MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
TECHNOVA IMAGING
SYSTEMS PRIVATE LIMITED |
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Formerly Known As : |
TECHNOVA PLATE
MAKING SYSTEMS LIMITED |
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Registered Office : |
Laxmi Mills
Estate, Sakti Mills L, Off. Dr. E. Moses Road, Mahalakshmi – 400011, Mumbai,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.08.1979 |
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Com. Reg. No.: |
11-21599 |
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CIN No.: [Company
Identification No.] |
U74999MH1979PTC021599 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT10262A / MUMT01213C |
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PAN No.: [Permanent
Account No.] |
AAACT2165J |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business : |
Manufacture of Imaging
Products for the Graphic Arts Industry. Exporter of Offset Plates, Chemicals,
Inkjet, Laser, Design and Drawing Media. |
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 1844420 |
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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 and reputed company having fine track. Available information
indicates high financial responsibility of the company. Their trade relations
are fair. Financial position of the company is good. Business is active.
Payments are usually correct and as per commitments. The company is
making satisfactory progress in its business. Trade relations are reported as fair. Payments are usually made
as per commitments. It can be
considered normal for business dealings at usual trade terms conditions. |
LOCATIONS
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Registered
Office : |
Laxmi Mills Estate,
Sakti Mills L, Off. Dr. E. Moses Road, Mahalakshmi – 400011, Mumbai,
Maharashtra, India |
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Tel. No.: |
91-22-24983390 –
98 / 27412081 |
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Mobile: |
91-9820194313 |
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Fax: |
91-22-24950322 |
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Email: |
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Website: |
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Location: |
Owned |
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Overseas
office : |
Located at :
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Factory 1 : |
Laxmi Mills Estate,
Off Dr. E. Moses Road, Mahalaxmi, Mumbai – 400 011, Maharashtra |
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Factory 2 : |
E – 1/2/3, MIDC
Taloja, Raigad – 410208 |
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Tel. No.: |
91-22-27412463 |
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Fax No.: |
91-22-27410261 |
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Branches : |
Located at :
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DIRECTORS
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Name : |
Mr. Pranav N.
Parikh |
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Designation : |
Chairman &
Managing Director |
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Address : |
18 A, Manek, L. D.
Ruparel Marg, Mumbai - 400 006, Maharashtra, India |
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Date of Birth/Age : |
18.02.1943 |
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Qualification : |
B.Com., MBA Havard |
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Date of Appointment : |
29.08.1979 |
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Previous
Employment: |
Printwell |
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Name : |
Mr. Jivan G.
Bhatt |
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Designation : |
Executive
Director and Chief Executive Officer |
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Address : |
301, KT - 29,
Girija, 12th Cross, Malleswaram, Bangalore – 560 003, Karnataka |
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Date of Birth/Age : |
23.10.1952 |
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Qualification : |
M.Sc. (North California State University, U.S.A.) |
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Date of Appointment : |
01.01.1989 |
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Name : |
Ms. Shelina P.
Parikh |
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Designation : |
Director |
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Address : |
18 A, Manek, L.
D. Ruparel Marg, Mumbai - 400 006, Maharashtra |
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Date of Birth/Age : |
25.07.1968 |
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Date of Appointment : |
08.07.1994 |
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Name : |
Mr. Arvind N.
Parikh |
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Designation : |
Director |
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Address : |
8, Palmera, L. D.
Ruparel Marg, Mumbai - 400 006, Maharashtra |
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Date of Birth/Age : |
19.10.1927 |
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Date of Appointment : |
29.08.1979 |
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Name : |
Mr. Jagdish N.
Parikh |
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Designation : |
Director |
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Address : |
6B, Brighton,
Nepean Sea Road, Mumbai - 400 006, Maharashtra |
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Date of Birth/Age : |
07.02.1930 |
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Date of Appointment : |
29.08.1979 |
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Name : |
Mrs. Snehal A.
Parikh |
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Designation : |
Director |
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Address : |
34, Venus,
Altamount Road, Mumbai - 400 006, Maharashtra |
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Date of Birth/Age : |
01.02.1955 |
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Date of Appointment : |
26.12.1988 |
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Name : |
Ms. Nelum P.
