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%20PRIVATE%20LIMITED%20-%20496793%2016-Mar-2018_files/image002.jpg){kind=small}
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%20PRIVATE%20LIMITED%20-%20496793%2016-Mar-2018_files/image006.gif)
MIRA
INFORM REPORT
|
Report No. : |
496793 |
|
Report Date : |
16.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
AVERY DENNISON (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
P-24, Green Park Extension, New Delhi - 110016 |
|
Tel. No.: |
91-124-4823830 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
08.12.1995 |
|
|
|
|
Com. Reg. No.: |
55-074475 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 476.507 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC074475 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0596017871 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA6163D |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AAACA6163D1Z2 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is primarily engaged in manufacture and trading of self-adhesive paper, films and labels. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 4500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a subsidiary of “Avery Dennison Corporation” based in United States and it was incorporated in the year 1995. It is engaged in manufacturing and trading of self-adhesive paper, films and labels. Management has failed to file its latest financials with Government Registry. As per available financials of March 2016, the company has registered growth of 12.46% in its revenue as compared to its previous year’s revenue and has reported average profit margin of 2.26%. Rating takes into consideration the company’s established track record of business operations marked by healthy net worth base along with low solvency indicators and good liquidity position. Rating also takes into account the strong financial and managerial support received from its holding entity and well experience management team. Further, the company has reported earnings per share of INR 6.59 against its face value of INR 10. Payments seems to be regular. In view of aforesaid, the company can be considered good for business dealings at normal 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 |
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 16.03.2018
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 DECLINED
Management non-cooperative (Tel No.: 91-80-41370400/ Mobile No.:
91-9889092020)
(Tel No.: 91-11-23716699/
23714408/10 – Not Exist)
LOCATIONS
|
Registered Office : |
P-24, Green Park Extension, New Delhi – 110016, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
11th Floor, Spaze Platinum Tower, Sector – 47, Sohna Road,
Gurugram - 122002, Haryana, India |
|
Tel. No.: |
91-124-4823830 |
|
Fax No.: |
91-124-4823928 |
|
|
|
|
Factory : |
Narsinghpur Industrial Area, 6 Kilometer Stone, Delhi-Jaipur Highway, Gurugram
– 122 001, Haryana, India |
|
Tel. No.: |
91-124-4351200/ 2215581/ 582/ 583 |
|
Fax No.: |
91-124-2215591/ 592 |
|
|
|
|
Factory : |
G-5, MIDC Ranjangaon Industrial Area, Taluka Shirur, Pune - 412220,
Maharashtra, India |
|
|
|
|
Branch Office : |
90/91, 7th Main Road, III Phase, Peenya Industrial Area, Bangalore –
560 058, Karnataka, India |
|
Tel No.: |
91-80-41370400 |
|
Fax No.: |
91-80-41370600 |
DIRECTORS
As on 2018
|
Name : |
Mr. Pankaj Kumar Bhardwaj |
|
Designation : |
Whole-Time Director |
|
Address : |
I- 1202, J M D Garden, Sohna Road, Near Subhash Chowk, Sector-33, Gurugram-122001, Haryana, India |
|
Date of Appointment : |
25.01.2017 |
|
DIN No.: |
07709869 |
|
|
|
|
Name : |
Mr. Saurabh Agarwal |
|
Designation : |
Whole-Time Director |
|
Address : |
Flat No. 11B, Tower No.1, Central Park 2, Sector 48, Sohna Road, Gurugram -121104, Haryana, India |
|
Date of Appointment : |
19.04.2017 |
|
DIN No.: |
07796396 |
|
|
|
|
Name : |
Mr. Muthusubramanian Ganesan |
|
Designation : |
Whole-Time Director |
|
Address : |
Old No 4, New No 40 4th Main Road, Nanganallur, Chennai-600061, Tamilnadu, India |
|
Date of Appointment : |
14.06.2017 |
|
DIN No.: |
07835080 |
KEY EXECUTIVES
|
