MIRA INFORM REPORT
|
Report No. : |
331437 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
CLEAR MIPAK PACKAGING SOLUTIONS LIMITED (w.e.f.01.06.2010) |
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|
Formerly Known
As : |
CLEAR PLASTICS LIMITED (w.e.f.16.09.2003) CLEAR PLASTICS PRIVATE LIMITED |
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Registered
Office : |
Unit No. 203, 2nd Floor, Welspun House, Kamala City, Senapati Bapat Marg, Lower
Parel, Mumbai – 400013, Maharashtra |
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Tel. No.: |
91-22-28574660 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.01.1986 |
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Com. Reg. No.: |
11-038626 |
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Capital
Investment / Paid-up Capital : |
Rs. 44.717
Million |
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CIN No.: [Company Identification
No.] |
U25202MH1986PLC038626 |
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IEC No.: |
0388122820 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACC4489N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Rigid Plastic Containers. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. For the financial year ended 2014, company possesses healthy
operational risk profile and reported sound profitability margins during a
year under review. Rating also reflects company’s healthy financial risk profile marked
by adequate networth base and sound liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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.
EXTERNAL AGENCY RATING
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 DECLINED BY
|
Name : |
Ms. Melina |
|
Designation : |
Senior Accounts Executive |
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Contact No.: |
91-22-40016500 |
|
Date : |
10.07.2015 |
LOCATIONS
|
Registered/ Corporate Office : |
Unit No. 203, 2nd Floor, Welspun House, Kamala City, Senapati Bapat Marg, Lower
Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-40016500/ 24816500 |
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Fax No.: |
91-22-24955657 |
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E-Mail : |
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Website : |
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Factory 1 : |
709/3/1/1, Vadfalia, Bhilad Naroli Road, Naroli - 396235, , Dadra & Nagar Haveli, U.T., India |
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Factory 2 : |
Plot No. 4615/16, Plastic Zone, G.I.D.C., Sarigam, Valsad - 396155, Gujarat, India |
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Factory 3 : |
Village Dhana, Bagbania, Nalagarh Manpura, Nalagharh, Solan - 174101, Himachal Pradesh, India |
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Factory 4 : |
Plot No. D-63, Eldico, Sidcul Industrial Park,
Sitarganj – 262405, Uttarkhand, India |
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Factory 5 : |
259/21/1, Demini Road, Arihant Industrial Estate, Dadra – 396230, Dadra & Nagar Haveli, U.T., India |
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Factory 6 : |
Shed No. A-1, 912/913/914, G.I.D.C. Umbergaon, District Valsad - 396171, Gujarat, India |
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Factory 7 : |
Plot No.G-10, O.I.D.C., Udyognagar Industrial Estate, Ringanwada Daman - 396210, U.T., India |
DIRECTORS
AS ON 12.09.2014
|
Name : |
Mr. Rameshchandra Shantilal Gandhi |
|
Designation : |
Director |
|
Address : |
AMEE, Near Vinayak Society, Behind Akota Stadium, Opposite Sanskruti
Apartment, Vadodara – 390020, Gujarat, India
|
|
Date of Birth/Age : |
18.06.1929 |
|
Qualification : |
ACA, FCS, MBA |
|
Date of Appointment : |
08.01.2005 |
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DIN No.: |
00199192 |
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Name : |
Mr. Mahendra Chhotalal Sheth |
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Designation : |
Director |
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Address : |
51, Shivtirth No. 1, 4/6 Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
22.12.1946 |
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Qualification : |
B E INDL M Sc Chemical |
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Date of Appointment : |
16.04.2003 |
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DIN No.: |
00056975 |
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Name : |
Mr. Jatin Ramesh Shah |
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Designation : |
