MIRA INFORM REPORT

 

 

Report No. :

510031

Report Date :

23.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

FIBRE FOILS LIMITED

 

 

Registered Office :

Plot No A 6, Street No. 5, MIDC, Andheri (East), Mumbai – 400093, Maharashtra

Tel. No.:

91-22-28326228

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

09.10.1968

 

 

Com. Reg. No.:

11-014111

 

 

Capital Investment / Paid-up Capital :

INR 61.379 Million

 

 

CIN No.:

[Company Identification No.]

U21010MH1968PLC014111

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

AAACF0909N

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Divulged

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

The Company is engaged in Manufacturing of Paper Containers and Drums (packaging products), Paper Tubes and Cores (Industrial Products) and Edge Board (Industrial Products) (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

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Maximum Credit Limit :

USD 910000

 

 

Status :

Good

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1968. The company is a manufacturer of paper containers, paper tubes, laminations, fibre drums, paper bags, etc.


As per the financial records of 2017, the company has achieved a fair growth of 11.88% in its revenue as compared to the previous year’s revenue and has reported an average net profit margin of 6.99%.


The company possesses healthy financial position marked by above average net worth base along with low debt balance sheet profile and favourable liquidity position.

Subject was been found under RBI defaulter’s list the name of the credit grantor is IFCI Factors Limited and the amount charged is INR 63.900 million dated 30. 09. 04 and latest updates about the same are not available.


Business is active. Payment seems to be slow but correct.


In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

 

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 has been found enlisted as a defaulter in the publicly available RBI Defaulters’ list and the details of the same are as under:

 

Suit-filed accounts of INR 10.000 Million and above

 

Name of Directors Reported by Credit Grantors Filing the Suit:

 

 

 

Sr. No.

 

Directors Reported by Credit Grantors

DIN Number

IFCI FACTORS LIMITED

 

DIWAKAR S.SHETTY

 

 

 

List of Credit Grantors to which FIBRE FOILS LIMITED is a defaulter:

 

 

Names of Credit Grantors

 

Branch

Amount 
(INR in Million)

IFCI FACTORS LIMITED

MUMBAI R.O

63.900

 

Total

 

 

 

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 31-03-2018.

 

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 23.05.2018

 

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.: 91-22-28326228)

 

LOCATIONS

 

Registered Office / Corporate Office :

Plot No A 6, Street No. 5, MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India

Tel. No.:

91-22-28326228

Fax No.:

91-22-61399100 - 199 

E-Mail :

bkshetty@shetrongroup.com

Website :

http://shetrongroup.in

 

 

Plant 1 :

Village Dheku, Off Khopoli Pen Road Taluka Khalapur Raigad-410203, Maharashtra, India

Tel. No.:

91-2192-263408 / 410 / 268930

Fax No.:

91-2192-268619

 

 

Plant :

Also Located at :

 

·         Peenya (Bangalore)  

·         Bhiwadi (Rajasthan)

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Divakar Sanku Shetty

Designation :

Managing Director

Address :

Divya, R.S. Janin Marg, Gandhigram Road, Juhu, Mumbai-400049, Maharashtra, India 

Date of Birth/Age :

03.06.1943

Date of Appointment :

09.10.1968

PAN No.:

AAJPS9636B

DIN No.:

00432755

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L21014KA1980PLC003842

SHETRON LIMITED

01/09/2008

-

U22121KA1982PLC004650

FIBRE BOARDS LIMITED

18/02/1982

-

U85110KA1985PLC006749

SANSHA SYSTEM LIMITED

01/01/1996

-

L29199KA1985PLC006934

SUPRAJIT ENGINEERING LIMITED

21/10/2006

-

U45200MH1974PTC018017

BUNTS PROPERTIES PRIVATE LIMITED

27/11/1985

-

U31200MH1980PTC023344

KONJAL MACHINES PRIVATE LIMITED

25/10/1980

-

U21010MH1981PLC024358

FIBRE SHELLS LIMITED

04/05/1981

-

U67120MH1982PTC028993

SHETRON ENTERPRISES PRIVATE LIMITED

30/12/1982

-

U25205KA2005PTC037829

SHETRON METROPAK PRIVATE LIMITED

01/12/2005

-

 

 

Name :

Ms. Yashoda Divakar Shetty

Designation :

Whole-Time Director

Address :

Divya, Dr. R.S. Jain Marg, Gandhigram Road, Juhu, Mumbai-400049, Maharashtra, India

Date of Birth/Age :

17.03.1948

Date of Appointment :

15.07.1977

PAN No.:

AAQPS4696E

DIN No.:

