MIRA INFORM REPORT

 

 

Report No. :

317156

Report Date :

16.04.2015

 

IDENTIFICATION DETAILS

 

Name :

SUNRISE CONTAINERS LIMITED

 

 

Registered Office :

405, Acme Industriial Park, Off I B Patel Road, Goregaon (East), Mumbai – 400063, Maharashtra

 

 

Tel. No.:

91-22-26861701

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.06.1986

 

 

Com. Reg. No.:

11-040194

 

 

Capital Investment / Paid-up Capital :

Rs. 89.100 Million

 

 

CIN No.:

[Company Identification No.]

U28129MH1986PLC040194

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS35824F

 

 

PAN No.:

[Permanent Account No.]

AABCS5997C

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturing and Selling of Pet Performs and Pet Jar and Bottles.

 

 

No. of Employees :

40 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (52)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 2690000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The company has reported an increase in its sales turnover and net profit during the financial year 2013-14.

 

The company possesses healthy financial risk profile marked by healthy profitability, sufficient debt-coverage measures and adequate liquidity.

 

Trade relations are fair. Business is active. Payments are reported to be usually correct.

 

The company 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 – 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

Fund based limits: “A-”

Rating Explanation

Adequate degree of safety and low credit risk.

Date

June, 2014

 

Rating Agency Name

ICRA

Rating

Non-fund based limits: “A1”

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

June, 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 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Ms. Snehal Dudhekar

Designation :

Office Executive

Contact No.:

91-22-26861701

Date :

13.04.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

405, Acme Industriial Park, Off I B Patel Road, Goregaon (East), Mumbai – 400063, Maharashtra, India

Tel. No. :

91-22-26861701

Fax No. :

91-22-26862714

E-Mail :

finance@sunrisecontainers.com

finance@sunpet.in

sunpet@mtnl.net.in

info@sunpet.in

Website :

www.sunrisecontainers.com

www.sunpet.ins

Location :

Owned

 

 

Factory 1:

Survey No. 215/3, Piparia, Village Silvassa – 396230, Dadra and Nagar Haveli (U.T.), India

Tel. No. :

91-260-2640542

Fax No. :

91-260-2640828

E-Mail :

scl.silvassa@sunpet.in

 

 

Factory 2:

Gala No. F-18 to 30 & G-1 to 4, Zero Tax Industrial Estate, Dadra - 396 193, Dadra and Nagar Haveli (U.T.), India

Tel. No. :

91-260-2669512

Fax No. :

91-260-2669513

E-Mail :

scl.dadra@sunpet.in

 

 

Factory 3:

Survey No. 45/10, Dehri - Umbergaon Station Road,  Village Dehri, Dist. Valsad,  Umbergaon - 396170, Gujrat, India

Tel. No. :

91-260-2562072

E-Mail :

scl.umbergaon@sunpet.in

 

 

Factory 4:

Plot No. 6 & 7, Integrated Industrial Estate, Sector No.2 Haridwar - 249403
Uttarakhand, India

Tel. No. :

91-1334-234078

Fax No. :

91-1334-232209

E-Mail :

scl.haridwar@sunpet.in

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Kanhaiyalal Mannalal Mundhra

Designation :

Managing Director

Address :

601, Millinium Park, Upavan Layout, Upper Govind Nagar, C-Wing, Malad  (East), Mumbai – 400097, Maharasahtra, India

Date of Birth/Age :

01.01.1944

Qualification :

B.Com.