Gidwani |
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Designation : |
Director |
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Address : |
92B, Embassy
Apartments, Nepean Sea Road, Mumbai – 400 036, Maharashtra |
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Date of Birth/Age : |
14.02.1941 |
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Date of Appointment : |
08.07.1994 |
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Name : |
Mr. Ashok B. Ghia |
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Designation : |
Director |
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Address : |
23, Gold Fields
Plaza, 45, Sassoon Road, Pune - 411 011, Maharashtra |
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Date of Birth/Age : |
20.02.1942 |
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Date of Appointment : |
26.12.1988 |
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Name : |
Mr. Sripadmange
Kulkarni |
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Designation : |
Director |
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Address : |
201, Moti Mahal,
28 Senapari Bapat Marg, Mahim, Mumbai, Maharashtra India |
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Date of Birth/Age : |
05.11.1942 |
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Date of Appointment : |
18.04.2001 |
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Name : |
Mrs. Maya Pranav
Parikh |
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Designation : |
Director |
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Address : |
18 A, Manek, L D Ruparel
Marg, Malabar Hill Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
27.01.1978 |
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Date of Appointment : |
14.12.2001 |
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Name : |
Mr. Ramkrishnan
Gayathri |
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Designation : |
Director |
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Address : |
10/75, Unnat Nagar
II, Off M. G. Road, Goregaon [East], Mumbai – 400062, Maharashtra, India |
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Date of Birth/Age : |
01.03.1963 |
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Date of Appointment : |
14.03.2007 |
KEY EXECUTIVES
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Name : |
Mr. C. G. Ramakrishnan |
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Designation : |
Chief Operating Officer |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on 31.03.2007) |
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No. of Shares |
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Mrs. Anuradha D.
Benegal |
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3600 |
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Mr. Arvind N.
Parikh |
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124000 |
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Mr. Arvind N.
Parikh – HUF |
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3600 |
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Mr. Jagdish N.
Parikh |
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137200 |
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Mr. Jagdish N.
Parikh – HUF |
|
600 |
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Mrs. Jyotshna N.
Shah |
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3600 |
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Mr. Kishori A.
Parikh |
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3600 |
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Mrs. Maya N.
Parikh |
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96600 |
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Mr. Natvarlal G.
Parikh (HUF) |
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4500 |
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Mrs. Poorvi A.
Parikh |
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3600 |
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Mr. Pranav N.
Parikh |
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850925 |
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Mr. Pranav N.
Parikh (HUF) |
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408600 |
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Mr. Prashant J.
Parikh |
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64800 |
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Mr. Salome P. Parikh |
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71400 |
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Mrs. Savita
Parikh |
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3600 |
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Mrs. Shaila
Parikh |
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6000 |
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Mrs. Shelina
Parikh |
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106200 |
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Mrs. Shraddha
Mashruwala |
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3600 |
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Mrs. Snehal
Parikh |
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64800 |
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Mrs. Sophie Hyams
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1800 |
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Category
(as on 31.03.2007) |
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Percentage of
Holding |
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Directors of relatives of directors |
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99.91 % |
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Other top fifty shareholders |
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0.09 % |
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Total |
|
100.00
% |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Imaging
Products for the Graphic Arts Industry. Exporter of Offset Plates, Chemicals,
Inkjet, Laser, Design and Drawing Media. |
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Products : |
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Exports : |
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Products: |
Oxide Paint, Plates |
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Countries : |
Africa, Middle East, South East Asia, Far East, Europe, united States,
Sri Lanka, Bangladesh, Russian Federation and Australia |
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Imports : |
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Countries : |
Germany, Japan, Singapore, United States and Belgium |
GENERAL
INFORMATION
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No. of Employees : |
750 |
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Bankers : |
v
Corporation
Bank, Industrial Finance Branch, 14, Pune, Mumbai Road, Wakdewadi, Pune –
411003, Mumbai, Maharashtra v
Saraswat
Co-operative Bank Limited, Overseas branch, 1st Floor, Kimatral
Building, 77/79, Maharshi karve Road, Marin Lines, Mumbai - 400020,
Maharashtra, India v
The Saraswat
Co-operative Bank Limited, Nana Chowk Branch, Mumbai-400007, Maharashtra v Citibank N.A., Mumbai, Maharashtra v The United Western Bank Limited v
Bank of
Baroda, Mumbai, Maharashtra v
Corporation
Bank, 21, Dalal Street, Fort, Mumbai-400023, Maharashtra v
Corporate
Bank with other banks, IFB Branch, 104, Bharat House, Ground Floor, Mumbai Samachar
Marg, Fort, Mumbai – 400 023, Maharashtra, India |
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Banking
Relations : |
Good |
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Auditors : |
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Name 1 : |
Khandwala and
Shah Chartered
Accountants |
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Address : |
G/3, 8th Floor, “EVEREST”, Tardeo Road, Tardeo,
Mumbai – 400034, Maharashtra, India |
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Name 2 : |
RSM and Company Chartered Accountants |
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Address : |
Ambit RSM House, 449, Senapati Bapat Marg, Lower Parel, Mumbai – 400
013, Maharashtra, India |
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Associates/Subsidiaries : |
v Technova Graphics Private Limited v Lunar Caustics Private Limited v Lemiur Group of Companies v Technova Hichem Systems (Private) Limited v Technova Imaging Systems INC USA v Technova Reprographic Systems (Private)
Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1980000 |
Equity Shares |
Rs.10/- each |
Rs. 19.800 millions |
|
20000 |
Unclassified Shares |
Rs.10/- each |
Rs. 0.200 million |
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Total
|
|
Rs.
