|
Report Date : |
06.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SSF PLASTICS INDIA PRIVATE LIMITED |
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Registered
Office : |
Village Katha Pargana, Dhrampur, Near Baddi, Tehsil Nalagarh, Solan
-173205, Himachal Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
27.06.2006 |
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Com. Reg. No.: |
06-030421 |
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Capital
Investment/ Paid-up Capital: |
Rs.9.840 Million |
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CIN No.: [Company Identification
No.] |
U25209HP2006PTC030421 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of injection moulding, extrusion-blow moulding,
injection-blow moulding etc. |
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No. of
Employees: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1476000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record.
Financially company is performing well. Trade relations are reported to be
fair. Business is active. Payments are reported to be regular and as per
commitments The company can be considered for normal 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
s
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation it carry moderate credit risk. |
|
Date |
05.04.2010 |
|
Rating Agency Name |
ICRA |
|
Rating |
A2( Short Term Rating) |
|
Rating Explanation |
Having Strong degree of safety regarding
timely payment of financial obligation it carry low credit risk |
|
Date |
05.04.2010 |
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
|
Name : |
Mr. Victor |
|
Designation : |
Accounts Executive |
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Contact No.: |
91-22-66921932 |
|
Date : |
05.09.2012 |
LOCATIONS
|
Registered Office : |
Village Katha Pargana, Dhrampur, Near Baddi, Tehsil Nalagarh, Solan
-173205, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-323350 |
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Fax No.: |
91-1795-245522 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
32, Sarvodaya
Industrial Estate, Off |
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Tel. No.: |
91-22-66921932 / 33 / 35 |
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Fax No.: |
91-22-26873769 |
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E-Mail : |
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Manufacturing Location Western Region : |
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Factory 1 |
Survey No. 22/1, 23/A and 23/1, Behind Jagruti Textiles, Near Aristo
Exports, Village: Dabhel, Near Somnath
Industrial Estate, Daman –
396210, |
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Tel. No.: |
91-260-3267200 |
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Fax No.: |
91-260-2240975 |
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E-Mail : |
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Factory 2 : |
Plot #11, Silver Industrial Estate,
Bhimpur, Nani Daman - 396210, |
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Tel. No.: |
91-260-3250539 |
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Fax No.: |
91-260-2220570 |
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E-Mail : |
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Factory 3 : |
13,14,15,16 and 17, INCA Corporation Industrial Estate, Chinch Pada,
Village: Valiv, Vasai (East)
Dist. - Thane, |
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Tel. No.: |
91-250-2453072 / 32980622 |
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Fax No.: |
91-250-2453070 |
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E-Mail : |
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Northern Region: |
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Factory 1: |
Khasra No: 681-684 and 675, Behind Govt. Lakkar Depot, Village: Katha,
Baddi, |
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Tel. No.: |
91-1795-323350/09218467433 |
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Fax No.: |
91-1795-245522 |
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E-Mail : |
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Factory 2: |
Khasra No 323/1, MI, Central Hope Town, Camp Road, Selaqui,
Dehradun - 248297, |
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Tel. No.: |
91-0135-3242595/2698733 |
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E-Mail : |
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DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Kapil Balkishan Dhawan |
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Designation : |
Director |
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Address : |
Flat No. 401, 4th Floor, Daffodil Plot No. 50, |
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Date of Birth/Age : |
20.01.1952 |
|
Date of Appointment : |
27.06.2006 |
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Din No.: |
00493165 |
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Name : |
Mr. Sunil Balkishan Dhawan |
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Designation : |
Director |
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Address : |
9th Floor, Amardeep, Plot No. 39, |
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Date of Birth/Age : |
06.01.1960 |
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Date of Appointment : |
24.04.2007 |
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Din No.: |
