MIRA
INFORM REPORT
|
Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CLEAR MIPAK PACKAGING SOLUTIONS LIMITED (w.e.f. 01.06.2010) |
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Formerly Known
As : |
CLEAR PLASTICS LIMITED (w.e.f. 16.09.2003) CLEAR PLASTICS PRIVATE LIMITED |
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Registered
Office : |
Unit No.2013, 2nd Floor, Welspun House, Kamala City, Senapati
Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
15.01.1986 |
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Com. Reg. No.: |
11-038626 |
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Capital Investment
/ Paid-up Capital : |
Rs.44.717 Millions |
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CIN No.: [Company Identification
No.] |
U25202MH1986PLC038626 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC12227F |
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PAN No.: [Permanent Account No.] |
AAACC4489N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and exporter of rigid plastic containers and plastic
bottles. |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s improved operational performance
which resulting into fair profitability achieved during financial year 2013
and sound liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be 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.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real
estate outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Vaibhav Jadhav |
|
Designation : |
Admin Department |
|
Contact No.: |
91-22-40016500 |
|
Date : |
06.08.2014 |
LOCATIONS
|
Registered Office : |
Unit No.2013, 2nd Floor, Welspun House, Kamala City,
Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-40016500 / 42236252 |
|
Fax No.: |
91-22-28574665 |
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E-Mail : |
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Factory 1 (Unit MP) : |
A-1/912-913, GIDC, Umergaon, District Valsad – 396171, Gujarat, India |
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Factory 2 (Unit - Dadra) |
Survey No.259 /21/1, Demini Road, Arihant Indutrial Estate, Dadra –
396230, Silvasa, Union Territory, India
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Factory 3 (Unit I and II Naroli) : |
709/3/1/1, Vadfalia Bhilad Naroli Road, Naroli – 396235, Union
Territory, India |
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Factory 4 (Unit Sarigam - PPMF) : |
4615 / 4616 Plastic Zone No.46, Manda Village, GIDC, Sarigam – 396155,
India |
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Factory 5 (Unit PK) : |
Plot No.6-10, OIDC, Udyog Nagar Industrial Estate, Village Ringwada,
Daman – 396210, Silvasa, Union Territory, India |
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Factory 6 (Unit I & II Himachal Pradesh) : |
Khasra No.544/151, Village Dhana, Tehsil Malagarh, District Solan –
174101, Himachal Pradesh, India |
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Factory 7 (Unit Sitarganj, Uttarakhand) : |
Plot No.D-63, Phase II, Eldeco Sidcul Industrial Park, Sitarganj,
Uttarakhand, India |
DIRECTORS
AS ON 13.09.2013
|
Name : |
Mr. Rameshchandra Shantilal Gandhi |
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Designation : |
Director |
|
Address : |
Amee, Near Vinayak Society, Behind Akota Sadium, Opposite Sanskruti
Apartment, Vadodara – 390020, Gujarat, India |
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Date of Birth/Age : |
18.06.1929 |
|
Date of Appointment : |
08.01.2005 |
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DIN No.: |
00199192 |
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Name : |
Mr. Mahdendra Chottalal Sheth |
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Designation : |
Director |
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Address : |
51, Shivtirath No.1, 4/6, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra,
India |
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Date of Birth/Age : |
22.12.1948 |
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Date of Appointment : |
16.04.2003 |
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DIN No.: |
00056975 |
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Name : |
Mr. Jatin Ramesh Shah |
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Designation : |
Director |
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Address : |
5/17, Dhanvantari Bhuvan, 143/B, August Kranti Road, Mumbai – 400036,
Maharashtra, India |
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Date of Birth/Age : |
22.05.1965 |
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Date of Appointment : |
26.06.2010 |
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DIN No.: |
00032475 |
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Name : |
Mr. Ashwin Ratilal Nagarwadia |
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Designation : |
Director |
|
Address : |
Bharty Nivas Society, Ellis Bridge, Ahmedabad – 380006, Gujarat, India
|
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Date of Birth/Age : |
20.09.1937 |
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Date of Appointment : |
02.11.2012 |
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DIN No.: |
00466681 |
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|
Name : |
Mr. Malav Ashwin Dani |
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Designation : |
