MIRA INFORM REPORT
|
Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
LIVIA POLYMER
BOTTLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2-D, Sridev Apartments, 31 First Main Road, West CIT Nagar, Nandanam,
Chennai – 600035, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.12.1985 |
|
|
|
|
Com. Reg. No.: |
18-012489 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24300TN1985PTC012489 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEL00046E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL5958K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of high quality PET Containers, Jars and Bottles in Various Sizes, Shapes and Colors. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1613000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. There seems dip in the profit of the company during 2013. However,
general financial position seems to be good. Trade relations are reported to be fair. Business is active. Payment
terms reported to be usually correct and as per commitment. The company can be considered for normal 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 BBB+ |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
February 10, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A2 |
|
Rating Explanation |
Have strong degree of safety and carry low
credit risk. |
|
Date |
February 10, 2014 |
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 BY
|
Name : |
Mr. Ramanan |
|
Designation : |
Director |
|
Contact No.: |
91-9843054927 |
|
Date : |
15.05.2014 |
LOCATIONS
|
Registered Office : |
2-D, Sridev Apartments, 31 First Main Road, West CIT Nagar, Nandanam, Chennai
– 600035, Tamilnadu, India |
|
Tel. No.: |
91-44-24330168 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Office and Factory : |
Mandaiyur Salai, Mandaiyur, Pudukottai-622 515, Tamilnadu, India |
|
Tel. No.: |
91-4339-250418/ 472/ 580 |
|
Fax No.: |
91-4339-250418/ 472/ 580 |
|
E-Mail : |
DIRECTORS
As on 27.04.2013
|
Name : |
Mr. Venkata Ramanan Bapoo |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
2-D, Sridev Apartments, 31 First Main Road, West CIT Nagar, Nandanam,
Chennai – 600035, Tamilnadu, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.03.1960 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.12.1985 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00934602 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ambikrishnaswamy Bapoo Lakshmanan |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
10, Rajaram Salai K. K. Nagar, Trichy – 620021, Tamilnadu, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.11.1929 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.06.1989 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Cessation : |
11.06.2013 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00934816 |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mythily Ramanan |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
2-D, Sridev Apartments, 31 First Main Road, West CIT Nagar, Nandanam,
Chennai – 600035, Tamilnadu, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.11.1962 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.04.1999 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01258785 |
|||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.04.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Venkata Ramanan Bapoo |
134534 |
83.05 |
|
Ambikrishnaswamy Bapoo Lakshmanan |
11250 |
6.94 |
|
K. Lakshmanan |
810 |
0.50 |
|
A. Raghavan |
1000 |
0.62 |
|
Auto Parts and Acessories, India |
1000 |
0.62 |
|
Vashist Ramanan |
100 |
0.06 |
|
K. Prakash |
700 |
0.43 |
|
Mythily Ramanan |
12606 |
7.78 |
|
|
|
|
|
Total |
162000 |
100.00 |
As on 27.04.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
97.83 |
|
Other top fifty shareholders |
2.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of high quality PET Containers, Jars and Bottles in Various Sizes, Shapes and Colours. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Somasundaram and Sivaraman Chartered Accountant |
|
Address : |
E-10, Karthik Apartments, 46 Vijayaraghava Road, T. Nagar, Chennai –
600017, Tamilnadu, India |
|
PAN
No. : |
AASPS4961Q |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.100/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
162000 |
Equity Shares |
Rs.100/- each |
Rs.16.200 Millions |
|
|
|
|
|
After 27.04.2013
Authorised Capital : Rs. 60.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 23.332
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 |
16.200 |
16.200 |
16.200 |
|
(b) Reserves & Surplus |
379.873 |
321.696 |
241.693 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
7.131 |
6.400 |
4.800 |
|
Total
Shareholders’ Funds (1) + (2) |
403.204 |
344.296 |
262.693 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
394.491 |
411.553 |
305.934 |
|
(b) Deferred tax liabilities (Net) |
81.880 |
75.134 |
38.918 |
|
(c) Other long term
liabilities |
3.027 |
0.392 |
6.689 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
479.398 |
487.079 |
351.541 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
115.223 |
157.708 |
80.293 |
|
(b) Trade
payables |
195.004 |
90.943 |
125.649 |
|
(c) Other
current liabilities |
3.375 |
9.158 |
8.784 |
|
(d) Short-term
provisions |
12.592 |
30.419 |
29.332 |
|
Total Current
Liabilities (4) |
326.194 |
288.228 |
244.058 |
|
|
|
|
|
|
TOTAL |
1208.796 |
1119.603 |
858.292 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
784.394 |
769.973 |
527.462 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
58.217 |
0.565 |
3.431 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
842.611 |
770.538 |
530.893 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
116.397 |
87.700 |
91.559 |
|
(c) Trade
receivables |
187.146 |
205.985 |
167.628 |
|
(d) Cash
and cash equivalents |
16.019 |
8.073 |
7.397 |
|
(e)
Short-term loans and advances |
29.218 |
36.056 |
42.033 |
|
(f) Other
current assets |
17.405 |
11.251 |
18.782 |
|
Total
Current Assets |
366.185 |
349.065 |
327.399 |
|
|
|
|
|
|
TOTAL |
1208.796 |
1119.603 |
858.292 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1297.787 |
1183.777 |
847.784 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1052.305 |
904.240 |
622.633 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
245.482 |
279.537 |
225.151 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
62.045 |
50.926 |
32.437 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
183.437 |
228.611 |
