MIRA
INFORM REPORT
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Report Date : |
28.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
KUMAR PRINTERS PRIVATE LIMITED |
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Registered Office : |
D-92/4, Okhla Industrial Area, Phase – I, New Delhi – 110020 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.03.1976 |
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Com. Reg. No.: |
55-008130 |
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CIN No.: [Company
Identification No.] |
U22219DL1976PTC008130 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK00213D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Printers and Packagings Industry. |
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 309916 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory track records. Financial position is satisfactory. Trade relations are fair. Payments are correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
D-92/4, Okhla Industrial Area, Phase – I, New Delhi – 110020, India |
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E-Mail : |
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Website : |
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Corporate Office : |
F – 30/3, Okhla Industrial Area, Phase II, New Delhi – 110020 |
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Tel. No.: |
91-11-51616470/26383519 |
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Fax No.: |
91-11-51616470/26384802 |
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Email: |
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Area : |
Medium |
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Location : |
Owned |
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Factory : |
Plot No.24, Sector V – IMT Manesar, Gurgaon, India |
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Tel. No.: |
91-11-51616467/124-4366555/56 |
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Fax No.: |
91-124-2291096 |
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Email: |
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Area : |
Medium |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Manmohan kumar Bhargava |
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Designation : |
Managing Director |
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Address: |
D-4/7, Gurgaon, Phase –I, DLF City, Gurgaon, Haryana. |
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Date of Birth/Age : |
04.01.1935 |
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Qualification : |
Graduate |
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Experience : |
45 Years |
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Date of Appointment : |
13.11.1995 |
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Name : |
Mr. Nihal Chand Bhargava |
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Designation : |
Commercial Director |
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Address: |
C-75, Sarita Vihar, Pocket -3, New Delhi - 110044 |
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Date of Birth/Age : |
10.01.1938 |
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Date of Appointment : |
10.01.1997 |
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Name : |
Mr. S K Bhargava |
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Designation : |
Production Director |
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Address: |
A-516, Sarita Vihar, New Delhi - 110044 |
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Date of Birth/Age : |
07.01.1948 |
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Date of Appointment : |
01.09.1989 |
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Name : |
Mr. Sandeep Bhargava |
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Designation : |
Director |
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Address: |
D-4/7, Gurgaon, Phase –I, DLF City, Gurgaon, Haryana. |
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Date of Birth/Age : |
21.08.1967 |
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Date of Appointment : |
31.08.1999 |
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Name : |
Mr. Satish Kumar Bhargava |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Ms. Kiran Wadhwa |
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Designation : |
Company Secretary |
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Address : |
A-50, Malka Ganj, Delhi - 110007 |
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Date of Birth/Age : |
17.10.1973 |
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Date of Appointment : |
20.08.1999 |
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Name : |
Bindal Anubhav and Associates |
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Designation : |
Company Secretary |
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Address : |
1 E/ 15, Jhandewalan Extension, New Delhi – 110055 |
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Tel No. : |
91-11-23529799 |
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Mobile No. : |
91-9810348749 |
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E Mail : |
Bindal007@yahoo.co.in |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. M. k. Bhargava |
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650000 |
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Mr. N C Bhargava |
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90500 |
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Mr. Pramod Kumar |
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1800 |
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Mr. M.R. Agnihotri |
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3500 |
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Mrs. Janak Yadav |
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8000 |
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Mr. Sandeep Bhargava |
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394000 |
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Mrs. Nirmal Bhargava |
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205000 |
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Mr. Anuj Bhargava |
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71000 |
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Mr. Sandeep Bhargava |
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25000 |
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Mr. M. K. Bhargava (HUF) |
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55000 |
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Mr. S. K. Bhargava (HUF) |
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50000 |
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Mrs. Nisha Bhargava |
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50000 |
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Mr. N. C. Bhargava (HUF) |