Name : |
Mr. Komandur Santhana Krishnan Muralie |
|
Designation : |
Company Secretary |
|
Address : |
D/3 3072 Vasant Kunj, New Delhi-110070, India |
|
Date of Birth/Age : |
20.05.1966 |
|
Date of Appointment : |
03.03.2000 |
|
PAN No.: |
ABDPM0006G |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Avery Dennison Corporation, United State of America |
21474466 |
45.07 |
|
Avery Pacific LLC, United State of America |
216949 |
0.46 |
|
Avery Dennison Central Europe GmbH, Germany |
10400000 |
21.82 |
|
Paxar B V, The Netherlands |
10400000 |
21.82 |
|
RVL Packaging Far East Limited, Hong Kong |
5159245 |
10.83 |
|
Total |
47650660 |
100.00 |
%20PRIVATE%20LIMITED%20-%20496793%2016-Mar-2018_files/image008.gif)
Equity Share Break up (Percentage of Total Equity)
As on 30.11.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
45.07 |
|
Public/Other than promoters (Body corporate) |
54.93 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in manufacture and trading of self-adhesive paper, films and labels. (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 : |
Not Divulged |
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Bankers : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
Building No. 10, 8Th Floor, Tower-B, DLF Cyber City, Phase-II, Gurugram - 122 002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company (As
on 2017): |
Avery Dennison Corporation, United States of America |
|
|
|
|
Subsidiaries of
ultimate holding company (As on 2016): |
· Avery Dennison (China) Company Limited · Avery Dennison (Guangzhou) Company Limited · Avery Dennison (Hong Kong) Limited · Avery Dennison (Kunshan) Company Limited · Avery Dennison (Malaysia) Sdn Bhd · Avery Dennison (Suzhou) Co Limited · Avery Dennison (Thailand) Limited · Avery Dennison Belgie Bvba · Avery Dennison Benelux Bvba · Avery Dennison Bulgaria Eood · Avery Dennison BV · Avery Dennison Central Europe GmbH · Avery Dennison Deutschland GmbH · Avery Dennison EgyPT LLC · Avery Dennison Etiket Ticaret Limited Sirketi · Avery Dennison Finance Germany GmbH · Avery Dennison France SAS · Avery Dennison Gulf Fzco · Avery Dennison Hong Kong BV · Avery Dennison Korea Limited · Avery Dennison Lanka (Private) Limited · Avery Dennison Mauritius Limited · Avery Dennison NTP A S · Avery Dennison Peru S R L · Avery Dennison RIS Iberia SL · Avery Dennison RIS Italia SRL · Avery Dennison Retail Information Services (Pty) Limited · Avery Dennison Retail Information Services Honduras, S De RL · Avery Dennison Retail Information Services LLC · Avery Dennison Retail Information Services UK Limited · Avery Dennison RFID Company · Avery Dennison RIS France S A S · Avery Dennison RIS Taiwan Limited · Avery Dennison RIS Vietnam Co Limited · Avery Dennison Scandinavia AB · Avery Dennison Singapore (Pte.) Limited · Avery Dennison South Africa (Proprietary) Limited · Avery Dennison Tekstil Urunleri Sanayi Ve Ticaret Limited Sirketi · Collitex SRL (Former Astria SRL) · P T Paxar Indonesia · Paxar (China) Limited · Paxar Bangladesh Limited · Paxar Far East Limited · Paxar Pakistan (Private) Limited · PT Avery Dennison Indonesia · Avery Dennison (Vietnam) Limited · AD Japan Material Co Limited · Avery Dennison SRL · Avery Dennison Materials Pty Limited · Avery Dennison USA · Avery Dennison (Kenya) Private Limited · Avery Dennison De Argentina SRL · Paxar Lanka Private Limited · Avery Dennison Materials Europe BV · Avery Dennison Materials Newzealand Limited · Avery Dennison Chile SA · Avery Dennison Materials Netherlands BV · Avery Dennison (Ireland) Limited · Avery Dennison Materials Sdn Bhd · Avery Dennision Pakistan · Avery Dennison (Nottingham ) · Avery Dennison Retail Information Services S De R · Avery Dennison Bangladesh Limited · Paxar Packaging (Guangzhou) Limited · Avery Dennison RIS (Pty) Limited · Avery Dennison (Hong Kong) Limited · Su Zhou Feng Yi Heng Ye Dye Co Limited |
CAPITAL STRUCTURE
As on 30.11.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47650660 |
Equity Shares |
INR 10/- each |
INR 476.507 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47650660 |
Equity Shares |
