MIRA
INFORM REPORT
|
Report Date : |
20.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
ACCU PACK ENGINEERING PRIVATE LIMITED |
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Registered
Office : |
603/604, Trikal Co-Operating Housing Society, 90 ft Road, Pantnagar,
Ghatkopar (East), Mumbai– 400075, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.03.2004 |
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Com. Reg. No.: |
11-144802 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U29195MH2004PTC144802 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter and Manufacturer of Blister packing machines, change parts,
table dies, punching, cartooning machines, aluminum foils, capsules filling
machines, blister change parts. |
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|
No. of Employees
: |
250(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 22000 |
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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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
603/604, Trikal Co-Operating Housing Society, 90 ft Road, Pantnagar,
Ghatkopar (East), Mumbai– 400075, Maharashtra, India |
|
Tel. No.: |
91-22-27600373 / 67987214 / 55987214 |
|
Fax No.: |
91-22-27606476 / 67987215 / 65987215 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Shehul Ramesh Sheth |
|
Designation : |
Director |
|
Address : |
309/603, Trajkal, 90 Feet Road, Ghatkopar – 400075 |
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Date of Birth/Age : |
23.10.1977 |
|
Date of Appointment : |
01.03.2004 |
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DIN No.: |
00330433 |
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U29195MH2004PTC144802 |
Accu
Pack Engineering Private Limited |
Director |
01-03-04 |
01-03-04 |
Active |
NO |
|
U22222MH2007PTC168179 |
ACCIN
Packaging Private Limited |
Director |
27-02-07 |
27-02-07 |
Active |
|
Name : |
Mr. Bhagawan Pandurang Gaikwad |
|
Designation : |
Director |
|
Address : |
PL5/22/12, Sector 17, New Panvel-410206 |
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Date of Birth/Age : |
15.06.1973 |
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Date of Appointment : |
01.03.2004 |
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DIN No.: |
00384339 |
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U29195MH2004PTC144802 |
Accu
Pack Engineering Private Limited |
Director |
01-03-04 |
01-03-04 |
Active |
NO |
|
U22222MH2007PTC168179 |
ACCIN
Packaging Private Limited |
Director |
27-02-07 |
27-02-07 |
Active |
|
Name : |
Mr. Koyott Manikoth Anilkumar |
|
Designation : |
Director |
|
Address : |
Bldg no- 17, Room no. 580, Chembur Colony, Chembur - 400074 |
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Date of Birth/Age : |
05.12.1972 |
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Date of Appointment : |
01.03.2004 |
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DIN No.: |
00384356 |
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U29195MH2004PTC144802 |
Accu
Pack Engineering Private Limited |
Director |
01-03-04 |
01-03-04 |
Active |
NO |
|
U22222MH2007PTC168179 |
ACCIN
Packaging Private Limited |
Director |
27-02-07 |
27-02-07 |
Active |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Shehul Sheth |
33334 |
|
Bhagawan Gaikawad |
33333 |
|
K. M. Anilkumar |
33333 |
|
Ajit G. Shah |
1 |
|
Anantraj K. Joshi |
1 |
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Anil K. Gandhi |
1 |
|
Anjali R. Shah |
1 |
|
Deepak N. Gandhi HUF |
1 |
|
Deepa Paras Shah |
1 |
|
Harsha P Das |
1 |
|
Hiten H. Sanghavi |
1 |
|
Hiten H. Sanghavi HUF |
1 |
|
Isha R. Kumbhani |
1 |
|
Jayantilal M. Bheda HUF |
1 |
|
Jitendra K. Bhayani HUF |
1 |
AS ON 30.09.2010
|
Category |
Percentage |
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|
|
|
Directors or relatives of Directors |
100.00 |
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|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Manufacturer of Blister packing machines, change parts, table
dies, punching, cartooning machines, aluminum foils, capsules filling
machines, blister change parts. |
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|
|
|
Products : |
·
Capsule making machine ·
Bottle washing machine ·
Takblet deduster ·
Disintegrator ·
Wad insertion machine ·
Pharmaceutical coating pan |
GENERAL INFORMATION
|
No. of Employees : |
250(Approximately) |
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Bankers : |
·
Bank of Baroda, Girgaum Branch, 281, J S S Road,
Mumbai – 400004, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
M. SHETH & CO. Chartered Accountant |
|
Address : |
44/C, 2ND Floor, Motiwala Building, Next to Hotel Grant,
Grant Road (E).Mumbai – 400007, Maharashtra- MH, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.1/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100032 |
Equity Shares |
Rs.1/- each |
Rs. 0.100
Million |
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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 |
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|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.304 |
3.170 |
2.078 |
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4] (Accumulated Losses) |
0.00 |
0.000 |
0.000 |
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NETWORTH |
5.404 |
3.271 |
2.178 |
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LOAN FUNDS |
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
25.466 |
28.066 |
30.057 |
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TOTAL BORROWING |