20.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1963700 |
Equity Shares |
Rs.10/- each |
Rs. 19.637 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
19.637 |
19.637 |
19.637 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
441.468 |
414.662 |
323.451 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
461.105 |
434.299 |
343.088 |
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LOAN FUNDS |
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1] Secured Loans |
1625.133 |
595.769 |
867.504 |
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2] Unsecured Loans |
345.704 |
222.219 |
166.874 |
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TOTAL BORROWING |
1970.837 |
817.988 |
1034.378 |
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DEFERRED TAX LIABILITIES |
110.211 |
102.491 |
115.231 |
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TOTAL |
2542.153 |
1354.778 |
1492.697 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1088.668 |
892.965 |
819.178 |
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Capital work-in-progress |
429.479 |
47.282 |
24.336 |
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INVESTMENT |
79.170 |
82.037 |
82.036 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
789.746 |
536.358 |
576.740 |
|
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Sundry Debtors |
419.872 |
336.122 |
294.197 |
|
|
Cash & Bank Balances |
112.985 |
82.540 |
80.551 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
247.386 |
155.323 |
109.841 |
|
Total
Current Assets |
1569.989 |
1110.343 |
1061.329 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
592.507 |
733.599 |
457.448 |
|
|
Provisions |
32.646 |
44.250 |
36.734 |
|
Total
Current Liabilities |
625.153 |
777.849 |
494.182 |
|
|
Net Current Assets |
944.836 |
332.494 |
567.147 |
|
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|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
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TOTAL |
2542.153 |
1354.778 |
1492.697 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
4323.028 |
3525.111 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
4323.028 |
3525.111 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
97.036 |
173.915 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
97.036 |
173.915 |
|
|
|
|
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Expenditures : |
|
|
|
|
|
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Interest |
|
123.275 |
109.387 |
|
|
Depreciation & Amortization |
|
109.612 |
102.584 |
|
|
Other Expenditure |
|
3993.105 |
3139.225 |
|
Total Expenditure |
|
4225.992 |
3351.196 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.24
|
4.93 |
NA |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
2.24
|
4.93 |
NA |
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.14
|
8.15 |
NA |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.40 |
NA |
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
5.63 |
3.67 |
4.45 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.51 |
1.43 |
2.15 |
LOCAL AGENCY
FURTHER INFORMATION
History:
Subject was
incorporated on at Mumbai in Maharashtra having Company Registration Number.
In an
Extra-Ordinary General meeting of the members held on 16th April, 1991,
the scheme of Amalgamation of Technova Graphic Systems Private Limited and
Image Printmakers Private Limited with the company was approved.
Name of the company
was changed to Technova Imaging Systems Limited on 12th April, 1993
and Registered on 14th September, 1993.
Subject has become
a Private Company with effect from 28th February 2001.
FORM 8:-
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74999MH1979PTC021599 |
|
Name of the
company |
TECHNOVA IMAGING
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Laxmi Mills
Estate, Sakti Mills L, Off. Dr. E. Moses Road, Mahalakshmi – 400011, Mumbai,
Maharashtra, India |
|
Type of charge |
Others |
|
Particular of
charge holder |
The Saraswat Co-operative Bank Limited Fort Branch, Fort, Mumbai – 400001, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
hypothecation of vehicles |
|
Date of
instrument Creating the charge |
28.11.2006 |
|
Amount secured by
the charge |
Rs. 4.400
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: R.O.I. 9 % p.a.
