MIRA INFORM REPORT
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Report No. : |
318534 |
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Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
BILLION PLASTICS PRIVATE LIMITED |
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Registered Office
: |
101, Himalaya House, 79, R.A. Marg, Mumbai-400001, Maharashtra |
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Tel. No.: |
91-022-22621673/74/75 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
06.05.1965 |
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Com. Reg. No.: |
11-013200 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.321 Million |
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CIN No.: [Company Identification
No.] |
U25209MH1965PTC013200 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing, Importing of PVC Transparent Tubing PVC branded, Hoses. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 34000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial Position of the company is decent. However, trade relations are reported to be fair. Business is active.
Payments are reported to be usually correct. The company can be considered normal for business dealing 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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Desai |
|
Designation : |
Accountant |
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Contact No.: |
91-22-22621673 |
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Date : |
07.05.2015 |
LOCATIONS
|
Registered Office : |
101, Himalaya House, 79, R.A. Marg, Mumbai-400001, Maharashtra, India |
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Tel. No.: |
91-022-22621673/74/75 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory : |
Survey No.57/1(7), Village Dunetha, Daman, India. |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Pradeep Gulabrai Gandhi |
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Designation : |
Director |
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Address : |
21, Vallabh Apartments, 87, Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
11.07.1959 |
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Date of Appointment : |
15.12.1977 |
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DIN No.: |
00642408 |
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Other Directorship:
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Name : |
Mr. Ajay Gulabrai Gandhi |
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Designation : |
Director |
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Address : |
B-252, Grand Paradi, A. Kranti Road, Mumbai – 400036, Maharashtra,
India |
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Date of Birth/Age : |
19.04.1957 |
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Date of Appointment : |
15.12.1977 |
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DIN No.: |
01633803 |
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Other Directorship:
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Name : |
Mr. Gulabrai Vrajdas Gandhi |
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Designation : |
Director |
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Address : |
21, Vallabh Apartments, 87, Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
05.08.1928 |
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Date of Appointment : |
06.05.1965 |
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DIN No.: |
00642353 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Desai |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Gulabhai V. Gandhi and Shantaben G. Gandhi |
99 |
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Shantaben G. Gandhi and Gulabhai V. Gandhi |
100 |
|
Ajay G.
Gandhi and Aarti A. Gandhi |
100 |
|
Pradeep G. Gandhi and Chhaya
P. Gandhi |
1520 |
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Jayashree S. Morzaria and Subhash K. Morzaria |
1 |
|
Ajay G. Gandhi (H.U.F) and Aarti A. Gandhi |
30 |
|
Pradeep G. Gandhi (H.U.F) and
Chhaya P. Gandhi |
50 |
|
Consumers Plastics Private Limited, |
10 |
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Aarti A. Gandhi and Ajay G.
Gandhi |
11 |
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Chhaya P. Gandhi and Pradeep G. Gandhi |
686 |
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Heeral Pradeep Gandhi and Chhaya P. Gandhi |
1 |
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Shamit Ajay Gandhi and Aarti A. Gandhi |
1 |
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Vinay P. Gandhi and Pradeep G. Gandhi |
400 |
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Heeral P Gandhi and Pradeep G. Gandhi |
200 |
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Vinay P. Gandhi and Shweta V. Gandhi |
1 |
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Total |
3210 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage of
Holding |
|
Bodies corporate |
0.31 |
|
Directors or relatives of Directors |
99.69 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Importing of PVC Transparent Tubing PVC branded, Hoses. |
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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 : |
PVC Transparent Tubing, PVC Braided |
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Countries : |
· Middle East · Dubai |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Taiwan |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
50 (Approximately) |
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Bankers : |
· State Bank of India Saki Naka Branch, Vihar Lake Road, Mumbai-400072, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Ladhawala and Shah Chartered Accountants |
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Address : |
Maitri Heights, First Floor, 74, Bhaudaji Road, Matunga C.R., Mumbai –
