MIRA INFORM REPORT

 

 

Report No. :

327482

Report Date :

17.06.2015

 

IDENTIFICATION DETAILS

 

Name :

TIME TECHNOPLAST LIMITED

 

 

Formerly known as :

TIME PACKAGING LIMITED [w.e.f.1992]

 

TIME PACKAGING PRIVATE LIMITED

 

 

Registered Office :

Office No. 213, Sabari Apartments, Building No. 1, Survey No. 387, Dungri Falia, Kachigam, Daman - 396210, Daman and Diu (U.T.)

Tel. No.:

91-22-28039999/ 42119999

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

20.12.1999

 

 

Com. Reg. No.:

56-003240

 

 

Capital Investment / Paid-up Capital :

Rs. 210.118 Million

 

 

CIN No.:

[Company Identification No.]

L27203DD1989PLC003240

 

 

IEC No.:

0390025941

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMT08803E

 

 

PAN No.:

[Permanent Account No.]

AAACT2783J

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer and Exporter of Polymer Packaging Products.

 

 

No. of Employees :

500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (66)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established and a reputed company having fine track record.

 

Rating takes into consideration the company’s healthy business risk profile, supported by its established market position in the polymer-based industrial packaging business.

 

Overall financial position of the company appears to be sound.

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular 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

Long term rating = AA-

Rating Explanation

High degree of safety and very low credit risk.

Date

February 06, 2015

 

 

Rating Agency Name

CRISIL

Rating

Short term rating = A1+

Rating Explanation

Very strong degree of safety and lowest credit risk.

Date

February 06, 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 31-03-2013.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Ms. Jyoti Gawade

Designation :

Purchase Executive

Contact No.:

91-22-28039999/ 42119999

Date :

16.06.2015

 

 

LOCATIONS

 

Registered Office :

Office No. 213, Sabari Apartments, Building No. 1, Survey No. 387, Dungri Falia, Kachigam, Daman - 396210, Daman and Diu (U.T.), India

Tel No.:

Not Available

Fax No.:

Not Available

E-Mail :

ttl@timemauser.com

tpl@timemauser.com

ttl@timetechnoplast.com

Website :

www.timetechnoplast.com

Area :

10000 Sq. ft.

Location :

Owned

 

 

Corporate Office 1 :

102, Todi Complex, 35, Saki Vihar Road, Andheri (East), Mumbai - 400072, Maharashtra, India

Tel No.:

91-22-28039999/ 42119999

Fax No.:

91-22-28575672

E-Mail :

ttl@timetechnoplast.com

 

 

Corporate Office 2/ Head Office :

2nd Floor, 55, Corporate Avenue, Saki Vihar Road, Andheri (East), Mumbai - 400072, Maharashtra, India

Tel No.:

91-22-28039999/ 28039700/ 71119999/ 71119000/ 42119999

Fax No.:

91-22-28575672

 

 

Factories :

Located At :

 

·         Jammu

·         Baddi

·         Panthnagar

·         Bhuj

·         Ahmedabad

·         Panoli

·         Daman

·         Talasari

·         Umbergaon

·         Silvassa

·         Pen

·         Mahad

·         Hubli

·         Bangalore

·         Hosur

·         Gummidipundi

·         Hyderabad

·         Kolkata

 

 

Regional Offices :

Located At :

 

·         Bangalore

·         Baroda

·         Chandigarh

·         Chennai

·         Hyderabad

·         Indore

·         Kolkata

·         Sahibabad R.O. (Delhi)

·         Trivandrum

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. K. N. Venkatasubramanian

Designation :

Chairman (Non-Executive and Independent)

 

 

Name :

Mr. Anil Jain

Designation :

Managing Director

 

 

Name :

Mr. Bharat Vageria

Designation :

Whole Time Director – Finance

 

 

Name :

Mr. Naveen Jain

Designation :

Whole Time Director- Technical

 

 

Name :

Mr. Raghupathy Thyagarajan

Designation :

Whole Time Director- Marketing

 

 

Name :

Mr. Sanjaya Kulkarni

Designation :

Director (Non-Executive and Independent)

 

 

Name :

Mr. M. K. Wadhwa

Designation :

Director (Non-Executive and Independent)

 

 

Name :

Mr. Kartik C Parija

Designation :

Director (Non-Executive and Independent)

Date of Appointment :

09.03.2007

  

 

Name :

Mrs. Monika Shrivastava

Designation :

Director (Non-Executive)

 

 

KEY EXECUTIVES

 

Name :