or at such rate as may be determined by the Bank from time to time. Terms of
repayment : On demand and if
not demanded earlier by 36 installments of Rs. 0.140 Millions Margin : As determined by
the Bank from time to time. Extent and operation
of the charge This is term loan
facility. |
|
Short particulars
of the property charged |
Hypothecation of
Vehicles [Toyato Inova] and
registered with Regional Transport office at Pen Raigad |
|
Corporation identity number or foreign company registrations number of
the company |
U74999MH1979PTC021599 |
|
Name of the company |
TECHNOVA IMAGING SYSTEMS
PRIVATE LIMITED |
|
Address |
Laxmi Mills Estate,
Sakti Mills L, Off. Dr. E. Moses Road, Mahalakshmi – 400011, Mumbai,
Maharashtra, India |
|
This Form is for |
Modification of Charge |
|
Type of Charges |
· Immovable property · Book Debts · Movable property · Floating Charge |
|
Particular of the charge holder
|
Corporation Bank Address: Industrial Finance Branch ,
Bharat House No. 104, Ground Floor, Mumbai Samachar Marg, Fort, Mumbai – 400
023, Maharashtra, India E-Mail: vlaxman@vsnl.com
|
|
Nature or description of the instrument creating charge |
· Joint supplemental Deed of hypothecation · Joint supplemental working capital consortium agreement · Supplemental Inter se Agreement , and · Memorandum of entry · Collectively constitute a single charge for Rs. 3304.300 millions |
|
Date of the instrument creating charge |
19.10.2007 |
|
Amount Secure by the charge |
Rs. 3304.300 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : As may be stipulated by each of the member bank from time to time Terms of repayment Working capital facilities to be repayable on demand and Term Loans to
be repayable in accordance with the terms and conditions stipulated in
respective sanction letter of corporation bank and Saraswat Cooperative Bank
limited and / or as stated in the relevant security document as amended from
time to time Margin: As may be stipulated by each of the member bank from time to
time. Extent and operation of the charge: Hypothecation of current assets and movable fixed assets to secure
working capital and term loan facilities as specified in Item No. 14 and The
company accorded And Gave oral consent to bank to continue to hold retain the
title deeds Others: The charge created herein by the company shall be on pari passu inter
se the members of corporation bank consortium to secure the working capital
facilities for all purposes and to all intents without any priority of one
over the other or others and the charge created herein by the company shall be on pari passu inter se corporation bank and Saraswat
coop bank for their term loan for all purposes and to all intents without any
priority of one over the others. |
|
Short Particulars of the Property charged |
· Hypothecation by way of pari passu First charge on current assets to secured working capital facility and movable fixed assets to secure term loan facilities · Pari passu second charge on movable fixed assets to secured working capital and current assets to secures term loan facilities · Immovable properties |
|
Particulars of the present modification |
The consortium charges shall now stands increase / modified / revised limits from Rs. 2498.750 millions to Rs. 3304.300 millions in favour of the members of corporation bank consortium. |
Profile
Subject is largest manufacturer of offset plates, chemicals,
inkjet, laser and design and drawing media, outside of the Americas, Europe and
Japan. The company's product offering includes a full range of consumables for
conventional as well as digital imaging systems for various industries. Subject
its products in over 51 countries through its overseas offices and global
distribution network.
ISO 9001:2000 Company
Over 70% market share for each of its products in the Indian
sub-continent
Won the prestigious GATF 1995 InterTech Technology Award for
its NovaDom Computer-to-Plate technology
Received the Davos-based World Economic Forum's Global Growth
Company Award in January 1997
Alliances with :
Agfa-Gevaert N.V. for the manufacturing of offset plates
(analog and digital) and chemistry; and marketing of CtP Systems;
Hydro Dynamic Products PLC, for the manufacturing of
pressroom chemicals;
Value
On-line
Tech Support
TechNova
Knowledge eXchange (TKX) eBulletins and eLibrary
Plant Audits and Technology Roadmaps
In Plant and Classroom Trainings; Industry Seminars
Subject is one of the world's largest manufacturers
of digital and analog offset plates, chemicals, inkjet, laser and drafting
media. Products include a full range of consumables for conventional and
digital imaging systems for advertising, photography, signage, printing and
packaging as well as textiles, engineering, architecture, geology and business
graphics. Our technology alliance partners are Agfa (for offset plates and
chemicals) and HDP (for chemicals).
Along with Agfa, Subject is the only
company in the world manufacturing the full range of CtP consumables i.e.
inkjet photo papers for CtPhoto; inkjet proofing paper for CtProof; Thermal,
Violet and UV metal plates for CtPlate; inkjet and laser polyesterplates for
CtPoly; and desktop, large format and lasermedia for CtPrint.
Subject enjoys market shares of over 70% in each
product category in the Indian subcontinent for over three decades, and
significant market shares in targeted export countries. Subject products are
marketed in over 51 countries, backed by total performance and the lowest
cost-in-use guarantees.
