MIRA
INFORM REPORT
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Report Date : |
19.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHENNAI MICRO PRINT PRIVATE LIMITED |
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Registered Office : |
(Old No.34) # 130, Nelson Manickam Road, Aminjikarai, Chennai - 600
029, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.01.1999 |
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Com. Reg. No.: |
18-41676 |
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CIN No.: [Company
Identification No.] |
U22190TN1999PTC041676 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEC02712D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Printing and Publishing of Book, Articles and Magazine |
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 : |
USD19445 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track
records. Their trade relations are fair. The company is doing well. It’s payments
are usually correct and as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
(Old No.34) # 130, Nelson Manickam Road, Aminjikarai, Chennai - 600 029,
Tamilnadu, India |
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Tel. No.: |
91-44-2374 0099 / 42113910 |
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Fax No.: |
91-44-2374 1188 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Arunachalam Anand |
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Designation : |
Director |
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Address : |
4 F, 9th Block, Ceebros Park, Radhakrishnan Salai, Valasaravakkam,
Chennai – 6000087, Tamilnadu, India |
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Date of Birth/Age : |
29.04.1970 |
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Date of Appointment : |
18.06.2007 |
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Name : |
Mr. Singaram Ramu |
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Designation : |
Director |
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Address : |
10 Parthasarathy, Street, Sabari Apartments, Ayyavu Naidu Colony,
Amijikarai, Chennai – 600029, Tamilnadu, India |
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Date of Birth/Age : |
21.03.1970 |
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Date of Appointment : |
01.01.1999 |
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Name : |
Mr. Veerappan Ramesh |
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Designation : |
Director |
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Address : |
# 7 T. S. D Nagar, First Main Road, Arumnnai, Chennai – 600106,
Tamilnadu, India |
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Date of Birth/Age : |
04.02.1968 |
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Date of Appointment : |
01.01.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
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Name and Address
of the Shareholder |
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No
of Shares |
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S. Ramu |
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48600 |
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V Ramesh |
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48600 |
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Total
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97200 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Printing and Publishing of Book, Articles and Magazine |
GENERAL
INFORMATION
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Customers : |
· Nelson Thornes · Taylor and
Francis · Roultedge · MacMilan |
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No. of Employees : |
About 200 |
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Bankers : |
State Bank of India # 320, Valluvar Kottam High Road, Nungambakkam Branch, Chennai –
600034, Tamilnadu, India Bharat Overseas Bank Limited ICICI Bank |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Yoganandh and Ram Chartered Accountants |
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Address : |
82/62, 53rd Street, 9th Avenue, Ashok Nagar, Chennai
– 600 083, Tamilnadu, India Tel. No.: 91-44-52029285 / 24891595 E-Mail : pattabhi@md2.vsnl.net.in
No. 20 A, Royapettah High Road, Third Street, Chennai – 600 004. Tel. No.: 91-44-4990172 Email : sridaran@vsnl.com No.12, 12th Cross Street, Dhandeeswaram Nagar,
Velachery, Chennai –
600 042. Tel. 91-44-22432030 E-Mail: yandrcach@gmail.com |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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97200 |
Equity Shares |
Rs. 100/- each |
Rs. 9.720
Millions |
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 |
9.720 |
9.720 |
2.520 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
29.170 |
12.855 |
8.056 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
38.890 |
22.575 |
10.576 |
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LOAN FUNDS |
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1] Secured Loans |
90.221 |
36.956 |
15.493 |
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2] Unsecured Loans |
9.510 |
4.949 |
7.834 |
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TOTAL BORROWING |
99.731 |
41.905 |
23.327 |
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DEFERRED TAX LIABILITIES |
3.459 |
0.859 |
1.528 |
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TOTAL |
142.081 |
65.339 |
35.431 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
88.807 |
28.050 |
23.192 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.695 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
18.569
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10.748 |
7.951
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Sundry Debtors |
51.399
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37.538 |
16.313
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Cash & Bank Balances |
2.330
|
1.204 |
3.726
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Other Current Assets |
0.000
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0.000 |
0.000
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Loans & Advances |
21.152
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18.749 |
4.325
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Total
Current Assets |
93.450
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68.238 |
32.315 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
34.422
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26.338 |
17.303
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Provisions |
5.753
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4.611 |
3.473
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Total
Current Liabilities |
40.176
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30.948 |
20.776
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Net Current Assets |
53.274
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37.290 |
11.539
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.005 |
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TOTAL |
142.081 |
65.339 |
35.431 |
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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 |
240.265 |
162.719 |
65.223 |
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Other Income |
