|
Report Date : |
05.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
NAMO PACKAGING SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
116, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.12.2008 |
|
|
|
|
Com. Reg. No.: |
18-070150 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.2.635 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21014TN2008PTC070150 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEN06631C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Supplier of BOPP Films, Polyester Films, Stretch Films, Packaging Films,
Shrink Films, Hotmelt Adhesive and Sticker Paper. |
|
|
|
|
No. of
Employees: |
30 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 86000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established 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 caution. |
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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
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.
LOCATIONS
|
Registered Office : |
116, |
|
Tel. No.: |
91-44-25581410 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No.18, Kannakachatram, G |
|
Tel. No.: |
91 -44-25581411/25581414/25581412 |
|
Fax No.: |
91-44-25581410 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Anil Kumar Jain |
|
Designation : |
Director |
|
Address : |
116, |
|
Date of Birth/Age : |
11.01.1978 |
|
Date of Appointment : |
12.12.2008 |
|
DIN : |
02276345 |
|
|
|
|
Name : |
Mr. Jawarilal Uttamchand |
|
Designation : |
Director |
|
Address : |
116, |
|
Date of Birth/Age : |
21.08.1954 |
|
Date of Appointment : |
12.12.2008 |
|
DIN : |
02300762 |
|
|
|
|
Name : |
Mr. Vinod Kumar Uttamchand |
|
Designation : |
Director |
|
Address : |
116, |
|
Date of Birth/Age : |
04.09.1979 |
|
Date of Appointment : |
12.12.2008 |
|
DIN : |
02267193 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Uttam Chand Jain |
|
5000 |
|
Anil Kumar Jain |
|
35000 |
|
Neetha Jain |
|
25000 |
|
Vinod Kumar Jain |
|
25000 |
|
Nisha Jain |
|
32000 |
|
Anil Kumar (HUF) |
|
4500 |
|
Vinod Kumar (HUF) |
|
4500 |
|
|
|
110875 |
|
Manak Chand (UF) |
|
1875 |
|
Ramgopal |
|
1625 |
|
Dilip Kumar Sharma |
|
1875 |
|
Vinod Kumar |
|
1875 |
|
Hemraj |
|
1875 |
|
Manoj Kumar |
|
1500 |
|
Kanta Devi |
|
1875 |
|
Best Infra Developers Private Limited, |
|
1250 |
|
Siyaram Homecon Private Limited, |
|
2500 |
|
Pawansuit Construction |
|
2000 |
|
Radha Bhai |
|
500 |
|
Total |
|
260625 |
|
Names of Allottees |
|
No. of Shares |
|
Ugamraj |
|
1250 |
|
G. Anand |
|
500 |
|
|
|
|
|
Total |
|
1750 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of BOPP Films, Polyester Films, Stretch Films, Packaging
Films, Shrink Films, Hotmelt Adhesive and Sticker Paper. |
|
|
|
GENERAL INFORMATION
|
Supplier: |
·
Cosmo Films Limited ·
Million Paper Private Limited ·
N.G. Paper Industries ·
Northern Strips Limited ·
Protocol Labels India Private Limited ·
Screen Aids ·
Semi Coated Products Private Limited ·
Nahar Poly Films Limited ·
Rahul Impex ·
Poly Plex Corporation Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
30 [Approximately] |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
City Union Bank Limited, Perambur Branch No.56/127, Madavaram Main
Road, Perambur, Chennai -600011, Tamilnadu, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A Lalith and Company Chartered Accountants |
|
Address : |
19/20, |
|
Tel. No.: |
91-44-4276 3832 |
|
Mobile No.: |
91-98402 10018 |
|
E-Mail : |
|
|
Pan No.: |
ABBPL2283J |
|
|
|
|
Related Party : |
Veekay Enterprises |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital : Rs.10.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.2.635 Millions
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
260625 |
Equity Shares |
Rs.10/- each |
Rs.2.606
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 |
2.606 |
1.469 |
0.360 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
18.987 |
11.015 |
1.890 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
[0.062] |
|
|
NETWORTH |
21.593 |
12.484 |
2.188 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.900 |
0.188 |
|
|
TOTAL BORROWING |
0.000 |
0.900 |
0.188 |
|
|
DEFERRED TAX LIABILITIES |
0.006 |
0.001 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
21.599 |
13.385 |
2.376 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.105 |
