MIRA
INFORM REPORT
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Report Date : |
08.10.2007 |
IDENTIFICATION DETAILS
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Name : |
AGA PUBLICATIONS PRIVATE LIMITED |
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Registered Office : |
4-3-352, |
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Country : |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
18.12.1992 |
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Com. Reg. No.: |
015149 |
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CIN No.: [Company
Identification No.] |
U22110AP1992PTC015149 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in printing, publishing and circulating
or otherwise dealing in any daily, weekly, fortnightly or monthly newspapers,
magazines, periodicals, journals, books of all kinds of other publications |
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. |
Small |
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Maximum Credit Limit : |
USD 514200 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Though subject is a pretty old company, it seems to be passing through
difficult times. The company has not filed any financial, after 2003 with the
government registry. The management remained non - cooperative. As per last
financial of 31.03.2003, the company had some accumulated losses. Payments
are reported to be slow and delayed. The company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
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Registered Office 1 : |
4-3-352, |
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Tel. No.: |
91-40-24756660 / 61 / 62 |
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Fax No.: |
91-40-24756755 |
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Area : |
Owned |
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Location : |
29000sq.fts |
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Registered Office 2 : |
396, Vaartha, |
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E – Mail : |
DIRECTORS
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Name : |
Mr. Girish Sanghi |
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Designation : |
Director |
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Address : |
Sanghi Nagar Post, Hayath Nagar, Mandal, Dist: Ranga Reddy – 501511,
Andhra Pradesh |
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Date of Birth/Age : |
08.03.1955 |
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Date of Appointment : |
15.11.1994 |
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Name : |
Mr. Sudhir Sanghi |
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Designation : |
Director |
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Address : |
Shweth Kamal, 8-2-686 / |
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Date of Birth/Age : |
15.12.1950 |
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Date of Appointment : |
15.11.1994 |
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Name : |
Mrs. Alka Sanghi |
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Designation : |
Director |
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Address : |
Sanghi Nagar Post, Hayath Nagar, Mandal, Dist: Ranga Reddy – 501511,
Andhra Pradesh |
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Date of Birth/Age : |
10.02.1961 |
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Date of Appointment : |
05.10.1996 |
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Name : |
Mr. Gaurav Sanghi |
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Designation : |
Director |
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Address : |
Sanghi Nagar Post, Hayath Nagar, Mandal, Dist: Ranga Reddy – 501511,
Andhra Pradesh |
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Date of Birth/Age : |
23.04.1985 |
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Date of Appointment : |
28.08.2006 |
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E-Mail : |
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Tel No.: |
91-8415-242216 |
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Fax No.: |
91-8415-242239 |
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
Sanghi Nagar Post, Hayath Nagar, Mandal, Dist: Ranga Reddy – 501511,
Andhra Pradesh |
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Date of Appointment : |
15.03.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. ABK Prasad |
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9 |
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Mr. N. Chandrashekar |
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9 |
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Mr. A. Kumaraswamy |
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9 |
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Mr. G. Bhageeradha |
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9 |
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Mrs. A. Sudha Rani |
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9 |
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Mr. Y.K. Babu |
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9 |
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Mr. D. Sreenivasa Rao |
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9 |
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Category |
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Percentage of
Holding |
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Directors or Relatives of Directors |
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100.000 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in printing, publishing and circulating
or otherwise dealing in any daily, weekly, fortnightly or monthly newspapers,
magazines, periodicals, journals, books of all kinds of other publications |
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GENERAL INFORMATION
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Bankers : |
Ř Canara Bank, Ř Centurion Bank Ř
Syndicate Bank, Industrial Finance Branch,
Khairatabad, Ř Laxmi Vilas Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sunil Shahapurkar and Company Chartered Accountants |
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Address : |
D, 4 Banjara View Apartments, Road No 12, Banjara Hills, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000 |
Equity Shares |
Rs.10/- each |
Rs.0.020
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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121.600 |
155.000 |
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2] Share Application Money |
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18.032 |
18.032 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(11.082) |
(37.783) |
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NETWORTH |
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128.550 |
135.249 |
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LOAN FUNDS |
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1] Secured Loans |
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86.223 |
157.541 |
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2] Unsecured Loans |
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255.719 |
208.308 |
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TOTAL BORROWING |
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341.942 |
365.849 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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470.492 |
501.098 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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450.856 |
426.345 |
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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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Sundry Debtors |
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Cash & Bank Balances |
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Other Current Assets |
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233.735 |
217.882 |
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Loans & Advances |
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Total
Current Assets |
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233.735 |
217.882 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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214.112 |
143.146 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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214.112 |
143.146 |
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Net Current Assets |
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19.623 |
74.736 |
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MISCELLANEOUS EXPENSES |
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0.013 |
0.017 |
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TOTAL |
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470.492 |
501.098 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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Sales Turnover (including other income) |
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877.303 |
732.528 |
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Profit/(Loss) Before Tax |
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26.701 |
18.959 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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26.701 |
18.959 |
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Expenditures : |
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Total Expenditure |
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850.602 |
713.569 |
KEY RATIOS
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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PAT / Total Income |
(%) |
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3.04 |
2.58 |
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Net Profit Margin (PBT/Sales) |
(%) |
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3.04 |
2.58 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.90 |
2.94 |
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Return on Investment (ROI) (PBT/Networth) |
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0.20 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.66 |
1.05 |
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Current Ratio (Current Asset/Current Liability) |
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1.09 |
1.52 |
LOCAL AGENCY FURTHER INFORMATION
Form 8:
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Name of the company |
AGA PUBLICATIONS
LIMITED |
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Presented
By |
Mr. Sudhir
Sanghi, Director |
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1) Date and description of instrument creating the change |
17.04.1996 Hypothecation of
goods and monies receivable etc. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Working capital
limits as detailed below: 1. SODH limit of
Rs.14.000 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 |
Charged on
Current Assets, New Print, Printing Materials, Chemicals and Machinery
products |
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4) Gist of the terms and conditions and extent and operation of the charge. |
SODH Limit of
Rs.14.000 millions Rate of Interest
– 19.00% Margin – 25% |
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5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank Industrial
Finance Branch, Khairatabad, |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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 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.39.49 |
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1 |
Rs.80.41 |
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Euro |
1 |
Rs.55.76 |
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 |
4 |
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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 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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30 |
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
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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 |
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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 |
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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. |
Small |
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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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