|
Report Date : |
20.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
MULTI PACKPLAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Village Changodar, Sarkhej-Bavla Highway, Taluka - Sanand,
Ahmedabad -382213, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.06.1994 |
|
|
|
|
Com. Reg. No.: |
04-022348 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119GJ1994PTC022348 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Flexible Packaging Material, Lamination Film, Milk
Film, Oil Film, Pharma Film, Polyester Laminated with LDPE Pouches. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Jayesh |
|
Designation : |
Finance Executive |
|
Date : |
18.02.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Village Changodar, Sarkhej-Bavla Highway, Taluka - Sanand,
Ahmedabad -382213, Gujarat, India |
|
Tel. No.: |
91-2717-250121/ 250122 |
|
Mobile No.: |
91-9825006923 (Mr. J. N. Khanchandani) |
|
Fax No.: |
91-2717-250123 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 29.09.2011)
|
Name : |
Mr. Nandlal Jessomal Khanchandani |
|
Designation : |
Director |
|
Address : |
B/102 Ashavari Tower, B/H. Karnavati Banglows, Nr. Ramdevnagar X Road,
Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.01.1949 |
|
Date of Appointment : |
24.06.1994 |
|
DIN No.: |
02261413 |
|
|
|
|
Name : |
Mr. Jaiprakash Nandlal Khanchandani |
|
Designation : |
Director |
|
Address : |
B/102 Ashavari Tower, B/H. Karnavati Banglows, Nr. Ramdevnagar X Road,
Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
20.01.1973 |
|
Date of Appointment : |
01.04.1998 |
|
DIN No.: |
03593860 |
|
|
|
|
Name : |
Ms. Vinita Jaiparkash Khanchandani |
|
Designation : |
Additional Director |
|
Address : |
B/102 Ashavari Tower, B/H. Karnavati Banglows, Nr. Ramdevnagar X Road,
Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
04.09.1975 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
02316522 |
KEY EXECUTIVES
|
Name : |
Mr. Jayesh |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Jaiprakash N. Khanchandani |
|
114500 |
|
Jaiprakash N. Khanchandani (HUF) |
|
18300 |
|
Jessomal S. Khanchandani (HUF) |
|
119000 |
|
Kamla N. Khanchandani |
|
98900 |
|
Kishan D. Talreja |
|
72000 |
|
Lellaben D. Talreja |
|
21700 |
|
Nandlal J Khanchandani |
|
375000 |
|
Nandlal J Khanchandani (HUF) |
|
26000 |
|
Rekha N. Khanchandani |
|
3600 |
|
Reshma N. Khanchandani |
|
4900 |
|
Sanjay N. Khanchandani |
|
34500 |
|
Vinita J. Khanchandani |
|
11600 |
|
|
|
|
|
Total |
|
900000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Flexible Packaging Material, Lamination Film, Milk Film,
Oil Film, Pharma Film, Polyester Laminated with LDPE Pouches. |
|
|
|
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Flexible Printed Poly Film |
MT |
NA |
2100 |
1159.378 |
|
Flexible Plain Poly Film |
MT |
NA |
26.837 |
|
|
Flexible Poly Cut_Sheet |
MT |
NA |
110.539 |
|
|
Flexible Lam. Polyester Film |
MT |
NA |
58.974 |
|
|
Flexible Lam. Metalised Film |
MT |
NA |
44.292 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Small Industrial Development Bank of Navjivan Amrit Jayanti Bhavan, 1st Floor, P. B. No. 10, Navjivan
P.O., Ahmedabad – 380014, Gujarat, India ·
Small Industrial Development Bank of SIDBI Tower, 15, Ashok Marg, Lucknow – 226001, Uttar Pradesh, India · Corporation Bank · lClCl Bank · Co-operative Bank |
||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
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||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C K Damani and Associates Chartered Accountant |
|
Address : |
7, 2nd
Floor, Agarwal Chambers, Opposite Havmore Town Hall, Ellisbridge Ahmedabad –
380007, Gujarat, India |
|
|
91-79-26575426 |
|
PAN No.: |
AAUPD7878D |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs. 10/-Each |
Rs.9.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs. 10/-Each |
Rs.9.000 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 |
9.000 |
9.000 |
9.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
17.040 |
15.379 |
13.710 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
26.040 |
24.379 |
22.710 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
39.249 |
42.026 |
45.950 |
|
|
2] Unsecured Loans |
4.013 |
8.272 |
4.007 |
|
|
TOTAL BORROWING |
43.262 |
50.298 |
49.957 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
69.302 |
74.677 |
72.667 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.892 |
5.629 |
6.436 |
|
|
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 |
24.148
|
20.505 |
14.341 |
|
|
Sundry Debtors |
33.038
|
43.399 |
43.339 |
|
|
Cash & Bank Balances |
2.908
|
1.602 |
1.767 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
12.348
|
11.261 |
13.665 |
|
Total
Current Assets |
72.442
|
76.767 |
73.112 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
5.893
|
5.554 |
5.376 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
2.139
|
