|
Report Date : |
06.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
LOTUS TAPES ( |
|
|
|
|
Registered
Office : |
Shreechhaya Building 61/27 Bharati Niwas Housing Society, Erandawana,
Pune 411004, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.03.2004 |
|
|
|
|
Com. Reg. No.: |
018988 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.905 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2004PTC018988 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEL04120E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL0595K |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Converting of Adhesive Tape and Adhesive Application |
|
|
|
|
No. of Employees
: |
30 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 47096 |
|
|
|
|
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 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 PARTED BY
|
Name : |
Mr. Nitin |
|
Designation : |
Team Leader in Admin |
|
Date : |
06.07.2012 |
LOCATIONS
|
Registered Office : |
Shreechhaya Building 61/27 Bharati Niwas Housing Society, Erandawana,
Pune 411004, Maharashtra, India |
|
Tel. No.: |
91-20-67903400 |
|
Mobile No.: |
91-9372268023 (Mr. Kedar) |
|
Fax No.: |
91-20-67903450 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
S No 300 Village Ambadvet Behind Datta Temp Tal Mulshi, Pune 412108,
Maharashtra, India |
|
Tel. No.: |
91-20-32415451 |
|
Fax No.: |
91-20-20291014 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Atul R Parchure |
|
Designation : |
Director |
|
Address : |
Flat No.2, Raj Prasad, Tulsibaugwale
colony, Sahakarnagar, Pune-2, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1962 |
|
Date of Appointment : |
08.03.2004 |
|
|
|
|
Name : |
Mr. Milind M Dixit |
|
Designation : |
Director |
|
Address : |
202,Sarang Apts,16, Tappobhumi,Dattawadi,
Pune-30, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1964 |
|
Date of Appointment : |
08.03.2004 |
|
|
|
|
Name : |
Mr. Satish R Parchure |
|
Designation : |
Directpr |
|
Address : |
Shreechaya Bldg, 61/27, Shriniwas Hsg
Soc, Erandewane, Pune-411004, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1933 |
|
Date of Appointment : |
08.03.2004 |
KEY EXECUTIVES
|
Name : |
Mr. Nitin |
|
Designation : |
Team Leader in Admin |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mr. Atul Ramchandra Parchure Jtly with Mrs. Arti Parchure |
13000 |
|
Mr. Milind Dixit Jtly with Vrushali Dixit |
13000 |
|
Mr. Satish Parchure Jtly with Mrs. Suchitra Parchure |
13000 |
|
Mr. Satish G. Khare |
50 |
|
Total |
39050 |
AS ON 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
99.00 |
|
Other top fifty shareholders |
|
1.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Converting of Adhesive Tape and Adhesive Application |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesaler, Retailers |
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|
||||||||||||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
30 Approximately |
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|
Bankers : |
·
Bank of India, Lavale Branch, At and Post Lavale,
Taluka Mulshi, Pune 411042, Maharashtra, India ·
Janata Sahakari Bank Limited, 1444, Shukawar
Peth, Thorle Bajirao Road Branch, Pune 411002, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B G Varma and Associates Chartered Accountant |
|
Address : |
Office No. 2 S No. 1328, Saraseati Apartment, Near Bharat Natya Mandir,
Sadashiv Peth, Pune 411030, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs. 100 each |
Rs.4.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39050 |
Equity Shares |
Rs. 100 each |
Rs.3.905 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
65.000 |
Expected Sales (2012-2013) : Rs.80.000 millions
The above information has been parted by Mr. Nitin
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.905 |
3.905 |
0.501 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.869 |
3.003 |
0.814 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
11.774 |
6.908 |
1.315 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.414 |
0.528 |
0.000 |
|
|
2] Unsecured Loans |
11.876 |
17.314 |
14.076 |
|
|
TOTAL BORROWING |
12.290 |
17.842 |
14.076 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
24.064 |
24.750 |
15.391 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.198 |
15.847 |
