MIRA
INFORM REPORT
|
Report Date : |
20.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
MEHTA
PRINT ARTS PRIVATE LIMITED |
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Registered Office : |
A –
39, Ring Road market, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.04.1988 |
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Com. Reg. No.: |
55-31243
of 1988 – 89 |
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CIN No.: |
U74899DL1988PTC031243 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM10657D |
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IEC No.: |
0594061121 |
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PAN No.: [Permanent
Account No.] |
AAACM2065J |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter, Printing and Distribution of Public Issue Stationery,
Cheque Books, Stationery, etc. |
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
125000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Slow
but correct |
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Litigation : |
Clear |
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Comments : |
Subject
is an established company having satisfactory track. Trade relations are
fair. Profit margin is under severe pressure. Payments are reported as slow
but correct. The
company can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office: |
A –
39, Ring Road market, |
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Mobile No.: |
91-9810152974 |
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E-Mail : |
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Area |
200
Sq. ft |
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Location |
Leased
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Office : |
B – 4/158,
Safdarjung Enclave, |
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Mobile No.: |
91-9810152974/
9810152502/ 9810533146/ 9810611967/ 9910188822 |
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E-Mail : |
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Website : |
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Location : |
Residential
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Factory
2 : |
15/1, Milestone, |
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Tel.
No.: |
91-124-2346477/2346489/
2345619 |
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Mobile No.: |
91-9810434357/
9810152974 |
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Fax
No.: |
91-124-2345618/4106977 |
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Area |
8000
Sq. ft |
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Location : |
Leased
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DIRECTORS
|
Name : |
Mr.
Subhash Mehta |
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Designation : |
Managing
Director |
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Address : |
6/13J,
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Date of Birth/Age : |
27.10.1945 |
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Qualification : |
B. Com
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Experience : |
38
Years |
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Date of Appointment : |
07.04.1988 |
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Name : |
Mr
Sudhir Mehta |
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Designation : |
Director |
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Address : |
6/13J,
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Date of Birth/Age : |
04.04.1951 |
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Qualification : |
Diploma
in Mechanical Engineer |
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Experience : |
35
Years |
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Date of Appointment : |
07.04.1988 |
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Name : |
Mr
Sudesh Mehta |
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Designation : |
Director |
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Address : |
6/13J,
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Date of Birth/Age : |
10.09.1954 |
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Qualification : |
Graduate
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Experience : |
33
Yeas |
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Date of Appointment : |
07.04.1988 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Subhash Mehta |
6500 |
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Mr.
Sudhir Mehta |
8000 |
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Mr.
Sudesh Mehta |
4000 |
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Ms.
Veena Mehta |
4000 |
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Ms.
Anju Mehta |
4000 |
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Mr.
Sumat Mehta |
4250 |
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Mr.
Sameer Mehta |
4250 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter, Printing and Distribution of Public Issue Stationery,
Cheque Books, Stationery, etc. |
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Products : |
Machine Made Envelopes (C4, A4,
C5, C6, DL, Wage Envelope, Dinner Money Envelope, Board Envelopes, Duke
Envelopes, CD Envelopes) Duplicate Books Invoice Books Order Books Raffle/ Cloakroom Ticket Books Bingo Tickets Pads/Envelopes/Pen/Pencil sets Packing Wrap Sets Colouring Books for Children Multi Coloured Activity Paper
Sets Reporters Note Books Artists Sketch Pad – Multi
coloured Bingo Ticket Boards Note Books Writing Pads Drawing Sheet Pads Fluorescent Sheet Pads Packing Rolls Cheque Books AGM Notices Computer Stationery |
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Exports to : |
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Imports from : |
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Terms : |
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Selling : |
Credit
(30 to 60 days) |
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Purchasing : |
L/C
& Credit (30 days) |
PRODUCTION
STATUS
|
Particulars |
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Installed Capacity |
Actual Production |
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Envelopes |
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400000 per day |
60% |
GENERAL INFORMATION
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No. of Employees : |
21
(Office – 27, Factory – 14) |
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Bankers : |
Ř Standard Chartered Bank, 10,
Sansad Marg, Ř Standard Chartered Bank, Ř
Canara Bank, |
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Facilities : |
-- |
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Banking Relations : |
Unknown
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Auditors : |
S K
Mehta & Company Chartered
Accountant |
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Address: |
2682, Gali No.2, Beadonpura, |
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Tel. No.: |
91-11-2572 5156, 2574 3879 |
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Fax No.: |
91-11-2576 1279 |
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E-Mail : |
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Associates/Subsidiaries/ Joint Ventures: |
Vandana Printing Works Private Limited |
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Address: |
15/1, Milestone, |
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Date of Incorporation : |
04.05.1993 |
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Legal Form : |
Private
Limited Company |
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Paid-up Capital: |
Rs.
