MIRA
INFORM REPORT
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Report Date : |
21.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MPI PAPERS PRIVATE LIMITED |
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Formerly Known As : |
MODERN PAPER INDUSTRIES |
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Registered Office : |
Millitary Road, Marol, Andheri [East], Mumbai – 400059, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
25.03.1996 |
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Com. Reg. No.: |
11-98408 |
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CIN No.: [Company
Identification No.] |
U21010MH1996PTC098408 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM10578B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture of the Highest Quality of Colour, Fluorescent
and Metallic Coated Paper and Board. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
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Comments : |
As per 2005 financials [last obtained / known] the company had huge
loses of Rs. 4.852 Millions against Paid up Capital of Rs. 0.110 Millions.
Management of the company also remained non-cooperative during current
investigation. No payment are available. In view of the aforesaid, the company can be considered for any
business dealings on safe and secured trade terms and conditions, only. |
INFORMATION
DECLIENED BY
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Name : |
Mr. Writer |
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Designation : |
Admin Department |
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Date : |
17.07.2008 |
LOCATIONS
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Registered Office : |
Millitary Road, Marol, Andheri [East], Mumbai – 400059, Maharashtra,
India |
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Tel. No.: |
91-22-28505068 / 29209252 |
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Fax No.: |
91-22-28505226 / 29209256 |
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E-Mail : |
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Website : |
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Area : |
Owned |
DIRECTORS
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Name : |
Mr. Shabbir Abrulhusein Ezzi |
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Designation : |
Director |
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Address : |
95 A, Warden Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
23.10.1963 |
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Date of Appointment : |
25.03.1996 |
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Name : |
Mr. Saifuddin Abrulhusein Ezzi |
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Designation : |
Director |
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Address : |
95 A, Warden Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
12.10.1960 |
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Date of Appointment : |
25.03.1996 |
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Name : |
Mr. Yusuf Dawood Ezzi |
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Designation : |
Director |
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Address : |
95 A, Warden Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
11.11.1967 |
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Date of Appointment : |
25.03.1996 |
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Name : |
Mr. Mufaddal Dawood Ezzi |
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Designation : |
Director |
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Address : |
95 A, Warden Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
16.04.1971 |
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Date of Appointment : |
25.03.1996 |
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Name : |
Mrs. Jamila Saifuddin Ezzi |
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Designation : |
Director |
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Address : |
95 A, Warden Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
05.04.1963 |
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Date of Appointment : |
01.04.1998 |
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Name : |
Mrs. Tasneem Yusuf Ezzi |
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Designation : |
Director |
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Address : |
95 A, Warden Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
27.02.1972 |
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Date of Appointment : |
01.04.1998 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Ezzi Abrulhusein Shabbir |
275 |
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Ezzi Abrulhusein Saifuddin |
275 |
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Ezzi Dawood Yusuf |
275 |
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Ezzi Dawood Mufaddal |
275 |
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Total |
1100 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of the highest quality of colour, fluorescent
and metallic coated paper and board. |
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Products : |
Poster Print Coloured Matt Paper In 32 Exciting Shades Poster Print 2 Side Coated Both Sides Coloured Paper Poster Print Bi-Colour Both Sides Coloured With Different Shades Glow Print A Range Of Eye-Catching Fluorescent Paper Guaranteed To
Draw Attention To The Message Super Print Coloured Paper With A Rich Texture For That Luxurious
Feel. Deco Print Coloured Paper With Decorative Prints Ideal For Packaging
And Giftwrapping Lacquer Print
Cover Print Lacquerprint With Embossed Patterns, Ideal For Covering
And Packaging Coru Print A Range Of High Quality Corrugated Paper Available In
Vivid Colours Stiko Print Self-Adhesive Poster Print 80gsm With High Tack Adhesive
And Platinum Based Release Coating. |
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Exports : |
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Country : |
v
USA v
UK v
Africa v
Australia v
Egypt v
South Africa v
Far East |
GENERAL
INFORMATION
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Suppliers : |
v Jainarain
Marketing Private Limited v Dhavan Colour
Chem Private Limited v Liladhar Pasoo
Forwarders Private Limited v Jaydev Packaging
v Delta Systems |
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Customers : |
v Korea [India]
Limited v Lofus Global
Limited v Inmark Services
Private Limited v Ambica Global
Ventures Private Limited v Vama Paper
Products Private Limited |
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No. of Employees : |
About 10 |
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Bankers : |
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Auditors : |
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Name : |
Pankaj J Jhamar Chartered Accountants |
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Address : |
M -Fl , Kothari Mansion, 357, S.V.P. Road, Mumbai – 400004,
Maharashtra, India |
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Tel No. : |
