MIRA
INFORM REPORT
|
Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
VIJAYNEHA POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8-3-332, Mailardev Pally,
Rajendra Nagar, Hyderabad
– 500 005, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.07.2003 |
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|
|
|
Com. Reg. No.: |
01-041378 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.19.151 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209AP2003PTC041378 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDV02342E |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCV7309K |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of
varieties of plastic bags and allied products. |
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|
|
|
No. of Employees
: |
500 (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 988000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an
established company having satisfactory track record. General financial
position of the company seems to be decent. Profitability of the company is
fair. 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 condition. |
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: BBB- (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
November 26, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A3 (Suspended) |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
November 26, 2013 |
Reason for suspension: Yet to provide adequate information.
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. Sanjay Padhi |
|
Designation : |
Import-Export Manager |
|
Contact No.: |
91-9989502570 |
|
Date : |
07.05.2014 |
LOCATIONS
|
Registered Office/ Factory : |
8-3-332, Mailardev Pally,
Rajendra Nagar, Hyderabad
– 500 005, Andhra Pradesh, India |
|
Tel. No.: |
91-40-24446906/ 24442644/ 20021125 |
|
|
91-9989502570
(Mr. Sanjay Padhi) |
|
Fax No.: |
91-40-24446902 |
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E-Mail : |
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Website : |
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Administrative Office : |
15-7-476, Begum Bazar, Hyderabad – 500 012,
Andhra Pradesh, India |
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Tel. No.: |
91-40-24615259/ 24777659 |
|
Fax No.: |
01-40-24446902 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Shiv Kumar Gupta |
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|
Designation : |
Director |
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Address : |
No.5, Ambience Fort, Attapur, Ranga Reddy, Hyderabad – 500 048, Andhra Pradesh, India |
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Date of Birth/Age : |
11.01.1975 |
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Date of Appointment : |
22.07.2003 |
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Voter ID No.: |
MXR5276894 |
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DIN No.: |
00856522 |
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PAN No.: |
ABIPG4522G |
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Other Directorship:
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Name : |
Mrs. Chandra Bhaga |
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Designation : |
Director |
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Address : |
No.5, Ambience Fort, Attapur, Ranga Reddy, Hyderabad – 500 048, Andhra Pradesh, India |
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Date of Birth/Age : |
23.10.1949 |
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Date of Appointment : |
22.07.2003 |
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Voter ID No.: |
MXR5604715 |
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DIN No.: |
01017032 |
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KEY EXECUTIVES
|
Name : |
Mr. Sanjay Padhi |
|
Designation : |
Import-Export Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
No. of Shares |
|
Shiv Kumar Gupta |
810000 |
|
Chandra Bhaga |
250000 |
|
Aruna Gupta |
589997 |
|
Shiv Kumar Gupta-(HUF) |
99500 |
|
Anju Gupta |
3500 |
|
Manju Agarwal |
3500 |
|
V.N. Distributors Private Limited, India |
145000 |
|
Tara Sales Corporation, India |
25 |
|
Moallim Ali |
3500 |
|
Zarina Fatima |
3500 |
|
Gopalal Goud |
3500 |
|
Samata Goud |
3000 |
|
Jagdamba Traders, India |
6 |
|
Kishore Agarwal |
6 |
|
Pushpabhai Agarwal |
6 |
|
Sarda Plastics ( |
5 |
|
Bajarang Suiting House, India |
25 |
|
Total |
1915070 |
AS ON 28.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
7.00 |
|
Directors
or relatives of directors |
|
92.00 |
|
Other
top fifty shareholders |
|
1.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
varieties of plastic bags and allied products. |
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Products : |
·
Multilayer Films ·
Laminated Rolls and pouches ·
Carry Bags (T-Shirt Bags) ·
Kirana Bags ·
Poly Bags ·
Liners ·
Garbage Bags ·
Bag on Roll ·
Polypropylene Bags ·
LD/LLDPE Bags |
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|
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Brand Names : |
·
SHIVA GOLD ·
SHIVA RUBY ·
SHIVA DIAMOND ·
SHIVA SILVER JANATHA ·
CITIZEN ·
CHANDRA |
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Exports : |
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Products : |
Plastic Bags and
allied products |
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Countries : |
·
USA ·
South Africa |
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Imports : |
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Countries : |
·
USA ·
Saudi Arabia ·
Qatar ·
Singapore |
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Terms : |
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Selling : |
L/C, Cheque and Credit |
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Purchasing : |
L/C, Cheque and Credit |
GENERAL INFORMATION
|
Customers : |
Manufacturer ·
ITC Limited,
Hyderabad ·
Starflex, Gujarat ·
Tata Tea Limited |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Vadodara – 390 015, Gujarat, India ·
State Bank of India ·
Syndicate Bank, Afzal Gunj,
Hyderabad – 500 012, Andhra Pradesh, India |
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Facilities : |
Notes: LONG-TERM
BORROWINGS 1) Term loans from Banks
to the extent of Rs.14.526 millions is owed to Syndicate bank and Rs.21.250
millions is owed to ICICI Bank Limited, both these are secured by a first pari passu charge on equitable
mortgage of Land, and Factory building at Mailardevpally
and at Kothur, including land owned by V.N
Distributions Private Limited at Mailardevpally,
hypothecation of Plant & Machinery belonging to the Company and a pari passu second charge on
hypothecation of stock and book debts of the Company. Balance Rs.3.349
millions are Car loans, secured by way of Hypothecation of Cars. 2) Term
loans have been guaranteed by both the directors of the company and also by
VN Distributions Private Limited owner of the Land where the factory of the
Company is situated, and its Director Mrs Aruna Gupta.
