MIRA
INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ACG PHARMAPACK PRIVATE LIMITED (w.e.f. 11.01.2008) |
|
|
|
|
Formerly Known
As : |
PRIKARNA PROPERTIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1001, Dalamal House, 10th Floor, Nariman Point, Mumbai –
400 021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.12.2004 |
|
|
|
|
Com. Reg. No.: |
11-149770 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.85.463
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH2004PTC149770 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA11035D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA0550D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Blister Pack Films. |
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|
|
|
No. of Employees
: |
300 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 2717000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
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Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company seems to fair. Trade relations are reported as fair. Business is active. Payment
terms are usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced. The
defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Vivek Joshi |
|
Designation : |
Senior Accounts Manager |
|
Contact No.: |
91-9881904031 |
|
Date : |
26.03.2014 |
LOCATIONS
|
Registered Office/ Corporate Headquarters : |
1001, Dalamal House, 10th Floor, Nariman Point, Mumbai –
400 021, |
|
Tel. No.: |
91-22-22872557/ 30089444/ 45 |
|
Mobile No.: |
91-9881904031 (Mr. Vivek) |
|
Fax No.: |
91-22-22872560 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Shindewadi, Taluka Khandala, Shirwal, District Satara –
412 801, |
|
Tel. No.: |
91-2169-244001/ 305252 |
|
Fax No.: |
91-2169-244379/ 305218 |
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E-Mail : |
|
|
|
|
|
Sales/ Research Centre : |
Saitech Centre, 7, Prabhat Nagar, Patel Estate, Jogeshwari (West), Mumbai – 400 102, Maharashtra, India |
|
Tel No.: |
91-22-30462832/ 33/ 26780127/ 26791955/ 26789642 |
|
Fax No.: |
91-22-22872560/ 26783244 |
|
Email : |
DIRECTORS
AS ON 24.09.2013
|
Name : |
Mr. Ajit Daljit Singh |
|
Designation : |
Director |
|
Address : |
1-A, Brighton Rungata Lane, Nepeansea Road, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
20.11.1941 |
|
Qualification : |
M.A (CANTAB) and Post Graduate work at Harvard Business School, USA |
|
Date of Appointment : |
17.10.2012 |
|
DIN No.: |
00915347 |
|
PAN No.: |
AAIPS7652Q |
|
|
|
|
Name : |
Mr. Jasjit Daljit Singh |
|
Designation : |
Managing Director |
|
Address : |
2-B, Swapnalok, L.J. Marg. Nepeansea Road, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
03.04.1943 |
|
Qualification : |
B.E (Mechanical) |
|
Date of Appointment : |
01.11.2012 |
|
DIN No.: |
00901470 |
|
PAN No.: |
AAGPS7557Q |
|
|
|
|
Name : |
Mr. Sharad Shrikant Kulkarni |
|
Designation : |
Whole-time Director |
|
Address : |
SO 27B, Balwanti Darshan Bld, FL8, Manik Colony, Chinchwad, Pune – 411
033, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1960 |
|
Date of Appointment : |
01.11.2012 |
|
DIN No.: |
06404312 |
|
PAN No.: |
ABOPK3665Q |
|
|
|
|
Name : |
Mr. Karan Jasjit Singh |
|
Designation : |
Additional Director |
|
Address : |
2-B, Swapnalok, L.J. Marg. Nepeansea Road, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
23.07.1979 |
|
Date of Appointment : |
01.11.2012 |
|
DIN No.: |
00901342 |
|
PAN No.: |
AAIPS0968B |
KEY EXECUTIVES
|
Name : |
Mr. Dilip Ganpat Nagool |
|
Designation : |
Secretary |
|
Address : |
A-302, Center Point, Thane – 400 602, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1956 |
|
Date of Appointment : |
21.05.2008 |
|
PAN No : |
AAAPM1770C |
|
|
|
|
Name : |
Mr. Vivek Joshi |
|
Designation : |
Senior Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 24.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Associated Capsules Private Limited, |
|
4900 |
|
Ajit Singh Nominee of Associated Capsules Private Limited,
|
|
100 |
|
Associated Capsules Private Limited, |
|
4900 |
|
Jasjit Singh Nominee of Associated Capsules Private
Limited, |
|
100 |
|
Jasjit Singh HUF |
|
12765 |
|
Kavita Jasjit Singh |
|
3780 |
|
Nandini Jasjit Singh |
|
1980 |
|
Singh Family Trust |
|
180 |
|
Sardar Daljit Singh HUF |
|
5580 |
|
MNT Will Trust, India |
|
180 |
|
Priya Jasjit Singh |
|
1980 |
|
Karan Jasjit Singh |
|
1980 |
|
Jasjit Daljit Singh |
|
228733 |
|
Ajit Daljit Singh |
|
251398 |
|
Packshield India Private Limited, |
|
539720 |
|
Total |
|
1058276 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
AE Advisors Private Limited, |
|
7488000 |
|
Total |
|
7488000 |
AS ON 24.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
51.94 |
|
Directors
or relatives of directors |
|
48.06 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Blister Pack Films. |
