1. Summary Information
|
|
|
Country |
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Company Name |
WINLEY PLOYMERS PRIVATE LIMITED |
Principal Name 1 |
Mr. Pramod Fulchand Sancheti |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Shobha Pramod Sancheti |
|
|
|
Registration # |
11-122803 |
|
Street Address |
N – 59, MIDC Area, Jalgaon – 425003, |
||
|
Established Date |
26.11.1999 |
SIC Code |
-- |
|
Telephone# |
91-257-2213399/ 2272988 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-257-2213399 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
PET Preforms/Caps. |
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.8,000,000 /- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors 85.12% Others - 14.88% |
Banking |
Oriental Bank of Commerce |
|
Public Limited Corp. |
No |
Business Period |
11 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (31) |
|
Related
Company |
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Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
14,152,000 |
Current Liabilities |
6,147,000 |
|
Inventories |
5,297,000 |
Long-term Liabilities |
23,042,000 |
|
Fixed Assets |
21,375,000 |
Other Liabilities |
-- |
|
Deferred Assets |
0,000,000 |
Total Liabilities |
29,189,000 |
|
Invest& other Assets |
3,183,000 |
Retained Earnings |
6,818,000 |
|
|
|
Net Worth |
14,818,000 |
|
Total Assets |
44,007,000 |
Total Liab. & Equity |
44,007,000 |
|
Total Assets (Previous Year) |
39,560,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
WINLEY POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
N – 59, MIDC Area, Jalgaon – 425003, |
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Country : |
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|
|
|
Financials (as on) : |
31.03.2010 |
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|
|
|
Date of Incorporation : |
26.11.1999 |
|
|
|
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Com. Reg. No.: |
11-122803 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U25209MH1999PTC122803 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
NSKW00098A |
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|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer of PET Preforms/Caps. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 59000 |
|
|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small to mediocre 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 |
LOCATIONS
|
Registered Office : |
N – 59, MIDC Area, Jalgaon – 425003, |
|
Tel. No.: |
91-257-2213399/ 2272988 |
|
Fax No.: |
91-257-2213399 |
|
E-Mail : |
DIRECTORS
As on : 30.09.2010
|
Name : |
Mr. Pramod Fulchand Sancheti |
|
Designation : |
Director |
|
Address : |
18, “Waves and Winds”, |
|
Date of Birth/Age : |
30.04.1961 |
|
Date of Appointment : |
26.11.1999 |
|
|
|
|
Name : |
Mrs. Shobha Pramod Sancheti |
|
Designation : |
Director |
|
Address : |
18, “Waves and Winds”, |
|
Date of Birth/Age : |
01.05.1959 |
|
Date of Appointment : |
26.11.1999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Pramod f. Sancheti |
|
315800 |
|
Shobha Pramod Sancheti |
|
282196 |
|
Ritika Pramod Sancheti |
|
25064 |
|
Poras Pramod Sancheti through guardian Mr. Pramod Sancheti |
|
11940 |
|
Anil Phulchand Sancheti |
|
46000 |
|
Pramod Phulchand Sancheti (HUF) |
|
119000 |
|
|
|
|
|
Total |
|
800000 |
As on : 30.09.2010
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
85.12 |
|
Others |
|
14.88 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
GENERAL INFORMATION
|
Customers : |
·
Cabisco Plast Private Limited ·
J.R.D. Corporation ·
Carson Exports Private Limited ·
·
Omkar Sales Private Limited ·
Jalaram Packaging ·
Parth Impex ·
Shah Exports ·
Shri Sai Pet Engineering’s ·
Soyo Systems ·
Vishakha Enterprisres Jalgaon ·
Velji Dosabhai And Sons Private Limited ·
Morya Trading Company |
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Suppliers : |
·
Aditya Polymers ·
A.N. Fabricators ·
Amrut Minerals Water Industries ·
Adeshwar Corporation ·
Akshat Corporation ·
Essen Products India Limited ·
Eco Industries Prusty Internationsla ·
Q-Power Limited ·
Raj Minerals Incorporation ·
Mahanta fruit Processors Private Limited ·
Nagpur Ployfilms Private Limited ·
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Bankers : |
·
Oriental Bank of Commerce |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
Kailas B. Thakare and Company Chartered Accountant |
|
Address : |
107, First Floor, New B J Market, Jalgaon – 425001, |
|
Tel No.: |
91-257-2226340 |
|
Pan No.: |
ABWPT0135A |
|
|
|
CAPITAL STRUCTURE
As on : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 Millions |
|
|
|
|
|
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 |
8.000 |
8.000 |
5.307 |
|
|
2] Share Application Money |
0.000 |
0.000 |
1.263 |
|
|
3] Reserves & Surplus |
6.818 |
4.128 |
3.317 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