Date of Appointment :

01.09.2005

PAN No.:

AADPM9403G

DIN No. :

00087385

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

Company/ LLP Status

Defaulting status

1

U28129MH1986PLC040194

SUNRISE CONTAINERS LIMITED

Managing director

01-09-2005

23-06-1986

Active

NO

2

U17226MH1986PTC040925

CLEAR POLYPLAST INDIA PRIVATE LIMITED

Director

17-09-1986

17-09-1986

Active

NO

3

U65993MH1988PTC047557

MANNALAL INVESTMENT AND TRADING COMPANY PRIVATE LIMITED

Director

02-06-1988

02-06-1988

Amalgamated

NO

4

U25209MH1989PTC050912

HITESH PLASTICS PRIVATE LIMITED

Director

01-04-1993

01-04-1993

Active

NO

 

 

Name :

Mr. Hitesh Kumar Mundhra

Designation :

Additional director

Address :

Flat No.601, 6th Floor, Millenium Garden, Plot 182, Upper Govind Nagar, Malad (East), Mumbai - 400097, Maharashtra, India

Date of Birth/Age :

B.Com.

Date of Appointment :

23.11.2011

DIN No. :

00087454

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

Company/ LLP Status

Defaulting status

1

U25209MH1989PTC050912

HITESH PLASTICS PRIVATE LIMITED

Director

10-04-2005

10-04-2005

Active

NO

2

U28129MH1986PLC040194

SUNRISE CONTAINERS LIMITED

Additional director

23-11-2011

23-11-2011

Active

NO

 

 

Name :

Mr. Dwarka Prasad Mundhra

Designation :

Director

Address :

401, Santosh Apartment, 25 Raghunath Avenue, Kil Park, Chennai - 400006, Tamilnadu, India

Date of Birth/Age :

20.06.1958

Qualification :

B.Com.

Date of Appointment :

12.12.1997

DIN No. :

00091662

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

Company/ LLP Status

Defaulting status

1

U28129MH1986PLC040194

SUNRISE CONTAINERS LIMITED

Director

12-12-1997

12-12-1997

Active

NO

2

U65990MH1988PTC047293

D K MUNDHRA INVESTMENT AND TRADING PRIVATE LIMITED

Director

01-04-1999

01-04-1999

Amalgamated

NO

 

 

Name :

Mr. Devkishan Mannalal Mundhra

Designation :

Director

Address :

401, Millinium Park, Upavan Layout, Upper Govind Nagar, C-Wing, Malad  (East), Mumbai – 400097, Maharashtra, India

Date of Birth/Age :

15.06.1950

Qualification :

B.Com.

Date of Appointment :

23.06.1986

DIN No. :

00095233

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

Company/ LLP Status

Defaulting status

1

U28129MH1986PLC040194

SUNRISE CONTAINERS LIMITED

Director

23-06-1986

23-06-1986

Active

NO

2

U17226MH1986PTC040925

CLEAR POLYPLAST INDIA PRIVATE LIMITED

Director

17-09-1986

17-09-1986

Active

NO

3

U65990MH1988PTC047293

D K MUNDHRA INVESTMENT AND TRADING PRIVATE LIMITED

Director

09-05-1988

09-05-1988

Amalgamated

NO

 

 

KEY EXECUTIVES

 

Name :

Ms. Snehal Dudhekar

Designation :

Office Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

 

Kanhaiyalal Mundhra

771900

Devkishan Mundhra

30000

D.K.Mundha Investment and Trading Private Limited, India

1950000

Mannalal Investment and Trading Private Limited, India

1968000

Santoshkumar Mundhra

135000

Shreekishan Mundhra

12000

Dwarka Prasad Mundhra

94200

K.L Mundhra Investment and Trading Private Limited, India

1868400

Shreekishan Mundhra HUF

6000

Chanda Devi Mundhra

294600

Bhagwati Devi Mundhra

6000

Umesh Kumar Mundhra

117000

Devkishan Mundhra HUF

6000

Hitesh Kumar Mundhra

562800

Dinesh Kumar Mundhra

117000

K.L. Mundhra HUF

657900

Rajesh Kumar Mundhra

16200

Hitesh Plastics Private Limited , India

297000

Total

8910000

 

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Bodies corporate

68.28

Directors or relatives of Directors

31.72

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Selling of Pet Performs and Pet Jar and Bottles.

