MIRA
INFORM REPORT
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Report Date : |
10.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
TEMPLE PACKAGING PRIVATE LIMITED |
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Registered Office : |
E-111, Ansa Industrial Estate, Saki
Vihar Road, Sakinaka, Andheri (East), Mumbai – 400 072, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.06.1994 |
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Com. Reg. No.: |
11-79298 |
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CIN No.: [Company
Identification No.] |
U28129MH1994PTC079298 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT10863G |
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PAN No.: [Permanent
Account No.] |
AAACT9039P |
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Legal Form : |
Private Limited Liability
Company. |
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Line of Business : |
Manufacturers, processors,
laminators, designers, buyers, sellers, exporters, importers or otherwise
dealers in all kinds of packing, manufacturers of card, board, corrugated,
foil board, duplex board, plastic, polythene, sunny bags, container, bottles,
lubricating oil, industrial oil and other any types of materials and to
manufacture, process, buy, sell, import, export or otherwise deal in all or
any or such products, the raw materials stores, stores packing materials
products, etc. |
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 290000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established family owned Company engaged in manufacturing and marketing of Printed.
Cartons/labels/literatures/brochures etc. one of the directors has got the
relevant qualification to run its business efficiently Directors
are well experienced in their line of business. The Company’s business is
progressing satisfactorily. Trade relations are reported as fair. 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 : |
E-111, Ansa Industrial Estate,
Saki Vihar Road, Sakinaka, Andheri (East), Mumbai – 400 072, Maharashtra,
India |
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Tel. No.: |
91-22-28476221/28523282/28470490/28573461/28573451/28470282 |
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Fax No.: |
91-22-56924952/91-22-28522501 |
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E-Mail : |
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Area : |
3000 sq. ft |
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Location : |
Rented and owned |
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Press : |
C-14, C-16, C-114, D-103 and C-118, Ansa Industrial Estate, Saki Vihar Road, Mumbai – 400 072, Maharashtra |
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Factory : |
C-16/14, Ansa Industrial Estate, Saki Vihar Road, Sakinaka, Mumbai – 400072, Maharashtra, India. |
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Tel. No.: |
91-22-28473599 |
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Area : |
25000 sq.fts |
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Location : |
Rented and owned |
DIRECTORS
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Name : |
Mr. Pranav Vinod Joshi |
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Designation : |
Director |
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Address : |
26, Yeshomangal, 64/B, Lallubhai
S. Road, Andheri (West), Mumbai – 400058, Maharashtra |
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Date of Birth/Age : |
22.07.1958 |
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Qualification : |
B.Com |
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Date of Appointment : |
29.06.1994 |
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Name : |
Mr. Vimal Vinod Joshi |
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Designation : |
Director |
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Address : |
26, Yeshomangal,64/B,
Lallubhai.S.Road, Andheri (West), Mumbai – 400 058, Maharashtra |
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Date of Birth/Age : |
27.01.1961 |
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Qualification : |
B.Com |
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Date of Appointment : |
29.06.1994 |
KEY EXECUTIVES
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Name : |
Sharmila Samar |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Pranav V. Joshi |
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38175 |
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Mrs. Vimal V. Joshi |
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38175 |
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Total |
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76350 |
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Equity Share
Break-up |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, processors, laminators,
designers, buyers, sellers, exporters, importers or otherwise dealers in all
kinds of packing, manufacturers of card, board, corrugated, foil board,
duplex board, plastic, polythene, sunny bags, container, bottles, lubricating
oil, industrial oil and other any types of materials and to manufacture,
process, buy, sell, import, export or otherwise deal in all or any or such
products, the raw materials stores, stores packing materials products, etc. |
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Terms : |
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Selling : |
Credit (120 days) and Bills Discounting Terms |
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Purchasing : |
L/C, Cash and Credit (90 days) |
PRODUCTION STATUS
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Printed Cartons |
Nos. |
0.600 Million |
0.300 Million |
GENERAL
INFORMATION
|
Suppliers : |
·
Balkrishna Industries Limited ·
Jain Sales Limited ·
Coates of India Limited ·
Vishal Print Trader (Private) Limited ·
Rainbow Inks and Varnish Manufacturing Company Limited ·
