MIRA
INFORM REPORT
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Report Date : |
15.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MANOHAR PACKAGING PRIVATE LIMITED |
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Registered Office : |
D/2, 6 and 7 Mapusa Industrial Estate, Bardez, Mapusa-403507, Goa |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.02.1994 |
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Com. Reg. No.: |
24-1529 |
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CIN No.: [Company
Identification No.] |
U74950GA19994PTC001529 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRMO7247C |
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PAN No.: [Permanent
Account No.] |
AACCM4748G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Board and Paper Products. |
RATING &
COMMENTS
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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 720000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company in its field. Directors are
reported as experienced, respectable and reputed businessmen. Their trade relations
are reported as fair. Financial position is good. 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
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Name : |
Mr. Vankatesh Rao |
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Designation : |
Account Manager |
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Contact No.: |
91-9892486981 |
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Date : |
04.07.2008 |
LOCATIONS
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Registered Office/ Factory: |
D/2, 6 and 7 Mapusa Industrial Estate, Bardez, Mapusa-403507, Goa,
India |
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Tel. No.: |
91-832-2251109 |
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Mobile No.: |
91-9892486981 |
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Fax No.: |
91-832-2251112 |
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E-Mail : |
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Area : |
Owned |
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Branch Office : |
B 34, Royal Industrial Estate, Naigaum Cross Road, Wadala,
Mumbai-400031, Maharashtra, India |
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Tel. No.: |
91-22-24121992/ 24146738 |
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Fax No.: |
91-22-24146298 |
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E-Mail : |
DIRECTORS
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Name : |
Mrs. Anuya Jitendra Nathani |
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Designation : |
Whole Time Director |
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Address : |
DX3, 3rd Floor, Solanki Heights Alto Bethim Road, Panaji,
Goa, India |
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Date of Birth/Age : |
29.04.1973 |
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Qualification : |
Graduate |
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Date of Appointment : |
21.12.1994 |
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Name : |
Mr. Jitendra Nathani |
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Designation : |
Director |
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Address : |
DX3, 3rd Floor, Solanki Heights Alto Bethim Road, Panaji,
Goa, India |
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Date of Birth/Age : |
19.02.1974 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.1996 |
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Name : |
Mrs. Neelam N. Shirodkar |
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Designation : |
Director |
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Address : |
5, Clife Tower, Mount Mary Road, Bandra (West), Mumbai, Maharashtra,
India |
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Date of Birth/Age : |
22.02.1945 |
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Date of Appointment : |
21.02.1994 |
KEY EXECUTIVES
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Name : |
Mr. Vankatesh Rao |
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Designation : |
Account Manager |
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Mobile No.: |
91-9892486981 |
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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Dattatray P. Kotwal |
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10 |
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Neelam Shirodkar |
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135480 |
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Anuya Nathiani |
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12010 |
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Nishikant Shirodkar |
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16500 |
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Aparna Shirodkar |
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18000 |
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Nishikant Shirodkar (HUF) |
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18000 |
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Total |
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200000 |
Equity Share Breakup (Percentage of Total Equity)
As on 29.09.2007
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Category |
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Percentage |
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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 Board and Paper Products. |
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Imports : |
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Products : |
Paper and Foil |
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Countries : |
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Terms : |
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Selling : |
Credit ( 60 Days) |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
75 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vaze Joshi and Associates Chartered Accountant |
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Address : |
Office No. 9-11, Dwarkanath Centre, Calangute Road, Mapusa-403507,
Bardez, Goa, India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
2.000 |
2.000 |
2.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
142.184 |
138.836 |
134.488 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
144.184 |
140.836 |
136.488 |
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LOAN FUNDS |
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1] Secured Loans |
19.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.400 |
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TOTAL BORROWING |
19.000 |
0.000 |
0.400 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
163.184 |
140.836 |
136.888 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
51.938 |
48.513 |
40.573 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
0.001 |
0.001 |
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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 |
1.896
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3.444 |
27.249 |
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Sundry Debtors |
8.080
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9.421 |
7.335 |
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Cash & Bank Balances |
1.823
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4.944 |
5.875 |
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Other Current Assets |
11.644
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5.634 |
78.935 |
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Loans & Advances |
97.904
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84.304 |
0.000 |
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Total
Current Assets |
121.347
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107.747 |
119.394 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.892
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9.612 |
13.030 |
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Provisions |
6.210
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5.813 |
10.050 |
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Total
Current Liabilities |
10.102
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15.425 |
23.080 |
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Net Current Assets |
111.245
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92.322 |
96.314 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
163.184 |
140.836 |
136.888 |
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Particulars |
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31.03.2007 |
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Sales Turnover (estimated) |
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60.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.20
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0.11 |
0.17 |
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Current Ratio (Current Asset/Current Liability) |
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12.01
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6.98 |
5.17 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- United
Spirits Limited, All over India
- Seagram,
Nashik
- Empee
Distileris, Chennai
Bankers Charges
Report as per Registry
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Name of the company |
MANOHAR PACKAGING PRIVATE LIMITED |
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Presented By |
Mrs. Anuya
Shirokdar Nathani |
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1) Date and description of instrument creating the change |
19.07.2002
Agreement of Hypothecation of Movable Property |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 15.000
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 |
Machineries Lying
At D-2/6/7 Mapusa Industrial Estate, Mapusa Bardez, Goa-403507 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Terms as per the
sanction letter extent 6 years i.e. 31.07.2008 or till the repayment of loan.
Rate of interest @ 16% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Apna Sahakari Bank Limited, A/4-5, Royal Industrial Estate, Wadala,
Mumbai-400031, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
N.A |
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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. |
N.A |
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U74950GA19994PTC001529 |
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Name of the
company |
MANOHAR PACKAGING PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
D/2, 6 and 7 Mapusa Industrial Estate, Bardez, Mapusa-403507, Goa,
India |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Apna Sahakari Bank Limited, A/4-5, Royal Industrial Estate, Wadala,
Mumbai-400031, 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 |
17.03.2008 |
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Amount secured by
the charge |
Rs. 50.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 16%
p.a. Terms of
Repayment Repayment- 84 EMI
of Rs. 1.067 Million. Margin Margin – 30% Extent and
Operation of the charge Security to cover
principal amount together with interest, costs, charges and expenses etc. Others Term Loan- Rs.
50.000 Millions |
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Short particulars
of the property charged |
First and
exclusive charge and security by way of hypothecation of present and future Plant
and Machineries such as Heidelberg Speed Master CD 74-6, Colour Offset Press
with Coating, High Pile Delivery and Additional Accessories. |
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.42.82 |
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UK Pound |
1 |
Rs.84.89 |
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Euro |
1 |
Rs.68.07 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
YES |
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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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57 |
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 |
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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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