MIRA INFORM REPORT
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Report No. : |
317123 |
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Report Date : |
11.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNIPACK PACKAGING PRIVATE LIMITED |
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Registered
Office : |
C-8/8289, Vasant Kunj, New Delhi-110070 |
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Tel No.: |
91-120-2350896 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.05.2001 |
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Com. Reg. No.: |
55-110736 |
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Capital
Investment / Paid-up Capital : |
Rs. 22.350 Million |
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CIN No.: [Company Identification
No.] |
U74950DL2001PTC110736 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELU01897A |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of plastic molding components and insulation
tapes. |
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No. of Employees
: |
150 (Approximately) (Office) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behavior : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The rating is constrained due to low profitability of the company
during year under review. Further, the company also has huge amount of trade
receivables and payables which may affect its liquidity position during
FY2014. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some
caution. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Sanjay Jalan |
|
Designation : |
General Manager |
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Contact No.: |
91-9871591795 |
|
Date : |
10.04.2015 |
LOCATIONS
|
Registered Office : |
C-8/8289, Vasant Kunj, New Delhi-110070, India |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9871591795 (Mr. Sanjay Jalan) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Plot No.9, Mahila Udyami Park - II, Toy City Road, Greater Noida, (GB Nagar),
Noida, Uttar Pradesh, India |
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Tel. No.: |
91-120-2350896/ 97/ 98 |
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Fax No.: |
91-120-2350899 |
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Location : |
Owned |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mrs. Rashmi Kedia |
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Designation : |
Director |
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Address : |
C-8/8289, Vasant Kunj, New Delhi-110070, Delhi, India |
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Date of Appointment : |
08.05.2001 |
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DIN No : |
00105816 |
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Name : |
Mr. Alok Kedia |
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Designation : |
Director |
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Address : |
Sector - C, Pocket -8, Flat No. 8289, Vasant Kunj, New Delhi 110070, India |
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Date of Birth |
27.01.1969 |
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Date of Appointment : |
01.02.2014 |
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DIN No : |
00565146 |
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KEY EXECUTIVES
|
Name : |
Mr. Sanjay Jalan |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Rashi Kedia |
|
620000 |
|
Alok Kedia |
|
775000 |
|
Techno Builders Private Limited, India |
|
30000 |
|
Gopal Saraf (HUF) |
|
22500 |
|
Bimal Kumar Aggarwal |
|
60000 |
|
Lemcom Merchants Private Limited, India |
|
647500 |
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Fern Projects Private Limited |
|
40000 |
|
UPPL Foams Private Limited |
|
40000 |
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Total |
|
2235000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
33.89 |
|
Directors or relatives of Directors |
62.42 |
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Other top fifty shareholders |
3.69 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of plastic molding components and insulation
tapes. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
--- |
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Purchasing : |
Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
150 (Approximately) (Office) |
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Bankers : |
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Facilities : |
Long-term
Borrowings Nature of Security: Term loan from HDFC Bank Limited amounting to Rs.4.534 Million (31.03.2013 - Rs.6.4659 Million) is secured against Hypothecation of Plant & Machinery Vehicle Loan from Kotak Mahindra Prime Limited amounting to Rs.0.472 (31.03.2013: Rs.0.736) is secured against hypothecation of Delivery Van Terms of repayment: Term Loan is repayable in 64 monthly instalments commencing from 07.11.2010 and Last instalment due in FEB'2016 Term Loan is repayable in 64 monthly instalments commencing from 07.01.2011 and Last instalment due in APRIL'2016 Repayable in 59 monthly installments Commencing from 01.12.2010 and Last installment due in OCTO 2015 Sub Notes: Term Loan from HDFC Bank Limited is collaterally secured by three immovable properties detail of which is given here under :- I ) Mortgage of factory land and Building ii ) Residential flat of Director's relative iii) Personal guarantee of the Directors and their relatives Instalments falling due in respect of all the above loans up to 31.03.2015 have been grouped under "Current Maturities of Long Term Debts" Short-term
borrowings: Cash Credit facility from HDFC Bank Limited is primarily secured against hypothecation of stock and book debts AND equitable mortgage of factory land and building and residential flat of Director's relative and personal guarantee of the Directors and their relatives |
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Financial Institution: : |
