MIRA
INFORM REPORT
|
Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SUPER PLASTIC COATS PRIVATE LIMITED |
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Registered Office : |
1, Central Market, West Avenue Road, West Punjabi Bagh, New Delhi –
110 026, Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.12.1999 |
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Com. Reg. No.: |
55-102776 |
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CIN No.: [Company
Identification No.] |
U25201DL1999PTC102776 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS14155B |
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PAN No.: [Permanent
Account No.] |
AAECS2311M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Corona / Antistatic / Coating
of Polyester / BOPP Film PPR Plastic Pipes and Fittings |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 610000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Financial
position is good. Payments are usually correct and as per commitments. The company can be considered good for any normal business dealings at
usual trade terms and conditions. The company can be reported as a promising business partner in a
medium to long run. |
INFORMATION PARTED
BY
|
Name : |
Mr. Arun Sharma |
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Designation : |
Import Department Manager |
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Contact No.: |
91-9711001506 |
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Date : |
28.06.2008 |
LOCATIONS
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Registered Office / Factory : |
1, Central Market, West Avenue Road, West Punjabi Bagh, New Delhi –
110 026, Delhi, India |
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Tel. No.: |
91-11-25226771 / 25226772 / 25166771 |
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Mobile No.: |
91-9711001506 |
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Fax No.: |
91-11-25222593 / 25226772 / 25932593 |
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E-Mail : |
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Warehouse : |
Located at All over India |
DIRECTORS
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Name : |
Mrs. Radha Kishan Gupta |
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Designation : |
Director |
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Address : |
1/74, Jai dev Park, New Delhi – 110 026, India |
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Date of Birth/Age : |
07.10.1939 |
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Date of Appointment : |
10.12.1999 |
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Name : |
Mr. Praveen Kumar Bansal |
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Designation : |
Director |
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Address : |
2/60, Punjabi Bagh, New Delhi – 110 026, India |
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Date of Birth/Age : |
15.08.1966 |
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Date of Appointment : |
15.01.2002 |
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Name : |
Mrs. Seema Bansal |
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Designation : |
Director |
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Address : |
2/60, Punjabi Bagh, New Delhi – 110 026, India |
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Date of Birth/Age : |
18.01.1969 |
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Date of Appointment : |
25.03.2003 |
KEY EXECUTIVES
|
Name : |
Mr. Ambarish Chatterjee |
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Designation : |
Company Secretary |
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Address : |
A-395, Sector 19, Noida 201 301 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 28.09.2005)
|
Names of Shareholders |
No. of Shares |
|
Radha Kishan Gupta |
42800 |
|
Naresh Bansal |
2600 |
|
Standard Corporate Services Private Limited |
20000 |
|
Varindavan Farms Private Limited |
20000 |
|
Punjab Loha Udyod |
100 |
|
Praveen Kumar Bansal |
55000 |
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Seema Devi Bansal |
70000 |
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Northern Strips Limited |
6600 |
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K. G. Finvest and Trade Private Limited |
40000 |
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Total |
257100 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2006)
|
Category |
Percentage |
|
Bodies Corporate |
51.00 |
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Directors or relatives of directors |
49.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Corona / Antistatic / Coating of
Polyester / BOPP Film PPR Plastic Pipes and Fittings |
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Exports : |
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Countries : |
Asian Countries |
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Imports : |
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Products : |
Resin |
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Countries : |
Korea |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL
INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
40 |
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Bankers : |
West Patel
Nagar, New Delhi – 110 008, Delhi, India HDFC Bank Punjabi Bagh Branch, Delhi |
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Facilities : |
OD, L/C, CC |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ravi K Aggarwal and Associates Chartered Accountants |
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Address : |
Flat No. B-5, Vikas Appartments, 34/1, East Punjabi Bagh, New Delhi –
110 026, Delhi, India |
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Associates/Subsidiaries : |
·
Swati Still Pipe Industry Address
: Haryana, Uttar Pradesh Line
of Business : Manufacturer of G. I. Pipes ·
Alite Pipes India Limited Address
:
Haryana Line
of Business : Manufacturer of Steel Pipes |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
257100 |
Equity Shares |
Rs.10/- each |
Rs.2.571
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 |
2.571 |
2.571 |
2.571 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
119.543 |
101.413 |
91.766 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
122.114 |
103.984 |
94.337 |
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LOAN FUNDS |
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1] Secured Loans |
102.413 |
39.589 |
5.791 |
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2] Unsecured Loans |
14.010 |
0.000 |
0.000 |
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TOTAL BORROWING |
116.423 |
39.589 |
5.791 |
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DEFERRED TAX LIABILITIES |
0.785 |
0.618 |
0.562 |
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TOTAL |
239.322 |
144.191 |
100.690 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
