MIRA
INFORM REPORT
|
Report Date : |
22.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ACCIN PACKAGING PRIVATE LIMITED |
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Registered
Office : |
406, The Sangita Plaza, 598, Marol Maroshi Road, Andheri (East), Mumbai-400059,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
27.02.2007 |
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Com. Reg. No.: |
11-168179 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 million |
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CIN No.: [Company Identification
No.] |
U22222MH2007PTC168179 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA32128F |
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PAN No.: [Permanent Account No.] |
AAGCA2392E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Packaging Material. |
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No. of Employees
: |
6 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. There appear huge
accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Rashika Rane |
|
Designation : |
Account Manager |
|
Date : |
18.08.2011 |
LOCATIONS
|
Registered Office : |
406, The Sangita Plaza, 598, Marol Maroshi Road, Andheri (East),
Mumbai-400059, Maharashtra, India |
|
Tel. No.: |
91-22-27600379 / 27600380 / 27600373 |
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Fax No.: |
91-22-27606476 |
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E-Mail : |
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Location : |
Owned |
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Warehouse : |
R-523, T. T. C. Industrial Estate, MIDC, Rabale, Navi Mumbai-400708,
Maharashtra, India |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Shehul Ramesh Sheth |
|
Designation : |
Director |
|
Address : |
603, 604, Building 309, Trikal Co-operative Housing Society, Pant
Nagar, Ghatkopar (East), Mumbai-400075, Maharashtra, India |
|
Date of Birth/Age : |
23.08.1977 |
|
Date of Appointment : |
27.02.2007 |
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DIN No : |
00330433 |
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|
Name : |
Mr. Bhagwan Pandurang Gaikwad |
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Designation : |
Director |
|
Address : |
D-303, Usha complex, Usha Nagar, Village Road, Bhandup (West),
Mumbai-400075, Maharashtra, India |
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Date of Birth/Age : |
15.06.1973 |
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Date of Appointment : |
27.02.2007 |
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DIN No : |
00384339 |
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Name : |
Mr. Vishesh Hemendra Parekh |
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Designation : |
Director |
|
Address : |
7, Row House, Swapana Lok Darshan Cooperative Housing Society, Military
Road, Marol, Andheri (East), Mumbai-400059, Maharashtra, India |
|
Date of Appointment : |
27.02.2007 |
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DIN No : |
01129862 |
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Name : |
Mr. Anilkumar Manikoth Koyott |
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Designation : |
Director |
|
Address : |
L/402, Usha Complex, Usha Nagar, Village Road, Bhandup (West),
Mumbai-400075, Maharashtra, India |
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Date of Birth/Age : |
05.12.1972 |
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Date of Appointment : |
27.02.2007 |
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DIN No : |
00384356 |
KEY EXECUTIVES
|
Name : |
Ms. Rashika Rane |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Shehul Sheth |
2500 |
|
Bhagwan Gaikwad |
2500 |
|
Vishesh Parekh |
2500 |
|
Anil Kumar Koyott |
2500 |
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|
|
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Total |
10000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Packaging Material. |
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Imports : |
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Products : |
·
Machinery |
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Countries : |
·
China |
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Terms : |
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Selling : |
Cash, Credit (30 days, 60 days) |
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Purchasing : |
Cash, Credit (30 days, 60 days) |
GENERAL INFORMATION
|
Suppliers : |
·
Bazaz Publication ·
D. Kothari and Associates ·
Design Elements ·
Global Vision ·
Himalayan Maritime Services Private Limited ·
Jai HR Management Consultancy Services ·
Kantilal N Shah ·
Keizen Tablet Tool ·
KNS Media ·
Keizen International ·
M. Sheth and Company ·
Pinkey Print ·
Rakesh Devangere ·
Rupali Koyale ·
Sunil Nair ·
TNT India Private Limited ·
Trans Air Express Private Limited |
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Customers : |
·
Others ·
Manufacturer ·
Accent Pharma ·
Alpa laboratories Limited ·
Apl Research Centre ·
Aurbindo Pharma Limited ·
BMT Biomach Technologies ·
Exon Enterprise ·
Fenoplast Limited (Unit III) ·
Gena Pharmaceuticals Limited. ·
Genpharma (Intl.) Private Limited. ·
Hezen Pharmaceuticals Limited ·
Jaiwin Remedies Private Limited ·
