|
Report Date : |
18.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
MANJUSHREE POLYPACKS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.08.2000 |
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Com. Reg. No.: |
02-006283 |
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Capital
Investment / Paid-up Capital : |
Rs.46.110
millions |
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CIN No.: [Company Identification
No.] |
U52209AS2000PTC006283 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SHLM00124F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Polyester Poly-laminated Pouches, HM/HDPE
Plain/Printed Bags/Sleeves etc. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 211000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. But
the company’s profitability appears to be low. However, trade relations are reported
to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Raja |
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Designation : |
Accounts Manager |
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Contact No.: |
91-361-2541437 |
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Date : |
15.06.2012 |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-361-2541437/ 2544240 |
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Fax No.: |
91-361-2511777 |
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E-Mail : |
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Website : |
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Factory : |
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Tel. No.: |
91-361-2274230 |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Ranjit Agarwal |
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Designation : |
Director |
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Address : |
5703/4, Neha Apartment, |
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Date of Birth/Age : |
28.08.1971 |
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Date of Appointment : |
26.08.2000 |
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DIN No.: |
00812297 |
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Other Directorship :
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Name : |
Mr. Shekhar Agarwal |
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Designation : |
Director |
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Address : |
5301/2, Neha Apartment, |
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Date of Birth/Age : |
18.07.1974 |
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Date of Appointment : |
26.08.2000 |
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DIN No.: |
00812204 |
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Other Directorship :
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Name : |
Mr. Puneet Agarwal |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
02.12.1979 |
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Date of Appointment : |
01.12.2010 |
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DIN No.: |
01010701 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Raja |
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Designation : |
Accounts Manager |
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E-Mail : |
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Name : |
PKJ and Associates |
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Designation : |
Company Secretaries |
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Address : |
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Tel./Fax No.: |
91-361-2601462 |
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Mobile No.: |
91-9435015184 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Pradip Kumar Agarwal |
|
206000 |
|
Ranjit Kumar Agarwal |
|
75000 |
|
Shekhar Agarwal |
|
20000 |
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Makhanlal Agarwala |
|
195000 |
|
Rika Agarwala |
|
32500 |
|
Suman Budhia |
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220000 |
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Sumitra Agarwala |
|
247500 |
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Prem Chand Agarwala |
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140000 |
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Sangita Agarwala |
|
187500 |
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Radheyshyam Agarwala |
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150000 |
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Bhagwati Devi Agarwala |
|
195000 |
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Gita Devi Agarwala |
|
252500 |
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Bobby Agarwala |
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190000 |
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Puneet Agarwal |
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35000 |
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Prachi Agarwal |
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185000 |
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Bichitra Agarwal |
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20000 |
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Bhagwan Das Agarwala |
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100000 |
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Chanda Devi Saraf |
|
70000 |
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Makhanlal Agarwala |
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197500 |
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Baxi Ram Agarwala |
|
352500 |
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Radheyshaym Agarwala |
|
232500 |
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Bimla Devi Saraf |
|
60000 |
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Satyanarayanan Agarwala |
|
137500 |
|
Jenko Business Private Limited, |
|
562500 |
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Bimla Devi Agarwala |
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10000 |
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Roshni Agarwal |
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100000 |
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Ranjit Kumar Agarwala |
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100000 |
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Bichitra Agarwala |
|
100000 |
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Prem Chand Agarwala |
|
200000 |
|
Sitaram Agarwala |
|
37500 |
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Total |
|
4611000 |
As on 29.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
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Bodies
corporate |
|
12.00 |
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Directors
or relatives of directors |
|
82.00 |
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Other
top fifty shareholders |
|
6.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polyester Poly-laminated Pouches, HM/HDPE
Plain/Printed Bags/Sleeves etc. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Licensed
Capacity (MT) |
Installed
Capacity* (MT) |
Production Qty.
(MT) |
|
Polyester
Poly-laminated Pouches, HM/HDPE Plain/Printed Bags/Sleeves etc. |
Not Specified |
1800MT |
1010.601 |
(*) Based on
Triple Shift Operation assuming 300 working days a year as certified by the
Management, which has been relied upon by the Auditors, being a technical
matter.
