MIRA
INFORM REPORT
|
Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
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Name : |
PRADEEP LAMINATORS PRIVATE LIMITED |
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Registered
Office : |
Gat No.392, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
20.11.1997 |
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Com. Reg. No.: |
111990 |
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Capital
Investment / Paid-up Capital : |
Rs.16.917 Millions |
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CIN No.: [Company Identification
No.] |
U25209MH1997PTC111990 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Plastic Packaging |
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No. of Employees
: |
72 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 176268 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. There appears
some losses being incurred by the company in current year i.e. 2009-10.
However, 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.
INFORMATION PARTED BY
|
Name : |
Mr. Satish |
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Designation : |
Assistant Accounts Manager |
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Date : |
14.06.2011 |
LOCATIONS
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Registered Office/Factory : |
Gat No.392, |
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Tel. No.: |
91-2135-259046/259167/259168/678900 |
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Mobile No.: |
91-9860094537 (Mr. GVN Murthy) |
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Fax No.: |
91-2135-259299 |
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E-Mail : |
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Website : |
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Area : |
2 Acres |
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Location : |
Owned |
DIRECTORS
AS ON 29.09.2010
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Name : |
Mr. Rajkumar Devichand Agarwal |
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Designation : |
Managing Director |
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Address : |
Janki Niwas, Sector No.25, Plot No.622, Nigdi Pradhikaran, Pune –
411044, |
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Date of Appointment : |
20.11.1997 |
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Name : |
Mr. Vinod Rajkumar Agarwal |
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Designation : |
Whole Time Director |
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Address : |
622/25, PCNT, Nigdi, Pune – 411044, |
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Date of Appointment : |
20.11.1997 |
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Name : |
Mr. Sachin Rajkumar Agarwal |
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Designation : |
Whole Time Director |
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Address : |
Janki Niwas, Sector No.25, Plot No.622, Nigdi Pradhikaran, Pune –
411044, |
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Date of Appointment : |
01.10.2004 |
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Name : |
Mr. Nitin Rajkumar Agarwal |
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Designation : |
Whole Time Director |
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Address : |
Janki Niwas, Sector No.25, Plot No.622, Nigdi Pradhikaran, Pune –
411044, |
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Date of Appointment : |
01.10.2004 |
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Name : |
Mr. Sandeep Rajkumar Agarwal |
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Designation : |
Additional Director |
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Address : |
Plot No.622, Sector No.25, PCNT, Nigdi, Pune – 411044, |
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Date of Birth/Age : |
20.09.1974 |
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Date of Appointment : |
01.11.2009 |
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Name : |
Mr. Surendra Agarwal |
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Designation : |
Additional Director |
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Address : |
Janki Niwas, Sector No.25, Plot No.622, Nigdi Pradhikaran, Pune –
411044, |
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Date of Birth/Age : |
22.04.1976 |
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Date of Appointment : |
01.11.2009 |
KEY EXECUTIVES
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Name : |
Mr. Ravindra Mathuria |
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Designation : |
Accounts Manager |
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Name : |
Mr. Satish |
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Designation : |
Assistant Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
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No. of Shares |
|
Rajkumar Devichand Agarwal |
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99169 |
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Vinod Rajkumar Agarwal |
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10000 |
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Nitin Rajkumar Agarwal |
|
15000 |
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Sachin Rajkumar Agarwal |
|
15000 |
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Sandeep Rajkumar Agarwal |
|
15000 |
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Surendra Rajkumar Agarwal |
|
15000 |
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Total |
|
169169 |
AS ON 29.09.2010
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S. No. |
Category |
Percentage |
|
1 |
Directors or
relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Plastic Packaging |
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Exports : |
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Products : |
Small Quantity Rare |
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Countries : |
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Imports : |
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Products : |
Granules Films |
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Countries : |
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Terms : |
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Selling : |
Depends |
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Purchasing : |
Depends |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees
: |
72 (Approximately) |
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Bankers : |
The Cosmos Co-operative Bank Limited, Chinchwad Branch, 269/270,
Shaniwar Peth, Pune – 411030, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
L B Laddha and Company Chartered Accountant |
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Address : |
Flat no.7 and 8, 2nd Floor, |
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Tel No.: |
91-20-27425966/27420547 |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
90000 |
Equity Shares |
Rs.100/-
each |
Rs.9.000
Millions |
|
79169 |
Equity Shares for Consideration other than cash |
Rs.100/-
each |
Rs.7.916
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
