MIRA
INFORM REPORT
|
Report Date : |
28.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
P G FOILS LIMITED |
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Registered Office : |
6, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
07.11.1979 |
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Com. Reg. No.: |
04-008050 |
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Capital Investment / Paid-up Capital : |
Rs.85.861 millions |
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CIN No.: [Company
Identification No.] |
L27203GJ1979PLC008050 |
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
JDHP02114A |
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PAN No.: [Permanent
Account No.] |
AAACP9274C |
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Legal Form : |
Public Limited Liability Company. The company’s shares are listed on the stock exchanges. |
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Line of Business : |
Manufacturer and Exporter of Aluminium Foil Products |
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No. of Employees : |
400 (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 3000000 |
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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 (30.09.2011) |
Current Rating (31.12.2011) |
|
|
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. R.M. Jain |
|
Designation : |
Finance Head |
|
Contact No.: |
91-9314047871 |
|
Date : |
24.05.2012 |
LOCATIONS
|
Registered / Sales Office: |
6, |
|
Tel. No.: |
91-79-26587606, 26587205 |
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Fax No.: |
91-79-26584187 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq. ft |
|
Location : |
Owned |
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|
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Head Office / Factory: |
P.O., Pipalia Kalan, 306307, District. Pali, Rajasthan |
|
Tel. No.: |
91-2937-287151/56/55 |
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Fax No.: |
91-2937-287150 |
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E-Mail : |
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Sales Office : |
Located at:
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DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Pankaj P. Shah |
|
Designation : |
Managing Director |
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|
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|
Name : |
Mr. Abhay P. Shah |
|
Designation : |
Whole time Director |
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|
Name : |
Mr. Vimal Dhadda |
|
Designation : |
Director |
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|
Name : |
Mr. Hemant K. Nema |
|
Designation : |
Director |
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|
Name : |
Mr. Sahil P. Shah |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Udhan Kumar Chordia |
|
Designation : |
Director |
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Senior Executives : |
Mr. R. M. Jain – Executive Director (Finance) Mr. R Yadav – Executive Director (Operation) Mr. M R Jain – Additional Director(Operation) Mr. Ajay Malhotra – Director (Marketing) |
KEY EXECUTIVES
|
Name : |
Mr. Ramdev Singh Jetmal |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2012
|
Names of Shareholders |
No. of
Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
|
|
|
765,598 |
9.44 |
|
|
3,407,797 |
42.02 |
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|
4,173,395 |
51.46 |
|
|
|
|
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Total shareholding of Promoter
and Promoter Group (A) |
4,173,395 |
51.46 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
1,408,819 |
17.37 |
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|
|
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|
1,425,751 |
17.58 |
|
|
551,867 |
6.80 |
|
|
550,168 |
6.78 |
|
|
548,916 |
6.77 |
|
|
1,252 |
0.02 |
|
|
3,936,605 |
48.54 |
|
Total Public shareholding (B) |
3,936,605 |
48.54 |
|
Total (A)+(B) |
8,110,000 |
100.00 |
|
(C) Shares held by Custodians and
against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
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|
- |
- |
|
Total (A)+(B)+(C) |
8,110,000 |
- |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Aluminium Foil Products |
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Products : |
Item Code No 73.07 39.20 48.71 |
Product
Description Aluminium Foil and its laminates Laminated Flexible Packaging with Plastic Laminated Flexible Packaging with Papers |
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Exports : |
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Products : |
Aluminium Foil Products |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
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PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Aluminium Foil |
|
MT |
10500 |
5363.660* |
|
Flexible Packaging |
|
MT |
1200 |
195.889 |
Note:
*Including 55.806 MT (previous year 167.848
MT) productions for the conversion of materials.
