MIRA
INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAL PUBLICATIONS PRIVATE LIMITED |
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Registered Office : |
No.229, Kutcherry Road, Mylappore, Chennai - 600 004,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.10.2005 |
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Com. Reg. No.: |
057756 |
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CIN No.: [Company
Identification No.] |
U22121TN2005PTC057756 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEK07745D |
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PAN No.: [Permanent
Account No.] |
AACCK6694D |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Printing and Publishing of New Papers |
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 497000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Ms. Sangeeta (Accountant) and Mr. Govindaraju (Finance Manager),
parted required details. Subject is an established company having moderate track. The company
has substantial accumulated losses. Its profit margin is under severe
pressure. Payments are reported as slow. 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 : |
Ms. Sangeeta/ Mr. Govindaraju |
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Designation : |
Accountant/ Finance Manager |
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Date : |
15.11.2008 |
LOCATIONS
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Registered Office : |
No.229, Kutcherry Road, Mylappore, Chennai - 600 004,
Tamilnadu, India |
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Tel. No.: |
91-44-42209191 |
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Fax No.: |
91-44-42209110 |
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E-Mail : |
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Website : |
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Area : |
1000 sq ft |
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Location : |
Owned |
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Factory/ Printing Press : |
Located at Chennai |
DIRECTORS
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Name : |
Mr. Kalanithi Maran |
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Designation : |
Director |
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Address : |
No.4, Second Avenue, Boat Club, Chennai – 600 028, Tamilnadu, India |
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Date of Birth/Age : |
24.07.1965 |
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Date of Appointment : |
08.12.2005 |
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Name : |
Mr. Kavery Kalanithi |
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Designation : |
Director |
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Address : |
No.4, Second Avenue, Boat Club, Chennai – 600 028, Tamilnadu, India |
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Date of Birth/Age : |
06.10.1969 |
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Date of Appointment : |
07.10.2005 |
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Name : |
Mr. Ravilla Manu Ranganathan Ramesh |
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Designation : |
Director |
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Address : |
12, GB-3, Tharangini Apartments, 3rd Seaward Road, Valmiki Nagar,
Thiruvanmiyur, Chennai – 600 041, Tamilnadu, India |
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Date of Birth/Age : |
04.12.1965 |
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Date of Appointment : |
22.12.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 20.09.2007
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Names of Shareholders |
No. of Shares |
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Kalanithi Maran |
9500000 |
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Kavery Kalanithi |
500000 |
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Total |
10000000 |
As on 20.09.2007
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Printing and Publishing of New Papers |
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Exports : |
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Products : |
Papers |
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Countries : |
Singapore, Sri Lanka |
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Imports : |
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Products : |
Printing Machineries |
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Countries : |
Japan, Korea |
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Terms : |
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Selling : |
Cash, Credit 30 days and TT (Export) |
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Purchasing : |
Credit 30/ 60 days |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
1200 |
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Bankers : |
Citi Union Bank, Mandivali Branch, Chennai |
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Facilities : |
Secured Loans :
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Karra and Company Chartered Accountants |
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Address : |
20, II Street, East Abhiramapuram, Mylapore, Chennai – 600 004, Tamilnadu,
India |
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Group Companies : |
Sun Network Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000
millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover (Estimated) |
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2000 |
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Expected Sales (2008-09): Rs.2000 millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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100.000 |
100.000 |
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2] Share Application Money |
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65.000 |
340.537 |
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3] Reserves & Surplus |
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1.363 |
15.155 |
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4] (Accumulated Losses) |
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(66.867) |
0.000 |
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NETWORTH |
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99.496 |
455.692 |
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LOAN FUNDS |
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1] Secured Loans |
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950.670 |
4.001 |
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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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950.670 |
4.001 |
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DEFERRED TAX LIABILITIES |
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80.165 |
5.935 |
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TOTAL |
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1130.331 |
465.628 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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901.318 |
520.116 |
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Capital work-in-progress |
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201.137 |
0.000 |
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INVESTMENT |
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0.002 |
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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38.021 |
23.414 |
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Sundry Debtors |
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291.419 |
64.323 |
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Cash & Bank Balances |
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44.415 |
20.345 |
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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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60.977 |
87.484 |
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Total
Current Assets |
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434.832 |
195.566 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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370.591 |
247.622 |
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Provisions |
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36.732 |
2.918 |
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Total
Current Liabilities |
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407.323 |
250.540 |
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Net Current Assets |
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27.509 |
(54.974) |
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MISCELLANEOUS EXPENSES |
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0.365 |
0.486 |
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TOTAL |
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1130.331 |
465.628 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Income from Printing and Publishing of New Papers |
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1531.264 |
271.804 |
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Miscellaneous Receipts |
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257.919 |
8.704 |
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Total Income |
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1789.183 |
280.508 |
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Profit/(Loss) Before Tax |
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3.566 |
21.409 |
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Provision for Taxation |
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76.705 |
6.254 |
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Profit/(Loss) After Tax |
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(73.139) |
15.155 |
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Expenditures : |
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Direct Expenses |
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1465.253 |
184.863 |
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Administrative Expenses |
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170.696 |
50.658 |
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Selling Expenses |
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49.153 |
13.421 |
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Financial Expenses |
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13.741 |
0.149 |
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Miscellaneous Expenses |
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4.583 |
1.164 |
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Depreciation & Amortization |
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92.350 |
8.844 |
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Effect on Difference in Accounting policy |
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(10.159) |
0.000 |
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Total Expenditure |
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1785.617 |
259.099 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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(4.09) |
5.40 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.23 |
7.88 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.23 |
2.99 |
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Return on Investment (ROI) (PBT/Networth) |
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0.04 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
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13.65 |
0.56 |
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Current Ratio (Current Asset/Current Liability) |
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1.07 |
0.78 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
- Local Market
FINANCIAL RESULTS:
The company earned a profit of Rs.3.566
millions during the financial ended 31.03.2007 and the same was carried over to
the Balance Sheet as Reserves and Surplus. The total income amounted to
Rs.1789.183 millions.
M/s. Kal
publications Pvt Ltd intending to purchase property situated at Tambaram Taluk,
Kancheepura
NEWS:
• M/s. Kal publications Private Limited,
intending to purchase property from its owner M.A. Albin Dhas, Son of Mr. V.
Mariadhas,
• My client M/s. Kal
publications Private Limited, having their office at 229, Kutchery Road,
Mylapore, Chennai- 600004, Proposes to purchase the land measuring 1 Ground
1720 sq.ft. or thereabouts bearing plot No. 170, Nehru Nagar 1st
main Road, Perungudi, Comprised in R.S. No. 317/47A1B situate at Kottivakkam Village,
Tambaram Taluk, Kancheepuram District from its current owner Mr. M.A. Albin
Dhas, Son of Mr. V. Mariadhas, aged 31 years and residing at 4/B, shriram
Street, Venkatapuram, Ambathur, Chennai- 53.
Any person/ institution having any claim or charge over the said
property comprised in the aforesaid survy number shall lodge their claim
together with documentary proof to the undersigned within 7 days from the date
of this notice failing which it would be deemed that there is no claim, charge
or encumbrance whatsoever on the said property.
Y. Anilkumar
Advocate,
T1-A, 3rd Floor, Vasanth Apartments,
41, Giriappa Road, T.Nagar,
Chennai- 17.
Published Date: 06
Nov 2006, 3:12 PM
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 |
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US Dollar |
1 |
Rs.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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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 |
YES |
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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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38 |
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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