 

 

Products :

Item Code No. (ITC Code)

Product Description

39239090

Pet Preforms

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Pet Preforms

Countries :

Gulf Countries

 

 

Imports :

 

Products :

Pet Jars

Countries :

China

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

P.R. Packaging, Daman

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

Reference:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Since How Long Known:

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remarks :

Not Divulged

 

 

No. of Employees :

40 (Approximately)

 

 

Bankers :

Bank Name:

Citibank N. A.

Branch:

1st Floor, Kalapurnam, Nr. Municipal Market, C. G. Road, Navrangpura, Ahmedabad - 380009, Gujarat, India

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks: Not Divulged

 

·         State Bank of India, IFB, Natraj Building, 102, 1st Floor, 194, Sir M V Road Western Express Highway, Andheri (East), Mumbai - 400069, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Rupee term loans from banks

(Land, Building, Plant and Machinery at Dadra, Silvassa and Haridwar, and all other fixed assets of the company)

102.939

103.498

Loans taken for vehicles

0.281

0.802

SHORT TERM BORROWINGS

 

 

Foreign currency term loans from banks

(Packing credit limit in foreign currentcy, Secured by present and

future raw material, stock in process, finished good and all other fixed assets and book debts)

49.645

34.646

Working capital loans from banks

(Secured by present and future raw material, stock in process, finished good and all other fixed assets and book debts)

167.940

199.127

Other loans and advances, others

95.957

0.000

Total

416.762

338.073

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Jain Vijay and Company

Chartered Accountants

Address :

305 , Sona Chambers, 507/509 Chira Bazar, Mumbai - 400002, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AACPJ0536E

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associated Company Under Significant influence of Key Management and their relatives:

·         H.K.Moulders

·         Sunpet Industrial Corporation

·         Hitesh Plastics Private Limited

·         Crystal Containers

·         Clear Pack Containers

·         M-Pet Containers Private Limited

·         Shree Traders

·         Mundhra Assocaites

·         K.L. Mundhra Investment and Trading Private Limited

·         D.K. Mundhra Investment and Trading Private Limited

·         Mannalal Investment and Trading Private Limited

·         Seth Suganchand Mundhra Memorial Trust

·         C.M. Mundhra Memorial Charitable Trust

·         Sun Packaging Systems (FZC)

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15,000,000

Equity Shares

Rs.10/- each

Rs. 150.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

8,910,000

Equity Shares

Rs.10/- each

Rs. 89.100 Million

 

 

 

 

 

 

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

89.100

89.100

89.100

(b) Reserves & Surplus

851.156

777.627

728.571

(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)

940.256

866.727

817.671

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term Borrowings

149.058

230.531

111.964

(b) Deferred Tax Liabilities (Net)

58.098

54.273

45.005

(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)

207.156

284.804

156.969

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term Borrowings

313.542

233.773

83.215

(b) Trade Payables

54.359

62.444

69.737

(c) Other Current Liabilities

116.743

135.925

62.013

(d) Short-term Provisions

10.424

10.425

0.651

Total Current Liabilities (4)

495.068

442.567

215.616

 

 

 

 

TOTAL

1642.480

1594.098

1190.256

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-Current Assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible Assets

887.076

848.446

584.548

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

1.801

4.303

8.033

(iv) Intangible assets under Development

0.000

0.000

0.000

(b) Non-current Investments

0.001

0.001

0.001

(c) Deferred Tax Assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

81.084

96.519

46.012

(e) Other Non-Current Assets

0.000

0.000

0.000

Total Non-Current Assets

969.962

949.269

638.594

 

 

 

 

(2) Current Assets

 

 

 

(a) Current Investments

0.000

0.000

0.000

(b) Inventories

265.906

182.286

212.927

(c) Trade Receivables

296.586

369.918

260.307

(d) Cash and Cash Equivalents

8.296

14.067

18.027

(e) Short-term Loans and Advances

100.885

77.947

59.849

(f) Other Current Assets

0.845

0.611

0.552

Total Current Assets

672.518

644.829

551.662

 

