MIRA
INFORM REPORT
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Report Date : |
23.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SPEED – O – GRAPHICS [INDIA] PRIVATE LIMITED |
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Registered Office : |
167/37/1, 2nd Main Road, Industrial Town, Rajajinagar, Bangalore – 560044, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.10.2000 |
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Com. Reg. No.: |
08-27912 |
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CIN No.: [Company
Identification No.] |
U74999KA2000PLC027912 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS01867F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Industrial Components and for High Precision Heavy
Engineering Jobs. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 77000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track
records. Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions |
LOCATIONS
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Registered Office : |
167/37/1, 2nd Main Road, Industrial Town, Rajajinagar, Bangalore – 560044, Karnataka, India |
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Tel. No.: |
91-80-23306331 / 23355752 |
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Fax No.: |
91-80-23355752 |
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E-Mail : |
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Website : |
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Factory : |
No. 34/23, 2nd Main Road, Industrial Town, Rajajinagar,
Bangalore – 560044, Karnataka – 560044, India |
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Tel. No.: |
91-80-23306331 |
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Fax No.: |
91-80-23306331 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. P. R. Srinivas |
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Designation : |
Managing Director |
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Address : |
112, VI Main Road, Magadi Road, Chord Road, Vijay Nagar, Bangalore –
560040, Karnataka, India |
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Date of Birth/Age : |
29.01.1950 |
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Date of Appointment : |
05.10.2000 |
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Name : |
Mrs. Sunanda |
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Designation : |
Director |
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Address : |
112, VI Main Road, Magadi Road, Chord Road, Vijay Nagar, Bangalore –
560040, Karnataka, India |
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Date of Birth/Age : |
06.05.1955 |
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Date of Appointment : |
05.10.2000 |
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Name : |
Mr. M Ramaiah |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Parameshwar G Hegde ( Hegde and Hegde) |
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Designation : |
Company Secretary |
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Address : |
“Ganesha Krupa”, 34, 1st main Road, Gandhinagar, Bangalore
– 560009, Karnataka, India |
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Date of Birth/Age : |
91-80-22267041, [Res.] 26589597 |
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Qualification : |
91-80-22204068 |
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Experience : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2006)
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Names of Shareholders |
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No. of Shares |
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Mr. M. Ramaiah |
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12000 |
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Mr. P. R. Srinivas |
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12000 |
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Mrs. Sunanda |
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6000 |
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Mrs. Venkatamma |
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100 |
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Mr. P. R. Krishnappa |
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100 |
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Mrs. Uma |
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100 |
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Ms. Tara L. Salunke |
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50 |
(As on 31.03.2006)
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Category |
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Percentage |
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Bodies corporate |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Industrial Components and for High Precision Heavy
Engineering Jobs. |
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Products : |
· CNC Machining
and Turning Components · Industrial and
Heavy Engineering Components · Auto Parts · CNC Paper
Cutting Machine |
GENERAL
INFORMATION
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Bankers : |
·
State Bank
of India Bangalore City
Branch, J. C. Road, Bangalore |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rao and Swami Chartered Accountants |
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Address : |
2/1 Connught Road, Bangalore – 560052, Karnataka, India |
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 |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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5.000 |
5.000 |
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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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14.151 |
14.381 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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19.151 |
19.381 |
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LOAN FUNDS |
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1] Secured Loans |
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4.876 |
3.004 |
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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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4.876 |
3.004 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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24.027 |
22.385 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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36.881 |
38.447 |
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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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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.764 |
3.434 |
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Sundry Debtors |
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2.765 |
1.936 |
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Cash & Bank Balances |
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0.192 |
0.435 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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4.008 |
2.698 |
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Total
Current Assets |
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9.729 |
8.503 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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21.947 |
24.225 |
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Provisions |
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0.636 |
0.340 |
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Total
Current Liabilities |
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22.583 |
24.565 |
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Net Current Assets |
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[12.854] |
[16.062] |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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24.027 |
22.385 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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7.935 |
9.249 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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7.935 |
9.249 |
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Profit/(Loss) Before Tax |
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0.522 |
NA |
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Provision for Taxation |
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0.000 |
NA |
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Profit/(Loss) After Tax |
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0.522 |
NA |
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Expenditures : |
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Total Expenditure |
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7.413 |
NA
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total
Income |
(%) |
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6.58 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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6.58 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.12 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.03 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.43 |
1.42 |
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Current Ratio (Current Asset/Current Liability) |
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0.43 |
0.35 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Name of the company |
SPEED – O – GRAPHICS [INDIA] PRIVATE LIMITED 167/37/1, 2nd Main Road, Industrial Town, Bangalore,
Karnataka - 560044 Bangalore |
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Presented By |
STATE BANK OF
INDIA, BANGALORE CITY BRANCH, BANGALORE AND SPEED – O – GRAPHICS [INDIA] PRIVATE
LIMITED |
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1) Date and description of instrument creating the change |
Dated 05.10.2000 Agreement of
Hypothecation of goods and assets dated 07.04.2000 Letter regarding
the grant of individual limits within the partnership firm converted into a
company under IX of company act 1956 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.300
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 |
Hypothecation of
all present and future goods, book debt and all other movable assets of the
borrower including receivables by way of cash assistance and cash scheme,
claims including claims by way of refund of customs / excise duties under the
duty draw back credit scheme or any other scheme, bills, invoices, documents,
contracts, insurance polices, guarantees, engagements, securities,
investments policies, guarantees, engagement, securities, investments and
rights and present machinery listed in the schedule hereunto and all future
machinery belonging to or in the possession or under the control of the
borrower wherever lying, stored and kept and whether in possession of the borrower
or of the bank or of any third party whether in India or elsewhere through
out the world including all such goods, other movable assets as may be in
course of shipment, transit or delivery, by way of first charge. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
: 15.3 % p.a. with quarterly rests Margin : 25 % in
all cases Repayment : on
Demand |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India Bangalore City
Branch J. C. road Bangalore |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
AS PER WEBSITE
Profile
Subject is manufacturers of Single colour sheet fed offset printing machines and CNC programmable paper cutting machine.
In the field of printing technology, meet someone who has made a mark so sharp and deep and distinct, that it has passed the test of time. With flying colours.
The company now looks forward to forge long-term technical tie-ups with leaders in the field to explore emerging frontiers of printing technology.
Activities
- Machined Components Medium and Heavy for Exports and all leading
Industries in South India
- Manufacturers of CNC Paper Cutting Machines and Printing Machines
- Surface Grinding of Heavy Components
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.43.15 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.68.10 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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45 |
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
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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 |
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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, we have no basis upon which to
recommend credit dealings |
No Rating |
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