MIRA INFORM
REPORT
|
Report
Date : |
13.06.2008 |
IDENTIFICATION DETAILS
|
Name : |
TONERLINE LIMITED |
|
|
|
|
Registered
Office : |
B – 1,
Chandra Bhawan, 67-68 Nehru Place, New Delhi – 110019 |
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Country
: |
India |
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|
|
Financials
(as on) : |
31.03.2007 |
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|
Date
of Incorporation : |
22.10.1996 |
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CIN
No.: |
U30007DL1996PLC082787 |
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|
|
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Com.
Reg. No.: |
55-82787 |
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|
|
|
TAN
No.: (Tax
Deduction & Collection Account No.) |
DELTO3569G |
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|
|
|
PAN
No.: [Permanent
Account No.] |
AAACT4374M |
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|
|
|
Legal
Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line
of Business : |
Company is engaged in trading of Toner Cartridges & all
kinds of Laser, Fax, Inkjet consumables for offices, Digital Printing,
Prepress needs & in recharging Industry and operates on the fundamental
philosophy of commitment to the customer and the product quality |
RATING & COMMENTS
|
MIRA’s
Rating : |
B |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight
in credit consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Maximum
Credit Limit : |
USD 7000 |
|
|
|
|
Status
: |
Moderate |
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|
|
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Payment
Behaviour : |
Slow but
Correct |
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Litigation
: |
Clear |
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|
Comments
: |
Subject is a small company having mediocre performance and
financial status. Trade relations are fair. Payments are slow but correct. The company can be considered normal for business dealings
at usual trade terms and conditions with slight caution. |
INFORMATION PARTED BY
|
Name : |
Mrs.
Rajani |
|
Designation
: |
Accountant
|
|
Date : |
09.06.2008 |
LOCATIONS
|
Registered
Office : |
B – 1,
Chandra Bhawan, 67-68 Nehru Place, New Delhi – 110019, India |
|
Tel.
No.: |
91-11-26466665/26416337/26239337/51607707
[3 lines] |
|
Fax
No.: |
91-11-26224185 |
|
E-Mail
: |
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|
Website
: |
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|
Location : |
Rented |
DIRECTORS
|
Name : |
Ms. Rachna Agarwal |
|
Designation
: |
Director |
|
Address
: |
174, Tagore Park, New Delhi-110019, India |
|
Date
of Birth/Age : |
20.09.1954 |
|
Date
of Appointment : |
22.10.1996 |
|
|
|
|
Name : |
Mr. Harsh Kumar Agarwal |
|
Designation
: |
Director |
|
Address
: |
174, Tagore Park, New Delhi-110019, India |
|
Date
of Birth/Age : |
27.03.1946 |
|
Date
of Appointment : |
22.10.1996 |
|
|
|
|
Name : |
Ms. Puja Agarwal |
|
Designation
: |
Director |
|
Address
: |
174, Tagore Park, New Delhi-110019, India |
|
Date
of Birth/Age : |
26.01.1976 |
|
Date
of Appointment : |
22.10.1996 |
MAJOR SHAREHOLDERS
[As on 30.09.2005]
|
Names of Shareholders |
No. of Shares |
|
Ms.
Rachna Aggarwal |
5100 |
|
Mr. Harsh Kumar Agarwal |
1100 |
|
Ms. Puja Agarwal |
3100 |
|
Ms. Ruchi
Aggarwal |
1500 |
|
Mr.
Suaraj Parkash Sharma |
4100 |
|
Ms. Jair
Rani Gupta |
3100 |
|
M/s. Aay
Kay & Associate |
12500 |
|
Mr. Arpit
Gupta |
1000 |
|
Mr. Arun
Agarwal |
3000 |
|
Mr.
Ashish Gupta |
1000 |
|
Ms.
Avantika |
1000 |
|
Mr. H K
Babber |
1000 |
|
Mr.
Kartik Agarwal |
1500 |
|
Mrs.
Kiran Gupta |
1500 |
|
Ms.
Malvika Gupta |
1000 |
|
Mr.
