MIRA
INFORM REPORT
|
Report Date : |
20.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZIRCON TECHNOLOGIES (INDIA) PRIVATE LIMITED |
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Registered Office : |
No. 2B-1226, G D Colony, Mayur Vihar, Phase III, New Delhi-110096 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.02.1999 |
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Com. Reg. No.: |
55-98428 |
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CIN No.: [Company
Identification No.] |
U51397DL1999PLC098428 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELZ00303C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of
Packaging Labels |
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 51335 |
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Status : |
Moderate |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having moderate track. Financial position is moderate.
Payments are usually correct. The company can
be considered for small to moderate business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
No. 2B-1226, G D Colony, Mayur Vihar, Phase III, New Delhi-110096,
India |
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Tel. No.: |
91-120-4320636 |
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Fax No.: |
91-120-2586789 |
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E-Mail : |
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Website : |
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Head Office : |
F – 101, Selaqui
Industrial Area, Chakrata Road, Dehradun – 248197 |
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Tel. No.: |
91-120-4320636 |
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Fax No.: |
91-120-2586789 |
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E-Mail : |
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Corporate Office : |
E-40, Sector 8, Noida-201301, Uttar Pradesh, India |
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Tel. No.: |
91-120-4263757/ 4263758/ 43250636/ 4320637 |
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Fax No.: |
91-120-4263758 |
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Mobile No.: |
91-9811537900/ 9810116111 |
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E-Mail : |
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Factory 1 : |
GF, E-144, Sector 55, NOIDA 201 301, Uttar Pradesh |
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Tel. No.: |
91 120 432 0636, 432 0637, 446 3757, 446 3758 |
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Fax No.: |
91 120 258 6789 |
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Mobile No.: |
91 93115 37900 |
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E-Mail : |
DIRECTORS
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Name : |
Mr Tilak Raj Sondhi |
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Designation : |
Director |
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Address : |
B-67, Sector 55,
NOIDA 201 301, Uttar Pradesh |
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Date of Birth/Age : |
08.10.1939 |
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Date of Appointment : |
16.02.1999 |
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Name : |
Mr Sanjeev Sondhi |
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Designation : |
Director |
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Address : |
E-703 Pavitara
Apartment, Vasundara Enclave, Mayur Vihar, Phase - III, New Delhi 110 096 |
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Date of Birth/Age : |
29.12.1966 |
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Date of Appointment : |
07.11.2002 |
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Name : |
Ms Poonam Sondhi |
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Designation : |
Director |
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Address : |
E-703 Pavitara
Apartment, Vasundara Enclave, Mayur Vihar, Phase - III, New Delhi 110 096 |
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Date of Birth/Age : |
25.03.1970 |
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Date of Appointment : |
07.11.2002 |
KEY EXECUTIVES
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Name : |
Arun Kumar Gupta and Associates |
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Designation : |
Company Secretary |
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Address : |
S-561, Bhagwati Business Centre, 122, School Block,
Shakarpur, Delhi-110092, India |
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Tel. No.: |
91-11-22483149 |
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Mobile No.: |
91-9212084302/ 9811835475 |
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E-Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
|
No. of Shares |
|
Tilak Raj Sondhi |
|
100 |
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Sanjeev Sondhi |
|
286000 |
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Poonam Sondhi |
|
304000 |
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Anjana Sondhi |
|
100 |
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Total |
|
590200 |
Equity Share Breakup (Percentage of Total Equity Share Breakup)
As on 30.09.2007
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of
Packaging Labels |
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|
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Products : |
v
Barcode Scanners v Zircon Label
Capabilities and Strengths v Barcode Printers v RFID Printers
and Tags v Data Terminals v Barcode Printing
Software v Thermal Transfer
Ribbons v Label for
