MIRA
INFORM REPORT
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Report Date : |
22.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUPERPACK PACKAGING MACHINES PRIVATE LIMITED |
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Registered Office : |
63 Gruhalakshmi Colony, Kakaguda, Secunderabad – 500 011, Andhra
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
21.09.1999 |
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Com. Reg. No.: |
01-032539 |
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CIN No.: [Company
Identification No.] |
U21014ap1999ptc032539 |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer and Exporter of Filling Machines |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USd 3000 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track. The company
has not filed its latest financials with the Government Departments. The
management parted general details but failed to part with latest financials.
No complaints have been heard. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
INFORMATION PARTED
BY (GENERAL DETAILS)
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Name : |
Mr. Umesh H Sawant |
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Designation : |
Director |
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Contact No.: |
91-9849237127 |
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Date : |
22.12.2008 |
LOCATIONS
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Registered Office : |
63 Gruhalakshmi Colony, Kakaguda, Secunderabad – 500 011, Andhra
Pradesh, India |
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Tel. No.: |
91-40-27263005 /
27261006 |
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Mobile No.: |
91-9391027597 /
9849237127 |
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Fax No.: |
91-40-27261006 |
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E-Mail : |
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Factory : |
208/3 Phase – II IDA Cherlapally, Hyderabad – 500 951, Andhra Pradesh,
India |
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Tel. No.: |
91-40-27263005/27261006 |
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Fax No.: |
91-40-27261006 |
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E-Mail : |
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Area: |
2000 Sq. yards |
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Location: |
Owned |
DIRECTORS
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Name : |
Mr. Vavilala Sriranga Srinivas |
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Designation : |
Director |
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Address : |
Flat No. 2, Sri Raghavendra Nilatyam Apartment, Street No. 8,
Hubsiguda Secunderabad – 500 007,
Andhra Pradesh, India |
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Date of Birth/Age : |
02.02.1965 |
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Date of Appointment : |
15.02.2007 |
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E-Mail: |
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Directorship in other Companies: |
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CIN of the Company |
U21014AP1999PLC032770 |
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Name of the Company : |
Vega Conveyors and Automation Limited |
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Designation : |
Director |
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Name : |
Mr. Garimella Srinivas |
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Designation : |
Director |
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Address : |
G -102, Sterling Court Apartment, Sappers Line, Balamrai, Secunderabad
– 500 003, Andhra Pradesh, India |
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Date of Birth/Age : |
23.12.1966 |
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Qualification : |
BE |
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Date of Appointment : |
15.02.2007 |
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E-Mail: |
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Directorship in other Companies: |
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CIN of the Company |
U21014AP1999PLC032770 |
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Name of the Company : |
Vega Conveyors and Automation Limited |
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Designation : |
Director |
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Name : |
Mr. Umesh H Sawant |
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Designation : |
Director |
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Address : |
Plot No. 54 Mani Enclave J J Nagar post Ya Pral, Secunderabad – 500
082, Andhra Pradesh, India |
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Date of Birth/Age : |
06.04.1962 |
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Qualification : |
BE |
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Date of Appointment : |
21.09.1999 |
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Name : |
Mr. V S Mallick |
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Designation : |
Director |
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Address : |
Plot No. 215 Shri Partha Sarathi Nagar Shri Ramlhandamission Thumkunta
Ragareddy-500 079, Andhra Pradesh, India |
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Date of Birth/Age : |
01.05.1965 |
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Date of Appointment : |
21.09.1999 |
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Name : |
Mr. Sai Srinivas |
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Designation : |
Director |
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Qualification : |
BE |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Shruthi U Sawant |
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1350 |
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Mr. Umesh H Sawant |
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2575 |
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Mr. V S Mallick |
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2575 |
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Mr. V Madhumati |
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1350 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Filling Machines |
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Products : |
·
Liquid Filling Machine (Viscous) ·
Powder Filling Machine (Auto Line) ·
Piston Filling Machine ·
Auto Line ·
Powder Autoline ·
Granule Filling Machine ·
Granule Auto Line ·
Dump-yard |
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Exports : |
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Products : |
Filling Machines |
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Countries : |
Middle East, African Countries, Singapore |
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Terms : |
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Selling : |
Advance Payment |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
Corporate ·
Mothers Recipe ·
Heinz ·
Coca Cola ·
Café Coffee Day ·
GSK ·
ITC ·
MTR ·
Godrej Saralee ·
Pidilite ·
Priya Foods ·
McRennett ·
ADF ·
Ajmal Perfumes ·
Shan Foods |
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No. of Employees : |
56 (10 in office, 40 in
Factory, 6 in Branches) |
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Bankers : |
Bank of India, Vasavi Nagar Branch, Secunderabad – 500 003, Andhra
Pradesh, India |
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Facilities : |
Cash Credit – Rs. 6.000 Millions
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Banking
Relations : |
--- |
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Auditors : |
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Name 1: |
Murthi and Bhanunarayan Chartered Accountants |
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Address : |