Nikhil Gupta |
1000 |
|
Mr.
Pranay Gupta |
900 |
|
Mr. Prem
Sarada |
10000 |
|
Mrs. Rashmi
Agarwal |
2100 |
|
Mrs.
Renuka Gupta |
2000 |
|
Mr. Salil
Sharan |
1500 |
|
Mr. Sajal
Gupta |
900 |
|
Mr.
Sanjay Sharan |
1500 |
|
Mrs.
Satyavati Agarwal |
8500 |
|
Mrs.
Swati Gupta |
1000 |
|
Mr. Rohit
Gupta |
1000 |
|
Mr. Rahul
Gupta |
1000 |
|
Mrs.
Geeta Gupta |
1000 |
|
Mr.
Devender Gupta |
1000 |
|
Mr.
Sanjeev Gupta |
1000 |
|
Mr.
Manish Gupta |
1000 |
|
Mrs.
Swraj Gupta |
1500 |
|
Mr.
Mahesh Gupta |
1700 |
|
Mrs.
Nisha Gupta |
1000 |
|
Mrs. Renu
Gupta |
1000 |
|
Mr.
Rajesh Gupta |
1000 |
|
Mr.
Sudhir Rawel |
1700 |
|
Mr. Ashok
Agarwal |
1000 |
|
Ms. Parul
Agarwal |
1500 |
|
Mr. Amit
Agarwal |
1000 |
|
Mrs. Uma
Agarwal |
1000 |
|
Mr.
Pradeep Agarwal |
1500 |
|
Mr. Nupur
Agarwal |
1500 |
|
Mrs.
Bindu Agarwal |
1000 |
|
Ms.
Upasna Agarwal |
1000 |
|
Mr.
Amshul Agarwal |
1000 |
|
Mr.
Rishab Agarwal |
1000 |
|
Mr.
Pranchi Agarwal |
1000 |
|
Mrs.
Poorwi Agarwal |
1000 |
|
Mr.
Parichay Agarwal |
970 |
|
Mrs.
Shilpa Agarwal |
700 |
|
Total |
99970 |
|
|
|
|
Equity Share Break-up [As on 31.03.2007] |
Percentage of Holding |
|
Directors
or relatives of the Directors |
100.00 |
BUSINESS DETAILS
|
Line
of Business : |
Company is engaged in trading of Toner Cartridges & all
kinds of Laser, Fax, Inkjet consumables for offices, Digital Printing,
Prepress needs & in recharging Industry and operates on the fundamental
philosophy of commitment to the customer and the product quality |
|
|
|
|
Imports
: |
|
|
Products : |
Toner |
|
Countries : |
China |
|
|
|
|
Terms
: |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Suppliers
: |
v Aeroship Corporation v Bax Global India Private Limited v Deepak Associates v Graphic Plate v Image Star Technologies v India Computrade News v Indian Toner & Developers
Limited v Royal Precision Technology Company v Sumanglam International v Unique Compusoft Private Limited v Vijex Enterprises |
|
|
|
|
Customers
: |
v Bakson Drugs and Pharmaceutical v Bakson Homoeathpy Medical College v Brils Education v Data Management System Private
Limited v Delhi Public School v Dewcap International v EEL India Limited v Flex Industries v Goyal Mg Cases Private Limited v ICI India Limited v PACL India Limited v Panasonic India Private Limited v Paras Ram Puria Synthatics v 3A Graphics v ABC Consultants v ABN Amro Bank (Hauz Khas) v ABN Amro Bank (DPC) v Acro Marketing v Advest Marketing v Allied lemur v Amar Vilas v Ankur Data Services v Appollo Clinic v Auroprobe Laboratories v BRN Access v Coral Telecom |
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No. of
Employees : |
15 |
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|
|
|
Bankers
: |
v State Bank of Hyderabad v State Bank of India v Citibank v ICICI Bank |
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|
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Facilities : |
Secured Loan (Rs. In
millions) : As on 31.03.2005 Citi Bank – 0.430 Millions Unsecured Loans : Outstanding for more than 6 months : Rs.0.231 millions Other debts : Rs.0.835 Million Total : Rs.1.066
millions |
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|
|
Banking Relations : |
-- |
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Auditors
: |
J S Dua and Company Chartered Accountant
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|
Address
: |
101, 1st Floor, Satyam Cinema Building, Patel
Nagar, New Delhi-110008, India |
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|
|
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Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/-