GENERAL INFORMATION
|
Suppliers : |
Avanties Pharma Limited |
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Customers : |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
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Facilities : |
*First exclusive
charges on land, building and Plant and Machinery on Suzlon Wind Mill Installed
at Jaisalmer and Aluminum Foil Plant imported from **Overdraft of
Rs.10.292 Millions against pledge of FDRs of Rs. 18.029 millions and working
capital overdraft of Rs.451.496 millions Secured against mortgage of entire
Land and Building, Structure and Plant and Machinery present and future on
first charge basis and hypothecation on entire current and movable assets and
personal guarantees of Two Directors,
family members of Directors and Associates
concerns. |
|
Banking
Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
H M Singhvi and Company Chartered Accountants |
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Address : |
Johari Bazar, Jaipur, |
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Sister Concern : |
v
Prem Cables Private Limited v
Miracle Carriers and Trading Company v
Prem Nagar Industrial Estates Private Limited v
MEC International Private Limited v
Foils India Laminates Private Limited v
Pipalia Cables and Wires Private Limited v
Miracle Foils Private Limited v
Tirumala Irons Private Limited v
Pipalia Engineering Works Private Limited |
CAPITAL STRUCTURE
As On 31.03.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
Issued, Subscribed:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8121600 |
Equity Shares |
Rs.10/- each |
Rs.81.216 millions |
Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8110000 |
Equity Shares |
Rs.10/- each |
Rs. 81.100 millions |
|
|
Add: Shares Forfeited |
Rs.10/- each |
Rs. 0.061 millions |
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Add: Shares Warrant Forfeiture Account |
Rs.10/- each |
Rs. 4.700 millions |
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Total |
|
Rs. 85.861 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 |
85.861 |
81.161 |
81.161 |
|
|
2] Share Application Money |
0.000 |
4.700 |
4.700 |
|
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3] Reserves & Surplus |
687.152 |
603.447 |
575.136 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
773.013 |
689.308 |
660.997 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
560.373 |
382.650 |
450.530 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
42.500 |
|
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TOTAL BORROWING |
560.373 |
382.650 |
493.030 |
|
|
DEFERRED TAX LIABILITIES |
5.376 |
9.798 |
0.000 |
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|
|
|
|
|
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TOTAL |
1338.762 |
1081.756 |
1154.027 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
249.849 |
194.688 |
71.383 |
|
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Capital work-in-progress |
10.066 |
0.000 |
136.075 |
|
|
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INVESTMENT |
227.477 |
318.872 |
266.331 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
7.496 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
285.072
|
160.740
|
180.068
|
|
|
Sundry Debtors |
307.965
|
344.713
|
368.497
|
|
|
Cash & Bank Balances |
374.513
|
69.624
|
161.140
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.763
|
|
|
Loans & Advances |
120.048
|
87.362
|
112.638
|
|
Total
Current Assets |
1087.598
|
662.439
|
823.106
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
146.229
|
81.567
|
149.141 |
|
|
Other Current Liabilities |
70.064
|
11.745
|
0.000 |
|
|
Provisions |
19.964
|
0.975
|
1.282
|
|
Total
Current Liabilities |
236.257
|
94.287
|
150.423
|
|
|
Net Current Assets |
851.341
|
568.152
|
672.683
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.029 |
0.044 |
0.059 |
|
|
|
|
|
|
|
|
TOTAL |
1338.762 |
1081.756 |
1154.027 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1403.373 |
1422.742 |
1678.041 |
|
|
|
Other Income |
74.789 |
(19.188) |
36.939 |
|
|
|
TOTAL (A) |
1478.162 |
1403.554 |
1714.980 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of raw materials, stores and manufacturing expenses |
1181.594 |
1155.141 |
1495.313 |
|
|
|
Payment to and provision for employees |
73.298 |
68.319 |
34.808 |
|
|
|
Administrative and other expenses |
13.612 |
15.114 |
10.441 |
|
