MIRA
INFORM REPORT
|
Report Date : |
05.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
CONSUMERS PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, 5-D, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
26.12.1969 |
|
|
|
|
Com. Reg. No.: |
11- 014495 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1969PTCO14495 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB10539E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC3385R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter,
Manufacturer and Supplier of thermoplastic products such as PVC
Flexible Pipes, Profiles, Suction Hoses Medium Duty, Braided Hoses, Pipes,
HDPE, Corrugated Pipes, Suction Hoses Heavy Duty etc |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 93000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Vinay Gandhi |
|
Designation : |
Marketing Executive |
|
Date : |
21.02.2011 |
LOCATIONS
|
Registered Office : |
1st Floor, 5-D, |
|
Tel. No.: |
91-22-67200700 / 28216334 / 6335 |
|
Fax No.: |
91-22-67200710 / 28216336 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Located at : Vapi in |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Gulabrai Vrajdas Gandhi |
|
Designation : |
Director |
|
Address : |
21, Vallabh Apartments, 87, |
|
Date of Birth/Age : |
05.08.1928 |
|
Date of Appointment : |
26.12.1969 |
|
DIN NO.: |
00642353 |
|
|
|
|
Name : |
Mr. Pradeep Gulabrai Gandhi |
|
Designation : |
Director |
|
Address : |
21, Vallabh Apartments, 87, |
|
Date of Birth/Age : |
11.07.1959 |
|
Date of Appointment : |
16.03.1978 |
|
DIN NO.: |
00642408 |
|
|
|
|
Name : |
Mr. Ajay Gulabrai Gandhi |
|
Designation : |
Director |
|
Address : |
B-252, Grand Paradi, |
|
Date of Birth/Age : |
19.04.1957 |
|
Date of Appointment : |
16.12.1977 |
|
DIN NO.; |
01633803 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
Shri GulabraiV.Gandhi and Smt Shantaben G. Gandhi |
|
1 |
|
Smt Shantaben G. Gandhi and Shri Gulabrai V. Gandhi |
|
100 |
|
Shri Ajay G. Gandhi and Smt. Aarti A, Gandhi |
|
494 |
|
Shri Pradeep G Gandhi and Smt. Chhaya P. Gandhi |
|
100 |
|
Smt. Jayashree S, Morzaria and Shri Subhash K.Morzaria |
|
1 |
|
Smt. Aarti A Gandhi and Shri Ajay G, Gandhi |
|
200 |
|
Shri Ajay G. Gandhi (H.U.F) and Smt.Aarti A. Gandhi |
|
150 |
|
Shri Pradeep G Gandhi (H.U.F) and Smt. Chhaya P. Gandhi |
|
149 |
|
Shri Vinay P Gandhi and Smt, Chhaya P. Gandhi |
|
1 |
|
Smt Chhaya P. Gandhi and Shri Pradeep G. Gandhi |
|
1 |
|
Shamit Ajay Gandhi and Smt.Aarti A. Gandhi |
|
1 |
|
Miss Heeral P Gandhi and Shri Pradeep G, Gandhi |
|
1 |
|
Shri. Rahul S. Morzaria Smt.Jayashree S.Morzaria |
|
1 |
|
Smt. Maniben G, Somaiya Shri Gulabhai V. Gandhi |
|
1 |
|
Sharmit Ajay Gandhi and Shri Ajay A. Gandhi |
|
299 |
|
TOTAL |
|
1500 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter,
Manufacturer and Supplier of thermoplastic products such as PVC Flexible
Pipes, Profiles, Suction Hoses Medium Duty, Braided Hoses, Pipes, HDPE,
Corrugated Pipes, Suction Hoses Heavy Duty etc |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
|
|
Actual
Production |
|
|
|
|
|
|
|
Plastics Pipes |
Mtrs. |
|
|
480081 |
|
Epoxy Chemicals |
Kgs. |
|
|
1320755 |
GENERAL INFORMATION
|
Bankers : |
State Bank of |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ladhawala and Shah Chartered Accountant |
|
Address : |
Maitri Heights, 1st Floor, 74, Bhaudaji Road, Matunga C.
R., Mumbai – 400019, Maharashtra, India |
|
|
|
|
Memberships : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs. 100/-each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500 |
Equity Shares |
Rs.
