MIRA
INFORM REPORT
|
Report Date : |
20.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
UCHITHA
GRAPHIC PRINTERS PRIVATE LIMITED |
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Registered Office : |
65,
Ideal Industrial Estate, Mathuradas Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai – 400013, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
27.09.1995 |
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Com. Reg. No.: |
11-93160 |
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CIN No.: [Company
Identification No.] |
U22219MH1995PTC093160 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU02498G |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Printing
of visiting cards, forms, books, periodicals, journals, annual report and
other literary works. |
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
65000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established and reputed company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office / Factory : |
65,
Ideal Industrial Estate, Mathuradas Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-2497
8289 / 3492 / 2492 1978 / 2496 8046 / 2498 8741 |
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Fax No.: |
91-22-2497
2297 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr.
Kamal Shamsunder Pai |
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Designation : |
Director
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Address : |
A-601,
Trinity Apartments, oriem Tank Road, Malad [West], Mumbai – 400064,
Maharashtra, India |
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Date of Birth/Age : |
09.09.1960 |
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Date of Appointment : |
27.09.1996 |
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Name : |
Mr.
Satya Manohar Prabhu |
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Designation : |
Director
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Address : |
A-301,
Adarsh galaxy, Adarsh Vihar Complex, Off Marve Road, Mumbai – 400054,
Maharashtra, India |
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Date of Birth/Age : |
22.03.1966 |
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Date of Appointment : |
27.09.1995 |
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Name : |
Mr.
Shamsunder Narsimha Pai |
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Designation : |
Director
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Address : |
A-601,
Trinity Apartments, oriem Tank Road, Malad [West], Mumbai – 400064, Maharashtra,
India |
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Date of Birth/Age : |
15.02.1955 |
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Date of Appointment : |
26.12.1997 |
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Name : |
Mr.
Manohar Padmanabh Prabhu |
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Designation : |
Director
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Address : |
A-301,
Adarsh galaxy, Adarsh Vihar Complex, Off Marve Road, Mumbai – 400054,
Maharashtra, India |
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Date of Birth/Age : |
06.02.1962 |
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Date of Appointment : |
26.12.1997 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr.
Kamal Shamsunder Pai |
|
24500 |
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Mr.
Satya Manohar Prabhu |
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24500 |
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Mr.
Shamsunder Narsimha Pai |
|
18000 |
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Mr.
Manohar Padmanabh Prabhu |
|
18000 |
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Total |
|
85000 |
BUSINESS DETAILS
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Line of Business : |
Printing
of visiting cards, forms, books, periodicals, journals, annual report and
other literary works. |
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Products : |
Offset
Printing |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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Bankers : |
210, S. G. Barve Marg, Kurla [West], Mumbai – 400070, Maharashtra, India Standard Chartered
Bank
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Banking Relations : |
Satisfactory
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Auditors : |
Arvind
Mailya and Company Chartered
Accountants 418,
Dattani Trade Centre, Borivali [West], Mumbai – 400092, Maharashtra, India |
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Tel. No.: |
91-22-28637518 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
350000 |
Equity
Shares |
Rs. 10/- each |
Rs. 3.500 Millions |
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Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
85000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.850 Millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.850 |
0.850 |
0.850 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
15.649 |
14.920 |
10.026 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.499 |
15.770 |
10.876 |
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LOAN FUNDS |
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1] Secured Loans |
4.813 |
8.811 |
12.054 |
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2] Unsecured Loans |
3.765 |
3.765 |
2.765 |
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TOTAL BORROWING |
8.578 |
12.576 |
14.819 |
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DEFERRED TAX LIABILITIES |
3.052 |
0.000 |
0.000 |
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TOTAL |
28.129 |
28.346 |
25.695 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
18.735 |
20.480 |
19.345 |
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INVESTMENT |
0.819 |
0.777 |
0.698 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.212
|
1.013 |
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Sundry Debtors |
26.656
|
21.738 |
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Cash & Bank Balances |
0.472
|
0.488 |
20.069 |
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Deposit |
0.583
|
2.955 |
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Loans & Advances |
2.613
|
0.510 |
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Total Current Assets |
32.536
|
26.704 |
20.069 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
23.964
|
19.619 |
14.423 |
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Provisions |
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Total Current Liabilities |
23.964
|
19.619 |
14.423 |
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Net Current Assets |
8.572
|
7.085 |
5.646 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.004 |
0.006 |
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TOTAL |
28.129 |
28.346 |
25.695 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2004 |
31.03.2003 |
|
Sales Turnover [including other income] |
|
78.059 |
72.656 |
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Profit/(Loss)
Before Tax |
|
5.881 |
6.461 |
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Provision
for Taxation |
|
2.165 |
1.621 |
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Profit/(Loss)
After Tax |
|
3.716 |
4.840 |
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Total
Expenditure |
|
72.178 |
65.895 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2004 |
31.03.2003 |
31.03.2002 |
|
PAT / Total Income |
(%) |
4.76
|
6.66 |
NA |
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Net
Profit Margin (PBT/Sales) |
(%) |
7.53
|
8.89 |
NA |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
11.47
|
13.69 |
NA |
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Return
on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.41 |
NA |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
1.97
|
2.04 |
2.69 |
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Current
Ratio (Current
Asset/Current Liability) |
|
1.36
|
1.36 |
1.39 |
LOCAL AGENCY
FURTHER INFORMATION
UCHITHA's well equipped
Printing Press & Designing Studio with its dedicated professional team
endeavor to re-create the nature's splendour. The team of dedicated personnel,
with the state of art equipment, translates these creations into print
products. These products of dedicated art & concentrated efforts reaches
the client in the form of Visual Aids, Annual Reports, Posters, Brochures,
Pharma Literatures, Catalogue, Folders, Bank Catalogue, Flip Charts, Calendar,
Booklets, Corporate Profile Booklets, Products Manual Book, Souvenir,
Invitation Cards, Greetings Cards, Wedding Cards, Executive Diaries, Pocket
Diaries, Corporate Diaries, Yearly Planner etc. Designing & Printing under
one roof & with vertical integration of process UCHITHA translates Nature's
canvas into print products for a host of satisfied clientele.
