MIRA
INFORM REPORT
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Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
LILA POLYMERS
PRIVATE LIMITED |
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Registered Office : |
123, Mittal
Tower, 12th Floor, C Wing, 210, Nariman Point, Mumbai – 400 021,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
24.12.2002 |
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Com. Reg. No.: |
11-138388 |
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CIN No.: [Company
Identification No.] |
U24134MH2002PTC138388 |
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IEC No.: |
0303018011 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUML04277A |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business : |
Importer and
Exporter of Polymers, Chemicals, Petrochemicals, Plastics Items and related
products. |
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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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having satisfactory track. Trade relations are fair.
General financial position is satisfactory. Payments are usually correct and
as per commitments. The company can be considered normal for business
dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Jagdish R Tanna |
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Designation : |
Director |
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Date : |
03.11.2008 |
LOCATIONS
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Registered Office/Corporate Office : |
123, Mittal
Tower, 12th Floor, C Wing, 210, Nariman Point, Mumbai – 400 021,
Maharashtra, India |
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Tel. No.: |
91-22-56306541/
42/ 43/4083111 |
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Mobile No.: |
91-22-56306544/40831122 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Associate Offices: |
·
Singapore ·
Indonesia ·
Bangladesh ·
Korea |
DIRECTORS
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Name : |
Mr. Jagdish
Ranjit Tanna |
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Designation : |
Executive Director
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Address : |
11/ Neel Sagar,
Agkhan Road, Worli Sea Face, Mumbai-400018, Maharashtra, India |
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Date of Birth/Age : |
11.04.1969 |
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Qualification: |
Graduation |
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Experience: |
15 Years |
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Date of Appointment : |
24.12.2002 |
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Name : |
Ms. Reshma
Jagdish Tanna |
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Designation : |
Director |
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Address : |
11/ Neel Sagar,
Agkhan Road, Worli Sea Face, Mumbai-400018, Maharashtra, India |
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Date of Birth/Age : |
27.11.1970 |
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Qualification: |
Graduation |
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Experience : |
8 Years |
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Date of Appointment : |
24.12.2002 |
KEY EXECUTIVES
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Name : |
Ms. Tarana Doshi |
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Designation : |
Products in-charge |
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Email: |
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Name : |
Ms. Ashvitha S. Suvarna |
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Designation : |
in-charge of logistics |
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Email: |
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Name : |
Ms. Ragini Tanksali |
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Designation : |
Accounts and MIS
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Email: |
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Name : |
Mr. Methew |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As On 24.09.2005
|
Names of Shareholders |
|
No. of Shares |
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Jagdish Ranjit
Tanna |
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117000 |
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Reshma Jagdish
Tanna |
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63000 |
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Archanaa Vinay Birla |
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9000 |
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Total: |
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189000 |
Equity Share Break Up (Percentage of Total Equity)
(As On 29.07.2007)
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Category |
Percentage |
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Directors or Relatives of Directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer and
Exporter of Polymers, Chemicals, Petrochemicals, Plastics Items and related
products. |
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Products : |
Polymers ·
Polyethylene Low
Density Polyethylene (LDPE) Linear
Low Density Polyethylene (LLDPE) High
Density Polyethylene (HDPE) Raffia
Grade1 HMHDPE ·
Polypropylene Polypropylene
(PP) ·
Polyethylene Terephthalate
(PET) Bottle
Grade Fiber
Grade ·
Polyvinyl Chloride Polyvinyl
Chloride (PVC) ·
Styrenes General
Purpose Polystyrene (GPPS) High
Impact Polystyrene (HIPS) Acrylonitrile
Butadiene Styrene (ABS) Other Products Carbon
Black HDPE
PIPES Chemicals ·
Alcohols Methanol ·
Anhydrides Phthalic Anhydride ·
Chloralkali Chemicals Caustic Soda ·
