MIRA
INFORM REPORT
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Report Date : |
3.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
NEWGEN SPECIALITY PLASTICS LIMITED |
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Registered Office : |
166, Aggarwal Chamber-III, Vir Saverkar Block, Shakarpur Delhi 110092. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.10.2006 |
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Com. Reg. No.: |
55-154715 |
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CIN No.: [Company
Identification No.] |
U25209DL2006PLC154715 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTN01163B |
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PAN No.: [Permanent
Account No.] |
AACCN3740P |
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Legal Form : |
A Closely held Public Limited Company |
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Line of Business : |
Manufacturer and Exporter of Additive Masterbatches and Special
Polymer Compounds for cable, Defence, Automotive, Railways, and Packging and
Rotomolding Industry. |
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 35080 |
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Status : |
New Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company in its field. It has yet to established it’s track.
Trade relation are fair. Payments are reported as slow but correct. The concern can be considered normal for business dealings at usual
trade terms and conditions with same caution. |
LOCATIONS
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Registered Office : |
166, Aggarwal Chamber-III, Vir Saverkar Block, Shakarpur Delhi 110092. |
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E-Mail : |
arc1986@gmail.com |
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Factory : |
C-451, Sector –X, Noida, Uttar Pradesh, India. |
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Tel. No.: |
91-118-4547853/ 452457 (AK Singh) |
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Fax No.: |
91-118-4456440 |
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E-Mail : |
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Administrative Office: |
F-46, Site C, Surajpur Industrial Area, Greater Noida, Noida 201306,
Uttar Pradesh, India. |
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Corporate Office: |
C-78, Sector 63, Noida, Uttar Pradesh 201307, India. |
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Tel No: |
91-120-4143200 |
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Fax No: |
91-120-4143299 |
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E-Mail: |
DIRECTORS
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Name : |
Mr. Amit Kumar Singh |
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Designation : |
Director |
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Address : |
33-B Shatabdi Vihar, Sector 61, Noida 201301, Uttar Pradesh. |
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Date of Birth/Age : |
17.08.1980 |
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Date of Appointment : |
11.10.2006 |
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Directorship in other Companies: |
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CIN of Company: |
U74899DL1995PTC068871 |
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Name of the Company: |
NEWGEN POLYMERS PRIVATE LIMITED |
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Designation: |
Director |
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Name : |
Mr. Vijay Kumar Singh |
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Designation : |
Director |
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Address : |
Flat No. 263 Sector 62, Gail Apartments, B 9/1, Noida 201301, Uttar
Pradesh. |
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Date of Birth/Age : |
15.01.1962 |
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Date of Appointment : |
11.10.2006 |
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Directorship in other Companies: |
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CIN of Company: |
U74899DL1995PTC068871 |
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Name of the Company: |
NEWGEN POLYMERS PRIVATE LIMITED |
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Designation: |
Director |
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Name : |
Mr. Sheo Kumor Sing |
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Designation : |
Director |
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Address : |
33-B Shatabdi Vihar, Sector 61, Noida 201301, Uttar Pradesh. |
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Date of Birth/Age : |
03.05.1972 |
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Date of Appointment : |
11.10.2006 |
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Directorship in other Companies: |
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CIN of Company: |
U74899DL1995PTC068871 |
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Name of the Company: |
NEWGEN POLYMERS PRIVATE LIMITED |
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Designation: |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 03.09.2007)
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Names of Shareholders |
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No. of Shares |
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Mr. Vijay Kumar Singh |
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170500 |
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Mr. Sheo Kumar Singh |
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106000 |
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Mr. Amit Kumar Singh |
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360000 |
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Mr. Jodhan Singh |
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3000 |
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Ms. Maya Singh |
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6500 |
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Ms. Renuka Singh |
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11000 |
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Mr. Sumit Kumar Singh |
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3000 |
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Expert Logistics Private Limited |
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20000 |
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Mr. Kim Sinha |
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20000 |
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Total |
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700000 |
Equity Share Breakup (Percentage of total equity )
(As on 03.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
91.00 |
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Other top fifty (50) Shareholders |
9.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Additive Masterbatches and Special
Polymer Compounds for cable, Defence, Automotive, Railways, and Packging and Rotomolding
Industry. |
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Products : |
·
Additive Masterbatches ·
Special Plastic Products ·
Special Plastic Compounds ·
Plastic Fuel Tanks ·
Plastic Pallets |
PRODUCTION STATUS
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S. No |
Particularts |
Amount (Rs. In
Millions) |
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1 |
Unit |
KGS/PEC |
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2. |
Licensed Capacity |
NA |
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3. |
Installed Capacity (Single Shift) |
60.000 |
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4. |
Actual Production |
11.178 |
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5. |
Opening Stock (Amount) |
2.480 |
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6. |
Sales (Amount) |
8.923 |
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7. |
Closing Stock (Amount) |
4.735 |
GENERAL
INFORMATION
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Bankers : |
Oriental Bank of Commerce, Barola Branch, Sector 49, Noida 201301, Uttar Pradesh, India. |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Arora Rajesh and Company, Chartered Accountant |
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Address : |
C-78, Sector-63, (G B Nagar) Noida 201301, Uttar Pradesh. |
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Mobile No.: |
91-9810306117 |
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E-Mail : |
arc1986@gmail.com |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs.10/- Each |
Rs.15.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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700000 |
