MIRA
INFORM REPORT
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Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE BANGALORE PAPER AND PULP MILLS |
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Registered Office : |
57-A, 21st K M, Hosur Road, Bommasandra Industrial Area, Bangalore
– 562 158, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1982 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Filter Paper / Pads, Cloths, P. P. Felt,
Woven and Non Woven Materials 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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Maximum Credit Limit : |
USD 25000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed concern having satisfactory track. Proprietor is
reported as experienced and respectable businessman. Trade relations are
fair. Business is active. Payments are usually correct and as per
commitments. The concern can
be considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Roshan Ray |
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Designation : |
Marketing |
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Date : |
28.08.2008 |
LOCATIONS
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Registered Office / Factory : |
57-A, 21st K M, Hosur Road, Bommasandra Industrial Area,
Bangalore – 562 158, Karnataka, India |
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Tel. No.: |
91-80-27832260 |
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Mobile No.: |
91-9844297113 |
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Fax No.: |
91-80-27833261 |
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E-Mail : |
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Area : |
25000 Sq. ft. |
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Location : |
Owned |
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Branch Office : |
Princess Street, Kalbadevi, Mumbai – 400 002, Maharashtra, India |
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Area : |
1000 Sq. ft. |
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Location : |
Owned |
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Branch Office : |
Canning Street, Kolkata – 700 013, West Bengal, India |
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Area : |
1000 Sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. A K Ray |
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Designation : |
Proprietor |
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Age : |
55 Years |
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Qualification : |
B. Com |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Filter Paper / Pads, Cloths, P. P. Felt,
Woven and Non Woven Materials Products. |
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Products : |
v
Cellulose paper/pads v
Cotton paper/pads v
Sparkler filter paper v
Woven and Non-woven filter media v
Filter cloths v
Filter press p.p cloth and paper v
Furnace paper v
R and D laboratory quantitative filter paper v
Ash-less and acid free paper v
Litmus, ph and indicator paper v
Electroplating filter paper for plate filtration unit v
Paper for resin separation for paint factories |
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Exports : |
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Products : |
v Filter Papers |
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Countries : |
v
Europe v
Denmark v
Austraila v
Holland v Paris |
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Terms : |
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Selling : |
Credit ( 30days) |
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Purchasing : |
Credit ( 30 – 60 days) |
GENERAL
INFORMATION
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Suppliers : |
Sauda Textiles, Tirupur Siraj Textiles, Tirupur |
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Customers : |
v End Users v Others -
Corporates v Ranbaxy v Himalaya Drug Company,
Bangalore v Hindustan Anti
Biotics Limited |
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No. of Employees : |
Total : 20 (Office : 5, Factory : 5, Branch Office : 5) |
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Bankers : |
v Canara Bank Bommasandra, Bangalore, Karnataka, India v Bank of Baroda Bangalore, Karnataka, India |
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Facilities : |
[The concern do not enjoy facilities from its bankers] |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bhat Associates Chartered Accountants |
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Address : |
Bangalore, Karnataka, India |
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Memberships : |
v Filter
Association v KASSIA |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
6.000 |
6.000 |
5.000 |
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Export Value |
NA |
1.500 |
1.200 |
Expected Sales
(2008-09): Rs. 10.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Ranbaxy
v
Himalaya Drug Company – Bangalore
v
Hindustan Anti Biotics Limited
History
Subject founded in Mumbai as a sole trading concern subsequently concern
started manufacturing of Filter paper products in Bangalore.
As Per Website Details
Profile
Established in the year 1982, The
Bangalore Paper and Pulp Mills (BPPM) are the traditional suppliers and manufacturers of standardized
quality filter paper and pads.
Located in Bangalore, "The Garden City of India", the concern's paper
is durable, elegant, acid free, affordable and environment friendly. It does
not support any kind of alteration or forgery. The owners of BPPM, apart from
being the exporters of quality paper products, belong to the traditional family
business of paper manufacturers.
Filter paper made by BPPM is manufactured by using tried and tested modern and
traditional methods. The papers are made from 100% wood -free recycled natural
fibres, which is biodegradable. BPPM manufacturing turns waste scraps to cotton
fabrics, and waste paper and other plant fibres into exquisite sheets of paper.
Hence for manufacturing this paper, neither any tree is cut nor are any toxic
chemicals used. With regards to strength and durability, it is unmatched to any
other filter paper.
Milestones
1976- The concern was founded in Mumbai as a trading concern for
handmade paper and filter paper
1982- The concern started manufacturing activities of filter paper in
Bangalore
1995- Research into wet and dry filtration simultaneously
2004- Full fledged manufacturing and specialization in filter
paper/pads, cloths, p.p felt, woven and non woven
material
2006- Research and development into HEPA and ULPA filters with the
latest technology.
Today BPPM is a leading manufacturer of filter paper of various grades
and sizes in India with strong customer support and feedback
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 concern is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
The 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.
The 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
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Indian Rupees |
|
US Dollar |
1 |
Rs. 46.63 |
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UK Pound |
1 |
Rs. 83.76 |
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Euro |
1 |
Rs. 66.49 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
NO |
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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 |
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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48 |
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
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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 |
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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/normal. |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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