MIRA
INFORM REPORT
|
Report Date : |
03.05.2013 |
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Tel. No.: |
91 22 25907080 |
IDENTIFICATION DETAILS
|
Name : |
KRIS FLEXIPACKS PRIVATE LIMITED (w.e.f. 31.07.2007) |
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Formerly Known
As : |
NIKITA PLAST INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
65, Shanti Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
06.03.2007 |
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Com. Reg. No.: |
11-168369 |
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Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U25209MH2007PTC168369 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN14534C |
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PAN No.: [Permanent Account No.] |
AACCN4672Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is
engaged in the manufacturing and selling of high quality of Packaging
Products like Shrink Sleeves, Laminates, Polly Rolls, Garment Bags, Pick up Bags
and Digital Printed Products. |
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|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2841000 |
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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 satisfactory track record.
There appears some dip in the profits earned during 2012. However, financial position of the company appears to be good. Trade
relations are reported as decent. Business is active. Payments are reported
to be usually correct and as per commitment. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities (Non-fund based)
A3+ |
|
Rating Explanation |
Moderate degree of safety it carry higher
credit risk. |
|
Date |
18.10.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities (Fund Based) BBB+ |
|
Rating Explanation |
Moderate degree of safety it carry moderate
credit risk. |
|
Date |
18.10.2012 |
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
Management non-cooperative
(91-22-30948000)
LOCATIONS
|
Registered Office : |
65, Shanti Industrial Estate, |
|
Tel. No.: |
91-22-67742222/ 25907080 |
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Fax No.: |
91-22-67742222/ 67742399/ 67973894 |
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E-Mail : |
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Website : |
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Location : |
Owned (They have 6 to 7 Galas in same premises) |
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Head Office : |
Plot No.A-39, Road No.11, Wagle Industrial Estate, Thane (West), Thane
- 400 604, Maharashtra, India |
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Tel. No.: |
91-22-30948000 |
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Fax No.: |
91-22-30948080 |
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E-Mail : |
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Factory : |
Located at: v
v
v
Himachal Pradesh |
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Branch Office : |
101, Alpha, |
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Sales Office : |
Located at: v Noida v Bangalore v Tirupur v Sri Lanka |
DIRECTORS
As on 01.09.2012
|
Name : |
Mr. Shailesh Gulabchand Sheth |
|
Designation : |
Managing Director |
|
Address : |
1002, |
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Date of Birth/Age : |
12.01.1960 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
PAN No.: |
AAYPS5920R |
|
00206159 |
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|
|
|
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Name : |
Mr. Peranamallur Narayanaswamy Devrajan |
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Designation : |
Director |
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Address : |
A-1, Ground Floor, Nav Munjal Nagar-2, Chembur, Mumbai – 400 089, |
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Date of Birth/Age : |
15.02.1935 |
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Date of Appointment : |
23.07.2011 |
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DIN No.: |
00003842 |
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|
|
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Name : |
Mr. Govindaraghavan Venkatraman |
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Designation : |
Director |
|
Address : |
Flat No.171/172, 17th Floor, Kalpataru Residency, |
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Date of Birth/Age : |
16.07.1945 |
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Date of Appointment : |
23.07.2011 |
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DIN No.: |
00008683 |
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|
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Name : |
Mr. Viresh Gulabchand Sheth |
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Designation : |
Director |
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Address : |
1002, |
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Date of Birth/Age : |
28.08.1964 |
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Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
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PAN No.: |
AAYPS5919A |
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DIN No.: |
00217977 |
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|
|
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Name : |
Mr. Rajesh Gulabchand Sheth |
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Designation : |
Director |
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Address : |
1002, |
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Date of Birth/Age : |
23.10.1961 |
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Qualification : |
B.Com |
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Date of Appointment : |
06.03.2007 |
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PAN No.: |
AAZPS8968A |
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DIN No.: |
00223733 |
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|
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Name : |
Mr. Ravi Chaturvedi |
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Designation : |
Director |
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Address : |
750, |
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Date of Birth/Age : |
14.11.1959 |
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Date of Appointment : |
23.07.2011 |
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DIN No.: |
02787181 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shailesh Gulabchand Sheth |
|
2700144 |
|
Rajesh Gulabchand Sheth |
|
1349972 |
|
Viresh Gulabchand Sheth |
|
1349972 |
|
Packaging Destinations Private Limited, |
|
1599970 |
|
Packaging Flexi Business Private Limited, |
|
699988 |
|
Packaging Properties Private Limited, |
|
699988 |
|
Varsha Shailesh Sheth |
|
799982 |
|
Aarti Rajesh Sheth |
|
399992 |
|
Tina Viresh Sheth |
|
399992 |
|
Total
|
|
10000000 |
As on 01.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
30.00 |
|
Directors
or relatives of directors |
|
70.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the manufacturing and selling of high quality of Packaging Products
like Shrink Sleeves, Laminates, Polly Rolls, Garment Bags, Pick up Bags and
Digital Printed Products. |