GENERAL INFORMATION
|
Customers : |
v Tata Chemicals Limited v Britannia Industries Limited v Fena Limited v Godrej Consumer Products Limited v Hindustan Unilever Limited v Dhunseri Petrochem and Tea Limited v Hindustan Paper Corporation Limited v Jyothy Laboratories Limited v
Eveready Industries ( v Dharampal Satyapal Limited v Emami Limited v Tata Tea Limited v Reckitt Benckiser India Limited v Ozone Ayurvedic Limited v Glaxo Smith Kline Consumer Healthcare Limited v S C Johnson Product Private Limited v
C G Foods |
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No. of Employees : |
Information declined by the management |
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Bankers : |
State Bank of |
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Facilities : |
Notes: The term loan
and working capital loan availed from state Bank of India, Commercial Branch,
Guwahati are secured, interalia, by equitable mortgage by deposit of title
deeds of freehold land together with buildings and structures thereon, fixed
machineries and fixtures erected/installed therein and also by hypothecation
charge over all the current and movable assets including stocks, spares,
stores and accessories, machineries, book debts and receivables, both present
and future, besides personal guarantee of the directors, namely Mr. Pradip
Kumar Agarwal, Mr. Ranjit Agarwal and Mr. Shekhar Agarwal.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Manoj Dinesh and Company Chartered Accountants |
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Address : |
Ground Floor, |
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Income-tax
PAN of auditor or auditor's firm : |
AGBPM5952C |
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Group Companies
: |
v Manjushree Packaging v Kakarania Innovative Systems Private Limited v
Excellent Gravure Private Limited |
CAPITAL STRUCTURE
After 29.09.2011
Authorised Capital : Rs.60.000 millions
Issued, Subscribed & Paid-up Capital : Rs.46.110
millions
As on 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4611000 |
Equity Shares |
Rs.10/- each |
Rs.46.110
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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
46.110 |
46.110 |
46.110 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.581 |
2.680 |
1.347 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
52.691 |
48.790 |
47.457 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
47.998 |
36.913 |
11.665 |
|
|
2] Unsecured Loans |
13.376 |
8.613 |
0.000 |
|
|
TOTAL BORROWING |
61.374 |
45.526 |
11.665 |
|
|
DEFERRED TAX LIABILITIES |
1.066 |
0.085 |
0.130 |
|
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|
|
|
|
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TOTAL |
115.131 |
94.401 |
59.252 |
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
47.812 |
17.006 |
17.594 |
|
|
Capital work-in-progress |
0.000 |
25.685 |
18.028 |
|
|
|
|
|
|
|
|
INVESTMENT |
15.922 |
12.374 |
7.127 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.738
|
21.396 |
14.033 |
|
|
Sundry Debtors |
24.108
|
12.103 |
7.769 |
|
|
Cash & Bank Balances |
2.238
|
0.423 |
3.443 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
10.038
|
7.734 |
1.679 |
|
Total
Current Assets |
71.122
|
41.656 |
26.924 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
15.584
|
1.054 |
9.376 |
|
|
Other Current Liabilities |
2.824
|
0.720 |
0.648 |
|
|
Provisions |
1.361
|
0.622 |
0.505 |
|
Total
Current Liabilities |
19.769
|
2.396 |
10.529 |
|
|
Net Current Assets |
51.353
|
39.260 |
16.395 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.044 |
0.076 |
0.108 |
|
|
|
|
|
|
|
|
TOTAL |
115.131 |
94.401 |
59.252 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
182.240 |
76.999 |
74.647 |
|
|
|
Other Income |
1.372 |
0.261 |
0.101 |
|
|
|
TOTAL (A) |
183.612 |
77.260 |
74.748 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
169.688 |
72.389 |
71.696 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
169.688 |
72.389 |
71.696 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13.924 |
4.871 |
3.052 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
5.513 |
1.815 |
0.388 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.411 |
3.056 |
2.664 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.312 |
1.529 |
1.393 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.099 |
1.527 |
1.271 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.198 |
0.194 |
0.155 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.901 |
1.333 |
