MIRA
INFORM REPORT
|
Report Date : |
27.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ALMATS BRANDING SOLUTIONS PRIVATE LIMITED |
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Formerly Known As : |
ALMATS PRINT-PACK PRIVATE LIMITED |
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Registered Office : |
101/102, Pragati Industrial Estate, N M Joshi Marg, Lower Parel
(East), Mumbai – 400011, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.03.1988 |
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Com. Reg. No.: |
11-46412 |
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CIN No.: [Company
Identification No.] |
U22219MH1988PTC046412 |
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IEC No.: |
0304023400 |
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PAN No.: [Permanent
Account No.] |
AADCA2136M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Printing of Marketing Collaterals like news letter, Catalogues,
Posters, Buntings etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 30000 |
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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. Trade relations
are fair. Business is active. Payments are reported as usually correct and as
per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Rakesh Keni |
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Designation : |
Accountant Executive |
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Date : |
26.09.2008 |
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Name : |
Mr. Mukesh Chuda |
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Designation : |
Senior Accountant |
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Contact No.: |
91-9920711995 |
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Date : |
26.09.2008 |
LOCATIONS
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Registered Office : |
101/102, Pragati Industrial Estate, N M Joshi Marg, Lower Parel
(East), Mumbai – 400011, Maharashtra, India |
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Tel. No.: |
91-22-40793333/ 23010807 |
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Mobile No.: |
91-9833544430/ 9920711995 |
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Fax No.: |
91-22-23050797 |
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E-Mail : |
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Website : |
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Area : |
22000 sq. ft./ 1000 sq. ft. |
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Location : |
Rented / Owned |
DIRECTORS
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Name : |
Mr. Asgar Fidahusain Kothawala |
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Designation : |
Managing Director |
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Address : |
501- B, Hill Heaven Hill Road, Opposite Mehboob Studio, Bandra West,
Mumbai - 400011, Maharashtra, India |
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Date of Birth/Age : |
10.07.1942 |
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Date of Appointment : |
07.03.1988 |
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Name : |
Mrs. Rehana Asgar Kothawala |
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Designation : |
Director |
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Address : |
501- B, Hill Heaven Hill Road, Opposite Mehboob Studio, Bandra West,
Mumbai - 400011, Maharashtra, India |
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Date of Birth/Age : |
04.01.1943 |
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Date of Appointment : |
07.03.1988 |
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Name : |
Mr. Husain Asgar |
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Designation : |
Director |
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Address : |
Tanna Residency, Flat No. 11, V S Road, Opposite Sidhivinayak Mandir
Prabhadevi, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
13.10.1976 |
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Date of Appointment : |
26.02.2001 |
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Name : |
Mrs. Huma Husain Asgar |
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Designation : |
Director |
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Address : |
Tanna Residency, Flat No. 11, V S Road, Opposite Sidhivinayak Mandir
Prabhadevi, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
06.05.1976 |
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Date of Appointment : |
18.11.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
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No. of Shares |
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Asgar Fidahusain Kothawala |
|
1775 |
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Rehana Asgar Kothawala |
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1725 |
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Husain Asgar |
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1500 |
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Total |
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5000 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Printing of Marketing Collaterals like news letter, Catalogues,
Posters, Buntings etc. |
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Exports : |
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Countries : |
·
Dubai ·
US ·
London |
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Imports : |
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Countries : |
Dubai |
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Terms : |
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Selling : |
Credit (60 days) |
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Purchasing : |
Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
60 |
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Bankers : |
·
Standard Chartered Bank 23-25, M G Road, Fort, Mumbai – 400001, Maharashtra, India ·
Indian Overseas Bank Delsle Road Branch, Pragati Industrial Estate, N M Joshi Marg, Lower Parel,
Mumbai – 400011, Maharashtra, India |
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Facilities : |
Over Draft Rs.15.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Dinesh Pai and Company Chartered Accountant |
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Address : |
402, Marathon Chambers, P K Road, Panch Rasta, Mulund (West), Mumbai –
400080, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.545 |
2.993 |
2.224 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.045 |
3.493 |
2.724 |
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LOAN FUNDS |
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1] Secured Loans |
5.723 |
7.181 |
3.680 |
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2] Unsecured Loans |
2.079 |
5.351 |
5.504 |
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TOTAL BORROWING |
7.802 |
12.532 |
9.184 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
12.847 |
16.025 |
11.908 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.437 |
1.741 |