Director |
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Address : |
5/17, Dhanvantari Bhuvan, 143/B, August Kranti Marg, Mumbai - 400036,
Maharashtra, India |
|
Date of Birth/Age : |
22.05.1965 |
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Qualification : |
CA |
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Date of Appointment : |
04.09.2010 |
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DIN No.: |
00032475 |
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Name : |
Mr. Ashwin Ratilal Nagarwadia |
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Designation : |
Director |
|
Address : |
4, Bharty Nivas Society, Ellisbridge, Ahmedabad - 380006, Gujarat,
India |
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Date of Birth/Age : |
20.09.1937 |
|
Qualification : |
B Sc (Eng) |
|
Date of Appointment : |
13.09.2013 |
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DIN No.: |
00466681 |
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|
|
|
Name : |
Mr. Malav Ashwin Dani |
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Designation : |
Director |
|
Address : |
Home Villa, 49, Krishna Sangh Patr, Gamdevi, Mumbai – 400007,
Maharashtra, India |
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Date of Birth/Age : |
26.11.1975 |
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Qualification : |
B S in Business Management & MBA from Columbia University |
|
Date of Appointment : |
04.02.2012 |
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PAN No.: |
AAAPD5463A |
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DIN No.: |
01184336 |
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|
|
|
Name : |
Mr. Satish Balkrishna Samant |
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Designation : |
Director |
|
Address : |
Flat No. 1406, 14th Floor, B-Tower, Oberoi Woods, Mohan Gokhale
Marg, Off W.E. Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1952 |
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Qualification : |
CA |
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Date of Appointment : |
04.02.2012 |
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DIN No.: |
03301575 |
KEY EXECUTIVES
|
Name : |
Ms. Melina |
|
Designation : |
Senior Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Hitech Plast Limited, India |
|
1939016 |
|
Hitech Plast Limited, India |
|
743992 |
|
Ashwin S. Dani (Nominee of Hitech Plast Limited, India) |
|
1 |
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J. A. Dani (Nominee of Hitech Plast Limited, India) |
|
1 |
|
Hasit A. Dani (Nominee of Hitech Plast Limited, India) |
|
1 |
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Ina A. Dani (Nominee of Hitech Plast Limited, India) |
|
1 |
|
Vita J. Dani (Nominee of Hitech Plast Limited, India) |
|
1 |
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Bhupendra P. Dusara (Nominee of Hitech Plast Limited, India) |
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2 |
|
Ramesh C. Shah (Nominee of Hitech Plast Limited, India) |
|
2 |
|
Geetanjali Trading and Investments Private Limited, India |
|
1725014 |
|
Coatings Specialities India Limited, India |
|
63666 |
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Jatin R. Shah (Nominee of Hitech Plast Limited, India) |
|
1 |
|
Malav A. Dani (Nominee of Hitech Plast Limited, India) |
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2 |
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|
|
|
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Total |
|
4471700 |
AS ON 12.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
100.00 |
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|
|
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Rigid Plastic Containers. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227, D, Nariman Point,, Mumbai - 400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Shah and Company Chartered Accountants |
|
Address : |
Maker Bhavan, No 2, 3rd Floor, 18 New Marine Lines,
Mumbai – 400020, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFS2985F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company : |
Hitech Plast Limited
[L28992MH1991PLC168235] |
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Ultimate Holding
company : |
Geetanjali Trading and
Investments Private Limited [U65990MH1979PTC021049] |
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|
Fellow Subsidiary
company : |
·
Coatings Specialities (India) Limited
[U65990MH1978PLC020745] ·
