MIRA
INFORM REPORT
|
Report Date : |
23.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
FENO PLAST LIMITED |
|
|
|
|
Registered
Office : |
306, Chenoy Trade
Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
16.10.1975 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.45.967 Millions |
|
|
|
|
Com. Reg. No.: |
01-1942 |
|
|
|
|
CIN No.: [Company
Identification No.] |
L25209AP1975PLC001942 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
HYDF00369F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACF3076C |
|
|
|
|
Legal Form : |
Public Limited
Liability Company. The company’s shares
are listed on the Stock Exchanges. |
|
|
|
|
Line of Business : |
Manufacturing of
PVC Leather Cloth and PVC Film. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are fair. Business is active. Payments are reported to be usually correct
and as per commitments. 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 – 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 : |
306, Chenoy Trade
Centre, |
|
Tel. No.: |
91-40-27840322 / 27840722 / 27814651 |
|
Fax No.: |
91-40-27721739 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
·
Unit-I PlotNo.21/A, Industrial Development Area, Patancheru, Medak Dist., ·
Unit-II Survey No. 132 and 133, ·
Unit-III Survey No. 165 and 166, |
|
|
|
|
Branches / Marketing Office : |
Located at : ·
Mumbai A/11, Parle Colony, CHS, Near Garware House, ·
Hosur 2, 3 and 4, Sri Lakshmi Narasimhaswamy Complex, Venkateswara Temple
Road, Hosur - 635109, Tamilnadu, India ·
Kolkata P-175, Kalindi Housing Estate, Kolkata - 700 089, West ·
Gurgaon Shiv Ashram, Near Jwalla Mills, Palam-Gurgaon Road, Dundahera, Gurgaon
-15, Haryana, India ·
35B and 36, ·
Roorkee 360, Paschmi Ambar Talab, Civil ·
Ahmedabad 544/B, Sitaram Chowk, Moti Hamam Pole, Gheekanta, Ahmedabad - 360001. ·
Kalyan, Plot No 681, at Post Kon, Taluka-Bhiwandi,
Dist-Thane (Near ·
Roorkee O.K. Cold
Storage Compound, |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Bhandari Kamalaker Rao |
|
Designation : |
Chairman |
|
Address : |
603, Bhandari Residency, begumpet, |
|
Date of Birth : |
27.03.1949 |
|
Date of Appointment : |
28.09.2005 |
|
DIN No.: |
00038686 |
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 |
U52520AP1989PTC010037 |
Kay Kay
Distributors Private Limited |
Director |
22-05-89 |
22-05-89 |
- |
Strike off |
NO |
|
2 |
U67120AP1993PTC016665 |
Aiswarya Holdings
Private Limited |
Director |
01-12-93 |
01-12-93 |
- |
Active |
NO |
|
3 |
U01119AP1995PTC019755 |
Sri Kalyan Agro
Services Private Limited |
Director |
21-03-95 |
21-03-95 |
- |
Strike off |
NO |
|
4 |
L25209AP1975PLC001942 |
Feno Plast
Limited |
Director |
28-09-05 |
28-09-05 |
- |
Active |
NO |
|
5 |
L27109AP1975PLC001919 |
Pennar
Industries Limited |
Director |
19-08-09 |
30-01-09 |
- |
Active |
NO |
|
Name : |
Mr. Haridas Narsaiah |
|
Designation : |
Director |
|
Address : |
Near Municipal park, Saraswati Nagar,
Nizamabad, |
|
Date of Birth : |
09.11.1936 |
|
Date of Appointment : |
27.09.2006 |
|
DIN No.: |
00292864 |
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 |
U17119AP1981PLC003338 |
Feno Fiber
Limited |
Director |
01-04-01 |
01-04-01 |
- |
Active |
|
|
2 |
L25209AP1975PLC001942 |
Feno Plast
Limited |
Director |
27-09-06 |
27-09-06 |
- |
Active |
NO |
|
3 |
U17123AP1984PTC004465 |
Rex-O-Knits
Private Limited |
Managing
director |
30-06-07 |
30-06-07 |
- |
Active |
NO |
|
Name : |
Mr. Haridas Krishna Kumar |
|
Designation : |
Whole-time Director |
|
Address : |
Flat No.503, |
|
