MIRA
INFORM REPORT
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Report Date : |
11.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
OMNI PLASTICS PRIVATE LIMITED |
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Registered Office : |
202, Vardhan Building, Punjabi Bagh West, New Delhi – 110 026 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.09.1989 |
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Com. Reg. No.: |
55-37741 |
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CIN No.: [Company
Identification No.] |
U74899DL1989PTC037741 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELO02229D / DELO02105F |
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PAN No.: [Permanent
Account No.] |
AAACO0112C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Polyester Packing and Printing cum
Lamination |
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 21000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Payments are
reported as slow but correct. The company can be considered for small to mediocre business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
202, Vardhan Building, Punjabi Bagh West, New Delhi – 110 026, India |
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E-Mail : |
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Website : |
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Factory : |
Plot No. 2, Road No. 2, Mundka Udyog
Vihar, New Delhi, Delhi - 110 041, India |
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Tel. No.: |
91-11- 28342601 / 28342602 |
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Fax No.: |
91-11- 28344842 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Harish Singla |
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Designation : |
Chairman |
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Address : |
1/52, Punjabi Bagh, New Delhi, India |
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Date of Birth/Age : |
25.09.1947 |
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Date of Appointment : |
22.09.1999 |
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Name : |
Mr. Ankur Singla |
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Designation : |
Director |
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Address : |
1/52, Punjabi Bagh, New Delhi, India |
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Date of Birth/Age : |
21.12.1977 |
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Date of Appointment : |
22.09.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
No. of Shares |
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Harish Singla |
235000 |
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Ankur Singla |
15000 |
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Total |
250000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Polyester Packing and Printing cum
Lamination |
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Products : |
· Co Extruded Film · Advanced Plastic Films · Advance Laminates · High Quality Laminates · High Speed Ink Jet Coding of the Film ·
Premium Rotogravure Printed Mono-Cartons |
GENERAL
INFORMATION
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Suppliers : |
·
Paradise Plastopack Private Limited ·
Shreeraj Roto India Limited ·
Micro Ink Limited ·
Flex Industries Limited ·
BST Sayona Automation Private Limited |
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Customers : |
·
SKB Food Products Private Limited ·
Neeraj Flavour and Plantation Private Limited ·
Mumtaz Tea State Private Limited ·
Supreme Agrofoods Private Limited ·
Eastern Condiments Limited ·
Britannia Industries Limited ·
Panchvati Prayogshala Rasmola ·
H.L.L. Ice cream Division ·
Shree Lal Mahal ·
L.T. Overseas Limited Daawat Basmati ·
Supreme Agro Foods Limited ·
Mahaan Foods Limited ·
Neeraj Tea and Flavors Private Limited ·
Pradeep Surgical Dressings |
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No. of Employees : |
Around 40 |
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Bankers : |
Union Bank of India 36, Central Market, Punjabi Bagh, New Delhi – 110 026, India Union Bank of India Lajpat Nagar, New Delhi, India Citi Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Tarun Kumar Gupta and Associates Chartered Accountants |
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Address : |
B-207B, Derawal Nagar, Delhi – 110 009, India |
CAPITAL STRUCTURE
(As on 31.03.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 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 |
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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2.290 |
1.815 |
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3] Reserves & Surplus |
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0.020 |
0.020 |
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4] (Accumulated Losses) |
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(0.596) |
(0.734) |
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NETWORTH |
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4.214 |
3.601 |
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LOAN FUNDS |
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1] Secured Loans |
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8.537 |
8.129 |
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2] Unsecured Loans |
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8.394 |
6.273 |
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TOTAL BORROWING |
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16.931 |
14.402 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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21.145 |
18.003 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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13.384 |
10.029 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.227 |
2.541 |
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Sundry Debtors |
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5.406 |
6.137 |
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Cash & Bank Balances |
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0.260 |
0.106 |
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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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3.410 |
2.644 |
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Total
Current Assets |
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12.303 |
11.428 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.542 |
3.454 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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4.542 |
3.454 |
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Net Current Assets |
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7.761 |
7.974 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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21.145 |
18.003 |
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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 and Other Income |
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41.141 |
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Total Income |
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41.141 |
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Profit/(Loss) Before Tax |
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0.448 |
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Provision for Taxation |
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0.310 |
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Profit/(Loss) After Tax |
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0.138 |
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Total Expenditure |
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40.693 |
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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0.34 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.09 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.74 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.11 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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5.10 |
