MIRA INFORM REPORT
|
Report No. : |
351907 |
|
Report Date : |
01.21.2015 |
IDENTIFICATION DETAILS
|
Name : |
VACMET INDIA LIMITED (w.e.f 11.09.2009) |
|
|
|
|
Formerly Known
As : |
VACMET PACKAGINGS
( |
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|
|
Registered Office
: |
Anant Plaza, 2nd Floor, 4/117-2A, Civil Lines, Church Road,
Agra – 282002, Uttar Pradesh |
|
Tel. No.: |
91-562-4050400 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
03.03.1993 |
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|
|
|
Com. Reg. No.: |
20-034039 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.142.889 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899UP1993PLC034039 |
|
|
|
|
IEC No.: |
0692004246 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AGRV10053B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV5120B |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Polyester Film. |
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|
|
|
No. of Employees
: |
700 (Approximately) |
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 |
|
Maximum Credit Limit: |
USD |
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|
|
|
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 was founded by Mr. Dinesh Chand Agarwal in Agra (Uttar Pradesh)
in 1993. It is established company having satisfactory track record. The company has established market presence in flexible packaging
industry and it has achieved significant growth in its turnover and profit. The rating also takes into consideration company sound networth base,
good operating efficiency and favorable gap between trade payables and trade
receivables. Trade relations are reported as fair. Business is active. Payments are
reported as usually correct and as per commitments. The company can be considered normal 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
CRISIL |
|
Rating |
Term Loans : BBB |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
March, 2015 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Govind |
|
Designation : |
DGM Finance |
|
Contact No.: |
91-562-4050400 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-562-2525466/ 4050400 / 4050401 |
|
Fax No.: |
91-562-2151188/2851128 |
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E-Mail : |
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|
Website : |
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Factory 1: |
110 Km Stone, Delhi National Highway, Chhata, District Mahtura – 281401,
Uttar Pradesh, India |
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Factory 2: |
Unit No.1, Plot No. B-5, UPSIDC Industrial Area, Sikandra, Agra –
282007, Uttar Pradesh, India |
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Factory 3: |
Unit No. II, A-4/1, UPSIDC Industrial Area, Kotwan Kosikalan, Mathura – 281403, Uttar Pradesh, India |
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Factory 4: |
Unit No. III, A-5 and C-7, UPSIDC Industrial Area, Kotwan Kosikalan, Mathura – 281403, Uttar Pradesh, India |
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Branch Office: |
104/106, Tribuvan Complex, New Friends Colony, Mathura Road, New Delhi,
India |
DIRECTORS
AS ON: 26.09.2014
|
Name : |
Mrs. Agarwal Rekha |
|
Designation : |
Director |
|
Address : |
4/117 E, Civil Lines, Church Road, Agra – 282003, Uttar Pradesh, India
|
|
Date of Birth/Age : |
05.11.1952 |
|
Date of Appointment : |
26.09.2014 |
|
DIN No.: |
01826912 |
|
|
|
|
Name : |
Mr. Dinesh Chand Agarwal |
|
Designation : |
Managing Director |
|
Address : |
4/117 E, Civil Lines, Church Road, Agra-282002, |
|
Date of Birth/Age : |
15.01.1949 |
|
Date of Appointment : |
01.12.2012 |
|
DIN No.: |
00472703 |
|
DIN No.: |
00472773 |
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|
|
|
Name : |
Mr. Padam Chand Agarwal |
|
Designation : |
Whole-Time Director |
|
Address : |
4/117 B, Civil Lines, Church Road, Agra-282002, |
|
Date of Birth/Age : |
08.03.1944 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
