MIRA
INFORM REPORT
|
Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BONNY PRODUCTS PRIVATE LIMITED |
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Registered Office : |
B-12, Prahlad Market, D B Gupta Road, Karolbagh, New Delhi – 110005 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.04.1991 |
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Com. Reg. No.: |
55-43877 |
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CIN No.: [Company
Identification No.] |
U74899DL1991PTC043877 |
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IEC No.: |
0591008742 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB06888A |
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PAN No.: [Permanent
Account No.] |
AAACB0225B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Baby Bottles, Nipples and
Diapers. |
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 220000 |
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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 and reputed concern having satisfactory track. Directors are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are fair. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Harish Kumar |
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Designation : |
Accountant |
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Date : |
23.06.2008 |
LOCATIONS
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Registered/ Head Office : |
B-12, Prahlad Market, D B Gupta Road, Karolbagh, New Delhi – 110005, India |
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Tel. No.: |
91-11-55467177/ 25819314/ 4260571 |
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Fax No.: |
91-11-25819314 |
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E-Mail : |
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Website : |
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Corporate Office : |
D – 240, Sector – 63, Phase – 3, Noida – 201301, Uttar Pradesh, India |
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Mobile No.: |
91-9810015615 (Mr. Gaurav Aneja) |
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Tel. No.: |
91-120-4260560/4 |
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Email : |
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Website : |
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Location : |
Owned |
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Factory/Plant: |
E-13, Sector-XI, Phase-I, Noida 201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-2527986, 2527987, 2551225 |
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Fax No.: |
91-120-2522493 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Des Raj Aneja |
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Designation : |
Managing Director |
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Address : |
6/75, West Punjabi Bagh, New Delhi – 110026, India |
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Date of Birth/Age : |
28.02.1934 |
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Date of Appointment : |
10.04.1991 |
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Name : |
Mr. Gaurav Aneja |
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Designation : |
Director |
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Address : |
6/75, West Punjabi Bagh, New Delhi – 110026, India |
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Date of Birth/Age : |
27.06.1978 |
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Date of Appointment : |
03.03.1997 |
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Name : |
Mr. Sudesh Aneja |
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Designation : |
Director |
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Address : |
6/75, West Punjabi Bagh, New Delhi – 110026, India |
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Date of Birth/Age : |
20.05.1943 |
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Date of Appointment : |
08.04.1997 |
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Name : |
Mrs. Sarla Aneja |
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Designation : |
Director |
KEY EXECUTIVES
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Name: |
RMG And Associates |
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Designation: |
Company Secretary |
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Address: |
207, Suchet Chambers, 1224/5, Bank Street, Karol Bagh, New Delhi 110005, India |
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Mobile: |
91-9212221110/ 9868113870 |
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Fax: |
91-11-41450970 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Des Raj Aneja |
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80000 |
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Mr. Gaurav Aneja |
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25005 |
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Mr. Sudesh Aneja |
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25000 |
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Total |
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130005 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Baby Bottles, Nipples and
Diapers. |
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Products : |
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Exports : |
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Products : |
All Products |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Purchasing : |
LC basis on cash and credit on 30 to 60 days term |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
120 |
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Bankers : |
· ICICI Bank Limited · Indian Bank, West Patel Nagar, New Delhi, India · Punjab National Bank, Delhi Branch, India · State Bank of India Commercial Branch, Sector – 18, Noida – 201301, Uttar Pradesh, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Anil Kakar And Associates Chartered Accountant |
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Address : |
6, Central Lane, Bengali Market, New Delhi 110001, India |
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Tel. No.: |
91-11-23315190, 23315126 |
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E-Mail : |
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Associates/Subsidiaries : |
Group Industrial Area, Wazirpur, Delhi, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs100/- Each |
Rs.15.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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130005 |
Equity Shares |
Rs100/- Each |
Rs.13.001 millions |
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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 |
13.001 |
13.001 |
13.001 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
31.935 |
29.318 |
27.046 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
44.936 |
42.319 |
