MIRA
INFORM REPORT
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Report Date : |
08.06.2007 |
IDENTIFICATION DETAILS
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Name : |
RAKESH PRESS PRIVATE LIMITED |
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Registered Office : |
A-7, Naraina Industrial Area, Phase II, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
31.03.1994 |
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Com. Reg. No.: |
058191 |
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CIN No.: [Company
Identification No.] |
U74899DL1994PTC058191 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR11600B |
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PAN No.: [Permanent
Account No.] |
AAACR1351A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Printing of Magazines, Greeting Cards, Corporate Brochures, Calendars,
Annual Reports, Diaries, Books and Catalogues. |
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 : |
-- |
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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 slow but correct. The company can be considered normal for small business dealings at
usual trade and conditions, with slight caution initially. |
LOCATIONS
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Registered Office : |
A-7, Naraina Industrial Area, Phase II, |
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Tel. No.: |
91-11-41417522/ 41417523/ 25706666 |
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Mobile No.: |
91-9818206165/ 9810006164 |
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Fax No.: |
91-11-25700698 |
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E-Mail : |
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Website : |
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Location : |
Industrial |
DIRECTORS
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Name : |
Mr. Ram Nath Bagai |
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Designation : |
Director |
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Address : |
B-416, New Friends Colony, |
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Date of Birth/Age : |
22.02.1923 |
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Date of Appointment : |
31.03.1994 |
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Name : |
Mr. Rakesh Bagai |
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Designation : |
Director |
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Address : |
B-416, New Friends Colony, |
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Date of Birth/Age : |
29.08.1949 |
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Date of Appointment : |
31.03.1994 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. Rakesh Bagai |
19510 |
43.81 |
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Mr. Shashi Prabha |
14510 |
32.59 |
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Mr. Ram Nath Bagai |
10510 |
23.60 |
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Total |
44530 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Printing of Magazines, Greeting Cards, Corporate Brochures, Calendars,
Annual Reports, Diaries, Books and Catalogues. |
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Exports : |
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Products : |
-- |
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Countries : |
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Imports : |
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Products : |
Printing Machineries, inks and accessories |
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Countries : |
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Terms : |
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Selling : |
Letter of Credit / Advance Payment |
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Purchasing : |
On documents against Acceptance and Documents against Payment |
GENERAL INFORMATION
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No. of Employees : |
Around 80 |
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Bankers : |
Standard Chartered Bank, Sansad Marg, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s. Raju and Prasad (M/s. S K Gupta, Partner) Chartered Accountant |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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44530 |
Equity Shares |
Rs. 10/- each |
Rs. 0.445
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2005 |
31.03.2004 |
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Import Value |
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2.367 |
4.919 |
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.445 |
0.445 |
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2] Share Application Money |
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0.300 |
0.300 |
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3] Reserves & Surplus |
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1.254 |
1.254 |
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4] (Accumulated Losses) |
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(3.185) |
(3.475 |
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NETWORTH |
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(1.186) |
(1.476) |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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8.457 |
8.457 |
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TOTAL BORROWING |
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8.457 |
8.457 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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7.271 |
6.981 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.626 |
3.136 |
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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 |
0.000 |
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DEFERREX TAX ASSETS |
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1.016 |
1.1284 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.091 |
3.126 |
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Sundry Debtors |
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1.454 |
1.612 |
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Cash & Bank Balances |
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1.915 |
0.134 |
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Deposits |
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0.051 |
0.068 |
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Loans & Advances |
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0.156 |
0.147 |
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Total
Current Assets |
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5.667 |
5.087 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.045 |
2.535 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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3.045 |
2.535 |
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Net Current Assets |
