|
|
|
MIRA INFORM REPORT
|
Report No. : |
502112 |
|
Report Date : |
04.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
VISHAKHA POLYFAB PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 549/2, Village Vadsar, P.O. Khatraj, (Near Vadsar Air Force Base), Taluka: Kalol, Gandhinagar – 382721, Gujarat |
|
Tel. No.: |
91-2764-281048 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
29.12.1993 |
|
|
|
|
Com. Reg. No.: |
04-020968 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 75.123 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110GJ1993PTC020968 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0800000471 |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
24AAACV6439R1ZP |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACV6439R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing of 3 layer, 5 layer, 7 layer and 9 layer film rolls and pouches (printed and plain). [Registered activity and also confirmed by management] |
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|
|
|
No. of Employees
: |
450 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1993. It is a Manufacturing of 3 layer, 5 layer, 7 layer and 9 layer film rolls and pouches (printed and plain). For the financial year ended 2017, the company has achieved a satisfactory growth of 11.79% in its revenue as compared to the previous year’s revenue and has reported a fair net profit margin of 5.17%. The company possesses healthy financial position marked by adequate networth base along with low debt balance sheet profile and favourable liquidity position. Business is active. 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
BRICKWORK |
|
Rating |
Long Term Loans = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
23.08.2017 |
|
Rating Agency Name |
BRICKWORK |
|
Rating |
Short Term Loans = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
23.08.2017 |
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 PARTED BY
|
Name : |
Mr. Chandresh Shah |
|
Designation : |
Deputy General Finance Manager |
|
Contact No.: |
91-9909930960 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 549/2, Village Vadsar, P.O. Khatraj, (Near Vadsar Air Force Base), Taluka: Kalol, Gandhinagar – 382721, Gujarat, India |
|
Tel. No.: |
91-2764-281048 |
|
Mobile No.: |
91-9909930960 (Mr. Chandresh Shah) |
|
Fax No.: |
91-2764-281795 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
40,000 sq. mtr. |
|
Location : |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Administrative / Head Office: |
"Vishakha House", Ashirwad Paras, Corporate House No.2, Near Riviera Elegance Flat, Corporate Road, Prahladnagar, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
|
|
Fax No.: |
91-79-61907340 |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Jigishkumar Nagindas Doshi |
|
Designation : |
Director |
|
Address : |
6, Shrushti Bunglows, Ashwamegh, 4B Extension, 132 Ring Road,
Satellite, Ahmedabad – 380015, Gujarat, India
|
|
Date of Birth/Age : |
17.01.1961 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
10.12.1999 |
|
PAN No.: |
AARPD3666Q |
|
DIN No.: |
00380192 |
|
|
|
|
Name : |
Mr. Bhardresh Nagindas Doshi |
|
Designation : |
Director |
|
Address : |
26, Shrushti Bunglows, Ashwamegh, 4B Extension, 132 Ring Road,
Satellite, Ahmedabad – 380015, Gujarat, India
|
|
Date of Birth/Age : |
08.02.1956 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
08.06.2000 |
|
PAN No.: |
AAJPD6032C |
|
DIN No.: |
00380239 |
|
|
|
|
Name : |
Mr. Jayesh Hasmukhlal Shah |
|
Designation : |
Director |
|
Address : |
2, Adesh Flats, 14, Dharnidhar Society, Near Dharnidhar Derasar,
Vanna, Ahmedabad – 380007, Gujarat, India
|
|
Date of Birth/Age : |
04.10.1965 |
|
Qualification : |
Cost Accountant |
|
Date of Appointment : |
28.05.2010 |
|
DIN No.: |
03085675 |
|
|
|
|
Name : |
Mr. Rajneesh Pawankumar Bansal |
|
Designation : |
Additional Director |
|
Address : |
104, Indraprasth 10, Judges Bungalow Road, Bodakdev Fire Station, Ahmedabad – 380054, Gujarat, India |
|
Date of Appointment : |
02.02.2017 |
|
DIN No.: |
06544841 |
KEY EXECUTIVES
|
Name : |
Jimmy K Dagli |
|
Designation : |
Secretary |
|
Address : |
H/71, New Prabhupark Society, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
18.05.2015 |
|
PAN No.: |
AKLPD9919Q |
|
|
|
|
Name : |
Mr. Chandresh Shah |
|
Designation : |
Deputy General Finance Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Jigish Doshi |
|
2965783 |
|
Bhadresh Doshi |
|
394928 |
|
Umesh Doshi |
|
394928 |
|
Jigish Doshi (Nominee of Labdhi International Private Limited) |
|
500 |
|
Adani Wilmar Limited, India |
|
3756150 |
|
Jigish Doshi (Nominee of Vishakha Industries) |
|
1 |
|
Jigish Doshi (Nominee of Jigish Plastics) |
|
10 |
|
|
|
|
|
Total |
|
7512300 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
49.99 |
|
Promoters [Bodies
corporate] |
50.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of 3 layer, 5 layer, 7 layer and 9 layer film rolls and pouches (printed and plain). [Registered activity and also confirmed by management] |