Fibre Intermediates Caprolactam (CPL) Triethylene Glycol (TEG) Monoethylene Glycol (MEG) Diethylene Glycol (DEG) ·
Others Phosphoric acid (Food Grade
and Technical Grade) Paraffin Wax (Fully refined
and Semi refined) Hydrogen Peroxide Titanium Dioxide (Anatase and
Rutile) ·
General Commodities Finished Products PP Ropes Baler Twines ·
Metal Products Iron and Steel High Melting Scrap 1 (HMS 1) High Melting Scrap 2 (HMS 2) Steel billets |
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Exports : |
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Products : |
·
Polymers ·
Chemicals ·
Plastic based finished products ·
PP/HDPE bags ·
Rice, Wheat, Sugar, Coarse grains ·
Pepper, Ginger, Turmeric, Chillies, Spice seeds of all kinds ·
Tea, Coffee, Cocoa ·
Edible nuts & Processed foods, ·
wheat flour and crude drugs ·
Groundnuts, Sesame seed ·
Soya Bean meal ·
Rape seed meal ·
Groundnut extraction ·
Wheat bran ·
Rice bran |
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Countries : |
·
Europe ·
South Africa ·
Singapore ·
USA ·
Thailand ·
China ·
Greece ·
Israle ·
Spain |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Advance Payments |
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Purchasing : |
L/C, Site Documents |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
10 (In Office) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jatin G Solanki
and Associates Chartered
Accountants |
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Address : |
Plot no.2/59,
Gokul, R B Mehta Marg, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India
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Tel. No.: |
91-22-25107981 |
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Associates: |
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CAPITAL STRUCTURE
As on 31.03.2008
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 |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
7.500 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.980 |
8.464 |
6.218 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
20.480 |
9.464 |
7.218 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
1.876 |
0.000 |
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2] Unsecured Loans |
8.273 |
5.795 |
5.367 |
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TOTAL BORROWING |
8.273 |
7.671 |
5.367 |
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DEFERRED TAX LIABILITIES |
0.003 |
0.073 |
0.172 |
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TOTAL |
28.756 |
17.208 |
12.757 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.454 |
1.782 |
2.190 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
3.016 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
21.009
|
0.000
|
0.000 |
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Sundry Debtors |
27.855
|
4.532
|
10.085 |
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Cash & Bank Balances |
38.509
|
16.484
|
0.889 |
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Other Current Assets |
0.069
|
0.022
|
0.018 |
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Loans & Advances |
17.476
|
7.409
|
8.281 |
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Total
Current Assets |
104.918
|
28.447
|
19.273 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
77.622
|
13.027
|
11.729 |
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Provisions |
0.000
|
0.000
|
0.000 |
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Total
Current Liabilities |
77.622
|
13.027
|
11.729 |
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Net Current Assets |
27.296
|
15.420
|
7.544 |
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MISCELLANEOUS EXPENSES |
0.006 |
0.006 |
0.007 |
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TOTAL |
28.756 |
17.208 |
12.757 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
570.004 |
76.936 |
46.652 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
570.004 |
76.936 |
46.652 |
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Export Value |
NA |
9.472 |
NA |
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Profit/(Loss) Before Tax |
5.254 |
3.545 |
4.719 |
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Provision for Taxation |
1.738 |
1.299 |
2.018 |
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Profit/(Loss) After Tax |
3.516 |
2.246 |
2.701 |
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Expenditures : |
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Purchase |
556.729 |
65.216 |
30.711 |
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Indirect Expenses |
7.470 |
6.619 |
10.553 |
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Director’s Remuneration |
0.000 |
0.800 |
0.269 |
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Depreciation & Amortization |
0.551 |
0.756 |
0.400 |
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Total Expenditure |
564.750 |
73.391 |
41.933 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.62
|
2.92
|
5.78 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.92
|
4.61
|
10.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.93
|
11.73
|
19.28 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.26
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0.37
|
0.65 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.18
|
2.19
|
2.37 |
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Current Ratio (Current Asset/Current Liability) |
|
1.35
|
2.18
|
1.64 |
LOCAL AGENCY
FURTHER INFORMATION
Financial Result:
During the year the company has explained it’s operation. As a result of
this the turnover of the company stood at Rs. 546.314 Millions compare to last
year’s turnover of Rs. 76.936 Millions. Thus, there was a profit of Rs. 3.516
Millions during the year after tax.
Trade References:-
- Lalle Dry
Fruits, USA
- LMF Delro
Chemicals, Africa
- Pankti
International, Singapore
PERSONAL ASSETS OF
THE PROPRIETOR / PARTNERS/ DIRECTORS:
|
Name |
Description of the
Assets owned by them |
Amount (Rs, in Millions) |
Whether offered as
security |
|
Mr. Jagdish R Tanna |
|
30.000 10.000 |
YES NO |
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Mrs. Reshma J Tanna |
Residential Premises |
20.000 |
NO |
FINANCIAL ANALYSIS:
|
Recent summary financials (upto a period not more than two months old) |
31.03.2008 |
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|
Advance Taxes Paid |
Rs. 0.200 Million |
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Change in borrowings (from FY 2006-07 ……to FY 2007-08..) |
Rs. 2.478 Millions |
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Debtors Position (At last month end_ 30.09.2008 specify amount > 90 days) |
> 90 Days Nil < 90 Days Rs. 7.202 Millions |
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Creditors position (At last month end _ 30.09.2008 specify all suppliers not paid for more than 90 days) |
> 90 Days Nil < 90 Days Rs. 3.551 Millions |
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Stock Position (at last month end) 30.09.2008 |
Rs. 0.146 Million |
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Drawing Power |
Rs. 2.500 Millions (Against B/D) |
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Any other Material development |
Nil |
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Whether the critical ratios conforms to the bench mark stipulation |
Current Ratio |
1.25 |
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Debt-Equity Ratio |
2.00 :1 |
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DSCR |
1.50 |
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TOL / TNW |
4:1 |
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Promoter’s Contribution |
25% |
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REVIEW OF BANK
STATEMENTS FOR THE LAST SIX MONTHS
|
Cheque bounces |
Nil |
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Evidence of servicing existing debt obligations |
Payments through Bank – Import Payment |
|
Line Utilisation – any evidence of perennial overdrawing |
L/C – documents |
|
Evidence of statutory dues being paid on time |
Cheque Payment |
|
PF and employee related |
Nil |
|
Municipal and Corporation Taxes |
Paid through Society |
|
Last utility payment made (electricity) |
Till September 2008 |
ACTIVITY LEVELS AT
THE TIME OF VISIT:
|
Level of Activity (Description of Production / Delivery / Customers) |
No production. Only Import / Export |
ANALYSIS OF BALANCE SHEET
( Rs. In Millions)
|
|
2008-09 Projections |
2009-10 Projections |
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LIABILITIES |
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CURRENT LIABILITIES |
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01 Short – Term borrowings from banks [including bill purchased, discounted and excess borrowings placed on repayment basis] |
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(I) From applicant bank (Book debts) |
5.000 |
5.000 |
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(ii) From applicant Bank (Rediscounting) |
15.000 |
14.000 |
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(iii) (of which BP and BD) |
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Sub Total (A) |
20.000 |
19.000 |
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02 Unsecured Loans (From Directors and shareholders) |
0.000 |
0.000 |
|
03 Sundry creditors [Trade] |
82.500 |
67.000 |
|
04 Advance payments from customers / Deposits from
dealers |
0.000 |
0.000 |
|
05 Provision for tax [net of Tax paid] |
2.300 |
2.700 |
|
06 Dividend and Dividend Tax payable |
0.000 |
0.000 |
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07 other statutory liabilities [due within one year] |
2.076 |
1.800 |
|
08 Deposits / Installments of term loans / DPGs / debentures,
etc [due within one year] |
0.000 |
0.000 |
|
09 Other current liabilities and provisions [due within
one year] |
2.000 |
2.400 |
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Sub
– Total [B] |
88.876 |
73.900 |
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10
TOTAL CURRENT LIABILITIES [Total of 1 to 9] |
108.876 |
92.900 |
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TERM LIABILITIES |
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11 Debentures |
0.000 |
0.000 |
|
12 Preference Shares [Redeemable after 1 year] |
0.000 |
0.000 |
|
13 Term loans [excluding installments payable within
one year] |
0.000 |
0.000 |
|
14 Deferred Sales Tax / Deferred Loan Deferred Payment
Credit [Excluding installments due within one year] |
0.000 |
0.000 |
|
15 Term deposit [repayable after one year] |
0.000 |
0.000 |
|
16 other Term Liabilities |
9.000 |
9.500 |
|
17 TOTAL
TERM LIABILITIES [Total of 11 to 16] |
9.000 |
9.500 |
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18
TOTAL OUTSIDE LIABILITIES [10 + 17] |
117.876 |
102.400 |
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NET WORTH |
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19 Ordinary Share Capital |
2.000 |
2.000 |
|
Share Premium Account |
7.500 |
0.000 |
|
Additional Share Application |
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|
Preference Share ( Incl Premium) |
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|
20 General Reserve |
0.000 |
0.000 |
|
21 Debenture Redemption Reserve |
0.000 |
0.000 |
|
22 Other Reserve (excluding provisions) – subsidy |
0.000 |
0.000 |
|
23 Surplus (+) or deficit (-) in Profit and Loss Account |
17.274 |
23.474 |
|
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|
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24 Net Worth |
26.774 |
25.474 |
|
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|
|
25 TOTAL
LIABILITIES ( 18 + 24) |
144.650 |
127.874 |
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ASSETS |
|
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CURRENT
ASSETS |
|
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26 Cash and Bank Balance |
9.500 |
9.000 |
|
27 Investments [Other than long term investments] |
|
|
|
I) Government and other Trustee securities |
0.000 |
0.000 |
|
ii) Fixed Deposit with banks |
7.500 |
9.500 |
|
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|
|
|
28 i) Receivable other than deferred and exports (including, bills purchased and discounted by banks) |
82.500 |
39.000 |
|
ii) Export receivables |
34.000 |
30.000 |
|
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|
29 Installments of deferred receivables (due within one year) |
0.000 |
0.000 |
|
30 Inventory : |
|
|
|
I] Raw materials [Including stores and other items used in
the process of manufacture] |
0.000 |
0.000 |
|
Imported |
|
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|
Indigenous |
|
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|
II] Stock – in – process |
0.000 |
0.000 |
|
II] Finished Goods |
25.000 |
30.500 |
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|
31 Advances to suppliers of raw materials |
0.000 |
0.000 |
|
32 Advances payment of taxes |
2.300 |
2.700 |
|
33
Other current assets |
|
|
|
Deposits |
5.000 |
5.500 |
|
Advances Payment to others |
0.000 |
0.000 |
|
Loans to employees |
0.000 |
0.000 |
|
Pre-paid Expenses |
0.050 |
0.074 |
|
Deposits with Excise, Customers etc. |
0.000 |
0.000 |
|
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|
34
TOTAL CURRENT ASSETS (Total of 26 to 33) |
135.850 |
126.274 |
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FIXED ASSETS |
|
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|
35 Gross Block |
2.000 |
2.500 |
|
36 Depreciation to date |
0.700 |
0.900 |
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37
NET BLOCK ( 35- 36) |
1.300 |
1.600 |
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OTHER
NON- CURRENT ASSETS |
|
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38 Investments / book debts / advances/ deposits which are
not current assets |
|
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|
(i) (a) Investments in subsidiary |
0.000 |
0.000 |
|
(b) Loans to subsidiary |
0.000 |
0.000 |
|
(ii) Advances to Suppliers of capital goods and
contractors |
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39 Non-Consumable stores and spares |
0.000 |
0.000 |
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40 Other non-current assets (Deposits) (Including dues form
Directors) |
7.500 |
0.000 |
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41
TOTAL OTHER NON-CURRENT ASSETS (
Total of 38 to 40) |
7.500 |
0.000 |
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|
42 Intangible assets (Patents, goodwill) |
0.000 |
0.000 |
|
43 Total Assets (Total of 34.37.41 and 42) |
144.650 |
127.874 |
|
44
Tangible net worth ( 24 – 42) |
26.774 |
25.474 |
|
45 Net Working
Capital [(17+24) – (37+ 41|+ 42)] (tot tally with 34-10) |
26.974 |
33.374 |
|