Garware Polyster Limited |
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Customers : |
·
Aurobindo Pharma Limited ·
Dr. Reddy’s Laboratories Limited ·
Natco Corporation Limited ·
Neon Laboratories Limited ·
Ahlcon Parenterals Private Limited |
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No. of Employees : |
92 |
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Bankers : |
Ř
Saraswat
Co-operative Bank Limited Juhu Beach, Madhusagar,
N. S. Road No. 13, Near Juhu Church, Mumbai 400049, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ranawat Soni and Company Chartered Accountants |
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Address : |
107-B, Sagar Shopping Centre, 76, J. P. Road, Andheri {West], Mumbai
400058, Maharashtra, India |
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Tel. No.: |
91-22-2677367 |
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Fax No.: |
91-22-26775507 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
200000 |
Preference Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
76350 |
Equity Shares |
Rs. 100/- each |
Rs. 7.635
Millions |
|
100000 |
Preference Shares |
Rs. 100/- each |
Rs. 10.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
17.635 |
7.635 |
7.635 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
55.975 |
48.882 |
35.241 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
73.610 |
56.517 |
42.876 |
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LOAN FUNDS |
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1] Secured Loans |
263.726 |
220.828 |
57.003 |
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2] Unsecured Loans |
39.465 |
32.306 |
23.928 |
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TOTAL BORROWING |
303.191 |
253.134 |
80.931 |
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DEFERRED TAX LIABILITIES |
14.620 |
11.615 |
6.531 |
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TOTAL |
391.421 |
321.266 |
130.338 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
315.657 |
265.119 |
83.968 |
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Capital work-in-progress |
0.222 |
5.372 |
4.008 |
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Capital
Advance |
0.000
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0.000 |
2.384 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
28.134
|
22.129 |
16.593 |
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Sundry Debtors |
60.045
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75.007 |
39.671 |
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Cash & Bank Balances |
31.397 |
15.996 |
12.054 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
10.955
|
12.401 |
15.666 |
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Total
Current Assets |
130.531
|
125.533 |
83.984 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
56.797
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71.412 |
37.328 |
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Provisions |
1.800
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4.500 |
7.300
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Total
Current Liabilities |
58.597
|
75.912 |
44.628 |
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Net Current Assets |
71.934
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49.621 |
39.356 |
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MISCELLANEOUS EXPENSES |
3.608 |
1.154 |
0.002 |
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Deferred Capital Expenditure –
Rented Galas
|
0.000 |
0.000 |
0.619 |
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TOTAL |
391.421 |
321.266 |
130.338 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2005 |
Sales Turnover [including other
income]
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|
212.304 |
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Profit/(Loss) Before Tax
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19.360 |
Provision for Taxation
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5.316 |
Profit/(Loss) After Tax
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14.044 |
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Export Value
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-- |
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Import Value
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37.170 |
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Total Expenditure
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192.944 |
KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
NA
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NA |
5.68
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Net Profit Margin
(PBT/Sales) |
(%) |
NA
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NA |
7.51
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Return on Total Assets
(PBT/Total Assets} |
(%) |
NA
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NA |
7.51
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Return on Investment (ROI)
(PBT/Networth) |
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NA
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NA |
0.40
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Debt Equity Ratio
(Total Liability/Networth) |
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4.91
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5.82 |
2.70
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Current Ratio
(Current Asset/Current Liability) |
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2.22
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1.65 |
1.76
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LOCAL AGENCY
FURTHER INFORMATION
The company’s fixed assets of imported value includes land, factory & building, plant and machinery, patents- Vijuk, forklift, two wheelers, four wheelers, three wheelers, six wheelers, furniture & fixtures, computers, motor cars, factory equipment, office equipment and six wheelers.
