MIRA
INFORM REPORT
|
Report Date : |
03.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MILLENIUM PAPIER INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
83/2, G N T Road, Near Moolakadai J Erukencherry, Chennai – 600 118, Tamilnadu, India |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
20.12.1999 |
|
|
|
|
Com. Reg. No.: |
18-43797 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U21093TN1999PTC043797 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEM06611D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACM0047Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer, Importer and Exporter of all kinds of Paper and Paper Boards. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered/Head Office/Factory : |
83/2, G N T Road, Near Moolakadai J Erukencherry, Chennai – 600 118, Tamilnadu, India |
|
Tel. No.: |
91-44-25387443/25593682/5 |
|
Fax No.: |
91-44-25368536/25595573/25248851/5 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Praveen Kumar |
|
Designation : |
Director |
|
Address : |
32, Perumal Mudali Street, Sowarpet, Chennai – 600079, Tamilnadu |
|
Date of Appointment : |
20.12.1999 |
|
|
|
|
Name : |
Ms. D Anjana |
|
Designation : |
Director |
|
Address : |
32, Perumal Mudali Street, Sowarpet, Chennai – 600079, Tamilnadu |
|
Date of Appointment : |
20.12.1999 |
|
|
|
|
Name : |
Mr. K Madhv |
|
Designation : |
Director |
|
Address : |
32, Perumal Mudali Street, Sowarpet, Chennai – 600079, Tamilnadu |
|
Date of Appointment : |
20.12.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Ms. K Mona |
330 |
|
Ms. K Priyanka |
190 |
|
Mr. K Siddarth |
730 |
|
Ms. K Surabhi |
200 |
|
Mr. M Dinesh Kumar |
4000 |
|
Ms. M Kavitha Kumari |
300 |
|
Ms. M Pinky Kumari |
2080 |
|
Mr. M Praveen Kumar |
12130 |
|
Ms. D Anjana |
9760 |
|
Ms. K Madhu |
24260 |
|
Mr. V Mohanlal Jain |
8000 |
|
Total |
61980 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of all kinds of Paper and Paper Boards. |
|
|
|
|
Products : |
v All kinds of Paper and Paper Boards |
GENERAL
INFORMATION
|
Bankers : |
The South Indian Bank Limited, George Town Branch, 64 Armenian Street,
Chennai – 600001, Tamilnadu |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Khicha & Prabu Kesavan Chartered Accountant |
|
Address : |
82 Audippa Naicken Street, 2nd Floor, Sowcarpet, Chennai –
600079, Tamilnadu |
|
|
|
|
Memberships : |
Nil |
|
|
|
|
Collaborators : |
Nil |
|
|
|
|
Associates/Subsidiaries : |
Million Papier Private Limited, Chennai 56, Narayana Mudali Street, Chennai - 600 079. India. Phone - 91-44-25387443, 25382461 Fax - 91-44-25368536 E-Mail - million@vsnl.com Mr. M. Kiran - Managing Director Million Exports, Chennai 32, Ist Floor, Perumal Mudali Street, Chennai - 600 079. Phone - 91-44-25382316, 25381158 Fax - 91-44-25368536 E-Mail - million@vsnl.com Mr. D. Natarajan - Export Executive |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/- Each |
Rs. 2.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
79980 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.799 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.799 |
0.619 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
3.491 |
1.871 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
4.290 |
2.490 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
3.476 |
3.222 |
|
|
2] Unsecured Loans |
|
20.113 |
15.902 |
|
|
TOTAL BORROWING |
|
23.589 |
19.124 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
27.879 |
21.614 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
6.559 |
6.436 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
12.034 |
7.250 |
|
|
Sundry Debtors |
|
7.728 |
8.237 |
|
|
Cash & Bank Balances |
|
1.694 |
0.530 |
|
|
Other Current Assets |
|
0.195 |
0.000 |
|
|
Loans & Advances |
|
2.322 |
4.672 |
|
Total
Current Assets |
|
23.973 |
20.689 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
3.099 |
6.480 |
|
|
Provisions |
|
0.070 |
0.024 |
|
Total
Current Liabilities |
|
3.169 |
6.504 |
|
|
Net Current Assets |
|
20.804 |
14.185 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.516 |
0.993 |
|
|
|
|
|
|
|
|
TOTAL |
|
27.879 |
21.614 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
6.23 |
10.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
7.56 |
3.18 |
LOCAL AGENCY
FURTHER INFORMATION
|
Corporate
identity number (CIN) Foreign company registration number |
U21093TN1999PTC043797 |
|
Name of the
Company |
MILLENIUM PAPIER INDIA PRIVATE LIMITED |
|
Address |
83/2, G N T Road, Near Moolakadai J Erukencherry, Chennai – 600 118, Tamilnadu, India |
|
Type of Charge |
Book Debts,
Movable Property and Floating Charge |
|
Particulars of
the charge holder |
The South Indian Bank Limited, George Town Branch, 64 Armenian Street,
Chennai – 600001, Tamilnadu |
|
Nature or
decription of the instrument |
Agreement of hypothecation |
|
Date of the
instrument creating or modifying |
16.11.2006 |
|
Amount secured by
the charge |
Rs. 11.000
Millions |
|
Brief of the
principal terms and conditions |
Rate of Interest
– BPLR – 2.5% with monthly rests. Presently 11% Term of Repayment
– Repayable on demand Margin –
Inland/Foreign LC Limit – 15% Extent and
operation of the charge – as per the agreement executed on 16.11.2006 Others – all
other terms and conditions – 16.11.2006 |
|
Short particulars
of the property charged |
Hypothecation by
way of first charge in favour of the bank All fixed assets
of the company including present and future All current
assets of the company including stocks and book debts both present and
future |
|
Particular of the
present modification |
By the
modification The credit
facilities enjoyed by the company has been modified from Rs. 11.900 to Rs.
