Business
information report
1.
Summary Information
|
|
|
Country |
India |
|
Company Name |
NOVEL PLASTIC PRIVATE LIMITED |
Principal Name 1 |
Mr. Navin Damji Dharod |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Neeta Navin Dharod |
|
|
|
Registration # |
11-144763 |
|
Street Address |
1/58, 1st Floor, Raja Industrial Estate, P K Road, Mulund
(West), Mumbai-400080, Maharashtra |
||
|
Established Date |
27.02.2004 |
SIC Code |
-- |
|
Telephone# |
91-22-25643992 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-25643992 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Pet Perform |
|
|
# of employees |
Not Available |
Product Name 2 |
Bottles |
|
Paid up capital |
Rs.
950,000/- |
Product Name 3 |
Jars |
|
Shareholders |
Directors or relatives of Directors – 100% |
Banking |
Canara Bank |
|
Public Limited Corp. |
No |
Business Period |
8 years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
B (26) |
|
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 |
19,967,000 |
Current Liabilities |
5,679,000 |
|
Inventories |
11,424,000 |
Long-term Liabilities |
40,546,000 |
|
Fixed Assets |
15,824,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
46,225,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
40,000 |
|
|
|
Net Worth |
990,000 |
|
Total Assets |
47,215,000 |
Total Liab. & Equity |
47,215,000 |
|
Total Assets (Previous Year) |
22,353,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Gross Income |
112,953,000 |
Net Profit |
2,009,000 |
|
Gross Income (Previous yr) |
53,080,000 |
Net Profit
(Prev.yr) |
671,000 |
MIRA
INFORM REPORT
|
Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
NOVEL PLASTIC PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
158, 1st Floor, Raja Industrial Estate, P K Road, Mulund
(West), Mumbai-400080, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
27.02.2004 |
|
|
|
|
Com. Reg. No.: |
11-144763 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.950 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25206MH2004PTC144763 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN11089B MUMN11058F MUMN09956C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of pet perform, bottles, jars, pet
bottles, pet jars, caps closers, CD packing products etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track records. The company
has been successful in wiping off the accumulated losses of the previous
years. Trade relations are reported as fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealings with some
cautions. |
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) |
|
India |
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 : |
158, 1st Floor, Raja Industrial Estate, P K Road, Mulund
(West), Mumbai-400080, Maharashtra, India |
|
Tel. No.: |
91-22-25643992 / 25695326 / 25695327 / 25652647 |
|
Fax No.: |
91-22-25643992 / 25695327 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Navin Damji Dharod |
|
Designation : |
Chairman |
|
Address : |
702, Oswal Apartments, P. K. Road Extension, Mulund (West), Mumbai-400080,
Maharashtra, India |
|
Date of Birth/Age : |
17.03.1963 |
|
Date of Appointment : |
27.02.2004 |
|
DIN No.: |
00248582 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U25206MH2004PTC144763 |
NOVEL
PLASTIC PRIVATE LIMITED |
Director |
27-02-04 |
27-02-04 |
Active |
NO |
|
2 |
U25206MH2004PTC144851 |
SAMARTH
POLYPLAST PRIVATE LIMITED |
Director |
04-03-04 |
04-03-04 |
Active |
NO |
|
Name : |
Mrs. Neeta Navin Dharod |
|
Designation : |
Director |
|
Address : |
702, Oswal Apartments, P. K. Road Extension, Mulund (West),
Mumbai-400080, Maharashtra, India |
|
Date of Birth/Age : |
03.04.1964 |
|
Date of Appointment : |
30.01.2006 |
|
DIN No.: |
00458059 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U25206MH2004PTC144763 |
NOVEL
PLASTIC PRIVATE LIMITED |
Director |
30-09-06 |
30-01-06 |
Active |
NO |
|
2 |
U25206MH2004PTC144851 |
SAMARTH
POLYPLAST PRIVATE LIMITED |
Director |
30-09-06 |
30-01-06 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Dharod D Navin |
4500 |
|
Dharod M. Vimla |
50 |
|
Dharod Damji Navin (HUF) |
50 |
|
Dharod Navin Neeta Jointly With Dharod D Navin |
1550 |
|
Dharod Navin Harshna Jointly With Dharod D Navin |
50 |
|
Dharod Navin Henil Jointly With Dharod D Navin |
50 |
|
Dharod D Navin Jointly With Dharod N Neeta |
3250 |
|
Total |
9500 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of pet perform, bottles, jars, pet
bottles, pet jars, caps closers, CD packing products etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Canara Bank, Mulund West, Mumbai-400080,
Maharashtra, India ·
Oriental Bank of Commerce, Mulund (West) Branch, Air
Auto House, P. K. Road, Mumbai-400080, Maharashtra, India ·
ICICI Bank |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bipin D. Karani and Company Chartered Accountants |
|
Address : |
1-4, Kandke Building No.2, 81, N. C. Kelkar Road, Dadar (West), Mumbai-400028,
Maharashtra, India |
|
Pan No.: |
ABFPK6469B |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9500 |
Equity Shares |
Rs.100/-
each |
Rs. 0.950
Million |
|
|
|
|
|
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 |
0.950 |
0.535 |
0.535 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.040 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(1.968) |