INR 10/- each |
INR 476.507 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
476.507 |
476.507 |
476.507 |
|
(b) Reserves and Surplus |
1100.493 |
788.437 |
704.501 |
|
(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) |
1577.000 |
1264.944 |
1181.008 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
67.080 |
74.371 |
7.836 |
|
(c) Other long-term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
64.443 |
64.597 |
47.251 |
|
Total Non-current
Liabilities (3) |
131.523 |
138.968 |
55.087 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
4412.467 |
4568.318 |
3457.591 |
|
(b) Trade payables |
2482.201 |
1751.344 |
2063.695 |
|
(c) Other current liabilities |
189.660 |
182.868 |
223.385 |
|
(d) Short-term provisions |
221.061 |
39.937 |
29.448 |
|
Total Current
Liabilities (4) |
7305.389 |
6542.467 |
5774.119 |
|
|
|
|
|
|
TOTAL |
9013.912 |
7946.379 |
7010.214 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2362.335 |
2526.127 |
1685.560 |
|
(ii) Intangible Assets |
13.025 |
12.802 |
14.150 |
|
(iii) Tangible assets capital work-in-progress |
66.310 |
68.472 |
737.725 |
|
(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 loans and advances |
366.975 |
313.888 |
317.731 |
|
(e) Other Non-current assets |
1.348 |
0.541 |
1.261 |
|
Total Non-Current
Assets |
2809.993 |
2921.830 |
2756.427 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1994.269 |
1542.026 |
1353.141 |
|
(c) Trade receivables |
3655.486 |
3007.655 |
2562.306 |
|
(d) Cash and bank balances |
181.722 |
80.451 |
68.725 |
|
(e) Short-term loans and advances |
372.442 |
394.417 |
269.615 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
6203.919 |
5024.549 |
4253.787 |
|
|
|
|
|
|
TOTAL |
9013.912 |
7946.379 |
7010.214 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
13877.073 |
12339.914 |
10788.874 |
|
|
Other Income |
379.244 |
198.645 |
105.844 |
|
|
TOTAL |
14256.317 |
12538.559 |
10894.718 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
7523.267 |
6996.827 |
5481.255 |
|
|
Purchases of
Stock-in-Trade |
2046.748 |
1395.579 |
1715.301 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(281.187) |
(154.410) |
(0.949) |
|
|
Employee benefit expense |
1212.084 |
1126.037 |
924.259 |
|
|
CSR expenditure |
3.433 |
1.002 |
0.000 |
|
|
Other expenses |
2509.424 |
2282.351 |
2065.718 |
|
|
TOTAL |
13013.769 |
11647.386 |
10185.584 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1242.548 |
891.173 |
709.134 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
423.801 |
371.927 |
351.291 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
818.747 |
519.246 |
357.843 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
337.322 |
282.745 |
215.867 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
481.425 |
236.501 |
141.976 |
|
|
|
|
|
|
|
Less |
TAX |
167.297 |
150.493 |
143.635 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
314.128 |
86.008 |
(1.659) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.59 |
1.80 |
(0.03) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
855.584 |
82.917 |
176.056 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
96.15 |
88.96 |
86.69 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.80 |
4.10 |
4.21 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
94.67 |
76.17 |
104.67 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.62 |
0.58 |
0.52 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.51 |
0.34 |
0.29 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.81 |
0.82 |
0.82 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.80 |
3.61 |
2.93 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
4.63 |
5.17 |
4.89 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.55 |
2.06 |
2.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.93 |
2.40 |
2.02 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.26 |
0.70 |
(0.02) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.48 |
1.08 |
(0.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
19.92 |
6.80 |
(0.14) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.85 |
0.77 |
0.74 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.58 |
