MIRA
INFORM REPORT
|
Report Date : |
25.11.2008 |
IDENTIFICATION DETAILS
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Name : |
MEHTA PRINT ARTS PRIVATE LIMITED |
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Registered Office : |
A – 39, Ring Road
Market, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.04.1988 |
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Com. Reg. No.: |
55-31243 of 1988-89 |
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CIN No.: [Company
Identification No.] |
U74899DL1988PTC031243 |
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IEC No.: |
0594061121 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM10657D |
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PAN No.: [Permanent
Account No.] |
AAACM2065J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer,
Exporter, Printing and Distribution of
Public Issue Stationery, Cheque Books, Stationery, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 250000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track. Trade relations are fair.
Profit margin is under severe pressure. Payments are correct and as per
commitment. The company can be
considered for small to mediocre business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office: |
A – 39, Ring Road
Market, |
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Mobile No.: |
91-9810152974 |
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E-Mail : |
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Area |
200 Sq. ft |
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Location |
Leased |
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Corporate Office : |
B – 4/158,
Safdarjung Enclave, |
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Mobile No.: |
91-9810152974/ 9810152502/
9810533146/ 9810611967/ 9910188822 |
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E-Mail : |
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Website : |
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Location : |
Residential |
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Factory : |
15/1, Milestone, |
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Tel. No.: |
91-124-2346477/2346489/
2345619 |
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Mobile No.: |
91-9810434357/
9810152974 |
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Fax No.: |
91-124-2345618/4106977 |
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Area |
8000 Sq. ft |
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Location : |
Leased |
DIRECTORS
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Name : |
Mr. Subhash Mehta
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Designation : |
Managing Director
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Address : |
B – 4/158,
Safdarjung Enclave, |
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Date of Birth/Age : |
27.10.1945 |
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Qualification : |
B. Com |
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Experience : |
38 Years |
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Date of Appointment : |
07.04.1988 |
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Name : |
Mr. Sudhir Mehta |
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Designation : |
Director |
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Address : |
6/13J, |
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Date of Birth/Age : |
04.04.1951 |
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Qualification : |
Diploma in
Mechanical Engineer |
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Experience : |
35 Years |
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Date of Appointment : |
07.04.1988 |
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Name : |
Mr. Sudesh Mehta |
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Designation : |
Director |
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Address : |
6/13J, |
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Date of Birth/Age : |
10.09.1954 |
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Qualification : |
Graduate |
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Experience : |
33 Yeas |
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Date of Appointment : |
07.04.1988 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2007
|
Names of
Shareholders |
|
No. of Shares |
|
Subhash Mehta |
|
6500 |
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Sudhir Mehta |
|
8000 |
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Sudesh Mehta |
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4000 |
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Veena Mehta |
|
4000 |
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Anju Mehta |
|
4000 |
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Sumant Mehta |
|
4250 |
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Sameer Mehta |
|
4250 |
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|
2000 |
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Sudhir Mehta
(HUF) |
|
2500 |
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Sudesh Mehta
(HUF) |
|
2500 |
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Neha Mehta |
|
2000 |
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Suchi Mehta |
|
4000 |
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Surbhi Mehta |
|
2000 |
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Total |
|
50000 |
As on 30.09.2007
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Equity Share
Break-up |
|
Percentage of
Holding |
|
Directors or relatives of the Directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Exporter, Printing and Distribution of
Public Issue Stationery, Cheque Books, Stationery, etc. |
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Products : |
v Machine Made Envelopes (C4, A4, C5, C6, DL, Wage Envelope, Dinner Money Envelope, Board Envelopes, Duke Envelopes, CD Envelopes) v Duplicate Books v Invoice Books v Order Books v Raffle/ Cloakroom Ticket Books v Bingo Tickets v Pads/Envelopes/Pen/Pencil sets v Packing Wrap Sets v Colouring Books for Children v Multi Coloured Activity Paper Sets v Reporters Note Books v Artists Sketch Pad – Multi coloured v Bingo Ticket Boards v Note Books v Writing Pads v Drawing Sheet Pads v Fluorescent Sheet Pads v Packing Rolls v Cheque Books v AGM Notices v Computer Stationery |
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Exports: |
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Products: |
v Booklet v Open-end and peel-and-seal envelopes including seal gum v Side-seam v Conventional remoisten able flaps v Bottom flap v Window applications |
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Countries: |
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Imports: |
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Products: |
v Printing Inks v Stationery Items. |
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Countries: |
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Terms : |
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Selling : |
Credit (30 to 60
days) |
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Purchasing : |
L/C and Credit
(30 days) |
PRODUCTION STATUS
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Particulars |
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Installed Capacity |
Actual Production |
