%20PRIVATE%20LIMITED%20-%20134284%2010-Mar-2011_files/image002.jpg){kind=small}
Summary Information
|
|
|
Country |
|
|
Company Name |
PLASTIC EXPORT
ZUNDERT ( |
Principal Name 1 |
Mr. Narendra Phadnis |
|
Status |
Moderate |
Principal Name 2 |
Mr. Pieter Pfeiffer |
|
|
|
Registration # |
003084 |
|
Street Address |
Plot No. L68(A),
Verna Industrial Estate, Verna, Salcette, Goa – 403722, |
||
|
Established Date |
26.03.2002 |
SIC Code |
-- |
|
Telephone# |
91-832-2782394 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-832-2782396 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Pet Bottle |
|
|
# of employees |
|
Product Name 2 |
Plastic Bottle |
|
Paid up capital |
Rs. 5000000 /- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings - 99.85% |
Banking |
Axis Bank
Limited |
|
Public Limited Corp. |
NO |
Business Period |
(8 years) |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ca (17) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2007 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
77,277,000 |
Current Liabilities |
49,715,000 |
|
Inventories |
13,470,000 |
Long-term Liabilities |
173,047,000 |
|
Fixed Assets |
110,902,000 |
Other Liabilities |
-- |
|
Deferred Assets |
1,169,000 |
Total Liabilities |
222,762,000 |
|
Invest& other Assets |
27,777,000 |
Retained Earnings |
19,000 |
|
|
|
Net Worth |
7,833,000 |
|
Total Assets |
230,595,000 |
Total Liab. & Equity |
230,595,000 |
|
Total Assets (Previous Year) |
205,944,000 |
|
|
|
P/L Statement as of |
31.03.2007 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
159,353,000 |
Net Profit(Prev.yr) |
1,115,000 |
MIRA
INFORM REPORT
|
Report Date : |
10.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
PLASTIC EXPORT ZUNDERT ( |
|
|
|
|
Registered
Office : |
Plot No. L68(A), Verna Industrial Estate, Verna, Salcette, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2007 |
|
|
|
|
Date of
Incorporation : |
26.03.2002 |
|
|
|
|
Com. Reg. No.: |
003084 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U00313GA2002PTC003084 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRP07352C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Pet Bottle and Plastic Bottle. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. The
management of the company has not filed the financials to government department
after the year 2007. Trade relations are fair. Business is active. Payments are unknown. The company can be considered for business dealings with some caution.
|
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Fadte |
|
Designation : |
Director |
|
Contact No.: |
91-7620127288 |
|
Date : |
07.03.2011 |
LOCATIONS
|
Registered Office/Factory : |
Plot No. L68(A), Verna Industrial Estate, Verna, Salcette, Goa –
403722, |
|
Tel. No.: |
91-832-2782394 |
|
Mobile No.: |
91-7620127288 (Mr. Fadte) |
|
Fax No.: |
91-832-2782396 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
DIRECTORS
AS ON 29.09.2007
|
Name : |
Mr. Pieter Pfeiffer |
|
Designation : |
Director |
|
Address : |
Oekelsebaan Ioa – 4881 NC, Zundert, The |
|
Date of Appointment : |
05.08.1998 |
|
|
|
|
Name : |
Mr. Narendra Phadnis |
|
Designation : |
Director |
|
Address : |
Plot No. L-68(A), Verna, Industrial Estate, Verna, Salcate South Goa –
403722, |
|
Date of Appointment : |
01.05.1999 |
|
|
|
|
Name : |
Mr. Sadanand Mahablu Fadte |
|
Designation : |
Director |
|
Address : |
9, Shefalee Makarand, Society Veer, Savarkar, Marg Mahim Mumbai –
400016, |
|
Date of Birth/Age : |
18.09.1970 |
|
Date of Appointment : |
01.02.2007 |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2007
|
Names of Shareholders |
|
No. of Shares |
|
Narendra Phadnis |
|
2010 |
|
Pieter Greert Pfeiffer |
|
11 |
|
PEZ International, The Netherland |
|
1307979 |
|
|
|
|
|
Total |
|
1310000 |
AS ON 29.09.2007
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.85 |
|
Bodies corporate |
0.00 |
|
Directors or relatives of Directors |
0.15 |
|
Other top fifty shareholders |
0.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pet Bottle and Plastic Bottle. |
|
|
|
|
Exports : |
|
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Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
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Selling : |
Cash, Credit |
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|
|
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Gajendrababu Chartered Accountant |
|
Address : |
C/13, Mira Flores, 3rd |
|
|
|
CAPITAL STRUCTURE
AS ON 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1310000 |
Equity Shares |
Rs.10/- each |
Rs.13.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
13.204 |
13.204 |
13.204 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.019 |
0.019 |
0.019 |
|
|
4] (Accumulated Losses) |
(5.390) |
(1.052) |
(2.227) |
|
|
NETWORTH |
7.833 |
12.171 |
10.996 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
41.867 |
50.448 |
36.251 |
|
|
2] Unsecured Loans |
131.180 |
111.143 |
58.428 |
|
|
TOTAL BORROWING |
173.047 |
161.591 |
94.679 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
