MIRA
INFORM REPORT
|
Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
RELIABLE INSUPACKS PRIVATE LIMITED |
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Registered
Office : |
201-A, IInd Floor, Vikas Complex, 37, Veer Savarkar Block, Shakarpur,
Delhi – 110092 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
10.07.1998 |
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Com. Reg. No.: |
55-094908 |
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CIN No.: [Company Identification
No.] |
U74999DL1998PTC094908 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELR05058E DELR09568G DELR08467E |
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PAN No.: [Permanent Account No.] |
AABCR5918G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Insulation and Packaging Materials |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
|
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 87000 |
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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 an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
201-A, IInd Floor, Vikas Complex, 37, Veer Savarkar Block, Shakarpur,
Delhi – 110092, India |
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Tel. No.: |
91-11-42445274/22451081 |
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E-Mail : |
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Head Office/ Factory : |
Greater Noida B-2/7, Site – B UPSIDC Industrial Area, Surajpur, Gautam
Budh Nagar - 201306, |
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Tel. No.: |
91-120-6518438/2560043 |
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Fax No.: |
91-120-2560043 |
DIRECTORS
As On 26.07.2010
|
Name : |
Mr. Madan Mohan Roy |
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Designation : |
Director |
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Address : |
C-1-3, Kendriya Vihar II, Sector – 82, Noida – 201301, |
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Date of Birth/Age : |
27.05.1961 |
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Date of Appointment : |
10.07.1998 |
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DIN No. : |
00104607 |
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Name : |
Mr. Sushil Kumar Roy |
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Designation : |
Director |
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Address : |
C-1-3, Kendriya Vihar II, Sector – 82, Noida – 201301, |
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Date of Birth/Age : |
15.02.1932 |
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Date of Appointment : |
20.08.2003 |
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DIN No. : |
01233580 |
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Name : |
Mr. Ratnamala Sushil Kumar Chatterjee |
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Designation : |
Director |
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Address : |
D1/13, Satya Marg, Chanakyaprui, |
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DIN No. : |
01230005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 26.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Roy Mohan Madan |
|
464523 |
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Chatterjee Ratanmala |
|
56046 |
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Roy Sudipta |
|
223018 |
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Roy Atashi |
|
6039 |
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Roy Kumar Sushil |
|
190000 |
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Roy Sushma |
|
40000 |
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Total |
|
979626 |
As On 26.07.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Insulation and Packaging Materials |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Arora Rajesh and Company Chartered Accountant |
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Address : |
F-42, Sector 20, Noida – 201301, |
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Pan No.: |
AAFFA3495A |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed, Called Up & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
979626 |
Equity Shares |
Rs. 10/- each |
Rs. 9.796
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
9.796 |
9.796 |
8.996 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.985 |
9.168 |
6.744 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
21.781 |
18.964 |
15.740 |
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LOAN FUNDS |
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1] Secured Loans |
22.247 |
25.064 |
19.818 |
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2] Unsecured Loans |
7.932 |
2.921 |
5.129 |
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TOTAL BORROWING |
30.179 |
27.985 |
24.947 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
51.960 |
46.949 |
40.687 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
27.451 |
19.459 |
19.362 |
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Capital work-in-progress |
0.000 |
6.134 |
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 |
12.360
|
11.309 |
13.741 |
|
|
Sundry Debtors |
24.934
|
17.564 |
16.381 |
|
|
Cash & Bank Balances |
0.870
|
0.641 |
0.673 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
7.626
|
5.049 |
3.658 |
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Total
Current Assets |
