MIRA
INFORM REPORT
|
Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
THE INKS |
|
|
|
|
Registered Office : |
B – 46, Sector – 59, Noida – 201 301, Uttar Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1982 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturers and Exporters of Printing Inks. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 14000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Proprietor is reported as
experienced and respectable businessman.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The concern can be considered normal for business dealing at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office / Factory : |
B – 46, Sector – 59, Noida – 201 301, |
|
Tel. No.: |
91 – 120 – 2580 876 |
|
Mobile No.: |
91 – 98119 22095 |
|
Fax No.: |
91 – 120 -2580 877 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. fts. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. V. K. Arora |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
55 years |
|
Qualification : |
Graduate |
|
Experience : |
7 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Printing Inks. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Printing Inks |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash or Credit |
|
|
|
|
Purchasing : |
L/C, Cash or Credit (60 days) |
PRODUCTION STATUS
|
Products |
|
|
|
Actual
Production |
|
Printing Inks |
|
|
|
As per Demand |
GENERAL INFORMATION
|
Customers : |
v
Local Customers v
End Users |
|
|
|
|
No. of Employees : |
29 (Office: 4; Factory: 25) |
|
|
|
|
Bankers : |
Bank of Sector – 9, Noida, |
|
|
|
|
Facilities : |
Credit Limit: Rs. 2.500 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Goel Swami and Company Chartered Accountants |
|
Address : |
Noida, |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 3.500 millions |
|
Borrowed : |
- |
|
Total : |
Rs. 3.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
25.000 |
18.700 |
18.000 |
|
|
|
|
|
|
Profit/Loss for the year |
2.750 |
2.050 |
1.900 |
LOCAL AGENCY FURTHER INFORMATION
Trade References
Rajasthan Patrika
Website details attached:
Ink Industry
The Indian Economy at present is growing at a rate of around 6 to 7 percent
annually. The process of liberalization and economic reforms has been
accelerated as a result of full integration with WTO. Also, increasing
structural changes in the economy have created a very positive atmosphere for
growth.
As is the case
with all Industries in
Looking at the
packaging side, Current commodities packaged of overall goods produced may not
be more than 10% signaling the latent untapped demand.
There has been
increased use of packaging in various industries, mainly the food industry..
With a population more than one billion,
This leads to
calendaring and litho lamination being used for consumer products. Corrugated
printing is done mostly by sheetfed offset, although as the duty tariff has
dropped to approximately 40 percent on machinery, flexo is starting to gain a
small foothold.
While the domestic
market is expected to grow at a compounded rate of 15 percent per annum, the
export market has opened new frontiers for the Ink Manufacturers.
If Statistics are
anything to go by, Current per capital consumption of Inks in
This it is a direct indicator of how far they have to go to be at par with the
Developed nations in terms of Ink Consumption.
All in all, Ink
Industry as where they stand in
Profile
A colorful journey began in 1982, when The Inks India first set up a
manufacturing unit of Printing Inks. Since then, The Inks India has been on a
relentless pursuit of Quality and Service for their customers.
Located in the Industrial
Town of NOIDA, The Inks India, the firms boasts of a wide range of
Lithographic, Rotogravure & Flexographic Inks.
Geared for growth,
with a company owned Sales Office in New Delhi and a wide spread nationwide
distribution network, The Inks India constantly endeavors to serve customers
needs through the complete process.
Both
Lithographic Ink Manufacturing Unit and Rotogravure Unit are headed by highly
experienced and proficient Technical Heads. A dedicated Lab in each unit
ensures the Quality and Specifications of the Delivered Output is precisely
suited to the customer’s requirements.
At The subject, they firmly
believe in the virtues of Kaizen and there is a conscious effort to evolve
theirselves every day and deliver more value to their customer.
Their customer base includes some very prominent presses and packaging houses and is actively seeking to expand their product reach and services to larger numbers.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 40.33 |
|
|
1 |
Rs. 82.63 |
|
Euro |
1 |
Rs. 55.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
48 |
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 |
|