00007191 |
|
|
|
|
Name : |
Mr. Raj Narain Agarwal |
|
Designation : |
Director |
|
Address : |
4/117 C, Civil Lines, Church Road, Agra-282002, |
|
Date of Birth/Age : |
05.05.1947 |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
00472736 |
|
|
|
|
Name : |
Mr. Mayank Agarwal |
|
Designation : |
Director |
|
Address : |
4/117 E, Civil Lines, Church Road, Agra-282002, |
|
Date of Birth/Age : |
12.11.1976 |
|
Date of Appointment : |
24.03.2014 |
|
DIN No.: |
00513665 |
|
|
|
|
Name : |
Mr. Nitin Agarwal |
|
Designation : |
Whole-time director |
|
Address : |
4/117 C, Civil Lines, Church Road, Agra-282002, |
|
Date of Birth/Age : |
22.07.1969 |
|
Date of Appointment : |
24.03.2014 |
|
DIN No.: |
01826926 |
|
|
|
|
Name : |
Mr. Rahul Agarwal |
|
Designation : |
Whole-time director |
|
Address : |
4/117 C, Civil Lines, Church Road, Agra-282002, |
|
Date of Birth/Age : |
02.05.1970 |
|
Date of Appointment : |
24.03.2014 |
|
DIN No.: |
01232503 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Srivastava |
|
Designation : |
Director |
|
Address : |
S-376, Ground Floor, Panchshila Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
20.03.1957 |
|
Date of Appointment : |
12.08.2011 |
|
DIN No.: |
00302223 |
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|
|
|
Name : |
Mr. Siddharth Lal |
|
Designation : |
Director |
|
Address : |
12, Ishwar Nagar, New Delhi – 110065, India |
|
Date of Birth/Age : |
09.04.1976 |
|
Date of Appointment : |
12.08.2011 |
|
DIN No.: |
03312590 |
|
|
|
|
Name : |
Akshay Bector |
|
Designation : |
Additional Director |
|
Address : |
House No. C-13, PO - Sarabha Nagar, Ludhiana -141001, Punjab, India |
|
Date of Appointment : |
14.03.2015 |
|
DIN No.: |
00058877 |
|
|
|
|
Name : |
Yogesh Agarwal |
|
Designation : |
Additional Director |
|
Address : |
151/152, Jolly Maker Apartments - II, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
|
Date of Appointment : |
14.03.2015 |
|
DIN No.: |
00947896 |
KEY EXECUTIVES
|
Name : |
Mr. Govind |
|
Designation : |
DGM Finance |
|
|
|
|
Name : |
Mr. Ambrish Dwivedi |
|
Designation : |
Company Secretary |
|
Address : |
117-L-205, Naveen Nagar, Kakadeo, Kanpur – 208025, Uttar Pradesh,
India |
|
Date of Birth/Age : |
31.05.1981 |
|
Date of Appointment : |
06.04.2012 |
|
PAN No. : |
AJHPD2631A |
|
|
|
|
Name : |
Predeep Kumar Gupta |
|
Designation : |
CFO [Chief Financial Officer] |
|
Address : |
E-203, Royal Residency, D-11, Sector-44, Noida - 201301, Uttar Pradesh, India |
|
Date of Appointment : |
14.03.2015 |
|
PAN No. : |
AAAPG5381Q |
MAJOR SHAREHOLDERS
AS ON: 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Chand Agarwal |
|
3989000 |
|
Raj Narain Agarwal |
|
1345000 |
|
Suresh Chand Agarwal |
|
554500 |
|
Padam Chand Agarwal |
|
195500 |
|
Nitin Agarwal |
|
205000 |
|
Rahul Agarwal |
|
190500 |
|
Mayank Agarwal |
|
170814 |
|
Shailendra Agarwal |
|
133000 |
|
|
|
20000 |
|
Umesh Agarwal |
|
68000 |
|
Bimla Agarwal |
|
23000 |
|
Sudha Agarwal |
|
29000 |
|
Sangeeta Agarwal |
|
25000 |
|
Rekha Agarwal |
|
42000 |
|
Shalini Agarwal |
|
67000 |
|
Neeta Agarwal |
|
23000 |
|
Rajni Agarwal |
|
15000 |
|
Manoj Agarwal |
|
32000 |
|
Pawan Agarwal |
|
23000 |
|
Deepak Agarwal |
|
25000 |
|
Manjuri Agarwal |
|
83500 |
|
Kirti Agarwal |
|
25000 |
|
Swati Agarwal |
|
10000 |
|
Priyanka Agarwal |
|
15000 |
|
Ravi Agarwal |
|
17000 |
|
Shilpa Agarwal |
|
1000000 |
|
Vacmet Finance and Investments Limited, India |
|
1050000 |
|
KMC Portfolio
Private Limited, India |
|
1350000 |
|
Ganpati Fincap
Services Private Limited, India |
|
250000 |
|
Shushre Securities
Private Limited, India |
|
200100 |
|
India Agri Business Fund Limited, India |
|
3102062 |
|
Real Trust, India |
|
10895 |
|
TOTAL |
|
14288871 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 26.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companies(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
21.70 |
|
Bodies corporate |
20.03 |
|
