MIRA
INFORM REPORT
|
Report Date : |
19.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SPICK PACKAGING FILMS PRIVATE LIMITED |
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Registered Office : |
F-17, Okhla Industrial Area, Phase I, New Delhi 110020 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
15.10.2004 |
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CIN No.: [Company
Identification No.] |
U25202DL2004PTC130005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS29689C |
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PAN No.: [Permanent
Account No.] |
AAICS7560A |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Trader and Exporter of BOPP film, Hologram Sticker, Holographic film, Plastic film. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 10000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company meeting its smaller commitments over
times as reported. Its profitability is under severe pressure. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
INFORMATION PARTED
BY
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Name : |
Mr. Sumit Sarin |
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Designation : |
Director |
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Date : |
10.06.2008 |
LOCATIONS
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Registered Office : |
F-17, Okhla Industrial Area, Phase I, New Delhi 110020, India |
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Tel. No.: |
91-11-40523358 |
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Mobile No.: |
91-9811059500 |
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Fax No.: |
91-11-40523357 |
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E-Mail : |
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Website : |
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Area : |
1200 sq ft |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Sumit Sarin |
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Designation : |
Director |
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Address : |
F-200, W-5 Western Avenue Sanik Farms, New Delhi – 110062, Delhi,
India |
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Date of Birth/Age : |
35 years |
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Qualification : |
MBA |
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Experience : |
10 years |
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Date of Appointment: |
15.10.2004 |
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Name : |
Ms. Gauri Sarin |
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Designation : |
Director |
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Address : |
F-200, W-5 Western Avenue Sanik Farms, New Delhi – 110062, Delhi,
India |
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Date of Birth/Age : |
30 years |
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Qualification : |
MBA |
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Experience : |
5 years |
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Date of Appoinment: |
15.10.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Sumit Sarin |
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99000 |
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Gauri Sarin |
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1000 |
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Total |
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100000 |
Equity share breakup (As on
31.03.2006)
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.000 |
BUSINESS DETAILS
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Line of Business : |
Trader and Exporter of BOPP film, Hologram Sticker, Holographic film, Plastic film. |
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Products : |
Ř
Metallized Films v
Metallised Polyester Film v
BOPP/PVC Films - Metallised, Transparent, Opaque, tinted/ Twist Wrap
Grades Ř
Lamination Films v
Printed Lamination Film v
Unprinted Lamination Film v
Hot Stamping Foils v
Flexible Packaging Caminaicd films/pouches v
Laminated Board & Paper Ř
Industrial Application Films - Anti static /
Flexible Ducting / Insulation films / Electrical / Foil Laminates / Gravure/
Flexo/ Screen/Offset- printing substrates. Ř
Decorative Labels -
3d/diffractive/ iens labels and self adhesive holographic / Metalised films /
holographic tapes etc. Ř
Lacquered Films v
Metallized PVC v
Metallized Polyester v
Metallized BOPP v
Casen Offset Films Ř
Holographic Films - Wide Wed v
Polyester Holographic films v
BOPP Film v
CPP Film v
PVC Film v
Printed Holographic Laminates/ Pouches / Bags Ř Security
Labels & Films |
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Exports : |
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Products : |
Holograms Holymphic films Bopp and
Polyester fims. |
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Countries : |
C/S, South Africa, Syria, Cebanun, Vietnim, Iran and UAE. |
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Imports : |
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Products : |
Polyester film and bop film |
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Countries : |
China |
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Terms : |
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Selling : |
L/C Cash |
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Purchasing : |
L/C Cash |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers and End Users. |
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No. of Employees : |
10 |
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Bankers : |
v Syndicate Bank, Transport
Bhawan, Parliament Street, New Delhi, India v Punjab National
Bank v ICICI Bank
Limited v State Bank of
India |
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Facilities : |
Rs. 5.500 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P. B. Chopra and Company.(Chartered Accountant) |
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Address : |
Flat No. 612-612A, 59, Shakuntala Apartments, Nehru Place, New Delhi –
110019, India Tel No: 91-11-26421449 / 66601196 Email: pbchopra@rediffmail.com |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.000 Million |
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.900 |
0.000 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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4] (Accumulated Losses) |
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(0.557) |
[0.008] |
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NETWORTH |
|
0.443 |
0.092 |
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LOAN FUNDS |
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1] Secured Loans |
|
4.967 |
0.000 |
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2] Unsecured Loans |
|
0.246 |
0.000 |
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TOTAL BORROWING |
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5.213 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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5.656 |
0.092 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.811 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.154 |
0.000 |
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Sundry Debtors |
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4.330 |
0.000 |
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Cash & Bank Balances |
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0.510 |
0.084 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
1.173 |
0.000 |
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Total
Current Assets |
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10.167 |
0.084 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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6.143 |
0.000 |
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Provisions |
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0.189 |
0.005 |
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Total
Current Liabilities |