11.000 Millions |
As Per Web Details
Profile
Millennium Papier (India) Private Limited, managed by Million Group, a 125 years old group doing the Business in Import, Export and Manufacturing. The Group of companies importing and dealing in all kinds of High grade coated and uncoated Paper, Paper Board like Art Paper, Art Card Board, cast coated Paper, Paper Board, Ivory Board, One side coated duplex Board for packaging, Taffeta and satin ribbon for garment Tag industries, hot stamping foils etc and having the manufacturing facilities for producing the international class of Self Adhesive Label stock Products with face stock of like all verities of Paper (Art Paper, Chromo Paper, Mirror coated Paper, Thermal Transfer Paper, Direct Thermal Transfer Paper, Flourocent Paper, Vellum Paper, Wood free Paper, Map litho Paper etc and film like top coated BOPP, Polyster, PVC, Vnyl film, clear no look labels etc. producing it own release Liner with the imported chemistry and Machineries for producing Platinum Base Solvent less silicone coated Glassine, SCK, CCK, BOPP, Polyster Base silicone coated liner.
Their manufacturing facilities brought India’s first WIDER WIDTH Hot Melt
Coating system to produce IN Wider width of Label stock Products and silicone
coated Products. The group, keeping current international trend in mind, have
planed to expand the activities by installing 1500 mm Hot Melt coater, 1500mm
Solvent less silicone coater, 1500 mm PE Coater to produce largest width of
various kind and combination of this kind of product in India to cater India
market as well as international market. The New plant with the above facilities
will be in stream by first quarter of 2006 and with this expansion, the group
will be one of the biggest producers of the above products and lead the
industry at par with international player in this kind of business. The group,
also produce
Self Adhesive die cut labels for Bar code, computer labels, product labels,
security labels, textiles labels, tags, Specialty self adhesive tapes/ribbon,
Blank Business cards/visiting card, Thermal coated ECG Chart and recording
Paper, ATM Machine rolls, toll collection rolls, all kinds of Medical Paper for
keeping investigation records. The group also deals in Thermal Transfer ribbon,
Bar code printing Machines, Bar code Printers Head etc.
Millennium Papier (India) Private Limited- manufacturers of various kinds of paper products like visiting cards, Self Adhesive Label Stock, Medical Products, business stationery, self adhesive labels and thermal transfer ribbon. specialist in silicon coated release liner, hot melt and acrylic water base self-adhesive labels stocks paper/films. Established in 1880, it is a family oriented professionally managed company.
For the last 45 years, it has been active in the paper industry. The group
started manufacturing various paper products in 1980. of late, it has ventured
into producing release liner, adhesive related products and various kinds of
labels stock paper/film. It also enjoys the privilege of being one of the
pioneer companies to manufacture labels stock in South India.
One of the fastest growing labels stock and adhesive product producer in India,
Millennium Papier has achieved an almost 200% growth rate in the last financial
year. It has set an ambitious growth target of another 200% this year. Over the
years, the company has established itself as very reliable supplier to the
labeling industries. Their marketing strength, strong application and extensive
distribution network ensures quick response time.
Today, Millennium Papier is one of the largest coating companies in India, with
the expertise to coat various kinds of silicon systems and varieties of
emulsion-based adhesives. It has recently acquired the Nordsons 5050 hot melt
coater with wider coating capacity to offer defect free high quality hot melt
adhesive labels stock. It has also installed the latest high speed label
printing machine to print 4 to 6 colors, with on-line UV curing systems, die
cut, hot stamping foil, lamination and synchronized computer sprocket punching
mechanism.
