MIRA
INFORM REPORT
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Report Date : |
13.07.2007 |
IDENTIFICATION DETAILS
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Name : |
IDEAL PRINTOGRAPHICS PRIVATE LIMITED |
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Registered Office : |
29, Central Market, II Floor, Punjabi Bagh (West), New Delhi-110059 |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
14.02.2003 |
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Com. Reg. No.: |
118970 |
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CIN No.: [Company
Identification No.] |
U29195DL2003PTC118970 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKI00522E |
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PAN No.: [Permanent
Account No.] |
AABCI1245F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Printing Machines. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
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Maximum Credit Limit : |
USD 4000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track.
Company’s profitability is under severe pressure. It has some accumulated
losses. Payments are reported as slow but correct. The company can be considered normal for small business dealings at
usual trade terms and conditions, with slight caution initially. |
LOCATIONS
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Registered Office : |
29, Central Market, II Floor, Punjabi Bagh (West), New Delhi-110059 |
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Tel. No.: |
91-11-25221122 |
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Mobile No.: |
91-9811697296 |
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Fax No.: |
91-11-25221459 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. [Owned] |
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Factory : |
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Mobile No.: |
91-9873678549 |
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Fax No.: |
91-129-2441657 |
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Area : |
1000 sq. ft. [Owned] |
DIRECTORS
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Name : |
Mr. Gajender Dagar |
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Designation : |
Director |
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Mobile No.: |
91-9811697296 |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Post Graduate; MBA |
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Experience : |
10 Years |
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Name : |
Mr. C. R. Dagar |
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Designation : |
Director |
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Date of Birth/Age : |
50 Years |
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Qualification : |
Graduate |
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Experience : |
30 Years |
KEY EXECUTIVES
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Name : |
Mr. Surinder Singh |
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Designation : |
Chief Executive Officer – Marketing, Administration etc. |
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Address : |
91-9899735959 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Printing Machines. |
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Exports : |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Against at Sight |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Customers : |
Book Printers and Newspaper Printers |
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No. of Employees : |
Above 50 |
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Bankers : |
State Bank of |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Tayal and Company Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.500 |
2.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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[1.483] |
[1.644] |
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NETWORTH |
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1.017 |
0.856 |
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LOAN FUNDS |
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1] Secured Loans |
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0.236 |
0.678 |
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2] Unsecured Loans |
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7.789 |
8.468 |
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TOTAL BORROWING |
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8.025 |
9.146 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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9.042 |
10.002 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.965 |
1.467 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.370 |
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DEFERREX TAX ASSETS |
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0.670 |
0.691 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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18.079 |
16.316 |
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Sundry Debtors |
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12.145 |
10.703 |
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Cash & Bank Balances |
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0.352 |
0.502 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.429 |
0.209 |
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Total
Current Assets |
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32.005 |
27.730 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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25.636 |
20.319 |
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Provisions |
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0.018 |
0.000 |
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Total
Current Liabilities |
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25.654 |
20.319 |
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Net Current Assets |
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6.351 |
7.411 |
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MISCELLANEOUS EXPENSES |
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0.056 |
0.063 |
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TOTAL |
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9.042 |
10.002 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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43.219 |
22.563 |
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Other Income |
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1.674 |
1.018 |
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Total Income |
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44.893 |
23.581 |
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Profit/(Loss) Before Tax |
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0.217 |
0.171 |
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Provision for Taxation |
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0.056 |
[0.691] |
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Profit/(Loss) After Tax |
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0.161 |
0.862 |
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Expenditures : |
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Raw Material Consumed |
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35.710 |
16.172 |
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Manufacturing Expenses |
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3.553 |
1.330 |
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Personal Expenses |
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1.403 |
1.580 |
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Excise Duty Paid |
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1.673 |
2.010 |
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Administrative Expenses |
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0.530 |
0.486 |
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Selling and Distribution Expenses |
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0.356 |
0.756 |
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Financial Expenses |
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1.310 |
0.935 |
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Depreciation & Amortization |
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0.141 |
0.141 |
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Total Expenditure |
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44.676 |
23.410 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.36 |
3.66 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.50 |
0.76 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.64 |
0.59 |
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Return on Investment (ROI) (PBT/Networth) |
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0.21 |
0.20 |
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Debt Equity Ratio (Total Liability/Networth) |
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33.12 |
34.42 |
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Current Ratio (Current Asset/Current Liability) |
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1.25 |
1.36 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Dainik
Navjyoti [Jaipur /
- Himalayan
Mail [
As Per Website
Subject is manufacturer of Web Offset printing Presses in various cut off sizes and speeds with the brand name 'Fastrek'. The company established a modern hi-tech manufacturing plants & most of the 'A' class items (Casting Cylinders etc) are built in its own factory by a highly skilled team of 200 engineers using latest machines and techniques to ensure quality printing press for long life of the machine without any breakdown.
Subject is a professionally managed company run by energetic and technical people who have experience in line of designing, manufacturing and planning, Ideal believes in quality & the motto off the company is to provide 'Quality Product'.
All their Fastrek -16 and fastrek-30 web presses are equipped with solid stainless steel plate and blanket cylinders in AISI 40 Grade to enhance life of the machine, Stress relieved cast iron to ensure smooth running of the press and also to enhance the long life of the bores.
Ideal ensures the reliability and performance of the
equipment while making sure that each process of the equipment is optimized. It
is the result that makes Ideal a genuine supplier of complete solution under
one roof.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.38 |
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1 |
Rs.82.04 |
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Euro |
1 |
Rs.55.56 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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28 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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