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Products : |
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Exports : |
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Products : |
·
Blister Pack Films |
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Countries : |
·
Brazil ·
Latin America ·
Colombia ·
USA ·
Argentina, etc. |
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Imports : |
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Products : |
·
Raw Materials |
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Countries : |
·
Germany ·
USA ·
Korea ·
Japan |
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Terms : |
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Selling : |
Credit and DA |
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Purchasing : |
Credit and DA |
GENERAL INFORMATION
|
Suppliers : |
·
Reliance Industries
Limited, Hazira ·
Finecure Pharmaceuticals Limited,
Mumbai |
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Customers : |
·
IPCA Pharmaceuticals ·
Cipla |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
· Standard Chartered Bank, Crescenzo, 3A/F, Plot No.C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400 051, Maharashtra, India · Standard Chartered Bank, 90, M.G. Road, Fort, Mumbai – 400 001, Maharashtra, India · HDFC Bank Limited, 4th Floor, Millennium Towers, Bhandarkar Road, Pune – 411 004, Maharashtra, India ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Contractor Nayak and Kishnadwala Chartered Accountants |
|
Address : |
5th Floor, Narain, Chambers, M.G. Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India |
|
PAN No.: |
AACFC8587E |
|
|
|
|
Holding Company: |
Packshield India Private
Limited, India (CIN No.: U28129MH2003PTC139916) |
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|
|
|
Jointly Controlled Entities: |
·
ACG Hongkong Limited ·
ACG North America LLC, United States |
|
|
|
|
Companies, firms and other entities in which directors along with
their relatives are able to exercise significant influence: |
COMPANIES ·
ACG Arts and Properties Private Limited ·
ACG Associated Capsules Private Limited ·
Orind Estates Private Limited ·
Adhikar Trading Co Limited ·
ACG Metal Crafts Private Limited ·
Jeet Merchantile Private Limited ·
Evita Estates Private Limited ·
ACG Ajas Components Private Limited ·
ACG Inspection Systems Private Limited ·
Custom Capsules Private Limited ·
ACG Pam Glatt Pharma Technologies Private Limited ·
ACG Pampac Machines Private Limited, India (CIN No.: U27299MH1987PTC044041) ·
ACG Pam Pharma Technologies Private Limited ·
ACG Real Estate Private Limited (formerly Trambak Developers Private
Limited) ·
Pam Intech Machines Private Limited ·
EH Advisors and Consultants Private Limited ·
AE Advisors Private Limited OVERSEAS ENTITIES ·
PT. Universal Capsules Indonesia INC ·
First Ventures Limited, Dubai Proprietor AS ·
Transworld Investments Limited, Dubai Proprietor JS ·
ACG Europe Limited ·
ACG Holding B.V, Netherlands ·
Lukaps d.o.o, Croatia ·
ACG DO Brazil Representacoes Commercials S/A ·
ACG Associated Capsules Philippines Inc. FIRMS ·
Aries Components Mfg and Co ·
Centercorp LIMITED LIABILITY PARTNERSHIP ·
ACG Value Links LLP ·
Napean Holdings Reality LLP |
CAPITAL STRUCTURE
AS ON 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 millions |
|
9500000 |
Preference Shares |
Rs.10/- each |
Rs.95.000 millions |
|
|
Total
|
|
Rs.110.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1058276 |
Equity Shares |
Rs.10/- each |
Rs.10.583
millions |
|
7488000 |
Preference Shares |
Rs.10/- each |
Rs.74.880
millions |
|
|
Total |
|
Rs.85.463 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 |
85.463 |
85.463 |
104.184 |
|
(b) Reserves & Surplus |
593.816 |
554.748 |
545.021 |
|
(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) |
679.279 |
640.211 |
649.205 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
95.644 |
121.815 |
148.378 |
|
(b) Deferred tax liabilities (Net) |
38.160 |
16.488 |
11.178 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
6.160 |
7.714 |
6.975 |
|
Total Non-current Liabilities (3) |
139.964 |
146.017 |
166.531 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
303.989 |
358.070 |
245.339 |
|
(b) Trade payables |
246.623 |
146.753 |
80.467 |
|
(c) Other current
liabilities |
61.881 |
60.659 |
56.542 |
|
(d) Short-term provisions |
46.988 |
10.714 |
53.131 |
|
Total Current Liabilities (4) |
659.481 |
576.196 |
435.479 |
|
|
|
|
|
|
TOTAL |
1478.724 |
1362.424 |
1251.215 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
468.644 |
499.985 |
513.039 |
|
(ii) Intangible Assets |
1.443 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
2.410 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.799 |
1.299 |