|
|
Selling and distribution expenses |
12.690 |
13.719 |
6.862 |
|
|
|
Other expenses |
30.251 |
54.451 |
137.627 |
|
|
|
Prior period adjustment |
0.457 |
0.652 |
0.577 |
|
|
|
Provision of excise duty written back |
(0.895) |
(0.877) |
(1.533) |
|
|
|
Income related to previous year |
(0.334) |
0.000 |
(0.037) |
|
|
|
Excess provision of income tax/wealth tax written back |
0.000 |
(0.008) |
(0.635) |
|
|
|
Reserve for doubtful advance written back |
((0.325) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
1310.348 |
1306.511 |
1683.423 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
167.814 |
97.043 |
31.557 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
30.181 |
22.625 |
42.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
137.633 |
74.418 |
(11.045) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.227 |
20.924 |
11.195 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
104.406 |
53.494 |
(22.241) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
10.629 |
24.875 |
(7.783) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
93.777 |
28.619 |
(14.458) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
297.116 |
268.497 |
282.955 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
390.893 |
297.116 |
268.497 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
105.382 |
87.573 |
55.407 |
|
|
TOTAL EARNINGS |
105.382 |
87.573 |
55.407 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
105.309 |
264.484 |
|
|
|
|
Stores & Spares |
52.183 |
43.876 |
NA |
|
|
|
Capital Goods |
0.000 |
1.101 |
|
|
|
TOTAL IMPORTS |
157.492 |
309.461 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.56 |
3.53 |
(1.78) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1820.000 |
Expected Sales (2012-2013):
Rs.2000.000 Millions
The above information has been parted by Mr. R.M. Jain
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
31.03.2012 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Audited / UnAudited |
UnAudited |
UnAudited |
UnAudited |
UnAudited |
|
Net Sales |
531.660 |
446.240 |
462.740 |
466.200 |
|
Total Expenditure |
469.190 |
375.180 |
450.230 |
523.680 |
|
PBIDT (Excl OI) |
62.470 |
71.060 |
12.510 |
(57.480) |
|
Other Income |
14.080 |
12.370 |
12.930 |
50.500 |
|
Operating Profit |
76.550 |
83.430 |
25.440 |
(6.980) |
|
Interest |
8.850 |
13.040 |
6.420 |
4.080 |
|
Exceptional Items |
0.0000 |
0.000 |
0.000 |
(25.230) |
|
PBDT |
67.700 |
70.390 |
19.020 |
(36.290) |
|
Depreciation |
8.930 |
9.920 |
7.420 |
10.620 |
|
Profit Before Tax |
58.770 |
60.470 |
11.590 |
(46.910) |
|
Tax |
5.000 |
15.000 |
5.000 |
1.320 |
|
Profit After Tax |
53.770 |
45.470 |
6.590 |
(48.230) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
2.210 |
|
Net Profit |
53.770 |
45.470 |
6.590 |
(46.020) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.344 |
2.04
|
(0.84)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.44 |
3.76
|
(1.33)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.40 |
6.24
|
(2.49)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.014 |
0.08
|
(0.03)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.03 |
0.69
|
0.97
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
7.03
|
5.47
|
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitutions of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
Yes |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
No |
HISTORY:
Subject,
incorporated on 07.11.79 as a public limited company, has been promoted by Prem
group of industries and Rajasthan Industrial and Investment Corporation (RIICO)
as a joint venture. RIICO contributed a sum of Rs. 1 Million towards the equity
of the company. During 1988 the equity of RIICO has been transferred to the
private promoters under the buy-back arrangement. The Registered office of the
company was in Rajasthan upto 7.8.85 but was shifted to Ahmedabad (
Though the
Certificate of Commencement of Business was received on 6.12.79, the actual
commercial production could commence from Nov. 81, after obtention of the
required license, import of machinery and implementation of the project.
The company is
engaged in the manufacture of foils of various qualities and thickness e.g.
tagger foil, pharma foils, laminated foils, blister foils, paper laminated
board and printed foils. It commenced commercial production in November, 1981
and had accumulated losses to the extent of Rs 32.410 millions by 1986-87.
