MIRA
INFORM REPORT
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Report Date : |
02.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BALAJI PHOTO FILMS |
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Registered Office : |
Bharani Studio Compound, 22, Arcot Road, Saligramam,
Chennai – 600093, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.01.2000 |
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IEC No.: |
0499002440 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEBO4925E |
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PAN No.: [Permanent
Account No.] |
AADFB6909L |
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Legal Form : |
Partnership concern with an unlimited liability of the
partners |
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Line of Business : |
Importer of AGFA
GEVAERT – AGFA Unexposed Sound Film |
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 30864 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed concern having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. MVNG Appa Rao |
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Designation : |
Managing Partner |
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Contact No.: |
91-9341899887 |
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Date : |
01.04.2008 |
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Name : |
Mr. T Ramesh |
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Designation : |
Partners |
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Contact No.: |
91-9381037817 |
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Date : |
01.04.2008 |
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Name : |
Mr. N. Sreedhar |
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Designation : |
Technical |
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Contact No.: |
91-9381171777 |
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Date : |
01.04.2008 |
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Name : |
Mr. NS. Murty |
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Designation : |
Finance and Accounts |
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Contact No.: |
91-9382646225 |
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Date : |
01.04.2008 |
LOCATIONS
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Registered Office : |
Bharani Studio Compound, 22, Arcot Road, Saligramam,
Chennai – 600093, Tamilnadu, India |
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Tel. No.: |
91-44-23651251 |
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Mobile No.: |
91-9341899887/ 9381171777/ 9382646225 |
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Fax No.: |
91-44-23651171/ 23650253 |
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E-Mail : |
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Area : |
13000 sq. ft. |
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Location : |
Leased |
PARTNERS
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Name : |
Mr. T. Ramesh |
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Designation : |
Partner |
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Address : |
Flat No. D and E, Ranjana Park, Bhanumathi Ramakrishna Road, Salaigraman, Chennai – 600093, India |
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Date of Birth/Age : |
23.07.1963 |
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Qualification : |
PUC |
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Experience : |
15 years |
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Name : |
Mr. M V M G Appa Rao |
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Designation : |
Partner |
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Address : |
C1-105, Raw Clusters, Lottagolahalli, Bangalore – 560094, India |
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Date of Birth/Age : |
29.09.1952 |
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Qualification : |
B.Com |
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Experience : |
15 years |
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Name : |
Mr. T Kartheeka |
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Designation : |
Partner |
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Address : |
Flat No. D and E, Ranjana Park, Bhanumathi Ramakrishna Road, Salaigraman, Chennai – 600093, India |
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Date of Birth/Age : |
08.05.1974 |
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Qualification : |
MA |
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Experience : |
10 years |
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Name : |
Mr. M P K Appa Rao |
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Designation : |
Partner |
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Address : |
C1-105, Raw Clusters, Lottagolahalli, Bangalore – 560094, India |
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Date of Birth/Age : |
04.12.1978 |
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Qualification : |
B. Tech |
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Experience : |
10 years |
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Name : |
Mr. M S K Appa Rao |
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Designation : |
Partner |
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Address : |
C1-105, Raw Clusters, Lottagolahalli, Bangalore – 560094, India |
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Date of Birth/Age : |
11.03.1980 |
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Qualification : |
BBM |
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Experience : |
10 years |
BUSINESS DETAILS
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Line of Business : |
Importer of AGFA
GEVAERT – AGFA Unexposed Sound Film |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
75 Days Open Credit |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
25 |
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Bankers : |
Kodambakkam Branch, Chennai – 600024, Tamilnadu, India
Thousand Light Branch, Whites Road, Chennai – 600014, Tamilnadu, India |
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Facilities : |
Term Loan Limit Rs.3.500 Millions, Over Draft Facility of Rs.1.000
Millions from State Bank of India |
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Banking Relations
: |
Satisfactory |
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Auditors : |
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Name : |
V S Reddy and Company Chartered Accountant |
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Address : |
No. LUZ Church Apartments, Mylapore, Chennai – 600004, Tamilnadu,
India |
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Tel. No.: |
91-44-24996241 |
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Fax No.: |
91-44-24985496 |
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E-Mail : |
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Associates/Subsidiaries : |
Balaji Colour
Laboratories
(Film Printing and Processing) B Balaji Digi
Studio No.81, Madhu Arts Studio Complex, Chikkalasandra, Uttarhali, Bangalore
– 560068, India (Film Post Production Work, Like Mixing, Dubbing and Song Recording
etc.) |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.7.716 Millions |
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Borrowed : |
- |
