|
|
|
MIRA
INFORM REPORT
|
Report No. : |
491297 |
|
Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BN PACK CORRUGATED PRIVATE LIMITED (w.e.f. 06.07.2013) |
|
|
|
|
Formerly Known
As : |
BN SPONGE IRON PRIVATE LIMITED |
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Registered
Office : |
A-37, Swasthya Vihar, Delhi-110092 |
|
Mobile No.: |
91-9818088133 [Mr. Rajiv Aggrawal] |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
28.06.2004 |
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|
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|
Com. Reg. No.: |
55-127213 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 53.509 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310DL2004PTC127213 |
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|
IEC No.: |
Not Divulged |
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GSTIN/UIN: |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AACCB4229P |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the manufacture and sale of Corrugated Boxes. (Registered Activity) |
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No. of Employees
: |
Information denied 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 |
|
Maximum Credit Limit : |
USD 380000 |
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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 was incorporated in the year 2004. It is engaged in the
business of manufacture and sale of corrugated boxes. For the financial year ended 2017, the company has achieved a fair
growth in its top line along with average profitability margin. The satisfactory financial profile of the company is reflected by
adequate net worth base along with acceptable debt level and favorable
liquidity position. Business is active. Payments seems to be usually correct. In view of aforesaid, the company can be considered 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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 |
Not Available |
|
Rating |
Not Available |
|
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
31-03-2016.
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 10.02.2018
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 BY
|
Name : |
Mr. Rajiv Agarwal |
|
Designation : |
Director |
|
Contact No.: |
91-9818088133 |
|
Date : |
09.02.2018 |
LOCATIONS
|
Registered Office : |
A-37, Swasthya Vihar, Delhi-110092, India |
|
Tel. No.: |
91-11-42440174 |
|
Mobile No.: |
91-9818088133 [Mr. Rajiv Aggrawal] |
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Fax No.: |
91-11-22469205 |
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E-Mail : |
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|
|
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Factory: |
BN 43-52 and CN 76-90, Masoori-Gulawati Road, Industrial Area, Ghaziabad,
Uttar Pradesh, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vinod Agarwal |
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|
Designation : |
Director |
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|
Address : |
A – 37, Swasthya Vihar, Delhi-110092, India |
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Date of Birth/Age : |
16.06.1953 |
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|
Qualification : |
B.com Honrs IInd Year |
||||||||||||||||||||||||
|
Date of Appointment : |
01.07.2004 |
||||||||||||||||||||||||
|
Pan No.: |
ACDPA6159R |
||||||||||||||||||||||||
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DIN No.: |
00079572 |
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Other Directorship:
|
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|
||||||||||||||||||||||||
|
Name : |
Mr. Rajiv Agarwal |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
A - 37 Swasthya Vihar, Delhi-110092, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
22.09.1977 |
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|
Qualification : |
B.com Honrs & Msc Finance From U.K. |
||||||||||||||||||||||||
|
Date of Appointment : |
28.06.2004 |
||||||||||||||||||||||||
|
Pan No.: |
ABZPA4584H |
||||||||||||||||||||||||
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DIN No.: |
00079668 |
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|
Other Directorship:
|
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MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Equity Shareholders |
No. of Shares |
% age holding |
|
Vinod Agarwal |
2000 |
0.24 |
|
Rajiv Agarwal |
620000 |
74.25 |
|
Vinod Agarwal and Company Private Limited |
136000 |
16.29 |
|
Vinod Fincap Private Limited |
74000 |
8.86 |
|
Nilamber Securities Private Limited |
3000 |
0.36 |
|
Total |
835000 |
100.00 |
|
Names of 5% Non-Cummulative Reedemable Peference
Shares |
No. of Shares |
% age holding |
|
Vinod Fincap Private Limited |
7500 |
1.57 |
|
Everest Leasing Limited |
34250 |
7.17 |
|
Nilamber Securities Private Limited |
435750 |
91.26 |
|
Total |
477500 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2016
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
74.49 |
|
Promoters- Body corporate |
25.51 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the manufacture and sale of Corrugated Boxes. (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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
(INR
In Million)
|
|
Auditors : |
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|
Name : |
Surender Kumar Jain and Associates Chartered Accountants |
|
Address : |
101,110,111, Delhi Chamber Building, Delhi Gate, New Delhi-110002, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAMFS6555N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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|
Other Related
party: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
|
900000 |
Preference shares |
INR 100/ each |
INR 90.000 Million |
|
|
Total |
|
INR 105.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
850900 |
Equity Shares |
INR 10/- each |
INR 8.509 Million |
|
4500000 |
Preference shares |
INR 100/ each |
INR 45.000 Million |
|
|
Total |
|
INR 53.509 Million
|
FINANCIAL DATA
[all figures are
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 |
53.509 |
56.100 |
56.100 |
|
(b) Reserves & Surplus |
81.147 |
60.754 |
48.434 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Deferred government
grants |
40.985 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
175.641 |
116.854 |
104.534 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
153.175 |
62.160 |