Millennium offers a wide range of label stock product like uncoated woodfree, vellum, maplitho, semi gloss, chromo art, cast coated (mirror coated), thermal transfer, direct thermal transfer, fluorescent, polyester BOPP, PVC, cloth, satin, taffeta, wet strength semi gloss and cast coated gloss with various combinations of release liner and adhesives like permanent, removable , stain free , frozen etc.
The winners will be those who have the right product, at the right time, at the
right place," says Mr.M.Kiran, CEO. "Theirs is one of the leading
manufacturing company to offer a wide variety of products under the same
roof," he adds.
At Millennium, each customer is attached to its customers care team to ensure
total satisfaction with regards to supply, quality, price and after-sales
service. "With such a wide and innovative range of products and efficient
after sales service, they have something for all budgets and all
requirements," add Mr.Kiran.
Products:
v All kinds of Coated paper
v Coated Paper Board
v Packaging Board
v Label Stock Products
v Platinum Solventless Release Liner
v Self Adhesive Labels
v Bar Code Ribbon
v Business Cards
v Visiting Cards
v Taffeta and Satin Ribbon
v Bar Code Labels and Accessories
Infrastructure
Millennium Paper India Private LIMITED is a privately owned company currently operates from modern factory and office facilities, situate on Northern Part of Chennai, India just around 5 KM from Chennai Central Railway Station. Having its own administration and manufacturing activities in the same campus.
Giving you the best product is simply not possible without the best equipment.
They are proud to use modern, state-of-the-art fully automated programmatic
paper manufacturing machines for the production of their products.
In an attempt to meet the needs arising from rapid developments in the field of new technologies, the company has already proceeded to full computerization of administrative services.
The Millennium Papier India Private LIMITED has installed 2 solvent Base
Coating System to produce tin / platinum coated silicon release liner, water
base / solvent base label stock product and 1 one hot melt adhesive coating
systems of wide coating width imported from USA to produce world class defect
free label stock product and various kind of tape product It's the first bigger
coating width plant in India installed successfully.
The Company has the other ancillary machinery to produce different kinds of paper product.
They are:
1) 4 nos. Paper Cutting / slitting Machine.
2) 3 fully automatic Programmatic Paper cutting Machine Imported from Germany.
3) Fully Automatic self adhesive Label Printing Machine.
All the machines are installed in their own modern freehold factory; the entire workforce is geared to producing quality products with fast customer service. The Workforce of the Company is around 40 people's with 10 skill staffs to look after day to day management.
The Millennium Papier India Private Limited is working in partnership with
suppliers and customers, with the objective of continuous improvement of
quality.
Group Profile
Million Papier
(Private) Limited
Million Papier (Private) Limited, managed by its Chairman
Mr.V.Mohanlal Jain, Managing Director Mr.M.Kiran and M.Dinesh
Million now imports and/or distributes all kinds of products, raw materials and
specially imports of Fine Paper , Paper Board, Coated & Un-Coated Wood Free
Paper, Thermal Paper, Label Paper, Thermal transfer ribbon & Medical
Products. Increasingly, their clients are thinking and acting globally.
These items are receiving a good response and it is expected that there will be
strong growth in the years to come.
Million is backed by technically qualified people and first hand feedback from
the clients they service, helping us to be competitive, effective and mostly
practical in their approach.
Million welcomes the questions on the above information and hopes to serve the
requirements as time goes on.
Million Exports
Million Exports is a group concern of Million, incorporated in 1980 with the intention of being a merchant Exporters of various merchant products and raw materials. They start exports to a limited overseas market like Maldives, Dubai, Mauritius, etc. Now their experience spread their growth to the entire world.
They believe in giving the very best to their customers and to make this
happen. They have a team of dedicated professionals who have complete knowledge
of all their products. As they grow, they intend to maintain their strength
while providing their clients with the most efficient and consistent service
whatever the business, wherever you are.
They make sure their customers is served with honesty and efficiency, they do
believe in building a long- term relation with their customers.
They are aligned with a large number of small and medium scale associate members to meet the varied requirements of their international clients.
Being a Merchant Exporters they represent various reputed companies from India
and world over. Continuing with their commitment to provide a wide range of
products of international quality standards. Thus making them globally
competitive anywhere. It is the quality of service that makes a difference in
today's fast changing world .They export to the company source of all kind of
goods for international buyer as per their requirement and currently having
more than 100 satisfied customers / buyer from all around the world
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.44.49 |
|
UK Pound |
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.58.53 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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 |
|