MIRA
INFORM REPORT
|
Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PARKSONS PACKAGING LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 2, Survey No. 11 and 13, Ringanwada, Nani Daman, Daman –
396210, U.T., Daman and Diu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.04.1996 |
|
|
|
|
Com. Reg. No.: |
56-003450 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 126.757 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21029DD1996PLC003450 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP17332A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP6598E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter, Importer of Printed Paper Board Cartons. |
|
|
|
|
No. of
Employees: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6120000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and largest independent folding carton
solutions provider in India having fine track. The company possesses a healthy financial profile marked by decent networth,
low gearing and strong debt protection metrics. Management has witnessed a growth in its sales volume as well as net
profitability during 2013. The ratings also takes into consideration the susceptibility of
profitability to volatility in raw material prices and foreign exchange
fluctuations. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of established position and reputed client base, the subject
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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
11.12.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
11.12.2013 |
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 DENIED
Management Non Co-operative
Contact No.: 91-22-66667200
LOCATIONS
|
Registered Office / Factory 1 : |
Unit No. 2, Survey No. 11 and 13, Ringanwada, Nani Daman, Daman –
396210, U.T., Daman and Diu |
|
Tel. No.: |
91-260-2240762 / 63, 2243761 / 63 |
|
Fax No.: |
91-260-2243340 / 2240762 |
|
E-Mail : |
parksons@daman.parksonspackaging.com parksons@parksonspackaging.com |
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office 1 : |
41/B, Lalbaug Industrial Estate, Dr. Ambedkar Road, Lalbaug, Mumbai –
400012, Maharashtra, India |
|
Tel. No.: |
91-22-66667200 / 66635200 / 24700545 / 24716401 / 02 |
|
Fax No.: |
91-22-66667201 / 66635201 |
|
|
|
|
Factory 2 : |
Gat 357-77, 79, 81, Chakan Talegaon Road, Kharabwadi, Tal Khed, Pune -
410501, Maharashtra, India |
|
Tel. No.: |
91-2135-668600 |
|
Fax No.: |
91-2135-668650 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
Corporate
Office 2 :
|
701/702 Indiabulls Finance Centre,
Tower 1, 7th Floor, Senapati Bapat Marg, Elphinston Road (West), Mumbai – 400
013, Maharashtra,
India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ramesh Badriprasad Kejriwal |
|
Designation : |
Managing Director |
|
Address : |
1101, Saarthi, 33, K. M. Munshi Marg, Chowpathy, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
05.10.1950 |
|
Date of Appointment : |
16.08.2013 |
|
PAN No.: |
AABPK7489E |
|
Din No.: |
00214028 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51900MH1990PTC055041 |
CORAL TRADING
AND AGENCIES PRIVATE LIMITED |
Director |
24/01/1990 |
24/01/1990 |
- |
Amalgamated |
NO |
|
2 |
U51900MH1990PTC055039 |
KIHIM TRADERS
PRIVATE LIMITED |
Director |
29/01/1990 |
29/01/1990 |
- |
Amalgamated |
NO |
|
3 |
U21029DD1996PLC003450 |
PARKSONS
PACKAGING LIMITED |
Managing
director |
16/08/2013 |
26/04/1996 |
- |
Active |
NO |
|
4 |
U15200MH1999PTC119809 |
SUNIDHI FOODS
PRIVATE LIMITED |
Director |
11/05/1999 |
11/05/1999 |
- |
Active |
NO |
|
5 |
U51900MH1990PTC055040 |
SEACREST TRADING
AND AGENCIES PRIVATE LIMITED |
Director |
29/05/1999 |
29/05/1999 |
- |
Amalgamated |
NO |
|
6 |
U21010MH1965GAP013226 |
Indian Flexible
Packaging and Folding Carton Manufacturers Association |