3) Term Loan form Syndicate Bank is repayable in equated monthly installment of Rs.0.872 million which include interest @
Bank's PLR less 0.5%. Term Loan from ICICI Bank is repayable by monthly
instalment of Rs.0.625 million together with monthly interest @ 3.95% above
Bank's base rate less six months term premia. SHORT-TERM
BORROWINGS 1) Working capital loans
to the extent of Rs.199.914 millions including the entire Foreign currency loans
are owned to ICICI Bank Limited and Rs.25.221 millions are owed to Syndicate
Bank which are secured by a first pari passu charge on hypothecation of stocks and receivables
other than IOCL agency business receivables and a second pari
passu charge on equitable mortgage of Land and
building including land owned by VN Distributions Pvt
Ltd and hypothecation of Plant and Machinery of the Company. The balance
Rupee loan of Rs.154.680 millions owed to SBI is secured by hypothecation of
Receivables of IOCL agency business. 2) All working capital loans are
guaranteed by both the Directors of the Company, Working capital loans from
Syndicate bank and ICICI Bank Limited are also guaranteed by VN Distributions
Private Limited and its Director Mrs. Aruna Gupta. |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
M.K.A. Associates Chartered Accountants |
|
Address : |
107, 4-1-969/7, Surabhi Shradha
Block, Ahuja Estate, ABIDS, Hyderabad – 500 001,
India |
|
Tel. No.: |
91-40-65168900 |
|
Fax No.: |
91-40-24758964 |
|
E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AAHFM2660F |
|
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|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
·
V.N. Distributions Private Limited, India (CIN
No.: U31909AP1994PTC017075)
·
Neha Poly Pack, India |
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1915070 |
Equity Shares |
Rs.10/- each |
Rs.19.151
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 |
19.151 |
19.151 |
18.651 |
|
(b) Reserves & Surplus |
219.930 |
201.019 |
122.875 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
8.000 |
8.000 |
28.000 |
|
Total
Shareholders’ Funds (1) + (2) |
247.081 |
228.170 |
169.526 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
32.115 |
48.846 |
81.567 |
|
(b) Deferred tax liabilities (Net) |
29.440 |
25.918 |
20.533 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
61.555 |
74.764 |
102.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
379.816 |
314.812 |
328.920 |
|
(b)
Trade payables |
124.181 |
223.111 |
192.008
|
|
(c)
Other current liabilities |
117.980 |
55.360 |
29.022
|
|
(d) Short-term
provisions |
5.892 |
9.102 |
12.378
|
|
Total Current
Liabilities (4) |
627.869 |
602.385 |
562.328 |
|
|
|
|
|
|
TOTAL |
936.505 |
905.319 |
833.954 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
226.818 |
213.385 |
169.932 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
51.699 |
41.361 |
57.604 |
|
(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 |
3.186 |
0.745 |
0.000 |
|
(e) Other
Non-current assets |
15.619 |
13.361 |
13.515 |
|
Total Non-Current
Assets |
297.322 |
268.852 |
241.051 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
183.293 |
154.966 |
199.280
|
|
(c)
Trade receivables |
350.312 |
381.648 |
282.166
|
|
(d) Cash
and cash equivalents |
41.838 |
28.031 |
21.510
|
|
(e)
Short-term loans and advances |
56.004 |
64.315 |
86.846 |
|
(f)
Other current assets |
7.736 |
7.507 |
2.101 |
|
Total
Current Assets |
639.183 |
636.467 |
591.903 |
|
|
|
|
|
|
TOTAL |
936.505 |
905.319 |
833.954 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Income |
2012.735 |
1913.650 |
1458.170 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
93.584 |
105.810 |
85.998 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST |
47.087 |
49.837 |
29.050 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
46.497 |
55.973 |
56.948 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.640 |
12.842 |
10.424 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE EXCEPTIONAL/ EXTRAORDINARY ITEMS & TAX |
31.857 |
43.131 |
46.524 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL/
EXTRAORDINARY ITEMS |
3.531 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
28.326 |
43.131 |
46.524 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.415 |
14.265 |
14.696 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
18.911 |
28.866 |
31.828 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
111.255 |
85.516 |
57.089 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
2.904 |
3.183 |
|
|
|
Proposed Dividend |
0.000 |
0.192 |
0.187 |
|
|
|
Dividend Distribution Tax |
0.000 |
0.031 |
0.031 |
|
|
BALANCE CARRIED
TO THE B/S |
130.166 |
111.255 |
85.516 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
39.445 |
Nil
|
Nil
|
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
9.87 |
15.07 |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
2300.000 |
|
|
|
|
|
The above information has been parted by Mr. Sanjay Padhi
