|
Report Date : |
04.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
L. N. PACKAGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-8/2-B, IDA Uppal, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.02.1998 |
|
|
|
|
Com. Reg. No.: |
028902 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.756 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209AP1998PTC028902 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer of Flexible Packaging Materials |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRAs Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
a huge accumulated losses recorded by the company profitability of the company
is under measure. However, trade relations are reported as fair. Business is active. Payments are reported
to be slow. The company can be considered for business dealings on a secured 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.
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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Gopal Rao |
|
Designation : |
Director |
|
Contact No.: |
91-40-27803715 |
|
Date : |
02.06.2012 |
LOCATIONS
|
Registered Office /Factory : |
C-8/2-B, IDA Uppal, Hyderabad 500039, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27202555 / 27203715 |
|
Fax No.: |
91-40-27200973 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. K Gopala Rao |
|
Designation : |
Director |
|
Address : |
11-118, Ramanthapur, Hyderabad 500013, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.01.1947 |
|
Date of Appointment : |
13.02.1998 |
|
|
|
|
Name : |
Mr. K Sambasiva Rao |
|
Designation : |
Director |
|
Address : |
11-118, Ramanthapur, Hyderabad 500013, Andhra Pradesh, India |
|
Date of Birth/Age : |
07.11.1952 |
|
Date of Appointment : |
13.02.1998 |
|
|
|
|
Name : |
Mrs. K Vijaya Laxshmi |
|
Designation : |
Director |
|
Address : |
11-118, Ramanthapur, Hyderabad 500013, Andhra Pradesh, India |
|
Date of Birth/Age : |
03.08.1949 |
|
Date of Appointment : |
13.02.1998 |
|
|
|
|
Name : |
Mrs. K Krishna Kumari |
|
Designation : |
Director |
|
Address : |
11-118, Ramanthapur, Hyderabad 500013, Andhra Pradesh, India |
|
Date of Birth/Age : |
10.01.1961 |
|
Date of Appointment : |
13.02.1998 |
KEY EXECUTIVES
|
Name : |
Mr. Omkar |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
K Gopala Rao |
150200 |
|
K Sambasiva Rao |
150650 |
|
K Vijaya Laxshmi |
3450 |
|
K Krishna Kumari |
3800 |
|
K Vara Lakshmi |
10500 |
|
K Suneetha |
2000 |
|
K Haripriya |
4050 |
|
K Supriya |
7500 |
|
P V Prasad |
33000 |
|
P Panduranga Rao |
15500 |
|
P Atchyuta Ramaiah |
20000 |
|
B C Naidu |
15000 |
|
V Rajya Lakshmi |
2000 |
|
P Sambasiva Rao |
9000 |
|
Raj Mohan Tella |
30000 |
|
Y N Murthy |
18500 |
|
N Janaki |
150 |
|
N Siva Sankar |
150 |
|
C Vejayanand |
100 |
|
C Ranjanie |
100 |
|
Total |
475650 |
AS ON 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
50.00 |
|
Other |
|
50.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Flexible Packaging Materials |
PRODUCTION STATUS
AS ON 31.03.2011
Installed Capacity
:
1080M Tonnes P.A.
