MIRA
INFORM REPORT
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Report Date : |
16.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
EXCEL PACK LIMITED |
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Registered Office : |
1004-05-06 Tower,6 Nehru Place, New Delhi – 110 019, Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.07.1999 |
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Com. Reg. No.: |
100494 |
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CIN No.: [Company
Identification No.] |
U21029DL1999PLC100494 |
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Legal Form : |
A closely held Public Limited Liability Company |
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Line of Business : |
Manufacturer of induction heat seals. |
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 24000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track.
Payments are reported as slow but correct. General financial position is
satisfactory. Trade relations are fair. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
1004-06, Devika Tower,6 Nehru Place, New Delhi – 110 019, Delhi, India |
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Tel. No.: |
91-11-41655310 |
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Mobile No.: |
91-9311881722 |
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Fax No.: |
91-11-41656337 |
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E-Mail : |
deepak2excelpack.in |
DIRECTORS
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Name : |
Mr. Rajnish Mehra |
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Designation : |
Director |
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Address : |
C-403, Defence Colony, New Delhi – 110 024, Delhi, India |
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Date of Birth/Age : |
21.05.1959 |
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Date of Appointment : |
01.07.1999 |
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E-Mail : |
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Name : |
Mrs. Mona Mehra |
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Designation : |
Director |
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Address : |
C-403, Defence Colony, New Delhi – 110 024, Delhi, India |
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Date of Birth/Age : |
31.01.1965 |
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Date of Appointment : |
01.07.0999 |
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E-Mail : |
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Name : |
Mrs. Amarjeet Kaur |
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Designation : |
Director |
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Address : |
Block E-2/5, Flat-16, Sector 15, Rohini, Delhi |
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Name : |
Mrs. Kiran Malhotra |
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Designation : |
Director |
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Address : |
G-29, Nizamuddin West, New Delhi |
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Name : |
Mr. Rakesh Mehra |
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Designation : |
Director |
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Address : |
24-Maker Tower ‘I’Cuffe Parade, Mumbai |
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Name : |
Mr. Rajesh Mehra |
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Designation : |
Director |
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Address : |
12-Rose Avenue, Amritsar |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As On 30.09.2004)
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Names of Shareholders |
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No. of Shares |
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Mrs.Mona Mehra |
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20010 |
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Mr. Santosh Mehra |
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10 |
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Mr. Rajesh Mehra |
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10 |
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Mr. K. C. Mehra |
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10 |
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Mr.Amarjit Kaur |
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10 |
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Mr. Rajnish Mehra |
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185010 |
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Mr. Kiran Malhotra |
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10 |
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Mr. Meenu Mehra |
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10 |
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Total |
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205080 |
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Name of Allottee |
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No
of Share |
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Mrs. Mona Mehra |
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250000 |
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Total |
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250000 |
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Directors or relatives of directors |
100 |
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Total |
100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of induction heat seals. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
100 |
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Bankers : |
Corporation Bank, D-64, Hauz Khas, New Delhi – 110 016, Delhi, India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Arun Malhotra and Associates |
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Address : |
G-29, Nizamuddin West, New Delhi – 110 013, Delhi, India |
CAPITAL STRUCTURE
(As On 29.09.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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305100 |
Equity Shares |
Rs.10/- each |
Rs.3.051 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3.051 |
2.051 |
2.051 |
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2] Share Application Money |
0.000 |
0.150 |
0.000 |
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3] Reserves & Surplus |
1.886 |
1.047 |
0.423 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4.937 |
3.248 |
2.474 |
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LOAN FUNDS |
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1] Secured Loans |
11.964 |
4.696 |
1.046 |
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2] Unsecured Loans |
14.341 |
12.417 |
1.458 |
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TOTAL BORROWING |
26.305 |
17.113 |
2.504 |
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DEFERRED TAX LIABILITIES |
0.311 |
0.311 |
0.188 |
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TOTAL |
31.553 |
20.672 |
5.166 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
22.452 |
9.378 |
2.203 |
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Capital work-in-progress |
0.000 |
0.832 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
5.516
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4.419 |
1.920 |
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Sundry Debtors |
6.818
