purchase of rs.0.500 millions. Rate of Interest @11% p.a. interest payable
with quarterly |
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5) Name and Address and description of the person entitled to the charge. |
Oriental Bank of
Commerce, Wright Ganj, |
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6) Date and brief description of instrument modifying the charge |
Hypothecation
deed – 21.03.2005 |
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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. |
The above is to
secured cash credit working capital limit of Rs.3.500 millions and bill
purchase of Rs.0.500 millions Rate of interest
@11%p.a. |
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Corporate
identity number (CIN) Foreign company registration number |
U21012DL2000PTC108022 |
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Name of the
Company |
NRP PACKERS
PRIVATE LIMITED |
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Address |
A – 212, 2ND
Floor, Malhotra Complex, Lane – 1, Vikas Marg Shakarpur, |
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This form is for |
Modification of
charge |
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Type of Charge |
Book Debts,
Movable Property, Floating Charges, Others |
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Particulars of
the charge holder |
Oriental Bank of Commerce Wright Ganj
Branch, E –Mail: Edp_gzp@obc.co.in |
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Amount secured by
the charge |
Rs.3.500 millions |
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Brief of the
principal terms and conditions |
Rate of Interest Interest @1% p.a.
over PLR of Bank. Present PLR of bank is 12.50% p.a. with minimum of
13.5%p.a.charged on monthly rests subject to changes in PLR / Internal Policy
of the Bank Penal interest
@2%p.a. over and above normal rate of interest Terms of repayments Cash Credit
Limit: Sanctioned for one year and repayable on demand Margin 25% against
Stocks and Receivables Extent and
operation of the charge Total Financial
facilities consist of : (1) cash credit
(Hypo and Book Debt) Limit Rs.3.000 millions (2) cheque /
Bills Purchase limit: Rs.0.500 millions |
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Brif description
of the instrument modifying the charge under section |
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Date of
Instrument |
30.03.2007 |
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Particular of the
present modification |
Total Financial facilities
of Rs.4.000 millions consisting of (1) Cash Credit (Hypo. And Book Debts)
Limit: Rs.3.500 millions (2) Cheque /
Bills purchase Limit: Rs.0.500 millions reduced to Rs.3.500 millions
consisting of (a) cash credit (Hypo and Book Debts) Limit: Rs.3.000 millions
(b) cheque / Bills purchase limit Rs.0.500 millions |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.91 |
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1 |
Rs.80.46 |
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Euro |
1 |
Rs.54.60 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
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 |
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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
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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 |
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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/normal. |
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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