However in 1987-88 it turned corner, and has been making consistent profits
since then. The company has now not only written off its entire accumulated
losses but has also created substantial reserves.
2005 -PG Foils
awarded ISO 9001:2000 certifications
OPERATIONS:
During the year the company achieved a Gross turnover of Rs.1534.231 Millions as against Rs.1526.342 Millions in the previous year.
Profit before tax was increased to Rs.124.833 Millions from profit of Rs.53.259 Millions of previous year mainly due to higher other income and receipt of 25 Millions Key Man Insurance Maturity Income. During the year company has paid Rs.25.000 Millions towards premium of employer-employee policies on life of employees which has been debited to profit and loss account.
Exports have increased to Rs.105.382 Millions from Rs.87.573 Millions.
Windmill installed at Jaisalmer for captive consumption generated 676558 units during 01.04.2010 to 31.03.2011. Company has installed one new 1.50 MW wind mill at Jaisalmer which has generated 713462 net billed units during the year.
ISO 9001-2000
CERTIFICATION
The company have been awarded ISO 9001:2000 certificate on 12.04.2005 by BVQI. And it has been renewed for 3years valid till 11.04.2011.
PUBLIC DEPOSITS:
The Company has not invited/accepted any deposit from the public within the meaning of the section 58A of the companies Act, 1956 and the rules made there under.
INDUSTRIAL RELATIONS:
The company continues to maintain cordial relation with its Workers, Supervisors and Officers in all divisions to enable it to achieve better performance.
DEMAT TRADING:
As per the directives of The Securities and Exchange Board of India (SEBI), the Company's shares are being compulsorily trade in the dematerialization mode with effect from 2nd of April, 2001. Necessary agreement have been entered by the Company with NSDL, CDSL and with M/s Pinnacle Share Registry Private Limited, Ahmedabad who is registrar for transfer of shares (demat and physical) of the company.
MANAGEMENT DISCUSSION
AND ANALYSIS:
INDUSTRY SCENARIO
The year 2010-2011
was another good year for the domestic economy attaining sustained growth of
8.5%, one of the highest among the world and in particular to foil industries
due to 15.3%growth of Indian pharmaceutical market and new demand of Gutka foil
after ban of Supreme Court on use of ployster packing. Company expect to
continue the more demand of foil in future. Today the usages of aluminum foil
in packaging is growing by leaps and bounds. Where barrier properties and shelf
life are required, aluminum based special packaging products are must. The
company remains focused on selling end-to end packaging solutions and not just
products. Packaging fulfils the needs of the Pharma Industry and consumers on
the three crucial parameters namely presentation, protection and preservation.
According to Mckinsey report the pharmaceutical market in
OPERATIONAL PERFORMANCE
For P C Foils
Limited 2010-2011 has been a good year. The Company has effectively integrated
its Product Mix to maximize the realisation. Turnover and Income established at
Rs.1534.231 Millions and Profit of Rs.124.833 Millions. The company has
utilized full installed capacity of its manufacturing. The sale; of
manufactured product has remained almost same as last year.
FINANCIAL PERFORMANCE
Gross turnover for
the year is Rs.1534.231 Millions against Rs.1526.342 Millions in last year.
Profit for the year is Rs.124.833 Millions compared to profit of Rs.53.259
Millions in last year due to other income. Company contributed a total
Rs.130.859 Millions to the National Exchequer as Excise Duty.
RESOURCES AND LIQUIDITY
Company continues
to maintain its conservative financial profile. Company Banked with IDBI Bank
Limited for their working capital needs. Company has sufficient working capital
limits of Rs.700.000 Millions from IDBI Bank Limited at confessional and
extremely competitive interest rate. Cash Flow for less than 2 years is
adequate to extinguish its entire debts timely. Company made most of local
purchases on cash basis at discounted rates but overseas purchases are on
credit basis and partly cover has been taken against outstanding US dollar
liability.
