MIRA
INFORM REPORT
|
Report Date : |
10.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
YOGESHWAR POLYMERS |
|
|
|
|
Registered
Office : |
172, Saijpur Gopalpur, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Year of
Establishment : |
1988 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.917 Millions [As on 31.03.2010] |
|
|
|
|
IEC No.: |
0888018177 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAFY1544R |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of PE Coated Paper. |
|
|
|
|
No. of Employees
: |
56 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba [46] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 39000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established partnership concern having Satisfactory track.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern 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.
INFORMATION PARTED BY
|
Name : |
Mr. Purshottam |
|
Designation : |
Account Executive |
|
Date : |
09.08.2011 |
LOCATIONS
|
Registered Office/ Factory : |
172, Saijpur Gopalpur, |
|
Tel. No.: |
91-79-65210224 / 25716339/ 25710446/ 25710224 |
|
Fax No.: |
91-79-25712810/ 26621893 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
PARTNERS
As on 31.03.2010
|
Name : |
Mr. Yogesh Kumar Agarwal |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Rajiv Bhaiya |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Jai Krishna Agarwal |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Hanskumar Agarwal |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mrs. Nita Rajiv Bhaiya |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Purshottam |
|
Designation : |
Account Executive |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of PE Coated Paper. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Cash / Credit [30 Days] |
|
|
|
|
Purchasing : |
L/C / Cash / Credit [30 Days] |
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
56 [Approximately] |
|
|
|
|
Bankers : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mahendra Jindal and Company Chartered Accountant |
CAPITAL STRUCTURE
As on 31.03.2010
|
Partner’s
Capital : |
|
|
Owned : |
Rs.9.917 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.9.917 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2011 |
|
|
|
|
|
|
Sales Turnover [Approximately] |
|
|
197.500 |
|
|
|
|
|
Expected Sales (2011-2012) : Rs.250.000 millions
The above information has been parted by Mr. Purshottam [Account Executive].
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or Registry
Records.
ABRIDGED BALANCE
SHEET
|
Particulars |
|
|
31.03.2010 |
|
|
|
|
|
|
|
|
Partner’s Share Capital |
|
|
9.917 |
|
|
|
|
|
|
|
|
NETWORTH |
|
|
9.917 |
|
|
|
|
|
|
|
|
Secured Loans |
|
|
20.870 |
|
|
|
|
|
|
|
|
Unsecured Loans |
|
|
6.220 |
|
|
|
|
|
|
|
|
TOTAL BORROWING |
|
|
27.090 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
37.007 |
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
10.515 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.013 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS
& ADVANCES |
|
|
|
|
|
|
|
|
|
|
|
Inventories |
|
|
15.801 |
|
|
|
|
|
|
|
|
Sundry Debtors |
|
|
29.305 |
|
|
|
|
|
|
|
|
Cash & Bank Balances |
|
|
0.904 |
|
|
|
|
|
|
|
|
Loans & Advances |
|
|
0.851 |
|
|
|
|
|
|
|
|
Total
Current Assets |
|
|
46.861 |
|
|
|
|
|
|
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
|
|
|
|
Sundry Creditors |
|
|
17.931 |
|
|
|
|
|
|
|
|
Other Current Liabilities and Provisions |
|
|
2.451 |
|
|
|
|
|
|
|
|
Total
Current Liabilities |
|
|
20.382 |
|
|
|
|
|
|
|
|
NET CURRENT ASSETS |
|
|
26.479 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
37.007 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
158.849 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL (A) |
|
|
158.849 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
[2.918] |
|
|
|
Raw material Consumed |
|
|
105.010 |
|
|
|
Printing Ink Consumed |
|
|
12.489 |
|
|
|
Carting and Freight |
|
|
6.803 |
|
|
|
Packing material Consumed |
|
|
3.595 |
|
|
|
Power and Fuel |
|
|
3.038 |
|
|
|
Rent Rate and Taxes |
|
|
0.909 |
|
|
|
Wages, salaries and others |
|
|
5.264 |
|
|
|
Repairs and maintenance |
|
|
0.584 |
|
|
|
Insurance Expenses |
|
|
0.223 |
|
|
|
Excise duty |
|
|
6.081 |
|
|
|
Spares and stores |
|
|
1.955 |
|
|
|
Labour Charges |
|
|
3.427 |
|
|
|
Motor car running and maintenance expenses |
|
|
0.328 |
|
|
|
Two Wheeler running and maintenance expenses |
|
|
0.065 |
|
|
|
Legal and Professional Expenses |
|
|
0.633 |
|
|
|
Printing and Stationery Expenses |
|
|
0.076 |
|
|
|
Bank charges and commission |
|
|
0.182 |
|
|
|
Telephone and fax expenses |
|
|
0.251 |
|
|
|
Postage and courier expenses |
|
|
0.105 |
|
|
|
Factory and misc. expenses |
|
|
0.260 |
|
|
|
Sales promotion expenses |
|
|
0.146 |
|
|
|
Traveling expenses |
|
|
0.379 |
|
|
|
Audit Fees |
|
|
0.020 |
|
|
|
Charity and Donation |
|
|
0.026 |
|
|
|
Interest to partners |
|
|
0.735 |
|
|
|
Partners remuneration |
|
|
1.200 |
|
|
|
TOTAL (B) |
|
|
150.866 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
7.983 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
2.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
5.373 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
1.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
4.193 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
2.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
7.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
4.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.30 |
LOCAL AGENCY FURTHER INFORMATION
Trade References :
- Tata Tea
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.45.17 |
|
|
1 |
Rs.73.71 |
|
Euro |
1 |
Rs.64.25 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.