MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUPER PACKER SYSTEMS |
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Registered Office : |
A-II, National Mill Compound,
Behind Hotel Nidhi, Dahisar (East), Mumbai-400068, Maharashtra. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment: |
1997 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Packing
Systems sold under brand ‘Super Packer’ |
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 30000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well
established concern having satisfactory track. Proprietor of the concern is
experienced, respectable and having satisfactory means of his own. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be
considered normal for business dealings at usual terms and conditions. Mr. Govind Shirodkar
denied financials. |
INFORMATION PARTED
BY
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Name : |
Mr. Joshi |
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Designation : |
Sale and Purchase Manager |
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Date : |
09.07.2008 |
LOCATIONS
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Registered Office : |
A-II, National Mill
Compound, Behind Hotel Nidhi, Dahisar (East), Mumbai-400068, Maharashtra,
India |
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Tel. No.: |
91-22-28488261 |
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Mobile No.: |
91-9867322219 |
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Fax No.: |
91-22-28488145 |
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E-Mail : |
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Website : |
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Area : |
500 sq. ft. (Owned) |
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Factory : |
9/ NIN Industrial Estate, National Highway No. 8, Kashmira, Thnae,
Maharashtra, India |
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Area : |
2500 sq ft ( Owned) |
SOLE PROPRIETOR
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Name : |
Govind Shirodkar |
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Designation : |
Proprietor |
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Address : |
A-II, National Mill
Compound, Behind Nidhi Hotel, S. V. Road, Dahisar (East), Mumbai-400068,
Maharashtra, India |
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Date of Birth/Age : |
42 Years |
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Qualification : |
B.E. (Mechanical) |
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Experience : |
15 years |
KEY EXECUTIVES
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Name : |
Mr. Joshi |
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Designation : |
Sale and Purchase Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Packing
Systems sold under brand ‘Super Packer’ |
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Products : |
Form Fill and Seal
Machines : Ø
Form fill and Seal Machines
for Granules Ø
Form Fill and Seal
Machines for Impulse Sealing (Liquid Machine) Ø
Form Fill and Seal
Machines for Powders Ø
Form Fill and Seal
Machines for Liquids Ø
Form Fill and Seal Auger
Filler Ø
Form Fill and Seal Weigh
for Matric Filler Semi Automatic Sealing
Machines : Ø
Continuous Brand Sealer Ø
Nitrogen Gas Flushing And
Sealing Machine Ø
Lead Sealer Ø
Foot Sealer Semi Automatic Filling
Machine : Ø
Semi Automatic
Weighmating Filling Machine Ø
Semi Automatic Auger
Filler Ø
Semi Automatic Liquid
Filling Machine Ø
Semi Automatic Cup
Filling Machine Shrink Wrapping Machines
: Ø
Shrink Chember with L
Sealer Ø
Shrink Converised Tunnel Wrapping Machines : Ø
Flow Wrapping Machines Ø
Candy Wrapping Machines Ø
Over Wrapping Machines |
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Brand Names : |
Super Packer |
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Exports : |
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Countries : |
African Countries, Gulf
Countries |
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Terms : |
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Selling : |
L/C, Cash, Contract |
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Purchasing : |
Cash, Credit (30- 60
Days) |
GENERAL
INFORMATION
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Customers : |
End Users, Wholesalers |
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No. of Employees : |
16 (Office 8, Factory 8) |
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Bankers : |
¡
Bank Of India Dahisar (West),
Mumbai-400068, Maharashtra, India ¡
ICICI Bank Limited Borivali (West), Mumbai,
Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jagdish Oza Chartered Accountant |
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Address : |
Borivali (West) |
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Associates/Subsidiaries : |
Super Engineers Mumbai Line of Business : OEM for
Flat Products ( India) Limited |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 6.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 6.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
10.000 |
6.500 |
6.500 |
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Export Value |
NA |
NA |
30% |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Creative
Enterprises, Mumbai
- Western
Engineers, Mumbai
- Prime Control
System, Mumbai
As Per Web
Subject is a reputed
manufacturer, supplier and exporter of Packaging Systems from India. Their main
product line of packaging machines consists of semi automatic packaging
machines such as form fill & seal and shrink wrapping machinery for various
industrial applications. Well equipped with vast experience and comprehensive
knowledge about the industry trends and market needs, they develop machinery to
meet the requirements of clients.
Subject started in the year 1996 with a mission to provide one stop
solution for all of the packaging requirements of the customers. They have
grown tremendously in these eight years and established themselves as the most
accomplished trading company, manufacturer, exporter and supplier of Super Packer Form Fill Seal Machines,
Pneumatic Form Fill Seal Machines, Weightmatic Form Fill Seal Machines, Direct
Filling Machines, Liquid Filling Machines, Nitrogen Flushing/ Vacuum Sealing
Machines, Sealing Machines, Shrink Wrapping Machines and Special Purpose
Machines. Their wide experience of designing and manufacturing of
packaging system has helped us to deliver most innovative and reliable products
at affordable rates to their esteemed customers. Their premium quality
products, excellent after sale services, cutting edge technology and prompt
deliveries has helped us to win the trust, confidence, assurance and support of
the worldwide customer base. Today, they are exporting their products to
worldwide market including UK, Canada,
Middle East and Africa.
Products
They believe in constant progression and development of their product
range in order to meet the specific requirements of the customers. They offer
wide and unparalleled range of impeccable quality machines.
Product Range
include:
- Form Fill
& Seal Machine for Impulse Sealing ( Liquid Machine)
- Form Fill
& Seal Machines for Powders
- Form Fill
& Seal Machines for Liquids
- Form Fill
& Seal Auger Filler
- Form Fill
& Seal Weigh for Matric Filler
Semi
Automatic Sealing Machines
- Nitrogen Gas
Flushing and Sealing Machine
Semi
Automatic Filling Machines
- Semi
Automatic Weighmatic Filling Machine
- Semi
Automatic Liquid Filling Machine
- Semi
Automatic Cup Filling Machine
- Shrink
Chamber with L Sealer
Application
Industry
They offer
technology driven, application-specific packaging that includes- forming,
filling & sealing of bags, containers, pouches, cups, bottles, lids etc for
the following major industry segments-
» Food & Pharma Industry
» Packaging industry
» Bearing Industry
» Plastic Industry
» Chemical Industry
» Hotel Industry
» Confectionery Industry
Trade References – Local
Ø Nichoas Piramal Laboratories Limited, Mumbai
Ø Girnar Tea, Kurla
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.94 |
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UK Pound |
1 |
Rs.85.78 |
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Euro |
1 |
Rs.68.01 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
YES |
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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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46 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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