# 29 IV B L Bharani Complex, Minister Road, Secunderabad – 500 003,
India |
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Tel. No.: |
91-40-55327915 |
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Fax No.: |
91-40-55637415 |
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Name 2 : |
V S M B and Company Chartered Accountants |
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Address : |
Begam Peth, Hyderabad, Andhra Pradesh, India |
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Associates/Subsidiaries : |
NIL |
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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 million |
Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
200 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.002 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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30.000 |
Expected Sales (2008-09): Rs.50.000 millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.785 |
0.785 |
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2] Share Application Money |
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0.190 |
0.190 |
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3] Reserves & Surplus |
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0.341 |
0.000 |
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4] (Accumulated Losses) |
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[0.716] |
[0.359] |
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NETWORTH |
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0.600 |
0.616 |
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LOAN FUNDS |
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1] Secured Loans |
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0.531 |
0.074 |
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2] Unsecured Loans |
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1.291 |
0.725 |
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TOTAL BORROWING |
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1.822 |
0.799 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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2.422 |
1.415 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.477 |
2.021 |
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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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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.000 |
0.000 |
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Other Current Assets |
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5.415 |
4.947 |
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Loans & Advances |
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0.165 |
0.045 |
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Total
Current Assets |
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5.580 |
4.992 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.646 |
5.611 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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5.646 |
5.611 |
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Net Current Assets |
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[0.066] |
[0.619] |
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MISCELLANEOUS EXPENSES |
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0.011 |
0.013 |
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TOTAL |
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2.422 |
1.415 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2004 |
31.03.2003 |
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Sales Turnover |
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10.352 |
10.376 |
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Other Income |
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0.021 |
0.005 |
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Total Income |
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10.373 |
10.381 |
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Profit/(Loss) Before Tax |
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[0.356] |
0.187 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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[0.356] |
0.187 |
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Expenditures : |
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Manufacturing Expenses |
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1.205 |
1.247 |
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Administrative Expenses |
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1.886 |
2.238 |
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Raw Material Consumed |
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6.095 |
5.015 |
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Increase/(Decrease) in Finished Goods |
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[0.589] |
[0.351] |
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Salaries, Wages, Bonus, etc. |
|
0.699 |
0.668 |
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Managerial Remuneration |
|
0.611 |
0.456 |
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Interest |
|
0.072 |
0.044 |
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Depreciation & Amortization |
|
0.398 |
0.227 |
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Other Expenditure |
|
0.352 |
0.650 |
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Total Expenditure |
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10.729 |
10.194 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2004 |
31.03.2003 |
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PAT / Total Income |
(%) |
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[3.43] |
1.80 |
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Net Profit Margin (PBT/Sales) |
(%) |
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[3.44] |
1.80 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[2.61] |
2.67 |
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Return on Investment (ROI) (PBT/Networth) |
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[0.59] |
0.30 |
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Debt Equity Ratio (Total Liability/Networth) |
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12.45 |
10.41 |
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Current Ratio (Current Asset/Current Liability) |
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|
0.99 |
0.89 |
LOCAL AGENCY
FURTHER INFORMATION
|
Additional Requirement
of Indiamart for Trust-Seal |
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Excise Registration No.: AAECS8899QMX001 |
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VAT / TIN : 28510117515 |
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IEC Code :0900007877 |
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PAN : AAECS8899Q |
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Bank Name : Bank of India |
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Bank Address : Vasavi Nagar Branch, Hyderabad |
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Bank A/c. No.: 861432100330034 |
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Account Since : 9 years |
TRADE references:-
· ITC Limited, Bangalore, Karnataka
· Heinz Limited, Mumbai, Maharashtra
Fixed assets:-
· Land
· Factory Building
· Plant And Machinery
· Computers
· Office Equipments
· Furniture And Fixtures
· Vehicles
FORM 8:-
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Name of the company |
SUPERPACK
PACKAGING MACHINES PRIVATE LIMITED |
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Presented By |
Mr. Umesh H
Sawant, Director |
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1) Date and description of instrument creating the change |
Sanction letter hypothecation
agreement both dated 29.06.2000 Registered vide
Sl. No. Dated 01.07.2000. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Rs.
