MIRA INFORM REPORT
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Report Date : |
04.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELHI PRESS PATRA PRAKASHAN PRIVATE LIMITED |
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Registered Office : |
Delhi Press Building, E – 3, Jhandewalan Estate, Rani Jhansi Marg, New
Delhi – 110022 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
26.11.1979 |
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Com. Reg. No.: |
55-10009 |
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CIN No.: [Company
Identification No.] |
U74899DL1979PTC010009 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD06478D |
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PAN No.: [Permanent
Account No.] |
AAACD3244J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Printing and Publishing of Magazines and Periodicals |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 640000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track records. Trade
relations are fair. Payments are usually correct and as per commitments. The
company is doing well. It can be considered good for any normal business dealings. |
LOCATIONS
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Registered Office / Factory / Warehouse : |
Delhi Press Building, E – 3, Jhandewalan Estate, Rani Jhansi Marg, New
Delhi – 110022, India |
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Tel. No.: |
91-11-41398888 / 23529557 |
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Fax No.: |
91-11-23625020 |
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E-Mail : |
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Factory / Warehouse : |
36-A, Sahibabad Industrial Area, Site IV, District Ghaziabad, Uttar Pradesh,
India |
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Branches : |
Located at:-
Tel No. : 91-79-26577845 |
DIRECTORS
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Name : |
Mr. Rakesh Nath |
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Designation : |
Managing Director |
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Name : |
Mr. C P Khare |
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Designation : |
Whole Time Director |
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Name : |
Ms. Divya Prabha |
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Designation : |
Director |
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Name : |
Ms. Richa Ruchika |
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Designation : |
Director |
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Name : |
Mr. Rohit Nath |
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Designation : |
Director |
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Name : |
Mr. Anant Nath |
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Designation : |
Director |
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Address : |
E – 3, Jhandewalan Estate, New Delhi – 110022, India |
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Date of Appointment : |
28.09.2006 |
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Other Directorship : |
Delhi Prakashan Vitran Private Limited CIN No.: U22190DL1968PTC004872 PE Communications Private Limited CIN No.: U00000DL1975PTC007832 Delhi Printing and Publishing Company Private Limited CIN No.: 74899DL1939PTC000509 Vinapar Private Limited CIN No.: 74899DL1981PTC012811 |
KEY EXECUTIVES
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Name : |
Mr. K K Garg |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Vishv Vijay Pte Limited |
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81125 |
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Divya Prabha |
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443 |
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Ruchi Ruchika |
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590 |
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Navin Kala Trust |
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464280 |
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Vishv Kala Trust |
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464282 |
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Purna Kala Trust |
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464280 |
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Total |
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1475000 |
BUSINESS DETAILS
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Line of Business : |
Printing and Publishing of Magazines and Periodicals |
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Brand Names : |
‘Women’s Era’, ‘Sarita’, ‘Grih Shoba’, ‘Mukta’ and ‘ Champak’ |
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Exports : |
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Countries : |
Nepal |
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Imports : |
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Countries : |
U.K., Germany, Singapore and Korea |
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Terms : |
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Selling : |
Cash or L/C or Credit (30 days) terms |
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Purchasing : |
Cash or L/C or Credit (30 days) terms |
GENERAL
INFORMATION
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Customers : |
Retailers and Individuals |
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No. of Employees : |
250 |
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Bankers : |
·
Standard Chartered Grindlays Bank Limited Connaught Place, New Delhi – 110 001 ·
Bank of India Janpath Branch, New Delhi – 110 001, India ·
ANZ Grindlays Bank Connaught Place, New
Delhi – 110 001, India
2 Siri Fort Institutional
Area, Khelgaon Marg, New Delhi 110016 |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Mehra Goel and Associates Chartered Accountants |
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Address : |
505, Chrinjiv Tower, New Delhi - 110055 |
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Associates/Subsidiaries : |
Delhi Press Samachar Patra Private Limited Delhi Prakashan Vitran Private Limited CIN No.: U22190DL1968PTC004872 PE Communications Private Limited CIN No.: U00000DL1975PTC007832 Delhi Printing and Publishing Company Private Limited CIN No.: 74899DL1939PTC000509 Vinapar Private Limited CIN No.: 74899DL1981PTC012811 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
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1,500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
||
|
1,475,000 |
Equity Shares |
Rs. 100/- each |
Rs. 147.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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147.500 |
147.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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13.481 |
11.571 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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160.981 |
159.071 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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160.981 |
159.071 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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24.477 |
27.776 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.786 |
0.786 |
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DEFERREX TAX ASSETS |
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0.802 |
0.637 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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152.975
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165.391 |
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Sundry Debtors |
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85.889
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57.908 |
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Cash & Bank Balances |
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64.092
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32.865 |
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Other Current Assets |
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0.000