ORIX Auto Infrastructure Services Limited Plot No. 94, Marol Co-Operative Industrial Estate, Andheri Kurla Road, Andheri (East), Mumbai - 400059, Maharashtra, India |
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Auditors : |
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Name : |
Wahi and Gupta Chartered Accountants |
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Address : |
Hotel Rex Building, (OBC Building), 5, Netaji Subhash Marg, Daryaganj,
New Delhi-110002, Delhi, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFW1086A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Million |
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,235,000 |
Equity Shares |
Rs.10/- each |
Rs. 22.350 Million |
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FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
22.350 |
22.350 |
22.350 |
|
(b) Reserves & Surplus |
36.341 |
33.240 |
30.710 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
4.650 |
4.650 |
4.650 |
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Total
Shareholders’ Funds (1) + (2) |
63.341 |
60.240 |
57.710 |
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|
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
72.302 |
82.614 |
84.411 |
|
(b) Deferred tax liabilities (Net) |
2.355 |
2.428 |
2.766 |
|
(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) |
74.657 |
85.042 |
87.177 |
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
28.385 |
26.526 |
16.952 |
|
(b) Trade
payables |
66.852 |
83.579 |
55.946 |
|
(c) Other
current liabilities |
16.815 |
16.613 |
19.867 |
|
(d) Short-term
provisions |
4.285 |
2.725 |
1.855 |
|
Total Current
Liabilities (4) |
116.337 |
129.443 |
94.620 |
|
|
|
|
|
|
TOTAL |
254.335 |
274.725 |
239.507 |
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
58.994 |
62.609 |
69.334 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.460 |
0.125 |
0.125 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.467 |
1.955 |
1.056 |
|
(e) Other Non-current
assets |
5.314 |
5.647 |
4.000 |
|
Total Non-Current
Assets |
73.235 |
70.336 |
74.515 |
|
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
60.482 |
78.702 |
62.132 |
|
(c) Trade receivables |
101.721 |
109.472 |
85.416 |
|
(d) Cash
and cash equivalents |
7.161 |
3.379 |
4.030 |
|
(e)
Short-term loans and advances |
11.163 |
11.926 |
12.505 |
|
(f) Other
current assets |
0.573 |
0.910 |
0.909 |
|
Total
Current Assets |
181.100 |
204.389 |
164.992 |
|
|
|
|
|
|
TOTAL |
254.335 |
274.725 |
239.507 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
350.000 |
350.371 |
333.228 |
|
|
|
Other Income |
(Approximately) |
1.015 |
3.196 |
|
|
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TOTAL |
|
351.386 |
336.424 |
|
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|
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|
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|
Less |
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TOTAL EXPENSES |
NA |
NA |
NA |
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|
PROFIT BEFORE
TAX |
NA
|
NA |
NA |
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|
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|
|
Less |
TAX |
NA |
NA |
NA |
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|
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|
PROFIT AFTER TAX
|
3.100 |
2.512 |
2.446 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.39 |
1.12 |
1.09 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales |
|
|
450.000 |
|
|
|
|
|
The above information has been parted by Mr. Sanjay Jalan (General
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA
|
0.72 |
0.73 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.59 |
1.81 |
1.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56 |
1.58 |
1.74 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
22.350 |
22.350 |
22.350 |
|
Reserves & Surplus |
30.710 |
33.240 |
36.341 |
|
Share Application money pending allotment |
4.650 |
4.650 |
4.650 |
|
Net worth |
57.710 |
60.240 |
63.341 |
|
|
|
|
|
|
long-term borrowings |
84.411 |
82.614 |
72.302 |
|
Short term borrowings |
16.952 |
26.526 |
28.385 |
|
Total borrowings |
101.363 |
109.140 |
100.687 |
|
Debt/Equity ratio |
1.756 |
1.812 |
1.590 |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From Directors |
8.995 |
5.350 |
|
From Others |
60.699 |
72.258 |
|
Total |
69.694 |
77.608 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10245655 |
20/09/2010 |
327,000.00 |
ORIX AUTO INFRASTRUCTURE SERVICES LIMITED |
PLOT NO. 94, MAROL CO-OPERATIVE INDUSTRIAL ESTATE, ANDHERI KURLA ROAD, ANDHERI (EAST), MUMBAI - 400059, MAHARASHTRA, INDIA |
A96524897 |
|
2 |
10206091 |
21/01/2010 |
620,000.00 |
ORIX AUTO INFRASTRUCTURE SERVICES LIMITED |
PLOT NO. 94, MAROL CO-OPERATIVE INDUSTRIAL ESTATE, ANDHERI KURLA ROAD, ANDHERI (EAST), MUMBAI - 400059, MAHARASHTRA, INDIA |
A79822326 |
|
3 |
10168067 |
29/11/2011 * |
49,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
B73871956 |
|
4 |
80054897 |
29/11/2011 * |
49,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
B73871204 |
|
5 |
90058159 |
26/06/2003 * |
5,000,000.00 |
ANDHRA BANK |
R.K. PURAM, SECTOR - 6, NEW DELHI, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
- A Commitment of Rs.652 Million in favor of Jaypee Infratech for acquire of plot, which will paid after 31.03.2014.
- A Commitment of Rs.23.805 Million in favour of HSIIDC for acquire of plot, which will paid after 31.03.2014.
FIXED ASSETS
- Factory Land
- Factory
Building
- Plant and
Machinery
- Generator
- Electrical
Installation
- Furniture and
Fixture
- Office
Equipments
- Computer
- Delivery Van
- Scooter
- Car
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 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.62.37 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
32 |
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.