MIRA
INFORM REPORT
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Report Date : |
13.10.2007 |
IDENTIFICATION DETAILS
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Name : |
PREMIUM PAPER AND BOARDS INDUSTRIES LIMITED |
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Formerly Known As : |
GANDHITEX MULTIPLEX LIMITED |
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Registered Office : |
1st Floor, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.04.1996 |
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Com. Reg. No.: |
99075 |
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CIN No.: [Company
Identification No.] |
L21010MH1996PLC099075 |
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TAN No.: [Tax
Deduction & Collection Account
No.] |
MUMG08418E |
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PAN No.: [Permanent
Account No.] |
AAACG3599F |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Suppliers of Paper and Paper Boards. |
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 462076 |
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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 : |
1st Floor, |
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Tel. No.: |
91-22-56602278 |
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E-Mail : |
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Website : |
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Administrative office: |
A/202, Kol Dongri Cooperative Housing Society, |
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Tel. No.: |
91-22-32941873 / 32952379 / 65802278 / 56802278 / 28252228 /9 /
56602278 |
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Fax No.: |
91-22-28252228 / 9 |
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E-Mail : |
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Websites: |
DIRECTORS
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Name : |
Mr. Praful Gandhi |
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Designation : |
Managing Director |
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Address : |
548/11, Gautam Niwas, |
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Date of Birth/Age : |
24.07.1954 |
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Date of Appointment : |
23.04.1996 |
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Name : |
Mr . Avinash Gandhi |
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Designation : |
Director |
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Address : |
74/1, |
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Date of Birth/Age : |
03.02.1971 |
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Date of Appointment : |
23.04.1996 |
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Name : |
Mr. N E Pathan |
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Designation : |
Director |
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Address : |
Plot No.1, Laxmi Nagar, opposite Dhobi Talao, Valsad, |
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Date of Birth/Age : |
18.11.1960 |
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Date of Appointment : |
01.08.2003 |
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Name : |
Mr. Mitesh Gandhi |
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Designation : |
Director |
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Address : |
74/1, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Parimal K Gandhi |
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6400 |
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Mr. Kanaiyalal Gandhi |
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100 |
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Mr. Jatin K Gandhi |
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111800 |
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Mr. Pravin Gandhi |
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3000 |
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Mr. Vinay Gandhi |
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100 |
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Mr. Praful Gandhi |
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272500 |
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Mr. Mitesh Gandhi |
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152912 |
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Mer. U |
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100 |
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Mr. Avinash Gandhi |
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234000 |
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Mr. Praful Gandhi (HUF) |
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104200 |
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Mrs. Neha Gandhi |
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103150 |
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Mr. Pravin Gandhi (HUF) |
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74000 |
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Mrs. Vasanti Gandhi |
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65200 |
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Mrs. Deepali Gandhi |
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22100 |
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Mrs. Smita Gandhi |
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153500 |
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Mr .Vinay Gandhi (HUF) |
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269700 |
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Mrs. Poonam Gandhi |
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15500 |
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Mr. Parimal Gandhi |
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26000 |
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Mr. Kanaihyalal Gandhi |
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26500 |
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Mr. Jatin Gandhi (HUF) |
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30000 |
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Mrs. Sejuti Gandhi |
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33200 |
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Mrs. Priya Gandhi |
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30000 |
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Mr. Dinesh Mehta |
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97500 |
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Mrs. Ganga Mulchandani |
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10000 |
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Mr. Vishwas Paranjpe |
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33650 |
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Mr. Harendra Mehta |
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480100 |
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Mrs. Kirti Mehta |
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187500 |
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Orbit Equitfin P Limited |
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45000 |
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Plexus Securities and assets |
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170000 |
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Mr. Satish Mehta |
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234500 |
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Winson Capfin Private Limited |
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95000 |
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Mr. Jitesh Tahilani |
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10000 |
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Mrs. Lilavati Shantilal Gala |
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10000 |
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Mrs. Madhavi Parekh |
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50000 |
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Radhika Fabrics |
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50000 |
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Mrs. Rekha L Mulchandani |
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10000 |
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Mr. Kistu Mulchandani |
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20000 |
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Mr. N k Shastri |
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125000 |
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Gandhitex Finvest Limited |
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1620500 |
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Total |
4982712 |
Equity Share Break – up (Percentage of Total Equity)
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Sr.
