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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

504101

Report Date :

31.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

P.P. PLAST INDUSTRIES

 

 

Registered Office :

S. No. 1225/23, Paisa Fund Glassworks, Talegaon Dabhade, Tal. Maval, Pune – 410507, Maharashtra

Tel. No.:

91-9422311513 [Mr. Premchand Chikne]

Website :

Not Available

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Year of Establishment :

05.01.1998

 

 

Capital Investment / Paid-up Capital :

INR 35.721 Lacs

 

 

IEC No.:

Not Available

 

 

GSTIN/UIN:

27ACGPC8202L1ZO

 

 

TIN No.:

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

ACGPC8202L

 

 

SSI Reg. No.:

111952529

 

 

Shop & Establishment Certificate No.:

--

 

 

Udyog Aadhaar No.:

--

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Manufacturer of Packaging Material

 

 

No. of Employees :

12 (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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a proprietary concern established in the year 1998. The concern is a manufacturer of packaging material.


As per the financial records of 2017, the concern has achieved a decent growth in its revenue as compared to the previous year’s revenue and has reported an average profitability margin.


The concern possesses satisfactory financial position marked by sufficient capital base along with acceptable debt level.


Payment seems to be usually correct.


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


NOTE:

 

Site visit was conducted at the address- S. No 1225/23, Paisa Fund Glass works, Talegoan Dabhde, Tal-Maval, Pune-410507 and our executive has successfully traced the subject on the said address.


At the premises our executive met Mr. Parmanand Chikne (Proprietor) and he provided hard copy of all the documents.


During the visit our executive inquired with the neighbour company Bhairuvi who confirmed the subject’s existence on the said address.


As per our executive’s observation, it is shed type premises. Location was easy to find. Locality appears to be commercial cum industrial. Area seems to be upmarket. Level of operations is medium. Area of premises is 4000 sq. ft. and 12 employees were sighted in the premises. Name board of the subject was sighted at the said address.

 

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

 

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 31.05.2018.

 

 

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 PARTED BY

 

Name :

Mr. Premanand Chikne

Designation :

Proprietor

Contact No.:

91-9422311513

Date :

13.04.2018

 

 

LOCATIONS

 

Registered Office / Factory :

S. No. 1225/23, Paisa Fund Glassworks, Talegaon Dabhade, Tal. Maval, Pune – 410507, Maharashtra, India

Tel. No.:

Not Available

Mobile No.:

91-9422311513

91-9464996677 [Mr. Premanand Chikne]

Fax No.:

Not Available

E-Mail :

ppplast29@gmail.com

Area :

4000 sq. ft.

Locality:

Commercial cum Industrial

 

 

Corporate Office :

S. No. 695/A, Plot No. 5, Parnvidya Dham, Khandge Colony, Talegaon, Dabhade, Pune – 410507, Maharashtra, India

 

 

SOLE PROPRIETOR

 

Name :

Mr. Parmanand Parbati Chikne

Designation :

Proprietor 

Address :

Near Petrol Pump, Parnvidya Dham 695/A, Plot No. 5, Khandge Colony, Talegaon Station, Pune – 410507, Maharashtra, India

Date of Birth/Age :

11.03.1976

PAN No.:

ACGPC8202L

Aadhar No.:

6404 1367 2758

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Packaging Material

 

 

Products :

Packaging Material

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

L/C, Cash, Credit

 

 

Purchasing :

L/C, Cash, Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Retailers, Wholesalers and End Users

 

  • Badve Engineering Limited, Chakan
  • Voss Automotive India Private Limited, Priangut
  • Jindalsoft Italia Seatings Private Limited, Chakan

 

 

No. of Employees :

12 (Approximately)

 

 

Bankers :

Banker Name :

IDBI Bank

Branch :

Namrata Commercial Complex, Plot No. 23, Talegaon, Dabhade, Pune – 410507, Maharashtra, India

Type Account

--

Person Name (With Designation) :

Mr. Kamini Patil

Contact Number :

91-2114-229316

91-9766628712

Name of Account Holder :

--

Account Number :