45.790
|
34.563 |
34.453 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
19.382
|
11.942 |
11.574 |
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Other Current Liabilities |
1.397
|
0.755 |
1.180 |
|
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Provisions |
0.514
|
0.535 |
0.413 |
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Total
Current Liabilities |
21.293
|
13.232 |
13.167 |
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Net Current Assets |
24.497
|
21.331 |
21.286 |
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MISCELLANEOUS EXPENSES |
0.012 |
0.025 |
0.039 |
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TOTAL |
51.960 |
46.949 |
40.687 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
113.402 |
91.096 |
75.130 |
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Other Income |
0.059 |
0.029 |
0.000 |
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TOTAL (A) |
113.461 |
91.125 |
75.130 |
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Less |
EXPENSES |
|
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Consumption of materials |
75.631 |
57.314 |
50.678 |
|
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Employees Remuneration and Benefits |
6.750 |
4.677 |
2.966 |
|
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|
Other expenses of manufacture, administration, selling and
distribution |
22.610 |
19.266 |
15.022 |
|
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|
Preliminary exp. w/off |
0.013 |
0.013 |
0.013 |
|
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|
Accretion / Decretion in stocks |
(1.025) |
2.372 |
0.308 |
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TOTAL (B) |
103.979 |
83.642 |
68.987 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.482 |
7.483 |
6.143 |
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Less |
FINANCIAL
EXPENSES (D) |
2.882 |
3.291 |
2.901 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.600 |
4.192 |
3.242 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.268 |
2.432 |
2.127 |
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PROFIT BEFORE TAX
(E-F) (G) |
3.332 |
1.760 |
1.115 |
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Less |
TAX (I) |
0.515 |
0.536 |
0.327 |
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PROFIT AFTER TAX
(G-I) (J) |
2.817 |
1.224 |
0.788 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.968 |
6.744 |
NA |
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BALANCE CARRIED
TO THE B/S |
10.785 |
7.968 |
NA |
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Earnings Per
Share (Rs.) |
2.88 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.48
|
1.34 |
1.05 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.94
|
1.93 |
1.48 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.55
|
3.26 |
2.07 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.09 |
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.36
|
2.17 |
2.42 |
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Current Ratio (Current Asset/Current Liability) |
|
2.15
|
2.61 |
2.62 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from 166, Aggarwal
Chamber – III, 26, Veer Savarkar Block, Shakarpur, Delhi – 110092, India to the
present address w.e.f 22.09.2008
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This form is for |
Creation of
charge |
||||||
|
Corporate
identity number of the company |
U74999DL1998PTC094908 |
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Name of the
company |
RELIABLE
INSUPACKS PRIVATE LIMITED |
||||||
|
Address of the registered
office or of the principal place of
business in |
201-A, IInd
Floor, Vikas Complex 37, Veer Savarkar Block, Shakarpur, Delhi – 110092,
India |
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|
Type of charge |
Movable Property Plant and
machinery |
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Particular of charge
holder |
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Nature of description
of the instrument creating or modifying the charge |
Agreement of Term
Loan Doc-5 Dated 27.12.2008 Ltr-22 For
Extension Of Equitable Mortgage Of Property For Fresh Term Loan Facility
Dated 27.12.2008 |
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Date of
instrument Creating the charge |
27.12.2008 |
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Amount secured by
the charge |
Rs. 3.850
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- The Rate Of Interest Shall Be Charged At Plr (Present Plr Of The Bank Is
13.25% P.A.) With Mothly Rests, Subject To Changes On Plr/ Spread Announced
By The Bank And Subject To Changes By Rbi From Time To Time. Terms of
Repayment - Re-Payable In 60 Equal Monthly Installment Moratorium Three
Months. Margin - 25.00%
Of Capital Cost. Extent and
Operation of the Charge - As Per The Agreement |
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Short particulars
of the property charged |
Hypothecation Of
Plant And Machinery Valued Rs.6.008 millions. The Machine
Includes Fluidized Bed Drier And Material Conveying System, Automatic Shape
Moulding Machine With Vacuum. Collateral
Security Provided By Equitable Mortgage Of |
Fixed Assets
- Land
- Plant and machinery
- Shed and building
- Furniture and fixtures
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.93 |
|
Euro |
1 |
Rs.63.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.