Director |
02/08/2002 |
02/08/2002 |
- |
Active |
NO |
|
7 |
U22219MH1980PTC023358 |
PARKSONS PRESS
PRIVATE LIMITED |
Director |
29/09/2006 |
29/09/2006 |
- |
Active |
NO |
|
8 |
U36912MH2010PTC207708 |
PARKSONS
CARTAMUNDI PRIVATE LIMITED |
Director |
15/09/2010 |
15/09/2010 |
24/11/2010 |
Active |
NO |
|
Name : |
Mrs. Anjali Devi Ramesh Kejriwal |
|
Designation : |
Director |
|
Address : |
1101, Saarthi, 33, K. M. Munshi Marg, Chowpathy, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
28.09.1954 |
|
Date of Appointment : |
02.07.2001 |
|
Din No.: |
00252407 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51900MH1990PTC055041 |
CORAL TRADING
AND AGENCIES PRIVATE LIMITED |
Director |
24/01/1990 |
24/01/1990 |
- |
Amalgamated |
NO |
|
2 |
U15200MH1999PTC119809 |
SUNIDHI FOODS
PRIVATE LIMITED |
Director |
11/05/1999 |
11/05/1999 |
- |
Active |
NO |
|
3 |
U51900MH1990PTC055040 |
SEACREST TRADING
AND AGENCIES PRIVATE LIMITED |
Director |
29/05/1999 |
29/05/1999 |
- |
Amalgamated |
NO |
|
4 |
U21029DD1996PLC003450 |
PARKSONS
PACKAGING LIMITED |
Director |
02/07/2001 |
02/07/2001 |
- |
Active |
NO |
|
Name : |
Mr. Siddharth Ramesh Kejriwal |
|
Designation : |
Whole time Director |
|
Address : |
1301, Saarthi, 33, K. M. Munshi Marg, Chowpathy, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
19.07.1973 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AABPK7493A |
|
Din No.: |
00263780 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U21029DD1996PLC003450 |
PARKSONS
PACKAGING LIMITED |
Whole-time
director |
01/04/2011 |
26/04/1996 |
- |
Active |
NO |
|
2 |
U15200MH1999PTC119809 |
SUNIDHI FOODS
PRIVATE LIMITED |
Director |
11/05/1999 |
11/05/1999 |
- |
Active |
NO |
|
3 |
U22219MH1980PTC023358 |
PARKSONS PRESS
PRIVATE LIMITED |
Director |
29/09/2006 |
29/09/2006 |
- |
Active |
NO |
|
Name : |
Mr. Chaitanya Ramesh Kejriwal |
|
Designation : |
Whole time Director |
|
Address : |
1201, Saarthi, 33, K. M. Munshi Marg, Chowpathy, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
08.10.1979 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AEFPK2655E |
|
Din No.: |
00214045 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U21029DD1996PLC003450 |
PARKSONS
PACKAGING LIMITED |
Whole-time
director |
01/04/2011 |
19/11/2001 |
- |
Active |
NO |
|
2 |
U22219MH1980PTC023358 |
PARKSONS PRESS
PRIVATE LIMITED |
Director |
28/09/2007 |
24/11/2006 |
- |
Active |
NO |
|
3 |
U36912MH2010PTC207708 |
PARKSONS
CARTAMUNDI PRIVATE LIMITED |
Director |
15/09/2010 |
15/09/2010 |
24/11/2010 |
Active |
NO |
|
Name : |
Mr. Ashok Ramni Ranjan Chokhani |
|
Designation : |
Director |
|
Address : |
502, The Angle, Krishana Sangli Path, Gandevi, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
10.11.1944 |
|
Date of Appointment : |
21.03.2003 |
|
Din No.: |
01331167 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24230MH1977PTC019716 |
JUPITER DYE CHEM
PRIVATE LIMITED |
Director |
22/06/1977 |
22/06/1977 |
- |
Active |
NO |
|
2 |
U65990MH1990PTC056824 |
SANCHAY HOLDINGS
PRIVATE LIMITED |
Director |
12/06/1990 |
12/06/1990 |
- |
Active |
NO |
|
3 |
U67120MH1992PTC070064 |
NIKNIM HOLDINGS
PRIVATE LIMITED |
Director |
18/12/1992 |
18/12/1992 |
- |
Active |
NO |
|
4 |
U28129MH1994PTC077571 |
NISHFLEX
PACKAGING PRIVATE LIMITED |
Director |
06/04/1994 |
06/04/1994 |
- |
Active |
NO |
|
5 |
U45202MH1994PTC079958 |
LEHAR PROPERTIES
PRIVATE LIMITED |
Director |
29/07/1994 |
29/07/1994 |
- |
Active |
NO |
|
6 |
U21029DD1996PLC003450 |
PARKSONS
PACKAGING LIMITED |
Director |
21/03/2003 |
21/03/2003 |
- |
Active |
NO |
|
Name : |
Mr. Suresh Shubhkaran Seksaria |
|
Designation : |
Director |
|
Address : |
Sea Shell, 1st Floor, 13, Darabsha Lane, Off. Nepeansea
Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