00494947 |
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Name : |
Mrs. Manisha Sunil Dhawan |
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Designation : |
Director |
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Address : |
9th Floor, Amardeep, Plot No. 39, |
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Date of Birth/Age : |
22.02.1960 |
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Date of Appointment : |
27.06.2006 |
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Din No.: |
00495133 |
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Name : |
Mr. Saurabh Kapil Dhawan |
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Designation : |
Director |
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Address : |
Flat No. 401, 4th
Floor, Daffodil Plot No. 50, |
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Date of Birth/Age : |
25.09.1979 |
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Date of Appointment : |
21.04.2007 |
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Din No.: |
00495363 |
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|
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Name : |
Mr. Ramesh Madhavdas Chugh |
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Designation : |
Director |
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Address : |
1301/1302, 13th
Floor, Karma, |
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Date of Birth/Age : |
30.09.1962 |
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Date of Appointment : |
21.04.2007 |
|
Din No.: |
00495488 |
KEY EXECUTIVES
|
Name : |
Mr. Victor |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Kapil Balkishan Dhawan |
|
192000 |
|
Manisha Sunil Dhawan |
|
216000 |
|
Ramesh Madhavdas Chugh |
|
142800 |
|
Saurabh Kapil Dhawan |
|
144000 |
|
Sunil Balkishan Dhawan |
|
192000 |
|
Rama Kapil Dhawan |
|
72000 |
|
Monali Saurabh
Dhawan |
|
4800 |
|
Shikha Ramesh
Chugh |
|
4800 |
|
Daksh Sunil
Dhawan |
|
6000 |
|
Dhruv Sunil
Dhawan |
|
4800 |
|
Pulkit Sunil Dhawan |
|
4800 |
|
Total |
|
984000 |
AS ON 30.09.2011
|
Category |
|
Percentage |
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|
|
|
Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of injection moulding, extrusion-blow moulding,
injection-blow moulding etc. |
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Exports : |
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Products : |
Injection Moulding Extrusion-blow Moulding Injection-Blow
Moulding |
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Countries : |
·
·
·
Srilanka |
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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/Credit |
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Purchasing : |
Cash/Credit |
PRODUCTION STATUS As on 31.03.2011
|
Installed
Capacity |
31.03.2011 |
|
Injection Moulding Machines |
30571 GMS |
|
Blow Moulding Machines |
60.06 Liters |
As certified by the
Management and being a technical matter, accepted by the Auditors As correct.
GENERAL INFORMATION
|
Suppliers : |
Reliance |
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Customers : |
Wholesalers, Retailers ·
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No. of Employees : |
400 (Approximately) |
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Bankers : |
·
Bank of ·
HSBC Bank ·
The Hongkong and Shanghai Banking Corporation
Limited, 52/60, |
|||||||||||||||||||||||||||
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Facilities : |
CC – Rs.70.000 Millions ( From Bank of Rs.
In Millions
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kishore Mehta and Associates Chartered Accountant |
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Address : |
210, Sai Deep, 2nd Floor, Chembur Govandi Road, Opposite Hotel Vaishali , Chembur Mumbai,
Maharashtra, India |
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Pan No.: |
AABPM5022F |
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|
·
B.M Plast ·
SSF Plastics ·
SSF Plastics (H.P) ·
SSF Plastics Moulders ·
SSF Packaging ·
J.D.Exports ·
KSR Plastics ·
MKS International Chanel Exports Private Limited · International Woollen Mills |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5300000 |
Equity Shares |
Rs.10/- each |
Rs.53.000 Millions |
|
700000 |
Preference Shares |
Rs.10/- each |
Rs.7.000 Millions |
|
|
Total |
|
Rs.60.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
984000 |
Equity Shares |
Rs.10/- each |
Rs.9.840
Millions |
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|
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 |
9.840 |
0.205 |
0.205 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
359.271 |
273.391 |
183.211 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
369.111 |
273.596 |
183.416 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
206.918 |
150.692 |
74.508 |
|
|
2] Unsecured Loans |
220.792 |
177.032 |
165.900 |
|
|
TOTAL BORROWING |
427.710 |
327.724 |
240.408 |
|
|
DEFERRED TAX LIABILITIES |
19.203 |
14.104 |
9.103 |
|
|
|
|
|
|
|
|
TOTAL |
816.024 |
615.424 |
432.927 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
533.479 |
426.569 |
228.537 |
|
|
Capital work-in-progress |
48.736 |
2.762 |
1.746 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
172.805
|
121.358 |
98.430 |
|
|
Sundry Debtors |
199.811
|
154.801 |
92.337 |
|
|
Cash & Bank Balances |