00798116

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L21014KA1980PLC003842

SHETRON LIMITED

16/09/2015

-

U22121KA1982PLC004650

FIBRE BOARDS LIMITED

30/10/2006

-

U45200MH1974PTC018017

BUNTS PROPERTIES PRIVATE LIMITED

27/11/1985

-

U31200MH1980PTC023344

KONJAL MACHINES PRIVATE LIMITED

25/10/1980

-

U21010MH1981PLC024358

FIBRE SHELLS LIMITED

04/05/1981

-

U67120MH1982PTC028993

SHETRON ENTERPRISES PRIVATE LIMITED

30/12/1982

-

 

 

Name :

Mr. Daksharaj Diwakar Shetty

Designation :

Director

Address :

Divya, Dr. R.S. Jain Marg Gandhirram Road, Juhu, Mumbai-400049, Maharashtra, India

Date of Birth/Age :

06.11.1977

Date of Appointment :

10.05.2004

PAN No.:

ARRPS0523L

DIN No.:

00798056

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U85110KA1985PLC006749

SANSHA SYSTEM LIMITED

29/09/2007

-

 

 

Name :

Mr. Mohan Narayan Menon

Designation :

Additional Director

Address :

6, Beach Croft 17, Juhu Tara Road, Mumbai-400049, Maharashtra, India

Date of Appointment :

28.02.2017

DIN No.:

02838483

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L21014KA1980PLC003842

SHETRON LIMITED

18/07/2016

-

U74999MH1995PTC084330

APC NUTRIENTS PRIVATE LIMITED

11/10/1997

-

U51900MH2006PTC158987

APC NUTRIENTS PRIVATE LIMITED

02/08/2012

-

U25202MH2003PTC143383

GREIF FLEXIBLES INDIA PRIVATE LIMITED

30/09/2015

-

 

 

Name :

Mr. Narendra Mairpady

Designation :

Additional Director

Address :

Door No. 8-125/16, Sumati Sadan, Dattanagar, Padavu, Mangalore-575006, Karnataka, India

Date of Appointment :

28.02.2017

DIN No.:

00536905

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U85110KA1995PLC018175

U A E EXCHANGE AND FINANCIAL SERVICES LIMITED

05/09/2015

-

U65990MH1966PLC013459

SICOM LIMITED

30/09/2015

-

L99999MH1985PLC036685

SEQUENT SCIENTIFIC LIMITED

24/09/2015

-

U64200MH1994PLC083996

MAHINDRA FIRST CHOICE WHEELS LIMITED

18/09/2015

-

L21014KA1980PLC003842

SHETRON LIMITED

28/09/2017

-

U65922MH2007PLC169791

MAHINDRA RURAL HOUSING FINANCE LIMITED

13/08/2015

-

L24123KA1966PLC002036

MANGALORE CHEMICALS AND FERTILISERS LIMITED

29/09/2015

-

L51100GJ1993PLC019067

ADANI ENTERPRISES LIMITED

09/12/2017

-

U85100WB2008PTC130971

SUASTH HEALTH CARE (INDIA) PRIVATE LIMITED

29/09/2016

-

U67100MH2013PTC245464

MAHINDRA TRUSTEE COMPANY PRIVATE LIMITED

21/09/2015

-

 

 

KEY EXECUTIVES

 

Name :

Mr. B K Shetty

Designation :

Company Secretary

Address :

B-9, Pratibimb CHS, Plot No. RH-159, MIDC Residential Zone, Dombivli (East), Thane-421203, Maharashtra, India

Date of Appointment :

01.02.2012

PAN No.:

AABPS3721R

 

 

MAJOR SHAREHOLDERS

 

As on 31.03.2017

 

Names of Shareholders

 

No. of Shares

Diwakar Shetty

 

164814

Yashoda S.Shetty

 

125710

Niksha Nayak

 

47404

Raksha Mally

 

46752

Dhaksharaj D. Shetty

 

41386

Green Ecological M S Private Limited, India

 

185060

Praveen Mally

 

400

Kartik Nayak

 

400

Karunya Shetty

 

400

Danika Shetty

 

400

Diya Mally

 

350

Riya Mally

 

350

Krishang Nayak

 

365

Total

 

613791

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 18.08.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family – Indian)

69.85

Promoters (Body corporate)

30.15

Total 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Company is engaged in Manufacturing of Paper Containers and Drums (packaging products), Paper Tubes and Cores (Industrial Products) and Edge Board (Industrial Products) (Registered Activity)

 

 

Products / Services :

Item Code No.

Products/Services Description

09020484

Laminated Composite Containers Paper Tubes Paper Drums

 

NIC Code No.