The encouragement
& motivation would shower success on their Multicolour Designing &
Printing Services upto the final print job in the hands. They look forward to
the continued involvement in all their present & future endeavours. Each
& every job entrusted to UCHITHA will give you immense satisfaction of
procuring the most unique, innovative & individuals creations.
Directors
Report
The
overall performance of the company during the year was satisfactory. The
company has increased the sales to Rs. 77.500 Millions compared to Rs. 70.100
Millions during the previous year against stiff competition. Reputed
institutional clients have placed their order with year company directors have
conceded negotiations with several other reputed clients
Fixed
Assets
Office
Equipments
Furniture
and Fixture
Plant
and Machinery
Vehicles
Computers
Electrical
Fittings
Bankers
Charges Report as per Registry
|
Name of the company |
UCHITHA GRAPHIC PRINTERS PRIVATE LIMITED |
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Presented By |
Mr. S. N. Pai, Director |
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1) Date and description of instrument creating the change |
Loan
Agreement, Deed of Hypothecation, Lieu and Set off dated 18.11.2005 [Received
by the company on 24.11.2005] |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
10.000 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Machinery
and immovable property to be acquired in future by the borrowers. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As per
loan agreement dated 18.11.2005 [Received
by the company on 24.11.2005] Term
loan to be repaid in 84 equal monthly instalments, on or before 17.11.2012,
of Rs. 0.068 Millions + Rs. 0.121 Millions = Rs. 0.489 Millions each
commencing December, 2005 Interest
to be paid @ 14.50 % p.a. which is subject to revision by the bank, from time
to time In
case of default, penal interest at a rate to be decided by the bank. |
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5) Name and Address and description of the person entitled to the charge. |
The
Kurla Nagrik Sahakari Bank Limited 210,
S. G. Barve marg, Kurla [West], Mumbai – 400070, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
Not
Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not
Applicable |
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Name of the company |
UCHITHA GRAPHIC PRINTERS PRIVATE LIMITED |
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Presented By |
Mr. M. P. Prabhu, Director |
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1) Date and description of instrument creating the change |
Loan
Agreement and Promissory Note dated 08.05.2001 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 14.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All
fixed and movable assets of the company Komori
Japan made Lithrone 432 Four colour
offset printing machine second hand as per invoice No. 105 dated 02.04.2001 Four
and Five colour offset printing machine old machineries. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As per
loan agreement dated 03.05.2001 [Received
by the company on 14.05.2001] The
Borrower shall pay to the Bank interest at the rate of 16 % per annum which
shall be paid along with the amount of loan instalments every month. The bank
shall be entitled to revise the rate of interest from time to time and the
borrower hereby expressly agree to pay interest at such revise rate as may be
decided by the Board of Directors. The
said loan shall be repaid by the borrower to the bank by monthly instalment
of Rs. 0.233 Millions + interest Rs. 0.184 Millions = Rs. 0.417 Millions each
of which the first instalments is payable on or before June 2001 us interest
at the rate as stated above. In case the borrower failed to pay the
instalment the due date, he shall
liable to pay to the bank penal interest the rate of 2 % p.a. on such
defaulted amount. |
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5) Name and Address and description of the person entitled to the charge. |
The
Kurla Nagrik Sahakari Bank Limited 210,
S. G. Barve marg, Kurla [West], Mumbai – 400070, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
Not
Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not
Applicable |
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.44.25 |
|
UK
Pound |
1 |
Rs.86.41 |
|
Euro |
1 |
Rs.58.10 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
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|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|
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 |
|