MIRA
INFORM REPORT
|
Report Date : |
07.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRADEEP LAMINATORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No.392, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.11.1997 |
|
|
|
|
Com. Reg. No.: |
11-111990 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.917 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1997PTC111990 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Flexible Packaging Materials. |
|
|
|
|
No. of Employees
: |
72 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 340000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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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. Financially
company has performed well during the current year. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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
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 DECLINED BY
|
Name : |
Mr. G V N Murthy |
|
Designation : |
Marketing Head |
|
Contact No.: |
91-9860094537 |
|
Date : |
05.01.2013 |
LOCATIONS
|
Registered Office/Factory : |
Gat No.392, |
|
Tel. No.: |
91-2135-259046/259167/259168/678900-909 |
|
Mobile No.: |
91-9860094537 (Mr. G V N Murthy) |
|
Fax No.: |
91-2135-259299 / 678910 |
|
E-Mail : |
ravindra.mathuria@pradeeplaminators.com pradeeplaminators@pradeeplaminators.com
rajesh.chaudhary@pradeeplaminators.com
|
|
Website : |
|
|
Area : |
2 Acres |
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Rajkumar Devichand Agarwal |
|
Designation : |
Managing Director |
|
Address : |
Janki Niwas, Sector No.25, Plot No.622, Nigdi Pradhikaran, Pune –
411044, |
|
Date of Birth : |
01.06.1951 |
|
Date of Appointment : |
20.11.1997 |
|
DIN No.: |
00321863 |
|
|
|
|
Name : |
Mr. Vinod Rajkumar Agarwal |
|
Designation : |
Whole Time Director |
|
Address : |
622/25, PCNT, Nigdi, Pune – 411044, |
|
Date of Birth : |
10.12.1971 |
|
Date of Appointment : |
20.11.1997 |
|
DIN No.: |
00422000 |
|
|
|
|
Name : |
Mr. Sachin Rajkumar Agarwal |
|
Designation : |
Whole Time Director |
|
Address : |
Janki Niwas, Sector No.25, Plot No.622, Nigdi Pradhikaran, Pune –
411044, |
|
Date of Birth : |
24.02.1978 |
|
Date of Appointment : |
01.10.2004 |
|
DIN No.: |
00321909 |
KEY EXECUTIVES
|
Name : |
Mr. G V N Murthy |
|
Designation : |
Marketing Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Rajkumar Devichand Agarwal |
99169 |
|
Vinod Rajkumar Agarwal |
35000 |
|
Sachin Rajkumar Agarwal |
35000 |
|
TOTAL
|
169169 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Flexible Packaging Materials. |
GENERAL INFORMATION
|
No. of Employees : |
72 (Approximately) |
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Bankers : |
·
The Cosmos Co-operative Bank Limited, Chinchwad
Branch, 269/270, Shaniwar Peth, Pune – 411030, Maharashtra, India ·
HDFC Bank ·
IDBI Bank ·
Axis Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
L B Laddha and Company Chartered Accountants |
|
Address : |
Flat No.7 and 8, 2nd Floor, Station Road, Pimpri, Pune – 411018,
Maharashtra, India |
|
Tel. No.: |
91-20-27425966/27420547 |
|
PAN No.: |
AABFL8847M |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000 |
Equity Shares |
Rs.100/-
each |
Rs. 9.000
Millions |
|
79169 |
Equity Shares (Consideration other than cash) |
Rs.100/- each |
Rs. 7.917 Millions |
|
|
TOTAL |
|
Rs. 16.917 Millions |
NOTES
Reconciliation of the shares outstanding at the beginning and at the end
of the reporting period
|
Equity Shares |
31st
March 2012 |
|
|
No. |
Rs. In Millions |
|
|
At the beginning of the period |
169,169 |
16.917 |
|
Issued during the year |
-- |
-- |
|
Outstanding at the end of period |
169,169 |
16.917 |
Details of shareholders holding more than 5% shares in company
|
Equity Shares |
31st
March 2012 |
|
|
No. |
% Holding in
Class |
|
|
Rajkumar Devichand Agarwal |
99,169 |
58.62% |
|
Viond Rajkumar Agarwal |
35,000 |
20.69% |
|
Nitin Rajkumar Agarwal |
-- |
0.00% |
|
Sachin Rajkumar Agarwal |
35,000 |
20.69% |
|
Sandeep Rajkumar Agarwal |
-- |
0.00% |
|
Surendra Rajkumar Agarwal |
-- |
0.00% |
Terms/ Rights Attached to the Equity Shares
The Company has
issued only one class of Equity Shares having per Value of Rs. 100 per share. Each
holder of equity share is entitled to one vote per share. The Board of
Directors does not propose any dividend to be distributed for the year. In the
event of liquidation of the Company the holders of equity shares will be
entitled to receive remaining assets of the Company, after distribution of all
preferential amounts. The distribution will be in proportion to the numbers of
equity shares held by the Shareholders.
