%20PRIVATE%20LIMITED%20-%20137863%2009-Apr-2011_files/image006.jpg){kind=small}
MIRA INFORM REPORT
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Report Date : |
09.04.2011 |
IDENTIFICATION DETAILS
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Name : |
UNITY FLEXI PACK (INDIA) PRIVATE LIMITED |
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Registered
Office : |
65, 2nd Link Street, Rajiv Gandhi Salai, Nehru Nagar,
Chennai-600041, Tamil Nadu |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
11.09.2009 |
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Com. Reg. No.: |
18-072890 |
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CIN No.: [Company Identification
No.] |
U21029TN2009PTC072890 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEU03993D |
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PAN No.: [Permanent Account No.] |
AABU1113E |
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Legal Form : |
Private limited liability company. |
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Line of Business
: |
Manufacturer of Printing Packing Materials. |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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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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Status : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to establish itself gradually. Trade relations
are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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 : |
65, 2nd Link Street, Rajiv Gandhi Salai, Nehru Nagar,
Chennai-600041, Tamil Nadu, India |
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Tel. No.: |
91-44-25540267 / 24540268 |
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Fax No.: |
91-44-24540268 |
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E-Mail : |
DIRECTORS
As On : 27.09.2010
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Name : |
Mr. R. Hari Krishnana |
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Designation : |
Director |
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Address : |
No.4/20 C, Kottivakkam Kuppam Beach Road, Valmiki Nagar,
Thiruvanmiyur, Chennai-600041, Tamil Nadu, India |
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Date of Birth/Age : |
10.09.1964 |
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Date of Appointment : |
11.09.2009 |
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DIN No : |
02582761 |
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Name : |
Mr. R. Dayalan |
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Designation : |
Director |
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Address : |
No.1, 1A/409, Kalathumettu Street, Kottivakkam, Chennai-600041, Tamil
Nadu, India |
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Date of Birth/Age : |
10.04.1969 |
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Date of Appointment : |
30.09.2009 |
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DIN No : |
02781497 |
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Name : |
Mr. R. Jegadesh |
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Designation : |
Director |
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Address : |
No.1/691, Thiruvanmiyur Nagar, 36, 56th Cross Street, Chennai-600041,
Tamil Nadu, India |
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Date of Birth/Age : |
28.05.1967 |
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Date of Appointment : |
30.09.2009 |
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DIN No : |
02781480 |
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Name : |
Mrs. H. Jayanthi |
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Designation : |
Director |
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Address : |
No.4/20 C, Kottivakkam Kuppam Beach Road, Valmiki Nagar,
Thiruvanmiyur, Chennai-600041, Tamil Nadu, India |
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Date of Birth/Age : |
14.01.1963 |
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Date of Appointment : |
30.09.2009 |
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DIN No : |
02871063 |
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Name : |
Mrs. D. Shanthi |
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Designation : |
Director |
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Address : |
No.1, 1A/409, Kalathumettu Street, Kottivakkam, Chennai-600041, Tamil
Nadu, India |
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Date of Birth/Age : |
16.01.1971 |
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Date of Appointment : |
11.09.2009 |
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DIN No : |
02754023 |
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Name : |
Mrs. J. Kanchana |
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Designation : |
Director |
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Address : |
No.1/691, Thiruvanmiyur Nagar, 36, 56th Cross Street,
Chennai-600041, Tamil Nadu, India |
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Date of Birth/Age : |
24.02.1976 |
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Date of Appointment : |
11.09.2009 |
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DIN No : |
02754033 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2010
|
Names of Shareholders |
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No. of Shares |
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R. Hari Krishnana |
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100000 |
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R. Dayalan |
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100000 |
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R. Jegadesh |
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75000 |
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H. Jayanthi |
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75000 |
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D. Shanthi |
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75000 |
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J. Kanchana |
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75000 |
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Total |
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500000 |
AS ON 27.09.2010
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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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 Printing Packing Materials. |
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Products : |
Printing Packing Materials. |
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 : |
S. N. Balasubramaniam Chartered Accountant |
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Address : |
12/16, 3rd Cross Street, Seethammal Extention, Alwarpet,
Chennai-600018, Tamil Nadu, India |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
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Share Application Money (Pending Allotment) |
|
Rs. 3.479 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
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|
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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5.000 |
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2] Share Application Money |
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3.479 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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(0.410) |
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NETWORTH |