0.074 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.903
|
6.750 |
0.748 |
|
|
Sundry Debtors |
15.800
|
6.067 |
1.762 |
|
|
Cash & Bank Balances |
0.374
|
0.005 |
0.094 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.004
|
1.467 |
0.434 |
|
Total
Current Assets |
25.081
|
14.289 |
3.038 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.155
|
0.159 |
0.695 |
|
|
Other Current Liabilities |
2.201
|
0.836 |
0.108 |
|
|
Provisions |
0.301
|
0.089 |
0.000 |
|
Total
Current Liabilities |
3.657
|
1.084 |
0.803 |
|
|
Net Current Assets |
21.424
|
13.205 |
2.235 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.070 |
0.106 |
0.141 |
|
|
|
|
|
|
|
|
TOTAL |
21.599 |
13.385 |
2.376 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
TURNOVER |
61.700 |
19.700 |
1.730 |
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX |
0.966 |
0.346 |
(0.062) |
|
|
|
|
|
|
|
Less |
TAX |
0.306 |
0.090 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT /
LOSS AFTER TAX |
0.660 |
0.256 |
(0.062) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.194 |
(0.062) |
NA |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.854 |
0.194 |
(0.062) |
|
|
|
|
|
|
|
|
Earnings/[Loss]
Per Share (Rs.) |
3.28 |
1.74 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.83 |
2.41 |
(2.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.03 |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.17 |
0.16 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.86 |
13.18 |
3.78 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
No |
|
Profitability
for last three years |
No |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
- |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
Yes |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
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 |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
No |
FORM 8
|
Corporate
identity number of the company |
U21014TN2008PTC070150 |
|
Name of the
company |
NAMO PACKAGING
SOLUTIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
116, Email: pcschn1@gmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge Others |
|
Particular of
charge holder |
City Union Bank Limited, Perambur Branch No.56/127, Madavaram Main
Road, Perambur, Chennai -600011, Tamilnadu, India Email: pcschn1@gmail.com |
|
Nature of
instrument creating charge |
Agreement
of Loan cum Hypothecation - F. No.259 |
|
Date of
instrument Creating the charge |
16.06.2012 |
|
Amount secured by
the charge |
Rs.10.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Base Rate + 2.75% pa. Subject to a minimum of 13.50% All other terms and conditions as per the existing charge
and determined by the banker from time to time. Term
of Payment: Repayable together with all interest, cost, charges which
may be debited to the respective accounts from time to time. All other terms
and conditions are as per the sanction letter and as determined by the banker
time to time. Margin All other terms and
conditions are as per the existing charge and determined by the banker from
time to time. Extent and
operation of the charge Operates
as First Charge in Favour of the Bank. Charge on the Mortgaged/hypothecated
assets shall be held by the Bank
as security till the complete closure of the Credit Limit sanctioned to the
Company. All
other terms and conditions as per existing charge and the above agreements Others: Open
Loan Cash Credit (OLCC) - Rs.10.000 Millions . All
other terms & conditions as per the existing charge and as determined by
the banker form time to time. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of Goods, Produce, Merchandise, Stocks in all Forms (Raw Materials, Semi
Finished Goods and Finished Goods) stored or to be stored from time to time
under OLCC and Other Working Capital Facilities such as BOPP Films,
Lamination and Other Alllied Products stored at No.18, Kannabiran Koil
Street, G.N.T Road, Karmakachatnam, Chennai - 600060 |
OPERATIONS
During the previous year company has was in
second year of its operation and made turnover of Rs.61.700 Millions and had
made reasonable margins. The company is hopeful of doing well in the coming
years
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.51.98 |
|
|
1 |
Rs.83.68 |
|
Euro |
1 |
Rs.67.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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.