18.250
|
18.916 |
12.753 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.258 |
|
|
Loans & Advances |
156.382
|
112.796 |
77.339 |
|
Total
Current Assets |
547.248
|
407.871 |
281.117 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
85.051
|
82.489 |
16.966 |
|
|
Other Current Liabilities |
144.741
|
93.493 |
35.763 |
|
|
Provisions |
83.870
|
45.804 |
25.760 |
|
Total
Current Liabilities |
313.662
|
221.786 |
78.489 |
|
|
Net Current Assets |
233.586
|
186.085 |
202.628 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.223 |
0.008 |
0.016 |
|
|
|
|
|
|
|
|
TOTAL |
816.024 |
615.424 |
432.927 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
TURNOVER |
1171.509 |
792.083 |
622.764 |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
188.150 |
142.709 |
126.156 |
|
|
|
|
|
|
|
|
|
Less Add |
DEPRECIATION/
AMORTISATION |
49.447 |
27.483 |
22.216 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
138.703 |
115.226 |
103.940 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
42.637 |
25.023 |
15.850 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
96.066 |
90.203 |
88.090 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
263.390 |
183.210 |
95.120 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
10.000 |
0.000 |
|
|
|
Dividend |
0.472 |
0.020 |
0.000 |
|
|
|
Tax on Dividend |
0.078 |
0.003 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
358.906 |
263.390 |
183.210 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
183.206 |
92.995 |
146.747 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
63.831 |
43.124 |
18.665 |
|
|
|
Stores & Spares |
1.575 |
1.717 |
0.200 |
|
|
|
Capital Goods |
37.201 |
48.681 |
18.665 |
|
|
TOTAL IMPORTS |
102.607 |
93.522 |
37.530 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
97.63 |
- |
- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
2500.000 |
Expected Sales (2012-2013) : Rs.3000.000 Millions
The above information has been parted by Mr. Victor
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.73 |
13.81 |
20.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.42 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.01 |
2.01 |
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74 |
1.84 |
3.58 |
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 |
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 |
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 |
Yes |
SUNDRY CREDITORS DETAIL
(Rs. In Millions )
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
85.051
|
82.489 |
16.966 |
|
Total |
85.051
|
82.489 |
16.966 |
OPERATION AND
FUTURE PROSPECTS:
During the year,the company has progressed on the path of sustainable
and profitable growth. The gross turnover of the company has increased to
Rs.1171.509 Millions as compared to Rs. 792.082 Millions in the previous year.
The net profit after tax has increase to Rs.96.066 Millions as compared to Rs.
90.204 Millions in the previous year.
The company has maintained and strengthened its leadership position in
injection/blow moulded plastic business. Considering present order level and
future of plastic Industries the company
expects very good business in near future
FORM 8
|
Corporate
identity number of the company |
U25209HP2006PTC030421 |
|
Name of the
company |
SSF
PLASTICS INDIA PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Village Katha Pargana, Dhrampur, Near Baddi, Tehsil Nalagarh, Solan HP
-173205, Email: dhawans@ssfplastics.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
The Hongkong and Shanghai Banking Corporation Limited, 52/60, Email: pareshmehta@hsbc.co.in |
|
Nature of
instrument creating charge |
Deed
of Hypothecation dated 09 March 2012 for First pari passu charge on Stocks
and Receivables and Plant and Machinery and all other movable fixed assets
both present and future for INR 110.000 Millions |
|
Date of
instrument Creating the charge |
09.03.2012 |
|
Amount secured by
the charge |
Rs. 110.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest shall be payable by the Company on the banking
facilities as per Bank tariff subject however that the Bank shall have the right
to change the rate of interest after giving notice to the company Term
of Payment: In Consideration of Banking facilities sanctioned/to be
sanctioned by the bank to the company, the company has hypothecated and
charged to the bank by way of First Pari passu charge on S and R, P and M and
all other movable fixed assets both present and future for INR 110 M as
mentioned in Principal Deed of Hypothecation to secure the repayments of the
advances together with interest cost and all other charges Margin The company shall
maintain such margin as may be specified by the Bank from time to time. Extent and
operation of the charge In case the Company fails to fulfill its
obligations under the agreement , the bank shall be entitled to take
possession of the hypothecated properties and sell them by public auction or
private contract and utilize the proceeds in full or part settlement of its
claims |
|
Short particulars
of the property charged (Including location of the property) |
First
pari passu charge on Stock and Book Debts, Plant and machinery and all other
movable fixed assets both present and future for INR 110 Million more
particularly described in DOH dated 09March2012 |
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.55.54 |
|
|
1 |
Rs.88.23 |
|
Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.