MIRA
INFORM REPORT
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Report Date : |
13.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
IND DRUCK SYSTEM PRIVATE LIMITED |
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Registered Office : |
No.34, Pillaiyar Koil 3rd Street, Ekkattuthangal, Chennai –
600 032, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
12.09.1990 |
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Com. Reg. No.: |
18-19636 |
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CIN No.: [Company
Identification No.] |
U29309TN1990PTC019636 |
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IEC No.: |
0499023170 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEI00586F |
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PAN No.: [Permanent
Account No.] |
AAACI1310C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of offset Printing Machines |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 2600000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having moderate track. The company’s profit
margin is under severe pressure. It’s payments are reported as slow but
correct. The company can be considered for small to mediocre business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. A. Prabahar |
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Designation : |
Director |
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Contact No.: |
91-9381037763 |
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Date : |
10.11.2008 |
LOCATIONS
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Registered Office : |
No.34, Pillaiyar Koil 3rd Street, Ekkattuthangal, Chennai –
600 032, Tamilnadu, India |
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Tel. No.: |
91-44-22251635 |
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Mobile No.: |
91-9381037763/ 984029538 |
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Fax No.: |
91-44-22478035 |
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E-Mail : |
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Area : |
1000 sq ft |
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Location : |
Rented |
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Factory : |
D 7, Self help Industrial Estate, Keelkattalai, Chennai – 600 117,
India |
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Tel. No.: |
91-44-29720377 |
DIRECTORS
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Name : |
Mr. Arunachalam Prabahar |
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Designation : |
Director |
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Address : |
Plot No.31, Eswaran Nagar, 1 Street, Kizhkattalai, Chennai – 600 117,
Tamilnadu, India |
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Date of Birth/Age : |
20.05.1965 |
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Qualification : |
Electrical Engineering |
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Date of Appointment : |
12.09.1990 |
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Name : |
Mr. Jebaraj Daniel |
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Designation : |
Director |
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Address : |
Plot No.3, Easwaran Nagar, B. Path, 1 Cross Street old Pallavaram,
Chennai – 600 117, Tamilnadu, India |
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Date of Birth/Age : |
02.10.1961 |
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Qualification : |
Mechanical Engineering |
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Date of Appointment : |
04.10.1995 |
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Name : |
Mr. D. Alexander Devaraj |
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Designation : |
Director |
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Address : |
281 Rahman Street, Golden Nager, Chennai – 600 107, Tamilnadu, India |
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Date of Birth/Age : |
25.06.1961 |
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Date of Appointment : |
12.09.1990 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Arunachalam Prabahar |
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750 |
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Jebaraj Daniel |
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750 |
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Total |
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1500 |
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of offset Printing Machines |
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Products : |
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Exports : |
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Countries : |
Dubai |
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Imports : |
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Products : |
Machines |
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Countries : |
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Terms : |
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Purchasing : |
Through Bank |
GENERAL
INFORMATION
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Customers : |
End Users
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No. of Employees : |
20 |
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Bankers : |
HDFC Bank, Mandipakkam |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Gopi Kumar and Associates Chartered Accountants |
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Associates/Subsidiaries : |
Elim Printech Services |
CAPITAL STRUCTURE
(As On 29.09.2006)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500 |
Equity Shares |
Rs.100/-
each |
Rs.0.150
Million |
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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0.150 |
0.150 |
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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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0.478 |
0.278 |
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4] (Accumulated Losses) |
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(0.089) |
0.000 |
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NETWORTH |
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0.539 |
0.428 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.539 |
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2] Unsecured Loans |
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0.367 |
0.396 |
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TOTAL BORROWING |
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0.367 |
0.935 |
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DEFERRED TAX LIABILITIES |
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0.000 |
1.127 |
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TOTAL |
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0.906 |
2.490 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.845 |
1.321 |
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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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0.000 |
0.021 |
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Sundry Debtors |
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0.005 |
1.342 |
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Cash & Bank Balances |
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0.030 |
0.041 |
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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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0.119 |
0.161 |
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Total
Current Assets |
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0.154 |
1.565 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.028 |
0.356 |
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Provisions |
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0.065 |
0.040 |
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Total
Current Liabilities |
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0.093 |
0.396 |
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Net Current Assets |
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0.061 |
1.169 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.906 |
2.490 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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0.000 |
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Other Income |
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0.000 |
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Total Income |
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0.000 |
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Profit/(Loss) Before Tax |
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0.200 |
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Provision for Taxation |
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0.046 |
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Profit/(Loss) After Tax |
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0.246 |
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Expenditures : |
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Total Expenditure |
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(0.200) |
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Particulars |
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31.03.2008 |
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Sales Turnover |
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5.000 |
Expected Sales (2008-09) : Rs.8.000 Millions
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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N.A |
N.A |
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Net Profit Margin (PBT/Sales) |
(%) |
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N.A |
N.A |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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20.02 |
N.A |
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Return on Investment (ROI) (PBT/Networth) |
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0.37 |
N.A |
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Debt Equity Ratio (Total Liability/Networth) |
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0.85 |
3.10 |
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Current Ratio (Current Asset/Current Liability) |
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1.65 |
3.95 |
LOCAL AGENCY
FURTHER INFORMATION
Performance of the
Company
The Gross Receipts of the Company during the Fifteenth Year of operation
amounted to Rs.2.812 Millions and reported an Operating Profit Rs.0.246
Millions
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Additional Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 33670904830 |
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IEC Code : 0499023170 |
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PAN / TAN : AAACI1310C |
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Bank Name : HDFC Bank |
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Bank Address : Mandipakkam |
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Bank A/c. No.: 0111200006537 |
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Account Since :4 Years |
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Trade Reference
- Multi Vista
Global Limited, Chennai
- Rajans
Digital Printers
As Per Websites
Established in 1990 by well experienced
engineers, they are a Private
Limited firm which has made a name for itself in the market by its high
quality product range. Their printing machines, polygraph machines and screen
printing machines are supplied to various renowned companies such as Rajams Digital Offset Printing Press, Chennai
Shri Murari Mudranalaya Kolhapur Gold Touch and New Delhi Krishna Packaging,
New Delhi.
Their printing machines are being imported from leading companies such as
Mitsubishi and Komori. After being imported from Japan, Australia, Europe and US, they refurbish these printing
machines by using various sophisticated machines. Moreover, these are offered
with customized solutions along with after sales service such as operational
training and site support. They also offer their clients with various payment
modes such as through bank, Cash, Demand Draft and E-payment.
Subject was incorporated in the year 1990 by well experienced technocrats to give a superior technical support to the Offset Printers in India in Installation, maintainance of the Offset Printing and allied machines of any brand. The company spreaded its wings by manufacturing and supplying import substitute parts to printers with Roland, Heidelberg, Planeta, Miller, Mitsubishi, Akiyama and Komori Multi Color offset printing machines and Post Press machines. The company also undertakes re-building of printing machines both at the customer’s premises and it’s own re- building unit at Chennai. With this vast experience on the second hand machines the company entered into importing used Printing Machines from abroad and selling them after re-furbishing them at Chennai. Today the Company has good customers all over India and abroad.
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.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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25 |
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 |
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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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