25.466 |
28.066 |
30.057 |
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DEFERRED TAX LIABILITIES |
0.427 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
30.870 |
31.337 |
32.235 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.304 |
11.043 |
10.787 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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INVESTMENT |
0.100 |
0.100 |
0.100 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
9.490
|
16.499 |
16.088 |
|
|
Sundry Debtors |
19.715
|
14.714 |
14.536 |
|
|
Cash & Bank Balances |
2.365
|
0.804 |
1.794 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
11.055
|
9.703 |
9.081 |
|
Total
Current Assets |
42.625
|
41.720 |
41.499 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16.783
|
17.758 |
18.060 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
4.805
|
3.768 |
2.091 |
|
Total
Current Liabilities |
21.588
|
21.526 |
20.151 |
|
|
Net Current Assets |
21.037
|
20.194 |
21.348 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.00 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
30.870 |
31.337 |
32.235 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
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|
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|
TOTAL SALES (A) |
81.410 |
69.679 |
60.059 |
|
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|
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|
|
Less |
EXPENSES |
|
|
|
|
|
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|
Office Expenses |
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|
Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
NA |
NA |
NA |
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|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.237 |
7.912 |
5.884 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.865 |
2.983 |
1.991 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.372 |
4.929 |
3.893 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.604 |
2.665 |
1.992 |
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|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
2.768 |
2.264 |
1.901 |
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|
|
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|
Less |
TAX (I) |
0.889 |
1.008 |
0.773 |
|
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|
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|
PROFIT AFTER TAX
(G-I) (J) |
1.879 |
1.256 |
1.128 |
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.424 |
2.168 |
1.040 |
|
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|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.303 |
3.424 |
2.168 |
|
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|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.78 |
34.22 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
2.30
|
1.80 |
3.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.96
|
4.29 |
3.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.69 |
0.87 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.70
|
15.16 |
15.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.93 |
2.05 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
During this year of operations
the Company has achieved a total sales of Rs.81.410 millions as compared to previous year turnover of Rs.69.679 millions and net profit
after tax of Rs.2.768 millions. as
compared to previous years profit of Rs.1.256
millions There has been an increase of 16.83% in the sales turnover. The directors are confident of
posting a better result in the future years.
FORM : 8
|
Corporate identity number of the company |
U29195MH2004PTC144802 |
|
Name of the company |
ACCU PACK ENGINEERING PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Room No 603 Bldg No 309 Trikal Bldg 90
FEET Road, Pant Nagar Ghatkopar (E), Mumbai – 400075, Maharashtra, INDIA |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) Others |
|
Particular of charge holder |
Bank Of India, Girgaum Branch,281, J S S
Road, Mumbai – 400004, Maharashtra, |
|
Nature of instrument creating charge |
1.Agreement For Hypothecation Cum Loan
Agreement(Plant And Machinery, Stocks And Book Debts) |
|
Date of instrument Creating the charge |
09/05/2011 |
|
Amount secured by the charge |
Rs. 20.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest Roi Bank Base Rate Presently 13 % P.A. And
/ Or As Stipulated By Bank From Time To Time Terms
of repayment As Stipulated By Bank From Time To Time Margin Stocks =30% And Book Debts = 40% And/ Or As
Stipulated By Bank From Time To Time Extent
and operation of the charge First Charge(Present And Future)=Total
Limit= Rs.20.000 millions ((1)Cash Credit(Stock)=Rs.20.000 millions (2)Cash
Credit(Book Debts)=Rs.10.000 millions = Max Total Fund Based (1+2)= RS.20.000
millions) And/Or As Stipulated By Bank From Time To
Time Other
As Stipulated By Bank From Time To Time
And As Per Agreement Attached And As Per Sanction Letter Of The Bank |
|
Short particulars of the property charged
(Including location of the property) |
First Charge (Present And Future) -On
Following Assets- (1)Hypothecation Of All Stock / Goods / Inventories
/Products Kept At Borrower Place/Premises/Factories/Godown Etc Or Where
everelse Or In Transit (2)Hypothecation Of Book Debts And Receivables (3)Hypothecation Of All Current And
Movable Assets Of The Company |
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. 47.79 |
|
|
1 |
Rs. 75.05 |
|
Euro |
1 |
Rs. 65.35 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
|
45 |
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.