No. |
Category |
Percentage |
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1 |
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Suppliers of Paper and Paper Boards. |
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Products: |
Paper board |
PRODUCTION STATUS as on 31.03.2005:-
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Particulars |
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Unit
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Licensed
Capacity |
Installed
Capacity |
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Paper Board |
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Tonnes |
18000 |
18000 |
GENERAL INFORMATION
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Bankers : |
The Shamrao Vithal Co-operative Bank
Limited Address: Building No. C, Chitrapur CHS
Limited, 27th Road, TPS III, Bandra (west), Mumbai – 400 050, |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
I P Mehta and Company Chartered Accountants |
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Address : |
12, Swati Apartments, |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity shares |
Rs.10/- each |
Rs. 100.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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7579487 |
Equity shares |
Rs.10/- each |
Rs. 75.794
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 |
75.795 |
64.395 |
65.606 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
39.724 |
9.244 |
3.429 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
115.519 |
73.639 |
69.035 |
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LOAN FUNDS |
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1] Secured Loans |
199.355 |
88.171 |
83.181 |
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2] Unsecured Loans |
19.721 |
18.923 |
12.078 |
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TOTAL BORROWING |
219.076 |
107.094 |
95.259 |
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DEFERRED TAX LIABILITIES |
10.117 |
6.262 |
2.212 |
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TOTAL |
344.712 |
186.995 |
166.506 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
145.271 |
124.519 |
130.934 |
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Capital work-in-progress |
95.691 |
11.757 |
1.303 |
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INVESTMENT |
0.101 |
0.101 |
0.100 |
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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 |
41.036
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34.549 |
21.420 |
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Sundry Debtors |
40.264
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27.436 |
19.962 |
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Cash & Bank Balances |
4.481
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6.651 |
4.300 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
40.200
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11.311 |
11.263 |
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Total
Current Assets |
125.981
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79.947 |
56.945 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
19.882
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28.195 |
22.639 |
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Provisions |
2.450
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1.205 |
0.280 |
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Total
Current Liabilities |
22.332
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29.400 |
22.919 |
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Net Current Assets |
103.649
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50.547 |
34.026 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.071 |
0.143 |
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TOTAL |
344.712 |
186.995 |
166.506 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
256.751 |
212.025 |
146.333 |
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Other Income |
2.244 |
0.271 |
0.317 |
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Increase / Decrease in closing stock |
0.000 |
0.000 |
0.232 |
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Total Income |
258.995 |
212.296 |
146.882 |
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Profit/(Loss) Before Tax |
14.347 |
10.790 |
3.647 |
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Provision for Taxation |
135.179 |
4.975 |
1.431 |
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Profit/(Loss) After Tax |
[120.832] |
5.815 |
2.216 |
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Imports : |
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Raw Materials |
0.000 |
12.301 |
5.286 |
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Expenditures : |
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Manufacturing Expenses |
0.000 |
0.000 |
27.608 |
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Direct Expenses |
0.000 |
0.000 |
04.536 |
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Administration and Selling Expenses |
0.000 |
0.000 |
26.976 |
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Financial Charges |
0.000 |
0.000 |
13.172 |
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Preliminary Expenses |
0.000 |
0.000 |
0.071 |
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Loss on sale of assets |
0.000 |
0.000 |
0.031 |
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Raw Material Consumed |
115.772 |
95.906 |
695.010 |
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Increase/(Decrease) in Finished Goods |
[0.239] |
[0.718] |
0.000 |
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Salaries, Wages, Bonus, etc. |
1.651 |
1.532 |
0.000 |
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Managerial Remuneration |
