MIRA
INFORM REPORT
|
Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
P R PACKAGING
LIMITED |
|
|
|
|
Registered Office : |
4530/A, 7/26,
Ansari Road, Darya Ganj, Delhi – 110002 |
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Country : |
India |
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|
Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.01.1990 |
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Com. Reg. No.: |
55-98177 |
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CIN No.: [Company
Identification No.] |
U74899DL1990PLC098177 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKP02343F |
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|
Legal Form : |
A Closely Held
Public Limited Liability Company |
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|
Line of Business : |
Manufacturing of packaging products |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200000 |
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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 satisfactory track. Directors are reported as
experienced, respectable and resourceful businessmen. Their trade relations are
fair. General financial position is satisfactory. Payments are usually
correct and as per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office
: |
4530/A, 7/26,
Ansari Road, Darya Ganj, Delhi – 110002, India |
|
E-Mail : |
prpack@touchtelindia.net, sep@smartechindia.com |
|
Website : |
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Head
Office/Factory : |
Plot No. 12,
Sector – 4, Faridabad – 121004, Haryana, India |
|
Tel. No.: |
91-129-5064372 to
74 / 2240248 |
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Fax No.: |
91-129-2241548 /
2240248 |
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E-Mail : |
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|
Area : |
25000 Sq. ft |
|
Location : |
Industrial |
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|
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Printed Mono Cartons Division : |
Plot No. 12, Sector-4, Faridabad - 121004, Haryana, India |
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Corrugation Division / EPS Division |
Sehrola Road, Village Prithla, Palwal, Distt. Faridabad, Haryana, India |
|
Tel. No.: |
91-1275-262664 |
|
Fax No.: |
91-1275-270222 |
DIRECTORS
|
Name : |
Mr. Ravinder
Gupta |
|
Designation : |
Chairman &
Managing Director |
|
Address : |
167, Sector – 9,
Faridabad– 121006, Haryana, India |
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Date of Birth/Age : |
12th January,
1965 |
|
Date of
Appointment : |
12th
January, 1990 |
|
|
|
|
Name : |
Ms. Punita Gupta |
|
Designation : |
Whole Time
Director |
|
Address : |
167, Sector – 9,
Faridabad – 121006, Haryana, India |
|
Date of Birth/Age : |
20th
March, 1966 |
|
Date of
Appointment : |
12th
January, 1990 |
|
|
|
|
Name : |
Mr. Arun Grover |
|
Designation : |
Director |
|
Address : |
208 A2-Railway
Flat, Panchkulan Road, New Delhi – 110001 |
|
Date of Birth/Age : |
02nd
August, 1958 |
|
Date of
Appointment : |
24th
November, 2002 |
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|
|
|
Name : |
Mr. Suresh Chand |
|
Designation : |
Director |
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Address : |
220 KV, BBMB
Power House, House No. B-1, Samaypur, Ballabgarh, Faridabad, Haryana,
India |
|
Date of Birth/Age : |
27th
April, 1975 |
|
Date of
Appointment : |
9th
March, 2002 |
|
|
|
|
Name : |
M/s. Anupma Uppal
& Associates |
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Designation : |
Company Sectary |
|
Address : |
KD 77 – C, Ashok
Vihar, Phase – 1, Delhi – 110052 |
|
Date of
Birth/Age : |
91-11-25361886 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 24.09.2005
|
Names of Shareholders |
|
No. of Shares |
|
R. K. Gupta |
|
4071200 |
|
Puneeta Gupta |
|
2109000 |
|
R. K. Gupta HUF |
|
651000 |
|
Anita Kapoor |
|
196000 |
|
Sunflower Holding [P] Limited |