2.003 Millions |
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Line of Business : |
Printing of Public Issues, Posters, Calendars,
Magazines, Security Printers, Envelope Manufacturing |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50000 |
Equity
Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
27.725 |
7.019 |
5.663 |
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NETWORTH |
32.725 |
12.019 |
10.663 |
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LOAN FUNDS |
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1] Secured Loans |
4.643 |
7.105 |
4.887 |
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2] Unsecured Loans |
4.858 |
7.073 |
6.778 |
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TOTAL BORROWING |
9.501 |
14.178 |
11.665 |
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DEFERRED TAX LIABILITIES |
1.620 |
1.406 |
1.538 |
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TOTAL |
43.846 |
27.603 |
23.866 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.284 |
13.333 |
7.068 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.392 |
0.393 |
0.392 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
14.152
|
3.062 |
7.482 |
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Sundry Debtors |
40.440
|
30.080 |
13.846 |
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Cash & Bank Balances |
8.026
|
2.371 |
0.686 |
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Other Current Assets |
5.497
|
1.461 |
0.000 |
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Loans & Advances |
6.006
|
1.735 |
1.703 |
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Total Current Assets |
74.121
|
38.709 |
23.717 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
40.401
|
24.282 |
7.245 |
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Provisions |
11.550
|
0.550 |
0.066 |
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Total Current Liabilities |
51.951
|
24.832 |
7.311 |
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Net Current Assets |
22.170
|
13.877 |
16.406 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
43.846 |
27.603 |
23.866 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
194.793 |
72.111 |
18.607 |
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Profit/(Loss)
Before Tax |
32.085 |
2.439 |
0.859 |
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Provision
for Taxation |
11.000 |
0.550 |
0.447 |
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Profit/(Loss)
After Tax |
21.085 |
1.889 |
0.412 |
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Import
Value |
8.830 |
0.587 |
0.277 |
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Export
Value |
17.121 |
22.214 |
3.399 |
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Total
Expenditure |
162.708 |
70.222 |
16.517 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
10.82
|
2.21 |
(2.48) |
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Net
Profit Margin (PBT/Sales) |
(%) |
16.47
|
4.61 |
(3.91) |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
33.63
|
2.76 |
(5.72) |
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Return
on Investment (ROI) (PBT/Networth) |
|
0.98
|
0.08 |
(0.14) |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
1.87
|
1.78 |
1.37 |
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Current
Ratio (Current
Asset/Current Liability) |
|
1.42
|
3.24 |
2.32 |
LOCAL AGENCY FURTHER INFORMATION
Subject reportedly imports printing inks and stationery items.
Subject reportedly exports
booklet, open-end and peel-and-seal envelopes, including seal gum, side-seam,
conventional remoisten able flaps, bottom flap and window applications to
Trade References
Jaiprakash Associates Limited
J A House, Basant Lok, Vasant Vihar,
Mr. Harish Vaid
Raj Dealers & Distributors
4/14 A,
Mr. Rahesh Banaor
Forbo Swiff Adlesives Limited
Bridge Street, Cattenis
Ackerman Group PLC,
Tallon International Limited
177,
Mid Lanks, EVI, 434,
AS PER WEBSITE:
Profile
Mehta Print
Arts Private Limited as it has evolved today is the culmination of 39 years of
tireless quest for excellence after millions of print impressions and an equal
number of improvements. They have been engaged in printing and
distribution of Public Issue stationery since 1980; and has till date printed
and distributed stationery for over 1000 issues, including, Public Issue,
Rights Issues and Book building Issues of both Corporate and Public Sector
organizations.