1.140 |
1.040 |
0.000 |
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Payment to Auditors |
0.020 |
0.016 |
0.000 |
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Interest |
13.301 |
12.965 |
0.000 |
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Insurance Expenses |
0.864 |
0.452 |
0.000 |
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Power & Fuel |
20.805 |
20.130 |
0.000 |
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Depreciation & Amortization |
7.237 |
6.565 |
5.654 |
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Other Expenditure |
84.094 |
63.616 |
0.000 |
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Total Expenditure |
244.647 |
201.506 |
773.058 |
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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 |
(%) |
46.65
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2.73 |
1.50 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.58
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5.08 |
2.49 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.90
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4.99 |
1.92 |
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Return on Investment (ROI) (PBT/Networth) |
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0.12
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0.14 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.08
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1.85 |
1.71 |
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Current Ratio (Current Asset/Current Liability) |
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5.64
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2.71 |
2.48 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the
company |
GANDHITEX MULTIPLEX LIMITED |
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Presented
By |
· Shri Vimal V Dave Secretary and Chief Advisor · Gujarat Industrial Investment Corporation Limited 6th floor, Block No.11 & 12 Udyog Bhavan, Gandhinagar – 382 011 |
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1) Date and
description of instrument creating the change |
12.01.2001, Deed
of hypothecation executed by the Company in favour of |
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2) Amount secured
by the charge/amount owing on the securities of charge |
The term loan of
Rs. 25.000 millions agreed to be lent and advanced by GIIC to the company
together with interest, compound interest, additional interest, commitments
charges, premia on prepayment or on redemption costs, charges, expenses and
other monies payable by the company to GIIC in terms of the Loan Agreement
dated 12.01.2001 between company of the one part and the Lender of the other
part. |
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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 |
The whole of the
movable properties of the Company including its movable plant and
machineries, machinery, machinery spares, tools, vessel and accessories and
other movable, both present and future (save and except book Debts)
pertaining to the project situate at Village Anaval, taluka Mahuva and
district Surat in the state of Gujarat, whether installed or not and whether
now lying loose or in cases or which are now lying or stored in or about or
shall hereafter from time to time during the continuance of the security be brought
in to or upon or to be stored or be in about the Company factories, premises
and godown or wherever else the same may be or be held by any party to the
order or disposition of the company or in the course of transit or in high
seas or on order or delivery howsoever and where so ever in the possession of
the Company and either by way of substitution or addition. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
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5) Name and
Address and description of the person entitled to the charge. |
· Gujarat Industrial Investment Corporation Limited Address: 6th floor, Block No.11 & 12 Udyog Bhavan, Gandhinagar – 382 011 |
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6) Date and brief description of instrument
modifying the charge |
Deed of hypothecation
dated 13.11.2003 executed by the company in favour of GIIC and GSFC |
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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.
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Term loan of Rs.
25.000 millions of GIIC secured by way of hypothecation of machinery and
equitable mortgage of land and building situated lying and being at Block
No.460 of Mouje Anawal Taluka Mahuva, District Surat and also additional
building constructed by the Company with financial assistance of Shamrao
Vithal Co – operative Bank Limited is further secured by plant and
Machineries more particularly described in the Schedule of Joint Deed of
Hypothecation purchased with financial assistance granted by the Shamrao
Vithal Co-operative Bank limited to the Company for Rs. 22.000 millions The aforesaid
charge created on plant and machineries shall rank pari passu with GSFC and
the Shamrao Vithal Co-operative Bank Limited for Rs. 22.000 millions for
SVCBL. |
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Name of the
company |
M/s Gandhitex Multiplex Limited |
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Presented
By |
M/s Sundaram
Finance limited, No.21, |
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1) Date and
description of instrument creating the change |
Loan agreement Dated
04.11.2005 Cont No. AG-3923 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Finance amount
Rs. 0.675 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 |
On the security
of 1 No. 2005-Model Mitsubishi Canter E No.E 483CD5G126021 Ch No.