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35000 |
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Mr. Kiran Chimalwar |
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1200 |
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Mr. Satish Kumar Bhargava |
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70000 |
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Mr. Vaibhav Shah |
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90000 |
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Mr. K. D. Gupta |
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10000 |
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Mr. H. P. Bhargava |
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900 |
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Mrs. Manjula Gupta |
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7500 |
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Mrs. Gunjan Bhargava |
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9000 |
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Mr. P. K. Bose |
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600 |
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Mr. Abhinav Bhargava |
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23000 |
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Mrs. Bimla Bhargava |
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5000 |
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Mrs. Poonam Bhargava |
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5000 |
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Mrs. Chitra Bhargava |
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2500 |
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Mr. K.D. Bhargava |
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30000 |
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Mrs. Manjula Bhargava |
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500 |
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Ms. Pooja Bhargava |
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500 |
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Mrs. Ruchi Bhargava |
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500 |
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Mrs. Usha Bhargava |
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5000 |
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Mr. H. K. Yadav |
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10000 |
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Mrs. Sheela Bhargava |
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50000 |
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Mr. Mohit Bhargava |
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5000 |
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Mrs. Meera Bhargava |
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3000 |
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Ms. Haresh Bhargava |
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2500 |
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Mr. R. S. Bhargava |
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500 |
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Dr. Anjana Bhargava |
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500 |
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Ms. Isha Gupta |
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500 |
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Mr. S. N. Bhargava |
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500 |
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Mrs. Mohan Kapoor |
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500 |
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Ms. Kiran Wadhwa |
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1000 |
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Mr. A. P. Bhargava |
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5000 |
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Dr. Puneet Bhargava |
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500 |
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Mrs. Madhu Bhargava |
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500 |
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Dr. Rakesh Bhargava |
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500 |
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Mrs. ILA Bhargava |
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12000 |
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Dr. V. S. Saxena |
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500 |
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Total |
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1993000 |
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Printers and Packagings Industry. |
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Exports : |
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Countries : |
UK |
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Imports : |
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Countries : |
Germany |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
126 |
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Bankers : |
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Facilities : |
- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K S Gupta and Company Chartered Accountant |
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Address : |
A-59, 1st Floor, Lajpat Nagar, New Delhi – 110024, 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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1993300 |
Equity shares |
Rs.10/- each |
Rs.19.933
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 |
19.933 |
19.930 |
19.930 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
57.546 |
50.590 |
44.726 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
77.479 |
70.520 |
64.656 |
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LOAN FUNDS |
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1] Secured Loans |
150.283 |
158.698 |
161.296 |
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2] Unsecured Loans |
33.185 |
28.215 |
26.765 |
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TOTAL BORROWING |
183.468 |
186.913 |
188.061 |
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DEFERRED TAX LIABILITIES |
12.639 |
9.465 |
0.000 |
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TOTAL |
273.586 |
266.898 |
252.717 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
186.702 |
201.652 |
198.759 |
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Capital work-in-progress |
2.000 |
3.857 |
0.000 |
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INVESTMENT |
0.029 |
0.029 |
0.029 |
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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 |
33.318
|
26.232 |
24.964 |
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Sundry Debtors |
88.227
|
65.218 |
