MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SMARF TECH DIVISION OF ANIL PRINTERS LIMITED |
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Registered Office : |
502, Diamond Arch Street, John Bantista Road, Bandra [West], Mumbai
422010, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
11.01.1983 |
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Com. Reg. No.: |
11-029081 |
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CIN No.: [Company
Identification No.] |
U22212MH1983PTC029081 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Supplier of quality Continuous Computer Stationer
paper, Pre-paid Cards, Railway Tickets, MICR Cheques, ATM PIN Mailers,
Deposit Envelopes, Deposit Slips, ATM Rolls, India Telephone Cards (VCC),
Airlines Tickets, Boarding Pass, Cargo Manifesto in carbonless paper. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 390884 |
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Status : |
Good |
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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 company having satisfactory
track records. Trade relations are
fair. Business is active. Payments are reported as usually correct
and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
502, Diamond Arch Street, John Bantista Road, Bandra [West], Mumbai
422010, Maharashtra, India |
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E-Mail : |
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Website : |
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SMARF Tech [Division]/ Head Office : |
B-30, MIDC Area, Ambad, Nashik 422 010, Maharashtra, India |
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Tel. No.: |
91-253- 2382388/ Ext. 255 |
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Fax No.: |
91-253-2382488 |
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Mobile No. : |
91-9326735225 |
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Development Office : |
NSIC (National Small
Industrial Corporation Ltd) NSIC-IT NCUBATOR Module No-2, Okhla, New Delhi –
110020, India |
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Tel. No.: |
91-11-26927232 |
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Fax No.: |
91-11-26926854 |
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Branch Office : |
2, Kakad Industrial
Estate, L.J. Cross Road No.3 Matunga (W), Mumbai 400016, Maharashtra,
India |
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Tel. No.: |
91-22-24371828 |
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Fax No.: |
91-22-24373112 |
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E-mail: |
DIRECTORS
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Name : |
Mr. Akash Ashokka Agarwal |
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Designation : |
Director |
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Address : |
Akash Bunglow ME 38, Megha Sector Sunderban Colony, CIDCO, Nasik
422009, Maharashtra, India |
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Date of Birth/Age : |
15.06.1985 |
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Date of Appointment : |
03.01.2006 |
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Name : |
Mr. Ashokka Satyararayan Agarwal |
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Designation : |
Director |
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Address : |
Akash Bunglow ME 38, Megha Sector Sunderban Colony, CIDCO, Nasik 422009,
Maharashtra, India |
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Date of Birth/Age : |
05.12.1951 |
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Date of Appointment : |
11.01.1983 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Equity Share
Break-up |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of quality Continuous Computer Stationer
paper, Pre-paid Cards, Railway Tickets, MICR Cheques, ATM PIN Mailers,
Deposit Envelopes, Deposit Slips, ATM Rolls, India Telephone Cards (VCC),
Airlines Tickets, Boarding Pass, Cargo Manifesto in carbonless paper. |
GENERAL
INFORMATION
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Customers : |
Government Sector:
Corporate Sector
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Shashank Manerikar and Company Chartered Accountants |
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Address : |
F – 10, Silver Plaza, Canara Corner, Sharanpur Road, Nashik 422002,
Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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264950 |
Equity Shares |
Rs.10/- each
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Rs.2.649
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.650 |
2.650 |
2.650 |
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2] Share Application Money |
1.351 |
0.000 |
0.000 |
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3] Reserves & Surplus |
93.720 |
43.968 |
29.439 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
97.721 |
46.618 |
32.089 |
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LOAN FUNDS |
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1] Secured Loans |
24.699 |
10.142 |
6.659 |
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2] Unsecured Loans |
0.176 |
1.256 |
2.902 |
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TOTAL BORROWING |
24.875 |
11.398 |
9.561 |
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DEFERRED TAX LIABILITIES |
3.437 |
0.000 |
0.000 |
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TOTAL |
126.033 |
58.016 |
41.650 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
59.642 |
32.839 |
23.116 |
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Capital work-in-progress |
0.000 |
1.034 |
0.000 |
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INVESTMENT |
2.503 |
0.002 |
0.003 |
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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 |
5.482
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4.649 |
1.932 |
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Sundry Debtors |
37.163
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36.861 |
23.088 |
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Cash & Bank Balances |
3.203
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2.764 |
2.343 |
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Other Current Assets |
21.947
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9.863 |
4.424 |
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Loans & Advances |
35.105
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9.159 |
4.281 |
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Total
Current Assets |
102.900
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63.296 |
36.068 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
19.953
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29.253 |
17.537 |
