MIRA
INFORM REPORT
|
Report Date : |
07.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
UNIPACK PACKAGING PRIVATE LIMITED |
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Registered
Office : |
C-8/8289, Vasant Kunj, New Delhi-110070, Delhi |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
08.05.2001 |
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Com. Reg. No.: |
11-110736 |
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CIN No.: [Company Identification
No.] |
U74950DL2001PTC110736 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELU01897A |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of plastic molding components and insulation
tapes. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 210000 |
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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
|
Registered Office : |
C-8/8289, Vasant Kunj, New Delhi-110070, Delhi, India |
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E-Mail : |
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Website : |
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Factory : |
Plot No.9, Mahila Udyami Park, toy City Road, Greater Noida, (GB
Nagar), Noida, India |
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Tel. No.: |
91-120-2350896/ 97/ 98 |
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Fax No.: |
91-120-2350899 |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mrs. Rashmi Kedia |
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Designation : |
Director |
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Address : |
C-8/8289, Vasant Kunj, New Delhi-110070, Delhi, India |
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Date of Appointment : |
08.05.2001 |
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DIN No : |
00105816 |
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Name : |
Smt. Shakuntla Kedia |
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Designation : |
Director |
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Address : |
C-8/8289, Vasant Kunj, New Delhi-110070, Delhi, India |
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Date of Appointment : |
10.05.2005 |
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DIN No : |
01196038 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rashi Kedia |
|
605000 |
|
Alok Kedia |
|
620000 |
|
Techno Builders Private Limited, India |
|
30000 |
|
Om Prakash Kedia |
|
45000 |
|
Gopal Saraf (HUF) |
|
22500 |
|
Bimal Kumar Aggarwal |
|
60000 |
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Arvind Exports, India |
|
100000 |
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Lemcom Merchants Private Limited, India |
|
647500 |
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Gold Stone Financial Services Private Limited, India |
|
10000 |
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Marudhar Builders Private Limited, India |
|
5000 |
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Super Sadiq Enterprises Private Limited, India |
|
5000 |
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Magatronix Systems Private Limited, India |
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5000 |
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Millennium Agro Systems Private Limited, India |
|
20000 |
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Mangal Kalas Services Private Limited, India |
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10000 |
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Ranchor Electronics Private Limited, India |
|
10000 |
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Salasarji Infosoft Private Limited, India |
|
10000 |
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Bhavya Aluminium Private Limited, India |
|
10000 |
|
Sidh Housing Development Company Limited, India |
|
20000 |
|
Total |
|
2235000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
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Bodies corporate |
|
35.01 |
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Directors or relatives of directors |
|
56.82 |
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Other top fifty shareholders |
|
8.17 |
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Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of plastic molding components and insulation
tapes. |
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Cutting Capacity of Foam |
Meter |
NA |
2.000 |
-- |
|
Injection Moulding Capacity |
M T |
NA |
1200 |
-- |
GENERAL INFORMATION
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati Bapat
Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
·
ORIX Auto Infrastructure Services Limited, Plot
No.94, Marol Cooperative Industrial Estate, Andheri Kurla Road, Andheri
(East), Mumbai-400059, Maharashtra, India |
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Auditors : |
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Name : |
Wahi and Gupta Chartered Accountant |
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Address : |
Hotel Rex Building, (OBC Building), 5, Netaji Subhash Marg, Daryaganj,
New Delhi-110002, Delhi, India |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
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|
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2235000 |
Equity Shares |
Rs. 10/- each |
Rs. 22.350
millions |
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|
Note : (80000 shares of Rs. 10/- each Fully paid
Issued During the year at 90/- Rs. premium).
