MIRA
INFORM REPORT
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Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
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Name : |
RAJIV PLASTIC INDUSTRIES |
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Registered Office : |
A-12, Nand Bhuvan Industrial Estate, Mahakali Caves Road, Andheri
(East), Mumbai – 400093, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
April 1967 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR00255D MUMR12045F |
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PAN No.: [Permanent
Account No.] |
AAAFR1300C AAAFR0197D |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer of Color Master Batches and Concentrates for Commodities
as well as Engineering Thermoplastics. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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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 400000 |
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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 partnership concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. The concern can be considered normal for business dealing 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
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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
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Name : |
Mr. Deepak Bajaj |
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Designation : |
Finance Manager |
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Contact No.: |
91-9323612977 |
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Date : |
04.03.2011 |
LOCATIONS
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Registered Office : |
A-12, Nand Bhuvan Industrial Estate, Mahakali Caves Road, Andheri
(East), Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-66929701 |
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Mobile No.: |
91-9323612977 (Deepak Bajaj) |
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Fax No.: |
91-22-66929705 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. Ft. |
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Location : |
Owned |
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Factory : |
Survey No. 260/7/1/1, Demril Road, Village Silvasa, Dadra Nagar Haveli
– 346191, Uttar Pradesh, India |
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Area : |
10000 Sq. Ft. |
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Location : |
Owned |
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Factory : |
B - 8, Nand Bhuvan Industrial Estate, Mahakali Caves Road, Andheri (East),
Mumbai – 400093, Maharashtra, India |
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Area : |
5500 Sq. Ft. ( so total area is 7500 Sq. Ft.) |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Manish Minocha |
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Designation : |
Partner |
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Date of Birth/Age : |
39 Years |
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Qualification : |
B. Com |
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Experience : |
14 years |
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Name : |
Mr. Hemant Minocha |
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Designation : |
Partner |
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Date of Birth/Age : |
33 Years |
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Qualification : |
B. E |
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Experience : |
10 Years |
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Name : |
Mr. Sumit Minocha |
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Designation : |
Partner |
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Date of Birth/Age : |
29 Years |
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Qualification : |
MBA |
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Experience : |
8 Years |
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Name : |
Mr. Inder Minocha |
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Designation : |
Partner |
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Date of Birth/Age : |
58 Years |
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Qualification : |
MA |
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Experience : |
38 Years |
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Name : |
Mrs. Pushpa Rani Minocha |
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Designation : |
Partner |
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Date of Birth/Age : |
54 Years |
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Qualification : |
Graduate |
KEY EXECUTIVES
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Name : |
Mr. Deepak Bajaj |
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Designation : |
Finance Manager |
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Tel. No: |
91-9323612977 |
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E-Mail : |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Color Master Batches and Concentrates for Commodities as
well as Engineering Thermoplastics. |
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Brand Names : |
“Akurate” |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
L/C, Cash and Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
HDFC Bank, |
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Facilities : |
Cash Credit |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Shah and Taparia Chartered Accountants |
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Address : |
403, Camjay Apartment |
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Tel. No.: |
91-22-28265969 |
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Associates/Subsidiaries : |
Address: Mumbai Line of Business : Trader and
Distributor of L.G.
Address: Line of Business: Manufacturer of
Master Batches
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.100.000 Millions (Approximately) |
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Borrowed : |
-- |
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Total : |
Rs.100.000 Millions (Approximately) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Sales Turnover |
700.000 |
550.000 |
500.000 |
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Expected Sales (2010-2011): Rs.1000.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- Supreme Plastic Limited, Mumbai
- NIlkamal Plastic Limited, Mumbai
WEBSITE DETAILS:
Profile:
Subject is one of
RPI uses the latest technologies in Machinery, R and D, and Materials coupled with a wealth of talent and experience to stay ahead.
Here are a few quick facts on who they are and what they do:
- Established in 1978 : Celebrating 30 years of dedicated service
- 3 manufacturing facilities with an installed capacity of 18000 MTPA
- Only Master batch manufacturer in Asia with the capability of manufacturing resin specific master batches for over 32 different resins which includes engineering plastics such as PC, PMMA, PA 6, PA 6-6, SAN, ABS, PES, etc.
- Over 1200 customers in more than 40 different countries
- Approved vendors to Multinational Companies in the Household Products, Electrical Appliances, Consumer Products, Construction and Automotive and Automotive OEM segments.
- ISO 9001:2000 certified and professionally run.
- Recognized by the Government of India as a prestigious Star Export House.
- Their brand “Akurate” synonymous with our commitment to Quality, Consistency and Reliability.
Subject uses the latest technologies in Machinery, R and D, and Materials coupled with a wealth of talent and experience to stay ahead.
Specialize in:
- Color and Additive Master batches for Commodity Plastics
- Color and Additive Master batches for Engineering Plastics
- Polymer Compounds and Polymer Alloys
- Pre-colored Engineering Compounds
- Toll Compounding
MILESTONE :
In 1978, SUBJECT was founded as a custom compounding
facility to serve the coloring needs of polymer processors in
They are still offering toll compounding services that formed the foundation of their company. But the SUBJECT of today is now an international company of global repute in the production of Masterbatches and Compounds. They have grown from one small unit to three large manufacturing locations and have alliances with leading polymer processors in several locations around this world.
Some of the key milestones in thier history are
as follows:
1978 SUBJECT was founded as a small unit offering color compounding services. Most polymers compounded are PS, PA, PC, POM, PBT, etc.
1984 Succeeds in the manufacturing of its first lot of masterbatches and approaches Indian polymer consumers with this new concept of coloring plastics.
1986 Consumption of Masterbatches increases in Indian markets. SUBJECT ramps up production by adding production capacity.
1988 SUBJECT invests in state of the art laboratory and color matching equipment. Recognizes the need of added human resources.
1989 Major Polyolefin manufacturer opens plant
in
1992 Gains wide
recognition and acceptance from markets in
1994 SUBJECT goes
on the internet. First polymer processing company in
1995 First lot of
masterbatches exported to
1996 Successful expansion accomplished to manufacture Polymer Compounds, Polymer Alloys and Blends
1997 Heavy investments in upgrading laboratory and R and D center. Awarded ISO 9002 certification.
1999 New plant set up in the special economic zone of Silvassa (200 Kms North of Mumbai) with state of the art mega compounder extruders and QC equipment.
2000 SUBJECT is recognized in various trade journals and magazines such as Modern Plastics International as an upcoming global contender in the world of Masterbatches. Wide recognition received on many e-business portals.
2003 Influx of various multinational
corporations from Electrical, Electronics and Automotive fields in
2005 Engineering Plastics masterbatches
requirements in
2006 Launch of a wide spread marketing program. Registered record export sales. Received status of Star Export House from Government of India.
2007 New plant in Chakan - Pune (200 Kms East of Mumbai) set up with capability of 10000 MTPA production capacity.
2008 Rajiv Plastics Limited gets approved as a certified Tier 2 vendor to leading automotive companies such as GM, Tata, Bajaj, Volkswagen, Renault, etc.
2009 Recertified for the latest ISO standard i.e. ISO 9001:2008. they continue to be a leading solution provider for pre-colored compounds, commodity and engineering plastic masterbatches. Widespread recognition received through various participations at trade shows, seminars and lectures.
2010 Rajiv, in collaboration with a leading
science and technology firm in
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.99 |
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1 |
Rs.73.23 |
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Euro |
1 |
Rs.62.80 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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50 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.