MIRA
INFORM REPORT
|
Report Date : |
26.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRADEEP LAMINATORS PRIVATE LIMITED |
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Registered
Office : |
Gat No.392, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
20.11.1997 |
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Com. Reg. No.: |
111990 |
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Capital
Investment / Paid-up Capital : |
Rs.16.917 Millions |
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CIN No.: [Company Identification
No.] |
U25209MH1997PTC111990 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Flexible Packaging Materials. |
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No. of Employees
: |
72 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 220000 |
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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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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. Rajesh Chaudhry |
|
Designation : |
General Manager Development |
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Mobile No.: |
91-9860094540 |
|
Date : |
24.05.2012 |
LOCATIONS
|
Registered Office/Factory : |
Gat No.392, |
|
Tel. No.: |
91-2135-259046/259167/259168/678900-909 |
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Mobile No.: |
91-9860094537 (Mr. GVN Murthy) |
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Fax No.: |
91-2135-259299 / 678910 |
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E-Mail : |
ravindra.mathuria@pradeeplaminators.com pradeeplaminators@pradeeplaminators.com
rajesh.chaudhary@pradeeplaminators.com
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Website : |
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Area : |
2 Acres |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rajkumar Devichand Agarwal |
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Designation : |
Managing Director |
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Address : |
Janki Niwas, Sector No.25, Plot No.622, Nigdi Pradhikaran, Pune –
411044, |
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Date of Birth : |
01.06.1951 |
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Date of Appointment : |
20.11.1997 |
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DIN No.: |
00321863 |
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|
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Name : |
Mr. Vinod Rajkumar Agarwal |
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Designation : |
Whole Time Director |
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Address : |
622/25, PCNT, Nigdi, Pune – 411044, |
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Date of Birth : |
10.12.1971 |
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Date of Appointment : |
20.11.1997 |
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DIN No.: |
00422000 |
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Name : |
Mr. Sachin Rajkumar Agarwal |
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Designation : |
Whole Time Director |
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Address : |
Janki Niwas, Sector No.25, Plot No.622, Nigdi Pradhikaran, Pune –
411044, |
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Date of Birth : |
24.02.1978 |
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Date of Appointment : |
01.10.2004 |
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DIN No.: |
00321909 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Chaudhry |
|
Designation : |
General Manager Development |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rajkumar Devichand Agarwal |
|
99169 |
|
Vinod Rajkumar Agarwal |
|
10000 |
|
Nitin Rajkumar Agarwal |
|
15000 |
|
Sachin Rajkumar Agarwal |
|
15000 |
|
Sandeep Rajkumar Agarwal |
|
15000 |
|
Surendra Rajkumar Agarwal |
|
15000 |
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Total |
|
169169 |
AS ON 30.09.2011
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 Materials. |
GENERAL INFORMATION
|
No. of Employees
: |
72 (Approximately) |
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Bankers : |
·
The Cosmos Co-operative Bank Limited, Chinchwad Branch,
269/270, Shaniwar Peth, Pune – 411030, Maharashtra, India ·
HDFC Bank ·
IDBI Bank ·
Axis Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
L B Laddha and Company Chartered Accountants |
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Address : |
Flat no.7 and 8, 2nd Floor, |
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Tel No.: |
91-20-27425966/27420547 |
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PAN No.: |
AABFL8847M |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
90000 |
Equity Shares |
Rs.100/-
each |
Rs.9.000
Millions |
|
79169 |
Equity Shares for Consideration other than cash |
Rs.100/-
each |
Rs.7.917
Millions |
|
|
Total |
|
Rs.16.917 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
16.917 |
16.917 |
9.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
39.133 |
27.151 |
28.480 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
56.050 |
44.068 |
37.480 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
115.419 |
103.097 |
55.548 |
|
|
2] Unsecured Loans |
0.439 |
22.097 |
23.363 |
|
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TOTAL BORROWING |
115.858 |
125.194 |
78.911 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
171.908 |
169.262 |
116.391 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
61.703 |
76.356 |
49.327 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.550 |
0.550 |
0.550 |
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DEFERREX TAX ASSETS |
4.335 |
2.111 |
1.002 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
23.296
|
16.770
|
9.931
|
|
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Sundry Debtors |
100.889
|
70.102
|
57.450
|
|
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Cash & Bank Balances |
1.681