02.01.1949 |
|
Date of Appointment : |
21.03.2003 |
|
Din No.: |
00276580 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U67120MH1992PTC066843 |
TRIDHARA
SECURITIES PRIVATE LIMITED |
Director |
25/09/1993 |
25/09/1993 |
- |
Active |
NO |
|
2 |
U65990MH1994PTC082334 |
ASCOT SECURITIES
AND FINANCE PRIVATE LIMITED |
Director |
05/10/1995 |
05/10/1995 |
- |
Active |
NO |
|
3 |
U21029DD1996PLC003450 |
PARKSONS
PACKAGING LIMITED |
Director |
21/03/2003 |
21/03/2003 |
- |
Active |
NO |
|
4 |
U51909WB1997PTC085204 |
ASHIANA
MERCANTILE PRIVATE LIMITED |
Additional
director |
30/03/2007 |
30/03/2007 |
- |
Active |
NO |
|
5 |
U27300MH1971PTC015501 |
NAVBHARAT METAL
CONTAINERS PRIVATE LIMITED |
Additional
director |
10/03/2014 |
10/03/2014 |
- |
Active |
NO |
|
6 |
U99999MH2001PLC134291 |
APL INFOTECH
LIMITED |
Additional
director |
14/03/2014 |
14/03/2014 |
- |
Active |
NO |
|
Name : |
Mr. Kunal Kumudchandra Shroff |
|
Designation : |
Nominee Director |
|
Address : |
8, Jay Mahal, 1st Floor, A Road, Churchgate, Mumbai –
400020, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1974 |
|
Date of Appointment : |
30.09.2006 |
|
Din No.: |
00240439 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U67190DL2004PTC129065 |
CHRYSCAPITAL
INVESTMENT ADVISORS (INDIA) PRIVATE LIMITED. |
Director |
14/09/2004 |
14/09/2004 |
- |
Active |
NO |
|
2 |
L45209WB1924PLC004969 |
SIMPLEX
INFRASTRUCTURES LIMITED |
Director |
19/09/2007 |
19/05/2006 |
05/02/2013 |
Active |
NO |
|
3 |
U21029DD1996PLC003450 |
PARKSONS
PACKAGING LIMITED |
Nominee director |
30/09/2006 |
30/09/2006 |
- |
Active |
NO |
|
4 |
L45203MH2001PLC131728 |
GAMMON
INFRASTRUCTURE PROJECTS LIMITED |
Director |
26/09/2011 |
12/04/2011 |
08/11/2012 |
Active |
NO |
|
5 |
U74900DL2012PTC235889 |
Nuvo
ChrysCapital Advisors Private Limited |
Director |
16/05/2012 |
16/05/2012 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Nandlal Jaju |
|
Designation : |
Company Secretary |
|
Address : |
605, B Srinath Nagar CHS, Shiv Vallabh Road, Ashokvan, Dahisar – East,
Mumbai – 400068, Maharashtra, India |
|
Date of Birth/Age : |
14.02.1972 |
|
Date of Appointment : |
24.04.2004 |
|
PAN No.: |
AAJPJ5929N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Ramesh Badriprasad Kejriwal |
918260 |
|
Sajjan Kejriwal |
596780 |
|
Anjali Devi Kejriwal |
342000 |
|
Asha Devi Kejriwal |
745434 |
|
Ramesh Kejriwal |
16030 |
|
Sajjan Kejriwal |
835630 |
|
Kapil Kejriwal |
1083880 |
|
Ramesh Kejriwal |
227440 |
|
Nidhi Kejriwal |
779150 |
|
Chaitanya Ramesh Kejriwal |
1399730 |
|
Ramesh Kejriwal |
757140 |
|
Siddharth Ramesh Kejriwal |
1502140 |
|
Siddharth Ramesh Kejriwal |
53440 |
|
M/s Parksons Press Private Limited, India |
142680 |
|
Shaili Kejriwal |
600246 |
|
M/s. Goya Limited, India |
2658222 |
|
R. Srikanth |
10000 |
|
Shailesh Potdar |
7500 |
|
Total |
12675702 |
AS ON 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
21.00 |
|
Bodies corporate |
|
1.00 |
|
Directors or relatives of directors |
|
78.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Importer of Printed Paper Board Cartons. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Standard Chartered Bank, Narain Manzil, 23,
Barakhamba
Road, New Delhi – 110001, India ·
State Bank of India, Backbay Reclamation Branch,
Raheja Chamber, Nariman Point - 400021, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Note: Long term
borrowing Rupee term loan of
Rs.11.639 Millions (P.Y. Rs. 45.403 Millions), Foreign currency loan of
Rs.77.029 Millions (P.Y. Rs.163.790 Millions)taken from SBI(State Bank of
India) and SCB (Standard Chartered Bank) are secured on paripassu basis by
way of (a) Equitable mortgage of Immovable property being land along with
structure standing thereon bearing Survey no.
