MIRA
INFORM REPORT
|
Report Date : |
11.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ALPHA PLASTOMER PRIVATE LIMITED |
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Formerly Known
As : |
SUNAKI PLOYMERS PRIVATE LIMITED |
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Registered Office
: |
1, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
14.02.1989 |
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Com. Reg. No.: |
04-011890 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.390 million |
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CIN No.: [Company Identification
No.] |
U25209GJ1989PTC011890 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTA00094D |
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PAN No.: [Permanent Account No.] |
AACCA5049C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Pet Bottles for Pharmaceuticals,
Cosmetics, Pof Shrink Film, Pet Perform |
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|
No. of Employees
: |
150 (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 460000 |
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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. There appears
some dip in the profitability of the company during the year 2011. However, trade relations are reported as fair. Business is active.
Payments are reported to be usually correct. 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.
INFORMATION PARTED BY
|
Name : |
Mr. R. G. Parud |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-261-2338100 |
|
Date : |
10.07.2012 |
LOCATIONS
|
Registered Office / Corporate Office : |
1, Jash Marketing Road, Surat-395002, Gujarat, India |
|
Tel. No.: |
91- 261-2422666 / 2454036 / 2338100 |
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Fax No.: |
91-261-2601301 |
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E-Mail : |
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Website : |
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Factory : |
Plot No.374, Alpha Industrial Park, Athiawad, Dabhel-396210, Daman,
India |
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Tel No.: |
91-260-2242948 / 2242693 / 2242694 |
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Fax No.: |
91-260-2242978 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Nilaksh Shyam Agrawal |
|
Designation : |
Director |
|
Address : |
502, Prabhu Darshan Society, Lal Bunglow, Athwalines, Surat-395007,
Gujarat, India |
|
Date of Birth/Age : |
09.07.1982 |
|
Date of Appointment : |
15.09.2006 |
|
DIN No : |
00577460 |
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|
|
|
Name : |
Mr. Kamal Kanaiyalal Agarwal |
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Designation : |
Director |
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Address : |
502, Prabhu Darshan Society, Lal Bunglow, Athwalines, Surat-395007,
Gujarat, India |
|
Date of Birth/Age : |
10.01.1961 |
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Date of Appointment : |
27.05.2004 |
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DIN No : |
00382775 |
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|
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|
Name : |
Mr. Kamalkishore Saurabh Agarwal |
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Designation : |
Director |
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Address : |
25, Maitry Raw House, Near Sarjan Society, Parel Point, Surat-395007,
Gujarat, India |
|
Date of Birth/Age : |
18.03.1985 |
|
Date of Appointment : |
24.05.2007 |
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DIN No : |
01519920 |
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Name : |
Mr. Jugal Kanaiyalal Agrawal |
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Designation : |
Director |
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Address : |
39, Maitry Raw House, Near Sarjan Society, Parel Point, Surat-395007, Gujarat,
India |
|
Date of Appointment : |
29.06.2009 |
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DIN No : |
00382706 |
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Name : |
Mr. Shyam K Agarwal |
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Designation : |
Director |
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Address : |
11/B, Ratna Milan apartment, Near Panjara Pole, Ghod Dod Road,
Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
07.05.1959 |
|
Date of Appointment : |
01.10.2009 |
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DIN No : |
00382661 |
KEY EXECUTIVES
|
Name : |
Mr. R. G. Parud |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
K Shyam Agrawal |
3510 |
|
Shyam Sharita Agrawal |
3510 |
|
Kanaiyalal Kamal Agrawal |
1000 |
|
Kanalyala Jugal Agrawal |
2900 |
|
Jugal Jiran Agrawal |
21900 |
|
S Kanaiyalal Agrawal |
2390 |
|
S Nilaksh Agrawal |
2390 |
|
K Santosh Agrawal |
700 |
|
K Saurabh Agrawal |
700 |
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TOTAL |
39000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pet Bottles for Pharmaceuticals,
Cosmetics, Pof Shrink Film, Pet Perform |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Gulf Countries |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Shrink / Stretch Film / LFT and Sheets / Bags |
Tones |
4654.46 |
|
Bottles |
Pcs |
105581508 |
GENERAL INFORMATION
|
Suppliers : |
·
Basell |
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Customers : |
Wholesalers and Retailers ·
Indoco Remedies Limited |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
·
Oriental Bank of Commerce, Jash Market, Ring
Road, Surat-395002, Gujarat, India · Kotak Mahindra Bank · ICICI Bank Limited · HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
SNK and Company (Viral Lokhandwala) Chartered Accountant |
|
Address : |
SNK House, 31-A, Adarsh Society, Opposite Seventh Day Adventist
School, Athwa Lines, Surat-395001, Gujarat, India |
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Tel. No.: |
91-261-2656273-4 / 6544791-2 / 3299540-47 |
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Fax No.: |
91-261-2656868 |
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E-Mail : |
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Pan No.: |
AAJFS8455L |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
39000 |
Equity Shares |
Rs.10/- each |