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6.332 |
0.005 |
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Net Current Assets |
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3.835 |
0.079 |
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MISCELLANEOUS EXPENSES |
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0.010 |
0.013 |
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TOTAL |
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5.656 |
0.092 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2006 |
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Sales Turnover |
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17.433 |
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Total Income |
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17.433 |
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Profit/(Loss) Before Tax |
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(0.337) |
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Provision for Taxation |
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0.187 |
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Profit/(Loss) After Tax |
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(0.524) |
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Earnings in Foreign Currency : |
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15.876 |
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Expenditures : |
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Depreciation & Amortization |
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0.631 |
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Expenditure in Forex |
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0.156 |
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Other Expenditure |
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16.983 |
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Total Expenditure |
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17.770 |
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KEY RATIOS
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PARTICULARS |
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|
31.03.2006 |
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PAT / Total Income |
(%) |
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3.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.93 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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18.60 |
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Return on Investment (ROI) (PBT/Networth) |
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0.76 |
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Debt Equity Ratio (Total Liability/Networth) |
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26.06 |
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Current Ratio (Current Asset/Current Liability) |
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1.60 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE
CHART
|
Parameters |
Detail |
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Statutory Approvals |
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Legal Status of Firm PAN |
AAICS 7560A |
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VAT/TIN Registration |
07570261622 |
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Import Export Code |
0505007207 |
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Name of Bank |
Syndicate Bank |
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Current Account Number |
90621011845 |
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Account Since |
3 years |
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Emp PF Registered Number |
No |
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Company ESI Registered Number |
No |
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Credibility Factors |
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Indiamart Client Since |
6 years |
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Trade Affliations |
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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 and
Certifications |
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Quality Management Systems |
No |
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Environment Management Systems |
No |
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Safety Certificates |
No |
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Product Certificates |
No |
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Other Certificates |
No |
FORM 8
Bankers Charges
Report as per Registry
|
Name of the company |
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Presented By |
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1) Date and description of instrument creating the change |
20.08.2005 Comprehensive Pre
and Post Shipment Agreement. Composite
Hypothecation Agreement. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3000000/-
(Rupees Thirty Lakh Only) |
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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 |
Hypothecation of
the following:- Stocks of
finished and fraw-materials of all kinds of mattalised Holographic Films, OHP
/ Montage Films, Lamination Films, with all fittings and fixtures, stored /
installed at the borrower’s premises at F-17, Okhla Industrial Area, Phase –
I, New Delhi or wherever else the same may be. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
All the
borrower’s present and future book- debts, outstandings, monies receivables,
claims and bills etc. |
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5) Name and Address and description of the person entitled to the charge. |
All amounts payable under the FDBP/FUBP/LC/FLC limited of Rs. 30.00
lakh shall carry interest at the rate of 8 percent per annum or at such other
rate(s) as may be specified by the bank from time to time. |
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6) Date and brief description of instrument modifying the charge |
Syndicate Bank Transport Bhavan, Sansad Marg,
Delhi- 110 001 |
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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. |
Not Applicable |
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Corporation identity number or foreign company registrations number of the company |
U25202DL2004PTC130005 |
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Name of the company |
Spick Packaging Films Private Limited |
|
Address |
F-17, Okhla Industrial Area, Phase I, New
Delhi 110020, India |
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This Form is for |
Modification of Charge |
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Type of Charges |
Book debts and Movable property (not being pledge) |
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Particular of the charge holder |
Syndicate Bank Transport Bhawan, 1, Sansad Marg, New Delhi 110001, Delhi, India |
|
Nature or description of the instrument creating charge |
Composite Hypothecation Agreement Comprehensive Pre and Postshipment Agreement |
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Date of the instrument creating charge |
21.12.2006 |
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Amount Secure by the charge |
Rs. 2.500 Millions |
Profile:-
Subject established 3 decades back has emerged as a leader
in the field of vacuum metallizing, coating and lamination of polyester, BOPP,
PVC, as well as manufacture of Holographic wide web films & hologram
security solutions like hologram labels, stickers, hot foil, pharma foils, PVC
sleeves etc. The company, ably run by a team of hard core professionals, who
have a comprehensive knowledge of the industry has made a place of
international reckoning in the manufacture and export of their products.
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.42.90 |
|
UK Pound |
1 |
Rs.83.74 |
|
Euro |
1 |
Rs.66.46 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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 |
|