11/2,11/3,11/4,13/1,13/2,13/3,728/5, 728/7, 728/8, 728/9 and 728/10
Ringanwada, Nani Daman, Daman and at Gat no 357/77,79,81 Village Kharabwadi
at Chakan, Pune (b) Hypothecation of entire present and future machines and
others movable fixed assets of the company at Daman and Chakan, (c) extension
of second charge by way of hypothecation on entire current assets, present
and future. (ii) Foreign currency loan includes Buyers credit of Rs.8.549
Millions (P.Y. Rs.8.014 Millions) has exclusive charge on laminating
machine in Chakan. (iii)Foreign currency loan of Rs.460.888 Millions P.YRs.
428.439 Millions) availed from SCB is secured by exclusive first charge by way of
(a) Equitable mortgage on immovable property being lease hold land at Plot
no. 23, 24, 25 and 26 sector number 4, IIE, Sidcul Pantanagar and
structure thereon ; (b)
Hypothecation of entire present and future machines and other movable fixed assets
of the company at Pantnagar
(Uttarakhand). (iv) Corporate
Loan of Rs. 3.750 Millions /-(p.y ` Rs. 70.000 Millions -) taken from SBI is
secured by way of (a)
Hypothecation of all current assets present and future (b) Second
charge by way of equitable mortgage on immovable assets and hypothecation of
movable assets paripassu with working capital. (vi) Foreign
currency loan of Rs. 143.516 Millions -(P.Y. Nil) taken from SBI is secured
on paipassu basis by way of hypothecation of entire present and future
machines and other movable fixed assets of the company at Daman and Chakan
Plant. Foreign currency
loan includes Buyers credit of Rs.8.549 Millions (P.Y. Rs. 8.014 Millions)
has exclusive charge on laminating machine in Chakan. (iii)Foreign
currency loan of Rs.460.888 Millions (P.YRs. 428.839 Millions) availed from
SCB is secured by exclusive first charge by way of (a) Equitable
mortgage on immovable property being lease hold land at Plot no. 23, 24, 25
& 26 sector number 4, IIE, Sidcul Pantanagar and structure thereon. ;(b)
Hypothecation of entire present and future machines and other movable fixed
assets of the company at Pantnagar (Uttarakhand). (iv) Corporate Loan
of Rs. 3.750 Millions -(p.y Rs. 70.000 Millions) taken from SBI is secured by
way of (a)
Hypothecation of all current assets present and future. (b) Second
charge by way of equitable mortgage on immovable assets and hypothecation of
movable assets paripassu with working capital.(vi) Foreign currency loan of
Rs. 143.516 Millions P.Y. Nil) taken from SBI is secured on paipassu basis by
way of hypothecation of entire present and future machines and other movable
fixed assets of the company at Daman and Chakan Plant. Short term
borrowing Working Capital
loans (includes bills discounting) is taken from State Bank of India (SBI)
and Standard Chartered Bank (SCB) secured on paripassu basis by way of (a)
Hypothecation of all current assets present and future (b) Second charge by
way of equitable mortgage on immovable fixed assets and hypothecation of
movable fixed assets Foreign currency loan in working capital loan / cash
credit facilities includes Buyers credit amounting to `nil (P. Y. 13.893
Millions) |
||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi And Company Chartered Accountant |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
|
Pan No.: |
AALFS0506L |
|
|
|
|
Enterprises
owned or significantly
influenced by key Management
personnel or their
relatives : |
·
Parksons Press
Private Limited [U22219MH1980PTC023358] ·
Parksons Cartamundi Private Limited
[U36912MH2010PTC207708] |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Share |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12675702 |
Equity Share |
Rs.10/- each |
Rs. 126.757
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 |
126.757 |
126.757 |
126.757 |