67735010000077

IFSC Code

IBKL0000677

E-Mail

Ibkl0000677@idbi.co.in

kamini.patil@idbi.co.in

MICR No.:

411259019

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

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

Cash Credit INR 25.000 Lacs

Account Operation :

--

Remark :

--

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Lacs)

31.03.2016

(INR in Lacs)

IDBI Bank Limited

23.147

0.325

Loan from ICICI Bank

21.962

0.000

 

 

 

Total

45.109

0.325

 

Auditors :

 

Name :

Prachi Mutha and Company

Chartered Accountants

Address :

S. No. 1225/23, Paisa Fund Glass Works,  Talegaon Dabhde Tal-Maval Pune – 410507, Maharashtra, India

 

 

Name :

Adwani and Associates

Chartered Accountants

Address :

“Ashiyana”, Plot No. 138, Opposite Cosmos Co-Operative Bank Limited, Pimpri, Pune – 411017, Maharashtra, India

Tel. No.:

91-20-27416362

E-Mail :

veenapadwani@gmail.com

Membership No.:

130574

 

 

Collaborators :

Not Available

 

 

Membership :

Not Available

 

 

Sister Concern :

--

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Capital Account

 

Particulars

INR In Million

INR In Million

Capital of Mr. Parmanad P. Chikne

38.527

 

Drawings

(1.946)

 

Income Tax (Self)

(0.179)

 

LIC

(0.681)

 

Total

 

35.721

 

 

FINANCIAL DATA

[all figures are INR Lacs]

 

Note: Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

 

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

31.03.2015

EQUITY AND LIABILITIES

 

 

 

1] Share Capital

35.721

31.034

28.955

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

35.721

31.034

28.955

LOAN FUNDS

 

 

 

1] Secured Loans

23.147

0.000

0.000

2] Bank O/D

21.962

0.325

9.703

3] Unsecured Loans

9.423

6.623

6.623

TOTAL BORROWING

54.532

6.948

16.326

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

90.253

37.982

45.281

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

31.544

6.563

6.891

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

3.760

0.345

0.345

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

27.363

16.408

11.503

 

Sundry Debtors

43.026

17.382

38.839

 

Cash & Bank Balances

2.366

1.148

0.226

 

Other Current Assets

0.375

0.279

0.137

 

Loans & Advances

1.100

0.000

0.000

Total Current Assets

74.230

35.217

50.705

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors

18.787

3.302

11.866

 

Other Current Liabilities

0.000

0.000

0.000

 

Provisions

0.494

0.841

0.794

Total Current Liabilities

19.281

4.143

12.660

Net Current Assets

54.949

31.074

38.045

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

90.253

37.982

45.281

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

166.404

104.853

138.356

 

Other Income

0.182

0.070

0.000

 

TOTAL

166.586

104.923

138.356

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

132.438

87.007

115.523

 

Wages

0.900

0.859

1.599

 

Administration Charges

4.075

0.000

0.000

 

Excise Duty

3.505

0.000

0.000

 

Other Charges

(0.003)

0.025

0.000

 

Power Charges

2.313

0.000

0.000

 

Repair and Ment (Machinery)

0.027

0.000

0.000

 

Labour charges

0.000

0.000

(0.014)

 

Testing Fees

0.023

0.000

0.000

 

Transport Charges

0.398

1.716

1.863

 

Accounting Writing Charges

0.000

0.290

0.160

 

Audit Fees

0.250

0.200

0.200

 

C C Renewal Fees

0.282

0.000

0.000

 

Consultancy Fees

0.080

0.000

0.000

 

Discount Given

0.000

0.000

0.003

 

Internet Charges

0.144

0.000

0.000

 

Legal Fees

0.130

0.100

0.060

 

Miscelleneous Expenses

0.000

0.000

0.255

 

MSEDCL

0.000

3.930

4.892

 

Rent Paid

2.310

0.000

0.000

 

Repair and Maintenance

0.370

0.035

0.000

 

Round Off

(0.001)

(0.001)

0.000

 

Salary

5.072

4.127

4.051

 

Travelling Expenses

1.059

0.000

0.935

 