Directors or relatives of Directors |
58.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Polyester Film. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
European Country |
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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 : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesaler and Retailers and Manufacturer
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No. of Employees : |
700 (Approximately) |
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Bankers : |
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Facilities : |
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Financial Institute: |
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Auditors 1 : |
|
|
Name : |
Tondon Mital and Associates Chartered Accountants |
|
Address : |
F-5, |
|
Tel. No.: |
91-562-4004525/ 2526449/ 3298751 |
|
PAN.: |
AAAFT8324N |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Walker Chandiok and Company Chartered Accountants |
|
Address : |
L-41, Connaught Circus, New Delhi - 110001, India |
|
PAN.: |
AAAFW4298E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Entities where
significant influence is exercised by Key Management Personnel and/ or their relatives
having transactions with the Company: |
|
|
|
|
|
Subsidiary company
: |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14288871 |
Equity Shares |
Rs.10/- each |
Rs.142.889
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 |
142.889 |
142.889 |
142.889 |
|
(b) Reserves & Surplus |
2223.252 |
2086.645 |
2076.916 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
1.276 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2366.141 |
2229.534 |
2221.081 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2377.669 |
2619.321 |
2495.878 |
|
(b) Deferred tax liabilities
(Net) |
278.705 |
193.654 |
189.507 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.469 |
2.356 |
1.903 |
|
Total
Non-current Liabilities (3) |
2660.843 |
2815.331 |
2687.288 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1208.574 |
674.032 |
653.201 |
|
(b) Trade payables |
337.287 |
378.073 |
197.397 |
|
(c) Other current liabilities |
1373.661 |
890.725 |
872.303 |
|
(d) Short-term provisions |
0.652 |
1.756 |
0.273 |
|
Total
Current Liabilities (4) |
2920.174 |
1944.586 |
1723.174 |
|
|
|
|
|
|
TOTAL |
7947.158 |
6989.451 |
6631.543 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5353.206 |
5328.723 |
3247.661 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
15.934 |
50.095 |
1805.320 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.812 |
0.812 |
0.812 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
151.999 |
60.556 |
82.262 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
5521.951 |
5440.186 |
5136.055 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
847.169 |
614.317 |
510.410 |
|
(c) Trade receivables |
893.310 |
527.885 |
363.674 |
|
(d) Cash and cash equivalents |
463.217 |
180.068 |
418.226 |
|
(e) Short-term loans and
advances |
153.888 |
176.428 |
171.536 |
|
(f) Other current assets |
67.623 |
50.567 |
31.642 |
|
Total
Current Assets |
2425.207 |
1549.265 |
1495.488 |
|
|
|
|
|
|
TOTAL |
7947.158 |
6989.451 |
6631.543 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10268.419 |
7226.208 |
4579.149 |
|
|
|
Other Income |
16.481 |
23.014 |
52.010 |
|
|
|
TOTAL |
10284.900 |
7249.222 |
4631.159 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
7246.809 |
5366.193 |
3294.922 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(99.914) |
(27.536) |
(120.547) |
|
|
|
Employee benefit expense |
224.222 |
160.514 |
108.928 |
|
|
|
Other expenses |
1849.414 |
1457.783 |
1061.309 |
|
|
|
Prior period items |
0.000 |
0.167 |
0.000 |
|
|
|
Exceptional Items |
0.000 |
(253.625) |
0.000 |
|
|
|
TOTAL |
9220.531 |
6703.496 |
4344.612 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1064.369 |
545.726 |
286.547 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
