MIRA INFORM REPORT
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Report Date : |
27.07.2011 |
IDENTIFICATION DETAILS
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Name : |
CUSTOM CAPSULES PRIVATE LIMITED |
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Registered Office : |
1001, Dalamal House, 10th Floor, Nariman Point,
Mumbai – 400 021, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
23.09.1988 |
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Com. Reg. No.: |
11-048924 |
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Paid-Up Capital : |
Rs. 10.000 Millions |
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CIN No.: [Company
Identification No.] |
U24235MH1988PTC048924 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC10955A |
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PAN No.: [Permanent
Account No.] |
AAACC6203G |
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Legal Form : |
Private Limited Liability company. |
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Line of Business : |
Manufacturers and Exporters of Custom sized Capsules in Gelatin and Hpmc, Hand Operated Machines. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 820000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade relations are reported as 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
LOCATIONS
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Registered Office : |
1001 Dalamal House 10th Floor Nariman Point, Mumbai – 400
021, |
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Tel. No.: |
91-22-22872557/ 22831441 / 2831480 / 2832322 / 25272538 |
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Fax No.: |
91-22-22872560/ 22873288 / 25272537 |
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E-Mail : |
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Website : |
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Head Office / Factory: |
B - 8/1, MIDC Tarapur, Camlin Naka, Boisar – Thane District, Thane –
401 506, |
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Tel. No.: |
91-2537-223538/ 2525-272538 |
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Fax No. : |
91-2525-272537 |
DIRECTORS
As On 04.06.2010
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Name : |
Mr. Jasjit Daljit Singh |
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Designation : |
Director |
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Address : |
2-B Swapnalok L.J. Marg, |
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Date of Birth/Age : |
03.04.1943 |
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Date of Appointment : |
23.09.1988 |
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DIN No.: |
00901470 |
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Name : |
Mr. Ajit Daljit Singh |
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Designation : |
Director |
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Address : |
1A Brighten Building No.1, |
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Date of Birth/Age : |
20.11.1941 |
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Date of Appointment : |
23.09.1988 |
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DIN No.: |
00915347 |
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Name : |
Mr. Raj Vikram Tahil |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
07.12.1959 |
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Date of Appointment : |
12.11.2002 |
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DIN No.: |
01231912 |
KEY EXECUTIVES
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Name : |
Mr. J. N. Vyas |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
56 Years |
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Qualification : |
DEE and AMIE |
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Experience : |
32 Years |
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Date of Appointment : |
03.02.2003 |
MAJOR SHAREHOLDERS
As On 04.06.2010
|
Names of Shareholders |
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No. of Shares |
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Ajit Daljit Singh |
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21500 |
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Jasjit Daljit Singh |
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5620 |
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Raj Vikram Tahil |
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49000 |
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Nandini Jasjit Singh |
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2500 |
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Karan Jasjit Singh |
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2500 |
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Priya Jasjit Singh |
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2500 |
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Jasjit Singh Karta of Jasjit Singh (HUF) |
|
4000 |
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Ajit Singh |
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5400 |
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Ajit Singh Karta of Sardar Daljit Singh |
|
2000 |
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Jasjit Singh |
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4380 |
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Jasjit Singh |
|
600 |
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Total |
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100000 |
As On 04.06.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Custom sized Capsules in Gelatin and Hpmc, Hand Operated Machines. |
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Products : |
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PRODUCTION STATUS (As On 31.03.2010)
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Particulars |
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Unit |
Installed Capacity |
Actual Production |
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Two piece empty gelatin capsules |
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Qty in 000’s |
30000 |
14954 |
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Pharmaceutical and allied machineries |
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Qty in Nos. |
Not applicable |
2881 |
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HPMC Capsules |
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Qty in Nos. |
Not applicable |
64.80 |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Banking Relations
: |
-- |
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Financial Institute : |
Housing Development Finance Corporation Limited – 169,
Backbay Reclamation, Mumbai – 400020, |
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Auditors : |
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Name : |
S. J. Thadani and Associates Chartered Accountant |
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Address : |
2/50 Shree Ganesh Society, Next to Worli Police Station, Dr. A. B. Road, Worli, Mumbai – 400025, Maharashtra, India |
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Tel. No.: |
91-22-4948413/4926229 |
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Pan No.: |
AANFS4045A |
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Associates/Subsidiaries (As On 31.03.2007) : |
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CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
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Note:
*- In year 2008-09
company had reclassified its existing equity shares into Class " A Voting Shares,
to the extent of 10% of the total number of shares and Balance 90% into Class
" B and Class "C" nod-voting shares having differential dividend
rights.