2.165 |
1.505 |
|
Total
Current Liabilities |
8.032
|
7.719 |
6.881 |
|
|
Net Current Assets |
64.410
|
69.048 |
66.231 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
69.302 |
74.677 |
72.667 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
SALES |
156.665 |
168.838 |
177.299 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
7.200 |
7.969 |
8.488 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.919 |
4.575 |
5.064 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.281 |
3.394 |
3.424 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.748 |
0.873 |
0.977 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.533 |
2.521 |
2.447 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.872 |
0.852 |
0.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.661 |
1.669 |
1.603 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.579 |
12.110 |
10.707 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.200 |
0.200 |
0.200 |
|
|
BALANCE CARRIED
TO THE B/S |
15.040 |
13.579 |
12.110 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.85 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.62
|
1.49 |
1.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.28
|
3.06 |
3.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.97
|
2.38 |
2.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.02
|
9.95 |
10.63 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
-
Creditors for Goods |
5.513 |
4.315 |
3.325 |
|
-
Creditors for Transport |
0.201 |
1.110 |
1.195 |
|
-
Creditors for Others |
0.179 |
0.129 |
0.856 |
|
|
|
|
|
|
Total |
5.893 |
5.554 |
5.376 |
OPERATIONS:
The financial year
2010-2011 witnessed the unprecedented recession prevailing in the economy
affecting adversely almost all the industries in the Country. In spite of difficult
conditions, it is highly creditable that the Company has managed to achieve a
sales turnover of Rs.156.665 Millions (Previous Year Rs.168.838 Millions),
which denotes decrease in the turnover by 7.21% that of the previous year. The
company has managed to earn a profit of Rs.1.661 Millions after depreciation
and tax provision during the year. Keeping in view the favourable developments,
since the closure of accounting year, the Directors are hopeful for an even
better performance in the current year.
Form 8
|
Corporate
identity number of the company |
U17119GJ1994PTC022348 |
|
Name of the
company |
MULTI PACKPLAST
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Village Changodar
Ta-Sanandd, Ahmedabad, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90100119 |
|
Type of charge |
Movable Property
(not being pledge) Others: Movable
Plant and Machinery, Spare and Accessories |
|
Particular of
charge holder |
Small Industries
Development Bank of India SIDBI Tower, 15,
Ashok Marg, Lucknow – 226001, Uttar Pradesh, India |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
Term Loan Limit cum Hypothecation dated 16.09.2010 to secure Term Loan of
Rs.5.000 Millions |
|
Date of instrument
Creating the charge |
16.09.2010 |
|
Amount secured by
the charge |
Rs.20.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 11.50%
per annum on the amount of the loan outstanding from time to time. The
interest shall be payable on 10th day of each month Terms of
Repayment The Loan shall be
repaid to SIDBI in 48 (Forty Eight) monthly-first 40 (Forty) installment of Rs.1
Lac each and remaining 8 (Eight) installments of Rs.0.125 Million commencing
after a moratorium period of 12 (Twelve) months Margin As mentioned in
Letter of Intent Extent and
Operation of the charge The charge is
operative till the repayment of loan. Others upfront fee @
0.5% of the loan. |
|
Short particulars
of the property charged |
Movable
properties of the company pertaining to its project situate at Block no.329,
Sarkhej Bavla Road, Village Changodar Taluka Sanand Dist: Ahmedabad including
movable plant, machinery, Machinery spares, tools, accessories, office
equipment furniture and fixtures etc. and movable properties of the company
situate at other premises including movable plant, machinery, machinery
spares, tools, accessories,
office equipments etc. |
|
Date of latest
modification prior to the present modification |
27.06.2008 |
|
Particulars of
the present modification |
The charge
created on movable plant and machinery is extended to secure Term Loan limit of
Rs.5.000 Millions making aggregate credit facilities of Rs.20.000 Millions of
SIDBI |
FIXED ASSETS:
· Land
· Borewell
· Building
· Plant and Machinery
· D G Set
· Electrification
· Office Equipment
· Computer and Accessory
· Vehicle
· Fax Instrument
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.49.25 |
|
|
1 |
Rs.77.45 |
|
Euro |
1 |
Rs.64.89 |
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 |
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 |
|
44 |
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.