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 |
16.917 |
16.917 |
16.917 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
69.112 |
39.133 |
27.151 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
86.029 |
56.050 |
44.068 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
103.727 |
105.518 |
103.097 |
|
|
2] Unsecured Loans |
0.105 |
0.440 |
22.097 |
|
|
TOTAL BORROWING |
103.832 |
105.958 |
125.194 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
189.861 |
162.008 |
169.262 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
50.277 |
61.703 |
76.356 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.550 |
0.550 |
0.550 |
|
|
DEFERREX TAX ASSETS |
5.691 |
4.335 |
2.111 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
43.240
|
23.295
|
16.770
|
|
|
Sundry Debtors |
62.652
|
100.889
|
70.102
|
|
|
Cash & Bank Balances |
4.594
|
1.680
|
1.398
|
|
|
Other Current Assets |
3.897
|
3.670
|
8.492
|
|
|
Loans & Advances |
56.535
|
5.359
|
10.922
|
|
Total
Current Assets |
170.918
|
134.893 |
107.684 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
17.519
|
21.142
|
11.876
|
|
|
Other Current Liabilities |
13.812
|
11.072
|
0.000
|
|
|
Provisions |
6.244
|
7.259
|
5.563
|
|
Total
Current Liabilities |
37.575
|
39.473 |
17.439 |
|
|
Net Current Assets |
133.343
|
95.420
|
90.245
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
189.861 |
162.008 |
169.262 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenues from Operations |
471.275 |
|
358.895 |
|
|
|
Other Income |
51.604 |
1.446 |
|
|
|
|
TOTAL |
522.879 |
515.229 |
358.895 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
473.357 |
|
361.167 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
473.357 |
502.264 |
361.167 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
49.522 |
12.965 |
(2.272) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
19.544 |
0.983 |
(0.943) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
29.978 |
11.982 |
(1.329) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA
|
2.924 |
5.736 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
177.21 |
70.83 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.73
|
2.33 |
(0.37) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.51
|
2.52 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.83
|
6.45 |
(1.23) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.23 |
(0.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.64
|
2.59 |
3.24
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.55
|
3.42 |
6.17
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
17.519
|
21.142
|
11.876
|
|
|
|
|
|
|
TOTAL |
17.519
|
21.142
|
11.876
|
FINANCIAL RESULTS
The turnover of
the company has marginally decreased by 8.27% as against increase of 44.01% in
the previous year. The net profit after tax stood at 6.36 % as against 2.33 %
in the previous year.
The continue to
enjoy sustained demand from the customers. Directors are optimistic that the
company would post better performance in the current year.
FORM 8
|
Corporate
identity number of the company |
U25209MH1997PTC111990 |
|
Name of the
company |
PRADEEP
LAMINATORS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No.392, Talegaon Chakan Highway Village Malunge, Khed, Pune - 410501, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
The Cosmos Co-operative Bank Limited, Chinchwad Branch, 269/270,
Shaniwar Peth, Pune – 411030, Maharashtra, India |
|
Nature of
instrument creating charge |
Composite Deed of
Mortgage for Creation of Further Charge Dated 31.08.2012 |
|
Date of
instrument Creating the charge |
31.08.2012 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 15.50% P.A. As
Per Present Credit Rating Terms of repayment Repayable On
Demand Subject To Review Within 12 Months Margin 25% In Banks
Favour Extent and operation of the charge The charge shall
continue to operate till full repayment of the facility enjoyed by the
company. Other Facility:- bills
discounting of Rs.20.000 Millions for working capital finance, sanctioned to
Pradeep Polyflex Private Limited. |
|
Short particulars
of the property charged (Including location of the property) |
All piece and
parcel of land admeasuring 42 R at Gat No. 392/1, Talegaon Chakan Road,
Mhalunge, Taluka Khed, District Pune, All piece and parcel
of land admeasuring 38 R at Gat No. 392/1, Talegaon Chakan Road, Mhalunge,
Taluka Khed, District Pune |
FIXED ASSETS
·
Land and Machinery
·
Factory Building
·
Furniture
·
Air Conditioner
·
Machinery Vehicle
·
Computer and Software
·
Motor Car
·
Xerox Machine
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. 54.84 |
|
|
1 |
Rs. 88.16 |
|
Euro |
1 |
Rs. 71.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
47 |
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.