MIRA
INFORM REPORT
|
Report Date : |
21.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
UTILITY PRINTPACK PRIVATE LIMITED |
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Registered
Office : |
107, Blue Rose Industrial Premises, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
20.10.2006 |
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Com. Reg. No.: |
11-165210 |
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CIN No.: [Company Identification
No.] |
U74950MH2006PTC165210 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU05055B |
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PAN No.: [Permanent Account No.] |
AAACU8654M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Pointed Boxes, Labels, Poster and
Corrugated Boxes Paper Board etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B (37) |
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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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Maximum Credit Limit : |
USD 623700 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are fair. Payments are reported as slow but correct. The company can be considered for small to mediocre 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 – 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 |
INFORMATION PARTED BY
|
Name : |
Mr. Yashwant |
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Designation : |
Head of Administration |
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LOCATIONS
|
Registered Office : |
107, Blue Rose Industrial Premises, |
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Tel. No.: |
91-22-67106002/ 3/ 4 |
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Fax No.: |
91-22-67106005 |
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E-Mail : |
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Website : |
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Area : |
2000 sq.ft |
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Location : |
Rented |
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Factory 1 : |
Plot No. 46/47, Changodar Industrial Area, |
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Tel. No.: |
91-2717-251762 / 4 / 5 / 6 / 7 |
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Fax No.: |
91-2717-251763 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Manoj B Mehta |
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Designation : |
Director |
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Address : |
102, Bluest Arcrystal C.H.S. Limited, Plot No.20, BTPS No. 1, |
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Date of Birth/Age : |
26.05.1958 |
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Date of Appointment : |
20.10.2006 |
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DIN : |
00150703 |
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Name : |
Mr. Mukesh B Mehta |
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Designation : |
Director |
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Address : |
602, |
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Date of Birth/Age : |
08.04.1960 |
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Date of Appointment : |
20.10.2006 |
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DIN : |
00663878 |
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Name : |
Mr. Jinesh M Mehta |
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Designation : |
Director |
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Address : |
102, Bluest Arcrystal C.H.S. Limited, Plot No.20, BTPS No. 1, |
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Date of Birth/Age : |
06.06.1985 |
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Date of Appointment : |
20.10.2006 |
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DIN : |
00647443 |
KEY EXECUTIVES
|
Name : |
Mr. Yashwant |
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Designation : |
Head of Administration |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.9.2010
|
Names of Shareholders |
|
No. of Shares |
|
Manoj Balwantrai Mehta |
|
4800 |
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Mukesh Mehta |
|
5000 |
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Manoj Mehta / Parul Mehta |
|
4892700 |
|
Mukesh Mehta/ Heena Mehta |
|
4892700 |
|
Jinesh Mehta/ Manoj Mehta |
|
2448900 |
|
Pallavi Patel |
|
30000 |
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Vinayakrao Patel |
|
30000 |
|
Nikita Patel |
|
15000 |
|
Rohini Mercantile Private Limited |
|
1000000 |
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Jayshree D. Shah / Dinesh Shah |
|
180700 |
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Ashit Parikh |
|
100 |
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R.D. Traders Private Limited |
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V.K.Beswal and Associates |
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Sudha Beswal |
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100 |
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V.K. Beswal |
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Namita Agarwal |
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Yogendra Agarwal |
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Total |
13500000 |
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
90.70 |
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Other top fifty shareholders |
9.30 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pointed Boxes, Labels, Poster and
Corrugated Boxes Paper Board etc. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
60 (Office 20, Factory 40) (Approximately) |
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Bankers : |
The Federal Bank Limited, |
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Facilities : |
Note : 1) Above term loans are secured by mortgage / hypothecation of
immovable and movable fixed assets 2) The working capital limits are secured against the hypothecation of
stock and Book debts. 3) All the above loans are further secured by personal guarantee of
the directors of the company.
