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|
MIRA INFORM REPORT
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Report No. : |
501871 |
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Report Date : |
04.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PLASTENE INDIA LIMITED (w.e.f. 02.01.2007) |
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Formerly Known
As : |
OSWAL AGLOIMPEX LIMITED (w.e.f. 24.05.2006) OSWAL AGLOIMPEX PRIVATE LIMITED |
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Registered
Office : |
H.B. Jirawala House, 13, Nav Bharat Society, Opposite Panchsheel Bus
Stand, Usmanpura, Ahmedabad – 380013, Gujarat |
|
Tel. No.: |
91-79-27550764 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
16.10.1998 |
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Com. Reg. No.: |
04-034861 |
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Capital
Investment / Paid-up Capital : |
INR 281.982 Million |
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CIN No.: [Company Identification
No.] |
U25209GJ1998PLC034861 |
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IEC No.: |
3798000344 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACO3087C |
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GSTN : [Goods & Service Tax
Registration No.] |
24AAACO3087C1ZT |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of all kinds of plastic products mainly includes Jumbo Bags, Woven Sacks, Woven Fabric, Laminates, Multifilament Yarns, Masterbatches, Flexible Packaging for Food Grains, Pharmaceutical, Chemical, Cement etc. (Registered Activity) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated on 16th October 1998 and is the flagship
company of “Champalal Group”. The company is engaged in manufacturing of all kinds of plastic
products mainly includes Jumbo Bags, Woven Sacks, Woven Fabric, Laminates,
Multifilament Yarns, Masterbatches, Flexible Packaging for Food Grains,
Pharmaceutical, Chemical, Cement etc. For the financial year ended 2017, the company has achieved 4.64%
growth in its revenue as compared to previous year revenue but has reported a
low profit margin of 0.51%. The sound financial risk profile of the company is marked by adequate
networth base along with comfortable debt balance sheet profile. Rating takes into consideration the vast experience of the promoters
marked by established track record of operations of the company in the
flexible plastic packaging industry along with its diversified clientele
base. Payment seems to be usually correct. In view of aforesaid, the company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Borrowing (Withdrawn)=BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
19.07.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Borrowing (Withdrawn)=A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
19.07.2017 |
Reason for suspension : At Company’s Request.
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 04.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-79-27550764)
(Tel. No.: 91-27561000 – Incorrect number)
LOCATIONS
|
Registered Office : |
H.B. Jirawala House, 13, Nav Bharat Society, Opposite Panchsheel Bus
Stand, Usmanpura, Ahmedabad – 380013, Gujarat, India |
|
Tel. No.: |
91-79-27550764 |
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Fax No.: |
91-79-27551764 |
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E-Mail : |
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Website : |
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Factory 1 : |
Survey No.317/1, Nani Chirai, Kutch – 370140, Gujarat, India |
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Factory 2 : |
Survey No.1551 and 1552/1, Village Rajpur, Ahmedabad Mehsana Highway No.8, Taluka Kadi, District: Mehsana – 382715, Gujarat, India |
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Gandhidham Office : |
D-93, Jhanda Chowk, Gandhidham - 370201, Gujarat, India |
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Tel. No.: |
91-2836-226629/ 394906 |
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Fax No.: |
91-2836-236872 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Prakashkumar Hiralal Parekh |
|
Designation : |
Managing Director |
|
Address : |
7/B, Sumati Nagar Society, Usmanpura, Ahmedabad - 380013, Gujarat, India |
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Date of Birth/Age : |
26.09.1973 |
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Qualification : |
Bachelors in chemical engineering and sap graduate |
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Date of Appointment : |
23.12.2005 |
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PAN No.: |
ADAPP3077D |
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DIN No.: |
00158264 |