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|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
570.000 |
Expected Sales (2011-2012) : Rs.900.000 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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|
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1] Share Capital |
16.916 |
9.000 |
3.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
27.151 |
28.480 |
23.677 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
44.067 |
37.480 |
26.677 |
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LOAN FUNDS |
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1] Secured Loans |
103.097 |
55.548 |
45.979 |
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2] Unsecured Loans |
22.097 |
23.363 |
3.000 |
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TOTAL BORROWING |
125.194 |
78.911 |
48.979 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
169.261 |
116.391 |
75.656 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
76.356 |
49.327 |
20.885 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.550 |
0.550 |
0.550 |
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DEFERREX TAX ASSETS |
2.110 |
1.002 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
16.770
|
9.931
|
0.000 |
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Sundry Debtors |
70.102
|
57.450
|
41.929 |
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Cash & Bank Balances |
1.398
|
1.672
|
14.681 |
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Other Current Assets |
8.492
|
3.700
|
0.000 |
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Loans & Advances |
10.922
|
14.619
|
10.034 |
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Total
Current Assets |
107.684
|
87.374
|
66.644 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
11.876
|
18.093
|
8.574 |
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Other Current Liabilities |
0.000
|
0.000
|
0.000 |
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Provisions |
5.563
|
3.769
|
3.849 |
|
Total
Current Liabilities |
17.439
|
21.862
|
12.423 |
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Net Current Assets |
90.245
|
65.512
|
54.221 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
169.261 |
116.391 |
75.656 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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TOTAL (A) |
358.895 |
331.675 |
238.450 |
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Less |
EXPENSES |
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TOTAL (B) |
361.167 |
47.884 |
208.451 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
283.791 |
29.999 |
6.054 |
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PROFIT BEFORE
TAX |
(2.272) |
NA |
NA |
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Less |
TAX |
(0.943) |
NA |
NA |
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PROFIT AFTER TAX
|
(1.329) |
4.802 |
1.887 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
NA |
4.181 |
8.046 |
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TOTAL EARNINGS |
NA |
4.181 |
8.046 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(0.37) |
1.45 |
0.79 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(1.23) |
NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
NA |
NA |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
3.24
|
2.68
|
2.30 |
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|
Current Ratio (Current Asset/Current Liability) |
|
6.17
|
3.99
|
5.36 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
|
Particulars |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Rs.
In Millions 31.03.2008 |
|
Sundry Creditors |
12.033
|
9.333 |
8.574 |
|
Sundry Creditors for Capital Goods |
(0.157)
|
8.761 |
0.000 |
OPERATIONS:
The turnover of the company has increased by 20.42% as compared to previous year. The Company incurred a loss of Rs. 1.329 Millions as against a profit of Rs. 4.803 Millions in previous year. The loss incurred is mainly due to escalated depreciation on machineries purchased during the year.
Form 8:
|
Corporate identity number of the company |
U25209MH1997PTC111990 |
|
Name of the company |
PRADEEP
LAMINATORS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Gat No 392 |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable Property |
|
Particular of charge holder |
The Cosmos Co-Operative Bank Limited
(Chinchwad Branch) |
|
Nature of instrument creating charge |
Composite Deed of Further Charge And
Hypothecation Dated 30th November 2010 |
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Date of instrument Creating the charge |
30/11/2010 |
|
Amount secured by the charge |
Rs.220.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Cash Credit: 12% P.A. Presently Applicable Term Loans: 12.5% P.A. Presently
Applicable Letter of Credit: Commission As Per LC
Terms Terms of Repayment Cash Credit: Repayable On Demand / Review
Within 12 Months Term Loans: 84 Months + 12 Months
Moratorium Period Letter Of Credit: As Per Lc Terms / Review
Within 12 Months Margin Cash Credit and Term Loan: 25% In Bank's
Favour Letter Of Credit: 15% In Bank's Favour Extent and Operation of the charge The Charge Will Continue Till Full Repayment
Of The Facilities Enjoyed By Sister Concern Viz. Pradeep Polyflex Private
Limited Others Facilities Enjoyed By Pradeep Polyflex
Private Limited Cash Credit: Rs. 20.000 Millions Term Loan (Land and Building): Rs. 13.000
Millions Term Loan (Machinery): Rs. 117.000
Millions Letter Of Credit(One Time): Rs. 60.000
Millions Letter Of Credit: Rs. 10.000 Millions |
|
Short particulars of the property charged |
Gat No. 392/1 Talegaon-Chakan Road,
Mhalunge (Ingle) Tal. Khed, Dist. Pune 410401 And As More Particularly
Described In Schedule Iv Of The Composite Deed |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U25209MH1997PTC111990 |
|
Name of the
company |
PRADEEP
LAMINATORS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No 392 |
|
Type of charge |
Immovable
Property Movable Property |
|
Particular of
charge holder |
The cosmos
co-operative bank limited chinchwad branch |
|
Nature of
description of the instrument creating or modifying the charge |
Composite deed of
mortgage and hypothecation for creation of further charge dated 20th february
2009 |
|
Date of
instrument Creating the charge |
20/02/2009 |
|
Amount secured by
the charge |
Rs.16.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest: 13.5% P.A.
Presently Applicable Terms of
Repayment Repayment Period:
60 Months Emi: Rs.0.368
Million Margin MARGIN: 25% in
bank's favour Extent and
Operation of the charge The charge will
continue to operate till full repayment of the facility enjoyed by the
company Others FACILITY: Term
Loan (purchase of machinery): Rs.16.000 millions |
|
Short particulars
of the property charged |
Hypothecation Of
Machinery Of The Company Situated At Gat |
FIXED ASSETS:
·
Land and Machinery
·
Factory Building
·
Furniture
·
Air Conditioner
·
Machinery Vehicle
·
Computer and Software
·
Motor Car
·
Xerox Machine
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.44.77 |
|
|
1 |
Rs.73.45 |
|
Euro |
1 |
Rs.64.55 |
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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--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.