Director |
|
Address : |
Home Vila, 48 Krishna Sanghi Path, Gamdevi, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
25.11.1975 |
|
Date of Appointment : |
04.02.2012 |
|
DIN No.: |
01184336 |
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Name : |
Mr. Satish Balkrishna Samant |
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Designation : |
Director |
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Address : |
Flat No.1406, 14th Floor, B-Tower, Oberoi Woods, Mohan
Gokhale Marg, Off Western Express Highway, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
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Date of Birth/Age : |
15.01.1952 |
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Date of Appointment : |
04.02.2012 |
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DIN No.: |
03301575 |
KEY EXECUTIVES
|
Name : |
Mr. Vaibhav Jadhav |
|
Designation : |
Admin Department |
MAJOR SHAREHOLDERS
AS ON 13.09.2013
|
Names of Shareholders |
No. of Shares |
|
Hitech Plast Limited, India |
1939016 |
|
Hitech Plast Limited, India |
743992 |
|
Ashwin S Dani (Nominee of Hitech Plast Limited, India) |
1 |
|
Jalaj A Dani (Nominee of Hitech Plast Limited, India) |
1 |
|
Hasit A Dani (Nominee of Hitech Plast Limited, India) |
1 |
|
Ina A Dani (Nominee of Hitech Plast Limited, India) |
1 |
|
Vita J Dani (Nominee of Hitech Plast Limited, India) |
1 |
|
Bhupendra P Dusara (Nominee of Hitech Plast Limited, India) |
2 |
|
Ramesh C Shah (Nominee of Hitech Plast Limited, India) |
2 |
|
Geetanjali Trading and Investment Private Limited, India |
1725014 |
|
Coatings Specialities (India) Limited, India |
63666 |
|
Jatin R Shah (Nominee of Hitech Plast Limited, India) |
1 |
|
Mr. Malav A. Dani (Nominee of Hitech Plast Limited, India) |
2 |
|
|
|
|
Total |
4471700 |
Equity Share Break up (Percentage of Total Equity)
AS ON 13.09.2013
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter of rigid plastic containers and plastic
bottles. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
South East Asia ·
Dubai |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON: 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Containers |
|
|
|
|
In-House |
MT |
11568 |
8708 |
|
Contract |
-- |
-- |
866 |
Notes:
1.
Installed capacities are as certified by the management
on which auditors have relied.
2.
All manufacturing units
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
Information denied by the management |
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Bankers : |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227/D, Nariman
Point, Mumbai – 400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Shah and Company Chartered Accountants |
|
Address : |
Maker Bhavan, No.2 3rd Floor, 18, New Marine Lines, Mumbai
- 400020, Maharashtra, India |
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Tel. No.: |
91-22-66333558 / 59 / 60 |
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Fax No.: |
91-22-66333561 / 22037935 |
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E-Mail : |
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PAN No. : |
AABFS2985F |
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Holding
company : |
Hitech Plast Limited |
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Ultimate
Holding company : |
Geetanjali Trading And Investments Private Limited |
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Fellow
Subsidiary company : |
Coatings Specialities (India) Limited |
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|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
Asian Paints Limited |
CAPITAL STRUCTURE
AS ON 13.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
|
500000 |
Number of Unclassified Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 95.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4471700 |
Equity Shares |
Rs.10/- each |
Rs.44.717 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
44.717 |
44.717 |
44.717 |
|
(b) Reserves & Surplus |
684.926 |
651.336 |
654.104 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
729.643 |
696.053 |
698.821 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
61.491 |
109.112 |
48.955 |
|
(b) Deferred tax liabilities (Net) |
24.016 |
27.133 |
30.499 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
3.109 |
2.513 |
1.162 |
|
Total Non-current Liabilities (3) |
88.616 |
138.758 |
80.616 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
254.589 |
318.454 |
234.161 |
|
(b) Trade payables |
83.670 |
73.364 |
100.627 |
|
(c) Other current
liabilities |
86.770 |
92.574 |
120.524 |
|
(d) Short-term provisions |
9.163 |
8.819 |
1.526 |
|
Total Current Liabilities (4) |
434.192 |
493.211 |
456.838 |
|
|
|
|
|
|
TOTAL |
1252.451 |
1328.022 |
1236.275 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
616.444 |
677.916 |
538.619 |
|
(ii) Intangible Assets |
0.181 |
0.313 |
0.421 |
|
(iii) Capital
work-in-progress |
7.897 |
8.630 |
54.640 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
1.100 |
1.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.184 |
30.764 |
30.960 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
640.706 |
718.723 |
625.740 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
137.519 |
192.330 |
215.308 |
|
(c) Trade receivables |
364.353 |
334.769 |
308.280 |
|
(d) Cash and cash
equivalents |
41.358 |
18.067 |
33.441 |
|