A
sister concern, Vandana Printing Works Private Limited. earned the coveted
status of security printers from Reserve Bank of
As they
grew in size and dimension, the group earned goodwill and reputation for
offering world class service to its valuable customers. They have consistently
been ranked No. 1 for IPO Stationery in
EXPORTS
Taking
advantage of the fact that gradually the developing countries had been shedding
the manufacturing of simple technology or labour intensified products,
including stationery products, they decided to diversify into the exports of
stationery/ paper related products in 2003 in order to widen their sphere of
activity.
Keeping
in mind a keen global focus, they follow all the parameters of quality and
production which are of utmost importance to the printing and packaging
industry.
Today, Exports is a substantial and growing business that
adds to the company's turnover.
With the help of the state-of-the-art equipment &
machinery and integrated services, trained personnel and globally
recognized quality standards, they have been exporting to various European
markets. They are now concentrating on developing new markets for their product
range. They can work out the requirements of their customers to give them a
range of stationery/ paper related products.
THEIR EXPERTISE - ENVELOPE MANUFACTURING
Manufacturing Envelopes is yet another service they offer to
their clients. As one of the largest envelope manufacturers in
With the deluge of direct marketing tools being used the
world over; innumerous Direct Mailers are sent in different directions every
hour. Handling such a huge job requires automated mailing systems which in turn
needs envelopes suitable to run on these systems. Having realized this, they
worked tirelessly with
Today, they have achieved an unmatched perfection level
which has reduced the wastage of raw material to practically negligible,
increased productivity and finally resulted in tremendous cost savings.
The automated systems help in maximizing manufacturing
performance for booklet, open-end and peel-and-seal envelopes, including seal
gum, side-seam, conventional remoistenable flaps, bottom flap and window
applications etc. The adhesive that they use for envelope making meets the Food
& Drug Administration (FDA),
PRODUCTS FOR INTERNATIONAL MARKET
- Machine Made Envelopes (C4, A4, C5, C6, DL,
Wage Envelope, Dinner Money Envelope, Board Envelopes, Duke Envelopes, CD
Envelopes)
- Duplicate Books
- Invoice Books
- Order Books
- Raffle/ Cloakroom Ticket Books
- Bingo Tickets
- Pads/Envelopes/Pen/Pencil sets
- Packing Wrap Sets
- Coloring Books for Children
- Multi Colored Activity Paper Sets
- Reporters Note Books
- Artists Sketch Pad – Multi colored
- Bingo Ticket Boards
- Note Books
- Writing Pads
- Drawing Sheet Pads
- Fluorescent Sheet Pads
- Packing Rolls
For the
Domestic Market
- Fixed
Deposit Receipts
- Refund/
Interest/ Dividend Warrants, etc.
- Cheque
Books
- Annual
Reports & related stationery, e.g. Proxy/ Attendance Slip, EGM/AGM
Notices
- Company’s
Brochures / Profiles and Posters
- Computer
Stationery in single part, multi part both plain and pre
- printed
in multicolours with carbon and carbonless paper
- Window
and plain envelopes of various types and styles in re-moistenable flap
gumming, peel & seal and self-seal latex flap gumming.
Their
envelopes have successfully been used on auto insertion system.
- Railway
Tickets in roll & book form
- Bus
Tickets in continuous computer stationery & book form
- OMR
Answer Sheets
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts,
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.39.87 |
|
|
1 |
Rs.80.11 |
|
Euro |
1 |
Rs.56.19 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
39 |
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 |
|