Date of Birth : |
11.08.1959 |
|
Qualification : |
M.A. |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00260198 |
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 |
U67120AP1987PTC007200 |
Feno Investments
Private Limited |
Director |
01-04-06 |
01-04-06 |
- |
Active |
NO |
|
2 |
L25209AP1975PLC001942 |
Feno Plast
Limited |
Whole-time
director |
01-04-09 |
01-04-06 |
- |
Active |
NO |
|
3 |
U18209AP1980PTC002792 |
Feno-Foams
Private Limited |
Director |
30-06-07 |
30-06-07 |
- |
Dormant |
NO |
|
4 |
U22219AP2011PTC073869 |
Telangana
Television Private Limited |
Director |
15-04-11 |
15-04-11 |
- |
Active |
NO |
|
Name : |
Mr. Niroop Reddy Patlolla |
|
Designation : |
Director |
|
Address : |
S-172, L.G.F., Greater Kailash – 2\, |
|
Date of Birth : |
08.06.1958 |
|
Date of Appointment : |
13.05.2010 |
|
DIN No.: |
03110997 |
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 |
L25209AP1975PLC001942 |
Feno Plast
Limited |
Director |
20-08-10 |
13-05-10 |
- |
Active |
NO |
|
2 |
U22219AP2011PTC073869 |
Telangana
Television Private Limited |
Additional
director |
14-05-11 |
14-05-11 |
- |
Active |
NO |
|
Name : |
Mr. Haridas Kishen |
|
Designation : |
Managing Director |
|
Address : |
B-3, Vikrampuri Colony, Karkana,
Secunderabad, |
|
Date of Birth : |
20.09.1941 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
01.04.2004 |
|
DIN No.: |
00160625 |
|
|
|
|
Name : |
Dr. Katikeneni Malhar Rao |
|
Designation : |
Director |
|
Address : |
H- No. 8-2-703/1A, Road No.12, banjara
Hills, Hyderabad, Andhra Pradesh, India |
|
Date of Birth : |
04.01.1952 |
|
Date of Appointment : |
30.04.2004 |
|
DIN No.: |
00294715 |
|
|
|
|
Name : |
Mr. Haridas Anuradha |
|
Designation : |
Director |
|
Address : |
Flat No.402, |
|
Date of Birth : |
04.02.1962 |
|
Date of Appointment : |
02.03.2008 |
|
DIN No.: |
02623626 |
KEY EXECUTIVES
|
Name : |
Mr. P Surya Prakash |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Category of Shareholder |
Total No. of
Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2711589 |
58.95 |
|
|
2711589 |
58.95 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2711589 |
58.95 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
107779 |
2.34 |
|
|
|
|
|
Individual shareholders holding nominal
share capital up to Rs. 0.100 million |
734274 |
15.96 |
|
Individual shareholders holding
nominal share capital in excess of Rs.0.100 million |
924438 |
20.10 |
|
|
121920 |
2.65 |
|
|
620 |
0.01 |
|
Non Resident Indian |
121300 |
2.64 |
|
|
1888411 |
41.05 |
|
Total Public shareholding (B) |
1888411 |
41.05 |
|
Total (A)+(B) |
46000000 |
100.00 |
|
(C) Shares held by Custodians and against which
Depository Receipts have been issued |
-- |
-- |
|
Promoters and Promoters Group |
-- |
-- |
|
Public |
-- |
-- |
|
Sub Total |
-- |
-- |
|
Total (A)+(B)+(C) |
4,600,000 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Clearing membersBUSINESS DETAILS
|
Line of Business : |
Manufacturing of
PVC Leather Cloth and PVC Film. |
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Products : |
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Exports : |
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|
Countries : |
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
U.A.E. ·
·
·
·
·
·
|
PRODUCTION STATUS
AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity* |
Actual
Production |
|
PVC Leather Cloth/Cellular Sheets |
LLM |
75.00 |
70.67 |
|
PVC Film |
MT |
15000.00 |
10907.75 |
NOTE
91.
Being technical matter, not verified by auditors.