0.168 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.000 |
0.000 |
0.000 |
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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 |
6.245
|
4.202 |
7.036 |
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Sundry Debtors |
27.153
|
20.202 |
5.668 |
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Cash & Bank Balances |
1.816
|
0.764 |
0.466 |
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Other Current Assets |
2.430
|
1.658 |
0.776 |
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Loans & Advances |
10.620
|
5.990 |
2.438 |
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Total
Current Assets |
48.264
|
32.816 |
16.384 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
35.648
|
17.442 |
3.663 |
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Provisions |
2.291
|
1.090 |
0.981 |
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Total
Current Liabilities |
37.939
|
18.532 |
4.644 |
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Net Current Assets |
10.325
|
14.284 |
11.740 |
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MISCELLANEOUS EXPENSES |
0.085 |
0.000 |
0.000 |
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TOTAL |
11.847 |
16.025 |
11.908 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
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Sales Turnover |
|
94.826 |
66.699 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
|
94.826 |
66.699 |
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Profit/(Loss) Before Tax |
|
0.619 |
0.252 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
|
0.619 |
0.252 |
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Expenditures : |
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Interests |
|
0.903 |
0.569 |
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Depreciation & Amortization |
|
0.477 |
0.586 |
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Other Expenditure |
|
92.827 |
65.292 |
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Total Expenditure |
|
94.207 |
66.447 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.65
|
0.38 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.65
|
0.38 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.25
|
0.73 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.07 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
9.07
|
8.89 |
5.08 |
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Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.77 |
3.53 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART:
|
Parameters |
Details |
|
Existence
Verification |
|
|
Name |
Almats Branding Solutions Private Limited |
|
Address |
101/102, Pragati Industrial Estate, N M Joshi Marg, Lower Parel
(East), Mumbai – 400011, Maharashtra, India |
|
|
|
|
Statutory
Approvals |
|
|
Income Tax Registration |
AADCA2136M |
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VAT/ TIN Registration |
27030018313V |
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Import Export Code |
0304023400 |
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Name of Bank |
Standard Chartered Bank |
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Current Account Number |
22505547038 |
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Account Since |
3 years |
Trade Reference:
- Mahindra and
Mahindra
Form 8:
|
Corporate
identity number of the company |
U22219MH1988PTC046412 |
|
Name of the
company |
ALMATS BRANDING SOLUTIONS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
101/102, Pragati Industrial Estate, N M Joshi Marg, Lower Parel
(East), Mumbai – 400011, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts |
|
Particular of
charge holder |
·
Indian Overseas Bank Delsle Road Branch, Pragati Industrial Estate, N M Joshi Marg, Lower
Parel, Mumbai – 400011, Maharashtra, India |
|
Nature of
instrument creating charge |
Letter of
hypothecation in F – 110E |
|
Date of
instrument Creating the charge |
01.08.2008 |
|
Amount secured by
the charge |
Rs.20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: BPLR – 0.50% p.a.
with a minimum of 13% p.a. Terms of
Repayment: Repayable on
Demand Margin: 40% Extension and
operation of the charge: The charge is to
operate as security for the due repayment of the cash credit facilities of
Rs.20.000 Millions together with interests, additional interests, costs,
charge, expenses and all other money payable by the company to the bank in
terms in sanction. |
|
Particulars of
the property charged |
Hypothecation by
way of first charge, of all the book debts which may due and owing to the
company from time t time. |
Website Details:
Spearheads:
Mr. Asgar Kothawala, Chairman, has spent the last 40 years of his life
grooming company as one of the powerhouses in the printing industry.
Mr. Husain Asgar, Managing Director, is a 'Print Technocrat' who brings
a dynamic, no-challenge-is-big-enough attitude and perspective to the
organization.
Mrs. Huma Husain Asgar, with Interior Designing as a hobby and passion, she
applies her creative flair along with astute business acumen to the helm of
matters.
Team Almats, a team of over 60 professionals and growing, each an expert
in their respective fields. This core team includes relationship managers,
production supervisors, designers, writers, graphic artists and functional
staff. Each focused on providing their customers with a fulfilling experience.
Infrastructure
A philosophy, a service attitude, and charismatic leaders are all thin air,
without the substance that their infrastructure provides. This is what actually
puts the money where their mouth is. Their team operates out of a
state-of-the-art, 15,000 sq. ft., commercial space located in the heart of
Mumbai city. Their facilities include:
Pre-Press:
- 8 graphics stations for
designing & graphics
- 2 CTCPs for computer to
plate processing
Press:
- 4 colour 28x40
Heidelberg SM 102
- 4 colour 20x29
Heidelberg SM 74
- 2 colour 28x40
Heidelberg SM 102
- Polar programmed 115
cutting machine
Post-Press:
- Automatic folding
machine
- Perfect binding machine
- Automatic thread-sewing
machine
- Wire-stitching machine
- Spiral / Wiro machine
- Polar programmed
cutting machine.
Large Format Printing:
- HP - 5500 for Indoor
prints
- Nutek for outdoor
prints
They have spread their wings across the globe and are
providing their services in various overseas countries. Many global companies
have discovered the joys of outsourcing to India, by working with Almats. Right
from designing, printing, to mail handling, database management, Quality
Control, packaging and logistics, their all services are satisfactorily
catering to the needs of globe clients. .
Their print-related outsourcing solutions have impacted the bottom lines of
various global companies. To name a few:
- Image Playgrounds, UK
- Cityscape Exhibitions, Dubai
- Expat Properties, Dubai
- Mahindra & Mahindra, USA & Australia
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 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.46.43 |
|
UK Pound |
1 |
Rs.67.95 |
|
Euro |
1 |
Rs.67.95 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 |
|