20HC5G007941 |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
As per annexure disclosed |
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5) Name and
Address and description of the person entitled to the charge. |
M/s Sundaram Finance Limited Address: No.21, |
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Corporation identity number or foreign company registrations number of
the company |
L21010MH1996PLC099075 |
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Name of the company |
GANDHITEX MULTIPLEX LIMITED |
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Address |
1st Floor, |
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This Form is for |
Modification of charge |
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Type of Charges |
Equitable mortgage or mortgage of property
by depositing the title deeds |
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Particular of the charge holder
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The Shamrao Vithal Co-operative Bank
Limited Address: Building No. C, Chitrapur CHS
Limited, 27th Road, TPS III, Bandra (west), Mumbai – 400 050, Email: kalambins@svcbank.com |
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Amount Secure by the charge |
Rs. 272.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
To secure due repayment of credit facilities granted by the bank IE by
The Shamrao Vithal Co-operative Bank Limited of Rs. 167.000 millions and bank
of Baroda of Rs. 10.000 millions by way of first pari passu charge And Rs .
45.000 millions of the shamrao Vithal Co-operative Bank Limited and Rs.
50.000 millions granted by the Bank of Baroda by way of second charge in
respect of working capital facilities granted to the company |
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Description of the property charge whether it is a charge on |
· Immovable properties · Furniture and fixtures · Plant and machinery |
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Particulars of the Property charged
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·
Block No. 460 Admeasuring 39,124 sq.mtrs at
mouje Anawal, Taluka – Mahuva, district – · Block No.446 admeasuring 30000 sq.mtrs and Block No. 448/A+B, admeasuring 32752 sq.mtrs total admeasuring about 62752 sq.mtrs. at mouje Anawal, Taluka – Mahuva, district Surat, in the state of Gujarat, together with the building and others structures, works, installation, erection, Godown, fixed plant and machinery fixtures and fittings, belonging to the company. |
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Brief description of the instrument modifying the charge under section
135 |
No instrument was executed however the equitable mortgage has been extended over the immovable properties |
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Particulars of the present modification |
By this modification the charge has been enhanced from Rs. 272.000 millions to Rs. 297.000 millions do to the addition term loan of Rs. 15.000 millions and Rs. 10.000 millions, granted by The Shamrao Vithal Co-operative Bank Limited |
FIXED ASSETS:
·
· Open Plot
·
· Plant and machinery
· Office Equipment
· Factory Equipment
· Computer
· Vehicles
CONTIGENT
LIABILITIES:
The accounts of certain Debtors, Creditors, and advances are subject to
confirmation / reconciliation, if any
In the opinion of the board Current assets, loan and advances have a
value on realization in the ordinary course of business at least equal to the
amount at which they are stated.
WEBSITE DETAILS:
Subject. is an ISO
9001:2000 Certified Company, involved into multiple activities
of manufacturing, exporting and importing of exclusive varieties of paper and
papers boards.
The company handles its entire operation of Exports and Imports from its
CORPORATE OFFICE situated in Mumbai, Commercial Capital of India.
This is a company promoted by Gandhi Group. The company came in existence in
1996 and in a decade, the company has become a well known name in paper
industry. The company keeps a strict tab on latest development and new products
to complement its existing lines. By keeping pace with the latest developments
in technology, they have become one of the leading suppliers of Paper and Paper
Boards in
Company has presently 2 Machines, producing exclusive range of
Unbleached Kraft Papers Boards, between 60 GSM to 450 GSM. Company's first Machine
is having Deckle of 2130 MM producing Kraft Boards ( Core Boards ) between 180
to 450 GSM which is widely used in manufacturing Paper Tubes, Cones, Cores,
Paper ( Fibre ) Drums, Edge Protectors, Match Boxes, Base for Extrusion
Laminated Products etc. The second Machine is having Deckle of 2400 MM
producing Kraft Papers between 60 GSM to 180 GSM which are widely used in
manufacturing Paper Bags, Wrappers, Base for Extrusion Laminated Products,
Corrugation Cartons etc.