1.116 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.680 |
1.347 |
0.231 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.581 |
2.680 |
1.347 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.85 |
0.29 |
0.24 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.12
|
1.73 |
1.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.35
|
1.98 |
1.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.13
|
2.60 |
2.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.54
|
0.98 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.60
|
17.39 |
2.56 |
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) Constitutions
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 |
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 |
Yes |
|
17) Major
suppliers |
No |
|
18) Major
customers |
Yes |
|
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 |
FINANCE:
The Directors
confirm that funds obtained from bankers as working capital borrowings and term
loan have been duly utilised for the purposes for which the same are meant.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U52209AS2000PTC006283 |
|
Name of the
company |
MANJUSHREE POLYPACKS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
E-Mail: gkacs@rediffmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90266521 |
|
Type of charge |
Immovable
Property Book Debts Movable Property
(not being pledge |
|
Particular of
charge holder |
State Bank of E-Mail: sbi04418@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
SME-1-Letter of
Arrangement dated 23.12.2010 SME-4-Supplemental
Agreement of loan cum hypothecation dated 23.12.2010 SME-8-Title deeds
(3) dated 24.12.2010 and 05.01.2011 |
|
Date of
instrument Creating the charge |
23.12.2010 |
|
Amount secured by
the charge |
Rs.50.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: CC: Interest-
6.75% above base rate (Base Rate 7.60%). Present effective Rate 14.35% p.a. TL: Interest-
7.50% above base rate (Base Rate 7.60%). Present effective Rate 15.10% p.a. Terms of
Repayment: CC- Repayable on
Demand TL- Payable by/in
20 installments of Rs.1.250 millions each. Margin: Raw Materials-25% Semi-Finished
Goods-25% Finished
Goods-25% Components/Consumables/Spares-25% Domestic
Receivables (Cover Period 60 days)-40% Extent and
Operation of the charge: 1.EM of land
measuring 2B-1K belonging to the Company
2.Extention of EM of Land measuring 1B-10L belonging to Mr. Pradeep
Kumar Agarwal 3. Extension of EM of Land measuring 1B belonging to Mr. Shekhar Agarwal -all
covered by Dag No. 628/669 (old)/4626 (new) of K.P. Patta No.46 (old)/482
(new)-situated at Village Fatasil, Mouza-Beltola, District Kamrup (Assam). Property 2 and 3
has been charged as collateral security for the company and for Manjushree
Packaging |
|
Short particulars
of the property charged |
Primary:
CC-Hypothecation of the stocks of raw materials, stock in process, finished
goods, book debts, consumables and other current assets of the company. Primary: TL- EM
of factory land measuring 2B-1K belonging to the company and building thereon
and Hypothecation charge on Plant and Machinery acquired by the company out
of term loan. Collateral:
Details of Property (2 and 3), Hypothecation charge on existing Plant and
Machineries and other movable fixed assets of the company. Liquid securities
of Rs.0.800 million in the form of NSC/fixed Deposit Personal
Guarantee of Sri Shekhar Agarwal, Ranjit Agarwal and Pradip Kumar Agarwal |
|
Whether any of the property or interest therein under reference is not
registered in the name of the company |
Yes |
|
If yes, in whose name it is registered |
Property 2 in the name of Sri Pradeep Kumar Agarwal and Property 3 in
the name of Sri Shekhar Agarwal |
|
Date of latest
modification prior to the present modification |
28.03.2009 |
|
Particulars of
the present modification |
The present
modification is made for increasing the overall limit to 50.000 millions
being the CC limit increased from 17.000 millions 30.000 millions and TL of
Rs.20.000 millions (outstanding) . New Overall limit
is as under CC (Stocks and Book
debts): Rs.30.000 millions TL (Outstanding):
Rs.20.000 millions Total: Rs.50.000
millions (Fund Based) |
FIXED ASSETS:
v
v
Building and Civil Works
v
Plant and Machinery
v
Utility Installations
v
Computers
v
Furniture
v
Vehicles
v
Other Equipment
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 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.55.76 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.70.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.