GENERAL INFORMATION
|
Customers : |
·
·
Merck Limited ·
Pfizer Limited ·
Abbott India Limited ·
Nicholas Piramal India Limited ·
Pharmacia Healthcare Limited ·
RPG Life Sciences Limited ·
Aristo Pharmaceuticals Limited ·
Aurobindo Pharma
·
Cadila Pharmaceuticals ·
AstraZeneca Pharma India Limited ·
Medreich Sterilab
·
U.S.Vitamins Limited ·
Strides Arcolab Limited ·
The Himalaya Drug Company ·
·
·
Romsons Scientific and Surgical Industries ·
Emil Pharmaceutical Industries ·
Franco Indian Remedies Private Limited ·
Johnson and JohnsonLimited ·
Albert David Limited ·
Emcure Pharmaceuticals Limited ·
Hetero Drugs
·
Biological E. Limited ·
Orchid Healthcare Limited ·
Aventis Pharma
·
Alfred Berg Company ·
Hindustan Antibotics Limited ·
Eveready Industries India Limited ·
BPL Soft Energy Systems Limited, ·
Indo National Limited, Chennai ·
Matsushita Lakanpal Battery India Limited ·
Schiffer and Menezes, ·
The Paper Print Products, Mumbai ·
Ajay Home Products Limited, ·
Needle Industries ( ·
Royal Brushes |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Canara Bank, ·
Syndicate Bank, M G Road, Secunderabad branch, 1st
Floor, Varalaxmi Complex, ·
The Lakshmi Vilas Bank Limited ·
Union Bank of ·
State Bank of |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Anandam and Company Chartered Accountants |
|
Address : |
7A, |
|
Tel No.: |
91-22-27812377,27812034 |
|
Fax No.: |
91-22-27812091 |
|
Website: |
|
|
PAN No.: |
AACFM8791J |
|
|
|
|
Related parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
60,00,000 |
Equity Shares |
Rs.10/- Each |
Rs.60.000 millions |
|
60,00,000 |
Preference shares |
|
Rs.60.000 millions |
|
|
Total |
|
Rs.12.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
46,00,000 |
Equity Shares |
Rs.10/- Each |
Rs.46.000
millions |
|
Less: |
Calls in Arrears |
|
Rs.0.033
millions |
|
|
Total |
|
Rs.45.967 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
45.967 |
45.967 |
45.967 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
269.547 |
254.226 |
240.447 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
315.514 |
300.193 |
286.414 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
483.758 |
463.005 |
455.353 |
|
|
2] Unsecured Loans |
18.354 |
36.047 |
30.189 |
|
|
TOTAL BORROWING |
502.112 |
499.052 |
485.542 |
|
|
DEFERRED TAX LIABILITIES |
35.777 |
33.720 |
28.729 |
|
|
|
|
|
|
|
|
TOTAL |
853.403 |
832.965 |
800.685 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
325.280 |
337.904 |
357.867 |
|
|
Capital work-in-progress |
2.610 |
0.074 |
0.072 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.673 |
5.173 |
5.173 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
228.077
|
164.563
|
119.164
|
|
|
Sundry Debtors |
559.267
|
524.873
|
386.407
|
|
|
Cash & Bank Balances |
35.150
|
25.784
|
30.840
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
117.972
|
121.615
|
140.334
|
|
Total
Current Assets |
940.466
|
836.835
|
676.745 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
386.533
|
284.242
|
166.609 |
|
|
Other Current Liabilities |
17.337
|
47.786
|
38.614
|
|
|
Provisions |
15.756
|
14.993
|
33.949 |
|
Total
Current Liabilities |
419.626
|
347.021
|
239.172 |
|
|
Net Current Assets |
520.840
|
489.814
|
437.573
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
853.403 |
832.965 |
800.685 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1762.779 |
1440.973 |
1100.967 |
|
|
|
Other Income |
12.170 |
12.951 |
9.083 |
|
|
|
TOTAL (A) |
1774.949 |
1453.924 |
1110.050 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
1334.960 |
1060.052 |
792.830 |
|
|
|
Manufacturing Expenses |
93.360 |
81.996 |
65.846 |
|
|
|
Employee Cost |
80.915 |
63.854 |
56.536 |
|
|
|
Administrative and Selling Expenses |
126.453 |
110.020 |
68.219 |
|
|
|
TOTAL (B) |
1635.688 |
1315.922 |
983.431 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
139.261 |
138.002 |
126.619 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
84.191 |
82.740 |
81.507 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
55.070 |
55.262 |
45.112 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.780 |
21.972 |
19.054 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
37.290 |
33.290 |
26.058 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.387 |
11.315 |
12.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
24.903 |
21.975 |
13.198 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
134.924 |
112.949 |
99.751 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
159.827 |
134.924 |
112.949 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
135.949 |
149.423 |
|
|
TOTAL EARNINGS |
NA |
135.949 |
149.423 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
244.328 |
147.399 |
|
|
|
Machinery |
NA |
0.189 |
7.571 |
|
|
TOTAL IMPORTS |
NA |
244.517 |
154.970 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.41 |
4.78 |
2.87 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2011 1st
Quarter |
30.09.2011 2nd
Quarter |
|
Gross Sales |
|
490.720 |
498.060 |
|
Other Operating Income |
|
441.730 |
450.360 |
|
Other Income |
|
48.990 |
47.700 |
|
Total Income |
|
0.600 |
1.640 |
|
Total Expenditure |
|
49.590 |
49.340 |
|
PBIDT |
|
29.830 |
29.620 |
|
Interest |
|
0.000 |
0.000 |
|
PBDT |
|
19.760 |
19.720 |
|
Depreciation |
|
5.580 |
5.750 |
|
Tax |
|
14.180 |
13.970 |
|
Fringe Benefit Tax |
|
4.710 |
4.420 |
|
Deferred Tax |
|
0.000 |
0.000 |
|
Reported Profit After Tax |
|
9.470 |
9.550 |
|
Extra ordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustment |
|
0.000 |
0.000 |
|
Net profit |
|
9.470 |
9.550 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.40
|
1.51
|
1.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.12
|
2.31
|
2.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.95
|
2.83
|
2.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.11
|
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.92
|
2.82
|
2.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.27
|
2.41
|
2.83 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
The company earned a profit before tax of Rs.37.290 Millions during the year
as against Rs.33.290 Millions in previous year. The new calendaring line has
contributed significantly towards higher production of PVC Film. Efforts are
being made to attain optimum capacity utilization during the current year.