Rs. 0.390
Million |
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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 |
0.390 |
0.390 |
0.390 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
115.367 |
98.533 |
85.249 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
115.757 |
98.923 |
85.639 |
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LOAN FUNDS |
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1] Secured Loans |
64.398 |
9.773 |
2.010 |
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2] Unsecured Loans |
1.467 |
37.216 |
32.290 |
|
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TOTAL BORROWING |
65.865 |
46.989 |
34.300 |
|
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DEFERRED TAX LIABILITIES |
3.004 |
4.581 |
4.616 |
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TOTAL |
184.626 |
150.493 |
124.555 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
74.183 |
82.991 |
51.409 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.010 |
0.010 |
0.010 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
35.139
|
25.626
|
17.538 |
|
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Sundry Debtors |
28.151
|
26.746
|
19.956 |
|
|
Cash & Bank Balances |
29.816
|
10.249
|
5.948 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
51.016
|
43.327
|
51.760 |
|
Total
Current Assets |
144.122
|
105.948 |
95.202 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.931
|
16.805 |
11.254 |
|
|
Other Current Liabilities |
13.901
|
16.061
|
9.060 |
|
|
Provisions |
8.857
|
5.590
|
1.752 |
|
Total
Current Liabilities |
33.689
|
38.456 |
22.066 |
|
|
Net Current Assets |
110.433
|
67.492
|
73.136 |
|
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|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
184.626 |
150.493 |
124.555 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
507.531 |
509.908 |
204.409 |
|
|
|
Other Income |
1.011 |
0.722 |
1.134 |
|
|
|
TOTAL (A) |
508.542 |
510.630 |
205.543 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
404.533 |
165.165 |
|
|
|
Manufacturing and Operating Expenses |
471.752 |
39.035 |
14.497 |
|
|
|
Employees Remuneration and Benefits |
|
21.403 |
6.130 |
|
|
|
Administrative Expenses |
|
19.262 |
5.416 |
|
|
|
Increase / Decrease in Stock |
|
(3.868) |
(0.363) |
|
|
|
TOTAL (B) |
471.752 |
480.365 |
190.845 |
|
|
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
30.265 |
14.698 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
NA |
1.025 |
3.430 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
35.932 |
29.240 |
11.268 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
NA |
11.931 |
8.274 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
17.038 |
17.309 |
2.994 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
5.333 |
0.108 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
11.975 |
2.886 |
|
|
|
|
|
|
|
|
|
|
Provision for
Tax –Deferred Tax |
NA |
(0.035) |
(3.303) |
|
|
|
Previous year
Adjustments |
NA |
0.306 |
0.057 |
|
|
|
Loss on Sale of
Assets |
NA |
0.685 |
3.607 |
|
|
|
|
|
|
|
|
|
|
MAT Credit
Entitlement |
NA |
0.000 |
0.062 |
|
|
|
Profit On Sale
of Assets |
NA |
2.264 |
0.030 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
75.619 |
73.002 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
88.902 |
75.619 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
0.000 |
11.748 |
1.594 |
|
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
118.544 |
67.077 |
50.682 |
|
|
|
Stores & Spares |
0.294 |
0.086 |
0.000 |
|
|
TOTAL IMPORTS |
118.838 |
67.163 |
50.682 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
307.10 |
73.97 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
550.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 700.000 Millions.
The above information has been parted by Mr. R. G. Praud.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
2.35 |
1.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.36
|
3.39 |
1.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.80
|
9.16 |
2.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.17 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.89
|
0.91 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.28
|
2.76 |
4.31 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
No |
|
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 |
Yes |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
10.931 |
16.805 |
11.254 |
FORM 8
|
Corporate
identity number of the company |
U25209GJ1989PTC011890 |
|
Name of the
company |
ALPHA PLASTOMER PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
1, Jash Marketing Road, Surat-395002, Gujarat, India |
|
This form is for |
Modification of charge |
|
Charge
identification number of the charge to be modified |
10119426 |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
Oriental Bank of Commerce, Jash Market, Ring Road, Surat-395002,
Gujarat, India |
|
Nature of
instrument creating charge |
Supplemental
Agreement of Hypothecation of Assets |
|
Date of
instrument Creating the charge |
28.01.2010 |
|
Amount secured by
the charge |
Rs. 60.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest PLR minus
1.50%. i.e.10.50 % p.a. at present. Terms of
repayment On demand Margin 25% Extent and
operation of the charge 1st
charge on the assets of company Other Bifurcation
of Limits Sanctioned: Cash
Credit 10.000 millions Letter
of Credit 50.000 millions (Enhanced From 15.000 millions) |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of stock and book debts of the company. Exclusive
charge over entire Fixed Assets (Present and Future) of the company. |
|
Particulars of
the present modification |
Letter
of Credit Limit Enhanced from 15.000 Millions to 50.000 millions. Hence
Total Limits Sanctioned Stands as follows: Cash
Credit 10.000 millions Letter
of Credit 50.000 millions (Enhanced From 15.000
millions) Total 60.000 millions |
TRADE REFERENCES
· Indoco Remedies Limited
· Basell
FIXED ASSETS
·
Accessories and Utilities
·
Advertisement Holdings
·
Computer
·
Electric Installation
·
Furniture and Fixtures
·
Motor and Dies
·
Office Equipments
·
Plant and Machinery
·
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. 55.80 |
|
|
1 |
Rs. 86.53 |
|
Euro |
1 |
Rs. 68.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--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.