Johnson and Johnson Limited ·
Medchem International Limited. ·
Nectar Lifesciences Limited ·
Neptune Life Sciences Private Limited ·
Shanghai Jiangnan Pharmaceutical Company Limited ·
S. S. Enterprises ·
Strides Arcolab Limited ·
Zaneka Healthcare Private Limited |
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No. of Employees : |
6 (Approximately) |
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Bankers : |
·
Kotak Mahindra Bank, Andheri (East) Branch,
Mumbai, Maharashtra, India. |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. Shah and Company Chartered Accountant |
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Address : |
44/C, 2nd Floor, Motiwala Building, Proctor Road, Grant
Road (East), Mumbai-400007, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
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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 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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|
4] (Accumulated Losses) |
(1.302) |
(0.810) |
(0.006) |
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NETWORTH |
(1.202) |
(0.710) |
0.094 |
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LOAN FUNDS |
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
3.544 |
3.263 |
3.162 |
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TOTAL BORROWING |
3.544 |
3.263 |
3.162 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
2.342 |
2.553 |
3.256 |
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APPLICATION OF FUNDS |
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|
FIXED ASSETS [Net Block] |
0.030 |
0.037 |
0.055 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.395
|
0.377 |
1.415 |
|
|
Sundry Debtors |
1.574
|
1.316 |
1.322 |
|
|
Cash & Bank Balances |
0.761
|
1.193 |
0.387 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.350
|
0.258 |
0.506 |
|
Total
Current Assets |
3.080
|
3.144 |
3.630 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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|
Sundry Creditors |
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|
|
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Other Current Liabilities |
0.687
|
0.592 |
0.383 |
|
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Provisions |
0.088
|
0.046 |
0.059 |
|
Total
Current Liabilities |
0.775
|
0.638 |
0.442 |
|
|
Net Current Assets |
2.305
|
2.506 |
3.188 |
|
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|
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|
|
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MISCELLANEOUS EXPENSES |
0.007 |
0.010 |
0.013 |
|
|
|
|
|
|
|
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TOTAL |
2.342 |
2.553 |
3.256 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SALES |
|
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|
|
|
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|
Income |
1.855 |
6.640 |
2.239 |
|
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Other Income |
NA |
NA |
NA |
|
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TOTAL (A) |
NA |
NA |
NA |
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|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
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|
NA |
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Administrative Expenses |
|
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Advertising Expenses |
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|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(0.481) |
(0.768) |
0.111 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(0.481) |
(0.768) |
0.111 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.011 |
0.018 |
0.018 |
|
|
|
|
|
|
|
|
|
|
PRE – OPERATIVE
EXPENSESS WRITTEN OFF |
0.000 |
0.003 |
0.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(0.492) |
(0.789) |
0.090 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.001 |
0.015 |
0.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-I) (J) |
(0.493) |
(0.804) |
0.068 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.810) |
(0.006) |
(0.074) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1.303) |
(0.810) |
(0.006) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
[26.52]
|
[11.88] |
4.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[15.82]
|
[24.80] |
2.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
1.11 |
0.96 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
[3.59]
|
[5.49] |
38.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.97
|
4.93 |
8.21 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
During this year of operation the Company has achieved a total sales of Rs.
1.855 millions and net loss of Rs. 0.492 million as compared to sales of Rs.
6.640 millions and net loss of Rs. 0.804 million last year. There has been a
good sales turnover during the year of operations and the company could not
make a healthy Profit after Tax in the year of operations due to some
unforeseen expenditures. The directors are confident of posting a better result
in the future years.
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. 45.61 |
|
|
1 |
Rs. 75.32 |
|
Euro |
1 |
Rs. 65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
11 |
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.