Equity Shares |
Rs.10/- Each |
Rs.7.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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7.000 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.016 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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7.016 |
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LOAN FUNDS |
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1] Secured Loans |
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20.938 |
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2] Unsecured Loans |
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2.750 |
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TOTAL BORROWING |
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23.688 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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30.704 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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15.892 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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14.695 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.303 |
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Other Current Assets |
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3.323 |
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Loans & Advances |
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1.551 |
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Total
Current Assets |
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19.872 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.172 |
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Provisions |
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0.016 |
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Total
Current Liabilities |
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5.188 |
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Net Current Assets |
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14.684 |
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MISCELLANEOUS EXPENSES |
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0.128 |
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TOTAL |
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30.704 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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8.923 |
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Other Income |
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0.157 |
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Total Income |
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9.080 |
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Profit/(Loss) Before Tax |
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0.032 |
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Provision for Taxation |
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0.016 |
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Profit/(Loss) After Tax |
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0.016 |
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Expenditures : |
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Employees Emoluments and Benefits |
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0.920 |
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Manufacturing Expenses |
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9.794 |
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Administrative Expenses |
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0.820 |
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Selling and Distribution Overheads |
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0.040 |
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Increase/(Decrease) in Finished Goods |
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(4.049) |
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Financial Charges |
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0.825 |
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Preliminary Expenses |
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0.032 |
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Depreciation & Amortization |
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0.666 |
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Total Expenditure |
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9.048 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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0.18 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.36 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.09 |
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Return on Investment (ROI) (PBT/Networth) |
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0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.11 |
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Current Ratio (Current Asset/Current Liability) |
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3.83 |
LOCAL AGENCY
FURTHER INFORMATION
History:
Incorporation and
Commencement of Business:
The company was Incorporated on 1th October 2006 vide
Certificate of Incorporation No:U25209DL2006PTC154715 dated 11.10.2006 issued
by the Registrar of Companies, NCT of Delhi and Haryana and the Certificate of
Commence of Business was issued to the company on 16th
November,2006.
Financial
Performances:
The Company has taken over the running business of Subject Proprietory
firm of Sh. Amit Kumar Singh, Dorector as a going concern.
Fixed Assets:
·
Computer
·
Fire Extingusher
·
Furniture and Fixture
·
Land (E-24)
·
Office Equipments
·
Plant and Machinery
·
Shed and Building
·
Vehicle-Tampoo
Form 8:
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This form is for |
Creation of
charge Modification of
charge |
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Charge
identification number of the modified
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10034532 |
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Corporate
identity number of the company |
U25209DL2006PLC154715 |
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Name of the
company |
NEWGEN SPECIALITY PLASTICS LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
166, Affarwal Chamber-III, Vir Saverkar Block, Shakarpur Delhi 110092,
India. |
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Type of charge |
Movable Property Others |
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Particular of
charge holder |
Name: Oriental
Bank of Commerce, Address: Barola
Branch, Sector 49, Noida 201301 Uttar Pradesh. E-Mail: arcfintax@gmail.com |
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Nature of
description of the instrument creating or modifying the charge |
Supplement
Agreement to secure credit/Loan Facilities Loan Doc 13, Dated 30.06.2008 |
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Date of
instrument Creating the charge |
30.06.2008 |
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Amount secured by
the charge |
28.000 |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
The Rate of interest Shall Be Charged At PLR I E At Present 13.25% with
Monthly Rests or At Any Such Rates of Interest As May Be Notified To Them By
The Bank from Time To Time. Terms of
Repayment: Cash Credit Limite( Hypothecation of Stock and Book Debts) Shall
Be Payable on Demand. Margin: 25% on
Stock 25% on Book Debts 25% (In Case of Lc and BG) Extent and Operation
of the charge: As per Agreement. |
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Short particulars
of the property charged |
·
Hypothecation
of Stock of Raw Material, Stock in Process and Finished Stocks, Chemicals,
Master Batches, Plastic Compounds, Roto Moulding Products, All other Products
Manufactured, Traded by Company and Receivables (Present and Future). ·
Hypothecation
of Entire Existing and Future Plant and Machinery and other Fixed Assets
including Land and Buildings (Present and Future). ·
Documents of
Title to goods and Hypothecation of Goods |
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Particulars of
the present modification |
Cash Credit
Facilities Enhanced From Rs 15.800 Millions to 28.000 Millions. |
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 records 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.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
31 |
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 |
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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 |
|
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 |
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