4.96 |
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Current Ratio (Current Asset/Current Liability) |
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2.71 |
3.31 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Name of the company |
OMNIPLAST PRIVATE LIMITED |
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Presented By |
Harish Chandra |
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1) Date and description of instrument creating the change |
Hypothecation
Agreement of goods and debts dated 02.03.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.3.500 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
fully paid and duly incurred Raw Material, Semi Finished goods and finished
goods of poly bags and poly rolls and book debt. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
R.O.I. @ 12.25%
p.a. or such other revised rate as may be prescribed by Bank from time to time
of margin 25% |
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5) Name and Address and description of the person entitled to the charge. |
Union Bank of
India, Punjabi Bagh, Delhi |
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6) Date and brief description of instrument modifying the charge |
Not Available |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Available |
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Corporate
identity number of the company |
U74899DL1989PTC037741 |
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Name of the
company |
OMNI PLASTICS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
202, Vardhan Building, Punjabi Bagh West, New Delhi – 110 026, India |
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This form is for |
Modification of
charge |
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Type of charge |
·
Immovable
property ·
Book debts ·
Others o
Stocks |
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Particular of
charge holder |
Union Bank of India 36, Central Market, Punjabi Bagh, New Delhi – 110 026, India |
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Nature of
instrument creating charge |
Hypothecation
Agreement of Goods and Debts SD-06 |
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Date of
instrument Creating the charge |
23.07.2007 |
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Amount secured by
the charge |
Rs.9.000 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest The rate of
interest shall be charged BPLR+0.25% per annum with monthly rests or such
other revised rate as may be prescribed by the bank from time to time
depending upon changes in the Prime Lending Rate of the Bank or the
directives of the Reserve Bank of India from time to time or the policy of
the Bank on such advances. Terms of
repayment Payable on demand
with interest thereon. Margin @ 25% Extent and
operation of the charge The above is to
secure Cash Credit Hypothecation of Stock + Book debts of Rs.9.000 millions.
The borrower hypothecates by way of first charge on all stocks of Paper, Ink,
Packing Material etc lying in borrower premises or lying at godowns or in
transit/ and or elsewhere belonging to the borrower. Also hypothecates all
present and future book debts / receivables / actionable claims, all Current
/ movable and fixed assets of the company. |
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Particulars of
the property charged |
1.
EM of
Factory Land and Building at Plot No. 2, Gali No. 2, Mundka, New Delhi owned
by Mr. Parduman Kumar 2.
Office Flat
No. 1/52, FF, West Punjabi Bagh, New Delhi owned by Mr. H C Singla 3.
Property No.
1919, MIE Bahadurgarh, Haryana owned by Sh. H C Singla 4.
Property No.
1920, MIE, Bahadurgarh, Haryana owned by Sh. Ankur Singla |
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Particulars of the
present modification |
Cash Credit
facility has been increased from Rs.5.000 millions to Rs.9.000 millions |
Web Details
Subject it began with the right knowledge,
sound technical know how, sensitivity to a changing environment and the needs
of the packaging industry. They have emerged as one of the best packaging
solution providers to the industry. They are reputed manufacturer and exporters
of high quality packaging solution products that include high quality flexible
packaging laminates, advanced Plastic Film, Rotogravure printed mono-cartons,
High speed ink jet coding of the film. They deliver freshness, convenience, and
security, for food, beverages, medicines and electronics.
They established ourselves in the year 1984 and since then we have been
constantly delivering quality products. They are dedicated to offer the clients
the best available price/quality ratio in all the packaging products and
professional services available. The professionals are well versed with
industrial knowledge to accomplish this task. It is the result of our efforts
that we have served some of the biggest names in the industry including- Britannia Industries Limited, Modern Food
Industries (I) Limited, Hindustan Lever Limited - Ice Cream Division, Harvest
Gold Bread, Haldiram - Calcutta, Shree Lal Mahal - Rice, Mother Dairy, Bonn
Foods, Supreme Agro Foods, Eastern Condiments, Supreme Foods.
They have also been acknowledged for providing constantly good quality of
Rotogravure printed laminates and flexible packaging materials.
Highlights
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Effective Packaging Solution
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Assured quality Flexible Packaging Materials processed on
state-of-the-art machines by trained professionals.
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Quality assured materials that come from years of experience in the
field of packaging
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Advanced Polymer Technology - Formulations that assure enhanced shelf
life requirements
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Inter process quality control done with precision- the assurance of
trouble free application, stems from high profile laboratory equipment and
testing machines.
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Manufacturing facilities include top of the line expert rotogravure
printers, high speed lamination machines. Post printing inspection system and
high speed precision slitters.
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Multiple configuration pouching lines
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Raw materials, Printing Inks, Adhesives, Solvents are sourced from
renowned companies.
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Pre-press processing / planning is handled by highly skilled
professionals
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Cylinder engraving / processing is done on top class German lines. job
proofing undertaken as a quick response (in 72 hours)
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Good quality ink handling systems coupled with precise shade matching is
the key to consistently good graphic reproduction job after job and job
re-runs.
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Premium quality roto printed / laminated duplex board mono cartons
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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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 |
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32 |
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 |
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>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 |
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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 |
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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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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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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