MIRA INFORM REPORT
|
Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
E-PACK POLYMERS PRIVATE LIMITED |
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Registered
Office : |
2584, Rohtagi Mansion, 2nd Floor, Hamilton Road, Kashmere
Gate, Delhi – 110006 |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
12.02.1999 |
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Com. Reg. No.: |
55-98374 |
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Capital Investment
/ Paid-up Capital : |
Rs.38.754 millions |
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|
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CIN No.: [Company Identification
No.] |
U74999DL1999PTC098374 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELE01935D DELE01934C |
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PAN No.: [Permanent Account No.] |
AAACE5175D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Importer and Exporter of EPS Packaging, Telecom
Shelters, Pre-Fabricated Structure, Cold Chain Solution, Rooting and Cladding
Sheets, EPS Sheets, EPS Packaging, EPS Pallets. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
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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 a satisfactory track record.
Trade relations are fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Sanjay Sighania |
|
Designation : |
Director |
|
Contact No.: |
91-9958593021 |
|
Date : |
15.04.2013 |
LOCATIONS
|
Registered Office : |
2584, |
|
Tel. No.: |
91-11-23916862 / 23974876 |
|
Mobile No.: |
91-9958593021 (Mr. Sanjay Singhania) |
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Fax No.: |
91-11-23953687 |
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E-Mail : |
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|
Website : |
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Location : |
Rented |
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Factory : |
61 B and C, Udyog Vihar, |
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Tel. No.: |
91-120-2569078 / 2569079 |
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Fax No.: |
91-120-2569836 / 2569079 / 2569078 |
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E-Mail : |
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|
Area : |
18000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Ajay Singhania |
|
Designation : |
Director |
|
Address : |
A – 122, Sector – 40, Noida, Uttar Pradesh, India |
|
Date of Birth/Age : |
07.08.1974 |
|
Date of Appointment : |
27.12.1999 |
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Pan No.: |
ATNPS6678N |
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DIN No.: |
00107555 |
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|
|
|
Name : |
Mr. Laxmi Pat Bothra |
|
Designation : |
Director |
|
Address : |
B – 116, Golf Link, Sector – 40, Noida, Uttar Pradesh, India |
|
Date of Birth/Age : |
19.11.1961 |
|
Date of Appointment : |
30.09.2008 |
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Pan No.: |
AAGPB5838F |
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DIN No.: |
00130593 |
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|
|
|
Name : |
Mr. Rajat Bothra |
|
Designation : |
Director |
|
Address : |
B – 114, Golf Link, Sector – 40, Noida, Uttar Pradesh, India |
|
Date of Birth/Age : |
29.08.1982 |
|
Date of Appointment : |
15.10.2004 |
|
DIN No.: |
01044231 |
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|
|
|
Name : |
Mr. Sanjay Sighania |
|
Designation : |
Director |
|
Address : |
A – 122, Sector – 40, Noida, Uttar Pradesh, India |
|
Date of Birth/Age : |
26.07.1973 |
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Date of Appointment : |
12.02.1999 |
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Pan No.: |
ATEPS4866M |
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DIN No.: |
01291342 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Bajarang Lal Bothra |
|
579750 |
|
Kankanwari Devi Bothra |
|
186700 |
|
Punam Chand Bothra (HUF) |
|
5000 |
|
Leela Devi Bothra |
|
111700 |
|
Rajat Bothra |
|
95000 |
|
Laxmi Pat Bothra |
|
728400 |
|
Suman Devi Bothra |
|
145900 |
|
Nitin Bothra |
|
40000 |
|
Nikhil Bothra |
|
45000 |
|
Sanjay Singhania |
|
724850 |
|
Deen Dayal Sighania |
|
150100 |
|
Ajay Sighania |
|
742500 |
|
Pinki Sighania |
|
150000 |
|
Preeti Sighania |
|
105000 |
|
Divisha Sighania |
|
50000 |
|
Lalita Devi Singhania |
|
15000 |
|
Dinesh Bhuwalka |
|
500 |
|
Total |
|
3875400 |
As on 30.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of EPS Packaging, Telecom Shelters,
Pre-Fabricated Structure, Cold Chain Solution, Rooting and Cladding Sheets,
EPS Sheets, EPS Packaging, EPS Pallets.
