MIRA
INFORM REPORT
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Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
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Name : |
CLASSIC BOTTLE CAPS PRIVATE LIMITED |
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Registered
Office : |
E-14/B-1 Extension, Mohan Co-operative Industrial Estate, New
Delhi-110044 |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.04.2000 |
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Com. Reg. No.: |
55-105213 |
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Capital
Investment / Paid-up Capital : |
Rs.20.250
Millions |
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CIN No.: [Company Identification
No.] |
U25209DL2000PTC105213 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELC05956G DELC05148D |
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PAN No.: [Permanent Account No.] |
AABCC3068J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Aluminium Closures, PVC Shrink Capsules
and Flexible Packaging Products. |
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No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 700000 |
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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. 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
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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 |
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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 PARTED BY
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Name : |
Mr. Rawath |
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Designation : |
Finance Manager |
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Contact No.: |
91-11-26940397 |
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Date : |
17.03.2012 |
LOCATIONS
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Registered Office : |
E-14/B-1 Extension, Mohan Co-operative Industrial Estate, New Delhi-
110044, India |
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Tel. No.: |
91-11-30880868/ 26940397/ 26940161/ 51677353 |
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Fax No.: |
91-11-51677353 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1 : |
I/39, DLF Industrial Area, Faridabad-121003, Haryana, India |
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Factory 2 : |
14/4, Mathura Road, Faridabad-121003, Haryana, India |
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Factory 3 : |
Village Agwanpur, Near Firozpur, Palwal-121102, Haryana, India |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Sanjeev Seth |
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Designation : |
Director |
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Address : |
J-34, Lajpat Nagar, III, New Delhi-110024, India |
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Date of Birth/Age : |
07.09.1959 |
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Date of Appointment : |
13.04.2000 |
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Din No.: |
00222929 |
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Other Directorship:
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Name : |
Mrs. Asharani Motwani |
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Designation : |
Director |
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Address : |
5/35, Old Rajinder Nagar, New Delhi-110060, India |
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Date of Birth/Age : |
18.11.1954 |
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Date of Appointment : |
13.04.2000 |
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Din No.: |
00223053 |
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KEY EXECUTIVES
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Name : |
Mr. Rawath |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Sanjeev Seth |
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823500 |
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Asharani Motwani |
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732000 |
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A.K. Motwani HUF |
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45000 |
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Ambika Seth |
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166479 |
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S. Seth HUF |
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67500 |
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Baba Balaknath Agency Private Limited, India |
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12300 |
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Keshav Tradex Private Limited, India |
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8000 |
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KPR Exim Private Limited, India |
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9400 |
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Rishikesh Trade Exim Private Limited, India |
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14700 |
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Inderjeet Kaur |
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4500 |
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Prabhjot Aneja |
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6300 |
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Pankaj Jaiswal |
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3600 |
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Pratima Kapoor |
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6300 |
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Rajeshwar Prashad |
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3600 |
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Savita Kalra |
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3600 |
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Sanjay Sharma |
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6300 |
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Vikas Jain |
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6300 |
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Vikas Kapoor |
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6300 |
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Yashwant Rawat |
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6300 |
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Supar Printer |
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9000 |
AS ON 20.12.2011
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Names of Allottees |
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No. of Shares |
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Shiv Shanker Seth |
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110000 |
AS ON 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
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5.19 |
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Directors
or relatives of directors |
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90.59 |
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Other
top fifty shareholders |
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4.22 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Aluminium Closures, PVC Shrink Capsules
and Flexible Packaging Products. |
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Exports : |
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Products : |
· Aluminium Closures PVC Shrink Capsules Flexible Packaging Products |
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Countries : |
· Sri Lanka Morasia |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
· Hindalco Manish Impex |
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Customers : |
Wholesalers and Retailers · Dabur India Limited Hamdard Wake Laboratories Blue Crass Laboratories limited |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
·
Union Bank of India, SME Okhla, 173-174, DSIDC Sheds, Okhla Industrial Area, Phase I, New
Delhi-110020, India ·
Dhanlaxmi Bank Limited ·
HDFC Bank Limited ·
The Federal Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
·
Kotak Mahindra Prime Limited ·
Mahindra and Mahindra Financial Services |
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Auditors : |
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Name : |