400 019, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFL0743R |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Parties : |
Consumer Plastics Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
5000 |
Equity Shares |
Rs.100/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
3210 |
Equity Shares |
Rs.100/- each |
Rs. 0.321
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.321 |
0.321 |
0.321 |
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(b) Reserves & Surplus |
120.326 |
117.034 |
108.000 |
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(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds (1) + (2) |
120.647 |
117.355 |
108.321 |
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(3) Non-Current
Liabilities |
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(a) long-term
borrowings |
0.970 |
0.487 |
0.701 |
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(b) Deferred tax liabilities (Net) |
3.661 |
3.819 |
4.037 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current Liabilities
(3) |
4.631 |
4.306 |
4.738 |
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(4) Current Liabilities |
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(a) Short term
borrowings |
20.093 |
13.471 |
10.824 |
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(b) Trade payables |
4.147 |
1.109 |
2.905 |
|
(c) Other current
liabilities |
3.690 |
4.367 |
4.080 |
|
(d) Short-term
provisions |
1.688 |
5.110 |
8.615 |
|
Total Current
Liabilities (4) |
29.618 |
24.057 |
26.424 |
|
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|
|
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TOTAL |
154.896 |
145.718 |
139.483 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
|
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|
|
(i) Tangible assets |
16.685 |
17.310 |
18.777 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.150 |
|
(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 |
27.199 |
19.627 |
8.748 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.566 |
0.122 |
0.185 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
44.450 |
37.059 |
27.860 |
|
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|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
14.026 |
10.979 |
14.430 |
|
(c) Trade receivables |
12.580 |
10.218 |
9.728 |
|
(d) Cash and cash equivalents |
4.378 |
1.648 |
1.993 |
|
(e) Short-term loans
and advances |
79.462 |
85.814 |
85.472 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
110.446 |
108.659 |
111.623 |
|
|
|
|
|
|
TOTAL |
154.896 |
145.718 |
139.483 |
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
|
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|
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Other Income |
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|
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TOTAL |
65.928 |
62.832 |
70.636 |
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EXPENSES |
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TOTAL |
NA |
NA |
NA |
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PROFIT/(LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
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|
|
|
Provision For
Taxation |
1.650 |
5.255 |
5.550 |
|
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|
|
|
|
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|
Deferred Tax
Credit |
0.158 |
0.218 |
NA |
|
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|
PROFIT/(LOSS)
AFTER TAX |
3.292
|
9.034 |
10.144 |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
: Export Earnings |
2.112 |
1.870 |
NA |
|
|
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TOTAL EARNINGS |
2.112 |
1.870 |
NA |
|
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|
|
|
|
|
Earnings Per
Share (Rs.) |
1025.55 |
NA |
NA |
|
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 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.17 |
0.12 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.73 |
4.52 |
4.22 |
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 |
0.321 |
0.321 |
0.321 |
|
Reserves & Surplus |
108.000 |
117.034 |
120.326 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
108.321 |
117.355 |
120.647 |
|
|
|
|
|
|
long-term borrowings |
0.701 |
0.487 |
0.970 |
|
Short term borrowings |
10.824 |
13.471 |
20.093 |
|
Total borrowings |
11.525 |
13.958 |
21.063 |
|
Debt/Equity ratio |
0.106 |
0.119 |
0.175 |
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) |
|
Total Income |
70.636 |
62.832 |
65.928 |
|
|
|
(11.048) |
4.927 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
70.636 |
62.832 |
65.928 |
|
Profit |
10.144 |
9.034 |
3.292 |
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 |
Yes |
|
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 |
No |
|
19 |
Major customers |
No |
|
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
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand |
|
|
|
From other parties |
14.594 |
0.000 |
|
Loan and Advances from related parties |
0.000 |
13.750 |
|
Total |
14.594 |
13.750 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10505707 |
09/04/2015 * |
17,700,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (East), MUMBAI-400051, MAHARASHTRA, INDIA |
C52143047 |
* Date of charge
modification
FIXED ASSETS
- Land at Daman
- Factory Building (At Daman)
- Godown
- Office Premises
- Plant and Machinery
- Electrical Fittings and Installations
- Dies and Moulds
- Furniture and Fixtures
- Air Conditioner
- Computer
- Office Equipments
- Motor Cars
- Factory Equipments
- Cooling Process
- Scooter
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. 63.55 |
|
|
1 |
Rs. 99.86 |
|
Euro |
1 |
Rs. 72.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
|
46 |
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.