Products/Services Description

4819

The Company is engaged in Manufacturing of Paper Containers and Drums (packaging products), Paper Tubes and Cores ( Industrial Products) and Edge Board (Industrial Products)

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Banker Name :

The Cosmos Co-operative Bank Limited

Branch :

Vile Parle Branch, Nehru Road, Vile Parle (East), Mumbai- 400057, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Rupee term loans from banks

19.229

55.855

Other loans and advances

2.353

0.236

Short-term borrowings

 

 

Rupee term loans from banks

66.563

61.316

Total

88.145

117.407

 

Auditors :

 

Name :

B. M. Chaturvedi and Company

Chartered Accountants

Address :

32, Jolly Maker Chambers II, Nariman Point, Mumbai-400021, Maharashtra, India 

Income-tax PAN of auditor or auditor's firm :

ABLPC2269H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associate Companies:

·         Shetron Limited

CIN No.: L21014KA1980PLC003842

·         Sansha Systems Limited

CIN No.: U85110KA1985PLC006749

·         Shetron Enterprises Private Limited

CIN No.: U67120MH1982PTC028993

·         Konjal Machines Private Limited

CIN No.: U31200MH1980PTC023344

·         Bunts Property Private Limited

CIN No.: U45200MH1974PTC018017

·         Fibre Boards Limited

CIN No.: U22121KA1982PLC004650

 

 

CAPITAL STRUCTURE

 

As on 18.08.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

615000

Equity Shares

INR 100/- each

INR 61.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

613791

Equity Shares

INR 100/- each

INR 61.379 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

61.379

61.379

61.379

(b) Reserves and Surplus

255.978

220.668

247.328

(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)

317.357

282.047

308.707

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

21.582

56.091

83.532

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long-term liabilities

0.070

0.070

1.246

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

21.652

56.161

84.778

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

66.563

61.316

77.419

(b) Trade payables

71.160

56.950

58.909

(c) Other current liabilities

67.093

47.370

40.606

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

204.816

165.636

176.934

 

 

 

 

TOTAL

543.825

503.844

570.419

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

294.243

301.537

330.279

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Tangible assets capital work-in-progress

1.396

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1.305

1.305

1.055

(c) Deferred tax assets (net)

8.736

12.655

11.424

(d) Long-term loans and advances

27.667

17.293

13.122

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

333.347

332.790

355.880

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

95.898

75.093

99.141

(c) Trade receivables

91.230

70.181

88.634

(d) Cash and bank balances

16.917

20.524

15.089

(e) Short-term loans and advances

6.433

5.256

4.885

(f) Other current assets

0.000

0.000

6.790

Total Current Assets

210.478

171.054

214.539

 

 

 

 

TOTAL

543.825

503.844

570.419

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Revenue from operations

561.029

501.453

499.975

 

Other Income

6.780

46.784

5.406

 

TOTAL

567.809

548.237

505.381

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

311.403

300.466

312.012

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(0.471)

1.893

(0.591)

 

Employee benefit expense

43.313

40.390

41.237

 

Other expenses

126.286

127.282

121.345

 

Exceptional items

(3.930)

48.102

(3.991)

 

TOTAL

476.601

518.133

470.012

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

91.208

30.104

35.369

 

 

 

 

 

Less

FINANCIAL EXPENSES

20.267

23.282

23.440

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

70.941

6.822

11.929

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

14.460

14.448

15.181

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

56.481

(7.626)

(3.252)

 

 

 

 

 

Less

TAX

17.242

(1.231)

(1.153)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

39.239

(6.395)

(2.099)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

63.93

(10.42)

(3.42)

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

34.669

29.164

27.831

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

50.321

81.480

48.522

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

59.35

51.08

64.71

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

6.15

7.15

5.64

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

83.41

69.18

68.91

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.95

0.40

0.36

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.31

0.10

0.11

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.48

0.50

0.51

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.39

0.52

0.61

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.65

0.59

0.57

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.93

1.07

1.07

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

4.50

1.29

1.51

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

6.99

(1.28)

(0.42)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

7.22

(1.27)

(0.37)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

12.36

(2.27)

(0.68)

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.03

1.03

1.21

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.56

0.58

0.65

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.58

0.56

0.54

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

2.00

2.39

3.08

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.03

1.03

1.21

 

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

61.379

61.379

61.379

Reserves & Surplus

247.328

220.668

255.978

Net worth

308.707

282.047

317.357

 

 

 

 

long-term borrowings

83.532

56.091

21.582

Short term borrowings

77.419

61.316

66.563

Current maturities of long-term debts

27.831

29.164

34.669

Total borrowings

188.782

146.571

122.814

Debt/Equity ratio

0.612

0.520

0.387

 