10.637 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.058 |
2.543 |
2.281 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.977
|
2.580 |
2.308 |
|
|
Sundry Debtors |
13.337
|
16.208 |
9.415 |
|
|
Cash & Bank Balances |
0.334
|
0.046 |
0.241 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
4.002
|
2.516 |
0.437 |
|
Total
Current Assets |
23.650
|
21.350 |
12.401 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.115
|
9.666 |
4.595 |
|
|
Other Current Liabilities |
11.693
|
4.379 |
4.924 |
|
|
Provisions |
2.074
|
1.000 |
0.441 |
|
Total
Current Liabilities |
19.882
|
15.045 |
9.960 |
|
|
Net Current Assets |
3.768
|
6.305 |
2.441 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.040 |
0.055 |
0.032 |
|
|
|
|
|
|
|
|
TOTAL |
24.064 |
24.750 |
15.391 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
65.328 |
58.352 |
31.567 |
|
|
|
Other Income |
0.215 |
0.181 |
0.000 |
|
|
|
TOTAL |
65.543 |
58.533 |
31.567 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
58.512 |
55.502 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
7.031 |
3.031 |
1.466 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.268 |
1.077 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.763 |
1.954 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
121.97 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.26
|
3.33 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.76
|
5.19 |
4.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.21
|
8.14 |
6.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.59
|
0.43 |
1.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.73
|
4.76 |
18.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.41 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
6.115
|
9.666 |
4.595 |
FIXED ASSETS:
·
Freehold Land
·
Building
·
Electrical Installation
·
Machinery
·
Moulds and Dies
·
Air Conditioner
·
Mobile Installation
·
Furniture
·
Vehicle
·
Computer
·
Software
·
Printers
FORM 8
|
Corporate
identity number of the company |
U29299PN2004PTC018988 |
|
Name of the
company |
LOTUS TAPES (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shreechhaya Building 61/27 Bharati Niwas Housing Society, Erandawana,
Pune 411004, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Bank of India, Lavale Branch, At and Post Lavale, Taluka Mulshi, Pune
411042, Maharashtra, India |
|
Nature of
instrument creating charge |
Equitable
Mortgage Recording Of Oral Assent. |
|
Date of
instrument Creating the charge |
10.06.2010 |
|
Amount secured by
the charge |
Rs. 15.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 0.50% below
BOIPLR Minimum 11.50% p.a. or such other rate of interest as may be notified
to the borrower by the bank from time to time. Terms of repayment Repayment on
Demand Margin As per norms of
the Bank Extent and operation of the charge First Charge on
Assets mortgaged in favour of Bank Other Facility: Cash
Credit against hypothecation of Stock Rs. 5.000 millions Book Debts: Rs. 15.000 millions ========================= Maximum Rs.
15.000 millions |
|
Short particulars
of the property charged (Including location of the property) |
All that piece
and parcel of land bearing S. No. 300/1,300/2,301,302/1,302/2 admg. 1476
sq.mt. out of plot no.2, total admg 2761 sq.mt. and admg 1148 sq.mt. out
of plot no.3 admg 2263 sq. mt. and
part of land (422.5 sq.mt) towards south side of plot no.4 admeasure 3046.5
sq.mt situated at Ambadvet Post Paud. Tal. Mulshi, Dist Pune. All that part and
parcel of land plot No.2 totally admg 1285 sq. mt. out of the 2761 sq. mt.
land bearing S.No.300/1, 300/2,301,302/1,302/2 of village Ambadvet, Tal.
Mulshi, Dist. Pune. Equitable
Mortgage of co.s immovable properties comprising of land and bldg. and other
structures, machinery and plant and other fixtures and fittings erected and
installed thereon. |
|
Particulars of
the present modification |
Company has given
additional security of its immovable property by mortgaging its immovable
property to secure the cash credit limit of Rs.15.000 millions. Other terms
remains unchanged. |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
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.55.03 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.68.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
PRL |
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.