100/-each |
Rs. 0.150
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 |
0.150 |
0.150 |
0.150 |
|
|
2] Share Application Money |
0.000 |
0.00 |
0.000 |
|
|
3] Reserves & Surplus |
23.204 |
23.367 |
22.333 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
23.354 |
23.517 |
22.483 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11.766 |
7.681 |
3.811 |
|
|
2] Unsecured Loans |
17.640 |
9.369 |
1.796 |
|
|
TOTAL BORROWING |
29.406 |
17.050 |
5.607 |
|
|
DEFERRED TAX LIABILITIES |
0.543 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
53.303 |
40.567 |
28.090 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.045 |
12.065 |
4.412 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.182 |
11.404 |
10.404 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.000
|
7.313 |
6.836 |
|
|
Sundry Debtors |
24.653
|
18.907 |
10.805 |
|
|
Cash & Bank Balances |
0.712
|
0.087 |
0.436 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.221
|
4.590 |
5.174 |
|
Total
Current Assets |
45.586
|
30.897 |
23.251 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.858
|
12.226 |
5.721 |
|
|
Current Liabilities |
1.188
|
1.133 |
1.211 |
|
|
Provisions |
0.464
|
0.440 |
3.045 |
|
Total
Current Liabilities |
12.510
|
13.799 |
9.977 |
|
|
Net Current Assets |
33.076
|
17.098 |
13.274 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
53.303 |
40.567 |
28.090 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
83.686 |
63.776 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
123.018 |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
NA |
NA |
|
|
|
Administrative Expenses |
|
NA |
NA |
|
|
|
Advertising Expenses |
|
NA |
NA |
|
|
|
Financial Expenses |
|
NA |
NA |
|
|
|
TOTAL |
120.043 |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.975 |
2.852 |
10.482 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.854 |
1.378 |
0.704 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.121 |
1.474 |
9.778 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.741 |
0.440 |
3.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
0.380 |
1.034 |
6.733 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
5.422 |
Nil
|
Nil
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
253.33 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.31
|
-- |
-- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
1.76 |
15.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.91
|
3.43 |
35.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.06 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.79
|
1.31 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.64
|
2.24 |
2.33 |
LOCAL AGENCY FURTHER INFORMATION
NOTES
Registered office of the company has been shifted from Nariman Point,
Mumbai – 400021,
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U25200MH1969PTC014495 |
|
Name of the
company |
CONSUMERS
PLASTICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1st
Floor, 5-D, |
|
This form is for |
Creation
of charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
State Bank Of |
|
Nature of
instrument creating charge |
Agreement Of
Loan-Cum-Hypothecation. SME-2 |
|
Date of instrument
Creating the charge |
29.06.2009 |
|
Amount secured by
the charge |
Rs.18.500 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
a. Rate of
Interest Demand Cash Credit (Stock/Book Debts) Rs.
12.000 Millions - 13.25% Payable Monthly. Letter of Credit Rs. 6.000 Millions Bank Guarantee Rs. 0.500 Millions b. Terms of Repayment As per the Sanction terms. c.
Margin Raw Materials;
Imported ) 25% Indigenous ) Semi Finished
Goods 40% Finished
Goods 33.33% Domestic
Receivables 40% Letters Of
Credit 20% Bank
Guarantee 25% d. Extent and Operation of the charge As per the
Sanction terms e. Others
N.A |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Entire Current
Assets of the company including PVC resin, PVC Pipes other Chemicals /
consumables / Spares / Packing Material |
FIXED ASSETS
·
Land
·
·
Godown Premise
·
Plant and Machinery
·
Cooling Equipments
·
Electricity Installations
·
Factory Equipments
·
Dies and Moulds
·
Furniture and Fixtures
·
Office Equipments
·
Computers
·
Motor Car
·
Scooter
·
Air Conditioner
AS PER WEB SITE DETAILS:
Profile:
Subject
is a Billion Group Company, in the fore front of processing
thermoplastics for the last four decades. Committed to excellence and known for
reliability the company with its wide range of Billion brand PVC suction hoses
and ISI mark HDPE pipes has been serving a highly diverse customer base in
different fields like agriculture, mining, chemical, electrical and building
industries.
Maintaining
its tradition of quality, Consumers Plastics Private Limited in 2004,
diversified into manufacturing high quality Epoxy plasticizer- Oxymoll, and
today has an installed capacity of 2000 MT per annum at its state of the art
plant at Vapi in
Adherence to stringent quality control
measures; well equipped laboratory manned by competent and highly qualified
technicians for testing of both raw materials and finished products has made
Oxymoll a trustworthy additive and is consistently used by quality conscious
manufacturers of PVC films, cables, profiles, compounds, chlorinated paraffin
wax, nitrile cellulose rubber etc all over India and exported too.
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.44.99 |
|
|
1 |
Rs.73.24 |
|
Euro |
1 |
Rs.62.80 |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
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.