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Products : |
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Exports : |
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Products : |
Prefabricated Structure |
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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 : |
L/C / Cash / Credit |
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Purchasing : |
L/C / Cash / Credit |
GENERAL INFORMATION
|
Customers : |
End Users and OME’s |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
Tel. No.: 91-120-2511225
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Samrath M. Surana and Company Chartered Accountants |
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Address : |
R. No.307, Sai Chamber, 783/16 D B Gupta Road, Karol Bagh, New
Delhi-110 005, India |
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Tel. No.: |
91-11-23550150 |
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PAN.: |
AAQFS4882C |
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Related Party : |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3875400 |
Equity Shares |
Rs.10/- each |
Rs.38.754
millions |
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|
|
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|
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Bajrang Lal Bothra |
3,80,500 |
982.00% |
|
Leela Devi Bothra |
3,10,950 |
802.00% |
|
Laxmi Pat Bothra |
3,40,900 |
880.00% |
|
Suman Devi Bothra |
3,33,400 |
860.00% |
|
Nitin Bothra |
2,40,000 |
619.00% |
|
Sanjay Singhania |
3,87,500 |
999.00% |
|
Deen Dayal Singhania |
3,52,750 |
910.00% |
|
Ajay Singhania |
3,87,500 |
999.00% |
|
Pinki Singhania |
3,02,350 |
780.00% |
|
Preeti Singhania |
3,05,000 |
787.00% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
38.754 |
38.754 |
38.754 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
218.149 |
187.962 |
169.927 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
256.903 |
226.716 |
208.681 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
238.303 |
159.576 |
163.760 |
|
|
2] Unsecured Loans |
42.596 |
10.032 |
32.781 |
|
|
TOTAL BORROWING |
280.899 |
169.608 |
196.541 |
|
|
DEFERRED TAX LIABILITIES |
34.748 |
27.748 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
572.550 |
424.072 |
405.222 |
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|
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|
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APPLICATION OF FUNDS |
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|
|
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|
|
|
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FIXED ASSETS [Net Block] |
456.172 |
401.835 |
344.761 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
9.576 |
|
|
|
|
|
|
|
|
INVESTMENT |
30.377 |
0.000 |
0.263 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
66.581
|
47.961 |
26.512
|
|
|
Sundry Debtors |
180.790
|
137.770 |
142.180
|
|
|
Cash & Bank Balances |
12.072
|
28.301 |
6.152
|
|
|
Other Current Assets |
8.744
|
11.101 |
0.000 |
|
|
Loans & Advances |
125.119
|
71.307 |
50.192
|
|
Total
Current Assets |
393.306
|
296.440 |
225.036 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
227.774
|
151.667 |
138.157
|
|
|
Other Current Liabilities |
67.677
|
109.312 |
34.407
|
|
|
Provisions |
11.854
|
13.224 |
1.850
|
|
Total
Current Liabilities |
307.305
|
274.203 |
174.414 |
|
|
Net Current Assets |
86.001
|
22.237 |
50.622
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
572.550 |
424.072 |
405.222 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
852.725 |
|
|
|
Other Income |
|
|
4.299 |
|
|
|
TOTAL (A) |
1122.097 |
966.086 |
857.024 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
801.407 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1074.040 (Including
Financial and Depreciation Expense) |
907.019 (Including
Financial and Depreciation Expense) |
801.407 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
55.617 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
17.280 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
38.337 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
16.731 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
48.057 |
59.067 |
21.606 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.870 |
20.599 |
2.494 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
30.187 |
38.468 |
19.112 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
109.916 |
91.881 |
72.769 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
0.000 |
20.433 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
140.103 |
109.916 |
91.881 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
NA |
9.211 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
2.523 |
|
|
|
Capital Goods |
NA |
NA |
23.356 |
|
|
TOTAL IMPORTS |
NA |
NA |
25.879 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.79 |
NA |
4.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.69
|
3.98 |
2.23
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
2.53
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.66
|
8.46 |
5.84
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.26 |
0.10
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.09
|
0.75 |
0.94
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28
|
1.08 |
1.29
|
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 |
No |
|
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 three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
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 |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
FINANCIAL RESULTS AND
OPERATIONS
During the year the income of the company was rose by 16.15%. It has earned a profit of Rs.30.187 Millions as against profit of Rs.38.468 Millions of last year. The Directors hope for performance better in current year.
During the year the company has acquired 98.40% share in M/s Raksha Tinplate Private Limited. The purpose of acquisition of shares is to install a new plant for manufacturing of pre-fabricated building structure. This is a long term strategic investment in the line of existing business.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Rupee term loans from others |
42.596 |
10.032 |
|
Total |
42.596 |
10.032 |
FIXED ASSETS
·
Building
·
Computer
·
Dies and Moulds
·
Furniture
·
Land
·
Office Equipment
·
Plant and Machinery
·
Light Com. Vehicle
·
Vehicle
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 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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.