1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ORANGE AQUA POLY PRODUCTS PRIVATE LIMITED |
Principal Name 1 |
Mr. Barath Vasan |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Brinda Vasan |
|
|
|
Registration # |
18-069036 |
|
Street Address |
181, North Usman Road, T Nagar, Chennai – 600017, Tamil Nadu, India |
||
|
Established Date |
27.08.2008 |
SIC Code |
-- |
|
Telephone# |
91-44-28142529 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-28141918 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.30,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Director or Relative of Directors – 100% |
Banking |
Bank of Baroda |
|
Public Limited Corp. |
NO |
Business Period |
3 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
No |
Rating |
B (29) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
23,219,000 |
Current Liabilities |
7,084,000 |
|
Inventories |
15,749,000 |
Long-term Liabilities |
67,656,000
|
|
Fixed Assets |
67,922,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
74,740,000 |
|
Invest& other Assets |
1,201,000 |
Retained Earnings |
1,351,000 |
|
|
|
Net Worth |
33,351,000 |
|
Total Assets |
108,091,000 |
Total Liab. & Equity |
108,091,000 |
|
Total Assets (Previous Year) |
100,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
48,430,000 |
Net Profit |
1,351,000 |
|
Sales(Previous yr) |
0,000 |
Net Profit(Prev.yr) |
0,000 |
MIRA
INFORM REPORT
|
Report Date : |
16.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
ORANGE AQUA POLY PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
181, North Usman Road, T Nagar, Chennai – 600017, Tamil Nadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
27.08.2008 |
|
|
|
|
Com. Reg. No.: |
18-069036 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209TN2008PTC069036 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEO04296F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of various products in the Water and Beverages Packaging
Industry. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 130000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company establishing itself gradually. The
company has achieved a sizable turnover in its very first year of business operation.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
181, North Usman Road, T Nagar, Chennai – 600017, Tamil Nadu |
|
Tel. No.: |
91-44-28142529 / 28141827 / 28141918 |
|
Fax No.: |
91-44-28141918 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mrs. Brinda Vasan |
|
Designation : |
Director |
|
Address : |
181, North Usman Road, T. Nagar, Chennai – 600017, Tamil Nadu, India |
|
Date of Birth/Age : |
19.01.1960 |
|
Date of Appointment : |
27.08.2008 |
|
DIN No.: |
01636350 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U25209TN2008PTC069036 |
Orange
Aqua Poly Products Private Limited |
Director |
27-08-08 |
27-08-08 |
- |
Active |
NO |
|
2 |
U15500TN2011PTC079204 |
Anjana
Beverages and Soft Drinks Private Limited |
Director |
14-02-11 |
14-02-11 |
- |
Active |
NO |
|
Name : |
Mr. Barath Vasan |
|
Designation : |
Director |
|
Address : |
181, North Usman Road, T. Nagar, Chennai – 600017, Tamil Nadu, India |
|
Date of Birth/Age : |
23.03.1987 |
|
Date of Appointment : |
18.01.2010 |
|
DIN No.: |
02889484 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U25209TN2008PTC069036 |
Orange
Aqua Poly Products Private Limited |
Director |
30-09-10 |
18-01-10 |
- |
Active |
NO |
|
2 |
U63012TN1999PTC043678 |
Chennai
Machines Private Limited |
Director |
10-07-10 |
10-07-10 |
- |
Active |
|
|
3 |
U15500TN2011PTC079204 |
Anjana
Beverages and Soft Drinks Private Limited |
Director |
14-02-11 |
14-02-11 |
- |
Active |
NO |
|
4 |
U25209TN2011PTC079430 |
Bharath
International Manufacturing and Trading Private Limited |
Director |
02-03-11 |
02-03-11 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
R. Vasan |
|
5000 |
|
Brinda Vasan |
|
1799000 |
|
Bharath Vasan |
|
897000 |
|
Anjana Vasan |
|
299000 |
|
Total |
|
3000000 |
As on 30.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of various products in the Water and Beverages Packaging
Industry. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, Mount Road branch, 1 Club House Road,
Anna Salai, Chennai – 600002, Tamil Nadu, India ·
The
Karur Vysya Bank Limited, Central Loan Processing Cell, 37, Whites Road (1st
Floor), Chennai – 600014, Tamil Nadu, India |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sidharth Mehta and Company Chartered Accountants |
|
Address : |
No.91, Govindappa Naiken Street, Chennai – 600001, Tamil Nadu, India |
|