Mr. Atul Gupta

Designation :

Vice President- Finance

 

 

Name :

Mr. Niklank Jain

Designation :

VP-Legal and Company Secretary

 

 

Name :

Mr. Ashok Shukla

Designation :

Export-Import Department

 

 

Name :

Ms. Jyoti Gawade

Designation :

Purchase Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Category of Shareholder

Total No. of Shares

As a %

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

17346258

8.26

http://www.bseindia.com/include/images/clear.gifBodies Corporate

105472371

50.20

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

92968

0.04

http://www.bseindia.com/include/images/clear.gifPersons Acting in Concert

92968

0.04

http://www.bseindia.com/include/images/clear.gifSub Total

122911597

58.50

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

122911597

58.50

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

19109996

9.09

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

112276

0.05

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

40375392

19.22

http://www.bseindia.com/include/images/clear.gifSub Total

59597664

28.36

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

4191655

1.99

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

11028528

5.25

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

2992985

1.42

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

9395321

4.47

http://www.bseindia.com/include/images/clear.gifClearing Members

406751

0.19

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

1076772

0.51

http://www.bseindia.com/include/images/clear.gifForeign Corporate Bodies

3227582

1.54

http://www.bseindia.com/include/images/clear.gifTrusts

3496547

1.66

http://www.bseindia.com/include/images/clear.gifOffice Bearer

92644

0.04

http://www.bseindia.com/include/images/clear.gifForeign Company / Collaborator

1095025

0.52

http://www.bseindia.com/include/images/clear.gifSub Total

27608489

13.14

Total Public shareholding (B)

87206153

41.50

Total (A)+(B)

210117750

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

210117750

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Polymer Packaging Products.

 

 

Brand Names :

'Meadowz'

'DuroTurf'

'Regal'

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Polymer Packaging Products

Countries :

·         Belgium

·         China

·         Egypt

·         Korea

·         Malaysia

 

 

Imports :

 

Products :

Raw Material

Countries :

Qatar 

 

 

Terms :

 

Selling :

Cash, L/C and Credit [30 Days, 60 Days and 90 Days]

 

 

Purchasing :

Cash, L/C and Credit [30 Days, 60 Days and 90 Days]

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Shah Narotamdas, Partnership

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

End Users and OEM’s

 

Reference:

BSNL India Limited

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

500 (Approximately)

 

 

Bankers :

Bank Name:

Standard Chartered Bank

Branch:

Barakhamba Branch, New Delhi, India

Person Name (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

 

·         Bank of Baroda

·         ING Vysya Bank Limited

·         Axis Bank Limited

·         DBS Bank Limited

·         Citi Bank NA

·         Indusind Bank Limited

·         The Hong Kong Shanghai Banking Corporation Limited

·         HDFC Bank Limited

·         The Ratnakar Bank Limited

·         IDBI Bank Limited

·         The Royal Bank of Scotland NV

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Term Loan

 

 

From Banks

1766.037

1480.288

SHORT TERM BORROWINGS

 

 

Working Capital Facilities

 

 

- From Banks

2165.217

1942.030

 

 

 

Total

 

3931.254

3422.318

 

 

 

Financial Institutions :

·         Tata Capital Financial Services Limited

·         GE Money Financial Services Private Limited

 

 

Auditors :

[As on 31.03.2014]

 

Name :

Raman S. Shah and Company

Chartered Accountants

 

 

Common Key Managerial Persons :

[As on 31.03.2014]

v  Avion Exim Private Limited

v  Vishwalaxmi Trading and Finance Private Limited

v  Time Exports Private Limited

v  Apex Plastics

v  Time Securities Services Private Limited

v  ACE Moulding Limited

v  Bharat Infrastructures Private Limited

 

 

Subsidiary Company :

[As on 31.03.2014]

v  TPL Plastech Limited

v  Elan Incorporated FZE

v  Novo Tech Spz.o.o.,

v  NED Energy Limited

v  Kampozit Praha s.r.o.

v  Ikon Investment Holdings Limited

v  GNXT Investment Holding Pte Limited

 

 

Fellow Subsidiary :

[As on 31.03.2014]

v  Gulf Powerbeat W.L.L Fellow Subsidiary

v  Technika Corporation F.Z.E

v  Tianjin Elan Plastech Company Limited

v  YPA Thailand (Limited)

v  Pack Delta Public Company Limited

v  Powerbuild Batteries Private Limited

v  Yung Hsin Contain Industry Company Limited

v  Grasstech SRL

v  PT Novo Complast

v  Tech Complast

v  Grasstech BVBA

v  Excel Plastech Company Limited

v  Qpack Industries SDN BHD

v  Pack Delta Pte Limited

 

