MIRA
INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
HBD PACKAGING PRIVATE LIMITED |
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Registered
Office : |
A-25, Friends Colony (East), New Delhi-110065, Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
02.03.1985 |
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Com. Reg. No.: |
55-020318 |
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Capital
Investment / Paid-up Capital : |
Rs.19.998 millions |
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CIN No.: [Company Identification
No.] |
U74899DL1985PTC020318 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH03777E |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturers of folding
box board cartons, printing literature and labels for packing |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 280000 |
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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. 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
|
Registered Office : |
A-25, Friends Colony (East), New Delhi-110065, Delhi, India |
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E-Mail : |
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Factory 1 : |
19, Udhyog Kendra
Industrial Area, Greater Noida 201306, Uttar Pradesh, India |
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Tel. No.: |
91-120-2350740 |
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Fax No.: |
91-120-2350744 |
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E-Mail : |
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Location : |
Owned |
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Factory 2 : |
C-40, Okhla
Industrial Area, Phase II, New Delhi – 11020, India |
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Tel. No.: |
91-11-26383070 /
26383072 |
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Fax No.: |
91-11-26384638 |
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E-Mail : |
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Location : |
Owned |
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Factory 3 : |
Baddi, District
Solan Himachal Pradesh, India |
DIRECTORS
AS ON 18.08.2010
|
Name : |
Mr. Rajiv
Bhargava |
|
Designation : |
Director |
|
Address : |
R/o A-25, Kailash
Colony, New Delhi – 110048, India |
|
Date of Appointment : |
02/03/1985 |
|
Identity Card No.: |
DL/02/008/282368 |
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DIN No : |
00296301 |
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Name : |
Mr. Neeraj Bhargava
|
|
Designation : |
Director |
|
Address : |
R/o A-25, New
Friends Colony, New Delhi – 110065, India |
|
Date of Appointment : |
15.02.1994 |
|
Identity Card No.: |
DL/02/006/156663 |
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DIN No : |
00311216 |
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|
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Name : |
Mr. V N Bhargava |
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Designation : |
Director |
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Address : |
R/o Prabhu Niwas,
Vijaya Nagar, Lucknow 226004, India |
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Date of Appointment : |
24.02.1999 |
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Identity Card No.: |
DL/02/006/156676 |
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DIN No : |
00086527 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.08.2010
|
Names of Shareholders |
No. of Shares |
|
V N Bhargava |
30010 |
|
Rajiv Bhargava |
42900 |
|
Neeraj Bhargava |
28000 |
|
Pratima Bhargava |
16900 |
|
Ravindra Bhargava |
11250 |
|
Neera Bhargava |
50 |
|
Rekha Bhargava |
250 |
|
Rashmi Bhargava |
50 |
|
Ranjana Bhargava |
250 |
|
S N Bhargava HUF |
2850 |
|
V N Bhargava, S N Bhargava, Rajiv Bhargava Joint |
1180 |
|
Ritu Bhargava |
38750 |
|
Nalini Bhargava |
100 |
|
Ruchi Bhargava |
2000 |
|
Seema Bhargava |
10000 |
|
Neeraj Bhargava HUF |
5 |
|
Rajiv Bhargava HUF |
10 |
|
Shobhit Bhargava |
5010 |
AS ON 18.08.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.90 |
|
Other top fifty shareholders |
0.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
folding box board cartons, printing literature and labels for packing |
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Products : |
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GENERAL INFORMATION
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Bankers : |
·
Union Bank of India ·
Standard Chartered Bank, 10, Parliament Street,
New Delhi-110001, Delhi, India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Arun Deepak and Company Chartered Accountant |
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Address : |
154, Madhuvan
Chowk, Delhi 110092, India |
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Tel. No.: |
91-11-22507126 |
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 |
|
|
|
|
|
|
199980 |
Equity Shares |
Rs.100/-
each |
Rs. 19.998
Millions |
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|
|
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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 |
19.998 |
19.998 |
19.998 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
51.188 |
40.304 |
29.099 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
71.186 |
60.302 |
49.097 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