43.150 |
|
(b) Deferred tax
liabilities (Net) |
2.879 |
1.221 |
1.091 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
156.054 |
63.381 |
44.241 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
104.473 |
95.236 |
93.764 |
|
(b) Trade payables |
113.427 |
116.113 |
95.132 |
|
(c) Other current
liabilities |
4.532 |
2.606 |
21.883 |
|
(d) Short-term provisions |
7.131 |
6.350 |
4.284 |
|
Total Current Liabilities
(4) |
229.563 |
220.305 |
215.063 |
|
|
|
|
|
|
TOTAL |
561.258 |
400.540 |
363.838 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
135.266 |
166.307 |
127.687 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
183.275 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.859 |
0.308 |
0.308 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
319.400 |
166.615 |
127.995 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
48.599 |
64.400 |
68.285 |
|
(c) Trade receivables |
117.577 |
123.416 |
131.211 |
|
(d) Cash and cash
equivalents |
9.691 |
12.190 |
10.453 |
|
(e) Short-term loans and
advances |
65.991 |
33.919 |
25.894 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
241.858 |
233.925 |
235.843 |
|
|
|
|
|
|
TOTAL |
561.258 |
400.540 |
363.838 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
834.166 |
737.657 |
689.184 |
|
|
Other Income |
1.192 |
0.522 |
1.192 |
|
|
TOTAL |
835.358 |
738.179 |
690.376 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
576.665 |
525.788 |
525.671 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.572 |
(4.034) |
(4.114) |
|
|
Employee benefit expense |
76.654 |
47.511 |
37.626 |
|
|
Other expenses |
120.645 |
104.805 |
81.059 |
|
|
TOTAL |
777.536 |
674.070 |
640.242 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
57.822 |
64.109 |
50.134 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
17.133 |
19.050 |
17.503 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
40.689 |
45.059 |
32.631 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.009 |
26.289 |
22.540 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
26.680 |
18.770 |
10.091 |
|
|
|
|
|
|
|
Less |
TAX |
8.788 |
6.480 |
2.386 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
17.892 |
12.290 |
7.705 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
13.754 |
9.364 |
5.870 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
20.209 |
|
Cash generated from operations |
45.836 |
68.871 |
13.633 |
|
Net cash flows from (used in) operations |
39.363 |
64.617 |
11.669 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days (Sundry Debtors /
Income * 365 Days) |
51.45 |
61.07 |
69.49 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.09 |
5.98 |
5.25 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
71.79 |
80.61 |
66.05 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.19 |
1.00 |
0.73 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.18 |
0.39 |
0.39 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
0.68 |
0.71 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.47 |
1.35 |
1.50 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.31 |
1.89 |
2.06 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.81 |
1.42 |
1.22 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.37 |
3.37 |
2.86 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.14 |
1.67 |
1.12 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.19 |
3.07 |
2.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.19 |
10.52 |
7.37 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets /
Current Liabilities) |
1.05 |
1.06 |
1.10 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.84 |
0.77 |
0.78 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.31 |
0.29 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.82 |
2.81 |
2.80 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.05 |
1.06 |
1.10 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
56.100 |
56.100 |
53.509 |
|
Reserves & Surplus |
48.434 |
60.754 |
81.147 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
40.985 |
|
Net worth |
104.534 |
116.854 |
175.641 |
|
|
|
|
|
|
long-term borrowings |
43.150 |
62.160 |
153.175 |
|
Short term borrowings |
93.764 |
95.236 |
104.473 |
|
Total borrowings |
136.914 |
157.396 |
257.648 |
|
Debt/Equity ratio |
1.310 |
1.347 |
1.467 |
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 |
689.184 |
737.657 |
834.166 |
|
|
|
7.033 |
13.083 |
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 |
689.184 |
737.657 |
834.166 |
|
Profit/(Loss) |
7.705 |
12.290 |
17.892 |
|
|
1.12% |
1.67% |
2.14% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
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 |
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 |
SEGMENTAL INFORMATION
The Company is engaged in the manufacture and sale of Corrugated boxes which, in the context of Accounting Standard-17 (Segment Reporting) issued by the Institute of Chartered Accountants of India, is considered as the only business segment. Accordingly, no separate segmental information has been provided herein.
OPERATIONAL
PERFORMANCE:
During the financial year 2016-17, the Company has recorded operational revenue of INR 834.166 Million. The Company has earned net profit of INR 17.892 Million during the year as compared to profit INR 12.290 Million in the last year. The Directors are optimistic about future performance of the Company will be better.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G74046558 |
100148011 |
EDELWEISS RETAIL FINANCE LIMITED |
30/11/2017 |
- |
- |
23103816.0 |
EDELWEISS HOUSE, OFF. C.S.T ROAD,KALINAMUMBAIMA400098IN |
|
2 |
G18158063 |
100056774 |
ICICI BANK LIMITED |
19/09/2016 |
- |
- |
110000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGU390015IN |
|
3 |
G72495435 |
10436751 |
HDFC BANK LIMITED |
17/06/2013 |
24/07/2017 |
- |
377566000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
4 |
B81962045 |
10212386 |
ALLAHABAD BANK |
30/03/2010 |
16/11/2012 |
16/08/2013 |
164301000.0 |
B-3, ASHOKA NIKETANANAND VIHARNEW DELHIDL110092IN |
|
5 |
B81952509 |
10212353 |
ALLAHABAD BANK |
31/03/2010 |
26/11/2011 |
16/08/2013 |
114116000.0 |
B-3, ASHOKA NIKETANANAND VIHARDL110092IN |
FIXED ASSETS:
- Land
- Buildings
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- 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 records 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 64.36 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
NKTS |
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.