The Company is also planning to install 3rd Machine to start
manufacturing Speciality Grades of Paper between 13 GSM to 60 GSM. Company is
also having plan to install Captive Power Plant.
Company has its own independent Exports Division to take care of its
international operations.
Salient Features of the Company
Professional Cum Family Managed Company: Family Directors
along with reputed technocrats of paper industry are managing the company.
Manufacturing div: Exclusive range of Unbleached Kraft Boards ( Core
Boards ) between 180 to 450 GSM which are widely used in manufacturing Paper
Tubes, Cones, Cores, Paper ( Fibre ) Drums, Edge Protectors, Match Boxes, Base
for Extrusion Laminated Products etc. (Machine Deckle of 2130 MM)
Finer Unbleached Kraft Paper between 60 GSM to 180 GSM which are widely
used in manufacturing Paper Bags, Wrappers, Base for Extrusion Laminated
Products, Corrugation Cartons etc.
Exports : They Export various qualities of Papers Boards to
Various Countries of the World. For more details, click here.
Imports: Kindly visit Imports section for more details.
1. Unbleached Bleached Greaseproof Papers
between 40 GSM to 60 GSM
2. Unbleached Bleached Glassine Papers between 30 GSM to 65 GSM
3. Coated Uncoated Cup Stocks between 160 to 250 GSM
4. Washable Label Paper (Replacement of Leather) for Jeans/Denim Garments
Philosophy
To Manufacture and supply the best quality Kraft Paper and Boards to the
world.
To Exports Imports various kinds of Papers Boards To/From India/World.
To provide their end users with non-compromising services.
To care for and safeguard their environment.
To Provide solutions appropriate to each customer.
Future
The company is giving a lot of emphasis on increasing production
capacity keeping in view increasing demand and also enter into other product
range i.e. High BF Kraft Board, Kraft Paper and Corrugation Kraft. The company
aims to Manufacture, Export and Import all types of segments in Paper and Paper
Boards, round the year.
INFRASTRUCTURE:
The best of technology and design, a highly skilled team, and a
visionary management come together at The Company. to bring you the best
in Paper and Paper Board Industry. They have a sophisticated infrastructure in
terms of human and material resources.
Human Resources.
They take immense pride at the extremely high level of commitment,
professionalism, competence and sincerity of their dedicated team. The company
takes its inspiration from its higher management which is highly experienced.
Crucial areas of day to day operations, marketing and business
development are well looked by their experienced and dynamic promoter, Mr.
Praful Gandhi who is also the Managing Director of the company. He is well
conversant with the pulse of the market and has been in the industry for many
years.
The entire International Trade is looked after by Young and Energetic
Mr. Avinash Gandhi (Director - International Trade)
Mr Mitesh Gandhi (Executive Director) is a Commerce Graduate and look
after company's financial affairs. He is known for Tight Fisted Finance
Approach. Mr Mitesh Gandhi is also involving himself into developing company's
Imports Business. He has identified many exclusive varieties of Papers Boards
which have good demand in Indian market.
The company has appointed Mr. Nizafakther Ebrahim Pathan as
Director (Technical Administration) for overall development of the company. Mr.
Pathan has experience of more than 20 years in various leadership and
administrative abilities. Under his able guidance, the company has achieved
1500 metric tons production per month. His experience is available in the
segments of engineering, technical, economic, operational and marketing
services with emphasis on various chemical and physical properties of their
Kraft Papers and Boards.
Material Resources.
They have a sophisticated technology to manufacture Kraft Papers Boards
ranging from 60 GSM to 450 GSM with Bursting Factor upto 35. They
have adequate land space and pulp mill area. They have a full fledged
laboratory arrangement, keeping a strict tab on Quality Control parameters.
