MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
STANDARD INDUSTRIAL PACKAGING |
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Registered Office : |
# 1, Tilak Street Extension, T Nagar, Chennai 600 017, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1991 (STANDARD
INDUSTRIAL PACKAGING) 1967 (Group) |
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IEC No.: |
0491004818 |
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TIN No.: |
33051521800 |
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PAN No.: [Permanent
Account No.] |
AADPP8174F |
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Legal Form : |
Sole Proprietory
Concern |
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Line of Business : |
Trader, Dealer
and Importer of Plastic Granules both Virgin and Reprocessed Grades. Specific
Materials include Polypropylene (PP), High Density Polyethylene (HDPE) and
Low Density Polyethylene (LDPE). |
RATING &
COMMENTS
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MIRAs 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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an
established concern having satisfactory track. Trade relations are fair.
Payments are correct and as per commitments. The concern can
be considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. B L Pincha |
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Designation : |
Proprietor |
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Contact No.: |
91-9840036583 |
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Date : |
25.04.2008 |
LOCATIONS
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Registered Office : |
# 1, Tilak Street
Extension, T Nagar, Chennai 600 017, Tamilnadu, India |
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Tel. No.: |
91-44-28340748/
28343780/ 28340983 |
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Mobile No.: |
91-9840036583 |
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Fax No.: |
91-44-28340670 |
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E-Mail : |
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Area : |
4200 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. B L Pincha |
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Designation : |
Proprietor |
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Address : |
1/ 6, Tilak
Street Extension, T Nagar, Chennai 600 017, Tamilnadu, India |
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Date of Birth/Age : |
21.12.1968 |
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Qualification : |
B.E. (Mech.),
PGDBA |
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Experience : |
17 Years |
BUSINESS DETAILS
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Line of Business : |
Trader, Dealer
and Importer of Plastic Granules both Virgin and Reprocessed Grades. Specific
Materials include Polypropylene (PP), High Density Polyethylene (HDPE) and Low
Density Polyethylene (LDPE). |
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Products : |
Plastic Granules |
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Imports : |
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Products : |
Recycled Plastic Granules |
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Countries : |
Sultanate of
Oman, , Singapore, Malaysia, Far East and Middle East |
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Terms : |
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Selling : |
On Cash basis |
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Purchasing : |
On Cash or CAD through bank basis |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
About 5 |
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Bankers : |
Vijaya Bank, # 17
G N Road, Chennai 600 017, Tamilnadu, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ashwini and Associates Chartered Accountants |
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Address : |
B-9 and 10, Sankeswara Towers, # 22 Ramanan Road, Chennai 600 079,
Tamilnadu, India |
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Tel. No.: |
91-44-25294289 |
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Mobile No.: |
91-9840153766 |
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E-Mail : |
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Sister Concerns : |
Standard Plastic Works (Established
1967) # 1, Tilak Street
Extension, T Nagar, Chennai 600 017, Tamilnadu, India Line of Business:
Manufacturer of Plastic Packaging and Recyling of Post-Industrial Scrap Standard Products (India) (Established
1994) # 38, Bhagirathi
Ammal Street, T Nagar, Chennai 600 017, Tamilnadu, India Line of Business:
Trading in Plastic raw materials, Distributors for Seld-f-Adhesive Tapes |
CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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10.000 |
7.500 |
LOCAL AGENCY
FURTHER INFORMATION
Profile
Subject belongs to
a group of firms engaged in the business of plastic since 1967. The group
activities encompass manufacturing and trading specially, manufacturing
includes custom moulding and extrusion. The group also traders in plastic raw
material sourced locally and imported. The details given below pertain to SIP
alone, unless otherwise stated
They at the
Standard group have been engaged in the business of plastic packing for over 39
years now. They manufacturer and market a wide range scale. Today that tiny
start up has evolved into a full fledged business group its capabilities
further augmented by the formation of Standard Industrial Packing (1991) and
Standard Products. They are also custom moulders for the plastic industry.
Performing diverse manufacturing process like Blow Moulding, Injection
Moulding, Recycling and Extrusion
They source their
plastic raw materials for trading and manufacturer locally as well as from
overseas. They are regular importers of plastic granules for some time now.
They presently
serve the states of Tamilnadu, Pondicherry, Andhra Pradesh, West Bengal and
Karnataka.
Trade References:
- Taghleef
Industries
- Advance
Material Resources
- Bamboo Prima
Sdn Bhd, Plasman
- Plastic
Industries (M) Sdn Bhd
- Darshana
Traditional Products, # 46 Bazullah Road, T Nagar, Chennai 600 017,
Tamilnadu, India
Contact Person: Mr. Pawan Kumar
Tel.: 91-44-28144790/ 42124009
- Espiem
Plastic Limited, Plot # 225 Mettukuppam, Okkiam-Thoraipakkam, Chennai
600 096, Tamilnadu, India
Contact Person: Mr. Vinod Ghorpade / Mr.
Ravi Iyangar
Tel.: 91-44-24963624/5/7
- Idlers
(India), # 60 Kundrathur Road, Porur, Chennai 600 116, Tamilnadu, India
Contact Person: Mr. Vasanth
Mobile No.: 91-44-9840047133
- Precision Plastics Packaging, # 98 NSC Bose Nagar, Porur, Chennai
600 116, Tamilnadu, India
Contact Person:
Mr. Narasimhan
Tel.: 91-44-24769496
Mobile No.:
91-9840038132
- Prime Petrochemicals Private Limited, # 21/ 11 Vijayalakshmi Street,
Mahalingapurem, Chennai 600 034, Tamilnadu, India
Contact Person:
Mr. Ashok Daga
Tel.:
91-44-22501427/ 65/ 22500522
- Raghavendra Enterprises, # 15 Ekangipuram IV Street, Ayanavaram,
Chennai 600 023, Tamilnadu, India
Contact Person:
Mr. Hegde
Tel.:
91-44-26445593/ 55876341
Mobile No.:
91-9840377295
- Seshasayee Paper and Board Limited, Pallipalayam, Erode 638 007,
Tamilnadu, India
Contact Person:
Mr. K. Srinivasan
Tel.:
91-4288-240228/1
Mobile No.:
91-9843120021
- Shankar Mercantile Agency Private Limited, Agarwal House, # 9 and 10
Vepery Church Road, Chennai 600 007, Tamilnadu, India
Contact Person:
Mr. Aditya Agarwal / Mr. Vishal Agarwal
Tel.:
91-44-26612913/ 17
Mobile No.:
91-9381003285
- Thagadur Polymers Private Limited, # 24/1, 2nd Street,
RKV Nagar, Erode 638 003, Tamilnadu, India
Contact Person:
Mr. Elangovan
Tel.:
91-424-2210477
Mobile No.:
91-9443261312
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Intl
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 companys 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.40.22 |
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UK Pound |
1 |
Rs.79.94 |
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Euro |
1 |
Rs.62.83 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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 SCs 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. |
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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