Different Industries v Resealabel
Labels v Coupons and
Promotion Labels v RFID Labels v Barcode Labels v
Anti Counterfeiting Solutions |
GENERAL
INFORMATION
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Bankers : |
Bank of India,
Khan Market Branch, 32-33, Raja Gyan Building, Khan Market, New Delhi-110003,
India |
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Auditors : |
Sachin Ashok and Associates |
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Chartered Accountant |
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Address : |
MB-99, Master Block, Shakarpur, Delhi-110092, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
590200 |
Equity Shares |
Rs. 10/-
each |
Rs. 5.902
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
5.902 |
4.802 |
1.102 |
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2] Share Application Money |
2.250 |
0.625 |
0.175 |
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3] Reserves & Surplus |
2.115 |
0.581 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
[0.397] |
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NETWORTH |
10.267 |
6.008 |
0.880 |
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LOAN FUNDS |
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1] Secured Loans |
11.925 |
0.760 |
0.564 |
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2] Unsecured Loans |
5.794 |
0.000 |
0.000 |
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TOTAL BORROWING |
17.719 |
0.760 |
0.564 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
27.986 |
6.768 |
1.444 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
26.311 |
2.281 |
0.210 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.100 |
0.432 |
0.000 |
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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 |
5.998
|
2.298 |
1.335 |
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Sundry Debtors |
9.122
|
5.979 |
0.645 |
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Cash & Bank Balances |
0.718
|
2.535 |
1.101 |
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Other Current Assets |
1.172
|
0.677 |
0.001 |
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Loans & Advances |
0.577
|
1.268 |
0.000 |
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Total
Current Assets |
17.587
|
12.757 |
3.082 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
16.087
|
8.802 |
1.840 |
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Provisions |
0.000
|
0.000 |
0.014 |
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Total
Current Liabilities |
16.087
|
8.802 |
1.854 |
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Net Current Assets |
1.500
|
3.955 |
1.228 |
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MISCELLANEOUS EXPENSES |
0.075 |
0.100 |
0.006 |
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TOTAL |
27.986 |
0.769 |
1.444 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
0.000 |
20.753 |
3.003 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
0.000 |
20.753 |
3.003 |
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Profit/(Loss) Before Tax |
1.855 |
1.416 |
0.156 |
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Provision for Taxation |
0.321 |
0.438 |
0.014 |
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Profit/(Loss) After Tax |
1.534 |
0.978 |
0.142 |
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Total Expenditure |
[1.855] |
19.337 |
2.847 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.00
|
4.71 |
4.72 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.000
|
6.82 |
5.19 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.23
|
9.41 |
4.74 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.24 |
0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.29
|
1.59 |
2.75 |
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Current Ratio (Current Asset/Current Liability) |
|
1.09
|
1.45 |
1.66 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U51397DL1999PLC098428 |
|
Name of the
company |
ZIRCON TECHNOLOGIES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
No. 2B-1226, G D Colony, Mayur Vihar, Phase III, New Delhi-110096,
India |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Bank of India,
Khan Market Branch, 32-33, Raja Gyan Building, Khan Market, New Delhi-110003,
India |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of Hypothecation
for Consumer Loan in Respect of Vehicles. |
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Date of
instrument Creating the charge |
24.06.2008 |
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Amount secured by
the charge |
Rs. 1.423
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 0.50 below BOI
PTLR with a minimum of 12.25% p.a. or at such other rates as may be notified
by the Bank to the Borrower from time to time to be applied with quarterly
rests. Terms of
Repayment 60 Equal monthly installments
of Rs. 0.031 Million each, the first of such installments being payable on 31st
July 2008 and the subsequent installments being payable on the last day of
each succeeding month until the entire loan is repaid. Margin 20% Extent and
Operation of the charge First charge on
the Hypothecated Honda Accord 2.4 M/T Inspire Car. Others Bank has granted
to the borrower a vehicle term loan of Rs. 1.423 Million |
|
Short particulars
of the property charged |
Hypothecation of
Honda Accord 2.4 M/T Inspire Car. |
AS PER
WEBSITE
Profile:
"From Brand Packaging Labels to
Data-capturing through Barcodes & RFID to protecting documents & brands
with innovative Anti-counterfeiting Solutions, their ambit of services widens with
every unique customer."
