MIRA
INFORM REPORT
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Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
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Name : |
AGRAWAL POLY PLAST PRIVATE LIMITED |
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Registered Office : |
E-72/ 73, Site A, Industrial Area, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
04.05.1995 |
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Com. Reg. No.: |
20-17995 |
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CIN No.: [Company
Identification No.] |
U25207UP1995PTC017995 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AGRA10218F |
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PAN No.: [Permanent
Account No.] |
AABCA5943Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Co-extruded Multi Layer Poly Ethylene Film. |
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 15000 |
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Status : |
Moderate |
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Payment Behaviour : |
No comments |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track.
General financial position is weak having good amount of accumulated losses.
However, no complaints have been heard. The company can be considered for small to mediocre business dealings. |
INFORMATION PARTED BY
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Name : |
Mr. Rajesh Kumar |
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Designation : |
Accountants |
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Contact No.: |
Mobile no.91-9219697651 |
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Date : |
23.12.2008 |
LOCATIONS
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Registered Office/ Factory : |
E-72/ 73, Site A, Industrial Area, |
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Tel. No.: |
91-565-3292567/ 3200572 |
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Mobile No.: |
91-9412238929/ 9258039010/ 9219697650 |
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Fax No.: |
91-565-2463617 |
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E-Mail : |
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Website : |
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Location : |
Leased |
DIRECTORS
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Name : |
Mr. Umakant Agrawal |
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Designation : |
Director |
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Address : |
40, Adarsh Nagar, |
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Date of Birth/Age : |
12.10.1956 |
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Qualification : |
B. Sc. |
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Experience : |
12 Years |
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Date of Appointment : |
01.06.1995 |
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DIN No.: |
00221331 |
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Name : |
Mr. Manoj Agrawal |
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Designation : |
Director |
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Address : |
40, Adarsh Nagar, |
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Date of Birth/Age : |
12.03.1984 |
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Qualification : |
B.Com |
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Experience : |
5 Years |
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Date of Appointment : |
10.02.2004 |
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DIN No.: |
00221360 |
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Name : |
Ms. Hina Agrawal |
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Designation : |
Director |
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Address : |
40, Adarsh Nagar, |
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Date of Birth/Age : |
18.09.1988 |
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Date of Appointment : |
05.08.2008 |
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DIN No.: |
02306211 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2008
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Co-extruded Multi Layer Poly Ethylene Film. |
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Products : |
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Terms : |
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Selling : |
Credit 30 days |
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Purchasing : |
Cash |
PRODUCTION STATUS
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Particulars |
Actual
Production |
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Poly Ethylene Packaging Film |
350 tons per
month |
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GENERAL INFORMATION
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Suppliers : |
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Customers : |
Laminators
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No. of Employees : |
About 30 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kumar Garg Rajeev and Company Chartered Accountants |
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Address : |
Kashi Villa, 27/ 2, Jagannathpuri, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1750000 |
Equity Shares |
Rs.10/- each |
Rs.17.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1736272 |
Equity Shares |
Rs.10/- each |
Rs.17.363
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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31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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17.363 |
17.363 |
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2] Share Application Money |
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4.000 |
2.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(18.418) |
(18.685) |
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NETWORTH |
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2.945 |
0.678 |
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LOAN FUNDS |
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1] Secured Loans |
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3.983 |
4.959 |
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2] Unsecured Loans |
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14.050 |
10.887 |
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TOTAL BORROWING |
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18.033 |
15.846 |
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DEFERRED TAX LIABILITIES |
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0.754 |
0.910 |
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TOTAL |
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21.732 |
17.434 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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14.036 |
15.480 |
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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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4.764
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4.479 |
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Sundry Debtors |
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28.266
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24.966 |
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Cash & Bank Balances |
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0.798
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0.508 |
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Other Current Assets |
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0.000
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0.000 |
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Loans & Advances |
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4.336
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2.249 |
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Total
Current Assets |
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38.164 |
32.202 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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30.468
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30.248 |
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Provisions |
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0.000
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0.000 |
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Total