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|
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Name : |
Mr. Chetankumar Shantilal Parekh |
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Designation : |
Director |
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Address : |
Plot No 183, Sector 4, Gandhidham - 370201, Gujarat, India |
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Date of Birth/Age : |
30.01.1982 |
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Qualification : |
Bachelors of business administrator |
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Date of Appointment : |
26.09.2014 |
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PAN No.: |
AHIPP9683P |
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DIN No.: |
00159465 |
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Name : |
Mr. Parvesh Chander Suri |
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Designation : |
Director |
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Address : |
A-3, Navroj Appartments, Dafnala Shahibaug, Ahmedabad - 380004, Gujarat, India |
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Date of Birth/Age : |
31.12.1942 |
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Date of Appointment : |
30.09.2008 |
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PAN No.: |
AJYPS8727M |
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DIN No.: |
01861687 |
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Name : |
Ms. Hetalben Laxmanbhai Vekaria |
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Designation : |
Director |
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Address : |
Plot No. 81, Sector 4, Near Iob Bank, Gandhidham - 370201, Gujarat, India |
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Date of Birth/Age : |
08.11.1982 |
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Date of Appointment : |
18.05.2016 |
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DIN No.: |
07521100 |
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Name : |
Mr. Badrishbhai Navnitbhai Modi |
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Designation : |
Director |
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Address : |
B-403, Dreamcity, Near Mavdi Smachan, Rajkot - 360005, Gujarat, India |
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Date of Birth/Age : |
21.03.1980 |
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Qualification : |
Master of business administrator in finance |
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Date of Appointment : |
03.03.2017 |
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PAN No.: |
AIGPM3463K |
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DIN No.: |
07752959 |
KEY EXECUTIVES
|
Name : |
Mr. Chetankumar Shantilal Parekh |
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Designation : |
Chief Financial Officer |
|
Address : |
Plot No. 183, Sector 4, Gandhidham - 370201, Gujarat, India |
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Date of Birth/Age : |
30.01.1982 |
|
Date of Appointment : |
26.09.2014 |
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PAN No.: |
AHIPP9683P |
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|
|
|
Name : |
Ms. Munmun Sourendra Dutta |
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Designation : |
Company Secretary |
|
Address : |
A-3, Suresha Apartments, Ahmedabad - 380009, Gujarat, India |
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Date of Appointment : |
30.06.2016 |
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PAN No : |
AJPPD2291J |
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Name : |
Mr. Soumya Das |
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Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
NOTE: SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
27.22 |
|
Promoters (Body corporate) |
53.93 |
|
Public/Other than promoters (Individual/Hindu Undivided Family-Indian) |
15.71 |
|
Public/Other than promoters (Body corporate) |
3.14 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of all kinds of plastic products mainly includes Jumbo Bags, Woven Sacks, Woven Fabric, Laminates, Multifilament Yarns, Masterbatches, Flexible Packaging for Food Grains, Pharmaceutical, Chemical, Cement etc. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 : |
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Facilities : |
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Auditors : |
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Name : |
S R B C and Company LLP Chartered Accountants |
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Address : |
2nd Floor, Shivalik Ishan, Near C.N Vidhyalaya, Ambawadi ,Ahmedabad-380015, Gujarat, India |