 

 

 

TOTAL

1642.480

1594.098

1190.256

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

2662.320

2240.725

1929.481

 

 

Other Income

14.378

39.880

7.951

 

 

TOTAL                                     (A)

2676.698

2280.605

1937.432

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

1733.959

1460.714

1219.334

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

-1.445

7.445

8.837

 

 

Employees benefits expense

80.786

70.196

48.095

 

 

Other expenses

558.854

505.874

425.993

 

 

TOTAL                                     (B)

2372.154

2044.229

1702.259

 

 

 

 

 

 

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

304.544

236.376

235.173

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

67.986

42.530

37.679

 

 

 

 

 

 

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

236.558

193.846

197.494

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

112.750

98.662

92.698

 

 

 

 

 

 

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

123.808

95.184

104.796

 

 

 

 

 

Less

TAX                                                                  (H)

39.855

35.704

23.876

 

 

 

 

 

 

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

83.953

59.480

80.920

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

508.439

379.475

230.915

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

399.477

216.064

145.462

 

 

Components and Spare Parts

13.322

6.031

3.121

 

 

Capital Goods

5.635

10.628

51.037

 

TOTAL IMPORTS

418.434

232.723

199.620

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

9.42

6.68

9.08

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

3.15

2.65

4.19

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

11.44

10.55

12.19

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.55

5.99

8.86

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.11

0.13

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.49

0.54

0.24

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.36

1.46

2.56

 

 

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

89.100

89.100

89.100

Reserves & Surplus

728.571

777.627

851.156

Net worth

817.671

866.727

940.256

 

 

 

 

Long-term Borrowings

111.964

230.531

149.058

Short-term Borrowings

83.215

233.773

313.542

Total borrowings

195.179

464.304

462.600

Debt/Equity ratio

0.239

0.536

0.492

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1929.481

2240.725

2662.320

 

 

16.131

18.815

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1929.481

2240.725

2662.320

Profit

80.920

59.480

83.953

 

4.19%

2.65%

3.15%

 

 

 

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

Yes

17]

Major suppliers

Yes

18]

Major customers

No

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

No

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

10368236

26/03/2013 *

150,000,000.00

CITIBANK N. A.

1ST FLOOR, KALAPURNAM, NR. MUNICIPAL MARKET, C. G. ROAD, AHMEDABAD - 380009, GUJARAT, INDIA

B74792664

2

10355452

26/03/2013 *

100,000,000.00

CITIBANK N. A.

1ST FLOOR, KALAPURNAM,, NR. MUNICIPAL MARKET, C. G. ROAD, NAVRANGPURA, AHMEDABAD - 380009, GUJARAT, INDIA

B74793381

3

90240416

04/12/2013 *

464,200,000.00

STATE BANK OF INDIA

IFB, NATRAJ BUILDING, 102, 1ST FLOOR, 194,, SIR M
V ROAD WESTERN EXPRESS HIGHWAY, ANDHERI (EAST), MUMBAI - 400069, MAHARASHTRA, INDIA

B95531588

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Intercorporate borrowings

45.838

52.943

Loans and advances from directors

0.000

73.288

Total

45.838

126.231

 

 

CORPORATE INFORMATION

 

Subject is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. It is a closely held Company. The company is engaged in the manufacturing and selling of Pet performs and Pet Jar and Bottles. The Company has four units situated at Silvassa, Dadra Umbergaon and Haridwar. The company caters to both domestic and international markets.

 

FIXED ASSETS

 

Tangible Assets

·         Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipments

 

 

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 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

UK Pound

1

Rs.91.60

Euro

1

Rs.66.49

 

 

INFORMATION DETAILS

 

Information Gathered by :

RKH

 

 

Analysis Done by :

SUC

 

 

Report Prepared by :

MRI

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--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

 

52

 

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

 

--

 

 

 

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.