OPPORTUNITIES AND OUTLOOK
The Opportunities
of growth have gained momentum in last quarter if year due to ban on use of
polyster in Gutka packing by Supreme Court. Most of the Gutka manufacturer
opted aluminum coated paper foil as suitable alternate resulting huge demand of
paper laminated foil and opportunity for improvement of margin. To meet the
increasing demand, the company must gear-up with higher productivity and better
project management expertise to remain as a forerunner in the Industry.
The company has to
continue to be a Cost leader to protect its profit margin and market share in
this highly competitive industry.
Per capita
consumption of Aluminum Foil in there country is low compared to other
developing countries. While the average consumption of Aluminum foil in
development countries is 23 kg per person it is 2.5 Kg in
EXPORT:
The company's contribution to foreign exchange earnings amounted to Rs.105.382 millions during the year and the total foreign exchange utilized by the company amounted to Rs.159.140 millions the details of which are provided in annexure to the director's report. Company is presently exporting App. 360 MT to various countries and further trying to increase export to developed countries.
INTERNAL CONTROL
SYSTEM:
The Company has an adequate system of internal controls implemented by the management towards achieving efficiency in operations, optimum utilization of company's resources and effective monitoring thereof and compliance with applicable laws and regulations.
The Company’s internal audit conducts regular audits to ensure adequacy of internal control systems, adherence to management instructions and compliance with laws and regulations of the country as well as to suggest improvements.
The Audit Committee of the Board of Director also
periodically review plans, internal/external auditor observations and
recommendations, significant risk area assessments and adequacy of internal controls.
TRADE REFERENCE:
- Avanties Pharma Limited
- Hindustan
Alluminium Company Limited
- Micro Ink
FIXED ASSETS:
- Building
- Plant and Machinery
- Furniture and Fixture
- Vehicles
- Office and Computer
- Equipments
AS PER WEB SITE DETAILS:
ABOUT THE COMPANY
A unit for manufacturing AAC/ACSR Conductors used for
overhead transmission of power was installed in the village Pipalia-Kalan in
the year 1962 when it was not even Electrified.This shows the farsightedness
and enterpreneurship of the founder late Shri P.G. Shah, as his aim was to
develop his own village people.
After Installation of the unit Prem Cables Private Limited coinciding with the
Govt. policy of rural industrialisation, Prem Group gradually spread over and
established various units and the latest addition to the Group was Aluminum
Foil Plant-PG Foils Limited. This plant was launched for manufacture of
Aluminium Foil in its full range of products.
It is the first wholly Indian Plant of the Country, having
latest modern machinery and technical know-how. The well qualified experts are
capable of taking any challenge thrown at them and they are eager to work on
any new specification required by the customer.The aluminium foil is mainly
used as packaging material and has proved to be the best of its kind because of
its unique protective properties. It is moisture proof, gas proof, light proof
and hygienic. It reflects 96% of light and gives a point of sale appeal. For
these properties, the major consumer industry of aluminium foil obviously becomes
the pharmaceutical industry which uses almost half of the aluminium foil
produced in
P.G.Foils has taken a long journey into the life of all Indians through it's
versatile and extensive range of products and applications. For years now they
have catered to several needs of the society.As a pouch material multiple
laminates are used for storage of solids, liquids, powders, granules of drugs,
foods, oils, chemicals, spices etc.P.G. Foils are licensed to produce 1,800 M/T
of aliuminium foil a year and are geared up to meet all market requirements
with the help of devoted team of young and energetic technical and sales team
led by their Managing Director Shri Pankaj P. Shah.Village Pipalia-Kalan a very
small village having population of about 5000 persons, is industrially
expanding fast but the medical and hospital facilities have not kept pace with
the galloping growth rate of the population and industries. Hence with the
inspiration created by Late Shri Parasraj G. Shah, it was projected to establish
a 50 bedded general hospital named "PG
PROFILE
Subject is a name synonymous with premium quality products, imitable expertise and total customer satisfaction. It believes extending a serving hand to there business associates and realizing their economic aspiration.