 

Joint Venture :

[As on 31.03.2014]

v  Time Mauser Industries Private Limited

v  Schoeller Allibert Time Material Handling Solutions Limited

v  Nile Egypt Plastech Industries S.A.E.

v  Guangzhou Fanshun Elan Plastech Company Limited

v  Schoeller Allibert Time Holding Pte Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000000

Equity Shares

Re. 1/- each

Rs. 250.000 Million

2500000

Redeemable Preference Shares

Rs.10/- each

Rs. 25.000 Million

 

 

 

 

 

Total

 

Rs. 275.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

210117750

Equity Shares

Re. 1/- each

Rs. 210.118 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

210.118

210.118

210.118

(b) Reserves & Surplus

8039.544

7480.997

6802.687

(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)

8249.662

7691.115

7012.805

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

1720.679

1766.037

1480.288

(b) Deferred tax liabilities (Net)

330.749

306.200

276.645

(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)

2051.428

2072.237

1756.933

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

2434.737

2527.478

2461.249

(b) Trade payables

1563.094

1538.397

1311.437

(c) Other current liabilities

886.092

858.587

904.395

(d) Short-term provisions

423.422

374.228

413.908

Total Current Liabilities (4)

5307.345

5298.690

5090.989

 

 

 

 

TOTAL

15608.435

15062.042

13860.727

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

6358.532

5786.829

4822.211

(ii) Intangible Assets

0.000

14.383

12.433

(iii) Capital work-in-progress

0.000

403.506

1058.563

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1498.990

1498.990

1445.749

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

79.826

82.514

79.347

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

7937.348

7786.222

7418.303

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

2583.154

2339.226

2109.601

(c) Trade receivables

2850.468

2670.569

2248.998

(d) Cash and cash equivalents

254.162

312.937

256.995

(e) Short-term loans and advances

1972.443

1943.221

1818.546

(f) Other current assets

10.860

9.867

8.284

Total Current Assets

7671.087

7275.820

6442.424

 

 

 

 

TOTAL

15608.435

15062.042

13860.727

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Revenue from Operations

13430.842

12180.263

10665.580

 

 

Other Income

12.399

234.849

43.040

 

 

TOTAL                                     (A)

13443.241

12415.112

10708.620

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

9452.230

8539.736

7224.118

 

 

Manufacturing and Operating Costs

 0.000

628.499

533.567

 

 

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

(102.246)

(123.145)

(152.898)

 

 

Employees benefits expense

500.058

453.640

391.493

 

 

Other expenses

1563.155

849.525

729.331

 

 

TOTAL                                     (B)

11413.197

10348.255

8725.611

 

 

 

 

 

 

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

2030.044

2066.857

1983.009

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

649.129

613.974

563.915

 

 

 

 

 

 

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

1380.915

1452.883

1419.094

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

440.874

439.801

402.444

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

940.041

1013.082

1016.650

 

 

 

 

 

Less

TAX                                                                  (H)

239.304

209.704

261.193

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

700.737

803.378

755.457

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

NA

517.018

739.244

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Materials

 

3913.423

3565.402

 

 

Capital Goods

 

39.400

127.075

 

 

Stores & Spares

 

2.868

1.605

 

TOTAL IMPORTS

NA

3955.691

3694.082

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

 

 

Basic

3.33

3.82

3.60

 

Diluted

3.33

3.74

3.52

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

745.040

739.522

 

 

 

 

Cash Generated from operations

NA

1208.439

1054.209

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

30.06.2014

30.09.2014

31.12.2014

31.03.2015

Type

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

Net Sales

2943.000

3321.000

3463.300

3703.560

Total Expenditure

2490.100

2809.500

2946.200

3167.390

PBIDT (Excl OI)

452.900

511.500

517.100

536.170

Other Income

0.000

11.700

0.000

0.700

Operating Profit

452.900

523.200

517.100

536.870

Interest

162.100

168.200

157.200

161.620

Exceptional Items

0.000

0.000

0.000

0.000

PBDT

290.700

355.100

359.900

375.250

Depreciation

124.100

134.200

138.100

44.480

Profit Before Tax

166.600

220.900

221.800

330.770

Tax

45.000

54.800

66.100

73.470

Provisions and contingencies

0.000

0.000

0.000

0.000

Profit After Tax

121.700

166.100

155.700

73.470

Extraordinary Items

0.000

0.000

0.000

0.000

Prior Period Expenses

0.000

0.000

0.000

0.000

Other Adjustments

0.000

0.000

0.000

0.000

Net Profit

121.700

166.100

155.700

73.470

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT/Sales)