Note : i) Above term loans are secured by hypothecation of vehicle purchased
under the respected loans. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shailesh and Company Chartered Accountant |
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Address : |
5-A/5, Municiple blocks, Opp. IDBI Bank, Off C.G.Road, Ahmedabad –
380006, |
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Mobile No.: |
91-9825064204 |
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PAN No. : |
AALFM9404D |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/-each |
Rs.150.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13,500,000 |
Equity Shares |
Rs.10/-each |
Rs.135.000 million |
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 |
|
|
|
|
|
1] Share Capital |
135.000 |
110.000 |
30.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
20.943 |
16.187 |
6.495 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
155.943 |
126.187 |
36.495 |
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|
LOAN FUNDS |
|
|
|
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1] Secured Loans |
399.862 |
350.218 |
155.557 |
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2] Unsecured Loans |
8.834 |
33.395 |
26.684 |
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TOTAL BORROWING |
408.696 |
383.613 |
182.241 |
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DEFERRED TAX LIABILITIES |
111.313 |
11.177 |
1.931 |
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TOTAL |
675.952 |
520.977 |
220.667 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
456.558 |
386.971 |
188.805 |
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Capital work-in-progress |
0.000 |
5.649 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
88.192
|
70.630 |
27.192 |
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Sundry Debtors |
142.397
|
111.830 |
45.118 |
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Cash & Bank Balances |
9.482
|
7.664 |
6.784 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
25.252
|
27.707 |
5.109 |
|
Total
Current Assets |
265.323
|
217.831 |
84.203 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
28.711
|
82.903 |
48.181 |
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Other Current Liabilities |
3.781
|
0.456 |
3.450 |
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Provisions |
13.437
|
6.115 |
0.710 |
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Total
Current Liabilities |
45.929
|
89.474 |
52.341 |
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Net Current Assets |
219.394
|
128.357 |
31.862 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
675.952 |
520.977 |
220.667 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
480.386 |
324.756 |
113.938 |
|
|
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TOTAL (A) |
480.386 |
324.756 |
113.938 |
|
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Less |
EXPENSES |
|
|
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Office Expenses |
|
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|
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Administrative Expenses |
393.490 |
252.634 |
84.533 |
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Advertising Expenses |
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TOTAL (B) |
393.490 |
252.634 |
84.533 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
86.896 |
72.122 |
29.405 |
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Less |
Interest (D) |
47.688 |
33.859 |
14.020 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
39.208 |
38263 |
15.385 |
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.565 |
16.426 |
5.709 |
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PROFIT BEFORE
TAX (E-F) (G) |
9.643 |
21.837 |
9.676 |
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|
|
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Less |
TAX (I) |
4.887 |
12.146 |
3.181 |
|
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PROFIT AFTER TAX
(G-I) (J) |
4.756 |
9.691 |
6.495 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
NA |
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BALANCE CARRIED
TO THE B/S |
NA |
NA |
NA |
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EARNINGS IN
FOREIGN CURRENCY |
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|
|
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|
FOB Value of Exports |
78.820 |
13.772 |
0.000 |
|
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TOTAL EARNINGS |
78.820 |
13.772 |
0.000 |
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
12.822 |
4.234 |
0.000 |
|
|
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Capital Goods |
139.451 |
94.192 |
0.000 |
|
|
|
Consumable Stores |
0.752 |
0.050 |
0.000 |
|
|
TOTAL IMPORTS |
153.025 |
153.025 |
0.000 |
|
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|
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|
Earnings Per
Share (Rs.) |
0.42 |
2.92 |
5.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.99
|
2.98 |
5.70 |
|
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.34
|
3.61 |
3.54 |
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.17 |
0.26 |
|
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|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.92
|
3.75 |
6.43 |
|
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
5.78
|
2.43 |
1.61 |
LOCAL AGENCY FURTHER INFORMATION
The registered office of the company has been shifted from A2, 155 Shah and
Nahar Industrial Estate, S.J. Marg, Lower Parel, Mumbai-400013,
Trade References:
·
Bajaj Arbal Private Limited,
·
Cadbury Industries Limited, Mumbai
·
Banllabs Limited,
Financial Highlights
During the year, the company’s gross income
was Rs. 480.400 million. The profit after tax was Rs. 4.700 million. After
providing depreciation of Rs. 29.500 million and provision for tax of Rs. 4.900
million. Taking into consideration, current market scenario, the Directors are
confident of better performance for the current year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74950MH2006PTC165210 |
|
Name of the
company |
UTILITY PRINTPACK PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
107, Blue Rose Industrial Premises, |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
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Particular of
charge holder |
The Federal Bank Limited, Email-Id : info@ca-adlalwani.com
|
|
Nature of
description of the instrument creating or modifying the charge |
1) Hypothecation Agreement 2) Letter of Ceding of Paripassu Charge (All the above agreement constitute a single charge) – additional
charge on movable current assets for ADHOC limit of Rs.20.000 million CRS
since this ADHOC limit is apart from consortium limit hence the charge is
filed as creation of charge in favor of the federal bank limited |
|
Date of
instrument Creating the charge |
13.10.2010 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
a) Rate of
Interest As stipulated by
the Bank form time to time. b) Terms of
Repayment As stipulated by
the Bank form time to time. c) Margin As stipulated by
the Bank form time to time. d) Extent and
Operation of the charge First Paripassu
Charge (present and future) = ADHOC limit Rs. 20.000 millions. e) Others As stipulated by
the Bank form time to time and as per agreement attached and as per sanction
letter of the bank. |
|
Short particulars
of the property charged |
First paripassu
Charge (present and future on following assets)- hypothecation of all stock /
goods/ inventories / product kept at borrower place / factories / Godown /
premises or wherever else or in transit. Hypothecation of
all book debts and receivables Hypothecation of
all current and movable assets. |
AS PER WEBSITE
Management:
Manoj Mehta
Chairman, an entrepreneur, a path
finder…..
The founder-promoter of UTILITY GROUP has been in the
printing / packaging industry for over 25 years. With his vision and
leadership, UTILITY has seen a constant double digit growth year on year since its
inception. Along with being a Gold Medalist in Printing Technology, he also
holds prestigious positions within the industry like President – All India
Federation of Master Printers’, President – Bombay Master Printers’
Association, Chairman – Export Promotion – AIFMP, President – Print Laminators’
Association and more.
Mukesh Mehta
Managing Director, The Technical
Superbrain, A Workflow Master
A cost-accountant by qualification – he is also the
co-founder of UTILITY GROUP and has been actively involved in all
techno-commercial activities. Under his technical expertise and guidance,
UTILITY is today known as one of
Jinesh Mehta
Executive Director, A Young
Entreprenuer, The Future…..
A Print Technologist and Management Graduate from
Fixed Assets:
·
·
Buildings
·
Plant and Machinery
·
Furniture and Fixture
·
Officer Equipments
·
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 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. 45.18 |
|
|
1 |
Rs. 73.04 |
|
Euro |
1 |
Rs. 61.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
37 |
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.