1.299 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
31.503 |
20.055 |
7.160 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
504.389 |
523.749 |
521.498 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
274.999 |
283.456 |
201.276 |
|
(c) Trade receivables |
639.301 |
454.033 |
423.464 |
|
(d) Cash and cash
equivalents |
3.169 |
2.053 |
2.355 |
|
(e) Short-term loans and
advances |
52.708 |
94.696 |
98.039 |
|
(f) Other current assets |
4.158 |
4.437 |
4.583 |
|
Total Current Assets |
974.335 |
838.675 |
729.717 |
|
|
|
|
|
|
TOTAL |
1478.724 |
1362.424 |
1251.215 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
NET TURNOVER |
2385.800 |
1924.000 |
1588.700 |
|
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
NA |
NA
|
NA |
|
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
158.800 |
92.000 |
109.800 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST COST |
38.400 |
29.400 |
27.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
120.400 |
62.600 |
82.200 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
50.500 |
47.600 |
45.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
69.900 |
15.000 |
37.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
22.200 |
5.300 |
6.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
47.700 |
9.700 |
30.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
18.500 |
8.800 |
20.600 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
10.000 |
0.000 |
3.100 |
|
|
|
Dividend on Preference Shares |
13.100 |
0.000 |
39.200 |
|
|
BALANCE CARRIED
TO THE B/S |
43.100 |
18.500 |
8.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
846.900 |
596.300 |
417.300 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
32.70 |
9.19 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.74
|
1.10
|
2.97
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.02
|
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.59
|
0.75
|
0.61
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48
|
1.46
|
1.68
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
104.184 |
85.463 |
85.463 |
|
Reserves & Surplus |
545.021 |
554.748 |
593.816 |
|
Net worth |
649.205 |
640.211 |
679.279 |
|
|
|
|
|
|
Long-term borrowings |
148.378 |
121.815 |
95.644 |
|
Short term borrowings |
245.339 |
358.070 |
303.989 |
|
Total borrowings |
393.717 |
479.885 |
399.633 |
|
Debt/Equity ratio |
0.606 |
0.750 |
0.588 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Net
Turnover |
1588.700 |
1924.000 |
2385.800 |
|
|
|
21.105 |
24.002 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Net
Turnover |
1588.700 |
1924.000 |
2385.800 |
|
Profit |
30.500 |
9.700 |
47.700 |
|
|
1.92% |
0.50% |
2.00% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long term debt:
|
Particulars |
31.03.2013 (Rs.
in millions) |
31.03.2012 (Rs.
in millions) |
31.03.2011 (Rs.
in millions) |
|
Current
maturities of long term debt |
0.000 |
26.565 |
22.266 |
|
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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10200491 |
24/06/2011 * |
380,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B18421784 |
|
2 |
10123785 |
15/11/2011 * |
530,000,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO, 3A/F, PLOT
NO.C-38 AND 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI,
MAHARASHTRA - 400051, INDIA |
B28403335 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred sales tax loan (Repayment commences from
April 2016) |
95.644 |
95.644 |
|
Total
|
95.644 |
95.644 |
COMPANY OVERVIEW:
Subject, a member of ACG Worldwide,
provides a complete range of high quality barrier-packaging films for the
pharmaceutical, medical-device, personal care and food packaging sectors. The
company is unique in that it manufactures calendared PVC film, PETG, Barex,
PVdC coats and produces PVC/Aclar and other complex laminates all under one
roof.
PERFORMANCE:
The Company recorded a net
turnover of Rs.2385.800 millions for 2012-13 registering a growth of 24% over
previous year. The performance is attributable to its thrust on new markets,
international business, innovative products and improved operational
efficiency.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Open letters of Credit as
at 31.03.2013 issued in favour of vendors to the extent materials not
received till the year end. |
115.626 |
92.234 |
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Machinery
· Data Processing Equipments
· Vehicles
· Furniture and Fixtures
·
Office Equipments
Intangible Assets
·
Computer Software
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.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
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 |
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 |
NO |
|
--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.