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2.622 |
2.552 |
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MISCELLANEOUS EXPENSES |
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0.007 |
0.009 |
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TOTAL |
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7.271 |
6.981 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover |
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7.956 |
8.578 |
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Other Income |
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0.177 |
0.003 |
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Total Income |
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8.133 |
8.581 |
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Profit/(Loss) Before Tax |
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0.557 |
(0.168) |
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Provision for Taxation |
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0.267 |
(0.030) |
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Profit/(Loss) After Tax |
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0.290 |
(0.138) |
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Expenditures : |
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Cost of Goods Sold |
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6.147 |
7.198 |
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Sales and
Administrative Expenses |
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1.186 |
1.297 |
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Preliminary Expenses |
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0.002 |
0.002 |
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Depreciation & Amortization |
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0.241 |
0.252 |
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Total Expenditure |
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7.576 |
8.749 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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3.57 |
(1.61) |
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Net Profit Margin (PBT/Sales) |
(%) |
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7.00 |
(1.96) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.81 |
(1.45) |
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Return on Investment (ROI) (PBT/Networth) |
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(24.45) |
9.35 |
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Debt Equity Ratio (Total Liability/Networth) |
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(7.13) |
(5.73) |
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Current Ratio (Current Asset/Current Liability) |
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1.86 |
2.01 |
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Quick Ratio |
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1.17 |
0.77 |
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Current Liabilities/ Networth |
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(2.57) |
(1.72) |
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Fixed Assets/ Networth |
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(3.06) |
(2.12) |
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Average Collection Days |
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66.71 |
68.59 |
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Account Receivables Turnover |
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5.47 |
5.32 |
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Inventory Turnover |
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3.80 |
2.74 |
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Asset Turnover |
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2.19 |
2.74 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets:
- Land
- Electrical
Installation
- Plant and
Machinery
- Furniture and
Fixtures
- Generator
- Tubewell
- Motor Cycle
Company Profile:
In today's dynamic and fast-paced environment,
everybody wants their job delivered "YESTERDAY". While that is a
physical impossibility, Rakesh Press comes surprisingly close to achieving the
impossible. Over 55 years of Printing Industry experience enables them to
perceive problems even before they arise and resolve the issues quickly and
efficiently, thereby saving the precious time and money. Because of their
full-service in-house facilities, they can take the job from disk to bindery
and complete the whole project under one roof. This is not only cost effective,
but also ensures that you are not dealing with a printer who attempts
blame-shifting instead of troubleshooting. In other words, they take full
responsibility for what they do.
Over the years, Rakesh Press has carved out a niche market and boasts an
expanding base of cream clientele including leading multinationals, publishers
and govt. organizations across all major industries & key vertical markets.
For the past 20 years, they have been closely associated with the
"Greeting Card" industry and their greeting cards and other
stationery items have been widely acclaimed in
The excellence of their services and products has won them glowing accolades
across the globe. Be guided by their motto now: Nothing is impossible in Art
& Technology of Printing. It's time to colour the imagination while they
shape it into reality.
Rakesh Press is a uniquely successful venture that has been in the
printing arena for more than 55 years. Established in January, 1950
under the watchful eyes of Mr. Ramnath Bagai, Rakesh Press was named
after his baby son - Rakesh. Mr. Rakesh Bagai graduated from
At Rakesh Press, they strongly believe that their valued customers deserve
nothing but the best. They nurture an environment where new technologies and
methods are continuously introduced in the existing system to improve
efficiency, quality and customer service.
Public Sector
- Directorate of Advertising and Visual
Publicity (DAVP)
- India Tourism Development Corporation
(ITDC)
- Indian Trade Promotion Organisation
(ITPO)
- National Buildings Construction
Corporation Ltd. (NBCC)
- Indian Airlines
- Publications Division,
- Centre for Cultural Resources &
Training (CCRT)
- Oil & Natural Gas Corporation
(ONGC)
- National Council of Educational
Research & Training (NCERT)
- Indian Farmers & Fertilisers Coop.
Ltd. (IFFCO)
- Krishak Bharti Cooperative Ltd.
(KRIBHCO)
Private Sector
(a) News Magazines and Journals
- Cyber Media (
- Electronics For You Enterprises (P)
Ltd. Electronics For You
- Indian Journal of Clinical Practice
Medinews & other related journals
- Magus Media Pvt. Ltd. Life Positive
(English & Hindi)
- Punjabi Digest Punjabi Digest &
Cine Digest
- Prajapita Brahma Kumaris Ishwariya
Vishwa Vidyalaya Purity
- Reliant Media Pvt. Ltd. The Auto
Magazine
- Saurabh Sagar Communication Destination
Worldwide
- Destination Magazine
- ILX MEDIA - Opthalmology Times
(b) Corporate Sector
- Domino's Pizza India Ltd.
