MIRA
INFORM REPORT
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Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
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Name : |
PACKRAFT CONTAINER (INIDA) PRIVATE LIMITED |
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Registered
Office : |
184, Krishna |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
11.05.2001 |
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Com. Reg. No.: |
05-034674 |
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CIN No.: [Company Identification
No.] |
U74950HR2001PTC034674 |
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IEC No.: |
RTKP03157A |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RTKPO1628E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Packing Materials. |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 50500 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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
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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 : |
184, Krishna |
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Tel. No.: |
91-129-2440841 |
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Fax No.: |
91-129-2443437 |
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E-Mail : |
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Website : |
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Factory : |
Located at |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Pawan Vashishta |
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Designation : |
Director |
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Address : |
House No. 1136, Sector – 14, |
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Date of Birth/Age : |
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Date of Appointment : |
11.05.2001 |
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DIN : |
00135973 |
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Name : |
Mr. Vijay Kumar Vashishth |
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Designation : |
Director |
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Address : |
House No. 1136, Sector – 14, |
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Date of Birth/Age : |
04.02.1940 |
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Date of Appointment : |
11.05.2001 |
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DIN : |
00135626 |
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Name : |
Mr. Vikram Vashishta |
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Designation : |
Director |
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Address : |
House No. 1136, Sector – 14, |
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Date of Birth/Age : |
23.12.1972 |
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Date of Appointment : |
11.05.2001 |
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DIN : |
00135892 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Mr. Vikram Vashistha |
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774881 |
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Mr. Pawan Vashishta |
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211059 |
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Mr. Vijay Kumar Vashishta |
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14000 |
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Smt. Nirmala Devi |
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20 |
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Smt. Romila Khosla |
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20 |
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Smt. Saroj Bala |
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20 |
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Total |
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1,000,000 |
As on 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Packing Materials |
GENERAL INFORMATION
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Bankers : |
8 A, Nehru Ground, NIIT, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sumit Khanna Chartered Accountants |
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Address : |
606, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.000 |
7.500 |
7.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.632 |
3.081 |
2.825 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.632 |
10.581 |
10.325 |
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LOAN FUNDS |
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1] Secured Loans |
15.911 |
15.184 |
15.554 |
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2] Unsecured Loans |
7.436 |
4.882 |
5.317 |
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TOTAL BORROWING |
23.347 |
20.066 |
20.871 |
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DEFERRED TAX LIABILITIES |
3.785 |
3.398 |
2.781 |
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TOTAL |
39.764 |
34.045 |
33.977 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
40.506 |
39.815 |
35.478 |
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Capital work-in-progress |
0.000 |
0.000 |
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 |
3.217
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2.479 |
5.003 |
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Sundry Debtors |
6.099
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5.422 |
4.308 |
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Cash & Bank Balances |
0.578
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0.358 |
0.962 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
4.814
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3.291 |
3.573 |
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Total
Current Assets |
14.708
|
11.550 |
13.846 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
10.854
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12.601 |
11.728 |
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Other Current Liabilities |
0.854
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0.568 |
0.486 |
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Provisions |
3.742
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4.151 |
3.133 |
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Total
Current Liabilities |
15.450
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17.320 |
15.347 |
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Net Current Assets |
(0.742)
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(5.770) |
(1.501) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
39.764 |
34.045 |
33.977 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.07
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3.53 |
3.51 |
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Current Ratio (Current Asset/Current Liability) |
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0.95
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0.67 |
0.90 |
LOCAL AGENCY FURTHER INFORMATION
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Corporate
identity number (CIN) Foreign company registration number |
U74950HR2001PTC034674 |
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Name of the
Company |
PACKRAFT
CONTAINER INDIA PRIVATE LIMITED |
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Address |
184, Sector – 25,
Krishna Nagar, |
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This form is for |
Creation of
Charge |
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Type of Charge |
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Particulars of
the charge holder |
Small Industries Development
Bank of India, Videocon Tower, Ground Floor, E-1, Rani Jhansi Road,
Jhandewalan Extension, New Delhi – 110055, Delhi, India Email : manojp@sidbi.in |
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Nature of
instrument creating charge |
Agreement for
term loan limit cum hypothecation dated 17.03.2011. Declaration and
undertaking dated 17.03.2011. |
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Date of
instrument Creating the charge |
17.03.2011 |
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Amount secured by
the charge |
RS.4.500 millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
- Rate of interest @11.5% p.a. with monthly rests on the principal amount of
loan outstanding from time to time. Terms of Repayment
- The loan is to be repaid in 48 monthly installments of Rs.0.094 million
each after a moratorium of 12 months from the date of first disbursement. Margin - Nil Extent and
Operation of the charge - Extension by way of first charge on immovable properties
both present and future situated at Plot No.184, Krishna Nagar Industrial
Area, Opp. Sector 25, Ballabhgarh, Faridabad and First charge on all the
assets created out of the present term loan. |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Extension by way
of first charge on immovable properties both present and future situated at
Plot No.184, Krishna Nagar Industrial Area, Opp. Sector 25, Ballabhgarh, |
FIXED ASSETS :
- Land
- Building
- Plant and
Machinery
- Car
- Fax Machine
- Air
Conditioner
- Computer
- Electrical
Installation
- Generator
- Mobile Phone
- EPABX
- Office Equipment
- Peger
- Scale And Measurement
- Scooter
- Cycle
- Tools and Dies
- Water Cooler
- Fire Extinguisher
Profile :
As an effort to contribute
to the environment they live in and to meet their motto of providing the best
possible packaging solutions to their clients, PACKRAFT® manufactures
an entire new range of light weight, presentable,
environment-friendly products as its SAFEPACKTM range.
Coupled with SAFECORETM range that uses Paper Honeycomb Technology: manufactured at
their state-of-the-art plant at
The entire range is
made on latest technology specially designed to deliver outstanding quality in
production and international standards.
The versatility of
the new material can be adjudged from the fact that it can be used to safely
keep delicate products like Bone-china, Home appliances to Vehicles. This
material uses nature’s own engineering with inherent qualities of light weight,
high strength, application of recycled material, exemplary finish, durability,
and consistent performance.
- High Quality Corrugation Products.
- Angle-Boards for Edge Protection.
- Honeycomb for multitude of Applications.
- Mono-cartons made to Order.
- Pallets in various shapes, sizes and
strengths.
- Pallets with Re-usable Plastic Legs.
- Innovative Packaging Solutions.
- Ideas for Safe Transit.
- Customized and Ready-made Solutions.
No wonder some of
the reputed companies in diverse sectors have already endorsed the product by
becoming their client. It is time for them to take their call to gather all the
possible methods to save the green around them.
The industries of
the present age are getting responsible. They are more environment conscious
than ever before. They are supported by the Governments across nations and
problems like Global Pollution and Global Warming are being given some
serious thinking. With an estimated 120-150 million wooden pallets disposed in
landfills in
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 |
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|
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.63.24 |
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 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
1 |
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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 |
|
29 |
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.