MIRA INFORM REPORT

 

 

Report No. :

331371

Report Date :

10.07.2015

           

IDENTIFICATION DETAILS

 

Name :

MACHINOGRAPH POLYCONTAINERS (INDIA) PRIVATE LIMITED (w.e.f. 02.03.2005)

 

 

Formerly Known As :

MACHINOGRAPH POLYCONTAINERS (INDIA) LIMITED

 

 

Registered Office :

704, Murlidhar Chambers, 352, J.S.S. Road, Thakurdwar, Mumbai – 400005, Maharashtra

Tel. No.:

91-22-22091678/22005932

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.10.1992

 

 

Com. Reg. No.:

11-069161

 

 

Capital Investment / Paid-up Capital :

Rs. 5.500 Million

 

 

CIN No.:

[Company Identification No.]

U25209MH1992PTC069161

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of HM/HDPE Barrels

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

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

 

 

Comments :

Subject is an established company having satisfactory track record.

 

General financial position of the company seems to be sound and healthy. Profitability of the company is fair.

 

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

 

The company can be considered for business dealings at usual trade terms and condition.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

EXTERNAL AGENCY RATING

 

 

Rating Agency Name

Not Available

Rating

Not Available

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 31-03-2013.

 

 

INFORMATION DENIED

 

Management Non-cooperative (91-22-22091678/22005932)

 

LOCATIONS

 

Registered Office :

704, Murlidhar Chambers, 352, J.S.S. Road, Thakurdwar, Mumbai – 400005, Maharashtra, India

Tel. No.:

91-22-22091678/22005932

Fax No.:

91-22-22091858

E-Mail :

machinograph@hotmail.com

barrels@vsnl.com

Website :

www.machinograph.com

 

 

Factory :

MIDC, Murbad, Maharashtra, India

 

 

DIRECTORS

 

As on 25.09.2014

 

Name :

Mrs. Asha Ravi Agrawal

Designation :

Director

Address :

704, Murlidhar Chambers, 352, J.S.S. Road, Thakurdwar, Mumbai – 400 002, Maharashtra, India

Date of Birth/Age :

24-09- 1941

Date of Appointment :

21-10-1992

Voter ID No.:

Mt/04/019/051710

DIN No.:

00046258

 

 

Name :

Mr. Sunil Ravi Agrawal

Designation :

Director

Address :

704, Murlidhar Chambers, 352, J.S.S. Road, Thakurdwar, Mumbai – 400 002, Maharashtra, India

Date of Birth/Age :

16-11-1964

Date of Appointment :

21-10-1992

Voter ID No.:

Mt/04/019/051353

DIN No.:

00046191

 

 

Name :

Mr. Khushroo Bujor Captain

Designation :

Director

Address :

D-4, Palmsprings, Cuffe Parade, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

24-03-1930

Date of Appointment :

30-05-1995

DIN No.:

00007518

 

 

Name :

Mr. Sanjay Vijay Kapur

Designation :

Additional Director

Address :

1, Citadel, 18/B, Napean Road, Malabar Hill, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

05-10-1965

Date of Appointment :

14-08-2014

DIN No.:

01582246

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 25.09.2014

 

Names of Shareholders

 

No. of Shares

Sunil R. Agrawal

 

275000

Asha R. Agrawal

 

274930

Arati S. Agrawal

 

60

Anil R. Agrawal

 

10

Total

 

550000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 25.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of HM/HDPE Barrels

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

 

GENERAL INFORMATION

 

Suppliers :
  • Air Utility Services
  • Aries Electronic In. Private Limited
  • Blend Financial Services Limited
  • Corroguard Chemicals
  • Hitech Enterprises
  • JAsh Enterprise
  • Jagtap Transport
  • Ruby Seal Enterprises
  • Royal Hardware Mart
  • Sareeka Polymer
  • Shree Sai Heaters
  • Trimurti Trading Company
  • Matrix Consultants
  •  MSA consultants
  • Nikhil Kaushik and Associates
  • Mangal Electricals
  • Om Trading company
  • Rajput Protection Services
  • Universal Trading

 

 

Customers :
  • Aayan Industries
  • Ashu Organic (I) Private Limited (W-119)
  • Balaji Enterprises
  • Bombay Ammonia and Chem Company
  • Chemspec Chemicals
  • Crystal India
  • Geeta Chemicals
  • Highrise Chemicals Industries Private Limited
  • Innovation Organics
  • IVP Limited
  • J.P.B. Chemicals (I) Private Limited
  • Lakeland Chemicals
  • M. Company
  • Melog Specially chemicals Private Limited
  • Modepro India Private Limited
  • Old Dues Debtors
  • Pacific Organics Private Limited (Unit II)
  • Ramniklal S. Gosalia and company (Ghotawade)
  • Saturn Chemicals
  • Sohum Polymers Private Limited
  • Solar Industries Ind Limited
  • Spak Orgochem (I) Private Limited, Nashik
  • Thermax Limited
  • Unilab Chemical and Pharmaceuticals Private Limited
  • Vertex Chem Private Limited