With unique experience, expertise and focus on developing innovative &
worldclass solutions to empower their customer's business & identity they
create 'the difference' where it
really matters! They are a ZIRCON, leaders in the providing hi-tech AUTO-ID
products for Data capturing & translation, developing anti-counterfeiting
solutions and creating customized brand packaging and barcode labels like
industrial food labels, barcode food labels, security barcode labels, laser
barcode labels, rfid barcode labels, printed industrial barcode labels etc for
all industries after across the world.
Zircon
Vision:
Subject Technologies envisions to be a leader in its
Geographical operational area in the field of Packaging labels and AUTO-ID
solutions, by 2010.
Zircon
Mission:
Subject's commitment is to increase shareholders value by
offering finest solutions to their customers in the field of Packaging, Auto-ID
and Anti counterfeiting, by developing strengths of their people and Nurturing
long term business relationships with their customers based on ethics,
professional approach and workmanship.
Zircon
Core Values:
Subject’s values are critical to its growth and success. It
is important that all Zircon's employees operate with honesty and integrity and
fully understand and respect the values they cherish as a company. These below
mentioned values are the basis of Zircon's Code of Conduct and company is
committed to honouring these values and operating the businesses with the
highest standards of conduct and ethics.
- Achieving
customer's satisfaction;
- The operation
of their businesses based on ethics, integrity & professional
approach;
- Dedication to
continuous improvement in what they do as an individuals and as a company;
- To respect,
value, empower and recognize their employees and insure their all around
development;
- To enhance
shareholder value through increased profitability and growth;
Zircon
and The Community:
Zircon
Care
Giving back to their communities is part of Subject’s Business Philosophy. At
Zircon they are committed to support the community in which they operate by
volunteerism and charitable work. They motivate their employees to volunteer
themselves in different fields where they can make a difference and these
employees are recognized by organization.
Subject has launched a special program by name of Zircon Care; in which they
work closely with different NGO's and Hospitals to provide free medication to
poor patients.
Zircon
and The Environment:
Environment,
Health and Safety(EHS) Policy Statement
Subject is committed to protecting the health and safety of
its employees, and to conducting its operations in an environmentally responsible
manner. Zircon is distinctively committed to.
- Setting
goals, establishing standards and work procedures BY JOINT EFFORTS OF
Management and Employees, which support Zircon's commitment to improved
EHS performance.
- Focusing
efforts and resources on preventing EHS incidents.
- Integrating
EHS considerations into business planning, facilities design, operating
practices and employees training.
- Using
continuous improvement principles to improve EHS performance BY ASSESSING
OUR CURRENT SITUATION.
- Auditing
operations to assess compliance with EHS, and relevant Government
legislations, and to identify opportunities for perfection.
- Developing a
waste management process aimed to reduce, reuse and recycle materials
before a final disposal option is chosen
ZERCON
TECH:
Subject is an integrated Solution provider in
the field of Automated Identification and Data Capture.
When data collection and management become
critical in the field of Supply chain management, Manufacturing, Distribution,
Retail, Healthcare and Logistics etc.
Subject offers customized solutions to fit in
their requirement in the areas of Complaince Labeling, Receiving and Shipping,
Track and Trace, Warehouse Management, ERP Integration, Work in Process etc.
Subject work closely with Zebra Inc, Symbol
Technologies, Printronix, Sony, Seagull Scientific and Kurz to offer a varied
range of high quality products in the field of Bar-coding and RFID; i.e. Bar
code Printers, RFID Printers, Data Terminals (Batch and RF), Thermal Transfer
ribbons, Barcode scanners, Barcode and Label designing software and Mobile
computing for error free data collection.
They offer both thermal transfer and direct
thermal barcode labels through their division Subject Labels.
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 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 theyre 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
bettheyen 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.47.08 |
|
UK Pound |
1 |
Rs.71.17 |
|
Euro |
1 |
Rs.66.98 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
38 |
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 |
|