MIRA
INFORM REPORT
|
Report Date : |
21.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
PACKTECH MATERIALS PRIVATE LIMITED |
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Registered
Office : |
Gala No. 69, Hasti Industrial Premises Co-operative Society Limited,
Plot No. R-798, Mahape, Navi Mumbai – 400701, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
08.03.2010 |
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Com. Reg. No.: |
11-200639 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.500 Millions |
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CIN No.: [Company Identification
No.] |
U51109MH2010PTC200639 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Dealer, Exporter and Distributor of Desi Ghee, Dry Fruits,
Chikki and Spices. |
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No. of Employees
: |
2 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 15000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company having moderate track.
Profitability of the company appears to be low. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Pradip Mehta |
|
Designation : |
Director |
|
Contact No.: |
91-9322271017 |
|
Date : |
20.11.2012 |
LOCATIONS
|
Registered Office : |
Gala No. 69, Hasti Industrial Premises Co-operative Society Limited,
Plot No. R-798, Mahape, Navi Mumbai – 400701, Maharashtra, India |
|
Tel. No.: |
91-22-27780987/ 27788200 |
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Mobile No.: |
91-9322271017 (Mr. Pradip Mehta) |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Area : |
500 Sq. ft |
|
Location : |
Leased |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Pradip Popatlal Mehta |
|
Designation : |
Managing director |
|
Address : |
303, Jai Apartment, Nehru Road, Opposite, Record Hotel, Santacruz
(East), Mumbai – 400055, Maharashtra, India |
|
Date of Appointment : |
08.03.2010 |
|
DIN No.: |
02859406 |
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|
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|
Name : |
Mr. Chirag Pradip Mehta |
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Designation : |
Director |
|
Address : |
304, Jay Apartment, Nehru Road, Opposite, Record Hotel, Santacruz
(East), Mumbai – 400055, Maharashtra, India |
|
Date of Appointment : |
13.12.2010 |
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DIN No.: |
02859321 |
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Name : |
Mrs. Urvashi Chirag Mehta |
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Designation : |
Director |
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Address : |
B/303/304, Jay Apartment, Nehru Road, Santacruz (East), Mumbai –
400055, Maharashtra, India |
|
Date of Appointment : |
13.12.2010 |
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DIN No.: |
02873456 |
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Name : |
Mrs. Snehlata Pradip Mehta |
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Designation : |
Whole-time director |
|
Address : |
B/303, 304, Jai Apartment, Nehru Road, Opposite, Record Hotel,
Santacruz (East), Mumbai – 400055, Maharashtra, India |
|
Date of Appointment : |
08.03.2010 |
|
DIN No.: |
02874441 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Pradip Popatlal Mehta |
|
115000 |
|
Snehlata Pradip Mehta |
|
125000 |
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Chirag Pradip Mehta |
|
50000 |
|
Urvashi Chirag Mehta |
|
60000 |
|
Total |
|
350000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Dealer, Exporter and Distributor of Desi Ghee, Dry Fruits,
Chikki and Spices. |
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|
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Products : |
Ø Desi Ghee Ø Dry Fruits Ø Chikki Ø Spices |
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Exports : |
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Products : |
Spices |
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Countries : |
Middle East Europe |
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Terms : |
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Selling : |
Cash and Credit (30 Days, 60 Days to 90 Days) |
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Purchasing : |
Cash and Credit (30 Days to 60 Days) |
GENERAL INFORMATION
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No. of Employees : |
2 (Approximately) |
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Bankers : |
Ø Canara Bank,
Santacruz (East) Branch, Lovely House, Near Midland Hotel, Mumbai – 400055,
Maharashtra, India Ø ING Vysya Bank Ø Standard
Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Shailesh Kamdar and Company Chartered Accountants |
|
Address : |
407 Central Facility Building, APMC Market - I, Phase- II Masala
Market, Vashi, Navi Mumbai – 400703, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADPK0838K |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350,000 |
Equity Shares |
Rs.10/- each |
Rs. 3.500 Millions |
|
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|
|
|
Holding more than 5%
|
Particulars |
31.03.2012 |
% Held |
|
Chirag Pradip Mehta |
50000 |
14.29 |
|
Pradip Popatlal Mehta |
115000 |
32.86 |
|
Snehlata Pradip Mehta |
125000 |
35.71 |
|
Urvashi Chirag Mehta |
60000 |
17.14 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
3.500 |
