MIRA INFORM REPORT
|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNIPACK PACKAGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-8/8289, Vasant Kunj, New Delhi-110070, Delhi |
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Country : |
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Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.05.2001 |
|
|
|
|
Com. Reg. No.: |
11-110736 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.22.350 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74950DL2001PTC110736 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELU01897A |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
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Line of Business
: |
Manufacturer of plastic molding components and insulation
tapes. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 230000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
profit and loss statement for the year 2012 are not made available. As per available
financial of 2011 the profitability of the company appears to be low. However, trade relations are reported to be 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) |
|
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
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 PARTED BY (SALES TURNOVER)
|
Name : |
Mr. Sanjay Jalan |
|
Designation : |
Manager |
|
Contact No.: |
91-9871591795 |
|
Date : |
25.03.2013 |
LOCATIONS
|
Registered Office : |
C-8/8289, Vasant Kunj, New Delhi-110070, Delhi, India |
|
Tel No.: |
Not Available |
|
Mobile No.: |
91-9871591795 (Mr. Sanjay Jalan) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
|
|
|
|
|
Factory : |
Plot No.9, Mahila Udyami Park, Toy City Road, Greater Noida, (GB Nagar),
Noida, India |
|
Tel. No.: |
91-120-2350896/ 97/ 98 |
|
Fax No.: |
91-120-2350899 |
DIRECTORS
As On : 29.09.2012
|
Name : |
Mrs. Rashmi Kedia |
|
Designation : |
Director |
|
Address : |
C-8/8289, Vasant Kunj, New Delhi-110070, Delhi, India |
|
Date of Appointment : |
08.05.2001 |
|
DIN No : |
00105816 |
|
|
|
|
Name : |
Smt. Shakuntla Kedia |
|
Designation : |
Director |
|
Address : |
C-8/8289, Vasant Kunj, New Delhi-110070, Delhi, India |
|
Date of Appointment : |
10.05.2005 |
|
DIN No : |
01196038 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On : 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rashi Kedia |
|
620000 |
|
Alok Kedia |
|
630000 |
|
Techno Builders Private Limited, India |
|
30000 |
|
Om Prakash Kedia |
|
145000 |
|
Gopal Saraf (HUF) |
|
22500 |
|
Bimal Kumar Aggarwal |
|
60000 |
|
Lemcom Merchants Private Limited, India |
|
647500 |
|
Fern Projects Private Limited |
|
40000 |
|
UPPL Foams Private Limited |
|
40000 |
|
Total |
|
2235000 |
As On : 29.09.2012
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
33.89 |
|
Directors or relatives of directors |
|
62.42 |
|
Other top fifty shareholders |
|
3.69 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of plastic molding components and insulation
tapes. |
GENERAL INFORMATION
|
Bankers : |
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|||||||||||||||||||||||||||||||||||
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Facilities : |
Notes: Nature of Security
and Terms of repayment for Long Term Secured Borrowings:
Sub Notes: 1) Term Loan from HDFC Bank Limited is collaterally secured by three immovable properties detail of which is given here under :- i ) Mortgage of factory land and Building ii ) Residential flat of Director's relative iii) Personal guarantee of the Directors and their relatives 2) Installments falling due in respect of all the above loans upto 31.03.2013 have been grouped under "Current Maturities of Long Term Debts" Short Term Borrowings Cash Credit facility from HDFC Bank Limited is primarily secured against hypothecation of stock and book debts and equitable mortgage of factory land and building and residential flat of Director's relative and personal guarantee of the Directors and their relatives |
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|
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Banking
Relations : |
-- |
|
Auditors : |
|
|
Name : |
Wahi and Gupta Chartered Accountants |
|
Address : |
Hotel Rex Building, (OBC Building), 5, Netaji Subhash Marg, Daryaganj,
New Delhi-110002, Delhi, India |
|
PAN No: |
AAAFW1086A |
CAPITAL STRUCTURE
As On : 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2235000 |
Equity Shares |
Rs. 10/- each |
Rs. 22.350
millions |
|
|
|
|
|
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 |
22.350 |
22.350 |
22.350 |
|
|
2] Share Application Money |
4.650 |
5.475 |
5.475 |
|
|
3] Reserves & Surplus |
30.710 |
28.240 |
26.128 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
57.710 |
56.065 |
53.953 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24.144 |