40.047 |
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LOAN FUNDS |
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1] Secured Loans |
23.873 |
15.123 |
12.725 |
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2] Unsecured Loans |
0.598 |
0.098 |
0.119 |
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TOTAL BORROWING |
24.471 |
15.221 |
12.844 |
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DEFERRED TAX LIABILITIES |
0.151 |
0.520 |
0.137 |
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TOTAL |
69.558 |
58.060 |
53.028 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
58.363 |
59.729 |
21.399 |
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Capital work-in-progress |
5.321 |
0.000 |
20.061 |
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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 |
16.955
|
12.008 |
9.165 |
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Sundry Debtors |
5.813
|
12.795 |
15.919 |
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Cash & Bank Balances |
0.833
|
3.084 |
0.552 |
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Other Current Assets |
0.690
|
0.696 |
0.519 |
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Loans & Advances |
3.959
|
2.628 |
3.007 |
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Total
Current Assets |
28.250
|
31.211 |
29.162 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
18.769
|
32.880 |
17.594 |
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Provisions |
3.607
|
0.000 |
0.000 |
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Total
Current Liabilities |
22.376
|
32.880 |
17.594 |
|
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Net Current Assets |
5.874
|
(1.669) |
11.568 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
69.558 |
58.060 |
53.028 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
118.673 |
100.367 |
79.444 |
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Other Income |
0.671 |
0.642 |
0.530 |
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Total Income |
119.344 |
101.009 |
79.974 |
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Profit/(Loss) Before Tax |
4.359 |
7.228 |
6.487 |
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Provision for Taxation |
1.742 |
4.956 |
0.000 |
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Profit/(Loss) After Tax |
2.617 |
2.272 |
6.487 |
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Export Value |
3.076 |
2.937 |
3.246 |
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Import Value |
30.572 |
32.097 |
16.634 |
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Total Expenditure |
114.985 |
93.781 |
73.487 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.19
|
2.25 |
8.11 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.67
|
7.20 |
8.17 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.05
|
0.08 |
0.13 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.17 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.04
|
1.14 |
0.76 |
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Current Ratio (Current Asset/Current Liability) |
|
1.26
|
0.95 |
1.66 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
|
Parameters |
Details |
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Existence
Verification |
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|
Name |
Bonny Products Private Limited |
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Address |
D – 240, Sector – 63, Phase – 3, Noida - 201301, Uttar Pradesh, India |
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Phone Numbers |
91-120-2522493 |
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Mobile Numbers |
91-9871127333 |
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Fax Numbers |
91-120-2522493 |
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Statutory
Approvals |
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|
Legal Status of Firm |
Private Limited Company Registered under Indian Companies Act 1956 |
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Income Tax Registration |
AAACB0225B |
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Central Sales Tax Registration |
ND 5042931 |
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State Sales Tax Registration |
ND 0044234 |
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VAT/ TIN Registration |
09165900005 |
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Excise Registration |
AAACB0225BXM001 |
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Import Export Code |
0591008742 |
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Name of Bank |
State Bank of India |
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Current Account Number |
10642215399 |
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Account Since |
More than 10 year |
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Credibility
Factors |
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IndiaMART Client Since |
5 years |
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Trade
Affiliations |
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SSI Registration |
No |
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Export Promotion Council |
Yes |
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Chambers of Commerce Membership |
Yes |
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Standards & Certifications |
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Quality Management Systems |
Yes |
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Environment Management Systems |
No |
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Safety Certificates |
Yes |
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Product Certificates |
Yes |
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Other Cerficates |
ISO 9001:2000 |
Form 8:
|
Corporate identity
number of the company |
U74899DL1991PTC043877 |
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Name of the
company |
BONNY PRODUCTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
B-12, Prahlad Market, D B Gupta Road, Karolbagh, New Delhi – 110005 |
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This form is for |
Modification of
charge |
|
Type of charge |
Immovable
Property |
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Particular of
charge holder |
State Bank of India Commercial Branch, Sector – 18, Noida – 201301, Uttar Pradesh, India |
|
Nature of
instrument creating charge |
Memorandum for
recording Extension of Mortgage by deposit Title deeds Letter of confirmation
for extension of mortgage by deposit of title deeds |
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Date of
instrument Creating the charge |
13.03.2007 |
|
Amount secured by
the charge |
Rs.40.650
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Interests on
working capital and term loan shall be charged with a minimum of 12.25% p.a.