(2.639) |
|
|
NETWORTH |
0.990 |
(1.433) |
(2.104) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.281 |
1.734 |
0.246 |
|
|
2] Unsecured Loans |
38.265 |
18.050 |
13.094 |
|
|
TOTAL BORROWING |
40.546 |
19.784 |
13.340 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
41.536 |
18.351 |
11.236 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.824 |
12.512 |
9.170 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.424
|
2.478 |
2.872 |
|
|
Sundry Debtors |
18.485
|
6.141 |
1.002 |
|
|
Cash & Bank Balances |
0.149
|
0.064 |
0.133 |
|
|
Other Current Assets |
1.333
|
1.158 |
1.158 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
31.391
|
9.841 |
5.165 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.623 |
0.098 |
|
|
Other Current Liabilities |
|
3.379 |
2.792 |
|
|
Provisions |
0.000
|
0.000 |
0.209 |
|
Total
Current Liabilities |
5.679
|
4.002 |
3.099 |
|
|
Net Current Assets |
25.712
|
5.839 |
2.066 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
41.536 |
18.351 |
11.236 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
GROSS INCOME
[INCLUDING OTHER INCOME] |
112.953 |
53.080 |
15.866 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.489 |
3.417 |
2.491 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.480 |
2.746 |
2.396 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.009 |
0.671 |
0.095 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.009 |
0.671 |
0.095 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.009 |
0.671 |
0.095 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
211.47 |
25.42 |
17.76 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.26
|
3.00 |
0.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.03
|
(0.47) |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
46.69
|
(16.60) |
(7.81) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.53
|
2.46 |
1.67 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE OF THE
COMPANY
During the year,
the Company achieved Gross Receipt [Including other income] of Rs. 112.953
Millions and made a profit before depreciation of Rs. 5.488 Millions. After
providing for depreciation of Rs. 3.480 Millions the Company posted profit of
Rs. 2.009 Millions and loss to the tune of Rs.2.009 Millions is being carried
forward to the Balance sheet.
FORM 8
|
Corporate
identity number of the company |
U25206MH2004PTC144763 |
|
Name of the
company |
NOVEL PLASTIC
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1/58, 1st Floor, Raja Industrial Estate, P K Road, Mulund
(West), Mumbai-400080, Maharashtra, India |
|
This form is for |
Modification of
charge Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Canara Bank, Mulund West, Mumbai-400080, Maharashtra, India |
|
Nature of
instrument creating charge |
1. Supplemental
Common Hypothecation Agreement 2. Hypothecation
Agreement of Goods And Book Debts (For
DAL/DPG/Guarantees) 3. LEDTD To Be
Used Where Additional Limit Is Granted on The Very Security All Dt. 25.3.2011 |
|
Date of
instrument Creating the charge |
25.03.2011 |
|
Amount secured by
the charge |
Rs. 14.680
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 13.50% monthly compounded-floating
( for CC limit) Terms of repayment Not Applicable
Being CC Limit. Margin 25% On Stock Extent and operation of the charge The bank has
sanctioned an additional limit of Rs. 8.000 Millions, thereby the limit is
enhanced from Rs. 6.680 Millions to Rs. 14.680 Millions To secure the
repayment of said enhanced limit along with interest the borrower has created
charge in favour of the bank by way of hypothecation of its stocks, book
debts, plant and machinery and also on its immovable properties by way of
extension of equitable mortgage. Other The enhanced
limit of Rs. 14.680 Millions consists of : Cash credit
(OCC/ODBD) enhanced from Rs. 5.000 Millions to Rs. 9.500 Millions Term loan Rs.
1.680 Millions FLC Rs. 3.500
Millions. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Stock and Book Debts. Hypothecation of
Plant and Machinery All That Piece
and Parcel of Land and Bldg At Survey No 906/2 Admeasuring 468.075 Sq. Mtrs
At Village Amli of Union Territory of Dadra and Nagar Haveli. (Described In
Schedule B of L E D T D. Dt. 25.3.2011) |
|
Charge
identification number of the charge to be modified |
80003154 |
|
Date of
instrument modifying the charge |
24.05.2010 |
|
Particulars of
the present modification |
The bank has
sanctioned an additional limit of Rs. 8.000 Millions, thereby the limit is
enhanced from Rs. 6.680 Millions to Rs. 14.680 Millions to secure the
repayment of said enhanced limit along with interest the borrower has created
charge in favour of the bank by way of hypothecation of its stocks, book
debts, plant and machinery and also on its immovable properties by way of
extension of equitable mortgage. |
FIXED ASSETS
·
Furniture and Fixtures
·
Industrial Gala
·
Cycle
·
Air Conditioner
·
Cellular Phone
·
Electric Fittings
·
Office Equipments
·
Plant and Machinery
·
Weight and Scale
·
Motor Car
·
Fax Machine
·
Telephone Instrument
·
Xerox Machine
·
Dies and Mould
·
Computer
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] 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. 49.12 |
|
|
1 |
Rs. 77.84 |
|
Euro |
1 |
Rs. 64.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.