MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
GOPSONS PAPERS LIMITED |
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Registered Office : |
T-2, Akarshan Bhawan, IVth Floor, 4754/23, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.08.1984 |
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Com. Reg. No.: |
55-18868 |
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CIN No.: [Company
Identification No.] |
U22219DL1984PLC018868 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELG06342A |
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PAN No.: [Permanent
Account No.] |
AAACG1067C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer, Importer and Exporter of Security Printed Documents, Excise Labels,
Holograms, Security Stamps, Banker's Cheques, Fixed Deposit Receipts/Call
Deposit Receipts, Lottery/Bingo and Lotto Tickets, Bus/Railway and Airline
Tickets, Ballot Papers, Trade Tax Forms and Tax Stamps. |
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 4000000 |
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Status : |
Satisfactory |
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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 satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered/ Corporate/ |
T-2, Akarshan Bhawan, IVth Floor, 4754/23, |
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Tel. No.: |
91-11-23283255 / 23281450 / 23289616/ 23289626 |
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Fax No.: |
91-11-23276360 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. ft. |
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Location : |
Owned (Commercial) |
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Factory 1 : |
C-26,
Sector-57, Noida-201301, |
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Area : |
800 Sq. ft. |
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Location : |
Owned (Industrial) |
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Factory 2 : |
A-28, Sector-09, Noida-201301, |
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Branch 1 : |
A-14, Sector 60, Noida, |
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Tel. No.: |
91-120-2580395/ 2580424/ 2580160 |
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E-Mail : |
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Branch 2 : |
A-2 and 3, Sector – 64, Noida – 201301, |
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Tel. No.: |
91-120-2401673/ 2401672/ 2401671 |
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E-Mail : |
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Branch 3 : |
Sales – Contact Person: Mr. Patrick Clayton |
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Tel. No.: |
49-0-30 318 02 024 / 025 |
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Fax No.: |
49- 0-30 318 03 587 |
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Mobile No.: |
0172 16 23 994 |
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E-Mail : |
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Homepage : |
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Branch 4 : |
Sales – Contact Person: Mr. Iqbal Lodhia |
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Tel. No.: |
1 916 786 7373 |
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Fax No.: |
1 916 786 7393 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Sunil Dutt Goel |
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Designation : |
Managing Director |
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Address : |
21-B, Sri Ram Marg,
Civil Lines, New Delhi-110054, |
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Date of Birth/Age : |
06.07.1954 |
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Qualification : |
Graduate |
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Date of Appointment : |
02.08.1984 |
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Other Directorships : |
Gopsons Print and Pack
Private Limited, |
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Name : |
Mr. Anil Kumar Goel |
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Designation : |
Director |
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Address : |
21-B, Sri Ram Marg,
Civil Lines, New Delhi-110054, |
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Date of Birth/Age : |
25.03.1959 |
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Date of Appointment : |
24.08.1985 |
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Name : |
Ms. Suman Goel |
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Designation : |
Director |
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Address : |
7-G, Vishwa Apartments, Civil Lines, |
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Date of Birth/Age : |
15.04.1960 |
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Date of Appointment : |
02.08.1984 |
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Name : |
Mr. Rattan Lal Dembla |
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Designation : |
Director |
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Address : |
20, |
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Date of Birth/Age : |
03.11.1955 |
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Date of Appointment : |
24.08.1985 |
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Name : |
Mr. Nitin Goel |
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Designation : |
Director |
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Address : |
7-G, Vishwa Apartments, 3, Shankaracharya Marg, Civil
Lines, |
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Date of Birth/Age : |
25.01.1971 |
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Date of Appointment : |
01.02.1996 |
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Name : |
Mr. Vasant Goel |
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Designation : |
Director |
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Address : |
21-B, Sri Ram Marg, Civil Lines, New Delhi-110054 |
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Date of Birth/Age : |
12.07.1979 |
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Name : |
Mr. Gaurav Goel |
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Designation : |
Director |
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Address : |
21-B, Sri Ram Marg, Civil Lines, New Delhi-110054 |
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Date of Birth/Age : |
25.10.1981 |
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Date of Appointment : |
09.01.2004 |
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Name : |
Mr. Mukesh Goel |
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Designation : |
Director |
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Address : |
D-979, New Friends Colony, |
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Date of Birth/Age : |
19.02.1981 |
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Date of Appointment : |
31.03.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
No. of Shares |
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R. N. Polyplast Private Limited |
1283333 |
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Chander Prabh Publication |
1029000 |
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Anil Kumar Goel (HUF) |
701283 |
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Chander Prabha Goel |