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Total : |
Rs.7.716 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Partners Share Capital |
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7.716 |
5.129 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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7.716 |
5.129 |
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LOAN FUNDS |
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1] Secured Loans |
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3.077 |
3.921 |
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2] Unsecured Loans |
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0.204 |
0.900 |
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TOTAL BORROWING |
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3.281 |
4.821 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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10.997 |
9.950 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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11.330 |
9.395 |
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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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0.653 |
0.230 |
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Sundry Debtors |
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3.114 |
2.722 |
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Cash & Bank Balances |
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0.222 |
0.117 |
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Other Current Assets |
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1.144 |
1.245 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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5.133 |
4.314 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.570 |
3.451 |
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Provisions |
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0.896 |
0.308 |
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Total
Current Liabilities |
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5.466 |
3.759 |
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Net Current Assets |
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(0.333) |
0.555 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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10.997 |
9.950 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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26.242 |
19.964 |
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Other Income |
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4.547 |
3.604 |
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Total Income |
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21.695 |
23.568 |
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Profit/(Loss) Before Tax |
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1.270 |
1.117 |
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Provision for Taxation |
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0.479 |
0.414 |
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Profit/(Loss) After Tax |
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0.791 |
0.703 |
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Expenditures : |
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Cost of Goods Sold |
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10.685 |
14.150 |
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Administrative and Manufacturing Expenses |
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6.312 |
5.863 |
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Depreciation |
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2.201 |
1.236 |
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Interest |
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1.227 |
1.202 |
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Other Expenditure |
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0.000 |
0.000 |
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Total Expenditure |
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20.425 |
22.451 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total
Income |
(%) |
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3.65 |
2.98 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.84 |
5.59 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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7.71 |
8.15 |
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Return on Investment (ROI) (PBT/Networth) |
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0.16 |
0.22 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.13 |
1.67 |
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Current Ratio (Current Asset/Current Liability) |
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0.94 |
1.15 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Oscar
Films-Suresh (91-9884022356)
- S.
Pictures-Siva (91-9444009192)
- Indo Overseas
Films – Ganesh (91-9884485030)
Profile:
Subject is a five-years-old company commencing from 27.10.2000. Their
business venture started by taking over the Indian Dealership of AGFA GEVAERT
NV Sound Negative, Belgium Specially for Dolby SRD and DTS Sound tracks. They
are proud to say that they have established a name for AGFA Sound in India and
increased the share of AGFA Sound from 20% to 80% in India market.
Inspired by the customer relationship they have also added few feathers
in their cap by adding a Dolby, DTS Mixing theater equipped with latest
equipment and high skilled manpower. They have also added up with Dolby, DTS
optical transfer facilities, finding the prospect in this line later on them
added three dubbing theatres and telecine facilities. All these theatres are
heavily booked throughout the year. This growth has encouraged to go for
further expansion in other parts of their country. They have started a similar
setup in Bangalore with latest equipment in 2005 and running very successfully.
This is to be proudly mentioned that, they are starting similar setups in
Kolkata and Hyderabad very shortly.
Since quality output is their
only goal they have installed a sound developing plant in their compound to
deliver the optimum results in connection with the sound tracks produced by
them. Their Ultimate aim is to produce a Turn Key solution for sound.
Further they have extended their relationship with film industry by
entering films processing and printing with international standards on the mane
of Balaji Colour Laboratories.
Balaji Colour Laboratories is a company having labs in Hyderabad,
Chennai and Bangalore. They are proud to say that they are the only lab in
south India, which uses KIT Chemistry for film processing and having a print
capacity of 100 prints a day.
Importers of Country:
Agfa Headquarters
2640 Mortsel, Belgium
Tel. No. 32-3-4442111
Fax. No. 32-3-4447094
Regional Office
Business Park E19
Battelsesteenweg 455 I
2800 Mechelen, Belgium
Tel. No. 32-3-4449444
Fax. No. 32-3-4449445
Sales
Prins Boudewijnlaan 5
2550 Kontich, Belgium
Tel. No. 32-3-4509711
Fax. No. 32-3-4509898
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.39.97 |
|
UK Pound |
1 |
Rs.79.53 |
|
Euro |
1 |
Rs.63.09 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
|
54 |
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. |
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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