14.818 |
12.128 |
9.887 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
20.926 |
20.561 |
18.077 |
|
|
2] Unsecured Loans |
2.116 |
0.250 |
1.045 |
|
|
TOTAL BORROWING |
23.042 |
20.811 |
19.122 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
1.739 |
1.210 |
|
|
|
|
|
|
|
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TOTAL |
37.860 |
34.678 |
30.219 |
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|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
21.375 |
17.806 |
13.376 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.183 |
3.185 |
2.870 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.297
|
4.932
|
7.009 |
|
|
Sundry Debtors |
8.676
|
9.679
|
8.370 |
|
|
Cash & Bank Balances |
0.333
|
0.432
|
0.803 |
|
|
Other Current Assets |
1.339
|
3.036
|
2.377 |
|
|
Loans & Advances |
3.804
|
0.490
|
0.071 |
|
Total
Current Assets |
19.449
|
18.569
|
18.630 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
6.147
|
4.882
|
4.657 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
6.147
|
4.882
|
4.657 |
|
|
Net Current Assets |
13.302
|
13.687
|
13.973 |
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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|
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TOTAL |
37.860 |
34.678 |
30.219 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
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NET PROFIT FOR
THE PERIOD |
2.426 |
1.352 |
0.752 |
|
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Add : |
SUBSIDIARY
RECEIVED FROM D.I.C. |
0.264 |
0.528 |
0.528 |
|
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|
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Less: |
BONUS SHARES
ALLOTTED |
NIL |
1.070 |
NIL |
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AMOUNT OF
SURPLUS BROUGHT FORWARD FROM PREVIOUS YEAR |
4.127 |
3.317 |
2.036 |
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BALANCE CARRIED
TO BALANCE SHEET |
6.818 |
4.127 |
3.317 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.96
|
2.12
|
2.41 |
|
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|
|
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|
|
Current Ratio (Current Asset/Current Liability) |
|
3.16
|
3.80
|
4.00 |
LOCAL AGENCY FURTHER INFORMATION
Prospectus For
Current Year :
As previous Year they have decided to enter for sully of packaging in
Pharmaceutical Industry.
This year they have ordered for ASB Machines to manufacture the world class
bottles for pharma and Medicines.
Next year they have decided to participate 2011 exhibition at Mumbai.
Form : 8
|
Corporate
identity number of the company |
U25209MH1999PTC122803 |
|
Name of the
company |
WINLEY POLYMERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
N-59,Midc Area,
Jalgaon – 425003, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Movable property (not
being pledge) |
|
Particular of
charge holder |
Oriental Bank Of
Commerce, |
|
Nature of
instrument creating charge |
1) Agreement Of
Term Loan Dated 25th February 2010 2) Deed Of Registered
Simple Mortgage Dated 25th February 2010 3) Counter
Guarantee Agreement Dated 25th February 2010 |
|
Date of
instrument Creating the charge |
25/02/2010 |
|
Amount secured by
the charge |
Rs. 16.750
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest : 0.50 % Below PLR(
Present PLR If 12%) Which Works Out At 11.50% At Present With Monthly Rests
,Subject To Change In PLR /Spread Announced By The Bank And Subject To Change
By RBI From Time To Time. Terms Of Repayment : For Term Loan Of
Rs. 15.750 millions - 81 Equated Monthly Installments Of Rs. 0.281 millions
Each Commencing From 15.06.2010 Margin : For Term Loan Of
Rs. 15.750 millions - 25% For Bank
Guarantee Of Rs. 1.000 millions - 25% Extent and operation of the charge : Full Charge Other : Penal Interest @
2% P.A Over and above The Rate On Overdrawn Portion Shall Be Applicable Interest Is
Exclusive Of All Taxes. The Interest Rate Ia Based On Present Credit Rating
Of The Customer And Shall Be Reset At Every Renewal/Review Based On Credit
Rating Of Customer |
|
Short particulars
of the property charged (Including location of the property) |
1.
Charge
Is Secured Against Hypothecation Of New Machinery, Moulds Etc And Also
Immovable Properties Of The Company Such As Plot No.N-59, Admeasuring 600
Sq.Mtrs In Additional Jalgaon Industrial Area 2.
And
Also Plot No.N-59/1, Admeasuring 595 Sq.Mtrs In Additional Jalgaon Industrial
Area More Particularly Described In Schedule Attached To The Mortgage Deed. |
FIXED ASSETS:
·
·
·
·
Plant and Machinery
·
Moulds and Accessories
·
Electric Installation
·
CCTV Systems
·
Water Purifier Systems
·
Inverter
·
Weighting Machine
·
Boaring
·
Furniture
·
Computer Peripherals
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. 73.23 |
|
Euro |
1 |
Rs. 62.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.