MIRA INFORM REPORT

 

 

Report No. :

323574

Report Date :

23.05.2015

 

IDENTIFICATION DETAILS

 

Name :

SONA PACKAGING INDUSTRIES PRIVATE LIMITED

 

 

Registered Office :

Kataiya, Padsari-8, Rupandehi Dist, Lumbini Zone

 

 

Country :

Nepal

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

01.12.2007

 

 

Legal Form :

Nepal Private Limited Company

 

 

Line of Business :

Converter of Flexible Packaging Materials.

 

 

No. of Employees :

125 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Nepal

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

NEPAL - ECONOMIC OVERVIEW

 

Nepal is among the poorest and least developed countries in the world, with about one-quarter of its population living below the poverty line. Nepal is heavily dependent on remittances, which amount to as much as 22-25% of GDP. Agriculture is the mainstay of the economy, providing a livelihood for more than 70% of the population and accounting for a little over one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Nepal has considerable scope for exploiting its potential in hydropower, with an estimated 42,000 MW of commercially feasible capacity, but political uncertainty and a difficult business climate have hampered foreign investment. Additional challenges to Nepal's growth include its landlocked geographic location, persistent power shortages, underdeveloped transportation infrastructure, civil strife and labor unrest, and its susceptibility to natural disaster. The lack of political consensus in the past several years has delayed national budgets and prevented much-needed economic reform, although the government passed a full budget in 2013 and 2014. Nepal and India signed trade and investment agreements in 2014 that will amp up Nepal’s hydropower potential.

 

Source : CIA

 

Company Identification Details

 

Enquired Name

:

Sona Packaging Industries Private Limited

Correct Name of Company

:

Sona Packaging Industries Private Limited

Registered Office

:

Kataiya, Padsari-8, Rupandehi Dist,

Lumbini Zone, Nepal

Mobile: 00977-9857023747
Phone: 00977-71-524243 / 429452
Fax No: 00977-71-523514
E-Mail: sona07_ptg@yahoo.co.in

Location :

 

Owned

 

 

Industry

:

Flexible Packaging Materials in the Himalayan Kingdom of Nepal

Nature of Activity

:

Sona Packaging Industries Private Limited was established in 2007 as a leading converter of Flexible Packaging Materials in the Himalayan Kingdom of Nepal with an integrated production facility at Kataiya, Padsari-8, Rupandehi District, Lumbini Zone, Nepal. The Company's priority has always been complete satisfaction of the customer and to meet this goal, we have setup Nepal’s First Auto-Registration Control (ARC) System with ItalianWeb-Video Inspection along with Printing & Lamination. We have capacity to convert more than 200 Tons per month.
The commitment to providing quality products and innovative, value-added services and solutions is critical to our goal of exceeding our customers' expectations for quality, a fair price and, excellent service. In the pursuit of this commitment, our team of highly trained and dedicated technicians keeps a constant watch and control on the quality of products at every step of production.
By developing a deep understanding of our customer's needs and the markets they serve, and partnering with our valued suppliers, we are able to assist our customers in bringing film and packaging innovations to the market ahead of their competition.
With extensive research and development capabilities our Film and Packaging experts shall create a company with one vision: to support our customer's needs for rapid innovation and develop film and flexible packaging solutions that bring value to the market place.

 

 

Official Company Data

 

Legal Form

:

Nepal Private Limited Company

Corporate Identity Number (CIN)

:

44705

ROC Code 

:

Kathmandu

Registration Date

:

01.12.2007

Issuing Authority

:

Registrar of Companies (ROC)

PAN

:

302626871

Authorised Capital

:

Authorised Capital : 10,000,000/- (1,000,000 Equity Shares of Rs.100/- each)

Paid-up Capital

:

Paidup : 7,500,000/- (75,000 of Rs.100/- each)

Employee

:

106

 

 

 

Business Activity / Product

Description

:

Sona Packaging Industries Private Limited was established in 2007 as a leading converter of Flexible Packaging Materials in the Himalayan Kingdom of Nepal with an integrated production facility at Kataiya, Padsari-8, Rupandehi District, Lumbini Zone, Nepal. The Company's priority has always been complete satisfaction of the customer and to meet this goal, we have setup Nepal’s First Auto-Registration Control (ARC) System with ItalianWeb-Video Inspection along with Printing & Lamination. We have capacity to convert more than 200 Tons per month.
The commitment to providing quality products and innovative, value-added services and solutions is critical to our goal of exceeding our customers' expectations for quality, a fair price and, excellent service. In the pursuit of this commitment, our team of highly trained and dedicated technicians keeps a constant watch and control on the quality of products at every step of production.
By developing a deep understanding of our customer's needs and the markets they serve, and partnering with our valued suppliers, we are able to assist our customers in bringing film and packaging innovations to the market ahead of their competition.
With extensive research and development capabilities our Film and Packaging experts shall created a company with one vision: to support our customer's needs for rapid innovation and develop film and flexible packaging solutions that bring value to the market place.

Auditor

:

R. K. Shrestha & Co.

Bankers

:

Nepal Bank Limited, Nepal

Nepal Grindlays Bank Ltd., Nepal

Nepal Investment Bank, Butwal, Nepal

Importers of :

 

Products: Finished Goods

Countries : India

 

 

Board of Directors

 

Mr. U. S. Manpani

Mr. Kamal Kishore Manpani

Mr. Manish Roongta

Mr. Rishi Bahadur Bhandari

 

 

Financial

 

Authorised Capital : 10,000,000/- (1,000,000 Equity Shares of Rs.100/- each)

Paidup : 7,500,000/- (75,000 of Rs.100/- each)

BALANCE SHEET AS AT 31.03.2013

Liabilities

Amount (Rs.)

 

Assets

Amount (Rs.)

 

 

 

 

 

Paid up Capital

7,500,000

 

Fixed Assets

22,746,627

Reserve & Surplus

3,893,729

 

Capital Work in Progress

569,380

Secured Loan

24,127,815

 

Inventories

5,844,414

Unsecured Loan

25,918,695

 

Sundry Debtors

19,928,556

Deffered Tax

2,976,081

 

Cash & Bank

4,090,746

Current Liabilities & Prov.

11,496,077

 

Loans & Advances

2,716,474

 

 

 

Miescellaneous Expenses

16,200

 

 

 

Invesments

20,000,000

Total

75,912,397

 

 

75,912,397

 

 

 

 

 

 

Rs.

 

Sales

78,994,396

 

Profit Before Tax

614,266

 

Profit After Tax

191,795

 

 

 

 

 

 

BALANCE SHEET AS AT 31.03.2012

Liabilities

Amount (Rs.)

 

Assets

Amount (Rs.)

 

 

 

 

 

Paid up Capital

7,500,000

 

Fixed Assets

15,747,987

Reserve & Surplus

4,085,524

 

Inventories

19,564,866

Secured Loan

13,944,761

 

Sundry Debtors

21,288,392

Unsecured Loan

23,025,310

 

Cash & Bank

2,936,484

Deffered Tax

2,323,462

 

Loans & Advances

1,863,471

Current Liabilities & Prov.

10,546,443

 

Miescellaneous Expenses

24,300

 

 

 

 

 

 

 

 

 

 

Total

61,425,500

 

Total

61,425,500

 

 

 

 

 

Sales

47,029,273

 

Profit Before Tax

1,182,580

 

Profit After Tax

653,077

 

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Shyam Parashar

Designation :

Chief Executive Officer 

Contact No.:

00977-9857023747

Date :

21.05.2015

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.70

UK Pound

1

Rs.98.92

Euro

1

Rs.70.67

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

VNT

 

               

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 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%)

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.