Vat Audit Fees

0.150

0.000

0.000

 

Vehicle Insurance

0.715

0.000

0.000

 

The Original Insurance

0.000

0.061

0.060

 

TOTAL

154.237

98.349

129.587

 

 

 

 

 

 

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

12.349

6.574

8.769

 

 

 

 

 

Less

FINANCIAL EXPENSES

1.950

1.074

1.203

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

10.399

5.500

7.566

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

2.907

0.812

0.614

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

7.492

4.688

6.952

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

94.38

60.51

102.46

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

3.87

6.03

3.56

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

51.78

13.85

37.49

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.45

0.40

0.76

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.39

1.00

1.27

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.67

0.26

0.50

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.53

0.22

0.56

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.80

0.35

0.67

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.88

0.21

0.24

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

6.33

6.12

7.29

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

4.50

4.47

5.02

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

6.84

11.13

12.00

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

20.97

15.11

24.01

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

2.72

3.30

2.65

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.76

1.78

2.05

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.33

0.74

0.50

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

1.53

0.22

0.56

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.72

3.30

2.65

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are INR Lacs]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Lacs

INR In Lacs

INR In Lacs

Share Capital

28.955

31.034

35.721

Reserves & Surplus

0.000

0.000

0.000

Net worth

28.955

31.034

35.721

 

 

 

 

Secured Loan

0.000

0.000

23.147

Bank O/D

9.703

0.325

21.962

Unsecured loan

6.623

6.623

9.423

Total borrowings

16.326

6.948

54.532

Debt/Equity ratio

0.564

0.224

1.527

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Lacs

INR In Lacs

INR In Lacs

Sales

138.356

104.853

166.404

 

 

(24.215)

58.702

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Lacs

INR In Lacs

INR In Lacs

Sales

138.356

104.853

166.404

Profit

6.952

4.688

7.492

 

5.02%

4.47%

4.50%

 

 

 

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

Yes

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)

No

16

No. of employees

Yes

17

Details of sister concerns

No

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

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

No

31

External Agency Rating, if available

No

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

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Loan by P. Chikne

0.943

2.243

Loan by Prasad

1.400

0.000

Loan from Sai Polymers

4.380

4.380

Loan to Rutika

2.700

0.000

 

 

 

Total

9.423

6.623

 

 

OBSERVATION POINTS

 

Name of Company :

P.P. PLAST INDUSTRIES

 

 

Address :

S. No. 1225/23, Paisa Fund Glassworks, Talegaon Dabhade, Tal. Maval, Pune – 410507, Maharashtra, India

 

 

Mobile No.:

91-9764996677

 

 

Email :

ppplast29@gmail.com

 

 

Person to whom we met:

Mr. Premchand Chikane

 

 

Designation :

Proprietor

 

 

Name Board :

Sighted

 

 

Location:

Easy

 

 

Landmark (If Any):

Near Paisa Fund Glassworks

 

 

Total Floors of the building:

Shed type premises

 

 

Locality:

Commercial cum Industrial

 

 

Area of premises :

4000 sq. ft.

 

 

Area :

Upmarket

 

 

Level of operation :

Medium

 

 

Details of hypothecation signboard (If Any) (As displayed in factory / work) :

 

 

No. of employees seen at premises:

12 employees

 

 

Visibility of Items:

--

 

 

Furniture items sighted :

--

 

 

Neighbour’s interview :

During the visit our executive inquired with the neighbour company Bhairuvi who confirmed the subject’s existence on the said address.

 

 

Proof of visit:

Photograph

 

 

Details of the person conducting visit:

Name: Sharad Patil

Designation: Field Executive

Contact No.: 91-7875545858

 

 

 

 

PICTURES

 

 

 

 

 

 

 

 

 

    

 

 

 

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 (as on 31.05.2018) (date of report) :

 

            No press reports / filings exists on the subject.

INFORMATION DETAILS

 

Information Gathered by :

SUV

 

 

Analysis Done by :

NYT

 

 

Report Prepared by :

JYO

 

 

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

NO

--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

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.
 
 

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