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Income-tax
PAN of auditor or auditor's firm : |
ACHFS9117R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company : |
Oliva Garden S.A, Uruguay |
CAPITAL STRUCTURE
As on 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36000000 |
Equity Shares |
INR 10/- each |
INR 360.000 Million |
|
100000 |
Preference Shares |
INR 10/- each |
INR 1.000 Million |
|
|
Total
|
|
INR 361.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28098189 |
Equity Shares |
INR 10/- each |
INR 280.982
Million |
|
100000 |
Preference Shares |
INR 10/- each |
INR 1.000 Million |
|
|
Total
|
|
INR 281.982
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET – (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
281.982 |
281.982 |
281.982 |
|
(b) Reserves and Surplus |
1032.285 |
1004.616 |
937.645 |
|
(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) |
1314.267 |
1286.598 |
1219.627 |
|
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
495.359 |
188.329 |
154.704 |
|
(b) Deferred tax liabilities (Net) |
126.470 |
146.339 |
160.460 |
|
(c) Other long-term
liabilities |
121.717 |
361.791 |
150.149 |
|
(d) long-term
provisions |
13.163 |
10.055 |
8.300 |
|
Total Non-current
Liabilities (3) |
756.709 |
706.514 |
473.613 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2064.791 |
1970.176 |
1801.325 |
|
(b) Trade
payables |
224.114 |
244.801 |
186.912 |
|
(c) Other
current liabilities |
206.576 |
112.884 |
135.500 |
|
(d) Short-term
provisions |
9.418 |
22.368 |
15.773 |
|
Total Current Liabilities
(4) |
2504.899 |
2350.229 |
2139.510 |
|
|
|
|
|
|
TOTAL |
4575.875 |
4343.341 |
3832.750 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
967.233 |
1023.045 |
1102.073 |
|
(ii)
Intangible Assets |
25.681 |
47.490 |
71.215 |
|
(iii) Tangible assets capital work-in-progress |
0.000 |
0.000 |
15.961 |
|
(iv) Intangible assets under development or work-in-progress |
18.165 |
18.633 |
0.000 |
|
(b) Non-current Investments |
181.373 |
181.373 |
181.335 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term loans and advances |
161.756 |
123.384 |
39.230 |
|
(e) Other Non-current assets |
0.762 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1354.970 |
1393.925 |
1409.814 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.166 |
0.169 |
|
(b) Inventories |
1084.380 |
852.693 |
899.208 |
|
(c) Trade receivables |
1627.410 |
1512.906 |
930.427 |
|
(d) Cash and bank balances |
44.949 |
49.421 |
90.718 |
|
(e) Short-term loans and advances |
321.072 |
306.521 |
289.013 |
|
(f) Other current assets |
143.094 |
227.709 |
213.401 |
|
Total
Current Assets |
3220.905 |
2949.416 |
2422.936 |
|
|
|
|
|
|
TOTAL |
4575.875 |
4343.341 |
3832.750 |
PROFIT
& LOSS ACCOUNT – (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
5464.891 |
5222.755 |
4958.629 |
|
|
Other Income |
39.961 |
37.472 |
22.534 |
|
|
TOTAL |
5504.852 |
5260.227 |
4981.163 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2916.230 |
2235.004 |
2309.562 |
|
|
Purchases of
Stock-in-Trade |
1237.052 |
1763.615 |
1437.969 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(80.749) |
61.390 |
87.486 |
|
|
Employee benefit expense |
197.908 |
170.514 |
171.058 |
|
|
Other expenses |
697.537 |
488.984 |
496.573 |
|
|
Prior period items before tax |
50.975 |
0.000 |
0.000 |
|
|
TOTAL |
5018.953 |
4719.507 |
4502.648 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
485.899 |
540.720 |
478.515 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
312.548 |
324.356 |
297.772 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
173.351 |
216.364 |
180.743 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
133.211 |
130.983 |
103.272 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
40.140 |
85.381 |
77.471 |
|
|
|
|
|
|
|
Less |
TAX |
12.471 |
18.410 |
24.083 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
27.669 |
66.971 |
53.388 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2786.043 |
1966.548 |
1634.642 |
|
|
TOTAL EARNINGS |
2786.043 |
1966.548 |
1634.642 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1265.742 |
1033.159 |
366.673 |
|
|
Components and spare
parts |
0.000 |
0.000 |
1.692 |
|
|
TOTAL IMPORTS |
1265.742 |
1033.159 |
368.365 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.98 |
2.38 |
1.89 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
126.260 |
58.412 |
103.333 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(33.716) |
144.317 |
289.064 |
|
Net cash flow from operating activity |
(96.348) |
81.430 |
266.561 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
108.69 |
105.73 |
68.49 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
3.36 |
3.45 |
5.33 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
19.70 |
22.35 |
