MIRA INFORM REPORT

 

 

Report Date :

07.06.2008

 

IDENTIFICATION DETAILS

 

Name :

CRYSTAL CONTAINERS

 

 

Registered Office :

404 Acme Industrial Park, Off IB Patel Road, Goregaon [East], Mumbai - 400065, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008 [Estimated]

 

 

Year of Establishment :

June 1989

 

 

PAN No.:

[Permanent Account No.]

AADPM9404B

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer of BOPP (Biaxially Oriented Poly Propylene) bags and pouches, laminated bags, laminated pouches, display bags and pouches, zipper bags and pouches, slider bags and pouches and stationery accessories made from BOPP, laminated films and PP (Poly Propylene).

 

 

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 80000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed concern meeting its normal commitments timeously. Trade relations are fair. Business is active.

 

The concern can be considered good for normal business dealings.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Balcua

Designation :

Accountant

Contact No.:

91-93260960951

Date :

05.06.2008

 

 

LOCATIONS

 

Registered Office :

404 Acme Industrial Park, Off IB Patel Road, Goregaon [East], Mumbai - 400065, Maharashtra, India

Tel. No.:

91-22-26862188 / 32426227

Fax No.:

91-22-26862185

E-Mail :

crystal@pacific.net.in  / shailesh.thawani@crystalcontainers.com   /  mail@crystalcontainers.com  /  dkmundhra@crystalcontainers.com

Website :

http://crystalpouches.net

Area :

Owned

 

 

Factory :

Roongta Industrial Estate No. 1, Gala No. 124 & 7 off Building No. 3, Zari Causeway Road, Kachigam, Daman - 396215     

Tel. No.:

91-260-2242343

Fax No.:

91-260-2242271

Area :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. D. K. Mundhra

Designation :

Proprietor

Qualification :

Graduate

Experience :

20 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of BOPP (Biaxially Oriented Poly Propylene) bags and pouches, laminated bags, laminated pouches, display bags and pouches, zipper bags and pouches, slider bags and pouches and stationery accessories made from BOPP, laminated films and PP (Poly Propylene).

 

 

Exports :

 

Products :

Packing Material [Flexible], Folders, CD Covers and Stationery Items 

Countries :

UK

 

 

Imports :

 

Products :

Machinery and Raw Material

Countries :

China and Taiwan

 

 

Terms :

 

Selling :

Credit [60 – 75 days]

 

 

Purchasing :

Cash

 

 

GENERAL INFORMATION

 

Suppliers :
  • Reliance Industries, Jamnagar
  • Zindal Polyfilms Limited, Nasik
  • Cosmo Films Limited, Aurangabad 

 

 

Customers :

Wholesalers and Retailers

 

  • Lux Housery Limited
  • Lux Cello Plastic
  • Add Pens Private Limited
  • Cello Pens and Stationery Private Limited
  • Hindustan Pencils Limited
  • Jhonson and Jhonson
  • Khandelwal Laboratories Limited
  • Reliance Plast
  • Siyaram Silk Mills Limited
  • Dudheria Textiles
  • Bhawani Textiles
  • Tainwala
  • Beiersdorf India Limited
  • Maxwell
  • Expression Gifts and Greeting

 

 

No. of Employees :

230 [In Office : 30 and In Factory : 200]

 

 

Bankers :
  • Bank of Baroda, Mangaldas Market
  • Citi Bank, Fort 

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Vijay Jain and Company

Chartered Accountants

 

 

Associates/Subsidiaries :

Nil

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs. 20.000 Millions [Estimated]

Borrowed :

--

Total :

Rs. 20.000 Millions [Estimated]

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

180.000

 

Expected Sales (2008-09) : Rs.270.000

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

TRUSTSEAL ACCEPTANCE CHART

 

 

Parameters

Details

 

 

Statutory Approvals

 

Income Tax Registration

AADPM9404B

Central Sales Tax Registration

DA/CST/4784

VAT/ TIN Registration

25000005301

Import Export Code

0388064633

Name of Bank

City Bank

Current Account Number

343100008

Account Since

1st April 2008

Emp PF Reg Number

GT/VAPZ/46973

Company ESI Reg. Number

No

RBI Code Number

No

 

 

Credibility Factors

 

IndiaMART Client Since

Above 2 Years

Years of Establishment

June 1989

 

 

Trade Affiliations

 

SSI Registration

Yes – 600101271

 

 

Chambers of Commerce Membership

Mumbai

 

 

D&B D-U-N-S Number

No

Govt. Recognised Export House Status

No

Other Affiliations

No

 

 

Standards & Certifications

 

Quality Management Systems

ISO 9001-2000

Environment Management Systems

No

Safety Certificates

No

Product Certificates

Yes

 

 

 

 

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.42.79

UK Pound

1

Rs.83.77

Euro

1

Rs.66.71

 

 

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

6

--PROFITABILIRY

1~10

4

--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

YES

--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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions