MIRA
INFORM REPORT
|
Report Date : |
06.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
WONDER POLYMERS PRIVATE LIMITED |
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Registered Office : |
211, Gupta Tower, Azadpur Commercial Complex, New Delhi – 110033 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.05.1986 |
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Com. Reg. No.: |
55-24159 |
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CIN No.: [Company
Identification No.] |
U74899DL1986PTC024159 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELW00142C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Various kinds of Adhesive Tapes, Self
Adhesive Tapes and Self Adhesive Gaskets. |
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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Maximum Credit Limit : |
USD 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered/ Branch Office/ Factory : |
211, Gupta Tower, Azadpur Commercial Complex, New Delhi – 110033,
India |
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Tel. No.: |
91-11-27681364/ 27682249/ 27682250/ 27855843 / 55172714 |
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Mobile : |
91-9811142693 |
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Fax No.: |
91-11-27676172/ 27857150 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Ashok Kumar Gupta |
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Designation : |
Director |
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Address : |
A – 20, Panchwati, Azadpur, Delhi – 110033, India |
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Date of Birth/Age : |
04.07.1961 |
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Date of Appointment : |
08.05.1986 |
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Name : |
Mr. Arun Kumar Gupta |
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Designation : |
Director |
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Address : |
A – 20, Panchwati, Azadpur, Delhi – 110033, India |
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Date of Birth/Age : |
30.04.1966 |
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Date of Appointment : |
07.05.1997 |
KEY EXECUTIVES
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Name : |
Ashish Jain and Associates |
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Designation : |
Company Secretary |
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Address : |
C – 32, Y – 3, Dilshad Garden, Delhi – 110095, India |
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Mobile : |
91-9873563999 |
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E - Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Jagdish Chander Gupta |
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100 |
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Mr. Ashok Kumar Gupta |
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4510 |
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Mr. Ajit Kumar Gupta |
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3610 |
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Mr. Arun Kumar Gupta |
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390 |
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Mr. Gunjan Gupta |
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1500 |
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Mr. Deepak Raj Sehgal |
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1000 |
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Mr. Ramesh Kumar Gupta |
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420 |
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Mrs. Annu Gupta |
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1400 |
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Mrs. Sonali Gupta |
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3000 |
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Mrs. Koyal Saini |
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1000 |
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Mr. Anil Kumar Singhal |
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1000 |
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Mrs. Sonu Singhal |
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1000 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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60.00 |
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Other top fifty shareholders |
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40.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Various kinds of Adhesive Tapes, Self Adhesive
Tapes and Self Adhesive Gaskets. |
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Products : |
·
Paper Tapes ·
Film ·
Foils ·
Foam ·
Cloth Tapes ·
Non Woven Tape ·
Adhesive Tapes |
GENERAL
INFORMATION
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Bankers : |
Darya Ganj, Delhi
– 110002, India
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Virendra K. Jain and Company Chartered Accountants |
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Address : |
3618 / 11, Sudarshan Market, Chawari Bazar, Delhi – 110006, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/-
each |
Rs.2.500
millions |
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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 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.500 |
2.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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1.727 |
1.536 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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4.227 |
4.036 |
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LOAN FUNDS |
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1] Secured Loans |
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14.103 |
11.542 |
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2] Unsecured Loans |
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9.561 |
6.914 |
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TOTAL BORROWING |
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23.664 |
18.456 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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27.891 |
22.492 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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7.202 |
5.341 |
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Capital work-in-progress |
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4.938 |
4.890 |
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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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8.205 |
10.263 |
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Sundry Debtors |
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17.664 |
10.607 |
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Cash & Bank Balances |
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0.527 |
0.150 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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2.899 |
1.585 |
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Total
Current Assets |
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29.295 |
22.605 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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13.161 |
10.164 |
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Provisions |
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0.460 |
0.246 |
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Total
Current Liabilities |
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13.621 |
10.410 |
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Net Current Assets |
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15.674 |
12.195 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.066 |
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Pre- Operative |
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0.077 |
0.000 |
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TOTAL |
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27.891 |
22.492 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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62.530 |
36.800 |
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Other Income |
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0.000 |
0.00 |
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Total Income |
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62.530 |
36.800 |
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Profit/(Loss) Before Tax |
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0.560 |
0.262 |
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Provision for Taxation |
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0.541 |
0.253 |
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Profit/(Loss) After Tax |
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0.019 |
0.009 |
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Import Value |
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NA |
0.210 |
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Expenditures : |
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Total Expenditure |
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51.970 |
36.538 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.03 |
0.02 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.90 |
0.71 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.53 |
0.93 |
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Return on Investment (ROI) (PBT/Networth) |
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0.13 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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8.82 |
2.57 |
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Current Ratio (Current Asset/Current Liability) |
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2.15 |
2.17 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The Registered Office of the company has been shifted from 3576, P.N.B.
Building, Netaji Subhash Marg, New Delhi – 110002, to the present address w.e.f.
14.02.2008
Form 8:
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Name of the
company |
WONDER POLYMERS
PRIVATE LIMITED |
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Presented By |
Punjab National
Bank |
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1) Date and description of instrument creating the change |
26.10.2005. Hypothecation
of goods and book debts to secure cash credit facility. Hypothecation of
current assets, hypothecation of movable assets forming part of axed block
assets. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.9.000 millions |
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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
stock of raw materials, stock in process, semi finished and finished goods
such as adhesive tapes, aluminum foils, chemicals , ink, and packing material
etc. Hypothecation of book debts, Hypothecation of current assets,
hypothecation of movable assets forming part of axed block assets. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest
12.75%pa. Margin 25%p.a. on stock and 40% in book debts |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank Darya Ganj, New
Delhi |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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Corporate
identity number (CIN) Foreign company registration number |
U74899DL1986PTC024159 |
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Name of the
Company |
WONDER POLYMERS PRIVATE LIMITED |
|
Address |
3576, P.N.B. Building, Netaji Subhash Marg, New Delhi – 110002, India |
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This form is for |
Modification of
Charges |
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Type of Charge |
Book Debts Movable Property
(not being pledge) |
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Particulars of
the charge holder |
Punjab National
Bank Darya Ganj, Delhi
– 110002, India E-Mail: goyalvinodkumar@gmail.com |
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Nature of
instrument creating charge |
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Amount secured by
the charge |
Rs.12.000
millions |
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Date of latest
modification prior to the present modification |
24.02.2007 |
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Brief of the principal
terms and conditions |
Rate of Interest: BPLR + 1.50% p a.
I.E. 13.75%p.a. Terms of
repayments On demand Margin Stock 25% Book Debts 40% Extent and
operation of the charge Full charge 100% Other Sub Limit of Book
debts Rs.5.000 millions |
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Description of the property charged indicating |
All types of stock book debts, current assets and fixed block assets. |
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Particular of the
present modification |
Limit enhanced
upto Rs.12.000 millions |
AS PER WEB DETAILS
COMPANY PROFILE:
A company engaged in manufacturing and marketing of a wide
range of self adhesive tapes for Electrical, Shoe, Leather, Air conditioning,
Refrigeration, Automobiles, thermal Insulation sectors and other special
application including printed tapes, precision die cut components, labels
custom made tapes.
The Factory is located at Delhi and Equipped with plant and machinery specially
made and designed to ensure production and supply of best quality products at
economical price and timely delivered.
The factory is equipped with latest testing laboratory and trained manpower to
ensure production of products matching specifications.
The company has countrywide marketing Net Work Direct and through dealers
backed by factory trained professionals.
Subject was incorporated in
the year 1981 and holds registrations/memberships/approvals of:
· Directorate
of Industries (00119/NL94)
· The
National Small Industries Corporation (W/18/Delhi 97)
· Telecom
Engineering Center
· Central
Excise
· Badli
Industrial Estate Association
· Atma (
Adhesive tape manufacturers Association of India)
· FDDI
· SGS
· Railways
- Northern Railway, Rail Coach Factory- Kapurthala
· IIP
· IFF
Coma - IFF Coma (Indian Footwear Components Manufacturers Association)
· Defence
- Directorate General Quality Assurance
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] 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.46.88 |
|
UK Pound |
1 |
Rs.82.97 |
|
Euro |
1 |
Rs.64.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational size
(10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|