46 Current Ratio (Item 34/10) |
1.25 |
1.36 |
|
47 Total Outside Liabilities/ Tangible Net Worth ( 18/44) |
4.40 |
4.02 |
|
48 Debt/ Equity Ratio ( 16/44) |
0.34 |
0.37 |
|
|
|
|
|
ADDITIONAL INFORMATION |
|
|
|
(A) Arears if depreciation |
|
|
|
(B) Contingent Liabilities: |
|
|
|
(i) Arrears of cumulative dividends |
0.000 |
0.000 |
|
(ii) Other Liabilities not provided for |
0.000 |
0.000 |
|
ASSETS |
144.650 |
127.874 |
|
LIABILITIES |
144.650 |
127.874 |
OPERATING STATEMENT
(Rs. In Millions)
|
|
2008-09 Projections |
2009-10 Projections |
|
1 Gross Sales |
705.000 |
850.000 |
|
2 Less Excise duty |
|
|
|
3 Net Sales ( 1-2) |
705.000 |
850.000 |
|
Of which |
|
|
|
(i) Deomestic Sales |
88.500 |
107.000 |
|
(ii) Highseas Salses |
130.000 |
157.000 |
|
(iii) Counter Trade |
486.500 |
585.000 |
|
(iV) Consultancy Income |
0.500 |
1.000 |
|
4 % age rise (+) or fall (-) in net sales as compared to previous yare |
29% |
21% |
|
5 Cost of Sales |
|
|
|
(i) Raw Materials ( including stores and other items used
in the process of manufacture) |
|
|
|
(a) Imported |
712.500 |
860.000 |
|
(b) Indigenous |
|
|
|
(ii) Other Spares |
|
|
|
(a) Imported |
0.000 |
0.000 |
|
(b) Indigenous |
0.000 |
0.000 |
|
|
|
|
|
(iii) Power and Fuel |
0.000 |
0.000 |
|
% age Net Sales |
0% |
0% |
|
(iv) Labour and Wages |
|
|
|
(v) Repairs and Maintenance |
0.000 |
0.000 |
|
|
0% |
0% |
|
|
|
|
|
(v) Other Direct Expenses |
0.000 |
0.000 |
|
|
0% |
0% |
|
(vi) Depreciation |
0.700 |
0.800 |
|
|
0% |
0% |
|
|
|
|
|
(Vii) Sub- Total (
I to vi) |
713.200 |
860.800 |
|
(Viii) Add : Opening Stocks – in – Process |
0.000 |
0.000 |
|
Sub
total |
713.200 |
860.800 |
|
(ix) Deduct : Closing Stock in process |
25.000 |
30.500 |
|
(x) Cost
of Production |
688.200 |
830.300 |
|
|
98% |
98% |
|
(xi) Add : Opening Stock of Finished goods |
21.245 |
25.000 |
|
Sub Total |
709.445 |
855.300 |
|
( xii) Deduct closing stock of finished goods |
25.000 |
30.500 |
|
(xiii) Sub – Total (
Total cost of sales) |
684.445 |
824.800 |
|
% of Cost of sales to Net Sales |
97% |
97% |
|
6 Selling, general and administrative expenses % to Net Sales |
12.200 |
15.000 |
|
7 Sub- Total ( 5 +
6) |
696.645 |
839.800 |
|
8 Operating Profit before interest ( 3-7) |
8.355 |
10.200 |
|
9 Bank Interest |
1.400 |
2.000 |
|
10 Operating Profit after interest (8-9) |
6.955 |
8.200 |
|
11 (i) Add other non- operating income |
|
|
|
(a) |
0.500 |
0.700 |
|
(b) |
0.000 |
0.000 |
|
Sub-Total (Income) |
0.500 |
0.700 |
|
|
|
|
|
(ii) Deduct other non-operating expenses |
|
|
|
(a) |
0.000 |
0.000 |
|
(b) |
0.000 |
0.000 |
|
Sub-Total (expenses) |
0.000 |
0.000 |
|
|
|
|
|
(iii) Net of other non-operating income/ expenses (Netof 11()i) and 11(ii)] |
0.500 |
0.700 |
|
12 Profit before
tax/loss |
7.455 |
8.900 |
|
|
1.06% |
1.05% |
|
13 Provision for taxes Deferred Taxation liability |
2.300 |
2.700 |
|
14 Net Profit /
Loss |
5.155 |
6.200 |
|
|
0.73% |
0.73% |
|
15 (a) Equity and Preference Dividend + Tax on division |
0.000 |
0.000 |
|
(b) Dividend Rate + Corporate Division Tax |
0.000 |
0.000 |
|
16 Retained profit
(14-15) |
5.155 |
6.200 |
|
17 Retained Profit/ Net Profit ( % age) |
100% |
100% |
COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
(Rs. In Millions)
|
|
2008-09 Projections |
2009-10 Projections |
|
A CURRENT ASSETS |
|
|
|
1 Raw Material (including stores and other items used in the process of manufacture) |
0.000 |
0.000 |
|
(a) Imported : Month’s consumption |
|
|
|
(b) Indigenous: Month’s consumption |
|
|
|
2 Other consumable spares, excluding those included in 1 above |
0.000 |
0.000 |
|
(a) Imported Month’s consumption |
|
|
|
(b) Indigenous: Month’s Consumption |
|
|
|
3 Stocks-in-process Month’s const of production: |
0.000 |
0.000 |
|
4 Finished goods Month’s cost of sales: |
25.000 |
30.500 |
|
|
|
|
|
5 Receivable other than export and deferred receivables (including bills purchased and discounting by bankers) Moths’ domestic sales: Excluding deferred payment sales: |
52.500 |
39.000 |
|
|
|
|
|
6 Export receivables (including bills purchased and discounted) Months’ export sales: |
34.000 |
30.000 |
|
7 Advances to supplier of raw materials and stores / spares, consumable and services |
0.000 |
0.000 |
|
8 Other current assets including cash and bank balance and deferred receivables due within one year (specify major items) |
24.350 |
26.774 |
|
|
|
|
|
9 TOTAL CURRENT
ASSETS (To agree with item 34 in Form III) |
135.850 |
126.274 |
|
|
|
|
|
B CURRENT