|
(b) Reserves & Surplus |
1,401.056 |
1,171.963 |
1,022.576 |
|
(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) |
1,527.813 |
1,298.720 |
1,149.333 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
469.998 |
455.012 |
585.176 |
|
(b) Deferred tax liabilities
(Net) |
178.735 |
156.898 |
167.163 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
12.529 |
9.483 |
8.508 |
|
Total
Non-current Liabilities (3) |
661.262 |
621.393 |
760.847 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
406.709 |
333.516 |
452.131 |
|
(b) Trade payables |
304.706 |
244.230 |
196.516 |
|
(c) Other current liabilities |
321.419 |
307.041 |
299.192 |
|
(d) Short-term provisions |
5.618 |
15.581 |
12.754 |
|
Total
Current Liabilities (4) |
1,038.452 |
900.368 |
960.593 |
|
|
|
|
|
|
TOTAL |
3,227.527 |
2,820.481 |
2,870.773 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2,068.147 |
1,805.001 |
1,839.147 |
|
(ii) Intangible Assets |
2.856 |
5.046 |
7.154 |
|
(iii) Capital work-in-progress |
31.487 |
42.587 |
5.651 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
32.280 |
22.074 |
38.452 |
|
(e) Other Non-current assets |
2.421 |
0.690 |
0.651 |
|
Total
Non-Current Assets |
2,137.191 |
1,875.398 |
1,891.055 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
364.664 |
332.835 |
378.123 |
|
(c) Trade receivables |
659.292 |
514.537 |
480.756 |
|
(d) Cash and cash equivalents |
1.517 |
16.570 |
1.348 |
|
(e) Short-term loans and
advances |
54.110 |
67.756 |
100.099 |
|
(f) Other current assets |
10.753 |
13.385 |
19.392 |
|
Total
Current Assets |
1,090.336 |
945.083 |
979.718 |
|
|
|
|
|
|
TOTAL |
3,227.527 |
2,820.481 |
2,870.773 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
3,614.305 |
3,066.968 |
2,640.702 |
|
|
Other Income |
10.624 |
16.736 |
11.577 |
|
|
TOTAL
(A) |
3,624.929 |
3,083.704 |
2,652.279 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2,101.713 |
1,775.562 |
1,545.771 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(5.514) |
16.255 |
6.798 |
|
|
Employees benefits expense |
346.002 |
290.472 |
217.212 |
|
|
Other expenses |
536.999 |
465.454 |
423.205 |
|
|
TOTAL
(B) |
2,979.200 |
2,547.743 |
2,192.986 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
645.729 |
535.961 |
459.293 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
118.506 |
157.138 |
118.073 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
527.223 |
378.823 |
341.220 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
186.685 |
169.226 |
150.599 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
340.538 |
209.597 |
190.621 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
111.445 |
60.210 |
37.925 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
229.093 |
149.387 |
152.696 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
713.342 |
563.955 |
411.259 |
|
|
|
|
|
|
|
Add |
Earlier
year excess proposed dividend and dividend distribution tax (L) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
942.435 |
713.342 |
563.955 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
474.360 |
406.197 |
435.941 |
|
|
Other Earning |
0.000 |
0.011 |
0.000 |
|
|
TOTAL
EARNINGS |
474.360 |
406.208 |
435.941 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
105.077 |
65.301 |
103.679 |
|
|
Capital Goods |
316.390 |
35.798 |
187.881 |
|
|
TOTAL
IMPORTS |
421.467 |
101.099 |
291.560 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
18.070 |
11.790 |
12.050 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.32
|
4.84 |
5.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.42
|
6.83 |
7.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.65
|
7.55 |
6.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.16 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.61 |