0.53 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.17 |
0.16 |
0.17 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
9.26 |
9.59 |
7.26 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.85 |
0.77 |
0.74 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
476.507 |
476.507 |
476.507 |
|
Reserves & Surplus |
704.501 |
788.437 |
1100.493 |
|
Net
worth |
1181.008 |
1264.944 |
1577.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
3457.591 |
4568.318 |
4412.467 |
|
Total
borrowings |
3457.591 |
4568.318 |
4412.467 |
|
Debt/Equity
ratio |
2.928 |
3.611 |
2.798 |
%20PRIVATE%20LIMITED%20-%20496793%2016-Mar-2018_files/image010.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
10788.874 |
12339.914 |
13877.073 |
|
|
|
14.376 |
12.457 |
%20PRIVATE%20LIMITED%20-%20496793%2016-Mar-2018_files/image012.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
10788.874 |
12339.914 |
13877.073 |
|
Profit/ (Loss) |
(1.659) |
86.008 |
314.128 |
|
(0.02%) |
0.70% |
2.26% |
%20PRIVATE%20LIMITED%20-%20496793%2016-Mar-2018_files/image014.gif)
LEGAL
CASES
HIGH COURT
|
PR. COMMISSIONER OF INCOME TAX1 Vs. AVERY DENNISON INDIA PRIVATE LIMITED |
|
high court-Delhi |
|
Case no: ITA 402/2016 |
|
Case status: Pending |
|
Judge:HON BLE DR. JUSTICE S.MURALIDHAR HON BLE MR. JUSTICE NAJMI WAZIRI |
|
Date:2016-07-20 |
HIGH COURT
|
PR COMMISSIONER OF INCOME TAX1 Vs. AVERY DENNISON INDIA PRIVATE LIMITED |
|
high court-Delhi |
|
Case no:ITA 392/2016 |
|
Case status:Pending |
|
Judge:HON BLE DR. JUSTICE S.MURALIDHAR HON BLE MR. JUSTICE NAJMI WAZIRI |
|
Date:2016-07-18 |
HIGH COURT
|
PR. CIT 1 Vs. AVERY DENNISON INDIA PRIVATE LIMITED |
|
high court-Delhi |
|
Case no:ITA 516/2017 CM APPL. 24326/2017 CM APPL. 24327/2017 |
|
Case status: Pending |
|
Judge:HON BLE DR. JUSTICE S.MURALIDHAR HON BLE MS. JUSTICE PRATHIBA M.SINGH |
|
Date:2017-07-14 |
HIGH COURT
|
PR. CIT 1 Vs. AVERY DENNISON INDIA PRIVATE LIMITED |
|
high court-Delhi |
|
Case no:ITA 517/2017 CM APPL. 24328/2017 CM APPL. 24329/2017 |
|
Case status: Pending |
|
Judge: HON BLE DR. JUSTICE S.MURALIDHAR HON BLE MS. JUSTICE PRATHIBA M.SINGH |
|
Date:2017-07-14 |
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 |
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 |
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 |
No |
|
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 |
No |
|
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 |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW (AS
ON 31.03.2016)
The Company is a private limited company incorporated under the Companies Act, 1956. The Company is a downstream subsidiary of Avery Dennison Corporation USA. The Company is primarily engaged in manufacture and trading of self-adhesive paper, films and labels. The Company caters to both domestic and international markets.
INDEX OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
Y10296217 |
90194318 |
THE BANK OF NOVASCOTIA |
19/10/2000 |
29/08/2001 |
11500000.0 |
BANGLORE BRANCH; M G ROAD BANGLORE KARNATAKA 560001 INDIA |
|
2 |
Y10296172 |
90194273 |
STATE BANK OF INDIA |
14/02/2000 |
07/06/2002 |
11500000.0 |
INDUSRIAL FINANCE BRANCHRESIDENCY ROAD BANGLORE KARNATAKA 560025 INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Claims against the
Company not acknowledged as debts |
|
|
|
Sales tax demands pending disposal by authorities. Amount paid under protest INR 21.847 (Previous year INR 10.499) |
179.401 |
99.408 |
|
Demands in respect of Excise matters |
2.483 |
2.483 |
|
Demands in respect of Service tax matters. Amount paid under protest INR 5.624 (Previous year INR 5.144 Million) |
51.987 |
49.682 |
|
Income tax matters pending disposal by the tax authorities (Amount paid under protest INR 25.995 Million (previous year INR 25.995 million) |
215.565 |
137.032 |
|
Customer Financing Arrangement |
53.854 |
0.000 |
|
Total |
503.290 |
288.605 |
FIXED ASSETS
- Land
- Buildings
- Furniture and
Fixture
- Computer
- Plant and Equipments
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 65.08 |
|
UK Pound |
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.
·