0.547 |
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Cash & Bank Balances |
0.128
|
0.158 |
49.929 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
18.161
|
11.901 |
4.839 |
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Total
Current Assets |
139.834
|
103.509 |
80.279 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
46.157
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31.842 |
26.350 |
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Provisions |
8.822
|
10.307 |
0.000 |
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Total
Current Liabilities |
54.979
|
42.149 |
26.350 |
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Net Current Assets |
84.855
|
61.360 |
53.929 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
273.586 |
266.898 |
252.717 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
249.722 |
210.474 |
168.035 |
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Other Income |
7.641 |
11.532 |
0.000 |
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Total Income |
257.363 |
222.006 |
168.035 |
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Profit/(Loss) Before Tax |
11.974 |
9.909 |
(0.455) |
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Provision for Taxation |
3.664 |
1.773 |
9.847 |
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Profit/(Loss) After Tax |
8.310 |
8.136 |
(10.302) |
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Total Import Value |
N.A. |
25.959 |
N.A. |
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Total Expenditure |
206.888 |
171.709 |
N.A. |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
3.22
|
3.66
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(6.13) |
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Net Profit Margin (PBT/Sales) |
(%) |
4.79
|
4.70
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(0.27) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.66
|
3.24
|
(0.16) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.14
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(0.01) |
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Debt Equity Ratio (Total Liability/Networth) |
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3.08
|
3.25 |
3.32 |
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Current Ratio (Current Asset/Current Liability) |
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2.54
|
2.45 |
3.05 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 :
|
Corporate
identity number (CIN) Foreign company registration number |
U22219DL1976PTC008130 |
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Name of the
Company |
KUMAR PRINTERS PRIVATE LIMITED |
|
Address |
D-92/4, Okhla Industrial Area, Phase – I, New Delhi – 110020, India |
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This form is for |
Creation of
charge |
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Type of Charge |
Machineries |
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Particulars of
the charge holder |
Syndicate Bank Nehru Place Branch,
Nehru Place, New Delhi – 110001, Delhi, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Composite
Hypothecation Agreement |
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Date of the
instrument creating or modifying the charge |
Date :30.06.2007 |
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Amount secured by
the charge |
Rs.15.600
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest
: Interest as per loan
agreements, sanction Terms and Bank Norms from time to time. Terms of
repayment : Repayment in 20
quarterly installment of Rs.0.780 Million with first installment payable in
September, 2007 Margin : Margin as per
Bank Norms. Extent and
operation of the charge : The charge
operates as continuing security inter alia, for the due repayment by the
company to the Bank to the extent of Rs.15.600 Millions together with
interest, additional, liquidated damages, premia on repayment costs, charge,
expenses and all other moneys payable to the Bank in terms of the loan
agreements and Bank norms from time to time. Others : First Charge
Machineries to be purchased and existing machineries as per list attached to
the agreement is to secure the OSL/Additional Terms Loan of Rs.15.600
Millions sanctioned to the company. |
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Short particulars
of the property charged (including location of the property) |
First charge
machineries to be purchased and existing machineries as per list attached to
the Agreements. |
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Particular of the
present modification |
N.A. |
Website details :
Subject is the premier packaging organization that meets
customer's paperboard packaging requirements - With competitively priced innovative
solutions implemented by professionals with extensive experience.
Founded in 1964, Subject has constantly adopted the latest
innovations in technology, processes, and materials. Kumar specializes in multi
colour printing and special-effects, such as printing on Met. Pet., hot foil
stamping, UV coating, pearlescent pigments etc, that help the final product
stand out on store shelves.
Subject is a member of the All India Federation of
Master Printers and also The Indian Institute of Packaging. It is the only
Indian member of the Global Packaging Alliance.
·
Operations and
Distribution :
Subject works to deliver consistency to the minutest
detail. Every month witnesses more than 225 metric tons of paper getting
converted to high-quality packaging. Additional spare capacity takes care of
any exigencies. Subject maintains adequate service support facilities in order
to ensure that dedllines are met. Subject operates an effective distribution
network with factories that are located on Major road and rail transport links.
·
Printing and Packaging
Packaging has become much more than a simple container for product – it has
become a fundamental component of brand identity. Through packaging the product
is protected and marketed to consumers, and special effects help to both catch
the eye and increase brand loyalty.
In addition to quality printing subject also provides the
facility to add powerful security features into print making it possible to
identify the spurious / counterfeited packs in the market.
Subject is a full-service printing and packaging service
provider for the consumer industry, offering all pre-press, press, and
post-press services to clients. With wide range of substrate printing
capabilities, Subject delivers a complete packaging solution.
·
Some
of these printing services include:
Pre-press:
Structural design, sample making, addition of security
features, image correction and manipulation.
Press:
Offset printing, inline coating, UV curing, printing of metallics
using flexo and screen-printing processes.
Post-press:
Foil stamping, embossing, die cutting, automatic screen
printing, UV lacquering, aqueous coating.
