1. Summary Information
|
|
|
Country |
|
|
Company Name |
B.N. POLYMERS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Girish Kumar |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Pawan Kumar |
|
|
|
Registration # |
55-110926 |
|
Street Address |
1473/23, Aaziz Ganj, |
||
|
Established Date |
21.05.2001 |
SIC Code |
-- |
|
Telephone# |
91-11-65189382 |
Business Style 1 |
Trader |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
PolyProPykene |
|
# of employees |
Not Available |
Product Name 2 |
LLDPE |
|
Paid up capital |
Rs.4,655,200/- |
Product Name 3 |
HDPE |
|
Shareholders |
Directors or relatives
of Directors – 100% |
Banking |
HDFC Bank
Limited |
|
Public Limited Corp. |
NO |
Business Period |
11 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
264,451,000 |
Current Liabilities |
94,129,000 |
|
Inventories |
46,384,000 |
Long-term Liabilities |
175,201,000
|
|
Fixed Assets |
27,028,000 |
Other Liabilities |
4,680,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
274,010,000 |
|
Invest& other Assets |
1,418,000 |
Retained Earnings |
60,616,000 |
|
|
|
Net Worth |
65,271,000 |
|
Total Assets |
339,281,000 |
Total Liab. & Equity |
339,281,000 |
|
Total Assets (Previous Year) |
208,133,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Total Income |
1,669,481,000 |
Net Profit |
7,322,000 |
|
Total Income
(Previous yr) |
1,119,754,000 |
Net Profit(Prev.yr) |
6,755,000 |
MIRA
INFORM REPORT
|
Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
B.N. POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1473/23, Aaziz Ganj, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.05.2011 |
|
|
|
|
Com. Reg. No.: |
55-110926 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.655 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999DL2001PTC110926 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELB07214E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB6199H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of trading of plastic raw
material and shares. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
1473/23, Aaziz Ganj, |
|
Tel. No.: |
91-11-65189382 / 23541593 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Pawan Kumar |
|
Designation : |
Director |
|
Address : |
203, Vaishali Pitam Pura, |
|
Date of Appointment : |
21.05.2001 |
|
DIN No.: |
00009559 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U99999DL2001PTC110926 |
B.N. Polymers
Private Limited |
Director |
21-05-01 |
21-05-01 |
- |
Active |
NO |
|
2 |
U45201DL2006PTC144934 |
Bombay Buildcon
Private Limited |
Director |
17-01-06 |
17-01-06 |
- |
Active |
NO |
|
3 |
U70109DL2011PTC228978 |
KPR Farms and
Estates Private Limited |
Director |
19-12-11 |
19-12-11 |
- |
Active |
NO |
|
Name : |
Mr. Girish Kumar |
|
Designation : |
Director |
|
Address : |
203, Vaishali Pitam Pura, |
|
Date of Appointment : |
21.05.2001 |
|
DIN No.: |
00787547 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U99999DL2001PTC110926 |
B.N. Polymers
Private Limited |
Director |
21-05-01 |
21-05-01 |
- |
Active |
NO |
|
2 |
U70102DL2011PTC229388 |
VRG Buildcon
Private Limited |
Director |
28-12-11 |
28-12-11 |
- |
Active |
NO |
|
Name : |
Ms. Latika Makhijani |
|
Designation : |
Director |
|
Address : |
203, Vaishali Pitam Pura, |
|
Date of Appointment : |
21.05.2001 |
|
DIN No.: |
00787601 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Pawan Kumar |
|
93460 |
|
Girish Kumar |
|
90500 |
|
LATIKA Makhijani |
|
21000 |
|
Jai Kishan Dass |
|
30000 |
|
Chandra Devi |
|
11250 |
|
Anu Makhijani |
|
5300 |
|
Ankita Makhijani |
|
15800 |
|
Neha Makhijani |
|
11800 |
|
Pooja Nayyar |
|
10 |
|
Ravi Plastics, |
|
10 |
|
Satish Kumar |
|
720 |
|
Suresh Kumar |
|
600 |
|
Satish Kumar (HUF) |
|
1350 |
|
Jai Kishan Dass (HUF) |
|
600 |
|
Girish Kumar (HUF) |
|
600 |
|
Livancy Makhijani |
|
10 |
|
Manvi Makhijani |
|
10 |
|
Taranjeet Singh |
|
12500 |
|
Bombay Buidlcon Private Limited, |
|
125000 |
|
|
|
45000 |
|
Total |
|
465520 |
As on 30.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of trading of plastic raw material
and shares. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lunawat and Company Chartered Accountant |
|
Address : |
54, Darya Ganj, New Delhi-110002, |
|
Tel. No.: |
91-11 - 23270624 |
|
Telefax No.: |
91-11 – 23279414 |
|
E-Mail : |
|
|
Website: |
|
|
PAN.: |
AAAFLI539M |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
465520 |
Equity Shares |
Rs.10/- each |
Rs.4.655
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.655 |
4.655 |
2.455 |
|
|
2] Share Application Money |
0.000 |
0.000 |
48.100 |
|
|
3] Reserves & Surplus |
60.616 |
53.294 |
4.739 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
65.271 |
57.949 |
55.294 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
145.850 |
54.087 |
36.198 |
|
|
2] Unsecured Loans |
29.351 |
36.933 |
13.628 |
|
|
TOTAL BORROWING |
175.201 |
91.020 |