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8.069 |
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LOAN FUNDS |
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1] Secured Loans |
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8.560 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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8.560 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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16.629 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8.207 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.163 |
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Sundry Debtors |
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3.858 |
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Cash & Bank Balances |
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0.142 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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3.601 |
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Total
Current Assets |
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11.764 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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3.491 |
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Other Current Liabilities |
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0.000 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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3.491 |
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Net Current Assets |
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8.273 |
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MISCELLANEOUS EXPENSES |
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0.149 |
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TOTAL |
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16.629 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
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|
31.03.2010 |
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SALES |
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Income |
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1.171 |
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Other
Income |
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|
0.000 |
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TOTAL |
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1.171 |
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Less |
EXPENSES |
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Cost of Production |
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0.965 |
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Administrative and Selling Expenses |
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0.395 |
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TOTAL |
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1.360 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
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(0.189) |
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Less |
FINANCIAL
EXPENSES |
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0.189 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.378 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
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0.032 |
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PROFIT BEFORE
TAX |
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(0.410) |
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Less |
TAX |
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0.000 |
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PROFIT AFTER TAX
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(0.410) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
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BALANCE CARRIED
TO THE B/S |
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(0.410) |
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Earnings Per
Share (Rs.) |
|
|
(0.82) |
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KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
PAT / Total Income |
(%) |
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(35.01) |
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Net Profit Margin (PBT/Sales) |
(%) |
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(35.01) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(2.05) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.05) |
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Debt Equity Ratio (Total Liability/Networth) |
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1.49 |
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Current Ratio (Current Asset/Current Liability) |
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3.37 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS
PERFORMANCE
The company has achieved a turnover of Rs. 1.171 millions and has incurred
loss of Rs. 0.410 millions during the period. The company started commercial
operation only during the last week of March, 2010 and it is doing extremely
well during the next financial year.
FORM 8
|
Corporate
identity number of the company |
U21029TN2009PTC072890 |
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Name of the
company |
Unity
Flexi Pack (India) Private Limited |
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Address of the
registered office or of the principal place of business in |
65, 2nd Link Street, Rajiv Gandhi Salai, Nehru Nagar,
Chennai-600041, Tamil Nadu, India |
|
This form is for |
Modification of charge |
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Type of charge |
|
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Particular of
charge holder |
Indian Overseas Bank, Thiruvanmiyur Branch, Lattice Bridge Road, Thiruvanmiyur,
Chennai-600041, Tamil Nadu, India |
|
Nature of
instrument creating charge |
Letter
of hypothecation for securing stocks, book debts and machinery. |
|
Date of
instrument Creating the charge |
20.09.2010 |
|
Amount secured by
the charge |
Rs. 15.595 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 11%
CC ( Base rate + 2.75%), 115 NEW TERM LOAN Terms of
repayment Cash
credit renewable every year Term
loan repayable in 36 Emi of Rs.0.017 million from October 2010 Margin Cash
Credit - 25% on stocks and 40% on book debts SSI
Term Loan- 40% SSI
Term Loan (Fresh)-45% Extent and
operation of the charge Total
limit of Rs.15.595 millions secured by stocks ,book debts and machinery.
Collaterally secured by factory land and building owned by M/s Yamuna Roto
Prints. |
|
Short particulars
of the property charged (Including location of the property) |
Total limit of Rs.15.595 millions secured by stocks ,book
debts and machinery. Collaterally secured by factory land and building owned
by M/s Yamuna Roto Prints. |
|
Charge
identification number of the charge to be modified |
10218850 |
|
Date of
instrument modifying the charge |
23.01.2010 |
|
Particulars of the
present modification |
Total
limit enhanced from Rs.9.500 millions to Rs.15.595 millions and secured by
stocks, book debts and machinery collaterally secured by factory land and
building owned by M/s Yamuna Roto Prints. Cash
Credit Rs.10.000 millions Term
Loan Rs. 5.000 millions New
Term Loan Rs.0.595 million |
FIXED ASSETS
ü Plant and
Machinery
ü Furniture and
Fittings
ü Electrical
Fittings
ü Computers and
Softwares
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 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.44.04 |
|
|
1 |
Rs.72.19 |
|
Euro |
1 |
Rs.63.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.