- Sterling Cellular Ltd.
- Compaq
- Bank of
- American Embassy
- HCL (Nokia Division)
- World Health Organisation
- Bax Global India Ltd.
- Bharti Comtel Ltd.
- Ricoh India Ltd.
- Pidilite Industries Ltd., Mumbai
- Philips India Ltd.
- Panacea Biotec Ltd.
- Add Pens Ltd., Mumbai
- British High Commission
- Dabur India Ltd.
- Tata Teleservices Ltd.
- Ranbaxy Laboratories Ltd.
- Valvoline Cummins Ltd.
- Timex Watch Co., Noida
- Hewlett Packard India Ltd.
- Integrated Database India Ltd.
- Telemecanique & Controls (
- R.S. Components & Controls (
- Wago & Controls India Ltd.
- Magic Software Pvt. Ltd.
- Siemens Ltd.
- Motorola India Ltd.
- Piramoon Enterprises,
- Polymer Group,
(c) Publishers of Books and Greeting Cards
- Mohit Publishers & Educational Aids
- Hind Pocket Books Pvt. Ltd.
- Full Circle Publishing
- Vision Books Pvt. Ltd.
- Sarda Plywood Industries Ltd.
- Tarragon
- Mkuki Na
(d) Miscellaneous
- Printman Associates
- Action Shoes
- Akshay Agency
- ASL Graphics
- Helpage
ISO 9001:2000 Certification
Rakesh Press has implemented an
international-standard quality management system across all areas of operation.
They have applied for ISO certification, to provide continually improving and
high-quality services that meet all the printing needs. From pre-press to
delivery - defined processes are submitted for regular inspection during
internal and external audits and constantly improved as part of the change
management process. Quality Control specialists, supervisors and coordinators
are responsible for quality assurance and improving internal and external
processes. Customer satisfaction surveys are regularly carried out, while all
their team members contribute to ensure that Rakesh Press meets even the most
demanding expectations in quality and service.
Rakesh Press is an eco-friendly printing
company and strictly adheres to the Hazardous Waste Management regulations.
They have received the Hazardous Waste Management Certificate and also opt for
greener printing techniques in a bid to be a good environmental steward
Honours and recognition
have come their way as Rakesh Press continues to excel and provides its
customers with quality book printing and calendar printing, on-time delivery
and cost-effective print solutions in
Awards
- First Prize
Multicolour Archies Poster in size 20"x30" - PAMEX 1983
Certificate of Merit
Multicolour Archies Greeting Card - PAMEX 1983 - Second Prize
Multicolour Single Sheeter Televista Wall Calendar in 23"x36" - DAVP National Award 1982 - First Prize
Books: Indian Language (Hindi) - DAVP National Award 1983 - First Prize
Multicolour Archies New Year Greeting Card - PAMEX 1987 - Certificate
of Merit
Multicolour Archies Wall Calendar - PAMEX 1987 - Certificate
for excellence in printing
"Excellence in Printing" - World Print Congress Awards, 1993 for printing of Archies Diwali and New Year Cards, LML Vespa Calendar etc. - First Prize
Books: Indian Language (English) - - Certificate
of Merit
Multicolour four sheeter LML Vespa Calendar - Certificate
of Merit - AIPC '94
Four Colour Children Book- Frank Brothers - South Asian
Print Congress Award in 1996 -- First Prize
Category 2: Point of Promotion (POP'S) Multicolour Archies Poster in size 20"x30" - PAMEX 1997. They were the only printing press to win a first prize from - Second Prize
Category 7: Books other than Periodicals/Magazines "A Moment in Time with Legends of Indian Arts" by Alka Raghuvanshi - PAMEX 1997
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.40.98 |
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|
1 |
Rs.80.98 |
|
Euro |
1 |
Rs.54.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
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 |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
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
|
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 |
|