MIRA
INFORM REPORT
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Report Date : |
21.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SHOBHA CARDS PRIVATE LIMITED |
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Registered Office : |
3618, Sudershan Market, Chawri Bazar, New Delhi-110006 |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
08.07.1994 |
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Com. Reg. No.: |
55-60129 |
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CIN No.: [Company
Identification No.] |
U74899DL1994PTC060129 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS26370B |
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PAN No.: [Permanent
Account No.] |
AABCS5853P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Pulp, Paper and Paper Board. |
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 74000 |
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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 records. 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
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Registered Office : |
3618, Sudershan Market, Chawri Bazar, New Delhi-110006, |
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Tel. No.: |
91-11-28833240/ 23271000 |
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Fax No.: |
91-11-23271000 |
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E-Mail : |
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Website : |
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Corporate Office : |
Global House, 4800/24, |
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Tel. No.: |
91-11-23245678/ 23271000 |
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Fax No.: |
91-11-23272000 |
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E-Mail : |
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Warehouse : |
Khara No.23/14, Behind Jain Mandir, |
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Tel. No.: |
91-11-27204851 |
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Branches : |
57, |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ghanshyam D Gupta |
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Designation : |
Director |
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Address : |
35, |
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Date of Birth/Age : |
08.12.1939 |
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Date of Appointment : |
08.07.1994 |
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Name : |
Mr. Ashok Kumar Gupta |
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Designation : |
Director |
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Address : |
70-A, Kamla Nagar, Delhi-110007 |
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Date of Appointment : |
08.07.1994 |
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Date of Ceasing : |
29.12.2004 |
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Name : |
Mr. Rajeshwar Kumar Gupta |
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Designation : |
Director |
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Address : |
35, |
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Date of Birth/Age : |
13.12.1964 |
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Date of Appointment : |
08.07.1994 |
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Name : |
Mr. Vipin Kumar Gupta |
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Designation : |
Director |
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Address : |
35, |
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Date of Birth/Age : |
06.10.1971 |
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Date of Appointment : |
08.07.1994 |
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Name : |
Mr. Himanshu Gupta |
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Designation : |
Director |
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Address : |
70-A, Kamla Nagar, Delhi-110007 |
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Date of Birth/Age : |
14.04.1985 |
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Date of Appointment : |
23.04.2005 |
KEY EXECUTIVES
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Marketing and Sales Team : |
Mr. P K Gupta Mr. P N Pandey Mr. Aditya Saboo Mr. Sharad Chand Mr. Manoj Verma Mr. Rajesh Bhatia Mr. Sandeep Sharma |
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Name : |
Mahesh Gupta & Company |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Ghanshyam D Gupta |
100 |
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Mr. Ashok Kumar Gupta |
2600 |
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Mr. Rajeshwar Gupta |
2600 |
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Mr. Vipin Kumar Gupta |
2600 |
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Mr. Ghanshyam Das Gupta HUF |
141700 |
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Mrs. Lalita Gupta |
400 |
All the shares are held by directors or their relatives.
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Pulp, Paper and Paper Board. |
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Products : |
v
Paperboard v
Art Paper/ Art Card v
Woodfree paper v
Chromo Paper / Board C15 v
Mirror (Cast) Coated Paper v
Mirror (Cast) Coated Board v
Copier Paper v
SBS v
Duplex Board v
FBB v
Carbonless Paper v
D O (Alabaster) v
White/Color Fine Paper/ Board v
Gum Sheet v
Ivory Board v
Thermal Paper v
Tissue/ Towelling v
Book Printing Paper |
GENERAL INFORMATION
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Customers : |
v
Publishers
of all segments v
Commercial
Printers v
Calendar
& Diary Manufacturers v
Envelope
Manufacturers v
Account
Books/Ledger Manufacturers v
Continuous
Stationery Manufacturers v
Advertising
Agencies v
Converters
v
Govt.