Current Liabilities |
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30.468 |
30.248 |
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Net Current Assets |
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7.696
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1.954 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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21.732 |
17.434 |
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PROFIT & LOSS
ACCOUNT
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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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107.249 |
91.453 |
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Other Income |
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5.708 |
4.367 |
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Total Income |
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112.957 |
95.820 |
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Profit/(Loss) Before Tax |
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0.111 |
0.404 |
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Provision for Taxation |
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(0.156) |
(0.016) |
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Profit/(Loss) After Tax |
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0.267 |
0.420 |
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Expenditures : |
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Materials Manufacturing & Other Expenses |
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106.639 |
89.840 |
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Selling & Administrative Expenses |
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2.215 |
1.906 |
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Increase/(Decrease) in Finished Goods |
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(0.285) |
0.356 |
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Interest & Financial Charges |
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2.006 |
1.561 |
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Depreciation & Amortization |
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2.271 |
1.753 |
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Total Expenditure |
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112.846 |
95.416 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
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0.24 |
0.44 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.10 |
0.44 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.21 |
0.85 |
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Return on Investment (ROI) (PBT/Networth) |
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0.04 |
0.60 |
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Debt Equity Ratio (Total Liability/Networth) |
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16.47 |
67.99 |
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Current Ratio (Current Asset/Current Liability) |
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1.25 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
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Additional Requirement of Indiamart for Trust-Seal |
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Service Tax No. : AABCA5943Q ST001 |
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Excise Registration No.: AABCA5943Q XM001 |
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VAT / TIN : 09827100816 |
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PAN / TAN : AABCA5943Q/ AGRA10218F |
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Bank Name : State
Bank of |
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Bank Address : Main
Branch, |
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Bank A/c. No.: 10908652168 |
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Account Since : 1996 |
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In case of any affiliations / memberships / certifications
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Name : ISO |
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Type : 9001 : 2000
issued by |
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Expiry Date : 2010 |
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Name of the company |
AGRAWAL POLY PLAST PRIVATE LIMITED |
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Presented By |
Mr. Manoj Kumar
Agrawal, Director |
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1) Date and description of instrument creating the change |
Agreement for
medium term loan against pledge of movable machinery dated 25.08.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.500 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 |
Equitable
Mortgage of land and building at E-72, Site A, Industrial Area, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest 1% above S.B.A.R. 2-e.11.25% |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
Modification
agreement dated 13.10.2005 |
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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. |
Total Limit
enhanced from Rs.2.500 to 6.000 millions as follows: c.c. (stock)
1.900 millions, c.c. (building) 0.600 million and TL – 3.500 millions Interest @0.75%
above S.B.A.R. 2.e. 11% |
TRADE REFRENCES:
- L.D.K. Lemiprint Private Limited,
- Khanna Polymer, Noida
FIXED ASSETS:
- Land
- Plant and Machinery
- Buildings
- Furniture
- Typewriter
- Car
- Electric Goods
- Scale
- Scooter
- Computer
- Generator
- Refrigerator
WEBSITE DETAILS:
PROFILE:
An ISO9001:2000 certified company, Subject is one of the progressing and developing company engaged in manufacturing and supplying the polythene packaging products like multi-layer polythene, polythene for edible oil, lamination films etc. These are manufactured using superior quality raw materials like Plastic granules, LLDPE granules, LDPE granules, HDPE granules. Available at highly competitive prices, these products find their application in diverse industries like lamination, food processing, poultry, bakery, textile, writing materials and cosmetics.
Incepted in 1995 and located at
Quality is the most important factor for any business and its expansion. They
are marking growth in the market with each and every day as the product range
is known for its quality. For ensuring the quality of the product, they test
each product in the quality testing laboratory.
With the passage of time, they have developed a large clientèle domestically. Now, they are planning to expand the business globally by catering clients in different parts of the world. With the standard size, they also offer customized products as per the requirement of the client.
Quality
Quality is the most important parameter for judging any product and theirs is a reputed name in the packaging industry for the same. This is because they can never think of compromising with the quality of the product. They procure premium quality raw materials like granules from known suppliers and test their quality.
After the granules are tested stringently, they are ready for the production purpose. These products are also tested at various stages of production and after the end product is ready. These tests are conducted under the guidance of the quality control experts.
Some of the attributes for which both procured granules and finished products are tested carefully are as follows:
- Linear Expansion
- Tensile Strength
- Max. Operating Temperature
- Strain at Yield
- Flammability
- Volume Resistivity
- Elongation at break
- Surface Hardness
Infrastructure
The corporate and manufacturing unit is at
- Three layer blown film plant with capacity of 90 M.T.
- Modified plant with capacity of 130 M. T. IN 2001
- Latest line with capacity of 150 M. T.
With these machineries, the production capacity (per month) is 350 M. tons and the annual turnover is Rs.18.000 millions p.a.
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.48.49 |
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1 |
Rs.71.89 |
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Euro |
1 |
Rs.67.86 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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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31 |
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. |
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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