192.714 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
104.521 |
83.202 |
54.618 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
78.916 |
145.409 |
138.096 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
70.739 |
65.406 |
44.148 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
8.177 |
80.003 |
93.948 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
50.47 |
493.84 |
579.92 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.63 |
6.76 |
11.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.86 |
12.99 |
16.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.42 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.26 |
1.65 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.21 |
1.34 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
16.200 |
16.200 |
16.200 |
|
Reserves & Surplus |
241.693 |
321.696 |
379.873 |
|
Share Application money
pending allotment |
4.800 |
6.800 |
7.131 |
|
Net worth |
262.693 |
344.696 |
403.204 |
|
|
|
|
|
|
long-term borrowings |
305.934 |
411.553 |
394.491 |
|
Short term borrowings |
80.293 |
157.708 |
115.223 |
|
Total
borrowings |
386.227 |
569.261 |
509.714 |
|
Debt/Equity
ratio |
1.470 |
1.651 |
1.264 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
847.784 |
1183.777 |
1297.787 |
|
|
|
39.632 |
9.631 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
847.784 |
1183.777 |
1297.787 |
|
Profit |
93.948 |
80.003 |
8.177 |
|
|
11.08% |
6.76% |
0.63% |
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 |
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 |
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 |
No |
|
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 |
10457462 |
24/10/2013 |
37,800,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B88495650 |
|
2 |
10378762 |
30/10/2013 * |
480,830,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B90963240 |
|
3 |
10376490 |
04/10/2013 * |
95,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B86667433 |
|
4 |
10362179 |
01/06/2012 |
197,100,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B42256958 |
|
5 |
10276622 |
10/03/2011 |
62,100,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B09504754 |
|
6 |
10242931 |
13/09/2010 |
168,450,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
A96056551 |
|
7 |
90305197 |
14/08/2003 * |
1,500,000.00 |
BHARAT OVERSEAS BANK LTD |
NUNGAMBAKKAM BRANCH, CHENNAI, Tamil Nadu - 600006, |
- |
|
8 |
90304319 |
02/05/2013 * |
608,257,000.00 |
INDIAN OVERSEAS BANK |
HADDOWS ROAD BRANCH, PRINCE TOWERS, NUNGAMBAKKAM, COLLEGE ROAD,
CHENNAI, Tamil Nadu - 600006, INDIA |
B75719898 |
* Date of charge modification
YEAR IN RETROSPECT
The year 2012-13
has been yet another vibrant and successful year for the Company. The company
achieved a growth of 11% in sales over the last year.
As has been in the
past, expansion program has been a continuous process for the Company. In the
year gone by, the Company has added THREE more Stretch Blow Moulding machines,
taking the total number of machines installed at their factory to TWENTY NINE.
The processing
capacity of the Company has now increased to 14940 MT per annum. The Company
envisages to expand its processing capacity further in the coming year too.
This year, they
have made a total investment in buildings, plant and machinery to the tune of
Rs.103.620 millions. They believe that, with this investment and the proposed
investments towards expansion for the year 2013-14, the Company is poised for
yet another year of significant growth.
During the year
under review, the raw material prices were under normal fluctuation. As the
Company is well covered through an indexing mechanism of pricing on a monthly
basis, the fluctuating raw material prices did not reflect much on the profits
of the Company.
POWER SITUATION:
The power
situation in Tamil Nadu was significantly bad this year, with almost 10-14
hours of power cut happening for most part of the financial year. This forced
the Company to run the Diesel Generators during power cut periods. The diesel
consumption during the year was 1.564 millions Liters procured for Rs.75.541
millions. This burden significantly affected the profits of the Company for the
year.
In spite of the
fact that they had 4 Wind Turbine Generators producing about 8.745 millions
Units of power, due to non-availability of power in the grid for most of the
times, they could not utilize for captive consumption 1.485 millions Units of
power generated by their WTGs. This also contributed to increased power cost.
EXPANSION AND DIVERSIFICATION:
Addition of
capability to process Poly Propylene (PP) material, apart from Poly Ethylene Terephthalate
(PET) has given a new thrust to their diversification efforts this year.
Reflecting its
quest for innovation, the Company was able to add new dimension to its
capability by installing a PF machine, ushering in a lateral process
capability. This enabled them to produce PET bottles in Single Step Process for
the first time in India to package Carbonated Soft Drinks (CSD). The launch of
PET bottles for carbonated soft drinks has truly been a matter of great
satisfaction and pride to the Company.
Apart from a
popular CSD brand, many other carbonated soft drinks manufacturers are expected
to repose their trust in their new effort.
The above apart,
the Company has taken several steps to diversify the customer portfolio. FMCG,
Pharma and Healthcare industry will be adding strength to their portfolio in
the year ahead.
The Company has
taken initiatives towards obtaining ISO 9001:2008 for its Quality Management
System and ISO 22000:2005 for its Food Safety Management System, which will go
a long way towards strengthening Company’s image and marketing potential.
By way of all the
above, the Company expects to experience a major jump in production and sales
during 2013-14, ensuring a steady growth path.
The Company
believes that in the year 2013-14 also, the interest rates, raw material prices
and power cost are going to be significant factors having some effect on the
profitability and performance of the Company.
However, as has been in the past years, the year 2013-14 is expected to
bring in substantial growth matched with good performance.
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Electrical Equipment
· Furniture and Fixtures
· Office Equipment
· Computers
· Vehicles
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.59.417 |
|
|
1 |
Rs.99.70 |
|
Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.