|
Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
POYSHA PACKAGING PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Flat No. A – 71, Himalayan Co – Operative Group Housing, Society
Limited, Plot No. 10, Sector – 22, Dwarka, New Delhi - 110075 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.01.2004 |
|
|
|
|
Com. Reg. No.: |
55-123895 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.934 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U54950DL2004PTC123895 |
|
|
|
|
IEC No.: |
0507047141 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP7033L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter of Food Packaging Material. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 295000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company appears to be fair. Trade relations are reported as fair. Business is active. Payments
terms are usually correct. 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International Finance
Corporation expects to come out with its rupee linked bonds issue before the
end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs
41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched
in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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. Manoj Singh |
|
Designation : |
Export Department |
|
Contact No.: |
91-9650299325 |
|
Date : |
28.11.2013 |
LOCATIONS
|
Registered Office : |
Flat No. A – 71, Himalayan Co – Operative Group Housing, Society
Limited, Plot No. 10, Sector – 22, Dwarka, New Delhi – 110075, India |
|
Tel. No. : |
Not Available |
|
Mobile No. : |
91-9650299325 (Mr. Manoj Singh) |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
N-30, National Steel Compound Patel Marg, Meerut Road,
Ghaziabad-201003, |
|
Tel. No.: |
91-120-4158005 / 4158006 |
|
Mobile No.: |
91-9359525953/ 9818165000 (Mr. Sandeep Kansal) |
|
Fax No.: |
91-120-2701377 |
|
E-Mail : |
|
|
Area : |
3000 Sq. ft |
|
Location : |
Rented |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sandeep Kumar |
|
Designation : |
Director |
|
Address : |
R-13/117, Raj Nagar, Ghaziabad-201002, |
|
Date of Birth/Age : |
01.05.1970 |
|
Qualification : |
B Tech |
|
Date of Appointment : |
30.11.2004 |
|
DIN No. : |
00368934 |
|
|
|
|
Name : |
Mr. Narender Kumar |
|
Designation : |
Director |
|
Address : |
R-14/10, Raj Nagar, Ghaziabad-201002, |
|
Date of Birth/Age : |
15.03.1962 |
|
Qualification : |
BSC Agriculture |
|
Date of Appointment : |
20.10.2008 |
|
DIN No. : |
00368980 |
|
|
|
|
Name : |
Mr. Abhas Kumar |
|
Designation : |
Director |
|
Address : |
R-14/10, Raj Nagar, Ghaziabad-201002, |
|
Date of Birth/Age : |
21.06.1984 |
|
Date of Appointment : |
23.04.2012 |
|
DIN No. : |
05268720 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Sandeep Kumar |
269970 |
|
Raj Rani |
30000 |
|
Sandeep Kumar on behalf of Master Yash Kansal |
30000 |
|
Banarshi Dass Verma |
700 |
|
Sanjay Kansal |
300 |
|
Brahmanand Gupta |
100 |
|
M/S. Narendra Kumar and Company |
56000 |
|
Mili Goel |
10 |
|
Neeraj Goel |
10 |
|
Ved Prakash Goel |
10 |
|
S. H. Polymers Private Limited |
10 |
|
Splendour Auto Private Limited |
145000 |
|
Narendra Kumar |
461300 |
|
Divya Gaeg |
10 |
|
Gaurav Kansal and Sons |
10 |
|
Rupali |
10 |
|
|
|
|
Total |
993440 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
15.00 |
|
Directors or relatives of Directors |
85.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter of Food Packaging Material. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
UK ·
USA ·
South Africa |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Maurtius ·
UK |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users Ø Tata Tea Limited Ø Parle Products Ø Tata
International Limited Ø Godfrey Phillips
India Limited Ø Warner and
Warner, USA Ø KRBL Limited
(india Gate Rice) Ø Capital Foods
Limited Ø Mawana Sugar
Works Ø Albadr and
Almuaini General Trading, Dubai, UAE Ø Indo European
Foods Limited (U.K.) Ø Reliance Food
Processing Solution Limited |
|||||||||||||||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
Ø HSBC Bank,
Barakhamba Road, New Delhi , India Tel No. : 91-11-41490715 Ø The Hongkong and
Shanghai Banking Corporation Limited, 25, Barakhamba Road, Birla Tower, New
Delhi – 110001, India Ø Bank of India,
G.T. Road, Ghaziabad – 201001, Uttar Pradesh, India Ø Oriental Bank of
Commerce, IMT Raj Nagar, Ghaziabad – 201001, Uttar Pradesh, India |
|||||||||||||||||||||||||||||||||||||||||||||
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|
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|
Facilities : |
NOTE: Term loan and cash credit limits from Bank of India are also collaterally
secured by equitable mortgage of industrial property No. N-26, 27, 28, 29 and
30, part of Khasra No 730, National Steel Com[ound. Gokhna and Industrial Property at N-21, N-22, and N-23 Meerut Road
Indl. Area, patel Marg Ghaziabad standing in the name of one of the director
of company and hypothecation of existing and furture fixed assets of the
company. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil Vaish and Company Chartered Accountants |
|
Address : |
C-98, RDC, Raj Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
|
Tel. No. : |
91-120-2822234 / 35 / 36 |
|
|
|
|
Associates : |
v Pioneer Industries v Genrsis Bistro (Private) Limited v AVN Esate (Private) Limited v Genesis Medicare (Private) Limited v Lucky Tex International v Meta Plast Engineering Company v Narendra Kumar an Company |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
993440 |
Equity Shares |
Rs.10/- each |
Rs.9.934 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
NOTE: FINANCIAL DETAILS FILE
ATTACHED.
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
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
The registerd address of the company has been shifted from Plot No. 10,
Sector 22, Dwarika, New Delhi-110045, India to the present address w.e.f.
20.02.2012
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Shareholders |
113.303 |
72.780 |
|
From Body Corportes |
0.000 |
3.458 |
|
|
|
|
|
Total |
113.303 |
76.238 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10361619 |
30/05/2012 |
40,000,000.00 |
The Hongkong
& Shanghai Banking Corporation Limited |
25, Barakhamba Road,
Birla Tower, New Delhi, Delhi - 110001, INDIA |
B42035568 |
|
2 |
10194270 |
21/05/2010 * |
95,000,000.00 |
Bank of India |
G.T.Road,
Ghaziabad, Uttar Pradesh - 201001, INDIA |
A86961307 |
|
3 |
10194269 |
18/11/2009 |
12,600,000.00 |
BANK OF INDIA |
G.T.ROAD,
GHAZIABAD, Uttar Pradesh - 201001, INDIA |
A76340785 |
|
4 |
10194268 |
18/11/2009 |
25,000,000.00 |
BANK OF INDIA |
G.T.ROAD,
GHAZIABAD, Uttar Pradesh - 201001, INDIA |
A76340116 |
* Date of charge modification
FIXED ASSETS
Ø Air Conditioners
Ø Computer
Ø D.G Set
Ø Furniture and Fixture Etc
Ø Fire Extinguisher
Ø Office Equipment
Ø Lab Equipment
Ø Submersible Pump
Ø Telecom Instruments
Ø Weighing Machines
Ø Plant and Machinery
Ø Electrical Installation
Ø Inverter
Ø Rubber Rollers
Ø Printing Cylinder
Ø Car
Ø Commercial 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.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.