(e) Short-term loans
and advances |
61.231 |
56.732 |
48.264 |
|
(f) Other current
assets |
7.284 |
7.401 |
5.242 |
|
Total Current Assets |
611.745 |
609.299 |
610.535 |
|
|
|
|
|
|
TOTAL |
1252.451 |
1328.022 |
1236.275 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
1836.457 |
1547.451 |
1414.655 |
|
|
|
|
Other Income |
16.688 |
9.233 |
9.484 |
|
|
|
|
TOTAL (A) |
1853.145 |
1556.684 |
1424.139 |
|
|
|
|
|
|
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||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
1188.588 |
1007.365 |
911.35 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
26.364 |
(9.160) |
(16.459) |
|
|
|
|
Employee Benefits Expenses |
97.279 |
99.876 |
77.798 |
|
|
|
|
Other Expenses |
353.688 |
319.284 |
283.062 |
|
|
|
|
Exceptional Expenses |
0.000 |
2.197 |
0.000 |
|
|
|
|
TOTAL (B) |
1665.919 |
1419.562 |
1255.751 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
187.226 |
137.122 |
168.388 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
53.988 |
58.387 |
36.404 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
133.238 |
78.735 |
131.984 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/ AMORTISATION (F) |
91.905 |
85.874 |
68.951 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
41.333 |
(7.139) |
63.033 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
7.743 |
(1.371) |
20.316 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
33.590 |
(5.768) |
42.717 |
||
|
|
|
|
|
|
||
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB Value of Exports |
95.850 |
49.372 |
13.218 |
|
|
|
TOTAL EARNINGS |
95.850 |
49.372 |
13.218 |
||
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|
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||
|
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IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
99.300 |
102.967 |
112.145 |
|
|
|
|
Capital Goods |
0.199 |
28.887 |
34.691 |
|
|
|
TOTAL IMPORTS |
99.499 |
131.854 |
146.836 |
||
|
|
|
|
|
|
||
|
|
Earnings/(Loss)
Per Share (Rs.) |
7.51 |
(1.29) |
10.19 |
||
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1800.000 |
|
|
|
|
[Due to market
fluctuation] |
The above information has been parted by Mr. Vaibhav Jadhav (Admin
Department)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.81 |
(0.37) |
3.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.25 |
(0.46) |
4.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.32 |
(0.54) |
5.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
(0.01) |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.43 |
0.61 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.24 |
1.34 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
44.717 |
44.717 |
44.717 |
|
Reserves & Surplus |
654.104 |
651.336 |
684.926 |
|
Net
worth |
698.821 |
696.053 |
729.643 |
|
|
|
|
|
|
long-term borrowings |
48.955 |
109.112 |
61.491 |
|
Short term borrowings |
234.161 |
318.454 |
254.589 |
|
Total
borrowings |
283.116 |
427.566 |
316.080 |
|
Debt/Equity
ratio |
0.405 |
0.614 |
0.433 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
1,414.655 |
1,547.451 |
1,836.457 |
|
|
|
9.387 |
18.676 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
1,414.655 |
1,547.451 |
1,836.457 |
|
Profit |
42.717 |
(5.768) |
33.590 |
|
|
3.02% |
(0.37%) |
1.83% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
46.154 |
41.544 |
57.905 |
|
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
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 |
Yes |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Deposits from
others |
7.645 |
9.112 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Loans repayable
on demand from banks |
129.589 |
218.454 |
|
|
|
|
|
Total |
137.234 |
227.566 |
LITIGATION
DETAILS:
|
HIGH
COURT OF BOMBAY
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OPERATIONS:
During the year,
Subject sales increased by 18.7% to Rs.1836.500 Millions as compared to
Rs.1547.500 Millions during the previous year. The operating profit, PBIDT
increased by 34% to Rs.187.200 Millions as compared to Rs. 1,393 lacs for the
previous year. The net profit before tax is Rs.41.300 Millions as compared to a
loss of Rs.4.900 Millions in the previous year. The after tax profit is
Rs.33.600 Millions. The improvement in the profit was because of better sales
realization and increase in export sales.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10114047 |
21/02/2012
* |
430,500,000.00 |
KOTAK
MAHINDRA BANK LIMITED |
36-38A,
NARIMAN BHAVAN, 227,D,, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B37176971 |
|
2 |
10062340 |
16/07/2010
* |
305,500,000.00 |
KOTAK
MAHINDRA BANK LIMITED |
36-38A,
NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A91837435 |
|
3 |
80014528 |
25/01/2012
* |
760,000,000.00 |
KOTAK
MAHINDRA BANK LIMITED |
36-38A,
NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
B34398735 |
|
4 |
80003358 |
05/02/2009
* |
181,500,000.00 |
KOTAK
MAHINDRA BANK LIMITED |
36-38A,
NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A56952765 |
*Date of modification Charges
FIXED ASSETS:
·
Freehold Land
·
Leasehold Land
·
Building
·
Moulds
·
Plant and Machinery
·
Furniture
·
Computer
·
Office Equipments
·
Vehicles
·
Computer Software
·
Patent
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.61.34 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.81.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.