0.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.05 |
1.02 |
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 |
126.757 |
126.757 |
126.757 |
|
Reserves & Surplus |
1,022.576 |
1,171.963 |
1,401.056 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1,149.333 |
1,298.720 |
1,527.813 |
|
|
|
|
|
|
long-term borrowings |
585.176 |
455.012 |
469.998 |
|
Short term borrowings |
452.131 |
333.516 |
406.709 |
|
Total
borrowings |
1,037.307 |
788.528 |
876.707 |
|
Debt/Equity
ratio |
0.903 |
0.607 |
0.574 |
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) |
|
Sales |
2,640.702 |
3,066.968 |
3,614.305 |
|
|
|
16.142 |
17.846 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
2,640.702 |
3,066.968 |
3,614.305 |
|
Profit After Tax |
152.696 |
149.387 |
229.093 |
|
|
5.78% |
4.87% |
6.34% |
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 |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
No |
|
13] |
Reasons for
variation <> 20% |
-- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
No |
|
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 |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10476697 |
03/02/2014 |
70,000,000.00 |
Standard
Chartered Bank |
Narain Manzil,
23, Barakhamba Road, Delhi, Delhi |
B95987277 |
|
2 |
10476698 |
15/01/2014 |
285,000,000.00 |
Standard
Chartered Bank |
Narain Manzil,
23, Barakhamba Road, Delhi, Delhi |
B95987400 |
|
3 |
10428586 |
29/04/2013 |
30,000,000.00 |
STATE BANK OF
INDIA |
BACKBAY
RECLAMATION BRANCH, RAHEJA CHAMBERS,, FRE |
B76043470 |
|
4 |
10370579 |
14/08/2012 |
168,000,000.00 |
STATE BANK OF
INDIA |
RAHEJA CHAMBERS,
BACKBAY RECLAMATION BRANCH,NARIM |
B45684131 |
|
5 |
10371070 |
06/12/2013 * |
155,000,000.00 |
Standard
Chartered Bank |
Narain Manzil,
23, Barakhamba Road, New Delhi, De |
B92743293 |
|
6 |
10340982 |
17/02/2012 |
7,776,760.00 |
Standard
Chartered Bank |
Narain Manzil,
23, Barakhamba Road, Delhi, Delhi |
B34498121 |
|
7 |
10295412 |
15/01/2014 * |
77,500,000.00 |
Standard
Chartered Bank |
Narain Manzil,
23, Barakhamba Road, Delhi, Delhi |
B97196794 |
|
8 |
10278971 |
28/03/2011 |
80,000,000.00 |
STATE BANK OF
INDIA |
BACKBAY
RECLAMATION BRANCH, RAHEJA CHAMBERS, NARI |
B10219657 |
|
9 |
10260696 |
19/10/2011 * |
31,682,000.00 |
Standard
Chartered Bank |
Narain Manzil,
23,, Barakhamba Road, New Delhi, D |
B25353319 |
|
10 |
10236602 |
16/08/2010 * |
72,500,000.00 |
STATE BANK OF
INDIA |
BACKBAY
RECLAMATION BRANCH, RAHEJA CHAMBERS NARIM |
A93984367 |
* Date of charge modification
Fixed Assets :
- Free hold land
- Lease hold land
- Factory Building
- Plant and Machinery
- Furniture and
Fixtures
- Office
Equipments
- Vehicles
- Computers
WEBSITE DETAILS
Thursday, June 13, 2013
ChrysCapital looking to exit Parksons Packaging, appoints banker
BY BHAWNA GUPTA
In June 2006, the PE firm invested Rs 500.000
Millions in the packaging company for a minority stake.
Private equity major ChrysCapital is
looking to exit its seven-year-old investment in Mumbai-based Parksons
Packaging Limited, a leading manufacturer and exporter of printed and laminated
folding cartons, at least two sources briefed with the matter told VCCircle.
According to them, the company has also mandated Avendus Capital, a
Mumbai-based investment banking firm, for the same. Sources said that the
company is likely to approach other private equity investors for a secondary
transaction.
In June 2006, the PE firm invested Rs 50
crore in the packaging company for a minority stake.
When contacted by VCCircle for comments
on the development,...
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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. 60.23 |
|
UK Pound |
1 |
Rs. 101.68 |
|
Euro |
1 |
Rs. 83.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.