|
Particulars |
Unit |
Actual
Production |
|
Polyethylene Bags |
Nos. |
4000429 |
|
Polyethylene Films |
Kgs |
157346 |
|
Polyethylene Films Plain and Printed |
Kgs |
23976 |
|
Polyethylene Waste |
Kgs |
18047 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Andhra Bank, SSI Branch, Uppal, Hyderabad 500039,
Andhra Pradesh, India ·
Kotak Mahindra Bank ·
HDFC Bank |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A Madhushudana and Company Chartered Accountant |
|
Address : |
101, Doyen Chambers, 8-3-319/11, Yellareddyguda, Hyderabad 500073,
Andhra Pradesh, India |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10 each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
475650 |
Equity Shares |
Rs. 10 each |
Rs.4.756 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 |
4.756 |
4.756 |
4.756 |
|
|
2] Share Application Money |
8.088 |
6.976 |
6.976 |
|
|
3] Reserves & Surplus |
2.000 |
2.000 |
2.000 |
|
|
4] (Accumulated Losses) |
(9.498) |
(8.697) |
(8.427) |
|
|
NETWORTH |
5.346 |
5.035 |
5.305 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.043 |
10.194 |
8.696 |
|
|
2] Unsecured Loans |
8.872 |
6.854 |
7.671 |
|
|
TOTAL BORROWING |
17.915 |
17.048 |
16.367 |
|
|
DEFERRED TAX LIABILITIES |
0.288 |
0.375 |
0.459 |
|
|
|
|
|
|
|
|
TOTAL |
23.549 |
22.458 |
22.131 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.752 |
6.649 |
6.504 |
|
|
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 |
15.381
|
12.118 |
11.262 |
|
|
Sundry Debtors |
9.946
|
9.417 |
8.499 |
|
|
Cash & Bank Balances |
1.008
|
0.937 |
0.490 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.895
|
2.385 |
2.601 |
|
Total
Current Assets |
30.230
|
24.857 |
22.852 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.636
|
5.991 |
4.099 |
|
|
Other Current Liabilities |
6.797
|
3.057 |
3.056 |
|
|
Provisions |
0.000
|
0.000 |
0.070 |
|
Total
Current Liabilities |
12.433
|
9.048 |
7.225 |
|
|
Net Current Assets |
17.797
|
15.809 |
15.627 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
23.549 |
22.458 |
22.131 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
39.988 |
39.741 |
40.770 |
|
|
|
Other Income |
0.958 |
0.947 |
0.939 |
|
|
|
TOTAL (A) |
40.946 |
40.688 |
41.709 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials and Manufacturing Expenses |
37.397 |
31.719 |
31.899 |
|
|
|
Increase/(Decrease) in Finished Goods |
(4.690) |
1.205 |
0.724 |
|
|
|
Excise Duty |
3.521 |
2.910 |
4.428 |
|
|
|
Administrative Expenses |
3.092 |
2.459 |
2.347 |
|
|
|
TOTAL (B) |
39.320 |
38.293 |
39.398 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.626 |
2.395 |
2.311 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.610 |
1.842 |
2.291 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.016 |
0.553 |
0.020 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.895 |
0.888 |
0.913 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(0.879) |
(0.335) |
(0.892) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.079) |
(0.065) |
(0.075) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(0.800) |
(0.270) |
(0.817) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS BALANCE BROUGHT FORWARD |
(8.697) |
(8.427) |
(7.609) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(9.498) |
(8.697) |
(8.427) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.68) |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(1.95)
|
(0.66) |
(1.95) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.19)
|
(0.84) |
(2.18) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.44)
|
(1.06) |
(3.03) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16)
|
(0.06) |
(0.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.73
|
5.25 |
4.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.43
|
2.74 |
3.16 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Office Equipments
·
Vehicles
FORM 8
|
Corporate
identity number of the company |
U25209AP1998PTC028902 |
|
Name of the
company |
L. N. PACKAGING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-8/2-B, IDA Uppal, Hyderabad 500039, Andhra Pradesh, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Simple Mortgage |
|
Particular of
charge holder |
Andhra Bank, SSI Branch, Uppal, Hyderabad 500039, Andhra Pradesh,
India Email: ssiab@yahoo.com |
|
Nature of
instrument creating charge |
-- |
|
Date of
instrument Creating the charge |
-- |
|
Amount secured by
the charge |
Rs. 12.000
millions |
|
Description of
the property charged indicating whether it is a charged on |
·
Immovable
property ·
Book
debts ·
Plant
and Machinery ·
Stock
in Trade |
|
Short particulars
of the property charged (Including location of the property) |
Stock in trade
and book debts Factory land and
building at C-8/2B-12, IDA, Uppal, Hyderabad - 500 039 House plot
measuring 666.66 Sq.Yds at Habsiguda, in Sy.No.25 belong to K.Gopala Rao and
K.Sambasiva Rao Directors of the Company. |
|
Brief description
of the instrument modifying the charge under section 135 |
Renewal and Enhancement
OCC agreement dated 15-02-2005 vide charge ID 90123302 dt 15-02-2005 |
|
Date of
instrument modifying the charge |
29.07.2006 |
|
Particulars of
the present modification |
Renewal and
Enhancement of Working Capital limits from Rs. 7.000 millions to Rs.9.000
millions Renewal of
ILC/FLC of Rs.2.500 millions Fresh Sanction
CBP facility of Rs. 0.500 millions |
|
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 |
No |
|
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 |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
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 Intl 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 companys 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.55.92 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
14 |
This score serves as a reference to assess SCs 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.