180.880 |
173.762 |
105.675 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
110.902 |
119.651 |
59.766 |
|
|
Capital work-in-progress |
16.478 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.577 |
10.577 |
9.845 |
|
|
DEFERREX TAX ASSETS |
1.169 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.470 |
16.356 |
12.242 |
|
|
Sundry Debtors |
56.483 |
31.781 |
15.357 |
|
|
Cash & Bank Balances |
1.310 |
4.464 |
2.316 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
19.484 |
22.130 |
25.644 |
|
Total
Current Assets |
90.747
|
74.731 |
55.559 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
45.763 |
29.080 |
18.704 |
|
|
Provisions |
3.952 |
3.102 |
2.039 |
|
Total
Current Liabilities |
49.715
|
32.182 |
20.743 |
|
|
Net Current Assets |
41.032
|
42.549 |
34.816 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.722 |
0.985 |
1.248 |
|
|
|
|
|
|
|
|
TOTAL |
180.880 |
173.762 |
105.675 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
159.353 |
71.550 |
|
|
|
Other Income |
|
3.975 |
3.334 |
|
|
|
TOTAL (A) |
|
163.328 |
74.884 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material and Stores Consumed |
|
|
|
|
|
|
Manufacturing Expenses |
|
23.174 |
|
|
|
|
Administrative, Finance and Selling Overheads |
|
10.759 |
69.919 |
|
|
|
Loss in |
|
0.072 |
|
|
|
|
Preliminary Expenses Written Off |
|
0.262 |
|
|
|
|
Selling and Distribution Overheads |
|
4.946 |
|
|
|
|
Increase/ Decrease in stock |
|
(4.720) |
|
|
|
|
TOTAL (B) |
|
145.519 |
69.919 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
17.809 |
4.965 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
11.384 |
0.924 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
6.425 |
4.041 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
5.205 |
1.993 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
1.220 |
2.048 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
0.105 |
0.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
1.115 |
1.888 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
15.220 |
(2.226) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.23 |
3.77 |
|
%20PRIVATE%20LIMITED%20-%20134284%2010-Mar-2011_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
-- |
0.68
|
2.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
-- |
0.76
|
2.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
-- |
0.46
|
1.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
-- |
0.15
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.50 |
28.44
|
15.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.68 |
1.83
|
2.32 |
LOCAL AGENCY FURTHER INFORMATION
Operations :
During the year Company’s Turnover and other Income was Rs. 18.712
millions which resulted in loss of Rs. 5.465 millions. The Company looks
forward for better performance during the year.
Sections 217 (1) (e) and 217 (2A) of the companies Act, 1956 do not
apply to the company.
Form : 8
|
This form is for |
Modification of
charge |
|
Corporate
identity number of the company |
U00313GA2002PTC003084 |
|
Name of the
company |
PLASTIC EXPORT
ZUNDERT ( |
|
Address of the
registered office or of the principal place of business in |
Plot No L
68(A),Verna Industrial Estate, Verna, Salcette, |
|
Type of charge |
Immovable
property Movable property
(not being pledge) |
|
Particular of
charge holder |
Axis Bank
Limited, Dr.A.B. Road, Panaji Branch, Panaji – 403001, |
|
Nature of
instrument creating charge |
1. Composite Hypothecation
Deed. 2. Memorandum Of
Entry. |
|
Date of
instrument Creating the charge |
28/02/2008 |
|
Amount secured by
the charge |
Rs. 68.200
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : Bplr-1.25% I.E
Presently 13.50% P.A Payable Monthly. Terms of repayment : Cash Credit-12
Months -Repayment On Demand. Margin : 25% On Stock And
40% On Book Debts. Extent and operation of the charge : To The Extent Of
Rs. 68.200 Millions. Other : Nil |
|
Short particulars
of the property charged (Including location of the property) |
Exclusive 1st
Hypothecation Charge On Entire Current Assets Of The Extension Of
Exclusive First Charge By Way Of Equitable Mortgage On Entire Immovable Fixed
Assets Of The Co. Including Land and Construction Thereon At Plot Nos. 68,69,127,128,
Verna Industrial Estate, Verna Salcete, Goa and By Way Of Hypothecation On
Entire Movable Fixed Assets Of The Company Present and Future. |
|
Date of
instrument modifying the charge |
21/06/2005 |
|
Particulars of
the present modification |
The Revised
Limits Are As Follows : ( In Millions)
Original Modn. New Term Loan 28.200 28.200
28.200 Letter Of Credit 10.000 10.000 -------- Cash Of
Credit 10.000 10.000 40.000 (Sub Limit25) |
Fixed Assets :
- Land
- Buildings
- Plant and
Machinery
- Factory
- Moulds
- Electrical
Installation
- Furniture and
Fixtures
- Office
Equipments
- Computer
- Vehicles
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. 45.02 |
|
|
1 |
Rs. 72.70 |
|
Euro |
1 |
Rs. 62.54 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
17 |
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.