193.728 |
201.218 |
121.141 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
870.641 |
344.508 |
165.406 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
648.937 |
331.800 |
254.405 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
221.704 |
12.708 |
(88.999) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
85.097 |
4.255 |
(29.594) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
136.607 |
8.453 |
(59.405) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
2914.940 |
1682.799 |
701.294 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
1874.612 |
1403.023 |
256.894 |
|
|
|
Components and Stores parts |
31.263 |
19.584 |
0.000 |
|
|
|
Capital Goods |
124.802 |
159.553 |
1682.468 |
|
|
|
TOTAL IMPORTS |
2030.677 |
1582.160 |
1939.362 |
|
|
|
|
|
|
|
|
|
|
Earnings /(Loss)
Per Share (Rs.) |
9.56 |
0.59 |
(4.34) |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
12000.000 |
The above information has been parted by Mr. Govind.
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
678.953 |
136.349 |
665.781 |
|
Net cash flows from (used in) operating activities |
609.835 |
119.828 |
587.518 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.33 |
0.12 |
(1.30) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
10.37 |
7.55 |
6.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.80 |
0.18 |
(1.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.01 |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.52 |
1.48 |
1.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.83 |
0.80 |
0.87 |
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 |
142.889 |
142.889 |
142.889 |
|
Reserves & Surplus |
2076.916 |
2086.645 |
2223.252 |
|
Money
received against share warrants |
1.276 |
0.000 |
0.000 |
|
Net worth |
2221.081 |
2229.534 |
2366.141 |
|
|
|
|
|
|
long-term borrowings |
2495.878 |
2619.321 |
2377.669 |
|
Short term borrowings |
653.201 |
674.032 |
1208.574 |
|
Total borrowings |
3149.079 |
3293.353 |
3586.243 |
|
Debt/Equity ratio |
1.418 |
1.477 |
1.516 |
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 |
4579.149 |
7226.208 |
10268.419 |
|
|
|
57.807 |
42.100 |
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 |
4579.149 |
7226.208 |
10268.419 |
|
Profit/Loss |
(59.405) |
8.453 |
136.607 |
|
|
(1.30%) |
0.12% |
1.33% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from directors |
61.368 |
69.010 |
|
|
|
|
|
Total |
61.368 |
69.010 |
OVERVIEW
Vacmet is engaged in the business of manufacturing Polyester, Polypropylene and Specialty Coated Films and Paper. Vacmet caters to a wide markets be that in Packaging, Textile, Medical, Security, Labelling or Decoration. Vacmet is one of the fastest growing company in this field in India.
Company sells under trademarks VACOPET for Polyester Films, VACOPP for BOPP films, and VACOHOLO for Holographic Films, VACOMET for Metallized Films and VACOPAP for Metallized Paper.
Further company has already applied for new trade’s marks for its specialty range such as VACOPEEL for Peelable films, VACOBARRIER for barrier films VACOTRANSFER and VACOCOAT for coated materials.
Company with its integrated business model is poised to continue to grow in coming years. Downstream business of Metallisation and Specialty Coatings helps in product diversification and working in much larger markets than just packaging.
As part of their growth plans, company plans to Invest in adding Polyester film, Polypropylene films capacities along-with enhancing its coating and metallization capacities. Company also plans to back-ward integrate its Polyester film business by setting up PET Chips Manufacturing which works as resin for the Polyester Film business. Company has interest to broaden its product base and is likely to get into manufacturing of CPP films in times to come. Decision to invest in additing capacities is based on growth fundamentals of Packaging in India which has shown double digit growth and expected to grow for next 5 years.