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Products : |
v
Shrink Sleeves v Garment
Poly Bags v Industrial Poly
Bags v Retail Bags v Plastic Hangers v Wooden Hangers v Metal Hangers v Laminates v LD Shrink v Wrap-around Labels v Combi Pack v Shrink Tunnel v Moulded Products v Soft and Rigid PP/PVC Boxes
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
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Bankers : |
v
The Saraswat Co-operative Bank Limited, v
The Saraswat Co-Operative Bank Limited, Mulund
Branch, Mulund, Mumbai – 400 080, v
IDBI Bank Limited, v
The Saraswat Co-Operative Bank Limited, SME
Vikhroli Branch, Prabhat Bhavan, LBS Marg, Vikhroli (West), Mumbai – 400 079,
Maharashtra, India v
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K.A. Gandhi and Associates Chartered Accountants |
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Address : |
14-B, Vaibhav, 1st Floor, Corner of |
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Tel. No.: |
91-22-25675205/ 25686061 |
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Fax No.: |
91-22-25686061 |
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Income-tax
PAN of auditor or auditor's firm : |
AAJFK1030F |
CAPITAL STRUCTURE
As on 01.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
5000000 |
Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
Total
|
|
Rs.150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
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|
|
|
|
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 |
100.000 |
100.000 |
100.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
610.149 |
575.874 |
452.602 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
710.149 |
675.874 |
552.602 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
775.576 |
709.104 |
775.011 |
|
|
2] Unsecured Loans |
50.051 |
67.189 |
80.130 |
|
|
TOTAL BORROWING |
825.627 |
776.293 |
855.141 |
|
|
DEFERRED TAX LIABILITIES |
33.201 |
24.980 |
17.623 |
|
|
|
|
|
|
|
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TOTAL |
1568.977 |
1477.147 |
1425.366 |
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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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|
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FIXED ASSETS [Net Block] |
675.984 |
686.740 |
670.553 |
|
|
Capital work-in-progress |
0.000 |
6.384 |
6.435 |
|
|
|
|
|
|
|
|
INVESTMENT |
12.474 |
7.473 |
69.082 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
386.440
|
309.878
|
249.068
|
|
|
Sundry Debtors |
665.691
|
567.836
|
536.667
|
|
|
Cash & Bank Balances |
16.826
|
23.821
|
14.761
|
|
|
Other Current Assets |
54.795
|
55.652
|
0.000
|
|
|
Loans & Advances |
168.684
|
161.571
|
86.576
|
|
Total
Current Assets |
1292.436
|
1118.758
|
887.072
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
217.588
|
136.908
|
179.284
|
|
|
Other Current Liabilities |
188.778
|
200.151
|
25.680
|
|
|
Provisions |
5.551
|
5.149
|
2.812
|
|
Total
Current Liabilities |
411.917
|
342.208
|
207.776 |
|
|
Net Current Assets |
880.519
|
776.550
|
679.296
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1568.977 |
1477.147 |
1425.366 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Turnover |
NA |
|
2043.182 |
|
|
|
Other Income |
NA |
|
6.552 |
|
|
|
Accretion/ Decretion in stock |
NA |
|
6.066 |
|
|
|
TOTAL (A) |
NA |
2401.500 |
2055.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
|
1458.873 |
|
|
|
Manufacturing Expenses |
|
|
64.574 |
|
|
|
Staff Cost |
|
|
83.295 |
|
|
|
Other Expenses |
|
|
89.348 |
|
|
|
Selling Expenses |
|
|
69.869 |
|
|
|
TOTAL (B) |
NA |
2095.900 |
1765.959 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
305.600 |
289.841 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
73.600 |
91.654 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
232.000 |
198.187 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
56.100 |
50.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
175.900 |
147.197 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
41.000 |
27.768 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
35.224 |
134.900 |
119.429 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
423.600 |
300.400 |
180.944 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on Equity Shares |
NA |
10.000 |
0.000 |
|
|
|
Corporate Tax on Dividend |
NA |
1.700 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
423.600 |
300.373 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
71.641 |
60.412 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
378.199 |
|
|
|
Capital Goods |
NA |
NA |
14.101 |
|
|
TOTAL IMPORTS |
NA |
NA |
392.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
3.52 |
13.49 |
11.94 |
|
|
|
- Diluted |
NA |
8.99 |
7.96 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total
Income |
(%) |
NA
|
5.62
|
5.81
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
7.20
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
9.74
|
9.45
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.26
|
0.27
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.16 |
1.15
|
1.55
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.14 |
3.27
|
4.27
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
217.588
|
136.908
|
179.284
|
|
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 |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last two 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) |
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fully convertible debentures others |
50.000 |
50.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
0.051 |
17.189 |
|
Total
|
50.051 |
67.189 |
CORPORATE INFORMATION:
The Company is a
private company domiciled in
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U25209MH2007PTC168369 |
|
Name of the
company |
KRIS FLEXIPACKS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
65, Shanti Industrial Estate, E-Mail: kris.legal@krisflexipacks.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property (not
being pledge) |
|
Particular of
charge holder |
The Saraswat Co-Operative Bank Limited, SME Vikhroli Branch, Prabhat
Bhavan, LBS Marg, Vikhroli (West), Mumbai – 400 079, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation of Movable Property |
|
Date of
instrument Creating the charge |
22.03.2012 |
|
Amount secured by
the charge |
Rs.30.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest 12.25% p.a. or at such rate as maybe determined by the bank from time
to time Terms of
Repayment On demand or by
22.03.2017 if the same is not demanded earlier Margin 20% Extent and
Operation of the charge This is term loan
facility |
|
Short particulars
of the property charged |
Hypothecation of
Machinery tangible movable property (both present and future) belonging to
the borrower and lying and being at borrower place of business at 64-65,
Shanti Industrial Estate, S.N. Road, Mulund (West), Mumbai – 400 080 or
wherever else the same maybe determined by the bank from time to time. |
FIXED ASSETS:
Tangible Assets
v
v
v Buildings
v Factory Equipments
v Plant and Machinery
v Office Equipments
v Vehicles (including Motor Car)
v Furniture and Fitting
v Computer
v Electrical Fittings
v Dies and Mould
Intangible Assets
v Software–ERP
v Trade Mark
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.53.74 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.