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6.225 |
3.977 |
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Cash & Bank Balances |
1.980
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4.828 |
0.236 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
2.237
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3.241 |
0.301 |
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Total
Current Assets |
16.551
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18.713 |
6.434 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
7.283
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7.428 |
3.368 |
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Provisions |
0.175
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0.835 |
0.119 |
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Total
Current Liabilities |
7.458
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8.263 |
3.487 |
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Net Current Assets |
9.093
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10.450 |
2.947 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.012 |
0.016 |
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TOTAL |
31.553 |
20.672 |
5.166 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
33.655 |
31.799 |
23.010 |
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Other Income |
0.075 |
0.113 |
0.034 |
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Total Income |
33.730 |
31.912 |
23.044 |
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Profit/(Loss) Before Tax |
1.030 |
2.274 |
1.513 |
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Provision for Taxation |
0.192 |
0.949 |
0.235 |
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Profit/(Loss) After Tax |
0.838 |
1.325 |
1.278 |
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Expenditures : |
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Raw Material Consumed |
13.668 |
13.359 |
10.805 |
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Purchases made for re-sale |
0.111 |
0.531 |
0.000 |
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Consumption of stores and spares parts |
0.255 |
0.047 |
0.132 |
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Increase/(Decrease) in Finished Goods |
0.565 |
0.637 |
0.234 |
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Salaries, Wages, Bonus, etc. |
3.616 |
1.762 |
1.661 |
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Managerial Remuneration |
1.200 |
0.960 |
0.480 |
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Payment to Auditors |
0.030 |
0.020 |
0.020 |
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Interest |
2.426 |
0.688 |
0.241 |
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Insurance Expenses |
0.135 |
0.114 |
0.051 |
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Power & Fuel |
0.620 |
0.337 |
0.165 |
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Depreciation & Amortization |
0.794 |
0.410 |
0.213 |
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Other Expenditure |
9.280 |
10.773 |
7.529 |
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Total Expenditure |
32.700 |
29.638 |
21.531 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.48
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4.15 |
5.54 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.06
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7.15 |
6.57 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.64
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8.09 |
17.51 |
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Return on Investment (ROI) (PBT/Networth) |
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0.20
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0.70 |
0.60 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.83
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7.81 |
2.42 |
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Current Ratio (Current Asset/Current Liability) |
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2.21
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2.26 |
1.84 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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10018251 |
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Corporate identity
number of the company |
U21029DL1999PLC100494 |
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Name of the
company |
Excel Pack
Limited |
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Address of the
registered office or of the principal place of business in India of the company |
1004-05-06 Devika
Tower, 6th Nehru Place, New Delhi – 110 019, Delhi, India |
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Type of charge |
Immovable
Property Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Corporation Bank D-64, Hauz Khas,
New Delhi – 110 016, Delhi, India |
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Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Deeds Letter of
continuity for lease hold property in Plot No.8, Sector 4, At Industrial
Estate, Haridwar |
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Date of instrument
Creating the charge |
30.03.2007 |
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Amount secured by
the charge |
Rs.7.000 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 12.5%p.a, Running
Account Repayable on demand. Margin Money 30% on Stock, 40% on Book Debts and
25% on Import Letter of Credit Terms of
Repayment Running Account
Repayable Margin Margin money 30% on Stock, 40% on Book Debts and 25% on
Import Letter of Credit Extent and
Operation of the charge Hypothecation of
all the present and future Stock of goods consisting of Electronic items,
Which are now belong to and may hereafter, during the subsidence of the
borrower liability belong to the borrower and which are/ shall/ may be
brought in to or stored or be in / upon the borrowers premises as in schedule
B or elsewhere or in transit. Hypothecation of present as well as future Book
Debts of the Company. Mortga Plot No.8,
Sector -4, Integrated Industrial Estate, Bhel, Ranipur, Haridwar Others |
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Short particulars
of the property charged |
Property in Plot
No.8, Sector 4, At Industrial Estate, Haridwar |
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Particulars of
the present modification |
Hypothecation of all the present and future
Stock of goods consisting of Electronic items, Which are now belong to and
may hereafter, during the subsidence of the borrower liability belong to the
borrower and which are/ shall/ may be brought in to or stored or be in / upon
the borrowers premises as in schedule B or elsewhere or in transit.
Hypothecation of present as well as future Book Debts of the Company. Plot No.8, Sector
4, Integrated Industrial Estate, Bhel, Ranipur, Haridwar |
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 |
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US Dollar |
1 |
Rs.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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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 |
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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 |
|
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 |
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<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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