Adequate land and easy availability of water, power and fuel provides a lot of
scope for capacity expansion too. The management has a lot of plans to go ahead
with capacity expansion in order to meet the increasing demands of their
products. The company has all the required machinery to produce the world class
kraft Papers and Boards.
Research and Development: With advanced research development
facility, they keep abreast of the latest development in paper industry. They
have various plans regarding capacity expansion which will be executed soon.
Environment : They attach great importance on environmental
protection and strictly abide by the Pollution control board rules and
regulations.
In a Nutshell, they have
·
World's best Manufacturing facilities.
·
Continuous upgradation of their plant.
·
They co-operates regularly with customers to
improve and innovate its products and help customers with providing the state
of the art technology.
·
The most efficient distribution process.
·
Fastest delivery schedules.
·
Strict emphasis on quality control, quantity
assurance and environmental protection.
·
Manufacture of Exclusive range of Unbleached Kraft
Papers Boards between 60 GSM to 450 GSM with BF upto 35.
·
Total capacity of 3000 Tons/Month on two machines.
EXPORTS:
The company has established a name of repute in international scenario
due to its high quality Papers and Paper Boards The company has been
consistently expanding its international coverage, thanks to repeat purchases
by overseas clients and increasing demand from various countries. They have
developed a reputation as a Well Respected Paper Boards Manufacturer and
Exporter/Importers. Their products are being exported to
Presently, they are Exporting following types of Papers and Paper
Boards:
·
One Time Carbon Base Tissue Paper In
“S” Series In 18 Gsm
·
One Time Carbonizing Finish Paper In
“O” Series 26/27 Gms
·
Natural Colour Super Fine Kraft Paper
In “Y” Series From 36 To 90 Gsm
·
Natural Colour Wet Strength Superfine
Kraft Paper In “Y” Series 60 To 90 Gsm
·
Colour Printing Paper In “Si” Series
In 45 Gsm
·
Interleaving Kraft Paper In “P”
Series From 40 To 60 Gsm
·
Wax Match Tissue In “V” Series In
40/42 Gsm
·
Prime News
Print Paper In “Dp” Series In 48 Gsm
·
Thermal Sensitive Paper In “Sk’
Series From 55 To 200 Gsm
·
Cast Coated (Mirror Coat) Papers,
Cards And Boards In “R” Series From 85 To 300 Gsm
·
Coloring Fluoroscent Papers In “R” Series Between 80 To 230 Gsm
·
Fine And Superfine Art Paper In “R”
Series From 80 To 230 Gsm
·
Virgin Manila Boards (Drawing Sheet)
In “Wc” Series Between 90 To 300 Gsm
·
Recycled Manila Boards In " R
" Series Between 100 To 350 Gsm
·
Kraft Board From 180 To 450 Gsm
·
Online Heavy Weight Coated (Hwc)
Duplex Board With Grey Back In “Nr-Series” From 200 To 500 Gsm
·
Online Heavy Weight Coated (Hwc)
Duplex Board With White Back In “Nr-Series” From 200 To 500 Gsm,
·
Colouring File Board In “R” Series
From 255 To 550 Gsm
·
Abrasive Kraft In “A” Series Between
100 To 250 Gsm
IMPORTS:
The company has also started Importing/Third Countries Exporting Various
Kinds and Varieties of Papers and Boards from its associate offices situated in
different parts of the world like
·
Bleached
and Unbleached Greaseproof Papers between 40 GSM to 60 GSM :
·
Bleached
and Unbleached Glassine Papers between 30 GSM to 65 GSM :
·
Coated and Uncoated Cup Stocks between 165 GSM to 250
GSM :
·
Washable
Label ( Lather Replacement ) Papers for Jeans / Denim Garments : -
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.33 |
|
|
1 |
Rs.79.74 |
|
Euro |
1 |
Rs.55.74 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 |
|