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0.000 |
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Loans & Advances |
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8.436
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21.739 |
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Total
Current Assets |
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311.392
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277.903 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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160.073
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132.118 |
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Provisions |
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16.403
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15.913 |
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Total
Current Liabilities |
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176.476
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148.031 |
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Net Current Assets |
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134.916
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129.872 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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160.981 |
159.071 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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457.579 |
425.611 |
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Other Income |
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5.329 |
7.063 |
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Total Income |
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462.908 |
432.674 |
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Profit/(Loss) Before Tax |
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3.305 |
1.442 |
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Provision for Taxation |
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1.395 |
0.949 |
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Profit/(Loss) After Tax |
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1.910 |
0.493 |
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Earnings in Foreign Currency |
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1.114 |
1.383 |
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Imports : |
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Stores & Components |
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0.690 |
5.797 |
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News print |
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146.400 |
236.036 |
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Total Imports |
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147.090 |
241.833 |
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Expenditures : |
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Financial Charges |
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0.396 |
0.514 |
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Depreciation & Amortization |
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4.723 |
5.275 |
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Other Expenditure |
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454.484 |
425.443 |
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Total Expenditure |
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459.603 |
431.232 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.41 |
0.11 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.72 |
0.34 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.98 |
0.47 |
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Return on Investment (ROI) (PBT/Networth) |
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0.02 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.10 |
0.93 |
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Current Ratio (Current Asset/Current Liability) |
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1.76 |
1.88 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
DELHI PRESS PATRA
PRAKASHAN PRIVATE LIMITED |
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Mr. Sunil Aggarwal, Vice President IDBI Bank Limited, New Delhi |
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1) Date and description of instrument creating the change |
Agreement of Hypothecation
of Goods and assets of Letter regarding grant of individual limit within
overall limit dated December 9, 1998 Subsequently
modified on December 24, 1998 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 87.000
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 |
First
hypothecation charge on All present and future
book debts, moneys receivable chose in action and claims All stock in
trade both present and future, including raw material, work in process,
finished goods, such as glazed newsprint, standard newsprint, printing ink,
graphic films, PS plates, magazines, periodicals, printing articles stores,
consumables and other store or being stored at Delhi press Bhawan, 50 DLF
Industrial Estate, Sector 28, Faridabad, E-3, Jhandewala Estate, Rani Jhansi
Marg, New Delhi and branch offices at Mumbai, Cochin, Ahmedabad and or
elsewhere stored and / or in transit. The whole of the
movable properties of Delhi Press Patra Prakashan Limited including its
movable plant an machinery, machinery spares, tools and accessories and other
movables both present and future whether installed or not and whether now
lying loose or in case or which are now lying or stored in or shall hereafter
time to time during the continuance of the security of the said deed of
hypothecation be brought into or upon or be stored or be in or about the
company’s factory premises and Godown situated at 50 DLP Industrial Estate,
Faridabad and at E-3, Jhandewala Estate, Rani Jhansi Marg, New Delhi and
branch offices at Mumbai, Calcutta, Cochin, Lucknow, Ghaziabad, Bangalore or
wherever else. The same may be or be held by any party to the other or
disposition of the borrower or in course of transit or in highseas or in
order of delivery however and wheresoever in the possession of the company
and either by way of substitution or addition. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure fund based cash credit limit of Rs. 15 millions and term loan of Rs.
45 Millions and Non fund based LC/BG of Rs. 27 millions Pricing : CC-PLR + Tax
presently effective 16.32 % TL- PLR + 0.5 % +
Tax minimum 16.50 % + tax, presently effective 16.83 % LC – As per FEDAI
/ IBA guidelines BG – as per IBA
guidelines Margin : Raw
Materials, Stock in process, finished goods, stored, consumables and
receivables [upto 90 days old] – 25 % Term Loan –
margin to be provided at least 60 % LC / BG Cash
margin 10 % Repayment : Term Loan –
Repayable in 12 equal quarterly installments after a moratorium of 4 months
from the date of first disbursement. Period : Letter of credit
– Maximum usance not to exceed 180 days Bank Guarantee –
maximum validity 12 months |
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5) Name and Address and description of the person entitled to the charge. |
IDBI Bank
Limited, 2 Siri Fort Institutional Area, Khelgaon Marg, New Delhi 110016 |
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6) Date and brief description of instrument modifying the charge |
Letter regarding
the grant of individual limits within the overall limit dated 13.02.1999
accepted by the company. |
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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. |
The terms and
conditions governing the Bank Guarantee facilities allowed to DPPL by IDBI
Bank are now modified to allow issuance of BG upto a BG upto a maximum
validity period of 36 months instead of the 12 months allowed earlier. Other terms and
conditions remaining the same. |
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.40.26 |
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UK Pound |
1 |
Rs.79.88 |
|
Euro |
1 |
Rs.61.26 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
|
63 |
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 |
|