FUTURE PLANS AND
STRATEGY
In order to keep pace with the growing demand locally and internationally company plans to invest in capacity additions going forward. Company has given its Investment proposal plans to various State Governments in the country and is looking forward to receiving response from their side.
Today, company exports to 70 countries world-wide and has global acceptance of its products. This has been demonstrated well by receiving exports Awards from Plexcouncil, Ministry of Commerce, and every year for last 10 years.
Lot of efforts in reduction of power and fuel has been made in last couple of years which remains biggest single expense after raw material. Concentrated efforts will be made to control this costs and to possibly work for further cost reduction.
Back-ward integration by setting up PET Chips plant will help in achieving cost competitiveness. It will also allow company to do its own development than to depend on others. Just in time management of raw material will also improve product efficiencies.
Company has plans for bigger role for its European Subsidiary Vacmet Europe Limited which is presently working as a trading arm in the European market. Company intends to acquire distribution and mid-size manufacturing company in Europe and integrate with Vacmet Europe which will help in better distribution and improving visibility of the company in the larger market place and it will also help in going deep inside the market and catering to smaller customers and bringing better product margins.
OUTLOOK OF PACKAGING:
The outlook of the Packaging Industry both National and International level looks robust. As per recent reports from the PCI, BOPET is expected to grow at 8.3% for next five years. This would result in 1.34 million tonnes of more BOPET being required in the market place in next five years. Ease of use packaging will have phenomenal growth in next 3-5 years. Flexible Packaging due to the fact that it uses less shelf space gets more preference than any other packaging medium. Green packaging and or recyclable material is also getting importance. Companies are very much focused towards products which are environmental friendly and do not pose risk to the environment. However, it is not an easy task to recycle flexible packaging material of multiple layers, still lot of efforts are to be made in this direction.
CORPORATE INFORMATION
The company is engaged in production of Polyester film and BOPP film with its manufacturing units located at Chhata, Mathura. The Company has three converting units for manufacturing of metallising films and speciality coated films and paper. The company exports to more than 50 countries across the global directly, through their associates and through wholly owned subsidiary (Vacmet Europe limited) in United Kingdom.
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10264946 |
10/02/2011 |
146,218,275.00 |
LANDESBANK BADEN- WURTTEMBERG |
AM HAUPTBAHNOF 2, 70173 STUTTGART, FEDERAL REPUBLIC OF GERMANY, STUTTGART, - D70173, GERMANY |
B05559257 |
|
2 |
10265848 |
19/03/2013 * |
764,067,465.00 |
LANDESBANK BADEN-WURTTEMBERG |
AM HAUPTBAHNHOF 2, 70173 STUTTGART, FEDERAL REPUBLIC OF GERMANY, STUTTGART - D70173, GERMANY |
B73727059 |
|
3 |
10207661 |
18/03/2010 |
850,043,860.00 |
LANDESBANK BADEN-WURTTEMBERG |
AM HAUPTBAHNHOF 2, 70173 STUTTGART, FEDERAL REPUBLIC OF GERMANY, STUTTGART - D70173, GERMANY |
A81820318 |
|
4 |
10207664 |
18/03/2010 |
86,072,360.00 |
LANDESBANK BADEN-WURTTEMBERG |
AM HAUPTBAHNHOF 2, 70173 STUTTGART, FEDERAL REPUBLIC OF GERMANY, STUTTGART, - D70173, GERMANY |
A81820862 |
|
5 |
80000134 |
23/03/2013 * |
2,855,800,000.00 |
BANK OF BARODA |
INTERNATIONAL
BUSINESS BRANCH, JEEVAN PRAKASH LIC |
B71184378 |
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Electric Fittings
- Vehicles
- Motor Car
- Leasehold improvements
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.66.81 |
|
|
1 |
Rs.100.37 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--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 |
|
48 |
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.