Sachin Arora and Company Chartered Accountants |
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Address : |
28-A, Nehru Gali, Sant Nagar Burari, New Delhi-110084, India |
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Mobile No.: |
91-9811176380 |
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E-Mail : |
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Pan No.: |
AGQPA9247H |
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Subsidiaries/Associates: |
31.03.2010 ·
Classic Bottle Caps (Australia) Pty Limited ·
Classic Enterprises ·
Intact Plastics and Packing |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
2134988 |
Equity Shares |
Rs.10/- each |
Rs.21.350
Millions |
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AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2024988 |
Equity Shares |
Rs.10/- each |
Rs.20.250 Millions
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
20.250 |
20.000 |
19.200 |
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2] Share Application Money |
1.623 |
1.623 |
11.625 |
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3] Reserves & Surplus |
153.607 |
105.900 |
43.627 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
175.480 |
127.523 |
74.452 |
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LOAN FUNDS |
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1] Secured Loans |
126.807 |
159.035 |
113.171 |
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2] Unsecured Loans |
32.307 |
45.482 |
42.450 |
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TOTAL BORROWING |
159.114 |
204.517 |
155.621 |
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DEFERRED TAX LIABILITIES |
10.322 |
6.374 |
4.345 |
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TOTAL |
344.916 |
338.414 |
234.418 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
167.552 |
144.930 |
50.359 |
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Capital work-in-progress |
0.000 |
0.000 |
56.828 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
128.018
|
115.845 |
70.205 |
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Sundry Debtors |
54.524
|
71.482 |
67.998 |
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Cash & Bank Balances |
13.637
|
14.748 |
10.658 |
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Other Current Assets |
0.151
|
0.151 |
0.126 |
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Loans & Advances |
62.622
|
43.452 |
29.175 |
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Total
Current Assets |
258.952
|
245.678 |
178.162 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
63.055
|
29.232 |
38.730 |
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Other Current Liabilities |
9.916
|
12.710 |
7.564 |
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Provisions |
8.635
|
10.289 |
4.693 |
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Total
Current Liabilities |
81.606
|
52.231 |
50.987 |
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Net Current Assets |
177.346
|
193.447 |
127.175 |
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MISCELLANEOUS EXPENSES |
0.018 |
0.037 |
0.056 |
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TOTAL |
344.916 |
338.414 |
234.418 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
543.740 |
382.418 |
408.401 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
507.837 |
340.842 |
383.903 |
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Advertising Expenses |
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TOTAL |
507.837 |
340.842 |
383.903 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
41.576 |
24.498 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
5.312 |
3.914 |
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PROFIT BEFORE
TAX |
35.903 |
36.264 |
20.584 |
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Less |
TAX |
11.794 |
13.192 |
8.083 |
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PROFIT AFTER TAX
|
24.109 |
23.072 |
12.501 |
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Earnings Per
Share (Rs.) |
12.05 |
-- |
-- |
|
Expected Sales (2011-12): Rs.600.000 Millions
The above information has been parted by Mr. Rawath
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.43
|
6.03 |
3.06 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.42
|
9.28 |
9.00 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.28 |
0.28 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.37
|
2.01 |
2.78 |
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Current Ratio (Current Asset/Current Liability) |
|
3.17
|
4.70 |
3.49 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office of the company has been shifted from J-34, Lajpat Nagar, III, New Delhi-110024, India to the present address w.e.f. 01.02.2011
OPERATING RESULTS:
There has been significant
growth in the all over performance of the company. Not only the gross sales
revenue increased but the percentage of growth in the net profit of the company
has outperformed the growth in the sales of the company. Seeing the orders in
hand, they are very hopeful that the gross revenue and overall profit of the
company will surge in the current year. The silent features of the operating
results are followings:-
·
The turnover of the Company has been increased by
41.24%
·
The Net Profit after tax is increased by 4.49%
·
The reserve and surplus has been increased by
45.05%
FUTURE OUTLOOK:
Barring any unforeseen circumstances, the future of the Company seems
very bright.
TRADE REFERENCE:
· Dabur India Limited
Hamdard
Wake Laboratories
Blue
Crass Laboratories limited
Hindalco
Manish
Impex
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10312481 |
|
Corporate
identity number of the company |
U25209DL2000PTC105213 |
|
Name of the
company |
CLASSIC BOTTLE
CAPS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
E-14/B-1 Extension, Mohan Co-operative Industrial Estate, New Delhi-110044,
India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Union Bank of India, SME Okhla, 173-174, DSIDC Sheds, Okhla Industrial
Area, Phase I, New Delhi-110020, India |
|
Email: |
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|
Nature of
description of the instrument creating or modifying the charge |
1. Equitable
Mortgages Dated25.10.2011 of following properties:- a) Property-1:
I-39, DLF Industrial Area, Phase-I, Village Mevlamharajpur, Tehsil and
District Faridabad, Haryana b) Property-2:
Mustakil No.16 Kila 12/1 (4-4), 19/2 (4-17), 22/1(4-17) and Must No.21 Kila
2/1(4-17), 9/1/2(0-13) Kita 5, situated at Village Agvanpur, Tehsil Palwal,
District Faridabad, Haryana 2. Sanction
Advice Dated 28.09.2011 (Letter No:
SMEO: ADV: 2809: 2011) 3. Board
Resolution Dated27.09.2011 4. Original
Form-8 Dated21.10.2011 |
|
Date of
instrument Creating the charge |
25.10.2011 |
|
Amount secured by
the charge |
Rs.183.800
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest As per Sanction
Advice Dated28.09.2011 Terms of
Repayment As per Sanction
Advice Dated28.09.2011 Margin As per Sanction
Advice Dated28.09.2011 Extent and
Operation of the charge As per Sanction
Advice Dated28.09.2011 Others As per Sanction
Advice Dated28.09.2011 |
|
Short particulars
of the property charged |
Property-1: I-39,
DLF Industrial Area, Phase-I, Village Mevlamharajpur, Tehsil and District
Faridabad, Haryana (Area measuring 1362 Sq. Yards) Property-2: Must
No.16Kila 12/1(4-4), 19/2(4-17), 22/1(4-17) and Must No.21Kila 2/1(4-17),
9/1/2(0-13) Kita 5, Village Agvanpur,T ehsil Palwal, District Faridabad,
Haryana (Measuring 19 Kanal and 8 Marla) Rest as per
Sanction Advice Dated28.09.2011 |
|
Particulars of
the present modification |
Keeping the
Extent, Original terms and conditions of the Charge created Dated28.09.2011 for
Rs.18.38Cr the same, is being modified in addition by deposit of Title Deeds
by creating Equitable Mortgages Dated25.10.2011 on the properties:- a) I-39, DLF
Industrial Area, Phase-I, Village Mevlamharajpur, District Faridabad, Haryana b) Must No.16 Kila
12/1 (4-4), 19/2 (4-17), 22/1(4-17) and Must No.21 Kila 2/1(4-17),
9/1/2(0-13) Kita 5, situated at Village Agvanpur, Tehsil Palwal, District
Faridabad, Haryana |
FIXED ASSETS:
·
Land and Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Computer
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.50.12 |
|
|
1 |
Rs.79.37 |
|
Euro |
1 |
Rs.66.00 |
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.