532000 |
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Anil Kumar Goel |
443684 |
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Nitin Goel |
382900 |
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Sunil Dutt Goel |
365633 |
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Suman Goel |
152952 |
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Mukesh Goel |
100742 |
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Gaurav Goel |
96192 |
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Chanchel Goel |
90300 |
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Rattan Lal |
81433 |
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Rupal Goel |
78400 |
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Satish Chander Goel |
64400 |
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Vidyawati Goel |
60429 |
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N.K. Sangal |
58333 |
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Vasant Goel |
53083 |
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B.L. Singhal |
48417 |
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Goel S.D. & Sons |
43169 |
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Uma Sapra |
39667 |
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K.L. Chawla |
28000 |
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Bhuvenesh Kumar Raji |
26250 |
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Vipul Kalra |
19833 |
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Renu Kalra |
19833 |
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Shyama Goel |
18900 |
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Sharad Goel |
18433 |
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Satpal Anand |
14700 |
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Gauri Devi |
12833 |
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Narender Garg |
11667 |
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Rajiv Garg |
11667 |
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Sushma Singhal |
8867 |
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Bharti Dembla |
7933 |
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Satish Chander Jain |
5833 |
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Anita Khanna |
5833 |
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Sudershan Gaur |
4667 |
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Munish Khanna |
4433 |
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Manoj Mathur |
3500 |
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Naresh Kumar |
3500 |
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Prakash Mohan Gupta |
3500 |
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Garima Goel |
2917 |
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K.D. Mathur |
2333 |
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M.D. Shah |
2100 |
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Meena jain |
1867 |
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Gemini Paper Mart |
1167 |
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Ram Avtar Gaur |
1167 |
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Ranjan M. shah |
1167 |
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Shruti M. Shah |
1167 |
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Rajiv Bhagat |
233 |
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Gopal Paper Mart |
233 |
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Jhaman Dass |
117 |
(As on 31.03.2007)
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Category |
Percentage
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Bodies Corporate |
42.00 |
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Directors or relatives of director |
54.00 |
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Other top fifty shareholders (other than listed above) |
4.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Importer and Exporter of Security Printed Documents, Excise Labels,
Holograms, Security Stamps, Banker's Cheques, Fixed Deposit Receipts/Call
Deposit Receipts, Lottery/Bingo and Lotto Tickets, Bus/Railway and Airline
Tickets, Ballot Papers, Trade Tax Forms and Tax Stamps. |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Contract, L/C or Credit (30 days) terms |
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Purchasing : |
Contract, L/C or Credit (30-60 days) terms |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
Actual
Production |
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Printing of Books/Paper (Impression) |
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200000000 |
19515771 |
GENERAL INFORMATION
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Suppliers : |
Some of its major suppliers include:
v
J. K. Paper Limited, v
Abhishek Industries Limited, v
Star Paper Mills Limited, |
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Customers : |
Its major customers include government bodies and publishers.
Some of its major customers include:
v
Random House UK Limited, v
John Wiley and Sons (Asia) PTE Limited, |
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Products : |
Generic Names of the Principal Products / Services of the company are :
v Books v Paper v Paper / Art Paper |
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No. of Employees : |
200 |
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Bankers : |
Chawri Bazar, New Delhi-110006, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sapra Sharma and Associates Chartered Accountants |
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Address : |
23, Prakash Apartements, 5, |
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Associates/Subsidiaries : |
v
Chandra Prabha Publications Private Limited, v
Gopsons Print and Pack Private Limited, |
CAPITAL STRUCTURE
Authorised 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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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
70.000 |
59.500 |
59.500 |
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2] Share Application Money |
7.980 |
0.769 |
0.769 |
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3] Reserves & Surplus |
374.690 |
331.718 |
158.450 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
452.670 |
391.987 |
218.719 |
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LOAN FUNDS |
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1] Secured Loans |
313.671 |
371.620 |
260.915 |
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2] Unsecured Loans |
26.564 |
26.789 |
20.981 |
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TOTAL BORROWING |
340.235 |
398.409 |
281.896 |
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DEFERRED TAX LIABILITIES |
54.713 |
51.193 |
47.499 |
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TOTAL |
847.619 |
841.589 |
548.114 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
584.626 |
592.476 |
388.352 |
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Capital work-in-progress |
1.510 |
1.054 |
6.522 |
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INVESTMENT |
6.265 |
0.041 |
0.041 |
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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 |
150.030
|
92.592 |
70.236 |
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Sundry Debtors |
283.085