0.200 million |
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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 of
all stocks of Raw Materials, Stock in Process, Filling Machines, etc |
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4) Gist of the terms and conditions and extent and operation of the charge. |
25% Margin
Interest @ 4% over and above PLR subject to a minimum of 15.50% p.a + 2% penal interest for default in
installment payment / submission of stock statement or if account is
overdrawn |
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5) Name and Address and description of the person entitled to the charge. |
Bank of India,
Vasavi Nagar Branch, Secunderabad |
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6) Date and brief description of instrument modifying the charge |
Sanction letter
hypothecation on agreement both dated 03.01.2005 for Rs. 0.500 million |
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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. |
25% Margin
Interest 0% over and above PLR subject to a minimum of 10.75% p.a + penal
interest for default in installment
payment / submission of stock statement
and if account is overdrawn. |
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Corporate
identity number of the company |
U21014ap1999ptc032539 |
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Name of the
company |
SUPERPACK
PACKAGING MACHINES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
63 Gruhalakshmi Colony, Kakaguda, Secunderabad – 500 011, Andhra
Pradesh, India |
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This form is for |
Modification of
charge |
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Type of charge |
· Immovable property · Movable property (not being pledge) |
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Particular of
charge holder |
Bank of India,
Vasavi Nagar Branch, Secunderabad – 500 003, Andhra Pradesh, India E-Mail: boi_vasavisec15@yahoo.com |
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Nature of
instrument creating charge |
· Hypothecation cum loan agreement (plant and Machinery, Stocks and Book Debts) · Sanction letter for Credit limits. |
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Date of
instrument Creating the charge |
02.05.2007 |
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Amount secured by
the charge |
Rs. 6.500
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest: 0.25% below BPLR
minimum 13.00% p.a as applicable to “AAA” rated SME accounts Terms of Repayment: Repayable on Demand
Margin: Margin 25% |
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Short particulars
of the property charged (Including location of the property) |
Hypothecation of
stocks and hypothecation of book debts and equitable mortgage of industrial
property situated at Plot No. 208/3 Survey Nos. 256 and 257 Partnership
concern with an Unlimited Liability of the Partners phase – II, IDA, Cherlapally Ghatkesat Mandal Kapra
Municipality R R District,
Admeasuring 1972.93 Square Yards with building and Factory shed thereon belonging to M/S Superpack packing
Machines Private Limited |
Website details:-
Concern
Profile
The company with its manufacturing facility in Hyderabad, India, is
a manufacturer of high quality filling machines for varied applications.
Subject manufactures
Semi automatic and Fully automatic filling lines for Powder, Liquid, Viscous
and Granular products filling. The range also includes Single and Multi head
variants.
Future Plan
Business:
They have very
ambitious plans of growing at the rate of 50 to 60% year on year, in terms of
turnover, by adding new products, keeping in view the International and
domestic market and the ever increasing demands of the present day user and
providing complete line integration right from filling upto final packaging in cartons, so that the customer has
single point solutions for their packaging
needs.
Productivity Enhancement: They already have the best manufacturing
facilities, but in order to achieve their growth plans, they would be going in
for state of the art, capacity enhancement by revamping their machinery with
the latest technological developments, to keep abreast of quality and
production volumes.
Technological Upgradation: They intend to add on special features to
their machines, in order to provide
multifarious choices for their customers, in view of the growing demands, in
line with GMP, HACCP and CE standards, so that they would be at par with the machines available in the international market, the
primary objective being delivering a quality product to their customers at the
right time.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.08 |
|
UK Pound |
1 |
Rs.71.17 |
|
Euro |
1 |
Rs.66.98 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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. |
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 |
|