MIRA
INFORM REPORT
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Report Date : |
25.05.2007 |
IDENTIFICATION DETAILS
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Name : |
MILLENIUM PAPIER INDIA PRIVATE LIMITED |
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Registered Office : |
83/2, G |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.12.1999 |
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Com. Reg. No.: |
18-43797 |
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CIN No.: [Company
Identification No.] |
U21093TN1999PTC043797 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEM06611D |
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PAN No.: [Permanent
Account No.] |
AAACM0047Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Importer and Exporter of all kinds of Paper and Paper Boards. |
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 17000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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
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Registered/Head Office/Factory : |
83/2, G |
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Tel. No.: |
91-44-25387443 / 25593682 / 83 / 85 |
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Fax No.: |
91-44-25368536 / 25595573 / 25248851 / 5 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Praveen Kumar |
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Designation : |
Director |
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Address : |
32, |
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Date of Appointment : |
20.12.1999 |
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Name : |
Ms. D Anjana |
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Designation : |
Director |
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Address : |
32, |
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Date of Appointment : |
20.12.1999 |
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Name : |
Mr. K Madhv |
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Designation : |
Director |
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Address : |
32, |
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Date of Appointment : |
20.12.1999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Ms. K Mona |
330 |
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Ms. K Priyanka |
190 |
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Mr. K Siddarth |
730 |
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Ms. K Surabhi |
200 |
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Mr. M Dinesh Kumar |
4000 |
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Ms. M Kavitha Kumari |
300 |
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Ms. M Pinky Kumari |
2080 |
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Mr. M Praveen Kumar |
12130 |
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Ms. D Anjana |
9760 |
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Ms. K Madhu |
24260 |
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Mr. V Mohanlal Jain |
8000 |
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Total |
61980 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Importer and Exporter of all kinds of Paper and Paper Boards. |
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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 |
GENERAL INFORMATION
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No. of Employees |
About 40 |
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Bankers : |
v
The South Indian Bank Limited, v
ICICI Bank |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Khicha & Prabu Kesavan Chartered Accountant |
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Address : |
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Associates/Subsidiaries : |
Million Papier Private Limited, Chennai 56, 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, Phone - 91-44-25382316, 25381158 Fax - 91-44-25368536 E-Mail - million@vsnl.com Mr. D. Natarajan - Export Executive |
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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79980 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.799 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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0.799 |
0.619 |
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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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3.491 |
1.871 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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4.290 |
2.490 |
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LOAN FUNDS |
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1] Secured Loans |
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3.476 |
3.222 |
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2] Unsecured Loans |
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20.113 |
15.902 |
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TOTAL BORROWING |
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23.589 |
19.124 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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27.879 |
21.614 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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6.559 |
6.436 |
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Capital work-in-progress |
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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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12.034 |
7.250 |
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Sundry Debtors |
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7.728 |
8.237 |
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Cash & Bank Balances |
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1.694 |
0.530 |
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Other Current Assets |
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0.195 |
0.000 |
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Loans & Advances |
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2.322 |
4.672 |
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Total
Current Assets |
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23.973 |
20.689 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.099 |
6.480 |
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Provisions |
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0.070 |
0.024 |
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Total
Current Liabilities |
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3.169 |
6.504 |
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Net Current Assets |
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20.804 |
14.185 |
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MISCELLANEOUS EXPENSES |
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0.516 |
0.993 |
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TOTAL |
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27.879 |
21.614 |
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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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34.253 |
32.462 |
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Total Income |
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34.253 |
32.462 |
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Profit/(Loss) Before Tax |
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0.548 |
0.447 |
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Provision for Taxation |
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0.071 |
0.024 |
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Profit/(Loss) After Tax |
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0.477 |
0.423 |
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Imports : |
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Others |
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20.810 |
12.660 |
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Total Imports |
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20.810 |
12.660 |
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Expenditures : |
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Other Expenditure |
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33.705 |
32.015 |
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Total Expenditure |
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33.705 |
32.015 |
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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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1.39 |
1.30 |
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Net Profit Margin (PBT/Sales) |
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1.59 |
1.37 |
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Return on Total Assets (PBT/Total Assets} |
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1.79 |
1.64 |
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Return on Investment (ROI) (PBT/Networth) |
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0.12 |
0.17 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.23 |
10.29 |
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Current Ratio (Current Asset/Current Liability) |
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7.56 |
3.18 |
LOCAL AGENCY FURTHER INFORMATION
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Corporate
identity number (CIN) Foreign company registration number |
U21093TN1999PTC043797 |
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Name of the
Company |
MILLENIUM PAPIER INDIA PRIVATE LIMITED |
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Address |
83/2, G |
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Type of Charge |
Book Debts, Movable
Property and Floating Charge |
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Particulars of
the charge holder |
The South Indian Bank Limited, |
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Nature or
decription of the instrument |
Agreement of hypothecation |
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Date of the
instrument creating or modifying |
16.11.2006 |
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Amount secured by
the charge |
Rs. 11.000
Millions |
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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 |
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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 |
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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
Subject, 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
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.
Subject- 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
One of the fastest growing labels stock and adhesive product producer in
Subject is one of the largest coating companies in
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.
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
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
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
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.40.60 |
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1 |
Rs.80.65 |
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Euro |
1 |
Rs.54.55 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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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 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
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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 |
|
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 |
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