|
Report Date : |
09.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNIVERSAL POLYBAGS INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Old No.150-C, New No.7/152, |
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|
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
27.08.2003 |
|
|
|
|
Com. Reg. No.: |
18-051454 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.550
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25201TN2003PTC051454 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRIU00180F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter Poly Bags, Carry Bags, Plastic Bags, Milk Cover. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 61000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow but correct |
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|
|
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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 slow but correct. The company can
be considered for small to mediocre business dealings at usual trade terms
and conditions. Profit and loss
account of the company is not available. |
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 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
Old No.150-C, New No.7/152, |
|
Tel. No.: |
91-4562-267923/ 245632 |
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Fax No.: |
91-4562-268330 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Mathiprakash Thomas |
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Designation : |
Managing Director |
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Address : |
4, |
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Date of Birth/Age : |
15.04.1960 |
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Date of Appointment : |
30.06.2009 |
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DIN No.: |
00611225 |
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Other Directorship :
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Name : |
Mr. Mareswaran Ponnaiah |
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Designation : |
Additional Director |
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Address : |
CSI Compound, |
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Date of Birth/Age : |
10.05.1963 |
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Date of Appointment : |
25.03.2009 |
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DIN No.: |
02583778 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
M. Seetha Lakshmi |
|
3675 |
|
M. Sathana |
|
3675 |
|
T. Mathi Prakash |
|
75 |
|
T. Muralitharan |
|
75 |
|
P. Mareeswaran |
|
50 |
|
Total |
|
7550 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter Poly Bags, Carry Bags, Plastic Bags, Milk Cover. |
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|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
v State Bank of v Axis Bank
Limited v City Union Bank v Indian Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
V. Rajasekaran Chartered Accountant |
|
Address : |
29A, |
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Income-tax
PAN of auditor or auditor's firm : |
AAPPR9842N |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.1000/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7550 |
Equity Shares |
Rs.1000/- each |
Rs.7.550
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.550 |
7.550 |
7.550 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.819 |
6.404 |
5.151 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.369 |
13.954 |
12.701 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13.193 |
13.864 |
8.777 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
13.193 |
13.864 |
8.777 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28.562 |
27.818 |
21.478 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.393 |
10.849 |
9.074 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.375
|
10.865 |
34.588 |
|
|
Sundry Debtors |
40.149
|
12.341 |
27.734 |
|
|
Cash & Bank Balances |
1.644
|
2.841 |
1.554 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.359
|
0.395 |
0.889 |
|
Total
Current Assets |
45.527
|
26.442 |
64.765 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
27.923
|
9.273 |
34.280 |
|
|
Other Current Liabilities |
0.035
|
0.100 |
17.921 |
|
|
Provisions |
0.400
|
0.100 |
0.160 |
|
Total
Current Liabilities |
28.358
|
9.473 |
52.361 |
|
|
Net Current Assets |
17.169
|
16.969 |
12.404 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28.562 |
27.818 |
21.478 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.70
|
1.67 |
4.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
2.79 |
1.24 |
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 |
No |
|
10) Designation
of contact person |
No |
|
11) Turnover of
firm for last three years |
No |
|
12) Profitability
for last three years |
No |
|
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 |
No |
|
30) Major
Shareholders, if available |
Yes |
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U25201TN2003PTC051454 |
|
Name of the
company |
UNIVERSAL POLYBAGS INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Old No.150-C,
New No.7/152, E-Mail: global@globalpolybags.com |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90289145 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
State Bank of E-Mail: rkblal1301@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
1. Letter of
Arrangement - SME-1 2. Supplemental
Agreement of Loan cum Hypothecation-SME-4 |
|
Date of instrument
Creating the charge |
15.04.2011 |
|
Amount secured by
the charge |
Rs.27.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Margin: 1. Raw
Materials/Stock in process/FG - 25% 2. Receivables - 40% 3. LC - 20% Extent and
Operation of the charge: The Charge
operates as Exclusive First Charge in favour of the Bank as Security for an
Overall Limit of Rs.27.000 millions, together with interest, cost, charges
and other expenses which may accrue and / or be debited to the Company's
accounts from time to time. Others: Cover period for
Receivables - 60 days |
|
Short particulars
of the property charged |
Hypothecation of
stocks, Book debts and other Movable Assets |
|
Date of latest modification
prior to the present modification |
16.03.2009 |
|
Particulars of
the present modification |
The Overall Limit
is increased from Rs.21.500 millions to Rs.27.000 millions. Extension of
Hypothecation as Exclusive First Charge of Company's all present and future
Stocks Book Debts and other movable
assets, as security for the enhanced Overall Limit of Rs.27.000 millions,
together with interest, costs, charges and other expenses that may accrue
and/or be debited to the Company's
accounts from time to time. All other
terms and conditions remain unaltered. |
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.52.85 |
|
|
1 |
Rs.85.44 |
|
Euro |
1 |
Rs.68.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
42 |
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.