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Envelopes |
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400000 per day |
60% |
GENERAL INFORMATION
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No. of Employees : |
21 (Office – 27,
Factory – 14) |
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Bankers : |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name : |
S K Mehta and
Company Chartered
Accountants |
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Address: |
2682, Gali No.2, Beadonpura, |
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Tel. No.: |
91-11-2572 5156, 2574 3879 |
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Fax No.: |
91-11-2576 1279 |
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E-Mail : |
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Associates/Subsidiaries/ Joint Ventures: |
Vandana Printing Works Private Limited Address: 15/1, Milestone, Date of Incorporation : 04.05.1993 Legal Form :Private Limited Company Paid-up Capital:Rs.2.003 Millions Line of Business
:Printing of Public Issues, Posters, Calendars, Magazines, Security Printers,
Envelope Manufacturing |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 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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1] Share Capital |
5.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
45.187 |
27.725 |
7.019 |
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NETWORTH |
50.187 |
32.725 |
12.019 |
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LOAN FUNDS |
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1] Secured Loans |
32.513 |
4.643 |
7.105 |
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2] Unsecured Loans |
3.657 |
4.858 |
7.073 |
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TOTAL BORROWING |
36.170 |
9.501 |
14.178 |
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DEFERRED TAX LIABILITIES |
4.625 |
1.621 |
1.406 |
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TOTAL |
90.982 |
43.847 |
27.603 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
59.784 |
21.284 |
13.333 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.893 |
0.393 |
0.393 |
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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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Inventories |
4.102 |
14.152 |
3.062 |
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Sundry Debtors |
38.865 |
40.440 |
30.080 |
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Cash & Bank Balances |
19.480 |
8.026 |
2.371 |
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Other Current Assets |
0.197 |
5.497 |
1.461 |
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Loans & Advances |
26.963 |
6.006 |
1.735 |
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Total Current Assets |
89.607 |
74.121 |
38.709 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
41.552 |
40.401 |
24.282 |
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Provisions |
17.750 |
11.550 |
0.550 |
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Total Current Liabilities |
59.302 |
51.951 |
24.832 |
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Net Current Assets |
30.305 |
22.170 |
13.877 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
90.982 |
43.847 |
27.603 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
188.423 |
194.236 |
71.159 |
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Other Income |
0.569 |
0.557 |
1.084 |
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Total Income |
188.992 |
194.793 |
72.243 |
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Profit/(Loss) Before Tax |
26.950 |
31.920 |
1.881 |
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Provision for Taxation |
9.487 |
11.215 |
0.418 |
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Profit/(Loss) After Tax |
17.463 |
20.705 |
1.463 |
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Earnings in Foreign Currency : |
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Total Earnings |
21.921 |
17.121 |
22.214 |
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Imports : |
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Total Imports |
NA |
8.830 |
0.587 |
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Expenditures : |
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Depreciation & Amortization |
5.678 |
2.663 |
1.337 |
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Other Expenditure |
156.364 |
160.210 |
69.025 |
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Total Expenditure |
162.042 |
162.873 |
70.362 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
9.24 |
10.63
|
2.64 |
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Net Profit Margin (PBT/Sales) |
(%) |
14.30 |
16.43
|
4.61 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
17.93 |
33.32
|
3.59 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.54 |
0.98
|
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.90 |
1.88
|
3.25 |
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Current Ratio (Current Asset/Current Liability) |
|
1.51 |
1.43
|
1.56 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The address
of the registered office of the company has been shifted from
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899DL1988PTC031243 |
|
Name of the
company |
MEHTA PRINT ARTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
A – 39, Ring Road
Market, |
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Type of charge |
Book Debts Others (1st
and Exclusive Charge over Current assets) |
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Particular of
charge holder |
Standard Chartered Bank, 10, E-Mail: gkjain1234@rediffmail.com |
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Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement. |
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Date of
instrument Creating the charge |
25.08.2008 |
|
Amount secured by
the charge |
Rs.56.650
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
As per Agreement Terms of
Repayment: As per Agreement Margin: As per
Agreement Extent and
Operation of the charge: Extent and Operation – 100% |
|
Short particulars
of the property charged |
Hypothecation by way of First and exclusive charge over current assets
of the company stored or to be stored at the company’s godowns or premises or
wherever else the same may be. |
Trade References
v Jaiprakash Associates Limited
J A House,
Basant Lok, Vasant Vihar,
Mr. Harish Vaid
v Raj Dealers and Distributors
4/14 A,
Mr. Rahesh Banaor
v Forbo Swiff Adlesives Limited
Bridge Street,
Cattenis, Caubridgeshine,
v Ackerman Group PLC,
v Tallon International Limited
177,
FIXED ASSETS:
- Machinery
- Building
- Generator
- Furniture and Fixtures
- Vehicle
- Tempo
- Air Conditioner
- Office Equipment
- Fire Extinguisher
- Electrical Installations
- Computers
- Three Wheeler
Website Details:
Profile
Subject has evolved today is the culmination of 39 years of tireless quest for excellence after millions of print impressions and an equal number of improvements. They have been engaged in printing and distribution of Public Issue stationery since 1980; and has till date printed and distributed stationery for over 1000 issues, including, Public Issue, Rights Issues and Book building Issues of both Corporate and Public Sector organizations.