Its’ products range includes :-
·
Printing and Packaging
Materials
·
Cartons
·
Labels
·
Publicity Materials
Form 8
Bankers Charges
Report as per Registry
|
This Form is for |
Creation of Charge |
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Charge
identification number of the charge to be modified |
NA |
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Corporate
identity number of the company |
U28129MH1994PTC079298 |
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Name of the
company |
TEMPLE PACKAGING
PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
26, Yeshomangal
64/ Blallubhai Road, Andheri [West], Mumbai 400058, Maharashtra, India |
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Type of charge |
Ř
Book Debts Ř
Movable
Property Ř
Floating
Charge |
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Particular of charge
holder |
The Saraswat
Co-operative Bank Limited Juhu Beach,
Mumbai 400049, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation of Movable Property |
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Date of
instrument Creating the charge |
11.12.2007 |
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Amount secured by
the charge |
Rs. 4.350
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
Interest 13.5% p.a. or at such
rate as may be determined by the Bank from time to time [b] Terms of
Repayment On demand or by
60 months if the same is not demanded earlier [c] Margin 25% in Banks
Favour [d] Extent and
operation of the charge This is term loan
facility |
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Short particulars
of the property charged |
Hypothecation of
all the machinery tangible movable property belonging to the borrowers and
lying and being at the borrowers place of business at Khasra No. 1319/1,
1319/2 Village Bhatoli Kalan, P. O. Badd survey no. 171/2 and 171/7 behind
Olive health care Hatiyawad, village Dabhel Nani Daman, or wherever else the
same may be. Hypothecation of book
dents, monies, receivable, outstanding, claims and bills |
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Date of latest
modification prior to the present modification |
NA |
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Particulars of
the present modification |
NA |
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Name of the company |
TEMPLE PACKAGING
PRIVATE LIMITED |
|
Presented By |
The Saraswat
Co-operative Bank Limited Juhu Beach,
Mumbai 400049, Maharashtra, India |
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1) Date and description of instrument creating the change |
Agreement of hypothecation of movable property for L/c on D/A basis Agreement of hypothecation of Book Debts Both the agreements are dated 30.05.2003 and constitute single charge |
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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 |
Hypothecation of
all the stocks tangible movable property including the stocks for the time
being whether new or manufacture or in process of manufacturing and every
tangible movable goods/property/machinery/plant both present and future as
and when imported or procured by the Company or otherwise belonging to the
Company’s and lying and being at the Company’s place of business. Hypothecation by
way of first charge on all the book debts outstanding, monies receivable,
claims and bills |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Type of facility
: This is L/C limit |
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5) Name and Address and description of the person entitled to the
charge. |
The Saraswat
Co-operative Bank Limited Juhu Beach,
Mumbai 400049, Maharashtra, India |
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6) Date and brief description
of instrument modifying the charge |
NA |
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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. |
NA |
|
Name of the company |
TEMPLE PACKAGING
PRIVATE LIMITED |
|
Presented By |
The Saraswat
Co-operative Bank Limited Juhu Beach,
Mumbai 400049, Maharashtra, India |
|
1) Date and description of instrument creating the change |
Agreement of hypothecation of movable property for L/c on D/A basis
dated 18.02.2006 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 7.700
Millions |
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3) Short particular of the property charged. If the property acquired
is subject to charge, date of the acquired of the property should be given |
Hypothecation of
all the goods imported under L/C tangible movable property including the
stocks for the time being whether new or manufactured or in process of
manufacturing and every tangible movable goods/property/machinery/plant both
present and future as and when imported or procured by the Company or
otherwise belonging to the Company’s and lying and being at the Company’s
place of business. Hypothecation by
way of first charge on all the book debts outstanding, monies receivable,
claims and bills |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
This is L/C limit
|
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5) Name and Address and description of the person entitled to the
charge. |
The Saraswat
Co-operative Bank Limited Juhu Beach,
Madhusagar, N. S. Road No. 13, Near Juhu Church, Mumbai 400049, Maharashtra,
India |
|
6) Date and brief description
of instrument modifying the charge |
NA |
|
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. |
NA |
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 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. 39.29 |
|
UK Pound |
1 |
Rs. 77.52 |
|
Euro |
1 |
Rs. 57.85 |
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 |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational size
(10%)
RATING
EXPLANATIONS
|
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 |
|