|
1.398
|
1.672
|
|
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Other Current Assets |
3.977
|
8.492
|
3.700
|
|
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Loans & Advances |
5.050
|
10.922
|
14.619
|
|
Total
Current Assets |
134.893
|
107.684
|
87.374
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
21.142
|
11.876
|
18.093
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000
|
|
|
Provisions |
8.431
|
5.563
|
3.769
|
|
Total
Current Liabilities |
29.573
|
17.439
|
21.862
|
|
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Net Current Assets |
105.320
|
90.245
|
65.512
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
171.908 |
169.262 |
116.391 |
|
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 (A) |
515.229 |
358.895 |
298.027 |
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Less |
EXPENSES |
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|
Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
502.264 |
361.167 |
292.888 |
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PROFIT BEFORE
TAX |
12.965 |
(2.272) |
5.139 |
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Less |
TAX |
0.983 |
(0.943) |
0.337 |
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PROFIT AFTER TAX
|
11.982 |
(1.329) |
4.802 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
2.924 |
5.736 |
4.181 |
|
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TOTAL EARNINGS |
2.924 |
5.736 |
4.181 |
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|
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|
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|
Earnings Per
Share (Rs.) |
70.83 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.33 |
(0.37) |
1.45 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.59 |
(1.23) |
3.76 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
(0.05) |
0.14 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.59
|
3.24
|
2.68
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
4.56
|
6.17
|
3.99
|
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 |
Yes |
|
5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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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 |
-- |
|
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 |
Financial Results:
The turnover of the
company has increased by 43.55% as against loss in the previous year. The net
profit after tax stood at Rs. 11.982 Millions as against loss of Rs. 2.272
Millions in the previous year. The rise in turnover and profit is mainly on
account of addition of new customers in the company’s fleet.
During the year
the Company has started new activity of Hit Transparent Printing which resulted
additions of new customers.
The Directors are
optimistic that the company would post better performance in the current year.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U25209MH1997PTC111990 |
|
Name of the company |
PRADEEP
LAMINATORS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Gat No 392 E-mail : pradeeplaminators@vsnl.net |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable Property |
|
Particular of charge holder |
The Cosmos
Co-operative Bank Limited, Chinchwad Branch, 269/270, Shaniwar Peth, Pune –
411030, E-mail : mandevazecs@vsnl.net |
|
Nature of instrument creating charge |
Composite Deed of Further Charge And
Hypothecation Dated 30th November 2010 |
|
Date of instrument Creating the charge |
30/11/2010 |
|
Amount secured by the charge |
Rs.220.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Cash Credit: 12% P.A. Presently Applicable Term Loans: 12.5% P.A. Presently
Applicable Letter of Credit: Commission As Per LC
Terms Terms of Repayment Cash Credit: Repayable On Demand / Review
Within 12 Months Term Loans: 84 Months + 12 Months
Moratorium Period Letter Of Credit: As Per Lc Terms / Review
Within 12 Months Margin Cash Credit and Term Loan: 25% In Bank's
Favour Letter Of Credit: 15% In Bank's Favour Extent and Operation of the charge The Charge Will Continue Till Full
Repayment Of The Facilities Enjoyed By Sister Concern Viz. Pradeep Polyflex
Private Limited Others Facilities Enjoyed By Pradeep Polyflex
Private Limited Cash Credit: Rs. 20.000 Millions Term Loan (Land and Building): Rs. 13.000
Millions Term Loan (Machinery): Rs. 117.000
Millions Letter Of Credit(One Time): Rs. 60.000
Millions Letter Of Credit: Rs. 10.000 Millions |
|
Short particulars of the property charged |
Gat No. 392/1 Talegaon-Chakan Road,
Mhalunge (Ingle) Tal. Khed, Dist. Pune 410401 And As More Particularly
Described In Schedule IV Of The Composite Deed |
Fixed Assets:
·
Land and Machinery
·
Factory Building
·
Furniture
·
Air Conditioner
·
Machinery Vehicle
·
Computer and Software
·
Motor Car
·
Xerox Machine
Website Details:
Profile
Subject is a prominent organisation engaged in
manufacturing of flexible packaging materials for over three decades. Established
by Mr Rajkumar Agarwal, a visionary and the driving force, the organization has
grown rapidly. His determination and devotion has laid strong foundation to the
Company. From a modest beginning, keeping pace with changing packaging
scenario, the Company went on adding infrastructure to meet challenges,
culminating with the present State of the Art set up. Packaging solution is one
of the most important factors behind any corporate success. The Company has
already played an important role in its sphere of activity to succeed as one of
the leading players.In todays competitive market quality consistency, price and
timely supply plays a major role for any successful business.With the blend of
updated machinery, talented and experienced workforce and proactive management,
the Company has been able to produce excellent quality packaging flexibles to
suit product needs.
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.56.29 |
|
|
1 |
Rs.88.26 |
|
Euro |
1 |
Rs.70.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
BSN |
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.