MIRA
INFORM REPORT
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Report Date : |
20.02.2012 |
IDENTIFICATION DETAILS
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Name : |
RANASARIA POLY PACK PRIVATE LIMITED |
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Registered
Office : |
83, Nutan Cloth Market, O/S Raipur Gate, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.07.2002 |
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Com. Reg. No.: |
04-040957 |
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Capital
Investment / Paid-up Capital : |
Rs.6.382
Millions |
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CIN No.: [Company Identification
No.] |
U25202GJ2002PTC040957 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Printed Sack Bag, Sacks Bag for
Wheat, Sacks Bag, Sacks Bag for Cement. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 208000 |
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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.
INFORMATION DECLINED BY
|
Name : |
Mr. Pradip |
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Designation : |
Finance Manager |
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Contact No.: |
91-9825074277 |
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Date : |
17.02.2012 |
LOCATIONS
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Registered Office : |
83, Nutan Cloth Market, O/S Raipur Gate, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9825074277 (Mr. Pradip) |
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Fax No.: |
Not Available |
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E-Mail : |
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Corporate Office : |
Plot No.727/C, Village Moti Bhoyan, |
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Tel. No.: |
91-2764-281796 / 281789 |
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Fax No.: |
91-2764-281873 / 281876 |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Sunil Murlidhar Ranasaria |
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Designation : |
Director |
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Address : |
12, Sujan Bunglows, Ambawadi, Ahmedabad – 380 015, |
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Date of Birth : |
24.06.1959 |
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Date of Appointment : |
10.07.2002 |
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DIN No.: |
00472602 |
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Other Directorship :
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Name : |
Mr. Sajjan Murlidhar Ranasaria |
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Designation : |
Director |
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Address : |
12, Sujan Bunglows, Ambawadi, Ahmedabad – 380 015, |
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Date of Birth : |
07.06.1962 |
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Date of Appointment : |
10.07.2002 |
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DIN No.: |
00468312 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Pradip |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Sunil M. Ranasaria |
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40000 |
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Sajjan M. Ranasaria |
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52500 |
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Umadevi S. Ranasaria |
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23000 |
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Manishadevi S. Ranasaria |
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27000 |
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Sajjan M. Ranasaria (Karta of Sajjan Murlidhar Ranasaia HUF) |
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15600 |
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Sunil M. Ranasaria (Karta of Sunil Murlidhar Ranasaia HUF) |
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62600 |
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Murlidhar Sitaram Ranasaria |
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92100 |
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Murlidhar Sitaram Ranasaria (Karta of Murlidhar S. Ranasaia HUF) |
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25100 |
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Geetadevi M. Ranasria |
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25100 |
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Smiti S. Ranasaria |
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100 |
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Anup S. Gadia |
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100 |
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Shri Geeta Sacks Private Limited, |
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92500 |
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SGI Tech Fab Private Limited, |
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90000 |
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Shri Geeta Infratech Private Limited, |
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92500 |
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Total |
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638200 |
As on 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
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43.00 |
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Directors
or relatives of directors |
|
57.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Printed Sack Bag, Sacks Bag for
Wheat, Sacks Bag, Sacks Bag for Cement. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
Unit of Measure |
Installed
Capacity |
Actual
Production |
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Plastic Tape/Woven Bags/ Laminated and Unlaminated Fabrics |
MT |
8700 |
5617.66* |
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* Including goods manufactured by others on job work, but exclude the
production done on job work on behalf of others.
GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
Bank of |
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Facilities : |
SECURITIES FOR LOANS BY WAY OF: Term loan is secured
by an equitable mortgage of immovable properties and hypothecation of all
moveable properties. Working capital
loan in Indian rupee is secured by hypothecation of inventories and book
debts, both present and future. Working capital
loan in Foreign Currency is secured by Letter of Confort given by bank. The above loans
are further secured by personal guarantee of directors.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ashok Dhariwal and Company Chartered Accountants |
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Address : |
6th Floor, Narnarayan Complex, Near Navrangpura Post
Office, Ahmedabad - 380 009, |
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Tel. No.: |
91-79-26448255 |
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Income-tax
PAN of auditor or auditor's firm : |
AAJPD4310R |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
638200 |
Equity Shares |
Rs.10/- each |
Rs.6.382
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
6.382 |
6.382 |
6.382 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
45.722 |
36.977 |
31.085 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
52.104 |
43.359 |
37.467 |
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LOAN FUNDS |