** - Of this
50,000 shares were issued as fully paid-up bonus shards on 23.12.2003 by
capitalising a part of balance in the Profit and Loss Account.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.000 |
10.000 |
10.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
196.749 |
211.723 |
191.109 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
206.749 |
221.723 |
201.109 |
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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 |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
3.166 |
3.588 |
3.239 |
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TOTAL |
209.915 |
225.311 |
204.348 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
44.326 |
48.438 |
48.857 |
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Capital work-in-progress |
5.019 |
2.884 |
2.621 |
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INVESTMENT |
62.167 |
63.248 |
30.231 |
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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 |
25.077
|
33.402
|
35.129
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Sundry Debtors |
8.311
|
12.087
|
10.620
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Cash & Bank Balances |
23.128
|
13.612
|
1.210
|
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Other Current Assets |
0.000 |
0.000 |
0.000
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Loans & Advances |
96.232
|
83.171
|
92.555
|
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Total
Current Assets |
152.748
|
142.272
|
139.514
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.417
|
1.500
|
3.549
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Other Current Liabilities |
19.335
|
13.847
|
11.617
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Provisions |
31.593
|
16.184
|
1.709
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Total
Current Liabilities |
54.345
|
31.531
|
16.875 |
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Net Current Assets |
98.403
|
110.741
|
122.639
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
209.915 |
225.311 |
204.348 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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TURNOVER (GROSS)
|
151.185 |
135.386 |
127.764 |
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Less |
EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT BEFORE
TAX |
63.669 |
55.878 |
47.669 |
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Less |
TAX |
21.379 |
20.948 |
16.446 |
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PROFIT AFTER TAX
|
42.290 |
34.930 |
31.223 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
183.889 |
166.767 |
138.666 |
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Less |
APPROPRIATIONS |
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General Reserve |
4.229 |
3.493 |
3.122 |
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Interim Dividend Paid |
28.632 |
0.000 |
0.000 |
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Proposed Dividend Distribution |
28.632 |
14.315 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
164.686 |
183.889 |
166.767 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
144.920 |
129.442 |
121.943 |
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TOTAL EARNINGS |
144.920 |
129.442 |
121.943 |
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IMPORTS |
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Raw Materials |
6.347 |
8.143 |
4.408 |
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TOTAL IMPORTS |
6.347 |
8.143 |
4.408 |
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Earnings Per
Share (Rs.) |
422.90 |
NA |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
32.31
|
29.30
|
25.31
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.25
|
0.24
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Debt Equity Ratio (Total Liability/Networth) |
|
0.26
|
0.14
|
0.08
|
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Current Ratio (Current Asset/Current Liability) |
|
2.81
|
4.51
|
8.27
|
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE:
The operations of the company during the year were satisfactory.
|
Name of the company |
CUSTOMN CAPSULES
PRIVATE LIMITED |
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Presented By |
Shri Jasjit Singh |
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1) Date and description of instrument creating the change |
Mortgage has been created by deposit of Title documents on 22.02.1994 Being
an oral mortgage, no instruments in writing has been executed. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.800 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Flat Nos. 1 to
12, in Building No.4, located at Swami Vivekanand Nagar, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
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5) Name and Address and description of the person entitled to the charge. |
Housing
Development Finance Corporation 169, Backbay
Reclamation , |
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6) Date and brief description of instrument modifying the charge |
-- |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
-- |
Fixed Assets:
- Land
- Building
- Plant and machinery
- Furniture, Fixtures and Other Equipment
- Motor Cars
- Computer Software
- Patents
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.44.29 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.17 |
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 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.