Rangudyan Insurance
Broking Services Limited ·
Isis Holding and
Trading Company Private Limited ·
Vijal Holding and
Trading Co. Private Limited ·
Raytirth Holding
and Trading Company Private Limited ·
Smiti Holding and
Trading Private Limited |
|
|
|
|
Employee Benefit Fund
Where Control Exists : |
·
Clear Plastics Employee’s Gratuity Trust ·
Mipak Polymers
Employees’ Group Gratuity Assurance Scheme ·
Plast Kul
Industries Employees’ Group Gratuity Assurance Scheme |
|
|
|
|
Companies controlled by
Directors/Relatives of Directors : |
·
Asian Paints Limited [L24220MH1945PLC004598] ·
Dani Finlease Limited ·
Gujarat Organics Limited ·
Haish Holding And
Trading Company Private Limited ·
Isis Skills
Development Private Limited ·
Pragati Chemicals Limited ·
Resins and Plastics
Limited ·
S C Dani Research
Foundation Private Limited ·
Suryakant Paint
Accessories Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000 Million |
|
500,000 |
Unclassified Shares |
Rs. 10/- each |
Rs. 5.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 95.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,471,700 |
Equity Shares |
Rs. 10/- each |
Rs. 44.717
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 |
44.717 |
44.717 |
44.717 |
|
(b) Reserves & Surplus |
728.397 |
684.926 |
651.336 |
|
(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) |
773.114 |
729.643 |
696.053 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
17.245 |
61.491 |
109.112 |
|
(b) Deferred tax liabilities (Net) |
23.064 |
24.016 |
27.133 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
2.000 |
3.109 |
2.513 |
|
Total
Non-current Liabilities (3) |
42.309 |
88.616 |
138.758 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
200.410 |
254.589 |
318.454 |
|
(b)
Trade payables |
105.394 |
83.670 |
73.364 |
|
(c)
Other current liabilities |
84.113 |
86.770 |
92.574 |
|
(d)
Short-term provisions |
11.216 |
9.163 |
8.819 |
|
Total
Current Liabilities (4) |
401.133 |
434.192 |
493.211 |
|
|
|
|
|
|
TOTAL |
1216.556 |
1252.451 |
1328.022 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
540.118 |
616.444 |
677.916 |
|
(ii)
Intangible Assets |
0.134 |
0.181 |
0.313 |
|
(iii)
Capital work-in-progress |
7.942 |
7.897 |
8.630 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
1.100 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
18.525 |
16.184 |
30.764 |
|
(e)
Other Non-current assets |
0.500 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
567.219 |
640.706 |
718.723 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
161.343 |
137.519 |
192.330 |
|
(c)
Trade receivables |
399.057 |
364.353 |
334.769 |
|
(d)
Cash and cash equivalents |
22.308 |
41.358 |
18.067 |
|
(e)
Short-term loans and advances |
58.550 |
61.231 |
56.732 |
|
(f)
Other current assets |
8.079 |
7.284 |
7.401 |
|
Total
Current Assets |
649.337 |
611.745 |
609.299 |
|
|
|
|
|
|
TOTAL |
1216.556 |
1252.451 |
1328.022 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1886.908 |
1836.457 |
1547.451 |
|
|
|
Other Income |
2.932 |
16.688 |
9.233 |
|
|
|
TOTAL (A) |
1889.840 |
1853.145 |
1556.684 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1273.215 |
1188.589 |
1007.365 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(7.063) |
26.364 |
(9.160) |
|
|
|
Employees benefits expense |
105.349 |
97.279 |
99.876 |
|
|
|
Other expenses |
318.835 |
353.688 |
319.284 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
2.197 |
|
|
|
TOTAL (B) |
1690.336 |
1665.920 |
1419.562 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
199.504 |
187.225 |
137.122 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.107 |
53.988 |
58.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
164.397 |
133.237 |
78.735 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
85.394 |
91.905 |
85.874 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
79.003 |
41.332 |
-7.139 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
35.532 |
7.742 |
-1.371 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
43.471 |
33.590 |
-5.768 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
77.436 |
95.850 |
49.372 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
174.265 |
99.300 |
102.967 |
|
|
|
Components & Spare Parts |
0.100 |
0.000 |
0.000 |
|
|
|
Capital Goods |
0.818 |
0.199 |
28.887 |
|
|
TOTAL IMPORTS |
175.183 |
99.499 |
131.854 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
9.72 |
7.51 |
(1.29) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
38.462 |
46.154 |
41.544 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
