MIRA
INFORM REPORT
|
Report Date : |
19.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SRI AUROBINDO PACKAGERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
163/A and 1B Girugambakkammangadu, Chennai – 602101, Tamilnadu |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
27.01.1999 |
|
|
|
|
Com. Reg. No.: |
18-041779 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74950TN1999PTC041779 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES06400C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Flexible Packaging |
|
|
|
|
No. of Employees
: |
58 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 64000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a well established company having satisfactory track. There
appears a slight dip in the profit of the company as compared to previous
year. However, 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Ramaswamy Nadar Arivalagan |
|
Designation : |
Director |
|
Contact No.: |
91-9444028919 |
|
Date : |
15.06.2012 |
LOCATIONS
|
Registered Office : |
163/A and 1B Girugambakkammangadu, Chennai – 602101, Tamilnadu, India |
|
Tel. No.: |
91-44-23821569 |
|
Mobile No.: |
91-9444028919 (Mr. Ramaswamy Nadar Arivalagan) |
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E-Mail : |
|
|
Website : |
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Location : |
Owned |
|
|
|
|
Factory : |
No.2/183C, Kundrathur Road, Valliammal Nagar, Kovur, Chennai – 602101,
Tamilnadu, India |
DIRECTORS
As on 27.09.2011
|
Name : |
Mr. Raghavan Ramesh |
|
Designation : |
Director |
|
Address : |
P No.5, No.3/1044, Raniji Nagar, Madhanthapuram, Porur, Chennai –
600116, Tamilnadu, India |
|
Date of Birth/Age : |
08.05.1973 |
|
Date of Appointment : |
20.12.1999 |
|
DIN No.: |
00806444 |
|
|
|
|
Name : |
Mr. Ramaswamy Nadar Arivalagan |
|
Designation : |
Director |
|
Address : |
No.35, Bharathy Nagar, Porur, Chennai – 600116, Tamilnadu, India |
|
Date of Birth/Age : |
03.07.1968 |
|
Date of Appointment : |
27.01.1999 |
|
DIN No.: |
01243829 |
|
|
|
|
Name : |
Mr. Thangaraj Parthasarathy |
|
Designation : |
Director |
|
Address : |
No.9, V. O. C. Salai, Ramya Nagar, Madhanthapuram, Porur, Chennai – 600116, Tamilnadu, India |
|
Date of Birth/Age : |
15.03.1970 |
|
Date of Appointment : |
27.01.1999 |
|
DIN No.: |
01255052 |
|
|
|
|
Name : |
Dhanlatchoumy Kessavalou |
|
Designation : |
Director |
|
Address : |
No.35, Vannia Perumal, Koil Street, Mudaliarpet, Pondichrry – 605004,
Tamilnadu, India |
|
Date of Birth/Age : |
12.04.1940 |
|
Date of Appointment : |
20.12.1999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ramaswamy Nadar Arivalagan |
|
3250 |
|
Dhanlatchoumy Kessavalou |
|
3250 |
|
Thangaraj Parthasarathy |
|
3250 |
|
Raghavan Ramesh |
|
3250 |
|
Total |
|
13000 |
As on 27.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Flexible Packaging |
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Exports : |
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|
Products : |
·
Flexible Packaging |
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Countries : |
·
African Countries |
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Terms : |
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Selling : |
Cash and Credit |
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|
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Jindal |
|
|
|
|
Customers : |
Wholesalers and Retailers ·
M.R.F. Tyres |
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|
|
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No. of Employees : |
58 (Approximately) (In Office + In Factory) |
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Bankers : |
State Bank of India, Chennai, Tamilnadu, India |
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|
|
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Facilities : |
Cash Credit: Rs.25.000
Millions (From State Bank of India) Term Loan: Rs.7.000
Millions (From State Bank of
India) |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Bhaskar and Company Chartered Accountants |
|
Address : |
F 37-38,3rd Floor, Second Avenue, Anna Nagar East, Chennai – 600102,
Tamil Nadu, India |
|
PAN.: |
AAJPB4512H |
CAPITAL STRUCTURE
As on 27.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13000 |
Equity Shares |
Rs.10/- each |
Rs.1.300
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 |
1.300 |
1.300 |
1.300 |
|
|
2] Share Application Money |
0.050 |
0.050 |
0.050 |
|
|
3] Reserves & Surplus |
14.584 |
13.352 |
12.243 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.934 |