Subject is
an ISO 9001-2000 registered organisation and has received the prestigious
"GATF 1995 InterTech Technology Award", the Davos-based World
Economic Forum's "Top-performing, Global Growth Company Award" (1997)
as well as the "Technology Pioneer Award" (2000).
Subject manufactures its products in India (Bombay), in
factories that are recognised to be on par with the best in the world. The
plant capacity for offset plates and chemicals is 5th largest in the world, and
for inkjet media, amongst the top 10.
Press release
Wednesday, October
06, 2004
TechNova, one of the world's largest manufacturers
of digital and analog offset plates, chemicals, inkjet, laser and drafting
media, will be showcasing an array of innovative CtP solutions at PrintCity
(Hall 06, Stand A07) at drupa 2004. Some of them are :
v PolyJet : World's First Inkjet,
NoProcess, Computer-to-Plate-to-Press System
v Thermostar TN : World's Fastest
Long-run CtP Thermal Plate
v Argos : World's Fastest CtCP,
Negative working, Analog and Digital Plate
v NovaDom Platinum : Extra
Long-run version of World's Largest selling brand of Laser Polyester Plate
v PosiJet : Digital Silverless
large format inkjet CtPositive Film
v TotalCare : NextGeneration FOGRA
approved Fount
v Stardust : Ultra-long bath life,
universally compatible thermal plate developer
v NovaJet Inkjet Photographic
Paper : Ideal for true-to-life photographic prints from cameras, scanners and
photo CDs
TechNova's product offering includes a full range
of consumables for conventional and digital imaging systems for advertising,
photography, signage, printing and packaging as well as textiles, engineering,
architecture, geology and business graphics.
Its overseas offices and distribution network market its products to over 51
countries. TechNova is now recognised as :
World's
fifth largest manufacturer of Digital and Analog PlatesWorld's first and
largest manufacturer of Laser Polyester Plates
World's
first and only manufacturer of Inkjet Polyester Plate
World's
sixth largest manufacturer of Printing Chemicals
World's
widest portfolio of Inkjet and Laser Media
In addition, TechNova has also received global recognition
through the following awards :
GATF
1995 InterTech Technology Award
World
Economic Forum Awards (Davos)
TechNova's stand at PrintCity will be like a virtual CtP arena for a number of
cutting-edge products for Computer-to-Plate, Computer-to-Positive,
Computer-to-Photo, Computer-to-Proof and Computer-to-Print technologies. Next
generation graphic arts chemistry, with a focus on CtP Chemistry as well as
Founts and Washes that meet with FOGRA specifications, will also occupy a place
of prominence at the stand.
Listed below are the "Must see 'em" products at
TechNova's Stand at PrintCity.
Computer-to-Photo,
Computer-to-Proof and Computer-to-Print
Computer-to-Plate:
World's First Inkjet NoProcess Computer-to-Plate-to-Press System :
"PolyJet"
A technological
breakthrough and a first-in-the-world product is the revolutionary PolyJet
CtPolyester Plate. Four-colour jobs can be imaged on the plate using PolyJet
wide format inkjet printer (based on Epson 7600). Imaged plates go directly to
the press without any chemical processing. PolyJet plate would be ideally
suited for the two and four page format presses for low-cost two and
four-colour short-run jobs of 10000 to 20000 impressions.
Unique features are :
High-resolution
capability of plate surface allows stochastic screening for excellent tonal
gradation and details.
Flawless
solid and reverse text reproduction.
Dot
gain conforming to industry standards.
Excellent
ink/water balance characteristics ensure brilliant prints, matching those of
metal presensitised plates.
Totally
dry Computer-to-Plate-to-Press process. No Imagesetter. No Platesetter. No
Processor. No Chemistry. No Fuss.
Lowest
cost CtP system in the world.
International
launch of Thermostar TN
One of
the biggest pre-drupa announcements from India has been the launch of
TechNova's Thermal Plate. This plate, Thermostar TN, which has been developed
and patented by Agfa, will be commercially manufactured at TechNova's
state-of-the-art plant in India.
Thermostar TN is sensitised to 830 nm and is based on an innovative coating
technology, offering fast imaging, convenient handling, and is ideal for
stochastic or FM screening. Thermostar TN has been designed for high-end
commercial printing applications and can achieve run-lengths up to 150,000
impressions (which can be extended up to one million impressions with baking);
and 1 - 99% dot resolution using 250 lpi screen ruling.
And that's not all! These plates can be handled easily and conveniently in daylight
conditions, eliminating safelights and separate work areas. Besides which, they
are as easy to develop, wash, and gum as they are to image, since Thermostar TN
plates use conventional processing chemistry.