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Provisions |
19.059
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9.902 |
0.000 |
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Total
Current Liabilities |
39.012
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39.155 |
17.537 |
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Net Current Assets |
63.888
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24.141 |
18.531 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
126.033 |
58.016 |
41.650 |
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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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156.154 |
88.774 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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156.154 |
88.774 |
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Profit/(Loss) Before Tax |
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26.987 |
14.478 |
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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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26.987 |
14.478 |
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Export Value |
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1.966 |
0.000 |
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Expenditures : |
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Interests |
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1.011 |
1.037 |
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Depreciation |
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5.952 |
3.324 |
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Other Expenditure |
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122.204 |
69.935 |
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Total Expenditure |
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129.167 |
74.296 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
NA
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17.28 |
16.31 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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17.28 |
16.31 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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31.19 |
24.46 |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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0.58 |
0.45 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.65
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1.08 |
0.84 |
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Current Ratio (Current Asset/Current Liability) |
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2.63
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1.61 |
2.05 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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This Form is for |
Creation of charge |
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Corporate
identity number of the company |
U22212MH1983PTC029081 |
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Name of the
company |
ANIL PRINTERS
LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
502, Diamond Arch Street, John Bantista Road, Bandra [West], Mumbai
422010, Maharashtra, India |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
3i Infotech
Trusteeship Services Limited 3rd to
6th floor, International Infotech Park, Tower No. 5, Vashi Railway
Station Complex, Vashi 400703, Navi Mumbai, Maharashtra, India E-mail: prashant.joshi@3i-itsl.com |
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Nature of
description of the instrument creating or modifying the charge |
Mortgage
declaration |
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Date of
instrument Creating the charge |
08.02.2008 |
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Amount secured by
the charge |
Rs. 60.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
The interest rate
stipulated by ICICI Bank shall be 3.25% per annum over below the sum of I-BAR
and the cash credit risk premium prevailing on each day, plus applicable
interest tax or other statutory levy, if any, on the principal amount of the
loan remains outstanding each day.
I-BAR as on date is 13.0% p.a. rate of interest is subject to revision
from time to time. [b] Margin Inventory:
Uniform margin of 25% against all components of inventory. Book Debts :
Cover period : 90 days Margin : 25% [c] Extent and
operation of the charge Second charge by
way of equitable mortgage on the land and building situated at Gut No.
411/412, Mauje Gondhe Dumale, Taluka Igatpuri, District Nashik, Second charge
by way of equitable mortgage of property situated at Plot No. B-63, MIDC,
Ambad, Nashik 422007 |
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Short particulars
of the property charged |
Second charge by
way of equitable mortgage on the land and building situated at Gut No.
411/412, Mauje Gondhe Dumale, Taluka Igatpuri, District Nashik, Second charge
by way of equitable mortgage of property situated at Plot No. B-30, MIDC,
Ambad, Nashik 422007 and Second charge by way o equitable mortgage of
property situated at Plot No. B-63, MIDC, Ambad, Nashik 422007 |
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Date of latest
modification prior to the present modification |
NA |
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Particulars of
the present modification |
NA |
AS PER WEBSITE DETAILS:
PROFILE
The main business of the company is "Printing Securities" an area where
high quality output is required. Security
Cheques, Drafts, Share Certificates and LIC Policies are legal Documents
and fine printing is paramount. Besides, because it has commercial value, a
high degree of caution is needed.
There are only 63 printing press authorised by the Reserve Bank of
India to undertake hitech security printing jobs in India and Anil Printers Limited is one of them.
Over the period of 16 years the company has established its name in all
the segments of market. At present the company is also printing the ATM PIN
Mailers, ATM Deposit Slips and Envelopes, ATM Rolls, India Telephone Cards
(VCC), Internet Pre-paid Cards and Cellular Pre-paid Cards.
They have got the seasoned and trained manpower for production,
maintenance, commercial, accounting, sales and after sales service.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.98 |
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UK Pound |
1 |
Rs. 79.09 |
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Euro |
1 |
Rs. 62.25 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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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63 |
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 |
|
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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