40.011 |
57.663 |
85.372 |
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2] Unsecured Loans |
84.517 |
78.217 |
83.215 |
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TOTAL BORROWING |
124.528 |
135.880 |
168.587 |
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|
DEFERRED TAX LIABILITIES |
6.918 |
7.078 |
7.893 |
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TOTAL |
202.632 |
203.260 |
225.577 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
151.884 |
145.204 |
150.783 |
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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 |
|
|
|
|
|
|
Inventories |
18.796
|
16.360 |
18.100 |
|
|
Sundry Debtors |
52.036
|
56.116 |
84.483 |
|
|
Cash & Bank Balances |
2.455
|
1.670 |
1.797 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
17.201
|
19.863 |
13.903 |
|
Total
Current Assets |
90.488
|
94.009 |
118.283 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.236
|
20.267 |
33.725 |
|
|
Other Current Liabilities |
7.083
|
8.536 |
4.286 |
|
|
Provisions |
6.421
|
7.150 |
5.478 |
|
Total
Current Liabilities |
39.740
|
35.953 |
43.489 |
|
|
Net Current Assets |
50.748
|
58.056 |
74.794 |
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
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|
|
|
TOTAL |
202.632 |
203.260 |
225.577 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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|
SALES |
|
|
|
|
|
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|
Income |
346.467 |
286.093 |
224.470 |
|
|
|
Other Income |
0.729 |
0.773 |
51.845 |
|
|
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TOTAL (A) |
347.196 |
286.866 |
276.315 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
241.261 |
195.827 |
158.556 |
|
|
|
Establishment Expenses |
25.554 |
17.226 |
12.370 |
|
|
|
Administrative Expenses |
25.476 |
22.746 |
15.912 |
|
|
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TOTAL (B) |
292.291 |
235.799 |
186.838 |
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
54.905 |
51.067 |
89.477 |
|
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|
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|
Less |
FINANCIAL
EXPENSES (D) |
16.678 |
17.147 |
20.994 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.227 |
33.920 |
68.483 |
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
20.030 |
21.858 |
23.892 |
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PROFIT BEFORE
TAX (E-F) (G) |
18.197 |
12.062 |
44.591 |
|
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Less |
TAX (I) |
(7.313) |
(0.858) |
(4.758) |
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|
PROFIT AFTER TAX
(G-I) (J) |
10.884 |
11.204 |
39.833 |
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IMPORTS |
|
|
|
|
|
|
|
Plant and Machinery |
16.769 |
1.655 |
NA |
|
|
|
Computer Software |
0.535 |
0.000 |
NA |
|
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|
Raw Material |
0.000 |
0.005 |
NA |
|
|
TOTAL IMPORTS |
17.304 |
1.660 |
NA |
|
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|
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|
Earnings Per
Share (Rs.) |
54.42 |
56.03 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.13
|
3.91 |
14.41 |
|
|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
5.25
|
4.22 |
19.87 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.51
|
5.04 |
16.57 |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.20 |
0.91 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.40
|
2.97 |
4.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.28
|
2.61 |
2.72 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
of the company has been shifted from C-40, Okhla Industrial Area, Phase II, New Delhi – 11020, India to the present
address w.e.f. 28.03.2008
PERFORMANCE
The company has achieved turnover of Rs.346.500 millions during the
financial year. Profit after Depreciation and Taxation amounted to Rs. 10.900
millions. The management is hopeful that the performance of the company will
improve in near future and profitability of the company in the coming years.
FORM 8
|
Corporate
identity number of the company |
U74899DL1985PTC020318 |
|
Name of the
company |
HBD PACKAGING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-25, Friends Colony (East), New Delhi-110065, Delhi, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Standard Chartered Bank, 10, Parliament Street, New Delhi-110001,
Delhi, India |
|
Nature of
instrument creating charge |
memorandum
of entry . |
|
Date of
instrument Creating the charge |
28.03.2011 |
|
Amount secured by
the charge |
Rs. 109.610 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Extent and
operation of the charge Extent and Opeation-100% |
|
Short particulars
of the property charged (Including location of the property) |
Equitable
mortgage by way of first charge over company's immovable property bearing
Plot No. 19, Udyog Kendra, Greater Noida Uttar Pradesh Together with all
buildings and Structures thereon or to be thereon. |
FIXED ASSETS
·
Air Conditioner
·
Computer
·
Furniture and Fixtures
·
Generators
·
Lift
·
Scooter and Cycles
·
Building
·
Dies
·
Plant and Machinery
·
Fire systems
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.45.10 |
|
|
1 |
Rs.71.87 |
|
Euro |
1 |
Rs.63.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.