TechNova has painstakingly ensured that Thermostar TN can be integrated with
the leading platesetters. These include several new systems which will be
presented at drupa 2004.
TechNova's Thermostar TN plates have been in use in almost all the CtP print
shops in India for the past several months and the feedback has been
astounding. Users have given top ranking to Thermostar TN for speed, latitude
and reproduction.
Print samples from TechNova's Thermostar TN plates, TechNova's Argos CtCP
plates and TechNova's Athena presensitised plates will be displayed for
examination by visitors. All the three samples will be printed using the same
images and under identical conditions. (Don't miss the stunning pictures of
former Ms. World, Aishwarya Rai and the beautiful Madhuri Dixit!)
Argos and Athena announce their arrival
drupa
2004 will witness the introduction of TechNova's Argos CtCP plate, a long-run,
negative-working plate. Argos is a step forward in an attempt to enhance the
finer results of conventional plates. It has a very short exposure time and a litho-grade
electromechanically grained and anodised substrate, which permits productive
imaging of the plate. The manufacturing technology is similar to Agfa's Zenith
N555, the world's most popular negative-working plate. Argos' improved
sensitiveness makes it ideal for the newspaper segment.
TechNova is also launching Athena, the next generation positive-working plate,
recommended for run-lengths up to 250,000 impressions. This high pedigree plate
has given TechNova a cult status in the Indian printing industry.
GATF 1995 InterTech Technology Award Winner : NovaDom Laser Polyester Plates
Live demos of
NovaDom Laser Plates, the GATF InterTech Award Winner will be worth witnessing.
NovaDom plates can be imaged on both sides using the HP 5000 series or Xanté
laser printers, and taken directly to the press for printing.
Special features are :
HP
approval for corrosion-free performance; safeguards the laser printers.
Run-length
capability of approx. 50,000 copies from one side and 10,000 copies from the
other side of the plate (or 20,000 copies from both sides of the plate), under
recommended imaging and press conditions.
Zero
toner scatter in the background areas, when imaged on HP, Xanté or other
recommended laser printers and copiers.
Excellent
roll-up properties minimise start-up and restart paper wastage.
NovaDom has revolutionised the small offset plate scenario since 1995,
especially in the US, and is currently the global leader in laser polyester
plates. NovaDom has enhanced the competitiveness of small offset printers by
providing them with long-run plates at a fraction of the cost of a conventional
or CtP metal plate.
Computer-to-Positive :
World's First Clear Inkjet Film : "PosiJet"
Another
"First" from TechNova is PosiJet, a clear (i.e. fully transparent)
inkjet film, which can be imaged on Epson 7600 to serve as an offset positive
or screen-printing positive. PosiJet film is designed to produce
high-resolution four-colour plate-ready positives in 2, 4 and 8 page formats,
with UV-density matching silver-based films. PosiJet offers the lowest cost
computer-to-film solution, ideally suited for newspapers, book and magazine
publishing, and several other applications currently using expensive
silver-based films. All it needs is a recommended inkjet printer for outputting
pages created on standard page-composition workstations. Features that would
make PosiJet demos a "must-see" :
Fully
transparent inkjet film. Looks and feels like a silver-based film.
Ideal
for preparation of one piece positives for tabloid and broadsheet newspapers.
Single,
spot and pleasing full colour reproduction capability.
Totally
dry Computer-to-Film-to-Plate process. No Camera. No Darkroom. No Imagesetter.
No Platesetter. No Processor. No Chemistry. No Hassles.
Unbeatable
value for money.
Live demonstrations at the Stand using customer-supplied files will be
convincing.
Laser Film with Silver-like UV-Density : "NovaSharp Diamond"
During
the 90's, TechNova's NovaSharp range of laser films, (which can be imaged on
laser printers to serve as plate-ready positives), enabled the newspapers to
effect significant savings by substituting expensive silver-based camera and
imagesetter films. NovaSharp Crystal, Pearl and Topaz Laser films have become
industry favourites for single and spot colour work. NovaSharp Diamond, the new
version, is designed for producing low-cost four-colour separations on
high-resolution laser printers such as the HP 5000 series and Xanté. The
special feature of this product is the high UV-density of the image, which
further facilitates substitution of silver-based films.
Computer-to-Photo, Computer-to-Proof and Computer-to-Print :
Within a short span of time, TechNova has helped popularise the use of inkjet
media for various Desktop and Large Format applications. Particularly
noteworthy for the Graphic Arts industry are the inkjet proofing and
photographic papers. TechNova offers the widest and most exciting range of
world-class Inkjet Papers, Films, Vinyls and Specialty media for Desktop and
Large Format applications.