(%)

5.22

6.60

7.08

 

 

 

 

 

Operating Profit Margin

(PBDIT / Sales)

(%)

15.11

16.97

18.59

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.66

7.70

8.95

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.11

0.13

0.14

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.50

0.66

0.67

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.45

1.37

1.27

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

Re. 1/-

 

 

Market Value

Rs. 47.00/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

210.118

210.118

210.118

Reserves & Surplus

6802.687

7480.997

8039.544

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

7012.805

7691.115

8249.662

 

 

 

 

Long-term borrowings

1480.288

1766.037

1720.679

Short term borrowings

2461.249

2527.478

2434.737

Total borrowings

4681.059

5038.555

4155.416

Debt/Equity ratio

0.668

0.655

0.504

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

10665.580

12180.263

13430.842

 

 

14.202

10.267

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

10665.580

12180.263

13430.842

Profit

755.457

803.378

700.737

 

7.08%

6.60%

5.22%

 

 

 

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10567367

13/04/2015

150,000,000.00

RBL BANK LIMITED

SHAHUPURI, KOLHAPUR,, KOLHAPUR, MAHARASHTRA - 416001, INDIA

C52607173

2

10572416

24/03/2015

250,000,000.00

BANK OF BAHRAIN & KUWAIT B S C

UNIT 3 & 4, GROUND FLOOR, EROS CORPORATE TOWER,
NEHRU PALACE, NEW DELHI, DELHI - 110019, INDIA

C55173793

3

10503432

25/09/2014 *

400,000,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

ONE FORBES, DR. V.B. GANDHI MARG, FORT, MUMBAI, 
MAHARASHTRA - 400001, INDIA

C38260907

4

10481279

20/02/2014

250,000,000.00

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

52/60 MAHATMA GANDHI ROAD, P O BOX 128, MUMBAI, MAHARASHTRA - 400001, INDIA

B97925028

5

10475238

30/01/2014

330,000,000.00

IDBI BANK LIMITED

SPECIALISED CORPORATE BRANCH, 5TH FLOOR , PLOT NO 
7 , G BLOCK, BKC, MUMBAI, MAHARASHTRA - 400051, INDIA

B95360152

6

10464392

30/07/2014 *

750,000,000.00

GE MONEY FINANCIAL SERVICES PRIVATE LIMITED

401 402 4TH FLOORAGGARWAL MILLENIUM TOWER, E1 2 3 NETAJI SUBHASH PLACE, PITAMPURA DELHI, DELHI - 110034, INDIA

C18002279

7

10456339

08/10/2013

320,000,000.00

STANDARD CHARTERED BANK

NARAIN MANZIL, 23, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

B88064191

8

10430627

29/05/2013

500,000,000.00

INDUSIND BANK LIMITED

DR. GOPAL DAS BHAWAN, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

B76917301

9

10392958

05/12/2012

100,000,000.00

ING VYSYA BANK LIMITED

103/104,'A' WING,I FLOOR, FLORAL DECK PLAZA, MID C CENTRAL ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 
400093, INDIA

B64509730

10

10390501

02/07/2013 *

500,000,000.00

ING VYSYA BANK LIMITED

NARIAN MANZIL, GROUND FLOOR, SHOP NO. G1 TO G5, I FLOOR, SHOP NO.1001 TO 1007, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

B80359789

11

10359696

24/05/2012

500,000,000.00

AXIS BANK LIMITED

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B41236142

12

10314200

27/04/2015 *

240,000,000.00

STANDARD CHARTERED BANK

NARAIN MANZIL, 23, BARAKHAMBA ROAD, DELHI, DELHI - 110001, INDIA

C53585188

13

10314348

27/04/2015 *

480,000,000.00

STANDARD CHARTERED BANK

NARAIN MANZIL, 23, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

C53587481

14

10292704

20/02/2015 *

460,000,000.00

DBS BANK LIMITED

221 FORT HOUSE THIRD FLOOR, D N ROAD FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

C45201027

15

10255249

14/09/2011 *

368,000,000.00

STANDARD CHARTERED BANK

NARAIN MANZIL, 23, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA

B23916133

16

10152654

12/11/2014 *

900,000,000.00

INDUSIND BANK LIMITED

2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA

C34410506

17

10140152

23/07/2014 *

549,100,000.00

BANK OF BARODA

APPLE HERITAGE, GROUND FLOOR 54-C, SIR MATHURDAS 
VASANJI ROAD, ANDHERI(E), MUMBAI, MAHARASHTRA - 400083, INDIA

C14831762

18

10117918

15/11/2011 *

529,100,000.00

BANK OF BARODA

APPLE HERITAGE, GROUND FLOOR, 54-C, SIR MATHURDAS 
VASANJI ROAD, CHAKALA ANDHERI (E), MUMBAI, MAHARASHTRA - 400083, INDIA