& Semi-Government Departments v
Banks
v
Hotels v
Airlines v
Greeting
card Manufacturers v
Wedding
card Manufacturers v
Laminators
v
Traders v
Packaging
Industry v
Pharmaceutical
Industry v
Cassette
Industry v News Papers |
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Bankers : |
v
Bank of v Citibank N.A., Jeevan Vihar, 3, Sansad Marg, New Delhi-110001 v ICICI Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Virendra K Jain & Company Chartered Accountants |
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Address : |
3618/11, Sudershan Market, Chawri Bazar, Delhi-110006, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000
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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15.000 |
1.500 |
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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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3.579 |
0.172 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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18.579 |
1.672 |
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LOAN FUNDS |
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1] Secured Loans |
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83.459 |
25.603 |
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2] Unsecured Loans |
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66.690 |
11.500 |
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TOTAL BORROWING |
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150.149 |
37.103 |
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DEFERRED TAX LIABILITIES |
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0.133 |
0.034 |
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TOTAL |
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168.861 |
38.809 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.980 |
1.917 |
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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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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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93.463 |
30.080 |
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Sundry Debtors |
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161.580 |
23.579 |
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Cash & Bank Balances |
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2.327 |
0.667 |
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Other Current Assets |
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19.392 |
0.000 |
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Loans & Advances |
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8.215 |
3.787 |
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Total
Current Assets |
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284.977 |
58.113 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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119.881 |
21.179 |
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Provisions |
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2.215 |
0.044 |
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Total
Current Liabilities |
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122.096 |
21.223 |
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Net Current Assets |
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162.881 |
36.890 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.002 |
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TOTAL |
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168.861 |
38.809 |
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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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Total Income |
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636.575 |
32.177 |
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Profit Before Tax |
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5.676 |
0.276 |
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Provision for Tax |
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1.930 |
0.044 |
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Profit After Tax |
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3.746 |
0.232 |
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Expenditures : |
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Interest |
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11.199 |
0.007 |
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Depreciation |
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0.986 |
0.049 |
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Other Expenses |
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0.656 |
0.006 |
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Total Expenditure |
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12.841 |
0.062 |
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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0.59 |
0.72 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.89 |
0.86 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.95 |
0.46 |
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Return on Investment (ROI) (PBT/Networth) |
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0.30 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
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14.65 |
34.88 |
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Current Ratio (Current Asset/Current Liability) |
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2.33 |
2.74 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the company |
SHOBHA CARDS
PRIVATE LIMITED |
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Presented By |
-- |
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1) Date and description of instrument creating the change |
Goods security agreement dated 21.03.2005, which was registered on dated 19.04.2005. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Total working capital facility : Rs.80.000 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 |
First charge on all present and future stocks, book debts and fixed assets of the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Repayable on demand Cash credit @ 9.25% p.a. Working capital demand loans @ 7.00% p.a. Other interest rates as per RBI mandated rates specified from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
Citibank N.A. Jeevan Vihar, 3, Sansad Marg, New Delhi-110001 |
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6) Date and brief description of instrument modifying the charge |
Deed of modification 10.06.2005 |
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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. |
Total working capital facility Rs.90.000 millions All other terms and conditions shall remain same. |
Website Details :
Subject is the leading paper trading group setting new
standards in the Indian Paper Distribution Industry. The group is the
brainchild of Mr. Ghanshyam Dass Gupta, with its registered office in
Chawri Bazar,
With over 35 years of experience in the
paper industry and quality
commitment that exudes satisfaction with the customer, the group is well known among printers, converters, publishing
houses, traders and end users. In recent years, SHOBHA CARDS
(P) LIMITED has evolved as a more dynamic,
knowledge driven organization focused towards the satisfaction of customers and
has introduced many new products based solely on the potential and instincts of
its team.
VISION AND
PHILOSOPHY
Source Globally, Distribute Locally.
Understand customer’s needs.
Understand products.
Shobha Cards and Arts
Shobha Cards
and Arts established in 1969 by Mr. Ghanshyam Dass Gupta
started the business of manufacture of greeting ,wedding & invitation cards
and printed sheets. Besides, the group involved in publication of books,
manufacturing of stationery and trading/importing of paper like Ivory Board;
Cast Coated Paper and Board; Art Paper and Board; Coloured Board; Embossed
Board; Duplex Board and many more products. In 1990's it was certified as a recognized
export house by the Government of India and undertook export of
garments, medicines, toothpaste and marine products. The group is known for its
quality, commitment, team-work and long vision in
Time Tower International (Private) Limited
Financial Highlights
Financial Highlights The group has grown to its present
position owing to its long vision, hard work and guidance. As depicted in the
graph, their group turnover has been following an increasing trend. They
sell/indent 30,000 MT paper annually".
CMT REPORT [Corruption, Money Laundering and 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.40.82 |
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1 |
Rs.81.18 |
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Euro |
1 |
Rs.54.79 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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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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 |
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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 |
|
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 |
|
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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