Prints on the award winning NovaJet TruePhoto Inkjet Photographic Paper of
digital photographs, using Epson and HP desktop printers at the stand, are
indistinguishable from silver-based photo prints.
For the Large Format display, the demonstrations will include prints on NovaJet
Gloss and Matte Papers and Films for indoor and outdoor applications, using an
HP Large Format Printer.
NovaJet Inkjet Media for Large Format printing will include : Matte and Gloss
Papers and Films; Outdoor Films; Backlit Films; Specialty media such as Canvas
and Silver Metallic Film.
NovaJet Media for Desktop printing will include : Inkjet Photographic Papers
(in substrates ranging from 130 - 270 gsm) for true-to-life photographic
prints; Inkjet PhotoMatte Papers for presentations and concept proofs;
Transparency Film for OHP presentations; Specialty Media such as Heat Transfer
Papers, Opaque Gloss Films, etc; Artistic Media in a variety of colours and
textured surfaces like Canvas-finish, Weave-finish, etc.; Colour Laser Media
for colour laser printers that include Papers, Transfers and Films;
Multipurpose Adhesive-backed Labels in various shapes and sizes, including CD
labels, etc.
Next Generation CtP Chemistry :
TechNova, in keeping with the global trend for the high-end printers to insist
on using high-performance products that meet with FOGRA specifications, will be
launching an array of next generation fountain solutions and press washes for
high-speed sheetfed and web offset applications. These products are
manufactured in technical collaboration with Hydro Dynamic Products, U.K., and
are the current rage in Europe. The products have been under field-testing for
the past several months in India, and have met with amazing customer response.
Next Generation Founts
TotalCare
Fount for high-speed sheetfed presses and heat-set web presses.
Gives complete calcium control at all levels
of water hardness and all paper and ink types.
Enables reduction
of Isopropanol/IPA usage by 50%.
Safe on all metal
plates and is free from harmful components.
The ultra low-foam
formulation is suitable for all water types, whether RO, soft, hard or
deionised.
Special ingredients
prevent the build-up of impurities and films, previously hard to control in
tanks and pipework.
CrownJewel Fount
for high-speed cold-set web presses.
Corrosion inhibited
to FOGRA specifications.
Specially
formulated for compatibility with spray and turbo dampening systems.
Runs at low water settings
with wide latitude, making it easy to set up and adjust for optimum performance
with cold-set inks, varying quality of newsprint and dampening systems.
Water uptake by the
ink is fast but controlled for lightening quick attainment of the perfect ink/water
balance with excellent over-emulsification resistance.
Contains very high
levels of anti-linting agents that effectively reduce mean times between
blanket washes.
The ultra-low foam
formulation removes problems associated with previous generations of strongly
wetting fountain solutions.
Alcohol Substitute
AlcoZAP
Concentrated Alcohol Substitute for Zero Alcohol Printing.
Incorporates the
best available IPA replacement with the widest latitude for universal use in
sheetfed offset printing.
Achieves Zero
Alcohol Printing with minimum compromises and adjustments of press settings.
When used with
TotalCare Fount, AlcoZAP offers the customer the versatility of enhanced
quality without the use of IPA.
Clean-air Washes
HMK Washes.
Certified by FOGRA for MAN Roland, KBA-Planeta and Heidelberg presses.
Aromatic-free press wash-up concentrates.
Comprehensively
addresses the possibility of press corrosion. It is corrosion inhibited to
FOGRA specifications for Heidelberg, MAN Roland and KBA presses.
Equally suitable
for manual and automatic cleaning machines using both scrubber and spray type
devices.
Available in both
types : water miscible as well as non-water miscible. Water miscible wash has
wide latitude, making it easy to set up and adjust for optimum performance.
The absence of
aromatic compounds and chlorinated hydrocarbons makes it safer and
user-friendly.
With its high flash
point, HMK Wash 1 is ideal for use on heat-set machines.
Exports
Subject has participated
in Drupa 2004 Exhibition at Dusseldorf, Germany during May, 2004. The response
from international graphic arts community for the company’s products has been
encouraging during the year resulting into reasonable growth in it’s export
achievements.
The benefits
derived due to technical collaboration and in-house product development in
chemical and films division has gone towards improving the product quality and
also yielded improvement in the ultimate analysis. Besides due to
infrastructural development the hygiene and the manufacturing methods have
considerably improved. The company is moving towards achieving operational
excellence.