91-22-23804290 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.200 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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11000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.110 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.110 |
0.110 |
0.110 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(4.852) |
(6.130) |
(8.241) |
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NETWORTH |
(4.742) |
(6.020) |
(8.131) |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
26.735 |
19.293 |
16.668 |
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TOTAL BORROWING |
26.735 |
19.293 |
16.668 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
21.993 |
13.273 |
8.537 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.346 |
3.002 |
3.224 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
9.338
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10.287 |
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Sundry Debtors |
1.604
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4.125 |
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Cash & Bank Balances |
2.351
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1.128 |
13.371 |
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Other Current Assets |
1.910
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0.654 |
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Loans & Advances |
4.108
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4.271 |
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Total
Current Assets |
19.311
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20.465 |
13.371 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
5.664
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10.195 |
8.062 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
5.664
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10.195 |
8.062 |
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Net Current Assets |
13.647
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10.270 |
5.309 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.001 |
0.004 |
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TOTAL |
21.993 |
13.273 |
8.537 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover |
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48.298 |
62.851 |
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Total Income |
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48.298 |
62.851 |
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Profit/(Loss) Before Tax |
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1.278 |
1.840 |
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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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1.278 |
1.840 |
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Earnings in Foreign Currency : |
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Other Exports |
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21.734 |
29.460 |
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Total Earnings |
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21.734 |
29.460 |
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Imports : |
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Other Imports |
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1.150 |
0.000 |
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Total Imports |
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1.150 |
0.000 |
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Expenditures : |
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Depreciation & Amortization |
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0.673 |
0.477 |
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Other Expenditure |
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46.347 |
60.534 |
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Total Expenditure |
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47.020 |
61.011 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
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PAT / Total Income |
(%) |
2.65
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2.93 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
2.65
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2.93 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.62
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7.84 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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(0.27)
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(0.31) |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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(1.19)
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(1.69) |
(0.99) |
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Current Ratio (Current Asset/Current Liability) |
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3.41
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2.01 |
1.66 |
LOCAL AGENCY FURTHER
INFORMATION
As Per Website
Details
Profile
Subject was established in 1957 and has earned
a reputation for the manufacture of the highest quality of colour, fluorescent
and metallic coated paper and board.
Their advanced technological skills, coupled with dynamic
management, have equipped them with the necessary tools to provide superior
quality products, service and support to all their customers.
MPI offers a wide range of colour-coated paper and board for
a variety of end-uses - especially in printing, packaging, advertising,
stationery, art and craft.
Besides these grades of paper, they also produce one and
two-side colour coated sheets in consumer packs, such as copier paper, laser
paper, origami paper, poster paper, poster paper rolls, sets of assorted poster
board etc. The other qualities of their colour-coated paper are used by
converters to manufacture decorative boxes, gift-wraps, paper bags,
self-adhesive labels and fancy articles.
They invite customers to contact them for samples or further
information of their existing products, or with their specific requirements of
grammage, size, shades and finishes.
They are committed to ensure that for all the requirements
of colour coated paper and board, MPI is just
right for hue.
Fixed Assets
v
Furniture and Fixture
v
Plant and Machinery
v
Motor Car
v
Computer
v
Fax / Modem
Application
v
Art and Craft Projects
v
Boxes, bags and packages
v
Brochures, flyers, promotional literature
v
Giftwraps
v
Greeting / Wedding cards and envelopes
v
Labels and self adhesive labels
v
Menus
v
Party decorations
v
Window displays
v
Posters, signage, banners
v
Business stationary
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 :
The 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.
The 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. 42.71 |
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UK Pound |
1 |
Rs. 85.11 |
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Euro |
1 |
Rs. 67.73 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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