B26935262

19

10117916

23/07/2014 *

549,100,000.00

BANK OF BARODA

APPLE HERITAGE, GROUND FLOOR, 54-C, SIR MATHURDAS 
VASANJI ROAD, CHAKALA ANDHERI (E), MUMBAI, MAHARASHTRA - 400083, INDIA

C14831689

20

10102000

19/09/2013 *

1,235,000,000.00

AXIS BANK LIMITED

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B85482222

21

80011640

22/04/2014 *

6,400,000,000.00

BANK OF BARODA

APPLE HERITAGE, 54 C, GROUND FLOOR, SIR MATHURDAS 
VASANJI ROAD CHAKALA, ANDHERI (E), MUMBAI, MAHARASHTRA - 400093, INDIA

C03572625

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

From Bank

354.754

500.000

Deferral Sales Tax Liability

7.507

19.219

 

 

 

Total

 

362.261

519.219

 

 

CONTINGENT LIABILITIES [AS ON 31.03.2014]:

 

CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:

 

1)     Letter of credit issued by banks on behalf of the Company Rs.1107.727 Million (Previous year Rs.871.247 Million)

2)     Guarantee given by the banks on behalf of the Company Rs.136.321 Million (Previous Rs.134.205 Million)

3)     Disputed Direct Taxes Rs.11.907 Million (Previous Year Rs.6.330 Million)

4)     Disputed Indirect Taxes Rs.1.129 Million (Previous Year Rs.1.129 Million)

5)     Corporate Guarantees give to banks for Loans taken by Subsidiaries / Joint Venture companies Rs.5542.800 Million against which outstanding as on 31st March 2014 is Rs.3970.000 Million.

 

 

FIXED ASSETS

 

·         Land

·         Factory Buildings

·         Office Premises

·         Plant and Machinery

·         Furniture and Fixtures

·         Office Equipment’s

·         Vehicles

·         Computers

·         Software

 

 

PRESS RELEASES

 

FALL IN POLYMER PRICES TO ENHANCE MARGINS: TIME TECHNOPLAST


Anil Jain, Managing Director of Time Technoplast in an interview to CNBC-TV18 spoke about impact of falling crude prices and the business outlook going forward.

 

According to him the fall in crude prices led to decline in polymer prices by 8-11 percent in the last four weeks. Polymer prices are expected to go down further because of low demand in China and Europe going forward too to around 15%, he added.

 

This would result in expansion of EBITDA margins by about 1 percent for the company, said Jain.

 

Commenting on the overseas ventures, he said the company has already invested around Rs 600 crore in those businesses and is looking for further expansion. All the overseas ventures are doing extremely well except the one in China, he added.

 

As of now, the overseas ventures contribute 30% of their turnover, said Jain.

 

Time Technoplast is a leading manufacturer of polymer products with operations in Bahrain, Belgium, China, Egypt, Indonesia, Korea, Malaysia, Poland, Romania, Singapore, Sharjah, Taiwan, Thailand, Vietnam and India. 

 

TIME TECHNOPLAST LAUNCHES COMPOSITE CYLINDERS


Time Technoplast Limited has informed BSE regarding "'TimeTech' Launched Composite Cylinders". Time Technoplast successfully commenced commercial sale to most reputed private sector LPG Distribution Company in Western India. Time Tech has become the first and only local manufacturer of Composite Cylinders for LPG distribution in the country. PSU Oil Companies and other parallel marketers of LPG have evinced huge interest in Composite Cylinders.

 

 

GROWTH IN OVERSEAS STARTUPS BOOST RESULTS: TIME TECHNOPLAST

Strong performance by overseas startups and reduced in employee costs strengthened Time Technoplast fourth-quarter earnings, said managing director Anil Jain. The company also expects its domestic composite cylinder business to start contributing to overall revenues.


 

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. 64.15

UK Pound

1

Rs. 100.04

Euro

1

Rs. 72.27

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILITY 

1~10

8

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

7

--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

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

66

 

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.