(Import-Export Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.20
|
4.99 |
5.99
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.19 |
0.27
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.67
|
1.59 |
2.42
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
1.06 |
1.05
|
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 |
18.651 |
19.151 |
19.151 |
|
Reserves & Surplus |
122.875 |
201.019 |
219.930 |
|
Share
Application money pending allotment |
28.000 |
8.000 |
8.000 |
|
Net worth |
169.526 |
228.170 |
247.081 |
|
|
|
|
|
|
Long-term borrowings |
81.567 |
48.846 |
32.115 |
|
Short term borrowings |
328.920 |
314.812 |
379.816 |
|
Total borrowings |
410.487 |
363.658 |
411.931 |
|
Debt/Equity ratio |
2.421 |
1.594 |
1.667 |
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) |
|
Operating Income |
1458.170 |
1913.650 |
2012.735 |
|
|
|
31.236 |
5.178 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Operating Income |
1458.170 |
1913.650 |
2012.735 |
|
Profit |
31.828 |
28.866 |
18.911 |
|
|
2.18% |
1.51% |
0.94% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
Yes |
|
34)
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10233760 |
30/11/2012 * |
341,250,000.00 |
ICICI BANK LIMITED |
LANDMARK RACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B73712127 |
|
2 |
10236779 |
02/08/2010 |
225,000,000.00 |
STATE BANK OF INDIA |
SEIE KATTEDAN, KATTEDAN,
HYDERBAD, ANDHRA PRADESH - 500077, INDIA |
A93427730 |
|
3 |
90130377 |
12/05/2012 * |
94,780,942.00 |
SYNDICATE BANK |
AFZAL GUNJ, HYDERABAD,
ANDHRA PRADESH - 500012, INDIA |
B57511941 |
*
Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Deposits from shareholders (On demand after 1 year) |
12.500 |
12.500 |
|
Loans and advances from directors (On demand after 1 year) |
0.070 |
0.040 |
|
Total
|
12.570 |
12.540 |
Note:
The registered office of the company has been shifted from Survey No.67, Mailardev Pally Village, Rajendranagar, Ranga Reddy
District, Hyderabad, Andhra Pradesh to the present address (As confirmed
by the management).
PERFORMANCE AND OPERATIONS:
The Company’s operating
revenue during the year were Rs.2012.735 millions as against Rs.1913.650
millions for the previous year, registering an increase of 5.18%. The net
profit before extraordinary item and Tax of Rs.31.857 millions and the profit
after tax of Rs.18.911 millions for the financial year, recorded a decline of
26.14% and 34.49% as against Rs.43.131 millions and Rs.28.866 millions
respectively for the previous financial year.
Political turmoil,
Electricity power crisis in A.P. and the devaluation of Rupee vis-a-vis US $ turned the year that passed as the most
turbulent, yet the Company had been able to maintain its volume if not the
margins.
FUTURE OUTLOOK:
Long term outlook of the
plastic and packaging industry is brighter both worldwide and at the nation
level. However the company’s capex plans did not gain
momentum on account of external turbulence. However the Director’s are
optimistic that the plans would be carried out sooner once the situation
reverts and stabilises.
FINANCE:
The Company had paid the
instalments against outstanding term loan on due dates and also the interest on
term loan and working capital facilities.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Vehicle
·
Computers
WEBSITE DETAILS:
PROFILE:
Subject
one of the fastest growing companies in the Indian packaging industry. Subject
recorded an annual compounded growth rate of 35% over the last five years by
crossing many a milestones.
Subject
during these years expanded in to new markets and consolidated its position
with a wide range of products. It has now a customer base of over 3000.
Addition of latest manufacturing facilities embracing advanced technologies has
been the hallmark to in the ever changing packaging market. The company has an
installed extrusion capacity of over 15000 Metric Tonnes per annum.
The
company is led by the visionary Shri S.K. Gupta. His
modern management style transformed the company into a professional and vibrant
organization. Subject has pioneered plastic film processing and printing
technology over the years to serve the market demands of the major brands and
companies in India and abroad. Subject has developed a large customer base with
the top 10 customers accounting for less than 35 per cent of the total sales
over the past three years.
Subject banks on its team and partners for
growth and enhanced customer satisfaction. All operations are handled by
veteran Mr. M.G. Thobhani, who is having more than
three decades of experience both in India and abroad in extrusion of polymers.
The finance operations are controlled by experienced Chartered Accountant.
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 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.60.05 |
|
UK Pound |
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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.