18.20 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.45 |
0.63 |
0.53 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.48 |
0.50 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.68 |
0.60 |
0.63 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.04 |
1.72 |
1.69 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.91 |
1.83 |
1.75 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.77 |
0.85 |
0.98 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.55 |
1.67 |
1.61 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
0.51 |
1.28 |
1.08 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.60 |
1.54 |
1.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
2.11 |
5.21 |
4.38 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.29 |
1.25 |
1.13 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.85 |
0.89 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.29 |
0.30 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
9.53 |
7.86 |
7.30 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.29 |
1.25 |
1.13 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
281.982 |
281.982 |
281.982 |
|
Reserves & Surplus |
937.645 |
1004.616 |
1032.285 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1219.627 |
1286.598 |
1314.267 |
|
|
|
|
|
|
Long-term borrowings |
154.704 |
188.329 |
495.359 |
|
Short term borrowings |
1801.325 |
1970.176 |
2064.791 |
|
Current maturities of
long-term debts |
103.333 |
58.412 |
126.260 |
|
Total
borrowings |
2059.362 |
2216.917 |
2686.410 |
|
Debt/Equity
ratio |
1.689 |
1.723 |
2.044 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4958.629 |
5222.755 |
5464.891 |
|
|
|
5.327 |
4.636 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4958.629 |
5222.755 |
5464.891 |
|
Profit/ (Loss) |
53.388 |
66.971 |
27.669 |
|
|
1.08
% |
1.28
% |
0.51
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
281.982 |
281.982 |
|
(b) Reserves and Surplus |
|
1078.211 |
1031.559 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1360.193 |
1313.541 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
495.359 |
188.329 |
|
(b) Deferred tax liabilities (Net) |
|
126.470 |
146.339 |
|
(c) Other long-term
liabilities |
|
121.717 |
361.791 |
|
(d) long-term provisions |
|
13.163 |
10.055 |
|
Total Non-current
Liabilities (3) |
|
756.709 |
706.514 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
2064.791 |
1970.176 |
|
(b) Trade
payables |
|
225.224 |
245.703 |
|
(c) Other current
liabilities |
|
222.763 |
127.665 |
|
(d) Short-term
provisions |
|
9.418 |
23.550 |
|
Total Current
Liabilities (4) |
|
2522.196 |
2367.094 |
|
|
|
|
|
|
TOTAL |
|
4639.098 |
4387.149 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
982.783 |
1044.060 |
|
(ii)
Intangible Assets |
|
41.678 |
63.487 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development or work-in-progress |
|
18.165 |
18.633 |
|
(b) Non-current Investments |
|
181.339 |
181.339 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
162.093 |
123.384 |
|
(e) Other
Non-current assets |
|
0.762 |
0.000 |
|
Total Non-Current
Assets |
|
1386.820 |
1430.903 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.312 |
|
(b)
Inventories |
|
1107.474 |
877.130 |
|
(c) Trade
receivables |
|
1610.451 |
1479.471 |
|
(d) Cash and
bank balances |
|
56.504 |
56.733 |
|
(e)
Short-term loans and advances |
|
334.755 |
306.521 |
|
(f) Other
current assets |
|
143.094 |
236.079 |
|
Total
Current Assets |
|
3252.278 |
2956.246 |
|
|
|
|
|
|
TOTAL |
|
4639.098 |
4387.149 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
5536.067 |
5295.021 |
|
|
Other Income |
|
39.961 |
37.472 |
|
|
TOTAL |
|
5576.028 |
5332.493 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
2931.182 |
2263.835 |
|
|
Purchases of
Stock-in-Trade |
|
1237.052 |
1763.615 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(85.606) |
64.148 |
|
|
Employee benefit expense |
|
216.181 |
185.572 |
|
|
Other expenses |
|
713.237 |
504.219 |
|
|
Prior period items before tax |
|
50.975 |
0.000 |
|
|
TOTAL |
|
5063.021 |
4781.389 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
513.007 |
551.104 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
312.714 |
322.712 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
200.293 |
228.392 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
135.806 |
134.091 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
64.487 |
94.301 |
|
|
|
|
|
|
|
Less |
TAX |
|
14.924 |
20.125 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
49.563 |
74.176 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
1.76 |
2.63 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The Registered Office of the Company has been shifted from 317/1, Nani Chirai, Kutch – 370140, Gujarat, India, to the present address w.e.f. 02.01.2006.