Each |
Rs. 1.000
Million |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
99970 |
Equity Shares |
Rs. 10/-
Each |
Rs. 0.999
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
0.999 |
0.999 |
0.999 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
0.424 |
0.360 |
0.310 |
|
|
4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
1.423 |
1.359 |
1.309 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
0.751 |
0.479 |
0.430 |
|
|
2]
Unsecured Loans |
0.000 |
0.361 |
0.000 |
|
TOTAL
BORROWING
|
0.751 |
0.840 |
0.430 |
|
|
DEFERRED
TAX LIABILITIES |
0.000 |
0.000 |
0.011 |
|
|
|
|
|
|
|
TOTAL
|
2.174 |
2.199 |
1.750 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
0.625 |
0.825 |
0.579 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
0.013 |
0.008 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
1.140
|
0.461
|
0.398
|
|
|
Sundry Debtors
|
0.855
|
0.971
|
1.065
|
|
|
Cash & Bank Balances
|
0.700
|
0.774
|
0.325
|
|
|
Other Current Assets
|
0.120
|
0.000
|
0.000
|
|
|
Loans & Advances
|
1.309
|
0.745
|
0.337
|
Total Current Assets
|
4.124
|
2.951
|
2.125
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
2.497
|
1.520
|
0.860
|
|
|
Provisions
|
0.091
|
0.065
|
0.095
|
Total Current Liabilities
|
2.588
|
1.585
|
0.955
|
|
Net
Current Assets
|
1.536
|
1.366
|
1.170
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.001 |
|
|
|
|
|
|
|
TOTAL
|
2.174 |
2.199 |
1.750 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales
Turnover |
20.052 |
10.646 |
5.810 |
|
|
Other Income |
0.131 |
0.002 |
0.002 |
|
|
Total
Income |
20.183 |
10.648 |
5.812 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.129 |
0.258 |
0.301 |
|
|
Provision for Taxation |
-- |
-- |
-- |
|
|
Profit/(Loss) After Tax |
0.129 |
0.258 |
0.301 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
16.568 |
7.860 |
3.356 |
|
|
Salaries, Wages, Bonus, etc. |
0.619 |
0.520 |
0.605 |
|
|
Managerial Remuneration |
0.192 |
0.192 |
0.192 |
|
|
Payment to Auditors |
0.028 |
0.019 |
0.011 |
|
|
Interest |
0.000 |
0.035 |
0.043 |
|
|
Insurance Expenses |
0.046 |
0.015 |
0.005 |
|
|
Depreciation & Amortization |
0.202 |
0.147 |
0.194 |
|
|
Other Expenditure |
2.399 |
1.602 |
1.105 |
|
Total
Expenditure |
20.054 |
10.390 |
5.511 |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
0.64
|
2.43
|
5.18 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
0.64
|
2.42
|
5.18 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
2.72
|
6.83
|
11.13 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.09
|
0.19
|
0.22 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
2.35
|
1.78
|
1.06 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
1.59
|
1.87
|
2.23 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The situation of the registered office of the company was
changed from 205, Sahyog Building, 58, Nehru Place, New Delhi-110019 to B – 1,
Chandra Bhawan, 67-68 Nehru Place, New Delhi – 110019 w.e.f. 08.02.2001.
Fixed Assets:
v Air Conditioners
v Plant & Machinery
v Refrigerator
v Pager
v Vehicles
v Water Cooler
v Furniture & Fixture
v Computer
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 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.42.81 |
|
UK Pound |
1 |
Rs.83.75 |
|
Euro |
1 |
Rs.66.10 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
4 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
37 |
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
|
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/normal. |
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 |