MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

VEER PLASTICS PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMV0000501E

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

Information declined by the management 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of HDPE Woven Sacks.

 

 

Products :

·         HDPE/ PP Bags

·         FIBC’s

·         Fabrics

·         Non-Woven

 

 

GENERAL INFORMATION

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

·         State Bank of India, Commercial Branch, 3rd Floor, Paramsidhi Complex, Opposite V. S. Hospital, Ellisbridge, Ahmedabad-380006, Gujarat, India

·         Punjab National Bank, Sola Road, Bhuyangdev Char Rasta, Ghatlodia, Ahmedabad-380061, Gujarat, India

 

 

Facilities :

Secured Loan

As on 31.03.2013

[Rs. in Millions]

As on 31.03.2012

[Rs. in Millions]

Long Term Borrowings

 

 

Term loans from banks

207.511

126.923

Others loans and advances

0.000

0.586

 

 

 

Short Term Borrowings

 

 

Working capital loans from banks

328.471

378.116

TOTAL

535.982

505.625

 

 

 

Unsecured Loan

As on 31.03.2013

[Rs. in Millions]

As on 31.03.2012

[Rs. in Millions]

Long Term Borrowings

 

 

Deposits

85.480

86.551

 

 

 

Short Term Borrowings

 

 

Loans and advances from related parties

97.656

19.154

TOTAL

184.207

25.705

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Shah and Shah Associates

Chartered Accountant

Address :

702, Aniket , Near Municipal Market, C G Road, Navrangapura, Ahmedabad – 380009, Gujarat, India

PAN No:

AAHFS7036F

 

 

Group Companies where Common Control Exists:

·         Damodar Polyfab Private Limited

·         Harjiv Packaging Private Limited

·         Gyan Marketing Private Limited

·         Karan Polypack Private Limited

·         Karan Synthetic (India) Private Limited

·         Dura Syntex Limited

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2013

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED.

 

 

 

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

76.550

76.550

76.550

(b) Reserves & Surplus

320.576

297.762

267.068

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

5.000

5.000

Total Shareholders’ Funds (1) + (2)

397.126

379.312

348.618

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

292.991

214.060

144.367

(b) Deferred tax liabilities (Net)

33.896

36.086

34.935

(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)

326.887

250.146

179.302

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

426.127

397.270

436.595

(b) Trade payables

104.113

96.085

71.674

(c) Other current liabilities

0.000

0.000

0.000

(d) Short-term provisions

87.161

76.106

65.305

Total Current Liabilities (4)

617.401

569.461

573.574

 

 

 

 

TOTAL

1341.414

1198.919

1101.494

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

478.907

461.681

463.583

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

14.014

19.767

7.185

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

27.984

25.484

25.483

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

24.950

60.457

23.936

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

545.855

567.389

520.187

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

296.973

348.458

290.599

(c) Trade receivables

291.932

135.702

113.451

(d) Cash and cash equivalents

39.544

28.679

49.983

(e) Short-term loans and advances

133.577

93.216

108.407

(f) Other current assets

33.533

25.475

18.867

Total Current Assets

795.559

631.530

581.307

 

 

 

 

TOTAL

1341.414

1198.919

1101.494

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

 

 

SALES TURNOVER                                            (A)

2227.553

2206.998

2336.982

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

NA

NA

NA

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

188.568

179.256

154.052

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

80.882

78.946

42.754

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

107.686

100.310

111.298

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

69.898

63.214

58.143

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                 (G)

37.788

37.096

53.155

 

 

 

 

 

Less

TAX                                                                  (H)

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

NA

NA

NA

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

421.823

387.652

310.757

 

 

Foreign Traveling

0.688

0.829

0.000

 

 

Sales Commission

4.232

0.654

0.000

 

TOTAL EARNINGS

426.743

389.135

310.757

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

123.610

87.922

NA

 

 

Stores & Spares

0.466

0.000

NA

 

 

Plant and Machineries

3.662

0.100

NA

 

TOTAL IMPORTS

127.738

88.022

NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

NA

NA

NA

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

LOCATIONS

 

Registered/ Head Office :

104, Sardar Patel Colony, 1st Floor, Stadium Road, Post Navjivan, Ahmedabad-380014, Gujarat, India

Tel. No.:

91-79-27681159

Fax No.:

91-79-27680550

E-Mail :

veerplas@gmail.com

harjeev@veerplastics.com

karanjeev@veerplastics.com

Website :

http://www.veerplastics.com

Location :

Owned

 

 

Factory 1 :

Block No.327, Santej – Vadsar Road, Santej, District Gandhi Nagar, Gujarat, India

Location :

Owned

 

 

Factory 2 :

7/1, GIDC Estate, Kadi, North Gujarat, India

Location :

Owned

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.