14.702 |
13.593 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
32.059 |
25.125 |
21.660 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
32.059 |
25.125 |
21.660 |
|
|
DEFERRED TAX LIABILITIES |
0.407 |
0.407 |
0.407 |
|
|
|
|
|
|
|
|
TOTAL |
48.400 |
40.234 |
35.660 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.616 |
13.766 |
8.070 |
|
|
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 |
21.761
|
18.436 |
12.109 |
|
|
Sundry Debtors |
32.460
|
22.870 |
15.471 |
|
|
Cash & Bank Balances |
0.069
|
0.293 |
0.118 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.929
|
5.259 |
9.152 |
|
Total
Current Assets |
61.219
|
46.858 |
36.850 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
2.198
|
1.743 |
1.339 |
|
Total
Current Liabilities |
30.437
|
20.392 |
9.262 |
|
|
Net Current Assets |
30.782
|
26.466 |
27.588 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.002 |
0.002 |
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
48.400 |
40.234 |
35.660 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
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|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.166 |
3.120 |
2.788 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.994 |
1.562 |
0.967 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.172 |
1.558 |
1.821 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.401 |
0.449 |
0.660 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.771 |
1.109 |
1.161 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
59.31 |
-- |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
165.300 |
The above information has been parted by Mr. Ramaswamy Nadar Arivalagan.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.49
|
2.57 |
4.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.11 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.92
|
3.10 |
2.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
2.30 |
3.98 |
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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last one years |
No |
|
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 |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
PERFORMANCE:
The Company’s operations have resulted in a Profit of Rs.3.166 Millions before Interest Depreciation and tax and has resulted in Profit of Rs. 0.771 Million after providing deferred taxation
TRADE REFERENCES:
· Jindal
· M.R.F. Tyres
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U74950TN1999PTC041779 |
|
Name of the company |
SRI AUROBINDO PACKAGERS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
163/A and 1B Girugambakkammangadu,
Chennai – 602101, Tamilnadu, India E-mail : rbancocas@yahoo.co.in
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
80026181 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of charge holder |
State Bank of India, Rasmecce, Puducherry – 605011, India E-mail : rajalakshmia.r@sbi.co.in
|
|
Nature of instrument creating charge |
1. Letter of arrangement - SME 1 2. Supplementary agreement of loan cum hypothecation - SME 4 3. Guarantee agreement - SME 3 All dated 16.04.2010 |
|
Date of instrument Creating the charge |
16.04.2010 |
|
Amount secured by the charge |
Rs.33.400 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Cash Credit 12.75% Term Loan 13.25% Terms of Repayment Term Loan - 60 Monthly Installments Cash Credit - 12 Months Margin 25% on stocks and receivables upto 90 days Extent and Operation of the charge The charge on the hypothecated assets of the company shall continue to
be held as security for the due repayment of the present enhanced credit
limit of Rs. 33.400 Millions together with interest, costs, charges and other
expenses payable by the company to the bank as recorded in the books of
accounts of the bank. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of entire goods, movables and other assets present and
future including documents of title to goods, book debts, outstanding monies,
receivable of the company both present and future |
|
Date of instrument modifying the charge |
20.10.2008 |
|
Particulars of the present modification |
The limits have been revised Rs. 33.400 Millions. Enhancement of cash credit limit from Rs.20.000 Millions to Rs.25.000
Millions and sanction of fresh term loan of Rs.6.000 Millions. Existing charge to be extended to the above limits. |
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.55.60 |
|
|
1 |
Rs.87.34 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
50 |
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.