LIABILITIES (Other than bank borrowings for working capital) |
|
|
|
|
|
|
|
10 Creditors for purchase of raw materials, stores and spares and consumable spares Month’s puchase: |
82.500 |
67.000 |
|
|
|
|
|
11 Advances form customers |
0.000 |
0.000 |
|
|
|
|
|
12 creditors for expenses |
2.000 |
2.400 |
|
|
|
|
|
132 Other current liabilities (specify major items) Short Term borrowings, unsecured loans |
|
|
|
|
|
|
|
Short term borrowing form others |
0.000 |
0.000 |
|
Provision for taxation |
2.300 |
2.700 |
|
Deposits/ installments of terms loans/ DPGs/ debentures etc. (due within 1 year) |
0.000 |
0.000 |
|
Other current liabilities and Provisions (due within one year) (specify major items) |
2.076 |
1.800 |
|
|
|
|
|
Salary, Wages, Bonus payable |
0.000 |
0.000 |
|
TDS Payable |
0.000 |
0.000 |
|
Deffered Taxation Liability |
0.000 |
0.000 |
|
Outstanding liabilities of Expenses |
0.000 |
0.000 |
|
Interest accrued but not due |
0.000 |
0.000 |
|
Provision for gratuity / Leave encashment |
0.000 |
0.000 |
|
Misc. Liabilities |
0.000 |
0.000 |
|
Provision for custom duty |
0.000 |
0.000 |
|
14 TOTAL (To agree with sub total B-Form III) |
88.876 |
73.900 |
|
ACTUAL |
108.876 |
92.900 |
|
DIFFERENCE |
20.000 |
19.000 |
|
Difference is bank
Borrowings |
|
|
FUND FLOW STATEMENT
(Rs. In Millions)
|
|
2008-09 Projections |
2009-10 Projections |
|
1 SOURCES |
|
|
|
(a) Net Profit (after Tax) |
5.155 |
6.200 |
|
(b) Depreciation and Deferred Tax |
|
|
|
(c) Increase in capital and Premium / reserve |
1.000 |
|
|
(d) Increase in : |
|
|
|
(i) Secured Loan from Bank |
20.000 |
[1.000] |
|
(ii) Debenture |
|
|
|
(iii) Sales Tax Deferment |
|
|
|
(iv) Deposit from Distributors |
|
|
|
(iv) Unsecured Loans |
0.922 |
0.500 |
|
(e) Decrease in : |
|
|
|
(i) Fixed Assets |
-- |
-- |
|
(ii) Other Non-current assets |
-- |
-- |
|
(f) Others |
|
|
|
Issue of Equity Shares |
-- |
-- |
|
Issue of preference shares |
-- |
-- |
|
(g) TOTAL |
27.077 |
5.700 |
|
|
|
|
|
2 USES |
|
|
|
(A) Net Loss |
|
|
|
(b) Decrease in Term Liabilities (including public deposits) |
-- |
-- |
|
( c) Increase in : |
|
|
|
(i) Fixed Assets |
0.096 |
0.300 |
|
(ii) Othr Non- current assets |
|
|
|
(d) Dividend Payments +.Corporate Division Tax |
|
|
|
(e) Others – Decrease in Debentures |
|
|
|
(f) Investment in subsidiary Repayment of Loan Redemption of Preference Sahres |
|
|
|
TOTAL |
0.096 |
0.300 |
|
|
|
|
|
3 Long Term Surplus (+) / Defecit (-) ( 1-2) |
26.981 |
5.400 |
|
4 Increase / decrease in current assets (Details given below) |
65.635 |
[9.076] |
|
5 Increase / decrease in current liabilities than bank borrowings |
9.518 |
[14.976] |
|
6 Increase / decrease in working capital goods |
56.117 |
5.900 |
|
7 Net Surplus (+) / deficit (-) Difference of) |
[29.136] |
[0.500] |
|
8 Increase in borrowings |
|
|
|
|
|
|
|
Break-up (4) |
|
|
|
|
|
|
|
(i) Increase in Raw Materials |
|
|
|
(ii) Increase / Decrease in Stock- in Process |
|
|
|
(iii) Increase / Decrease in Finished goods |
3.755 |
5.500 |
|
(iv) Increase / Decrease in Receivabls |
|
|
|
(a) Domestic |
52.500 |
[13.500] |
|
(b) Export |
6.275 |
[4.000] |
|
(v) Increase / Decrease in stores and spares |
|
|
|
(vi) Increase / Decrease in other current assets |
3.105 |
2.924 |
|
Note: Increase/ Decrease under 4 to 8 as also under breakup of (4) should be indicated by (+) (-) |
65.635 |
[9.076] |
Bankers Charges
Report as per Registry
Name of the Company:
Lila Polymers Private Limited
Presented by: Canara
Bank, Mandvi Branch, Mumbai – 400 003, Maharashtra
|
1. Date and description of the instrument creating or evidencing the charge |
Common hypothecation agreement dated 07.02.2005 |
|
2. Amount secured by the charge /amount owing on security of the charge |
Rs. 15.000 millions |
|
3. Short Particular of the property charged. If the property acquired is subject to change date of acquisition of property should be given |
Hypothecation by way of first charge on all present and future.
a] stocks of goods such as raw materials, goods in process, finished and manufactured goods, stocks in trade, stores, spares, components, machinery, vehicles, furniture and fixtures and all other movable goods and properties of the Company lying at the Company’s factories, godown or wherever else or in transit or in the course of delivery to the company: and
b] all books debts, outstanding monies, bills receivable, claims, bills, contracts, securities, investments, cash, gold, silver, Jewellery, rights and assets, movable and other properties of the Company.