It is the product excellence and perfection approach, which have enabled us to build and maintain a long-term and strong relationship with there customer.
A well-qualified, experienced and dedicated team of professionals forms a
formidable bastion at Subject to ensure total satisfaction obits valuable
customers.
All operations are constantly monitored and managed by this
finely honed group, which ensure that the company retains and excels further in
building up its reputation as internationally acknowledged aluminium foils
manufacturer. Subject is rightly proud of it’s know – how perfected over along
period of time.
BOARD OF DIRECTOR
There deep rooted
family bonds. Nurtured by Late Shri Parasraj G.Shah, the founder of prem group
who braving the extreams of weather, set foot on the desert
Today prem group has
grown into a conglomerate. And in the crown of this multicrore group is a rare
jewel – Subject. The company with the third largest aluminium foil rolling
capacity in India , and whose product are used in various industries ranging
from pharmaceutical, food and beverages, communications, air conditioning and health products etc.
Needless to say,
Subject performance is the result of a strong bond amongst the shah brother –
Abhay P.Shah, Ashok P.Shah, and above all Pankaj P shah, who with his
entrepreneurial acumen has helped Subject reach the pinnacle of success.
Shri Pankaj
P.Shah (Managing Director)
This third generation entrepreneur who underwent an intensive training Foil
technology at
SHRI ASHOK P SHAH (Joint
Managing Director)
Rated in the commercial world as a businessman per excellence has diversified
business interest. Under his guidance at Subject, the energetic professionals
with proven calibers and required expertise are never lacking in their efforts
to make every single deal a resounding success.
SHRI ABHAY P SHAH (Whole-
Time Director)
To maintain consistency in day-to-day administration id this professionally
managed company is a dynamic young entrepreneur who proved his expertise if
handling purchase, marketing and exports with the required ability and
alacrity. His marketing efforts have brought to the company’s fold many top
multinational companies.
FINANCE
The company is
promoted by well-known Prem Group of Industries and was incorporated as public
limited company on November 7Th, 1979. The company’s shares are listed at
Mumbai, Ahmedabad and Jaipur stock Exchanges.
The company’s total capital base is Rupees 708 lacs with huge reserves. The
Company is totally debt-free and do not require any kind of financial
assistance or help from Financial institutions. The Company is working solely
on its reserves.
The company’s
production, sales, profits and reserves are constantly growing @ 20%-25%.
The company is procuring total input materials on cash payment basis and
enjoying good reputation among its vendors.
FACILITIES
Headed by executive
director (operations) having 25 years of hard-core experience in every facet of
foils manufacturing. Under his able guidance a team of managers and production planning
persons are adding strength to Subject.
- Roll grinding unit
- Co-extruded Poly Film Unit
- Captive Power Generating Plant
- Printing Cylinder Processing unit
- Fleet of trucks – Transport Division
- Electronic Artwork Preparation Section
Manufacturing
Manager (works) and a team of engineers, supervisors,
skilled and qualified technical persons has designed and developed several
machines and processes which helped the company to became the lowest cost foil
manufacturing unit in
Subject production facility at Pipalia Kalan is capable of meeting the manifold
demands made by industry and offers its customers a range of products made with
combination of Aluminium foil, Paper , PET, PE, BOPP etc. of varied thickness,
width, different coatings.
They excel in multilayer laminated and multicolour printed flexible packaging materials. They continuously update production facilities to optimise output and ensure quality products.
Geared- up with high performance modern equipments and machines.
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.55.73 |
|
|
1 |
Rs.87.26 |
|
Euro |
1 |
Rs.69.89 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--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.