MIRA
INFORM REPORT
|
Report Date : |
22.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHULIWAL CONTAINERS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 3, Khasra No. 957, Village Kirar Nangloi, New Delhi - 110
041, Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
25.09.1997 |
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Com. Reg. No.: |
55-089861 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.499 million |
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CIN No.: [Company Identification
No.] |
U74899DL1997PTC089861 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELC05047A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Cosmetic and Pharmaceutical Containers |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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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 5000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. It’s scale of activities are
limited. 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 for small 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. Shyam Saini |
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Designation : |
Director |
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Contact No.: |
91-9350504753 |
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Date : |
20.06.2011 |
LOCATIONS
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Registered Office : |
Plot No. 3, Khasra No. 957, Village Kirar Nangloi, |
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Mobile No.: |
91-9350504753 (Mr. Shyam) |
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E-Mail : |
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Location : |
Owned |
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Corporate Office : |
B - 608, B-90, ITL Twin Tower, Netaji Subhash Palace, Pitampura, New
Delhi 110 034, India |
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Tel. No.: |
91-11-39254156 / 27915139 / 47002120 / 30954156 |
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Fax No.: |
91-11-27915139 / 47002120 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Manish Saini |
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Designation : |
Director |
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Address : |
D-100, Deepali, Pritampura, |
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Date of Birth/Age : |
29.08.1976 |
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Date of Appointment : |
25.09.1997 |
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DIN No : |
00810937 |
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Name : |
Mr. Shyam Saini |
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Designation : |
Director |
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Address : |
D-100, Deepali, Pritampura, |
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Date of Birth/Age : |
28.02.1975 |
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Date of Appointment : |
25.09.1997 |
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DIN No : |
00810950 |
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Name : |
Mr. Dinesh Saini |
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Designation : |
Director |
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Address : |
D-100, Deepali, Pritampura, |
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Date of Birth/Age : |
27.02.1974 |
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Date of Appointment : |
25.09.1997 |
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DIN No : |
00810923 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Manish Saini |
9010 |
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Shyam Saini |
5010 |
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Mewaram Saini |
10010 |
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Dinesh Saini |
5000 |
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Prem Chand Saini |
8500 |
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Archana Saini |
8350 |
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Kiran Saini |
3850 |
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Seema Saini |
100 |
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Darshan Saini |
100 |
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Dinesh Saini Joint with Anuradha |
10 |
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Total |
49940 |
AS ON 30.09.2010
|
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 : |
Manufacturer of Cosmetic and Pharmaceutical Containers |
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Products : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
·
End Users ·
OEM’s ·
Shahnaz Hussain Group of Companies ·
Jolen International ·
Dabur India Limited ·
Shakti Bhog Foods Limited ·
Ozen Ayurvedics ·
Baidnath |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
·
Small Industries Development Bank of India, Videocon
Tower, Ground Floor, E-1, Rani Jhansi Road, Jhandewalan Extension, New
Delhi-110055, Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Babulal Gupta and Company Chartered Accountant |
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Address : |
A-5/101, Yogi Dham, Yogi Nagar, Borivali (West), Mumbai-400091,
Maharashtra, India |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
49940 |
Equity Shares |
Rs.10/- each |
Rs. 0.499
Million |
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AS ON 30.09.2010
Authorised Capital : Rs. 3.000 millions
Issued, Subscribed & Paid-up Capital : Rs. 2.838
millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.499 |
0.499 |
0.499 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.842 |
0.452 |
0.094 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.341 |
0.951 |
0.593 |
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LOAN FUNDS |
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1] Secured Loans |
1.894 |
1.035 |
0.756 |
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2] Unsecured Loans |
1.299 |
1.469 |
1.489 |
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TOTAL BORROWING |
3.193 |
2.504 |
2.245 |
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DEFERRED TAX LIABILITIES |
0.668 |
0.740 |
0.746 |
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TOTAL |
5.202 |
4.195 |
3.584 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.079 |
3.523 |
3.769 |
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Capital work-in-progress |
0.000 |
0.000 |
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 |
1.136
|
0.557 |
0.258 |
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Sundry Debtors |
1.463
|
1.221 |
0.906 |
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Cash & Bank Balances |
0.216
|
0.162 |
0.012 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.308
|
1.012 |
0.345 |
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Total
Current Assets |
3.123
|
2.952 |
1.521 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.093
|
0.907 |
0.794 |
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Other Current Liabilities |
0.767
|
1.186 |
0.787 |
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Provisions |
0.140
|
0.187 |
0.125 |
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Total
Current Liabilities |
2.000
|
2.280 |
1.706 |
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Net Current Assets |
1.123
|
0.672 |
(0.185) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.202 |
4.195 |
3.584 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
9.349 |
9.309 |
7.994 |
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Other Income |
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TOTAL |
9.349 |
9.309 |
7.994 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Financial |
8.954 |
8.896 |
7.644 |
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Depreciation |
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Advertising Expenses |
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TOTAL |
8.954 |
8.896 |
7.644 |
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PROFIT BEFORE
TAX |
0.395 |
0.413 |
0.350 |
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Less |
TAX |
(0.006) |
(0.055) |
(0.062) |
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PROFIT AFTER TAX
|
0.389 |
0.358 |
0.288 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.452 |
0.094 |
(0.194) |
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BALANCE CARRIED
TO THE B/S |
0.841 |
0.452 |
0.094 |
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Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
10.000 |
9.300 |
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The above information has been parted by Mr. Shyam Sini.
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
4.16
|
3.85 |
3.60 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.48
|
6.38 |
6.62 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.43 |
0.59 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.37
|
5.81 |
7.92 |
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Current Ratio (Current Asset/Current Liability) |
|
1.56
|
1.29 |
0.89 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate
identity number of the company |
U74899DL1997PTC089861 |
|
Name of the
company |
CHULIWAL
CONTAINERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 3, Khasra No. 957, Village Kirar Nangloi, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
Small Industries Development Bank of India, Videocon Tower, Ground
Floor, E-1, Rani Jhansi Road, Jhandewalan Extension, New Delhi-110055, Delhi,
India |
|
Nature of
instrument creating charge |
Deed of hypothecation
dated 08.02.2011. Declaration and
undertaking dated 08.02.2011 for equitable mortgage of Plot No.1846,
Industrial Estate, Rai, Sonpet, Haryana. |
|
Date of
instrument Creating the charge |
08.02.2011 |
|
Amount secured by
the charge |
Rs. 6.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 11.75% p.a. with
monthly rests on term loan outstanding from time to time. Terms of repayment The loan shall be
repaid by the borrower to sidbi in 60 equal monthly installments of Rs. 0.100
million each commencing after a moratorium of twelve months from the date of
first disbursement of the loan as per the repayment Margin Rs. 3.500
millions comprising of Rs. 1.200 millions as interest free unsecured loan and
Rs. 2.300 millions share capital. Extent and operation of the charge All movable
assets, both present and future of the company. |
|
Short particulars
of the property charged (Including location of the property) |
Movable assets
including plant and machinery, equipment, misc. fixed assets acquired to be
acquired under project. |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
yes |
|
If yes, in whose
name it is registers |
Chuliwal Plast
Private Limited |
FIXED ASSETS:
- Plant and Machinery
- Computers
- Air Conditioner
- Electrical Installation
- Furniture and Fixtures
- Motor Car
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.91 |
|
|
1 |
Rs.72.89 |
|
Euro |
1 |
Rs.64.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.