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1] Secured Loans |
69.468 |
67.105 |
45.892 |
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2] Unsecured Loans |
94.536 |
60.452 |
60.696 |
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TOTAL BORROWING |
164.004 |
127.557 |
106.588 |
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DEFERRED TAX LIABILITIES |
2.287 |
1.087 |
1.218 |
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TOTAL |
218.395 |
172.003 |
145.273 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
55.457 |
40.768 |
41.454 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
47.801
|
36.641 |
39.240
|
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Sundry Debtors |
72.103
|
59.403 |
48.009
|
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Cash & Bank Balances |
21.920
|
14.616 |
5.077
|
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Other Current Assets |
0.000
|
0.000 |
0.000
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Loans & Advances |
53.874
|
75.542 |
63.804
|
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Total
Current Assets |
195.698
|
186.202 |
156.130 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
25.525 |
29.771 |
40.100 |
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Other Current Liabilities |
7.235
|
25.196 |
12.211 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
32.760
|
54.967 |
52.311 |
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Net Current Assets |
162.938
|
131.235 |
103.819
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
218.395 |
172.003 |
145.273 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Income |
538.740 |
521.999 |
405.027 |
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Other Income |
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TOTAL |
538.740 |
521.999 |
405.027 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
|
520.786 |
509.275 |
395.376 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
520.786 |
509.275 |
395.376 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
17.954 |
12.724 |
9.651 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
4.959 |
3.962 |
3.510 |
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PROFIT BEFORE
TAX |
12.995 |
8.762 |
6.141 |
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Less |
TAX |
4.251 |
2.870 |
2.029 |
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PROFIT AFTER TAX
|
8.744 |
5.892 |
4.112 |
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EARNINGS IN FOREIGN
CURRENCY |
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|
FOB value of Sales |
3.607 |
2.352 |
33.614 |
|
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TOTAL EARNINGS |
3.607 |
2.352 |
33.614 |
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IMPORTS (Other than purchased on Highseas basis) |
|
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|
Raw Material/Trading Goods |
111.670 |
102.597 |
22.562 |
|
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Capital Goods |
0.423 |
0.000 |
0.000 |
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TOTAL IMPORTS |
112.093 |
102.597 |
22.562 |
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|
Earnings Per
Share (Rs.) |
13.70 |
9.23 |
6.44 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.62
|
1.13 |
1.02 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.17
|
3.86 |
3.11 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.20 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.78
|
4.21 |
4.24 |
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Current Ratio (Current Asset/Current Liability) |
|
5.97
|
3.39 |
2.98 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors: |
|
|
|
|
- For Goods and Expenses |
25.525 |
29.771 |
40.100 |
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FINANCIAL REVIEW:
During the year, the company earned income from operations of Rs.538.740 millions which shows an overall increase of 3.21% in comparison to that of the previous year. During the year the over all profit of the company has also increased substantially in comparison to the previous year. Jumped to Rs.8.744 millions from Rs.5.892 millions.
CONTINGENT LIABILITIES NOT PROVIDED FOR: (As on 31.03.2011)
v Bank Guarantee
Given by Bank – Rs.0.050 million
FORM 8:
|
Corporate
identity number of the company |
U25202GJ2002PTC040957 |
|
Name of the
company |
RANASARIA POLY PACK PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
83, Nutan Cloth Market, O/S Raipur Gate, E-Mail: pgtulsian_ca@rediffmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90105227 |
|
Type of charge |
Immovable Property Any interest in immovable property |
|
Particular of
charge holder |
Bank of |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental
memorandum of dep. of title deeds for extension of equitable mortgage
executed by company to secure modified, revised and increased fund based and
non fund based aggregate limits of Rs.122.500 millions registered with sub
registrar SRO Kalol at Sr. No.419 of Book No.1 on 18.01.2011 containing 8
pages. |
|
Date of
instrument Creating the charge |
13.01.2011 |
|
Amount secured by
the charge |
Rs.122.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: CC Stock/Book
debts 3.50% over BR PRSNT 12.50% p.a., EPC- 10% for 180 days/ Banks Rules,
FBP-as per FEDAI/RBI/BK'S rules, GUA/LC/Buyer
CRED- as per Banks Rules, Term Loan IV- 4.50% over BR PRSNT 13.50% p.a. Terms of
Repayment: CC Stock/ CC Book
Debt/ EPC/ FBP/ LC/ GUA/ Buyers Credit- On Demand / Annual Review Term Loan IV- 20
qtly installments of Rs.1.125 millions each commencing after 6 months from
the date of first disbursement Margin: CC Stock- 25%, CC Book Debts-
40%, EPC-10%, FBP/FBN-
Nil, GUA / LC (I/F)
/Buyers Credit-10% by way of TDR Extent and
Operation of the charge: First and
exclusive equitable mortgage charge on all the immovable property i.e. land
situate at Plot No.727/C Village Moti Bhoyan, Taluka Kalol District
Gandhinagar and all buildings, sheds structures and plant and machinery
attached to the earth to secure modified, revised and increased fund based
and non fund based aggregate facilities of Rs.122.500 millions alongwith
interest, penal interest, additional interest, liquidated damages, costs,
charges and commission and all other amt due to bank from time to time of
what so ever nature |
|
Short particulars
of the property charged |
All that piece
and parcel of land with building, sheds, structure etc situated at Plot
No.727/C Village Moti Bhoyan, Taluka Kalol, District Gandhinagar adm 13159.50
sq mtrs |
|
Date of latest
modification prior to the present modification |
09.11.2009 |
|
Particulars of
the present modification |
Bank has revised
/ reduced some of the limit and granted additional limit (FB and NFB) of
Rs.52.500 millions and thereby modified, revised and increased fund based and
non fund based grand total aggregate limits from Rs.73.221 millions to
Rs.122.500 millions. Thus first and exclusive equitable mortgage charge on
all immovable prop of the company being land, bldg, sheds, structure and
fixed plant and machinery etc has been extended and will operate for
Rs.122.500 millions w.e.f. 13.01.2011. |
FIXED ASSETS:
v
v
v Building
v Residential Building
v Plant and Machinery
v Furniture and Fixtures
v Office Equipments
v
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.49.21 |
|
|
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.48 |
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.