A sister concern, Vandana Printing Works Private Limited.
Earned the coveted status of security printers from Reserve Bank of
As they grew in size and dimension, the group earned
goodwill and reputation for offering world class service to its valuable
customers. They have consistently been ranked No. 1 for IPO Stationery in
Exports:
Taking advantage of the fact that gradually the developing
countries had been shedding the manufacturing of simple technology or labour
intensified products, including stationery products, they decided to diversify
into the exports of stationery/ paper related products in 2003 in order to
widen their sphere of activity.
Keeping in mind a keen global focus, they follow all the parameters of quality and production which are of utmost importance to the printing and packaging industry. Today, Exports is a substantial and growing business that adds to the company's turnover.
With the help of the state-of-the-art equipment and machinery and integrated
services, trained personnel and globally recognized quality standards,
they have been exporting to various European markets. They are now
concentrating on developing new markets for their product range. They can work
out the requirements of their customers to give them a range of stationery/
paper related products.
Their Expertise- Envelope Manufacturing:
Manufacturing Envelopes is yet another
service they offer to their clients. As one of the largest envelope
manufacturers in
With the deluge of direct marketing tools being used the world over; innumerous
Direct Mailers are sent in different directions every hour. Handling such a
huge job requires automated mailing systems which in turn needs envelopes
suitable to run on these systems. Having realized this, they worked tirelessly
with
Today, they have achieved an unmatched perfection level which has reduced the
wastage of raw material to practically negligible, increased productivity and
finally resulted in tremendous cost savings.
The automated systems help in maximizing manufacturing
performance for booklet, open-end and peel-and-seal envelopes, including seal
gum, side-seam, conventional remoistenable flaps, bottom flap and window
applications etc. The adhesive that they use for envelope making meets the Food
and Drug Administration (FDA),
Products
for International Market:
v
Machine Made Envelopes (C4, A4, C5, C6, DL, Wage Envelope, Dinner Money
Envelope, Board Envelopes, Duke Envelopes, CD Envelopes)
v
Duplicate Books
v
Invoice Books
v
Order Books
v
Raffle/ Cloakroom Ticket Books
v
Bingo Tickets
v
Pads/Envelopes/Pen/Pencil sets
v
Packing Wrap Sets
v
Coloring Books for Children
v
Multi Colored Activity Paper Sets
v
Reporters Note Books
v
Artists Sketch Pad – Multi colored
v
Bingo Ticket Boards
v
Note Books
v
Writing Pads
v
Drawing Sheet Pads
v
Fluorescent Sheet Pads
v
Packing Rolls
For the Domestic Market
v Fixed Deposit Receipts
v Refund/ Interest/ Dividend Warrants, etc.
v Cheque Books
v Annual Reports and related stationery, e.g. Proxy/ Attendance Slip, EGM/AGM Notices
v Company’s Brochures / Profiles and Posters
v Computer Stationery in single part, multi part both plain and pre
v printed in multi colours with carbon and carbonless paper
v Window and plain envelopes of various types and styles in re-moistenable flap gumming, peel and seal and self-seal latex flap gumming.
Their envelopes have successfully
been used on auto insertion system.
v Railway Tickets in roll and book form
v Bus Tickets in continuous computer stationery and book form
v OMR Answer Sheets
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.50.09 |
|
|
1 |
Rs.74.90 |
|
Euro |
1 |
Rs.63.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|