|
225000 |
|
Jewel Securities Private Limited |
|
143500 |
|
Ravlek Finance and Leasining |
|
206500 |
|
Suresh Chand |
|
320000 |
|
Sanjay Gupta |
|
35000 |
|
Nidhi Gupta |
|
95000 |
|
Raman Gupta |
|
75000 |
|
Rajeev Gupta |
|
75000 |
|
Narender Kumar Nagpal |
|
85000 |
|
Inderjeet Lamba |
|
50000 |
|
Laxmi Devi |
|
50000 |
|
S. I. Gupta |
|
70000 |
AS ON 30.04.2007
|
Names of Allottee |
|
No. of Shares |
|
Aapki Marketing
Private Limited |
|
8000 |
|
Chitransh
Software and Marketing Private Limited |
|
4000 |
|
Kunhar Mercentile
Private Limited |
|
5000 |
|
Onflow Agro
Private Limited |
|
6000 |
|
Nitin Bansal |
|
4000 |
|
Vaare Exim Private Limited |
|
8000 |
|
Bedeck Estate and Properties Limited |
|
6000 |
|
X-Ray Films and Advertising Private Limited |
|
4000 |
|
Diana Builders and Contractors |
|
5000 |
|
Rakesh Kumar Garg |
|
3000 |
|
United Head Hunters Private Limited |
|
5000 |
|
Ashok Kumar Garg |
|
3000 |
|
Susheela Garg |
|
3000 |
|
Surender Garg |
|
3000 |
|
Naveem Kumar Garg |
|
3000 |
|
Total |
|
70000 |
AS ON 30.09.2007
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
47.00 |
|
Directors or relatives of directors |
|
51.00 |
|
Other top fifty shareholders |
|
2.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of packaging products |
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Products : |
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GENERAL
INFORMATION
|
Customers : |
v
Bacton Dickinson India
Limited v
Sinhal Metal Industrial
Limited v
Ishwar Dass Amir Chand v
Usha Group of India v
Mero Tyres Limited v
Philips India Limited v
Magppie Export v
Mayor International Limited v
Tecumseh Product India
Private Limited v
Moser Baer India Limited v
Samsung v
Maruti Udyog Limited v
Hero Honda v
LG Electronics v
National Panasonic v
Whirpool v
Steelbird v
Mosearbear v
Mero Tyres v
Philips |
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|
|
|
No. of Employees : |
100 |
|
|
|
|
Bankers : |
v
IDBI v
Small Industries Development Bank
of India, SIOBI Tower, 15 Ashok Marg, Lucknow – 226001, Uttar Pradesh, India v
Oriental Bank of India v
ICICI Bank Limited v
Citibank v
Life Insurance Corporation |
|
|
|
|
Facilities : |
v
Term Loan of Rs. 3.438 Millions
from SIDBI v
WCTL - Rs. 4.600 Millions v
Term Loan – Rs. 14.865
Millions from Oriental Bank of Commerce v
Term Loan – Rs. 0.800
Millions |
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|
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|
Banking
Relations : |
Satisfactory |
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|
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Auditors : |
Pankaj Oswal & Company Chartered
Accountant Address : LGF 54,
NRI Complex, Mandakini, G.K. – IV, New Delhi – 110019 Tel. No.: 91-11-26260070/26277030 E-Mail : pankajos@vsnl.com Rahul Verma Chartered
Accountants 134, Om Shubham Plaza,
Sector – 16, Faridabad – 121002, Haryana, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs. 10/- Each |
Rs. 25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2197228 |
Equity Shares |
Rs. 10/- Each |
Rs. 21.972 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
21.972 |
21.272 |
18.522 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
26.942 |
18.195 |
10.765 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
48.914 |
39.467 |
29.287 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
94.170 |
56.191 |
30.989 |
|
|
2] Unsecured Loans |
2.000 |
2.900 |
1.800 |
|
|
TOTAL BORROWING |
96.170 |
59.091 |
32.789 |
|
|
DEFERRED TAX LIABILITIES |
7.761 |
6.167 |
6.904 |
|
|
|
|
|
|
|
|
TOTAL |
152.845 |
104.725 |
68.980 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
103.756 |
35.759 |
36.442 |
|
|
Capital work-in-progress |
0.063 |
26.018 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.829
|
19.682 |
13.636 |
|
|
Sundry Debtors |
29.388
|
29.336 |
19.951 |
|
|
Cash & Bank Balances |
3.073
|
5.713 |