158.649 |
221.291 |
76.440 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.30 |
1.83 |
-0.37 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
10.57 |
10.19 |
8.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.54 |
3.32 |
-0.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.06 |
-0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.33 |
0.50 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62 |
1.41 |
1.24 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
44.717 |
44.717 |
44.717 |
|
Reserves & Surplus |
651.336 |
684.926 |
728.397 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
696.053 |
729.643 |
773.114 |
|
|
|
|
|
|
Long-term borrowings |
109.112 |
61.491 |
17.245 |
|
Short term borrowings |
318.454 |
254.589 |
200.410 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
41.544 |
46.154 |
38.462 |
|
Total
borrowings |
469.110 |
362.234 |
256.117 |
|
Debt/Equity ratio |
0.674 |
0.496 |
0.331 |
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 |
1547.451 |
1836.457 |
1886.908 |
|
|
|
18.676 |
2.747 |
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 |
1547.451 |
1836.457 |
1886.908 |
|
Profit/ (Loss) |
(5.768) |
33.590 |
43.471 |
|
|
(0.37%) |
1.83% |
2.30% |
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 |
Yes |
|
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 |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits |
1.860 |
7.645 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
0.000 |
125.000 |
|
Loans and advances from related parties |
125.000 |
0.000 |
|
|
|
|
|
Total |
126.860 |
132.645 |
COMPANY INFORMATION:
Clear Mipak Packaging Solutions Limited (the Company) is a public limited
Company domiciled in India and incorporated under the provisions of the
Companies Act, 1956. The Company is engaged in the manufacturing of rigid
plastic containers specially catering to customers relating to FMCG, Agro
chemical, lube, pharma products as well as export markets.
OPERATIONS:
During the year, the Company’s sales increased by 3% to Rs. 1879.900 Million as compared to Rs. 1827.300 Million during the previous year. The operating profit, PBIDT increased by 7% to Rs.199.500 Million as compared to Rs.187.200 Million for the previous year. The profit before tax is Rs.79.000 Million as compared to profit of Rs. 41.300 Million in the previous year. The after tax profit is Rs.43.500 Million.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Claims against the company not acknowledged as debts |
|
|
|
Tax matters in dispute under appeal |
46.004 |
16.464 |
|
Bills Discounted with Banks (Since realized Rs.13.860 Million, Previous Year Rs. 13.140 Million) |
13.860 |
13.140 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
·
Leasehold improvements
·
Computer software
·
Copyrights, patents and other operating rights
PRESS RELEASE
CLEAR MIPAK PACKAGING
TO MERGE WITH HITECH PLAST
Meanwhile, Hitech
Plast reported 16.65 percent jump in a consolidated total income from
operations to Rs 1369.200 Million from last year's Rs 1173.800 Million
Hitect Plast Limited, the Mumbai-based plastic containers manufacturer, will merge its subsidiary Clear Mipak Packaging Solutions Limited with itself. The decision was taken by the Board of Directors of Hitech Plast Limited at its meeting held on November 12, 2014. The merger is subject to the approval of stock exchange, SEBI, shareholders and High Court and compliance of other applicable statutory provisions in this regard, said the Hitech Plast BSE filing. Clear Mipak Packaging Solutions is engaged in manufacturing of plastic containers for paints, FMCGs, chemicals, agrochemicals, lubricants etc.
Hitech is one of India’s leading rigid plastics packaging
manufacturers catering to industries such as paint, personal care,
agrochemicals, health care, confectionary, lube and retail household products.
With 13 plants across the country, it is the largest manufacturer of paint
pails/containers.
Meanwhile, Hitech Plast has reported a consolidated total income from operations
of Rs 1369.200 Million for the second quarter in 2014-15 – up by 16.65 percent
compared to Rs 1173.800 Million in the quarter ended September 2013. Net profit
was also up 66.89 percent to Rs 24.700 Million during Q2 of 2014-15 compared to
last year’s Rs 14.800 Million.
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. 63.38 |
|
|
1 |
Rs. 97.65 |
|
Euro |
1 |
Rs. 70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
54 |
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.