49.826 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
240.472 |
148.969 |
105.120 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
27.028 |
14.679 |
1.253 |
|
|
Capital work-in-progress |
0.878 |
0.878 |
0.086 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.540 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
46.384
|
44.770 |
117.792 |
|
|
Sundry Debtors |
225.315
|
123.441 |
90.339 |
|
|
Cash & Bank Balances |
15.154
|
5.912 |
35.669 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
23.982
|
18.453 |
10.553 |
|
Total
Current Assets |
310.835
|
192.576 |
254.353 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
94.129
|
55.644 |
121.402 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
29.170 |
|
|
Provisions |
4.680
|
3.520 |
0.000 |
|
Total
Current Liabilities |
98.809
|
59.164 |
150.572 |
|
|
Net Current Assets |
212.026
|
133.412 |
103.781 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
240.472 |
148.969 |
105.120 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
121.741 |
|
|
|
TOTAL |
1669.481 |
1119.754 |
869.192 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1657.427 (Including
Financial Expenses) |
1109.699
Including Financial Expenses) |
857.021 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
12.171 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
8.386 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.054 |
10.055 |
3.785 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.557 |
0.258 |
0.259 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
11.497 |
9.797 |
3.526 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.175 |
3.042 |
(1.559) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.322 |
6.755 |
1.967 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.847 |
4.092 |
2.125 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
18.169 |
10.847 |
4.092 |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
0.000 |
0.013 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.73 |
16.92 |
8.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.44
|
0.60 |
0.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
0.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.40
|
4.73 |
1.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.17 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.20
|
2.59 |
3.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.15
|
3.25 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
Operations:
During the year
the company achieved turnover and other income of Rs. 1669.400 Millions and net
profit was Rs.7.322 Millions as compared to turnover and other income of
Rs.1119.700 Millions and profit of Rs.6.755 Millions in the previous year.
Form 8:
|
Corporate
identity number of the company |
U99999DL2001PTC110926 |
|
Name of the
company |
B.N. POLYMERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1473/23, Aaziz Ganj, E-mail : bn_polymers@yahoo.com
|
|
This form is for |
10019505 |
|
Charge
identification (ID) number of the charge to be modified |
Modification of charge |
|
Type of charge |
Book debts Others (Stocks) |
|
Particular of
charge holder |
Citibank N.A, E-mail : roc@sdpa.in |
|
Nature of
instrument creating charge |
Deed of modification for Goods Security
Agreement. |
|
Date of instrument
Creating the charge |
17.11.2011 |
|
Amount secured by
the charge |
Rs.140.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per sanction terms
and as may be decided by the bank and company mutually from time to time. Terms of repayment Repayable on
demand, annually renewable. Margin Borrower shall at
all times during the continuance of the security maintain a sufficient amount
to provide the margin of security as may from time to time advised by the
bank. Extent and operation of the charge First pari-passu
charge on the current assets (including stocks and book debts) of the
borrower both present and future in favour of Citibank N.A Delhi for the
repayment of all monies in respect of the credit facility, including
outstanding balance and also all interest, costs, charges and expenses. |
|
Short particulars
of the property or asset(s) charged (including complete address and location of
the property) |
Current assets
(including stocks and book debts) of the borrower both present and future. |
|
Date of
instrument modifying the charge |
02.12.2010 |
|
Particulars of
the present modification |
By this
modification the limit is enhanced from Rs.89.500 Millions to Rs.140.000
Millions and the charge is secured by first pari-passu charge on the current
assets (including stocks, book debts) of the borrower both present and
future. |
Fixed Assets:
- Land
- Furniture
- Computer
- Scooter
- Cellular Phone
- Car
- Fire Extinguisher
- Air Conditiner
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.49.13 |
|
|
1 |
Rs.77.85 |
|
Euro |
1 |
Rs.64.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
43 |
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.