|
273.741 |
152.796 |
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Cash & Bank Balances |
31.424
|
19.718 |
25.845 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
59.478
|
53.898 |
43.616 |
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Total
Current Assets |
524.017
|
439.949 |
292.493 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
265.619
|
185.147 |
129.343 |
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Provisions |
3.180
|
6.784 |
9.951 |
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Total
Current Liabilities |
268.799
|
191.931 |
139.294 |
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Net Current Assets |
255.218
|
248.018 |
153.199 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
847.619 |
841.589 |
548.114 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
1035.041 |
1029.826 |
824.426 |
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Other Income |
11.760 |
24.980 |
4.354 |
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Total Income |
1046.801 |
1054.806 |
828.780 |
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Profit/(Loss) Before Tax |
64.112 |
86.088 |
68.458 |
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Provision for Taxation |
10.486 |
17.717 |
24.557 |
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Profit/(Loss) After Tax |
53.626 |
68.371 |
43..901 |
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Expenditures : |
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Raw Material Consumed |
605.576 |
612.066 |
476.937 |
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Purchases made for re-sale |
1.212 |
6.521 |
19.349 |
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Consumption of stores and spares parts |
79.128 |
62.065 |
57.685 |
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Increase/(Decrease) in Finished Goods |
(19.512) |
(7.869) |
(15.241) |
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Salaries, Wages, Bonus, etc. |
41.642 |
33.098 |
30.495 |
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Managerial Remuneration |
6.200 |
7.492 |
6.378 |
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Payment to Auditors |
0.393 |
0.393 |
0.309 |
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Interest |
43.442 |
35.913 |
32.850 |
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Insurance Expenses |
5.849 |
4.018 |
4.445 |
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Power & Fuel |
21.377 |
15.941 |
28.169 |
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Depreciation & Amortization |
52.154 |
59.967 |
29.703 |
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Other Expenditure |
145.228 |
139.112 |
89.241 |
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Total Expenditure |
982.689 |
968.718 |
760.322 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
5.12
|
6.48 |
5.30 |
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Net Profit Margin (PBT/Sales) |
(%) |
6.19
|
8.16 |
8.26 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.78
|
8.34 |
10.05 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.22 |
0.31 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.35
|
1.51 |
1.92 |
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Current Ratio (Current Asset/Current Liability) |
|
1.95
|
2.29 |
2.10 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the
company |
GOPSONS PAPERS LIMITED |
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Presented By |
Oriental
Bank of Commerce & Gopsons Papers Limited |
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1) Date and description of instrument creating the change |
Dated 05.11.1999, no document was executed equitable mortgage created by letter of deposit of title deed (LD 59) Regd. On 30.11.1999, 02.02.2001, modified on 25.05.2001, Regd. On 03.02.2000, Modified on 18.01.2001, Regd. On 02.02.2001 Modified on 25.05.2001, Regd. Ib 11.06.2001, Mod. On 19.10.2001, Regd. On 12.11.2001, Modified on 20.12.2001, Regd. On 11.01.2002, Modified on 15.02.2002, Regd. On 11.03.2002, Modified on 30.03.2002, Regd. On 26.04.2002, Modified on 17.08.2002, Regd. On 13.09.2002, Modified on 20.09.2002, Regd. On 17.10.2002, Modified on 13.03.2003, Regd. On 04.04.2003, Modified on 10.01.2004, Regd. On 06.02.2004. Further modified on 16.07.2004 and modification Regd. On 28.07.2004, Modified on 02.05.2005, Regd. On 20.05.2005, Modified on 18.06.2005, Regd. On 27.06.2005. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.39.350 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Equitable mortgage of property bearing No.A-14, Sector 60, Noida (Uttar Pradesh) standing in the name of the company to secure the credit facility of Rs.39.350 millions |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Payable on demand |
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5) Name and Address and description of the person entitled to the charge. |
Oriental Bank of Commerce, Chawri Bazar, Delhi-110006 |
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6) Date and brief description of instrument modifying the charge |
No document was executed. Letter of confirmation from the company obtained for continuation of equitable mortgage dated 10.10.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Extent of the first charge on the property situated at : A-14, Sector 60, Noida, Uttar Pradesh A-29, Sector 9, Noida, Uttar Pradesh C-26, Sector 57, Noida, Uttar Pradesh Had been increased from Rs.559.450 millions to Rs.570.250 millions as below:
Term Loan I : Rs.21.900 millions, Term Loan II: Rs.6.950 millions, Term Loan III: Rs.130.000 millions, Term loan IV: Rs.14.600 millions, Term Loan V : Rs.88.500 millions, Cash Credit Rs.20.000 millions (Interchangeability with CC upto Rs.20 millions- Clean DD/FDBP-Rs.10 millions (Interchangeability) (S/L Foreign Bank Guarantees Rs.20 millions, Bank Guarantee : Rs.20 millions
Bank Guarantee (Fin.) Rs.50 millions, Letter of Credit Import/ Inland Rs.30 millions, FDBP/FUDBP Rs.40 millions One time Import Rs.3.8 millions |
Website Details:
Profile:
Subject was founded in 1950 by Devi Dayal Goel, with one small hand fed
letter-press machine, a rugged workhorse of a press that supplemented the
business’ primary focus of the paper trade.
As is the natural process, three of Devi Dayal's sons - Satish, Sunil,
and Anil accepted the challenge of taking over the family business, which at
the time mainly supplied paper to the book printing trade. In a visionary move,
and with the encouragement of publishers who called for the supply of finished
product rather than raw material, the three brothers saw that the future of the
company lay in supplying the demands of the publishers for finished articles.
Thus began the journey of toil, hard work and commitment to service,
which saw the setting up of 5 printing units spread across
Infrastructure
Company invests both in people and equipment to
strengthen its service and to meet the changing needs of the customers. Hence
the infrastructure at company provides the best that technology has to offer
with the best of man - management.
The Book Production facility is one of the largest
in
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.48.83 |
|
|
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.65.86 |
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 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|