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :
  • State Bank of India, SME Backbay Reclamation Branch, Mittal Court, B Wing, Nariman Point, Mumbai – 400021, Maharashtra, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

HDFC Bank Loan A/c No. 3223718

0.143

0.535

Bank SBI CC A/c 10972438455

10.482

11.485

 

 

 

Total

10.625

12.020

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S. S. GAJJA and company

Chartered Accountants

Address :

402, Maker Bhavan No. 3, 21, New Marine Lines, Mumbai – 400005, Maharashtra, India

Tel. No.:

91-22-22038515/22083219

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

AAAFS4063K

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Sister Concern :

Machinograph Company

 

 

CAPITAL STRUCTURE

 

As on 25.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

650,000

Equity Shares

Rs.10/- each

Rs. 6.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

550,000

Equity Shares

Rs.10/- each

Rs. 5.500 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

5.500

5.500

5.500

(b) Reserves & Surplus

18.897

16.868

16.001

(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)

24.397

22.368

21.501

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

21.771

23.289

17.962

(b) Deferred tax liabilities (Net)

0.000

0.461

1.141

(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)

21.771

23.750

19.103

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

30.455

21.158

23.845

(c) Other current liabilities

2.075

1.270

0.655

(d) Short-term provisions

1.508

1.537

0.645

Total Current Liabilities (4)

34.038

23.965

25.145

 

 

 

 

TOTAL

80.206

70.083

65.749

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

17.412

14.658

15.808

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.915

0.801

0.745

(d)  Long-term Loan and Advances

0.000

0.000

0.778

(e) Other Non-current assets

0.701

0.738

0.000

Total Non-Current Assets

19.028

16.197

17.331

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

14.347

5.197

1.643

(c) Trade receivables

36.279

33.852

30.905

(d) Cash and cash equivalents

3.581

4.541

4.282

(e) Short-term loans and advances

2.012

5.411

5.798

(f) Other current assets

4.959

4.885

5.790

Total Current Assets

61.178

53.886

48.418

 

 

 

 

TOTAL

80.206

70.083

65.749

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

152.189

140.722

112.951

 

Other Income

0.780

0.884

0.965

 

TOTAL

152.969

141.606

113.916

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

149.140

139.985

111.617

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

3.829

1.621

2.299

 

 

 

 

 

Less

TAX

1.800

0.755

1.670

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

2.029

0.866

0.629

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 3.69

1.57

1.14 

 

 

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

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.33

0.62

0.56

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.83

2.34

3.54

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.16

0.07

0.11

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.89

1.04

0.84

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.80

2.25

1.93

 

 

 

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

5.500

5.500

5.500

Reserves & Surplus

16.001

16.868

18.897

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

21.501

22.368

24.397

 

 

 

 

long-term borrowings

17.962

23.289

21.771

Short term borrowings

0.000

0.000

0.000

Total borrowings

17.962

23.289

21.771

Debt/Equity ratio

0.835

1.041

0.892

 

 

 

 

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

112.951

140.722

152.189

 

 

24.587

8.149

 

 

 

 

 

 

 

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

112.951

140.722

152.189

Profit

0.629

0.866

2.029

 

0.56%

0.62%

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

No

8

Designation of contact person

No

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)

No

16

No. of employees

No

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

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

From Directors

11.146

11.269

 

 

 

Total

11.146

11.269

 

 

 

INDEX OF CHARGES:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10116621

01/07/2008

4,640,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA

A43276369

2

10111944

04/06/2015 *

33,400,000.00

State Bank of India

SME BACK BAY RECLAMATION BRANCH, MITTAL COURT,, B 
WING, GROUND FLOOR, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA

C57319147

3

10111945

04/06/2015 *

33,400,000.00

State Bank of India

SME BACK BAY RECLAMATION BRANCH, MITTAL COURT,, B 
WING, GROUND FLOOR, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA

C57318149

4

80015795

23/08/2007 *

25,000,000.00

STATE BANK OF INDIA

BACKBAY RECLAMATION BRANCH, RAHEJA CHAMBER, NARIM 
AN POINT, MUMBAI, Maharashtra - 400021, INDIA

A24263808

 

*Date of charge modification

 

 

 

FIXED ASSETS

  • Leasehold Land
  • Building
  • Plant and Machinery
  • Electricity
  • Furniture and fixture
  • Office Equipment
  • Motor Vehicle
  • Computer

 

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.63.51

UK Pound

1

Rs.97.85

Euro

1

Rs.70.50

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ART

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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.