7.183 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
9.209
|
6.322 |
3.940 |
|
Total
Current Assets |
59.499
|
61.053 |
44.710 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
9.892
|
19.979 |
13.808 |
|
|
Provisions |
0.847
|
1.119 |
0.576 |
|
Total
Current Liabilities |
10.739
|
21.098 |
14.384 |
|
|
Net Current Assets |
48.760
|
39.955 |
30.326 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.266 |
2.993 |
2.212 |
|
|
|
|
|
|
|
|
TOTAL |
152.845 |
104.725 |
69.980 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
166.003 |
141.059 |
133.756 |
|
|
Other Income |
0.591 |
0.288 |
0.225 |
|
|
Total Income |
166.594 |
141.347 |
133.981 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
6.623 |
2.979 |
4.884 |
|
|
Provision for Taxation |
2.324 |
0.091 |
1.540 |
|
|
Profit/(Loss) After Tax |
4.299 |
2.888 |
3.344 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
105.012 |
101.615 |
99.566 |
|
|
Consumption of stores and spares parts |
5.611 |
2.310 |
2.413 |
|
|
Increase/(Decrease) in Finished Goods |
3.267 |
[3.894] |
[6.197] |
|
|
Salaries, Wages, Bonus, etc. |
6.688 |
5.154 |
4.339 |
|
|
Managerial Remuneration |
1.564 |
1.080 |
0.600 |
|
|
Payment to Auditors |
0.022 |
0.022 |
0.022 |
|
|
Interest |
6.848 |
2.585 |
1.819 |
|
|
Insurance Expenses |
0.618 |
0.298 |
0.262 |
|
|
Power & Fuel |
7.810 |
9.526 |
8.878 |
|
|
Depreciation & Amortization |
4.534 |
3.341 |
3.188 |
|
|
Other Expenditure |
17.997 |
16.262 |
14.207 |
|
Total Expenditure |
159.971 |
138.299 |
129.097 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.58
|
2.04 |
2.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.99
|
2.11 |
3.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.06
|
3.08 |
6.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.08 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.19
|
2.03 |
1.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.54
|
2.89 |
3.11 |
LOCAL AGENCY FURTHER
INFORMATION
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899DL1990PLC098177 |
|
Name of the
company |
P R PACKAGING
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
4530/A, 7/26,
Ansari Road, Darya Ganj, Delhi – 110002, India |
|
Type of charge |
|
|
Particular of
charge holder |
Small Industries Development
Bank of India, N. H. 5/R-2, Neelam Badshah Khan Road, NIT, Faridabad –
121002, Haryana, India |
|
Nature of
description of the instrument creating or modifying the charge |
|
|
Date of
instrument Creating the charge |
29.02.2008 |
|
Amount secured by
the charge |
Rs. 85.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest will be
payable at the rate of 11 % p.a. with monthly rests, on the principal amount
of the loan outstanding from time to time. Terms of
Repayment The entire loan
shall be repaid in 54 monthly installments, First 24 installment of Rs. 1.000
Million each, next 29 installments of Rs. 2.000 Millions each followed by
last installment of Rs. 3.000 Millions each, commencing after a moratorium of
12 months from the date of first disbursement. Margin As per SIDBI
Norms Extent and
Operation of the charge
Immovable property
situated at khewat / khata No. 266/312, Mustil No. 40, Kila No. 13/2 [2/10],
14 [8-0], 15/1 [5-7], 16 [8-0], 17 [0-3] adm 24 kanals And Building situated bearing khewat / khata No. 266/312, Mustil No.
40, Kila No. 13/2 [2/10], 14 [8-0], 15/1 [5-7], 16 [8-0], 17 [0-3] adm 24 kanals
adm 17 kanals 19 marle |
|
Short particulars
of the property charged |
Immovable property
situated at khewat / khata No. 266/312, Mustil No. 40, Kila No. 13/2 [2/10],
14 [8-0], 15/1 [5-7], 16 [8-0], 17 [0-3] adm 24 kanals And Building
situated bearing khewat / khata No. 266/312, Mustil No. 40, Kila No. 13/2
[2/10], 14 [8-0], 15/1 [5-7], 16 [8-0], 17 [0-3] adm 24 kanals adm 17 kanals
19 marle |
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.42.23 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.66.41 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|