CORPORATE INFORMATION
The Company is a public company which was incorporated on October 16, 1998 under the provision of the Companies Act, 1956. The Company was originally incorporated on as Oswal Agloimpex Private Limited at Ahmedabad, Gujarat and was converted into public limited company in 2006. Thereafter, the name of the company was changed to Plastene India Limited. The objective is to manufacture all kinds of plastic products mainly includes Jumbo Bags, Woven Sacks, Woven Fabric, Laminates, Multifilament Yarns, Masterbatches, Flexible Packaging for Food Grains, Pharmaceutical, Chemical, Cement etc.
STATE OF COMPANYS
AFFAIRS AND FUTURE OUTLOOK
In the Financial year 2016-17, the Company has tried to deliver consistent and competitive business performance. In the Financial year 2016-17, the turnover of the Company has increased from INR 5222.755 Million to INR 5464.891 Million. Net Profit is at INR 27.669 Million.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
1.091 |
2.860 |
|
|
|
|
|
Total |
1.091 |
2.860 |
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G13116090 |
100052233 |
DENA BANK |
12/09/2016 |
- |
- |
250000000.0 |
DENA LAXMI BUILDING ASHRAM ROAD AHMEDABAD GUJARAT 380009 INDIA |
|
2 |
B38097648 |
10351436 |
Export-Import Bank of India |
25/04/2012 |
- |
- |
150000000.0 |
Centre One Building, Floor 21 World Trade Centre Complex, Cuffe Parade, Mumbai MAHARASHTRA 400005 INDIA |
|
3 |
G00331520 |
90104323 |
PNB INVESTMENT SERVICES LIMITED |
21/12/2004 |
30/03/2016 |
- |
3066700000.0 |
C/o Punjab National Bank Circle Office, 6th Floor, Gujarat Bhavan, Nr. M. J. Library, Ashram Road Ahmedabad GUJARAT 380006 INDIA |
|
4 |
G00442343 |
90105465 |
PNB INVESTMENT SERVICES LIMITED |
21/12/2004 |
30/03/2016 |
- |
3066700000.0 |
C/o Punjab National Bank Circle Office, 6th Floor, Gujarat Bhavan, Nr. M. J. Library, Ashram Road Ahmedabad GUJARAT 380006 INDIA |
|
5 |
G75623751 |
10578666 |
BANK OF BARODA |
10/07/2015 |
- |
18/01/2018 |
360000000.0 |
CORPORATE FINANCIAL SERVICES BRANCHFIRST FLOOR, OPP. PETROL PUMP, R. C. DUTT ROAD, VADODARA GUJARAT 390007 INDIA |
|
6 |
G71452064 |
10461106 |
HDFC BANK LIMITED |
19/11/2013 |
- |
06/12/2017 |
1910000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI MAHARASHTRA 400013 INDIA |
|
7 |
G44154730 |
10090762 |
HDFC BANK LIMITED |
04/02/2008 |
- |
01/05/2017 |
693000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI MAHARASHTRA 400013 INDIA |
|
8 |
G42433490 |
10531822 |
State Bank of India |
31/10/2014 |
- |
25/04/2017 |
965000000.0 |
INDUSTRIAL FINANCE BRANCH,1ST FLOOR ISCON ELEGANCENEAR SHAPAT V, S.G HIGHWAY AHMEDABAD GUJARAT 380015 INDIA |
|
9 |
G42433441 |
10403777 |
STATE BANK OF INDIA |
19/01/2013 |
- |
25/04/2017 |
100000000.0 |
Industrial Finance Branch1st Floor, Neptune Tower Annex, Ashram Road AHMEDABAD GUJARAT 380009 INDIA |
|
10 |
G11540689 |
10443222 |
MAGMA FINCORP LIMITED |
08/07/2013 |
- |
01/09/2016 |
40000000.0 |
MAGMA HOUSE24 PARK STREET KOLKATA WEST BENGAL 700016 INDIA |
FIXED ASSETS
- Land
- Buildings
- Office building
- Factory building
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 91.45 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.