 

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

499.975

501.453

561.029

 

 

0.296

11.881

 

 

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

499.975

501.453

561.029

Profit/ (Loss)

(2.099)

(6.395)

39.239

(0.42 %)

(1.28 %)

6.99 %

 

 

 

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

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

 

 

CORPORATE INFORMATION:

 

The Company was incorporated in India under the Companies Act, 1956 on 09th October 1968 and registered office is in Mumbai. Company is engaged in business activities of paper packaging products and has manufacturing facilities at three locations viz. Khopoli (Maharashtra), Peenya (Bangalore) and Bhiwadi (Rajasthan).

 

BUSINESS PROSPECTIVE:

 

The packaging industry in India is one of the fastest growing industries which has its influence on all industries, directly or indirectly such as growing urbanization and the rising proportion of middle class consumers In the coming years, Indian packaging industry is anticipated to register 18 percent annual growth rate, with the flexible packaging and rigid packaging expected to grow annually at 25 percent and 15 percent respectively.

 

They see a continued positive sales trend for all of our products. In the year 2016-17, the Export turnover was INR 229.900 Million as compared to the previous year Export turnover of INR 216.200 Million, representing an increase of 6.3% over the previous year. Company has started investing for up-gradation of Plant and Machinery and new machineries to increase sales turnover. Company is also planning to introduce new products in packaging segment.

 

GST rollout from 1st July 2017 may have a short term impact on most of the businesses. This may impact the Company also in the shorter term; however it is a transformational reform. GST along with demonitization is expected to be positive for the Company's prospects in the year ahead.

 

 

INDEX OF CHARGES

 

S

No

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G86900008

100175160

The Cosmos Co-op Bank Limited

27/04/2018

-

-

20000000.0

VILE PARLE BRANCH, NEHRU ROAD, VILE PARLE EAST MUMBAI MAHARASHTRA 400057 INDIA

2

B12407177

10285894

The Cosmos Co-op Bank Limited

23/04/2011

-

-

5000000.0

VILE PARLE BRANCH, NEHRU ROAD, VILE PARLE EAST MUMBAI MAHARASHTRA 400057 INDIA

3

G75772624

10273814

The Cosmos Co-op Bank Limited

28/02/2011

23/01/2018

-

234000000.0

VILE PARLE BRANCH, NEHRU ROAD, VILE PARLE EAST MUMBAI MAHARASHTRA 400057 INDIA

4

Y10321524

90218959

INDUSTRIAL DEVELOPMENT BANK OF INDIA

25/06/1993

24/10/1996

-

13300000.0

IDBI TOWER CUFFE PARADE BOMBAY MAHARASHTRA INDIA

5

Y10321294

90218729

BANK OF INDIA

28/06/1981

-

-

460000.0

CHAKLA BRANCH SANGAM BRANCH; CHAKLA BOMBAY MAHARASHTRA INDIA

6

Y10321287

90218722

BANK OF INDIA

02/04/1981

09/06/1983

-

500000.0

CHAKLA BRANCH SANGAM BRANCH; CHAKLA BOMBAY MAHARASHTRA INDIA

7

Y10321280

90218715

BANK OF INDIA

22/12/1980

29/10/1983

-

900000.0

CHAKLA BRANCH SANGAM BRANCH; CHAKLA BOMBAY MAHARASHTRA INDIA

8

Y10321269

90218704

THE MAHARASHTRA STATE FINANCIAL CORPORATION

02/10/1979

-

-

188000.0

5&7&8&9 FLOOR AMRIT KESHAV NAYAK MARG BOMBAY MAHARASHTRA INDIA

9

C57817611

90218674

UNION BANK OF INDIA

20/01/1978

-

26/06/2015

159184.0

CENTRAL OFFICE METRO POLITAL ZONE ; NARIMAN POINT BOMBAY MAHARASHTRA INDIA

10

C57815482

90218692

UNION BANK OF INDIA

10/11/1978

-

26/06/2015

250000.0

CENTRAL OFFICE METRO POLITAL ZONE ; NARIMAN POINT BOMBAY MAHARASHTRA INDIA

 

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Excise Duty Claim by the Department for which Company has gone on Appeal and decision awaited

2.325

2.325

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and equipment
  • Factory equipments
  • Furniture and fixtures
  • 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, 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 67.95

UK Pound

1

INR 91.88

Euro

1

INR 80.27

 

 

INFORMATION DETAILS

 

Information Gathered by :

SAV

 

 

Analysis Done by :

NIY

 

 

Report Prepared by :

JYTK

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.