3.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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|
3] Reserves & Surplus |
|
0.489 |
0.043 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
3.989 |
3.543 |
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LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
5.804 |
5.949 |
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2] Unsecured Loans |
|
2.693 |
0.109 |
|
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TOTAL BORROWING |
|
8.497 |
6.058 |
|
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DEFERRED TAX LIABILITIES |
|
0.071 |
0.000 |
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TOTAL |
|
12.557 |
9.601 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.992 |
1.571 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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|
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INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
3.277 |
1.642 |
|
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Sundry Debtors |
|
15.778 |
9.453 |
|
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Cash & Bank Balances |
|
0.866 |
0.032 |
|
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Other Current Assets |
|
0.328 |
0.194 |
|
|
Loans & Advances |
|
0.125 |
0.165 |
|
Total
Current Assets |
|
20.374 |
11.486 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
7.800 |
3.359 |
|
|
Other Current Liabilities |
|
0.859 |
0.041 |
|
|
Provisions |
|
0.150 |
0.056 |
|
Total
Current Liabilities |
|
8.809 |
3.456 |
|
|
Net Current Assets |
|
11.565 |
8.030 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
12.557 |
9.601 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
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|
Other Income |
|
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|
|
|
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TOTAL |
|
40.605 |
13.246 |
|
|
|
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|
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|
Less |
EXPENSES |
|
|
|
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|
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|
Office Expenses |
|
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|
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Administrative Expenses |
|
|
|
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Advertising Expenses |
|
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|
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TOTAL |
|
39.949 |
13.156 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
0.656 |
0.090 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
N.A. |
N.A. |
|
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|
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|
|
|
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|
|
PROFIT AFTER TAX
|
|
N.A. |
N.A. |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.07 |
0.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.16 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
4.34 |
2.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.31 |
3.32 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two 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 |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Note: The registered address of the company has been shifted from C/13, Plot
No. 11A and 11D, MIDC, Punit Industrial Co-operative Society Limited, Thane
Belapur Road, Turbhe, Navi Mumbai - 400705, Maharashtra, India to the present w.e.f.
11.10.2012
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51109MH2010PTC200639 |
|
Name of the
company |
PACKTECH
MATERIALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C/13, Plot No.
11A and 11D, MIDC, Punit Industrial Co-operative Society Limited, Thane
Belapur Road, Turbhe, Navi Mumbai - 400705, Maharashtra, India Email: sandeep@sppc.co.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property Book Debts |
|
Particular of
charge holder |
Canara Bank, Santacruz (East) Branch, Lovely House, Near Midland
Hotel, Mumbai – 400055, Maharashtra, India Email: cb0111@canarabank.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Common
Hypothecation Agreement dated 24th March 2011 ODBD Rs. 7.500 Millions |
|
Date of
instrument Creating the charge |
24.03.2011 |
|
Amount secured by
the charge |
Rs. 7.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 11% p a Terms of Repayment Tenability till
upto 14-03-2012 Margin 30% Extent and Operation of the charge The Bank shall
have first charge on all the assets secured. |
|
Short particulars
of the property charged |
Hypothecation of
Book Debts. EMT of Gala No.13,
Ground Floor, Punit Industrial Premises CHS Limited, MIDC, Turbhe, Navi
Mumbai EMT of Flat
No.503, 5th floor, Nishant Millenium CHS Limited, Plot No. Ic, sector 28,
Vashi, Navi Mumbai EMT of Flat
No.504, 5th Floor, Nishant Millenium CHS Limited, Plot No. Ic, sector 28,
Vashi, Navi Mumbai II, III, and IV
are not belonging to the company. |
FIXED ASSETS:
Ø
Plant and Machinery
Ø
Computer
Ø
Vehicles
Ø
Office Equipments
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 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. 54.91 |
|
|
1 |
Rs. 87.38 |
|
Euro |
1 |
Rs. 70.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNH |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
27 |
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.