1.329 |
1.058 |
0.559 |
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Total Income |
241.594 |
163.777 |
65.782 |
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Profit/(Loss) Before Tax |
27.540 |
10.938 |
4.189 |
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Provision for Taxation |
10.092 |
4.415 |
0.920 |
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Profit/(Loss) After Tax |
17.448 |
6.523 |
3.269 |
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Total Earnings |
10.454 |
11.810 |
20.878 |
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Total Imports |
55.052 |
11.374 |
0.000 |
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Expenditures : |
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Operating Cost |
147.344 |
112.216 |
61.965 |
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Staff Cost |
0.000 |
0.000 |
5.865 |
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Financial Charges |
11.148 |
4.718 |
0.000 |
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Administrative Expenses |
20.377 |
16.823 |
14.187 |
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Selling Expenses |
2.568 |
2.578 |
1.013 |
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Interest and Finance Charges |
0.000 |
0.000 |
3.478 |
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Personnel Expenses |
18.383 |
10.382 |
0.000 |
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Bad Debts Written off |
0.318 |
0.038 |
0.054 |
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Preliminary Expenses Written off |
0.000 |
0.005 |
0.001 |
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Depreciation & Amortization |
13.916 |
6.079 |
5.029 |
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Total Expenditure |
214.054 |
152.839 |
91.592 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
7.22
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3.98 |
4.97
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Net Profit Margin (PBT/Sales) |
(%) |
11.40
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6.72 |
6.42
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Return on Total Assets (PBT/Total Assets} |
(%) |
15.11
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11.36 |
7.55
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Return on Investment (ROI) (PBT/Networth) |
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0.71
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0.48 |
0.40
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Debt Equity Ratio (Total Liability/Networth) |
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3.60
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3.23 |
4.17
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Current Ratio (Current Asset/Current Liability) |
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2.33
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2.20 |
1.56
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LOCAL AGENCY
FURTHER INFORMATION
Operations
The various steps taken by the Management to increase the turnover of the
Company are slowly bearing fruit and the Directors are confident that the
operations would show considerable improvement in the coming years.
Contingent
Liabilities
|
Particulars |
31.03.2005 [Rs in Millions] |
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Outstanding Counter Guarantee Given to Bharat Overseas Bank Towards
Customs Bond |
1.200 |
Bankers Charges
Report as per Registry
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Name of the company |
CHENNAI MICRO
PRINT PRIVATE LIMITED |
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Presented By |
V Ramesh –
Director |
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1) Date and description of instrument creating the change |
Agreement of Loan
cum Hypothecation dated 15.12.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 79.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Raw Materials,
Work in progress, finished goods and book debts, Plant and machinery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 10 %
on cash credit and term loan and @ 7.35 % on packing credit with monthly
rest. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India # 320, Valluvar Kottam High Road, Nungambakkam Branch, Chennai –
600034, Tamilnadu, India |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
As Per
Website
Profile
Subject has always believed that the customer comes first. This
belief, coupled with a strict emphasis on excellence, has been the driving
force behind the company since its inception a decade ago. Whether it is large,
medium or small clients, it has always been their conviction that quality
product delivery will always hold the key to success. Add to that the concept
of individual customer care, timeliness and straightforward business
principles, subject is sure to set standards of leadership in the print and
publishing segment.
Directors
Without doubt, a company's roadmap is defined by its
leadership. At Chennai Micro Print, the internal strength is derived from its
trio of progressive entrepreneur-directors: V. Ramesh, S. Ramu and A. Anand. With a sound educational background
in Printing Technology and over 20 years of experience in the field, they have
put quality control at the top of their work ethics. Whether it be customers,
human resources or vendors, quality management has inevitably led the way in
all professional aspects of the business. A strategy that is expected to reward
them with ISO 9001 certification in the near future.
Press Room
The
pressroom is often described as the heart of Chennai Micro Print, where the
finished product of ink and paper is the end product emanating from the latest
technologically-advanced printing presses. All machinery has been sourced from
reputed international suppliers who have also aided the company with manpower
training. Though colour control and related aspects are taken care by machines,
human intervention too plays a crucial role in the final output. And with only
one goal in mind. To deliver print after print, consistently.
·
Heidelberg Speed Master SM102-8P/ CP2000 4/4 with Waterless
Printing
·
Heidelberg Speed Master SM 74-5 Colour
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Heidelberg Speed Master SM 102-2P Colour
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Heidelberg SORS Single Colour(2 nos)
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Heidelberg SOR Single Colour
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Heidelberg TOK Single Colour
·
Orient Web Offset Press 2 Colour 580mm Cutoff
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Ronald Web Offset Press Single Colour 508mm Cutoff
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.42.78 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.67.90 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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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 |
NO |
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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 |
|
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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 |
|
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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