PAN.: |
AAHPS0301F |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.100/-
each |
Rs.30.000
Millions |
|
|
|
|
|
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.100/-
each |
Rs.30.000
Millions |
|
|
|
|
|
Note: 133100
Equity Shares issued for consideration other than cash
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
30.000 |
0.100 |
|
|
2] Share Application Money |
|
2.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1.351 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.00 |
0.000 |
|
|
NETWORTH |
|
33.351 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
56.137 |
0.000 |
|
|
2] Unsecured Loans |
|
11.519 |
0.000 |
|
|
TOTAL BORROWING |
|
67.656 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
101.007 |
0.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
67.922 |
0.000 |
|
|
Capital work-in-progress |
|
1.201 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
15.749 |
|
|
|
Sundry Debtors |
|
18.595 |
0.100 |
|
|
Cash & Bank Balances |
|
0.037 |
|
|
|
Other Current Assets |
|
0.000 |
|
|
|
Loans & Advances |
|
4.587 |
0.000 |
|
Total
Current Assets |
|
38.968 |
0.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
7.084
|
0.000 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
7.084 |
0.000 |
|
|
Net Current Assets |
|
31.884 |
0.100 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
101.007 |
0.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Receipt / Turnover |
|
|
48.430 |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
45.079 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
1.351 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
1.351 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
4.50 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
|
2.79 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.26 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.04 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.24 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
5.50 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE:
The company earned Rs.46.430 Millions as gross income for the year. The
company achieved a profit of Rs.1.351 millions.
FORM 8:
|
Corporate identity number of the company |
U25209TN2008PTC069036 |
|
Name of the company |
ORANGE AQUA POLY PRODUCTS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
181, North Usman Road, T Nagar, Chennai – 600017, Tamil Nadu, India E-Mail : vasan_bi@yahoo.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
The Karur Vysya Bank Limited, Central Loan Processing Cell, 37, Whites
Road (1st Floor), Chennai – 600014, Tamil Nadu, India E-Mail : chennaiclpc@kvbmail.com
|
|
Nature of instrument creating charge |
Deed of hypothecation of current assets Machinery loan agreement (nos. 2) Agreement for hypothecation of goods received under letter of credit |
|
Date of instrument Creating the charge |
27.08.2011 |
|
Amount secured by the charge |
Rs.113.800 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest OCC / Term Loan / HPL (M) I / HPL (M) II : Base Rate + 2.50% i.e. 13.50%p.a.
floating at monthly rests Terms of repayment OCC / FLC / ILC : On Demand HPL (M) II : Repayable in 72 monthly installments along with interest
at monthly rests with the holiday period of 3 months. HPL (M) I : Repayable in 68 monthly installments of Rs.0.974Million
per month for the first 12 months, Rs. 0.832Million per month for the next 34
months, Rs. 0.332 Million per month for the next 2 months, and Rs.0.253
Million per month for the further 20 months and interest at monthly rests to
be served as and when debited. Term Loan (B): Repayable in 37 months Margin OCC : 25.00% FLC / ILC : 15.00% HPL(M) II : 33.88% Extent and operation of the charge Exclusive first charge by way of hypothecation on securities as a
continuing security for the credit facilities of Rs.113.800 Millions along
with interest, penal interest, charges, expenses, etc. Others Nature of facility Limit (Rs.
in Millions) OCC
38.000 FLC / ILC 10.000 Term Loan 6.500 HPL (M) I 45.700 HPL (M) II 13.600 Total 113.800 All other terms and conditions as per the sanction letter and
instruments executed. |
FIXED ASSETS:
·
Building
·
Land
·
Computer and Accessories
·
Electrical Equipments
·
Factory Equipments
·
Furniture and Fittings
·
Office Equipments
·
Plant and Machinery
·
Vehicles
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.54.24 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.70.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
|
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.