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
22.350 |
21.550 |
21.450 |
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2] Share Application Money |
5.475 |
2.825 |
2.175 |
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3] Reserves & Surplus |
26.128 |
16.848 |
14.524 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
53.953 |
41.223 |
38.149 |
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LOAN FUNDS |
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1] Secured Loans |
24.238 |
18.479 |
25.435 |
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2] Unsecured Loans |
72.742 |
64.615 |
55.221 |
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TOTAL BORROWING |
96.980 |
83.094 |
80.656 |
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DEFERRED TAX LIABILITIES |
2.439 |
2.322 |
2.514 |
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TOTAL |
153.372 |
126.639 |
121.319 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
61.438 |
58.971 |
65.897 |
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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 |
89.408
|
58.902 |
48.829 |
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Sundry Debtors |
93.739
|
78.597 |
49.745 |
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Cash & Bank Balances |
4.838
|
2.544 |
0.325 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
13.973
|
7.593 |
6.583 |
|
Total
Current Assets |
201.958
|
147.636 |
105.482 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Sundry Creditors |
103.027
|
75.009 |
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Other Current Liabilities |
5.192
|
3.993 |
49.895 |
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Provisions |
1.872
|
1.058 |
0.281 |
|
Total
Current Liabilities |
110.091
|
80.060 |
50.176 |
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Net Current Assets |
91.867
|
67.576 |
55.306 |
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MISCELLANEOUS EXPENSES |
0.067 |
0.092 |
0.116 |
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TOTAL |
153.372 |
126.639 |
121.319 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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TURNOVER |
391.413 |
299.613 |
253.623 |
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PROFIT BEFORE
TAX |
3.010 |
2.308 |
2.177 |
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IMPORTS |
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Raw Materials |
NA |
13.656 |
3.969 |
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TOTAL IMPORTS |
NA |
13.356 |
3.969 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.14
|
1.12 |
1.27 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.05 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.88
|
4.01 |
3.50 |
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Current Ratio (Current Asset/Current Liability) |
|
1.83
|
1.84 |
2.10 |
LOCAL AGENCY FURTHER INFORMATION
FIANANCIAL
During this year
the turnover of the Company increased from Rs. 299.613 millions to Rs. 391.413
millions, and the net profit also increased from Rs. 2.308 millions to Rs.3.010
millions.
FORM 8
|
Corporate
identity number of the company |
U74950DL2001PTC110736 |
|
Name of the
company |
UNIPACK
PACKAGING PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
C-8/8289, Vasant Kunj, New Delhi-110070, Delhi, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge
holder |
ORIX Auto Infrastructure Services Limited, Plot No.94, Marol
Cooperative Industrial Estate, Andheri Kurla Road, Andheri (East),
Mumbai-400059, Maharashtra, India |
|
Nature of
instrument creating charge |
As
per Hypothecation deed dated 20.09.2010 |
|
Date of
instrument Creating the charge |
20.09.2010 |
|
Amount secured by
the charge |
Rs. 0.327 million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 15.26% p.a. Terms of
repayment 22 EMI
of Rs. 16300 each and 1 EMI of Rs. 16000/- Cheque
Bouncing charges of Rs. 500 per Instrument Overdue
charges @ 36% p.a Foreclosure
charges @ 5% Margin 10%
only Extent and
operation of the charge Hypothecation
deed dated 20.09.2010 |
|
Short particulars
of the property charged (Including location of the property) |
Tata
ace BS-IV Engine
no- 275CNG16GZYSA0216 Chassis
no-MAT445311AVG50135 |
FIXED ASSETS
ü
Factory Land
ü
Factory Building
ü
Plant and Machinery
ü
Generator
ü
Electrical Installation
ü
Furniture and Fixture
ü
Office Equipments
ü
Computer
ü
Delivery Van
ü
Scooter
ü
Car
WEB SIDE DETAILS
PROFILE
Subject is establish in Greater Noida in the state of U.P., on January
2003 as manufacturer and processors of foam and Plastic Molded components for
OEM’s. It is certified as ISO 9001-2000 vide certificate no. 17533- QMS-2988
dt.9th February, 2004.
Subject is a manufacturer of plastic molding components and
insulation tapes with and without adhesive, as per the standards,
specifications and drawings of the customer. Products include PU, PE, XLPE,
EVA, PSP, PVC, reticulated foams, HIPS, polyester, aluminum sheets, EPDM,
chloroprene, nitrile rubber, felt insulations, combination components.
Market line is automobiles, electronic, air
conditioning and white good industries which has different applications in
insulation, heat and sound resistance, shock proofing, filtration, packing
gaskets, sealant and external packing for delicate goods.
The company has an advantage of Goodwill of its
Promoters and Group/Associate companies which are already in the similar
business for over a decade. It has a potential of more business from existing
customers who has a strong faith of commitment, service and quality. There
exists scope from industries who are importing these or similar type of
components from abroad at quite a high price. Perfect pack of EPE is already
started which has extra safety for delicate items, greater looks, and an
impression of quality for OEM manufacturers and for us good rates.
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.44.20 |
|
|
1 |
Rs.72.25 |
|
Euro |
1 |
Rs.63.09 |
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.