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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 : |
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Products : |
·
Finished Goods |
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Countries : |
· United Kingdom · United States of America · United Arab Emirates · New Zealand · Australia · Russia |
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Imports : |
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Products : |
·
Raw Material |
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Countries : |
· Singapore · Germany |
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Terms : |
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Selling : |
L/C, Cheque and Credit (30/ 60 Days) |
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Purchasing : |
L/C, Cheque and Credit (30/ 60 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users, OEM’s
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No. of Employees : |
450 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303/ 304, Milestones Near Drive-In Cinema, Opposite T V
Tower, Thaltej, Ahmedabad – 380054, Gujarat, India |
|
PAN No.: |
AAGFD1279G |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Joint Venture : |
·
Adani Wilmar Limited (CIN No.:
U15146GJ1999PLC035320) |
|
|
|
|
Associates : |
· Doshi Marketing · Vishakha Industries · Labdhi International Private Limited · Vishakha Irrigation Private Limited · Krishnapatnam Oils and Fats Private Limited · Satya Sai Agroils Private Limited · Jigish Marketing · Jigish Plastics · Vishakha Mouldings Private Limited · Vishakha Polychem Private Limited · Vishakha Converters Private Limited · Vishakha Polyfilms Private Limited ·
Doshi Polymers Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7512300 |
Equity Shares |
INR 10/- each |
INR 75.123 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
75.123 |
65.863 |
65.863 |
|
(b) Reserves & Surplus |
470.622 |
310.192 |
301.602 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
50.004 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
545.745 |
426.059 |
367.465 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
177.393 |
333.579 |
218.743 |
|
(b) Deferred tax liabilities (Net) |
46.659 |
19.493 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
1.603 |
0.620 |
0.555 |
|
Total Non-current
Liabilities (3) |
225.655 |
353.692 |
219.298 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
566.518 |
502.294 |
532.464 |
|
(b) Trade
payables |
248.415 |
202.356 |
295.942 |
|
(c) Other
current liabilities |
45.600 |
34.810 |
44.187 |
|
(d) Short-term
provisions |
13.899 |
1.427 |
0.380 |
|
Total Current
Liabilities (4) |
874.432 |
740.887 |
872.973 |
|
|
|
|
|
|
TOTAL |
1645.832 |
1520.638 |
1459.736 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
644.919 |
411.679 |
342.453 |
|
(ii)
Intangible Assets |
0.154 |
0.283 |
0.521 |
|
(iii)
Capital work-in-progress |
0.000 |
238.839 |
53.036 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
69.822 |
65.312 |
28.694 |
|
(e) Other
Non-current assets |
10.640 |
45.877 |
38.902 |
|
Total Non-Current
Assets |
725.535 |
761.990 |
463.606 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
231.964 |
221.399 |
280.519 |
|
(c) Trade
receivables |
581.989 |
347.376 |
363.926 |
|
(d) Cash
and cash equivalents |
22.432 |
56.714 |
29.312 |
|
(e) Short-term
loans and advances |
70.959 |
122.617 |
106.031 |
|
(f) Other
current assets |
12.953 |
10.542 |
216.342 |
|
Total
Current Assets |
920.297 |
758.648 |
996.130 |
|
|
|
|
|
|
TOTAL |
1645.832 |
1520.638 |
1459.736 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
Total
Revenue from operations |
2315.584 |
2071.304 |
1883.451 |
|
|
|
Other Income |
15.633 |
20.136 |
371.068 |
|
|
|
TOTAL |
2331.217 |
2091.440 |
2254.519 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials
Consumed |
1270.301 |
1268.970 |
1260.880 |
|
|
|
Purchases of
Stock-in-Trade |
145.523 |
46.399 |
127.681 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
35.550 |
19.189 |
46.090 |
|
|
|
Employee benefit expense |
151.830 |
74.230 |
65.822 |
|
|
|
Other expenses |
387.834 |
475.679 |
586.493 |
|
|
|
TOTAL |
1991.038 |
1884.467 |
2086.966 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
340.179 |
206.973 |
167.553 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
92.043 |
122.157 |
115.642 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
248.136 |
84.816 |
51.911 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
92.895 |
54.411 |
48.883 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
155.241 |
30.405 |
3.028 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
35.555 |
21.815 |
(20.207) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
119.686 |
8.590 |
23.235 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export of Goods on F.O.B. Basis |
522.223 |
497.890 |
358.339 |
|
|
TOTAL EARNINGS |
522.223 |
497.890 |
358.339 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
770.250 |
783.900 |
NA |
|
|
|
Capital Goods |
0.000 |
200.660 |
NA |
|
|
TOTAL IMPORTS |
770.250 |