CONTINGENT
LIABILITIES:
a) Letters of
Credit, Bank Guarantees and other Guarantees of Rs.97.480 Millions (Previous
year: Rs. 49.319 millions)
b) Claims against
the company not acknowledged as debts:
Income tax matter under appeal Rs.7.355 millions (Previous year Rs.9.032
millions).
FORM 8:
|
Corporate
identity number of the company |
L25209AP1975PLC001942 |
|
Name of the
company |
FENO PLAST LIMITED |
|
Address of the
registered office or of the principal place of business in |
306, Chenoy Trade
Centre, E-mail : inbox@fenoplast.com |
|
This form is for |
Creation
of Charge |
|
Type of charge |
Immovable
property Book Debt Floating Charge |
|
Particular of
charge holder |
Syndicate
Bank, M G Road, Secunderabad branch, 1st Floor, Varalaxmi Complex,
E-mail
: ap20343053hydro@syndicatebank.co.in
|
|
Nature of
instrument creating charge |
|
|
Date of instrument
Creating the charge |
08.11.2011 |
|
Amount secured by
the charge |
Rs.48.700
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest BR+6.25% +
0.25%pa (presently
17.25%) Term of Repayment Repayable in 84
monthly instilments (7years) at Rs.0.580 Millions each commencing after year
moratorium period from the date of first release and last installment shall
be Rs,0.560 Millions Margin 40% on civil
works and fixtures and 30% on machinery Extend and
operation of the charge To secure the
loan amount of Rs.48.700 Millions along with canara bank (term lender) and
Collateral security as second charge on current assets along with canara
bank. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All the fixed
assets along with canara bank All the current
assets along with canara bank. |
FIXED ASSET
- Land and Land Development
- Buildings
- Plant and Machinery
- Electrical installations
- Office Equipment
- Furniture and fixtures
- Bore Well
- Motor Vehicles
- Factory Equipment
AS PER WEB DETAILS
PROFILE
Fenoplast-The name behind the
finest automotive upholstery
Often, the elegance and comfort of
an automobile is best reflected in its upholstery. Whether it is a tiny
two-wheeler or powerful four-wheeler, among all the parts of an automobile,
what lends easily for an aesthetic touch is the upholstery with which people
are in intimate touch.
For decades now, subject is a name
that has been at the core of the finest automotive upholstery. Known for making
world-class quality PVC Leather Cloth, subject has been preferred by many
Indian as well as International automobile majors for automotive upholstery.
Today, subject has a formidable presence far and wide - in over 20 countries,
including
Fenoplast - The genesis of Growth
·
1976 -- Fenoplast
begins manufacture of PVC Leather Cloth
Investment
: Rs. 7 million
Production
Capacity : 3 million square meters per annum
Technology
: Direct Coating
·
1983 -- Fenoplast new
unit setup
Production
Capacity : 3 million square meters per annum
Technology
: Transfer coating using Release Paper
Machinery
: imported from
·
1987 -- First plant
modernized assimilating the Transfer Coating technology.
·
1988 -- Fenoplast new
unit setup to manufacture PVC Rigid/Soft Film
Investment
: Rs. 150 million
Technology
: Calendering with two stage planetary extrusion.
Machinery
: from Battenfeld Extrusions Technic
It is to the credit of Fenoplast
to acquire and adopt, for the first time in
Fenoplast - The plants and Products Presently, the Fenoplast Group has five
manufacturing units in its ambit, each producing a specialized range of PVC and
PVC - related products. Together, the five units of subject constitute an
integrated facility, enabling the company reap rich economies of scale in
production and ensure excellent quality in its products, which in turn get
passed on to the end-users.
Fenoplast - The Quality
Control Fenoplast places special accent on the quality of its products. Subject
has adopted a comprehensive quality control process to ensure excellence at
every stage of production, The 8 - stage quality control system leaves
virtually no aspect to chance.
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.52.72 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.68.90 |
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 |
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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.