More particularly described in schedule 2 to common hypothecation agreement. |
|
4. Gist of the terms and conditions and extent and operation of the charge. |
The above assets are given as security to secured the following facilities granted by the Bank:
Nature of Facility Limit (Rs. in millions) Cash Credit 2.500 FLC DA/ DP 5.000 FLC DA (back to back) 5.000 PC/ FDB/ FBE 2.500 S/ L – FDB/ FBE (1.500) ------------- Total 15.000 ------------- Interest on C.C @ 3.4% above ongoing PLR with minimum of 11.05% p.a. with monthly rest, Interest on PC/ FDB/ FBE @ 88% p.a.
Margin : 25% |
|
5. Names, address and description of the persons entitled to charge |
Canara Bank Mandvi Branch, Sujeer House, 74/ 76, Kazi Sayed Street, Mumbai 400 003, Maharashtra, India |
|
6. Date and brief description of instrument modifying the charge |
NA |
|
7. Particular of modification specifying the terms and conditions or the extent or operation of the charge in which modification is made and the details of modification |
NA |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified
|
90243793 |
|
Corporate
identity number of the company |
U24134MH2002PTC138388 |
|
Name of the
company |
LILA POLUMERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
123 Mittal Tower,
C 12th Floor, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Type of charge |
Book debts Movable property Others |
|
Particular of
charge holder |
Canara Bank Mandvi Branch,
Sujeer house, 74/76 Kazi Sayed Street, Mumbai-400003, Maharashtra, India Email: |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
common hypothecation agreement (SCHA) dated 14.02.2007 |
|
Date of
instrument Creating the charge |
14.02.2007 |
|
Amount secured by
the charge |
Rs. 32.500 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest @15%p.a
or As per sanction letter or as specified by Bank from time to time Terms of
Repayment: On demand or as specified
by bank from time to time Margin: 50% on B/Ds, L/C
(Rs. 20.000 millions) 15%, L/C (Rs. 10.000 millions) 20% Extent and
Operation of the charge: The Credit
facilities increased from Rs. 15.000 millions to Rs. 32.500 millions. Security
by way of hypothecation of stocks, book debts etc. given earlier shall
continue to secure the enhanced limit. |
|
Short particulars
of the property charged |
Hypothecation by
way of 1st charge on all present and future: 1.
1.
Stocks of goods such as raw
materials, goods in process, finished and manufactured goods, stock in trade,
stores, spares, components, machinery, vehicles, furniture and fixtures and
all other movable goods and properties of the company lying at the company’s
factories, godown or wherever else or in transit or in the course of delivery
to the company and 2.
2.
All book debts, O/S monies,
bills receivables, claims, Etc. |
|
Particulars of
the present modification |
Now vide this
modification the various credit facilities granted by the Bank increased from
Rs. 15.000 millions to Rs. 32.500 millions in Annexure I to SCHA. Further the
security by way of hypothecation of stocks, book debts etc. given earlier
shall continue to secure the enhanced limit. |
Fixed Assets:
- Office Equipments
- Furniture and Fixtures
- Motor Car
- Air Conditioners
- Computers
- Telephone Systems
- Mobile
- Electric Installation
- Fax Machine
- Television
WEBSITE DETAILS ATTACHED:
History:
They are the dependable partner and a reliable source of market
intelligence, superior service, and enduring trust.
A dedicated Indenting House for
commodities trade they possess rich domain experience and intimate knowledge of
International and Local commodities markets. They fulfill the Import/Export
needs, provide consulting and marketing services, enable forward integration,
and create distribution channels and trading networks for the business.
Operating Globally, Lila Polymers connects Buyers with Sellers leveraging
a strong network of relationships and information sources. They create a
distinct advantage for the customers with timely advice, and guidance on market
selection / market entry timing.
They specialize in Polymers and Chemicals, metal products and exports of
finished plastic products - helping you procure, raw materials, capital /
industrial goods, machinery, industrial plants (more
products)
Above all, the specialty is
creating business value and lasting relationships with the Clients. (more
services)
Profile:
Subject was established in 1945 by Shri Liladhar Mulji
Vishram (Grandfather of Executive Director - Mr. Jagdish Tanna) as a commodity
/ merchant trading business specializing in agricultural produce. The business
offered services out of Mumbai, Cochin and Calicut and grew into a diversified
business group. However, their greatest
wealth has been the accumulated business knowledge of global trade - an
experience spanning three generations in business, the inculcated ethics and
the business acumen which have seen them survive and prosper through many
challenges.