or at such other rate or rates as may be notifies by the Bank to the borrower
from time to time. Term loan
Repayment: As per
Hypothecation Agreement and /or as advised by the Bank of the borrower from
time to time Margin: Margin on raw
materials Indigenous, Semi finished goods, Finished Goods 25%, Domestic
receivable 90 days, 40% , Export Packing Credit – 10%, Term Loan – 25%,
Letter of Credit and Bank Guarantee – 25% Extent and
operation of the charge: The company
proprieties mentioned hereunder are mortgaged to collaterally secure the
following credit facilities granted by Bank to the company. CC (Hyp.) Rs.12.500
Millions (Sub Limit – EPC/FBP – Rs.1.200 Millions with CC (Hyp), SLC –
Rs.1.900 Millions, SLC for Purchases of Car Rs.1.250 Millions, Term Loan
Rs.0.800 Million, Term Loan 2: Rs.14.200 Millions, Term Loan 3: Rs.5.000
Millions Letter of Credit Rs.4.000 Millions and BG Rs.1.000 Millions. (Total Limit
Aggregating to Rs.40.650 Millions) Others : During the
currency of the bank credit facilities, the Unit Guarantee will not without
the Bank prior permission in writing:- Enter in to
borrowing arrangement either secured or Unsecured with any other Bank, FIs
Company or person Undertake
Guarantee Obligation on behalf of any other company firm or person. Crete any further
charge lien or encumbrance over the assets and properties of the Unit/
Guarantee to be charge. To the Bank in favour other Bank, FI firm ot person. |
|
Particulars of
the property charged |
Equitable
Mortgage by way of deposit of title deeds in respect of company following
immovable properties as under:- Equitable
mortgage of factory land and building situated at E-13, Sector – 11, Phase –
I, Noida, Equitable
mortgage of factory land and building situated at D-240, Sector – 63, Noida,
India Together with all
building super structure, construction, fixed machinery and plant, fixture
and fitting thereat. |
|
Particulars of
the present modification |
On renewal, the
overall credit facilities granted by bank to the company has now been
enhanced from Rs.35.000 Millions to Rs.40.650 Millions. Therefore the total amount
of charge secured against equitable mortgage by way of deposit of title deeds
in respect of company’s immovable properties as mentioned in point no. 14
above and modified from time to time has now been enhanced from to Rs.35.000
Millions to Rs.40.650 Millions (Breakup of limits as described in point no.12
above) |
Website Details
Profiles:
Subject is an ISO 9002 company. The company is a well known name through out India as a manufacturer, importer and exporter of Quality Baby Products. The company is in the business of manufacturing and marketing in the product segment of baby-care/infant nursing products.
With over three decades of experience, the company is recognized as one of the Trusted and Quality oriented Supplier of Infant Care products like Feeding Bottles, Nipples, Pacifiers, Soothers, Baby Teats, LSR baby Nipples, Nr Baby Nipples, Baby Feeders, Plain rounded/embossed baby bottles and Printed round baby bottles.
The product range of company generally complies with FDA regulations and proper care is taken to ensure the quality of products for maximum safety and comfort of babies. The nipples are manufactured using the Limstech (LIM) Technology, and for bottles the Stretch Blow Mould Technology is used, which conform to the highest quality standards.
Subject is a dynamic Manufacturing and Marketing Group and has developed itself constantly to meet the challenges of the fast changing market scenario both in Domestic and International Sector. The company's endeavour is to make best quality products with most safe raw materials and with a Total Quality Management approach. TQM is the quality concept right from the stage of procurement of raw materials, processing, packaging, dispatch and delivery of the finished goods to clients and consumers.
Company practices have evolved out of long experience and knowledge of baby nursing needs. The company manufactures baby products under the most hygienic conditions, independent of human - touch and on state of art automatic machines, moulds and accessories of reputed make.
The company has a fine tuned system for integrating customer needs right from the point factory sales and marketing to retail outlet and the user client. The company is in continuous contact with their customers in an endeavour of fulfilling their entire customer' requirements and aspirations.
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.43.37 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.68.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|