47.713 |
34.903 |
20.975 |
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Capital work-in-progress |
2.000 |
0.474 |
9.240 |
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INVESTMENT |
15.744 |
13.610 |
0.200 |
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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 |
22.382
|
21.191 |
13.790 |
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Sundry Debtors |
123.847
|
41.618 |
13.126 |
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Cash & Bank Balances |
6.108
|
34.022 |
30.295 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
52.033
|
17.233 |
24.425 |
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Total
Current Assets |
204.370
|
114.064 |
81.636 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
22.159
|
13.350 |
8.412 |
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Provisions |
8.350
|
5.515 |
2.956 |
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Total
Current Liabilities |
30.509
|
18.865 |
11.368 |
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Net Current Assets |
173.861
|
95.199 |
70.268 |
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MISCELLANEOUS EXPENSES |
0.004 |
0.005 |
0.007 |
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TOTAL |
239.322 |
144.191 |
100.690 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
1692.073 |
672.680 |
464.857 |
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Other Income |
0.532 |
1.148 |
1.264 |
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Total Income |
1692.605 |
673.828 |
466.121 |
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Profit/(Loss) Before Tax |
26.938 |
15.218 |
9.346 |
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Provision for Taxation |
8.808 |
5.571 |
4.677 |
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Profit/(Loss) After Tax |
18.130 |
9.647 |
4.669 |
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Expenditures : |
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Financial Charges |
10.247 |
3.125 |
0.000 |
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Increase/(Decrease) in Finished Goods |
(2.384) |
0.017 |
0.000 |
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Depreciation & Amortization |
8.084 |
4.469 |
3.357 |
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Other Expenditure |
1649.720 |
650.999 |
453.418 |
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Total Expenditure |
1665.667 |
658.610 |
456.775 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.07
|
1.43 |
1.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.59
|
2.26 |
2.01 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.69
|
10.22 |
9.11 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.15 |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.20
|
0.56 |
0.18 |
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Current Ratio (Current Asset/Current Liability) |
|
6.70
|
6.05 |
7.18 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
·
Jindal Polyfilms – Nashik
·
Steel Authority of India – All over India
·
Hyosung Corporation – Korea (South)
Form
No. 8
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Name of the company |
SUPER PLASTIC COATS PRIVATE LIMITED |
|
Presented By |
Praveen Kumar
Bansal |
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1) Date and description of instrument creating the change |
·
Hypothecation
agreement dated 24.12.2004. ·
Memorandum of
Deposit of Title Deeds dated 24.12.2004. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.10.000
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 raw Material, Finished and Semi finished goods and all book debts of the
company. Equitable mortgage by way of deposit of title deeds of Industrial
land measuring 2260 sq. meters and building situated at Plot No. 6 and 7, S
No. 126, 126/P, Village Amli Silvassa, union territory of Dadra and Nagar
Haveli in the name of company. ·
Hypothecation
of Plant and Machinery. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
To grant ILC/FLC
Limit of Rs.10.000 millions. Rate of Interest as per circular. Margins 15%.
Repayable on demand. |
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5) Name and Address and description of the person entitled to the charge. |
Karnataka Bank
Limited West Patel Nagar,
Delhi – 110 008., India |
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6) Date and brief description of instrument modifying the charge |
Hypothecation
agreement dated 08.10.2005 |
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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. |
Renewal of
FLC/ILC/BG with an existing limit of Rs.10.000 millions Rate of Interest
– as per circular Margin – 15% cash
Margin Mode of Repayment
– As per LC terms for FLC/ILC As per
BG rules for BG Additional
Collateral Security – Equitable
Mortgage by way of deposit of title deeds of vacant residential land bearing
plot Nos. 305 and 306, Khasra No. (i) 154/305 (0-13) and 154/306 (0-13) (ii)
154/306 and (iii) 154/305, all situated in extended Lal Dora land of revenue
estate of Village Pooth Khurd, Tehsil Narela, Distt north-west, Delhi – 39
measuring 4235 sq. yds. |
|
Corporate identity
number of the company |
U25201DL1999PTC102776 |
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Name of the
company |
SUPER PLASTIC COATS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
1, Central Market, West Avenue Road, West Punjabi Bagh, New Delhi –
110 026, Delhi |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
Karnataka Bank Limited West Patel Nagar, New Delhi – 110 008, Delhi, India |
|
Nature of
instrument creating charge |
Hypothecation
Agreement / Letter of Authority |
|
Date of
instrument Creating the charge |
29.11.2006 |
|
Amount secured by
the charge |
Rs.13.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
Interest PLR-2.50% ·
Terms of
repayment Repayable in 30 equal Monthly Installments of Rs.0.450 million and
Interest payable on monthly rests. ·
Margin 25% Plant and Machineries acquired ·
Extent and
Operation of the charge 100% ·
Others To grant DPN Loan of Rs.13.500 millions. Charge against all Stocks,
Book-Debts and Plant and Machinery both present and future. |
|
Particulars of
the property charged |
EM by way of
Deposit of title Deeds of 1.
Industrial
Land measuring 2260 Sq. mtrs. And building situated at Plot No.6 and 7, S.
No. 126, 126/P, Village Amli, Silvassa, Dadra and Nager Haveli. 2.
Residential Land
bering Plot No. 305 and 306, Khasra No. (i) 154/305 (0-13) and 154/306 (0-13)
(ii) 154/306 (iii) 154/305, Lal Dora land of revenue estate, Villa Pooth
Khurd, Tehsil Narela, Distt. North-West Delhi-39 3.
Eastern
Portion of Plot No-850, Out of Khasra No.142/850, Lal Dora Village,
Kanjhawala, Tehsil Saraswati Vihar, Delhi-81. |
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.43.21 |
|
UK Pound |
1 |
Rs.85.72 |
|
Euro |
1 |
Rs.67.92 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|