They continue to grow, improve, and innovate
- offering customers timely advice and intelligent choices leveraging their
vast information network and domain experience.
Subject is a dependable partner and a reliable source of market
intelligence, superior service, and enduring trust. A dedicated Indenting House
for commodities trade they possess rich domain experience and intimate
knowledge of International and Local commodities markets. They fulfill their
Import/Export needs, provide consulting and marketing services, enable forward
integration, and create distribution channels and trading networks for
business.
Operating globally, subject connects Buyers with Sellers
leveraging a strong network of relationships and information sources. They
create a distinct advantage for their customers with timely advice, and
guidance on market selection / market entry timing. They specialize in Polymers and Chemicals, metal
products and exports of finished plastic products - helping you procure, raw
materials, capital / industrial goods, machinery, industrial plants (more
products) Above all, are their specialty
creating business value and lasting relationships with their Clients.
Their focused approach and dedicated service has earned
respect from an increasing clientele. In 2003 subject was the leading performer
in the industry, trading 200,000 tons of Polymers worth USD 122 million.
Subject combines domain expertise and best business practices
- with knowledge management and high ethical standards. They have set an
industry benchmark in service quality and value creation for their customers
who have patronized them with their trust and loyalty.
People
Mr.JagdishTanna
Executive Director - the third generation in business, has been at the
helm of affairs since last 14 years. A Commerce Graduate with a Diploma in
Marketing and Business Management, he has vast knowledge of International and
Domestic Import-Export business, country trade practices / laws.
Leveraging the cultivated knowledge base, rich domain expertise, and strong
business acumen, Mr. Tanna has developed a business practice with innovation
and professional services with a Global business perspective. The results are
evident. The organization has achieved the leading industry position in
Polymers trade and developed other business horizons such as Chemicals,
Petrochemicals, Metals, etc.
Ms.Tarana Doshi
In-charge of Chemicals, Steel Scrap, textile raw materials, PET chips,
Caprolactum , ABS Resins, PS, and new product development - she handles some of
the most promising initiatives on the business horizon of subject.
She brings international expertise in finance, trade and country business
practices with existing corporate knowledge base to deliver innovative products
and service with high value proposition deals-a
professional identity which clients associate with subject
Ms. Tarana is a Commerce Graduate from Mumbai and also has a B.S. in
Finance from Purdue Univ. - Indiana. She has previously
worked as a financial analyst with Credit Suisse First Boston, New York.
Ms. Ashvitha S.
Suvarna
In-charge of logistics - she coordinates all logistics transactions at
Lila Polymers, providing a vital services link through liaison with Clients and
other participants in the order fulfillment process.
Her industry experience lends her knowledge and skills to proactively
anticipate and troubleshoot bottlenecks / logistical delays, ensuring timely
order delivery and facilitation of associated formalities.
She previously worked at Reliance Industries Limited (Polymer Exports
Division) and is a Commerce Graduate.
Services
Subject’s services are all about being innovative and customer
focused - creating choices and alternative offerings, adding value with their
domain expertise, leveraging their connections and business network, and above
all standing by their commitments
Consulting
and Advisory Services
-
- Market
forecasts, market selection, market entry timing, brand promotion
Logistics
-
- Fulfillment
process based on transaction structure, monitoring shipments, documentation
facilitation
Sourcing / Vending
-
- identifying
buyers, agents, negotiating and structuring transactions
Market Development
- appointing distributors, channel development, sales
network bb
Activities
Subject is the largest companies in Korea such as Samsung
Corporation, Hyosung Corporation, Daelim Corporation. Also Thai Petrochemicals,
Thailand, Marubeni Plastics, Singapore and many other in U.S.A., Europe and the
Middle East. They are extremely active in indenting Polymers from these giants
to over two hundred satisfied actual users and trader importers of high repute.
Their client list reads heavy weights like Reliance, Mafatlal, Garware, Bajaj
Plastics, Sintex - Kalol, Tulsyan NEC Limited, Gilt Pack Limited, and many
highly reputed buyers.
Physical Import of Pulses from all over the world
- Indenting agent for Foreign Principals and foreign buyers of Indian
Products
- International Marketing consultant to foreign companies in the
field of Agriculture Produce and Polymers
- Local supplier of Imported Pulses to over three hundred customers
in various States including Millers, Wholesalers and Semi-Government
organisations
- Through their Trust "Liladhar Mulji Vishram Charitable
Trust" they are engaged in their own humble way in repaying their
debt to the Society by providing medical relief, cow-welfare, educational
help, contribution for religious purpose, specially helping the children,
women and the old-aged.
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.48.96 |
|
UK Pound |
1 |
Rs.80.26 |
|
Euro |
1 |
Rs.63.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
54 |
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 |
|