The company is
continuously making vigorous efforts in exploring overseas markets and has been
receiving interesting export enquiries. The company’s products are finding
increasing acceptance by the overseas markets. The company has already
established offices in U.K., U.S.A. and Sri Lanka for promoting the products in
international markets.
It exports Novadom
Films to Asia, Europe and U.S.A.
It imports from
Asia, Europe and Middle East.
The company
operates in collaboration with AGFA, U.S.A.
The company’s fixed
assets of important value includes Goodwill, Freehold Land, Leasehold Land,
Buildings, Plant and Machinery, Furniture, Fixtures, Airconditioners, Office
Equipments and Computers and Vehicles.
TechNova
@ Sign and Graphic Imaging ME 2007
Dubai
World Trade Center, Dubai
27th February - 1st March, 2007
TechNova introduced a comprehensive range of large format media at the recent
Sign and Graphics Imaging ME 2007, in Dubai.
Visitors were Enthralled by TechNova's inkjet media for various Desktop and
Large Format applications. Almost all of them agreed that TechNova offers the
widest and most exciting range of world-class Inkjet Papers, Films, Vinyls and
Specialty media for Desktop and Large Format applications.
Over the years, TechNova has successfully leveraged its decades of experience
in coating of conventional and digital imaging substrates, to produce an
impressive range of inkjet media for the large format segment. Marketed under
the brand names, "NovaJet" and "NovaSign", these media
empower printers to effortlessly transform their ordinary digital prints into
works of art!
At the simple, yet elegant stand at Sign and Graphic Imaging ME, TechNova
showcased their comprehensive range of large format media, for the Signage and
Graphics industry. Stunning images printed on various media, were the key attraction
of the TechNova stall. The media on display included :
- NovaJet
Backlit Front Print PET Film 175
- NovaJet
PhotoMatte PVC Film 100 SA
- NovaJet
PhotoGloss PET Film 50 SA
- NovaJet
PhotoSatin PVC Film 175
- NovaSign
PosterSatin PVC Film 100 SA
One constant feedback was that visitors were delighted that
they could touch and feel the finish and texture of the media, as these were
most effectively displayed as printed rolls at the stand. The stall was awash
with colours, and was filled with bright and vibrant images that kept the
visitors mesmerised. No wonder, people gravitated towards the TechNova stall,
which was one of the most visited stalls at the exhibition.
Bhuwan Upreti, Territory Sales Manager, Digital Print Media, explained that the
NovaJet media range consisted of inkjet photo papers (PE and RC), films (PET,
PP, PVC), cloth, canvas and specialty media with a choice of surface finishes
(gloss, satin, matte), display properties (frontlit and backlit), in various
sizes and thicknesses, with and without self-adhesive backing. On the other
hand, he explained, the NovaSign range consisted of solvent vinyl and
lamination film with self-adhesive backing.
"NovaJet and NovaSign media are manufactured using one of the world's most
sophisticated coating and converting plant. It utilises leading-edge
ink-receptive layer formulations and coating technologies. The end-result is a
range of products that match and occasionally, even surpass features of the
best products in the world." explained Upreti.
One of reasons for popularity of TechNova in Dubai isthat they offer more than
just high-quality large format media for their customers. TechNova provides
complete media solutions, including a full spectrum of value-added services to
help printers produce zero-defect digital prints, print-after-print. These
include :
Media Selection :
Media performance is significantly affected by factors like Image
Characteristics, Printer Technology, Ink Formulation, Print-shop environment,
Post-printing Applications, Finishing, End-usage, etc. With TechNova's industry
experience and product knowledge, their Application Specialists help printers
identify external factors and assist them in selection of the right media for
their jobs.
Colour Management :
Each NovaJet media type comes with its own ICC profile, designed for optimum
colour rendition. TechNova's Colour Management team also offers their services
to help customers create customised profiles to match their particular
requirements.
Trouble-shooting :
TechNova's TechSupport team studies any problems faced by the printers,
simulates them in their state-of-the-art Application Lab and provides customers
with on-site solutions that work.
Logistics Support :
TechNova's extensive logistics network ensures that all the popular NovaJet
media types are available off-the-shelf in all the important print centres.
Lowest Cost-in-Use :
TechNova is committed to providing customers with a value-for-money package
consisting of product performance, support services, and logistics management,
which result in lower cost-in-use than any other brand offering in the
industry.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The
Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.89 |
|
UK Pound |
1 |
Rs.84.84 |
|
Euro |
1 |
Rs.67.61 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
68 |
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/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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|