·
Special
Print Finishing Effects services
In addition to standard printing services, subject specializes in printing
effects that cover a broad range of industry segments and include:
·
Printing on non-absorbent substrates including metallized
foil laminated board, and hot stamped board
·
Coating on board using a flexo plate for patterns,
monograms, and designs, using aqueous coating or ultraviolet coating.
·
Special effects using water and solvent based metallic,
pearlescent pigments, and silk-like matt finishes, embossing and window
patching.
In addition to these standard services, subject offers specialized support
services to clients that can be had through team of dedicated packaging
professionals. A few of these services include assisting clients to solve
problems on packaging lines and design improvements to achieve better
efficiencies while using their packaging material.
·
Clientele
:
As a family-owned business, Subject realizes the
value of relationship with customers. subject takes the long-view of business,
often starting with small projects with a client then increasing work as trust
is developed between the two parties. Due to this outlook on relationship, as
well as excellent processes and quality control, Subject has the rare
distinction of a 100% client retention rate.
Subject maintains transparent service offering to clients. Dedicated
sales managers keep the clients abreast of the exact status, experienced
technical team ensures that there is a constant adherence to agreed
specifications.
PRESS
RELASES :
Rochester, NY – June 16, 2005 - The Global Packaging
Alliance (GPA) announced that they have added a new partner in India by signing
an agreement with Kumar Printers Pvt. Ltd, located in Gurgaon. Kumar Printers
is one of the premier folding carton manufacturers in India, producing high-end
packaging for the pharmaceutical, healthcare and personal care markets.
GPA members visited several potential partners in India to
assess which best complement the GPA’s current network in terms of management philosophy,
technical capabilities and markets served, with the goal of extending the
alliance’s global reach and service to its customers. India represents a unique
opportunity, with a growing economy and changing consumer habits expected to
spur the growth of packaging products.
Kumar Printers offers a full range of services and is geared
to meet all functional, marketing, and promotional requirements of packaging.
Their extensive capabilities include in-house structural design, offset
printing with inline UV coating, foil stamping, embossing, die cutting,
windowing, gluing, and converting microflute cartons and point-of-sale
displays. They also print on non-absorbent substrates such as metallized board
and plastic foil, and can apply specialized coatings utilizing metallic,
pearlescent and Iriodin® pigments.
“Kumar Printers is a natural fit,” said Harry Voss, Chairman
of Diamond Packaging. “Their strength in successfully combining the latest
technology with innovation to maintain a strategic advantage for our customers
embodies all that GPA has to offer.”
The Global Packaging Alliance is an international
organization of independent packaging experts proficient at managing all
aspects of the supply chain. With state-of-the-art production facilities and logistics
centers around the world, the GPA provides responsive, localized service,
award-winning creative designs, identical product specifications and consistent
brand recognition, resulting in unparalleled global packaging support. Members
include:
·
Diamond Packaging -
Rochester, NY, USA
·
Rob. Leunis and
Chapman Group - Hannover, Germany
·
Colorpak Packaging
Group - Melbourne, Australia
·
Gonçalves SA
Indústria Gráfica - Sao Paolo, Brazil
·
JSC
Polygrafoformlenie - St. Petersburg, Russia
·
Yau Bon Offset
Printing - Quarry Bay, Hong Kong
·
Cartmont
- Tlalnepantla, Mexico
·
Kumar Printers
- Gurgaon, India
GPA members practice packaging management geared toward the
needs of international companies, including Agfa-Gevaert, Bayer, Beiersdorf,
Eastman Kodak, The Gillette Company, GlaxoSmithKline, L’Oreal, Nestlé, Schering
Plough and Unilever. This includes designing and producing innovative
paperboard and plastic packaging, as well as providing logistical services such
as fulfillment and POP management. The GPA’s goal is to support clients in
launching new brands or products, while significantly reducing time-to-market.
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.39.40 |
|
UK Pound |
1 |
Rs.77.95 |
|
Euro |
1 |
Rs.58.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|