MIRA
INFORM REPORT
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Report Date : |
01.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
AJANTA
OFFSET & PACKAGING PRIVATE LIMITED |
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Registered Office : |
B-95, Wazirpur
Industrial Area, Delhi – 110 052 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
25.09.1969 |
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Com. Reg. No.: |
55-5126 |
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CIN No.: [Company
Identification No.] |
U74950DL1969PLC005126 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Printing, Publishing, Lithographing, Type
Founding, Photographic Printing and Electro-typing. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
1750000 |
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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
is a well established and reputed company having fine track records. Trade relations are fair. Financial position is good. Payments are reported as slow but correct. The
company can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
B-95, Wazirpur
Industrial Area, Delhi – 110 052, India |
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Tel. No.: |
91-11-27254550 / 27117594 / 27117443 / 27414843 |
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Fax No.: |
91-11-27138321 /
23712692 |
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E-Mail : |
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Website : |
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Head
/ Corporate / Domestic
Sales Office : |
Madani Hall, 1, Bahadurshah Zafar Marg,
New Delhi - 110 002 |
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Tel.
No.: |
91-11-23715871
/ 23320772 / 23320789, |
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Fax
No.: |
91-11-23712692 |
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E-Mail
: |
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Factory
: |
Plot No. 61, Sector 27 C, Faridabad - 121 003, Haryana M-1, Thiruvika Industrial Estate, Chennai - 600 032, Tamilnadu |
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Branches
: |
Ø Todi Mansion, 5th Floor, P-15, India Exchange Place Extension, Kolkata - 700 073, West Bengal Tel. No. 91-33-22362878 / 22376369 / 22375415 Fax No. 91-33-22258901 / 22362079 Ø A-220, Okhla Industrial Area, Phase - 1, New Delhi – 110020, India Tel. No. : 91-11-26815122 / 26819238 Fax No. : 91-11-26815122 E-mail : aptc@ajantaoffset.com Ø Madani Hall 1, Bahadurshah Zafar Marg, New Delhi - 110 002 |
DIRECTORS
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Name : |
Mr. Sunil Agarwal |
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Designation : |
Director |
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Name : |
Mr. G.
P. Todi |
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Designation : |
Chairman
& Managing Director |
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Address : |
C-757, New Friends Colony, New Delhi, India |
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Date of Birth : |
25.09.1949 |
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Name : |
Mr. J. N. Pathak |
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Designation : |
Director
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Address
: |
A-4A, Mahavir Vidyan Path, Bajaj Nagar, Jaipur, Rajasthan |
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Date
of Birth : |
17.02.1923 |
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Name : |
Mr. R. Vallavan |
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Designation : |
Director
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Address
: |
AP 292, Sector 8, K. K. Nagar, Chennai, Tamilnadu, India |
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Name : |
Mr. Deepak Mohan |
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Designation : |
Director
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Name : |
Mr.
Siddharth Todi |
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Designation : |
Director
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Name
: |
Mr. S. P. Roy Chaudhary |
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Designation
: |
Director
- Nominee [IDBI] |
BUSINESS DETAILS
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Line of Business : |
Printing, Publishing, Lithographing, Type
Founding, Photographic Printing and Electro-typing. |
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Products : |
Generic Names of the Principal Products / Services of the Company are:-
Ø Printed Calanders, Diaries, Books, Posters, etc. Ø Other Sales Ø Processing Printing |
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Imports from : |
Germany, Japan, U.K. and France
[Chemicals and Papers] |
GENERAL
INFORMATION
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Customers : |
Ø Pepsi Ø Sony Ø Caltex Ø Citibank Ø The World Bank |
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No. of Employees : |
400 |
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Bankers : |
Ø Central Bank of India Janpath, New Delhi |
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Banking Relations : |
-- |
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Auditors : |
K.
Prasad & Company Chartered
Accountants, C-31, South Extension Part I, New Delhi |
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Parent Company : |
Shrachi Group |
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Associates : |
Ø Ajanta Offset Packing Limited C-7/15A, Rampura Marg, New Delhi - 110 035 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 100.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
6849700 |
Equity
Shares |
Rs. 10/- each |
Rs. 68.497 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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68.500 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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391.300 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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459.800 |
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LOAN FUNDS |
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1] Secured Loans |
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511.700 |
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2] Unsecured Loans |
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21.100 |
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TOTAL BORROWING |
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532.800 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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992.600 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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800.200 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.200 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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199.400
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Sundry Debtors |
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176.400
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Cash & Bank Balances |
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41.900
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Other Current Assets |
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0.000
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Loans & Advances |
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55.200
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Total Current Assets |
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472.900
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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269.600
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Provisions |
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11.100
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Total Current Liabilities |
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280.700
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Net Current Assets |
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192.200
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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992.600 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover [including other income] |
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721.700 |
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Profit/(Loss)
Before Tax |
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57.800 |
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Provision
for Taxation |
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17.100 |
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Profit/(Loss)
After Tax |
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40.700 |
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Export
Value |
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N.A. |
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Total
Expenditure |
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663.900 |
KEY
RATIOS
|
PARTICULARS |
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31.03.2005 |
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Debt
Equity Ratio |
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1.16 |
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Long
Term Debt Equity Ratio |
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1.16 |
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Current
Ratio |
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1.68 |
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TURNOVER
RATIOS |
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Fixed
Assets |
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0.57 |
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Inventory
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3.41 |
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Debtors |
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3.86 |
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Interest
Cover Ratio |
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2.55 |
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Operating
Profit Margin (%) |
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23.54 |
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Profit
Before Interest and Tax Margin (%) |
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13.96 |
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Cash
Profit Margin (%) |
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15.56 |
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Adjusted
Net Profit Margin (%) |
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5.98 |
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Return
on Capital Employed (%) |
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9.57 |
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Return
on Net Worth (%) |
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8.85 |
LOCAL AGENCY
FURTHER INFORMATION
History
:
Subject is an outfit of the Shrachi Group being one of the three largest integrated print houses in India. It shifted focus to high quality printing in 1980 with massive modernisation programmes following in 1987, 1993 and 1996. This modernisation resulted in establishment of four integrated plants, a consistent growth rate of 20% p.a. over the last seven years. The steady growth rate of the company is almost twice the industry rate in India.
Trade
Reference :
Ø Escorts Limited, Faridabad, Haryana
Ø Eicher Tractors Limited, Faridabad, Haryana
WEBSITE
DETAILS
APTC is a Communication Technology service and design
solutions provider, originally setup by Apple Computer Inc., the US based
worldwide computer giant and Ajanta Offset & Packaging Limited. Now it is
known as Ajanta Publishing Technology Centre. Manpower is APTC's core strength.
They have experienced, full time professionals from Information Technology, Printing
Technology, Graphic Design and Multimedia. In addition, a panel of eminent
faculty and industry specialists drawn from all over the world conduct
seminars, symposiums and workshops. They also have a panel of consultants from
Information Technology as well as Print & Publishing and Telecom Industries
for turnkey assignments.
Areas of Operation
Digital Photo Studio (under planning)
Pre-Press Labs
Typesetting
Multimedia
Web Designing
Concept Visualization & Designing
Facilities
High speed Apple and IBM compatible workstations supporting Macintosh OS, Windows 95/98/NT.
Specialized equipment for Pre-Press include image setter from Scitex with PS RIP, Scitex and UMAX scanners, connected over a high speed AT&T network.
A well stocked library of a wide variety of licensed software, to cater to the specific requirements of every assignment.
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.93 |
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UK
Pound |
1 |
Rs.85.71 |
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Euro |
1 |
Rs.57.34 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
54 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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