26.277 |
24.238 |
|
|
2] Unsecured Loans |
77.219 |
82.390 |
72.742 |
|
|
TOTAL BORROWING |
101.363 |
108.667 |
96.980 |
|
|
DEFERRED TAX LIABILITIES |
2.766 |
3.083 |
2.439 |
|
|
|
|
|
|
|
|
TOTAL |
161.839 |
167.815 |
153.372 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
69.334 |
72.697 |
61.438 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.125 |
0.175 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
62.132
|
74.334
|
89.408
|
|
|
Sundry Debtors |
85.416
|
120.752
|
93.739
|
|
|
Cash & Bank Balances |
4.030
|
1.481
|
4.838
|
|
|
Other Current Assets |
4.909
|
0.971
|
0.000
|
|
|
Loans & Advances |
13.561
|
16.147
|
13.973
|
|
Total
Current Assets |
170.048
|
213.685
|
201.958
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
55.946
|
91.111
|
103.027
|
|
|
Other Current Liabilities |
19.867
|
25.109
|
5.192
|
|
|
Provisions |
1.855
|
2.522
|
1.872
|
|
Total
Current Liabilities |
77.668
|
118.742
|
110.091
|
|
|
Net Current Assets |
92.380
|
94.943
|
91.867
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.067 |
|
|
|
|
|
|
|
|
TOTAL |
161.839 |
167.815 |
153.372 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
350.000 |
397.682 |
391.413 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
3.449 |
3.010 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
1.20 |
1.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.06 |
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.76 |
1.94 |
1.80
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19 |
1.80 |
1.83
|
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 |
No |
|
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 two 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) |
No |
|
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 |
DETAILS OF
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
From Directors |
3.645 |
7.362 |
|
From Others |
73.574 |
75.028 |
|
Total |
77.219 |
82.390 |
CONTINGENT
LIABILITIES:
Contingent Liabilities not provided in respect of:
(a) Any demand that may be raised by Income tax authorities on completion of assessments.
(b) Any demand that may be raised by sales tax Authorities on Completion of pending assessments.
(c) Bank Guarantee.
(d) The Trade Tax Deptt. has raised the demand of VAT @ 8.5% (being the difference of 13.5% and 5%) on Foam items for the period Asstt. Year 2007-08 and April-June, Quarter. 2010 amounting to Rs.6.212 Millions against which the Company has deposited Rs.4.190 Millions and balance Rs.2.022 Millions is still payable. Further there is a contingent liability for the Asstt. Year 2009-10 and July 2010 to August, 2010, the amount whereof could not be determined. However it is recoverable from the parties to whom sales have been made but only a part of may be recovered. Further a Demand of Rs.2.583 Millions has been raised for Asstt. Year 2008-09 vide order dated 22.02.2012 which was not paid till 31.03.2012.
(e) A Commitment of Rs.1.752 Millions in favour of Jaypee Infratech for acquire of plot, which will paid after 31.03.2012.
FIXED ASSETS
- Factory Land
- Factory
Building
- Plant and
Machinery
- Generator
- Electrical
Installation
- Furniture and
Fixture
- Office
Equipments
- Computer
- Delivery Van
- Scooter
- Car
WEB SIDE DETAILS
PROFILE
Subject is
establish in Greater Noida in the state of U.P., on January 2003 as
manufacturer and processors of foam and Plastic Molded components for OEM’s. It
is certified as ISO 9001-2000 vide certificate no. 17533- QMS-2988 dt.9th
February, 2004.
Subject is a manufacturer
of plastic molding components and insulation tapes with and without adhesive,
as per the standards, specifications and drawings of the customer. Products
include PU, PE, XLPE, EVA, PSP, PVC, reticulated foams, HIPS, polyester,
aluminum sheets, EPDM, chloroprene, nitrile rubber, felt insulations,
combination components.
Market line is automobiles,
electronic, air conditioning and white good industries which has different
applications in insulation, heat and sound resistance, shock proofing, filtration,
packing gaskets, sealant and external packing for delicate goods.
The company has an advantage of
Goodwill of its Promoters and Group/Associate companies which are already in
the similar business for over a decade. It has a potential of more business
from existing customers who has a strong faith of commitment, service and
quality. There exists scope from industries who are importing these or similar
type of components from abroad at quite a high price. Perfect pack of EPE is
already started which has extra safety for delicate items, greater looks, and
an impression of quality for OEM manufacturers and for us good rates.
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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.