984.560 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
15.93 |
1.30 |
3.53 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
3.046 |
15.373 |
23.337 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
239.570 |
353.500 |
123.584 |
|
Net cash flows from (used in) operating activities |
222.800 |
347.437 |
120.622 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
91.74 |
61.21 |
70.53 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.98 |
5.96 |
5.18 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
64.04 |
56.15 |
77.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.47 |
0.93 |
0.60 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.53 |
0.32 |
0.42 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.64 |
0.72 |
0.76 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.37 |
2.00 |
2.11 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.60 |
1.74 |
2.38 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.18 |
1.53 |
1.08 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.70 |
1.69 |
1.45 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
5.17 |
0.41 |
1.23 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.27 |
0.56 |
1.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
21.93 |
2.02 |
6.32 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.05 |
1.02 |
1.14 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.79 |
0.73 |
0.82 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.33 |
0.28 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
9.94 |
12.92 |
11.76 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.05 |
1.02 |
1.14 |
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 |
65.863 |
65.863 |
75.123 |
|
Reserves & Surplus |
301.602 |
310.192 |
470.622 |
|
Share Application money
pending allotment |
0.000 |
50.004 |
0.000 |
|
Net
worth |
367.465 |
426.059 |
545.745 |
|
|
|
|
|
|
Long-term borrowings |
218.743 |
333.579 |
177.393 |
|
Short term borrowings |
532.464 |
502.294 |
566.518 |
|
Current maturities of
long-term debts |
23.337 |
15.373 |
3.046 |
|
Total
borrowings |
774.544 |
851.246 |
746.957 |
|
Debt/Equity
ratio |
2.108 |
1.998 |
1.369 |
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 |
1883.451 |
2071.304 |
2315.584 |
|
|
|
9.974 |
11.794 |
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 |
1883.451 |
2071.304 |
2315.584 |
|
Profit/ (Loss) |
23.235 |
8.590 |
119.686 |
|
|
1.23
% |
0.41
% |
5.17
% |
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
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 |
COMPANY INFORMATION
The company is a joint venture of Doshi Family and Adani Wilmar Limited. VPPL is a Flagship Company, manufacturing of 3 layer, 5 layer, 7 Layer and 9 layer film Rolls and pouches (Printed and Plain). VPPL has the only 9 layer plant in India and largest manufacturer of multilayer film rolls along with printing facilities upto 9 colors.
The Company has production infrastructure at Vadsar, District: Gandhinagar. VPPL's products reach across the India and also export to Europe and United State of America.
OPERATIONS
The revenue of the Company was increased by 11.46 % to INR 2331.217 million during the year as compared to INR 2091.440 million in last year. The Company posted the Profit before Tax of INR 155.241 million as compared to INR 30.405 million of last year. The Profit after Tax increased from INR 8.590 million of last year to INR 119.686 million for the year.
The exports of the company were INR 522.224 million, which increased by 4.88 % over last year's INR 497.889 million.
FINANCE
During the year, the company's Borrowing Limit has been enhanced to meet working capital and Capital Expenditure requirements. However, due to repayment of Corporate Loan, overall limits have been increased from INR 985.000 million to INR 1240.700 million. The company has availed financial assistance from the State Bank of India and charges have been created for the limits in favour of the Bank.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
52.580 |
158.324 |
|
Other loans and advances |
107.974 |
167.468 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
209.998 |
134.998 |
|
|
|
|
|
Total |
370.552 |
460.790 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G30992101 |
10076837 |
STATE BANK OF INDIA |
06/11/2007 |
15/12/2016 |
- |
1240700000.0 |
MID CORPORATE GROUP, COMMERCIAL BRANCH, PARAMSIDDHI COMPLEX, ELLISBRIDGE AHMEDABAD GJ380006IN |
|
2 |
A29484722 |
10071228 |
BANK OF BARODA |
28/09/2007 |
- |
20/12/2007 |
10000000.0 |
NEW CLOTH MARKET RAIPUR AHMEDABAD GJ380001IN |
|
3 |
A29484615 |
90099383 |
BANK OF BARODA |
08/06/2001 |
17/05/2007 |
20/12/2007 |
86000000.0 |
NEW CLOTH MARKET BRANCH RAIPUR AHMEDABAD GJ 380001IN |
|
4 |
A11726221 |
10032009 |
BANK OF BARODA |
21/09/2006 |
- |
20/02/2007 |
10000000.0 |
NEW CLOTH MARKET RAIPUR AHMEDABAD GJ380001IN |
FIXED ASSETS:
· Land
· Buildings
· Factory building
· Plant and equipment
· Factory equipments
· 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 91.46 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
YES |
|
--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.